Surely Thai Banking is not so BACKWARD ?

[bdenner]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

[ubonjoe]

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

[Swiss1960]

question is when did the international transaction leave the senders account?

Since 11/12 April was weekend and since 13-15 April are BANK holiday in Thailand, banks will NOT process transactions, therefore you will not see any

Edit: google "Thailand Bank Holiday 2015" for the complete list

Edited April 15, 2015 by Swiss1960

[Pib]

^^^^What ubonjoe and Swiss1960 said. If the transfer was actually transmitted by your home country bank several days ago then the funds should post to your K-bank account sometime on 16 April when Thai banks fully go back to work.

Thailand 2015 Bank Holidays Per Bank of Thailand: Link

[Soutpeel]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

About as backward as the UK & USA and other farangistan countries who don't operate on bank holidays or weekends either Edited April 15, 2015 by Soutpeel

[Suradit69]

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

Yes, I'm waiting for them to credit a deposit I made to Bangkok Bank in New York. I knew it would be delayed because of long holiday. Not sure if the NY branch closes for three days, but I expected there would be a delay at this end. Not a big deal and it's understandable.

If you need to have a transfer traced, it should be done by the SENDING bank not the receiving bank.

Edited April 15, 2015 by Suradit69

[maswov]

Its a holiday dude, no different than the rest of the world. Stop complaining just to complain, makes you sound like a wife.

[Langsuan Man]

I personally think the Thai banks are way ahead of US banks in many areas

Try depositing money in someone elses account in the US, it is a long drawn out process there, where here in Thailand, just a couple of mouse clicks will get it done. ATM's are everywhere here in Thailand, not so in the US

Why the OP is expressing any surprise that it would take some time to have a transfer credited during Songkran has nothing to do with the banking system but with a defferent way of handling holidays. The Post Office was also closed for three days but that does not mean that the postal service is backward

I mean it's not like Songkran and the disruptions should come as a surprise since it happens every year

Proper Prior Planning Prevents Piss Poor Performance

[quandow]

Yes, they ARE backwards! I had a physical check for $53 from Bank of America. I tried to deposit it into my SBC savings account at a Chonburi branch, they said I could only do this at the branch I originally opened the account in Pattaya. It wasn't worth taking a day off from work to drive to Pattaya just to deposit this check, it's now dust in the wind. Thainess . . .

[TallGuyJohninBKK]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

About as backward as the UK & USA and other farangistan countries who don't operate on bank holidays or weekends either

The difference is, at least in the U.S., the LONGEST official holiday you'll usually encounter is a 3 day long weekend, with a Friday or Monday extra holiday. Not the Thai version of a two day weekend plus three additional weekdays, for a total of 5 days out of commission.

In similar vein, though, there was a news post here the other day on the police investigation into the big Surat Thani co-op fire -- which may or may not be linked to the Central mall bombing there -- that said their investigation was being delayed because of a shortage of police staff over the Song Kran holiday.

[chiang mai]

Yes, they ARE backwards! I had a physical check for $53 from Bank of America. I tried to deposit it into my SBC savings account at a Chonburi branch, they said I could only do this at the branch I originally opened the account in Pattaya. It wasn't worth taking a day off from work to drive to Pattaya just to deposit this check, it's now dust in the wind. Thainess . . .

Talking of being backwards: do you know what the clearing time and costs are associated with clearing a USD cheque drawn on BOA, in Thailand! I have to ask myself why anyone would want to that.

[jacko45k]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

About as backward as the UK & USA and other farangistan countries who don't operate on bank holidays or weekends either

Personally I try to ensure International transfers are not made near any bank holidays at either end.

It isn't the banks' fault but I do get edgy until the money arrives!

[masuk]

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

In February, I made the mistake of transferring my pension here in Baht, using International Telegraphic Transfer. It was processed in Australia and sent here the same day - then it went off the map.

It took 5 days for BKK bank to locate the money and credit my account. Normally my money is sent in dollars and arrives the same day.

I can only guess that something like 'short term investment' took place.

[oneday]

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

Yes, it is that way in America as well. Weekends and holidays their computer systems do not process transaction or at least they are not available for display in our online banking.

[KarenBravo]

Backward banking?

Doesn't the love of various stamps and signing your signature until your hand aches, kinda answer that question?

[DrTuner]

Cheques? The mother of all backwardness. Haven't seen one since the 90's.

[bdenner]

This is what I'm on about, the screen shot of my Statement was taken a few minutes ago. Forget international transactions where are the 6 or so local transactions completed since the 9th?

AND Bankbooks - "Immigration department Bibles"! How backward is that?

Edited April 16, 2015 by bdenner

[ToddinChonburi]

No bank post weekends or Holidays, you just got the double wammy here. Sometimes things done on weekends do not post until Tuesday.

[bazza40]

It's the float. Every day any bank that is party to a transfer can keep from transmitting it, or transferring it to your account when they receive it, is a day when they collect interest on it. What's called floating money, hence the term. Adds up to big money with millions of transfers. Some banks are greedier than others.

[yardrunner]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

About as backward as the UK & USA and other farangistan countries who don't operate on bank holidays or weekends either

The difference is, at least in the U.S., the LONGEST official holiday you'll usually encounter is a 3 day long weekend, with a Friday or Monday extra holiday. Not the Thai version of a two day weekend plus three additional weekdays, for a total of 5 days out of commission.

In similar vein, though, there was a news post here the other day on the police investigation into the big Surat Thani co-op fire -- which may or may not be linked to the Central mall bombing there -- that said their investigation was being delayed because of a shortage of police staff over the Song Kran holiday.

let us hope that the police were making sure that they could cover the busy period over Songkran and were not all taking a Songkran holiday

[Suradit69]

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

Yes, I'm waiting for them to credit a deposit I made to Bangkok Bank in New York. I knew it would be delayed because of long holiday. Not sure if the NY branch closes for three days, but I expected there would be a delay at this end. Not a big deal and it's understandable.

If you need to have a transfer traced, it should be done by the SENDING bank not the receiving bank.

Got an SMS Thurs morning at 8:30 showing that the deposit had been credited. Exchange rate is down to Baht 32.38/US$ ... but it arrived just as expected. Have to agree with Langsuan Man. I've never had any issues with Bangkok bank, unlike a US bank or two.

Incoming transfers are not processed if it is a bank holiday or on weekends. It has always been that way. I would guess most countries operate that way.

Domestic transfers and etc are sill processed

In February, I made the mistake of transferring my pension here in Baht, using International Telegraphic Transfer. It was processed in Australia and sent here the same day - then it went off the map.

It took 5 days for BKK bank to locate the money and credit my account. Normally my money is sent in dollars and arrives the same day.

I can only guess that something like 'short term investment' took place.

"In February, I made the mistake of transferring my pension here in Baht ..."

Usually that gets you the worst exchange rate and higher charges here ... and probably won't show on your account as a foreign sourced deposit.

Edited April 16, 2015 by Suradit69

[Suradit69]

It's the float. Every day any bank that is party to a transfer can keep from transmitting it, or transferring it to your account when they receive it, is a day when they collect interest on it. What's called floating money, hence the term. Adds up to big money with millions of transfers. Some banks are greedier than others.

Yes, but I don't earn any interest on my US checking account and very little from my Thai bank so whether they credit it to me or not, they're holding my money virtually free of charge ... and my US bank makes the transfer the same day at no charge to me. In fact my US checking account doesn't charge me for anything and doesn't pay me for anything.

PayPal et al benefit by taking a few days to complete a transfer and benefit from the float because the money was never theirs to hold.

This is what I'm on about, the screen shot of my Statement was taken a few minutes ago. Forget international transactions where are the 6 or so local transactions completed since the 9th?

AND Bankbooks - "Immigration department Bibles"! How backward is that?

"AND Bankbooks - "Immigration department Bibles"! How backward is that?"

You seem to be really reaching for a reason to call Thailand backward and not doing yourself any favors in the process.

Edited April 16, 2015 by Suradit69

[BudRight]

I personally think the Thai banks are way ahead of US banks in many areas

Try depositing money in someone elses account in the US, it is a long drawn out process there, where here in Thailand, just a couple of mouse clicks will get it done. ATM's are everywhere here in Thailand, not so in the US

Why the OP is expressing any surprise that it would take some time to have a transfer credited during Songkran has nothing to do with the banking system but with a defferent way of handling holidays. The Post Office was also closed for three days but that does not mean that the postal service is backward

I mean it's not like Songkran and the disruptions should come as a surprise since it happens every year

Proper Prior Planning Prevents Piss Poor Performance

If by 'long drawn out process' you mean deposit cash and it shows up instantly, then yes it's a long drawn out process there. Even transfer times between USAA accounts, no cash, is measured in seconds, just like Thailand

That said, ATM based transfer is much more expedient in Thailand, though such lacks the ability to 'pull' and not just 'push' funds.

Edited April 16, 2015 by BudRight

[gandalf12]

The system of banking here in Thailand is actually very good. If you want bank banking systems try Canada they are 50 years behind the times

[technologybytes]

Honestly, I find Thailand banks to be far superior to US or UK banks in many respects.

Ease of domestic transfer, you can send money to anyones account via ATM.. try doing that in the UK or US.

No Questions Asked... this is a big one for me, in the UK I'm treated like a criminal if I want to withdraw or deposit large amounts of cash. Thailand, no problem.

Paying in foreign checks.. once you have a track record with Bangkok Bank you see international checks processed same day with minimal fees up to US$10,000

Incoming ACH transfer facility with Bangkok Bank at minimal cost... show me one other county outside the USA that offers that !

ATM cards never blocked just because you use it overseas without telling them first.

Massive ATM withdrawal limits (any normal bangkok bank account can be set to US$5000 per day limit on request, higher for established customers.

All this available to foreigners, even tourists.. show me another country where this is possible.

Downside: If you are a victim of fraud you are probably on your own, you will get sympathy but little else.

[Langsuan Man]

I personally think the Thai banks are way ahead of US banks in many areas

Try depositing money in someone elses account in the US, it is a long drawn out process there, where here in Thailand, just a couple of mouse clicks will get it done. ATM's are everywhere here in Thailand, not so in the US

Why the OP is expressing any surprise that it would take some time to have a transfer credited during Songkran has nothing to do with the banking system but with a defferent way of handling holidays. The Post Office was also closed for three days but that does not mean that the postal service is backward

I mean it's not like Songkran and the disruptions should come as a surprise since it happens every year

Proper Prior Planning Prevents Piss Poor Performance

If by 'long drawn out process' you mean deposit cash and it shows up instantly, then yes it's a long drawn out process there. Even transfer times between USAA accounts, no cash, is measured in seconds, just like Thailand

That said, ATM based transfer is much more expedient in Thailand, though such lacks the ability to 'pull' and not just 'push' funds.

Of course you can deposit cash into someone elses account instantly, that is a no brainer

But if I want to transfer funds using my USAA accounts to another persons bank account in the US, then I have to do a trial deposit, wait for it to be done, verify it and then make a transfer (takes a couple of days). and that is a long drawn out process

In Thailand all I do is give my SCB or Bangkok Bank the persons account number, I will get an OTP immediately and then can transfer as much as needed once I input the OTP and the amount I want transferred. That certainly is not backward

[Broeno]

Its a holiday dude, no different than the rest of the world. Stop complaining just to complain, makes you sound like a wife.

You just can ignore it, but you like to insult people. What dus that makes you?

[dunque]

Yes, they ARE backwards! I had a physical check for $53 from Bank of America. I tried to deposit it into my SBC savings account at a Chonburi branch, they said I could only do this at the branch I originally opened the account in Pattaya. It wasn't worth taking a day off from work to drive to Pattaya just to deposit this check, it's now dust in the wind. Thainess . . .

Talking of being backwards: do you know what the clearing time and costs are associated with clearing a USD cheque drawn on BOA, in Thailand! I have to ask myself why anyone would want to that.

What's a cheque ?

Have they got chip and PIN in the US yet ?

[NoshowJones]

The system of banking here in Thailand is actually very good. If you want bank banking systems try Canada they are 50 years behind the times

You mean Canadian bank managers have the power to make rules as they please, some banks will allow this and some won't?

That's what happens with Thai banks.

[robertson468]

Been trying to trace International Transactions into my KasiKornBank now for days via Internet Banking. NOT one update in my account statements since the 9th April!!

Is this country so backward that their banking/commerce system shuts down over a LONG Weekend?

About as backward as the UK & USA and other farangistan countries who don't operate on bank holidays or weekends either

And it's why they are called "Bank Holidays" because the Bank IS on holiday - DUH!