Major Change Eff 1 Apr 19 in Bangkok Bank ACH Transfers

[bkkrooftop]

This has continued to be an ongoing problem for me for a bit. 

[Suradit69]

1 hour ago, Pib said:

You do not need to use an intermediary SWIFT/BIC code when sending from your U.S. bank to Bangkok Bank. 

I'll be doing the transfers from my brokerage account and on the form they "require" the name of a correspondent bank and its SWIFT code. I assume since Bangkok has a presence in the US, the NY branch acts in lieu of a US correspondent bank. Otherwise I don't know what to put in the "required" space for correspondent bank and SWIFT code.

 

Hopefully the people who manage international transfers at my broker will manage to sort it out.  Once I FedEX the form to my broker, I'll give it a trial run to see what happens.

 

I notice that Transferwise shows that SWIFT code for Bangkok Bank NY.

 

[Suradit69]

1 hour ago, connda said:

What brokerage?  Also, did your brokerage give you any problems considering that you are sending money from a domestic account in your name to a foreign account that is also in your name?  And what are you using for the "Reason for the transfer"? 

Vanguard.

 

I think sending to an account with my name on it wouldn't be a problem. I also have been using Vanguard to transfer money to Bangkok Bank NY for years and both sending and receiving accounts have my name.

 

Haven't been asked for reason. If I am, it would be "living expenses." The form includes a statement regarding my citizenship and tax status, the content of which I agree with by signing the form.

 

Just received the form they require to add a foreign bank to my bank transfer list. Will need to get my signature guaranteed by a US consular officer and then I'll return it. Once the dust settles, I'll give it a test run before the 1 April 2019 deadline just to make sure it works well.

 

Many years ago I did a one-off transfer from Vanguard to my Bangkok Bank account when I was buying my condo. Never filled in any forms with Vanguard, just asked them to do it and they managed without any problem.

 

I know there are other people who have sent money to Bangkok Bank from Vanguard without using the domestic transfer via the NY branch, so I imagine Vanguard knows what to do.

 

 

 

 

 

 

 

 

Edited July 28, 2018 by Suradit69

[TallGuyJohninBKK]

4 hours ago, mahjongguy said:

- It can be difficult to set up a SWIFT transfer at a bank without appearing in person the first time. Those who don't plan to visit the U.S. before April should investigate brokerages; some of them will set up (and activate) SWIFT transfers online, sometimes at no charge.   

 

On the U.S. end of things, I think it's easier to find financial institutions that will offer free or low cost DOMESTIC wire transfers vs. international wire transfers.

 

So, under the post April 2019 scenario, one of the things I'm interested to find out is will BKKB NY accept domestic wires to its NY SWIFT code (not the TH SWIFT code for BKKB TH) and then forward those funds onward to Thailand to the forwarding BKKB account you indicate in the wire instructions?

 

Has anyone here ever done a domestic wire to BKKB NY using their BKKBUS33  Swift code and what was the result of that?  AFAICT, a domestic wire has the potential to include all the same kind of sender/recipient info as in the supposed International ACT Transaction (IAT).

 

That could well be a more viable approach vs. the apparently non-viable IAT transfers that BKKB is suggesting. But whether domestic wire transfer forwarding is OK these days whereas domestic ACH forwarding is not remains an open question, AFAIK.

 

 

[TallGuyJohninBKK]

1 hour ago, Suradit69 said:

Vanguard.

 

I think sending to an account with my name on it wouldn't be a problem. I also have been using Vanguard to transfer money to Bangkok Bank NY for years and both sending and receiving accounts have my name.

 

Haven't been asked for reason. If I am, it would be "living expenses." The form includes a statement regarding my citizenship and tax status, the content of which I agree with by signing the form.

 

Just received the form they require to add a foreign bank to my bank transfer list. Will need to get my signature guaranteed by a US consular officer and then I'll return it. Once the dust settles, I'll give it a test run before the 1 April 2019 deadline just to make sure it works well.

 

Many years ago I did a one-off transfer from Vanguard to my Bangkok Bank account when I was buying my condo. Never filled in any forms with Vanguard, just asked them to do it and they managed without any problem.

 

I know there are other people who have sent money to Bangkok Bank from Vanguard without using the domestic transfer via the NY branch, so I imagine Vanguard knows what to do.

 

Suradit, I'm interested in, but also confused by, your post above.

 

Because, you're often talking generically about transfers, but not always clear whether you mean to the NY branch or direct to BKKB Thailand. And also not always clear in the past were you talking about domestic wire transfers or the soon to die BKKB NY ACH domestic transfers system from Vanguard.

 

Could you perhaps be a bit more specific and clear in what transfer methods you're talking about, and in any specific case, whether that was aimed at BKKB NY or direct to BKKB TH.

 

Thanks!

 

 

Edited July 28, 2018 by TallGuyJohninBKK

[TallGuyJohninBKK]

3 hours ago, Pib said:

 And the BKKBUS33 New Branch SWIFT should only be used if your were sending money to be posted to a corporate account you have with their NY branch.

 

Pib, I'm catching up with the thread posts from overnight/ this morning.

 

So I'm curious, what's your basis for believing that the BKKB NY Swift code cannot be used as a potential route for sending domestic wire transfer funds onward from NY to one's Thai BKKB account?

[Pib]

Can sure give it a try...they may indeed relay it along to Thailand although it's not the specific code Bangkok Bank states to use for transfers to Thailand.

[TallGuyJohninBKK]

12 minutes ago, Pib said:

Can sure give it a try...they may indeed relay it along to Thailand although it's not the specific code Bangkok Bank states to use for transfers to Thailand.

 

Just to recap, BKKB TH has its Swift code -- BKKBTHBK

 

And BKKB NY has its own Swift code -- BKKBUS33

 

IF, and I repeat IF, the BKKB NY Branch would accept transfers to its NY Swift code with forwarding instructions onward to one's BKKB TH account, that would allow U.S. folks to do less expensive or free domestic wires vs. usually more expensive international wires.

 

The question, however, is will BKKB NY accept U.S. domestic wires to its own Swift code for forwarding onward to specific BKKB TH accounts as designated in the wire instructions?

 

Was asking if anyone here has ever tried that? And/or, would be worth trying to get an answer to that ? from the New York branch directly, though they're not much on answering the phone or responding to emails.

 

 

[mackayae]

What brought about this change?

[TallGuyJohninBKK]

10 minutes ago, mackayae said:

What brought about this change?

 

Compliance with U.S. banking regulators requirements about banks having to provide certain identifying info re the senders and recipients of international funds transfers to combat crime, money laundering, etc etc.

 

But why the axe is falling exactly NOW on BKKB's NY ACH transfers system after having operated for many years, I don't think we really know, and the bank hasn't said.

 

[Suradit69]

1 hour ago, TallGuyJohninBKK said:

Because, you're often talking generically about transfers, but not always clear whether you mean to the NY branch or direct to BKKB Thailand. And also not always clear in the past were you talking about domestic wire transfers or the soon to die BKKB NY ACH domestic transfers system from Vanguard.

I have been doing transfers to the NY branch of Bangkok Bank which were eventually credited to my Bangkok Bank account here in Thailand. Since those transfers were done from a US financial institution to Bangkok Bank in NY, those were considered domestic transfers as far as my sending bank or brokerage were concerned. They resulted in baht going into my Thai bank, but the transfers I initiated were domestic transfers as far as the sending bank or brokerage were concerned.

 

What I am now exploring is having Vanguard make an international transfer using the SWIFT code which they consider an international transfer. Whether that would still involve the Bangkok Branch in NY, I have no idea. Vanguard wants to know the name and SWIFT code for a US correspondent bank. I haven't been able to find any US correspondent bank with my Internet searches. They all seem to end up referring to Bangkok Bank NY.

 

I did send an email to the NY branch asking who I could indicate as a US correspondent bank, but don't know if or when I'll hear from them.

 

Quite a few years ago, when I bought a condo, I asked Vanguard to send some money to my Thai bank account. They did, but I have no idea what process they used. I think I gave them the Thai SWIFT code but really can't remember. I just contacted a Vanguard rep and explained what I wanted to accomplish and they did it. Simpler times back then.

[TallGuyJohninBKK]

1 minute ago, Suradit69 said:

I have been doing transfers to the NY branch of Bangkok Bank which were eventually credited to my Bangkok Bank account here in Thailand. Since those transfers were done from a US financial institution to Bangkok Bank in NY, those were considered domestic transfers as far as my sending bank or brokerage were concerned. They resulted in baht going into my Thai bank, but the transfers I initiated were domestic transfers as far as the sending bank or brokerage were concerned.

 

 

Thanks... What I was trying to get you to clarify re your comment above about past transfers to the BKKB NY branch was -- are you talking about having done the typical domestic ACH transfers to BKKB NY en route to Thailand (the kind that soon will be ending), OR, are you talking about having done past domestic wire transfers to BKKB NY and onward to Thailand.  And if the latter, what Swift code were you using?

 

[mackayae]

32 minutes ago, TallGuyJohninBKK said:

 

Compliance with U.S. banking regulators requirements about banks having to provide certain identifying info re the senders and recipients of international funds transfers to combat crime, money laundering, etc etc.

 

But why the axe is falling exactly NOW on BKKB's NY ACH transfers system after having operated for many years, I don't think we really know, and the bank hasn't said.

 

Maybe it is a result of a class action suit brought against Bangkok Bank NY.

[NanLaew]

23 minutes ago, TallGuyJohninBKK said:

 

Compliance with U.S. banking regulators requirements about banks having to provide certain identifying info re the senders and recipients of international funds transfers to combat crime, money laundering, etc etc.

 

But why the axe is falling exactly NOW on BKKB's NY ACH transfers system after having operated for many years, I don't think we really know, and the bank hasn't said.

 

From BBL wesbite:

 

The following step-by-step instructions are available:
Advice to senders using US bank internet banking services
If you have a U.S. bank account, you can conveniently transfer funds to a recipient's bank account at Bangkok Bank in Thailand via the internet by completing the steps described below for an international ACH transaction (IAT). International ACH payments are processed in accordance with operating rules and formats developed by the Electronic Payments Association (NACHA).
The IAT is a special code (a Standard Entry Class or “SEC” Code) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to perform screening to ensure compliance with Office of Foreign Assets Control (OFAC, U.S. Department of the Treasury) requirements. The NACHA rules require Bangkok Bank’s New York Branch which serves as intermediary, to ensure that payments that are transmitted to account of beneficiary in other country are appropriately classified as IATs and contain information as described below. 
Bangkok Bank, New York Branch, is required to receive the ACH transactions in the required IAT format. This means that we must require that senders who wish to transmit funds to recipients at Bangkok Bank in Thailand to provide certain identifying information.
Instructions 
To initiate a such an international transaction , using internet banking when you log on to your bank in U.S. website, please select the International ACH and provide the following information to your bank:
1.Your name and physical address in Thailand;
2.Your bank account number and the name and address of your Bangkok Bank Branch in Thailand; and
3.The 9-digit routing number 026008691 of Bangkok Bank New York Branch, which acts as intermediary in the transaction. 
Important Note: 
•As some bank in U.S. may not provide the International ACH thorough their internet banking, please contact your bank on how to process your transfer.
•Once Bangkok Bank’s New York branch receives the payment with the appropriate IAT format, they will process your payment to Bangkok Bank in Thailand for further credit to a recipient's bank account at Bangkok Bank in Thailand.
•With effective from April 1, 2019, New York branch only process ACH with appropriate IAT format and all non-IAT transactions will be returned. 
•Bangkok Bank in Thailand will be able to credit the recipient’s account in Thailand only when the name and account number of the recipient in your transfer instruction from the banks in the U.S. matches the recipient’s name and account number at Bangkok Bank.

 

I appears the basic difference between the existing BBL NY/BBL TH ACH transaction and the 'new improved and OFAC enforced "International ACH Transaction" (IAT) is that parties must divulge both their name and residential addresses in Thailand and the name and address of the branch that the Thai bank account is held at.

 

I am sure all banks have to be compliant by 1st April 2019 and individual banks will have their own procedures and time frame for implementation and compliance. Nothing sinister in this taking place at BBL at the current time IMHO.

[Suradit69]

2 minutes ago, TallGuyJohninBKK said:

are you talking about having done the typical domestic ACH transfers to BKKB NY en route to Thailand (the kind that soon will be ending)

Yes. I supplied the sending bank only the ACH for the NY branch.

 

What I am hoping to do is to initiate an international transfer by supplying the sending bank the Bangkok Bank SWIFT code used in transfers. Whether or not the slight change in process will work, I don't know. It seems hard to believe that no viable method will exist for individuals to send money from the US to Thailand.

 

The suggestion made by some is that Transferwise is above the fray and a better choice, but it seems they use the SWIFT code from the NY branch of Bangkok Bank, so I'm not sure why they wouldn't face the same problem. 

 

 

 

 

 

 

[Pib]

3 hours ago, Suradit69 said:

I'll be doing the transfers from my brokerage account and on the form they "require" the name of a correspondent bank and its SWIFT code. I assume since Bangkok has a presence in the US, the NY branch acts in lieu of a US correspondent bank. Otherwise I don't know what to put in the "required" space for correspondent bank and SWIFT code.

 

Hopefully the people who manage international transfers at my broker will manage to sort it out.  Once I FedEX the form to my broker, I'll give it a trial run to see what happens.

 

I notice that Transferwise shows that SWIFT code for Bangkok Bank NY.

 

 

Keep in mind where were using the search function in Transferwise down at the bottom of the "main public page" which I think you used to get above info,  it allows you to see "all" SWIFT codes worldwide.  When searching for Bangkok Bank you can find multiple SWIFT codes which represent different branches/department in and outside Thailand.  Where the last 3 digits are different to clearly identify which branch/department they are meant for. 

 

Above means your funds would be for deposited in an account at the New York branch.  For Transferwise that is their end delivery point because you told them that is your end delivery point.....they have finished delivery of your money assuming the New York branch accepted it....and that's a big assumption.    If the NY branch accepted your money they now need to move it on to Thailand.  Who's going to do that?  Transferwise is done with the delivery...they delivered to the NY branch.....so I guess a person would have to hope the NY branch would see you meant to have it delivered to a branch in Thailand....would the NY branch then continue on with the transfer....and with no additional fees?...I don't know.

 

Now when you are actually logged into your Transferwise account filling out the recipient details you want the money to go to....that is the USD to THB....when I enter the Bangkok Bank name it only offers me one SWIFT code choice which is main Bangkok Bank in Bangkok....see below....and the SWIFT code below matches exactly what the Bangkok Bank webpage tells you to use.   That tells me that Transferwise sees I'm trying to move money from a U.S. bank and "it needs to go to another country" such as Thailand (it don't need to  stay in the U.S. by just being transferred to New York)  so Transferwise has their database setup to ensure the correct SWIFT code is used so they can deliver the money to your Thailand bank account.

 

 

 

 

 

[Suradit69]

7 minutes ago, NanLaew said:

Thailand and the name and address of the branch that the Thai bank account is held at.

Well, the form I'm using with Vanguard includes a place to give my local details in Thailand as the "beneficiary" of the transfer, so possibly inclusion of that information will cover that requirement.

[Pib]

1 hour ago, TallGuyJohninBKK said:

 

Pib, I'm catching up with the thread posts from overnight/ this morning.

 

So I'm curious, what's your basis for believing that the BKKB NY Swift code cannot be used as a potential route for sending domestic wire transfer funds onward from NY to one's Thai BKKB account?

 

1 hour ago, Pib said:

Can sure give it a try...they may indeed relay it along to Thailand although it's not the specific code Bangkok Bank states to use for transfers to Thailand.

 

Now back to my computer keyboard where all my fingers can type vs just using my two thumbs on my smartphone. 

 

With more fingers working now I just wanted to add, can you even use a SWIFT/BIC code in a U.S. "domestic" wire or must you use a ABA routing number since you are just moving dollars within the U.S. with a domestic transfer?

 

And is the screen/info to fill out for a domestic wire identical to an international wire?   There would definitely be some underlying coding that would be different...coding that gets thrown in automatically based on the info you enter.

 

 

[TallGuyJohninBKK]

10 minutes ago, Pib said:

With more fingers working now I just wanted to add, can you even use a SWIFT/BIC code in a U.S. "domestic" wire or must you use a ABA routing number since you are just moving dollars within the U.S. with a domestic transfer?

 

 

That's a good question, Pib. That I can answer, but still perhaps with some light at the end of the tunnel. I was playing around with this yesterday, and went back again just now and repeated it again.

 

You are correct. When I bring up the domestic wire transfer screen on one of my brokerage accounts, the only routing info it will accept is ABA digits -- not Swift code letters.

 

HOWEVER, when I then switch to the setting for International wires, and enter the BKKB NY Swift code as the recipient and the account holder and location as Thailand, the system accepts that, AND shows a $0.00 fee.

 

Then, when I switch the Swift code in the International wires section to the code for BKKB Thailand, and the receiving account and destination still has Thailand, the fee amount automatically changes to $25.

 

But then when I stay in the International Wires section, change the Swift code back to BKKB NY with the recipient account and destination in Thailand, the fee amount changes back to $0.00.

 

I'm not quite sure what to make of that, but it is intriguing.

 

 

 

[Suradit69]

27 minutes ago, Pib said:

With more fingers working now I just wanted to add, can you even use a SWIFT/BIC code in a U.S. "domestic" wire or must you use a ABA routing number since you are just moving dollars within the U.S. with a domestic transfer?

 

And is the screen/info to fill out for a domestic wire identical to an international wire?   There would definitely be some underlying coding that would be different...coding that gets thrown in automatically based on the info you enter.

All I can contribute to that is based on what I used for transfers and what information I'm using on the application to do an international transfer.

 

The transfers I have been making specifically to Bangkok Bank NY only required their ABA routing code and my account number. No reference to the SWIFT code was asked for. In that respect it was no different from transferring money from Vanguard to my Bank of America account in Chicago.

 

The form I am filling out now for doing an international transfer does not ask for any ABA routing number. It only asks for the SWIFT code for Bangkok Bank in Thailand ... and it requires that I supply the name of Bangkok Bank's US correspondent bank and that SWIFT code.

 

I don't know if that ends up a distinction without a difference.

 

edit: more or less what Tallguy posted at the same time.

 

 

 

Edited July 28, 2018 by Suradit69

[TallGuyJohninBKK]

BTW, somewhat to my surprise, I just got an email response from the BKKB NY help desk today to an email I sent them yesterday asking if they could provide the name(s) of ANY U.S. banks that support IAT transfers via their consumer online banking.

 

Their response below probably tells you what I had already been told, that BKKB NY pretty much has known for quite some time that their suggested IAT transfers are likely to be a non-starter for U.S. consumer account holders.

 

Quote

 

Sorry that we don’t have the list of bank that support  IAT. You can check with your bank in the US.

You can request your US bank to do International Wire Transfer to your account in Bangkok by provide them with our Bangkok Bank Thailand SWIFT CODE “ BKKBTH BK” together with account name account number and the account holder complete address .

 

 

BTW, in my email to them, I didn't ask about or mention international wire transfers at all. The BKKB NY Help Desk, for whatever reason, decided to add that as their own suggestion to me. And I'm guessing the reason why is obvious.

[Pib]

24 minutes ago, NanLaew said:

I am sure all banks have to be compliant by 1st April 2019 and individual banks will have their own procedures and time frame for implementation and compliance. Nothing sinister in this taking place at BBL at the current time IMHO.

Can't speak to why Bangkok Bank is using 1 Apr 19 for the door closing, but I do know IAT has been in use since around 2009 but its primarily used by corporate accounts for international payment of good/services, payroll, etc.

 

IAT is not offered in any "retail" bank account that I'm aware of like you and I would have where only Domestic ACH, Domestic Wire, and International Wire is offered.  The ACH transfer offering in a retail account is geared purely to the transfer of funds between banks in the U.S. (and maybe Mexica and Canada); not transfer of funds between countries. 

 

When we sent a Domestic ACH transfer to the Bangkok Bank "New York" branch routing number our Sending bank has no idea that the New York branch was moving the money on to Thailand.  Nothing illegal in what Bangkok Bank was doing as it was also occurring at other U.S. banks for various types of transfers that involved foreign funding or movement to foreign countries....but the U.S. Treasury has been slowly closing many loopholes since 2009 and I guess the loophole Bangkok Bank was using is now closing also.

 

Below 2009 documents/snapshot address outbound IAT and a Domestic IAT.  See the notes at the bottom of the 1st snapshot explaining what a Domestic IAT is....not to be confused with a Domestic ACH like we have been using to get money to the New York branch.   And below examples appears to be dealing with a payroll payment.

 

[TallGuyJohninBKK]

Just now, Suradit69 said:

All I can contribute to that is based on what I used for transfers and what information I'm using on the application to do an international transfer.

 

The transfers I have been making specifically to Bangkok Bank NY only required their ABA routing code and my account number. No reference to the SWIFT code was asked for. In that respect it was no different from transferring money from Vanguard to my Bank of America account in Chicago.

 

The form I am filling out now for doing an international transfer does not ask for any ABA routing number. It only asks for the SWIFT code for Bangkok Bank in Thailand ... and it requires that I supply the name of Bangkok Bank's US correspondent bank and that SWIFT code.

 

I don't know if that ends up a distinction without a difference.

 

edit: more or less what Tallguy posted at the same time.

 

Thanks, that clarifies everything perfectly.

 

So, the transfers you have/had been doing to BKKB NY were in fact via their regular domestic ACH system that forwards the funds onward to Thailand. That's the system that's ending 4/1/19, and all it required was the NY branch ABA number and your Thai BKKB account #.

 

What you're pursuing now via Vanguard is a regular international wire transfer link that asks for BKKB TH''s Swift code.

 

It's a pretty big difference in that the first method soon will be dead and gone, and the second one has been available all along and still will be in the future. Unlike most folks, you're in the good position of having a Vanguard account that has a very low fee for international wire transfers.

 

[Suradit69]

1 minute ago, TallGuyJohninBKK said:

You can request your US bank to do International Wire Transfer to your account in Bangkok by provide them with our Bangkok Bank Thailand SWIFT CODE “ BKKBTH BK” together with account name account number and the account holder complete address .

 

Assuming the person who wrote that has a clue, that does seem to suggest that initiating  an international transfer using a SWIFT code may be a work around.

 

I'm sure the NY branch would prefer they keep receiving deposits as an intermediary since that service probably supports a job or two.

[Suradit69]

6 minutes ago, TallGuyJohninBKK said:

 

Thanks, that clarifies everything perfectly.

 

So, the transfers you have/had been doing to BKKB NY were in fact via their regular domestic ACH system that forwards the funds onward to Thailand. That's the system that's ending 4/1/19, and all it required was the NY branch ABA number and your Thai BKKB account #.

 

What you're pursuing now via Vanguard is a regular international wire transfer link that asks for BKKB TH''s Swift code.

 

It's a pretty big difference in that the first method soon will be dead and gone, and the second one has been available all along and still will be in the future. Unlike most folks, you're in the good position of having a Vanguard account that has a very low fee for international wire transfers.

 

Yes your interpretation of what I have done and what I hope to do is correct.

 

Yes, Vanguard shows a charge of $10, but then the NY branch of Bangkok Bank had been charging $5  for my transfers (occasionally I think $10 for larger amounts). 

 

 

Edited July 28, 2018 by Suradit69

[TallGuyJohninBKK]

Just now, Suradit69 said:

 

Assuming the person who wrote that has a clue, that does seem to suggest that initiating  an international transfer using a SWIFT code may be a work around.

 

I'm sure the NY branch would prefer they keep receiving deposits as an intermediary since that service probably supports a job or two.

 

I'm not following you in terms of your "work around" comment.

 

Basically, the NY Help Desk was just saying, you can send a regular international wire to BKKB TH using their own Swift code. That's always been available, AFAIK.

 

When I enter BKKBTHBK (the Swift code for BKKB TH) into my International Wires sending info at my brokerage, it accepts that without any other routing info required. Including, no need or mention of having to go thru any corresponding bank in the U.S. or elsewhere.

 

[TallGuyJohninBKK]

Just now, Suradit69 said:

Yes, Vanguard shows a charge of $10, but then the NY branch of Bangkok Bank had been charging $5  for my transfers (occasionally I think $10 for larger amounts). 

 

 

The BKKB NY branch has long had a sliding scale fee for their handling of domestic ACH transfers -- the system that will die this coming April -- that can be $5 or $10 at their end.

 

Once you start doing international wire transfers direct to BKKBTHBK (BKKB TH), those shouldn't incur any fee by BKKB NY -- just the sending fee from Vanguard, and the receiving fee on the BKKB TH end, 0.25% capped at between 200 and 500 baht.

 

[Suradit69]

1 minute ago, TallGuyJohninBKK said:

 

I'm not following you in terms of your "work around" comment.

 

Basically, the NY Help Desk was just saying, you can send a regular international wire to BKKB TH using their own Swift code. That's always been available, AFAIK.

 

When I enter BKKBTHBK (the Swift code for BKKB TH) into my International Wires sending info at my brokerage, it accepts that without any other routing info required. Including, no need or mention of having to go thru any corresponding bank in the U.S. or elsewhere.

 

 

"I'm not following you in terms of your "work around" comment."

 

I just meant that for those of us scrambling to find a way to deal  with the end of  the service we've been using for many years, this is a solution   ... hopefully.

 

 

[TallGuyJohninBKK]

Since I actually, finally got an email response from the NY Branch, just fyi for others here, I've gone ahead and sent a follow-up reply to them asking --

 

If someone were to send a wire transfer to your BKKBUS33 BKKB NY Swift code along with the sender's full BKKB Thailand account number (branch + account #), would those funds be successfully sent onward to the person's BKKB TH account?

 

Be interested to see if they answer, and what that answer might be....

 

[Pib]

Sure....using SWIFT (Int'l Wire) has always worked fine and will continue to work fine to transfer money to your Bangkok Bank account in Thailand.

 

It's just Int'l wire is more pricey and generally not as easy as ACH.  "By generally not as easy" I mean many banks/credit unions do not provide capability from within their ibanking to initiate the Wire.  Instead you must contact them via phone, mail/fax-in of a form, etc.,  to initiated the Wire.   

 

However, many do offer the wire capability within their ibanking and that's a good thing.