K-Bank Delaying Incoming Wires

[peergin]

only once i had a problem with SCB.i moniter every exchange rate by the bank when doeing a express trans.from the uk.

trans.done 12.30pm.thai time and its always in bkk.main by 1.30pm. but on 28th.april 2015 it was held for 24hrs. because there was going to be drop in the thai.base rate.it cost me over 5,000bht.

(1) You are lucky. I once lost about B 200,000 because of incompetence at the Kasikornbank. And the bank refused any responsibility........

(2) I have also just had an inward remittance refused by the same bank without so much as an e-mail or a phone call. The funds went back to the originating bank. Afterwards, upon enquiring, they offered a silly excuse. The originating bank charged more than US$ 100 for this failed transfer.

This Thai bank changed its name from Thai Farmers Bank to Kasikornbank. Farmers never need sophisticated banking facilities so the low level of competence was not a problem. However, nothing has improved after the name change.

Edited May 29, 2016 by peergin

[lkv]

This Thai bank changed its name from Thai Farmers Bank to Kasikornbank. Farmers never need sophisticated banking facilities so the low level of competence was not a problem. However, nothing has improved after the name change.

Lol I wasn't aware. This must be the reason they opened accounts easily for foreigners. Edited May 29, 2016 by lkv

[domdom]

Hello

I was charged also by my bank 90 euros for the transfer they sent back..

To answer some people saying it is bank of origin mistake I want to point out, I make my transfers through internet and did it at 9 am local time to be sure it would be proceeded the same morning (after 12 transfers are postponed to next day)

I did a transfer the week before to the US, same way and approximately same amount.. It was in the US 24 H later..

So, definitely KSK fault..

I remind, my transfers went on May 3rd, 2 reached my account here on 11th and 12th.. (so 8 and 9 days delay) and the third one, without any mail or phone call neither explanation was sent back on 16 th.. so 13 days after it was sent by my bank originally..

Lack or profesionalism and nobody cares in this bank actually, when you go to complain, no explanation, no apology

Have a good week

[stevenl]

I send money to my k-bank account on average twice a month. Never any issues, mostly it arrives the same day ( transfer appx. 10.00 hours, arrive appx. 16.00 hours).

[domdom]

It might depend on the amount sent.. My transfers were 20.00 euros and above...

Have a nice day

[Jip99]

only once i had a problem with SCB.i moniter every exchange rate by the bank when doeing a express trans.from the uk.

trans.done 12.30pm.thai time and its always in bkk.main by 1.30pm. but on 28th.april 2015 it was held for 24hrs. because there was going to be drop in the thai.base rate.it cost me over 5,000bht.

(1) You are lucky. I once lost about B 200,000 because of incompetence at the Kasikornbank. And the bank refused any responsibility........

(2) I have also just had an inward remittance refused by the same bank without so much as an e-mail or a phone call. The funds went back to the originating bank. Afterwards, upon enquiring, they offered a silly excuse. The originating bank charged more than US$ 100 for this failed transfer.

This Thai bank changed its name from Thai Farmers Bank to Kasikornbank. Farmers never need sophisticated banking facilities so the low level of competence was not a problem. However, nothing has improved after the name change.

Out of interest, what exactly was the "silly excuse?".

[peergin]

only once i had a problem with SCB.i moniter every exchange rate by the bank when doeing a express trans.from the uk.

trans.done 12.30pm.thai time and its always in bkk.main by 1.30pm. but on 28th.april 2015 it was held for 24hrs. because there was going to be drop in the thai.base rate.it cost me over 5,000bht.

(1) You are lucky. I once lost about B 200,000 because of incompetence at the Kasikornbank. And the bank refused any responsibility........

(2) I have also just had an inward remittance refused by the same bank without so much as an e-mail or a phone call. The funds went back to the originating bank. Afterwards, upon enquiring, they offered a silly excuse. The originating bank charged more than US$ 100 for this failed transfer.

This Thai bank changed its name from Thai Farmers Bank to Kasikornbank. Farmers never need sophisticated banking facilities so the low level of competence was not a problem. However, nothing has improved after the name change.

Out of interest, what exactly was the "silly excuse?".

There are 2 account holders but the inward remittance listed only one as the beneficiary. So did the previous 200+ inward remittances all of which were 100% identical, i.e. only 1 account holder (beneficiary). Never any problem.

Now they suddenly said that both account holders must be listed in remittances because it is an "and" account. (The bank does not have "and/or" accounts.) However, surprisingly, withdrawing cash money can be done by just ONE account holder...... I do not understand how that is possible. I also do not understand why the previous 200+ inward remittances did not require 2 account holders to be listed as the beneficiaries.

[Expattaff1308]

You may find your bank transfers to an intermediate bank in Thailand and they then forward it to K bank.

For example Xendpay does this transferring first to Bkk bank then they send to kasikorn, Nationwide use HSBC Thailand before they send onto K Bank and so on.

[Oxx]

This is the 4th time they've held my transfer over the weekend to enjoy the exchange rate in their favor.

How does that work? If they were deliberately delaying the exchange the rate might equally well move against them. It just makes no sense.

[sstuff3]

This is the 4th time they've held my transfer over the weekend to enjoy the exchange rate in their favor.

How does that work? If they were deliberately delaying the exchange the rate might equally well move against them. It just makes no sense.

Have a look at the historical exchange rates. The rates almost always favor the local banks on Monday and Tuesday, so it is in their interest to delay the incoming wires until then.

[Oxx]

Have a look at the historical exchange rates. The rates almost always favor the local banks on Monday and Tuesday, so it is in their interest to delay the incoming wires until then.

I've now just done exactly that. Since you haven't mentioned which currency you're transferring, I've used USD and looked at daily exchange rates for the last 12 months, USD/THB. I've then separately averaged the exchange rates by day of the week. The average rate, according to day of the week, varied from 35.360 to 35.387 - a difference of a mere 0.08%. In other words, your belief that banks here are trying to screw you by delaying exchange is clearly untenable. And no, the rates don't "almost always favour the local banks on Monday and Tuesday". That's pure nonsense.

[orientalist]

You may find your bank transfers to an intermediate bank in Thailand and they then forward it to K bank.

For example Xendpay does this transferring first to Bkk bank then they send to kasikorn, Nationwide use HSBC Thailand before they send onto K Bank and so on.

I've had no problems with K-Bank so far but I am thinking of using Xendpay. If I have the money sent to my Bangkok Bank account I wonder if it will show up as an international transfer? Presumably it would be quicker than using the K-bank account.

[Mudcrab]

only once i had a problem with SCB.i moniter every exchange rate by the bank when doeing a express trans.from the uk.

trans.done 12.30pm.thai time and its always in bkk.main by 1.30pm. but on 28th.april 2015 it was held for 24hrs. because there was going to be drop in the thai.base rate.it cost me over 5,000bht.

(1) You are lucky. I once lost about B 200,000 because of incompetence at the Kasikornbank. And the bank refused any responsibility........

(2) I have also just had an inward remittance refused by the same bank without so much as an e-mail or a phone call. The funds went back to the originating bank. Afterwards, upon enquiring, they offered a silly excuse. The originating bank charged more than US$ 100 for this failed transfer.

This Thai bank changed its name from Thai Farmers Bank to Kasikornbank. Farmers never need sophisticated banking facilities so the low level of competence was not a problem. However, nothing has improved after the name change.

My employer is a 'farmer' as are his other 83,000 employees.....he seems to do ok with over 34 billion USD turnover p.a.

I guess he uses a simple bank book for his day to day business....nothing sophisticated. Probably keeps one on each of his 5 private jets.

Edited June 4, 2016 by Mudcrab

[Expattaff1308]

You may find your bank transfers to an intermediate bank in Thailand and they then forward it to K bank.

For example Xendpay does this transferring first to Bkk bank then they send to kasikorn, Nationwide use HSBC Thailand before they send onto K Bank and so on.

I've had no problems with K-Bank so far but I am thinking of using Xendpay. If I have the money sent to my Bangkok Bank account I wonder if it will show up as an international transfer? Presumably it would be quicker than using the K-bank account.

I've messaged you, cant help on the Int. transfer thing but what I do is print off and keep all the transfers and Imm seem content with that.

Edited June 4, 2016 by Expattaff1308