How do banks get away with such blatant corruption?

[nongai]

If a European bank sends money to my UK bank account then the money arrives within a hour (but usually minutes). ...but a similar transaction sent to a Thai bank means that one must wait a week or ten days before it reaches your account..... disgusting.

[TheAppletons]

You're using the wrong bank(s) then. Doesn't take that long at Bangkok Bank.

Edited July 23, 2015 by TheAppletons

[Crossy]

Indeed^^^

I have exactly the opposite problem, from my Luxembourg bank to BBK Bank is less than 24 hours, to my UK bank 4 days

[Pib]

Yea you got problems on your sending bank end.

[lovelomsak]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

Edited July 23, 2015 by lovelomsak

[MichaelJohn]

I send mine late afternoon (Thai time) from UK and it's always there next morning ............. :-)

[Pib]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

Assuming you are talking a Thai bank you are not earning interest probably because they have your account coded as a non-resident in Thailand....maybe by mistake...maybe intentionally. Happens frequently if you opened the account when only having a tourist visa or no visa at all (i.e., just the 15 to 30 days entry given upon entry for a short visit/vacation)...also seen it happen for folks on a long stay visa like on a retirement visa/extension of stay, marriage visa/extension of stay, etc.

Go to the bank and tell them you live in Thailand...give them your Thai address...have them code it as interest earning...you then earn interest. Yeap, the bank probably has you coded as a non-resident.

Edited July 23, 2015 by Pib

[lovelomsak]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

Assuming you are talking a Thai bank you are not earning interest probably because they have your account coded as a non-resident in Thailand....maybe by mistake...maybe intentionally. Happens frequently if you opened the account when only having a tourist visa or no visa at all (i.e., just the 15 to 30 days entry given upon entry for a short visit/vacation)...also seen it happen for folks on a long stay visa like on a retirement visa/extension of stay, marriage visa/extension of stay, etc.

Go to the bank and tell them you live in Thailand...give them your Thai address...have them code it as interest earning...you then earn interest. Yeap, the bank probably has you coded as a non-resident.

First I would like to apologize to the OP for inadvertantly changing the thread for a moment.

Do you think if I took my yellow book to the bank that would suffice to get the resident status.

I have been on retirement visa the whole time so donot know why this would happen

Edited July 23, 2015 by lovelomsak

[Pib]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

Assuming you are talking a Thai bank you are not earning interest probably because they have your account coded as a non-resident in Thailand....maybe by mistake...maybe intentionally. Happens frequently if you opened the account when only having a tourist visa or no visa at all (i.e., just the 15 to 30 days entry given upon entry for a short visit/vacation)...also seen it happen for folks on a long stay visa like on a retirement visa/extension of stay, marriage visa/extension of stay, etc.

Go to the bank and tell them you live in Thailand...give them your Thai address...have them code it as interest earning...you then earn interest. Yeap, the bank probably has you coded as a non-resident.

First I would like to apologize to the OP for inadvertantly changing the thread for a moment.

Do you think if I took my yellow book to the bank that would suffice to get the resident status.

I have been on retirement visa the whole time so donot know why this would happen

Yes sir, a Yellow Book would do it because a Yellow Book is a Thai govt issued document saying you have an address in Thailand.

However, with a long term visa/extension of stay you shouldn't need a yellow book. But, as been discussed in many, many posts Thailand is the Kingdom of Individual Bank Branches which have variations in their rules and policies on accounts. Some branches just try to get-over on farangs.

For the OP: although I haven't done a wire transfer in around 4 years since I get my money via no foreign transaction fee cards that also reimburse ATM fees, when I did do "ACH" transfers (a bulk, low cost transfer system used in the U.S.) from the U.S. to my Bangkok Bank account it usually took 1 to 3 business days...the few times I did a SWIFT transfer it arrived in one day/same day.

Edited July 23, 2015 by Pib

[Suradit69]

a similar transaction sent to a Thai bank means that one must wait a week or ten days before it reaches your account.....

Maybe you have to wait 7 to 10 days, but it's never happened to me or, apparently, others. Hardly an issue of corruption in any event . The banks paying millions in fines for illegal behavior are located in Europe and the US.

Ask the sending bank to trace the transfer ... or change banks. Maybe you're supplying incorrect routing or account information that causes the delays. Hopefully you're making the transfer in your home country currency and not asking your home bank to send baht.

I love how some posters take a problem they have and generalize it to all Thais or all Thai Banks or to all bank customers.

Edited July 23, 2015 by Suradit69

[Dario]

No worries, nongai, I just sent you a PM. You'll be excited.

[oneday]

Wire transfer from Bank of America to BKK bank. I time it right. I make the transfer at 9pm at night (about 9am in the US) and it is at my BKK bank between 1-3pm the following day. Once it didn't come in until 6pm for some reason. I've made up to 15 transfers over the last 6 years.

Edited July 24, 2015 by oneday

[JRinPDX]

I've seen the situation, (in the US), where if you send in $, it goes pretty quickly, but if you send in Baht, it goes to another bank for conversion first.. adding *days*.

[PattayaPhom]

Its only bout 2 years that UK banks transfer immediately, it used to be 3 working days by BACS, if a long weekend or Christmas time you could be looking at anything upto 10 days, whereas Thai banks have had instant transfers for many years..are you using swift as that should be there the next working day

[zig]

It varies from bank to bank. The transfers that are being sent to me within Europe usually arrive in a period from one hour to few days, from Europe to Thailand usually takes 1-4 working days. My transfers from SCB to banks in Europe usually arrive within few hours.

Admittedly, some specific banks in Europe are much worse than others in terms of handling transfers.

To the other member - all bank transfers cost money. If your bank in Canada claims to make transfers for free then it just means that the transfer charge is fully charged to recipient /beneficiary.

[cnx355]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

I send my money from Canada and I almost always get the money within 24 hrs. ( banks working days)

I send Canadian dollars from Canada. Exchange is done in Thailand.

My Canadian bank charge me 30 CAD. A Canadian friend use another bank that charge 15 CAD

My Thai Bank is Krungsri Bank ( Bank of Ayudhya ) transfer are deposit in the afternoon late.

My friend with Bangkok Bank money is deposited in the morning.,

In all my account in all Thailand Bank( 3 different bank) I receive interest deposited twice yearly.

From reading Thai visa, another poster mentioned that the Government Saving Bank in Thailand do not give interest to foreigners.

Not sure if Krungthai Bank is also a government Bank . The other ones are private banks.

Maybe you could explore another Thai Bank and see if you have better result with transfert and interest.

Edited July 24, 2015 by cnx355

[1FinickyOne]

Every time I have sent money to Kasikorn Bank it arrives the next morning - wired at night here. Could not be better.

One time - and for me last time - I transferred to a Bkk Bank and it took nearly a week…

[Soutpeel]

Where is the corruption in what your talking about OP ?

[alanrchase]

Could be to do with which clearing bank they use in Thailand. My UK bank happens to use my Thai bank as their clearing bank, so quick transfer as only two banks involved.

[1FinickyOne]

ps - as to corruption???

steal [or charge] a dollar and people go crazy...

steal a billion and it is too big for people to comprehend.. not a big problem for most.

[tigermoth]

I send money from my account in Australia, costs AUD$20. If I send before midday in Australia it arrives the same afternoon in my Thai bank, no charges.

[Litlos]

The OP is probably using a bank without direct TT capabilities and then it goes through an intermediate bank, the answer may be to use a larger bank or something like XE.com transfer. I can transfer funds from Singapore in USD and have it in Siam Bank within 2 hours. From Australia in AUD to KBank about 4 hours, but that is the useless Australian HSBC office delay.

I am finding that I am getting better rates by bringing in the funds in overseas currency and getting transferred to Baht here.

For almost real time rates have a look at http://bankexchangerates.daytodaydata.net/default.aspx

Depending on the incoming currency which banks give the better rates eg for USD SCB are good on average from experience, for AUD CIMB at the moment. UOB seem to be middle of the road on most currencies.

Cheers

[Capt Rob]

a similar transaction sent to a Thai bank means that one must wait a week or ten days before it reaches your account.....

Maybe you have to wait 7 to 10 days, but it's never happened to me or, apparently, others. Hardly an issue of corruption in any event . The banks paying millions in fines for illegal behavior are located in Europe and the US.

Ask the sending bank to trace the transfer ... or change banks. Maybe you're supplying incorrect routing or account information that causes the delays. Hopefully you're making the transfer in your home country currency and not asking your home bank to send baht.

I love how some posters take a problem they have and generalize it to all Thais or all Thai Banks or to all bank customers.

Usually 3 to 4 days with BKK bank - I believe it helps their bottom line, short term cash interest free.

Rob

[mikiea]

You're using the wrong bank(s) then. Doesn't take that long at Bangkok Bank.

wawawa wawawa wawaawwa this is a world wide practice , find another bank that is not as harsh . everyone wants a chunk of your sin sot money ..........

[mikiea]

With my bank here they hold the money in bangkok then charge around 1500 baht to transfer to my account My bank in Canada sends it for free.. Also had same savings account for more than 8 years always maintain minimum of 1,500,000 in account and not one baht of interest in 8 years. and this is a government bank.

huh............did the bank send someone to kiss you ? no ?....... after having their way with you not even a kiss ? head outter keester ...change banks .asap .

[brewsterbudgen]

Online transfers from Lloyds to Bangkok Bank are completed (for me anyway) in about 2 working days.

[mikiea]

do not know why there is a problem . i get my money in a matter of minutes , and a hand written thank you addressed to "Hansum Man . ....

[micmichd]

It's not corruption, it's capitalism.

Time is money.

You give credit to banks, they make your "money work" Ie. They give it away to someone else and collect interest for that, certainly a higher percentage of what you get. The longer they keep your money in tge transfer queue, the more money they make out of your money.

[DavidB4]

I find it interesting that a PayPal wire transfer takes about a week to arrive here in Thailand but when I pay Google for advertising they can take it out of my account here immediately and there is no transfer fees.

[Sutty]

HSBC UK TO BANGKOK BANK overnight charge from HSBC £4 great service Exchange rate favourable. Done two weeks ago