Nationwide To Krung Thai via SWIFT - Extra Charge from HSBC

[JetsetBkk]

Nationwide's SWIFT charge used to be 25GBP, but recently was reduced to 20GBP.

However, I noticed that HSBC made a charge of about 12GBP even though on the SWIFT document I specified "additional charges to be debited from sender's account". For over a decade, I've never paid extra charges other than the 25GBP (now 20GBP) from Nationwide.

It turns out that since 23rd July this year, the route the money takes has changed. This from Nationwide:

Please be advised that when making SWIFT payments, Nationwide use HSBC as an intermediary bank in order to process these requests. Having been in contact with HSBC, they have confirmed that the previous SWIFT payments that you have requested were paid into the Krung Thai Banks public account held at HSBC London, therefore HSBC did not use an intermediary to make this payment. However as of 23 July 2014, a new rule was put in place which means that any Pound Sterling payments made to Thailand must now route through HSBC Thailand rather than the Krung Thai Banks public account held at HSBC London.

I've no idea if this applies to any other UK bank or Thai bank.

[Pib]

The "rule" they refer to is probably just a HSBC policy change to route their money through their own subsidiary of HSBC Thailand versus into the KrungThai public account at HSBC in order to make a fee. Some junior HSBC bank executive probably got a bonus or promotion from this new fee idea.

[srn89]

H.S.B.C. charge me 4.00 Pounds for a Sterling Transfers to Thailand.

[mataleo]

any one knows other way around? thailand to uk

im interested krung thai to nationwide

whats fee and how long

[Isan Farang]

H.S.B.C. charge me 4.00 Pounds for a Sterling Transfers to Thailand.

I assume that's not sent from Jersey ?

[The Fat Controller]

Nationwide to SCB or Bangkok Bank is the flat £20

Receiving fees at both Thai banks 0.25% with a maximum of 500 THB

No third-party bank involved

[JetsetBkk]

The "rule" they refer to is probably just a HSBC policy change to route their money through their own subsidiary of HSBC Thailand versus into the KrungThai public account at HSBC in order to make a fee. Some junior HSBC bank executive probably got a bonus or promotion from this new fee idea.

H.S.B.C. charge me 4.00 Pounds for a Sterling Transfers to Thailand.

any one knows other way around? thailand to uk

im interested krung thai to nationwide

whats fee and how long

Nationwide to SCB or Bangkok Bank is the flat £20

Receiving fees at both Thai banks 0.25% with a maximum of 500 THB

No third-party bank involved

Just to let everyone know the final outcome of this event, Nationwide agreed to refund me the £12 I was charged by HSBC Thailand and to give me £50 compensation by way of an apology.

But I'll still have to pay the extra £12 from now on.

[mataleo]

The "rule" they refer to is probably just a HSBC policy change to route their money through their own subsidiary of HSBC Thailand versus into the KrungThai public account at HSBC in order to make a fee. Some junior HSBC bank executive probably got a bonus or promotion from this new fee idea.

H.S.B.C. charge me 4.00 Pounds for a Sterling Transfers to Thailand.

any one knows other way around? thailand to uk

im interested krung thai to nationwide

whats fee and how long

Nationwide to SCB or Bangkok Bank is the flat £20

Receiving fees at both Thai banks 0.25% with a maximum of 500 THB

No third-party bank involved

Just to let everyone know the final outcome of this event, Nationwide agreed to refund me the £12 I was charged by HSBC Thailand and to give me £50 compensation by way of an apology.

But I'll still have to pay the extra £12 from now on.

Its cuz nationwide is building society.

They got acc in HSBC

When u send from thai to nationwide it goes to HSBC then to nationwide.

I got UK hsbc so better send from thai direct to hsbc i guess..

[The Fat Controller]

My Nationwide to SCB payment in October DID NOT have any charges from HSBC

Maybe it's just a Krung Thai thing....

No idea of incoming charges FROM Thailand, the money only goes one way LOL

[wooloomooloo]

You could investigate an f/x account in London. Easy online sign-up and favourable rates.

[smedly]

worth including here as similar topic

one thing to note that has not been mentioned here is that HSBC in Thailand do the exchange into Thai Baht and it is not as good as most local banks

http://www.thaivisa.com/forum/topic/824862-bangkok-bank-taking-the-deleted/?view=getnewpost

[euca]

worth including here as similar topic

one thing to note that has not been mentioned here is that HSBC in Thailand do the exchange into Thai Baht and it is not as good as most local banks

http://www.thaivisa.com/forum/topic/824862-bangkok-bank-taking-the-deleted/?view=getnewpost

A few good points here. Nationwide have used hsbc for years. That's where most of your charges go. Use an Inet forex bureau to avoid it. There are enough to choose from; you can browse & find them. As said above, they are easy to access; I use Smart Currency but last time I did NWide direct & got a useful upswing on stg. Let your Thai bank make the exchange if you go direct as you will always get a better rate than from the yUK banks. My experience with hsbc was horrible & I would avoid them like the plague. but I believe that their directors are honest, just that their management [like BP] has been hollowed out to cut costs & has for some years now included too many one would choose to avoid. Of course you would also prefer not to share your monies with a totally undeserving Thai branch of hsbc [which I used to find excellent...] as there is no good reason, unless you are hsbc, to route your transactions through them; a forex bureau will give you a rate you can rely on and send direct to your Thai bank & you will usually get a rate similar to that which your Thai bank would have given you.

Of course Nwide is being lazy here. Customers foot the unnecessary bill for an 'intermediate bank' so they don't care. I haven't complained as I knew one voice crying in the wilderness would do nowt but one hundred? Well, perhaps we are two...