Swift transfer from UK friday

[newbie888]

Early afternoon Friday from UK I made a swift transfer to bangkok bank. Will it clear Monday? First time using method so unclear. Thanks

[allane]

No particular knowledge of the UK, but from Canada, I need to allow 3 business days.

   - Day1 - transfer is sent to receiving bank

   - Day 2 - a verification request is sent to the sending bank

   - Day 3 - confirmation is sent from sending bank, receiving bank credits funds to recipient's account.

You need to make allowance for a holiday on either end.  You need to consider time zones; for example, if a transfer arrives at 11:00 p.m., nothing is going to happen on the receiving end until the next morning.  From my observation, there seem to be "gates" or thresholds which only open once every 24 hours (longer if over a weekend/holiday). Each step requires approval of someone at a senior level, not by some junior clerk working the midnight shift.  It doesn't matter what time you sent the transfer.  The system is designed to ensure someone can't send funds to the other side of the world in a few minutes.

In Thailand, incoming transfers are credited to the recipient's account at 1:00 p.m. on Day 3. Anytime after 3:30 p.m. on Day 2, you can check the progress of your transfer, though only on an ATM of your designated receiving bank. When you click "Balance Enquiry" look for this:    Ledger Balance:  xxx,xxx

        Available Balance:   xxx,xxx (a lesser figure)

The difference between the two is the amount of your transfer, assuming you only have one in the system at any one time.

 

[Upnotover]

Whilst it can make a difference which banks are at either end any Friday transfer I make from Lloyds to Kasikorn will arrive on Monday morning, any time between 08:30 and midday.

[chiang mai]

Probably not! Early afternoon Friday was at best, after the close of banking business in Thailand, more likely Tuesday or, depending on your Thai bank, after that.

[newbie888]

Does that mean if it left UK before UK close of business, Monday they process and Tuesday I will have access to funds?

[MAZ3]

It can arrive in 2/3 working days from the UK, but if its the first transfer from/to your accounts it can take longer(probably due to extra security checks etc).

[theoldgit]

@newbie888 So when did it arrive?