U.S. Social Security International Direct Deposit (IDD) Update

[Kwarium]

Yes, that doc. Sorry, it was this thread:

 

I wonder how many of those 633 got information here? When it’s not 2020, I frequently visit family in the US. Hoping to again in 2021, but it’s not looking great.

 

Cheers!

 

 

[claynlr]

Hello gentlemen-

 

I applied for SS on July 1 on “my social security” account. It is being reviewed and is on step 2 of 3, as I just checked the status online. It is being reviewed by the Baltimore office for approval.

 

I was going to use my US address but changed to my Thai address because of some wording on the application about not being in the States for 30 continuous days. My benefits will go into my US Schwab account.

 

Do you think Manila will have to be involved since I used my Thai address?

[Pib]

7 hours ago, claynlr said:

Do you think Manila will have to be involved since I used my Thai address?

Not unless Baltimore asks Manila to contact you for some additional info/docs.

 

Now after Baltimore approves your application and you are drawing benefits, when you need to work a SS issue you should contact Manila for assistance as it will be faster than trying to deal with Baltimore.   Manila will be like your local SS office since Manila is responsible for countries in this part of the world.

[claynlr]

On 7/15/2021 at 7:39 PM, Pib said:

Not unless Baltimore asks Manila to contact you for some additional info/docs.

 

Now after Baltimore approves your application and you are drawing benefits, when you need to work a SS issue you should contact Manila for assistance as it will be faster than trying to deal with Baltimore.   Manila will be like your local SS office since Manila is responsible for countries in this part of the world.

Thanks Pib…you’re the greatest!

[rabas]

I'm not sure but this seems the most appropriate thread for the following questions. 

 

Background. I'm switching my US-SS payments from Bangkok Bank to SCB for convenience. SCB has now signed form SSA-1199-OP107 (DIRECT DEPOSIT SIGNUP FORM). The local branch initially said they cannot sign non SCB originated forms but eventually sought and got permission from the head office. They were very helpful and supportive.

 

Q1. Living in Thailand, is it better to send the form to the Baltimore SSA office or to the local office in the Philippines?

 

Q2. The form is primarily for SS direct deposit sign up. Should I note on top that my intention is to switch banks?

 

Many thanks in advance.

[Pib]

43 minutes ago, rabas said:

I'm not sure but this seems the most appropriate thread for the following questions. 

 

Background. I'm switching my US-SS payments from Bangkok Bank to SCB for convenience. SCB has now signed form SSA-1199-OP107 (DIRECT DEPOSIT SIGNUP FORM). The local branch initially said they cannot sign non SCB originated forms but eventually sought and got permission from the head office. They were very helpful and supportive.

 

Q1. Living in Thailand, is it better to send the form to the Baltimore SSA office or to the local office in the Philippines?

 

Q2. The form is primarily for SS direct deposit sign up. Should I note on top that my intention is to switch banks?

 

Many thanks in advance.

Send it to Manila as that's our local office for this part of the world.    Recommend you scan, attached, and email it.     Ask for confirmation/feedback when they update your DD info.  And don't be surprised if it takes a couple weeks to get a response.   

 

It's understood that you want your DD to go to a different bank as people often have multiple accts at multiple banks.   The bank info on the form will be used to replace the current DD info you have onfile with SS.

 

I be sure not to close the acct the DD is currently going to until you receive your first payment in the new DD acct.

 

Edit: and by the way you can have SS go to a "regular" Bangkok Bank saving acct via IDD versus using the ACH method that requires a Bangkok Bank "restricted" acct like you have right now.   

 

Heck, you could even have the IDD go to your current Bangkok Bank restricted acct but I don't know why anyone would want to do that as you would still have all the restrictions associated with the restricted acct and receive just a little less baht if your monthly SS payment is approx $1000 or more.

 

Edited October 24, 2021 by Pib

[Pib]

47 minutes ago, rabas said:

I'm not sure but this seems the most appropriate thread for the following questions. 

 

Background. I'm switching my US-SS payments from Bangkok Bank to SCB for convenience. SCB has now signed form SSA-1199-OP107 (DIRECT DEPOSIT SIGNUP FORM). The local branch initially said they cannot sign non SCB originated forms...

A good amount of people ran into that same problem when trying to sign up for IDD as I expect most banks simply don't want to sign forms that are not generated by the bank. 

 

Keep in mind the part that is supposed to be filed out and signed by the bank is really just to help ensure the correct bank code and acct number are entered as the customer may incorrectly enter the info...get all confused with the bank identification stuff....especially the bank code (SWIFT code in case of IDD).

 

And as you know, in many cases a person can update their own DD deposit online or via a phone call depending on your U.S. govt pension paying agency....no form required....been that way for a long, long time.   Use of the paper signup form is a holdover from olden days and now primarily serves to help ensure accurate bank info is given and for those cases where online/phone DD update is not accepted.  Yea, the intent of the signup form area were the bank does their thing was primarily just to help ensure accurate bank info went forward.  And in some cases where the DD was going to a joint acct to have the other acct other to sign the form also signifying they understand once you die your payment is not theirs, it must stop, they must notify the pension paying agency.

 

I've seen several posts over the last few years where others here in Thailand ran into the same problem with a Thai bank saying they couldn't sign the form and Manila accepted the form "without" the bank signature.  Just include a separate note/memo (or handwrite a note on the form) that the bank will only sign it's own forms and the IDD form is not one of the bank's form and you have confirmed the SWIFT code and your acct number with the bank.

[Pib]

If you email the IDD signup form to Manila recommend you include the info bolded below as it helps Manila verify it's really "you" sending them the DD info.  Below is a partial quote of one of their automated replies you get when sending an email to the Manila SSO.

 

Quote

 

 

To assist us in answering your inquiry, we may request additional information from you. Providing this information is optional; however, we may not be able to assist you without the following information:

·         Last Name:

·         First Name:

·         Date of Birth:

·         Place of Birth:

·         Last four digits of Social Security Number (SSN):

·         Address:

·         Contact Number:

 

 

[rabas]

Thank you for all the clear and useful information.  I was not aware of phone and online options and will try that the next time. 

 

4 hours ago, Pib said:

I've seen several posts over the last few years where others here in Thailand ran into the same problem with a Thai bank saying they couldn't sign the form and Manila accepted the form "without" the bank signature.  Just include a separate note/memo (or handwrite a note on the form) that the bank will only sign it's own forms and the IDD form is not one of the bank's form and you have confirmed the SWIFT code and your acct number with the bank.

The bank offered an alternative if they could not get permission to sign the form, along the lines you suggest. They said they can print and sign an Thai language account verification letter (bai rap rawng) stating the account details and could add the SWIFT code. She said she could then translate it to English as a favour.  The I would staple that to the form.

 

On line does sound a lot easier though.  Again thanks.

[Pib]

Phone and online only apply when the benefits paying agency allows it.  And there can be cases where they "normally" allow it but in some cases require the paper form.  

 

With the SSA when initially applying you typically just provide the bank info on your application if sending to a U.S. bsnk..or if you have a SS online acct you can change DD online if you have a U.S. address onfile but cannot change online if having a foreign address onfile.

 

The paper form method is just the decades old method which is still used in some cases--all depends on the benefits paying agency/particular situation which can vary from case to case. 

 

And it seems IDD is typically one of those cases where the form is required....it's an easy form to complete but as you found out some Thai banks may not sign it....then you need to explain that to Manila as talked earlier.

[jimgilly]

Does anyone know where you can find what the current IDD rates are?  I've been getting SS into US bank and then getting money at ATM with Visa debit card but this may be better.  Like to compare against the daily VISA rate.

[KhunLA]

I just checked my account today and got 32.95.  Direct deposited probably today AM or yesterday.

[Pib]

32 minutes ago, jimgilly said:

Does anyone know where you can find what the current IDD rates are?  I've been getting SS into US bank and then getting money at ATM with Visa debit card but this may be better.  Like to compare against the daily VISA rate.

Nope.  The exchange from USD to THB to done several days before the actual transfer by the U.S. Treasury or their IDD contractor bank (which is Citibank unless something has changed).   And no, don't go to some Citibank webpage and use whatever exchange rate they may show....that's not the IDD exchange rate.

 

I have family member using Social Security IDD....take a look at below post which tracked/compared the IDD exchange rate/fees to the ACH exchange rate/fees for 12 months.  When I say ACH exchange I mean the TT Buying Rate you get at Bangkok Bank for payments made thru the ACH system.  Two ways to receive your SS benefit...either via IDD or ACH transfer.

 

[KhunLA]

38 minutes ago, KhunLA said:

I just checked my account today and got 32.95.  Direct deposited probably today AM or yesterday.

This is what I've received IDD, since going that route.  Comes in first few days of the month.

 

[Pib]

41 minutes ago, KhunLA said:

This is what I've received IDD, since going that route.  Comes in first few days of the month.

 

I just looked at the my family member's November SS IDD payment received this morning.   First looked at the member's online SS acct to see what the actual payment was in dollars after taxes/deductions...etc.  Wanted to be sure exactly how much was being converted from dollars to baht by the U.S. Treasury/their IDD contractor bank

 

Then looked at the Bangkok Bank text notice showing the amount of baht received before their Bahtnet Bt100 fee deduction.    The calculated exchange rate was 33.03.   They then deducted their Bahtnet fee of Bt100 and posted the remaining to the members acct.   

 

Now if calculating the exchange rate after the Bahtnet fee the exchange rate would be lower...specifically 32.91...if wanting to include the fee I guess you could call that the net exchange rate but it's not the actual exchange rate which needs to be calculated before any fees are applied.

 

For comparison, if the payment had arrived via ACH method instead of IDD method the Bangkok Bank exchange rate probably used would have been this morning/3 Nov 0830/opening TT Buying Rate of 33.16.   While the ACH exchange rate is a tad better a person must use a "restricted" Bangkok Bank  savings acct only....but with IDD the person can use a "regular" savings acct at any Thai bank (no restrictions).  Preaching to the choir I know....just for other listening in.

Edited November 3, 2021 by Pib

[jimgilly]

Thanks for the replies. 

 

After checking the numbers, the VISA rate 0% fee, which I get,  is better than the IDD rate so it wouldn't make sense to switch.  Plus with going the ATM route I can see exactly what I will be getting on the day I make a withdrawal and time my withdrawals accordingly. 

[jimgilly]

Pib, I read through all the posts on this thread you provided and noticed you mentioned making bank counter withdrawals with your debit card.  By any chance are you talking about the Charles Schwab International account that covers all ATM fees? 

 

If so, would you be able to get more than $1000 equivalent a day with a bank counter withdrawal and what would the max be?  Looking into Schwab at the moment so this also be a good option.

 

Thanks

[Pib]

11 minutes ago, jimgilly said:

Pib, I read through all the posts on this thread you provided and noticed you mentioned making bank counter withdrawals with your debit card.  By any chance are you talking about the Charles Schwab International account that covers all ATM fees? 

 

If so, would you be able to get more than $1000 equivalent a day with a bank counter withdrawal and what would the max be?  Looking into Schwab at the moment so this also be a good option.

 

Thanks

I have used my Schwab card before for counter withdrawals but it's limited to $1,000 per day whether withdrawing from an ATM or counter.  But later on I got a Cap1 no foreign transaction fee debit that allows $1,000 per day from an ATM and $5,000 at the counter....but it does not reimburse any ATM fees like the Schwab card....so I only use the Cap1 card for counter withdrawals.  The Cap1 debit card has a $5,000 daily counter limit which allows me to do counter withdrawals in the Bt150,000-165,000 ballpark depending on exchange rate....come back the next day and counter withdraw another $5K worth of baht if desired (if you have the bucks).   Doing periodic $5K worth of baht counter withdrawals is my primary way to bring cash into Thailand to top-up my Thai bank accts.   

 

Transfer services like Wise or bank SWIFTs are basically just "backup" methods for me because doing  counter withdrawals with a no foreign transaction fee card gets you the most baht at the least cost...beats Wise....beats SWIFT/ACH/IDD when all the exchange rate/fee dust settles.

[jimgilly]

1 hour ago, Pib said:

I have used my Schwab card before for counter withdrawals but it's limited to $1,000 per day whether withdrawing from an ATM or counter.  But later on I got a Cap1 no foreign transaction fee debit that allows $1,000 per day from an ATM and $5,000 at the counter....but it does not reimburse any ATM fees like the Schwab card....so I only use the Cap1 card for counter withdrawals.  The Cap1 debit card has a $5,000 daily counter limit which allows me to do counter withdrawals in the Bt150,000-165,000 ballpark depending on exchange rate....come back the next day and counter withdraw another $5K worth of baht if desired (if you have the bucks).   Doing periodic $5K worth of baht counter withdrawals is my primary way to bring cash into Thailand to top-up my Thai bank accts.   

 

Transfer services like Wise or bank SWIFTs are basically just "backup" methods for me because doing  counter withdrawals with a no foreign transaction fee card gets you the most baht at the least cost...beats Wise....beats SWIFT/ACH/IDD when all the exchange rate/fee dust settles.

Getting up to $5000 with no fees would be great, however, I take it you need a US address to qualify for the Cap1 debit card, which would disqualify me.  Scwab may still work though.  Thanks for the info.

[cmarshall]

Pib,

 

Do you have Schwab International brokerage account or just the bank account?  I am looking to see if I can open a Schwab International account as a backup to my US broker.

[Pib]

1 hour ago, cmarshall said:

Pib,

 

Do you have Schwab International brokerage account or just the bank account?  I am looking to see if I can open a Schwab International account as a backup to my US broker.

I have the "U.S.", not international, bank/brokerage acct.

[DJ54]

Help! My US bank is closing my account and I need to change the direct deposit from Social Security to Bangkok Bank. I’ve tired calling SS but was on hold. Any help would be appreciated 

[KhunLA]

2 hours ago, DJ54 said:

Help! My US bank is closing my account and I need to change the direct deposit from Social Security to Bangkok Bank. I’ve tired calling SS but was on hold. Any help would be appreciated 

Are you in Thailand ?

 

[Pib]

10 hours ago, DJ54 said:

Help! My US bank is closing my account and I need to change the direct deposit from Social Security to Bangkok Bank. I’ve tired calling SS but was on hold. Any help would be appreciated 

Assuming you already have the appropriate Bangkok Bank acct just contact the Manila SS Office which is responsible for this part of the world.  See contact info below.

 

https://ph.usembassy.gov/u-s-citizen-services/social-security/contact/

 

 

You will most likely need to scan & email a completed SSA-1199-OP107 (IDD for Thailand) if you a signing up for direct deposit via IDD.  Direct deposit via IDD can go to a regular Thai bank savings acct at "any" Thai bank; not just Bangkok Bank.

https://www.ssa.gov/forms/ssa-1199-op107.pdf

 

If signing up for direct deposit via ACH, then you will need a special, restricted Bangkok Bank savings acct....such accts are not available at any other Thai bank.   Bangkok Bank can complete the SF-1199 for you and also send it to Manila....or you can scan and email it to Manila.  

https://www.irs.gov/pub/irs-utl/sf-1199-a_dirdeposit.pdf

 

 

[DJ54]

Thanks for the replies appreciated. Yes I’m living / in Thailand now. Received letter in US from the

bank says .., we’ve decided to close your account.... been with the bank 31 years ...but little activity now

 

[KhunLA]

38 minutes ago, DJ54 said:

Thanks for the replies appreciated. Yes I’m living / in Thailand now. Received letter in US from the

bank says .., we’ve decided to close your account.... been with the bank 31 years ...but little activity now

 

Pib has it correct, open BkkBank acct, ask them for dd info, which Manila probably already know, but will need you acct #, PP & SS info.  Actually quite easy.

[claynlr]

On 7/15/2021 at 7:39 PM, Pib said:

Not unless Baltimore asks Manila to contact you for some additional info/docs.

 

Now after Baltimore approves your application and you are drawing benefits, when you need to work a SS issue you should contact Manila for assistance as it will be faster than trying to deal with Baltimore.   Manila will be like your local SS office since Manila is responsible for countries in this part of the world.

Pib thought I would update you on this and ask a question .

 

After about 3-4 months of waiting on Baltimore to approve I contacted Manila by email about my situation and they promptly responded and said they would check with Baltimore. Promptly again, they emailed me that they would transfer the app to their office (Manila) and would update me.

 

Now it’s been 5 months since first applying for benefits. I sent an email on Monday politely asking if they could inform me approximately how long the process might take as I needed to make some financial decisions. They haven’t replied to this email though.

 

My question is do you or other forum members know how long approvals are taking in these covid times? I based the application date on the statement on MySocialSecurity that for most people approval would be in 2-4 weeks lol! 

[Pib]

46 minutes ago, claynlr said:

 

My question is do you or other forum members know how long approvals are taking in these covid times? I based the application date on the statement on MySocialSecurity that for most people approval would be in 2-4 weeks lol! 

2 to 8 weeks is normally how long it takes.  There must be some problem, out of the normal issue with your application.  COVID might be causing some delay, but not the amount you are experiencing.  Keep contacting Manila and be sure to ask them what specific issue is causing the long delay. 

[claynlr]

14 minutes ago, Pib said:

2 to 8 weeks is normally how long it takes.  There must be some problem, out of the normal issue with your application.  COVID might be causing some delay, but not the amount you are experiencing.  Keep contacting Manila and be sure to ask them what specific issue is causing the long delay. 

Thanks Pib!

[flexomike]

35 minutes ago, claynlr said:

Thanks Pib!

You will be getting a very nice back pay check