US Social Security deposited directly into Thailand via Bangkok Bank fees ?

[JPMMEAW]

 

 

 

 

Please, current information on what are the fees to have your SS deposited directly to your bank in Thailand. I have been using BBK Bank  for many years for my banking in Thailand.

I have been Using WIZE to transfer funds to Thailand.

 

Bangkok Bank fees, SS deposited directly into your Bangkok bank account ?
I believe the individual has to file form 7162 every year as proof that you are still living ?

United States Department of treasury, DO they still transfer the funds to Bangkok Bank in New York City US, Then BBK NY sends the funds to your Thai bank account ?

I called BBK bank in NY and lady I got a hold of said that they receive payments in US dollars and then charge the exchange Fee ???

Maybe she did not know that the US is depositing and Thai baht because it goes through the Philippines ???? 

From looking at the fee structure BBK bank, it appears they charge 200 baht minimum for their services in Thailand deducted from your payment ?

Example, 65,000 baht deposit monthly with a charge of 0.25% = 162.5 baht today. 

 

Is there a foreign transaction fee from Bangkok Bank NY ?  Does the money go through them or directly into your BBK bank Account in BAHT ?

Draft Specifying Bangkok Bank as Paying Bank Deposit No Fee Fee for receiving funds from overseas: 0.25% of the transfer amount (Baht 200 Min., Baht 500 Max.) Fee for receiving funds from overseas: 0.25% of the transfer amount (Baht 200 Min., Baht 500 Max.)

The United States Department of the Treasury now offers direct deposit of federal benefit payments, including Social Security Administration (SSA), Department of Veterans Affairs (VA), and Office of Personnel Management (OPM), to banks in Thailand. The payments are automatically converted to Thai Baht (THB) at the international exchange rate before they are deposited in the account. U.S. dollar payments are not available. The United States Department of the Treasury does not charge fees to make the deposits. However, the Thai banks may charge fees.

I am aware that you have to deal with,
Social Security Administration
U.S. Embassy Manila
1201 Roxas Boulevard
Ermita 0930
Manila, Philippines
Email: [email protected]
Phone No.: +63 2 301 2000 ext. 9 (from 8:00 a.m. to 11:00 a.m. Manila Time, Tuesdays and Thursdays except Philippine and U.S. Holidays)

 

Any clarification would be wonderful, thanks, JP

 

[JPMMEAW]

Anybody out there with information pertaining to the questions ?

[metisdead]

Moving to the US & Canada Topics and Events forum, perhaps you will find some answers there. 

[bradiston]

You say you use Wise for $ transfers to Thailand. Why not use your Wise $ account for your SS deposits and transfers? I use them for my UK £ pensions. I also have a Wise $ account.

[AgMech Cowboy]

44 minutes ago, bradiston said:

You say you use Wise for $ transfers to Thailand. Why not use your Wise $ account for your SS deposits and transfers? I use them for my UK £ pensions. I also have a Wise $ account.

I interpret it to mean he wants to get rid of his US bank account and those potential problems. (I did that and regretted it but that was before I got social security benefits).  Now that I am (on SSA benefits) and there is not much chance or hope of me working in the US again, I may do the same thing and close my US bank account.

 

@JPMMEAW I hope you'll let know what you find out.

[earlinclaifornia]

I set up SSA direct deposit to NY NY branch back in 2019. They in turn transfer to my Thailand CM account, usually by COB on deposit date.  I check the rate at close of business the day before. I can say from auditing as far as I can tell that NY takes 500baht and Thailand takes 200baht. 

[lagarto]

All you need to do is sign up form SSA-1199-OP 107 Direct deposit sign-up form(Thailand) and send it to manila  and SSA will direct deposit to your bank in thailand no  fees to pay.  that is what I did never have any problem.see attachment of the form(3 pages). good luck brother.

SF-1199 Thailand (IDD) Blank.pdf

[DJ54]

OP my SSA is direct deposit is sent through Bangkok Bank NY to my Bangkok Bank Account in Thailand in baht. I think fees are listed on Bangkok Bank website. 
 

Note: Sending from SSA via direct deposit to Bangkok Bank Thailand is a special account which can only have the recipient on the account. To get money OR transfer to another Bangkok Bank Account your required to do transactions in person at any branch. 

[yankyoakum]

WE just set wifes up, we have my social security accounts on line we set up in states before retiring here. She just went to her account, clicked on change bank, put in routing number and her savings account # and supposedly starting June her checks will come to her BKK BK account here. Didn't take 5 minutes....We will see how this works. As for what fees get charged we'll find out. 

Edited May 4, 2023 by yankyoakum
missing detail

[pookiki]

In my opinion, it would be much more prudent for you to maintain a bank account in the US and have your social security check deposited in that account and transfer money to your BBL account via WISE (WIZE). The exchange rates at BBL are usually much less than WISE. Additionally, maintaining a bank account in the US makes a lot of sense in maintaining residency, paying bills, etc. As an expat from the US who lived in Thailand for 17 years but returned to the US last year because I 'lost' my residency address, among other things, I can tell you that it is increasingly difficult to do banking business or government business while living overseas. For example, you cannot access the Social Security website without a VPN. Most banks require 'multi-factor' process to log-in, etc. All of these things are in place to allegedly reduce 'money laundering' issues but the reality is living overseas is becoming an arduous task.  Good luck.

[Isaan sailor]

4 minutes ago, pookiki said:

In my opinion, it would be much more prudent for you to maintain a bank account in the US and have your social security check deposited in that account and transfer money to your BBL account via WISE (WIZE). The exchange rates at BBL are usually much less than WISE. Additionally, maintaining a bank account in the US makes a lot of sense in maintaining residency, paying bills, etc. As an expat from the US who lived in Thailand for 17 years but returned to the US last year because I 'lost' my residency address, among other things, I can tell you that it is increasingly difficult to do banking business or government business while living overseas. For example, you cannot access the Social Security website without a VPN. Most banks require 'multi-factor' process to log-in, etc. All of these things are in place to allegedly reduce 'money laundering' issues but the reality is living overseas is becoming an arduous task.  Good luck.

That’s exactly how I do it.  Currencies fluctuate daily (look what the Baht did today, Americans—not pretty). My SS goes into my American bank.  When the Baht suits me, I use Wise Tranfer to bring it in.  And I believe it costs less doing it this way.

[skatewash]

12 minutes ago, Isaan sailor said:

That’s exactly how I do it.  Currencies fluctuate daily (look what the Baht did today, Americans—not pretty). My SS goes into my American bank.  When the Baht suits me, I use Wise Tranfer to bring it in.  And I believe it costs less doing it this way.

Agree.  If you have it deposited to the US you have control over when and how often you bring the money to Thailand, whereas with direct deposit to Thailand it happens every month.  Generally, fewer transfers is going to have less fixed costs than more transfers from the US to Thailand.

[Paradise Pete]

Mine is deposited in my US account and I use Wise to send it. The excellent exchange rate Wise gives makes the total cost low, and I have more control. I don't see a reason for jumping through the hoops of having it go directly to my BKB account. Also if I ever need to leave Thailand I'd have to undo all that.

[bradiston]

19 minutes ago, Paradise Pete said:

Mine is deposited in my US account and I use Wise to send it. The excellent exchange rate Wise gives makes the total cost low, and I have more control. I don't see a reason for jumping through the hoops of having it go directly to my BKB account. Also if I ever need to leave Thailand I'd have to undo all that.

But why don't you guys just deposit it straight into Wise? $4.14 receiving fee. Then it's at your fingertips in your $ account with Wise, to transfer to a THB account or wherever, whenever. Why go through a 3rd party US account?

[gamb00ler]

3 hours ago, pookiki said:

For example, you cannot access the Social Security website without a VPN

This is not true.  I never need a VPN and I use my online SSA account often.  I do have a delay in connecting occasionally but simply retry once or twice and it will eventually load the site.  I had a friend who had difficulty connecting to SSA from Thailand.  He changed his DNS server to 8.8.8.8 (Google DNS server) and no more problems.

 

If you are having problems try using a different route to the internet.  If your problem is on a desktop/laptop, then try using mobile internet on your phone.  You can also use your mobile phone to create a hotspot that your desktop can use to connect to SSA.

 

If you cannot connect using your phone try a desktop/laptop or try using free Wifi service after you turn off your mobile data connection.  A free WiFi will be safe because your connection to SSA website is via HTTPS.

Edited May 4, 2023 by gamb00ler

[Pib]

OP,

   Two ways to have a person SSA pension direct deposited to a Thai bank such as Bangkok Bank.

 

Method 1:  Transfer via the Automated Clearing House (ACH) transfer method which uses an ACH/ABA routing number such as the Bangkok Bank New York branch routing number to your in-Thailand Bangkok Bank account number.  Info on the Bangkok Bank acct.   Only, repeat, only Bangkok Bank has ACH receiving capability among Thai banks.

 

But basically it boils down to the Bangkok Bank NY branch slicing off a fee as it flow thru them to your in-Thailand Bangkok Bank acct...typically a $5 or $10 fee depending on the amount.   So, say your monthly payment is $2,100....the NY branch will slice off a $10 fee and forward $2,090 on to Thailand.  Once it arrives your in-Thailand Bangkok Bank branch they will first use their "TT Buying Rate" exchange rate (usually the bank's daily opening TT Buying Rate) to covert those dollars to baht....then they apply their fee of 0.25% (Bt200 min, Bt500 max) and the remaining amount is posted to your acct. 

 

IMPORTANT NOTES: above mentioned fees are applied "prior to" posting to your acct and will not be reflected anywhere which fools some folks into thinking no fees were applied but the fees were indeed applied.  And for reoccurring U.S. govt payment like social security they must be direct deposited into a special/restricted Bangkok Bank acct which require the acct owner to physically visit any Bangkok Bank bank branch to withdraw/transfer-out funds and no debit card allowed.

 

Bangkok Bank Fees for ACH transfer....whether for govt payments, personal transfer from a U.S. bank, etc.  

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

 

 

 

Method 2:  Payment of the SSA pension via "International Direct Deposit (IDD)" which does not use the ACH transfer system but uses the SWIFT transfer system.   The U.S. Treasury/Federal Reserve Bank sending the SSA payment will convert to baht on their end....Thai baht is sent to your Thai bank where the receiving Thai bank will charge a Bt100 BAHTNET receiving fee and possibly another bank inter-region transfer fee of another Bt50 to Bt100.  My wife receives her SSA pension via IDD...we live in Bangkok....only a Bt100 BAHTNET fee is applied.   Remember IDD does not use the ACH system like routing it thru Bangkok Bank NY branch....it sent via the SWIFT system.....there are no intermediary/correspondent bank fees on its way to Thailand......but since the last leg of the SWIFT transfer uses the BAHTNET system which is a Bank of Thailand transfer system there is the Bt100 receiving fee.   

 

Additionally, the Thai bank receiving the IDD will code it as a BAHTNET payment (typically BTN) which is considered a domestic transfer vs coding as an international transfer where Bangkok Bank uses FTT coding to indicate the transfer was international.   

 

And one last thing, since the ACH and IDD methods use different "exchange rates and fee structures" at around $1,150 or less a person would receive slightly more baht to their Bangkok Bank acct (or any Thai bank) when using IDD.......and if using the ACH method to their Bangkok Bank acct at around more than $1,150 they would receive slightly more via ACH than IDD due to how the exchange rate and fees work out.

 

Cheers

 

 

 

 

[gamb00ler]

1 hour ago, bradiston said:

But why don't you guys just deposit it straight into Wise? $4.14 receiving fee. Then it's at your fingertips in your $ account with Wise, to transfer to a THB account or wherever, whenever. Why go through a 3rd party US account?

You can actually eliminate Wise's receiving fees if you deposit SSA into a US bank.  You then use ACH transfer to "push" the funds into your Wise account from your US bank account.  Most banks allow their customers to use ACH transfers for free.

 

Remember that you must initiate the ACH transfer using your US bank.  If you use Wise to request the transfer they will charge you for that service.

Edited May 4, 2023 by gamb00ler

[Pib]

3 hours ago, pookiki said:

For example, you cannot access the Social Security website without a VPN. Most banks require 'multi-factor' process to log-in, etc.

7 minutes ago, gamb00ler said:

This is not true.  I never need a VPN and I use my online SSA account often.  I do have a delay in connecting occasionally but simply retry once or twice and it will eventually load the site.  I had a friend who had difficulty connecting to SSA from Thailand.  He changed his DNS server to 8.8.8.8 (Google DNS server) and no more problems. 

 

Agree with gamb00ler...a person can login into their online acct without a VPN connection....just a plain ol' Thailand connection.   The wife and I have logged into our SSA acct quite a few times like that when we forgot to use a VPN connection "which we like to do"....don't have to do...but just typically use a VPN connection with U.S. IP address.  

 

However, some people using certain Thai Internet service providers do sometimes have a problem connecting to the SSA website with a Thailand IP address....but that's a Thai internet service provider problem and not the SSA blocking the connection.   Heck, it even happened to me around a half dozen years ago when I was with True internet and for about a six month period I simply could not reach the SSA public website or SSA acct logon unless using a U.S. VPN connection.   Then the problem just went away.  It was just a "True" problem; not the SSA blocking Thai IP addresses.   Now for the last half dozen years or so I have been with AIS Internet and never experienced such a problem.

 

Like below SSA login page is reached with a plain ol' Thailand IP/non VPN connection a minute ago.

 

[Pib]

10 minutes ago, gamb00ler said:

You can actually eliminate Wise's receiving fees if you deposit SSA into a US bank.  You then use ACH transfer to "push" the funds into your Wise account from your US bank account. 

That is indeed true in most cases for folks using U.S. banks to fund a transfer.  I did it many times for numerous years  to ACH "push" funds from the particular U.S. bank I use for such purposes.  However, but, when Wise switched to their new U.S. partner bank for the Wise multi-currency acct late last year and issued new multi-currency bank routing/account numbers while I could set up/validate the ACH transfer link when I attempted an actual push of funds the U.S. bank would reject the transfer the next day.  

 

After the first reject I actually deleted the validated transfer link and set it up again....trial deposits arrived Wise OK...were pulled back from Wise OK....ACH transfer link validated with my U.S. bank....but when attempting an actual transfer the bank would reject the transfer next day and freeze the transfer link.  

 

Talked to both the U.S. bank and Wise about the issue....what it boils down to is apparently my bank considers Wise new partner bank as a pass-thru bank into an acct actually "owned by" Wise and not me---which is correct....therefore, the bank ends up rejecting an actual push transfer.  The push transfer worked fine with Wise's previous partner bank; but not with the new one with the particular U.S. bank I use.  

 

However, I can use Wise to ACH "pull" funds from my U.S. bank.    

 

 

[Makoshark]

My SS check automatically gets deposited into my Wells Fargo account in the USA.  I transfer it from that account to KBank, no charge .....

[DrDave]

56 minutes ago, Makoshark said:

My SS check automatically gets deposited into my Wells Fargo account in the USA.  I transfer it from that account to KBank, no charge .....

How do you do that with no charge?  I thought the only way you could do a transfer from Wells Fargo to K-Bank was via a wire transfer. Does Wells Fargo not charge you to do an outgoing international wire? Most banks charge $30-$40.

[gamb00ler]

1 minute ago, DrDave said:

How do you do that with no charge?  I thought the only way you could do a transfer from Wells Fargo to K-Bank was via a wire transfer. Does Wells Fargo not charge you to do an outgoing international wire? Most banks charge $30-$40.

The fees that a bank charges are not strict rules that must apply to everyone.  Customers that have large balances often get perks that others with lesser balances don't.  Schwab does the same.... if you have a high enough balance, there is no SWIFT fee for outgoing wires within reason.

[Skipalongcassidy]

12 hours ago, pookiki said:

  For example, you cannot access the Social Security website without a VPN.   

May 5, 2023... I can still access the SSI website without a VPN.

[Skipalongcassidy]

11 hours ago, Paradise Pete said:

Mine is deposited in my US account and I use Wise to send it. The excellent exchange rate Wise gives makes the total cost low, and I have more control. I don't see a reason for jumping through the hoops of having it go directly to my BKB account. Also if I ever need to leave Thailand I'd have to undo all that.

This is the most economical way to do it... however one should shop different "transfer" companies... While Wise offers a higher exchange rate their fees have skyrocketed... Moneygram exchange rates are slightly lower but coupled with their lower fees is the best way right now to send money from the USA TO Thailand.  That could change later today... 555 

[Paradise Pete]

13 hours ago, bradiston said:

But why don't you guys just deposit it straight into Wise? $4.14 receiving fee. Then it's at your fingertips in your $ account with Wise, to transfer to a THB account or wherever, whenever. Why go through a 3rd party US account?

I like it going into my actual bank account. Then I can transfer what I want, pay bills such as credit cards, etc. Also there's no "receiving fee" to have it deposited in my bank. Why would I want to pay that? I don't view my US bank account as "third party."

 

[Pib]

6 hours ago, Makoshark said:

My SS check automatically gets deposited into my Wells Fargo account in the USA.  I transfer it from that account to KBank, no charge .....

 

While I guess it's possible Wells Fargo provides you a waiver maybe because your have a BIG balance of financial assets with Wells Fargo under some type of premier account, the normal Wells Fargo international wire/SWIFT fee is shown below.   And there will also be the K-Bank international transfer (i.e., SWIFT) "receiving fee" of 0.25% (Bt200 min, Bt500 max) applied before posting to your account which is pretty common for Thai banks.

 

Snapshot from Wells Fargo Fee Schedule.   

 

[HaoleBoy]

Presumably, the direct SSA to NY Bangkok Bank ACH transfer then to your Thai Bangkok Bank is to show proof for 65,000 THB / month for Retirement Visa.

 

Do the other methods work for the 65,000 THB verification?

[Pib]

46 minutes ago, HaoleBoy said:

Presumably, the direct SSA to NY Bangkok Bank ACH transfer then to your Thai Bangkok Bank is to show proof for 65,000 THB / month for Retirement Visa.

 

Do the other methods work for the 65,000 THB verification?

Immigration offices look for Bt65K/month "international" transfer for a retirement extension....Bt40K for a marriage extension....that is proven by the coding on your statement/passbook like "FTT" (Foreign Telegraphic Transfer) which Bangkok Bank uses.  Immigration offices know Bangkok Bank FTT coding means it was an international transfer.  And if necessary a person can obtain a Credit Advice from Bangkok Bank for each transfer.....a Credit Advice is just a document which shows in detail where the money came from like starting it's trek in the U.S. (or whatever country) and coming over to Thailand.

 

Now if using the IDD method which results in BAHTNET coding (typically BNT) since BAHTNET can be used to transfer funds domestically/intra-Thailand "AND" BAHTNET can also interface with the SWIFT system for incoming international transfers, a person's particular immigration office may ask for proof a person's monthly transfers coded as BAHTNET did indeed originate from outside Thailand....like from the SSA in the U.S. versus the transfer just being an intra-Thailand domestic transfer where you might be sending money to yourself via BAHTNET, a friend in Pattaya is just sending you money in Bangkok via BAHTNET, etc.   Getting a Credit Advice for a BAHTNET transfer is most likely going to be problematic because your receiving bank just sees the incoming BAHTNET transfer as a domestic transfer and they will not/can not issue you a Credit Advice but will tell you that you need to contact the Thai bank that handled the leg of the international transfer where it was input into the BAHTNET system for the final leg to your receiving bank.   That particular Thai bank that input the last leg into the BAHTNET system might be the Bank of Thailand, Citibank, etc....which is bank a person would have to contact to get a Credit Advice because that bank is the one that received it thru the international SWIFT system just before handling it off to the BAHTNET system.   It would depend on a person's immigration office as to what will satisfy them the funds originated from outside Thailand....some will accept separate documentation like you showing them SSA docs that they pay you X-amount per month along with your Thai bank statement/passbook showing that amount in baht arriving each month........other immigration offices will simply be hardcore and require "Thai bank documentation" the transfer was international.

 

Then there are those money transfer company transfer slike Wise (Transferwise) which use a peer-to-peer transfer system (not SWIFT, not ACH, etc) where they have partner banks/companies in Thailand (like Bangkok Bank, K-Bank, DeeMoney) who relay funds to a person's Thai bank acct (any Thai bank) which might receive international coding or might now....depends on which Thai partner bank Wise used for a transfer, reason for transfers, and if it's going to a partner bank or non-partner bank.   Like if you are using Wise to send to your Bangkok Bank acct and you have your Wise transfers to use Bangkok Bank as the partner bank for the transfer then you will receive FTT/international transfer coding; but if another Wise partner bank handles that particular transfer you will not get international coding...it will just appear as a plain ol' domestic transfer.   Once again it would depend on a person's immigration office as to what will satisfy them the funds originated from outside Thailand....some will accept separate documentation like you showing them SSA docs that they pay you X-amount per month or Wise PDF Receipt showing you transferred the funds from your home country; other immigration offices will simply be hardcore and require "Thai bank documentation" the transfer was international.

 

Summary: receiving FTT/international transfer type Thai bank coding or being able to easily get a Credit Advice provides the proof "any" immigration office will accept that the transfer originated from outside Thailand....some offices will accept alternate/non-Thai bank documentation as proof of international transfers....some offices simply only accept Thai bank documentation.....various immigration offices in Thailand who handle this issue a little differently....not shortage of AseanNow posts over the years describing the different problems people have had with their particular immigration office regarding proof of monthly transfers....some immigration office are anal strict; others not so strict.

 

Edited May 5, 2023 by Pib

[tamy]

Pib thank you again for sharing your SSA bank experiences retired inside Thailand....  We wish to apologize for ionterrupting the focus

of the last comments regarding not having 800 000 Baht bank deposit to show Immigration to get a one yesr visa....  The proof of money

deposited inside a Thailand bank is not a problem for many USA citrizens who have and do retire pernament inside Thailand and the way or method that Social Security USA delivers the benefits money

using Bangkok Bank New York ACH or International Direct Deposit IDD

to a Thailland DEBIT CARD account may not be Immigration peoblem if one has a ~25,000 USD ~ 800,000 Baht ANNUAL RETAINED balance

inside the Thailand DEBIT CARD issued ACCOUNT BOOK....  In other

way the DEBIT CARD ISSUED BANK BOOK INFORMATION may be used

to show an ANNULA 800,000 BAht printed balance available ~3 months

~6months before and after your Temporay issued one year retirement

visa rubber stamp....  The DEBIT CARD BANK holder can also ask the bank to print the available 800,000 Baht deposit from their Bank stationary to submit to Immigration.... 

 

Please Mr Pib we are trying to help older retired USA citizens understand the complicated scattered SSA.GOV OVER SEA INTERNATIONAL RETIREMENT payment system application to Thailand

 

It was starnge 2006 that Thailand Immigration ENFORCED ALL FOREIGN BANK ACCOUNTS must be approved by Thailand Immigration and TODAY no bank account can be opened UNLESS

the bank account is approved by a letter stamp from Thailand Immigration and the passport must have a minimum 6 month validated rubber Thailand Visa stamp...  

 

This is a problem for tourist who are forced to use International credit DEBIT cards to travel ore enter and leave Thailand every SIX months

etc etc and at the same time HAVE A PERNAMENT SOUTH EAST ASIA

ACCESS TO SOLIAL SECURITY MONEY EVERY MONTH inside or outside Thailand

 

The story continues because the Social Security Administration ISSUED

International Direct Deposit FORMS IDD not!  NOT!  ACH forms are

used as the direct deposit to a MASTER DEBIT CARD issued by a THAILAND BANK after you process all the Thailand Immigration controlled bank account applications... SO THEREFORE IDD IS A DEBIT

CARD issued by MASTERCARD no need for a passport face to face bank ACH cash pickup just use it any where there is MASTERCARD

ATM store airport etc etc

 

Mr Pib appologty for all this rambling but may be necessary to explain where are we going with all these regulations and TO CONSIDER OTHER MASTERCARD DEBIT CARD  MONEY FROM SOCIAL SECURITY USA

 

Please take the time to read and DIGEST the SSA>GOV DIRECT EXORESS MASTER CARD offered to ALL USA Government agents and

beheficiary holders including Social Security money payments....

There is a lot of confused information about DIRECT EXPRESS MASTER CARD so please be kind enough to offer any experiences using it as

we wish to point out a few facts in advance YES the use of any one INTERNATIONAL EXPRESS DEBIT CARD purchase has a THREE USD FEE

and a THREE PERCENT additional charge to each card purchase... WHEN YOU use a standard USA bank of America or Wells FArgo or any USA bank CREDIT CARD the average deductions are SIX PERCENT for every transaction VERSUS 3 USD AND 3% FOR THE express debit card

 

ok ok SOMEBODY ALWAYS HAS A HUGE CASH INVESTED STOCK BROKER ACCOUNTS AND ARGUES ZERO INTEREST CHARGES USING THEIR PREMIUM CREDIT CARD this is B.S. nothing is free and the cards are paid by low interest earnings stock trade comissions etc etc etc you all pay for every plastic card one way or another...

 

RETURNING TO helping the USA citizen with Social Security MONEYEXPRESS DEBIT CARD can print and mail the 800 000 Baht

certification statement online offline and at any Thailand ATM show the BALANCE RECEIPT but most important you do not need the Immigration letter certify your ability to have a Thailand bank account no need for a bankl just assign auto pay from SSA EXPRESS DEBIT CARD to pay your Thailand internet  your Thailand electric bill your Thailand water bill your Air Asia airplane tickets etc... at a 3% and 3 USD additional cost...

 

Please share your thoughts and vomments we love to hear from you

but first GO DIRECT to SSA here forget about MAnila FBU and Thailand Banks

 

There are many bank laws and restrictions coming all over the globe

that shall restrict USA dollar circulation. The SSA issued Direct Express

Mastert Card do not need a Thailand or other country restricted application documents just to open a Thailand bank account

 

https://www.usdirectexpress.com/faq.html

 

https://www.usdirectexpress.com/how_it_works.html

 

https://duckduckgo.com/?t=lm&q=Direct+Express&ia=web

 

Please help older retired USA citizens share your thoughts share your

ideas and thank you all for help with SSA retirement solutions

God Bless You

 

 

 

 

 

 

 

 

 

 

[gamb00ler]

13 minutes ago, tamy said:

ok ok SOMEBODY ALWAYS HAS A HUGE CASH INVESTED STOCK BROKER ACCOUNTS AND ARGUES ZERO INTEREST CHARGES USING THEIR PREMIUM CREDIT CARD this is B.S. nothing is free and the cards are paid by low interest earnings stock trade comissions etc etc etc you all pay for every plastic card one way or another...

It sounds like you don't have any actual experience with using fee-free debit cards to access funds held in bank/brokerage accounts based in the US while living or traveling abroad.

 

You are correct when you state that US financial institutions will make some profit when I use my debit card to access my funds from Thailand.  However, that amount is actually very very small.  @Pib has discussed this in other threads.  My broker is the best available to me when it comes to fees and features.  When I compare the amount of ฿/$ I receive to any other method that I'm aware of (Wise, Moneygram, SWIFT, XE, Bangkok Bank) I achieve the best result.

 

The method you're suggesting is the most expensive that I've read about.