Letter Of Instruction / 2 Questions

[TonySoprano]

1. "To submit an International Wire Request, you will need to complete a Letter of Instruction.

The U.S.A. Patriot Act requires that the purpose of the wire be included in the Letter of Instruction. Please make sure you have filled out the form completely to include the name and ABA number of the corresponding U.S. bank."

http://www.tdameritrade.com/forms/TDA818.pdf

I suppose I can get the corresponding US Bank information from Bangkok Bank?

2. Is there anyway to lock in a set exchange rate so I don't have to worry about being ripped off or having my USD exchanged for THB in the US? There is nothing on this form about sending in USD or THB.

Thanks

[Langsuan Man]

1. "To submit an International Wire Request, you will need to complete a Letter of Instruction.

The U.S.A. Patriot Act requires that the purpose of the wire be included in the Letter of Instruction. Please make sure you have filled out the form completely to include the name and ABA number of the corresponding U.S. bank."

I suppose I can get the corresponding US Bank information from Bangkok Bank?

If you are wiring money OUT of the US and into a Thai Bank you should obtain the ABA routing number or SWIFT number from the RECEIVING bank

If you are wiring money out of a US Bank to another US Bank then you will have to obtain this information from the US Banks. But it appears to me that if you are using TD Ameritrade they would have THEIR OWN ABN number

2. Is there anyway to lock in a set exchange rate so I don't have to worry about being ripped off or having my USD exchanged for THB in the US? There is nothing on this form about sending in USD or THB.

It will automatically be sent in US dollars since you will fill out the form in US dollars, it will be changed to THB here and there is nothing you can do to insure what rate you get

[TonySoprano]

Well I guess all US bank transactions in the USA first go to the US Bangkok Bank and then onto the Thai Bangkok Bank, atleast that is what the form implies. This form is strictly for 'International Wires' not for local.

[T_Dog]

Before I left the USA, I asked for and received several blank wire transfer forms from US Bank. They provided their routing number/SWIFT code and I put in my account number. My bank in Thailand provided their routing/account numbers for it and then I faxed it off to US Bank. You should also arrange a security arrangement such as a necessary phone call or security word. You should be able to call your bank in the USA and have them send the forms that work for them. In other words, work first with the bank where the money originates from.

Hope that helps. It all works very smooth for me but I have not found a way to lock in an exchange rate.

[hhgz]

"Well I guess all US bank transactions in the USA first go to the US Bangkok Bank and then onto the Thai Bangkok Bank, atleast that is what the form implies. This form is strictly for 'International Wires' not for local."

I'm not sure that I understand this. Too, I'm not sure that you understand this.

I'm not familiar with TD Waterhouse, Ameritrade or the combination of the two. Regardless, the SWIFT instruction has the broker send the money to a bank in the US, and then send the money to a bank outside of the US. Although TDWhatever commented about the US Patriot Act, the SWIFT form was used before the US had a Patriot Act. You can SWIFT from the US to a foreign country, or vice versa. When I moved to Thailand, I opened ab ank account with a thousand baht, and then SWIFted money to the account from the US. When I had money SWIFTed from a foreign country to the US - into my brokerage account, it became a little involved. First, the money was SWIFTed into the general brokerage's account, with the further instruction: "FBO <my name> <my account number>. In English: For the Benefit Of: <my name> <my account number>. The first time you do this, it seems complicated and, if you make a copy of the form for your records, it will make it a lot easier for future transfers.

Good luck!