I'm pretty dim when it comes to international transfers. In fact, I've never done any sort of transfer in thirty years in Asia. I've made a bit of money here over the years and money from stage I used to carry in to get a better rate. Anyway...

My US community bank now requires my physical presence to do a wire transfer,  so I'm pretty much screwed in trying to deposit a large lump sum when US currency favors it. 

 

So, I'd like the money just sent here. I guess as a bonus it will be marked as Social Security in coming and there won't be any question whether it is tax-free in Thailand or not. 

 

I have the routing and account number. 

 

Can anyone give me a rough idea of how I notify Social Security? Is that a phone call or when I sign up will there be an online form (and can I add international bank)?

 

Will they send a tiny test deposit (no)?

 

Two options:

 

1. If I deposit to Bangkok Bank then I will just have to pull much if not all of it out monthly and put it in SCB anyway. This also creates a bubble on my FBAR.

 

2. After doing some reading here I find that I can actually deposit the money directly into SCB. 

 

As Bangkok Bank has a bank in New York is it easier to do this deposit? 

 

How can I go about getting the money deposited directly to SCB? 

 

I'll be signing up for Social Security January along with Medicare I can never use lol

 

Thanks for any assistance.

6 minutes ago, MarcusAurelius said:

I'm pretty dim when it comes to international transfers. In fact, I've never done any sort of transfer in thirty years in Asia. I've made a bit of money here over the years and money from stage I used to carry in to get a better rate. Anyway...

My US community bank now requires my physical presence to do a wire transfer,  so I'm pretty much screwed in trying to deposit a large lump sum when US currency favors it. 

 

So, I'd like the money just sent here. I guess as a bonus it will be marked as Social Security in coming and there won't be any question whether it is tax-free in Thailand or not. 

 

I have the routing and account number. 

 

Can anyone give me a rough idea of how I notify Social Security? Is that a phone call or when I sign up will there be an online form (and can I add international bank)?

 

Will they send a tiny test deposit (no)?

 

Two options:

 

1. If I deposit to Bangkok Bank then I will just have to pull much if not all of it out monthly and put it in SCB anyway. This also creates a bubble on my FBAR.

 

2. After doing some reading here I find that I can actually deposit the money directly into SCB. 

 

As Bangkok Bank has a bank in New York is it easier to do this deposit? 

 

How can I go about getting the money deposited directly to SCB? 

 

I'll be signing up for Social Security January along with Medicare I can never use lol

 

Thanks for any assistance.

SS will ask you where you want it deposited.  Avoid NY BBL, as SS will send direct to TH.  Have your routing account # available, and you're set.  Really is too easy.

 

It will show up in your account consistently the 1st week of the month.   Usually before noon on the 3rd of the month, 9 out of 12 months.  As late as the 6th or 7th, I think.

11 minutes ago, KhunLA said:

SS will ask you where you want it deposited.  Avoid NY BBL, as SS will send direct to TH.  Have your routing account # available, and you're set.  Really is too easy.

 

It will show up in your account consistently the 1st week of the month.   Usually before noon on the 3rd of the month, 9 out of 12 months.  As late as the 6th or 7th, I think.

What is the problem of getting it sent direct to Thailand? Either you are getting it sent to your bank in the states or it is getting sent direct too Thailand. If it goes through NY Bank it is an ACH transfer and if it goes too any other bank it is an IDD transfer, there is an intermediary  bank with both systems. The benefit of using IDD is that you can have a ATM card with it, ACH which is only Bangkok Bank no card.

Here's the link to SSA Form 1199 so you can have your Social Security benefits sent directly to the Thai bank you choose.

 

https://www.ssa.gov/forms/ssa-1199-op107.pdf

 

 

1 hour ago, MarcusAurelius said:

My US community bank now requires my physical presence to do a wire transfer,  so I'm pretty much screwed in trying to deposit a large lump sum when US currency favors it. 

 

Open Wise account, link to your community bank.

 

Send (no charge) ACH transfer bank->wise as needed.

 

Wise xfer in baht will get a better exchange rate, deposited into your Thai bank.  Wise limits are 2 million baht for BBL and Kbank, 1.5 million to SCB.

1 hour ago, KhunLA said:

SS will ask you where you want it deposited.  Avoid NY BBL, as SS will send direct to TH.  Have your routing account # available, and you're set.  Really is too easy.

 

It will show up in your account consistently the 1st week of the month.   Usually before noon on the 3rd of the month, 9 out of 12 months.  As late as the 6th or 7th, I think.

 

Thanks, you're always so helpful 🙏🙏

 

I'm hoping when I set it up online I can add it there and no call is needed. 

1 hour ago, flexomike said:

What is the problem of getting it sent direct to Thailand? Either you are getting it sent to your bank in the states or it is getting sent direct too Thailand. If it goes through NY Bank it is an ACH transfer and if it goes too any other bank it is an IDD transfer, there is an intermediary  bank with both systems. The benefit of using IDD is that you can have a ATM card with it, ACH which is only Bangkok Bank no card.

 

There's no problem per se, but if I bring the money in quarterly or twice a year I can watch the cross rates and hopefully get better forex

 

I want to simply have it sent to my SCB account for which I have ATM card already. This is the account I use for monthly spending

17 minutes ago, NoDisplayName said:

 

Open Wise account, link to your community bank.

 

Send (no charge) ACH transfer bank->wise as needed.

 

Wise xfer in baht will get a better exchange rate, deposited into your Thai bank.  Wise limits are 2 million baht for BBL and Kbank, 1.5 million to SCB.

 

I plan on opening a wise account and wanted to ask some questions, but keep those separate from this one. 

 

My bank connects only to Zelle and domestic only. Looking at the wise app I should be about to do a transfer to wise (I think it's ACH)? I'll bring over additional money in this manner. 

 

If I can't transfer to Wise from my bank I've got a real problem. Not immediate, but serious. Bc the bank is so local it just blocks international services these days. It's ultra security minded. Trouble is best security is just NO. 

 

The in person wire transfer is absolutely ridiculous. 

 

Just let my 401ks ruminate and spend down the community bank balance. 

 

Thank you 

9 minutes ago, MarcusAurelius said:

I want to simply have it sent to my SCB account for which I have ATM card already. This is the account I use for monthly spending

My BBL account, where SS goes, doesn't allow an ATM card.  So I pop in every 3rd or 4th month (depending on exchange rate), and withdraw / deposit in wife's account, to avoid filing FBAR.

1 hour ago, flexomike said:

ACH which is only Bangkok Bank no card.

 

I have a typical SCB account with a card already attached. Will I need some special account for the transfer,?  In the past I'd read yes, but now lately no. Your detailed information has me concerned. I don't think I need a new account?? ?

11 minutes ago, KhunLA said:

My BBL account, where SS goes, doesn't allow an ATM card.  So I pop in every 3rd or 4th month (depending on exchange rate), and withdraw / deposit in wife's account, to avoid filing FBAR.

 

That's the way my BBL account is set up. I just get a pile of cash every so often. My life is so simple I don't need online banking. I don't even need a ATM card tbh. I love cash. Cold, hard, anonymous cash ...

 

So, this will be a problem for my SCB account? 

 

I'm really not liking BBL lately well never 555

 

I can move the money around to other banks to free up BBL account/s for incoming SS funds

 

When I fill out the form should I be certain I use a bank account that does not have ATM to avoid initial problems?? 

 

I'll always have to file FBAR bc I keep money for medical here. But bc It's the highest balance of the year moving the money from bank to bank effectively doubles the amount of money. It's honestly never been a problem but it just looks funky and it's not The actual amount that I have So it bugs me. 

2 minutes ago, MarcusAurelius said:

 

That's the way my BBL account is set up. I just get a pile of cash every so often. 

 

So, this will be a problem for my SCB account? 

 

I'm really not liking BBL lately well never 555

 

I can move the money around to other banks to free up BBL account/s for incoming SS funds

 

When I fill out the form should I be certain I use a bank account that does not have ATM to avoid initial problems?? 

Not a BBL fan myself, but too lazy to open another account elsewhere, and not much would change, as I'd do the same.   I'd do app transfers to her account (if I can) but I prefer them not to show as transfers in.  Hence the visit & dep in to hers.  Quite convenient at our local branch, as small town.

Just now, KhunLA said:

Not a BBL fan myself, but too lazy to open another account elsewhere, and not much would change, as I'd do the same.   I'd do app transfers to her account (if I can) but I prefer them not to show as transfers in.  Hence the visit & dep in to hers.  Quite convenient at our local branch, as small town.

 

Are you aware if there is an actual rule - no ATM card attached to acct for social security deposits?

 

Is it just a BBL rule? 

 

Maybe I'll just use BBL for the transfer after reading this unless someone can clarify 

 

Thanks 

Just now, MarcusAurelius said:

 

Are you aware if there is an actual rule - no ATM card attached to acct for social security deposits?

 

Is it just a BBL rule? 

 

Maybe I'll just use BBL for the transfer after reading this unless someone can clarify 

 

Thanks 

I think it's a rule, as when first opened, it rarely worked.  So I cancelled, as wasn't a fan of the yearly fee to begin with.   Then later on read ATM were allowed on SS accounts.  I think so someone can't keep withdrawing you fund if you crap out, and SS never finds out.

 

AI states the same, and specifically names BBL.  Not sure about other banks in TH.  

 

3 minutes ago, KhunLA said:

I think it's a rule, as when first opened, it rarely worked.  So I cancelled, as wasn't a fan of the yearly fee to begin with.   Then later on read ATM were allowed on SS accounts.  I think so someone can't keep withdrawing you fund if you crap out, and SS never finds out.

 

AI states the same, and specifically names BBL.  Not sure about other banks in TH.  

 

 

Haha that was definitely a consideration for the wife lol.

 

Thanks. BBL definitely others high probability. 

21 minutes ago, MarcusAurelius said:

 

I plan on opening a wise account and wanted to ask some questions, but keep those separate from this one. 

 

My bank connects only to Zelle and domestic only. Looking at the wise app I should be about to do a transfer to wise (I think it's ACH)? I'll bring over additional money in this manner. 

 

If I can't transfer to Wise from my bank I've got a real problem. Not immediate, but serious. Bc the bank is so local it just blocks international services these days. It's ultra security minded. Trouble is best security is just NO. 

 

The in person wire transfer is absolutely ridiculous. 

 

Just let my 401ks ruminate and spend down the community bank balance. 

 

Thank you 

 

Don't use the wise app to pull money from your bank.  That incurs an additional fee.

 

Use your community bank app or online to push to wise using ACH.  That is a domestic transfer to your own named wise account at a US branch, so shouldn't be a problem.

 

You could always open a new US bank account for your SS funds.  Navy Federal Credit Union will open for you while overseas.  You can use Thai address and phone number, and they will send credit cards to Thailand.

 

Don't have to be former navy.  I think it's enough that you've watched at least two episodes of McHale's Navy to qualify (or buy a $5 membership is some charity).

ANYONE...

 

How many months prior to when I want to receive the funds should I apply online (followed by form to Manila)?

 

Is 2.5 months ok?

 

But I'll receive the money an additional month later correct?! I wanted to time it to coincide trip to USA. 

 

Apply Jan 10 for payout end March? But it won't come until even early May?? I can apply up to Dec 4 - better? Sorry I have this question I have nuts in the Social Security website in depth. 

7 minutes ago, NoDisplayName said:

 

Don't use the wise app to pull money from your bank.  That incurs an additional fee.

 

Use your community bank app or online to push to wise using ACH.  That is a domestic transfer to your own named wise account at a US branch, so shouldn't be a problem.

 

You could always open a new US bank account for your SS funds.  Navy Federal Credit Union will open for you while overseas.  You can use Thai address and phone number, and they will send credit cards to Thailand.

 

Don't have to be former navy.  I think it's enough that you've watched at least two episodes of McHale's Navy to qualify (or buy a $5 membership is some charity).

 

Thanks that's good info. I think I should be able to push the money to Wise. It's just not the priority at the moment. I'll have more questions about that and weeks or months 

 

I think that credit card union is located in San Diego and I'll try and set that up when I'm back in States 

 

I'm a dead-ender here and running out of addresses in US. I'm down to one

 

🙏🙏

Marcus,

Pib provided me with a fantastic education.  See link:

 

5 minutes ago, MarcusAurelius said:

I think that credit card union is located in San Diego and I'll try and set that up when I'm back in States 

 

You can open your NFCU bank account from Thailand.

57 minutes ago, MarcusAurelius said:

 

There's no problem per se, but if I bring the money in quarterly or twice a year I can watch the cross rates and hopefully get better forex

 

I want to simply have it sent to my SCB account for which I have ATM card already. This is the account I use for monthly spending

I use the monthly deposit for my extension of stay 

24 minutes ago, KhunLA said:

I think it's a rule, as when first opened, it rarely worked.  So I cancelled, as wasn't a fan of the yearly fee to begin with.   Then later on read ATM were allowed on SS accounts.  I think so someone can't keep withdrawing you fund if you crap out, and SS never finds out.

 

AI states the same, and specifically names BBL.  Not sure about other banks in TH.  

 

Originally Bangkok Bank was the only bank you could use for monthly deposits. When they opened up all of the banks for SS deposits which are called IDT you could get a card. My wife uses Krung Thai and she has a card.

48 minutes ago, MarcusAurelius said:

 

I have a typical SCB account with a card already attached. Will I need some special account for the transfer,?  In the past I'd read yes, but now lately no. Your detailed information has me concerned. I don't think I need a new account?? ?

You should be able to get it directly transferred to your current SCB account.

11 minutes ago, OneZero said:

Marcus,

Pib provided me with a fantastic education.  See link:

 

 

This is all great information, but much of it is non applicable to me. Given my basic understanding it's difficult to gleen what's for me and what's not

 

Thanks 

4 minutes ago, flexomike said:

Originally Bangkok Bank was the only bank you could use for monthly deposits. When they opened up all of the banks for SS deposits which are called IDT you could get a card. My wife uses Krung Thai and she has a card.

 

Does anyone know if I can use a card with SCB???

 

I can obviously call or walk in but who knows the quality of that information 

 

 

 

 

 

Edit   I see you've answered that thank you so much

In addition to Navy credit union which per above I can open overseas and use overseas address ..

 

Wasn't there also a San Diego Credit Union or State Department credit union pitched here as well some time ago??

 

Any of these better or worse?

 

Any idea ability to link Treasury Direct?

 

 

I have my SS benefits sent to my US bank account. I keep the minimum balance necessary to keep the US account open. I then use WISE Transfer to send my SS benefit every month to my Thai bank account. Never had a problem yet. Costs about $13.00 per transaction which is once a month for me.

 

I'm thinking about having the benefits sent directly to my Thai bank account but I must understand what the exchange rate is all about.