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Can still transfer via Bangkok Bank NY branch?

david_je
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david_je Silver Member

david_je

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Posted

I used to transfer funds from my Citibank account in NY to my Bangkok Bank account in Bangkok using ACH transfer via Bangkok Bank NY branch, using  their routing number. I have not done so in several years and wonder if still  can be done. Thanks.

TimBKK Silver Member

TimBKK

Posted
Posted
9 minutes ago, david_je said:

I used to transfer funds from my Citibank account in NY to my Bangkok Bank account in Bangkok using ACH transfer via Bangkok Bank NY branch, using  their routing number. I have not done so in several years and wonder if still  can be done. Thanks.


Yes, this is how I currently send transfers, exactly as you describe.  

tjintx Advanced Member

tjintx

Posted
Posted

I have BoA in the US and they stopped it several years ago, said it was part of anti-money laundering pressures from the US Government.    Now, BoA customers have to do a more expensive International Funds Transfer rather than "intra" US ACH.   About $50 per transfer now.

TimBKK Silver Member

TimBKK

Posted
Posted
7 minutes ago, tjintx said:

I have BoA in the US and they stopped it several years ago, said it was part of anti-money laundering pressures from the US Government.    Now, BoA customers have to do a more expensive International Funds Transfer rather than "intra" US ACH.   About $50 per transfer now.


You need a better bank, or brokerage - I use Vanguard, no fees for outgoing international wire transfers, electronically via BKK Bank in New York.

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david_je Silver Member

david_je

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1 hour ago, TimBKK said:


Yes, this is how I currently send transfers, exactly as you describe.  

That is good to know, thanks. I need to re-link the accounts for transfer -- pls confirm I put Bangkok Bank routing code 026008691 as routing number? (Pls excuse this very basic question but I want to be sure.)

Other poster says BoA no longer provides this, but I guess Citibank still does?

david_je Silver Member

david_je

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1 hour ago, TimBKK said:


You need a better bank, or brokerage - I use Vanguard, no fees for outgoing international wire transfers, electronically via BKK Bank in New York.

It is only no-fee if you have a certain amount assets in Vanguard, correct? Do you know what exchange rate they use for this?

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tjintx Advanced Member

tjintx

Posted
Posted
1 hour ago, TimBKK said:


You need a better bank, or brokerage - I use Vanguard, no fees for outgoing international wire transfers, electronically via BKK Bank in New York.

 

The OP asked whether domestic ACH through Bangkok Bank was still possible.   You implied it was then confirmed you do it through International funds transfer now rather than ACH.   Who I use is not relevant to the OP.

 

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tjintx Advanced Member

tjintx

Posted
Posted
19 minutes ago, david_je said:

That is good to know, thanks. I need to re-link the accounts for transfer -- pls confirm I put Bangkok Bank routing code 026008691 as routing number? (Pls excuse this very basic question but I want to be sure.)

Other poster says BoA no longer provides this, but I guess Citibank still does?

 

I doubt it, it was a Federal effort across all US financial institutions.    You could try, it is likely that it will be rejected.  I believe you have to use the routing code for Bangkok Bank Thailand now (you can look it up on Bangkok Bank's website.

tjintx Advanced Member

tjintx

Posted
Posted
25 minutes ago, david_je said:

That is good to know, thanks. I need to re-link the accounts for transfer -- pls confirm I put Bangkok Bank routing code 026008691 as routing number? (Pls excuse this very basic question but I want to be sure.)

Other poster says BoA no longer provides this, but I guess Citibank still does?

 

Re. exchange rates, Bangkok Bank uses close to market rates (you can look it up on: https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

 

They charge a small fee.   

 

Due to their fairly competitive  exchange rate and small fee on their end, I send dollars and let Bangkok Bank convert upon receipt.

TimBKK Silver Member

TimBKK

Posted
Posted
54 minutes ago, david_je said:

That is good to know, thanks. I need to re-link the accounts for transfer -- pls confirm I put Bangkok Bank routing code 026008691 as routing number? (Pls excuse this very basic question but I want to be sure.)

Other poster says BoA no longer provides this, but I guess Citibank still does?


Not sure - you will have to contact BKK bank NY.  Might be on their website, too.

tjintx Advanced Member

tjintx

Posted
Posted
1 hour ago, david_je said:

That is good to know, thanks. I need to re-link the accounts for transfer -- pls confirm I put Bangkok Bank routing code 026008691 as routing number? (Pls excuse this very basic question but I want to be sure.)

Other poster says BoA no longer provides this, but I guess Citibank still does?

 

I believe it is the Swift code you use rather than a routing number, see https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/FAQs

GammaGlobulin Star Member

GammaGlobulin

Posted
Posted

Very interesting.

Good info.

Not sure how this works though, and the cost, and the time to receive.

 

I will need to contact the international department of BKK Bank in Thailand...maybe....

 

Seems like a very good solution, however.

Glad I opened two BKK accounts in Thailand.

Getting tired of KBank, and new changes there (maybe just in my own mind, however).

 

Everyman Advanced Member

Everyman

Posted
Posted

It doesn’t work for ACH anymore only IAT and to my knowledge no retail US bank offers that. 

 

The guy with the the Vanguard account, are you sending IAT or Swift?

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david_je Silver Member

david_je

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1 hour ago, tjintx said:

 

I believe it is the Swift code you use rather than a routing number, see https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/FAQs

That FAQ also says "If you have a US bank account, you may be able to transfer funds to a Bangkok Bank account in Thailand via your bank’s internet banking service, using Bangkok Bank’s New York branch’s 9-digit routing number."

If so, that would seem to be cheaper. I don't pay fee for international wire from my Citibank account, but Citibank exchange rate for transfer (33,3667 at moment) is bad whereas I assume if go via Bangkok Bank NY it would be at more favorable Bangkok Bank rate.

I wonder if in addition to using that routing number, you need to tell them to deposit into your account in Bangkok -- besides, of course, giving them your account number.

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treetops Platinum Member

treetops

Posted
Posted

From reading other threads, it's unlikely that Citibank can do International ACH transfers, only domestic, so payment through BBL New York would not be possible from them.

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tjintx Advanced Member

tjintx

Posted
Posted
2 hours ago, david_je said:

For intl transfers, would that be their "TT buying rate" in that link? Thanks.

 

That is correct.

bamnutsak Platinum Member

bamnutsak

Posted
Posted
2 hours ago, david_je said:

For intl transfers, would that be their "TT buying rate" in that link? Thanks.

 

Assuming you send USD. Minus the 200 - 500 baht fee.

 

Fee for receiving funds from overseas: 0.25% of the transfer amount (Baht 200 Min., Baht 500 Max.) 

 

 

 

 

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