Social Security Direct Deposit, change from Bangkok Bank to another bank

[morning glory]

When I first set up my Social Security direct deposit 10 years ago, I had to set up an account with Bangkok Bank. This account does not provide  an ATM card. The only way to access the money is to go into the bank and physically make a transfer to another account that has an ATM card, a process which is rather inconvenient.
 

I have recently learned that now you can have a SS direct deposit made to any bank without such restrictions. Has anyone ever switched from Bangkok Bank to another bank for their SS deposit? If so, how did you do it? 

[mania]

36 minutes ago, morning glory said:

I have recently learned that now you can have a SS direct deposit made to any bank without such restrictions. Has anyone ever switched from Bangkok Bank to another bank for their SS deposit? If so, how did you do it? 

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

Edited October 6, 2023 by mania

[morning glory]

15 minutes ago, mania said:

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

A friend told me that his SS goes into his SCB account, an account that has an ATM card. 

[mania]

11 minutes ago, morning glory said:

A friend told me that his SS goes into his SCB account, an account that has an ATM card. 

Well I guess you will find out if that is true once you apply to change your bank

Or better yet go ask SCB first

 

But once you decide

Use this form & read near bottom about changing banks

 

https://www.ssa.gov/forms/ssa-1199-op107.pdf

Edited October 6, 2023 by mania

[rabas]

I changed from Bangkok Bank to an existing SCB account 2 years ago using the form posted above. It was easy. I took the form to an SCB branch near me and had a bank official sign it, then sent the form to the Philippines SS office. 

[morning glory]

1 hour ago, mania said:

Well I guess you will find out if that is true once you apply to change your bank

Or better yet go ask SCB first

 

But once you decide

Use this form & read near bottom about changing banks

 

https://www.ssa.gov/forms/ssa-1199-op107.pdf

Many thanks!

[morning glory]

27 minutes ago, rabas said:

I changed from Bangkok Bank to an existing SCB account 2 years ago using the form posted above. It was easy. I took the form to an SCB branch near me and had a bank official sign it, then sent the form to the Philippines SS office. 

Thank you! It’s great to get confirmation from someone who has done it successfully. 

[flexomike]

1 hour ago, mania said:

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

Wife has her SS deposited in a Krungthai account and has a card her SS is by IDD not ACH

[flexomike]

1 hour ago, morning glory said:

A friend told me that his SS goes into his SCB account, an account that has an ATM card. 

If using IDD International Direct Deposit, you can put it into almost any Thai bank account with a card

[scorecard]

2 hours ago, mania said:

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

Strange rules.

Australian OAP and DVA recipients can have a direct transfer to any Thai bank, and both agencies encourage the recipient to use a joint savings account so that if there's sickness etc., the family can still access some funds. 

 

Mine has an ATM card, and the account is embedded into my internet banking so electronic transfers are easy for both domestic and international funds transfers.

 

And I can access the funds using an app on my smartphone. 

Edited October 7, 2023 by scorecard

[sirineou]

1 hour ago, mania said:

Well I guess you will find out if that is true once you apply to change your bank

Or better yet go ask SCB first

 

But once you decide

Use this form & read near bottom about changing banks

 

https://www.ssa.gov/forms/ssa-1199-op107.pdf

Thank you for that link. 

in the form it asks for "Name and Complete Mailing Address: "

  For my tax returns, Social security, drivers licence, etc in the US and such other matters,  I use my US address, which is my sisters house near where I used to live. 

So The question is : Do I use my US address in the form , or do I use my Thai address? 

 

PS: I will be going to the US January, would it be a better idea to wait until then and to the transfer application in person at my local office.  

Edited October 7, 2023 by sirineou

[KhunLA]

@morning glory

You could just open an account in another bank, possibly even stay with BkkBank, and simply do an online transfer to the account, and use a debit card attached to new account, I think.

 

As I do bank transfers occasionally, so don't think there's a rule that you couldn't send the SS DD to yourself.

 

SS would only get screwed out of a couple years if you crapped out, as debit cards have to be renewed in person.

 

Although if partner had all your info, they (plural use, unless applicable to 'your' partner), then simply transfer to themselves.

 

I told the wife to bury me in the garden and simply carry on.

[KhunLA]

51 minutes ago, sirineou said:

Thank you for that link. 

in the form it asks for "Name and Complete Mailing Address: "

  For my tax returns, Social security, drivers licence, etc in the US and such other matters,  I use my US address, which is my sisters house near where I used to live. 

So The question is : Do I use my US address in the form , or do I use my Thai address? 

 

PS: I will be going to the US January, would it be a better idea to wait until then and to the transfer application in person at my local office.  

UP2U if doing via Manila or local USA, as Manila may be a bit busy with Yanks applying to have SS DD'd now, instead of what they're using.

 

Also, suggest you open an online account with SS while there as near impossible to do from here/TH.  Then I think you can do most things online, instead of going through Manila.

 

I use TH address for SS, though keep a USA address (brother's) for my my pension, at brokerage, as they won't deposit in foreign bank.

 

I'm curious now, if I make ATM withdrawals as I do for that account (USA), will it get taxes.   Though how could they/TH  tell if I live here or a tourist.  ????

 

I guess those not getting SS may be switching over the lump sum for extensions.  That could be problematic for some.

[Thailand J]

IDD sign up with SSA-1199 form requires a Thai address and the form must be mailed to Manila.

The question is: what will happen if you change to a US address later?

Edited October 7, 2023 by Thailand J

[sirineou]

1 hour ago, KhunLA said:

I'm curious now, if I make ATM withdrawals as I do for that account (USA), will it get taxes.   Though how could they/TH  tell if I live here or a tourist.

Thank you for your reply.

Yea , I thought of the same. It would be interesting to see. As it stands now , according to the US/thai tax treaty, income from SS, private pension and annuities earned in the US are only subject to tax  in the US . And Thailand said , "Income from abroad . brought into Thailand " will be taxed, so as long as we don't bring into Thailand more than you earned from ss. private pension and annuity we should be fine, but of course it's all speculation. we will see when and if this thin is approved. 

 

[rabas]

2 hours ago, KhunLA said:

@morning glory

You could just open an account in another bank, possibly even stay with BkkBank, and simply do an online transfer to the account, and use a debit card attached to new account, I think.

 

As I do bank transfers occasionally, so don't think there's a rule that you couldn't send the SS DD to yourself.

 

SS would only get screwed out of a couple years if you crapped out, as debit cards have to be renewed in person.

 

Although if partner had all your info, they (plural use, unless applicable to 'your' partner), then simply transfer to themselves.

 

I told the wife to bury me in the garden and simply carry on.

SSA transfers to Bangkok Bank require a special restricted SSA defined account with no means to withdraw funds except in person, at the counter, with a smile. No card,  no transfers, and no 3rd person authorizations. 

 

I once asked what if I was hospitalized in need of immediate life saving care. I think they said the bank could send an agent to the hospital to authorize a payment. I could not authorize my wife.

 

Switching to SCB relieved one of those chronic headaches about living here. 

 

[EVENKEEL]

6 hours ago, mania said:

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

My SS is deposited into Bangkok Bank and I have a debit card.

[KhunLA]

21 minutes ago, rabas said:

SSA transfers to Bangkok Bank require a special restricted SSA defined account with no means to withdraw funds except in person, at the counter, with a smile. No card,  no transfers, and no 3rd person authorizations. 

 

I once asked what if I was hospitalized in need of immediate life saving care. I think they said the bank could send an agent to the hospital to authorize a payment. I could not authorize my wife.

 

Switching to SCB relieved one of those chronic headaches about living here. 

I know about the ATM rule, and why my debit card rarely worked (staff didn't have a clue why) and I cancelled it.   As usually had to go in to get money anyway.

 

But I have done transfers, to other accounts.  Not in my name, so that may or may not work, and one way to find out.

 

Also paid things with QR codes.   All of which I don't do now, as less entries/pages to copy for Imm at extension time.  My passbook has 12 DD and 4 withdrawals in it, per year.   Saves copies, and getting new passbooks.

 

One less tree to cut down ... Save the Planet ????

Edited October 7, 2023 by KhunLA

[EVENKEEL]

I changed banks using the on line account with SS. I started my SS in the US if that matters.

 

[connda]

7 hours ago, morning glory said:

I have recently learned that now you can have a SS direct deposit made to any bank without such restrictions. Has anyone ever switched from Bangkok Bank to another bank for their SS deposit? If so, how did you do it? 

Yes.  I changed from BKK Bank to SCB as soon as IDD was made available.  I did it and never looked back.  The only advantage of the old method that uses ACH transfers to BBK Bank into a 'closed account' is that all of those transfers show up as Foreign Funds Transfers (FFT) - if - you use the monthly 40K/65K per month transfers for your annual Immigration extensions. 

Like this ???????????????????? It may take a couple of months for the change to take affect. 

 

3 hours ago, Thailand J said:

IDD sign up with SSA-1199 form requires a Thai address and the form must be mailed to Manila.

The question is: what will happen if you change to a US address later?

 

 

Edited October 7, 2023 by connda

[connda]

15 minutes ago, EVENKEEL said:

My SS is deposited into Bangkok Bank and I have a debit card.

Which means you have an IDD transfer set up with SSA with your Bangkok Bank debit account as the recipient of the funds.

The old transfers via ACH to BBK Bank were made to completely closed account and required you to show up in person to withdraw the funds.

[rabas]

20 minutes ago, KhunLA said:

I know about the ATM rule, and why my debit card rarely worked (staff didn't have a clue why) and I cancelled it.   As usually had to go in to get money anyway.

 

But I have done transfers, to other accounts.  Not in my name, so that may or may not work, and one way to find out.

 

Also paid things with QR codes.   All of which I don't do now, as less entries/pages to copy for Imm at extension time.  My passbook has 12 DD and 4 withdrawals in it, per year.   Saves copies, and getting new passbooks.

 

One less tree to cut down ... Save the Planet ????

Did you do the transfers at the counter?  That was always allowed. I signed up for BB about 10 years ago and things may have eased up since then esp with newer tech.

 

My wife complains because I pay condo fees once every 3 months. I looks like too much, she says. So I did the same as you with SS from Bangkok Bank, and had her put the money is a carry bag.

[DJ54]

4 hours ago, sirineou said:

used to live. 

So The question is : Do I use my US address in the form , or do I use my Thai address? 

OP if you use Thai address/bank you’ll be required to submit “ I’m still alive “ form sorry I forgot the number yearly. If US address not required. 

[rwill]

You can also use this link to contact the Social Security unit at the US Embassy in the Philippines.  Select 'change of bank' in the drop down menu.

 

FBU Inquiry Form - U.S. Embassy in the Philippines (usembassy.gov)

[Tedly]

9 hours ago, morning glory said:

When I first set up my Social Security direct deposit 10 years ago, I had to set up an account with Bangkok Bank. This account does not provide  an ATM card. The only way to access the money is to go into the bank and physically make a transfer to another account that has an ATM card, a process which is rather inconvenient.
 

I have recently learned that now you can have a SS direct deposit made to any bank without such restrictions. Has anyone ever switched from Bangkok Bank to another bank for their SS deposit? If so, how did you do it? 

I recently set mine up with Bangkok Bank and have an ATM card and can withdraw with that.

[Balance]

10 hours ago, morning glory said:

When I first set up my Social Security direct deposit 10 years ago, I had to set up an account with Bangkok Bank. This account does not provide  an ATM card. The only way to access the money is to go into the bank and physically make a transfer to another account that has an ATM card, a process which is rather inconvenient.
 

I have recently learned that now you can have a SS direct deposit made to any bank without such restrictions. Has anyone ever switched from Bangkok Bank to another bank for their SS deposit? If so, how did you do it? 

Just create another ATM account (no cost) and sign up for internet banking.  You can then transfer money from the non-ATM account (it is more secure according to the bank) to the ATM account.  

 

U.S. SS transfers your money to the BKB in New York and the branch forwards it to BKB in Bangkok.  The money arrives in my account the same day that SS sends it.

[earlinclaifornia]

When I set up with Bangkock Bank 5 years ago I did with thier B first Debit card, Mastercard.  with free almost everywhere ATM and also all available other Bank card transactions. After that I did the Auto deposit thru NY NY branch using that form and opened at the Saraphi branch. Yearly fee is 300B.

Edited October 7, 2023 by earlinclaifornia

[NoshowJones]

10 hours ago, mania said:

May I ask where you "learned" that?

The reason that account requires the recipient to physically come in & as you say trans to an account with windows/ATM etc is because if not & the actual recipient dies someone else could continue to drain account monthly.

 

So having never heard of anything changing I wondered where you hear that. I mean I imagine even if another bank was allowed it would have the same restrictions to move the deposit after physical presence proof.

 

I think this is why many still just deposit in the USA then trans if needed. Also because should yo be traveling etc & needed some of those funds in the Thai deposited SS account you could not reach them

Banks are like Thai IO's, they all make up their own rules.

 

[KhunLA]

5 hours ago, rabas said:

Did you do the transfers at the counter?  That was always allowed. I signed up for BB about 10 years ago and things may have eased up since then esp with newer tech.

On the BBL phone app.  Which means, as long as the phone app doesn't crap out, and wife sends the 7162 back, she can collect forever, and get free fertilizer for the garden ????

Edited October 7, 2023 by KhunLA

[pookiki]

What I don't understand is why anyone would want to have their Social Security check direct deposited to any bank in Thailand when the exchange rates are so crappy.  It makes much more sense to have the money deposited to your bank account in the US and transfer funds as necessary. Bank laws in Thailand are beyond the pall and not consumer oriented - especially for expatriates.