16 minutes ago, JimGant said:

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....

Do you remember the amount transferred? I am sure Wise is the best option for small amounts as many banks operate with a high fixed price + a percentage. I am not so sure Wise is the better option for large amounts like +100.000 baht.

6 hours ago, JimGant said:

Maybe I should relook the numbers....

Looks like Wise charges about .2% of the principal to do the ACH "pull".

Please contact me via PM if you need help still. I can get someone here to help you directly to find out what happened and what to do.

 

Please understand we would not return funds unless we had no option

OP,

   In 2019 this subject was discussed a length in numerous Aseannow posts....but basically the U.S. Treasury started requiring any money leaving the U.S. "via the Automated Clearing House (ACH) system" to start using International  ACH Transaction (IAT) format versus the current Domestic ACH format for funds staying within the U.S.   

   

   ACH "IAT" format requires additional information not included in the Domestic ACH format....and very, very few U.S. banks/financial companies use/offer the ACH IAT format.  

 

    So, unless your bank/financial company offers ACH IAT format your ACH transfer directed thru Bangkok Bank NY branch will be rejected by Bangkok Bank.   However, U.S. govt payments like social security, military retirement, etc., which still use the ACH Domestic are still allowed as apparently the U.S. Treasury gave a waiver until the U.S. govt agencies can update their payment systems to also offer ACH IAT format. 

 

   Now you can still do a "Domestic Wire" thru Bangkok Bank NY branch since a Domestic Wire format/info is very similar/meets the info requirements of an ACH IAT transfer.  Or you can do an International Wire (a.k.a., SWIFT transfer)...or use a money transfer service like Wise, OFX, etc.

 

  Take a look at below Bangkok Bank webpage for more info regarding the ACH "IAT" requirement which went into effect in late 2019 (well, actually not really until early 2020).

 

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

Quote

Advice to senders using US bank internet banking services

If you have a U.S. bank account, you can conveniently transfer funds to a recipient's bank account at Bangkok Bank in Thailand via the internet by completing the steps described below for an international ACH transaction (IAT). International ACH payments are processed in accordance with operating rules and formats developed by the Electronic Payments Association (NACHA).

The IAT is a special code (a Standard Entry Class or “SEC” Code) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to perform screening to ensure compliance with Office of Foreign Assets Control (OFAC, U.S. Department of the Treasury) requirements.  The NACHA  rules require Bangkok Bank’s New York Branch which serves as intermediary, to ensure that payments that are transmitted to account of beneficiary in other country are appropriately classified as IATs and contain information as described below.

 

Bangkok Bank, New York Branch, is required to receive the ACH transactions in the required IAT format.  This means that we must require that senders who wish to transmit funds to recipients at Bangkok Bank in Thailand to provide certain identifying information.

 

Instructions

To initiate a such an international transaction , using internet banking when you log on to your bank in U.S. website, please select the International ACH and provide the following information to your bank:

1. Your name and physical address in Thailand
2. Your bank account number and the name and address of your Bangkok Bank Branch in Thailand
3. The 9-digit routing number 026008691 of Bangkok Bank New York Branch, which acts as intermediary in the transaction. 

 

Important Note: 

• As some bank in U.S. may not provide the International ACH thorough their internet banking, please contact your bank on how to process your transfer.
• Once Bangkok Bank’s New York branch receives the payment with the appropriate IAT format, they will process your payment to Bangkok Bank in Thailand for further credit to a recipient's bank account at Bangkok Bank in Thailand.
• With effective from April 1, 2019, New York branch only process ACH with appropriate IAT format and all non-IAT transactions will be returned.       
• Bangkok Bank in Thailand will be able to credit the recipient’s account in Thailand only when the name and account number of the recipient in your transfer instruction from the banks in the U.S. matches the recipient’s name and account number at Bangkok Bank.
   

If you wish to enquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or e-mail [email protected]