What USA banks use IACH with Thailand?

[jmd8800]

First .... I'm not sure this is the right forum but here goes. My retirement extensions are based on monthly transfers. I will be making a trip to the USA in the near future and I'll have plenty of time to set up whatever I need.

 

I am looking for a bank or credit union in the USA that has the necessary format (IACH ?) to make deposits into Bangkok Bank New York. My previous bank was gobbled up by USBank and as far as I can tell USBank does not offer IACH to Thai banks.

 

This need is coming about because banks in the USA are beginning to refuse to send OTP to a MVNO (Mobile Virtual Network Operator). I am using Line2 for incoming SMS and both Capital One and USBank refuse to use the MVNO number.

 

USBank has also stopped allowing me to transfer money from my USBank account to external accounts because I don't have a non-MVNO phone number to receive texts.  Another option is to get a non-NVMO number but I think I'll have to do that when I return to the USA.

 

Since I presently do transfers by Wise I could have retirement checks directly deposited into WIse but I see both retirement funds need cancelled checks to make this change.

 

I am not a veteran so I cannot use banks like USAA. Thanks in advance for any suggestions.

 

 

[retarius]

I'm trying to sort out similar problems. My bank account of 37 years in the US was suddenly frozen. It had been bought out by a Bank called Flag Star, or Flag Staff from Hicksville NY. There was no notification of the buy out, but the rules specified that if you had not visited the bank in person in the previous year the account was frozen.....so my alimony checks weren't paid out, my AMEX account wasn't settled etc etc and the credit card didn't work. After hours on the phone, my AMEX has been settled but they are still not paying out other stuff.

I really would like to make a trip to US and sort out some system that would allow me to have my bills paid out of a US bank where I have pensions paid in. I don;'t want to be involved with paying taxes on transfers here, as all mo money is taxes in the US and I'm sure it will be a ball ache to try to get it refunded over here. 

Good luck. I'll follow the thread to see if anything comes us that came help me as well. 

[Thailand J]

16 minutes ago, jmd8800 said:

I am looking for a bank or credit union in the USA that has the necessary format (IACH ?) to make deposits into Bangkok Bank New York

Instead of a bank account and IACH, consider brokerage account and wire transfer.

Schwab, Interactive Brokers are user friendly, everything can be done online.

Vanguard and Fidelity if you have the time to set up.

[Thailand J]

4 minutes ago, retarius said:

I really would like to make a trip to US and sort out some system that would allow me to have my bills paid out of a US bank where I have pensions paid in

Scwab, IB and Fidelity brokerage accounts come with a US checking account , believe it or not. You can use the checking account ( ABA number and account number) to pay bills in US and to receive payments.

[silverhawk_usa]

I use Chase bank.  You can do domestic transfers through Bangkok Bank NY or wire transfers direct to Thailand. I have credit card and checking and savings through them using my Thailand address with no problems. So far, I have not been asked for OTP.   I am not sure about all your other questions. 

[jmd8800]

2 hours ago, silverhawk_usa said:

I use Chase bank.  You can do domestic transfers through Bangkok Bank NY or wire transfers direct to Thailand. I have credit card and checking and savings through them using my Thailand address with no problems. So far, I have not been asked for OTP.   I am not sure about all your other questions. 

Do you use your web browser (Chrome, Edge, Firefox etc) to log in to your accounts? I don't care about banking apps on my phone. What you describe is what I am looking for if you can do this without having to have a number that accepts OTPs.

 

I could log in to USBank on my computer in a web browser and make transfers to external accounts like Bangkok Bank NY until last month when USBank started requiring OTPs.

Edited November 4, 2023 by jmd8800

[timendres]

I use wire transfers, from Capital One and from my little credit union in Ann Arbor MI.

Both can be done online easily, fees are reasonable, and the spreads are acceptable.

I gave up on IACH after several banks indicated they will not support it until forced by regulation.

[kawikasudo]

While in Hawaii Bangkok bank New York wouldn’t let me do a domestic transfer to an account number which is linked to my Bangkok Bank Pattaya. I’m back in Pattaya and have Wise.com take from my American Savings Bank in Hawaii right to my Bangkok Bank in Pattaya showing an international transfer every time. I have no problems. Make sure when they ask for the reason you scroll down to where it says for long term stay in Thailand.

[jmd8800]

3 hours ago, timendres said:

I use wire transfers, from Capital One and from my little credit union in Ann Arbor MI.

Both can be done online easily, fees are reasonable, and the spreads are acceptable.

I gave up on IACH after several banks indicated they will not support it until forced by regulation.

The problem for me is that I cannot transfer money from USBank (where my retirement checks go) to Capital One without having an acceptable US based number on file with USBank. Same with transferring from USBank to Wise. They both used to work until last September.

[jmd8800]

3 hours ago, kawikasudo said:

While in Hawaii Bangkok bank New York wouldn’t let me do a domestic transfer to an account number which is linked to my Bangkok Bank Pattaya. I’m back in Pattaya and have Wise.com take from my American Savings Bank in Hawaii right to my Bangkok Bank in Pattaya showing an international transfer every time. I have no problems. Make sure when they ask for the reason you scroll down to where it says for long term stay in Thailand.

This is actually what I do now though where it was transferred from USBank to Wise instantly it now takes 4 days. Then of course the Wise transfer to Bangkok Bank is usually the next business day so it comes in as FTT.

 

With USBank requiring a standard mobile operator phone number, I am down to one way to transfer money to Thailand for Immigration reasons. I am one who likes to have a few different methods of transferring money in case of changes in the systems.

[Mike Lister]

Banks in the US have a choice between using IACH or SWIFT, the former is used mostly for USD transactions that are smaller whereas SWIFT is used for larger transactions in any currency. All banks use one or the other, there is no third option other than to use an intermediary bank that has a relationship with the destination Thai bank. All IACH transactions go via the Federal Reserve as an extension of the ACH system, SWIFT transactions do not. Any US bank that says it doesn't have overseas funds transfer capabilities, uses the services of a third party, almost certainly IACH, via the ACH system.

[Etaoin Shrdlu]

I opened a checking account with Chase while I was visiting the US about five years ago and have only a Thai address and phone number. I have my company pension transferred to this account each month and use this account to pay my children's tuition at university and make other payments in the US. After opening the account, Chase sent the debit card and box of checks by courier to me at my home in Bangkok. The checks have my Thai address printed on them.

 

I don't think Chase supports IACH, but I can make wire transfers to Thailand and domestic ACH transfers from the account. 

 

I have the Chase mobile app on my phone with my Thai phone number and it works without problem. I can also use a web browser on my computer to log into my account and make transfers. If I make a payment with my debit card that gets flagged by Chase security, I receive an email asking for confirmation and the payment then gets re-submitted and is processed successfully.

 

So far, so good. I hope it lasts.  Good luck.

[jmd8800]

15 minutes ago, Etaoin Shrdlu said:

I opened a checking account with Chase while I was visiting the US about five years ago and have only a Thai address and phone number. I have my company pension transferred to this account each month and use this account to pay my children's tuition at university and make other payments in the US. After opening the account, Chase sent the debit card and box of checks by courier to me at my home in Bangkok. The checks have my Thai address printed on them.

 

I don't think Chase supports IACH, but I can make wire transfers to Thailand and domestic ACH transfers from the account. 

 

I have the Chase mobile app on my phone with my Thai phone number and it works without problem. I can also use a web browser on my computer to log into my account and make transfers. If I make a payment with my debit card that gets flagged by Chase security, I receive an email asking for confirmation and the payment then gets re-submitted and is processed successfully.

 

So far, so good. I hope it lasts.  Good luck.

Ahh this is music to my ears. Thanks

[Puccini]

6 hours ago, jmd8800 said:

Ahh this is music to my ears. Thanks

 

Deleted by myself.

 

Edited November 4, 2023 by Puccini
misunderstanding

[mania]

21 hours ago, jmd8800 said:

This is actually what I do now though where it was transferred from USBank to Wise instantly it now takes 4 days. Then of course the Wise transfer to Bangkok Bank is usually the next business day so it comes in as FTT.

 

With USBank requiring a standard mobile operator phone number, I am down to one way to transfer money to Thailand for Immigration reasons. I am one who likes to have a few different methods of transferring money in case of changes in the systems.

The thing I have found doing similar with Wise is check operating hours of your bank which if open tends to result in instant transfer

 

Same with Wise to Thailand...If during Thai bank business hours it is instantly done.

[Crazy Noobie]

I have my pension & Social Security checks automatic deposited into my Chase Bank. I do not have a phone app. I just sign into the Chase Bank website with my laptop and click on global transfer and wire money to my Bangkok Bank account every month. No OTP needed. It's a flat fee of $40 and the banks use the "swift" system. The money arrives into my Bangkok Bank account within 24 hours or less. I have been doing it this way for over 13 years and never a problem.  I also pay all of my USA bills from the same Chase Bank website. Everything very simple & easy.

[timendres]

On 11/4/2023 at 5:01 PM, jmd8800 said:

The problem for me is that I cannot transfer money from USBank (where my retirement checks go) to Capital One without having an acceptable US based number on file with USBank. Same with transferring from USBank to Wise. They both used to work until last September.

 

I solved this with Skype. I have their international calling plan, so unlimited free calls to and from the US. I also purchased a US phone number that is hooked up to Skype. Calls to my US number ring Skype. And the SMS messages with OTP sent by Capital One appear in Skype. It has proven to be very useful.

[wwest5829]

I fell afoul of this with my Fidelity Account where SS and RMD deposits are made automatically. I used to do an EFT to Bangkok Bank, NYC. Fidelity does not use the required form and so a change. Ever since, I have Wise set up so that on my Wise App, I tell them, once a month to take a stated amount (usually $2200.00 USD) from my Fidelity Bank Account and transfer the equivalent Baht into my Bangkok Bank here in Thailand. I always check the “long Stay living expense” reason for the transfer. Always comes in as FTT without issue for my annual Extension of Stay.

Edited November 6, 2023 by wwest5829

[khunjeff]

23 hours ago, mania said:

The thing I have found doing similar with Wise is check operating hours of your bank which if open tends to result in instant transfer

 

Same with Wise to Thailand...If during Thai bank business hours it is instantly done.

 

It may vary depending on the particular banks and which "reason for transfer" is checked, but my personal experience has been that the opening hours were irrelevant - I've had numerous transfers go through instantly at times when both the sending and receiving banks were closed. So who knows...

[treetops]

3 hours ago, Crazy Noobie said:

I have been doing it this way for over 13 years and never a problem.

What's your backup for when there is a problem?  It's bound to happen.

[thailand49]

On 11/4/2023 at 5:01 PM, jmd8800 said:

The problem for me is that I cannot transfer money from USBank (where my retirement checks go) to Capital One without having an acceptable US based number on file with USBank. Same with transferring from USBank to Wise. They both used to work until last September.

Im not expert in these matters tell you what has work for me. Years ago I had my S.S. payment stopped be wire to BB bank in New York.

Instead had the deposit with my other pension sent to my brokerage account which is attached to a checking account that provides a Debit card if used refunds back end of month. 

From that account usually I use FireFox with a VPN on to access the CS account to view. When I log in to Wise to transfer I turn off the VPN. 

Along eith CS. i have other bank listed including my credit union account I also have two BB accounts.

In transferring I use the CS debit card ACH method, for reason I scroll down down select " living ecpense "

Comes over each time as FTT although I dont use monthly. If one do a transfer under an Thousand like 900 USD, in you Thailand bsnk within secondsc

Never had a problem can also excess using CS debit card ATM.

 

[Crazy Noobie]

37 minutes ago, treetops said:

What's your backup for when there is a problem?  It's bound to happen.

Good question. It all depends on what the issue is at the time. I do have a second bank account with Charles Schwab.  In case Chase Bank decides to mess around with me, I can do everything through Charles Schwab. I do maintain a address in my home country and a phone number. My USA phone number rings through my laptop and on my Thai cell phone. I do have backup plans.

[bamnutsak]

3 hours ago, wwest5829 said:

Ever since, I have Wise set up so that on my Wise App, I tell them, once a month to take a stated amount (usually $2200.00 USD) from my Fidelity Bank Account and transfer the equivalent Baht into my Bangkok Bank here in Thailand. I always check the “long Stay living expense” reason for the transfer. Always comes in as FTT without issue for my annual Extension of Stay.

 

This is an ACH transfer from Fidelity to WISE?

 

How is the Fidelity username, password, and 2FA handled within the WISE app?

 

 

Fidelity offers fee-free SWIFT wire transfers, but you need to set up a standing first-party order in person (or with a Medallion guarantee). And you need to call in the transfer each month. I usually call in on/shortly after the first of the month, ~ 20:00 Thai time. Funds are usually deposited at Bangkok Bank the next (working day) in the 09:30 to 13:30 time frame.

 

 

 

 

 

 

 

 

[edwardflory]

I use the TEXTNOW.COM apk for my US BANKING.  They give you a FREE US number ( in your choice of states ) and FREE service. 

 

NOTE - Free on ANY WiFi, Thai provider data charges if you are NOT on WiFi and out running around in Thailand.

 

Have been using for 2 years no problems inbound or outbound VOICE or TEXT.  I just found out 2 weeks ago, 'call waiting' also works with the service - you will hear a beep every 3 seconds.

 

NOTE: USE the service or LOOSE the service. 

I suggest at least 2 calls to the US a week. Also, you can port your US number to the service if still active and portable.

 

They also have various paid and FREE programs in US including a FREE ( 1 time charge of $4.99 for sim ) SIM number and service in US.

 

[ianguygil]

Nacha Direct Member | Nacha

[wwest5829]

30 minutes ago, bamnutsak said:

 

This is an ACH transfer from Fidelity to WISE?

 

How is the Fidelity username, password, and 2FA handled within the WISE app?

 

 

Fidelity offers fee-free SWIFT wire transfers, but you need to set up a standing first-party order in person (or with a Medallion guarantee). And you need to call in the transfer each month. I usually call in on/shortly after the first of the month, ~ 20:00 Thai time. Funds are usually deposited at Bangkok Bank the next (working day) in the 09:30 to 13:30 time frame.

 

 

 

 

 

 

 

 

Yes, it is an ACH transfer and the cost is less than $20.00 USD on a transfer of $2200.00. I am not concerned about instant delivery so I order the transfer at my convenience, sometimes ordering it on a Friday afternoon and arrival on the following business day afternoon. No, “medallion” signature guarantee needed. I did it all online with Wise and Fidelity but long ago so I do not remember the exact order of steps taken. Once a month, I open the Wise App on my iPhone and send the order … as the accounts are already linked, I do not enter username, password, etc. Has worked for for over a decade without any “glitches”.

Edited November 6, 2023 by wwest5829

[gamb00ler]

1 hour ago, thailand49 said:

From that account usually I use FireFox with a VPN on to access the CS account to view. When I log in to Wise to transfer I turn off the VPN. 

Along eith CS. i have other bank listed including my credit union account I also have two BB accounts.

In transferring I use the CS debit card ACH method, for reason I scroll down down select " living ecpense "

Comes over each time as FTT although I dont use monthly. If one do a transfer under an Thousand like 900 USD, in you Thailand bsnk within secondsc

Never had a problem can also excess using CS debit card ATM.

 

It sounds like you don't need to prove the monthly transfer of foreign funds for Thai Immigration

 

Does "CS" refer to Charles Schwab?

 

If it does you can just take your CS debit card to a Bangkok Bank branch and get a "cash advance" from the teller for up to 15K US$ for free at the current VISA exchange rate.  That exchange rate is typically very close to the rate that Wise uses but there are NO fees, so you end up getting more ฿ per $ withdrawn from your US account.  Apart from any waiting in line time at the bank, that transaction should only take 5-10 minutes.

[thailand49]

2 hours ago, gamb00ler said:

 

It sounds like you don't need to prove the monthly transfer of foreign funds for Thai Immigration

 

Does "CS" refer to Charles Schwab?

 

If it does you can just take your CS debit card to a Bangkok Bank branch and get a "cash advance" from the teller for up to 15K US$ for free at the current VISA exchange rate.  That exchange rate is typically very close to the rate that Wise uses but there are NO fees, so you end up getting more ฿ per $ withdrawn from your US account.  Apart from any waiting in line time at the bank, that transaction should only take 5-10 minutes.

Yes  Charles S. I use the 800,000 method I never found the need to go inside and request large amount personally I dont care for Thai banks I dont trust their system theycare lucky to have the 800

[jmd8800]

7 hours ago, Crazy Noobie said:

I have my pension & Social Security checks automatic deposited into my Chase Bank. I do not have a phone app. I just sign into the Chase Bank website with my laptop and click on global transfer and wire money to my Bangkok Bank account every month. No OTP needed. It's a flat fee of $40 and the banks use the "swift" system. The money arrives into my Bangkok Bank account within 24 hours or less. I have been doing it this way for over 13 years and never a problem.  I also pay all of my USA bills from the same Chase Bank website. Everything very simple & easy.

Chase sounds like the answer for me. As you describe I would be able to transfer via wire to Bangkok Bank should Wise be unavailable for some reason. Another poster has had success as well. Thanks

[jmd8800]

Thanks for all of the replies!!