Problem With Using Bangkok Bank For Incoming Transfers In Usd.

[soihok]

I have recently encountered a problem using Bangkok Bank for TT transfers on the recieving end.

To cut it short, it goes like this.

I transfer say, 350 USD from overseas to a Bangkok Bank account (which has been open for about 10 years, and not really had a problem up to now).

The money received is not the same as what it should be when using the rate posted on their forex web site. I lose about 800 baht on what is recieved in Thailand on a transfer of 350 USD, going on their posted forex rate on the web. The staff are really unhelpful and don't seem to give a s**t. So now going ahead and opening an account at another bank.

I used to transfer Sing Dollars into the bank = no problem, then sending Baht from overseas, also not a problem but terrible exchange rate in the sending country to do this way (apart from Singapore).

Has anyone encountered this problem with Bangkok Bank?

Is the a huge surcharge normal when sending USD into the bank account (I always tick the charges apply to beneficiary box)?

Is this normal when Bangkok Bank receives Telegraphic Transfers in USD?

Any advice is welcome thanks!

[lopburi3]

For a TT (SWIFT) transfer you have your home bank fee - then a fee at the transferring bank is taken out so if sending after your home fee 350 it will be about 345 actually sent then there is a 1/4% fee for exchange deducted in the range 200-500 baht.

[Nowhereman60]

When I transfer money from my US bank to Bangkok Bank I have the following fees. Transfer about $3,000 my bank charge $20, whoever the middle bank is charges me $2, and Bangkok Bank charge about 250 baht. I also get an SMS when my money is deposited in my Bangkok Bank account.

[soihok]

Thanks for that.

Something odd going on, have tried to get the actual incoming TT transaction print out from the bank in Thai, but as I'm not there the staff are giving nothing away. Looks as if will change banks as losing about 800 baht on an incoming transfer of only 350 USD is being robbed.

I hate banks at the best of times.

[lopburi3]

All banks here have the same 200-500 fee. Are you sure that box you tic is not deducting your home bank TT fee from the final total? It sure sounds as if it is if you make receiving account pay all charges.

(I always tick the charges apply to beneficiary box)?

[Pib]

Sounds like your home country sending bank may have adjusted their lsending fees or maybe now using an intermediary bank which is taking a slice. On the receiving end, Bangkok Bank charges 0.25% (200 baht min, 500 baht max) funds conversion/receipt fee....and this is a pretty standard fee for all/most Thai banks. "If", repeat, "if" $350 arrived Bangkok Bank they first convert to Thai baht using the TT Buying rate, then substract their fee--which would be 200 baht in your case--then post the remaining amount to your account. That leaves 600 baht (approx. $20) to account for the missing 800 baht. Approx $20 sure sound like a nice round figure for a sending bank funds transfer fee.

In closing, what were your "sending bank" fees?

P.S. If you add Bangkok Bank SMS notification for incoming money, you will get a SMS showing the date/time of amount received/posted and the exchange rate.

Edited April 1, 2013 by Pib

[gamini]

I have had so many problems with bangkok Bank during the last 30 years that I have changed to SCB. When I ask them (SCB) about a TT transfer I get a print out in English with all the relevant charges which on a $10,000 transfer is as follows $24 for TT from my home bank. Plus BT300 for the inter bank in Thailand . Bt100 for SCB and Since my bank is not in Bangkok there is and inter region charge BT295.(this is based on the amount sent)

The rate of the first mentioned rates are for any amount so your problem is that you are sending only a small amount each time.

[soihok]

Thanks for all your replies. Most helpful.

I am using Maybank in Malaysia to send USD, I was buying baht here and sending it but the exchange rate is hideous. USD looked the better option but with these charges its hard to take. Malaysia won't transfer Ringgit out of Malaysia, this is the problem.

On the form, I tick local charges paid by me and local charges in Thai by beneficiary.

Will try to get the BB staff to actually do something today and look into what actually came into the bank (currency and amount), but they are really unhelpful and have a dont car less attiude. I think its worth changing banks just because of the attitude.

The bank sending fee is about 20 Ringgit when done at the counter, but when done on line there isn't one. This maybe the problem, will find out (hopefully) what was actually received in Thailand today.

Thanks again.

[4evermaat]

Make sure you sign up for SMS alerts so that you can get the stats quickly. Confirm that you have SMS alerts. Otherwise, you have to send a request via online banking or email to get the stats of the transfer.

Thanks for all your replies. Most helpful.

I am using Maybank in Malaysia to send USD, I was buying baht here and sending it but the exchange rate is hideous. USD looked the better option but with these charges its hard to take. Malaysia won't transfer Ringgit out of Malaysia, this is the problem.

On the form, I tick local charges paid by me and local charges in Thai by beneficiary.

Will try to get the BB staff to actually do something today and look into what actually came into the bank (currency and amount), but they are really unhelpful and have a dont car less attiude. I think its worth changing banks just because of the attitude.

The bank sending fee is about 20 Ringgit when done at the counter, but when done on line there isn't one. This maybe the problem, will find out (hopefully) what was actually received in Thailand today.

Thanks again.

So for malaysian transfers, do you have to convert MYR to USD or other foreign currency FIRST? Normally the exchange rate for the border countries and western countries are pretty good, but I'm only used to the counter exchanges done with the money exchanges and the occassional bank. Maybe when sending outside the country it is a worst exchange rate?

[TRicher]

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

[ajarnmarc]

I've found that Bangkok Bank is the worst for service to foreigners. Their attitude is always the same... they just don't give a dame,

and aren't willing to explain anything. The bank only works for those who know exactly what they want, and how to get it.

SCB is a real winner IMO, and Krungsri isn't bad either, when dealing with foreigners. Kasikorn bank is fine as long as you don't make any mistakes when shopping online,

if a refund is issued from an online purchase or fund transfer, forget it; it will take up to nine months to get the refund. Kasikorn bank attitude is, once the money is sent,

it's up to the foreigner to fight to get it back. Accident insurance is also a nightmare with Kasikorn bank, but not so much with the other two banks.

[abrahamzvi]

I have been transferring regularly US$ funds from my bank in the US to The Bangkok Bank in Chiang Mai for years and have never experienced any difficulties. The rate of exchange as well as the fees charged by them are always fair and adequate. However, you may know that in accordance with Federal regulations in the US, a US bank must use the services of a US entity to transfer funds overseas. For transfers to The bagkok bank in Thailand, US banks normally use Bangkok Bank in New York and that is where charges occur. Up to a certain limit, and irrespective of the amount transferred within this limit, they charge US$ 10, so that in your case the amount received in Thailand was only US$ 340. In addition the bank here add their normal usual fees, and together it is a considerable portion of as low an amount as US$ 350. However, having said that, I still consider Baht 800 to be exaggerated and if I were you I would ask IN WRITING for the full transfer calculation from the bank. They are obliged to do this.

[Suradit69]

For a TT (SWIFT) transfer you have your home bank fee - then a fee at the transferring bank is taken out so if sending after your home fee 350 it will be about 345 actually sent then there is a 1/4% fee for exchange deducted in the range 200-500 baht.

I have my broker transfer dollars to the New York branch of Bangkok Bank (using the account number of my Pattaya branch account).

Broker doesn't charge anything. I think the NY branch of Bangkok Bank deducts $10. In a couple of days I get an SMS informing me of the deposit in baht along with the exchange rate and local fee charged.

Lately the rates have been pretty bad (as you can tell from the numerous threads despairing the high cost of living in Thailand) and since the banks don't operate as a charity they tend to exploit that, but it's usually in the expected range. I would suggest that small amounts like $350 are going to take a percentage beating and they may try to discourage small transaction using the worst possible rate.

Better to watch for somewhat better rates and bring in at least a few thousand at a time. It's still going to be less than in the not too distant past, but the set fees will take a smaller percentage bite out of your transfer.

I've found that Bangkok Bank is the worst for service to foreigners. Their attitude is always the same... they just don't give a dame,

and aren't willing to explain anything. The bank only works for those who know exactly what they want, and how to get it.

SCB is a real winner IMO, and Krungsri isn't bad either, when dealing with foreigners. Kasikorn bank is fine as long as you don't make any mistakes when shopping online,

if a refund is issued from an online purchase or fund transfer, forget it; it will take up to nine months to get the refund. Kasikorn bank attitude is, once the money is sent,

it's up to the foreigner to fight to get it back. Accident insurance is also a nightmare with Kasikorn bank, but not so much with the other two banks.

"I've found that Bangkok Bank is the worst for service to foreigners. Their attitude is always the same... they just don't give a dame ..."

I think only the Walking Street branch gives dames and I'm pretty sure the dames quite understandably come with an attitude.

That aside, I've never had a problem with Bangkok Bank either in terms of service or attitude. Can't recall any problems for that matter, in marked contrast to my US bank ... although even they have been pretty good recently but their 0% interest is nothing to write home about.

Edited April 2, 2013 by Suradit69

[desertdog]

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

Can you send me more info on using BKK bank in NY? I have stopped using BKK bank here because of the fees for receiving money transfer now using K-bank. But would like to know how to set up with the NY BKK branch.. any help thanks ..will be traveling to USA next week so I can check with them...THANKS

[Gerald14]

I concur with all comments re Bangkok Bank service and attitude to customers. I had an account at BKK bank for about 20 years but about three years ago I had ongoing problems with money transfer coming in very very late, also with connecting two bank accounts on the internet etc. etc. So in short I switched to Kasikorn.........excellent service for customers, if you go in the bank a service rep. will ask you if they can help give you a queue number and fill in the forms for you if you want.

Anyway to me BKK bank is like a dinosaur that should be extinct

[abrahamzvi]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

[oneday]

I have no idea if this will help or shed any light, but...

I wire transfer my money usually in $15,000 amounts from the US to Bangkok Bank. All I do to check the exchange rate is divide what is actually deposited by $15,000 and it always comes extremely close to 0.2 less than what I see on www.xe.com the night I make the transfer. That includes all fees on both ends and is either equal to or slightly better than any exchange I can get on the street at the very best exchange places here. I'm pretty happy with the exchange rate I get.

[4evermaat]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

You cannot open an account at BkB in New York. You use the account number from the BkB account that you opened in Thailand. The ABA routing number comes from the BkB New York branch.

This is for ACH/ETF transfers, normally initiated from your home bank internet banking.

[rmn856]

The Routing Number of Bangkok Bank's New York branch is 026008691

Use your Bangkok Bank account number for the deposit to the Bangkok bank in your local area.

[Nip]

Bangkok Bank? I gave up after the manager in a branch in Phuket when I complained told me to go f*** my mother. Complaints to the head office were ignored. I used to transfer money from abroad but there was a problem every single time. Taking up to three weeks for money to land in my bank account. And the attitude of the staff in the Phuket branch was overtly racist and most unhelpful. I have since moved back to the Siam Commercial Bank and have had no problems.

[LA Don]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

Can you send me more info on using BKK bank in NY? I have stopped using BKK bank here because of the fees for receiving money transfer now using K-bank. But would like to know how to set up with the NY BKK branch.. any help thanks ..will be traveling to USA next week so I can check with them...THANKS

I use Bangkok Bank NY transfers with no prob. You need a Thailand account to use (you don't get a NY account). When doing a wire transfer or e-commerce payment (billpay) you use the 9 digit NY routing number and your Thailand account number. Costs me 10USD for over $2,000USD transfers plus the Thailand 2.5%. The have an internet site (Google) with all the rates and restrictions.

[HUAHIN62]

If you are in Thailand will it not be cheaper to withdraw the money at an ATM and then deposit it. The charges for this B 150 (for B 20 000) on this side plus home country charges, in my case B 120. For bigger amounts transfers are cheaper.

[Headgame]

No issues with BKK Bank.

Just received an overnight transfer from US directly to my TH account - $1250 wired and received 36,079 B. Always make sure to wire USD and activate SMS notifications.

No issues with customer service but then again don't have any issues.

The NY branch is handy for any PayPal transactions - a little longer and a litle more expensive but that's a PayPal issue not BKK Bank.

[medelander]

do any of you have fisthand experience with CITI, in BKK ? they seem a very modern, internet savvy bank (which BKK Bank is not) and offer a lot more self-directed, hands-on banking (similar to US bnaks in the states) than BKKB does. i just worry about their 'staying power' in thailand: will they make it here, or be squeezed out by the local moguls ?

[jcnbkk]

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

+1. It's called an ACH transfer. Using BB NY routing # and your BB acc# here it's dealt with as a US bank to bank transfer. When I do online transfers from Wells Fargo to BB the charge is $3 instead of $40 for a wire transfer. There's info buried on the BB website on how to set it up, I don't remember where, but I learned about it from a post on TV (or maybe pattaya addicts) so you can do a search of forums on ACH transfers from US bank to BB or something similar. Or maybe another reader knows the link. Now you've got me curious though, I've never checked the stated rate against the rate used, not even sure what it is, just know it's been going down bad lately.

[billd766]

I have been transferring regularly US$ funds from my bank in the US to The Bangkok Bank in Chiang Mai for years and have never experienced any difficulties. The rate of exchange as well as the fees charged by them are always fair and adequate. However, you may know that in accordance with Federal regulations in the US, a US bank must use the services of a US entity to transfer funds overseas. For transfers to The bagkok bank in Thailand, US banks normally use Bangkok Bank in New York and that is where charges occur. Up to a certain limit, and irrespective of the amount transferred within this limit, they charge US$ 10, so that in your case the amount received in Thailand was only US$ 340. In addition the bank here add their normal usual fees, and together it is a considerable portion of as low an amount as US$ 350. However, having said that, I still consider Baht 800 to be exaggerated and if I were you I would ask IN WRITING for the full transfer calculation from the bank. They are obliged to do this.

My next door neighbour is als having a lot of problems with benefits from the US government through BKK bank in NY and BKK bank in Bangkok.

Do you know if is possible for the benefit to go to Kasikorn bank in NY, then to KBank bank in Thaiand?

[gamini]

I've found that Bangkok Bank is the worst for service to foreigners. Their attitude is always the same... they just don't give a dame,

and aren't willing to explain anything. The bank only works for those who know exactly what they want, and how to get it.

SCB is a real winner IMO, and Krungsri isn't bad either, when dealing with foreigners. Kasikorn bank is fine as long as you don't make any mistakes when shopping online,

if a refund is issued from an online purchase or fund transfer, forget it; it will take up to nine months to get the refund. Kasikorn bank attitude is, once the money is sent,

it's up to the foreigner to fight to get it back. Accident insurance is also a nightmare with Kasikorn bank, but not so much with the other two banks.

Bangkok Bank in Pranburi did not want to open an account for me because they said they did not know how to open an account for foreigners and told me to go to Hua Hin.

[jcnbkk]

do any of you have fisthand experience with CITI, in BKK ? they seem a very modern, internet savvy bank (which BKK Bank is not) and offer a lot more self-directed, hands-on banking (similar to US bnaks in the states) than BKKB does. i just worry about their 'staying power' in thailand: will they make it here, or be squeezed out by the local moguls ?

I checked with Citi Bank US looking for a way to get money here without wire transfer fees. CB US and CB Thailand are separate entities and still require a wire transfer and large fee. Found out about ACH transfers online from my US bank to BB through NY branch for $3. See my and others posts.

[jcnbkk]

I have been transferring regularly US$ funds from my bank in the US to The Bangkok Bank in Chiang Mai for years and have never experienced any difficulties. The rate of exchange as well as the fees charged by them are always fair and adequate. However, you may know that in accordance with Federal regulations in the US, a US bank must use the services of a US entity to transfer funds overseas. For transfers to The bagkok bank in Thailand, US banks normally use Bangkok Bank in New York and that is where charges occur. Up to a certain limit, and irrespective of the amount transferred within this limit, they charge US$ 10, so that in your case the amount received in Thailand was only US$ 340. In addition the bank here add their normal usual fees, and together it is a considerable portion of as low an amount as US$ 350. However, having said that, I still consider Baht 800 to be exaggerated and if I were you I would ask IN WRITING for the full transfer calculation from the bank. They are obliged to do this.

My next door neighbour is als having a lot of problems with benefits from the US government through BKK bank in NY and BKK bank in Bangkok.

Do you know if is possible for the benefit to go to Kasikorn bank in NY, then to KBank bank in Thaiand?

Checked into that about a year ago and was told no. Not the same as BB.

[Stjohnm]

Never had an issue with BkkBank, only ever been charged fees when the charge recipient box was ticked and always got the TT rate posted. Although I'm currently waiting for a transfer that's been delayed by the Easter break so will update this post if anything differs in the next few days.