No Atm With Direct Deposit At Bangkok Bank?

[buadhai]

One of our US Social Security beneficiaries wrote me and said that Bangkok Bank told him he could not have an ATM card for an account into which his US Federal payment was deposited via EFT. At first the bank told him it was a US Treasury regulation. When I told him there was no such regulation he went back to the bank and they recanted and admitted it was just a Bangkok Bank rule.

Anyone out there have a similar experience? This beneficiary's Social Security is deposited in his Thai Bangkok Bank account by using the NY routing number and his local account number.

I'm was planning to have my Federal pension deposited the same way but will think twice if I can't get an ATM card for that account. I don't want to have to visit the bank, passport in hand every time I need some cash.

[Krub]

One of our US Social Security beneficiaries wrote me and said that Bangkok Bank told him he could not have an ATM card for an account into which his US Federal payment was deposited via EFT. At first the bank told him it was a US Treasury regulation. When I told him there was no such regulation he went back to the bank and they recanted and admitted it was just a Bangkok Bank rule.

Anyone out there have a similar experience? This beneficiary's Social Security is deposited in his Thai Bangkok Bank account by using the NY routing number and his local account number.

I'm was planning to have my Federal pension deposited the same way but will think twice if I can't get an ATM card for that account. I don't want to have to visit the bank, passport in hand every time I need some cash.

<{POST_SNAPBACK}>

It sounds like this is a non-resident account held at Bangkok Bank's Head Office only. On this type of account yoy cannot have an atm card. A 'normal' account with bank book will give you an atm card for 250 baht and can be used to credit overseas transfer funds

[sajal]

It sounds like this is a non-resident account held at Bangkok Bank's Head Office only. On this type of account yoy cannot have an atm card. A 'normal' account with bank book will give you an atm card for 250 baht and can be used to credit overseas transfer funds

<{POST_SNAPBACK}>

i used to have a non-resident account at bangkok bank head office and they gave me a be1st atm card and a bank book at the time of application...

during application, i was here on tourist visa and not yet applied for a work permit.

im no US citizen nor a pension/social security benefitiary but i did receive incoming wire transfer of $10,000 once my account was still a non-resident account.....

what exactly is a 'non-resident' account?

is this not a 'normal' account?

[buadhai]

It sounds like this is a non-resident account held at Bangkok Bank's Head Office only. On this type of account yoy cannot have an atm card. A 'normal' account with bank book will give you an atm card for 250 baht and can be used to credit overseas transfer funds

<{POST_SNAPBACK}>

This makes sense. The guy is married to a Thai and has lived in Bangkok for years, but has never bothered to get a long term visa -- he still does 30 day visa runs.

Thanks for clarifying....

[Upcountry]

Isn't there a big hit in terms of time and exchange charges to do it like this?

My wife deposited a check once last year. We had to wait a very long time to see the money. I don't recall the fees.

[buadhai]

The guy has told me that the payment is in the account within a couple of days of the direct deposit date (3rd of the month) and that the exchange rate is comparable to what he would get doing dollars to baht in Thailand.

[lopburi3]

The guy has told me that the payment is in the account within a couple of days of the direct deposit date (3rd of the month) and that the exchange rate is comparable to what he would get doing dollars to baht in Thailand.

<{POST_SNAPBACK}>

Unfortunately we have no way to compare without date/amounts and there are several dollar exchange rates depending on bill size and all are less than that for wire transfer. I take it his pension is not enough to qualify for support Thai wife or is he just not aware of it as an option? That 30 day run every month when living in Bangkok would probably not be that much fun - especially if he has to do it himself to save money.

Edited February 22, 2005 by lopburi3

[Wash]

I have a similar account to deposit my SSA benefit each month in the BKK Bank New York branch and subsiquently transfer to BKK Bank Bangkok, then transferred again to our nearby (28 km) branch of Bangkok Bank.

It is in fact true that you must visit the bank in person each month to withdraw these funds, and you must go to the branch that you opened your account in.

While I am not sure of the reason for these restrictions have always thought that it was a SSA requirement for depositing in a foreign bank to prevent people from collecting benefits after death. It is a pain but required for VISA if you intend to do support Thai wife or retirement proof of income.

[lopburi3]

It is really not required for support Thai wife visa. All you need to show is money in the bank of 400k or a signed letter from your Embassy that your have a pension of 40k per month (although they also like to see some money in an account).

What they request to see is some activity in your account each year to show that you are using it to live. You can transfer your money every month as you do now or every few months as I do or once a year. The money does not have to be directly deposited to your Thai bank account for an extension of stay based on support for Thai wife.

Most of us find it very handy to keep deposit for pension in a US bank and have use of a US debit card for Internet payments and such.

[buadhai]

I have a similar account to deposit my SSA benefit each month in the BKK Bank New York branch and subsiquently transfer to BKK Bank Bangkok, then transferred again to our nearby (28 km) branch of Bangkok Bank.

It is in  fact true that you must visit the bank in person each month to withdraw these funds, and you must go to the branch that you opened your account in. 

While I am not sure of the reason for these restrictions have always thought that it was a SSA requirement for depositing in a foreign bank to prevent people from collecting benefits after death.  It is a pain but required for VISA if you intend to do support Thai wife or retirement proof of income.

<{POST_SNAPBACK}>

How does the bank enforce this restriction? What if you open the account first, then get an ATM card and then set up the direct deposit? How would they stop you from withdrawing the funds with the ATM?

[buadhai]

I asked my GF to call Bangkok Bank in Thailand to clarify the ATM and direct deposit issues. Here's her report:

Just hung up with the customer service from Bangkok bank. So I asked her about doing direct deposit. This is what our conversation:

Q:  If the expatriate move to Thailand and wish to made direct deposit

from his federal pension. How do you suggest?.

A:  You should open saving account in Thailand and inform to your

employer that you wish to do direct deposit and give them account

detail and swift code of bank (I forgot to ask if there is any fee on

it).  When you open account, inform to teller that you want to have ATM.

In that case, you will be able to withdraw from ATM machine.

Q: Because one of my friend have current account and he was told to

withdraw the money from the counter.

A: That's why I recommended you to open "saving account".

Q: If the expatriate wish to open account in Thailand. Can he deposit

by using cashier's check after having  Thai bank account?. Because

he/she doesn't want to carry cash around.

A: If the cashier's check is under Thai bank's name, it takes 1 day for

verifying. If the cahsier's check is under foreign bank's name, it takes

about 45 days for verifying.

Q: Thank you very much for your help and I will call if I have any more

question.

A: You're welcome. It's pleased to help you about this. If you have any

more question, I'm willing to help you out.

[lopburi3]

=mgnewman,2005-02-24 08:37:33]I asked my GF to call Bangkok Bank in Thailand to clarify the ATM and direct deposit issues. Here's her report:

In other words you can not do it to directly to ACH and to a normal savings account. And I am sure there indeed will be normal wire transfer fees involved with this recommended method. Much better to DIY in my opinion and keep an account open in the US for direct deposit of pay/pension/tax refunds/insurance payments etc. Make a normal wire transfer once or twice a year.

Edited February 24, 2005 by lopburi3

[buadhai]

=mgnewman,2005-02-24 08:37:33]I asked my GF to call Bangkok Bank in Thailand to clarify the ATM and direct deposit issues. Here's her report:

In other words you can not do it to directly to ACH and to a normal savings account. And I am sure there indeed will be normal wire transfer fees involved with this recommended method. Much better to DIY in my opinion and keep an account open in the US for direct deposit of pay/pension/tax refunds/insurance payments etc. Make a normal wire transfer once or twice a year.

<{POST_SNAPBACK}>

I'm not sure what you mean, Lopburi3....

- Directly to ACH does not work because Bangkok Bank wants instructions with the check.

- Electronic Funds Transfer does work if you use the Thai bank account number and the New York routing number.

- You can deposit a dollar cashiers check into a Bangkok Bank account. (No fee from Bangkok Bank on this one.)

- Direct Deposit of pension funds does work. If it goes to a savings account you can use an ATM card to withdraw the funds.

- If you have a joint savings account, you can only get one ATM card.

I will keep an account open in the US for direct deposit of my pension. However, I think I will have a portion of the pension sent direct to a Bangkok Bank savings account. To avoid wire transfer fees, I will move money from the US to Thailand using a cashier's check. My bank charges only $5.00 for that. I realize it will take longer, but when it is only a few times a year you can plan ahead.

[lopburi3]

I'm not sure what you mean, Lopburi3....

- Directly to ACH does not work because Bangkok Bank wants instructions with the check.

- Electronic Funds Transfer does work if you use the Thai bank account number and the New York routing number.

- You can deposit a dollar cashiers check into a Bangkok Bank account. (No fee from Bangkok Bank on this one.)

- Direct Deposit of pension funds does work. If it goes to a savings account you can use an ATM card to withdraw the funds.

- If you have a joint savings account, you can only get one ATM card.

I will keep an account open in the US for direct deposit of my pension. However, I think I will have a portion of the pension sent direct to a Bangkok Bank savings account. To avoid wire transfer fees, I will move money from the US to Thailand using a cashier's check. My bank charges only $5.00 for that. I realize it will take longer, but when it is only a few times a year you can plan ahead.

<{POST_SNAPBACK}>

1. Electronic funds transfer (domestic wire transfer with a charge?) may work but have not seen a breakdown to show the costs/exchange loss that would make me want to try it. Your example of person living here on 30 day runs is not a confidence builder for me.

2. You say direct deposit works if sent to savings account but your above post says it can not be done (pension is not going to be sent SWIFT without intervention).

3. Cashiers check also begs the question at what exchange rate?

4. One ATM card (where did that come from?). I have two with our BBL Savings account.

I am not trying to be obstructive here and know you are working hard to find the best alternative - it is just that I do not believe we have enough information to decide yet.

Another method that some have reported using is a debit card to withdraw money at counter of bank and deposit into savings account - that seems to be attractive if immigration is willing to accept it and reported exchange rates are true.

[buadhai]

1.  Electronic funds transfer (domestic wire transfer with a charge?) may work but have not seen a breakdown to show the costs/exchange loss that would make me want to try it.  Your example of person living here on 30 day runs is not a confidence builder for me.

2.  You say direct deposit works if sent to savings account but your above post says it can not be done (pension is not going to be sent SWIFT without intervention).

3.  Cashiers check also begs the question at what exchange rate?

4.  One ATM card (where did that come from?).  I have two with our BBL Savings account.

I am not trying to be obstructive here and know you are working hard to find the best alternative - it is just that I do not believe we have enough information to decide yet. 

Another method that some have reported using is a debit card to withdraw money at counter of bank and deposit into savings account - that seems to be attractive if immigration is willing to accept it and reported exchange rates are true.

<{POST_SNAPBACK}>

1 - I agree, which is why I will have the bulk of my pension put into a US account.

2 - What I mean was that if it is a paper check it will not work unless accompanied by instructions. An all electronic transfer will work.

3 - Yep.

4 - We called Bangkok Bank in Bangkok and that's what we were told. Joint account: only one ATM card. I'm glad to hear that's incorrect.

I've also thought of doing the ATM withdrawal and redeposit. It seems convoluted, but may be an inexpensive option.

I'd sure like to hear from more people who are actually doing this.

Question to Wash: What exact exchange rate do you get on your Social Security checks that are deposited at the New York branch of Bangkok Bank?

I know you're not being obstructionist. I think it's great that you and others are raising issues that might not have been considered. Keep it up.

[BigSnake]

1.  Electronic funds transfer (domestic wire transfer with a charge?) may work but have not seen a breakdown to show the costs/exchange loss that would make me want to try it.  Your example of person living here on 30 day runs is not a confidence builder for me.

2.  You say direct deposit works if sent to savings account but your above post says it can not be done (pension is not going to be sent SWIFT without intervention).

3.  Cashiers check also begs the question at what exchange rate?

4.  One ATM card (where did that come from?).  I have two with our BBL Savings account.

I am not trying to be obstructive here and know you are working hard to find the best alternative - it is just that I do not believe we have enough information to decide yet. 

Another method that some have reported using is a debit card to withdraw money at counter of bank and deposit into savings account - that seems to be attractive if immigration is willing to accept it and reported exchange rates are true.

<{POST_SNAPBACK}>

1 - I agree, which is why I will have the bulk of my pension put into a US account.

2 - What I mean was that if it is a paper check it will not work unless accompanied by instructions. An all electronic transfer will work.

3 - Yep.

4 - We called Bangkok Bank in Bangkok and that's what we were told. Joint account: only one ATM card. I'm glad to hear that's incorrect.

I've also thought of doing the ATM withdrawal and redeposit. It seems convoluted, but may be an inexpensive option.

I'd sure like to hear from more people who are actually doing this.

Question to Wash: What exact exchange rate do you get on your Social Security checks that are deposited at the New York branch of Bangkok Bank?

I know you're not being obstructionist. I think it's great that you and others are raising issues that might not have been considered. Keep it up.

Any update on this requirement folks.

[lopburi3]

You revived a four year thread? The requirement stands - for direct deposit a special no ATM access account is required and only Bangkok Bank can be used. They will put the account in your local bank so you do not have to visit Bangkok - but to obtain funds you must present yourself to the bank in person. But there is no need to do every month (unless you need the money). The reason remains the same - to prevent dead people continuing to get pension payments.

[djvolak]

1. Electronic funds transfer (domestic wire transfer with a charge?) may work but have not seen a breakdown to show the costs/exchange loss that would make me want to try it. Your example of person living here on 30 day runs is not a confidence builder for me.

2. You say direct deposit works if sent to savings account but your above post says it can not be done (pension is not going to be sent SWIFT without intervention).

3. Cashiers check also begs the question at what exchange rate?

4. One ATM card (where did that come from?). I have two with our BBL Savings account.

I am not trying to be obstructive here and know you are working hard to find the best alternative - it is just that I do not believe we have enough information to decide yet.

Another method that some have reported using is a debit card to withdraw money at counter of bank and deposit into savings account - that seems to be attractive if immigration is willing to accept it and reported exchange rates are true.

<{POST_SNAPBACK}>

1 - I agree, which is why I will have the bulk of my pension put into a US account.

2 - What I mean was that if it is a paper check it will not work unless accompanied by instructions. An all electronic transfer will work.

3 - Yep.

4 - We called Bangkok Bank in Bangkok and that's what we were told. Joint account: only one ATM card. I'm glad to hear that's incorrect.

I've also thought of doing the ATM withdrawal and redeposit. It seems convoluted, but may be an inexpensive option.

I'd sure like to hear from more people who are actually doing this.

Question to Wash: What exact exchange rate do you get on your Social Security checks that are deposited at the New York branch of Bangkok Bank?

I know you're not being obstructionist. I think it's great that you and others are raising issues that might not have been considered. Keep it up.

I work in the us and live in thailand. Not retired yet as I am 47 but I send money monthly from my bank in Louisiana and the wire fee is 30 bucks. I send 800 to 1000 every month and have had no problems with that. The lady in the US bank also let me take a signature card to my wife as she does not have a visa yet and I got her a debit card on our account in the states so if she needs more she can pull it but I think she has only used the card once. Yes I got a good one, Ha! They wire the money thru the swift code from Regions Bank to my account at Bank of Ayudya there in Thailand seems to work well for me and the Mrs so far. Hope this helps. I am sure you couls do the same at most banks but probably not the signature card deal. I think the lady liked me.

[thaihome]

I think the thread was specifically about people that have chosen to have the Social Security Administration send their money directly into a Thai bank and the requirements they have placed on being able to do so. They could easily avoid this by having the money put in a US bank and do the wire transfer as you do.

TH

[bettr35790]

One of our US Social Security beneficiaries wrote me and said that Bangkok Bank told him he could not have an ATM card for an account into which his US Federal payment was deposited via EFT. At first the bank told him it was a US Treasury regulation. When I told him there was no such regulation he went back to the bank and they recanted and admitted it was just a Bangkok Bank rule.

Anyone out there have a similar experience? This beneficiary's Social Security is deposited in his Thai Bangkok Bank account by using the NY routing number and his local account number.

I'm was planning to have my Federal pension deposited the same way but will think twice if I can't get an ATM card for that account. I don't want to have to visit the bank, passport in hand every time I need some cash.

I HAVE JUST OPENED A SAVINGS ACCOUNT AT BANKOK BANK.

THIS IS THE ACCOUNT I WILL BE USING FOR THE DEPOSIT OF MY SOCIAL SECURITY CHECK.

THE REASON NO ATM CARDS ARE ISSUED IS BECAUSE UNCLE SAM IS MAKING SURE HE KEEPS HIS MONEY IN THE EVENT OF YOUR DEATH.

(AT LEAST THAT IS WHAT I WAS TOLD)

[PETERTHEEATER]

1.  Electronic funds transfer (domestic wire transfer with a charge?) may work but have not seen a breakdown to show the costs/exchange loss that would make me want to try it.  Your example of person living here on 30 day runs is not a confidence builder for me.

2.  You say direct deposit works if sent to savings account but your above post says it can not be done (pension is not going to be sent SWIFT without intervention).

3.  Cashiers check also begs the question at what exchange rate?

4.  One ATM card (where did that come from?).  I have two with our BBL Savings account.

I am not trying to be obstructive here and know you are working hard to find the best alternative - it is just that I do not believe we have enough information to decide yet. 

Another method that some have reported using is a debit card to withdraw money at counter of bank and deposit into savings account - that seems to be attractive if immigration is willing to accept it and reported exchange rates are true.

<{POST_SNAPBACK}>

1 - I agree, which is why I will have the bulk of my pension put into a US account.

2 - What I mean was that if it is a paper check it will not work unless accompanied by instructions. An all electronic transfer will work.

3 - Yep.

4 - We called Bangkok Bank in Bangkok and that's what we were told. Joint account: only one ATM card. I'm glad to hear that's incorrect.

I've also thought of doing the ATM withdrawal and redeposit. It seems convoluted, but may be an inexpensive option.

I'd sure like to hear from more people who are actually doing this.

Question to Wash: What exact exchange rate do you get on your Social Security checks that are deposited at the New York branch of Bangkok Bank?

I know you're not being obstructionist. I think it's great that you and others are raising issues that might not have been considered. Keep it up.

The usual left hand/right hand.

My branch of BBL refused to issue two ATM cards on our joint account (Thai wife and me) and I had to open a separate account in my name only in order to get a card. They then gave the card to my wife who signed it in error. I asked for another new card and the bank employee smiled and said no problem you can use this one. Naturally, I refused . smiling and got an new one. But, things were destined not to go right. As I stood up and turned to walk away I dropped the card, trod on it and scuffed it, signature side down!

I still have it unused!

[Pib]

One of our US Social Security beneficiaries wrote me and said that Bangkok Bank told him he could not have an ATM card for an account into which his US Federal payment was deposited via EFT. At first the bank told him it was a US Treasury regulation. When I told him there was no such regulation he went back to the bank and they recanted and admitted it was just a Bangkok Bank rule.

Anyone out there have a similar experience? This beneficiary's Social Security is deposited in his Thai Bangkok Bank account by using the NY routing number and his local account number.

I'm was planning to have my Federal pension deposited the same way but will think twice if I can't get an ATM card for that account. I don't want to have to visit the bank, passport in hand every time I need some cash.

It has just happened to me. I send part of my military pension to Bangkok Bank direct from the U.S. govt agency (DFAS) paying my retiree pay and just today/8 Jul I got a letter from Bangkok Bank dated late June 09 saying if I wanted to continue this monthly deposit I would need to open a "Direct Deposit account" no later than 30 July 09. The letter was titled: " Seeking your co-operation in compliance to a US regulation."

The letter goes on to say that unfortunately to withdraw/transfer funds from a direct deposit account it must be done using your passbook. This means withdrawal by any other person, making transactions with an electronic card, or using other channels is not allowed. Basically, you would need to go to any local Bangkok Branch and accomplish any account inquiry/transfer in person. You could transfer from this Direct Deposit account to your Normal Savings account (with the savings account you can have an ATM/debit card, internet banking, telephone banking, etc), but you would need to do the inquiry/transfer in person.

The first few paragraphs "focused" on U.S. regulations requiring a person receiving funds transferred from the U.S. govt that if he/she dies or is declared by a court as unable or of impaired ability, Bangkok Bank is required to hold the funds immediately after the death or court ruling, and the return the funds to the US govt. I expect this a problem may be driven by instants of a US govt retiree dieing, no one knowingly or unknowingly notifies the U.S. govt the pension is probably suppose to stop because the person/retiree died (especially the spouse on the joint account the money was going to), and the pension continues to flow in. And then the U.S. govt tries to recover the money from a person/spouse in a foriegn country--not an easy task.

Obviously such a Direct Deposit account which "physically" requires the account "sole" owner (the retiree) to go to a bank outlet and sign paperwork to initiate any fgunds transfer helps to confirm whether the person/retiree is still breathing/alive. And if he/she has passed away and obviously ain't able to physically go to a bank outlet to initiate a transfer, then the bank and US govt will "sooner vs later" find out the person has passed away and the pension check needs to stop. And since the person could not phyically go to the bank to withdraw/transfer funds, the pension deposits which have built-up are all available to transfer back to the US govt. The letter goes on to say if you find it inconvenient to open a Direct Deposit account (and it seems to me there are definitely plenty of inconveniences/limitations), the bank recommends the direct deposit occur to a U.S. bank instead and then either a SWIFT or ACH transfer be accomplished (i.e, basically wire the money from your U.S. bank), or use your U.S. ATM card to withdraw money from your US bank account.

I think the operative issue here is Bangkok Bank is trying to comply with a U.S. regulation since Bangkok Bank has banking operations in the U.S. (like their New York Bank).

But with above being said, I don't know how the U.S. govt would find out any/much sooner if the deposit was going to a joint account in a U.S. bank if the spouse/family didn't notify the govt....and the U.S. govt "does not" require direct deposit/pension to go into "direct deposit/sole, one-owner/limited" accounts in the U.S...the direct deposit can go into joint accounts like any other money transfer/deposit.

Since U.S. banks do not require a restrictive/limited Direct Deposit only account for govt direct deposits, why does Bangkok Bank require such an account?

Edited July 8, 2009 by Pib

[Pib]

I think the thread was specifically about people that have chosen to have the Social Security Administration send their money directly into a Thai bank and the requirements they have placed on being able to do so. They could easily avoid this by having the money put in a US bank and do the wire transfer as you do.

TH

Yes, but, it appears to apply to "all" U.S. govt agencies sending out pension checks (Social Security Administration, DFAS/Military, OPM, etc)....and wire transfer/SWIFT fees can be very expensive at most banks. Direct deposit from the U.S. govt agency via ACH routing is much cheaper.

[torrenova]

But can't you just move iot between accounts on the internet ?

[aurelius]

Think of the receiving a/c as a vault. BB will not let any electronic services connect to this account. Once you have fronted up and moved the money yourself to a different a/c, then you'll be free to link it to internet banking, atm etc.

One of the reasons that BB may be tougher than the US banks is probably the information environment in Thailand. Someone can die and the banks likely don't know about it. It the US and many other countries there are webs of information such as death registries that banks and social security agencies can use to check who has died, gone bankrupt, been imprisoned, etc. That info doesn't exist here and so puts the onus on an individual to "front up". Waiting for biometric voice authentication so it be done over the phone !!

[BigSnake]

Think of the receiving a/c as a vault. BB will not let any electronic services connect to this account. Once you have fronted up and moved the money yourself to a different a/c, then you'll be free to link it to internet banking, atm etc.

One of the reasons that BB may be tougher than the US banks is probably the information environment in Thailand. Someone can die and the banks likely don't know about it. It the US and many other countries there are webs of information such as death registries that banks and social security agencies can use to check who has died, gone bankrupt, been imprisoned, etc. That info doesn't exist here and so puts the onus on an individual to "front up". Waiting for biometric voice authentication so it be done over the phone !!

True no ATM with direct deposit to Bangkok Bank, I had an ATM with my DD to Bangkok Bank for seven years no problems, then about 4 months ago, no DD on due date, into BB, inform I must change account to DD ONLY, I cut up ATM on the spot, Bank Staffer cancel ATM in system, following afternoon money in my account. Mine you same account number, new bank book with there special code no ATM.

[Pib]

Think of the receiving a/c as a vault. BB will not let any electronic services connect to this account. Once you have fronted up and moved the money yourself to a different a/c, then you'll be free to link it to internet banking, atm etc.

One of the reasons that BB may be tougher than the US banks is probably the information environment in Thailand. Someone can die and the banks likely don't know about it. It the US and many other countries there are webs of information such as death registries that banks and social security agencies can use to check who has died, gone bankrupt, been imprisoned, etc. That info doesn't exist here and so puts the onus on an individual to "front up". Waiting for biometric voice authentication so it be done over the phone !!

Right on target! Even U.S. hospitals accomplish death notifications which end up going to govt agencies.

I setup a Deposit Only account today in case I decide to continue direct deposit/allotment to Bangkok Bank versus sending my pension money to a U.S. bank first and then SWIFTing/ACHing to Bangkok Bank/Thailand at the additional transfer cost. Setup of the deposit only account was a pretty painless/fast affair. Yes, the deposit only account comes with its limitations like you must do an in-person withdrawal/transfer with you passbook at any Bangkok Bank outlet (like moving the money to your regular savings account), but "if" you want to continue direct deposit/allotments from a U.S. govt agency (i.e, DFAS, Social Security, OPM, FAA, etc., which is coded in the deposit/allotment) to Bangkok Bank and not have Bangkok Bank freeze the transfer or send the money back to the sending U.S. govt agency, you will need to open a Direct Deposit account (as mentioned, pretty painless).

For other folks listening out there, Yes, in the U.S. you can send govt pensions/allotments to a joint account/pretty much any type of account. But remember there are other pension termination safeguards in your home country, you now live/have a bank account in Thailand, and must also comply with Thai banking system rules (which are different and attempting to also satisfy other countries rules at the same time). Wish it was easier, but the Sheriff is just enforcing the laws (whether we like the laws or not).