Surely Thai Banking is not so BACKWARD ?

[how241]

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

+1...USA banks are worst.

[Jonmarleesco]

You might, by now, have realised that the TT system here requires human intervention. Accounts with KK should have updated first thing this morning. That said, a lack of activity over the Easter weekend suggests the UK system isn't immune.

[Jonmarleesco]

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 ?

'What's a cheque?' The correct spelling for cheque (check).

[IMA_FARANG]

I have my pension sent from the U.S . Social Saecurity at midnight on the 3rd of every month to Bangkok Bank..... and I receive it and get verification of a transfer of the funds for that month by 12; 05 on the 4th of each month. There is a 12 hour time difference in time zones between Maryland and Bangkok, so noon on the 4th in Bangkok is the same time as midnight the 3rd in Maryland.

That means my direct deposit funds transfer to Bangkok Bank is sent , received at the head Bangkok Bank on Silom Road and credited to my Sukhumvit Road account so that I can see it appear as a incoming foreign funds transfer credit less than 5 minutes after the U.S transfer is initiated when I update my passbook by scanning my Bangkok Bank passbook into the machine. This will work on any month where the 3rd and 4th is not a Bank or official Thai government holiday..... weekends included.

Less than 5 minutes from start of transfer in the U.S. to verification of funds transfer in Thailand halfway around the world.

How mush faster do they have to be.

All done by computer as a batch file process of course.

I expect it will be the same on the 4th of May also.

It's those paper checks that are what slows up the system as they require a human to process them.

Note: for Bangkok Bank ALL incoming funds transfers including electronic transfers go thru the main Bangkok Bank headquarters bank on Silom Road in Bangkok.

Edited April 16, 2015 by IMA_FARANG

[Jonmarleesco]

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.

Because there was a time, not so long ago, when you could clear a foreign cheque same day.

[lucifer666]

Sometimes, they do seem backward. My missus washed my Krungthai passbook, so i took the ruined book ( still fully legible) back to my branch to get a new one. They told me that i had to report it to the police. Go figure.

[arjunadawn]

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 . . .

I am not impressed with Thai banking so far. I recently opened an account, then shortly after tried to deposit checks and was told I have to wait 6 months. I tried to withdraw money from the account and was told I will be charged a fee unless I returned to the place I opened the account. Basically, 100% of the things I have tried to do secondary to opening the account have been thwarted. It doesn't matter to me why this is, only that it has the appearance of inferior banking.

[TallGuyJohninBKK]

Less than 5 minutes from start of transfer in the U.S. to verification of funds transfer in Thailand halfway around the world.

How mush faster do they have to be.

Unless of course if you happen to be the OP, who had either the misfortune or poor planning of having an international bank transfer head for Thailand in the midst of a FIVE DAY LONG Song Kran banking holiday.

[JimGant]

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

Not true. Setting up a transfer with your on-line USAA account asks the question: Do you have, or not have, signature authority (access) over this account? If you answer the latter, no trial deposits are sent (if you don't have access, by definition, you can't identify the two trial deposits). And no two day wait to identify the trial deposits. Of course, this means transfers can only be one-way ("push") -- but this is the only direction you're interested in anyway, at least in certain situations.

This is also the best way to set-up transfer to your Bangkok Bank account, i.e., saying you don't have signature authority. Since you can only "push" to Bangkok Bank anyway ("pulls" will be rejected, if tried), why go through the two trial deposit goat rope? I set up two of my three Bangkok Bank accounts this way -- and the transfers have been trouble free. Interestingly, the third set-up involved saying, "yes, I have signature authority." I never got any notice from USAA to verify trial deposits -- only a message saying something like, "Your transfer bank indicates no "pulls" are authorized, thus we're setting up your transfer account as no signature authority." This was several years ago, and I understand USAA does do trial deposits now for Bangkok Bank account set-up -- if you indicate signature authority.

Sorry to digress. However, there are shortcuts to speedy banking.

Edited April 16, 2015 by JimGant

[dragonfly94]

when different branches of the same bank follow different rules, then yes they are hopelessly backward

[JimGant]

when different branches of the same bank follow different rules, then yes they are hopelessly backward

Welcome to Asia, the land of individual 'rice bowls.'

In the early 80's, I was involved with the automation of the ROK Air Force radar system. ROKAF GCI site commanders had considerable latitude, including whether to orient their radar to true or magnetic North. Fine, in the manual environment. But when automated, getting multiple returns from a single aircraft to coincide as a single track is impossible without standardized orientation. Going operational was delayed, as was getting our US Air Force controllers off those isolated GCI mountain tops. All because of 'rice bowl' mentality -- a system hard to crack, even from the top.

And we see this all the time in Thailand. Not just with banks, but with Immigration, etc. The price of moving to the Orient.

[schweizer]

The speed of international transfers is often not the fault of an individual bank,with the advent of IBAN, BIC and SWIFT transfers can be done virtually instantaneously, the problem comes that many countries on a federal level insist that the transfer first runs through a national bank holding account before being transferred to the target account at the local bank, this invariably results in delays.

Also many smaller local banks (in the US for example) use a larger banks transfer system for international banking resulting also in delays

[balo]

Kasikorn is one of the best internet banks available, very userfriendly and safe to use.

The only problem I have with banks in Thailand is that you have visit your local branch every time you need to do something with the local account , they will not assist you in another branch even if they all use the same computers.

[bdenner]

Less than 5 minutes from start of transfer in the U.S. to verification of funds transfer in Thailand halfway around the world.

How mush faster do they have to be.

Unless of course if you happen to be the OP, who had either the misfortune or poor planning of having an international bank transfer head for Thailand in the midst of a FIVE DAY LONG Song Kran banking holiday.

You obviously did not look at my Post #17 and get a grip on what I'm on about. Local transactions do not need human intervention UNLESS - when turning the lights off upon leaving the office for Songkran they pull the plugs on their computers as well!

[gandalf12]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

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.

No I mean they are out of touch with the 21st century. I had to wait for 2 weeks to receive a PIN and chip ATM card in Calgary. In Thailand with th Bangkok Bank I set up the account, received Internet banking and had a full PIN and chip ATM card within 30 minutes.

Canada is a retarded country

[maswov]

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

This process is only if it is your own account with a different banking institution. I tried to do this with my sister's account, had her tell me what the trial deposits were and verified. Looked good at first but then they locked my account. I had to go through some verification to unlock my account and was told the accounts must belong to the same person.

[maswov]

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?

Makes me a jokester. Lighten up Alice.

[samsensam]

in the UK we call these holidays 'bank holidays' the answer to your question is in the name.

in thailand, as in any country, you need to be organised and work around public holidays.

[technologybytes]

Kasikorn is one of the best internet banks available, very userfriendly and safe to use.

The only problem I have with banks in Thailand is that you have visit your local branch every time you need to do something with the local account , they will not assist you in another branch even if they all use the same computers.

I agree that Kasikorn has the best internet banking, but in my opinion Bangkok Bank has the best counter service and the most professional staff.

I have seen some really stupid Kasikorn staff, so far I cannot say the same about Bangkok Bank, except that smaller branches often do not like to open accounts for foreigners without a work permit.

[elgenon]

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.

If the check is made out to the bank, no ploblem!

[Robert24]

@bdenner: don't really understand what doesn't work on your end. I see domestic transfers within 30 minutes on my account. I also have a Kbank account and get a real time view on transactions on my account. Can you explain what doesn't work on your end? As for international payments in THB are done on a T+2 basis. So you made the payment on the 9th, you will see the funds in your account on the 16th. You paid on the 10th, you will see it today. This is standard international practice. Nothing to do with Kbank or Thailand.

[thedivezone]

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 . . .

Have you made this post to demonstrate to us how wealthy you are ? ( or how ignorant ?)

Open new bank account, deposit cheque, wait for cheque to clear, withdraw money, close account, done !

Farangness . .