edwardandtubs, what happend with your latest remittance is an interesting story and I am trying guess how this might have happened.

 

From your comments about your earlier remittance we know that Kasikorn bank and your European bank are not correspondent banks of each other for USD, this being the reason for the involvement of an intermediary bank, ie a bank in Europe that is a correspondent bank of Kasikorn bank for USD.

 

In my opinion, the most likely thing that might have happened is that Kasikorn bank sent your latest SWIFT order by mistake to its correspondent bank in Europe for EUR or, if Kasikorn's correspondent bank in Europe is its correspondent bank for both USD and EUR, Kasikorn bank indicated by mistake the number of the EUR account it has at its European correspondent bank.

 

This would mean that when the SWIFT order arrived at Kasikorn's European correspondent bank, the amount of USD 10'000 was automatically, without any human intervention, converted to EUR, and Kasikorn's European correspondent bank sent automatically, again without human intervention, an order for the remittance of the equivalent amount of the EUR amount in USD – after deduction of a USD 25.00 fee – to your European bank, which necessitated the conversion from EUR to USD, again done automatically, at Kasikorn's European correspondent bank.

I had a quick look what result this kind of double conversion would have produced at my European bank:

 

[attachment=278999:USD-EUR-USD calculation.jpg]

 Nothing unusual. But likely nothing to do with KK. Other banks tend to dip their sticky paws into international transactions, and with currencies other than just USD. I've lost money to fees in the past, and the deductions have been completely opaque.

Why don't you use FairFX for money transfers? You agree the rate with them before they do the transfer. We are in GBP at home and when the exchange rate was 55 to the £ they did it for 54.8 & no transfer fees. Totally reliable & controlled by financial regulations in the UK. Long established.


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If Jesse and Frank James were alive today, they would own banks not rob them.

The correspondent bank has agreed to pay compensation so credit to them and Kasikorn for the quick investigation.

The best way is to get it exchanged to Thai Baht from origin. Just decide how much Baht you want to send and pay exchange fees just once. Always choose the alternative who to pay as divided by sender and receiver even if it is yourself. This work out cheapest for me depending on your bank in your country.

Discussed this a couple of days ago on a thread when I was paying 500,000 into my bank in Thailand from Malaysia. For me i always find the banks expensive compared to money changer and carry yourself , so people disagreed but in this case the money changer offered 9.8 baht to 1 Ringgit,HSBC 9.6 and Bangkok Bank Malaysia , 9.4

FCD account with Krungsi, if USD to USD or Euro to Euro, only transfer costs like Euro/USD 25-30