Can still transfer via Bangkok Bank NY branch?

[TallGuyJohninBKK]

12 hours ago, bamnutsak said:

 

Note that the fee to send USD and have that converted to THB in Thailand is $55. Converting USD to THB at BBL NYC (at a lower rate) results in the fixed/sliding fee schedule.

 

The process looks fairly complicated - judging from the Application for Foreign Remittance.

 

I look forward to some here explaining how they use this transfer method. Do you snail-mail the application form? Or email it?

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Foreign-Remittance

 

 

 

I don't know what $55 fee you're referencing above.

 

If someone sends a domestic wire to BKKB NY and they then forward it onward to the accountholder's BKKB account in Thailand, there's no $55 BKKB fee involved.

 

You're talking about the "foreign remittances" method, which is an entirely different deal from sending a domestic wire. When I looked at it originally, their "foreign remittance method was ridiculously complicated and onerous, so I never pursued it or even tried it.

 

Frankly, I've never known anyone who actually used that particular "foreign remittance" method with BKKB NY. And why would they, given that the old domestic ACH method and the still available domestic wire method involving BKKB NY were/are exceptionally inexpensive and easy.

 

 

[TallGuyJohninBKK]

12 hours ago, david_je said:

Sorry basic question, but how do you initiate the domestic wire from a Vanguard brokerage account to BKKB NY using routing number for onward transfer to BKKB account in Bangkok? Have you actually done this and what were fees like? I thought only option was intl wire, and Vanguard Intl Wire Option Form requires a SWIFT code for corresponding bank.

 

 

I don't have a Vanguard account, so I can't speak to their particulars.

 

But both of my other U.S. brokerages offer online access to both domestic and international wire transfers from within their online banking setups.

 

I have done the BKKB NY domestic wire onward to BKKB TH with one of those brokerages in the past, and it was exceptionally easy and uncomplicated. As I mentioned above, for the recipient info, you enter BKKB NY's 9-digit routing number (the same as you would for a regular ACH transfer) and then your BKKB TH account number as the recipient account.

 

When BKKB NY receives a domestic wire like that, they see and can recognize the recipient account number is associated with whatever of their branches in Thailand, and send the funds onward accordingly. There's no need to provide any written instructions to accomplish that.... and frankly, it's probably better to NOT write any such thing. As domestic wires are meant to be DOMESTIC, BKKB NY's workaround notwithstanding.

 

As far as BKKB's fees for that, they were small. I don't remember the exact amounts off-hand, but my general recollection was BKKB NY charges a relatively small handling fee for their end of things, and then BKKB TH charges their typical amount-based wire transfer funds handling fee, as best as I recall, 0.25% capped at 500 baht, AFAIR.

 

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

 

But again, as I mentioned above, it's been a couple of years since I last checked on the domestic wire transfer method, and anyone wanting to pursue it would be well-served to give BKKB NY a phone call and inquire. There used to be one staff lady there who handled all those kinds of transactions and her English was perfectly fine.

 

I don't see any mention of the domestic wire transfer method via BKKB NY on BKKB TH's website -- only IAT or foreign remittance. But that was the case in the past as well, back when I did my domestic wires, shortly after BKKB discontinued their original ACH service via the NY branch.

 

 

[TallGuyJohninBKK]

12 hours ago, david_je said:

Sorry basic question, but how do you initiate the domestic wire from a Vanguard brokerage account to BKKB NY using routing number for onward transfer to BKKB account in Bangkok?

 

From doing some quick searching, it seems that Vanguard doesn't make domestic wires especially easy or visible for their customers, but apparently they can be done...  See the following thread and discussion by Vanguard account holders on the subject:

 

https://www.bogleheads.org/forum/viewtopic.php?t=280847