Interesting find

[jimmyyy]

So I bank with NFCU in the USA.  It had been taking a few days to transfer funds from America using Bangkok bank, then they told me that I should try Kasikorn as both Navy Fed CU and Kasikorn use Wells Fargo as there intermediary bank.  My last two swifts have taken less than 2 hours to arrive and be available in my account at Kasikorn.  Just a idea for people who are eligible for NFCU or simply use Wells Fargo.  My SWIFTS are 25.00 USD each. 

[Pib]

When you were transferring to Bangkok Bank were you also using SWIFT like your transfer to Kaiskorn?  Or were you using ACH for your transfers to Bangkok Bank? 

 

Since Bangkok Bank is the only Thai bank with "ACH" receiving capability, most people have used the ACH transfer system to transfer funds to Bangkok Bank since it a lot cheaper.  But ACH is a "batch/slower" system....takes a few days for funds to transfer in comparison to the pricer SWIFT which can do it in as little as a few hours.   

 

You can also do SWIFT transfers to Bangkok Bank just in case you were using ACH before.

 

 

 

 

[Blue Muton]

No offence intended, but I'm just off to check my dictionary's definition of the word "interesting".

[Fat Prophet]

10 minutes ago, Pib said:

When you were transferring to Bangkok Bank were you also using SWIFT like your transfer to Kaiskorn?  Or were you using ACH for your transfers to Bangkok Bank? 

 

Since Bangkok Bank is the only Thai bank with "ACH" receiving capability, most people have used the ACH transfer system to transfer funds to Bangkok Bank since it a lot cheaper.  But ACH is a "batch/slower" system....takes a few days for funds to transfer in comparison to the pricer SWIFT which can do it in as little as a few hours.   

 

You can also do SWIFT transfers to Bangkok Bank just in case you were using ACH before.

 

 

 

 

Is ACH transfer to an account at BB in Thailand via its NY office still available? I was under the impression (hopefully incorrect) that the ACH option was no longer available after April 2019 and that now other options with money transfer services were now being explored. Thanks.

[jimmyyy]

IACH takes 2 to 3 business days to Bangkok Bank, at least for me it always did.  Yes, i pay 25.00 once a month, but its done and over with in 2 hours. 

[jimmyyy]

I was using ACH with Bangkok bank and now i use SWIFT to Kasikorn.

[OneMoreFarang]

1 hour ago, Blue Muton said:

No offence intended, but I'm just off to check my dictionary's definition of the word "interesting".

That's interesting.

[johng]

dictionary's definition of the word "interesting".

It will be near the "Steve Davis" 1980's snooker world champion entry.

[Pib]

Is ACH transfer to an account at BB in Thailand via its NY office still available? I was under the impression (hopefully incorrect) that the ACH option was no longer available after April 2019 and that now other options with money transfer services were now being explored. Thanks.

Still working for non-IAT transfers as Bangkok Bank announced they will try to continue to allow non-IAT transfers thru 30 Jun. They apparently got an extension from the US Treasury.

[Pib]

IACH takes 2 to 3 business days to Bangkok Bank, at least for me it always did.  Yes, i pay 25.00 once a month, but its done and over with in 2 hours. 

Yes, ACH to Bangkok Bank takes 1 to 3 business days with your sending bank being the biggest factor in how fast the funds "really" get sent. My US bank (USAA) transmits ACH tansfers quickly and they arrive Bangkok Bank in 1 or 2 business days. In fact the last 2 ACH transfers posted in less than 20 hours. Now if I use SWIFT from
USAA the funds would probably arrive in a few hours but USAA charges $45 for an International wire.

[scoutman360]

10 hours ago, Pib said:

Yes, ACH to Bangkok Bank takes 1 to 3 business days with your sending bank being the biggest factor in how fast the funds "really" get sent. My US bank (USAA) transmits ACH tansfers quickly and they arrive Bangkok Bank in 1 or 2 business days. In fact the last 2 ACH transfers posted in less than 20 hours. Now if I use SWIFT from
USAA the funds would probably arrive in a few hours but USAA charges $45 for an International wire.

Another disadvantage with the BBank ACH transfer method is the domestic bank's daily ACH transfer limits. My bank has limits that make it, overall, more expensive than a swift for a larger amount.

 

Regarding Kasikorn, I keep my account open there because they have been the most foreigner friendly bank when it comes to international transfers. Less red tape, simple, and my transfers have appeared in 24 hrs.

[DaRoadrunner]

Related topic:- Don't forget to keep a copy of the Tor Tor 3 from the bank. You may need it if you ever want to transfer the money back out again. Now that is interesting.