3 minutes ago, shy coconut said:

The bank doesn't know, or the embassy?

The bank.

@userabcd

 

What does it mean by 'trusted Bangkok Bank customer'?

 

If I am a Bangkok Bank customer for more than 5 years, am I considered 'trusted' if I want to help a friend open up an account for retirement purpose?

Edited March 24, 20215 yr by EricTh

Sorry to hear about the hoops they are making you jump.   It has been 2 years now since signing up for all this at Bangkok Bank.. I used the main branch in my province to set up the SS direct deposit,  and use a branch at Tesco at time to withdraw money.. It took about 2 months or so to set it all up.. the main branch in my province was not famailar with the account process but the staff was accomodating and helpful.   I don't mind going to the bank to withdraw the money instead of using an ATBM card.   Cheers mate   My branch is down south above the lower three.

Edited March 25, 20215 yr by Rhys

32 minutes ago, Rhys said:

Sorry to hear about the hoops they are making you jump.   It has been 2 years now since signing up for all this at Bangkok Bank.. I used the main branch in my province to set up the SS direct deposit,  and use a branch at Tesco at time to withdraw money.. It took about 2 months or so to set it all up.. the main branch in my province was not famailar with the account process but the staff was accomodating and helpful.   I don't mind going to the bank to withdraw the money instead of using an ATBM card.   Cheers mate   My branch is down south above the lower three.

That was then - believe it is now possible to direct deposit into Thai bank accounts with full access.  No need to use that Bangkok Bank New York option.  I do not have SS but payment from OPM and I much prefer deposit into US account and draw from that as needed so you have the funded US bank account option to pay bills outside of Thailand.  That is also a viable option for SS and probably used by most.  It is very helpful to keep a usable US account in retirement for most people.

Two methods know to get your SSA/VA/Military/etc. type benefit/retirement paymetns.

 

1.  The original way which uses the Automated Clearing House (ACH) transfer system that uses U.S. bank routing and acct numbers.   Please note the bank must have a U.S. ACH routing number.  Only one Thai bank can receive payment made via ACH and that is Bangkok Bank because their Bangkok Bank "New York" branch is a licensed U.S. bank and has an ACH routing number.  A person does not need, nor can the common person open, a Bangkok Bank NY branch acct number as it's corporate/wholesale type bank branch....not a branch which provides accts to the common man off the street.  But that's no problem...a person just needs to used the NY branch's routing number...the NY branch will then relay the payment to your in-Thailand Bangkok Bank branch acct number....the NY branch is just acting as a pass-thru service.  This system has been in place for decades.   But unfortunately to receive these reoccurring U.S. govt payments you must open a Bangkok Bank special direct deposit saving acct that does requires a person to physically visit any Bangkok Bank branch with passport in hand to withdraw/transfer money....no ATM card is authorized for a special direct deposit acct....acct can be in your name only.

 

2.  The other, newer way is via International Direct Deposit (IDD) which does "not" use the ACH transfer system but the SWIFT system.....that is, instead of using an ACH routing number and your bank acct number you use a SWIFT/BIC code and your bank acct number.   Payment this way can be sent to any Thai bank and to a regular acct (even a joint acct) which comes with an ATM card....no restriction like with the Bangkok Bank special direct deposit acct.

 

Now there are a variety of pros and cons to the ACH and IDD methods.   

 

Depending on how large your monthly payment if your payment is larger than approx $1,125 then you'll receive more in your Thai bank acct after the exchange rate and fee dust settles using the ACH method compared to the IDD method.  Less than $1,125 and you receive more via the IDD method.  This is due to the different exchange rates and fee structures of the ACH and IDD methods   

 

Also, the IDD method used BAHTNET (a domestic Thailand unique transfer system) for the final leg of the transfer which means the payment probably will not be coded as an international transfer in your online banking/passbook.....but if you get a Credit Advice from your Thai bank it should show the payment originated internationally.   This may be important to those who use the monthly income method for their annual extension of stay and need a Thai bank statement/documents proving the payment was an international transfer.

 

And as mentioned before the IDD method allows you to use any Thai bank regular savings acct (including a Bangkok Bank regular acct)....no restrictions....can have ATM card.     I have a family member whose been using IDD for their monthly SSA payment for well over a year....goes to a Bangkok Bank regular saving acct....comes with debit card....payment arrives like clockwork on the 3rd of each month around 9am in the morning.  Works like a charm.

 

 

1 hour ago, Pib said:

Two methods know to get your SSA/VA/Military/etc. type benefit/retirement paymetns.

Nice write-up as usual, tnx. Good reminder, actually, for those who followed all this previously. For those already in the game for a while, how might one change from ACH to IDD?

I opened an account at the Bangkok Bank (Don Mueang International Airport branch) a couple of years back with only my Passport and 'Trusted individual" - a Thai government employee's signature.

No work permit, was on a tourist visa.

1 hour ago, BigStar said:

 For those already in the game for a while, how might one change from ACH to IDD?

Switching from ACH to IDD is just a matter of submitting an IDD signup form to whatever agency is paying your benefit.  Keep in mind that each U.S. govt agency has a different list of IDD approved countries/IDD signup form.   For example,  at the bottom are links to the SSA and DFAS (mil pay) IDD signup forms.

 

You can even have payment via IDD go to your special Bangkok Bank direct deposit acct, but that would not change/lessen the restrictions imposed by the Bangkok Bank special DD acct....how the money arrives into the acct does not change those Bangkok Bank restrictions.   Don't blame Bangkok Bank for these special restrictions as the same thing occurs in the Philippines and other foreign countries when a foreign bank has ACH receiving capability for reoccurring U.S. govt payments....it's kinda a unique thing....but if that "uniqueness" causes discomfort then IDD may be a better choice.

 

You can ask to have that Bangkok Bank special DD acct converted to a regular saving acct (no restrictions) which would prevent the need to change acct number.  This is done by the bank removing the "O" restriction (as in Oh, not zero) on the acct which turns the acct into a regular savings acct.   

 

But converting to a regular acct causes about the same amount of paperwork for Bangkok Bank as opening a new acct.  And if another "ACH" govt payment arrives before you could switch to payment via IDD then the bank may put that reoccurring ACH govt payment on-hold because it's going to a regular acct. 

 

If sticking with Bangkok Bank it's probably best to just have the IDD payment go to a regular savings acct that you already possibly have or open a new regular acct.....then use Bangkok Bank SWIFT/BIC code (not ACH routing number) and your acct number on the IDD signup form.   If sending to any other Thai bank (i.e, other than Bangkok Bank) just complete the IDD signup for with the bank's SWIFT/BIC number and your acct number.   Remember the IDD signup form requires the receiving bank's "SWIFT/BIC" code (versus ACH routing number) and your acct number.    Just keep the special direct deposit acct as another acct in case you want to switch back to payment via ACH later on, use the acct to save money that can only be accessed by you physically visiting a branch, etc.   

 

Typically if the U.S. govt agency receives and processes your IDD form by around the 19th of the month then your next monthly payment should arrive via IDD o/a the 3rd of the month.

 

Please note for IDD payment to Thailand the bank acct you are sending to must be a Thai baht acct (i.e., regular acct) and not a Foreign Currency Deposit/USD acct.   

 

SSA

https://www.ssa.gov/forms/ssa-1199-op107.pdf

 

DFAS/mil pay (a very recent ThaiVisa form link talking DFAS IDD as DFAS's webpage talking their IDD approved list of countries is apparently out of date)

 

PIB, just want to comment on what an amazing job you do explaining these things and taking the time to lay it all out clearly. Thank you sincerely for taking the time. You actually use these services and you know the ins and outs and I welcome your comments and criticisms 

 

Thanks again for doing such a great job. I am a propeller head and I can explain the Tech stuff, but as far as the voice of the customer you are without equal

I have used the Branch opposite Sukhumvit Soi 13, BTS Stop Nana, it's address is 182 Sukhumvit Rd, Khlong Toei, Bangkok. They are used to dealing with expats and I have never had a problem there. They will send you upstairs where the staff handle anything the tellers cannot. I have used them for 7 years now without any issues. 

ianguygil, 

   Thanks for the kind words.   And thanks for your posts on TVF....as an employee of Bangkok Bank a person has to walk a fine line between giving general banking info and telling someone they need to contact a branch regarding their specific banking issue.  And I know you do this simply because you want to and when you have a free 5 minutes from your job.   In some cases no matter what you say someone is going to take it the wrong way, not like the answer, have to throw-in their two baht worth that opposes your two baht worth,  etc.  Thanks again.

Pib

 

is there a pinned topic or can someone remind me what the maintainence fees are for foreigner BBL accounts?

 

I just got an annual 200B charge for my debit card on 1 acct, but have another with no debit card, and lower balance, but can't seem to track down the charges on the form of BBLs pages

 

Guess I have a "savings acct" x2 Not in foreign currency ; maybe if I logged into iBanking it might show something

7 hours ago, chubby said:

is there a pinned topic or can someone remind me what the maintainence fees are for foreigner BBL accounts?

 

I just got an annual 200B charge for my debit card on 1 acct, but have another with no debit card, and lower balance, but can't seem to track down the charges on the form of BBLs pages

 

Guess I have a "savings acct" x2 Not in foreign currency ; maybe if I logged into iBanking it might show something

 

Generally there are no maintenance fee for Bangkok Bank or other Thai banks....fees like a monthly fee just to have an acct.   

 

But as you know, most Thai banks charge an annual fee for their debit card (just how Thai bank operate)...typically around Bt200 for the bank's basic debit card although a bank usually offers a range of debit cards.....some cards which come with extra benefits (or the bank claims them to be benefits) where the card's annual fee can be double, triple or more the basic card fee.  And a few banks offer debit cards with no annual fee  but usually those no-annual fee cards are not really free as they might only be issued against accts that pay lower interest savings rates, maybe require renewal every 3 years where you get hit with a healthy reissue fee, maybe require you to signup for another service that costs X-amount per month like maybe SMS service, etc. 

 

There is also low bank balance/inactivity fee where if you let your acct drop before Bt2,000 "and" show no owner activity for 12 months (must meet both criteria....activity like a withdrawal or deposit....bank generated activity like interest payment or debit card annual fee does not count as owner generated activity), the bank will start charging a Bt50/month maintenance fee until the acct balance reaches zeros and then the acct is closed. 

 

But before the bank starts charging such this fee they will attempt (hopefully) to notify you via SMS/snail mail.   Happened to me once about 5 years ago when I let a Bangkok Bank acct just set with less than a Bt2,000 balance for 12 months....got a nice letter from Bangkok Bank saying they would going to start charge the Bt50 for the upcoming month unless the acct started showing owner-generated activity.  So, I went and made a small deposit....and just to play it safe I upped the balance to a little over Bt2,000....and even with the balance above Bt2,000 which is suppose to prevent the maintenance fee trigger I now still make a deposit/withdrawal once or twice a year just to show owner-activity....easy to do by just doing an online transfer into or out of the acct....no need to visit  a branch or ATM/cash deposit machine.   And I'm fairly sure owner-activity such as just logging onto your online acct or maybe doing a balance inquiry is not good enough to show user activity....I think the bank is looking for a owner-initiated balance change like a deposit, withdrawal, transfer, bill payment, etc.

On 3/23/2021 at 3:41 PM, Mansell said:

Well I walked in on Monday morning and showed the manager both my bank books and passport, walked out thirty minutes later with a new account and new ATM card. No letter and no work permit.

Maybe the bank manager sized you up, mentally wrote a reference letter from himself to himself, and voila! -- bank account approved.

Quote

A reference letter issued by one of the following institutes or organizations or required document

• Embassy located  in Thailand 
• An overseas bank where the customer holds an account sent via SWIFT 
• Trusted individuals such as a Bangkok Bank staff member

We've seen examples on this forum of the latitude bank managers have. Certainly it wouldn't be too much of a stretch for a bank manager to ok a bank account, based on his observation of the applicant. Just remember to remove your nose piercing.

On 3/20/2021 at 10:06 PM, buick said:

OP, it sounds like you are in bangkok (i can't tell if this post is in the bangkok forum or not).  but you mention the branch across from terminal 21, so asoke and sukhumvit (in exchange tower).  that may work just fine, but their head office is at 333 silom road.  it is easy to get to just take the MRT to silom and walk down silom road, less than a 10 minute walk.  the head office is generally known to be the most farang friendly.

That just saved me from starting a new thread:  best BBL near Sukhumvit.  Although my accounts with them are in Udon and CM, I want to do an outbound wire for about 400,000.  Three years ago, Thapae branch in CM had a lady that did it in about 15 minutes.  I had sold a condo and needed to do a U turn, and while renting in UTH, met Jane at BBL close to Immigration (which may have moved).. again, no problem.. 15 minutes.  I think they do prefer you to have it in your account as opposed to a brown bag. So fast forward three years, sold my modest condo and repatriating the last 400k.  Went to a bank I am a preferred customer at for five years.  But, I was at a branch out the Purple MRT, where farang are few.  Took 2.5 hours, one of the girls started crying.. I think she knew, I knew they were doing the stall on purpose.  2.5 hours later, OK, done 31.00.  As I am boarding the bus, I get the call rate changed, 31.06.  I told them I had sat there for two hours while they fumbled, and they signed the paper at 31..i expected 31.  They sent two of them to my condo lobby, after 3 or four calls from different people.  The branch would deposit the shortfall in my account, but I had to sign a new paper saying 31.06..it was 775 THB difference.  I was just kicking myself for letting them do it to begin with.  So yesterday, I decide to go to the main branch... surprise, it took just as long.. got there at 13:45, and at 15:15 he was telling me to return tomorrow.. No fing way,  you just wasted two hours of my time, and I even had a copy of last week's successful wire. Ten just a moments, 14 phone calls, 10 trips to the scanner, 6 trips to the copy machine.. And I was waiting for the rate to change.. in their favor.  To me, we had made a deal.. Etc.. Each satang is 6 usd on 600k.  I told the guy, time is money, why the Hell do I have to tell you that.  Had it in my US brokerage account by 18:15..but talk about a ruined afternoon.  Something did click today.  This bank has a NO TIPPING sign in the lobby.  And what's the only other place with the same sign?  At least while Big Joke was there.  But, is tipping simply bribery? I suppose to a very large chunk of Thai society, they just can't believe someone has that much cash, including the desk sitting, time killing bank employees.. I doubt this guy makes more than 30k..they are also worried about their jobs, as they should be, but how many times have you encountered businesses like bars, grocery stores, banks that have way too many employees and none have any authority.. everything requires calls, and a just a moment.. So screw them.  But if anyone has done an outbound at bbl Silom, and knows parameters, let me know. 

Edited April 2, 20215 yr by moontang

On 3/27/2021 at 1:31 PM, Pib said:

There is also low bank balance/inactivity fee where if you let your acct drop before Bt2,000 "and" show no owner activity for 12 months (must meet both criteria....activity like a withdrawal or deposit....bank generated activity like interest payment or debit card annual fee does not count as owner generated activity), the bank will start charging a Bt50/month maintenance fee until the acct balance reaches zeros and then the acct is closed. 

 

The one bank which I found not charging that fee is Thanachart.

 

I had 17 Baht in my account for at least 3 years, and when I went there last year to open an e-savings account, the account was still active, with a balance of 17 baht

8 hours ago, Susco said:

 

The one bank which I found not charging that fee is Thanachart.

 

I had 17 Baht in my account for at least 3 years, and when I went there last year to open an e-savings account, the account was still active, with a balance of 17 baht

But, was that since they merged with TMB?  I found TMB to be the most unfriendly to someone with yellow book and OA-Retirement. 

18 minutes ago, moontang said:

But, was that since they merged with TMB?  I found TMB to be the most unfriendly to someone with yellow book and OA-Retirement. 

So typical of Thai inconsistency, I found TMB to be the best and easiest to use. Opening the account was simple straight forward, and they liked the yellow book as it was used instead of my passport on the account details etc. Which then also linked to my ID card. TIT