Can you still transfer money from USA to Bangkok Bank

[Pib]

6 minutes ago, NancyL said:

During the month of August and early September, as I did transfers between my U.S. credit union and various Bangkok Bank accounts using payees already set up, each one was accepted by Bangkok Bank, but the credit union received a notice from Bangkok Bank that they were in the incorrect format and would no longer be accepted in the future.  My credit union then disabled and wiped out the Bangkok Bank account from my online transfer list.  When I tried to set up a new transfer to a Bangkok Bank account, the credit union permitted it to be established, but Bangkok Bank refused the transfer.  

 

I have an acquaintance who banks with the United Nations credit union who just received a similar notice when trying to do his monthly transfer last week.  Bangkok Bank accepted it, but sent a notice to his credit union that it would no longer accept similar transfers in the future.

That is the ACH "Notice of Change" that Bangkok Bank is sending.  It's a capability within the ACH system. 

 

It's just a short code and sentence going back to the sending bank describing an ACH transfer they sent didn't have some required information...saying please correct for future transfers.  But if the Sending bank can't or do not want to send in a certain way the Sending bank will just deactivate your transfer link/reject further transfer attempts....you are just shutdown on your sending bank end.

 

And trying to reestablished the transfer link will not work since around May 2018 as Bangkok Bank started rejecting ACH trial deposits used to validate new transfer links unless the trial deposits were sent in IAT format.  

 

Yeap, the end is near for personal ACH transfers from a person's bank/credit union/brokerage/etc., unless IAT format is used which to date no one has been able to identity/confirm their bank/CU/brokerage uses IAT format to "send" transfers.  They can all "receive" IAT format no problem; it's just they don't "send" in IAT format.   

[bkk6060]

Chase Bank in US.

Initiated transfer on Oct. 1 received it today same as always listed as Ïnternational Transfer¨.

I guess there will be still another date for enforcement of the IAT coming in the future??

Not sure it is ever going to happen.

 

 

[Pib]

Seems Bangkok Bank NY is "selectively" enforcing their rule....only enforcing in when they fell like it.   Kinda like how Thai police enforce laws.

[chubby]

is there some final word,  on best available method  from 

Schwab, PenFed or Capitalone 360 -> BBL NYC branch 

 

can I still transfer from the links I created and used in 2018 ?  or  must I wire to the NY Branch?

 

or for < $500  it is preferable to use  transferwise

 

PS: I did read through a few threads, but I know things change, maybe the topic could get 'pinned'  thanks

[Pib]

16 hours ago, chubby said:

is there some final word,  on best available method  from 

Schwab, PenFed or Capitalone 360 -> BBL NYC branch 

 

can I still transfer from the links I created and used in 2018 ?  or  must I wire to the NY Branch?

 

or for < $500  it is preferable to use  transferwiseUS

 

PS: I did read through a few threads, but I know things change, maybe the topic could get 'pinned'  thanks

ACH transfers from your US bank/CU will be rejected unless transmitted in ACH IAT format....and no known US bank/CU uses IAT formt; they use the ACH Domestic format.   Apparently Bkk Bk finally got serious in Oct-Dec 2019 in rejecting ACH transfers not in IAT format, unless it was an govt benefit payment via ACH.   

 

Unless something has changed you can do a Domestic Wire to Bkk Bk NY and the NY branch will forward it on to your Thailand acct (did one test myself last year and it worked).  And of course an Int'l Wire will work..and Transferwise works.

Edited April 8, 2020 by Pib