Major Change Eff 1 Apr 19 in Bangkok Bank ACH Transfers

[Somewhere In Time]

50 minutes ago, Pib said:

Based on Bkk Bk last stated line in the sand of 6 Sep for personal bank transfers if will be interesting to see what happens to ACH transfers initiated on 7 Sep and later.

Yes it will, indeed. 

 

Not surprisingly, I haven't received an answer yet from Lyn regarding whether 6 Sep is still firm, or if another date has been established.  Perhaps she volunteered too much info to me back on 16 Aug, and is being advised to throttle back.  Might they be reading this long-established thread, and did not like the 6 Sep date being posted here?  Perhaps.  Although if that is the case, why the big secret?  Just post the updated info on their website for all interested customers to read.  Simple.  Anyway, if I should receive an email tonight/tomorrow morning from Lyn or another POC in that office, will advise.

 

SIT    

[Pib]

I will not be surprised at all to see non-IAT bank transfers continue to get thru after 6 Sep especially since they will supposedly be allowing pension type payment from govt/private companies like Social Security continue until early Jan 2020....and it's probably hard for them being bankers to let this NY branch ACH relay fee-cow move on to greener pastures.   Will just need to wait and see if Bangkok Bank NY draws a new line in the sand without telling anyone they have.

[Somewhere In Time]

23 minutes ago, Pib said:

....and it's probably hard for them being bankers to let this NY branch ACH relay fee-cow move on to greener pastures.

Therein lies the secret.  Excellent point.

 

SIT

[albertik]

3 hours ago, Pib said:

Based on Bkk Bk last stated line in the sand of 6 Sep for personal bank transfers if will be interesting to see what happens to ACH transfers initiated on 7 Sep and later.

Be interesting to find out. I might initiate a BofA to Bkk New York for a trial run.  Checked today and their (BofA) fee was $3.

[albertik]

1 hour ago, Pib said:

I will not be surprised at all to see non-IAT bank transfers continue to get thru after 6 Sep especially since they will supposedly be allowing pension type payment from govt/private companies like Social Security continue until early Jan 2020....and it's probably hard for them being bankers to let this NY branch ACH relay fee-cow move on to greener pastures.   Will just need to wait and see if Bangkok Bank NY draws a new line in the sand without telling anyone they have.

Wow, just read your last post.

1st it was April 1 cutoff, then was July, moved on to Sep, and now you are talking about Jan. 2020.

But thanks for the heads up.   Can you source your Jan. 2020 info?

[Pib]

30 minutes ago, albertik said:

Wow, just read your last post.

1st it was April 1 cutoff, then was July, moved on to Sep, and now you are talking about Jan. 2020.

But thanks for the heads up.   Can you source your Jan. 2020 info?

The Jan 2020 date deals with govt/private pension transfers; not personal bank transfers which is 6 Sep 19....like you doing a transfer from BoA. 

 

See JimGant's 12 July post talking the Jan 2020 date for pensions.

 

 

[Somewhere In Time]

Monday, September 16, 2019 is now the new date.

 

Here is the email reply I received from Bangkok Bank New York Branch's Funds Transfer Officer, Ms. Arthlyn George (Lyn), early this morning:

 

Dear Mr

I apologize for my late response.

We received your last payment on Sept 3 2019 which is not in the IAT (International ACH Transaction) format.

Kindly request your bank to transfer funds to us by Fed Wire Transfer, not by the online  ACH  method, using our same routing number 026008691.

Effective September 16 2019, all ACH transfers that are not in the IAT format will be returned to the ordering banks.

Once again, we regret the inconvenience the change has caused you our valuable customer.

Best regards

Lyn

 

The wording in this reply is consistent with other email replies previously posted in this thread.

 

I replied with thanks, and to please inform me of any new date should the 16 Sep date again shift to the right.  I asked why the continual shift in the dates from from 1 Apr 19 to 1 Jun 19 to 1 Sep 19 to 6 Sep 19 to 16 Sep 19, opining the easiest solution to get the updated information out to all interested customers is to update their website. 

 

I should also note that Khun Sirivan Chuaypradit was a "cc" on Lyn's email to me and on my email reply.  Khun Sirivan is an Administrative Manager at Bangkok Bank's New York Branch, having been there since at least 2014.  Lyn has also been there since at least 2014 as Khun Sirivan's Funds Transfer Officer.

 

Hope this helps.

 

SIT

[TallGuyJohninBKK]

8 minutes ago, Somewhere In Time said:

Effective September 16 2019, all ACH transfers that are not in the IAT format will be returned to the ordering banks.

 

BKKB now has changed their deadline for the personal ACH transfer cutoff more times than they have do nothing vice presidents sitting around doing nothing except collecting salaries.

 

And yet, thru it all and even up through today, they've never even once updated their public website after originally long ago revising it to say they'd have a (now long passed) April 1, 2019 cutoff date.

 

Maybe they need instead to hire another website editor/manager....

 

 

[Alotoftravel]

May I correct , once ach is unavailable  , we will sent via domestic wire transfer to 

026008691 ? That will work per BKK email above to use fed wire transfer . What is is disadvantages if there are domestic fed wire transfer fee?

 

 

 

 

[Somewhere In Time]

Yes.  As discussed many times before in this thread from members such as Pib, TallGuyJohninBKK, JimGant, and others, domestic wire transfers (i.e. fed wires; fedwires; domestic fed wires) will add on an additional cost from your financial institution to have Bangkok Bank's NY Branch facilitate moving money to your Bangkok Bank account in Thailand, after the soon-to-be legacy online ACH transfer service (they continue to provide for many) finally stops.  Unless of course, your financial institution doesn't charge for a domestic wire.  But for most, an additional cost looms after September 16th (pending another date change), indeed. 

 

If you refer back to the Bangkok Bank NY Branch document shown in post #724 of this thread, you will see they refer to their 'ABA routing transit number' as their 'Fed Routing no. 026008691'.  Might help explain their use of the term "Fed Wire Transfer' in their email.

 

SIT 

[Berkshire]

On 9/7/2019 at 12:21 PM, Somewhere In Time said:

Monday, September 16, 2019 is now the new date.

 

Here is the email reply I received from Bangkok Bank New York Branch's Funds Transfer Officer, Ms. Arthlyn George (Lyn), early this morning:

 

Dear Mr

I apologize for my late response.

We received your last payment on Sept 3 2019 which is not in the IAT (International ACH Transaction) format.

Kindly request your bank to transfer funds to us by Fed Wire Transfer, not by the online  ACH  method, using our same routing number 026008691.

Effective September 16 2019, all ACH transfers that are not in the IAT format will be returned to the ordering banks.

Once again, we regret the inconvenience the change has caused you our valuable customer.

Best regards

Lyn

 

The wording in this reply is consistent with other email replies previously posted in this thread.

 

I replied with thanks, and to please inform me of any new date should the 16 Sep date again shift to the right.  I asked why the continual shift in the dates from from 1 Apr 19 to 1 Jun 19 to 1 Sep 19 to 6 Sep 19 to 16 Sep 19, opining the easiest solution to get the updated information out to all interested customers is to update their website. 

 

I should also note that Khun Sirivan Chuaypradit was a "cc" on Lyn's email to me and on my email reply.  Khun Sirivan is an Administrative Manager at Bangkok Bank's New York Branch, having been there since at least 2014.  Lyn has also been there since at least 2014 as Khun Sirivan's Funds Transfer Officer.

 

Hope this helps.

 

SIT

Based on your post, I decided to initiate a domestic ACH on 9 Sep and sure enough, it showed up in Thailand today 11 Sep.  As for the new deadline of 16 Sep...we'll see I guess.   

[PattayaDavid]

I had tried to do an ACH transfer from USAA to Bangkok Bank on August 25th, but the funds were returned the same day.  After reading the above post indicating that the ACH transfers had been extended to September 16th, I was going to attempt another transfer.  I signed into my USAA account to execute a transfer, but when I clicked on the pull down menu for the receiving bank, my Bangkok Bank account was gone, obviously USAA had deleting the account without contacting me, so much for making a transfer.  USAA is definitely non-compliant. 

[Pib]

41 minutes ago, PattayaDavid said:

I had tried to do an ACH transfer from USAA to Bangkok Bank on August 25th, but the funds were returned the same day.  After reading the above post indicating that the ACH transfers had been extended to September 16th, I was going to attempt another transfer.  I signed into my USAA account to execute a transfer, but when I clicked on the pull down menu for the receiving bank, my Bangkok Bank account was gone, obviously USAA had deleting the account without contacting me, so much for making a transfer.  USAA is definitely non-compliant. 

I have multiple Bangkok Bank ACH transfer links setup in my USAA ibanking.   I just checked and they are all still there.    Now, I haven't done an transfer to Bangkok Bank for around 6 months so maybe USAA deleted your Bangkok Bank transfer link due to the recent transfer rejection.  

[JimGant]

3 hours ago, Pib said:

I have multiple Bangkok Bank ACH transfer links setup in my USAA ibanking.   I just checked and they are all still there.    Now, I haven't done an transfer to Bangkok Bank for around 6 months so maybe USAA deleted your Bangkok Bank transfer link due to the recent transfer rejection.  

I too got a "return" from BB NY of my last attempt to ACH from USAA; and, yes, the account I attempted to send to is no longer available to send to. Bringing up the 'manage account' page shows this account is now labelled 'restricted,' with a yellow warning triangle stating "action required." The two other Bangkok Bank accounts I have set up, but to which I didn't attempt an ACH recently, are still available. Oh well.

[JDGRUEN]

Alternative method of Funds Transfer.. TransferWise. 

I believe I announced here that I formed a Facebook Group to help Expats use TW to move funds of 65K or 40K ("Retirement" or "Marriage) monthly to Thailand and reliably get labeled International Transfer and FTT encoded in the Bankbook. After 5 weeks there are 500+ members in this TW Users Group. 

After many tests transfers by members using a new Reason for Transfer Option..." Funds for Long Term Stay in Thailand - we found that if the destination bank is Bangkok Bank this combination works correctly 100% of the time. But only with Bangkok Bank - not with other Thai Banks. 

[skatewash]

53 minutes ago, JDGRUEN said:

Alternative method of Funds Transfer.. TransferWise. 

I believe I announced here that I formed a Facebook Group to help Expats use TW to move funds of 65K or 40K ("Retirement" or "Marriage) monthly to Thailand and reliably get labeled International Transfer and FTT encoded in the Bankbook. After 5 weeks there are 500+ members in this TW Users Group. 

After many tests transfers by members using a new Reason for Transfer Option..." Funds for Long Term Stay in Thailand - we found that if the destination bank is Bangkok Bank this combination works correctly 100% of the time. But only with Bangkok Bank - not with other Thai Banks. 

Why not explicitly give the name of the facrbook group rather than make people guess?

[pmarlin]

2 hours ago, skatewash said:

Why not explicitly give the name of the facrbook group rather than make people guess?

maybe this will help  Transferwise solutions. It was easy to find.

[Pib]

16 hours ago, JimGant said:

I too got a "return" from BB NY of my last attempt to ACH from USAA; and, yes, the account I attempted to send to is no longer available to send to. Bringing up the 'manage account' page shows this account is now labelled 'restricted,' with a yellow warning triangle stating "action required." The two other Bangkok Bank accounts I have set up, but to which I didn't attempt an ACH recently, are still available. Oh well.

Did USAA hit you up with any fee for the rejected transfer?

[JimGant]

2 hours ago, Pib said:

Did USAA hit you up with any fee for the rejected transfer?

No

[55Jay]

Visa Forex looked good enough for me this month so I put this, and Transferwise, on the shelf and did a 30k pull at Krungsi ATM, then dropped it in the BKK Bank ADM next door.  Trip down memory lane from the good old Aeon days.    

[Monomial]

ACH is still working for me as of Sep. 11. Just received an ACH transfer yesterday.

 

[JDGRUEN]

On 9/12/2019 at 8:02 AM, skatewash said:

Why not explicitly give the name of the facrbook group rather than make people guess?

I haven't posted the FB Group name because the typical response here on TVF is "I / We don't use Facebook". So it seemed rather a waste of time. So I just gave a a very condensed report of our success in getting around a serious problem that occurred in July. Numerous Expats got foreign originated fund transfers coded as Interbank via SMART or other code that equals 'Domestic Transfer' thus totally derailing (in the eyes of Thai Immigration) 9-10 months of successive 65K or 40K International - FTT labeled/encoded Transfers. Thai Immigration has used this to deny Annual Applications for an Extension of Stay. Only a few I/Os waived it. Assininity at its finest. 

 

While our testing of transfers has provided a solution of sorts to assuring correct labeling and encoding of International Transfers, our findings limit Expats to using Bangkok Bank. However, our members have been more than willing to switch without much complaint. 

 

*We have a second goal to make Thai Immigration very aware from top to bottom that... 'to date' all TransferWise funds transfers have been initiated abroad backed by a particular Expat's funds held in financial institutions in a Foreign country. Thus demonstrating that TW transfer pdf receipts should be given weight as evidence of an International Transfer along with Thai Banking Records (without the necessity of obtaining a FET Form - Foreign Exchange Transaction). 

Also that - the above should be the case regardless of the fact that TransferWise makes internal Thailand funds transfers between their partner banks. Bottomline all TransferWise funds transfers are International Funds transfers in regards to the Expat Customer. 

 

(* A tall order indeed - but who would have thought the Thai Immigration Chief would back down on the TM.30 issue). 

 

Go to TransferWise Solutions Group on FB. We bill ourselves as a Thailand TransferWise Users Group. 

 

 

[Pib]

Well, tomorrow/Monday is 16 Sep which was Bkk Bk's latest of numerous lines in the sand.  Will be interesting to see if ACH non-IAT format transfers "initiated" on and after 16 Sep actually do get rejected. 

 

If they don't get rejected that means the person's transfer was in IAT format but no one has been able to find a bank yet that uses IAT format for retail accounts.  Or, it means Bangkok Bank has a new unannouced line in the sand....the lure of fees is still too strong to completely shut the door.

 

And when I say find a bank that uses IAT format I mean the person actually contacted Bangkok Bank to ask if their transfer was in IAT format.  Everyone that has  done so has been basically told even though your transfer was not rejected it was not in IAT format since our new line in the sand has not been reached...please contract you bank to arrange for IAT format. 

 

It's really easy to determine if your bank uses IAT format because it would require a person to enter the recipient's name/full address/phone number during the transfer...pretty similar to what is asked on a wire transfer.  I sure know none of my banks/credit unions/brokerages ask for such info on an ACH transfer....they just want to know the routing number and acct number being sent to.

[PattayaDavid]

After my failed attempt of an ACH transfer to Bangkok Bank via USAA on August 25th, I decided to give it another try using a different account.  Last Thursday, September 12th, I initiated a standard ACH transfer from TD Ameritrade.  TD Ameritrade takes 2 to 3 business days to complete a transfer.  Anyway, I checked this morning, September 16th, and I received an SMS from Bangkok Bank that a deposit had been made.  I almost wish that the transfer had not gone through after the big drop in the dollar to baht exchange rate on Friday, dropped from around 30.64 to 30.28.  I see that the dollar has recovered somewhat this morning, but too late for me.

As others have said, it appears that only USAA has been turning back or cancelling transfer requests.  My transfer was deposited as of today, but who know going forward as today is supposed to be the latest drop dead date.

[Pib]

[mention=42517]pattayadavid[/mention]

 

To determine if your transfer was in IAT format give Bkk Bk a call in Bangkok....they can tell you within a few minutes. See this earlier 6 April post.

 

 

https://forum.thaivisa.com/index.php?/topic/1050250-Major-Change-Eff-1-Apr-19-in-Bangkok-Bank-ACH-Transfers&do=findComment&comment=14016860

 

 

[Somewhere In Time]

Yes indeed, today is "The Day"...the latest "line in the sand" for the good folks over at Bangkok Bank's New York Branch.

 

The past week came and went, without a peep in my inbox from either Lyn or Sirivan.  Might I or others hear back from them early this week with yet another date change to the right (...or for that matter, be able to view the updated information posted to their website ????...)?  Perhaps. 

 

Until then, the likely reason as to why it's approaching a nearly 6-month delay (w/the 4 latest date changes only provided in email replies to customer queries), tacitly is best summarized below:

 

"....and it's probably hard for them being bankers to let this NY branch ACH relay fee-cow move on to greener pastures."  (credit to 'Pib' post #752) 

"....the lure of fees is still too strong to completely shut the door."  (credit to 'Pib' post #773)

 

SIT

[skatewash]

16 minutes ago, Somewhere In Time said:

Yes indeed, today is "The Day"...the latest "line in the sand" for the good folks over at Bangkok Bank's New York Branch.

 

The past week came and went, without a peep in my inbox from either Lyn or Sirivan.  Might I or others hear back from them early this week with yet another date change to the right (...or for that matter, be able to view the updated information posted to their website ????...)?  Perhaps. 

 

Until then, the likely reason as to why it's approaching a nearly 6-month delay (w/the 4 latest date changes only provided in email replies to customer queries), tacitly is best summarized below:

 

"....and it's probably hard for them being bankers to let this NY branch ACH relay fee-cow move on to greener pastures."  (credit to 'Pib' post #752) 

"....the lure of fees is still too strong to completely shut the door."  (credit to 'Pib' post #773)

 

SIT

Or maybe the party responsible for the moving deadlines is the US Government.  After all, if not for a change in US Government enforcement Bangkok Bank would not have chosen to discontinue this service.  Since I have not seen any official announcement from the US Government I can imagine that discussion between them and Bangkok Bank is not finalized.  Perhaps, because consumer banks have not stepped up to offering the IAT format for ACH transfers the US Government has agreed to extensions of this service.  I don't think we know what's going on behind the scenes.  We may never know.  We only see what Bangkok Bank allows by doing the actual transfers and seeing the result.

Personally, I don't blame Bangkok Bank for any of this and I'm grateful that they were clever enough to exploit the loophole for as long as it lasts (or lasted as the case may be).

[Somewhere In Time]

Perhaps.  Good thoughts 'skatewash'. 

 

And yes, they certainly have been accommodating/clever to continue to exploit whatever loophole may have existed/or still exists today, for most of their customers.  

 

Their obvious website neglect since April 1st however, gets an F. 

 

Bangkok Bank's New York Branch has been very accommodating in answering my specific email queries over the past month.  Very pleased with their forthright answers to date.  Now, will they eventually respond to my Sep 7th email, in which I ask for the reason why the many date changes since April 1st, and to let me know if Sep 16th slides again?  We shall see -- will advise if anything is received.

 

SIT          

[JDGRUEN]

I don't understand the manic addiction to trying to wring out the last ACH transfer via B.B.- NY. 

The time to move on is way over due. There are several alternatives that are working. Waiting for IAT to be embraced by retail American Banks seems to be another way to measure your beard growth. 

[soisanuk]

15 hours ago, Somewhere In Time said:

Perhaps.  Good thoughts 'skatewash'. 

 

And yes, they certainly have been accommodating/clever to continue to exploit whatever loophole may have existed/or still exists today, for most of their customers.  

 

Their obvious website neglect since April 1st however, gets an F. 

 

Bangkok Bank's New York Branch has been very accommodating in answering my specific email queries over the past month.  Very pleased with their forthright answers to date.  Now, will they eventually respond to my Sep 7th email, in which I ask for the reason why the many date changes since April 1st, and to let me know if Sep 16th slides again?  We shall see -- will advise if anything is received.

 

SIT          

Actually, the rule regarding use of the IAT when the ultimate destination was outside of USA was implemented by the ACH system in 2009 to comply with US money laundering laws.  Apparently Bangkok Bank did not comply when the rule came out, but was "caught" and told to comply - thus their webpage which covers not only the first deadline of 1 April 2019 for those with existing NY Branch transfers already set up (previously did the two deposit linking process) - it also provides instructions which did go into effect for setting up the process (new) which does require using the IAT format.  Since not following the requirement could jeopardize Bangkok Bank's NY Branch participation in the ACH system, it appears they did receive a dispensation on enforcement until April 1 -- an then have gotten it for the subsequent extensions -- BUT, at some point the ACH regulatory institution is bound to cease approving any more extensions and Bangkok Bank NY Branch will then be forced to stop accepting them unless in the IAT format.