Bangkok Bank US Int ACH transfer -how many days?

[TravelerEastWest]

Bangkok Bank US Int ACH transfer -how many days?

 

A few years back I used to ACG bank transfers from America to Thailand via Bank Bank New York - then it became difficult so i switched to wire transfers from Schwab.

 

Ended up being very quick and about $15 a time - usually $10,000.

 

Recently Schwab started doing Bangkok Bank Int ACH transfers again. I sent one a few days ago which has not yet arrived.

 

Anyone know how long till it hits my local Bangkok bank account?

 

Thank you?

[CharlieH]

MOVED

 

Banking forum.

[CanadaSam]

Bangkok Bank is weird.  I have a wire transfer set up for Friday's from the States. 

 

It normally takes less than 24 hours. 

 

But, apparently the International Money Transfer Division at Bangkok Bank Head Office does not work on Saturdays or Sundays, so I get the funds on Monday morning, at terrible rates.

 

I have never heard of a large bank closing the foreign remittances section on Saturdays or Sundays (or any days at all) in any other country!

[TravelerEastWest]

Charlie,

 

Thank you for moving the post!

[TravelerEastWest]

Update - my money was returned to my Schwab account and I was able too end a wire - cost $15 to Scwab and a small fee to BKK.

 

The Ameritrade merger is moving along and soon Schwab in theory should be able to do I ACH transfers...

[Everyman]

I am not aware of any US bank that will do an international ACH transfer. Only domestic ACH and wire transfers. Bangkok Bank will reject domestic ACH as per their new policies to comply with stupid new laws.

[TravelerEastWest]

39 minutes ago, Everyman said:

I am not aware of any US bank that will do an international ACH transfer. Only domestic ACH and wire transfers. Bangkok Bank will reject domestic ACH as per their new policies to comply with stupid new laws.

At the moment Schwab is as you say - not able to do an I-ACH - but they told me last week that they could, as they are merging with Amritrade which does offer this service - or so they said. turned out the staff person I spoke with jumped the gun a bit...

 

From what i was told the issue is just one of formatting - so just an expense not an impossible issue....

 

But if the transaction takes more than lets say three days then a wire is just fine as it only costs $15 for $10,000 (with Schwab) and maybe it would be $10 with an I-ACH transfer so not a big savings.

[gamb00ler]

22 hours ago, TravelerEastWest said:

Update - my money was returned to my Schwab account and I was able too end a wire - cost $15 to Scwab and a small fee to BKK.

Are you in Thailand or US?  If you're in Thailand AND you have a Schwab debit card, you can go to a Bangkok bank teller and get a "cash advance" for up to 15K US$ a day.  There are absolutely no fees and generally you get a slightly better exchange rate.

 

If you're still in the US and don't have a Schwab debit card, get one!

 

Check out this thread:

https://aseannow.com/topic/1284703-schwab-wire-transfers-to-bangkok-bank-new-york-domestic-versus-bangkok-bank-in-country-international/