I know the subject of transfers from the US through Bangkok Bank of NY was beaten to a pulp last year, but have a related question:

Up until a little over a year ago, I could go to Vanguard.com and transfer funds to my Bangkok Bank account in Udon, going through the Bangkok Bank of NY, free of charges by Vanguard (less the small amount charged by Bangkok Bank).  As I understood all the forum news about the NY branch, that is no longer allowed.

My question:  Does anyone have a Vanguard account where you can set up a direct online transfer to a Thai account, without incurring a fee at the Vanguard end?

All help appreciated.

 

15 hours ago, kokesaat said:

I could go to Vanguard.com and transfer funds to my Bangkok Bank account in Udon, going through the Bangkok Bank of NY

Can you order a domestic wire from Vanguard to Bangkok Bank NY? If possible this wire will use the ABA number which you used to link Bangkok Bank NY to Vanguard.

If this failed you will need to set up international wire transfer using SWIFT Code. The set up form is not available online so you need to call or send a message to request. The form needs a medallion signature guarantee which is not available in Thailand. You will have to check with Vanguard what is acceptable in lieu of the Medallion signature.

Edited May 29, 20206 yr by Thailand J

 

On 5/29/2020 at 1:32 AM, kokesaat said:

My question:  Does anyone have a Vanguard account where you can set up a direct online transfer to a Thai account, without incurring a fee at the Vanguard end?

While transferring from Vanguard to Bangkok Bank Bangkok, an ACH/IAT via Bangkok Bank NY will cost about the same as a SWIFT wire if you use Chase Bank as the intermediary at $2 flat fee instead of Bangkok Bank NY . Assuming you pay $10 to Bangkok Bank NY to receive an ACH and $10 for Vanguard a wire.

ACH:  Vanguard $0 + BBLNY $10= $10.

SWIFT: Vanguard $10 + Chase $2=$12.

..plus the BBL Bangkok receiving fee. Vanguard wires are free for accounts with balance over 1M.

1 hour ago, Thailand J said:

 

While transferring from Vanguard to Bangkok Bank Bangkok, an ACH/IAT via Bangkok Bank NY will cost about the same as a SWIFT wire if you use Chase Bank as the intermediary at $2 flat fee instead of Bangkok Bank NY . Assuming you pay $10 to Bangkok Bank NY to receive an ACH and $10 for Vanguard a wire.

ACH:  Vanguard $0 + BBLNY $10= $10.

SWIFT: Vanguard $10 + Chase $2=$12.

..plus the BBL Bangkok receiving fee. Vanguard wires are free for accounts with balance over 1M.

I'm not familiar with 'using Chase Bank as an intermediary'.  Could you explain, please?  I thought if I wired from Vanguard to, say, my Siam Commercial Bank account, it would go direct like that, incurring just the $10 fee from Vanguard.  Maybe I'm missing something.   

I'd like to arrange things so I can do the transfer online.....realizing I might have to set up a phone call Vanguard for the first transaction only.  

I appreciate your help.

Please see post #2 second part. Vanguard wants you to fill in a form to set up a standing order for SWIFT code wires into any Thai bank. On that form you can specify Chase as intermediary, for a $2 fee in additional to the $10 wiring fee at Vanguard.

Edited May 31, 20206 yr by Thailand J

Ok, I'll give it a try tomorrow.  Thanks again for the responses.  

19 hours ago, Thailand J said:

... Vanguard wires are free for accounts with balance over 1M.

Phew! Thank God for that.

Thank God for John Bogle, his Vanguard and the index funds.

Ok, I called VG, the gentleman set up the form for me, using Chase as an intermediary.  I'll sign the form, return it, and give it a shot.  Thanks for all the input.