How do banks get away with such blatant corruption?

[Soutpeel]

My last transfer in May went through the next day, charged 1000 baht by sending bank, NW, 1400 baht by receiving bank Tanachart and 750 baht by intermediary HSBC bank, it's getting expensive. Complaints to all except the home bank, including the consumer 'protection office in BKK never received replies

i can well understand why they never responded.....what exactly is your complaint ? You authorised this transaction and they have provided the service requested, and aa with every service their is typically cost involved

'... what exactly is your complaint ?' The number of channels involved in the 'service', perhaps. The intermediary bank system is a scam, no question.

The intermediary bank is not a scam in the least, you obviously have no idea how the system works, your ignorance of the system doesnt make it a scam, if you had done your due dilligence in the banks you use on both ends and picked the correct ones there would be no need for an intermedediary bank to affect the transaction

I never claimed the intermediary bank was a scam, it's a charge that never used to apply. What is a scam is both the sending and beneficiary banks charging a total of over 2k baht for the 1k baht transfer fee. A further scam here is the deciding what the exchange rate will be to favour them. Once they gave me the rate which was lower when they received it to when the idiots got round to put it in my account. On a 2 million transfer they did it the other way round, not the higher rate when they got it but the lower rate when the finally put it into my account- a loss of 40k baht, thieves.

Your words not mine " the intermediary bank system is a scam, no question "

Make your mind up

[MyFriend You]

I fail to see the "Corruption" aspect of your post,,,,,,,,,,,,where is the corruption you allude to in your subject - inefficiency, laziness, excessive cross checking etc etc etc............my deposits from the US go into my SCB in two days, on third day the oney is available. I just opened a Bangkok Bank account to take advantage of possibly Social Security sending my check direct to the New York Branch, so I can access it Thailand..........

[seancbk]

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

Exactly.

Never had it take more than a few hours to arrive in my bank account in Bangkok, except when the bank sending it has screwed up.

[fleur3]

Posted Yesterday, 18:22

Posted Yesterday, 18:22

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

You use the word corruption very easily !! Your complaint could be valid but the wording is not correct.

[Soutpeel]

Posted Yesterday, 18:22

Posted Yesterday, 18:22

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

You use the word corruption very easily !! Your complaint could be valid but the wording is not correct.

Horse shit, i regularly transfer money into Thai bank accounts and a day or two maximum has been the norm over the last few years its not a week or 10 days

[JSN777]

I am with Kasikorn - if i transfer funds online from my uk bank account to my Thai bank account and do at 3pm thai time (9am uk) the money is in my account within 2 hrs. One week ? Appears extreme.

[meatboy]

as i got stumped for 7,000bht.28/4/2015 by scb.i shall test them with a tranfer on monday,same time,thai time to the uk.12noon.so lets see if they give the rate thai time 1.30pm.same day.as they did on the 28th.one hour and a half after instructing the uk.bank 6am.uk.time.

Edited July 25, 2015 by meatboy

[nithisa78]

from the USA BBVA Compass Bank to Thai bank, 2 to 24 hours. both Bangkok Bank and Kasikorn have offices USA.

[Pib]

from the USA BBVA Compass Bank to Thai bank, 2 to 24 hours. both Bangkok Bank and Kasikorn have offices USA.

But Kasikorn does not have ACH capability like Bangkok Bank. A person must use the pricey SWIFT method to get money to Kaiskorn.

Edited July 26, 2015 by Pib

[meatboy]

as i got stumped for 7,000bht.28/4/2015 by scb.i shall test them with a tranfer on monday,same time,thai time to the uk.12noon.so lets see if they give the rate thai time 1.30pm.same day.as they did on the 28th.one hour and a half after instructing the uk.bank 6am.uk.time.

yesterday it arrived same time 1.30pm.but this time i got the rate that they posted at 12.28 as the rate at 13.32 was slightly up.oh well it was only 200bht this time.

[ableguy]

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

Correct 100 per cent.

[ableguy]

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*.

-----------------

I'll say this again..... I've posted this before.

I have my U.S. Social Security pension direct deposited to my Bangkok Bank account in Thailand.

My pension is sent monthly from the International operations section of the Social Security in Maryland.

They do a batch transfer via computer for overseas Social Security pensioners at Midnight on the 3rd of every month from Maryland.

There is a 12 hour time difference between Maryland and Bangkok Thailand.

Midnight on the 3rd in Maryland is equivalent to noon of the 4th on the next day here in Bangkok (day difference due to the International Date line).

If I am waiting with my passbook at 12 noon at the Bangkok Bank main bank I can draw on my monthly pension transfer at 12:05.... or a total transfer time of 5 minutes from the funds release in Maryland to authorized as available for withdrawal in My Bangkok Bank account.

Yes, it takes some effort to set this up initially, but once you have the system working and have provided all the required documents your funds can litterly be transferred halfway around the world in 5 minutes or less.

I've done it or rather seen it done.

Yes, it works.

My SS can be in my bank on the first or second day of the month, only delays is when there is a Thai four day weekend, set this up at the head office of Bangkok bank in Silom