Can you still transfer money from USA to Bangkok Bank

[rddryden]

I read a few months ago after April first you could not transfer funds through the New York branch of Bangkok Bank.  I Need to transfer some money And wanted to know if it is still possible.

 

does anyone have any information on this?

Edited May 28, 2019 by rddryden

[pgrahmm]

I've done it using a Swift code....The code goes to BKK bank, Bangkok then into my account number....BKKBTHBK is the Swift code....

 

I also have a SCB account & transferred a small amount of money the same way, as a backup trial balloon, but haven't followed up via ATM to see how it went through.....It's basically an old account I've under used but might be valuable for a back up....

[Delight]

 Suggest that you test using transferwise

https://transferwise.com/gb/send-money/send-money-to-thailand

 With this system your money will end up into a USA bank account

Transferwise in Thailand will carry out a internal transfer in Thailand-to your bank account.

Being internal there are no fees .

They offer interbank rates.

You just pay them a fee for the total service

Very simple.

Their security is very tight.

They will insist on a photo of you carrying your passport.

The passport detail has to be visible. I succeded on my 2nd attempt.

Good luck

Edited May 28, 2019 by Delight

[how241]

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

[bipper]

55 minutes ago, how241 said:

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

Transferwise are significantly cheaper than Bangkok Bank rates for any amount and the exchange rate is way better too. Silly.

Edited May 28, 2019 by bipper

[how241]

14 minutes ago, bipper said:

Transferwise are significantly cheaper than Bangkok Bank rates for any amount and the exchange rate is way better too. Silly.

Check again and you will find Transferwise is MANY times more expensive for large transfer amounts .  They will charge $100-$200 or more as the transfer amount go into the thousands.  Bangkok bank has fixed fees  $10-$20  up to 50K...BUT  Transferwise will give you a Much better exchange rate.   Moot point as Bangkok Bank will stop on June 30.

[friendphil]

1 hour ago, how241 said:

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

I haven't found that to be the case at all (that they quickly charge more than Bangkok Bank).  I just went to Transferwise site, plugged in 100,000 baht for the amount to be received in Thailand, and (from the US) the fees would be about $26.00.  The exchange rate would be 31.77 baht per USD. Here is a copy and past from XE.com "

27 May 2019 08:30 UTC - 28 May 2019 08:35 UTC

 

USD/THB close:31.77066 low:31.75192high:31.84350" . 

 

 The amount sent in this hypothetical case is $3,174.47, and the total fees would be $26.85.  That's less than 1% for the fees, and getting the full exchange rate.  From my experience, that's one helluva savings over the banks.  

Edited May 28, 2019 by friendphil
to add a link

[friendphil]

IN fact, Transferwise gives an incentive to share your experience with others.  Please use this link if you care to give this service a try, and both you will save on your first transfer.  

transferwise.com/u/philipl89

[Berkshire]

32 minutes ago, how241 said:

  Moot point as Bangkok Bank will stop on June 30.

BKK Bank isn't eliminating all transfers, only domestic ACH transfers.  Wire transfers can still be sent from your USA bank through the BKK Bank in NY onwards to Thailand.  I'll still be sending ACH transfers past 30 June just to see if they've followed through.    

[chilidog]

If you go back and read the letter they sent you I believe it has something to do with US social security. I make 3-4 transfers a month with no issues.

[QPRFC]

Also compare rates to OFX.com they are excellent too. 

[Siameaze]

I sent the Bangkok Bank registered letter to Social Security in the Philippines in May. I did advise SSA of the need for continuous, regular monthy FTT deposits to satisfy immigration. Their reply was that they were working on a number of direct deposit issues. I will contact SSA Phillipines in early June to see if there is a resolution. If nothing is conclusive, I will switch back to direct deposit to a US account and do a SWIFT transfer.  

[Neocon]

I successfully transferred $5K last week from my US bank account to my BBL account via US domestic ACH.  Funds transfer ordered on Tues, deposited in my BBL account Thurs.  I will do the same next month but am cognizant of the 30 June deadline.

[APJ291]

34 minutes ago, friendphil said:

IN fact, Transferwise gives an incentive to share your experience with others.  Please use this link if you care to give this service a try, and both you will save on your first transfer.  

transferwise.com/u/philipl89

And I presume you will

be one more new TransferWise member away of making your first referral reward depending on the currency you use... £ used for demo purposes...  

 

 

[how241]

53 minutes ago, friendphil said:

I haven't found that to be the case at all (that they quickly charge more than Bangkok Bank).  I just went to Transferwise site, plugged in 100,000 baht for the amount to be received in Thailand, and (from the US) the fees would be about $26.00.  The exchange rate would be 31.77 baht per USD. Here is a copy and past from XE.com "

27 May 2019 08:30 UTC - 28 May 2019 08:35 UTC

 

USD/THB close:31.77066 low:31.75192high:31.84350" . 

 

 The amount sent in this hypothetical case is $3,174.47, and the total fees would be $26.85.  That's less than 1% for the fees, and getting the full exchange rate.  From my experience, that's one helluva savings over the banks.  

Your right !!!    It's a very good rate and deal.   Thanks

[pgrahmm]

Now that Transferwise has been brought up - what is the average turn around time from inception to receipt/delivery....

[connda]

2 hours ago, how241 said:

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

I keep hearing "Transferwise" but reading their site 'sending' money requires that you 'send' money to them by way of using a domestic wire transfer, Swift transfer, or debit/credit card.  The debit/credit card route is relatively expensive as you incur transaction fees from your own bank along with transfer limits; and my own banks require that both domestic and Swift transfers by initiated in person at the bank.  That may not be the case for some using Transferwise, but it is in my case.  I've got to admit, that is one thing that is easier to do at a bank in Thailand - domestic transfers.

So I don't see how it works if your not living in the US and sending money in person.  
Perhaps those using Transferwise  have Borderless Accounts with Transferwise.  I haven't been able to understand how that works.  I don't see why Transferwise if they are a licensed financial services company operating the in the US can't simply debit my checking account at my request and send those funds to Thailand.  My credit card company can do that.  My insurance company can do that.  Why not Transferwise?

To the OP.  I read in other posts that you can still do ACH transfers up until June 30 although BKK Bank gives no guarantees.   

[APJ291]

31 minutes ago, pgrahmm said:

Now that Transferwise has been brought up - what is the average turn around time from inception to receipt/delivery....

Usually TransferWise specify 2 working days ie 48hrs...

 

I have used them quite a few times (UK primary account) and can vouch for that as long as this is completed during the working week Mon - Fri.  If you send on a Thursday you will receive on the following Monday and if you send on a Friday you will receive on the following Tuesday as weekends (Sat & Sun) are not included.

 

Best bet is to always send on a Sun (receive Tuesday earliest) or Wednesday (receive Friday latest) on any given week barring any national holidays.

 

Most of the information is available on their FAQs on the TransferWise website.

Edited May 28, 2019 by APJ291
Spelling

[how241]

6 minutes ago, connda said:

I don't see why Transferwise if they are a licensed financial services company operating the in the US can't simply debit my checking account at my request and send those funds to Thailand.

They can.  When you finish the reg.  process you will be able to do that.

[WalkingOrders]

I have been using the same ny bangkok bank routing for over 3 years now. I used to do the xfrs myself from a US bank.A few months ago changed my account to direct deposit and US treasury check goes direct to bangkok bank as of now. No issues.

[DogNo1]

If your funds transfer needs to show a foreign source, it is safer to do an international wire transfer to Bangkok Bank from your US bank.  My transferred funds show up in my Bangkok Bank on the same day (if it is a weekday) and are posted as “FTT.”  My Fidelity transfers cost me $30 regardless of the amount.  Bangkok Bank only charges me 200 baht on their end.  

[nitehawk42]

Yes you can.

Bangkok has a routing number just like US banks and your BBK Bang account number is all you need to transfewr directly from US bank to your account at BBK Bank.

have been doing it for years.

[connda]

1 hour ago, how241 said:

They can.  When you finish the reg.  process you will be able to do that.

I don't see where or how.  Via a Borderless account?  

[connda]

13 minutes ago, nitehawk42 said:

Yes you can.

Bangkok has a routing number just like US banks and your BBK Bang account number is all you need to transfewr directly from US bank to your account at BBK Bank.

have been doing it for years.

And you are going to be surprised pretty soon when it stops working.

[rickb]

3 hours ago, friendphil said:

I haven't found that to be the case at all (that they quickly charge more than Bangkok Bank).  I just went to Transferwise site, plugged in 100,000 baht for the amount to be received in Thailand, and (from the US) the fees would be about $26.00. 

You are correct that the TransferWise rate is not much when transferring a small amount.  You tried 100,000 baht and the rate was $26 only.  But that is a relatively small amount, less than $3,000.  If you want to transfer $50,000, the TransferWise rate would be $287, whereas as how241 said, you pay a fixed amount of around $20 to transfer up to $50,000 using a SWIFT transfer.  So there is a difference when the amount you are transferring is significant (in the thousands of dollars).  

[55Jay]

31 minutes ago, connda said:

I don't see where or how.  Via a Borderless account?  

It's an ACH "hard pull" from the US account you designate. 

 

Below is a screen shot showing the different options to fund the transfer.  After this step, they confirm the bank acct to pull it from, in my case a linked Schwab checking account, and then the transfer process begins. 

 

This was just a notional $1,000 transfer, which I cancelled after taking the screen shot.

 

Edited May 28, 2019 by 55Jay

[rddryden]

Thanks for all the information!  My question has been answered. 

[Suradit69]

8 hours ago, Delight said:

With this system your money will end up into a USA bank account

 

He wants to send money to Thailand. The hint was in the thread title.

 

Quote

Can you still transfer money from USA to Bangkok Bank

 

[Suradit69]

2 hours ago, nitehawk42 said:

Yes you can.

Bangkok has a routing number just like US banks and your BBK Bang account number is all you need to transfewr directly from US bank to your account at BBK Bank.

have been doing it for years.

They announced that that facility was ending because the US government wanted transfers out of the US to indicate that they were international and not appear to be domestic transfers.

 

Actually I think they said they were ending ACH transfers in April, but they may have delayed cutting the service off.

 

There are some ways, like US government direct deposits, that you can still use and Bangkok Bank NY can act as a correspondent bank for SWIFT transfers.

 

Suggest you read their information page regarding transfers and the ACH IAT method.

 

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

Edited May 28, 2019 by Suradit69

[how241]

2 hours ago, connda said:

I don't see where or how.  Via a Borderless account?  

Yes,  borderlessss acct.  Another poster already explain.  Here is a quote from their customer service. " I would recommend trying to set up a transfer of USD to THB by clicking on the "send money" button in your activity page. You will then be asked to entered the details for your Thai account. On the last step you will have the payment methods, I would recommend the bank debit(ACH) method. It's convenient and cheap, however, a little bit slower and for your first transfer it may take a bit longer than normal."