Beware of Bangkok Bank

[Pib]

1 hour ago, mesquite said:

Please give me a link to the Bankok Bank policy you mention.  Where did you read or hear that it is the Bangkok Bank policy (vs USG) to restrict the account?

Please review my posts which quote/reference Social Security POMS/regulations that joint accounts are allowed....also with no mention of not allowing ATM cards, ibanking transfers out, etc.  Therefore, it's Bangkok Bank's policy in the restrictions they impose and while trying to say it's SSA regulations dictating the limitations...that is, deflect the true source of the limitations.  

[KhonKaenKowboy]

12 minutes ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

Mine is paying 1.8% on a 12 month, 1.7% on a 5 month, and 1.5% on savings (no withholding).  Kind of odd how hard it is to get numbers out of people on TVF....

[NancyL]

39 minutes ago, KhonKaenKowboy said:

55 minutes ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

 

39 minutes ago, KhonKaenKowboy said:

Mine is paying 1.8% on a 12 month, 1.7% on a 5 month, and 1.5% on savings (no withholding).  Kind of odd how hard it is to get numbers out of people on TVF....

 

The Kad Suan Kaew branch of Bangkok Bank clearly posts these numbers also.    As does the Bangkok Bank website:  http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/FixedDeposits/Pages/SpecialFixedDeposits.aspx

 

JonWilly, you may not have realized that your account at Bangkok Bank was "Fixed Deposit" account which meant you had committed to keeping the funds on deposit for a certain period of time when you opened the account in order to obtain a certain interest rate.  That's what the ladies were trying to tell you when they said "no move money".  What color was your bankbook?  If it was blue, then you could move your money at any time without a loss of accrued interest, if not then you lost your accrued interest by moving your money before the end of the contractual period.

 

And the answer to "what is the best interest rate I can obtain?"  depends on how long you're willing to tie up your money.  I think they were trying to tell you that you'd already made a commitment with your funds and to come back in three months and ask the question again because the interest rates will be different.  

 

Gheesh, Bangkok Bank has a good website and little research would be good before you go in to ask these questions, esp. if the people in the branch in question don't speak good English -- or if you speak non-standard English or heavily accented English.  (I'm sorry, but the staff at BB-KSK doesn't seem to have problems understanding my well-enunciated midwest U.S. English, but they tell me all the time they can't understand many Aussies or people from the north of England.)

[kkerry]

1 hour ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

 

You asked for the best interest rate, so they offered you a Term Deposit with a higher rate of interest... exactly as you requested... so in response you closed your account... 

[NancyL]

1 hour ago, KhonKaenKowboy said:

Wit so many banks in the us doing  free ACH, it clearly seems foolish to leave it up  to the federal government and a foreign bank.  It would be better to control the transfers yourself.  Only doing them quarterly for one thing.  I would bet the people who have become defacto stateless, without even a us account make up the brunt of Nancy's clients and don't get me started on the bogus letters.  I've got three senior us citizens near me...all use the letters, and they barely make 65k between them and have zero in savings.  One told me the SS check deposit is free at bkbank...I have very serious doubts.  Like the 50 THB they charge you on a counter withdrawal; it maynotbe listed, but it is sure as heck incorporated into what shows as the deposit.

Well, the costs of direct deposit of SS at Bangkok Bank is fairly low.  Not zero, but cheap and very, very reliable.  It's OK for younger people, those with all their marbles, those with reliable partners and accounts here in Thailand that serve as reserve to use ACH transfer for SS.  That's, in effect what Hubby does.  

 

But for older people on their own, living from pension check to pension check, I recommend Bangkok Bank direct deposit.  I've seen too cases where people like this had their SS deposited into a U.S. account and few used ACH transfer.  

 

Most used their ATM card a couple times a month to get 20,000 baht with 180 baht fee each time -- the most foolish way to transfer money long-term.  The ATM machine eats the card and then what?  The bank won't send the card to a foreign address and the friend/son/ex-wife's address on file with the bank isn't valid anymore for accepting a new card.  Or they become infirm and give the ATM card to someone to get the money and guess what happens?  

 

The few who do use ACH interbank transfers operate just fine, until they're involved in an accident or in the final stages of a terminal disease and so whacked out  that they can no longer operate their computer to make a transfer.  If you're going to use this route, be sure to have a U.S. credit card, set up with monthly autopay from the account where your SS is deposited.  That's what we do with Hubby's SS account.  I've lucked into some situations with people I've assisted where that's what they did and we managed to keep the bills paid while they were in a coma for months or assisted living for dementia.  So far, no one's objected to me using a client's credit card to pay hospital or nursing home bills.  (Sometimes, you just have to take risks if you're going to help someone in need -- it's not like I'm buying shoes at Central Festival with the credit card of a terminally ill person.)

 

And speaking about using the funds of an incapacitated person to take care of him -- banks in Thailand will release funds from someone's account to pay hospital bills.  They don't do this casually.  It's required to bring a letter from the hospital, the outstanding hospital bill and then often the bank sends a representative to the hospital to check out the situation.  They make out a check, using funds from the person's account, with the check made out to the hospital.  Unfortunately, they will not release funds from an incapacitated person account to pay rent on his condo, utility bills, etc.  Just hospital bills.  

 

Of course, overseas banks won't do this for someone in Thailand.  This, more than anything else, is why I recommend that people like the three low-income senior citizens living near KKK have their SS direct deposited to BB.  A responsible individual will be able to get to this money to pay hospital bills and keep them alive if they are incapacitated.

[KhonKaenKowboy]

Assuming a hospital will provide ongoing care to someone with a 20k income no insurance or savings.  And they say the millineals are irresponsible.  Everyone should have a few hundred grand THB here in a bank...would at give breathing room to make a plan.  

[mesquite]

2 hours ago, KhonKaenKowboy said:

Wit so many banks in the us doing  free ACH, it clearly seems foolish to leave it up  to the federal government and a foreign bank.  It would be better to control the transfers yourself.  Only doing them quarterly for one thing.  I would bet the people who have become defacto stateless, without even a us account make up the brunt of Nancy's clients and don't get me started on the bogus letters.  I've got three senior us citizens near me...all use the letters, and they barely make 65k between them and have zero in savings.  One told me the SS check deposit is free at bkbank...I have very serious doubts.  Like the 50 THB they charge you on a counter withdrawal; it maynotbe listed, but it is sure as heck incorporated into what shows as the deposit.

The fees for sending in small amounts monthly would be about $11 per month or 132 per year which is significant for someone on a very tight budget.

 

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

[amexpat]

1 hour ago, mesquite said:

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

Edited 1 hour ago by mesquite

Why?

[NancyL]

1 hour ago, mesquite said:

The fees for sending in small amounts monthly would be about $11 per month or 132 per year which is significant for someone on a very tight budget.

 

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

It is not the job of the U.S. gov't to enforce a Thai Imm. rule.  The Aussies, Dutch and other nationalities think the same thing.  

 

All that these consulates/embassies are doing is certifying that the signatures on the documents are valid.

 

Anything more is up to the Thai gov't to enforce their own rules.   I think the "new administration" would agree with this.

[OJAS]

On 1/23/2017 at 11:40 PM, moe666 said:

Never any problem with my Bangkok Bank account and of course I do not have a ATM card, going to bank for withdrawal is inconvient but noworries about being hacked

Ditto - except that I make online transfers to the wife's account and send her down to the ATM whenever I need cash! 

 

On 1/24/2017 at 9:09 AM, sharktooth said:

Switch to Kasikorn. I've been with them for years and I have no complaints. Btw I also have accounts with Lloyds, Santander, HSBC and AFR, but Kasikorn continue to impress me.

Disagree. I switched to Bangkok Bank from Kasikorn after my account with them had been relieved of a significant amount by an ATM fraudster.

[mesquite]

4 hours ago, NancyL said:

It is not the job of the U.S. gov't to enforce a Thai Imm. rule.  The Aussies, Dutch and other nationalities think the same thing.  

 

All that these consulates/embassies are doing is certifying that the signatures on the documents are valid.

 

Anything more is up to the Thai gov't to enforce their own rules.   I think the "new administration" would agree with this.

A person who signs and swears the information that form is true is committing perjury if they know it isn't.  Further, a consular official does not have to stamp and sign the form if she thinks the information is not valid.

[KhonKaenKowboy]

10 hours ago, NancyL said:

The Kad Suan Kaew branch of Bangkok Bank clearly posts these numbers also.    As does the Bangkok Bank website:  http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/FixedDeposits/Pages/SpecialFixedDeposits.aspx

 

JonWilly, you may not have realized that your account at Bangkok Bank was "Fixed Deposit" account which meant you had committed to keeping the funds on deposit for a certain period of time when you opened the account in order to obtain a certain interest rate.  That's what the ladies were trying to tell you when they said "no move money".  What color was your bankbook?  If it was blue, then you could move your money at any time without a loss of accrued interest, if not then you lost your accrued interest by moving your money before the end of the contractual period.

 

And the answer to "what is the best interest rate I can obtain?"  depends on how long you're willing to tie up your money.  I think they were trying to tell you that you'd already made a commitment with your funds and to come back in three months and ask the question again because the interest rates will be different.  

 

Gheesh, Bangkok Bank has a good website and little research would be good before you go in to ask these questions, esp. if the people in the branch in question don't speak good English -- or if you speak non-standard English or heavily accented English.  (I'm sorry, but the staff at BB-KSK doesn't seem to have problems understanding my well-enunciated midwest U.S. English, but they tell me all the time they can't understand many Aussies or people from the north of England.)

 

[KhonKaenKowboy]

Bkkbank 5 month paying 1.25%, 11 month 1.375%....by using the competition, you will get an extra 3600 per year on just your 800k....at the five month rate...more than 1/3 more.

[jonwilly]

I Politely requested the highest rate for my money.

The lady did not explain any matter just stated in a Formal manner, Do not move your money from this account.

I asked a second time and received the same 'Order'

 

john

UOB which I understand to be the Thai 'Offshoot' of the Union Bank of Singapore have a friendly staff of young polite ladies.

[chiang mai]

26 minutes ago, jonwilly said:

I Politely requested the highest rate for my money.

The lady did not explain any matter just stated in a Formal manner, Do not move your money from this account.

I asked a second time and received the same 'Order'

 

john

UOB which I understand to be the Thai 'Offshoot' of the Union Bank of Singapore have a friendly staff of young polite ladies.

United Overseas Bank (Thailand) is the Thai subsidiary of the Singaporean Bank. Best bank in the country if not in Asia.

 

BTW - 1.89% for 12 months fixed and 1.4% instant access, Preferred Customers only.

[NancyL]

5 hours ago, mesquite said:

A person who signs and swears the information that form is true is committing perjury if they know it isn't.  Further, a consular official does not have to stamp and sign the form if she thinks the information is not valid.

And I do know of situations where they refuse the sign the form.  If the person cannot explain why or what s/he is signing or if they have assisted the person in the past due to having medical problems and claiming they can't pay the bill due to low income.

 

This is something to consider for those of you who use Income Letters.  If you're in a coma, have dementia or are otherwise incapable of signing an Income Letter, you can still obtain a retirement extension if you have 800,000 baht in a Thai bank.  But not so if you use an Income Letter.  The U.S. Consulate will not notarize the signature for someone who is clearly not able to sign a document or doesn't understand what is it that they're signing.  Nor will they knowingly sign a false statement.

 

Interestingly, back in the day when the British Consulate was here, they would sign an Income Letter for an incapacitated person because they were certifying the income, not the signature of the person.  So a second party could demonstrate to the British Consulate that the person had sufficient Income, but that's not the case with the Americans.  All they're doing is notarizing that the person is knowing signing the document.

 

Big difference.

[Bill97]

All that these consulates/embassies are doing is certifying that the signatures on the documents are valid.

 

For the US it is more than a validation of a signature as Stated in previous post be Mesquite.

[true blue]

12 hours ago, amexpat said:

Why?

Because they will f__k it up for genuine people.and another benefit will be withdrawn.

[true blue]

49 minutes ago, true blue said:

Because they will f__k it up for genuine people.and another benefit will be withdrawn.

Be nice if you could get trump  to sign a executive order to stop yanks leaving America.think the world would be a safer place then.

 

 

[OJAS]

On 1/24/2017 at 6:35 AM, Dante99 said:

so you need Bangkok bank because of the USA connection, okay keep it but as soon as the money arrives in your Thai account, remove it and put it in another bank

 

But he might then be clobbered by interbank transfer fees here in LOS, which could make direct SWIFT transfers from his USA account into a non-BBL account worthwhile, though.

[JimGant]

Quote

One told me the SS check deposit is free at bkbank...I have very serious doubts

 

It's not free. It costs the same as a self-initiated ACH transfer (or a periodic automated ACH transfer established between your US bank and Bangkok Bank). Send $2000 or less -- $5 upfront fee; .0025% backend fee. Same cost as a Direct Deposit.

 

Quote

The few who do use ACH interbank transfers operate just fine, until they're involved in an accident or in the final stages of a terminal disease and so whacked out  that they can no longer operate their computer to make a transfer.

 

Of course, you could teach your wife or partner how to punch the ACH transfer buttons...... Or, if you like a set amount transferred periodically, just set this up with your US bank. If you're anal, why not have an ACH deposit exactly equal to your monthly Social Security payment automatically sent monthly by your US bank. The cost would be exactly the same as a Direct Deposit. And you could pretend you have one of those really neat Direct Deposit thingees. But, hey, it would end up in an account your ATM card could tap -- or your wife could withdraw if you're not up to wheeling your wheelchair into town. So, sorry, you won't get to experience the downside of a Direct Deposit.

 

Quote

And speaking about using the funds of an incapacitated person to take care of him -- banks in Thailand will release funds from someone's account to pay hospital bills.  They don't do this casually.  It's required to bring a letter from the hospital, the outstanding hospital bill and then often the bank sends a representative to the hospital to check out the situation.

 

That sounds wonderful. However, I prefer to have my wife or designated friend have access to my account. Sounds like, with Direct Deposit, they'd have the tubes pulled by the time the required payment showed up.

 

Yeah, if somehow you don't have a US financial account, Direct Deposit may be your only option. But I find it hard to believe you can't open a bank account, even after having made the final leap over here.

 

And, yes, a Direct Deposit is probably a few days quicker than a self-initiated ACH transfer. But, if you're going to starve to death because of a couple days' delay, you've got much bigger problems than what's being discussed here.

 

 

[Pib]

20 hours ago, KhonKaenKowboy said:

Wit so many banks in the us doing  free ACH, it clearly seems foolish to leave it up  to the federal government and a foreign bank.  It would be better to control the transfers yourself.  Only doing them quarterly for one thing.  I would bet the people who have become defacto stateless, without even a us account make up the brunt of Nancy's clients and don't get me started on the bogus letters.  I've got three senior us citizens near me...all use the letters, and they barely make 65k between them and have zero in savings.  One told me the SS check deposit is free at bkbank...I have very serious doubts.  Like the 50 THB they charge you on a counter withdrawal; it maynotbe listed, but it is sure as heck incorporated into what shows as the deposit.

 

Oh, the direct deposit is definitely not free...nor a person just doing an adhoc ACH transfer.  Bangkok Bank applies two fees as shown below whether it's a direct deposit from social security or other govt pension payment agency....also applies for a person just doing an adhoc transfer to their Bangkok Bank account.  

 

One fee as the funds flow through their New York branch and then another fee on the in-Thailand branch end.   Now since both of these fees are applied "before" posting to the person's account (as noted in the fee chart below) and are not documented anywhere on the person's account, it fools a lot of people into thinking no fees were applied.  

 

But if a person has free SMS Remittance setup on their account the SMS will show the funds arriving Thailand minus a few dollars due to the NY branch fee already being sliced off and the 0.25% (Bt200 min, Bt500 max) fee...the SMS will also show the exchange rate given...and finally the amount being posted to your account.  But to repeat the account will not show those two fees anywhere as they are deducted/applied "before" posting.

 

And I have never been charged a fee for a counter withdrawal at Bangkok Bank.   And I don't understand by what you mean when you say they apply a Bt50 fee for a counter withdrawal, but then say its cooperated into the deposit.  Withdrawal and deposit are on opposite ends of the spectrum.

 

Maybe you are still talking something related to the incoming direct deposit/wire transfer....I don't know.   Now I've seen quite a few folks in the provinces mention that they also seem to see a inter-region transfer fee since the incoming direct deposit/wire transfer funds arrive HQ Bangkok Bank in Bangkok and then transferred to the person's Bangkok Bank branch outside of Bangkok. 

 

[Bill97]

 
But he might then be clobbered by interbank transfer fees here in LOS, which could make direct SWIFT transfers from his USA account into a non-BBL account worthwhile, though.

No in Thailand interbank transfer fees, cash withdrawal, walk down the street a bit and deposit.

[KhonKaenKowboy]

 

23 hours ago, KhonKaenKowboy said:

  One told me the SS check deposit is free at bkbank...I have very serious doubts.  Like the 50 THB they charge you on a counter withdrawal; it may not be listed, but it is sure as heck incorporated into what shows as the debit on your US account..

Just to clarify, in the same way people believe there isn't a fee on their SS Direct deposits with BKK, because there are no line items; many believe that there isn't a fee on the counter withdrawals, which there is a 50 THB fee.  On 20,000 THB that is .25% or about .0825 Satang per Dollar.  So if you are signing for 20,000..they are actually giving you the MC/Visa rate for 19,950, which is a little bit better rate than their "Buy" rate.  We beat this to death several years ago, and like the guy who told me BKK Bank does it as a courtesy to Americans, I asked if he had ever compared the TT buy rate at the time of the transfer vs. what he received.  Of course not.  Well, I did a 15,000 THB counter withdrawal at Bangkok Bank and compared it with the Visa/MC rate....It worked like I stated to the thousandth of a Satang.  BKK makes most of its profit from fees....and there was recent talk that they may suffer as this new national payment system rolls out in several months (late).

[KhonKaenKowboy]

3 hours ago, KhonKaenKowboy said:

 

Just to clarify, in the same way people believe there isn't a fee on their SS Direct deposits with BKK, because there are no line items; many believe that there isn't a fee on the counter withdrawals, which there is a 50 THB fee.  On 20,000 THB that is .25% or about .0825 Baht to the Dollar.  So if you are signing for 20,000..they are actually giving you the MC/Visa rate for 19,950, which is a little bit better rate than their "Buy" rate.  We beat this to death several years ago, and like the guy who told me BKK Bank does it as a courtesy to Americans, I asked if he had ever compared the TT buy rate at the time of the transfer vs. what he received.  Of course not.  Well, I did a 15,000 THB counter withdrawal at Bangkok Bank and compared it with the Visa/MC rate....It worked like I stated to the thousandth of a Baht  BKK makes most of its profit from fees....and there was recent talk that they may suffer as this new national payment system rolls out in several months (late).

Edited.

[mesquite]

I have always noticed a discrepancy when I have withdrawn money via my US CC at Bangkok Bank.  However, I always kept it in percent and it varied and I could not figure out what the source of the discrepancy was.  Good detective work, KKK, to realize it's a consistent amount in baht, 50 to be exact.  I will be watching for this the next time I get a cash advance on my US CC.

[Pib]

4 hours ago, KhonKaenKowboy said:

 

Just to clarify, in the same way people believe there isn't a fee on their SS Direct deposits with BKK, because there are no line items; many believe that there isn't a fee on the counter withdrawals, which there is a 50 THB fee.  On 20,000 THB that is .25% or about .0825 Satang per Dollar.  So if you are signing for 20,000..they are actually giving you the MC/Visa rate for 19,950, which is a little bit better rate than their "Buy" rate.  We beat this to death several years ago, and like the guy who told me BKK Bank does it as a courtesy to Americans, I asked if he had ever compared the TT buy rate at the time of the transfer vs. what he received.  Of course not.  Well, I did a 15,000 THB counter withdrawal at Bangkok Bank and compared it with the Visa/MC rate....It worked like I stated to the thousandth of a Satang.  BKK makes most of its profit from fees....and there was recent talk that they may suffer as this new national payment system rolls out in several months (late).

A Bt50 disparity has never occurred for me...based on my personal experience.  I've done quite a few counter withdrawals at Bangkok Bank  at a branch here in Bankgok with my foreign Visa cards and simultaneously depositing the funds in my Bangkok Bank account.   Like withdrawing Bt60k and having it deposited in a combo transaction....the money never touched my hands.  The exchange rate hitting my U.S. account for Bt60K withdrawal matched the Visa exchange rate to like the 3, 4 or more decimal point.  There was no Bt50 disparity like in a hidden fee or Bangkok Bank using their own exchange rate (they use the Visa/Mastercard rate not a Bangkok Bank rate)....not even a one baht disparity.

 

Also, keep in mind when using a credit card for the withdrawal, you will not be getting the Visa/Mastercard exchange rate for the date of the withdrawal, because for credit card transactions it takes a few business days for the transaction to finalize/post.  The exchange rate you get will be on the date that  Visa/Mastercard declare as the posting date upon competition of all transaction processes.    So, when determining the exchange rate you finally got use the posting date; not the actual date of the transaction.  Since exchange rates can change daily (sometimes more with Mastercard) this could make it appear a fee has been charge, especially if the  posting date exchange rate is lower than the exchange rate on date of transaction.

[Nong Khai Man]

Bangkok Bank DEDUCT 500 Baht ( Charges ) from My U.K State Pension Transfer Every Month as well.......Jeez I Only get 288.00 Pound a Month as it is So with their deduction I'm only getting approx 275.00 Pounds Now !!

[roo860]

Bangkok Bank DEDUCT 500 Baht ( Charges ) from My U.K State Pension Transfer Every Month as well.......Jeez I Only get 288.00 Pound a Month as it is So with their deduction I'm only getting approx 275.00 Pounds Now !!

SCB do the same, it's the norm, is it not?

Sent from my SM-G920F using Thaivisa Connect mobile app

[Pib]

22 minutes ago, Nong Khai Man said:

Bangkok Bank DEDUCT 500 Baht ( Charges ) from My U.K State Pension Transfer Every Month as well.......Jeez I Only get 288.00 Pound a Month as it is So with their deduction I'm only getting approx 275.00 Pounds Now !!

Something don't sound right with your Bt500 deduction statement.  If you are talking the 0.25% (Bt200 min, Bt500 max) receiving fee then your in-Thailand receiving fee would be the Bt200 min for a small amount liek 275 pounds.   If you are using BACS for the transfer there is also a GBP 20 fee on the Bangkok Bank UK end.  Since you are getting a receiving fee then you must be using the GBP 20 fee method shown in the Bangkok Bank chart below.  Otherwise you would not incur any in-Thailand fee but instead receive a GBP 15 fee on the UK end but receive the UK branch crappy (lower) exchange rate. 

 

Considering these two possible fees....one on the Bangkok Bank UK end and possibly one on the in-Thailand Bangkok Bank end, it just don't add up to Bt500.

 

 

Fee Structure from Bangkok Bank website

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