Bangkok bank international transfer codes

[keithet]

I just opened a Bangkok bank account so I can do monthly deposit from foriegn US acount to thai acount for monthly income method with imagration. 

I did a international transfer but not sure what the bank codes stand for and if they specify that they are from a foreign acount. 

My bangkok bank internet shows:

Description - bahtnet

       Then 

Channel - upload derect debit\chanel fedi b2b 

[Pib]

Since the last leg of the transfer was a "Bahtnet" transfer (and internal Thailand funds transfer system) and probably occurred because HQ Bangkok Bank relayed the received SWIFT funds to your Bangkok Bank branch probably outside the Metro Bangkok area.   Where is your branch in Thailand?  And this caused the transfer not to appear as an international transfer....the domestic relay caused the international coding not to be displayed/stripped off.

 

Or, your sending US bank ended up routing the funds thru an "intermediary" Thai bank other than Bnagkok Bank which did the final leg of the transfer via Bahtnet which once again caused the transfer not to appear as an international transfer.

 

I'm have a Bangkok Bank account and occasionally do an "ACH" transfer from my US bank and also occasional transfers using Transferwise.   Below is a snapshot of my Bangkok Bank ibanking.  The first three line items below were using Transferwise.   The last line item was using ACH from from US bank.   My Bangkok Bank branch is here in Bangkok.

 

 

 

[keithet]

12 minutes ago, Pib said:

Since the last leg of the transfer was a "Bahtnet" transfer (and internal Thailand funds transfer system) and probably occurred because HQ Bangkok Bank relayed the received SWIFT funds to your Bangkok Bank branch probably outside the Metro Bangkok area.   Where is your branch in Thailand?  And this caused the transfer not to appear as an international transfer....the domestic relay caused the international coding not to be displayed/stripped off.

 

Or, your sending US bank ended up routing the funds thru an "intermediary" Thai bank other than Bnagkok Bank which did the final leg of the transfer via Bahtnet which once again caused the transfer not to appear as an international transfer.

 

I'm have a Bangkok Bank account and occasionally do an "ACH" transfer from my US bank and also occasional transfers using Transferwise.   Below is a snapshot of my Bangkok Bank ibanking.  The first three line items below were using Transferwise.   The last line item was using ACH from from US bank.   My Bangkok Bank branch is here in Bangkok.

 

 

 

My bangkok bank was opened at home branch in silom.  I called 1333 and said it showed from bank of thailand... 

My US acount is Bank if America. 

 

My US acount says money was sent to the swift and bank account number that was given "Bangkok bank silom. 

But Bangkok Bank says they received from bank of thailand. 

I sent the money in baht online with my US acount because I can know the amount to satisfy imagration with 40,000+ monthly transfer but don't show as international. 

If I send in US dollar I wonder if that would work?? I just don't know how much bkk bank charges. 

[Pib]

43 minutes ago, keithet said:

 

If I send in US dollar I wonder if that would work?? I just don't know how much bkk bank charges. 

Sounds like you allowed BoA to convert the funds for you--big mistake from an exchange rate standpoint as western banks exchange rates are several percent lower than the Thai bank TT Buying Rate used by Thai bank to exchange incoming transfers. 

 

Western banks love to exchange the funds on their end as it a very nice profit for them at your expense...end results is less baht being deposit to your Thai bank account.  Don't do that again. They will may even offer a lower direct sending fee if you allow them to do the exchange, but they more than make up for that on the lower exchange rate they give you (i.e., and indirect fee). 

 

Summary: DO NOT let your home country bank convert for you....in your case send US dollars from your US bank....let the Thai bank accomplish the exchange. 

 

And maybe since you did allowed the US bank to send baht instead of dollars that caused the routing of the money to go a little differently....like to Bank of Thailand first who then relayed the baht over to your Bangkok Bank Silom branch as domestic transfer on Bahtnet which caused a Description/Coding change...caused the "international transfer data" to get stripped off.

 

My Bangkok Bank branch is also the home branch on Silom Rd...1st floor of the HQ Bangkok Bank building...just like you.  Over the years the few times I have used SWIFT to send money it was coded as International Transfer.....and the many times over the years I used ACH to send money it was coded as International Transfer---even when I still had an account with/used BoA.

 

 

Edited January 26, 2019 by Pib

[keithet]

7 minutes ago, Pib said:

Sounds like you allowed BoA to convert the funds for you--big mistake from an exchange rate standpoint as western banks exchange rates are several percent lower than the Thai bank TT Buying Rate used by Thai bank to exchange incoming transfers. 

 

Western banks love to exchange the funds on their end as it a very nice profit for them at your expense...end results is less baht being deposit to your Thai bank account.  Don't do that again. They will may even offer a lower direct sending fee if you allow them to do the exchange, but they more than make up for that on the lower exchange rate they give you (i.e., and indirect fee). 

 

Summary: DO NOT let your home country bank convert for you....in your case send US dollars from your US bank....let the Thai bank accomplish the exchange. 

 

And maybe since you did allowed the US bank to send baht instead of dollars that caused the routing of the money to go a little differently....like to Bank of Thailand first who then relayed the baht over to your Bangkok Bank Silom branch as domestic transfer on Bahtnet which caused a Description/Coding change...caused the "international transfer data" to get stripped off.

 

My Bangkok Bank branch is also the home branch on Silom Rd...1st floor of the HQ Bangkok Bank building...just like you.  Over the years the few times I have used SWIFT to send money it was coded as International Transfer.....and the many times over the years I used ACH to send money it was coded as International Transfer---even when I still had an account with/used BoA.

 

 

Can someone still use ACH? I read that latter this year can't use.  And new set ups are being sent back during the 1 or 2 trial sends.  I read here on tv not sure if I worded my question right...  Sorry. 

I use to just deposit 3 times a year but used embassy letter. Just trying to make things correct for imagration 

[Jingthing]

Can someone still use ACH? I read that latter this year can't use.  And new set ups are being sent back during the 1 or 2 trial sends.  I read here on tv not sure if I worded my question right...  Sorry. 
I use to just deposit 3 times a year but used embassy letter. Just trying to make things correct for imagration 

Yes domestic ACH new setups from the US to BB stopped long ago. Existing setups will be cut off this April.


International ACH formatting is required now. Generally not available for customers at US banks.

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[Pib]

12 minutes ago, keithet said:

Can someone still use ACH? I read that latter this year can't use.  And new set ups are being sent back during the 1 or 2 trial sends.  I read here on tv not sure if I worded my question right...  Sorry. 

I use to just deposit 3 times a year but used embassy letter. Just trying to make things correct for imagration 

You can still use ACH if your ibanking  ACH transfer link was already setup....or if you walk into a branch/call to initiate the transfer....it will still work until 1 Apr 19. 

 

But if  you tried to setup a new ACH transfer link ever since around mid 2018 on your US ibanking to your Bangkok Bank account  and your sending bank used the "trial deposits" method to validate the transfer link, it would get rejected...the trial deposits would be rejected....you could not validate/complete setup of the transfer link.  

 

Bangkok Bank is kinda doing this new ACH "IAT" implementation in steps....first step around mid 2018 was to stop allowing new ACH ibanking transfer links to be setup using the trial deposit method which most (not all) US banks use.  And the next big step come 1 Apr 19 is unless your ACH transfer is in ACH "IAT" format, which no US banks/credit unions use for retail accounts, the transfer will be rejected no mater if it was initiated by ibanking, call-in, at the branch counter, etc.

 

Basically come 1 Apr 19 ACH transfers from your US banks must be in ACH "IAT" format or they will be rejected.  

Edited January 26, 2019 by Pib

[keithet]

So just swift I guess??? 

[Jingthing]

So just swift I guess??? 

Swift is excellent except that many financial institutions charge ridiculous prices for it.

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[Pib]

10 minutes ago, keithet said:

So just swift I guess??? 

SWIFT or a money transfer service like Transferwise.

[keithet]

29 minutes ago, Pib said:

SWIFT or a money transfer service like Transferwise.

Transferwise is not 100% garente that will show international for monthly transfer.  So 10 might show international but if 2 don't then what?? Fail with imagration that's what and didn't want to risk my ability of being with my family in Thailand. 

I'm going to miss the embassy letter And very angry about it. I would love to show proof to get it. 

But I guess some lie so everything is gone with that option. 

Makes me want to give pain to the abusers of the system. 

Now I'm dealing with bank bs! 

Edited January 26, 2019 by keithet

[Sheryl]

7 minutes ago, keithet said:

Transferwise is not 100% garente that will show international for monthly transfer.  So 10 might show international but if 2 don't then what?? Fail with imagration that's what and didn't want to risk my ability of being with my family in Thailand. 

I'm going to miss the embassy letter And very angry about it. I would love to show proof to get it. 

But I guess some lie so everything is gone with that option. 

Makes me want to give pain to the abusers of the system. 

Now I'm dealing with bank bs! 

if some of your transfers show as domestic then get the documentation from TW (and if possible the intermediary Thai bank they used) to show Immigration that these also originated abroad.

 

Granted no one has yet done this so we don't know how it will go but that's the recourse if you cannot do the 400/800 in the bank method.

 

I would first try showing to to your bank and seeing if they would explain it in the letter they issue as that will be easier than trying to explain the whole thing to Imm yourself.

[Pib]

8 minutes ago, keithet said:

Transferwise is not 100% garente that will show international for monthly transfer.  So 10 might show international but if 2 don't then what??

Yeap....and if Transferwise ever drops Bangkok Bank as one of its three Thailand partner banks (Bangkok Bank, TMB, and Kaiskorn), then those folks using Transferwise with Bangkok Bank accounts will probably then endup with "domestic" versus "international" coding.

[OJAS]

19 hours ago, Pib said:

Yeap....and if Transferwise ever drops Bangkok Bank as one of its three Thailand partner banks (Bangkok Bank, TMB, and Kaiskorn), then those folks using Transferwise with Bangkok Bank accounts will probably then endup with "domestic" versus "international" coding.

In any event, it is, I think, luck of the draw as to which of these 3 banks is used at the Thai end for routing a TransferWise transfer to a Bangkok Bank account. Although most of mine were routed through Bangkok Bank themselves and, hence, coded FTT in my Bangkok Bank passbook, one was routed through TMB and ended up coded SMT in my passbook. As will be evident from this thread which I recently originated, this particular coding does not have any whiff of an "international transfer" flavour about it!

 

 

Accordingly I have ceased using TransferWise and instead reverted to using the Bangkok Bank London branch facility (which, unlike its New York counterpart, does not appear to be going away any time soon, thankfully) for making my monthly 65k+ transfers in order to guarantee the magical FTT coding in my passbook, which my local immigration office will, I assume, insist on when I next apply for a retirement extension.

Edited January 27, 2019 by OJAS

[Pib]

The recent immigration policy change regarding the monthly income method requirement international transfers sure broke the damn in many TV posters reporting how their transfers were not being posted as international transfers on their Thai bank accounts.  Even for some folks using SWIFT and U.S. ACH transfer systems.  Before it didn't really matter to them about the coding/description....they were happy enough with just the money arriving...quite understandable before the policy change..

 

With more and more financial payment systems springing-up as financial companies, money transfer companies, banks, etc., all try to capture a piece of the "money transfer/payment" business and trying to do it a little be cheaper, money transfer methods and routing is changing rapidly. 

 

Normally, as long as person gets his money...gets it fast...gets it at a fair transfer cost....he's a happy camper; he just don't care much (or at all) about coding/description.  But when the coding/description does become important his camping is no longer as pleasant.  

 

I expect over 2019 many people will be applying for their extension of stay with Thai bank statements that do "not" identify "some or all" incoming international transfers as international transfers...some will get coded as domestic transfers for whatever reason.  At that time the person will need to convince the immigration officer with other supporting docs to prove the transfer was indeed international but for whatever reason didn't get coded as such.  

 

Hopefully the immigration offices will quickly realize international payments can indeed sometimes end up getting coded as domestic transfers and happily accept supporting proof such as Transferwise receipts, home country bank statements showing the transfer, home country government benefits statement showing a monthly transfer, etc.   Time will tell.

 

 

[keithet]

1 hour ago, Pib said:

The recent immigration policy change regarding the monthly income method requirement international transfers sure broke the damn in many TV posters reporting how their transfers were not being posted as international transfers on their Thai bank accounts.  Even for some folks using SWIFT and U.S. ACH transfer systems.  Before it didn't really matter to them about the coding/description....they were happy enough with just the money arriving...quite understandable before the policy change..

 

With more and more financial payment systems springing-up as financial companies, money transfer companies, banks, etc., all try to capture a piece of the "money transfer/payment" business and trying to do it a little be cheaper, money transfer methods and routing is changing rapidly. 

 

Normally, as long as person gets his money...gets it fast...gets it at a fair transfer cost....he's a happy camper; he just don't care much (or at all) about coding/description.  But when the coding/description does become important his camping is no longer as pleasant.  

 

I expect over 2019 many people will be applying for their extension of stay with Thai bank statements that do "not" identify "some or all" incoming international transfers as international transfers...some will get coded as domestic transfers for whatever reason.  At that time the person will need to convince the immigration officer with other supporting docs to prove the transfer was indeed international but for whatever reason didn't get coded as such.  

 

Hopefully the immigration offices will quickly realize international payments can indeed sometimes end up getting coded as domestic transfers and happily accept supporting proof such as Transferwise receipts, home country bank statements showing the transfer, home country government benefits statement showing a monthly transfer, etc.   Time will tell.

 

 

My home bank in US via internet or statements tell all the info from home bank, amount, time, and which bank is sent to. I miss my embassy letter. One piece of paper done. The bummer is they still except them if you aren't part of the embassies that dropped it. 

Next month I will send via swift and send in US dollar. I hope it will show international! I don't think one can depend on imagration to be understanding...  Can hope but don't think so. 

[SooKee]

I'm considering reverting to SWIFT if it becomes necessary. I've opened a BKK Bank account now seeing as most TW deposits seem to show as International. In the event that one doesn't I'll likely do a double up transfer that month by SWIFT to get the foreign transfer proof, at least until such stage as folks start reporting they're having success (or not) explaining rogue transactions to Immigration.

 

If I have to revert to more trusted methods I'll look at the options again. Likely it'll be down to using either OFX (who apparently always use SWIFT) or BKK Bank's London transfer (if I can register for that using a UK account from here). It'll come down to which is the most cost effective of the two.

 

While it's a help that Immigration have opened up this alternative the extent to which they will examine the source of funds could make it more problematic (and expensive) than folks would like.

 

I only opened the BKK Bank account to get the TW audit trails. If that fails or if TW change their partners in the future I don't plan on doing any more bank chasing.

 

 

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[jnak]

I just wanted to update quickly with my recent international transfer to Bangkok bank using TransferWise. In advance of the transfer, I emailed TransferWise to see if I could have them guarantee that my transfer would show as international (FTT), and they told me this:

 

”As for your question regarding your transfer to Thai Baht, if you choose the transfer purpose as "Buying Property Abroad" or "Funds For Long Term Stay in Thailand", then your transfer will automatically be routed to one of our banking partners that is capable of showing their transfers as international transfers. 
So if we route your transfer via Bangkok Bank, then you should be fine.“

 

I have since made the transfer, which showed international in TransferWise, but I also updated my bank book and it does indeed show FTT. 
 

I haven’t actually gone to immigration yet to renew, but I am hopeful that this will all be correct. 
 

hope this will be helpful to others. 

[SooKee]

18 hours ago, jnak said:

I just wanted to update quickly with my recent international transfer to Bangkok bank using TransferWise. In advance of the transfer, I emailed TransferWise to see if I could have them guarantee that my transfer would show as international (FTT), and they told me this:

 

”As for your question regarding your transfer to Thai Baht, if you choose the transfer purpose as "Buying Property Abroad" or "Funds For Long Term Stay in Thailand", then your transfer will automatically be routed to one of our banking partners that is capable of showing their transfers as international transfers. 
So if we route your transfer via Bangkok Bank, then you should be fine.“

 

I have since made the transfer, which showed international in TransferWise, but I also updated my bank book and it does indeed show FTT. 
 

I haven’t actually gone to immigration yet to renew, but I am hopeful that this will all be correct. 
 

hope this will be helpful to others. 

That's interesting.  I wondered what the added 'Funds for long term stay' descriptor changed, if anything.  I eventually got TW to 'tag' my account (I say eventually as some of their CS staff don't actually seem to know that they can do it) so that every transfer to my Bangkok Bank account is made using Bangkok Bank as the partner bank.  Since then it's always worked and I'd always just select the 'Monthly living expenses'.  On the basis of 'if it ain't broke don't try and fix it' I've not tried using that 'Reason for sending'.

 

Odd that TW say using that description will ensure it'll be routed to a bank capable of showing International Transfers. AFAIK they all are, the only issue is that TW have to use the same bank as the bank the funds are being sent to for it to show up.  So, Bangkok Bank for Bangkok Bank transfers and Kasikorn for Kasikorn.  It'd be interesting to see how that description would work if you tried sending to Kasikorn and you didn't have your TW account tagged to ensure they use Kasikorn as the banking partner.  Maybe that description will ensure that they will try to match the target bank for the transfer to one of their 3 banking partners.  What would be more interesting though is if you were sending to a bank that's not one of their partners, such as SCB.  I can't see how SCB, or the TW 'Reason for sending' could ensure the transfer would show as International if the funds are received from another Thai bank within Thailand which is what will happen with TW in that instance as they will have to use either Bangkok, Kasikorn or TMB to send the funds here.  One of those banks then remitting the funds to SCB will result in a local transfer showing up in the account.

Edited November 27, 2019 by SooKee