Any US Social security recipients out there doing direct deposits?

[Charlie D.]

OK, got it, so I will chat later as soon as I see money come across my phone alert either Friday or Monday as you said in your mail. 

 

Charlie D.

[Charlie D.]

Pib, Just received my bank phone notification of the SS direct deposit is complete. I assume you just received your deposit.

What is the factor number used by the bank for the deposit. I want to see if yours is the same as my number.

 

CD

[racyrick]

3 hours ago, Charlie D. said:

Pib, Just received my bank phone notification of the SS direct deposit is complete. I assume you just received your deposit.

What is the factor number used by the bank for the deposit. I want to see if yours is the same as my number.

 

CD

The rate looks to be about 33.2

[Charlie D.]

Racy, you look to be spot on, Thanks for the reply back to me. I was thinking about the same number.

 

CD

[Pib]

6 hours ago, Charlie D. said:

Pib, Just received my bank phone notification of the SS direct deposit is complete. I assume you just received your deposit.

What is the factor number used by the bank for the deposit. I want to see if yours is the same as my number.

 

CD

True Exchange Rate: 33.264.  This assumes only the basic Bt100 BAHTNET receiving bank fee was applied.

 

Remember to add Bt100 onto the amount that posts to your acct.  That Bt100 is the Thai bank  BAHTNET receiving fee.  Note: depending on your Thai bank if you live outside the greater Bangkok area there may also be an upcountry BAHTNET transfer fee added onto the basic Bt100 BAHTNET fee. 

 

So, say 40,100.25 posted to your acct.  Add Bt100 and you now have 40,200.25.  Now divide that number by your "net" SSA payment in dollars & cents and you have the true exchange rate like posted on websites.  If you don't take into account any fees, like that Bt100 BAHTNET  fee, then you do not have the true exchange rate....you have what some people call the "effective" exchange rate that also includes fees....but fees can vary from individual to individual depending on various factors.

 

And since the SSA pension posted today/1 Nov this is a good example of how the IDD payments sometimes post "before" the 3rd of the month.