Is it best to ask my UK bank to pay the SWIFT 20 pound fee or my Thai bank, the receiving bank? I think I may be getting charged at both ends when I request the sending bank in the UK to pay the fee.

HSBC only charge 4 pounds. use them and always send in gbp.

HSBC only charge 4 pounds. use them and always send in gbp.

ok if you have an HSBC account

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There are 2 fees, you MUST pay the UK bank the SWIFT transfer fee.

As far as I know ALL Thai banks charge a receiving fee, SCB and Bangkok charge 0.25% with a maximum fee of 500 Baht.

You have the option to choose who pays the receiving bank fee, if you choose you own bank, this charge-back from the Thai bank will take a few weeks and may be more than the 0.25% !

Edited May 26, 201610 yr by The Fat Controller

If you use Nationwide there is an extra fee by their intermediate bank in Bkk (HSBC)

There are 2 fees, you MUST pay the UK bank the SWIFT transfer fee.

As far as I know ALL Thai banks charge a receiving fee, SCB and Bangkok charge 0.25% with a maximum fee of 500 Baht.

You have the option to choose who pays the receiving bank fee, if you choose you own bank, this charge-back from the Thai bank will take a few weeks and may be more than the 0.25% !

As mentioned, some UK banks charge less than the common £20 sending fee. One of my UK banks charges nothing at all for sending.

As far as I know it is also usually possible to have the sending charge paid by the recipient, though I suspect that this merely entails deducting the fee from the amount sent.

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Deleted...posted by mistake...see below post.

Edited May 27, 201610 yr by Pib

See below snapshot from another website (unnamed) at it explains the SWIFT codes your Sending bank may use/offer (except maybe in different/vague wording) in asking you how you want to accomplish the transfer and share (or not share) the possible fees along the way with the beneficiary. These codes are part of the SWIFT system which the bank must use when using SWIFT...but like I said they may offer the codes/methods up in a more User Understandable/Friendly or Less Understandable/Friendly way. Some banks do have skill in being vague in their wording especially when fees are involved, whether to allow them to accomplish the currency conversion, etc.

Best to use the Shared code (SHA) approached as that means each bank along the way like any correspondent bank and the receiving bank deduct their fees as the funds flow through them versus having to send a request back to the Sending bank for X-amount of fee to be paid which can result in double fees and higher fees due to the extra work involved to collect their fees, like the receiving bank sending back a request for fee payment (but a higher amount than if they had been able to charge it upon funds arrival) or the receiving bank getting confused and charging you double. Best approach when sending money to yourself where receiving a very specific amount is not really important compared to having to send a payment where an exact amount must arrive.