Bank Of America To Bangkok Bank Ltd

[Carmine6]

....

Why they include BB as one of their corresponding banks, I have no idea.

....

I think they include it since it is US located and it would be ok to send the money to an account at that branch (NY).

I think some transfers go through because as far as the system knows, the account is in NY. BBNY figures out it's a Thai account from the account number and forwards it on, but the BofA system won't know this. Above a certain dollar amount someone at BofA must eyeball the transactions and that's when they'll identify the wire as going overseas. Up until that amount it's all a routine, mostly automated setup and transaction process, or the volume is so high it gets past whoever is screening.

[richard10365]

My account is in California. California has one of the largest Thai populations in the USA. In fact, Los Angeles county has an area with its own zip-code called "Thai Town".

I think there is some kind of agreement with BOA and the Thai population in Los Angeles which allows Thai people to send loads of money from the USA to Thailand at a cheap price.

For BOA, this is a good way to get accounts from the Thai population in LA.

In other areas of the country, the wire transfers do not work. I would bet it is because that part of the country has no significant Thai population and not worth the trouble.

I bet similiar arrangements are available for populations from other countries, such as Vietnam.

LA is a big melting pot of different cultures from different countries and cheap wire transfers would be an attractive feature to lure potential customers.

I bet in other "melting pot" communities, such as New York, the BOA transfer works.

Do any TV members have BOA accounts in NY?

Maybe its far fetched too. But still possible.

[363885]

[

I also have BofA account and have never seen this option on their Internet Banking site.  A couple of years ago they specifically told me this was not available.  What state is your account in?  I wonder if there are different rules for each state.

Can you be more specific on how you initiated the option and how each transfer is handled? You say you called a number to get the option, what number? You start the transfer from the web site and then confirm the transfer via e-mail? You say you called a number to get the option, what number?

Thanks, this would be great, especially at the prices you quote.

TH

<{POST_SNAPBACK}>

I have an account in California. I sign onto my online acount.

This leads to a window with 5 main Tabs.

Accounts

Bill Pay & E-Bills

Transfer Funds

Investments

Customer Service

Click on the transfer funds tab. This tabe opens up to transfer options. Select Accounts at other financial institutions option (3rd on the right). Then follow the instructions for setting up your transfer account.

There is an initial amount of money that has to be sent to the Bangkok Bank to verify the right account in Thailand. It is not alot. Mine was 41 cents. BOA will send you an email telling you when the money is sent 3 working days later.

I called Bangkok Bank central office up and asked them to tell me the amount. The told me and I went back to my computer, signed back online, and to the transfer account section.

My next step was to verify the ability to transfer from my BOA account to my Bangkok Bank account by telling BOA the amound Bangkok Bank said they received.

Once that was complete, they informed me my transfer account to Bangkok Bank was now active and I can transfer money immediately.

I dont have the number I called at the Bangkok Bank but you can probably get it from their website online. http://www.bbl.co.th/Bangkok+Bank/main.htm

I wonder if money could be transfered this way via Paypal by just adding Bangkok Bank's ABA routing number. Has anyone tried this with Paypal?

[Tompa]

I wonder if money could be transfered this way via Paypal by just adding Bangkok Bank's ABA routing number. Has anyone tried this with Paypal?

Yes, you can easily transfer funds through paypal to your BKK Bank account (NY Branch). Once you have set it up with BKK Bank you just login to your Paypal account and add a bank account (under the Profile menu). You will be asked to add the Bank Name, Account Type, Routing Number and Account Number. All of this should have been provided to you when you set it up through BKK Bank.

I transfer funds at least once a week through this system and so far have never had any problems (touch wood ). I try to keep the transfers below 200,000 Baht as I think anything above that gets the attention of the Thai Revenue Department.

Tompa,

[363885]

Yes, you can easily transfer funds through paypal to your BKK Bank account (NY Branch). Once you have set it up with BKK Bank you just login to your Paypal account and add a bank account (under the Profile menu). You will be asked to add the Bank Name, Account Type, Routing Number and Account Number. All of this should have been provided to you when you set it up through BKK Bank.

I transfer funds at least once a week through this system and so far have never had any problems (touch wood ). I try to keep the transfers below 200,000 Baht as I think anything above that gets the attention of the Thai Revenue Department.

Tompa,

You mentioned "once you have set it up with BKK Bank", what do I have to do to it set up? Thanks.

[thaihome]

[

I also have BofA account and have never seen this option on their Internet Banking site.  A couple of years ago they specifically told me this was not available.  What state is your account in?  I wonder if there are different rules for each state.

Can you be more specific on how you initiated the option and how each transfer is handled? You say you called a number to get the option, what number? You start the transfer from the web site and then confirm the transfer via e-mail? You say you called a number to get the option, what number?

Thanks, this would be great, especially at the prices you quote.

TH

<{POST_SNAPBACK}>

I have an account in California. I sign onto my online acount.

This leads to a window with 5 main Tabs.

Accounts

Bill Pay & E-Bills

Transfer Funds

Investments

Customer Service

Click on the transfer funds tab. This tabe opens up to transfer options. Select Accounts at other financial institutions option (3rd on the right). Then follow the instructions for setting up your transfer account.

There is an initial amount of money that has to be sent to the Bangkok Bank to verify the right account in Thailand. It is not alot. Mine was 41 cents. BOA will send you an email telling you when the money is sent 3 working days later.

I called Bangkok Bank central office up and asked them to tell me the amount. The told me and I went back to my computer, signed back online, and to the transfer account section.

My next step was to verify the ability to transfer from my BOA account to my Bangkok Bank account by telling BOA the amound Bangkok Bank said they received.

Once that was complete, they informed me my transfer account to Bangkok Bank was now active and I can transfer money immediately.

I dont have the number I called at the Bangkok Bank but you can probably get it from their website online. http://www.bbl.co.th/Bangkok+Bank/main.htm

I wonder if money could be transfered this way via Paypal by just adding Bangkok Bank's ABA routing number. Has anyone tried this with Paypal?

A very old thread resurrected. I have twice gone through the verification process with BofA and again with First Interent Bank (FIB), both verification were successfully done and in the case of FIB $5k was transferred to my Bangkok Bank account. Both transfer setups were terminated with the reason given that the account must be a US account. They both said it was their ACH provider rules.

I have given up and gone back to SWIFT transfers. Never tried Paypal

TH

[lomatopo]

I've been using this transfer method since it was first mentioned here. Usually takes three business days (as counted in the U.S.A.), fee is $3 at BofA (and 500 THB at BBL which eats in to the resulting exchange rate).

I discovered another wire xfer option quite by accident. It is possible to make a domestic (originating in the U.S.A.) wire transfer to BBL PLC in NY, NY (ABA routing no.: 026008691) for which the fees are smaller, or in some cases zero. Include your Bangkok Bank account number and the SWIFT code BKKBTHBK in the "additional instructions" field, and the money will get into your Bangkok Bank account in 2 days, with the same interbank exchange rate less 500 THB.

[Thaiquila]

Does Siam Commercial Bank have a New York branch?

Edited September 4, 2006 by Thaiquila

[meadish_sweetball]

I have a US customer who requested a routing number for my Thai bank so he could make the international wire transfer to me. His bank told him the SWIFT code, account number and bank address was not enough.

Since I have never provided anyone with such a routing number before, I doubt his bank knows what they're talking about...?

Anyone have any thoughts on this?

[jing jing]

I have a US customer who requested a routing number for my Thai bank so he could make the international wire transfer to me. His bank told him the SWIFT code, account number and bank address was not enough.

Since I have never provided anyone with such a routing number before, I doubt his bank knows what they're talking about...?

Anyone have any thoughts on this?

I think your customer is mistaken, as your Thai bank will only have a SWIFT code - not a routing number - unless they have a branch in the US.

[richard10365]

I have a US customer who requested a routing number for my Thai bank so he could make the international wire transfer to me. His bank told him the SWIFT code, account number and bank address was not enough.

Since I have never provided anyone with such a routing number before, I doubt his bank knows what they're talking about...?

Anyone have any thoughts on this?

I think your customer is mistaken, as your Thai bank will only have a SWIFT code - not a routing number - unless they have a branch in the US.

Bangkok Bank NY has a routing number. I use it every month to get my money to the land of the single visa.

[lomatopo]

I have a US customer who requested a routing number for my Thai bank so he could make the international wire transfer to me. His bank told him the SWIFT code, account number and bank address was not enough.

Since I have never provided anyone with such a routing number before, I doubt his bank knows what they're talking about...?

Anyone have any thoughts on this?

Your U.S.-based customer needs to use an intermediary/correspondent bank which serves as your Thai Bank's 'gateway' in the U.S. Check with your Thai bank for their list of intermediary banks in the U.S.A., and their associated ABA routing number(s). In my case Bangkok Bank PLC in the U.S. serves as the intermediary bank for my account at Bangkok Bank here in Thailand. Bangkok Bank PLC's ABA routing number (branch is in NY, NY) is 026008691. Many wire transfer forms now ask for the ABA routing number of the intermediary bank, possibly as a result of compliance with the Patriot Act?

[meadish_sweetball]

Thanks for the advice. I use Siam Commercial Bank and have no idea what routing bank, if any, they use in the US. If somebody knows, I would appreciate the information.

Otherwise I will call my bank tomorrow. But I bet they won't know either.

UPDATE: The answer was "mai mee". My branch of SCB claimed they get lots of SWIFT transfers in from the US, without need for a routing number.

In this case I am more inclined to believe the Thai bank knows what they're talking about, since they after all receive regular SWIFT transfers from abroad, whereas knowing the somewhat insular nature of some US establishments, it is possible their bank staff does not understand how a SWIFT transfer works.

Either way, guess I might have to open a Bangkok Bank account to facilitate things for this customer.

...unless there are any more ideas?

[363885]

I discovered another wire xfer option quite by accident. It is possible to make a domestic (originating in the U.S.A.) wire transfer to BBL PLC in NY, NY (ABA routing no.: 026008691) for which the fees are smaller, or in some cases zero. Include your Bangkok Bank account number and the SWIFT code BKKBTHBK in the "additional instructions" field, and the money will get into your Bangkok Bank account in 2 days, with the same interbank exchange rate less 500 THB.

I just tried to set up a new bank on the PayPal account to which money could be transferred, with the new bank being Bangkok Bank of New York and the its ABA routing number, and the account being my Bangkok Bank account in Thailand. After inputing these information, PayPal automatically tried to do 2 trail transfers (the total amount of the 2 transfers equal to less than 1 dollar). After a couple of days, I received an email from PayPal indicating that both transfers have been rejected. Doesn't appear like it works with PayPal.

[sun_sailor]

Thanks for all this info...

I have a Bof A acct in California,

From what I gather here, I will need to open a Bangkok Bank -New York acct

and also a Bangkok bank Thailand acct once I get to Thailand next month?

I say this because I assume I need to set this up BEFORE I leave

the USA for Thailand..

Any comments on this? Thanks in advance

[lomatopo]

Thanks for all this info...

I have a Bof A acct in California,

From what I gather here, I will need to open a Bangkok Bank -New York acct

and also a Bangkok bank Thailand acct once I get to Thailand next month?

I say this because I assume I need to set this up BEFORE I leave

the USA for Thailand..

Any comments on this? Thanks in advance

No just open a Bangkok Bank account in Thailand. No need to set anything up before you leave; you can do it on the internet from Thailand.

Having said that, if you want to initiate wire transfers in the future, remotely and not utilizing the feature referenced in this thread with just a telephone call or fax, then these do have to be set-up in person at your bank prior to your departure.

[staccyy]

I want to set up this feature up with BOA and SCB. Not the usual wire (swift) transfer. but with the BOA online service.

SCB must has an ABA number as it has a bank in NYC. Does anybody out there know it?

Thanks!

[Gary A]

There appears to be a lot of confusion regarding codes and wire transfers. This applies to people with US bank accounts. I do my wire transfers on-line without any problems. First you MUST transfer dollars to avoid the exchange rate fee and to make sure it qualifies as coming from out of Thailand. Citibank charges a flat $30 regardless of the amount wired. The Siam Bank charge is so small that I'm not sure how much it really is. I am sure that even for large transfers it has never been higher than 500 baht. If I order the transfer during the week it has ALWAYS been in my Siam account the very next day. Here is the information the Citibank has and there has never been a problem;

S.W.I.F.T CODE SICOTHBK

TELEX NO. 20455 SIAMFX TH.

The Siam Commercial Bank Public Company Limited

For Pattaya Branch Of Account No. XXXXXXXXXX

XXXXXXXXXXXX

9 Rachadapisek Rd. Bangkok 10900 Thailand

[JimGant]

Citibank on-line wire transfer appears to be pretty slick. The following website provides some more info.

Citibank Wire Transfer Info

[meadish_sweetball]

Gary's post seems to confirm the problem lies with the US bank my customer uses...

Either Citibank finds out the routing number required themselves without asking the customer, or they use their own routing bank for international transfers, or they just don't follow the same system (differing internal requirements, differing levels of authorization for different banks?).

Anyways, what a hassle for just a few dollars. With such a huge economy as that of the US, you'd think the system for international banking would be smoother than this?

[thaihome]

Thanks for all this info...

I have a Bof A acct in California,

From what I gather here, I will need to open a Bangkok Bank -New York acct

and also a Bangkok bank Thailand acct once I get to Thailand next month?

I say this because I assume I need to set this up BEFORE I leave

the USA for Thailand..

Any comments on this? Thanks in advance

The NYC branch of Bankgok Bank is not a retail bank and you cannot open an account.

I am really glad to here people are still able to US ACH tranfer method to get money from BofA into their Thai banks, I still say it is only a matter of time before the ACH provider catches on and suspends the transfers.

TH

[richard10365]

Thanks for all this info...

I have a Bof A acct in California,

From what I gather here, I will need to open a Bangkok Bank -New York acct

and also a Bangkok bank Thailand acct once I get to Thailand next month?

I say this because I assume I need to set this up BEFORE I leave

the USA for Thailand..

Any comments on this? Thanks in advance

The NYC branch of Bankgok Bank is not a retail bank and you cannot open an account.

I am really glad to here people are still able to US ACH tranfer method to get money from BofA into their Thai banks, I still say it is only a matter of time before the ACH provider catches on and suspends the transfers.

TH

Why would they do that? It's not illegal. I'm sure there were some very smart people involved when this service was provided. The service does what it was designed to do.

Thailand has over 100,000 people living in the Los Angeles area who uses this system to send money back to Thailand on a regular basis. Bangkok Bank is making money because of this. They won't shut it down. BOA won't either because the Thai people in LA have accounts with BOA just for this reason. It's worth millions to both banks annually. And it's all legal.

Your right about the NYC branch of BKK Bank. You have to open the account in Thailand. I have been receiving my money via my Bkk Bank savings account for over 2 years now.

Once your here you can easily transfer your funds from your BOA account in Cali to Bangkok Bank NYC who then SWIFTs them to Thailand automatically.

[jcgodber]

Richard-

I have also been fighting trying to figure out how to transfer money. A few months ago I was in my branch in California expressly for the purpose of setting up a monthly or bi-monthly transfer. My branch suggested that I simply make my account here in Thailand a payee. Once I got back home I discovered that Home Banking did not do INTERNATIONAL payees.

I have now resorted to simply writing a personal check ($5000) and wait for it to clear and be added to my account here in Thailand at Siam City Bank. The plan worked perfectly except it took 34 days. The check had cleared B of A in only 14 days and the rest of the time S.C.B. had free use of my money.

I am very happy to read your post. I will try your way TODAY.

Once again thank you,

Jim Godber

Sa Kaeo,

[email protected]

[jcgodber]

Richard- I just now got back from my Bank of Bangkok branch in Kabinbui. The manager had no idea of what a ABA routing number is. I then had him call Bangkok to ask someone higher up the food chain that might know how to get the number. NO luck all they could do was keep showing me their SWIFT code number.

Question? What did you do on the Bank of America website in the box that asked for the routing number?

I wait your answer,

Jim, out in the boonies

[richard10365]

Richard- I just now got back from my Bank of Bangkok branch in Kabinbui. The manager had no idea of what a ABA routing number is. I then had him call Bangkok to ask someone higher up the food chain that might know how to get the number. NO luck all they could do was keep showing me their SWIFT code number.

Question? What did you do on the Bank of America website in the box that asked for the routing number?

I wait your answer,

Jim, out in the boonies

Routing Numbers are only used in the USA. The routing number is only used when sending from 1 bank in the USA to another. For instance, from Bank of America in California to Bangkok Bank in NYC. Once BKK Bank in NYC gets the money they automatically "SWIFTs" it to your account in Thailand.

Also, when you setup the transfer, you use the name on your account in Thailand as well as your account number and routing number.

The ABA routing number for Bangkok Bank PCL (29 Broadway, 20th floor, NY, NY 10006, phone 212 422-8200) is 026008691.

I hope this info helps.

***Richard***

[thaihome]

Why would they do that? It's not illegal. I'm sure there were some very smart people involved when this service was provided. The service does what it was designed to do.

Thailand has over 100,000 people living in the Los Angeles area who uses this system to send money back to Thailand on a regular basis. Bangkok Bank is making money because of this. They won't shut it down. BOA won't either because the Thai people in LA have accounts with BOA just for this reason. It's worth millions to both banks annually. And it's all legal.

Your right about the NYC branch of BKK Bank. You have to open the account in Thailand. I have been receiving my money via my Bkk Bank savings account for over 2 years now.

Once your here you can easily transfer your funds from your BOA account in Cali to Bangkok Bank NYC who then SWIFTs them to Thailand automatically.

I don't think I ever said it was illegal, I am just stating my experience with both BofA and FIB. In both cases, after successfully doing the verify transfers (and in the case of FIB actually making a $5k transfer) the transfers were suspended with the explanation the ACH provider would not do transfers to an account outside the US. Despite my arguments that the Bangkok Bank NYC branch was a US registered bank they were firm and will not process any more transfers.

Customer (Thaihome) - 02/12/2006 01:32 AM Please explain why you have suspended transfer service to an account you have already made 3 successful transfers.

Response (Mark) - 02/13/2006 08:59 AM

Dear Thaihome,

I am the ACH Coordinator here at First Internet. I have checked with our ACH provider on this situation for you. Our provider did some research and has determined that Bangkok Bank is domiciled outside of the Unite States and thus is not acceptable for ACH transfers. The previous transactions were apparently processed in error and they will not allow these transfers in the future.

TH

[jcgodber]

"SCB must has an ABA number as it has a bank in NYC. Does anybody out there know it?"

Siam City Bank

I went to the B of A home banking site and went to make transfer area. As you know The B of A does not have a listing for SCB but if you enter in the router box 021000021

You will be shown J.P. Morgan Chase Bank. I have now filled in the needed information (acct# & the aba routing #) and have initiated the two test transfers. I don’t know if it will work but I am quite hopeful. I will know more in 3 or 4 days

Instruction for wire transfer to our bank :

By SWIFT

SWIFT Address : SITYTHBK

ABA Routing No: 021000021 for Credit Account No.544746839

of Siam City Bank, Bangkok

Receiving Bank: SIAM CITY BANK

<Branch Name>, Sa Kaeo

THAILAND

Jim

[richard10365]

Richard- I just now got back from my Bank of Bangkok branch in Kabinbui. The manager had no idea of what a ABA routing number is. I then had him call Bangkok to ask someone higher up the food chain that might know how to get the number. NO luck all they could do was keep showing me their SWIFT code number.

Question? What did you do on the Bank of America website in the box that asked for the routing number?

I wait your answer,

Jim, out in the boonies

Routing Numbers are only used in the USA. The routing number is only used when sending from 1 bank in the USA to another. For instance, from Bank of America in California to Bangkok Bank in NYC. Once BKK Bank in NYC gets the money they automatically "SWIFTs" it to your account in Thailand.

Also, when you setup the transfer, you use the name on your account in Thailand as well as your account number and routing number.

The ABA routing number for Bangkok Bank PCL (29 Broadway, 20th floor, NY, NY 10006, phone 212 422-8200) is 026008691.

I hope this info helps.

***Richard***

Why would they do that? It's not illegal. I'm sure there were some very smart people involved when this service was provided. The service does what it was designed to do.

Thailand has over 100,000 people living in the Los Angeles area who uses this system to send money back to Thailand on a regular basis. Bangkok Bank is making money because of this. They won't shut it down. BOA won't either because the Thai people in LA have accounts with BOA just for this reason. It's worth millions to both banks annually. And it's all legal.

Your right about the NYC branch of BKK Bank. You have to open the account in Thailand. I have been receiving my money via my Bkk Bank savings account for over 2 years now.

Once your here you can easily transfer your funds from your BOA account in Cali to Bangkok Bank NYC who then SWIFTs them to Thailand automatically.

I don't think I ever said it was illegal, I am just stating my experience with both BofA and FIB. In both cases, after successfully doing the verify transfers (and in the case of FIB actually making a $5k transfer) the transfers were suspended with the explanation the ACH provider would not do transfers to an account outside the US. Despite my arguments that the Bangkok Bank NYC branch was a US registered bank they were firm and will not process any more transfers.

Customer (Thaihome) - 02/12/2006 01:32 AM Please explain why you have suspended transfer service to an account you have already made 3 successful transfers.

Response (Mark) - 02/13/2006 08:59 AM

Dear Thaihome,

I am the ACH Coordinator here at First Internet. I have checked with our ACH provider on this situation for you. Our provider did some research and has determined that Bangkok Bank is domiciled outside of the Unite States and thus is not acceptable for ACH transfers. The previous transactions were apparently processed in error and they will not allow these transfers in the future.

TH

Thaihome,

I would email First Internet Bank with the address and phone number to Bangkok Bank PCL (29 Broadway, 20th floor, NY, NY 10006, phone 212 422-8200, routing number 026008691) and tell them to get a new ACH researcher. If they could not find this bank in NYC then perhaps their bank is incompetent in other areas as well. Placing your money in their bank would be too risky.

But thats just me

[skipvice]

I set up my DFAS MyPay option to send my paycheck straight to Bangkok Bank. I'm not even going to use Bank of America now.

On MyPay, when I put in the routing number for Bangkok Bank in New York, it automatically found it in it's database. It said my paycheck would be sent to Bangkok Bank New York on Jan 2nd.

This should reduce my transfer and conversion fees to about $10/month.

Also, direct deposit done this way will still allow me an ATM card (with the Visa logo) because I had the account and ATM card before I set up direct deposit.

I'll let you know if it works or my money gets lost somewhere in cyberspace.

Did it Work? I am retiring in 2008 from Civ service and plan to retire in Thailand. looking for a way to transfer money to bbb on a monthly basis, hoping it worked for you. so I can use that route also.

Skip,USAF retred

[jcgodber]

I have heard all of the ideas for tranfering cash into Thailand.

The very best that I have so far found, that REALLY works is to simply write a personal check and deposit it into my Thai bank account at Siam City Bank, The charge for this is 220 baht .There is no charge from Bank of America

There is no other charges anywhere. The one down side is that the whole operation takes 37 days this last time.

But hay! so what. Just how much money did I lose for the 37 day on $5000.00 not much.

Plus I have all the documentation up on the Bank of America website with a picture of my check both front and back. I also have the proof of all my funds that I have brought into the country.

I will continue to use this plan until I hear some other plan that is bullitproof.