This Months Australian Pension.

[paulchiangmai]

Received my four weekly pension payment from the Australian government on 9th November. Bangkok bank rate [TT] on that day was 30.57750 Baht for one Australian dollar, I received 27.151 Baht per Australian dollar. I have always in the past received the TT rate. I took my statements along to the Bangkok bank this afternoon and they gave me a copy of the money's movement. Centrelink, the Australian government pensions dept' passed the money to Citi bank who then sent it to Citi bank in Ireland, almost exactly the opposite side of the globe to Australia. Citi bank Ireland then sent it to Citi bank Thailand [bangkok] who then transferred it to Bangkok bank in Bangkok who then sent it on to my account in Chiang Mai. Everybody took there fees out as the money went along in spite of the Australian government telling me that they bear all costs prior to it reaching my bank account.

My next move will be a letter to Centrelink however I know in advance what their responce will be, 'I'ts out of our control'.

Any other pensioners out there with a similar experience?

[Theo007]

I have my pension paid into an Australian bank account and then draw it out in 20,000 baht lots as I need it. If you can find a pink ( Thai Government ) ATM you may also avoid the 150 baht fee.

[Dave the Dude]

and thats not the only 150b free Bank. Other threads on TV refers

[fishhooks]

Paul:

There is a comprehensive pinned thread running on the "Other Country Visa section" re Oz Pension matters, perhaps re-post there as there are many getting their pensions in the way you describe.

I'm not in the situation as yet, but I may be soon and will always maintain an Australian Bank Account as I probably will share time between the two country's.

Have Centrelink pay to a local Oz bank AS LONG as that suits your circumstance.

Very simple to do your own TT transfers to Thailand from your own bank (in Australian Dollars, a must to get a really good TT rate)

I'm with Siam Comm, even though they don't have a direct transfer from my bank in OZ, it goes via TMB, in real terms there is virtually no loss and I end up with almost the same rate as displayed on the SCB TT rate page. Sometimes takes less than an hour to go OZ-TMB-SCB.

I watch on the Internet, it land in Thailand.

[gotlost]

Its not what an American bank did or did not do its YOUR GOVERNMENT.

[rick75]

Fishhooks I bank with NAB in Australia and you can't do a T/T over the internet to Thailand is on a list of countries excluded, you actually have to go into a branch to transfer the funds what bank are you with that allow it to be done over the net....Cheers Rick

[paulchiangmai]

Its not what an American bank did or did not do its YOUR GOVERNMENT.

I agree with you gotlost re the Australian government however from the time my pension left the government's hands it went round the world via American banks. If you think any bank has the right to take 5,394 Baht, 13%, from my old age pension then you think different to me.

[paulchiangmai]

Paul:

There is a comprehensive pinned thread running on the "Other Country Visa section" re Oz Pension matters, perhaps re-post there as there are many getting their pensions in the way you describe.

I'm not in the situation as yet, but I may be soon and will always maintain an Australian Bank Account as I probably will share time between the two country's.

Have Centrelink pay to a local Oz bank AS LONG as that suits your circumstance.

Very simple to do your own TT transfers to Thailand from your own bank (in Australian Dollars, a must to get a really good TT rate)

I'm with Siam Comm, even though they don't have a direct transfer from my bank in OZ, it goes via TMB, in real terms there is virtually no loss and I end up with almost the same rate as displayed on the SCB TT rate page. Sometimes takes less than an hour to go OZ-TMB-SCB.

I watch on the Internet, it land in Thailand.

Thanks for that fishhooks, I will check it out. Some years ago I did have my pension paid into an Australian bank and would then withdraw it via ATM however the banks introduced a 2.5% fee plus A$4 per transaction, my bank at that time told me that VISA were charging the 2.5%. Yet another American bank that is set on robbing the poor to pay the rich.

[gotlost]

No bank should be taking out the transfer fees that they are but it seems to me that you are blaming this problem on the yanks when it is clear that your own countrymen have offered you excellent advise on how to transfer but you are bent on blaming others. Wake up and smell the roses.

[GungaDin]

Paul,

why not change banks?

Westpac online banking and Kasikorn as the receiving bank.

Set up max daily withdrawals of A$1500 or A$5000 per day.

Fees are A$20 per transaction/transfer by Westpac.

[jackspratt]

Paul,

why not change banks?

Westpac online banking and Kasikorn as the receiving bank.

Set up max daily withdrawals of A$1500 or A$5000 per day.

Fees are A$20 per transaction/transfer by Westpac.

+1

[backsoon]

Paul,

why not change banks?

Westpac online banking and Kasikorn as the receiving bank.

Set up max daily withdrawals of A$1500 or A$5000 per day.

Fees are A$20 per transaction/transfer by Westpac.

+1

An International Money Transfer (IMT) from your Aus Bank acc into any of Thai bank acc

will cost you AUS$22 flat rate per transfer. Once a month it will save you a lot. Further saving is available if you use FOREX transfer,- only AUS$15 per transfer. All up it adds to about 1.7-1.2 % of your pension. Easily done on internet. The exchange must be done here, not by your bank in Aus. Any local bank must be bound by International rules when converting here. You will be getting ex rate within 0.1% of internet quote. Any excuses they will try,- shove to them Int. Rules of ex, as set in London. Good luck.

[zzaa09]

The financial institutions are just like family, aren't they?

[fishhooks]

As Gungadin says, Westpac does a direct transfer to Kasikorn, very convenient.

Commonwealth goes via TMB to whatever Thai bank you are with.

Both I have found as good as each other.

If TMB as in the middle of some of the transfers are taking a fee, it must be a few Satang as the rate I get on a transfer is virtually the same as on the SCB TT Rate for the day.

[paulchiangmai]

No bank should be taking out the transfer fees that they are but it seems to me that you are blaming this problem on the yanks when it is clear that your own countrymen have offered you excellent advise on how to transfer but you are bent on blaming others. Wake up and smell the roses.

Stick to the question gotlost, 'Any other pensioners out there with a similar experience'

If you want to start a thread on American banks be prepared to be inundated with people who will not have a good word to say about them. Having lived in the US for five years I am qualified to comment. My own countrymen's advise came after I asked the question, I thank them for it. Your sarcasm came before I had time to read their advice.

[chuckd]

It was just George Bush and BIG OIL getting their cuts.

Methinks gotlost has a good point. Why blame the banks for what your government did. Either accept it or change it.

[harrry]

I think that the problem is simply that the OP is expecting the transfer to have been made at the internal rate. There is a spreadof about 3% between the rate in and out of thailand ....a kind of thai currency tax. Pensions are converted in Australia at the local rate of the day of conversion and are paid without transfer fees at all. If you could be paid in dollars here you could convert at the Au rate but you are probably better off taking the external rate and no charges than the bank transfer fees.

[gotlost]

No bank should be taking out the transfer fees that they are but it seems to me that you are blaming this problem on the yanks when it is clear that your own countrymen have offered you excellent advise on how to transfer but you are bent on blaming others. Wake up and smell the roses.

Stick to the question gotlost, 'Any other pensioners out there with a similar experience'

If you want to start a thread on American banks be prepared to be inundated with people who will not have a good word to say about them. Having lived in the US for five years I am qualified to comment. My own countrymen's advise came after I asked the question, I thank them for it. Your sarcasm came before I had time to read their advice.

Let me repeat this again NO BANK SHOULD BE TAKING OUT THESE ADSORBENT FEES PERIOD so stop your whining listen to your own countryman and find a better way to transfer funds.

[aussiebob]

No bank should be taking out the transfer fees that they are but it seems to me that you are blaming this problem on the yanks when it is clear that your own countrymen have offered you excellent advise on how to transfer but you are bent on blaming others. Wake up and smell the roses.

Stick to the question gotlost, 'Any other pensioners out there with a similar experience'

If you want to start a thread on American banks be prepared to be inundated with people who will not have a good word to say about them. Having lived in the US for five years I am qualified to comment. My own countrymen's advise came after I asked the question, I thank them for it. Your sarcasm came before I had time to read their advice.

Let me repeat this again NO BANK SHOULD BE TAKING OUT THESE ADSORBENT FEES PERIOD so stop your whining listen to your own countryman and find a better way to transfer funds.

Hey GOTLOST, if you haven't got anything constructive to add to ANY thread , why don,t you GET LOST

[Bizz]

interesting have a friend in foreign exchange in Dublin will ask why it came via citi in Ireland.

id love to strangle the buggers.

old age pension scan by a defunct bank paulson is buying citi why may i ask.

defunct bank

[ozzydom]

Strange things seem to be happening here, I have been receiving my Oz OAP direct in baht into my Bangkok bank for years without a problem.

I am paid monthly and my pension is converted into Thai baht at Centrelink and wired to my Thai A/c.

It is converted at the international rate prevailing at that minute in time and Centrelink pay all transfer costs ,last month my conversion rate was 30.62 baht per AUD and that is what was deposited to my a/c here.

If posters feel they are getting a raw deal in any way, why not call Centrelink on their toll free number and try to get the problem sorted,

I feel sure that all overseas pension recipients are treated equally because these payments are computer generated from Hobart.

There are no other banks involved in the pension transfer,Centrelink pay all costs for the carrier to deposit your pension in your Thai bank A/c, if this is not happening then there must be something amiss with the way you have set up your a/c,s.

Edited November 17, 2009 by ozzydom

[chuckd]

My US Social Security is deposited directly into my Bangkok Bank account monthly.

It is deposited at the daily exchange rate. A fee of 200 Baht is charged for the service.

No fees are being charged by any other bank, including those nasty US types. OP needs to contact his government and see what they can do about the problem.

[paulchiangmai]

Strange things seem to be happening here, I have been receiving my Oz OAP direct in baht into my Bangkok bank for years without a problem.

I am paid monthly and my pension is converted into Thai baht at Centrelink and wired to my Thai A/c.

It is converted at the international rate prevailing at that minute in time and Centrelink pay all transfer costs ,last month my conversion rate was 30.62 baht per AUD and that is what was deposited to my a/c here.

If posters feel they are getting a raw deal in any way, why not call Centrelink on their toll free number and try to get the problem sorted,

I feel sure that all overseas pension recipients are treated equally because these payments are computer generated from Hobart.

There are no other banks involved in the pension transfer,Centrelink pay all costs for the carrier to deposit your pension in your Thai bank A/c, if this is not happening then there must be something amiss with the way you have set up your a/c,s.

Thanks for this info ozzydom, I have asked centrelink in Tasmania to directly pay my pension into my Bangkok Bank account and they tell me they can not do this to Thailand. I am certainly going to take your advice and contact them and will quote what you have said here. In the seven years I have been recieving the Australian pension it has always gone through other banks before reaching me. Centrelink have in the past told me they pay all costs untill it reaches my bank account, this is not true in my case and I have pointed this out to Centrelink who have a stock, standard reply for me 'it is out of our hands'. Reading directly from a statement that Bangkok bank gave me I see that this months pension incurred a 139 Baht charge, a 300 Baht charge and a 200 Baht charge, not bad for a government that tells me they carry all charges. I might also add that I have been trying to contact Centrelink on their free number from my home phone and every time get the message that this number is not in service.

Once again thanks, you have given me renewed hope.

[paulchiangmai]

My US Social Security is deposited directly into my Bangkok Bank account monthly.

It is deposited at the daily exchange rate. A fee of 200 Baht is charged for the service.

No fees are being charged by any other bank, including those nasty US types. OP needs to contact his government and see what they can do about the problem.

Thanks chuckd, you will see from my last post that I am following your advice.

[chuenyongman]

Paul,

why not change banks?

Westpac online banking and Kasikorn as the receiving bank.

Set up max daily withdrawals of A$1500 or A$5000 per day.

Fees are A$20 per transaction/transfer by Westpac.

+1

An International Money Transfer (IMT) from your Aus Bank acc into any of Thai bank acc

will cost you AUS$22 flat rate per transfer. Once a month it will save you a lot. Further saving is available if you use FOREX transfer,- only AUS$15 per transfer. All up it adds to about 1.7-1.2 % of your pension. Easily done on internet. The exchange must be done here, not by your bank in Aus. Any local bank must be bound by International rules when converting here. You will be getting ex rate within 0.1% of internet quote. Any excuses they will try,- shove to them Int. Rules of ex, as set in London. Good luck.

Where can I download the rules from ? Thank you.

[fishhooks]

What rules are you seeking yrreg?

[ozzydom]

Strange things seem to be happening here, I have been receiving my Oz OAP direct in baht into my Bangkok bank for years without a problem.

I am paid monthly and my pension is converted into Thai baht at Centrelink and wired to my Thai A/c.

It is converted at the international rate prevailing at that minute in time and Centrelink pay all transfer costs ,last month my conversion rate was 30.62 baht per AUD and that is what was deposited to my a/c here.

If posters feel they are getting a raw deal in any way, why not call Centrelink on their toll free number and try to get the problem sorted,

I feel sure that all overseas pension recipients are treated equally because these payments are computer generated from Hobart.

There are no other banks involved in the pension transfer,Centrelink pay all costs for the carrier to deposit your pension in your Thai bank A/c, if this is not happening then there must be something amiss with the way you have set up your a/c,s.

Thanks for this info ozzydom, I have asked centrelink in Tasmania to directly pay my pension into my Bangkok Bank account and they tell me they can not do this to Thailand. I am certainly going to take your advice and contact them and will quote what you have said here. In the seven years I have been recieving the Australian pension it has always gone through other banks before reaching me. Centrelink have in the past told me they pay all costs untill it reaches my bank account, this is not true in my case and I have pointed this out to Centrelink who have a stock, standard reply for me 'it is out of our hands'. Reading directly from a statement that Bangkok bank gave me I see that this months pension incurred a 139 Baht charge, a 300 Baht charge and a 200 Baht charge, not bad for a government that tells me they carry all charges. I might also add that I have been trying to contact Centrelink on their free number from my home phone and every time get the message that this number is not in service.

Once again thanks, you have given me renewed hope.

PCM, is the number you have 001 800 611 4136 ? , I have had no problems with this number from my mobile , prior to the release of this number I used to call them on +61 3 6222 3455 and they would return my call immediately. Hope you get it sorted mate.

By the way ,I just checked my statement, and I have no fees charged against my A/C, my only charges are 100 baht for foreign bank atm withdrawals when I am in Cambodia (regularly) and 20 baht for local atm withdrawals.

[paulchiangmai]

Strange things seem to be happening here, I have been receiving my Oz OAP direct in baht into my Bangkok bank for years without a problem.

I am paid monthly and my pension is converted into Thai baht at Centrelink and wired to my Thai A/c.

It is converted at the international rate prevailing at that minute in time and Centrelink pay all transfer costs ,last month my conversion rate was 30.62 baht per AUD and that is what was deposited to my a/c here.

If posters feel they are getting a raw deal in any way, why not call Centrelink on their toll free number and try to get the problem sorted,

I feel sure that all overseas pension recipients are treated equally because these payments are computer generated from Hobart.

There are no other banks involved in the pension transfer,Centrelink pay all costs for the carrier to deposit your pension in your Thai bank A/c, if this is not happening then there must be something amiss with the way you have set up your a/c,s.

Thanks for this info ozzydom, I have asked centrelink in Tasmania to directly pay my pension into my Bangkok Bank account and they tell me they can not do this to Thailand. I am certainly going to take your advice and contact them and will quote what you have said here. In the seven years I have been recieving the Australian pension it has always gone through other banks before reaching me. Centrelink have in the past told me they pay all costs untill it reaches my bank account, this is not true in my case and I have pointed this out to Centrelink who have a stock, standard reply for me 'it is out of our hands'. Reading directly from a statement that Bangkok bank gave me I see that this months pension incurred a 139 Baht charge, a 300 Baht charge and a 200 Baht charge, not bad for a government that tells me they carry all charges. I might also add that I have been trying to contact Centrelink on their free number from my home phone and every time get the message that this number is not in service.

Once again thanks, you have given me renewed hope.

PCM, is the number you have 001 800 611 4136 ? , I have had no problems with this number from my mobile , prior to the release of this number I used to call them on +61 3 6222 3455 and they would return my call immediately. Hope you get it sorted mate.

By the way ,I just checked my statement, and I have no fees charged against my A/C, my only charges are 100 baht for foreign bank atm withdrawals when I am in Cambodia (regularly) and 20 baht for local atm withdrawals.

Yes ozzydom, that is the number. I am suspecting that my home phone is not letting me use it for overseas calls and will check this out with TT&T on Monday. Incidentally I have copied your excellent info and will send a copy in a letter to centrelink. You have the system that I have been trying to get for years. I am very grateful to you. Paul.

[ozzydom]

PCM , the procedure I followed was ,I contacted Centrelink International and told them I wished to have my pension payed into my Thai bank a/c , they sent me a form to fill out (usual info ,name ,adress, file number, passport number ,bank name, branch and a/c number).

This form was to be stamped by the bank and affixed with their seal saying it was true and correct, it was to include Bangkok Banks Swift code number.

The bank refused to do this as they maintained that it would leave them open to claim should the money go astray.(They have an agreement with USA to safeguard themselves should this occur ,but not Oz ).

However they gave me a covering letter confirming my account details and that they were equipped to receive telegraphic transfers through Swift (Swift code BKK BTHBK ). and that was it.

Pay day is on a Thursday and it arrives into my a/c by evening on the following Tuesday (5 working days).

Hope this info is of use.

You can only speak as you find and I have had only prompt and courteous service from the many people I have had phone conversations with at the Hobart office ,(maybe being a Tasmanian has something to do with it

[paulchiangmai]

PCM , the procedure I followed was ,I contacted Centrelink International and told them I wished to have my pension payed into my Thai bank a/c , they sent me a form to fill out (usual info ,name ,adress, file number, passport number ,bank name, branch and a/c number).

This form was to be stamped by the bank and affixed with their seal saying it was true and correct, it was to include Bangkok Banks Swift code number.

The bank refused to do this as they maintained that it would leave them open to claim should the money go astray.(They have an agreement with USA to safeguard themselves should this occur ,but not Oz ).

However they gave me a covering letter confirming my account details and that they were equipped to receive telegraphic transfers through Swift (Swift code BKK BTHBK ). and that was it.

Pay day is on a Thursday and it arrives into my a/c by evening on the following Tuesday (5 working days).

Hope this info is of use.

You can only speak as you find and I have had only prompt and courteous service from the many people I have had phone conversations with at the Hobart office ,(maybe being a Tasmanian has something to do with it

ozzydom, they have always been helpful to me also yet have not given me that information. Armed with copies of your letters I do now feel I have a good chance to straighten this out once and for all. As you know you get a lot of people that are well meaning on this forum but their information does not really help, you also get some <deleted> whose advice you can do without and then every once in a while you get someone like yourself that gets the job done. Thanks, am very grateful, Paul.