Us Military International Direct Deposite

[richard10365]

Richard,

     Nah, I don't have many bills. And I don't have many hobbies either so I got to do something. I just want to try this TEFL thing to see what it's like.

     If the chance comes up you should convert your VEAP to the GI Bill. You can bank a good chunk of it after paying the tuition and books at a "fine" educational establishment such as Bangkok University  My calculations show being able to put 25,000 - a month in the bank for 36 months...after expenses using that little bennie.

      I'll probably just go with the BUPA health insurance unless using that HVC deal that JUSMAG talks about is better. Everybody keeps telling me about the disability rating thing...but I really ain't got nothing to document. Guess I've done a poor job of playing sick bay commando 

      How long have you been in Thailand ?

P.S. (I wanted to try raising cows like Ramdomchances but the old lady doesn't want to be a farmer  )

<{POST_SNAPBACK}>

I still have GI Bill benefits, but I was under the impression they can't be used in Thailand or most other places outside US.

Any sites or inside info to verify?

I'd jump at the opportunity to go to Bangkok U....

BUPA or other private medical is really the way to go.

<{POST_SNAPBACK}>

Sriracha John.....try this website

http://www.gibill.va.gov/

Foreign Program Approval

http://www.gibill.va.gov/education/OS_Trng.htm

Edited October 20, 2005 by richard10365

[Storekeeper]

The VA ruined that website a year or so ago. They used to list all the foreign schools world-wide that have ever been approved in the past.

I verified with the VA that Bangkok University has been approved in the past for their MBA Program. You can check Escapeartist.com and find articles by a fella named Scott Hipscher who used the GI Bill to attend BU.

The VA also advised me that they have approed students to use the GI Bill previously at Chulalongkorn, Assumption and Thammasat. Strangely enough they've never approved anybody to use the GI Bill at Webster in Hua Hin.

[sriracha john]

I don't believe I can convert VEAP anymore. It's not being offered. I don't have any universities anywhere close to where I live so I really couldn't go to school.

I have considered internet courses but they bite too much into my budget so I decided against it.

Your lucky to go 28 years and be healthy. I think I got too close to ionizing radiation when I was a young soldier. Now I have hypothyroidism and pernicious anemia. I'm still waiting for the VA to rate me.

Speaking of the VA, chances are you won't be enrolled in the VA health care program because you make too much money.

The VA health care program is different from Tricare. I was suprised when I got a letter saying they would not enroll me. They said based on my income when I retired, I wouldnt be enrolled. I was very disappointed when I found this out. Oh well......life goes on.

Teaching is fun sometimes in Thailand. I do this a little for farm kids near by. If you can teach yourself to read and write Thai, it will be a lot easier. Usually, people in the small village are very nice. If your wife comes from a small farm village, maybe you can teach there. Just don't teach for the money.....it's not a lot.

<{POST_SNAPBACK}>

Just curious, were you monitored at all for your radiation exposure? If so, do you recall your lifetime exposure numbers for ionizing radiation, Richard? What was the nature of your exposure? Weapons, I imagine? I've had both weapons and power plants as well as a third, shooting X-rays... all monitored by badges, although actually it's really a rather insignificant amount.

If your VA rating comes back... and it's over 50% or over, they'll pay for any medical problems, not only your rated ones, while overseas on a payback basis.

[sriracha john]

Richard,

     Nah, I don't have many bills. And I don't have many hobbies either so I got to do something. I just want to try this TEFL thing to see what it's like.

     If the chance comes up you should convert your VEAP to the GI Bill. You can bank a good chunk of it after paying the tuition and books at a "fine" educational establishment such as Bangkok University  My calculations show being able to put 25,000 - a month in the bank for 36 months...after expenses using that little bennie.

      I'll probably just go with the BUPA health insurance unless using that HVC deal that JUSMAG talks about is better. Everybody keeps telling me about the disability rating thing...but I really ain't got nothing to document. Guess I've done a poor job of playing sick bay commando 

      How long have you been in Thailand ?

P.S. (I wanted to try raising cows like Ramdomchances but the old lady doesn't want to be a farmer  )

<{POST_SNAPBACK}>

I still have GI Bill benefits, but I was under the impression they can't be used in Thailand or most other places outside US.

Any sites or inside info to verify?

I'd jump at the opportunity to go to Bangkok U....

BUPA or other private medical is really the way to go.

<{POST_SNAPBACK}>

Sriracha John.....try this website

http://www.gibill.va.gov/

Foreign Program Approval

http://www.gibill.va.gov/education/OS_Trng.htm

<{POST_SNAPBACK}>

The VA ruined that website a year or so ago. They used to list all the foreign schools world-wide that have ever been approved in the past.

I verified with the VA that Bangkok University has been approved in the past for their MBA Program. You can check Escapeartist.com and find articles by a fella named Scott Hipscher who used the GI Bill to attend BU.

The VA also advised me that they have approed students to use the GI Bill previously at Chulalongkorn, Assumption and Thammasat. Strangely enough they've never approved anybody to use the GI Bill at Webster in Hua Hin.

<{POST_SNAPBACK}>

Thanks guys..... I'm off like a shot to go check this out... I never knew that anything had changed regarding these. Guess it really does pay to continually revisit programs as they do change so often.

I'm going back to the States very soon for a few weeks, but when I come back, I will definitely be going to school! Not sure I'd be interested in an MBA courses... but it sure sounds like other possibilities are ripe for the picking.

[richard10365]

<{POST_SNAPBACK}>

Just curious, were you monitored at all for your radiation exposure? If so, do you recall your lifetime exposure numbers for ionizing radiation, Richard? What was the nature of your exposure? Weapons, I imagine? I've had both weapons and power plants as well as a third, shooting X-rays... all monitored by badges, although actually it's really a rather insignificant amount.

If your VA rating comes back... and it's over 50% or over, they'll pay for any medical problems, not only your rated ones, while overseas on a payback basis.

<{POST_SNAPBACK}>

I worked on US Army, Tactical Nuclear Weapons. There were 2 types (Plutonium bearing) that I worked on that had the "1 Meter Rule" associated with it. This meant you stayed no closer to the weapon than 1 meter unless you were working on it.

There were times when you had to lay across 3 at the same time in order to do things like check seals, storage, serial numbers, or whatever else you had to do. Film badges were never worn for that. The answer they gave us was the dose was too low.

However, now that I am older, I have aquired hypothyroidism and pernicious anemia. I suspect, since no one in my family has never had either, that working on nuclear weapson might have something to do with it.

It was quiet difficult to finish 20 years in the army and still meet the fitness requirements. In the end, I couldn't pass the physical fitness requirements. I was so close to retirement and working in a critical position so they didn't give me any flack.

I also worked on the Patriot Missile System. It has a pretty big radar too. I'm not sure how that might effect things.

I have kinda lost my faith in the system helping. I just feel lucky I have my retirement.

These medical problems I have aquired over the last few years is another reason I came to Thailand. If the trend continues I want to enjoy, at least a little bit, the rest of my life.

And keeping faith with the topic of this discussion,.....thats why I am interested in International Military Direct Deposit.

[Storekeeper]

Hey Richard,

Do you think there will ever be much need for the IDD in Thailand ? I'm thinking that unlike the Philipinnes where there is a steady stream of military retirees moving there...Thailand doesn't have the same foundation of need. Out of those 500 retirees in Thailand how many are Vietnam era dudes or older ? The same thing will happen eventually in the PI since we no longer have a major military presence in the PI and we no longer enlist Filipinos into the Navy. Heck there are RAO offices all over the place in the PI and but the one in Thailand. And who's gonna run the office at JUSMAG when the old dude "John" is no longer with us? It's an unpaid volunteer position and has to be a retiree. So what do you think?

[richard10365]

Hey Richard,

      Do you think there will ever be much need for the IDD in Thailand ? I'm thinking that unlike the Philipinnes where there is a steady stream of military retirees moving there...Thailand doesn't have the same foundation of need. Out of those 500 retirees in Thailand how many are Vietnam era dudes or older ? The same thing will happen eventually in the PI since we no longer have a major military presence in the PI and we no longer enlist Filipinos into the Navy. Heck there are RAO offices all over the place in the PI and but the one in Thailand. And who's gonna run the office at JUSMAG when the old dude "John" is no longer with us? It's an unpaid volunteer position and has to be a retiree. So what do you think?

<{POST_SNAPBACK}>

IDD in Thailand, I think we could use it. I am not sure how many people want it. I would use it if they had it here. The potential investment is huge for Thailand. At my rank, E7, over 300,000,000 baht in deposits each year. I don't know why Thailand hasen't looked into this. Perhaps I will bring this info to Bangkok Bank's main office in Bangkok and see what they say.

For the single service man, Thailand is a great place to retire. Thailand should advertise this to the U.S. military.

As far as a large presence, I don't think Thailand has had a large military presence since the end of the Vietnam war. I think there will be more and more retired military moving to Thailand as time goes on.

I have no idea how many Vietnam era guys are out there. I'm sure there are a few. There are a few VFWs in Thailand and they might have some info on that.

About the RSO office in Bangkok should it become vacant, if they were to offer the job as a GS job.....I am sure they could get a lot of people applying for the job. I would even think about it. Maybe we could make a duty roster and rotate the duty to some of the retiriees here in Thailand.

[Kringle]

I need to go to the JUSMAG office to see what I can do to get some help with my disability rating. I'm rated at 30% service connected now but get 100% due to unemployability (have been on this for over 5 years now). Been told I can get some things done through the Phillipine office but need to get more info. Any help is great.

Thanks,

Kringle

[richard10365]

Hey Kringle,

Email Nurse Pranee at JUSMAG and see if she can get you pointed in the right direction. She is helping me with my DEERs enrollment and claims for the hospital with Tricare. Here is her info.

NursePranee

E-mail: [email protected]

Telephone: 02-287-1036 Ext 511

FAX: 02-287-1575

[Storekeeper]

Richard,

What about regualr DDS ? Is there any fee for direct deposit to Bangkok Bank if I went that route ?

Making the RAO job into a GS job is wishful thinking on our part. From what I've hear the US Embassy could care less about military retirees in Thailand. I'm told they don't even let retirees shop in their little BX/PX...is that true ?

We'll have to agree to disagree on the future seeing military retirees heading to Thailand...I don't see it.

SK

[richard10365]

Richard,

     What about regualr DDS ? Is there any fee for direct deposit to Bangkok Bank if I went that route ?

      Making the RAO job into a GS job is wishful thinking on our part. From what I've hear the US Embassy could care less about military retirees in Thailand. I'm told they don't even let retirees shop in their little BX/PX...is that true ?

       We'll have to agree to disagree on the future seeing military retirees heading to Thailand...I don't see it.

SK

<{POST_SNAPBACK}>

Not sure of the fee...I am pretty sure they have Direct Deposit.

I wouldnt say the Embassy cares any less about us but they don't give us anymore special treatment than other Americans.

I am not sure I would want to buy anything from a BX/PX because the prices are probably stateside prices. The only thing I would look for is Dr. Pepper. JUSMAGTHAI is the only place I can find Dr. Pepper.

I think the only reason other military retiries don't come to Thailand is because they don't know about it. I bet if Thailand gave me enough money, I could advertise in the Army times and attract all sorts of GIs to the land of smiles.

Edited October 24, 2005 by richard10365

[Storekeeper]

Hey Richard,

So what exactly is the difference between IDD & regular DDS ? The RAO office at JUSMAG has forms to open up an account with Bangkok Bank to deposit checks by DDS. My understanding is that the money is deposited into the account in the bank at Bangkok Bank's New York branch and then sent to your account in Thailand. I may be mistaken but I also thought it was explained that the problem is there is no ATM card issued for the account and you have to make your withdrawals in person. Have you heard this before ?

[sriracha john]

Hey Richard,

      So what exactly is the difference between IDD & regular DDS ? The RAO office at JUSMAG has forms to open up an account with Bangkok Bank to deposit checks by DDS. My understanding is that the money is deposited into the account in the bank at Bangkok Bank's New York branch and then sent to your account in Thailand. I may be mistaken but I also thought it was explained that the problem is there is no ATM card issued for the account and you have to make your withdrawals in person. Have you heard this before ?

<{POST_SNAPBACK}>

If that's true about no ATM card, I would see that as a major deterrent not to use it. Teller lines here are often lengthy ones and the hours they are open are often inconvient. What are the fees (assuming they won't make these transfers between BBank USA and BBank Thai for free, even though they are the same bank)?

I'd like to use the system IF they have low transfer fees AND ATM access.

[richard10365]

John,....I have an ATM card from Bangkok Bank. I opened a savings account at the main office in Bangkok and asked for it. They do charge a fee for it. Perhaps where the misunderstand lies in that it is not free. I think it was around 300 baht. I make withdrawls all over Thailand.

SK,

I think IDD and DDS are the same monster. I think IDD is the military term for direct deposit made outside the United States into foreign banks.

I am almost certian I can go to the DFAS MyPay website and set it up from home. I am kinda scared about doing it that way because if I make a mistake or it dosent work, who knows where my paycheck will end up.

When I get brave enough I will try it and let you know how it goes.

If that works, I am thinking I can have my income tax refyund checks sent there the same way (via the NY Bangkok Bank branch).

[Kringle]

Hey Kringle,

Email Nurse Pranee at JUSMAG and see if she can get you pointed in the right direction. She is helping me with my DEERs enrollment and claims for the hospital with Tricare. Here is her info.

NursePranee

E-mail:  [email protected]

Telephone: 02-287-1036 Ext 511

FAX:  02-287-1575

Richard, Thanks for the info and I owe you a box of grits whenever you get into town and just let me know and we can meet for a few beers also.

Cheers,

Kringle

[lopburi3]

Hey Richard,

      So what exactly is the difference between IDD & regular DDS ? The RAO office at JUSMAG has forms to open up an account with Bangkok Bank to deposit checks by DDS. My understanding is that the money is deposited into the account in the bank at Bangkok Bank's New York branch and then sent to your account in Thailand. I may be mistaken but I also thought it was explained that the problem is there is no ATM card issued for the account and you have to make your withdrawals in person. Have you heard this before ?

<{POST_SNAPBACK}>

DD is direct deposit as outlined in the FAQ page of the US Embassy, Bangkok web site and instructions are specific that you must set up a direct deposit account at Bangkok Bank so my guess would be that it is a USD account and thus there would be no ATM access. You would have to visit bank and convert to local currency would probably be the system - and as said the lines at BBL are almost always long. If used I would withdraw large sums and place in a baht savings account with ATM access.

I still feel it is better for most people to maintain accounts in USA bank and transfer large sums as required by SWIFT. I called my US bank at 2200 last night and the transfer is converted/credited to my account here when I checked at noon today. As long as you keep the amounts large the fees are not that high percentage wise.

[sriracha john]

I'm inclined to leave my money as is with DDS going into an American bank and simply using their ATM card here withdrawing baht. Only thing I really want to do now is change American banks as the one I've been with for 6 years just recently bumped their ATM fees for me to use from a very reasonable 120 baht to 1000 baht per transaction withdrawal.

Looking at switching to a money market account with an American bank which allows ATM withdrawals. Does anyone have such or even a regular checking account and can relate what fees their ATM withdrawals cost?

[lopburi3]

I'm inclined to leave my money as is with DDS going into an American bank and simply using their ATM card here withdrawing baht. Only thing I really want to do now is change American banks as the one I've been with for 6 years just recently bumped their ATM fees for me to use from a very reasonable 120 baht to 1000 baht per transaction withdrawal.

Looking at switching to a money market account with an American bank which allows ATM withdrawals. Does anyone have such or even a regular checking account and can relate what fees their ATM withdrawals cost?

<{POST_SNAPBACK}>

$25 fee for atm use? Why not use wire transfer SWIFT and transfer into an account here? You get a better exchange rate and with one transfer costing about $50 you can get 300-400k baht and have fee free atm access.

[sriracha john]

I might have to consider that. Just that for now I wanted to keep the money in the USA and up until now, the $3 charge per 20,000 baht withdrawal was completely tolerable and worked very well in my situation. If I'm not able to find another bank in the USA that charges similar, I'll go the other way with Swift. Thanks for the info.

I agree that $25 to take out $500 is ridiculous... on top of that they bumped the annual charge for the account to $210 (8610 baht)...

but then again... somebody's got to pay for the big Chase buildings.... just won't be me anymore...

Edited October 27, 2005 by sriracha john

[buadhai]

I've posted this information before, but perhaps it's worth repeating:

I have my US Federal pension deposited to a Bank of Internet checking account. The account earns about 3% interest. Checks are free. Bill pay is free. ATM withdrawals from any ATM are free. They will reimburse you up to US$8.00 per month for ATM fees charged by other banks. Foreign exchange rates are excellent. I got 40.91 baht to the dollar on a withdrawal made on 24 October 2005. They issue a Visa branded ATM/debit card which, of course, can be used for ATM withdrawals, POS purchases and on-line purchases.

This bank is on-line only, but it is FDIC insured and they respond to e-mail within hours.

I've been banking with them for about 18 months now and my only complaints are:

- No international wire transfers

- Purchase limit of US$500 per transaction

============

Regarding International Direct Deposit (IDD): This process is controlled by the US Treasury, not by individual agencies making payments. If you get a US Federal payment you can use IDD. My understanding is that if you use non-international direct deposit to Bangkok Bank's New York Branch you have to open a special direct deposit account here in Thailand. No ATM card is allowed on these accounts because of fraud. Too easy for a foreign resident to have an unreported death while ATM withdrawals continue.

[lopburi3]

My understanding is that if you use non-international direct deposit to Bangkok Bank's New York Branch you have to open a special direct deposit account here in Thailand. No ATM card is allowed on these accounts because of fraud. Too easy for a foreign resident to have an unreported death while ATM withdrawals continue.

That sounds very likely to be the real reason for no ATM access. But a pain for many older folks if there bank has not converted to queue number system.

[buadhai]

My understanding is that if you use non-international direct deposit to Bangkok Bank's New York Branch you have to open a special direct deposit account here in Thailand. No ATM card is allowed on these accounts because of fraud. Too easy for a foreign resident to have an unreported death while ATM withdrawals continue.

That sounds very likely to be the real reason for no ATM access. But a pain for many older folks if there bank has not converted to queue number system.

<{POST_SNAPBACK}>

When I was still working for US Social Security I checked on the policy of banks in the Philippines. Same thing: no ATM card, no joint owners for US Treasury direct deposit accounts.

[richard10365]

Hey Kringle,

Email Nurse Pranee at JUSMAG and see if she can get you pointed in the right direction. She is helping me with my DEERs enrollment and claims for the hospital with Tricare. Here is her info.

NursePranee

E-mail:   [email protected]

Telephone: 02-287-1036 Ext 511

FAX:  02-287-1575

<{POST_SNAPBACK}>

Richard, Thanks for the info and I owe you a box of grits whenever you get into town and just let me know and we can meet for a few beers also.

Cheers,

Kringle

<{POST_SNAPBACK}>

I've posted this information before, but perhaps it's worth repeating:

I have my US Federal pension deposited to a Bank of Internet checking account. The account earns about 3% interest. Checks are free. Bill pay is free. ATM withdrawals from any ATM are free. They will reimburse you up to US$8.00 per month for ATM fees charged by other banks. Foreign exchange rates are excellent. I got 40.91 baht to the dollar on a withdrawal made on 24 October 2005. They issue a Visa branded ATM/debit card which, of course, can be used for ATM withdrawals, POS purchases and on-line purchases.

This bank is on-line only, but it is FDIC insured and they respond to e-mail within hours.

I've been banking with them for about 18 months now and my only complaints are:

- No international wire transfers

- Purchase limit of US$500 per transaction

============

Regarding International Direct Deposit (IDD): This process is controlled by the US Treasury, not by individual agencies making payments. If you get a US Federal payment you can use IDD. My understanding is that if you use non-international direct deposit to Bangkok Bank's New York Branch you have to open a special direct deposit account here in Thailand. No ATM card is allowed on these accounts because of fraud. Too easy for a foreign resident to have an unreported death while ATM withdrawals continue.

<{POST_SNAPBACK}>

I'm not sure I'm following you guys correctly. Are you saying if you get DD then Bangkok Bank does not give you an ATM card?

From what I read on the Bangkok Bank website, it appears you can have more than one type of account. Why not have an account for the transfer and one for the ATM card? They have Bualuang iBanking for people with a non-immagrit visa. You can transfer your funds via the internet to your account with the ATM card.

When I transfer $1000 a month from BOA to Bangkok Bank, the account I opened up did give me an ATM card.

For Bank of the Internet, you have to have a US address to open an account. I don't have one. When I emailed them they told me I would not be able to open an account with a Thai address even though I was an American.

The same applies for Bank of America. The only reason I have an account now is because I had it before I came to Thailand.

Kringle...I just got 3 pounds of grits delivered from Los Angeles. Let me know if you need any.

[lopburi3]

My understanding is you would not have ATM access from that account (special for this DD service) and would not be able to access in any way other than by bank withdrawal slip (showing you are alive and kicking). You could then withdraw and deposit into another account with ATM access. But it would always require a withdrawal slip in person.

[richard10365]

I emailed Bangkok Bank and asked about what you guys were saying about the direct deposit. They said:

We are glad to be of help to you in connection with your inquiryabout Direct Deposit Account.You can set up a new saving account at any branch near you, as"Direct Deposit Account". This account to be used exclusively for the purpose of receiving fund transfer from a US Government Agency through the Direct System. We are sorry that "Direct Deposit Account" is not applicable for ATM, internet Banking, automatic periodic payment such as those for utility bills or other debts. You must appear in person to make withdrawals only at the branch where the Account has been opened; no appointee or representative will be allowed.In addition, the Direct Deposit (U.S. Federal Payments) Service information is gathered and provided to you with pleasure.The "Direct Deposit Sign-Up Form (1199A)" and "Direct Deposit ServiceApplication" are applicable at our Silom Head Office Branch. These documents, however, will be sent to the branch of your choice. Your Application will be subject to the approval of the US Government Agency.The procedure will approximately take 60 to 90 days. Prior to the approval,you still have received United Treasury Checks as usual.The fees will be deduct from the funds transferred prior to depositing in the Account:- Bangkok Bank New York Processing Fees USD 5.- - International Fund transfer Fee 0.25% (Min 200 Baht -Max 500 Baht).Should you require any further assistance, please do not hesitate to contact us. You can also contact our phone banking center at +66-2645-5555 (from the overseas) or 1333 (from within Thailand), a 24/7 service to acquire more information. Thank you.Sincerely,Web operations

I guess I won't be getting direct deposit with Bangkok Bank. However, I wonder if no ATM is because of Thai laws or internal Bangkok Bank rules?

[lopburi3]

I believe buadhai post means it is a US requirement for direct deposit and has nothing to do with Thai or Bangkok Bank desires. It is to prevent the payment of US Government funds to those who are not among the living.

In effect this system saves the US bank foreign wire transfer fee only (and the bother of calling or whatever to make a transfer). I will pay the .005% that it costs me for my normal SWIFT transfer rather than have to visit bank every month.

Thanks for sharing the report.

[coconut]

Just came onto this post #56 from Lopburi3. Questions.

What difference would it make to a US Government DD or IDD, if it is deposited to a US or Thai Bank?

I have had a government pension DD to a US bank which is redeposited to a Thai bank monthly for many years.

There is no yearly "Report of Existence" required from either the US government or US bank.

I would think my GF or wife could safely use these funds for many years after my death. Naturally with a little help from the local influencial folks, so that my death is not reported to the embassy.

These funds are being deposited to a Thai Joint Savings Account, with an ATM card.

Based on this experience, do not understand why Bangkok Bank will not issue an ATM card on a DD or IDD.

As a matter of curiosity, does the Social Security go to the NY branch or directly to the Bangkok Bank in Bangkok?

[lopburi3]

A death in the US will be immediately known to the Government and they will require pay back for any money sent to a US bank after the death. If someone is overseas the death report may not take place and even if it does the foreign bank would not likely be keen on refunding money already in account. So Bangkok Bank provides the requirement for access to this type of transfer to be in person by the person being paid and in turn is allowed direct deposit.

[Khun ?]

what is the benefit of having the money in a thai bank when you can use a debit card from a U.S. bank that is about to pay 4% interest.

Foreigner accounts in Thai bank is paying what .5 to 1%.

With a debit card you can walk into any bank in Thailand and draw out as much as you like and deposit it in your local account.

I have a preferred account so it may be a bit different for me but my exchange rate is .2 baht less than bank to bank rate on ATM and I don't pay for wire transfers anymore.

What happens when things go like Canada and cut your SS payments for people living overseas. This may not happen but better safe than sorry. Easy to track down your money in a U.S. bank than a Thai bank.

You know your U.S. account will be good worldwide can you say that for your Thai account. Why make what could be problems in the future for no benefit. Thai banks will charge you to send money to other same bank branches.

Webster University which is a U.S. university out of St Louis is in Hua Hin. Many foreign students go there as it is much cheaper to get an accredited U.S. degree than going to the U.S.

[richard10365]

what is the benefit of having the money in a thai bank when you can use a debit card from a U.S. bank that is about to pay 4% interest.

Foreigner accounts in Thai bank is paying what .5 to 1%.

With a debit card you can walk into any bank in Thailand and draw out as much as you like and deposit it in your local account.

I have a preferred account so it may be a bit different for me but my exchange rate is .2 baht less than bank to bank rate on ATM and I don't pay for wire transfers anymore.

What happens when things go like Canada and cut your SS payments for people living overseas. This may not happen but better safe than sorry. Easy to track down your money in a U.S. bank than a Thai bank.

You know your U.S. account will be good worldwide can you say that for your Thai account. Why make what could be problems in the future for no benefit. Thai banks will charge you to send money to other same bank branches.

Webster University which is a U.S. university out of St Louis is in Hua Hin. Many foreign students go there as it is much cheaper to get an accredited U.S. degree than going to the U.S.

<{POST_SNAPBACK}>

My Thai account has a visa debit card thats good world wide. Also, in Thailand, My BOA debit card from the USA charges about $7 to $10 (410 baht) per withdrawl.

With international direct deposit, the money goes to a Thai bank on Payday with only a $5 conversion fee for the entire paycheck. After that, withdrawls in Thailand are only 20 baht at ATMs that are not associated with your Thai bank.

As far as the "What Happens If...." .....What happens if a giant asteroid slams into the Earth and destroys all life as we know it?

If it happes, I'll deal with it then.

Edited November 28, 2005 by richard10365