Bangkok Bank Delays Foreigners Pension Deposits

[guidodaddio]

Once again, Bangkok Bank has delayed depositing Americans' Social Security pension payments in our accounts. According to a message I received today from the U.S. Social Security Administration, the U.S. Treasury deposited Americans' pension payments on Friday, December 2. Monthly pension payments are made on the 3rd of every month. However, when the 3rd falls on a weekend, as in this month, the U.S. Treasury deposits are made the preceding Friday. However, Bangkok Bank did not deposit the funds in our accounts on Friday, Dec 2. In the past, however, as in September (3 months ago) the 3rd also fell on a weekend, the U.S. Treasury deposited payments on the preceding Friday, and Bangkok Bank DID deposit the funds the same day. So, the explanation they frequently give American customers when the U.S. Treasury deposits payments on a Friday, but they do not deposit it in our accounts until the following Monday, is that it is because of the weekend, which of course is not a valid excuse. This time, Bangkok Bank told many American customers who asked why the money was not deposited on time, it was because of the King's birthday, which of course has absolutely nothing to do with their failure to make the deposits. Now because Monday is a holiday, Americans have to wait four extra days for their payments on Tuesday.

If Bangkok Bank is delaying pension deposits in customers account because of negligence, or in order to make additional profit on the interest for a few extra days, resulting in inconvenience to and for some, financial hardship on retired Americans in Thailand, then it's time for American customers to change banks. Unless Bangkok Bank has a plausible explanation why they sometimes can make deposits on the Fridays when the 3rd of the month falls on a weekend, and other times they do not, I recommend American customers protest by closing their pension accounts with them. If they cannot execute pension payments consistently on time, they should not be entitled to the money they make from the pension accounts of thousands of retired Americans in Thailand. I understand that because of Bangkok Bank's repeated failure in this matter, many Americans have already switched their pension accounts to HSBC, where they have not had the same problem.

[falangjim]

Oh boo hoo! You write a two paragraph post about a 4 day delay? Get a life.

[cougar52]

Why has this post been been posted again. I read this same one several days ago.

And an interesting fact is that the U.S. Government will not allow Direct Deposits of Social Security Checks into any Thai Bank except Bangkok Bank, so I have no idea where the poster received his info about HSBC and Direct Deposits from Social Security Pensions.

This from the U.S Embassy: In Thailand, only Bangkok Bank is able to accept direct deposits. You may contact the Bangkok Bank Main Office at 02-230-1323 or your local branch for more information on how to open a direct deposit account.

Edited December 15, 2011 by cougar52

[mccw]

4 days! Surely people should keep a little cushion aside each month or better still try to regularly save a bit consistently. Such eventualities as this should be expected when living abroad or travelling anywhere. Few less beers or burgers save a few hundred bht - maybe a move to cheaper area for even bigger savings. Take some responsibility for yourself is get u further than moaning

Edited December 15, 2011 by mccw

[manarak]

yawn...

[thaiphoon]

This topic is already running. Please do not create duplicate threads.

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