From the US Embassy website Today April 18th

[Pib]

21 hours ago, pizzachang said:

I received my SS to the "direct account" , went inside the bank and transferred the funds to my local account(ATM/savings) today.  No fees of any kind.  No "Transferwise" or SWIFT code. In Thai baht.  Now, I am assuming that simply filling out another 1199a  at my local Bangkok Bank might eliminate the NY branch.  I couldn't check today, since the bank officer who is in charge of that, wasn't in. This is the same person who set up my NY branch account, so I'll post again after speaking with them.

No NY branch account was setup for you.  Only the NY branch routing number was used to route the funds to your in-Thailand Bangkok Bank account. 

 

Additionally, where you say no fees, if you mean when transferring from your direct deposit account to your regular account then yes, that is free.  However, if your mean the US govt payment was received free that is not correct as two fees are applied....the NY branch flow-thru fee and the in-Thailand branch receiving fee. Both of these fees are applied "before posting to your account" and are not reflected anywhere on your account which fools some folks into thinking no fees were applied but indeed they were. 

 

Example: for a transfer of say $1900 as those funds flowed thru the NY branch they would have sliced off a $5 fee (at one penny over $2,000 the fee is $10)....$1895 continues on to your in-Thailand branch where a 0.25% (Bt200 min, Bt500 max) fee is applied.  And to repeat, both of these fees are applied before posting...will not appear on your ibanking statement or passbook.  However, if you are signed up for the free SMS Remittance Alert that alert will show the 0.25% (Bt200 min, Bt500 max) fee which would be Bt200 for this example and you can see the amount you originally sent arrived minus the NY branch fee. 

 

[AAArdvark]

57 minutes ago, Sheryl said:

 So, maybe the member's 3 May payment will arrive via IDD assuming it was processed before whatever monthly cutoff I'm sure the payment system utilizes.

I recently moved by bank details from one bank in the US to another bank in the US and that took a full 3 payment cycles for it to take place.

[AAArdvark]

I still do not understand the benefits of doing the direct deposit to a Thai bank, unless that deposit equals at least 65K.  Anything under that would still require an additional alternative  transfer. 

Edited April 27, 2019 by AAArdvark

[lopburi3]

2 minutes ago, AAArdvark said:

I still do not understand the benefits of doing the direct deposit to a Thai bank, unless that deposit equals at least 65K.  Anything under that would still require an additional alternative  transfer. 

Yes but the direct government pay deposit should be accepted by immigration without the worry that they may not accept as a foreign transfer because it was not logged as such.  It may also be a bit larger amount not subject to fees (but at this time we do not know the exchange rate that will be used so just speculation).  

[AAArdvark]

2 hours ago, lopburi3 said:

Yes but the direct government pay deposit should be accepted by immigration without the worry that they may not accept as a foreign transfer because it was not logged as such.  It may also be a bit larger amount not subject to fees (but at this time we do not know the exchange rate that will be used so just speculation).  

But that is my point.  Even if the SSA deposit is accepted as a foreign transfer, there would still be, in most cases, another transfer required to meet the 65K required.  If immigration is going to check for foreign transfers, they would all need to be foreign transfers.

Lets say the SSA payment is $2000.00 (which is considerably higher than average) that would mean about 62.2K meaning that a non-direct deposit of about 3K would be needed using something like transferwise.  So for me, it is just as easy to send SSA to my US bank and make one international transfer.  I would have to see the details of the differences in fees etc. are worth the effort. Transferwise, at this time, would mean a payment of $2054.00 to get the 65K.   

[Pib]

2 hours ago, AAArdvark said:

I still do not understand the benefits of doing the direct deposit to a Thai bank, unless that deposit equals at least 65K.  Anything under that would still require an additional alternative  transfer. 

Simplicity...whether you are doing it just because you need to get day-to-day living money somehow or you need it for the new Thai immigration monthly income/transfer rule.  Tthe money just appears each month in your bank account....you don't have to worry about doing anything....whether your alive & well or in a coma in the hospital the money just arrives.  Don't need to use a US bank....don't need to use a money transfer service like Transferwise....nor worry about our bank or money transfer service deciding one day they can't do the transfer for you anymore...cancel/suspend your account.

[marcusarelus]

3 minutes ago, AAArdvark said:

But that is my point.  Even if the SSA deposit is accepted as a foreign transfer, there would still be, in most cases, another transfer required to meet the 65K required.  If immigration is going to check for foreign transfers, they would all need to be foreign transfers.

Lets say the SSA payment is $2000.00 (which is considerably higher than average) that would mean about 62.2K meaning that a non-direct deposit of about 3K would be needed using something like transferwise.  So for me, it is just as easy to send SSA to my US bank and make one international transfer.  I would have to see the details of the differences in fees etc. are worth the effort. Transferwise, at this time, would mean a payment of $2054.00 to get the 65K.   

I get government 2 checks.  1 from SS and 1 from VA.  Both deposited in my Bangkok Bank direct deposit account every month.  My only job is once a year send in the proof of life form.  I send it every year even if they don't send it to me.  I keep a blank one.  

Edited April 27, 2019 by marcusarelus

[AAArdvark]

15 minutes ago, marcusarelus said:

I get government 2 checks.  1 from SS and 1 from VA.  Both deposited in my Bangkok Bank direct deposit account every month.  My only job is once a year send in the proof of life form.  I send it every year even if they don't send it to me.  I keep a blank one.  

And they are using IDD and not ACH?

Edited April 27, 2019 by AAArdvark

[lopburi3]

16 minutes ago, AAArdvark said:

But that is my point.  Even if the SSA deposit is accepted as a foreign transfer, there would still be, in most cases, another transfer required to meet the 65K required.

Yes but small and you likely have enough reserve so you could still send another if first attempt was received as domestic or make an expensive SWIFT to be sure..

[marcusarelus]

4 minutes ago, AAArdvark said:

And they are using IDD and not ACH?

Using IAT. 

[AAArdvark]

2 minutes ago, lopburi3 said:

Yes but small and you likely have enough reserve so you could still send another if first attempt was received as domestic or make an expensive SWIFT to be sure..

Not really about the foreign transfer acceptance.  Its about the 65K needed each month so reserve would have nothing to do with this. 

I am simply saying that I currently send my SSA deposit to a US bank.  My other pensions and annuities go to that same bank.  I make one transferwise transfer for 100K every month.  Moving just the SSA to this new IDD method does not do much for me and many others.  One automatic direct and one manual transfer vs one manual transfer.  Again I do not know the actual costs with the two transfers. 

[marcusarelus]

1 minute ago, AAArdvark said:

Not really about the foreign transfer acceptance.  Its about the 65K needed each month so reserve would have nothing to do with this. 

I am simply saying that I currently send my SSA deposit to a US bank.  My other pensions and annuities go to that same bank.  I make one transferwise transfer for 100K every month.  Moving just the SSA to this new IDD method does not do much for me and many others.  One automatic direct and one manual transfer vs one manual transfer.  Again I do not know the actual costs with the two transfers. 

What if Immigration wants to see pension deposits? 

[AAArdvark]

4 minutes ago, marcusarelus said:

What if Immigration wants to see pension deposits? 

You have two government deposits going through/ Bangkok Bank.  Most of us do not.  I can prove, with copies of statements from where my money from.

To the best of my understanding, while what you are doing is working it is not the new just implemented IDD which is what this thread is about.  Also, a few posters here have said that Bangkok Bank has not yet implemented the requirement for IAT.  What people have been doing for years is not what is being talked about here.

[marcusarelus]

1 minute ago, AAArdvark said:

You have two government deposits going through/ Bangkok Bank.  Most of us do not.  I can prove, with copies of statements from where my money from.

To the best of my understanding, while what you are doing is working it is not the new just implemented IDD which is what this thread is about.  Also, a few posters here have said that Bangkok Bank has not yet implemented the requirement for IAT.  What people have been doing for years is not what is being talked about here.

I called Bank of Bangkok NYC and got the lady in charge of SS and she checked and told me both of my deposits were IAT.  When I get the statement from the bank for 12 months  for immigration that will also specify SS I think = I get it next week.  My SMS says Social Security Administrator has transferred xxxxxxxx

[Pib]

On 4/26/2019 at 4:43 PM, Pib said:

 

Never fails....I got a Manila clarification/response shortly after posting above.   Partial quote follows: "...we just recently received the instructions to implement the IDD for Thailand."   

 

The response went on to say my family member's IDD for Thailand enrollment form had recently been processed.  So, maybe the member's 3 May payment will arrive via IDD assuming it was processed before whatever monthly cutoff I'm sure the payment system utilizes.

 

 

Family member's got her SSA payment today....still in ACH "IAT" format....I called Bangkok Bank to confirm whether the payment arrived via ACH or SWIFT.   I was 99% sure of what the answer was going to be before calling because the free SMS Remittance text and ibanking description was identical to last month's payment and same receiving fee plus the exchange rate was Bangkok Bank's TT Buying Rate for today versus an IDD rate.   

 

So, either Manila processed the family member's IDD form too late in April to meet the month's payment cutoff date for changes or Manila just told me a fib.   I give either an equal change of being case.

[AAArdvark]

4 hours ago, Pib said:

Family member's got her SSA payment today....still in ACH "IAT" format....I called Bangkok Bank to confirm whether the payment arrived via ACH or SWIFT.   I was 99% sure of what the answer was going to be before calling because the free SMS Remittance text and ibanking description was identical to last month's payment and same receiving fee plus the exchange rate was Bangkok Bank's TT Buying Rate for today versus an IDD rate.   

 

So, either Manila processed the family member's IDD form too late in April to meet the month's payment cutoff date for changes or Manila just told me a fib.   I give either an equal change of being case.

How does someone check to see that the payment was sent using IAT format, is it noted somewhere?

 

And, I have said this before, while in the US, I changed my bank from one US bank to another US bank with SSA and got a confirmation.  It took 3 payment cycles to get the deposit in my new bank.  It would not be difficult, at all, to imagine that it could take several payment cycles to actually accomplish the IDD.

[Pib]

1 hour ago, AAArdvark said:

How does someone check to see that the payment was sent using IAT format, is it noted somewhere?

 

And, I have said this before, while in the US, I changed my bank from one US bank to another US bank with SSA and got a confirmation.  It took 3 payment cycles to get the deposit in my new bank.  It would not be difficult, at all, to imagine that it could take several payment cycles to actually accomplish the IDD.

Ask Bangkok Bank.  Either call them at one of below phone numbers which are HQ Bangkok Bank numbers....below cut and paste is from their 1 Oct 18 memo on the IAT goatrope.  Or email/call the NY branch at below cut and paste.  You will need to provide your name, account number and approx amount/date of deposit when contacting them.  Ask them if the deposit was in IAT format or not.

 

And if you are receiving the Bangkok Bnak free SMS Remittance text an IAT format SSA direct deposit will start off by saying "Social Security Administrator" whereas a non-IAT deposit will start off by saying "SSA Treas 310."

 

 

Call HQ Bankgok Bank....English speaking reps at below numbers.

 

Contact Bankgok Bank New York....probably best to just use email.

Edited May 3, 2019 by Pib

[pizzachang]

[However, if your mean the US govt payment was received free that is not correct as two fees are applied]

Pib,  How do you know what my account is charged? I'm amazed.  Now, I have to admit that this deposit was my first IDD, and it is quite possible that a fee will be shown on my monthly statement, however the amount that appeared in my account in Thai baht, was exactly what I get each month when calculating the exchange rate + or - fluctuations.  So, at least for the first deposit, I'm happy with the process. Thanks for all your input and I'll be watching my statements for fees. 

 

[lopburi3]

52 minutes ago, pizzachang said:

[However, if your mean the US govt payment was received free that is not correct as two fees are applied]

Pib,  How do you know what my account is charged? I'm amazed.  Now, I have to admit that this deposit was my first IDD, and it is quite possible that a fee will be shown on my monthly statement, however the amount that appeared in my account in Thai baht, was exactly what I get each month when calculating the exchange rate + or - fluctuations.  So, at least for the first deposit, I'm happy with the process. Thanks for all your input and I'll be watching my statements for fees. 

 

1.  Post 88 says this was via New York so it was not IDD

2.  New York lists their fee on web - suspect for you $10 removed before sending to Thailand

3.  BBL collects a fee on receipt of .25% in the range 200-500 baht - spelled out on website.

4.  Your passbook entry or statement will not show any of this.  If you have SMS alert set it will be spelled out.

Edited May 4, 2019 by lopburi3

[Pib]

3 hours ago, pizzachang said:

[However, if your mean the US govt payment was received free that is not correct as two fees are applied]

Pib,  How do you know what my account is charged? I'm amazed.  Now, I have to admit that this deposit was my first IDD, and it is quite possible that a fee will be shown on my monthly statement, however the amount that appeared in my account in Thai baht, was exactly what I get each month when calculating the exchange rate + or - fluctuations.  So, at least for the first deposit, I'm happy with the process. Thanks for all your input and I'll be watching my statements for fees. 

 

Your deposit was "not" via the "International Direct Deposit (IDD)" program/system; it was via the Automated Clearing House (ACH) system.   IDD uses the SWIFT transfer system/codes; ACH uses the ACH transfer system/ABA bank codes like the Bangkok Bank New York branch ABA routing code you are using. 

 

Bangkok Bank does not produce monthly statements (nor most any other Thai bank) like you are use to with US banks.  All you can do is log onto your Bangkok Bank ibanking and do a query to display all transfers for whatever date range you enter in the query.   You can also ask for a statement at your home branch but it's nothing more than a query like you can do online yourself except the one you get from the branch will have a stamp and signature on the bottom.  Nope....generally Thai banks do not provide monthly statements like you are use to with US banks.

 

And as stated in my post 91 which your take a partial quote from, the two fees Bangkok Bank applies will "not" appear anywhere on your ibanking/statements/etc., as they are applied "before" posting to your account.   Snapshot at the bottom from the Bangkok Bank website show the fees. 

 

Here's the sequence of events/fees/determination of how much money gets posted to your Bangkok Bank account when your do an ACH bank transfer from your US bank to Bangkok Bank or you have a US govt benefit direct deposited to your account.   Let's say it a $1900 bank transfer or US govt pension payment.

 

1.  $1900 is transmitted to Bangkok Bank "New York" branch

2.  The NY branch slices off their fee which would be $5 for $1900 and then they forward $1895 to your in-Thailand Bangkok Bank branch

3.  Your in-Thailand branch receives $1895 where they use their "TT Buying Rate" of the moment to convert the dollars to baht.  Let's say the TT Buying Rate is 31.90 per USD.  1895 times 31.90 equals Bt60,450.50.  Now remember these funds have still not posted to your account

4.  The branch next applies the 0.25% (Bt200 min, Bt500 max) receiving fee to the 60,450.50 which gives a fee result of Bt151.13, but since it's below the minimum fee amount they round up to Bt200.  Remember this fee will not be posted/appear on your account.

5.  They subtract Bt200 from 60,450.50 which leaves Bt60250.50 which is now posted to your account.  That appears on your account; the two fees that were applied do not.  This fools a lot of people into thinking no fees were applied but indeed they were.

 

For a person trying to use their personal math to determine the exchange rate used they will never get it to match the actual TT Buying Rate used unless they applied the two fees in the sequence described above.  

 

If you enroll to receive the free SMS Remittance Alert that Bangkok Bank SMS will show the funds arriving "minus" they NY branch fee, it shows the exchange rate used, it shows the 0.25% (Bt200 min, Bt500 max) fee and the final amount posting your account on date/time XYZ.

 

 

 

 

[AAArdvark]

35 minutes ago, Pib said:

Your deposit was "not" via the "International Direct Deposit (IDD)" program/system; it was via the Automated Clearing House (ACH) system.   IDD uses the SWIFT transfer system/codes; ACH uses the ACH transfer system/ABA bank codes like the Bangkok Bank New York branch ABA routing code you are using. 

 

 

 

 

 

Thank you for a very informative post.  I have seen multiple posts where it appears people are confused with the difference between ACH through the Bangkok Bank NY and IDD with at least one claiming they have been doing IDD for years.

[Rhys]

Any services to process SS benefit for those feed up with process?

[pizzachang]

Anyone know if it is possible to transfer money from a US bank account to the Bangkok Bank New York branch? If it is possible, what are the methods?

[Jingthing]

4 minutes ago, pizzachang said:

Anyone know if it is possible to transfer money from a US bank account to the Bangkok Bank New York branch? If it is possible, what are the methods?

If you're talking from a normal U.S. bank account, yes my current understanding is that you could do that with a domestic wire transfer. The old ACH method probably won't work anymore unless it is coded as an international ACH which it won't be from a normal U.S. bank account. Cutting off domestic ACH transfers was supposed to have already happened but perhaps there has been a delay in that? Not sure. Or you could do an international SWIFT wire directly to Thailand. 

Edited June 4, 2019 by Jingthing

[pizzachang]

Jingthing,

Asking because the criteria for assigning the funds for monthly deposits needs to show that the money came from outside Thailand. Apparently electronic bank records showing this fact are not acceptable. I need to get money into my account to make up a very small shortfall on the monthly amount requirement and hoped it could be done by that method (or may have to find out if a SWIFT transfer will suffice, from my US bank to my Thai bank.

[pizzachang]

On 6/4/2019 at 2:21 PM, Jingthing said:

Or you could do an international SWIFT wire directly to Thailand. 

If I use a SWIFT transfer, is that coded so that it is acceptable to Immigration?  I realize that it would be a different deposit coding than the deposit and in person transfer from Bangkok bank NY.  

[ubonjoe]

40 minutes ago, pizzachang said:

If I use a SWIFT transfer, is that coded so that it is acceptable to Immigration?  I realize that it would be a different deposit coding than the deposit and in person transfer from Bangkok bank NY.  

That would depend upon the sending and receiving bank.

Some banks in the states use a intermediary bank for the transfers which cause the coding to show a domestic transfer.

If it was transferred directly to your bank here it would be coded as a international transfer.