Problem With Using Bangkok Bank For Incoming Transfers In Usd.

[jcnbkk]

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

+1. It's called an ACH transfer. Using BB NY routing # and your BB acc# here it's dealt with as a US bank to bank transfer. When I do online transfers from Wells Fargo to BB the charge is $3 instead of $40 for a wire transfer. There's info buried on the BB website on how to set it up, I don't remember where, but I learned about it from a post on TV (or maybe pattaya addicts) so you can do a search of forums on ACH transfers from US bank to BB or something similar. Or maybe another reader knows the link. Now you've got me curious though, I've never checked the stated rate against the rate used, not even sure what it is, just know it's been going down bad lately.

Found the link: http://www.bangkokba...s from USA.aspx

[55Jay]

Thanks for all your replies. Most helpful.

I am using Maybank in Malaysia to send USD, I was buying baht here and sending it but the exchange rate is hideous. USD looked the better option but with these charges its hard to take. Malaysia won't transfer Ringgit out of Malaysia, this is the problem.

On the form, I tick local charges paid by me and local charges in Thai by beneficiary.

Will try to get the BB staff to actually do something today and look into what actually came into the bank (currency and amount), but they are really unhelpful and have a dont car less attiude. I think its worth changing banks just because of the attitude.

The bank sending fee is about 20 Ringgit when done at the counter, but when done on line there isn't one. This maybe the problem, will find out (hopefully) what was actually received in Thailand today.

Thanks again.

As someone mentioned earlier, ATM, I guess you don't have an ATM card for your Malay account that'll work in Thailand? Seems a lot of hassle for 350 USD.

[brfsa2]

I concur with all comments re Bangkok Bank service and attitude to customers. I had an account at BKK bank for about 20 years but about three years ago I had ongoing problems with money transfer coming in very very late, also with connecting two bank accounts on the internet etc. etc. So in short I switched to Kasikorn.........excellent service for customers, if you go in the bank a service rep. will ask you if they can help give you a queue number and fill in the forms for you if you want.

Anyway to me BKK bank is like a dinosaur that should be extinct

Yes Kasikorn is the best you can get. The service is excellent, paypal transfers works great, I've got a "Web" visa, they call it K-Shopping card. to use as online Visa card. I used it to buy Airasia tickets.

The E-banking of Kasikorn is not that bad, it looks bad and old style, but quite functional, you can do almost everything there.

One time i lost my ATM, I went to a Kasikorn bank, not even my branch, and i got a new card in 10 minutes with a 150baht fee!!! Amazing!!

I had account at Ayudhaya before and they sux... I hate them.. I had to go 'only' to my branch to get an ATM and it took 2 weeks until it was ready and I could go back there and get it..

[wiesner]

if create an account with xe.com you can transfer usd from your usa bank. they convert it to baht before transfering. you know exactly how much will be deposited.

[thaikahuna]

I have a standing monthly transfer form the US to BKK Bank. My BKK Bank account is tied to my US account as an external account and by doing so avoid origination fees. IT goes through the BKK Bank clearing house in New York and on to Thailand all in about 36-48 hours. As one other posted the middle bank (the clearing house) takes a pieces as does my local bank branch here. My regular transfer of $1500 USD incurs me a fee around $17-$18 USD.

The I don't give a shit attitude comes from their inability to be able to think on their own without someone approving the action.

[tragickingdom]

Bangkok Bank is not always the best. It is considerably slower than for instance the Kasikorn Bank and the rates often differ indeed. Even though the TT rates are the same their costs are not. Beware that a person sending money can opt for either " Our Cost" "Cost Receiver" or "Shared Cost". More worrisome is however that sometimes amounts seem to disappear, wen you walk into the Bangkok bank at Silom road second floor, they often seem to "find" the transaction if you appear in person. Just go for the Kasikorn if you have a choice.

[BobTH]

I posted this in a previous similar topic and thought it might be helpful here again and wanted to share.

I used wire transfers at the beginning then I read on this forum(I love this forum)about a PayPal method of sending money much cheaper. I have my pension checks directly deposited into my USA bank and I have a PayPal account associated with that bank in the USA. When I moved to Bangkok I opened another PayPal account here, you just have to get another email account and I associated it with my Bangkok Bank account. For instance the USA email is a gmail account and the Thai one is a Yahoo account. I then make the payments from Me in the USA to Me in Thailand, slick as hell. The trick to saving all the money is to request only and always an E Check and not a money transfer. It takes a little longer (a few days to clear in the USA and a few to transfer from PayPal to my Thai Bank) but I can send any amount for $5 US compared to like $80 for a wire transfer. The money goes into my Thai PayPal account and I simply have it transfered into my Bangkok bank for free. This is really slick and a big money saver for me. I send larger sums just once in a while and not each pension check. I would however request a $5 USA donation to me for anyone that uses and benifits from this email and it can be paid in beers on sukhumvit soi2 through soi30 here is wonderful Bangkok. Life is good and retirement is better.

[Pib]

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

+1. It's called an ACH transfer. Using BB NY routing # and your BB acc# here it's dealt with as a US bank to bank transfer. When I do online transfers from Wells Fargo to BB the charge is $3 instead of $40 for a wire transfer. There's info buried on the BB website on how to set it up, I don't remember where, but I learned about it from a post on TV (or maybe pattaya addicts) so you can do a search of forums on ACH transfers from US bank to BB or something similar. Or maybe another reader knows the link. Now you've got me curious though, I've never checked the stated rate against the rate used, not even sure what it is, just know it's been going down bad lately.

If using the Bangkok Bank New York routing number there is a fee as it flows through the NY branch to your local/in-Thailand Bangkok Bank Branch. You must have an in-Thailand Bangkok Bank account to use the NY branch routing number; the NY branch don't have common person retail customers as it's more a commercial bank...you don't open an account with the NY branch...you are only using their ACH routing number.

See this Link for info on using Bangkok Bank to transfer funds to Thailand and then click the sublink titled "Fees" for the NY branch fee...it varies by amount being transferred. Now the fees shown at above link is the New York branch fees only; when the funds arrive you local/in-Thailand Bangkok Bank another fee called currency receipt/conversion fee of 0.25% (200 baht min, 500 baht max) is applied. The bank uses the TT Buying Rate for the exchange rate. Then the remaining funds are posted to your Bangkok Bank account.

Example of above fees: say you transfer $2000...as the funds flow thru the NY branch $5 is sliced off (remember, the exact fee amount varies by amount transferred but I expect for most transfers it either $5 or $10)....so, $1995 arrive your local Bangkok Bank branch...the $1995 is converted to baht using the Bangkok Bank TT Buying Rate...lets say for easy math the rate is 30 baht/USD...so, 1995 times 30 is Bt59,850...the local branch then subtracts the above mentioned 0.25% fee which works out to the 200 baht minimum which means Bt59,650 is posted to your account. Excluding any home country bank sending fees, that works out to $11.67 in transfer fees. If your U.S. bank is not to fee-hungry the ACH transfer fee should be zero to around $3.

Now if transferring via SWIFT vs ACH the NY branch routing number is not used...funds flow are primarily determined by your home country bank and no doubt the SWIFT fee will most likely be in the $20-$50 ballpark. Sending via SWIFT is generally pricey; sending via ACH is generally low cost however there are some really evil U.S. banks/credit unions that even charge a very healthy price for an ACH transfer...these banks are just robbing you with their transfer fee.

I use to use Bangkok Bank for ACH transfers all the time....never a problem. But everyone needs to keep in mind that it does take X-business days for the transfer to complete. How fast those X-business days is going to depend how fast your Sending bank really transmits the money (some seem to hang onto it another few days before actually transmitting) and weekends and holidays in your home country and Thailand can delay the transfer flow. Hit the weekends and holidays wrong and it could take a week to get your money; but normally it only take 1-3 business days.

I said I "use" to use Bangkok Bank ACH transfer...well, I still have transfer links setup to use Bangkok Bank for those occasional BIG money transfers or maybe an emergency transfer, but once I got a couple of home country/U.S. bank "no foreign transaction fee" debit cards good for up to $1000 daily withdrawals I just use these cards for my day to day living expenses in Thailand. Absolutely no transfer charges plus I use AEON ATMs to avoid the 150 baht foreign card fee, I get the Visa exchange rate which equals plus or minus a few stang (usually plus) the Thai bank TT Buying Rate, and I have the money immediately in hand...just as soon as it slides out of the ATM money slot. Sometimes I will take about 20 steps to the local Bangkok Bank branch in my Lotus mall where the AEON ATM is also and deposit some of the money into my Bangkok Bank account via their Cash Deposit Machine so I have my Bangkok Bank account charged-up enough to use their debit card occasionally and use their online banking to pay utility and other bills.

Yeap, never had a problem with Bangkok Bank funds transfers using the method in above link...to include REALLY BIG money transfers when I was buying my Bangkok home.

[Pib]

I posted this in a previous similar topic and thought it might be helpful here again and wanted to share.

I used wire transfers at the beginning then I read on this forum(I love this forum)about a PayPal method of sending money much cheaper. I have my pension checks directly deposited into my USA bank and I have a PayPal account associated with that bank in the USA. When I moved to Bangkok I opened another PayPal account here, you just have to get another email account and I associated it with my Bangkok Bank account. For instance the USA email is a gmail account and the Thai one is a Yahoo account. I then make the payments from Me in the USA to Me in Thailand, slick as hell. The trick to saving all the money is to request only and always an E Check and not a money transfer. It takes a little longer (a few days to clear in the USA and a few to transfer from PayPal to my Thai Bank) but I can send any amount for $5 US compared to like $80 for a wire transfer. The money goes into my Thai PayPal account and I simply have it transfered into my Bangkok bank for free. This is really slick and a big money saver for me. I send larger sums just once in a while and not each pension check. I would however request a $5 USA donation to me for anyone that uses and benifits from this email and it can be paid in beers on sukhumvit soi2 through soi30 here is wonderful Bangkok. Life is good and retirement is better.

Have you also considered the impact/cost of the PayPal exchange rate? PayPal does apply a 2.5% exchange rate fee when sending funds to another country. Apparently anytime USD are sent outside the U.S.....like to your Thai PayPal account...PayPal converts to baht automatically whether an echeck is being used or not since the echeck is really just a method of drawing funds from your bank vs funds already being in your PayPal account....once the echeck clears your home country bank then your U.S. PayPal sends it to your Thai PayPal account using the PayPal exchange rate. Or does it work differently that what I've described?

[richmax]

Like many of the commentators here, I have been driven to the point of complete frustration by the antics of Bangkok Bank. While some of the staff have appeared concerned and helpful at the time of our conversations, little or nothing was done to resolve the various problems with which I have confronted them. Regarding tranfers of currency from the USA, I have stopped using Bangkok Bank completely, receiving instead prompt and efficient service from Siam Commercial. In fact, my transfers - ordered by phone from my bank in California - usually reach my SCB account in about twelve hours.

[comserve]

Why do you do bank transfers for small amounts. I always transfer my money from my Australian bank account using a debit card at any Thai ATM.

Subject to the limits of the ATM I am charged 150Baht per transfer & the A$ is converted by my bank in AUS with a very good rate. (the AEON branches (Bankof Japan) do not even levy the 150 baht banking fee.

However I transferred A$10,000 once from an AUS bank using a friend who worked at the bank, to BKB. After 10 days & it had not arrived I went to my local branch to enquire & was told it takes 3 weeks to come. After that time, no results, so went to my local BKB branch manager & he referred me to the head office international branch. They were somewhat helpful & finally traced the transaction. It had taken 3 days to arrive but some turkey in the branch bounced it because it had the wrong account number (I gave the sending bank branch number 0408 which was correct with account number of whatever 1235678 which was correct except the account number was actually 40812345678) Whoever bounced it needed a brain transplant (the transaction did also have my name). The only info they gave me was it was XYZ from Bank of America in Bangkok and also the transaction id. I rang XYZ & he said that he transferred it back to BOA branch in America.

In the meantime I had had the AUS bank do a trace on the funds but they couldn't give a rats ass. I actually had to ring my AUS bank & told them where the money had been returned to & where it had been. They eventually found the funds sitting in the BOA branch in America and retrieved it. I then had to get the AUS bank to send the money again showing the branch # 0408 & the account numer 40812345678 & this time it came straight through in 3 days.

Conclusions: (a) be very accurate with your stated account number

( bank staff, whether it is Thai or overseas staff, will just not get off their butts to solve even the simplest of problems

In this case the BKB automated system obviously did not recognise the bank account number & the BKB bank staff did not even try to reconcile the broblem, just sent it bank from whence it came (probably arrived during their lunch time!) Also the BOA American branch were happy just to put the money in some escrow account & hope that nobody found it. The Australian bank BOQ really could not be bothered to do a proper trace of the transaction, so it was left to myself, using SKYPE, to do it myself!!!

So much for the universal banking system.

[BB1955]

I have been using Bangkok Bank now for almost three years . I transfer online from my bank in the USA cost me 3 dollars it goes to BAngkok bank of NY and is posted to my account as soon as they receive . Never been charged more than the max 500 baht limit and the exchange rate is always the TT amount . As for problems I have called them a few times when my USA bank messed up and they have always been very helpful . No complaints what so ever and the people at the branch in Hang Dong are the best !

[Bababooey]

Transfers for me from Fidelity to Bangkok Bank New York to my Thailand Bangkok Bank account costs 15 USD plus 500 baht. I get the TT rate.

It's pretty easy, one click on the Fidelity website.

Was a bit of a pain getting the initial setup between Fidelity and Bangkok Bank New York working though.

[CMBob]

Although not directly asked, when you're transferring funds via SWIFT from the US to Thailand, there's a specific box on the form to check if you want to send the funds in US dollars or Thai baht. Make sure it's always a transfer in US dollars (if you do it the other way, you'll get a terrible exchange rate in the US that often is as much as 7-8% less than you can get from the Thai banks) and then your local Thai bank will (should) give you the posted exchange rate the date the funds are received.

[davidstipek]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

Actually you do not have to set-up an Account in NY with BKK...

All that is needed is there routing Number and your account Number (At BKK Here)

Example: US Teasury deposits my SSI Automaticly at Midnight Or last working day of Bank if deposit date falls on Holiday or Sunday. I get a text to my Phone here within minutes of this Happening. If I am a Mall or close to Bank funds are here and show up ASAP (if update passbook... Deposit there shows here same time!)

All I needed was Bkk Address in New York, their Routing Number and My Account information here. Was all done through BKK here as they had forms to send to US Treasury. Actually I had to go to Main Branch BKK in Bangkok and it took less then 1/2 hr. They had Special Department set up just for this purpose.

Hope this Helps! ( If you know CS Person at any BKK They can get you to right Bank and have personell there waiting for your arrival )

[soihok]

Thanks for all your helpful comments.

I believe I have got to the root of it now by making some enquiries today, it goes like this:-

• Malay money exchanged to USD in Malaysia (due to the fact that Malaysia doesn't send its own currency to Thailand via TT and the exchange rate is awful to buy baht here in Malaysia).
• Local charges paid by remitter, charges in Thai paid by beneficiary.
• TT charge by bank here is then taken out of the total sum.
• Money goes from Maybank to an "agent" for remitance, who take a slice.
• USD arrive in BKK bank, is then changed to Thai Baht at a fee by BKK Bank.

All in all, the small charges taken by the banks and the "agent" account for the low amount received at the other end.

It seems that the only way around is to buy Baht here in Malaysia and accept the bad rate, or carry loads of cash inbetween visits there and change the notes in Thailand.

Not to worry......cheers

[4evermaat]

Thanks for all your helpful comments.

I believe I have got to the root of it now by making some enquiries today, it goes like this:-

• Malay money exchanged to USD in Malaysia (due to the fact that Malaysia doesn't send its own currency to Thailand via TT and the exchange rate is awful to buy baht here in Malaysia).
• Local charges paid by remitter, charges in Thai paid by beneficiary.
• TT charge by bank here is then taken out of the total sum.
• Money goes from Maybank to an "agent" for remitance, who take a slice.
• USD arrive in BKK bank, is then changed to Thai Baht at a fee by BKK Bank.

All in all, the small charges taken by the banks and the "agent" account for the low amount received at the other end.

It seems that the only way around is to buy Baht here in Malaysia and accept the bad rate, or carry loads of cash inbetween visits there and change the notes in Thailand.

Not to worry......cheers

Why not just pull the funds out of the ATM? Especially if you use CIMB or other bank with sufficient thailand branches. this will not affect you on the fees:)

Or use AEON.ATM?

Even if you do continue to use MayBank....seems like you would still get the TT rate and much less hassles. Investigate the int'l atm fees, if any.

[XINLOI]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

>

I've been using Bangkok Bank for a few years now. I transfer via bill pay from my bank in the USA using Bangkok Bank NY. Using their routing number in NY and my account number in Thailand it works, without any fees. Now Bangkok bank may not give you the same rate as For-ex but if you check their exchange rate it is spot on to what they are giving you. The transfer usually takes about 5 days. My bill pay service is free, the transfer is free as well. Just plan a week out and avoid unwanted fees.

Can you send me more info on using BKK bank in NY? I have stopped using BKK bank here because of the fees for receiving money transfer now using K-bank. But would like to know how to set up with the NY BKK branch.. any help thanks ..will be traveling to USA next week so I can check with them...THANKS

I use Bangkok Bank NY transfers with no prob. You need a Thailand account to use (you don't get a NY account). When doing a wire transfer or e-commerce payment (billpay) you use the 9 digit NY routing number and your Thailand account number. Costs me 10USD for over $2,000USD transfers plus the Thailand 2.5%. The have an internet site (Google) with all the rates and restrictions.

Bangkok bank is the ONLY Thai bank that has a branch office in the USA. I have used them for many years now and have had no problems. Acquire a Thai account at BKB, then WIRE TRANSFER your funds to that account in NY. It will cost you $20 and then the comission fees, I like to call it and in roughly 2 days your funds are available for use. There are several other options that you can use too but they are expensive and not worth the hassle such as internet banking, which requires a whole new set of paperwork and it is $55 a pop, per transaction, to transfer money. Do not make small transfers either because they are done just like the cash conversion. You get a better rate for a $100 bill and you get a better rate for a higher transfer.

[Nowhereman60]

I have transferred $3,000 to $3.500 each month for the last 5 years without one problem. I call in my request to transfer the money about 8 pm Thailand time and my money is ALWAYS in my account by 9 am the next morning Thailand time. Is it me or is others not doing it right.

[BobTH]

I posted this in a previous similar topic and thought it might be helpful here again and wanted to share.

I used wire transfers at the beginning then I read on this forum(I love this forum)about a PayPal method of sending money much cheaper. I have my pension checks directly deposited into my USA bank and I have a PayPal account associated with that bank in the USA. When I moved to Bangkok I opened another PayPal account here, you just have to get another email account and I associated it with my Bangkok Bank account. For instance the USA email is a gmail account and the Thai one is a Yahoo account. I then make the payments from Me in the USA to Me in Thailand, slick as hell. The trick to saving all the money is to request only and always an E Check and not a money transfer. It takes a little longer (a few days to clear in the USA and a few to transfer from PayPal to my Thai Bank) but I can send any amount for $5 US compared to like $80 for a wire transfer. The money goes into my Thai PayPal account and I simply have it transfered into my Bangkok bank for free. This is really slick and a big money saver for me. I send larger sums just once in a while and not each pension check. I would however request a $5 USA donation to me for anyone that uses and benifits from this email and it can be paid in beers on sukhumvit soi2 through soi30 here is wonderful Bangkok. Life is good and retirement is better.

Have you also considered the impact/cost of the PayPal exchange rate? PayPal does apply a 2.5% exchange rate fee when sending funds to another country. Apparently anytime USD are sent outside the U.S.....like to your Thai PayPal account...PayPal converts to baht automatically whether an echeck is being used or not since the echeck is really just a method of drawing funds from your bank vs funds already being in your PayPal account....once the echeck clears your home country bank then your U.S. PayPal sends it to your Thai PayPal account using the PayPal exchange rate. Or does it work differently that what I've described?

I looked at my paypal account, my SCB account and figured the USA vs. Thai Baht on the day of transfer and you know what, you are 100% correct. Now I feel like a dumbass, lol. But thanks for pointing this out. It looks like Bangkok Bank here I come, as a matter of fact I went there once to open an account but they wanted a letter from the US Embassy, so I went down the street to SCB and opened an account no problems. I was wondering if everyone else that uses the Bangkok Bank was required to get a letter from the embassy to open an account? Thanks again for making me feel like an idiot, lol.

[Pib]

Keep in mind that in order to use the low cost ACH transfer feature by using the Bangkok Bank New York routing number you need a Bangkok Bank account in Thailand. You can't use the Bangkok Bank NY branch routing number to send money to a local/in-Thailand SCB, K-Bank, etc., bank....it has to be a Bangkok Bank branch.

[BobTH]

Keep in mind that in order to use the low cost ACH transfer feature by using the Bangkok Bank New York routing number you need a Bangkok Bank account in Thailand. You can't use the Bangkok Bank NY branch routing number to send money to a local/in-Thailand SCB, K-Bank, etc., bank....it has to be a Bangkok Bank branch.

Got it, and thanks for all of your good info on the subject. Can you address my question from my previous post? It was "I was wondering if everyone else that uses the Bangkok Bank was required to get a letter from the embassy to open an account?" Thanks in advance if you can help.

[Pib]

I posted this in a previous similar topic and thought it might be helpful here again and wanted to share.

I used wire transfers at the beginning then I read on this forum(I love this forum)about a PayPal method of sending money much cheaper. I have my pension checks directly deposited into my USA bank and I have a PayPal account associated with that bank in the USA. When I moved to Bangkok I opened another PayPal account here, you just have to get another email account and I associated it with my Bangkok Bank account. For instance the USA email is a gmail account and the Thai one is a Yahoo account. I then make the payments from Me in the USA to Me in Thailand, slick as hell. The trick to saving all the money is to request only and always an E Check and not a money transfer. It takes a little longer (a few days to clear in the USA and a few to transfer from PayPal to my Thai Bank) but I can send any amount for $5 US compared to like $80 for a wire transfer. The money goes into my Thai PayPal account and I simply have it transfered into my Bangkok bank for free. This is really slick and a big money saver for me. I send larger sums just once in a while and not each pension check. I would however request a $5 USA donation to me for anyone that uses and benifits from this email and it can be paid in beers on sukhumvit soi2 through soi30 here is wonderful Bangkok. Life is good and retirement is better.

Have you also considered the impact/cost of the PayPal exchange rate? PayPal does apply a 2.5% exchange rate fee when sending funds to another country. Apparently anytime USD are sent outside the U.S.....like to your Thai PayPal account...PayPal converts to baht automatically whether an echeck is being used or not since the echeck is really just a method of drawing funds from your bank vs funds already being in your PayPal account....once the echeck clears your home country bank then your U.S. PayPal sends it to your Thai PayPal account using the PayPal exchange rate. Or does it work differently that what I've described?

I looked at my paypal account, my SCB account and figured the USA vs. Thai Baht on the day of transfer and you know what, you are 100% correct. Now I feel like a dumbass, lol. But thanks for pointing this out. It looks like Bangkok Bank here I come, as a matter of fact I went there once to open an account but they wanted a letter from the US Embassy, so I went down the street to SCB and opened an account no problems. I was wondering if everyone else that uses the Bangkok Bank was required to get a letter from the embassy to open an account? Thanks again for making me feel like an idiot, lol.

I'm glad the info was helpful. I've been awarded the dumbass award so many times over the years I have a trophy case full of them...and periodically I still win some more.

I see many posts on ThaiVisa regarding the transfer of funds or use of credit/debt card where the poster is stating a low or no fee was applied when I know they are not considering or not aware of other probable fees in disguise like a lower exchange rate in the 2-4% ballpark...and such a high percentage really adds up for big transfers and many small transfers. It almost like the bank is waving one hand which has a sign in it stating a low or no fee, however, but, while you are closely watching that hand waive the bank is doing a slight of hand by using their other hand to reach into your pocket with exchange rate related fees. And those exchange rate fees can be camouflaged good by confusing/vague transfer options, trying to convince the customer converting to baht before sending is a good thing--it is indeed good for the bank--, and other smoke and mirror methods.

And I just love it when banks say their exchange rate is based on a wholesale rate and very competitive--that usually a sure sign their exchange rate is worst than the average or at best average which means there are a lot of other banks with better exchange rates/lower fees. Cheers.

[billd766]

I have been transferring regularly US$ funds from my bank in the US to The Bangkok Bank in Chiang Mai for years and have never experienced any difficulties. The rate of exchange as well as the fees charged by them are always fair and adequate. However, you may know that in accordance with Federal regulations in the US, a US bank must use the services of a US entity to transfer funds overseas. For transfers to The bagkok bank in Thailand, US banks normally use Bangkok Bank in New York and that is where charges occur. Up to a certain limit, and irrespective of the amount transferred within this limit, they charge US$ 10, so that in your case the amount received in Thailand was only US$ 340. In addition the bank here add their normal usual fees, and together it is a considerable portion of as low an amount as US$ 350. However, having said that, I still consider Baht 800 to be exaggerated and if I were you I would ask IN WRITING for the full transfer calculation from the bank. They are obliged to do this.

My next door neighbour is als having a lot of problems with benefits from the US government through BKK bank in NY and BKK bank in Bangkok.

Do you know if is possible for the benefit to go to Kasikorn bank in NY, then to KBank bank in Thaiand?

Checked into that about a year ago and was told no. Not the same as BB.

Thanks for that. I will try the Agency in the US but it gets a bit expensive on hold.

[isawasnake]

I had a problem with bangkok bank too, on a big transfer. I went in and the lady just seemed to have the default position i was an a-hole.

[davidstipek]

Unfortunately I am unable to give you any details about opening an account with BKK bank in NY. As I originally said my bank in NY uses their services to transfer US funds to BKK bank in Thailand. Have a good trip to the US.

Actually you do not have to set-up an Account in NY with BKK...

All that is needed is there routing Number and your account Number (At BKK Here)

Example: US Teasury deposits my SSI Automaticly at Midnight Or last working day of Bank if deposit date falls on Holiday or Sunday. I get a text to my Phone here within minutes of this Happening. If I am a Mall or close to Bank funds are here and show up ASAP (if update passbook... Deposit there shows here same time!)

All I needed was Bkk Address in New York, their Routing Number and My Account information here. Was all done through BKK here as they had forms to send to US Treasury. Actually I had to go to Main Branch BKK in Bangkok and it took less then 1/2 hr. They had Special Department set up just for this purpose.

Hope this Helps! ( If you know CS Person at any BKK They can get you to right Bank and have personell there waiting for your arrival )

Also to do this cost me $2.00 in New York as deposit is automaticly converted to Baht when deposit from US Treasury is accepted, there is no waiting for funds. As I said when 0001 EST comes in Washington treasury sends electronic funds transfer to BKK in New York as soon as deposit is made... funds are available in Thailand, go figure the time... I could look at my Phone as each time I get Data Message, I have used the total yearly deposit notices to help with (print-out) Retirement obligations as far as Income... works here! 2 - 3 years no issues!

Remember Bkk account here is same account, same Bank as Bkk in New York, NO NEED TO TRAVEL USA to open BKK ACCOUNT! I have found BKK has Branches in most Foreign Countries. If you find like I stted before a CS Rep who speaksenough English to be comfortable discussing this with you, go for it.

The reason you had to go to US Embassy to get income Letter was because to fees are lower when dealing with these issues (Income) what also works instead of is the Income Letter that SSI sends every year stating total Income from them. Once account is open you can use it for whatever you want. Oh! Almost forgot this cannot be joint account as in Thai(wife)/ American(you), They will not issue Debit Card... To withdraw you must do in Person and present Passport each time. There is a 50 Baht withdrawl fee if done outside city of your Home Bank (example: Home Branch... Bangkok, withdrawl @ Branch at Airport Mall in Chiang Mai = fee 50 Baht) Really this is good as no one can access your Account without you being there in person! (Example: Mad Spouse, stolen wallet, Misplaced Debit Card, Lifted Account Informtion etc..)

I go into Bank withdraw for bills and deposit in Kasikornbank account, transfer what I want to our joint account at Bkk from My main Transfer account, so wife has her funds to do with as needed Etc. (there is no fee for this transfer) and yes we have Debit cards on this and other accounts.

Does this help better?

[davidstipek]

Keep in mind that in order to use the low cost ACH transfer feature by using the Bangkok Bank New York routing number you need a Bangkok Bank account in Thailand. You can't use the Bangkok Bank NY branch routing number to send money to a local/in-Thailand SCB, K-Bank, etc., bank....it has to be a Bangkok Bank branch.

actually... when BKK in New York accepts your deposit into YOUR ACCOUNT, there is no transfer fee or issue to transfer to any BKK in thailand... It is already here! Just go update your Bank Book any see for yourself! As I stated here the only fee I pay is the 2 USD one in New York! what they transfer is sent from them to my phone, I get a 2nd phone message stating what was received here... smart! same amount! The only other fee I have to pay is a withdrawl fee... if I am not in Bangkok, as this is where my account is home based. (Example: withdrawl in Chiang Mai + 50 Baht fee)

[Pib]

Keep in mind that in order to use the low cost ACH transfer feature by using the Bangkok Bank New York routing number you need a Bangkok Bank account in Thailand. You can't use the Bangkok Bank NY branch routing number to send money to a local/in-Thailand SCB, K-Bank, etc., bank....it has to be a Bangkok Bank branch.

Got it, and thanks for all of your good info on the subject. Can you address my question from my previous post? It was "I was wondering if everyone else that uses the Bangkok Bank was required to get a letter from the embassy to open an account?" Thanks in advance if you can help.

Been many posts about how a person tried to open an account with Bangkok Bank, K-Bank, SCB, whatever Thai bank, but were told they needed a letter from the embassy, a work permit, etc. Seems how farang friendly a bank is or how they interpret their new account rules for farangs depends greatly on the branch manager. If you don't have a long term visa/extension of stay or a Yellow Book the bank may want the embassy letter....guess it boils down to an added cost to get the foot in the door/get the account open since the embassy letters are usually not free.

I've opened several joint and my name only accounts with Bangkok Bank over the years...heck, I've got two Bangkok Bank joint accounts (need to close one), a deposit only account in my name only, and a fixed savings account in my name only...and these accounts are at three different Bangkok Bank branches. I was never asked for a embassy letter over the years....but I do show them my Yellow Book and point out my long stay retirement visa/extension of stay each time which is probably satisfying the bank's requirements/desires when opening a new account for a foreigner. .

[Pib]

Keep in mind that in order to use the low cost ACH transfer feature by using the Bangkok Bank New York routing number you need a Bangkok Bank account in Thailand. You can't use the Bangkok Bank NY branch routing number to send money to a local/in-Thailand SCB, K-Bank, etc., bank....it has to be a Bangkok Bank branch.

actually... when BKK in New York accepts your deposit into YOUR ACCOUNT, there is no transfer fee or issue to transfer to any BKK in thailand... It is already here! Just go update your Bank Book any see for yourself!

You will not see the Bangkok Bank NY fee in your passbook. As mentioned in my earlier post the fee is sliced off as your funds flow through the NY branch. So, if you transfer $2000 from your Sending bank as it flows through the NY branch $5 is sliced off and $1995 continues on to your in-Thailand branch where the other 0.25% (200 baht min, 500 baht max) fee is applied/slice off, and then the remaining funds are posted to your account. Neither of these fees will appear in your passbook.

[davidstipek]

I have been transferring regularly US$ funds from my bank in the US to The Bangkok Bank in Chiang Mai for years and have never experienced any difficulties. The rate of exchange as well as the fees charged by them are always fair and adequate. However, you may know that in accordance with Federal regulations in the US, a US bank must use the services of a US entity to transfer funds overseas. For transfers to The bagkok bank in Thailand, US banks normally use Bangkok Bank in New York and that is where charges occur. Up to a certain limit, and irrespective of the amount transferred within this limit, they charge US$ 10, so that in your case the amount received in Thailand was only US$ 340. In addition the bank here add their normal usual fees, and together it is a considerable portion of as low an amount as US$ 350. However, having said that, I still consider Baht 800 to be exaggerated and if I were you I would ask IN WRITING for the full transfer calculation from the bank. They are obliged to do this.

My next door neighbour is als having a lot of problems with benefits from the US government through BKK bank in NY and BKK bank in Bangkok.

Do you know if is possible for the benefit to go to Kasikorn bank in NY, then to KBank bank in Thaiand?

Checked into that about a year ago and was told no. Not the same as BB.

Thanks for that. I will try the Agency in the US but it gets a bit expensive on hold.

Go to BKK and find Manager... ask him t help you contact BKK's Office in Bangkok at Main Bank! They have a whole office Staffed to help you do this! As BKK is the only Authorized Bank in Thailand to Accept Goverment Income (Monthly) Deposits. They are set up to do this thru BKK in New York.

Now if you set this up on your own... that maybe your issue... They even helped me find out an issue when daughter got sick and missed her student loan payments (she actually after she went back to work thought she had gotten a raise.... hahaha!) when we found out what happened she made up the missed payments (over a Years worth!) and BKK got my income back from whoever had gotten it... can't argue with that level of help!!