Anyone else had troubles with kasikorn bank before? I transferred money from australia to my Kbank account and and there was quite a decent amount missing after the transfer.

I sent it in the dollar for Kbank to exchange to their rate which on the date it landed was 1.5 baht higher than what I received.

When I sent to my Bangkok Bank account I always get the correct amount less my Aus bank fee and the Bkk bank fee.

Thinking of just closing the account down but I do like their online banking system.

I have experienced other problems doing IMT with K bank, like the money being returned for no reason, i now only use BKKB

I had no problem doing a couple of IMTs last year. Then about 2 months later there was a mystery 500B withdrawal, using the same code as the IMTs. I asked bank staff - they said 'No, must be ATM withdrawal', as if I am a bigger fawking idiot than is obvious. Anyway, hope you are returned those missing Bs. AA

if you are trans.big sums of money and recieve the telex.trans.rates you will see that most banks differ,some give better cash ex.and less t.t.rates and others vice versa.for telex trans.i have found scb.to be that little bit more.

Here is a good site to compare exchange rates including TT rates...

http://bankexchangerates.daytodaydata.net/default.aspx

Lefty

In Kasikorn online banking it says only the "counter rate" is available for online transfers. What exactly is the "counter rate"?

OP should otherwise contact the bank in Australia to get more information.

The amount of money you actually recieve on your account in Thailand depends on 2 factors:

1. if you send it in local currency or in Thai baht

2. how you pay fro the banktranfer cost: The sender pays, the receiver pays or both share the cost.

OP should otherwise contact the bank in Australia to get more information.

The amount of money you actually recieve on your account in Thailand depends on 2 factors:

1. if you send it in local currency or in Thai baht

2. how you pay fro the banktranfer cost: The sender pays, the receiver pays or both share the cost.

3. Whether or not sending and receiving bank have accounts (loro/nostro accounts) with each other, or if an intermediary bank has to be involved.

My guess is that the difference the OP experiences between using Bangkok Bank and Kasikorn Bank is because his foreign bank doesn't have an account with Kasikorn Bank. Bangkok Bank is a bigger and more internationally oriented bank, and will have interbank accounts with more foreign banks than Kasikorn.

Sophon

Edited January 8, 201313 yr by Sophon

I regularly transfer to Kasikorn without problems (from the UK)

I always get the TT rate that appears on this site http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx

then a 500B deduction (charges).

Transferred USD to Kasikorn today, as I did before, never cared to check conversion rate. Thus time I did check because it was somewhat more money.

Credited 1,100 BHT less than currency calculator indicates. Will be calling customer service with zero hopes of receiving not even a valid explanation.

Called customer service, here's the fee breakdown. I have to say that they are always courteous and helpful even at 11:00pm.

1st, they received $15 less than what it was sent. Typically, one will never get to understand who ate these, typically a correspondent bank, so, 450 BHT.

2nd, foreign exchange fee 0.25% with a minium of 200, maximum 500 BHT.

3nd, for account is not in Bangkok, that incurs a charge "leased line" of 20 BHT.

4th and again because not BKK based, a "domestic transfer fee" of 10 BHT per 10,000 (or fraction thereof).

While technically it checks out, I will look for a better way to move money next time.

Edited March 5, 201313 yr by paz