What Is Receiving Code For A Swift Transfer To Bangkok Bank

[racyrick]

When someone sends a bank transfer from the USA directly to my Thailand Bangkok Bank account using the SWIFT code method, what is the deposit code given by Bangkok Bank? Is it FTT or Bahtnet (BTN)? Thank you

[poohy]

FTT 

 

[DJ54]

If I recall it’s on their website 

[lopburi3]

As said FTT (Foreign Telegraphic Transfer)

[racyrick]

Thank you so much for your quick replies!!

[arick]

Can you use the bangkok bank routing number (NYC) and your saving account number to recieve payments from the US 

[Peterw42]

BKKBTHBK

 

Bangkok Bank's SWIFT code: BKKBTHBK. Your Bangkok Bank account name, account number and the address of your branch.

 

 

[soisanuk]

Bangkok Bank records most transfers with the FTT code.  As I understand it, the Bahtnet (BTN) code is used if the funds are sent via the Bank of Thailand - as I recall, those who have designated Bangkok Bank to receive their USA Social Security payments through the International Direct Deposit (IDD) system will have the BTN code. 

[soisanuk]

16 minutes ago, arick said:

Can you use the bangkok bank routing number (NYC) and your saving account number to recieve payments from the US 

Yes if your US Bank allows you to send International ACH transfers, which most will not if you have a personal rather than a commercial account. 

 

Bangkok Bank used to allow domestic ACH transfers to be sent to your Thai bank account via NY branch, but that has not been possible now for at least a couple of years.

[lopburi3]

1 minute ago, soisanuk said:

Bangkok Bank records most transfers with the FTT code.  As I understand it, the Bahtnet (BTN) code is used if the funds are sent via the Bank of Thailand - as I recall, those who have designated Bangkok Bank to receive their USA Social Security payments through the International Direct Deposit (IDD) system will have the BTN code. 

Actually most are not recorded FTT unless international and directly paid.  That becomes an issue for those needing to show monthly deposits for immigration income verification and the reason Wise Transfer Service has an option to select that as the reason for transfer - so they pay directly to Bangkok Bank and obtain FTT.  All is not lost it coded differently as paperwork can be obtained to prove origin but it would make more work.

[Peterw42]

OP, here is a screenshot of a recent swift transfer into a Bangkok bank account.

 

[TheFishman1]

It was a lot less expensive but I was able to transfer out of my American bank to the New York Bangkok Bank and they would send it to me here now the cost is much higher TID

[soisanuk]

17 minutes ago, lopburi3 said:

Actually most are not recorded FTT unless international and directly paid.  That becomes an issue for those needing to show monthly deposits for immigration income verification and the reason Wise Transfer Service has an option to select that as the reason for transfer - so they pay directly to Bangkok Bank and obtain FTT.  All is not lost it coded differently as paperwork can be obtained to prove origin but it would make more work.

As I recall, a BTN code will also be considered an international transfer by Bangkok Bank and included along with FTT coded transfers when preparing the letter to Immigration that lists all Int'l transfers for your account.   I have been using Wise (formerly Transferwise) ever since Bangkok Bank started requiring International ACH transfers.  Wise has partner banks in Thailand other than Bangkok Bank which if sent through them, Bangkok Bank will record it as a domestic transfer.  As mentioned, Wise in their "reasons" for transfer drop down menu has a "long stay in Thailand" reason (last item in the drop down menu).  If that is selected Wise sends it to Bangkok Bank, not to one of their other partner banks - thus using that reason will result in Bangkok Bank recording it with the FTT code.

 

[sandyf]

1 hour ago, lopburi3 said:

All is not lost it coded differently as paperwork can be obtained to prove origin but it would make more work.

Not a lot.

I use HSBC and when I make an international transfer a remittance advice is automatically posted to the account. I just print them off and give them to immigration, they never ask to see my bankbook.

[OJAS]

A dummy SWIFT transfer from my UK bank to my Bangkok Bank account last year was definitely coded FTT. However, as in the case of Wise transfers, I do wonder whether this coding is dependent on your home country bank's agency/partner bank in Thailand for SWIFT transfers also being Bangkok Bank.

[connda]

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers

 

[EricTh]

19 hours ago, racyrick said:

Thank you so much for your quick replies!!

 

Any reasons why you didn't try Transfer-Wise with a better exchange rate than the banks?

[Dante99]

19 minutes ago, EricTh said:

 

Any reasons why you didn't try Transfer-Wise with a better exchange rate than the banks?

Exchange rate is one part, fees are the other part.  I have compared Transferwise and Swift a number of times this year and found Swift often beats Wise on net amount credited to my Thai account.  That is with paying USD 10 for the initial Swift transfer.

 

Wise says they are much cheaper but that is assuming high Swift charges.  You can find low cost or even free Swift transfers.

[Colabamumbai]

3 hours ago, soisanuk said:

Bangkok Bank records most transfers with the FTT code.  As I understand it, the Bahtnet (BTN) code is used if the funds are sent via the Bank of Thailand - as I recall, those who have designated Bangkok Bank to receive their USA Social Security payments through the International Direct Deposit (IDD) system will have the BTN code. 

Some Wise transfers can show as domestic, not foreign. 

[lopburi3]

3 minutes ago, Colabamumbai said:

Some Wise transfers can show as domestic, not foreign. 

That is why they have "long stay in Thailand" as a reason for sending - if you click that and your account is with Bangkok Bank they will send directly to Bangkok Bank and FTT will be transfer type.  For any that are logged as domestic you can obtain paperwork to prove foreign origin from the Thai bank involved in sending.  

[pizzachang]

8 hours ago, sandyf said:

I use HSBC and when I make an international transfer a remittance advice is automatically posted to the account. I just print them off and give them to immigration, they never ask to see my bankbook.

Wow, I just went in for my non-O extension and CM Immigration wanted copies of every page in the bankbook, a summary letter from the bank and the bankbook updated on the day I went in- which was Monday, July 12, 2021

[pizzachang]

Just now, pizzachang said:

Wow, I just went in for my non-O extension and CM Immigration wanted copies of every page in the bankbook, a summary letter from the bank and the bankbook updated on the day I went in- which was Monday, July 12, 2021

And I forgot to mention, a 12 month printout of the deposits, since I use the monthly system.

[sandyf]

14 hours ago, pizzachang said:

And I forgot to mention, a 12 month printout of the deposits, since I use the monthly system.

Yes, I get the 12 month statement and letter from the bank, but they haven't looked at my bankbook since the last time I used an embassy letter. Even then they just looked, in all the years I have never had to copy any pages.

It really is time there was some consistency brought into these procedures.