Recall an Online Bank Transfer ?

[richard_smith237]

A couple of Weeks ago I made a 70,000 baht Transfer via SCB Internet Banking to a Thai CitiBank account.

Upon making the Online Transfer (SCB Easy) after Selecting the Bank (CitiBank) and Account Number there was no Recipient Name displayed. I called SCB at the time who checked the account (again no name came up) they confirmed the account was a valid number.

It turns out the intended recipient has not received these funds. The recipent has checked their Account Number against the printed receipt (from online Banking) - The account number is correct.

What line of recourse might I have?

Obviously I’ve been in contact with SCB who’ve informed me that it will take up to 7 working days to follow up. I’d like to get ahead of the game with any response that SCB may have.

I’d be grateful to know if anyone else has found themselves in the same situation and what they did about it…

[blackcab]

There are two options:

1. If the account you sent the money to does not exist the transaction will be reversed. This normally happens automatically but takes a few days. It will show up on your statement as a reverse.

2. If the account does belong to someone I think it might be more difficult to recover.

Edited November 17, 2015 by blackcab

[Alration]

There are two options:

1. If the account you sent the money to does not exist the transaction will be reversed. This normally happens automatically but takes a few days. It will show up on your statement as a reverse.

2. If the account does belong to someone I think it might be more difficult to recover.

Neither of those situations apply in this case.

SCB's enquiries will be able to confirm whether the funds were received by the beneficiary's bank. If they were received the problem will be Citibank's to solve for their customer. If they haven't got as far as the beneficiary bank SCB will be able to establish the whereabouts of the funds are in the system.

The funds will either get to the beneficiary or you will be re-credited with the amount.

Edited November 17, 2015 by Alration

[mcfish]

If the money was withdrawn from the wrong account they wont refund you. That would be worst case of course

[richard_smith237]

Thanks for the comments so far...

SCB informed me that the transfer was successful... i.e. the funds were paid into 'an' Account.

However, the recipient hasn't recevied the funds (the recipent is trustworth BTW).

We (Or SCB) now have to track where the money ended up.... Unless SCB lead this I'm not even sure about how to go about finding out where an online transfer has mistakenly ended up.

The Banks must have some form of mechanism to chase up transfers which have been lost into the ether. I guess I need to access the right people. I'd prefer not to have to wait 7 days while they take their time and come back with a 'mai-dai' or 'cannot'....

Although I am hoping this is one of those situations whereby when in Thailand I expect a solution to be extremly complex and it turns out to be remarkably simple and fixed quicky...

[PT4]

This thread is several months old, but I'll post anyway, perhaps to help others in similar situations.

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​1. Similar happened to me a few years ago, but SCB bank was the receiving bank. SCB messed up. I contacted the sending bank, and, yes, they did a recall. I got the money back in about a week. (And I paid the fees, which were large.)

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​2. I've had an account at SCB for some years. Within Thailand, things work normally. But any connection to the world outside of Thailand and problems begin.

[richard_smith237]

Update:

In my case the receiving CitiBank Account had been made 'inactive' without informing the Account holder. (the Account holder had not used that specific account for more than a a year).

It took a couple of days, but while SCB believed the money to have left my account, Citibank rejected the transfer and it was returned to my account automatically.