Advice of details of regular transfers of pension money into Thai banks

[scorecard]

Just been talking to K Bank and applied for an automatic e.mail of full sender details all deposits coming from Australia. K Bank call it a 'CREDIT ADVICE'.  (I already receive an SMS.)

 

K Bank lady tells me that sometimes pension money comes direct to K Bank from Australia in which case I will get the automatic instantaneous e.mail with full details.

 

But she mentioned 'sometimes it comes from Australia to Citibank Thailand, then Citibank transfer it to K Bank, but K Bank don't get the full sender details. But K Bank will send an automatic e.mail to the recipient with a Citibank reference number.

 

I will then need to contact Citibank (by e.mail), quote the reference number and citibank will then give full sender Details. K Bank lady said she believes it takes about 7 to 10 days to get a response from Citibank. 

 

Yes you might ask 'do you really need the full details'?

 

Yes, I do have a personal reason. 

 

Would you please share any knowledge or experience you've had with this. Thanks. 

[simple1]

Advice from K Bank doesn't make sense as pension payments are sent directly from Reserve Bank of Australia in order that the exchange rate is not negatively impacted by a third party. You may wish to clarify with RBA if from time to time they actually utilise Citibank as an intermediary for pension payments into Thai banks.

Edited February 5, 2022 by simple1

[scorecard]

1 minute ago, simple1 said:

Advice from K Bank doesn't make sense as pension payments are sent directly from Reserve Bank of Australia in order that the exchange rate is not negatively impacted by a third party. You may wish to clarify with RBA if from time to time they actually utilise Citibank as an intermediary for pension payments into Thai banks.

Point taken. That was my understanding too.

I've got Credit Advices here on my desk which clearly mention Citibank, but doesn't show any commission/fees to Citibank.

 

Strange.

[KhunHeineken]

Most international transfers pass through an intermediary bank.  They are usually larger global banks, such as Citibank.  

 

For a possible solution, what about getting your pension paid into your Aussie bank account, and then setting up a fortnightly international transfer? 

 

This way, you are the payer, and the payee, and have access to all the records you need.

 

The transfer will still have to go through an intermediary bank, but you will be able to show you sent it, and you received it.      

[scorecard]

2 hours ago, KhunHeineken said:

Most international transfers pass through an intermediary bank.  They are usually larger global banks, such as Citibank.  

 

For a possible solution, what about getting your pension paid into your Aussie bank account, and then setting up a fortnightly international transfer? 

 

This way, you are the payer, and the payee, and have access to all the records you need.

 

The transfer will still have to go through an intermediary bank, but you will be able to show you sent it, and you received it.      

Yes that's a possibility.

 

On the other hand at 77 years old I find comfort in it all happening automatically, and I've started to receive the 'Credit Advices' within a few seconds of the SMS and seeing the deposit in my K Bank internet banking.

 

Also true, if there is any change in the rates etc., I get a letter which clearly outlines/explains the change from the DVA.

 

Only problem with that is the current overal delay in Post Office mail, yesterday, 8 feb 2022,I got a letter from the DVA which was mailed on 22 Dec 2021. 

Edited February 9, 2022 by scorecard

[KhunHeineken]

On 2/10/2022 at 1:01 AM, scorecard said:

Yes that's a possibility.

 

On the other hand at 77 years old I find comfort in it all happening automatically, and I've started to receive the 'Credit Advices' within a few seconds of the SMS and seeing the deposit in my K Bank internet banking.

 

Also true, if there is any change in the rates etc., I get a letter which clearly outlines/explains the change from the DVA.

 

Only problem with that is the current overal delay in Post Office mail, yesterday, 8 feb 2022,I got a letter from the DVA which was mailed on 22 Dec 2021. 

 

It's all automatic, once you initially set it up.

 

Can you go paperless with the DVA?

[scorecard]

2 hours ago, KhunHeineken said:

 

It's all automatic, once you initially set it up.

 

Can you go paperless with the DVA?

That'a yes and no, they keep promoting communications by e.mail or through the messages facility within My.gov, but they still keep mentioning that email is not secure (which is true) and repeating messages on hard copy through the post office. 

 

There's been mention that either Centrelink or the DVA is developing a secure e.mail facility but no details have emerged (that I've seen).

 

Different point;

- OA Pensioners can call services Australia (c/link) on a toll free number from Thailand 0018006114136, I've used this several times, wait time has been about 5 to 15 minutes, no maximum time limits for the calls, always pleasant, clear and focused discussion.

- DVA has no toll free number.

[KhunHeineken]

On 2/14/2022 at 2:28 PM, scorecard said:

That'a yes and no, they keep promoting communications by e.mail or through the messages facility within My.gov, but they still keep mentioning that email is not secure (which is true) and repeating messages on hard copy through the post office. 

 

There's been mention that either Centrelink or the DVA is developing a secure e.mail facility but no details have emerged (that I've seen).

 

Different point;

- OA Pensioners can call services Australia (c/link) on a toll free number from Thailand 0018006114136, I've used this several times, wait time has been about 5 to 15 minutes, no maximum time limits for the calls, always pleasant, clear and focused discussion.

- DVA has no toll free number.

 

If you have someone you trust in Australia, you could have your mail sent to them, they can scan it and email it to you.  You would get the document in a timely fashion.

 

Not that accountants are so trustworthy, but if you still use the services of an accountants, I'm sure they will offer this service to you.  Most accountants know the financial position of their clients, so privacy in that regard is not an issue.  

 

There are secretarial services that offer similar services as well.  For something like this, it would be cheap.  You get your mail sent to their office, they scan it and email it to you, then post it to you, if you need the hard copy.  You could set up a pay as you going billing with them, so everytime they do a small job for you like this, they bill you a few dollars.  Pay the bill via internet banking.    

[scorecard]

4 hours ago, KhunHeineken said:

 

If you have someone you trust in Australia, you could have your mail sent to them, they can scan it and email it to you.  You would get the document in a timely fashion.

 

Not that accountants are so trustworthy, but if you still use the services of an accountants, I'm sure they will offer this service to you.  Most accountants know the financial position of their clients, so privacy in that regard is not an issue.  

 

There are secretarial services that offer similar services as well.  For something like this, it would be cheap.  You get your mail sent to their office, they scan it and email it to you, then post it to you, if you need the hard copy.  You could set up a pay as you going billing with them, so everytime they do a small job for you like this, they bill you a few dollars.  Pay the bill via internet banking.    

Thanks.