I have investigated CitiBank options for their CitiGold (Premier) account. Not even close to HSBC services. Fees charged for most everything, including transfers from other Citi banks. Only 2M baht qualifies, but not on a combined International basis as HSBC. Forget maintaining a US$ account locally - they charge .5% on all deposits into such, including transfers (1% for US$ cash deposits). They quote offering 'Global View' but only for information, not transfers.
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Revamping HSBC Sells Thai Banking Assets
Started by webfact, 2012-01-26 06:08
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81 replies to this topic
#77
griffer
Advanced Member Posted 2012-03-29 10:48:23
If you are going to do the change from HSBC remember to take with you your passport and a utility bill in your name(I did not bring this and had to return)..
also note that each account you open (I was opening Thai Baht, USD, and UKP) must retain a balance of $500 or there is a charge of $10/month.. now I've got the interesting experience of visiting BoA in All Seasons Place..cards ready in two weeks they told me. #78
SantiSuk
Platinum Member Posted 2012-04-04 23:23:29
HSBC will not currently undertake a Global View transfer from an HSBC UK account to an HSBC Thai account. The service has been 'temporarily' unavailable for at least the last three working days that I have tried, according to the website. If it's not available tomorow I'll have to call the to find out why and when it will return.
What a great service this so-called World Bank is now giving (not). Bloody typical that they go and do that when the rate has gone up from its lows of this last quarter. So much for the priveleges of being a Premier customer. PS - HSBC Bangkok told me that global transfers could still be made after 31-March, so in theory the intended closure/sell-off is not the reason. That's the only reason I did not rush to close my HSBC account before 31 March. #79
chiang mai
Ex Member Posted 2012-04-09 11:26:47
HSBC will not currently undertake a Global View transfer from an HSBC UK account to an HSBC Thai account. The service has been 'temporarily' unavailable for at least the last three working days that I have tried, according to the website. If it's not available tomorow I'll have to call the to find out why and when it will return. What a great service this so-called World Bank is now giving (not). Bloody typical that they go and do that when the rate has gone up from its lows of this last quarter. So much for the priveleges of being a Premier customer. PS - HSBC Bangkok told me that global transfers could still be made after 31-March, so in theory the intended closure/sell-off is not the reason. That's the only reason I did not rush to close my HSBC account before 31 March. I'll be grateful if you'd post your findings on this, as and when you find out. #80
SantiSuk
Platinum Member Posted 2012-04-11 17:39:12
Global transfers function is working again today (which was the first time I have tried since before Easter. The indicated rate is rather poor at 48.15, compared to the rate you would get if you sent money to say Bangkok Bank, whose sight TT rate today is 48.88.
Sending say GBP 10,000 directly to your Bangkok Bank account in Thailand (I have one for this purpose) would generate in theory 488,800 baht less GBP 17 transfer charge from HSBC and about 800 baht Bangkok Bank charges on receipt - net product 487,170 baht. Doing a Global transfer at 48.15 would generate only 481,500 baht. So much for the benefit of being an HSBC Premier customer! In the past the differential between HSBC exhange rates applied to global transfers as compared with Bangkok Bank's rate has been marginal making the global transfer with its convenience well worthwhile. It's little surprise that the exchange rates have got relatively poorer with HSBC after it announced it was pulling out of Thialand retail banking. Coincidence yes? Sure! To do more than GBP 10,000 would require an agreed currency transaction at a one off exchange rate, whereas lager sums can be done at 48.15 on-line under a global transfer. Given the unfavourable outcome on the sub-GBP 10,000 amount, I would want to investigate the alternative of sending to my Bangkok Bank account before running with the ease of a global transfer. #81
Babcock
Senior Member Posted 2012-04-19 14:32:18
My question is having recently set up a Premier account here with HSBC to take future funds (and just received the letter about the closureand changeover to BAY) how do I go about settting up another Premier account say in Singapore or even over in the UK?
It was relatively easy to set up the account here. I'm very disappointed. I do not have a work permit either. The account needs to be in euros. I already bank with Kasikhorn and use HIFX for transfers which works fine and is a lot easier than using Santander in UK![color=#000000 ! important][font=arial ! important]
#82
chiang mai
Ex Member Posted 2012-04-24 10:34:13
My question is having recently set up a Premier account here with HSBC to take future funds (and just received the letter about the closureand changeover to BAY) how do I go about settting up another Premier account say in Singapore or even over in the UK? It was relatively easy to set up the account here. I'm very disappointed. I do not have a work permit either. The account needs to be in euros. I already bank with Kasikhorn and use HIFX for transfers which works fine and is a lot easier than using Santander in UK![color=#000000 ! important][font=arial ! important]
Contact your rep at HSBC Bangkok and they'll do it for you, I just set up an account in Singapore but now question whether I'll actually use it and may well substitute Kasikorn locally instead.. |
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