32 replies to this topic
Posted 2007-05-14 22:42:31
I've been recommended to use direct bank transfer by a friend, he has told me to use my swift code to transfer funds from my UK Halifax account to my partners Kasikorn account but I can't find the swift code, is there such a thing with this bank?
Posted 2007-05-14 22:56:49
Yes, it's KASITHBK, but you should be very careful to get the exact transfer instructions from Kasikorn, including their "correspondent bank" details for sending pounds. Otherwise your bank in the UK will convert your pouunds to baht at the offshore rate and send baht to Kasikorn. You should tell Kasikorn that you want to send pounds to them.
Posted 2007-05-14 23:03:27
Good advice sonicdragon, thanks.
All I need to do now is make my partner understand these simple instructions
Thanks again, Nikkijah
Posted 2007-05-14 23:23:48
I've just spoken with my bank and they say I will have to pay a minimum of £17 and the transfer can only be done using some kind of telegram(??)
Western Union it is then(again)
Posted 2007-05-14 23:39:34
I bank with the Halifax and used to use them to send money over. All I needed was bank name, bank address, her name, her account.
But now I just go to the post office and use "MoneyGram" its a much easier method(I find) to send money over. Its pretty instant and there are loads of places where she can collect from. Contact the postoffice or web site for more details. It also worked out cheaper than Halifax.
Posted 2007-05-15 01:00:11
How much did you pay with the Halifax chang? I was quoted 17 quid! I jsut checked out the moneygram website and the fees are as scandalous as Western Unions! 18 quid to send 200! Western Union is only 14 quid for the same amount, I wouldn't recommend moneygram to anybody...
Posted 2007-05-15 08:32:10
SWIFT is not really set up to move small amounts of money
as their charges are fixed. It's a good system if you want to
transfer 20 k pounds since the charges are only 0.1%, but
by sending only 200 you get charged about 10%.
There is no way to cheaply send that money, unfortunately.
I you think you may need to do these transfers on an irregular basis,
then next time you are in Thailand, open a savings account with online banking facilities.
That way you can leave some funds in the account and make transfers (from UK) to
another Thai account for a fee of only 30 baht per transfer.
Not all Thai banks have good online banking, I suggest Kasikorn Bank, forget
Siam Commercial for online banking.
Posted 2007-05-15 18:02:55
i have started using moneybookers.com. the only problem with them is that it takes a few days to upload money to your online account and then a couple of days to withdraw it into your thai bank account. However the fees seem to be very low and if you plan in advance the time it takes is no problem
Posted 2007-05-15 18:04:31
Cheers Naka, I have a savings account with online banking with Kasikorn, so how do I do a transfer for only B30? Do you mean by transferring larger amounts?
Posted 2007-05-16 00:34:55
When you login to kbank cyberbanking (or whatever they call it) it should be pretty obviuos from there how to do a transfer - if your partner has an accoutn with kbank in the same district there will then be no charge.
Another, much cheaper alternative is to open a nationwide flex account and send your partner the atm card - then when you want to give money you just trasnfer however much to your nationwide account and tell them to go to the atm and how much to withdraw. Then when they have withdrawn move the money out. Oh make sure you get an acount that doesnt have an overdraft facility, then when they try to take out 50000 baht after yo said 5000, they'll get told that the transaction cant be done, not you being told your liable to some hideous, illegal unauthorised overdraft fee !
PS if you have kbank savings you can also get a webcard (online credit card) and can then get a thai paypal account witjh full priviledges and can transfer money using paypal - but this will be at the offshore rate.
All the above has been discussed a lot before on TV...
Posted 2007-05-16 01:17:35
Yes it has all been discussed before Khun Bob, but I think you misunderstood/misread my questions...
I have a Halifax account in the UK, I want to transfer money from that into my partners Kasikorn bank account, which I also mentioned is a savings account.
The account also has K-cyber banking but that also doesn't help me.
Thanks for lesson on how to control my partner like a baby though
Bank accounts are very difficult to open in the UK now unless you deposit a large amount into it when opening it, this subject has been widely covered somewhere else also...
Edited by Nikkijah, 2007-05-16 01:18:29.
Posted 2007-05-16 01:29:53
Bob's just given you the best advice you'll get on here. Go and open a Nationwide Flexaccount. They're no more difficult to open than any other current account. The ATM card that you'll get with the account will allow you (or your partner) to withdraw money from any ATM in Thailand with no fees or costs at all.
Posted 2007-05-16 01:46:50
Thanks but I have asked in all the banks in my town if I can open an account just last month and they told me that unless I am on the electoral register or have a large sum of money to deposit I am UNABLE to open an account.
EDIT/ I also need to show my employers name and address and my income details and I am unable to produce these
Good advice if it applies to people who either already have an existing Nationwide account or are able to open one.
I was asking questions on how to transfer from my HALIFAX account to my partners Kasikorn bank but it seems that the charges are too high.
Thanks for your replies.
Edited by Nikkijah, 2007-05-16 01:48:30.
Posted 2007-05-17 09:57:15
Perhaps my advice was not clear ... and it won't help you with your current situation
as I assume you have few funds in you Kasikorn account.
My suggestion was actually that on your next trip to Thailand you should
deposit some funds in your account (in cash even). Then in future when
you are back in UK you can go online with Kasikorn and transfer
funds into your partners account for a nominal fee.
Posted 2007-05-17 19:41:20
When i do a swift money transfer to siam commercial bank i never need the swift code.Just exact bank adress in thailand,full account holders name and account number,send the money in sterling and no problem.Im with nationwide and as already said its 20 pounds however much you send,why cant you do the same with halifax ?
Quick question,i know im not charged to use my nationwide flex account card to withdraw in thailand,but im still charged by the thai bank atm everytime i use it(20 baht) is this correct ?
Posted 2007-05-19 08:46:28
If you ask Nationwide for a basic bank account they will provide.... And along with that will come a cirrus/maestro atm card - there you have your means to cheap transfers
But if you like to give the halifax your money for their overpriced transfers - so much the better - I'm a share holder you see !
Why not get on the electoral register ? I got my wife on there and its helped her alot (dont think she should be on there - but hey if politicians in the UK can vote to be excluded from the freedom of information act, maybe I can apply the same rules too !)
Why not get an accout with citibank or hsbc and then you can benefiot from lower proced transfer within the organisation. Why not get your thai friend to get an account with bkk bank in thailand then you can get £15 transfers with bkk bank london. Why not get a thai pay pal account, so you can transfer small amounts without the large transefr fee.
However, if you totally trust your thai friend, why not send them a nationwide or a post office credit card and let them use up your credit limit and more... You may find penaltycharges.org.uk useful after this...
There are ways around credit scoring - best thing is to just keep on trying, dress well and be polite - bit like getting an account in Thailand actually ! But in the UK you can still open accounts with £0.00, and they remain open for a long time too... In fact it is also possible to do the same in Singapore - with a world wide bank too !
But I have to say that Nationwide is becoming more like Naziwide - I had a significant amount of money with them but would they give me another Flex account - no (sure I have quite a few already) - just need to get a good story and the right person and it will come - trouble is the people I need to persuade and not easy to get at - but it can be done - will work on this one again as I wouldnt mind a few more accounts - till they start charging that is ! But they are douing well - good profits reported this year - buit now the Natiowide is no longer a true building society - they couldnt give a sh1t about their members - for real Bulding Society spirit look at the small fish or britannia (share profits with the members...)
Just take what you can get from Naziwide and dont help them make profits. Their Customer Service stinks and in London their branch based staff typicaly hate their jobs. Still it is nice to make them lick their lips over getting commission for an insurance quote and then drop when they think your in the bag - I'm temped to say what the h3ll go for it if you give me 50% of the kick back - maybe i just will...
Edited by Khun Bob, 2007-05-19 09:02:11.
Posted 2007-05-19 19:24:43
The Post Office offer a facility called Cash Plus which is basically a prepaid visa card that can be used anywhere in the world just like a credit card. why don't you apply for one of these cards, deposit the funds you want and then send the card by registered post/dhl etc ? Your loved one will be able to access the funds here through most ATMS with the pin number that you would communicate to her once the card has been received!?
Posted 2007-05-21 15:47:16
Hi Naka - what's wrong with SCB online banking?
I have a savings account with them and as I'm planning to move to Thailand this year, its a service I'm going to need.
Posted 2007-05-31 19:11:24
Did you make this transfer Halifax-Kasikorn.
Could you give feedback on what you had to do in the end?
Was it easy and the charges as expected ? You got the full onshore rate etc... ?
It would be easier if I did this in future, I have just started doing HSBC UK to Kasikorn, but if I could do Halifax direct without too much hassle I could get rid of the HSBC UK account completely.
Thanks for any feedback
Posted 2007-06-04 04:00:41
Simple answer - it is cr4p ! If you want something like what you may be use to in the UK ten Kasikorn is the only one I am aware of - and I have used a few accounts... Search this forum and you will see what peole have to say about thai banks online offerings.
But if you do go with SCB, dont put too much money in there and be carful who you set transfers up to - oh you gotta visit your account opening branck (probably) to do that. And dont forget to test their customer service, by phone in english for some non trivial transactions or problems you may have - especially when you need it sorted very quickly - hope you get the idea - still if not please do report your experiences
Posted 2007-06-06 20:23:27
You can open an account on line as a Remitter
You can sign up receivers who will be sent an iKobo VISA Card.
You can then send recipients Funds easily - using your Computer
iKobo will charge your Credit / Debit Card
I have used them for years and can recommend their service
Edited by WilliamIV, 2007-06-06 20:25:57.
Posted 2007-06-07 08:30:53
I am going to make a sterling transfer between HSBC UK and Kasikorn.
After a recent bad experience with Offshore rates (not to Kasikorn bank), I am making sure I understand the system completely.
I have therefore phoned both HSBC and spoke to Kasikorn and they say I shouldn't need the 'correspondent bank' details. I am very wary of anything they say though.
Could you confirm this is required - in the meantime I may make a small transfer and see what happens.
Thanks for any feed back.
Posted 2007-06-07 13:36:30
Of course you do not NEED the Correspondent Bank details.
HSBC are perfectly capable of sending a transfer to Kasikorn
and making a lot of money on the deal by sending Sterling or Thai Baht to
their office or correspondent in Bangkok.
However if you wish to keep HSBC from making as much as they can on the Transaction
You must obtain from Kasikorn the details of their STERLING account and instruct HSBC to send STERLING to it.
Kasikorn and any Bank will have a Sterling account with a Correspondent Bank in London
(and a Dollar Account in New York and a Euro Account in one of the European Capitals.)
Your Instruction to HSBC should therefore read something like...
Pay GBP 500 to FOR EXAMPLE "Barclays Bank, Piccadilly Circus, London"
(replace with Kasikorn's Correspondent Bank name & address)
A/c No. xxxxxxx - Kaskorn Bank International Division (OR Similar - Kasikorns a/c Number and the name of their account)
a/c Nonthaburi Branch a/c No zzzzzz Khun aaaaa bbbbb (the Branch where your Partners has their account, your Partners a/c number and their name)
Similarly Dollars would be directed to Banks in New York and Euros to a Bank in a European Capital.
Edited by WilliamIV, 2007-06-07 14:04:21.
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