Do you know (Americans SS) to change ?

[Dan O]

2 minutes ago, cjinchiangrai said:

Theoretically but not really. The foreign transfers to Thailand all bounce through K bank to be recorded and sorted but only for a few seconds. Regardless, manually forcing the system will not make it more effective or avoid taxes.

Not that I am aware of. I've been doing swift wire transfers for years. Swift was one of the original money transfer options before all the newer stuff like ach and wise started up.. its direct bank to bank. Can you provide a link showing otherwise?

[cjinchiangrai]

3 minutes ago, Dan O said:

Not that I am aware of. I've been doing swift wire transfers for years. Swift was one of the original money transfer options before all the newer stuff like ach and wise started up.. its direct bank to bank. Can you provide a link showing otherwise?

Other threads on visa discussed foreign transfers showing as domestic when K bank transfers to other banks. I do not have any direct links because I don't need to worry about it.

[Dan O]

1 minute ago, cjinchiangrai said:

Other threads on visa discussed foreign transfers showing as domestic when K bank transfers to other banks. I do not have any direct links because I don't need to worry about it.

Thats because swift is direct bank to bank and always has been. Its the others like deemoney and wise, other money movers etc that bounce through 1 of 3 banks before hitting your bank, unless yours is one of the 3. If money is transfer using one of those methods then the final transfer inside Thailand is shown as a domestic transfer. 

[flexomike]

1 hour ago, cjinchiangrai said:

Other threads on visa discussed foreign transfers showing as domestic when K bank transfers to other banks. I do not have any direct links because I don't need to worry about it.

All my transfers have come in showing as a foreign transfer

[flexomike]

2 hours ago, OneManShow said:

It was possible to deposit ACH via bkkb New York into a bank account in Thailand few years ago, not anymore, but only:

 

"Receive payments from US government agencies or private organizations (Direct Deposit service)."

Read the service details on the website, it sure sounds like if your bank can do an ACH transfer in IAT format that it still can be done. But I don't think there are very many financial istitutions that have this capability

 

 

[OneManShow]

45 minutes ago, flexomike said:

 

Well

i guess there is only one way, I'll add my bkkb to my US account for transfers (it was already connected 10 years ago, but I removed it) and see what will happen. 

[retarius]

On 9/1/2024 at 10:44 AM, OneManShow said:

I'm on SS benefits and I have an US bank account than my monthly payments direct deposit to that account. 
My question is how can I change the US bank to a Thai bank direct deposit, but not through Bangkok bank New York. I just want it to be direct deposit to my existing bkkb saving account. I have no access to my SS online account at this moment (waiting for code, but received it at my address after more than 2 months 🤔and the code was already expired) . 
Can I do this through SS Philippines ? Without opening a new account for this purpose ? 
 

NO. You need a special savings account with Bangkok Bank here. SS is paid in directly. 

[flexomike]

28 minutes ago, OneManShow said:

Well

i guess there is only one way, I'll add my bkkb to my US account for transfers (it was already connected 10 years ago, but I removed it) and see what will happen. 

that will only work if your US bank can do ACH transfers in IAT format, most can't

 

[flexomike]

22 minutes ago, retarius said:

NO. You need a special savings account with Bangkok Bank here. SS is paid in directly. 

Not true anymore you can use almost any Thai bank if you get your SS deposited by IDD, international direct deposit, my wife uses this method with Krungthai bank, I have mine with Bangkok Bank and it is deposited through Bangkok bank NY, ACH transfer. They changed this about four years ago. Bangkok no longer has a monopoly on SS deposits

[connda]

On 9/2/2024 at 11:26 AM, KhunLA said:

Open a TH bank account, I use BBL (BkkBank).  They give you as slip of paper with routing # to your account.   Contact SS via Manila and provide info.  It's that simple.

 

18 hours ago, timendres said:

 

When I set it up, I needed to take a form provided by Manilla into Bangkok Bank, and the bank had to fill in a section at the bottom (with routing and account numbers) and sign the form. Returned to Manilla, time passed, change complete. I do not think you can just call up Manilla and tell them the details. They need a properly signed document requesting the change.

 

But... it is simple just as @KhunLA suggests.

Years ago Social Security HAD to come though Bangkok Bank.  You HAD to set up a Bangkok Bank private account that was only used to receive you Social Security deposit - which you then HAD to go and collect in person.  That was a pain in the ass.

All of these references to using Bangkok Bank are old and the process is deprecated.  Yeah - you can still do it that way, but really - why?

Contact SSA in Manila and ask them to send you your Social Security payment to you - AT ANY BANK IN  THAILAND - using International Direct Deposit (IDD).
SSA began to offer that a few years back.  When they did, I shut down my Bangkok Bank account and had my SSA sent via IDD to Siam Commercial Bank.

Fyi - be aware of your options.  Personally I don't know why anyone would want to use the old Bangkok Bank method.  You really want to have to go to the bank to collect your money?  Honest - that's silly. 

Edited September 3 by connda

[OneManShow]

24 minutes ago, retarius said:

NO. You need a special savings account with Bangkok Bank here. SS is paid in directly. 

I thought rules have changed and it is possible to use any existing savings account for SS direct deposit. And if it is not possible to do this with bkkb, how about SCB ? 

[OneManShow]

10 minutes ago, flexomike said:

that will only work if your US bank can do ACH transfers in IAT format, most can't

 

Then that's why expats do transfers by different ways

[connda]

2 minutes ago, OneManShow said:

I thought rules have changed and it is possible to use any existing savings account for SS direct deposit. And if it is not possible to do this with bkkb, how about SCB ? 

You can sent the SSA payment to any bank in Thailand using International Direct Deposit (IDD).

I don't know why people insist on giving old information about having to use Bangkok Bank.  No - you do not need to use Bangkok Bank.

[KhunLA]

8 minutes ago, connda said:

If you are using IDD

 

 

Years ago Social Security HAD to come though Bangkok Bank.  You HAD to set up a Bangkok Bank private account that was only used to receive you Social Security deposit - which you then HAD to go and collect in person.  That was a pain in the ass.

All of these references to using Bangkok Bank are old and the process is deprecated.  Yeah - you can still do it that way, but really - why?

Contact SSA in Manila and ask them to send you your Social Security payment to you - AT ANY BANK IN  THAILAND - 

At the time, only option for IDD was BBL.  Too simple to do, as I stated, then, just open the account, and send routing # to SS @ Manila.   Been happy with them, so haven't changed.   No need to fix what isn't broken.

 

Now there are other options/banks, or so I read.  Don't think I ever stated, 'must use BBL' , and just happen to be the one I did use.

Edited September 3 by KhunLA

[connda]

10 minutes ago, flexomike said:

Bangkok no longer has a monopoly on SS deposits

And they enjoyed that monopoly too.  Once IDD showed up, I was like - 👋 "Goodbye Bangkok Bank!"

[connda]

Just now, KhunLA said:

At the time, only option for IDD was BBL.  Too simple to do, as I stated, then, just open the account, and send routing # to SS @ Manila.   Been happy with them, so haven't changed.   No need to fix what isn't broken.

 

Now there are other options/banks, or so I read.

KhunLA.  Once the change to IDD, SSA Manila could send your money to any bank.  I'd moved out of Chiang Mai to Lamphun.  But until the IDD option, I had to go collect my money at Bangkok Bank in Chiang Mai monthly.  As soon as IDD happened I immediately switched to SCB in Lamphun.  No requirement to collect your payment in person.  That was an utter PITA. 

[connda]

Just now, connda said:

KhunLA.  Once the change to IDD, SSA Manila could send your money to any bank.  I'd moved out of Chiang Mai to Lamphun.  But until the IDD option, I had to go collect my money at Bangkok Bank in Chiang Mai monthly.  As soon as IDD happened I immediately switched to SCB in Lamphun.  No requirement to collect your payment in person.  That was an utter PITA. 

So - you get your banks routing number and send that and your bank account number to SSA Manila and request IDD transfer to whatever bank you wish to send it to.  Personally I'm not of fan of Bangkok Bank. 

[KhunLA]

2 minutes ago, connda said:

And they enjoyed that monopoly too.  Once IDD showed up, I was like - 👋 "Goodbye Bangkok Bank!"

I never used DD, until IDD showed up.

[OneManShow]

11 minutes ago, connda said:

No - you do not need to use Bangkok Bank.

🙏

 

How about exchange rates. Do you know if they offer pretty much the same rates or different ? 

[KhunLA]

4 minutes ago, connda said:

So - you get your banks routing number and send that and your bank account number to SSA Manila and request IDD transfer to whatever bank you wish to send it to.  Personally I'm not of fan of Bangkok Bank. 

Yea, I hate them all.   BBL was at the Lotus's mall though, so convenient and never crowded.  Since there every Tuesday or so, for Swensen's 2 for 1 scoops, it was just too convenient.

 

Of course they closed that branch now, and only the main branch in town.  I just pop in every 3 or 4 months, so balance doesn't go over $10k USD, so 1 less thing to file.

[thesetat2013]

On 9/1/2024 at 10:44 AM, OneManShow said:

I'm on SS benefits and I have an US bank account than my monthly payments direct deposit to that account. 
My question is how can I change the US bank to a Thai bank direct deposit, but not through Bangkok bank New York. I just want it to be direct deposit to my existing bkkb saving account. I have no access to my SS online account at this moment (waiting for code, but received it at my address after more than 2 months 🤔and the code was already expired) . 
Can I do this through SS Philippines ? Without opening a new account for this purpose ? 
 

You can download this form to do it

SSA-1199-OP107 to change direct deposits 

[khagai1]

21 hours ago, Dan O said:

Swift wire transfers are direct bank to bank with no middle man banks involved. They come with the correct international bank code so for imm purposes its perfect. 

Not always true. I traced a Swift transfer that was slow and it went from Schwab Bank to Wells Fargo and then on to Bangkok Bank. I could trace the stops and the timestamps along the way with the help of Schwab.

[gamb00ler]

On 9/2/2024 at 10:51 AM, edwardflory said:

I do it the simple way.  I use my US BANK MC DEBIT to make deposits into my Thai bank account, ONE trip to the bank, make deposit from US card, withdraw THB at Thai bank  ATM.

On 30,000THB, my TOTAL CHARGES from US Bank last week was $3.12, exchange included ( based on XE exchange rate )

Have you checked the terms and conditions for using your bank debit card outside the US?  If you're using a Capital One MasterCard you won't be hit with a foreign transaction fee but most other banks do add that fee.  It may not be so easy to spot that fee on your US bank statement as the bank may just lump it into the effective exchange rate.

 

Below are the links to check the exchange rates for Visa and MasterCard.  They update those rates each Tue-Sat about 7AM Thai time  You can also see the rates for the recent past on these pages.  To get the correct numbers on these pages you have to specify that you're changing Thai ฿ to US $ because the bank gave you ฿ and you want to see how many US  $ will be withdrawn from your account.

 

https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html?amount=1000&fee=0.0&utcConvertedDate=&exchangedate=01%2F03%2F2022&fromCurr=USD&toCurr=THB&submitButton=

 

https://www.mastercard.us/en-us/personal/get-support/convert-currency.html

 

[edwardflory]

I have a small bank issued card, not a major. As I said, I use XE to find THEIR exchange rate, and, my total bank charges were SLIGHTLY over $3.00 for the last transfer this month - based on the XE exchange rate.  ( I have  US phone service here  and check bank account after my transfers ) . The $3.00+ range has been constant on 30,000bt for EVERY transfer this past year. I usually transfer 30,000bt each time I need spare change 😁.

 

[scorecard]

On 9/2/2024 at 12:24 PM, edwardflory said:

My Thai bank TELLER swipes my US Card, I sign 2 slips of paper, check my bankbook for correct deposit as I head to ATM, withdraw THB at ATM as I leave bank. ONE trip, one place, done in about 5 minutes. Total cost of transactiom of a 30,000bt transfer last week, $3.12  ( usually 3 to 5 mins wait time for teller not included )

 

OK but keep in mind that the Bank of Thailand has a policy (all banks must observe the policy) to massively reduce the number of ATM machines. 

 

I do all my banking (domestic and international transfers coming in every 4 weeks using my K Bank internet banking facility. (Includes 2 pension type 4 weekly payments from abroad, deposited directly into my K Bank savings account.)

 

A few months ago a K Bank call center staff told me that into the not too distant future the K Bank internet banking website will merge into the K Plus website. Credit / debit cards and all types of local / international transfers will still be available / managed through the merged site.  

Edited September 4 by scorecard

[Thailand J]

On 9/2/2024 at 10:51 AM, edwardflory said:

I do it the simple way.  I use my US BANK MC DEBIT to make deposits into my Thai bank account, ONE trip to the bank, make deposit from US card, withdraw THB at Thai bank  ATM.

On 30,000THB, my TOTAL CHARGES from US Bank last week was $3.12, exchange included ( based on XE exchange rate )

I do it the simpler way.

I have my SSA benefit deposited into my Schwab account.

Use my Schwab ATM card at any ATM . No fees after rebate.

 

[Etaoin Shrdlu]

Here's a link to the SSA form to use for direct deposit to Thai bank accounts:  https://www.ssa.gov/forms/ssa-1199-op107.pdf

 

Complete your portion and sign.  Then take it to your bank and have the bank complete their portion and sign and stamp.

 

Email a scan of the completed form to the SSA office in Manila and ask for it to be processed:  FBU.Manila-at-ssa.gov

 

You can have your SS benefits sent to any Thai bank and either a savings or a current account, including Bangkok Bank. Just don't have it sent to an existing Bangkok Bank savings account if it was previously set up to receive SS funds via New York, otherwise you'll have to go in person to withdraw the funds. 

Edited September 4 by cdnvic
Email address edited/removed as per rules.

[JohnnyBD]

28 minutes ago, Thailand J said:

I do it the simpler way.

I have my SSA benefit deposited into my Schwab account.

Use my Schwab ATM card at any ATM . No fees after rebate.

👍 I do the same, but with my SS being deposited in my US Chase Bank acct. I then use my Chase ATM card to withdraw from any ATM. Chase refunds the 220B ATM fee also. That's as simple & easy as it gets.

[OneManShow]

Thanks for all helpful posts. 🙏

[amexpat]

23 hours ago, flexomike said:

All my transfers have come in showing as a foreign transfer

Mine too because I use WISE and select "for long stay in Thailand" as the reason. 
SS goes into US acct then xfer to Bangkok Bank. 
I never needed any contact with Manila, SS, or Bangkok bank.  So easy.  
And cheap.