Which wire transfer is faster? Bangkok Bank or Kasikorn Bank?

[Sojuncoke]

I tried using wire for Kasikorn and it came within 24 hours. Does this hold true for Bangkok Bank? I only see ACH transfer information on their website (which tales 3 days).

 

US to Thailand

[observer90210]

Depends if your US bank has partnership with BB in Thailand that can make things faster (or slower)..

 

depends also if the account is in Bangkok or a branch in another city, as all the arriving funds to BB transit thru BKK, no matter where you have the account...

 

BB took a week from Europe, despite posting a partnership with a local european bank, but I did not use the express method option, used instead a normal transfer procedure..

[Sojuncoke]

Does Bangkok bank even accept wires? I dont see it anywhere on their website, It only shows ACH transfer information. Does that mean it will just use the ACH method of 2-3 days?

[ubonjoe]

Transfers visa ACH in the states goes through Bangkok Bank's branch in New York. They are normally credited in your account in less than 24 hours after received in New York. Not sure where you got the 3 days from unless that is how long it takes your bank to process a ACH transfer.

You can also do transfers to them via swift using their swift code BKKBTHBK.

This page on their website mentions both options.

 http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/Pages/TransferringintoThailand.aspx

 

[allane]

All major banks in Thailand send/receive SWIFT transfers. In this group I include Bangkok Bank, Krungthai, Siam Commercial, Bank of Ayutthaya (Krungsri), Kasikorn and Thai Military Bank.  Typical processing time is 2 - 3 business days. You need to consider time zone differences and the possibility of a holiday on either or both ends.  A transfer that is received at 7:00 p.m. local time, may not be received in an official sense until the next business day.

I have not used all banks, but for the ones I have; when you are awaiting an incoming transfer look for this (only on an ATM of the receiving bank):

  Ledger Balance:    B xxx,xxx

 Available Balance: B xxx,xxx (a lesser figure)

The difference between the two is the amount of your transfer, which has now been received in Bangkok. It will be available in your account at 1:00 p.m. on the next business day.

[ubonjoe]

Just now, allane said:

Typical processing time is 2 - 3 business days.

I have received swift transfers from Bangkok bank and SCB within 24 hours after they were sent from the states. The cutoff time to submit the transfer at a bank in the states is typically 3 pm after that it is processed the next day.

[lopburi3]

The normal SWIFT transfer should be about the same to any Thai Bank (some difference as they may not use the same corespondent bank in USA) and these will normally be received within a day.  As said even the ACH low cost system often is only 24 hours if done during the week.

[InMyShadow]

When I used thanachart it was 3 days
Switched to bangkok bank and it was 1day

[Peterw42]

There are lots of variables, I dont think you can make a blanket statement that one is faster than the other. I know if I happen to do a swift transfer (BKK Bank) from Australia to Thailand, when both banks are open for business (9am-1pm Thai time), it can come through in a couple of hours.outside of business hours and it takes 2-3 days.

[Sojuncoke]

54 minutes ago, ubonjoe said:

Transfers visa ACH in the states goes through Bangkok Bank's branch in New York. They are normally credited in your account in less than 24 hours after received in New York. Not sure where you got the 3 days from unless that is how long it takes your bank to process a ACH transfer.

You can also do transfers to them via swift using their swift code BKKBTHBK.

This page on their website mentions both options.

 http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/Pages/TransferringintoThailand.aspx

 

ah this makes sense

[Pib]

How fast the funds will arrive depends on your Sending bank, any intermediary/correspondent (i.e., middle man) bank the Sending bank may need to use, and the Receiving bank....and also the sending method (SWIFT, ACH, etc).  DO NOT think the second you hit Send on your ibanking and make that phone call to the bank that the money is on the way....it will most likely have to wait until the bank next schedule transfer for the method of transfer you are using.   And always keep the time differential in mind between Thailand and your home country....like right now there is a 13 hour time differential between Thailand time and U.S. Eastern Time.

 

Sending banks have a daily cut off time(s) as to when they will send a certain type of transfer.  It's not like they send the funds the second you initiate the transfer.   And just for example some banks like Bank of America (BoA) have 1, 2, or 3 day  wire/ACH transfer times...3 days costs the least but take the longest, 1 day cost the most and takes the least time, etc.  Basically when choosing their 3 day transfer they set on the transfer for around 2 days before actually sending the money..  Usually if it's the end of the Sending Bank's business day they will not be sending out the transfer until sometime the next business day, whether it going SWIFT, ACH, etc. So if you missed that cut off time you could add a full 24 hours before the funds.   And if missing the cut off time say on Friday which is the last business day for some banks it could be Monday before your transfer goes out.  Also, keep in mind we are talking bank "business" days as to when they transfer-out; not "calendar" days.  A 3 business day transfer say initiated on a Friday afternoon cut off time might not leave the Sending bank until the following Wednesday or Thursday like if you had chosen the BoA 3 day transfer method...and hopefully a "holiday" is not within that transfer period  because holidays, like weekends, are non-business days.   Guess what I'm saying is don't assume the transfer leaves the Sending bank the second you initiate the transfer....each bank will have its own policy/schedule as to how fast the funds depart on their trek....look closely as to their daily transfer cutoff times, different fees for faster/shorter transfers, etc.

 

If the Sending bank must use a Correspondent/intermediary bank to get the funds to your Receiving bank there can be a delay as it goes through that middle-man bank.

 

The Receiving bank, like Bangkok Bank or K-bank, only do the final processing of a received transfer on a business day, which is typically a Monday thru Friday...if lucky maybe thru Saturday for some types of transfers.  And once again, any holiday is a non-business day.  But some SWIFT transfers may be final processed/posted faster than others.  If your funds transfer arrive from the receiving bank say on a Friday evening after business hours the funds may not be posted to your account till Monday sometimes.

 

About two months ago I did a $7500 transfer from my U.S. bank to Bangkok Bank using ACH (no ACH sending fee by my Sending bank).  I initiated the transfer via my ibanking just before the bank's approx 8am Central Time (yes early in the morning hours) transfer cut- off time to get ACH transfers sent that same day...Thai time is 12 hours ahead of current U.S. Central Time.....approx 23 hours later I got the Bangkok Bank SMS that the funds had posted to my account.    Basically like initiating the transfer on a Monday morning Thailand time and on Tuesday morning Thailand time the funds have posted to my Bangkok Bank account.   

 

And I remember around 8 years ago when I used a BoA (who I'm no longer with) 3-day ACH transfer around a major U.S. holiday (I think it was the 4th of July, Independence Day) which happened to be linked to a weekend that year "plus" Thailand announced a special holiday it took 7 days for the money to arrive/post to my Bangkok Bank account.  I just flat out didn't pay attention to "holidays/weekends" on the Sending and Receiving ends combined with BoA taking around 2 to 3 days to actually begin the flow of funds.  During that week I thought my funds transfer had got Lost in Space, but no, it was just the slower sending method combined with weekends/holidays slowing everything down.  I did a few more transfers using BoA 3-day ACH transfer method and always got the funds in 3 to 4 business days.   But  as mentioned in my other example with my current U.S. bank they kick the funds out the door much faster, so I get the funds much faster--took only 23 hours to receive the funds the last time I did it a few months ago.

 

 

 

 

 

[RBOP]

 within 8 hours.

 

[phantomfiddler]

I would think that Bangkok Bank would be the fastest of them all, as it is supposed to be the clearing bank for all the others.

[lopburi3]

5 minutes ago, phantomfiddler said:

I would think that Bangkok Bank would be the fastest of them all, as it is supposed to be the clearing bank for all the others.

Nonsense - Bangkok Bank is a PLC just like most - it is not even a government bank.

[Niggi]

I am using Bangkokbank. Transfer from Switzerland are credited the same day (FCD or THB account). It depends if your bank abroad has a correspondent account with your bank here. Just try.

[ubonjoe]

32 minutes ago, phantomfiddler said:

I would think that Bangkok Bank would be the fastest of them all, as it is supposed to be the clearing bank for all the others.

You are mixing it up with the Bank of Thailand.

[KamnanT]

My record-setter is HKD from HSBC Hong Kong to Bangkok Bank, Head Office Branch: 10 minutes from pushing the fire button in HSBC online banking to receiving the SMS from Bangkok Bank.  Consistently less than 30 minutes.  Of course, HSBC has a correspondent relationship with BBL (no intermediary required), HSBC HK processes online TT requests immediately and the adjacent timezones mean both banks are open at similar times.

[Pib]

Using SWIFT, which can be pricey from the U.S....$20 to $50 is typical...and what I expect most posters above were using when stating delivery times of less than 24 hours.   SWIFT transfers do go out immediately at some banks...and others not so immediate.  But for a person using ACH which is the primary funds transfer system used in the U.S. and far cheaper than SWIFT, the transfer will usually take around 2 to 4 days...but hit all the transfer gates/cut-off times the funds can arrive in less than 24 hours.   Plus ACH can be used for delivery of U.S. govt benefit payments to Bangkok Bank...the only Thai bank with ACH receiving capability.

[bangkokairportlink]

24 hours ? from which country ?

[Searat7]

ACH transfer from my bank in USA to FX dollar account at Bangkok Bank takes 2-3 days.

[peergin]

I submitted a transfer (Swift) request to an up-country branch of the Bangkok Bank last Friday at 3.30 PM. The funds were in the recipient's bank account in Canada the very same day. That is brilliant! 

[rickudon]

From my bank in the UK, they say swift transfer up to 5 days. They also say it may take longer if you do not send the same currency as receiving bank's country (possibly bullshit, they would say that, as they do not make money on the exchange!). In my experience only 5 days if over a weekend, usually 2-3 days.

[lopburi3]

12 minutes ago, rickudon said:

From my bank in the UK, they say swift transfer up to 5 days. They also say it may take longer if you do not send the same currency as receiving bank's country (possibly bullshit, they would say that, as they do not make money on the exchange!). In my experience only 5 days if over a weekend, usually 2-3 days.

Sounds like you called that right - they want the extra money local currency conversion gets them.  

[Pib]

19 minutes ago, rickudon said:

From my bank in the UK, they say swift transfer up to 5 days. They also say it may take longer if you do not send the same currency as receiving bank's country (possibly bullshit, they would say that, as they do not make money on the exchange!). In my experience only 5 days if over a weekend, usually 2-3 days.

DO NOT allow the Sending bank to accomplish the currency exchange as you will probably get around a 3% lower rate than the TT Buying Rate provided by Thai banks for incoming international transfers.   Sending banks will use vague and misleading language in trying to get you to allow them to accomplish the exchange because their lower exchange rate is like an approx 3% "indirect fee" to you.  

Even if the sending bank offers a lower or free upfront/direct fee if you allow them to exchange DO NOT do it because when you take into account the lower exchange rate they give....an exchange rate they will probably refer to as "very competitive"....you are most likely going to end up with less money arriving your account at the Receiving bank.   

 

This banksters ripoff is similar to accepting a Dynamic Currency Conversion (DCC) at an ATM...the warm, fuzzy, and misleading language on the ATM screen tries to make you thing this is the best deal for you but it's not!

[kurtmartens]

On 6/30/2017 at 10:36 AM, Pib said:

And I remember around 8 years ago when I used a BoA (who I'm no longer with) 3-day ACH transfer around a major U.S. holiday (I think it was the 4th of July, Independence Day) which happened to be linked to a weekend that year "plus" Thailand announced a special holiday it took 7 days for the money to arrive/post to my Bangkok Bank account.  I just flat out didn't pay attention to "holidays/weekends" on the Sending and Receiving ends combined with BoA taking around 2 to 3 days to actually begin the flow of funds.  During that week I thought my funds transfer had got Lost in Space, but no, it was just the slower sending method combined with weekends/holidays slowing everything down.  I did a few more transfers using BoA 3-day ACH transfer method and always got the funds in 3 to 4 business days.   But  as mentioned in my other example with my current U.S. bank they kick the funds out the door much faster, so I get the funds much faster--took only 23 hours to receive the funds the last time I did it a few months ago.

 

 

 

 

 

Was the the "free" ACH service from BofA?  I usually pay the $25 same day fee and it gets to my Bangkok Bank here within 23 hours via their NYC branch/office.

[Pib]

3 hours ago, kurtmartens said:

Was the the "free" ACH service from BofA?  I usually pay the $25 same day fee and it gets to my Bangkok Bank here within 23 hours via their NYC branch/office.

BoA did not have an free ACH transfer service.  BoA had different fees for different methods/speeds of transfer.  I cancelled my account last year, but if I remember right their 3 business day ACH transfer fee was $3 (low but not free), their next day or maybe it was 2 days $10, and same day (if submitted by their cutoff time) for $25.  But they also had fine print on these delivery times regarding factors out of their control such as any correspondent/intermediary bank delay, receiving bank delay, holidays/weekends, etc.

[nyk]

just did a swift transfer  cba Australia to Bangkok bank took less than 10 mins to my account 

cost 22 dollars aus exchange rate 25.42