Oz Govt pension paid direct into Thai bank.

[indepth]

If it can be done, I wonder if Thai bank would certify the 65k came from o/seas, obviously for the retirement , but, would the thaisconversion rate be crippling!!!

[DrJack54]

Not sure what your asking. I'm thinking your asking if you had your oz pension paid into a Thai bank do you lose on poor exchange rate. Answer is yes. Many other folk USA,UK etc use the term pension differently to Australia. They are referring to income streams a bit like our superannuation in au.

If your currently in au I would take time to look into your options and aspects of sending your pension to Thailand. Personally I would let it accrue and do it in one hit, but you may be looking for monthly income method. 

[indepth]

6 hours ago, DrJack54 said:

Not sure what your asking. I'm thinking your asking if you had your oz pension paid into a Thai bank do you lose on poor exchange rate. Answer is yes. Many other folk USA,UK etc use the term pension differently to Australia. They are referring to income streams a bit like our superannuation in au.

If your currently in au I would take time to look into your options and aspects of sending your pension to Thailand. Personally I would let it accrue and do it in one hit, but you may be looking for monthly income method. 

Thanks. I am currently on a retirement ext. I receive a military disability pension from Oz. Need monthly income method. 

[ozz1]

No problem with sending your pension from Australia to a thai bank ive been doing it for years you get the rba exchange rate wich isn't too bad just download the forms from centerlink no drama takes about a month before you get it but you get paid monthly

[KhunAussie52]

13 hours ago, indepth said:

Thanks. I am currently on a retirement ext. I receive a military disability pension from Oz. Need monthly income method. 

DVA will pay your entitlements directly to your Thai bank account, monthly.If you ask!! Or you can transfer from your Australian account to a Thai bank.

 

[Laza 45]

A few years ago when you could actually talk to someone at Centerlink .. and I told them that I was living in Thailand they actually offered to deposit my pension into a Thai bank account..  Unfortunately I knocked it back because at the time I didn't know just how long I would want to stay here... as it turns out.. I'm here for the long haul...  So.. I am sure it can be done.. but it means dealing with their bureaucracy   but I shall try.   I had a chat with someone who gets money transfer regularly and his advice is to get them to send it in $Au.. if you buy Bt in Oz to send they charge for the  exchange service and give you a crap rate to boot..  Better exchange rate here.. and a fee of 250 Bt to 500 Bt depending on amount..  I'm sure it can be done and good solution.. I'll try again... good luck..

[chainarong]

30 minutes ago, Laza 45 said:

A few years ago when you could actually talk to someone at Centerlink .. and I told them that I was living in Thailand they actually offered to deposit my pension into a Thai bank account..  Unfortunately I knocked it back because at the time I didn't know just how long I would want to stay here... as it turns out.. I'm here for the long haul...  So.. I am sure it can be done.. but it means dealing with their bureaucracy   but I shall try.   I had a chat with someone who gets money transfer regularly and his advice is to get them to send it in $Au.. if you buy Bt in Oz to send they charge for the  exchange service and give you a crap rate to boot..  Better exchange rate here.. and a fee of 250 Bt to 500 Bt depending on amount..  I'm sure it can be done and good solution.. I'll try again... good luck..

Just download the form for int deposit that way U certainly will avoid the B/S and lack of professionalism from C/L oh and compassion.

[GalaxyMan]

I wasn't aware that the 65k had to be deposited from overseas. My understanding is that they just want to see 65k deposited into the account each month. Never heard that there was a requirement as to where it comes from.

[LivinLOS]

13 minutes ago, GalaxyMan said:

I wasn't aware that the 65k had to be deposited from overseas. My understanding is that they just want to see 65k deposited into the account each month. Never heard that there was a requirement as to where it comes from.

Still shaking out but it would appear that many IOs believe it must come from overseas.. Otherwise whats to stop you paying yourself (via a 3rd party) and recycling it, therefore undermining the entire process. 

[Lacessit]

I prefer to accumulate my pension in an Australian account, then transfer once a year. My Australian transfer cost is $30. I transfer through Bangkok Bank to ensure it is flagged as an overseas transfer. Their exchange rate is not too bad. I drop about 0.5 baht on the cross rate. That's a lot less than an Australian bank will sting me.

Obviously, I am using the 800K deposit method for extensions.

[ubonjoe]

23 minutes ago, GalaxyMan said:

I wasn't aware that the 65k had to be deposited from overseas. My understanding is that they just want to see 65k deposited into the account each month. Never heard that there was a requirement as to where it comes from.

The amendment to the police order states this.

[2BOB]

first step ring centerlink in Tassie this is were all overseas pensions a controled from. they are very helpfull (Ivan wants to retire in thailand ). next step down load form , you will need to show a bank book with your name and address or letter from bank , must have bank letter head on top. wait about a week and call tassie again they will speed it up

[Capt Rob]

2 hours ago, Laza 45 said:

A few years ago when you could actually talk to someone at Centerlink .. and I told them that I was living in Thailand they actually offered to deposit my pension into a Thai bank account..  Unfortunately I knocked it back because at the time I didn't know just how long I would want to stay here... as it turns out.. I'm here for the long haul...  So.. I am sure it can be done.. but it means dealing with their bureaucracy   but I shall try.   I had a chat with someone who gets money transfer regularly and his advice is to get them to send it in $Au.. if you buy Bt in Oz to send they charge for the  exchange service and give you a crap rate to boot..  Better exchange rate here.. and a fee of 250 Bt to 500 Bt depending on amount..  I'm sure it can be done and good solution.. I'll try again... good luck..

With regard to exchange options, check out the comparison site ' monito ' it will throw up two good options instarem and transferwise and a few others to compare with. Once you establish an account an easy process to transfer AUD into THB for a nominated Thai account in your name.

[Oztruckie]

Visited my local Krungsri bank the other day to enquire about confirming my funds that I transfer from Oz have come from abroad, manager of the branch printed and signed a letter stating above, all done in 5 minutes, no charge,to the op, I presume this is what your post relates to. 

[Russell17au]

I used to have my pension paid into my NAB account in Aus and I had what they call a travelers card which I used to load with what ever currency I wanted to use and there was no fee. Not until you wanted to withdraw some money then I was paid a terrible exchange rate (official exchange rate AUD1 = 26Baht) at the time the NAB paid AUD1 = 22Baht plus I was then hit with the ATM fee as well. I have since changed to having my pension paid direct from the RBA to my Bangkok Bank account at a much higher exchange rate and with no fees. I am about 3,000 - 4000Baht better off each month

[DrJack54]

2 hours ago, Lacessit said:

I prefer to accumulate my pension in an Australian account, then transfer once a year. My Australian transfer cost is $30. I transfer through Bangkok Bank to ensure it is flagged as an overseas transfer. Their exchange rate is not too bad. I drop about 0.5 baht on the cross rate. That's a lot less than an Australian bank will sting me.

Obviously, I am using the 800K deposit method for extensions.

I don't have a pension but have been recommending doing exactly what you do for long time. The only thing you/others may wish to try for that one substantial transfer is OFX. Same type of company as transferwise. The only difference I use is when I'm in oz I bring money into Los in green. 25usd.

 

[indepth]

2 hours ago, 2BOB said:

first step ring centerlink in Tassie this is were all overseas pensions a controled from. they are very helpfull (Ivan wants to retire in thailand ). next step down load form , you will need to show a bank book with your name and address or letter from bank , must have bank letter head on top. wait about a week and call tassie again they will speed it up

Im DFRDB, thanks anyway

 

[indepth]

2 hours ago, Capt Rob said:

With regard to exchange options, check out the comparison site ' monito ' it will throw up two good options instarem and transferwise and a few others to compare with. Once you establish an account an easy process to transfer AUD into THB for a nominated Thai account in your name.

transferwise, money comes from thailand, not from where it is send from, according to a post on here. 

[indepth]

4 hours ago, KhunAussie52 said:

DVA will pay your entitlements directly to your Thai bank account, monthly.If you ask!! Or you can transfer from your Australian account to a Thai bank.

 

Would you know the form i need?

[Russell17au]

20 minutes ago, indepth said:

Would you know the form i need?

The form that you need is:

Bank Account Details
Local Currency Wire Payment

AUS178L.1402

You must fill out this form with all your Thai bank details and take it to the bank and have the Thai bank stamp put in it then you must post it to the address that is on the form.

[indepth]

32 minutes ago, Russell17au said:

The form that you need is:

Bank Account Details
Local Currency Wire Payment

AUS178L.1402

You must fill out this form with all your Thai bank details and take it to the bank and have the Thai bank stamp put in it then you must post it to the address that is on the form.

many thanks. What service were you in, when? Me RAAF 

[Mister T]

1 hour ago, indepth said:

Im DFRDB, thanks anyway

They will not transfer direct to a Thai bank. I have DFRDB and DVA, only DVA will transfer here, in Thai baht only, monthly.

[indepth]

46 minutes ago, Mister T said:

They will not transfer direct to a Thai bank. I have DFRDB and DVA, only DVA will transfer here, in Thai baht only, monthly.

Bloody confusing. I thought my DFRDB was paid by DVA. 

[GalaxyMan]

6 hours ago, ubonjoe said:

The amendment to the police order states this.

That's pretty clear. Thanks, UbonJoe!

[indepth]

2 hours ago, GalaxyMan said:

That's pretty clear. Thanks, UbonJoe!

What has that got to do with DFRDB and DVA????????

[ronrat]

I am in comsuper and was told it had to be paid into an   australian bank.

[CM4Me]

Hi Indepth, I'm in the same boat as you, ie I'm receiving DVA pension.

 

For the last 7 odd years I've been doing 'on-line' transfers from Westpac to BKK Bank, no problems till now. Suddenly, un-announced, Westpac has stopped sending 'SMS one-time pin numbers' to Thailand. After numerous tries, phone calls and an email I'm still hitting a blank wall.

 

So, having previously heard about direct deposits by DVA to a Thai Bank, today I started searching the DVA website, in particular the 'fact sheets' section and found the following

https://www.dva.gov.au/sites/default/files/dvaforms/D9196.pdf

This site is what you are looking for, and whom to send it to (fax would be the quickest) - easy peasy

 

 good luck

 

 

[TPI]

On 2/6/2019 at 11:32 PM, indepth said:

Thanks. I am currently on a retirement ext. I receive a military disability pension from Oz. Need monthly income method. 

Why not just transfer the DVA pension from your bank in Oz into your bank in Thailand, CBA only charges $22 for AUD to AUD (Thai Bank account) transfers!

[a977]

I have my Australian pension paid into my Westpac account in Oz and then use Transfer wise to bring money to Thailand. You get a better rate this way and only a small fee eg; AUD 1,000 = 10.00 fee. This morning rate  Bangkok Bank 21.51 Transfer wise 22.1858. 

[indepth]

8 hours ago, CM4Me said:

Hi Indepth, I'm in the same boat as you, ie I'm receiving DVA pension.

 

For the last 7 odd years I've been doing 'on-line' transfers from Westpac to BKK Bank, no problems till now. Suddenly, un-announced, Westpac has stopped sending 'SMS one-time pin numbers' to Thailand. After numerous tries, phone calls and an email I'm still hitting a blank wall.

 

So, having previously heard about direct deposits by DVA to a Thai Bank, today I started searching the DVA website, in particular the 'fact sheets' section and found the following

https://www.dva.gov.au/sites/default/files/dvaforms/D9196.pdf

This site is what you are looking for, and whom to send it to (fax would be the quickest) - easy peasy

 

 good luck

 

 

Thanks, will check it out