Reciving money from abroad

[Ian1980]

I just call my bank in my homecountry to transfer into my thai account some money: when should the amount will be in my bank if the money start today from abroad?

[Lamkyong]

every month i receive  funds  from the uk they   inform the  the the dept  that deals with transfers  in turn they transfer the funds to your account   my money arrives in 3 days   as long as each transfer is  actioned before 1pm in there wil lbe others who tell a different story  but this is my experience

[Ian1980]

Are the bank close for songkran? My bank is located in Pattaya Beach Road

[The Fat Controller]

If it is a SWIFT transfer and is processed correctly today the money WILL arrive in Thailand tomorrow.

 

It may go into a processing queue at your Thai bank, however there is no excuse for them not to credit your account tomorrow.

 

[ubonjoe]

41 minutes ago, Ian1980 said:

Are the bank close for songkran? My bank is located in Pattaya Beach Road

Main bank branches will be closed the 13th and 14th since those are bank holidays. Small branches will be open.

If the transfer has not been received at the bank by Wednesday it will not be credited until Monday.

[bkkcanuck8]

14 hours ago, The Fat Controller said:

If it is a SWIFT transfer and is processed correctly today the money WILL arrive in Thailand tomorrow.

 

It may go into a processing queue at your Thai bank, however there is no excuse for them not to credit your account tomorrow.

 

The transfer is there in hours of it taking place, the money into your account will typically take several days (more than just a queue, but often they will make money on the float -- i.e. interest... so it may sit in suspense for a few business days... but I would expect no more than 3 business days from time of transfer).

[bkk_mike]

It really depends which country you're sending it from.

 

When I sent money to Thailand from Japan it was always next day. When I sent it from Hong Kong, it was sometimes same day, and never later than next day.

 

When I send money from the UK, it seems to take an extra couple of days. (I assume the banks in the UK like sitting on the money for a couple of days where they get to collect the interest on the float... - on the other hand, they charge less for the transfer so it's swings and roundabouts...)

 

One thing - never let a bank in the UK do the FX conversion to Thai Baht for you - always send Sterling to Thailand...

[Ian1980]

One more question: i got some money transferred last week: but the employee in the bank put the wrong account number: my number is 275-11-2344, but he wrote 275-111-2344....Called him yesterday he said that my bank collect my money anyway....is that true? I suppose is impossible that with wrong acc.number money can be collect by the bank....this money came from my account in Russia.

[jesimps]

Using internet banking, if I order a transfer from my UK bank on Monday morning, it'll be credited to my local account late Wednesday afternoon. It never seems to change, always arrives late on day three.

 

I back up what a previous poster said, always transfer sterling not baht.

 

 

Edited April 11, 2017 by jesimps

[Suradit69]

31 minutes ago, bkkcanuck8 said:

The transfer is there in hours of it taking place, but often they will make money on the float 

Not sure what "the transfer is there" means.  SWIFT is just a messaging service and the transfer is a matter of accounting entries. Nothing is physically "there in hours."

 

Also SWIFT has been subject to numerous hacks and fraudulent transfers recently, so I expect some of the delay can be attributed to increased security concerns and manual double-checking before crediting accounts rather than any nefarious scheme to gain from the float in these days of negligible interest rates.

 

Quote

SWIFT, the global financial network that banks use to transfer billions of dollars every day, warned its customers on Monday that it was aware of "a number of recent cyber incidents" where attackers had sent fraudulent messages over its system.

 

I don't use SWIFT, but just do domestic transfers to the Bangkok Bank branch in New York using ACH (Automated Clearing House) transfers for free, which means transfers are sent in batches during the day or at the close of business in the US. That means Bangkok Bank won't receive notification of the transfer immediately and, since there's a twelve hour difference between New York and Thailand, that can delay the apparent transaction timing even more. Still, I usually am notified of the deposit being credited to my account two or three days after it was requested ... usually I get the SMS notification early in the morning here.

 

If the O/P instructed his bank to transfer a certain amount in baht rather than one of the major foreign currencies, that would also add to delays (and expense).

 

 

 

 

[alant]

Using my UK bank next day.

Using an FX transfer service about 5 days

[stephenterry]

Providing there are no bank holidays in either Thailand or the UK, in which case the transfer will be delayed, this is my experience over the last few years.

 

Using Internet banking, I make a payment from my Lloyds account to my Bangkok bank account in Chiang Mai.  It is set up as follows: transfer A.M. from Lloyds to BkB London in £, cost £20  Arrives 2 hours later. BkB transfer £ to to BkB Bangkok. BkB Bangkok convert at the TT exchange rate, and forward proceeds to my CM account the following morning with a 200 baht fee. I receive a detailed SMS from BkB CM around 09.30.

 

24 hour turnaround. Can't beat that timing.

 

 

Edited April 11, 2017 by stephenterry
addition to text.

[jacko45k]

Depends where it is coming from, which bank and which bank it is being deposited.

If I make a transfer request on Tuesday afternoon via internet I see it land in my BB account Wednesday morning

Edited April 11, 2017 by jacko45k

[Lamkyong]

2 hours ago, bkk_mike said:

It really depends which country you're sending it from.

 

When I sent money to Thailand from Japan it was always next day. When I sent it from Hong Kong, it was sometimes same day, and never later than next day.

 

When I send money from the UK, it seems to take an extra couple of days. (I assume the banks in the UK like sitting on the money for a couple of days where they get to collect the interest on the float... - on the other hand, they charge less for the transfer so it's swings and roundabouts...)

 

One thing - never let a bank in the UK do the FX conversion to Thai Baht for you - always send Sterling to Thailand...

One thing - never let a bank in the UK do the FX conversion to Thai Baht for you - always send Sterling to Thailand...   whilst see what you mean   can you tell me based on 10,000 bht what would the difference be   using the different exchange methods be  ?

my funds are from a government scourse   and have no choice about currency being exchanged  but no fee for process  so in true time i pay less   ie exchange rate less than bank  fees

Edited April 11, 2017 by Lamkyong
edit

[steve73]

I used to send sterling from my UK bank to Kasikorn.. Usually took 5-7 days (and I always seemed to get the lowest Fx rate that Kas posted during that period).

 

I now use Xendpay.com.  You agree the rate (which is always MUCH better than any of the Thai banks offer) before you confirm the transaction, and then you send them the GBP from your account.  Normally takes 3-5 working days to arrive.   Very easy to use and great customer service if you do need help.

[SiSePuede419]

18 hours ago, Ian1980 said:

Are the bank close for songkran? My bank is located in Pattaya Beach Road

Ah, that explains everything. ?

[riclag]

18 hours ago, Ian1980 said:

Are the bank close for songkran? My bank is located in Pattaya Beach Road

Yes

[Ian1980]

Just processing the payment now from Russia...any change the money can be here tomorrow?By internet banking.

 

 

[Dario]

I think the best way is to send your funds via Xendpay. I do this since months. When I consider that I get a higher currency exchange rate than Thai banks pay, the transfer is free of chargea. If you transfer before 12:00 European standard time and your receiving account in Thailand is Bangkok Bank, then your money arrives in your BBL account 2 days after you transferred at 14:02 local THai time,,provided that there are no public holidays in between. If you wish to know more,please send me a pm.

[JayBird]

If you transfer a large amount (at least 100k USD) the Thai bank may hold it until they reach you by phone to confirm exchange rate, etc.

 

It's also when you get their kindest best English speaking rep.

 

 

[abrahamzvi]

I can't speak for all banks, either in Thailand or overseas, but far as my experience with the Bangkok Bank is concerned, it very rarely takes more than 24 hours for moneys from overseas (US and EU) to be credited to my account.

[Dario]

1 hour ago, riclag said:

Yes

Banks are only closed on April 13 and 14, not over whole Songkhran. They are open again on Monday April 17.

[yardrunner]

6 hours ago, bkk_mike said:

It really depends which country you're sending it from.

 

When I sent money to Thailand from Japan it was always next day. When I sent it from Hong Kong, it was sometimes same day, and never later than next day.

 

When I send money from the UK, it seems to take an extra couple of days. (I assume the banks in the UK like sitting on the money for a couple of days where they get to collect the interest on the float... - on the other hand, they charge less for the transfer so it's swings and roundabouts...)

 

One thing - never let a bank in the UK do the FX conversion to Thai Baht for you - always send Sterling to Thailand...

or use a transfer specialist like smart currency exchange who work out slightly cheaper than using Bangkok bank

[Kabula]

I call my bank in the U.S. as soon as it opens to confirm the online, wire order I submitted with a copy of my passport and the funds are received in my Thai bank the next day between 10 am and noon.

 

I've been doing it for many years.

 

The charge is $50.  I send U.S. Dollars to Thailand and let them exchange the funds as it is cheaper.

Edited April 11, 2017 by Kabula

[hawker9000]

21 hours ago, The Fat Controller said:

If it is a SWIFT transfer and is processed correctly today the money WILL arrive in Thailand tomorrow.

 

It may go into a processing queue at your Thai bank, however there is no excuse for them not to credit your account tomorrow.

 

And that's always been my experience as well unless there were bank holidays or weekends involved.  If not for the time difference, the money would be in the thai account within hours.

[abrahamzvi]

2 hours ago, Kabula said:

I call my bank in the U.S. as soon as it opens to confirm the online, wire order I submitted with a copy of my passport and the funds are received in my Thai bank the next day between 10 am and noon.

 

I've been doing it for many years.

 

The charge is $50.  I send U.S. Dollars to Thailand and let them exchange the funds as it is cheaper.

The charge of $50 is excessive. I pay in he US $25 irrespective of the amount involved.

[kkerry]

Transferred using SWIFT from my Australia account to SCB today at 10.55 AM Thai time. Walked to the ATM (5 mins) and money was there in my account.

[derekwyoung]

I often transfer money from uk to thailand. it always arives the next day at my thai bank but not yet in my account the thai bank takes upto 48 hours to process it and if the end of that 48 hours ends on a bank holiday or weekend then that is added on to the time they hang on to my money. lernt to check for thai bank holidays befor i send money. derek

[Kabula]

18 hours ago, abrahamzvi said:

The charge of $50 is excessive. I pay in he US $25 irrespective of the amount involved.

What is the name of the bank?

[derekwyoung]

sorry never quoted charge amount for transfer, but if your interested it is £1 regardles of the amount by azimo, and my thai bank is krungsri