Americans, Have You Received Your Virus Stimulus Check From Trump Yet?

[taxout]

Technically there are two routes that can be taken when you present an overseas check to a bank.

 

In the first, the bank "buys the check" and gives you immediate credit. See the language of the Bangkok Bank response above. Because there's a credit risk -- even U.S. Federal government checks aren't risk-free since they might be forged -- the bank needs to be satisfied with your standing as a customer.

 

In the second, the bank "sends the check for collection" and credits you after a period of time has elapsed. This varies by bank, but could be as long as six weeks. Of course it doesn't actually take that long for the Thai bank to receive payment on the check from the overseas bank. But if there's a problem with the check, the party that purportedly drew the check usually has a month or so to reject it, and that's the bank's justification, such as it is, for delaying final payment to you, that the check hasn't "finally cleared" until the period for rejecting it has lapsed.

 

[jimgilly]

I recently tried depositing a US government check at Bangkok Bank and wanted immediate deposit but they wouldn't do it because the check was for more than $500. 

 

I know I deposited checks for immediate deposit in the past for amounts well above $500 so they changed their policy which was confirmed when I called their home office.  It took about 40 days before the check cleared so just hope the exchange rate doesn't take a major dive if you have it sent to be cleared.

[Pib]

1 hour ago, jimgilly said:

It took about 40 days before the check cleared so just hope the exchange rate doesn't take a major dive if you have it sent to be cleared.

Of course anything can a happen with exchange rates, but usually it's just a slow oscillation up and down, 

 

As FYI the exchange rate given for checks is what Bangkok Bank and other banks call their Sight Bill/Cheque.  Depending on the bank it's usually around 0.1 to 0.2 baht lower than the TT Buying Rate used for incoming ACH/SWIFT transfers.

 

 

[Pib]

1 hour ago, jimgilly said:

I recently tried depositing a US government check at Bangkok Bank and wanted immediate deposit but they wouldn't do it because the check was for more than $500. 

Before Bangkok Bank greatly revamped their website around 5 years ago I remember how they had a section talking how they would buy "clean" bills (i.e., certain types of checks, drafts, high quality financial paper, etc) up to $500 and credit them to your acct immediately.   Otherwise, you had to wait X-weeks/months for them to clear.   But when Bangkok Bank changed to their new revamped website a lot of info, like info on cashing of checks, no longer appeared....it was like info on checks was devalued, not worth talking anymore since check usage has went way, way down over the years for personal use although some businesses apparently still deal with a lot of checks.

[taxout]

When the bank buys your check -- gives you immediate credit -- it applies the "sight" rate, so-called because it's buying the check immediately on presentation, that is it's buying it "on sight." The rate is traditionally a little less than the TT rate because the bank gets the funds from the overseas bank immediately in a TT transfer but has to wait a few days when it buys a check. Since the bank's already given you credit for the funds, there's thus a cost of funds element which the exchange rate differential recoups.

 

As to which exchange rate and what date a bank uses when it sends a check for collection, that may vary among banks.

 

 

[jimgilly]

1 hour ago, Pib said:

Before Bangkok Bank greatly revamped their website around 5 years ago I remember how they had a section talking how they would buy "clean" bills (i.e., certain types of checks, drafts, high quality financial paper, etc) up to $500 and credit them to your acct immediately.   Otherwise, you had to wait X-weeks/months for them to clear.   But when Bangkok Bank changed to their new revamped website a lot of info, like info on cashing of checks, no longer appeared....it was like info on checks was devalued, not worth talking anymore since check usage has went way, way down over the years for personal use although some businesses apparently still deal with a lot of checks.

So why didn't you post a $1200 check could not be credited immediately since it is over $500 and it has to be sent for collection? 

[Pib]

7 minutes ago, jimgilly said:

So why didn't you post a $1200 check could not be credited immediately since it is over $500 and it has to be sent for collection? 

Because the policy has changed over the years....and policy seems to vary from bank/branch....kinda like immigration offices.  TIT

[ubonjoe]

4 hours ago, jimgilly said:

I recently tried depositing a US government check at Bangkok Bank and wanted immediate deposit but they wouldn't do it because the check was for more than $500. 

Just saw this on their website.

[jimgilly]

1 hour ago, Pib said:

Because the policy has changed over the years....and policy seems to vary from bank/branch....kinda like immigration offices.  TIT

As I said, I called Bangkok to find out if there was a $500 limit on the option to have a check immediately deposited as was told yes.  So it is not a policy that varies with different branches - at least with the Bangkok Bank.  You seem to have quite a bit of knowledge so I was a bit surprised you were not aware of this.

 

It appears now based on what Ubonjoe posted, that any and all foreign checks will have to be sent for collection until further notice.  As with a number of issues that could be important, it is best to get current information directly from the source as information you may get on forums could be incorrect and/or outdated.

[orang37]

Please forgive me for reposting, and let me ask again to draw on your collective wisdom

 

0. receive regular monthly SS payments by direct deposit to Bkk Bank

 

1. long term expat in Thailand: no residence in USA. no dependents, no wife.

 

2. IRS non-filer for several years

 

My take-away from this thread is:

 

1. I can't use "get my payment"

 

2. the stimulus will be deposited to Bkk Bank the same way as the monthly payments.

 

3. there is no official news, yet, on when the stimulus payment will come for those in my status.

 

thanks for your time !

 

o:37;

 

 

Edited May 18, 2020 by orang37
memory recovered after alien abduction

[Pib]

3 minutes ago, jimgilly said:

As I said, I called Bangkok to find out if there was a $500 limit on the option to have a check immediately deposited as was told yes.  So it is not a policy that varies with different branches - at least with the Bangkok Bank.  You seem to have quite a bit of knowledge so I was a bit surprised you were not aware of this.

 

It appears now based on what Ubonjoe posted, that any and all foreign checks will have to be sent for collection until further notice.  As with a number of issues that could be important, it is best to get current information directly from the source as information you may get on forums could be incorrect and/or outdated.

Please review below post.  Info receive from Bangkok Bank via email today/this morning/18May20.

 

 

[ubonjoe]

20 minutes ago, orang37 said:

1. I can't use "get my payment"

2. the stimulus will be deposited to Bkk Bank the same way as the monthly payments.

3. there is no official news, yet, on when the stimulus payment will come for those in my status.

1. You can use it to find out if your payment has been done.

2. Yes

3. There has been but it is well past what was supposedly the official date.

As far as I know nobody has gotten it yet in your case and mine is the same.

[fredwiggy]

Like I mentioned earlier, a friend here, married, dependent child, filed single with child on non filers over two weeks after I did. He received his payment,but not yet for his child. I and others like me still haven't,

[khwaibah]

15 hours ago, ubonjoe said:

1. You can use it to find out if your payment has been done.

I know that my payment was mailed out May 1st. By contacting the IRS @ 2679411000 and talking with a live voice I was able to get information. The address it is being sent to is identical in every means to info that the IRS and SSA has on me. That same info is NOT accepted by get your payment.. That site may work for some but it does not work for all. If you wont info you need to make a call as imo that site is nfg.????????

[ubonjoe]

38 minutes ago, khwaibah said:

The address it is being sent to is identical in every means to info that the IRS and SSA has on me.

I can use the address shown on my SSA-1099. You have to shorten it down to less than 35 characters including spc aces. No city or province is needed or accepted.

The IRS has added operartors to contact about stimulas payments. https://www.irs.gov/newsroom/irs-adds-phone-operators-to-answer-economic-impact-payment-questions

[taxout]

But if you call that number in this thread -- and I just did -- you're told upfront to check the website which doesn't work and then presented with a long menu of irrelevant options. No generic "press O to speak with a representative" option.

[fredwiggy]

Just now, taxout said:

But if you call that number in this thread -- and I just did -- you're told upfront to check the website which doesn't work and then presented with a long menu of irrelevant options. No generic "press O to speak with a representative" option.

Others have gotten through, but now that's avoidance. Did you wait for the message to end for options or for an operator to come on the line?

Edited May 19, 2020 by fredwiggy

[taxout]

I went back to the main menu after listening to options that didn't apply. Then hung up, like they wanted me to. So if you just hang there for a while instead, you'll get an operator? Seemed to me it was designed by the same folks who toss you off the website for 24 hours if after three tries you can't get your address to match whatever in the world their records show. Anyway, too late to try again today.

[parallaxtech]

24 minutes ago, fredwiggy said:

Others have gotten through, but now that's avoidance. Did you wait for the message to end for options or for an operator to come on the line?

You can also press 4 for international callers and get a live person.

[taxout]

Does the recorded menu give you the generic "4" option? I was listening for something like that but never heard it. Or do you just have to somehow know it'll work?

[parallaxtech]

40 minutes ago, taxout said:

Does the recorded menu give you the generic "4" option? I was listening for something like that but never heard it. Or do you just have to somehow know it'll work?

When I called a week ago, it said go to the website for stimulus callers, then followed with 5 options.

[fredwiggy]

42 minutes ago, taxout said:

I went back to the main menu after listening to options that didn't apply. Then hung up, like they wanted me to. So if you just hang there for a while instead, you'll get an operator? Seemed to me it was designed by the same folks who toss you off the website for 24 hours if after three tries you can't get your address to match whatever in the world their records show. Anyway, too late to try again today.

Answers for most Economic Impact Payment questions are available on the automated message for people who call the phone number provided in the letter (Notice 1444). Those who need additional assistance at the conclusion of the message will have the option of talking to a telephone representative...................That's what it says. Wish I had a phone I could call with. I asked my daughter in the US to call for me tomorrow, hoping they can giver her an answer with my information, whether I was mailed a check or will get it by DD, which should have already come by now.

[taxout]

Are we going around in circles here because we're talking about different phone numbers? I'm talking about 267-941-1000, the general number for international inquiries, not a special number for stimulus payment questions.

[fredwiggy]

Just now, taxout said:

Are we going around in circles here because we're talking about different phone numbers? I'm talking about 267-941-1000, the general number for international inquiries, not a special number for stimulus payment questions.

WASHINGTON — Today, the Internal Revenue Service is starting to add 3,500 telephone representatives to answer some of the most common questions about Economic Impact Payments.

IRS telephone assistance and other services will remain limited, and answers for most of the common questions related to Economic Impact Payments are available on IRS.gov. The IRS anticipates bringing back additional assistors as state and local advisories permit.

Answers for most Economic Impact Payment questions are available on the automated message for people who call the phone number provided in the letter (Notice 1444). Those who need additional assistance at the conclusion of the message will have the option of talking to a telephone representative.      That's been the only number we've seen

[khwaibah]

18 minutes ago, taxout said:

Are we going around in circles here because we're talking about different phone numbers? I'm talking about 267-941-1000, the general number for international inquiries, not a special number for stimulus payment questions.

That is the number that forum member andy gave out and it is the number. You can see my response  

That other number was given to me the the first time and I played along.. It turned out to be computerized BS. I called back the second time to  2679411000 and  was able to get my answer. The first time I got through I am under the impression that the lady had not a clue and that is why she put me over to the 1-800 number. The second time the lady took her time with me AND was able to get results. Take your time and do not give up. That lady was able to confirm my name, ssa number, mailing address in Thailand.

 

This is from my post..

I just talked to the IRS on the number that forum member "andy" gave out. (Thanks again) It did take two calls but I was able to give and get info. The lady I talked to was in Pennsylvania. After she understood where I was and what I wanted she verified over the phone my name, my SS# and my Thai address. I was told that the check was mailed to me at my Thai address May 1. I did fill 2018 but not 2019. As for the the usage of the IRS sit here in Thailand I still say its is NFG and very politely I let her know that and she did confirm that they have problems. I don't look for the check any earlier than the ended of next week. My experience with depositing a US Government check was to Bangkok Bank 2008 and it was instantly accredited to my account. That number again 267-941-1000 Be patient and it does work.

Edited May 19, 2020 by khwaibah

[taxout]

IRS announced yesterday that it is now sending some people debit cards instead of checks. (It seems the government agency that actually issues the checks has a processing backlog and cards can be processed more quickly.)

 

According to this press release, cards are being sent to "qualified individuals without bank information on file with the IRS, and whose tax return was processed by either the Andover or Austin IRS Service Center." Most overseas returns are processed in Austin.

 

The card can apparently be used overseas, but there's a fee in that case. No indication whether overseas filers are "qualified individuals." Myself, I want just a check.

 

https://home.treasury.gov/news/press-releases/sm1012

https://www.eipcard.com/

 

EDIT: Looking at the card details, it seems you can transfer the balance on the card to your U.S. bank account online free of charge.

Edited May 19, 2020 by taxout

[fredwiggy]

 That wouldn't pertain to me as I used their non filers site to enter my information anyway because I haven't filed in over two years. That's why I used their non filers site so I could enter my child's information and bank account info.

Edited May 19, 2020 by fredwiggy
Addition

[ubonjoe]

1 hour ago, taxout said:

Are we going around in circles here because we're talking about different phone numbers? I'm talking about 267-941-1000, the general number for international inquiries, not a special number for stimulus payment questions.

The is now a number just for stimulus payments. Toll free: 1-800-919-9835

Used Skype to call and just got the menu for it since I am sure nobody is available now in the US.

[MyTHaiMyKe]

I went to BANGKOK BANK on 2nd Rd & Soi 6 today and asked about cashing a government check. It cost 485 baht because it has to be sent to Bangkok to get cleared. It takes from 1 week to 1 month to clear before you get your money.

Then I went to KASIKORN BANK on Pattaya Klang & Soi 16 and because of the china virus they do not cash any checks until further notice.

I hope that the IRS does their job and Direct Deposits it into my Bangkok Bank New York account, like they said they will do! I would think that Direct Deposit would be the easiest for them and us! How difficult can that be? But then again we are talking about the IRS!

I sent an email to Manila and their reply was:

According to the Treasury Department, payments have already started being deposited and will continue over several weeks. 

Social Security benefit recipients who are not typically required to file a tax return do not need to take action.  Such recipients will receive the Stimulus Payment automatically as a direct deposit, just as they would normally receive their benefits.  

[JimGant]

1 hour ago, andy said:

What I still don't get is why the IRS is no longer allowing you to give them your bank account info.  It would eliminate all the hassle and cost on both ends...

They've got to shut the door somewhere in the process and move on with what they've got. Kind of like, if you haven't filed your 2019 taxes by now, they'll move on to using your 2018 tax filing. They're certainly not going to wait until the new July 15th filing deadline.