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[Robbie Dye]

Not sure this is the right place for this but....

Whilst browsing my HSBC Bank accounts in the UK online I was astounded to see an option to send money overseas. I clciked on it and saw that if you have an HSBC account online you can now send money to over 200 countries, including Thailand, albeit between 0800 and 1400 UK time only I believe. I created a beneficiary being my SCB account over here and lo and behold it works. It is GBP 15 a pop but that is cheaper than you get charged for faxing or mailing an instruction. Fantatsic is what i say, I was not aware of any UK bank offering this facility, Barclays will not even take a fax ! So there you are, give it a go

[PattayaParent]

I've always sent money overseas from my HSBC account any time of the day I want.

It costs a lot more than 15 quids though.

[AFKAFSinLOS]

Edit...Moved as didn't want to hijack this thread...

Smile, The Internet Bank...

Edited by AFKAFSinLOS, 2008-08-06 17:35:21.

[chiang mai]

Robbie Dye, on 2008-08-06 16:41:36, said:

Not sure this is the right place for this but....

Whilst browsing my HSBC Bank accounts in the UK online I was astounded to see an option to send money overseas. I clciked on it and saw that if you have an HSBC account online you can now send money to over 200 countries, including Thailand, albeit between 0800 and 1400 UK time only I believe. I created a beneficiary being my SCB account over here and lo and behold it works. It is GBP 15 a pop but that is cheaper than you get charged for faxing or mailing an instruction. Fantatsic is what i say, I was not aware of any UK bank offering this facility, Barclays will not even take a fax ! So there you are, give it a go

That facility has been in place for many years, at least ten although you must first register the "Transfer To" bank accounts and specify a daily transfer limit per account. Yes it does work well, very efficient.

[Daffy D]

Yes it does work but I found for the small amounts I need to transfer using the ATM is cheaper.

[Bangyai]

I reckon The Nationwide Building Society have a better offer. You open an email account with them (e account) plus an ordinary Flex account. You keep all your money in the e account at high interest ( currently over 6% ) then if you need money here , you go online and tranfer the amount into the flex account then withdraw it with your Flex ATM card at any ATM machine in Thailand showing the VISA sign. There is no charge for this service and you don't get cheated with a poor rate.

[Daffy D]

Have to agree Nationwide is better, less bank charges, but you have to be a UK resident. So unless you have a UK address you cannot open an account with them.

[pkrv]

HSBC’s single branch in Bangkok has some VERY (I believe Thai and the UK emphasise language in some instances by repeating the same word - VERY, VERY) creative charges that cover two pages of A4 paper. If you have some money in the account one month you may end up owning them money the next.

HSBC are quite frankly only there to attempt to move into the market - go figure - one branch that has to hold its own - what 'service' will you get?

[chiang mai]

pkrv, on 2008-08-06 21:02:11, said:

HSBC’s single branch in Bangkok has some VERY (I believe Thai and the UK emphasise language in some instances by repeating the same word - VERY, VERY) creative charges that cover two pages of A4 paper. If you have some money in the account one month you may end up owning them money the next.

HSBC are quite frankly only there to attempt to move into the market - go figure - one branch that has to hold its own - what 'service' will you get?

I've had a Premier account with HSBC Bangkok for several years and find their service to be very responsive and routine charges are waived more often than not. I believe you will also find that foreign banks are currently allowed to have only a single branch in Thailand hence the same applies for all other major foreign players.

[Kf6vci]

PattayaParent, on 2008-08-06 16:45:37, said:

I've always sent money overseas from my HSBC account any time of the day I want.

It costs a lot more than 15 quids though.

I've been using this fascility a lot and can confirm the 15 quid charge. but they have a limit on the amount. I forgot, maybe 9,900 pounds?

What peeves me is them charging the same for EU wires which are completely free from Germany with an IBAN and online banking.

When you have time, set up a few payees. And if you need, you can get this done over the phone as well.

[AFKAFSinLOS]

chiang mai, on 2008-08-06 21:19:15, said:

... I believe you will also find that foreign banks are currently allowed to have only a single branch in Thailand hence the same applies for all other major foreign players.

Thailand's Banking sector has been opening up over the years, and has made some good strides in regulations...

Foreign banks like UOB and Standard Chartered have several branches, and have "local status" for their Thai subsidiaries. UOB has over a hundred branches and Standard Chartered around 40...

[SweatySock]

I've been using HSBC for transfers for the 6 years that I've been here. I have not encountered a limit on the amount of funds that I've transferred between HSBC accounts, (UK to Thailand), in fact last year I transferred 20,00 sterling to start building my house.
No major issues, the necessary paperwork was e-mailed to me then I returned it using the same method.

Apart from their requirements for minimum balances in both countries, they've been pretty good so far.

[samtam]

If you are a Premier customer you can do online transfers (same day) between your other HSBC accounts in other countries for free, through their "Global View", a page that shows all your accounts with HSBC in many countries, including just recently Thailand, and UK, Hong Kong etc etc.

[pkrv]

chiang mai, on 2008-08-06 15:19:15, said:

pkrv, on 2008-08-06 21:02:11, said:

HSBC's single branch in Bangkok has some VERY (I believe Thai and the UK emphasise language in some instances by repeating the same word - VERY, VERY) creative charges that cover two pages of A4 paper. If you have some money in the account one month you may end up owning them money the next.

HSBC are quite frankly only there to attempt to move into the market - go figure - one branch that has to hold its own - what 'service' will you get?

I've had a Premier account with HSBC Bangkok for several years and find their service to be very responsive and routine charges are waived more often than not. I believe you will also find that foreign banks are currently allowed to have only a single branch in Thailand hence the same applies for all other major foreign players.

Play fair chiang mai - What is the cost of opening the 'premier' account and what do you have to have continuously on deposit in funds? (From any global location) - explain all charges in detail - I know I have looked at this.

Edited by pkrv, 2008-08-07 21:58:15.

[monkeytunes]

samtam, on 2008-08-07 12:49:04, said:

If you are a Premier customer you can do online transfers (same day) between your other HSBC accounts in other countries for free, through their "Global View", a page that shows all your accounts with HSBC in many countries, including just recently Thailand, and UK, Hong Kong etc etc.

Small query
Can you transfer from a HSBC account in thailand to a UK account?

[cmsally]

If I remember correctly you have to have 100k pounds opening balance and keep at least 60k in your acct/s to get Premier.
Apart from free transfers you do get to speak to a real live human being on the phone. I find that alone is a saving in broken telephones (switchboards and automated messages are one of my pet peeves. I HATE THEM.)

[PattayaParent]

Yeah, and that just gets you to a call centre in India.

Best bet is to call to your branch at their 'phone number and speak to someone that's actually got access to your paper records, that's the only way I've found to get things sorted.

[sgunn65]

I am a premier customer with Uk accounts, an offshore account and a Bangkok account.

To open a premier account you need 50K in your accounts or you pay 20 pounds a month. This gives you free travel insurance and free transfers between HSBC accounts worldwide so if you transfer twice a month you end up saving. My account fluctuates and i have not had 50K in there for several months but I am still not charged. I think the UK banks have some discretion.

I do all my banking online or by phone since my fees are charged in dollars or UK and are paid to my UK or offshore account. I then transfer from there to my bangkok account for my needs and get cash out from any ATM ( up to 100,000 baht a day).

I did open a business account in Bkk but they would only give me a cheque book which is less use than a chocolate fireguard in this country. They wont give me an ATM card. So I closed the account in Bangkok, withdrew nearly 500K and went to put it into my personal account. They refused to let me pay cash into my own account!!!!!

So UK is great, nothing is too much trouble but Bangkok are a bunch of mindless morons. However, that said, the money I save on transfers more than makes up for their idiocy. I try to steer clear of HSBC in Thailand for anything barring taking money out of atms (you can withdraw from any ATM and most don't charge.

This works well for me and my business. Last week I transferred money by phone from UK to USA and it was in the guys US Chase bank account within 12 hours. That did cost me but for efficiency you cant beat them.

Another bonus is that as a premier customer you have 24 hour telephone banking. And you speak to a British person not an Indian call centre or a machine.

Edited by sgunn65, 2008-08-08 12:19:51.

[Theyreallrubbish]

sgunn65, on 2008-08-08 05:17:04, said:

I am a premier customer with Uk accounts, an offshore account and a Bangkok account.

To open a premier account you need 50K in your accounts or you pay 20 pounds a month. This gives you free travel insurance and free transfers between HSBC accounts worldwide so if you transfer twice a month you end up saving. My account fluctuates and i have not had 50K in there for several months but I am still not charged. I think the UK banks have some discretion.

I do all my banking online or by phone since my fees are charged in dollars or UK and are paid to my UK or offshore account. I then transfer from there to my bangkok account for my needs and get cash out from any ATM ( up to 100,000 baht a day).

I did open a business account in Bkk but they would only give me a cheque book which is less use than a chocolate fireguard in this country. They wont give me an ATM card. So I closed the account in Bangkok, withdrew nearly 500K and went to put it into my personal account. They refused to let me pay cash into my own account!!!!!

So UK is great, nothing is too much trouble but Bangkok are a bunch of mindless morons. However, that said, the money I save on transfers more than makes up for their idiocy. I try to steer clear of HSBC in Thailand for anything barring taking money out of atms (you can withdraw from any ATM and most don't charge.

This works well for me and my business. Last week I transferred money by phone from UK to USA and it was in the guys US Chase bank account within 12 hours. That did cost me but for efficiency you cant beat them.

Another bonus is that as a premier customer you have 24 hour telephone banking. And you speak to a British person not an Indian call centre or a machine.

I'll mirror this as I've had exactly the same experience.

In fact talking to the UK Premier people they were trying to get something sorted for me in the Bangkok Branch and they couldn't believe how unhelpful Bangkok HSBC Premier was or how stupid their policies were

[bobroper]

SweatySock, on 2008-08-07 12:31:13, said:

I've been using HSBC for transfers for the 6 years that I've been here. I have not encountered a limit on the amount of funds that I've transferred between HSBC accounts, (UK to Thailand), in fact last year I transferred 20,00 sterling to start building my house.
No major issues, the necessary paperwork was e-mailed to me then I returned it using the same method.

Apart from their requirements for minimum balances in both countries, they've been pretty good so far.

[bobroper]

This is correct

[chiang mai]

pkrv, on 2008-08-07 21:55:00, said:

chiang mai, on 2008-08-06 15:19:15, said:

pkrv, on 2008-08-06 21:02:11, said:

HSBC's single branch in Bangkok has some VERY (I believe Thai and the UK emphasise language in some instances by repeating the same word - VERY, VERY) creative charges that cover two pages of A4 paper. If you have some money in the account one month you may end up owning them money the next.

HSBC are quite frankly only there to attempt to move into the market - go figure - one branch that has to hold its own - what 'service' will you get?

I've had a Premier account with HSBC Bangkok for several years and find their service to be very responsive and routine charges are waived more often than not. I believe you will also find that foreign banks are currently allowed to have only a single branch in Thailand hence the same applies for all other major foreign players.

Play fair chiang mai - What is the cost of opening the 'premier' account and what do you have to have continuously on deposit in funds? (From any global location) - explain all charges in detail - I know I have looked at this.

Sorry for the late response but I only just spotted this. The amount varies based on where you open your first Premier account. In Hong Kong it's 1 mill HKD, in Bangkok it's three mill Baht and I think it's 50k Sterling in the UK. My primary account is in HK and the bundledd package is very cost effective, credit card, insurance etc - mostly it's convenience however that keeps me there. And if I fall below the required balance I pay a monthly fee of around 30GBP. Open one account in any country and you automatiucally get additional accounts free of charge in any other country.

[PattayaParent]

Kf6vci, on 2008-08-06 22:10:47, said:

PattayaParent, on 2008-08-06 16:45:37, said:

I've always sent money overseas from my HSBC account any time of the day I want.

It costs a lot more than 15 quids though.

I've been using this fascility a lot and can confirm the 15 quid charge. but they have a limit on the amount. I forgot, maybe 9,900 pounds?

What peeves me is them charging the same for EU wires which are completely free from Germany with an IBAN and online banking.

When you have time, set up a few payees. And if you need, you can get this done over the phone as well.

You must be talking about an onshore account then as the Jersey HSBC charge 35 quid for a transfer and don't have Thailand listed as a country in their network.

[jim1563]

Hi
Just be careful when transfering money using the hsbc online transfer I sent some money over to Bangkok bank was charged the 15.00 pounds then was also charged 20.00 pounds from Bangkok bank phoned hsbc they said I had ticked some box to pay all fees so make sure you check before sending.

[roamer]

Theyreallrubbish, on 2008-08-08 13:42:49, said:

sgunn65, on 2008-08-08 05:17:04, said:

I am a premier customer with Uk accounts, an offshore account and a Bangkok account.

To open a premier account you need 50K in your accounts or you pay 20 pounds a month. This gives you free travel insurance and free transfers between HSBC accounts worldwide so if you transfer twice a month you end up saving. My account fluctuates and i have not had 50K in there for several months but I am still not charged. I think the UK banks have some discretion.

I do all my banking online or by phone since my fees are charged in dollars or UK and are paid to my UK or offshore account. I then transfer from there to my bangkok account for my needs and get cash out from any ATM ( up to 100,000 baht a day).

I did open a business account in Bkk but they would only give me a cheque book which is less use than a chocolate fireguard in this country. They wont give me an ATM card. So I closed the account in Bangkok, withdrew nearly 500K and went to put it into my personal account. They refused to let me pay cash into my own account!!!!!

So UK is great, nothing is too much trouble but Bangkok are a bunch of mindless morons. However, that said, the money I save on transfers more than makes up for their idiocy. I try to steer clear of HSBC in Thailand for anything barring taking money out of atms (you can withdraw from any ATM and most don't charge.

This works well for me and my business. Last week I transferred money by phone from UK to USA and it was in the guys US Chase bank account within 12 hours. That did cost me but for efficiency you cant beat them.

Another bonus is that as a premier customer you have 24 hour telephone banking. And you speak to a British person not an Indian call centre or a machine.

I'll mirror this as I've had exactly the same experience.

In fact talking to the UK Premier people they were trying to get something sorted for me in the Bangkok Branch and they couldn't believe how unhelpful Bangkok HSBC Premier was or how stupid their policies were

A very old and dear friend of mine sold his mortgage free inherited house in the Uk and went to retire in LOS. Before he did so I helped him set up an offshore HSBC Premier account. From time to time its been necesscery to vist the Bangkok branch for various things, I have to go with him as he doesn't like "posh" banks and the upstairs Premier place is really not his bag. His fashion sense is largely Pattaya walking street and will usually consist of a England football shirt stretched over an enormous belly etc.

I have rarely met more helpful people especially considering he must strain their cultural minimum to the extreme.

So what are you guys doing wrong ?

Doh!! Please don't tell me it has anything to do with the 500K sterling in the account...surely not !!!!