Transfer of monies from overseas to Thailand

[Yorky]

Sorry, the title and most posts seemed not related to pensions.
Where would you like it, Sir?

There isn't anywhere to put it unless in the General Chit Chat. Perhaps a new forum for finance and financial matters?

 

[Moderator3]

Good idea! & Done

 

[alanthebuilder]

Moderators on the ball doing all they can to please members

Any members with other positive suggestions please let us know !

 

[Yorky]

Interesting letter I received today.



I am told that these people are university graduates.

 

[Yorky]

Does anyone know it there's a "Surin, Thailand" somewhere north of Newcastle?

 

[Yorky]

Moderators on the ball doing all they can to please members

Why can I never find my bucket when I need it?

 

[CO-CO]

Just after 7.00 am this morning I instructed an overseas payment of £1,300 online with HSBC.

At 11.35 am I received a message from Kasikorn bank to say that the funds had been credited to my account.

Now THAT is quick.

 

[Yorky]

Just after 7.00 am this morning I instructed an overseas payment of £1,300 online with HSBC.

At 11.35 am I received a message from Kasikorn bank to say that the funds had been credited to my account.

Now THAT is quick.

Maybe HSBC employees graduate from a different university?

Y (doesn't have a degree, never even paid for one!)

 

[CO-CO]

Maybe HSBC employees graduate from a different university?

Y (doesn't have a degree, never even paid for one!)

Maybe HSBC just have better global systems.

(Y - nobody actually touches my payment....)

 

[Prakhonchai Nick]

Does anyone know it there's a "Surin, Thailand" somewhere north of Newcastle?

There probably is after 10 pints of Newcastle Brown! Crazy1

 

[Yorky]

If anyone is even remotely interested, the saga goes on.......

"Chelsea,In accordance with the bank's instructions of the 18th July 2014, I despatched a further application for ibanking plus on Monday 21st July. Whilst it is now irrelevant to my position, I thought you may be interested in tracking the document yourself in an effort to possibly discover why your mail receipt procedures failed the first time.The Track and Trace site is: http://track.thailandpost.com/trackinternet/Default.aspxAnd the code is: RR059299222THRegards"

and on
"Chelsea,Further to the email below, and in order to put my mind at rest that there are not two documents at large containing my full account details, I would be grateful if you could confirm receipt of the second application (said to have been delivered on July 28th).Also, I received the attached letter yesterday which may have something to do with my applications although it is not clear. If you could also clarify this it may be of benefit.Regards"

And on

"Hi [Yorky] ​

​

I have tracked the application and can see that it was signed for on 28th of July. I have checked with the ibanking team and they have not yet received the application, however if it was sent to the branch they would forward it to the ibanking team which usually takes 2-3 days.
​

That is strange, considering that the bank has previously stated that "All items for the ibanking team are signed for by the team themselves".

Can you please confirm the address the application was sent to in order for me to track it further.​

​

The address to which the application was sent is precisely that which is referenced on the application itself, i.e.
RBS International ibanking
PO Box 64
St. Helier
Jersey
Channel Islands
BRITISH ISLES
JE4 8PJ


And it was typed on the envelope.

I just have a few questions in order to help me to assist me with my investigation. ​

1. You mentioned in your complaint that you spoke to the online webchat who advised that all banks have sort codes. Do you know the date in which you spoke to them in order for me to request a copy of the transcript?​

It was Saturday 21st June 2014 at approximately 06:15 Thai time (GMT + 7 hours). I recorded part of the transcript myself as I wanted a record of the charges for money transfers. I've attached that short transcript and you will note that I was advised charges for transfer to " [FONT=&quot]Rest of the World (any currency)"[/FONT]

​

2. Can you confirm the telephone number that you called from when calling us in order for me to locate the calls. ​

I've attached a section of my telephone bill for June 2014.

​

I have ordered you a new activation code however I am still waiting for it to be returned to me in order to courier it out to you. ​

​

I have ordered a new smart card and reader however there has currently been a delay in receiving the cards. We are hoping to receive them this week and rest assured once we do I have arranged for yours to be sent as a priority. ​

It's not getting any better, is it?

​

As soon as both of the above have been sent by courier I willl forward you the tracking reference. ​

​

I do apologise that this is taking longer than expected to resolve. ​

​

Kind Regards"

​

And on...

"Hi [Yorky]
​

​

Thank you for providing the information.​

​

I am currently in the process of investigating the webchat and telephone calls you had with us. ​

​

I have now located two completed applications from you. The first was received on 03 July and the second received on 29 July. ​

​

The second application was not processed as you were already enrolled on 22 July as part of this complaint. I am now looking in to why your application which was received on 03 July was not processed. I am also currently reviewing the email chains between yourself and the ibanking team during the period of June to July and it does seem you were provided incorrect information in regards to your application not being received. ​

​

I do apologise that it is taking longer than expected to investigate. ​

​

Kind Regards"

And RBS made 1,600,000,000 pounds Sterling in the first quarter of this year. Think what they may have made without all these wankers working for them!

Y (still with the patience of Job but it is waning).
​

 

[Yorky]

I see that I did not finalise this saga.

Eventually, after 60 days of to-ing and fro-ing, it was sorted and I received all the required equipment (two sets), codes and instructions. I also received an written apology and an offer of Sterling 330.00 as compensation (which I accepted).

Anyway, yesterday as the Sterling returned to Bht 50.00, I decided to attempt a transfer. It was not what I would call user friendly but I muddled through eventually and instigated the transfer.

I was certainly impressed after that. The transaction was instigated at around 11:30 TT and the amount was credited to my Kasikorn Bank in Surin at 17:15 (TT). The cost at the RBSI end was Sterling 15.00. I do not know the cost at the Thai end but the amount deposited related to Bht 49.69 per Sterling.

 

[CO-CO]

I see that I did not finalise this saga.

Eventually, after 60 days of to-ing and fro-ing, it was sorted and I received all the required equipment (two sets), codes and instructions. I also received an written apology and an offer of Sterling 330.00 as compensation (which I accepted).

Anyway, yesterday as the Sterling returned to Bht 50.00, I decided to attempt a transfer. It was not what I would call user friendly but I muddled through eventually and instigated the transfer.

I was certainly impressed after that. The transaction was instigated at around 11:30 TT and the amount was credited to my Kasikorn Bank in Surin at 17:15 (TT). The cost at the RBSI end was Sterling 15.00. I do not know the cost at the Thai end but the amount deposited related to Bht 49.69 per Sterling.

It sounds like you must have transferred around £30,000.

KBank charges are 0.25% (min 200, max 500) + 0.1% (no limit) + 20 Baht.

The rate at 17:15 was 49.7525 .... http://www.kasikornbank.com/EN/Rate...reignExchangeHistory.aspx?d=17&m=2&y=2015&r=0

£30,000 = 1,492,575 Bt.

Charges 500 + 1,493 + 20 = 2,013 Bt.

Net amount 1,490,562 Bt = 49.69

It is, of course, possible that the amount transferred could have been lower than £30,000 if Bangkok called to confirm receipt of the funds (as they often do with larger amounts) and offered a slightly better rate.

 

[Yorky]

Jasus, I'm an OAP!

The amount was Sterling 5,000.00.

[Edit: I've just rechecked with the bank - 49.59 not 49.69 - dyslexia lures ko]

 

[CO-CO]

Jasus, I'm an OAP!

The amount was Sterling 5,000.00.

(Was just checking you out for money-laundering!


If the transfer was yesterday the computation should be:-

£5,000 @ 49.7525 = 248,762

0.25% = 500 Bt + 20 Bt + 249 Bt = 769 Bt charges

Net amount credited 247,993 Bt = net rate 49.60


If you actually received 49.69 net = 248,450

Add charges 769 Bt = 249,219 Baht

Divide by £5,000 and the 'gross' rate was 49.84 - significantly higher than any rate quoted by KBank yesterday.

Well done Yorky, you are a winner ..... by 457 Baht.

 

[Yorky]

Well done Yorky, you are a winner ..... by 457 Baht.

Bloody 'ell! I'm glad I rechecked! I could have just pished Bht 457.00 that I didn't have up against the wall!

Oh well. If it wasn't for bad luck etc.....

Y Chokdee5

 

[Yorky]

Just for information and comparison, the RBSI exchange rate this morning was 45.8433.

 

[CO-CO]

Just for information and comparison, the RBSI exchange rate this morning was 45.8433.

Are you sure?

Robbing bastards your bank, HSBC gave me this:-


GBP 5000.00 = THB 248020.90 (GBP 1.00 = THB 49.60418)


.... a difference of almost 19,000 Baht!

Never send Baht from RBS Yorky!

 

[Yorky]

Never send Baht from RBS Yorky!

Never have, never would. Up here for thinking, down here for dancing.

Thanks for the Kasikorn info on charges. I've known roughly what they charge before but your calculations put it into perspective.

Cheers

Y

 

[Yorky]

Maybe you know or maybe you don't or maybe you don't care, but Royal Bank of Scotland International have been in the process of transferring personal bank accounts to Natwest International for some months (mine is scheduled for mid July). During this period, RBSI have been extolling the benefits that this transfer will bestow on me.

After receiving a letter from Natwest this morning (dated 28 May), I used their online chat facility to confirm that the transfer charges for Sterling to Thailand would be the same as RBSI i.e Sterling 15.00 for <10,000.00 withing c. 6 hours.

I received the following info:

Urgent Transfer - 1-2 business days - Fee £30.00
Standard transfer - 2-4 business days - Fee £22.00Relay - 3-5 business days - Fee £10.00


Some chuffin' benefit that is!


I shall be contacting RBSI tomorrow, but considering my miniscule deposits, I can imagine that they are unlikely to give a shit.


[Natwest - Helpful banking]