Major Change Eff 1 Apr 19 in Bangkok Bank ACH Transfers

[Pib]

1 hour ago, TallGuyJohninBKK said:

...than with MJ, which in recent years, at least for me, has had a tendency to randomly cut off calls at various points especially on its Android app, and which has a somewhat spotty SMS service. 

Well...here I thought it was just my MJ app that acted like that. 

[TallGuyJohninBKK]

6 minutes ago, Pib said:

Well...here I thought it was just my MJ app that acted like that. 

 

It's odd...  I don't have any call quality problems with my MJ desktop phone connected via the MJ dongle and my wifi router.

 

But I have constant problems with the MJ Android app, dropped calls and feedback/echo on the other end of the call. And I'm pretty sure it's not a local issue with my wifi, as I use my two different wifi connections for TextNow and other VOIP calling and never have any problems at all with those.

 

[Pib]

I have the MJ "app" problem on Wifi or mobile 4g/3g DTAC connection.   For the last month I've had much higher than normal use of my MJ number and it's been common after 5 to 10 minutes of talking the I'll just lose the connection totally....or for about 30 seconds there is no audio either way and then we can start hearing each other again.  But when using the MJ adapter hooked to the router with a cordless phone I don't get that problem nearly as much.

 

I also have a NetTalk VOIP number and as mentioned a GV VOIP number and I don't experience the problem.

 

For the MJ VOIP number I pretty much just use it for texts and the ability to make/receive a quick & short call on my smartphone. 

 

I was able to download/install that TextNow app but haven't activated an account yet/got a number.  Any things to avoid since you have a few months of  use under your belt.  Maybe just reply in a separate PM if you have the time.  Thanks.

[TallGuyJohninBKK]

5 minutes ago, Pib said:

I have the MJ "app" problem on Wifi or mobile 4g/3g DTAC connection.   For the last month I've had much higher than normal use of my MJ number and it's been common after 5 to 10 minutes of talking the I'll just lose the connection totally....or for about 30 seconds there is no audio either way and then we can start hearing each other again.  But when using the MJ adapter hooked to the router with a cordless phone I don't get that problem nearly as much.

 

I also have a NetTalk VOIP number and as mentioned a GV VOIP number and I don't experience the problem.

 

For the MJ VOIP number I pretty much just use it for texts and the ability to make/receive a quick & short call on my smartphone. 

 

I was able to download/install that TextNow app but haven't activated an account yet/got a number.  Any things to avoid since you have a few months of  use under your belt.  Maybe just reply in a separate PM if you have the time.  Thanks.

 

Ya, I'll message you. The phone thing is a bit off topic for this thread. Was just trying to help address the banking SMS issue.

 

There have been prior threads on the U.S. phone number/SMS issues, I'm pretty sure.

 

[tutsiwarrior]

I just called Ms Supatra at the Silom BBK branch of Bangkok Bank who assisted me with setting up my deposit account to receive SSA pension payments from Bangkok Bank in NYC...and she confirmed that the data that they presently have for my account on their data base is in IAT format and that no further action is required to accommodate anything that may happen in April of next year...

 

the data that the bank has presently is from info that I gave them when I opened the account in late 2016 early 2017, there were no amendments to the original application from my side...

 

folks may want to query the Silom branch in this regard to see what they presently have on their database with regard to any future changes/requirements for transfers...you can do this on the phone with just yer account number...

 

 

Edited September 27, 2018 by tutsiwarrior

[Pib]

1 hour ago, tutsiwarrior said:

I just called Ms Supatra at the Silom BBK branch of Bangkok Bank who assisted me with setting up my deposit account to receive SSA pension payments from Bangkok Bank in NYC...and she confirmed that the data that they presently have for my account on their data base is in IAT format and that no further action is required to accommodate anything that may happen in April of next year...

 

the data that the bank has presently is from info that I gave them when I opened the account in late 2016 early 2017, there were no amendments to the original application from my side...

 

folks may want to query the Silom branch in this regard to see what they presently have on their database with regard to any future changes/requirements for transfers...you can do this on the phone with just yer account number...

 

What address do you have on file with SSA?  Do you have a foreign/Thailand address or a U.S. address? 

 

The reason I ask is  trying to figure out why some folks are coded as IAT and some PPD.   One other member who said his payment is arriving in IAT format said he only had his foreign/Thailand address on file with SSA.   

[tutsiwarrior]

36 minutes ago, Pib said:

What address do you have on file with SSA?  Do you have a foreign/Thailand address or a U.S. address? 

 

The reason I ask is  trying to figure out why some folks are coded as IAT and some PPD.   One other member who said his payment is arriving in IAT format said he only had his foreign/Thailand address on file with SSA.   

 

I've only ever had one permanent address in the past 20 years and that has been in Thailand...the SSA application (in Manila) and the Bangkok Bank deposit account were opened with that address which includes both PO Box and physical address that I was able to establish with the US Embassy income verification letter for extension of stay purposes...correspondence from the SSA only has the PO Box address...I've never received any correspondence from Bangkok Bank...

 

 

Edited September 27, 2018 by tutsiwarrior

[Pib]

2 minutes ago, tutsiwarrior said:

 

I've only ever had one permanent address in the past 20 years and that has been in Thailand...the SSA application and the Bangkok Bank deposit account were opened with that address which includes both PO Box and physical address that I was able to establish with the US Embassy income verification letter for extension of stay purposes...correspondence from the SSA only has the PO Box address...I've never received any correspondence from Bangkok Bank...

Well, that is very interesting.  That kinda un-ends my theory of it being address related the way I described earlier...that is, a person only have a foreign address on file with SSA and no other address like a U.S. mail address.

 

My family member has an address setup the same way as you....that is, a physical/residential address here in Bangkok and an APO P.O. Box JUSMAG mailing address here in Bangkok.   All mailing come to the APO address and the member online account also reflects the APO address since only one address can be shown.   However, the family member's SSA payment is arriving in PPD format because we checked with Ms Suprtra also....setting right at her desk this week  while she showed us the printout of the family member SSA payment arriving in PPD format.  Then she showed us a some other redacted printouts of other folks receiving govt payments such as SSA where they were arriving in IAT format...some in PPD format...etc.  

 

For dual address folks....one foreign and one U.S.....maybe it simply boils down to which address the SSA rep uses to format your payment.   Or maybe it doesn't have anything to do with address.

[tutsiwarrior]

good old Ms Supatra...but also good on Pib for alerting us to what could be a mess for some of us in April next year...

 

 

[tutsiwarrior]

32 minutes ago, tutsiwarrior said:

good old Ms Supatra...but also good on Pib for alerting us to what could be a mess for some of us in April next year...

 

 

 

this will also affect others who regularly transfer funds to Thailand from US bank accounts (with a US home address on file for banking purposes) via Bangkok Bank NYC to an account in Thailand...the folks at the Silom HQ may not be able to help with those details; the US bank would need to be contacted to confirm the transfer arrangements...AFAIK what I've been discussing only applies to direct SSA transfers to Bangkok Bank NYC then to Thailand for which there is a special arrangement and the Silom branch has all the account details (see the bank's website re: SSA deposit accounts)...

 

 

 

 

 

[lopburi3]

12 hours ago, tutsiwarrior said:

the SSA application (in Manila)

As this is the proper method perhaps may have something to do with the use of proper IAT format?  Do not receive SSA so not that knowledgeable but understand if living in this area of the world you are supposed to use the Manila Office (rather than online or another office when visiting US or something).

[Pib]

2 hours ago, lopburi3 said:

As this is the proper method perhaps may have something to do with the use of proper IAT format?  Do not receive SSA so not that knowledgeable but understand if living in this area of the world you are supposed to use the Manila Office (rather than online or another office when visiting US or something).

My family member used/uses Manila...as mentioned the member's payment is in PPD format versus the IAT format.   Have asked/requested assistance from Manila regarding the issue...just crickets so far.

[coccigelus]

Hello,

 

I am new in this forum but I have been lurking around since 2012. I am a full time financial trader since I moved to Thailand and I am trading through Tradestation and IB. Since I became a Thai legal resident I have been using IB - US LLC branch . I thought to give a feed back of my experience on this topic as things to move funds from US to Thai are still really messy. 

So When I was still resident in Europe I was using the ACH transfer between IB - NY BKK bank which worked well. Lately, I had to change account at IB to reflect the change of legal residence and as many noted the ACH trasfer was blocked for new accounts because of the further IAT requirements. Since then, due to the new regulatory changes, I have used the wire method through the BKKBTHBBKXXX. That worked well till last month as to my great surprise today this method was all suddenly blocked at IB with a reporting error that the previous information was not still valid. I learned that speak with IB customer care is most of the time a huge waste of time so what I did was to cancel the old saved NY BKK account within the IB portal and try to fill out that information again. Using the wire method (not ACH), I was surprisingly forced to use the ABA number instead of the Swift code and I have been able to set up again and save the account information through NY BKK branch. I have then proceeded with a fund transfer which must be seen if It will work. But since ABA as far as I know is not belong to a wire rather to ACH protocol I am prone to think that the new IAT ACH that BKK bank is forcing us to use is nothing but a domestic "wire". I do not know how in US things works in detail but probably is possible for others which have issues to transfer funds informing their bank to use the wire method using the aba number rather than the swift code which I believe is cheaper.  Please someone correct me but ABA number is not supposed to be used with ACH only? I will report back how things are working on my end.  

[Pib]

Sounds like you possibly set up a "Domestic" Wire where the ABA routing number is used/required just as used required with an ACH transfer.

 

However, for an International Wire the SWIFT code of BKKBTHBKXXX or BKKBTHBK is used when transferring funds to your "in-Thailand" Bangkok Bank account.

 

Bangkok Bank "New York" also has a SWIFT code of BKKBUS33XXX to transfer funds to an account you would have at the NY branch but you would need to be a corporate/wholesale customer to have an account at their NY branch which is for corporate/wholesale customers only; not retail customers.   However, I have seen posts where people used the NY branch SWIFT code along with their in-Thailand bank account and the wire went through fine.

 

Also, in your post above you said BKKBTHBBKXXX which is incorrect/too long (got an extra B in it)....probably just a typo you made while posting.

 

 

 

 

[coccigelus]

Correct Pib. I have attached two pictures of the old/new saved accounts data at IB. 

 

Also FYI, I have been blocked at IB with the ACH method to the TW Borderless account citing the fact that TW borderless account is not a "true" account. However the transfer via SEPA to the German account remains opened although requires further currency conversion USD/EUR and EUR/THB . That does not make any sense, anyway this is the current situation. 

 

EDIT: Note that the old account information no longer valid, was advised by BKK bank NY branch via email not later than 2 months ago.

 

THX!

Edited September 28, 2018 by coccigelus

[Pib]

Expect Bangkok Bank may be tightening up on folks trying to use a Domestic Wire in sending money to their in-Thailand account.  Then again if you setup the wire as an "International" Wire I don't know what to say. 

 

Your first image above does not say what kind of wire, Domestic or Int'l.   Because you are using SWIFT codes it makes me thing in could have been setup as an Int'l Wire, but an Int'l Wire should be showing the "person's" address in Thailand vs the bank's address.  But maybe this image is just a summary of more detailed/extensive info you entered when setting up the wire.

 

And in the first image where it says Receiving Bank's Account with Correspondent Bank" you have the Bangkok Bank SWIFT code entered....I would think that maybe should be an account number.  But you said it worked before for transfers but not now which may be more indication of Bankgok Bank rejecting the wire vs IB just finding something wrong without even doing a transfer.  

 

Regarding Transferwise, I see a lot of reviews where people had problems using the borderless account....cause problems for them....either Transferwise shutting down their account due to suspicious flows into/out of the borderless account (not imply anything) or another bank rejecting the transfer.  Both the wife and I have Transferwise accounts and have done 7 transfers between our TW accouts to our Thailand bank accounts with no problems....but we don't have the borderless account option as we have no need for that....we are just doing basic transfers....that is, bank-to-TW-to-fund-the-transfer and then TW-to-Thai-bank.  No problem so far.

 

 

 

 

[coccigelus]

28 minutes ago, Pib said:

Expect Bangkok Bank may be tightening up on folks trying to use a Domestic Wire in sending money to their in-Thailand account.  Then again if you setup the wire as an "International" Wire I don't know what to say. 

 

Yes after further thoughts this is exactly my thinking as well. But the wire has already been sent so We must see. The transfer is domestic because I did directly to NY branch but using the wire protocol not ACH. Don't know what to expect.

 

Quote

 

Your first image above does not say what kind of wire, Domestic or Int'l.   Because you are using SWIFT codes it makes me thing in could have been setup as an Int'l Wire, but an Int'l Wire should be showing the "person's" address in Thailand vs the bank's address.  But maybe this image is just a summary of more detailed/extensive info you entered when setting up the wire.

 

That was international. 

 

Quote

 

And in the first image where it says Receiving Bank's Account with Correspondent Bank" you have the Bangkok Bank SWIFT code entered....I would think that maybe should be an account number.  But you said it worked before for transfers but not now which may be more indication of Bankgok Bank rejecting the wire vs IB just finding something wrong without even doing a transfer. 

 

 

 

Yes that is strange. I do not recall to have entered Swift code in that field - account number which is optional. Last time the transfer was successful though.  Anyway Today, I have been forced to use the domestic wire because the error reported using the old international saved account. Otherwise How am I supposed to send money to Thailand from my broker??

Quote

 

Regarding Transferwise, I see a lot of reviews where people had problems using the borderless account....cause problems for them....either Transferwise shutting down their account due to suspicious flows into/out of the borderless account (not imply anything) or another bank rejecting the transfer.  Both the wife and I have Transferwise accounts and have done 7 transfers between our TW accouts to our Thailand bank accounts with no problems....but we don't have the borderless account option as we have no need for that....we are just doing basic transfers....that is, bank-to-TW-to-fund-the-transfer and then TW-to-Thai-bank.  No problem so far.

 

Today, I did another wire to my US TW borderless account using the wire method and the dedicated wire number.  In this case I do not expect problem to receive the funds. It seems to me that US regulators are focusing especially on the ACH method. Not sure if the wire method that I have used for both my withdrawals have the necessary information that regulator expect to get. Also what I noted is that withdrawals are especially checked by US staff at IB rather then Swiss and HK headquarter. I think both withdrawals have been processed by the Swiss headquarter since in Us is overnight..

 

EDIT: This has been a transfer directed to my US account in USD dollar. The only change is from ACH which IB last time complained to wire method. Will see!

 

 

 

Edited September 28, 2018 by coccigelus

[JimGant]

Quote

The transfer is domestic because I did directly to NY branch but using the wire protocol not ACH. Don't know what to expect.

I did a domestic wire to Bangkok Bank NY, with the receiving account being our joint Bangkok Bank account in Thailand. The final result was the same as an ACH transfer. Did this just out of  curiosity as to whether or not it would work. See article 57 in this link:

 

 

[coccigelus]

8 minutes ago, JimGant said:

I did a domestic wire to Bangkok Bank NY, with the receiving account being our joint Bangkok Bank account in Thailand. The final result was the same as an ACH transfer. Did this just out of  curiosity as to whether or not it would work. See article 57 in this link:

 

 

 

Thank You Jim to have pointed that. It seems encouraging although in my case, and that seems to be different from Jingthing example, ACH method is currently banned because mine is a new account. But again, wire and ACH methods, are two different animals.  Time will tell .. 

[TallGuyJohninBKK]

19 minutes ago, JimGant said:

I did a domestic wire to Bangkok Bank NY, with the receiving account being our joint Bangkok Bank account in Thailand. The final result was the same as an ACH transfer. Did this just out of  curiosity as to whether or not it would work.

 

Thanks for that post, and successful adventure, Jim...

 

Indeed, I had raised earlier in this thread the notion of U.S. domestic wire transfers to BKKB NY being a possible replacement approach for the soon to end ACH transfers. But as you pointed out, the question is will BKKB NY continue accepting domestic wires for forwarding to Thailand AFTER the April change date for ACHs.

 

There certainly is more info required, even when doing a domestic wire, than there is in doing a domestic ACH. So perhaps that element will be enough. It certainly would be nice if someone in authority at either BKKB or BKKB NY would confirm how they're going to handle domestic wires being sent to the NY branch, now and for the future.

 

As your experience highlighted, unlike international wires, there seems to be quite a few different U.S. banking or brokerage accounts where free U.S. domestic wires are possible. So assuming that sending method survives April, it could end making things considerably easier for lots of folks.

 

[Thailand J]

8 hours ago, coccigelus said:

I did was to cancel the old saved NY BKK account within the IB portal and try to fill out that information again. Using the wire method (not ACH), I was surprisingly forced to use the ABA number instead of the Swift code and I have been able to set up again and save the account information through NY BKK branch. I have then proceeded with a fund transfer which must be seen if It will work. But since ABA as far as I know is not belong to a wire rather to ACH protocol I am prone to think that the new IAT ACH that BKK bank is forcing us to use is nothing but a domestic "wire". I do not know how in US things works in detail but probably is possible for others which have issues to transfer funds informing their bank to use the wire method using the aba number rather than the swift code which I believe is cheaper.  Please someone correct me but ABA number is not supposed to be used with ACH only? I will report back how things are working on my end.  

I have never used Bangkok Bank NY as the corresponding bank when I SWIfT transfered from US to Bangkok Bank Thailand to avoid domestic/international question.

I was afraid if I used it, then the transfer became domestic.

 

ABA is also used for domestic wires. When I go to Schwab website, they ask for SWIFT code for foreign transfers only. And on Fidelity bank wire form, SWIFT code is required for foreign banks only.

 

Can you set up SWIFT transfer to Bangkok Bank TH at IB using another corresponding bank? With my dumb luck I may be right..

 

 

Edited September 28, 2018 by Thailand J

[coccigelus]

Hello,

 

Yes the default corresponding bank is JPM. But I have been advised from NY BKK branch to use their "N.Y." swift code as corresponding bank which I think provides a better currency exchange than JPM along with some fee which were suggested in the IB's account manager if I was going to use JPM.  (~ 20 $  )

 

First good news: I just got credited the funds with TW borderless account using the wire transfer in USD. Must be seen if this method will be eventually blocked for future use at Ib as usually take a couple of weeks or so to be eventually blocked. 

Edited September 28, 2018 by coccigelus

[Thailand J]

$20 is too much.  Vanguard to KBank, HSBC did not charge as the correspondent bank. Vanguard to Bangkok Bank ,JPM $2.

 

9 hours ago, TallGuyJohninBKK said:

Indeed, I had raised earlier in this thread the notion of U.S. domestic wire transfers to BKKB NY being a possible replacement approach for the soon to end ACH transfers. But as you pointed out, the question is will BKKB NY continue accepting domestic wires for forwarding to Thailand AFTER the April change date for ACHs.

Can someone please ask Ms Supatra at the Silom BBK branch of Bangkok Bank ?

[coccigelus]

On 9/28/2018 at 2:18 PM, Thailand J said:

$20 is too much.  Vanguard to KBank, HSBC did not charge as the correspondent bank. Vanguard to Bangkok Bank ,JPM $2.

 

Can someone please ask Ms Supatra at the Silom BBK branch of Bangkok Bank ?

 

I want to give a follow up on my wire transfer. I just got credited today 63,879 THB from a wire of 2000$. Since I am not allowed to use ACH as explained earlier, that seems encouraging.  

[Thailand J]

Your money went into Bangkok Bank NY by domestic wire and arrived in Thailand. The question is will that work after April 1 2019 when ACH is replaced by IAT.

 

Nobody wants to ask Bangkok Bank?  ????

[PaulinSaphanKwai]

On 10/1/2018 at 7:23 PM, Thailand J said:

Your money went into Bangkok Bank NY by domestic wire and arrived in Thailand. The question is will that work after April 1 2019 when ACH is replaced by IAT.

 

Nobody wants to ask Bangkok Bank?  ????

See attached received in person from BBL Ass't Manager/Chiang Mai [Kat Sun Keaw branch].

 

 

[Pib]

25 minutes ago, PaulinSaphanKwai said:

See attached received in person from BBL Ass't Manager/Chiang Mai [Kat Sun Keaw branch].

 

And what was answer regarding "your" payment?  Did the branch look-up your payment to see if it was being received in IAT format?

[PaulinSaphanKwai]

2 hours ago, Pib said:

 

And what was answer regarding "your" payment?  Did the branch look-up your payment to see if it was being received in IAT format?

The Ass't Manager asked me to convey the three points of information to the SSA and suggested that was all that was needed.

 

I will contact SSA/Manila Monday to determine how best to do that. 

 

Paul/SK

[Pib]

33 minutes ago, PaulinSaphanKwai said:

The Ass't Manager asked me to convey the three points of information to the SSA and suggested that was all that was needed.

 

I will contact SSA/Manila Monday to determine how best to do that. 

 

Paul/SK

Good luck in getting an answer out of Manila. 

 

The POC on the 1 Oct 18 Bangkok Bank letter, Ms Phetchai told me to my face as I met with her, that HQ Bangkok Bank has also told all branches how to lookup your latest payment to tell you if your payment was received in IAT format or not.  Ms Phetchai confirmed my family member's payment was not in IAT format and showed me the printout....plus the family member was already on her list of accounts which were receiving U.S. govt payments that were "not" in IAT format.

 

And why would you want to contact SSA if your payment is already in IAT format...which it may or may not be....but Bangkok Bank can tell you if it's arriving in IAT format or not.  You also might want to call Ms Phetchai who can look up your info and give your a correct answer if you can't get your local branch to do it. 

 

Please give us some feedback on what you find out.  As you will see in earlier posts in this thread one person confirmed his payment is in IAT format and another person confirmed his/her's is not in IAT format.  Thanks.  

Edited October 5, 2018 by Pib

[PaulinSaphanKwai]

9 minutes ago, Pib said:

Good luck in getting an answer out of Manila. 

 

The POC on the 1 Oct 18 Bangkok Bank letter, Ms Phetchai told me to my face as I met with her, that HQ Bangkok Bank has also told all branches how to lookup your latest payment to tell you if your payment was received in IAT format or not.  Ms Phetchai confirmed my family member's payment was not in IAT format and showed me the printout....plus the family member was already on her list of accounts which were receiving U.S. govt payments that were "not" in IAT format.

 

And why would you want to contact SSA if your payment is already in IAT format...which it may or may not be....but Bangkok Bank can tell you if it's arriving in IAT format or not.  You also might want to call Ms Phetchai who can look up your info and give your a correct answer if you can't get your local branch to do it. 

 

Please give us some feedback on what you find out.  As you will see in earlier posts in this thread one person confirmed his payment is in IAT format and another person confirmed his/her's is not in IAT format.  Thanks.  

I will make that contact and let you know of the result.

 

Thanks for the info.

 

Paul/SK