Transferred money from US bank to Bangkok Bank was returned

[ThoMichael]

I need to transfer money from my US bank to Bangkok Bank, so I did a test last month for a small amount of money, but it was returned. Before doing a long distance phone call with Bangkok Bank, does anyone know the reason it might have been returned. 

 

Or I guess there are other ways to transfer money from a US bank to Bangkok Bank?

 

Thanks for any advice. 

[Mahseer]

$ account ~> baht or $ ~> $?

[gamb00ler]

51 minutes ago, ThoMichael said:

Thanks for any advice.

Many here will be happy to help....but more details will make that easier.

 

How did you initiate the transfer?  SWIFT, ACH to Bangkok Bank in NY, TransferWise, some other?

What type of account at Bangkok bank?

Have you determined that your Bangkok bank account is still valid?

Did you tell your bank to send US$ or to send Thai ฿?

 

Sounds like you're still in the USA.  That should make it easy to clear up any problem on that end.

 

[ThoMichael]

I transferred $US dollars to Bangkok Bank directly from my US bank, using the Bangkok Bank in NY routing number. My Bangkok Bank account is valid. I use it often.

 

The error said it was refused, so I figured it was Bangkok Bank. I talked to my bank in the US a few minutes ago and they said they refused it. I just need to call and talk to their wire dept. on Monday and they will make the transfer happen.

 

So this thread can be put on hold until I talk to my bank on Monday. Thanks.

 

One question for now. Is it better to transfer US Dollars or in Thai Baht?

 

 

Edited September 10, 2022 by ThoMichael

[Jingthing]

Sounds like you tried to do a domestic ACH transfer to Bangkok Bank New York with your Thai bank account number.

If so, try SWIFT. Send dollars. 

[VinnieK]

Some Thai banks reject incoming transfers over 50k. baht 

We had a similar problem last year.

Switched to Kasikorn and problem solved.

 

 

[DrJack54]

8 hours ago, ThoMichael said:

I need to transfer money from my US bank to Bangkok Bank

Use Wise.

Attached is screenshot just done now. (AUD)

They give you the total charges and the exchange rate. 

 

Edited September 10, 2022 by DrJack54

[Everyman]

The BKK Bank of New York doesn’t allow ACH transfer anymore due to changes in US regulations. Officially ACH has been replaced by another system when used for this purpose but retail banking customers like you and me cannot use it because no bank in the US offers it. So effectively it’s a ban. 

 

You have to use SWIFT or “Wise” now. 

Edited September 10, 2022 by Everyman

[Rmac442]

2 hours ago, DrJack54 said:

Use Wise.

Attached is screenshot just done now. (AUD)

They give you the total charges and the exchange rate. 

 

Excellent ...use it 5/6 times a year ..and no limit and very fast

[DrJack54]

56 minutes ago, Rmac442 said:

Excellent ...use it 5/6 times a year ..and no limit and very fast

Folk should be aware that since changes to some banking rules in Thailand only 3 banks do not have limit of 50k per transfer.

If opening a new account I suggest one of these 3 banks...,

 

Please note that you’ll be able to send 50,000 THB or above per transfer only to the following banks starting from 7 January 2022 due to regulatory changes:

• Bangkok Bank Public Company

• Kasikorn Bank

• Siam Commercial Bank 

Note for Bangkok folk SCB does not have branch at CW.

Edited September 11, 2022 by DrJack54

[Liverpool Lou]

4 hours ago, VinnieK said:

Some Thai banks reject incoming transfers over 50k. baht 

That is misleading.  No Thai bank will reject a bank to bank credit to a customers account from another bank solely based on it's being over B50k ($1,375).    That amount is insignificant and it would be ridiculous.   

 

Even with very large amounts, there is no limit to the amount that can be credited to customers' accounts.  Large (or unusual) credits in may result in the bank asking their customer for details of the transfer before it is cleared but the funds would not be returned to the remitting bank based on nothing more than the of the amount of the transfer. 

[Liverpool Lou]

1 hour ago, Rmac442 said:

Excellent ...use it 5/6 times a year ..and no limit 

There's no limit on bank to bank transfers, either.

[mjnaus]

26 minutes ago, Liverpool Lou said:

That is misleading.  No Thai bank will reject a bank to bank credit to a customers account from another bank solely based on it's being over B50k ($1,375).    That amount is insignificant and it would be ridiculous.   

 

Even with very large amounts, there is no limit to the amount that can be credited to customers' accounts.  Large (or unusual) credits in may result in the bank asking their customer for details of the transfer before it is cleared but the funds would not be returned to the remitting bank based on nothing more than the of the amount of the transfer. 

Although what you're saying is most likely true; Wise does impose this limit. When doing EUR transfers to Thailand, it clearly states only Kasikorn and another bank allow incoming transfers of over 50k. All other banks don't. Now, whether this is something Wise arbitrarily decided to impose or if this is some Thai banking regulation isn't clear.

[flexomike]

12 hours ago, ThoMichael said:

I transferred $US dollars to Bangkok Bank directly from my US bank, using the Bangkok Bank in NY routing number. My Bangkok Bank account is valid. I use it often.

 

The error said it was refused, so I figured it was Bangkok Bank. I talked to my bank in the US a few minutes ago and they said they refused it. I just need to call and talk to their wire dept. on Monday and they will make the transfer happen.

 

So this thread can be put on hold until I talk to my bank on Monday. Thanks.

 

One question for now. Is it better to transfer US Dollars or in Thai Baht?

 

 

You need to do a wire transfer from your bank in the States to Bangkok Bank Thailand, you can no longer use the New York routing number unless your bank can do an ACH transfer this was changed a few years back, I use to do mine using the New York routing number until it got changed now use swift, never in twenty years have I had trouble sending money to a Bangkok Bank account. I am on Social Security and get my money through New York but that is because it is coming from the US Government who uses ACH.

 

Swift Code for Bangkok Bank Thailand is BKKBTHBK

[Liverpool Lou]

1 hour ago, mjnaus said:

1 hour ago, Liverpool Lou said:

That is misleading.  No Thai bank will reject a bank to bank credit to a customers account from another bank solely based on it's being over B50k ($1,375).    That amount is insignificant and it would be ridiculous.   

 

Even with very large amounts, there is no limit to the amount that can be credited to customers' accounts.  Large (or unusual) credits in may result in the bank asking their customer for details of the transfer before it is cleared but the funds would not be returned to the remitting bank based on nothing more than the of the amount of the transfer. 

Expand  

Although what you're saying is most likely true; Wise does impose this limit.

It is true.

 

"Wise" isn't a bank and that's one reason why Wise is not God's gift to everything financial as some posters (not referring to you, necessarily) seem to believe.

[VinnieK]

1 hour ago, mjnaus said:

Although what you're saying is most likely true; Wise does impose this limit. When doing EUR transfers to Thailand, it clearly states only Kasikorn and another bank allow incoming transfers of over 50k. All other banks don't. Now, whether this is something Wise arbitrarily decided to impose or if this is some Thai banking regulation isn't clear.

Nothing to do with Wise.

Certain banks have imposed limits ,arbitrarily. 

We had a problem last year with a Swiss pension transfer. 

The ppl above this comment who scoffed at me, should go out more often..????

 

[JimGant]

This is what you get from Wise when you go to send money:

Quote

Due to regulatory changes in Thailand, transfers of 50,000 THB and above will only be available for Kasikorn Bank, Bangkok Bank, and Siam Commercial Bank recipients. Effective on 10 Jan 2022 at 9AM Bangkok Time. Transfers under 50,000 THB remain unaffected for all supported recipient banks.

 

[JimGant]

On 9/11/2022 at 11:10 AM, flexomike said:

You need to do a wire transfer from your bank in the States to Bangkok Bank Thailand, you can no longer use the New York routing number unless your bank can do an ACH transfer this was changed a few years back

You can do a domestic wire to Bangkok Bank NY, which will then send the money to your Bangkok Bank account in Thailand. Mechanically, the same as the old days when ACH worked. Charges are the same, except you may have a wire fee from your originating bank.

[Longwood50]

I had the same thing last year with a transfer from Chase to Wise.  They being Chase would take the transfer but then just reject it.  I called Chase and you did exactly what I did.  Made a small transfer as a test and then a larger one.  That fits a pattern of people who have obtained someones information and then testing it before making a transfer.  The Chase representative just said, keep trying, the system will eventually recognize the attempt as valid.  I gave up, and transferred to another bank who I then used to transfer to Wise.  Not a problem.  

Now I didn't try another transfer directly from Chase until 3 months ago.  I thought, well lets give it a try.  Sure enough, this one went through without a problem.  It appears Chase was now convinced that this was not someone who hacked an account. Given that I now do monthly transfers of my pension, I am guessing I will have no more problems because it will look like a very routine transaction in my account. 

[ThoMichael]

I was going to do a test transfer from my US bank to Bangkok Bank using Swift. I set up an account at swift .com, but their instructions just seem to just be a loop saying what you need to do, using "Swift Go" I guess, but does not tell you how to do it. Am I missing something?

 

Anyone have experience doing a Swift money transfer?

[userabcd]

16 minutes ago, ThoMichael said:

I was going to do a test transfer from my US bank to Bangkok Bank using Swift. I set up an account at swift .com, but their instructions just seem to just be a loop saying what you need to do, using "Swift Go" I guess, but does not tell you how to do it. Am I missing something?

 

Anyone have experience doing a Swift money transfer?

Don't think in your personal capacity you can just make an account on swift. I think it is for financial institutions to register.

 

To do a swift transfer get the swift code from the Thai bank.

 

Enter the swift code on your overseas banks transfer details website from the originating account you want to do the transfer, fill in the rest of the details they require such as Thai bank account number, Thai bank account address etc...and press send.

 

The overseas bank will send the money to your local Thai bank account via swift.

Edited September 13, 2022 by userabcd

[ThoMichael]

12 minutes ago, userabcd said:

Don't think in your personal capacity you can just make an account on swift. I think it is for financial institutions to register.

 

To do a swift transfer get the swift code from the Thai bank.

 

Enter the swift code on your overseas banks transfer details website from the originating account you want to do the transfer, fill in the rest of the details they require such as Thai bank account number, Thai bank account address etc...and press send.

 

The overseas bank will send the money to your local Thai bank account via swift.

Ahhh, that's what it looked like. The problem is I am using a smaller bank in Texas and they only allow international transfers by calling their wire department. And they are being very difficult, saying they will do it once as a courtesy. 

 

It looks like Wise is easier to use. I am going to do a test money transfer today.

 

[flexomike]

6 hours ago, ThoMichael said:

I was going to do a test transfer from my US bank to Bangkok Bank using Swift. I set up an account at swift .com, but their instructions just seem to just be a loop saying what you need to do, using "Swift Go" I guess, but does not tell you how to do it. Am I missing something?

 

Anyone have experience doing a Swift money transfer?

The bank that will be sending your money to your Thai bank account will take care of the swift part, all they need is the receiving banks name, address and bank code which if using Bangkok Bank I previously posted.. Very easy to do have done many with no problems.

[ThoMichael]

3 hours ago, flexomike said:

Very easy to do have done many with no problems.

I first entered the info you listed on my banks website when I tried to do a transfer to Bangkok bank, but my (small) bank rejected it because it was a international transfer. I then was told to use their wire department and gave my bank all of them info you listed. After 6 hours of back and forth with their Cisco secure emails, scanned and signed documents,     they did the transfer.

Edited September 14, 2022 by ThoMichael

[chubby]

seems to me you should do bit more research before just doing thing ????

 

above a user explained the wire to NY is domestic not intl

 

ACH has been long discontinued , many posts about in ThaiVisa/AN.

 

Transferwise is supposed to be reasonable for <$5k transfers, it's not $0 or $10-$30 which wires will be ; 

 

if we knew the general purpose and approximate value, we might be able to suggest other options

[JimGant]

On 9/12/2022 at 11:43 AM, Longwood50 said:

I had the same thing last year with a transfer from Chase to Wise.  They being Chase would take the transfer but then just reject it. 

I assume your Chase bank is in the US...  If so, I don't see the option for a "bank transfer" as a way to get money to Wise and then on to Thailand. If I'm to send money through Wise from my US bank, my options are: bank debit (ACH); wire transfer; debit card; or credit card.  All my transfers over the years have been bank debit (ACH) -- and these are an ACH "pull" by Wise from my US bank account, which I established with Wise, using two trial deposits. A bank transfer is a "push" from your account -- so, yeah, you might run into trouble with your bank, unlike "pull" activity. But, as far as I can tell, bank transfers aren't an option for sending US dollars -- but they are for sending GBP and EURos. What am I missing here?

[gamb00ler]

3 hours ago, JimGant said:

All my transfers over the years have been bank debit (ACH) -- and these are an ACH "pull" by Wise from my US bank account, which I established with Wise, using two trial deposits. A bank transfer is a "push" from your account -- so, yeah, you might run into trouble with your bank, unlike "pull" activity. But, as far as I can tell, bank transfers aren't an option for sending US dollars -- but they are for sending GBP and EURos. What am I missing here?

I opened a multi-currency account with Wise using my Thai address.  That gives me a US routing number and account number.  I set that up as an external account with SDFCU and then I can "push" funds via ACH to my Wise account for free.  I believe that incurs the fewest fees possible to fund transfers to Thailand via Wise.

 

[1FinickyOne]

On 9/11/2022 at 5:35 AM, VinnieK said:

Switched to Kasikorn and problem solved.

 

Kasikorn is great for me - transfer done usually in 12 - 20 hours. Good rates too. 

[Longwood50]

4 hours ago, JimGant said:

I assume your Chase bank is in the US.

Yes it is a Push Transaction.  In the beginning I had problems with a transfer to Wise.  Chase kept rejecting it.  As an alternative I opened a savings account with Discover Bank part of Discover Card.  They had no problem initiating the transfer to them ACH.  I did that for several months and two months ago I thought I would try Wise again.  This time no problem.  I think they were suspicious of Wise in the beginning but given that I did not contact them regarding the Wise account set up as a transfer they finally said, that this might be ok.  So, it costs nothing to sent to Wise and 30 baht to transfer from Wise to my Bangkok Bank account.  I use a computer so I set up an automatic conversion when the rate hits a certain rate.  Over the past several months I have done automatic conversions at 34, 34.5 35, 36.5 and 36.75 USD to baht.  When it hits that threshold the conversion is done.  It sits in my baht account at Wise until I authorize a transfer and I transfer only about 70,000 baht per month enough to satisfy my visa requirements.  More if I have some unusual expense here to cover. 

[JimGant]

1 hour ago, gamb00ler said:

I believe that incurs the fewest fees possible to fund transfers to Thailand via Wise.

I think you're right. A few years back on this forum we did some number crunching of alternatives. Funding a Wise account and sending money from that was the winner. For some reason I've stayed with the bank debit option, finding it wasn't too far more expensive. Maybe I should relook the numbers....