Bangkok Bank New York

[khlongtoey]

thanks pib, well I don't think my  Capital One has any fee to ACH to the NY Branch.  But also I have the Schwab Card, so no cash advance charge, 

 

I guess there is the time/hassle factor  of making 2-3 separate trips to get to $3000  in cash advances  for $20, I might just do it  , I'd like to see it work  , as I set it up, but have never used it ....... :)

[Pib]

Oh, it works...just get it setup in your Sending bank ibanking.  I've used it many times over the years as have thousand of other U.S. folks to send personal transfers.   Simple, easy, chip, fast.  I've done two such transfers over the last 6 months...each for $7,500...1st transfer posted less than 24 hours later....2nd transfer posted in 36 hours.  But you Sending bank is an important part in how fast the funds get to you depending on how fast they "actually" send the funds after you initiate the transfer.

 

Also works like a charm for having U.S. govt pension payments to go to Bangkok Bank also although you need to open a special Bangkok Bank "Direct Deposit" account which comes with some limitations like no debit card and you must show up in person at a branch to withdraw/transfer money.   Have a reoccurring U.S. govt payment go to your regular Bangkok Bank account the pension paying agency will send it no problem, but Bangkok Bank will spot the Description/underlying ACH coding as being an U.S. govt payment and block/hold the payment until you come in and open a Direct Deposit account.  Although you could get around this by first having the U.S. govt payment sent to your U.S. bank account and then doing a manual/automatic transfer of an amount to your regular Bangkok Bank account which does come with a debit card, no restrictions, etc.   Basically, setup a relay of the funds.   But some people don't want to go this relay route/have their U.S. bank involved and just have their U.S. govt payment sent directly to the special Bangkok Bank direct deposit account.

 

Since you have a Schwab debit card you know you are reimbursed for the Bt220 ATM fee and as you mentioned there is no foreign transaction fee .  I have such a card also, but I try not to use it often as I don't want to possibly help kill the Schwab "Golden Reimbursement Goose" nor do I like letting Thai bank's get that fee (they already get a healthy interchange fee) which can be avoided by doing a counter withdrawal (a.k.a., cash advance) if the bank branch allows such withdrawals.  Some branches do....some don't.  And a few who don't charge a counter withdrawal fee for a foreign card, may still try to give you a DCC transaction (lower exchange rate) which is an indirect (hidden) fee....I think SCB branches do that.  Beware of Banksters.

 

Edited September 19, 2017 by Pib

[Jeffrey346]

On 9/17/2017 at 11:21 AM, a6patch said:

 

This is absolutely not true and is likely a shameful plug for the us direct express service. I have an ordinary bangkokbank account (and a usd acct) with ATM and ibanking and I send money using the NY branch all the time. There is no requirement to withdraw funds in person. 

We are talking about Social Security funds. Other funds can be sent to an ATM account.

[Jeffrey346]

On 9/17/2017 at 1:26 PM, chingching said:

As said by someone else, this is blatant lie.  I used to use it all the time,  but now I buy ethereum in the u.s.a. and sell it here.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

 

Be careful who you call a liar. Obviously, you know it all...

[Jeffrey346]

On 9/17/2017 at 10:08 PM, Pib said:

Yes, if you open a Bangkok Bank "Direct Deposit" savings account required for  U.S. govt payments such as Social Security/Military Retirement benefit payments no debit card or ibanking withdrawals/transfer-outs is allowed...a person must show-up in person at any Bangkok Bank branch to withdraw/transfer funds.   This is explained at the Bangkok Bank webpage.   However, you can transfer "into" the account via ibanking such as transferring funds from your Bangkok Bank acct, just any other Thai or foreign bank....and as discussed incoming payments directly from  the U.S. govt.

 

A person can also open a "regular" Bangkok Bank savings account which does come with a debit card, ibanking transfers out, etc.  However, you cannot send U.S. govt reoccurring benefit payments to a regular account as Bangkok Bank will spot the U.S. govt payment via the description and underlying coding in the transfer,  not post the funds/put them on hold, and send you a letter saying you need to come in and open a Direct Deposit account within approx 2 weeks or the funds will be sent back.

 

Using usdirectexpress to do an ACH transfer to your Bangkok Bank is basically them acting as a U.S. bank in this case.  Just as a person with a U.S. bank account can use ACH transfers  via their ibanking to transfer money to another bank which has an ACH/ABA routing number such as the Bangkok Bank NY branch.   All of my U.S. banks have that ACH transfer capability...and the primary ones I use do not charge any Sending fee like the $1.50 sending fee usdirectexpress charges.  But hey, $1.50 is still low compared to some of the more fee-evil U.S. banks.

 

Now, on-top of any Sending bank fee such as the usdirectexpress $1.50 fee, the transfers will also still incur the two Bangkok Bank transfer/receiving fees addressed at their website.  These fees are applied before posting to your Bangkok Bank account and will not appear on your bank account statement/ibanking which fools a lot of people into thinking no fees were applied...but the fees were indeed applied whether coming from a U.S. bank, usdirectexpress, or even the U.S. govt pension paying agency.  There is one way to see the two fees through by signing up for Bangkok Bank's free SMS Remittance Alert which will show the fees in the SMS they send to your when they post the funds to your account. 

 

Some folks do get around use of a Bangkok Bank Direct Deposit account for U.S. govt payments by first having it sent to their U.S. Bank (or it could be usdirectexpress) and then resending via manual or automatic transfer to their regular Bangkok Bank account.   In this transfer their is no description/underlying U.S. govt coding because now it a simple personal transfer from your U.S. bank....those funds can transfer into a regular, Direct Deposit, FCD, etc., account.   And those two Bangkok Bank fee discussed for incoming foreign transfers apply.

 

But for anyone out their using usdirectexpress using their card outside the U.S. will incur a $3 flat fee plus 3% of the amount withdrawal plus no reimbursement of the Thai ATM User fee for foreign cards which is Bt220 at most Thai banks.  That made the ATM withdrawal pretty pricey fee-wise.  The usdirectexpress card is fine and cheap to use "within" the U.S. but expensive to use (fee-wise) outside the U.S.    See their fees at the weblink.

 

Lots of good info but you can not use Bangkok Bank iBanking. You must appear in person..   

If you use a direct deposit service to receive funds from a US Government Agency, you must appear in person at a Bangkok Bank branch to withdraw the funds.

Bangkok Bank cannot authorize the withdrawal of funds from your direct deposit account by an appointed representative, or via ATM or any other electronic channel. You must appear in person at a Bangkok Bank branch to withdraw the funds. You can, however, open a normal savings or current account and transfer the funds from your direct deposit account to this account. You may then withdraw your funds as usual via ATM or any other electronic channel.
 

 

On 9/17/2017 at 10:08 PM, Pib said:

 

 

 

 

 

[Pib]

 

Quote

 

Jeffery346 said:

Lots of good info but you can not use Bangkok Bank iBanking. You must appear in person..   

If you use a direct deposit service to receive funds from a US Government Agency, you must appear in person at a Bangkok Bank branch to withdraw the funds.

Bangkok Bank cannot authorize the withdrawal of funds from your direct deposit account by an appointed representative, or via ATM or any other electronic channel. You must appear in person at a Bangkok Bank branch to withdraw the funds. You can, however, open a normal savings or current account and transfer the funds from your direct deposit account to this account. You may then withdraw your funds as usual via ATM or any other electronic channel.

 

 

You can have a Direct Deposit account loaded on your ibanking along with your other Bangkok Bank accounts.   I do.  You can transfer "into" the Direct Deposit account using ibanking from your other Bangkok Bank account  (I've done it several times).  But if you want to transfer-out funds to another account or withdraw funds directly into your hands you must make the personal visit to any Bangkok Bank branch.