When an "ACH transaction" flows thru Bangkok Bank NY they slice off a staircase type fee based on the amount they received.  Send then $3K for onward travel to your in-Thailand Bangkok Bank account and they slice off $10 and send $2990.  The $2990 arrives Thailand and the first thing that occurs is it converted to baht at the TT Buying Rate "and then" the 0.25% (Bt200 min, Bt500 max) fee is applied.  Both of these fees are applied before posting to your account and will not be reflected on your ibanking, statement, passbook, etc., which fools a lot of people thinking no fee was applied to their incoming ibanking ACH transfer, their incoming U.S. govt payment like SS, etc., but in fact the fees were applied.  However, the SMS does show the in-Thailand branch fee, but does not specifically show the NY branch fee other than the amount you sent being less by an amount based on their fee schedule. 

 

Below is the Bangkok Bank fee schedule for ACH transfers.  There is one typo below...where it say USD 100.1 that should be USD 100.01.   And please note since a lot people seem to send "around" $2000 if you go one penny over $2,000 then your NY branch fee jumps from $5 to $10.   If one person sent $2000 a $5 fee would be applied and $1995 continue on....but if sending 2000.01, a $10 fee would be applied and 1990.01 continue on.   In this example the person sending only one penny more ended up receiving $4.99 less than the other person because of the NY branch staircase type fee structure.

On 9/24/2018 at 3:33 PM, Pib said:

...   But I do know after my visit to Bangkok Bank today I know there are thousands receiving U.S. govt payments that will be in for a surprise come 1 Apr 19.

Bangkok Bank 1 Oct 18 Letter 

Bkk Bk 1Oct18 memo.pdf

I tried to get an answer from my smaller branch bank in Khon Kaen. She advised contacting someone at the main Khon Kaen Branch office to see if my SSA direct deposit is in the IAT format. If that doesn't work then I'll call Mrs. Petchai. Hopefully I am in the IAT format as I had to fill out the Direct Deposit form in Thailand. 

If I am not in IAT format, then somehow I'll have to get SSA to revise the direct deposit details. Manila will probably be of no help for that so I'll investigate how to make a change in general.

Will Mrs. Petchai be able to tell me unequivocally whether the depost from SSA is IAT or PPD? Thanks

 

On 9/24/2018 at 3:33 PM, Pib said:

 

 

 

 

 

 

 

 

 

On 10/13/2018 at 11:26 PM, avvocato said:

 

 

Any further updates on this?  I think the information in the before mentioned letter, if given to SSA will allow SSA to use IAT format for Bangkok Bank.  Does that sound correct and can anyone now confirm that SSA payments are now being done solely in IAT format?

... Different thought here.. sorry, but when dealing with Manila SSA is futile, what are the other options...

 

14 minutes ago, Rhys said:

... Different thought here.. sorry, but when dealing with Manila SSA is futile, what are the other options...

 

IF SOCIAL SECURITY IS USING IAT CODING, you open a Bangkok Bank account in Thailand and then give the SSA the Bangkok Bank NYC information.  If they don't use IAT coding, you have to resort to deposits in a US Bank or brokerage and do manual transfers. 

IDD for Thailand signup form now available, but still no details/signup instructions from Manila.