Best Bank for UK/Thai Transfer and in general

[Jip99]

I've spent the past hour or more trying to understand the HSBC UK transfer issue, despite having been able to select "GBP" on my first attempt I have been met with "GBP Equivalent" on my three subsequent attempts, all really odd.

 

Yes I was a Premier account holder until fairly recently when I relinquished the account in favour of a basic HSBC account and today was the first time I had attempted a trial transfer in my new status.

 

According to the HSBC documentation, I should not be allowed to transfer GBP overseas via the internet, I can however do so by making a telephone transfer which costs £40 rather than the £4 via the online system, what a surprise!

 

I'm curious, what rate did you (Jip) get for a GBP/THB online transfer via HSBC UK?

 

If all the above is correct, I guess the way forward is to use BBK London for the overseas transfers using the local UK transfers facility of HSBC UK to accomplish that.

 

Whatever changed, at HSBC must have done so very quietly within the past eleven months.

 

http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromuk/Pages/ReceivingFundsfromUK.aspx

 

 

 

 

 

 

I won't use HSBC, I prefer the Halifax system on the basis of cost and efficiency - and obviously I can send Sterling.

 

 

The rate indicated just now online with HSBC was 53.11.  Kasikorn close of play yesterday was 54.29 so maybe net 53.9. Last month I moved some money for a HSBC customer and there was 1 Baht difference.

 

 

 

Currency Calculator

* indicates a required field

Amount to convert: is required

Convert from:is required

 

Convert to:is required

 

Result:

53,114.24 THB

Exchange Rate:

1 GBP = 53.114239 THB

 

[true blue]

i always use hsbc for uk thai transfer,and ive always transfered sterling,no proplem in fact i was thinking of transferiing some money soon can use barclays but there about 30quid to hsbc 17,going to check web site now,be annoyed if not transfer sterling,though i think its how you read the gpb equivelent,i did email them once and they told me i could send sterling,just sent sterling to my sons bank in spain.

[chiang mai]

i always use hsbc for uk thai transfer,and ive always transfered sterling,no proplem in fact i was thinking of transferiing some money soon can use barclays but there about 30quid to hsbc 17,going to check web site now,be annoyed if not transfer sterling,though i think its how you read the gpb equivelent,i did email them once and they told me i could send sterling,just sent sterling to my sons bank in spain.

 

Please let us know what happens, if true that we cannot transfer GBP from HSBC to overseas I shall thrash them severely and remove my two shillings and sixpence for deposit elsewhere, that'll teach them a lesson they'll not easily forget.

[true blue]

just been on website,everthing looks the same as when i transfered 7 month ago,went to next page for rates for my transfer,and the currency quote was 534,963,55 for 10k sterling,which is exactly bangkok banks tele transfer rate todayso as far as i can see some one is inputting wrong info in some were,

[Jip99]

just been on website,everthing looks the same as when i transfered 7 month ago,went to next page for rates for my transfer,and the currency quote was 534,963,55 for 10k sterling,which is exactly bangkok banks tele transfer rate todayso as far as i can see some one is inputting wrong info in some were,

 

I just input GBP 10,000 and got

Exchange Rate:

1 GBP = 53.496355 THB

 

Which is good news that it is the same.

 

Obviously, there are threasholds for rates - it would be nice if they were more transparent.

[socrates28]

So can you transfer Sterling or not - maybe this is why they reduced the fee to £4 ???

[true blue]

just been on website,everthing looks the same as when i transfered 7 month ago,went to next page for rates for my transfer,and the currency quote was 534,963,55 for 10k sterling,which is exactly bangkok banks tele transfer rate todayso as far as i can see some one is inputting wrong info in some were,

 
I just input GBP 10,000 and got
Exchange Rate:
1 GBP = 53.496355 THB
 
Which is good news that it is the same.
 
Obviously, there are threasholds for rates - it would be nice if they were more transparent.

can not be more transparent,than bangkok bank daily web page informing you of up to date rates.

[true blue]

So can you transfer Sterling or not - maybe this is why they reduced the fee to £4 ???

the fee for transferring 10k sterling to bangkok bank is 17.50 plus receaving bank charge,never noticed that charge???maybe in transaction some were.

[chiang mai]

And the charge for transferring £10k from HSBC UK to BKK UK is zero, thereafter the cost of transfer from BKK UK to BKK TH is £15 plus the receiving charge of THB 500 (?), about £8, hmmm, HSBC wins.

 

Cartels anyone!

[socrates28]

My question was using HSBC - can you send sterling to your nominated Thai Bank Account for £4 - or does it go in Baht by default?

[chiang mai]

No, and you never could.

 

 

 

 

 

 

[Jip99]

So can you transfer Sterling or not - maybe this is why they reduced the fee to £4 ???

 

Not.

 

They make money on the rate.

 

Every bank has to make it's Pound of flesh - rate/fee, fee/rate

[Jip99]

 

So can you transfer Sterling or not - maybe this is why they reduced the fee to £4 ???

the fee for transferring 10k sterling to bangkok bank is 17.50 plus receaving bank charge,never noticed that charge???maybe in transaction some were.

 

 

No it isn't.

 

Free BACS payment to London then GBP15 for Thai Baht or GBP 20 for Sterling.

 

or, Pay you GBP 17.50 + 500 Baht max charge at the Thai end

 

or move to Halifax GBP 9.50

 

6 and two 3's really.

[socrates28]

On another thread - there are 3 individuals that are claiming that their regular transfers from HSBC to Thailand leave in Sterling and the conversion takes place in Thailand

 

Do we have any official link that can confirm one way or the other

[true blue]

On another thread - there are 3 individuals that are claiming that their regular transfers from HSBC to Thailand leave in Sterling and the conversion takes place in Thailand
 
Do we have any official link that can confirm one way or the other

its standard banking practice,its your instructions they operate by,you make a request in black and white,they confirm,to your instructions,the rate you recieve is the daily rate issued by the thai bank on there web site,no big deal just one of a million transactions done by banks world wide on a daily basis.

[socrates28]

 

On another thread - there are 3 individuals that are claiming that their regular transfers from HSBC to Thailand leave in Sterling and the conversion takes place in Thailand
 
Do we have any official link that can confirm one way or the other

its standard banking practice,its your instructions they operate by,you make a request in black and white,they confirm,to your instructions,the rate you recieve is the daily rate issued by the thai bank on there web site,no big deal just one of a million transactions done by banks world wide on a daily basis.

 

I think you have the wrong end of the stick

 

A few BM's here have stated you CANNOT send Sterling online to your Thai Bank from HSBC and you can only send Baht

 

BM's on another site are saying you can send either

 

I was merely looking for clarification

[true blue]

On another thread - there are 3 individuals that are claiming that their regular transfers from HSBC to Thailand leave in Sterling and the conversion takes place in Thailand
 
Do we have any official link that can confirm one way or the other

its standard banking practice,its your instructions they operate by,you make a request in black and white,they confirm,to your instructions,the rate you recieve is the daily rate issued by the thai bank on there web site,no big deal just one of a million transactions done by banks world wide on a daily basis.

I think you have the wrong end of the stick
 
A few BM's here have stated you CANNOT send Sterling online to your Thai Bank from HSBC and you can only send Baht
 
BM's on another site are saying you can send either
 
I was merely looking for clarification

if you ask to send sterling hsbc will,if you dont hsbc will send baht,i have done generally one transfer a year for last numerous years and have always had sterling transfered no proplem.

[socrates28]

 

 

 

On another thread - there are 3 individuals that are claiming that their regular transfers from HSBC to Thailand leave in Sterling and the conversion takes place in Thailand
 
Do we have any official link that can confirm one way or the other

its standard banking practice,its your instructions they operate by,you make a request in black and white,they confirm,to your instructions,the rate you recieve is the daily rate issued by the thai bank on there web site,no big deal just one of a million transactions done by banks world wide on a daily basis.

 

I think you have the wrong end of the stick
 
A few BM's here have stated you CANNOT send Sterling online to your Thai Bank from HSBC and you can only send Baht
 
BM's on another site are saying you can send either
 
I was merely looking for clarification

 

if you ask to send sterling hsbc will,if you dont hsbc will send baht,i have done generally one transfer a year for last numerous years and have always had sterling transfered no proplem.

 

 

Do you not think I know that?

 

I was just wondering why HSBC would reduce the price of a service from £17 to £4 if there was no gain in it - and that there might be a catch

 

Others stated that they could not send Sterling - so once again I was seeking clarification from someone who has performed a transfer online since the price reduction - do you fall in to that category?
 

[chiang mai]

Agreed, the drop from 19 to 4 is a surprise and I don't yet understand why/how etc., competition perhaps?

 

Jip said earlier that he was going to check with the HSBC IT people, if he did then hopefully he'll post an answer?

 

Perhaps you might want to try a dummy run like I did, up to the point of committing to the transfer, just to see what happens?

 

Sorry that this is more questions than answers but I also remain uncertain about this.

[socrates28]

Well its been confirmed on another thread

 

You CANNOT send Sterling to Thailand and convert at the other end - they send over what they call "GBP equivalent" - the guy sent over £4500 and the difference was about 6000 baht (on what it would have been sending Sterling) - taking into account the £4 to send, the intermediary rate and receiving rate - that still makes it an awful way to send money

 

I knew they would never reduce the cost of transfers to £4 for no reason

[alaninlamphun]

Barclays to kasikorn,
No problems,less than 24 hrs sometimes,about £20 for the transfer.


Sent from my iPhone using Thaivisa Connect Thailand

[true blue]

Barclays to kasikorn,
No problems,less than 24 hrs sometimes,about £20 for the transfer.


Sent from my iPhone using Thaivisa Connect Thailand

barclays charge 25quid for transfer bit nit picking i no, but not much else to moan about this afternoon.have a nice day.

[angelsephemera]

Lloyds, UK to thailand bank 17.50, Sterling changed at Thai end, 48 hours

[Jip99]

Lloyds, UK to thailand bank 17.50, Sterling changed at Thai end, 48 hours

 

Halifax online, same, but fee  GBP 9.50

[chiang mai]

What was the final view on HSBC transfers of GBP?

[true blue]

i went hsbc to bkk uk then bkk uk to los,no proplem,10k 5431750.

[Jip99]

What was the final view on HSBC transfers of GBP?

 

Apologies for the delay. Tried to PM but I am blocked.

 

Briefly; after posing the question to HSBC I was told to select the "GBP equivalent" on the online transfer form.

 

(In the past with paper TT's GBP equivalent would just result in the bank converting at their rate of the day and sending Baht - so I was sceptical)

 

Last week I sent over a small amount GBP 500. No charge and I received a net rate (after all charges) of just over 53.   HSBC's exchange rate that day was lowish 52. With the Kasikorn bank charge I was about 300 Baht out which I put down to correspondent bank charges.

 

i will  try with a larger amount later this month.

[uptheos]

Has anyone done multiple SWIFT transfers from Bangkok Bank to the UK for large amounts (say each transfer the equiv of $20,000 max)?