Bangkok Bank Conditions

[Larryst]

Last month I got a letter from Bangkok Bank. It says to inform me about certain adjustments regarding my deposit account with Bangkok Bank.  It says it has come to there attention that I utilize this account for receiving money transfers via electronic system from a US Governmebt Agency (Social Security).  According to the terms and conditions governing this service, the account owner is required to appear in person and present their account passbook at any branch to make withdrawals from the savings deposit account. Further more, the account cannot be used to conduct any transactions through ATM service or any other channel, nor can it be deducted for any purpose whatsoever. (money transfers). Starting 27 May 2024. I can only be able to withdraw funds by visiting a bank branch with passbook. 

I had to open another account with Bangkok Bank so I can use a ATM card and be able to transfer funds. Has anyone else received a letter like this. 

[Sandboxer]

Uncle Sam's FATCA at work.

 

 

 

 

[mania]

4 hours ago, Larryst said:

I had to open another account with Bangkok Bank so I can use a ATM card and be able to transfer funds. Has anyone else received a letter like this. 

 

I don't use the service but always have read for years Bangkok Bank required SS recipient to show up in person each month before moving that months SS check amount

[racyrick]

5 hours ago, Larryst said:

Last month I got a letter from Bangkok Bank. It says to inform me about certain adjustments regarding my deposit account with Bangkok Bank.  It says it has come to there attention that I utilize this account for receiving money transfers via electronic system from a US Governmebt Agency (Social Security).  According to the terms and conditions governing this service, the account owner is required to appear in person and present their account passbook at any branch to make withdrawals from the savings deposit account. Further more, the account cannot be used to conduct any transactions through ATM service or any other channel, nor can it be deducted for any purpose whatsoever. (money transfers). Starting 27 May 2024. I can only be able to withdraw funds by visiting a bank branch with passbook. 

I had to open another account with Bangkok Bank so I can use a ATM card and be able to transfer funds. Has anyone else received a letter like this. 

Does your SSA deposit go to the Bangkok Bank in NY and then to your account or does it go straight to your Thailand account?

 

I ask because it has always been that way if your deposit went to the NY branch.

[Larryst]

1 minute ago, racyrick said:

Does your SSA deposit go to the Bangkok Bank in NY and then to your account or does it go straight to your Thailand account?

 

I ask because it has always been that way if your deposit went to the NY branch.

 

Direct depost to Bangkok Bank at BigC Pattaya. Now moved the branch to Pattaya Klang.

[racyrick]

1 minute ago, Larryst said:

 

Direct depost to Bangkok Bank at BigC Pattaya. Now moved the branch to Pattaya Klang.

Strange because the SSA started allowing IDD deposits a couple of years ago to any bank in Thailand and there were no stipulations.

Only stipulation was if the deposits were set up to go to NY branch first and then to your local bank in Thailand.

First I heard of this.

[gamb00ler]

9 hours ago, Sandboxer said:

Uncle Sam's FATCA at work.

[BigStar]

On 6/5/2024 at 6:51 AM, Larryst said:

Last month I got a letter from Bangkok Bank. It says to inform me about certain adjustments regarding my deposit account with Bangkok Bank.  It says it has come to there attention that I utilize this account for receiving money transfers via electronic system from a US Governmebt Agency (Social Security).  According to the terms and conditions governing this service, the account owner is required to appear in person and present their account passbook at any branch to make withdrawals from the savings deposit account. Further more, the account cannot be used to conduct any transactions through ATM service or any other channel, nor can it be deducted for any purpose whatsoever. (money transfers). Starting 27 May 2024. I can only be able to withdraw funds by visiting a bank branch with passbook. 

I had to open another account with Bangkok Bank so I can use a ATM card and be able to transfer funds. Has anyone else received a letter like this. 

 

Sounds like you're using the ACH transfer method to a Direct Deposit account. If so, you'll need to go through Manila to change to the IDD method to a regular savings account, not a "deposit" account.