Direct Deposit account in Bangkok Bank, NY

[pizzachang]

Here's a copy of a letter I received today.

New York Branch Help Desk <[email protected]>	3:17 AM (2 hours ago)
to me

 

 

 

 

 

 

 

 

Dear_________

Thank you for contact us at NY Help Desk

 

Is your account number a Direct Deposit account?  If yes, you are not allow to use any electronic banking include ATM Card as the Direct Deposit Account is a restriction account.

New York Branch is a Federal Limited Branch of the United States of America. As per our license in the USA , we have no access into any accounts with Bangkok  in Thailand.

Sorry for inconvenience

Please contact your branch for information or you can call our Global Payment Service of our Head Office at 02-230-1322or 02-230-1323

 

Thank you & Kind regards

 

NY Help Desk

[hokeedoo]

it would help to see what you actually asked them.

 

If you open a bangkok bank account here in Thailand and tell them you want ATM, mobile banking and more importantly the ability to do domestic rate International transfer from a USA bank to your account here in Thailand via the NYC office in order to meet Immigration requirements you shall receive. 

 

The new york office is basically a 'transfer station' that allows you to get the domestic electronic transfer rate. It is also the only Thai bank that allows for direct deposit of US type government pensions. It is not a 'bank' itself where you can just walk in the NYC office and say "hey I want to make a withdrawal or open an account". 

 

So, again, not sure what you asked them because many many US expats use Bangkok bank for both direct deposit of governments pensions as well as domestic rate International transfers. Edit: as well as ATM and Mobile Banking

Edited February 26, 2019 by hokeedoo
add

[pizzachang]

Dear help desk,

  I have recently opened an account [                 ]

This is a United States Social Security pension benefit deposit, which is supposed to begin in April, according to Social Security.

My question is:  Will I be able to access my funds at the Bangkok Bank's ATM in Thailand, using my locally - issued ATM card?  

I'm am trying to comply with the new Immigration order.  I live in Chiang Mai and have lived here since 2008 and am married to a Thai national.  

If, there is any problems related to accessing my funds, please inform me by e-mail.

I also have US bank accounts and will likely transfer money to Bangkok Bank, New York, from those accounts. If this might have problems, please inform me by e-mail.

[pizzachang]

22 minutes ago, hokeedoo said:

it would help to see what you actually asked them.

 

If you open a bangkok bank account here in Thailand and tell them you want ATM, mobile banking and more importantly the ability to do domestic rate International transfer from a USA bank to your account here in Thailand via the NYC office in order to meet Immigration requirements you shall receive. 

 

The new york office is basically a 'transfer station' that allows you to get the domestic electronic transfer rate. It is also the only Thai bank that allows for direct deposit of US type government pensions. It is not a 'bank' itself where you can just walk in the NYC office and say "hey I want to make a withdrawal or open an account". 

 

So, again, not sure what you asked them because many many US expats use Bangkok bank for both direct deposit of governments pensions as well as domestic rate International transfers. Edit: as well as ATM and Mobile Banking

Thanks for your reply - Here is what I sent them. I do understand that S.S deposits and some State Retirement Benefits are different in some way, for the purpose of direct deposit.  I guess I was surprised that the NY Bangkok Bank stated that there was no ATM use - maybe they meant for use in the USA?

[OneZero]

No atm use because if you die someone else, without their knowledge can continue to withdraw funds.  If you have to show up at the bank yourself it proves you are still alive.

[ubonjoe]

If you set up a direct deposit account to have your SS payments sent to via the New York branch you can only withdraw the funds or transfer the funds to another account by doing it in person. You cannot have a ATM/Debit card or use online banking to move funds out of that account in anyway.

Quote

Conditions

Bangkok Bank cannot authorize the withdrawal of funds from your direct deposit account by an appointed representative, or via ATM or any other electronic channel. You must appear in person at a Bangkok Bank branch to withdraw the funds. You can, however, open a normal savings or current account and transfer the funds from your direct deposit account to this account. You may then withdraw your funds as usual via ATM or any other electronic channel.

Source after selecting this here. https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

[lopburi3]

Also be aware that you will not be able to send funds to Bangkok Bank NY for transfer to Thailand after April 1 using normal ACH domestic system (if that was your plan).

 

As said funds must go into a visit bank access only account in Thailand (although they may allow set up and a deposit or two before they notice).  This is to protect bank as they are responsible for repayment of any funds issued after death.

[pizzachang]

29 minutes ago, ubonjoe said:

If you set up a direct deposit account to have your SS payments sent to via the New York branch you can only withdraw the funds or transfer the funds to another account by doing it in person. You cannot have a ATM/Debit card or use online banking to move funds out of that account in anyway.

Source after selecting this here. https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

If you set up a direct deposit account to have your SS payments sent to via the New York branch you can only withdraw the funds or transfer the funds to another account by doing it in person. - By "in person" I hope you don't mean in person in New York.  After having set up this account, I'm wondering what the advantage really is for those of us with SS pensions? Also, I'm not seeing any real difference in using my US Bank ATM to withdraw funds in Thailand and using the BBK Bank New York and transferring funds to my Bangkok Bank Chiang Mai account. All my deposits of pensions are easily provable by US bank records and the ATM slip proves I withdrew those funds.

[pizzachang]

10 minutes ago, lopburi3 said:

Also be aware that you will not be able to send funds to Bangkok Bank NY for transfer to Thailand after April 1 using normal ACH domestic system (if that was your plan).

 

As said funds must go into a visit bank access only account in Thailand (although they may allow set up and a deposit or two before they notice).  This is to protect bank as they are responsible for repayment of any funds issued after death.

" transfer to Thailand after April 1 using normal ACH domestic system (if that was your plan)."

I thought the ACH didn't apply specifically to Social Security direct deposits?

[lopburi3]

3 minutes ago, pizzachang said:

All my deposits of pensions are easily provable by US bank records and the ATM slip proves I withdrew those funds.

And that is not acceptable to immigration for extensions of stay - you must show 65k every month into a Thai bank account and have that bank confirm in writing if using income method.

[lopburi3]

Deposits going to New York for forwarding to Thai bank accounts are in ACH format - but there are two types and now all must be in the International ACH format (SS can do but normal banks can not).  Yes we are talking about visiting Thai bank where account is held - New York does not have accounts for individuals.  

[pizzachang]

Ubonjoe,

  When I opened the Bangkok account at the local branch, I also got the ATM card - This was the (according to my understanding) the Bangkok New York branch account, since that is what I requested.  I have only one account number and tested the ATM card to make sure I could withdraw funds locally. Of course, the funds I withdrew were not actually deposited in New York. 

So, from what all these helpful posts are saying, is that I will have to go to my local branch, withdraw funds from the NY account and redeposit into local account - all using the same account number. Correct?

[pizzachang]

10 minutes ago, lopburi3 said:

And that is not acceptable to immigration for extensions of stay - you must show 65k every month into a Thai bank account and have that bank confirm in writing if using income method.

Since I'm using a non - O, I think my requirement is 40K per month.  My S.S. pension alone covers that. I also have a PERS pension.  What is the difference in bank records and "the bank confirming in writing"?  Just wondering if there is a logical reason. 

[ubonjoe]

4 minutes ago, pizzachang said:

So, from what all these helpful posts are saying, is that I will have to go to my local branch, withdraw funds from the NY account and redeposit into local account - all using the same account number. Correct?

You do not have a New Your account of any kind. They do not have local accounts.You are going to need to change the account you have now to a direct deposit account or open another account that has to be direct deposit account or Bangkok Bank in New York will not process your SS payments.

Best to apply for the new direct deposit account. Then when your SS payments come in you would need to go the bank to transfer the money into your other account.

When you opened your account did you do a SF1199A form to have your SS payment sent to your account?

[lopburi3]

3 minutes ago, pizzachang said:

Since I'm using a non - O, I think my requirement is 40K per month.  My S.S. pension alone covers that. I also have a PERS pension.  What is the difference in bank records and "the bank confirming in writing"?  Just wondering if there is a logical reason. 

Yes it will be 40k per month for 12 months as confirmed by your Thai bank - has nothing to do with US paperwork or bank records since Embassy will not certify them.

 

You have a normal BBL account which for normal deposits is fine - but not for SS payments - you will have to establish a new account without ATM card or online access if getting SS from New York branch.  It is unknown what restriction will be in place for direct international payments (just starting) but most believe same personal access only account will be required.

[ubonjoe]

11 minutes ago, pizzachang said:

Since I'm using a non - O, I think my requirement is 40K per month.  My S.S. pension alone covers that. I also have a PERS pension.  What is the difference in bank records and "the bank confirming in writing"?  Just wondering if there is a logical reason. 

You apparently have a extension of stay based upon marriage not a non-o visa entry since you mention the 40k baht income requirement.

You will need show transfers going in to your account every month by way of a bank book or a statement from the bank. Then you will need a letter from the bank confirming your account is valid.

 

[IraqRon]

Just a bit of info on the bbk NY method.  Have had a regular bbk account for ten years, but as joe and others explained, for New York bbk transfer you must open a direct deposit account with its restrictions.  I was told at the bank that this is currently taking three months be effective and will cost will be 5 usd per deposit for NY branch and a minimum 200 baht per for the bbk in Thailand.  This is for usd 100.01 - 2000.00.  For other amount of transfer ask for rate schedule at your bank.  This does get the telex transfer rate.

 

I don't know if multiple deposits to NY can be joined and sent to Thailand in one lump some or not.  If you have info on this or when transfer is made in regard to deposits to NY, please post.

[pizzachang]

1 hour ago, ubonjoe said:

You do not have a New Your account of any kind. They do not have local accounts.You are going to need to change the account you have now to a direct deposit account or open another account that has to be direct deposit account or Bangkok Bank in New York will not process your SS payments.

Best to apply for the new direct deposit account. Then when your SS payments come in you would need to go the bank to transfer the money into your other account.

When you opened your account did you do a SF1199A form to have your SS payment sent to your account?

You do not have a New Your account of any kind.   Funny, since I specifically asked for the direct deposit account in the New York Bangkok Bank.  I will visit the local branch again and ask for clarification.  I don't remember filling out the 1199A form at the local branch. Could I just send it by mail?

[pizzachang]

1 hour ago, ubonjoe said:

You apparently have a extension of stay based upon marriage not a non-o visa entry since you mention the 40k baht income requirement.

You will need show transfers going in to your account every month by way of a bank book or a statement from the bank. Then you will need a letter from the bank confirming your account is valid.

 

Thanks again.  Yes I do have the extension based upon marriage.  Since this is a new Immigration Order, just released, I am assuming that unless an applicant for marriage extension already had an account that complied with the new order, that it will be up to Immigration as to what will be accepted (as far as deposits of 40K into a Thai bank)  I'm trying to get these things conformed to the new Immigration order, because I have only used my ATM from my US bank previously. Much less confusing and less hassle for me as "electronically" there isn't any difference that is evident to me. I'm sure any US citizen receiving State or Federal pensions can easily prove they could access those funds legally and almost anywhere in the world.

[mok199]

Regarding DD ,have any Canadians used the BKK Bank Direct Deposite for CPP with success..????

[pizzachang]

This on the Bangkok Bank's New York website:

The US Treasury Department has ceased issuing paper cheques for the payment of Federal retirement benefits such as pensions, annuities or payroll, including Social Security and Veterans Affairs payments, and now requires direct deposit of your benefit into your bank account. You will therefore need to notify the US government agency providing your Federal benefit how you wish to receive payments.

As Bangkok Bank is the only provider in Thailand offering a direct deposit services into a Thai bank account, you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches).

Since your transactions are transmitted to us as an ACH transaction and process the bank is required to comply with the rules and formats developed by the Electronic Payments Association (NACHA).  The International ACH (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 screen them in compliance with Office of Foreign Assets Control (OFAC) requirements.  The NACHA rules require Bangkok Bank’s New York branch, which serves as an intermediary, to ensure that payments that we receive and that are transmitted to the account of a beneficiary in another country are appropriately classified as IATs. To do this we need to obtain information as described below to the relevant US government agency to your transactions in the IAT format.

[lopburi3]

2 minutes ago, pizzachang said:

I'm sure any US citizen receiving State or Federal pensions can easily prove they could access those funds legally and almost anywhere in the world.

No not easily for most of us to prove it as US Embassy would be the signing authority and they refuse to do so.  So now it must be cash deposited into a Thai bank account each month.  Yes Immigration can make exceptions this year for those that do not have 12 months to show but what they want is confirmation from Thai banks and in future this seems to be the only thing they will accept (next calendar year) from those whose Embassy will not provide letters of income. 

 

As for you bank account - the first 3 digits of Bangkok Bank account indicate location of account - so if you compare your account to another from same bank am sure they will be the same - New York is just a transit point making it easier for direct payment.

[pizzachang]

So, from the above information, any Social Security Pension Benefit recipient living in Thailand should find this a simple process.  

1. Apply for the direct deposit account in New York, at any main Bangkok Bank branch.

2. Visit the Treasury Department's website and fill out the change of direct deposit form, designating your account number issued when you applied for the d.d. account at your local Bangkok Bank branch.

This takes about 2 to 3 months according to the Treasury Dept website.

Nothing I received stated charges for transferring funds to Thailand, although I assume there will be fees.

[pizzachang]

4 minutes ago, lopburi3 said:

No not easily for most of us to prove it as US Embassy would be the signing authority and they refuse to do so.  So now it must be cash deposited into a Thai bank account each month.  Yes Immigration can make exceptions this year for those that do not have 12 months to show but what they want is confirmation from Thai banks and in future this seems to be the only thing they will accept (next calendar year) from those whose Embassy will not provide letters of income. 

 

As for you bank account - the first 3 digits of Bangkok Bank account indicate location of account - so if you compare your account to another from same bank am sure they will be the same - New York is just a transit point making it easier for direct payment.

Social Security issues a "statement of proof"  Also issues a yearly statement of benefits. 

 you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches).  Lopburi, is there something I'm missing in this statement from the New York branch?  

[lopburi3]

Living in Thailand requires that you process SS through the Manila Embassy SS office AFAIK.  The current issue is that SS is sending in both international and domestic to Bangkok Bank New York and effective April 1 any in domestic will be rejected - so kind of important for people to be aware and they will probably want to confirm.  A third wheel is that Thailand has just been approved for direct deposit but no details on how it will work.  

[lopburi3]

1 minute ago, pizzachang said:

Social Security issues a "statement of proof"  Also issues a yearly statement of benefits. 

Immigration does not want to see any such paperwork as they have no way to confirm it is not made at home with photoshop.  It is a requirement they hand to your Embassy and US Embassy does not do any such confirmation (likely due to US privacy laws as well as there mandate).  So yes if you do not meet the monthly deposits this year be sure to have that with you - but in future only band deposits seem to be what will be accepted.

 

5 minutes ago, pizzachang said:

you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches). 

You seem to have missed the "route" part earlier - it is not a New York account you have - and obviously bank did not understand you if they provided an ATM card as that is not the type of account required.

[ubonjoe]

21 minutes ago, pizzachang said:

1. Apply for the direct deposit account in New York, at any main Bangkok Bank branch.

2. Visit the Treasury Department's website and fill out the change of direct deposit form, designating your account number issued when you applied for the d.d. account at your local Bangkok Bank branch.

1. The account will be here not in New York. The branch in New York only receives your payments and transfers them to your account here. They will deduct a $5 to $10 fee dependent upon the amount before doing the transfer. Then the fee for here will be ducted when it is credited to your account.

2. When you open the account you will need a completed SF1199A form to give them.

Download: https://www.gsa.gov/cdnstatic/SF1199A-12a.pdf?forceDownload=1

Bangkok Bank will the send the form by email to the SSA office in Manila for them do setup the new direct deposit.

 

 

 

[pizzachang]

4 minutes ago, lopburi3 said:

Living in Thailand requires that you process SS through the Manila Embassy SS office AFAIK.  The current issue is that SS is sending in both international and domestic to Bangkok Bank New York and effective April 1 any in domestic will be rejected - so kind of important for people to be aware and they will probably want to confirm.  A third wheel is that Thailand has just been approved for direct deposit but no details on how it will work.  

Not sure at all about Manila, since all my SS deposits were always into a US Bank and I just used my ATM to access. (much simpler and my bank didn't even charge a fee for "foreign transaction" so only had the Thai bank fee) April 1st seems to be the change to the [The International ACH (IAT)

[Danthai]

If you got a ATM card when you opened your BKK bank account it is not a direct deposit account. As explained to me in Chiangmai I must open another account with ATM. Better check. A direct deposit account comes with no bells and whistles. Myself. I will withdraw and deposit into my SCB that has ATM and Prompt pay. No benefit to a direct deposit account is you get the bank book only. 

[pizzachang]

Lopburi 

The relevant agency is the Treasury Department and I filled and submitted the change of direct deposit form on their website.  The date they provided for this to take effect was April 1st. I guess what I don't know, is will the account number provided by my local branch be accepted by the New York branch.  The local branch provided the routing number for New York because I asked to apply for the Direct Deposit account for New York.