circusman Posted April 24, 2014 Share Posted April 24, 2014 I have opened a Bangkok Bank account here in Hang Dong. The question is, when I ask my local bank in Chicago to wire money to me, do I only use the routing number for Bangkok Bank in New York, along with my account number in Hang Dong? No need to tell N.Y. to send it on to Hang Dong. Correct or no? Link to comment Share on other sites More sharing options...
Mestizo Posted April 24, 2014 Share Posted April 24, 2014 Yes, this is correct. After a few days, it just shows up in your Chiang Mai account. -Mestizo Link to comment Share on other sites More sharing options...
KhunBENQ Posted April 24, 2014 Share Posted April 24, 2014 (edited) 1) SWIFT Code: BKKBTHBK 2) complete account number without spaces/dashes 3) account name. Thats it (plus currency USD and amount of course). Never sent THB! The first three digits of the account number specify the branch (Hang Dong in your case). From the website: Our SWIFT code is BKKBTHBK, the one and only code for every Bangkok Bank branch throughout Thailand. You should provide this to the overseas bank or person making the funds transfer via SWIFT to your account with Bangkok Bank in Thailand. Most overseas banks will need the following details:- Your Bangkok Bank account name and account number- The preferred currency and amount of money- Your bank name (Bangkok Bank)- Bangkok Bank SWIFT Code: BKKBTHBK Edited April 24, 2014 by KhunBENQ Link to comment Share on other sites More sharing options...
thepool Posted April 24, 2014 Share Posted April 24, 2014 Step by step instruction here http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 No sir. If I use swift my bank charges full fee $50.00 to send. If I just send to Bkk Bank in New York it is only $25.00. This has happened with the swift number to me only days ago. Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 Step by step instruction here http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx Yes thanks but I have read this page over and over. It doesn't say that the funds once in Bkk Bank New York go automatically to my Hang Dong account. But I guess it does. Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 Yes, this is correct. After a few days, it just shows up in your Chiang Mai account. -Mestizo thank you. Link to comment Share on other sites More sharing options...
hml367 Posted April 24, 2014 Share Posted April 24, 2014 (edited) SWIFT and wire transfer are very different. You would be best to adhere to post #4, and even better, visit your bank branch or the branch on Thapae Road and tell them what you want to do. Another way of getting the funds here is to use a credit or debit card. You can make a signature required withdrawal and have it deposited directly into your Bangkok Bank account. You have to make sure what the card issuing institution allows and what there fees may be. I can draw money on my Visa branded credit card with no fees and no currency conversion charge. Then I go online and transfer money from by checking account to my Visa account. There are a few financial institutions in the US which subscribe to the no foreign currency transaction fees. Edited April 24, 2014 by hml367 Link to comment Share on other sites More sharing options...
Jingthing Posted April 24, 2014 Share Posted April 24, 2014 It does. The OP is talking about doing an ACH DOMESTIC transfer, not a SWIFT transfer. Link to comment Share on other sites More sharing options...
Jingthing Posted April 24, 2014 Share Posted April 24, 2014 (edited) SWIFT and wire transfer are very different. You would be best to adhere to post #4, and even better, visit your bank branch or the branch on Thapae Road and tell them what you want to do. I wouldn't bother. Just follow the online instructions. When you get the test deposits to establish the link, then you need to CALL Bangkok Bank customer service to find the amounts in baht. Edited April 24, 2014 by Jingthing Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 SWIFT and wire transfer are very different. You would be best to adhere to post #4, and even better, visit your bank branch or the branch on Thapae Road and tell them what you want to do. I wouldn't bother. Just follow the online instructions. When you get the test deposits to establish the link, then you need to CALL Bangkok Bank customer service to find the amounts in baht. Now another term. What do you mean test deposits ? I know what they are but don't see how they apply in my case. If we just test a small amount it will cost me at least $25 to do it. Link to comment Share on other sites More sharing options...
Jingthing Posted April 24, 2014 Share Posted April 24, 2014 (edited) See the instruction page. You don't make the deposits. They are done automatically as part of the INITIAL process to begin the process of ESTABLISHING the link from your U.S. bank to Bangkok Bank New York for ACH transfers. This is FREE. Once the link is verified you can then start using the link all you like normally. Again this is something for BB customer service ONLINE, not something anyone in a BRANCH would even know about to help you. Edited April 24, 2014 by Jingthing Link to comment Share on other sites More sharing options...
thepool Posted April 24, 2014 Share Posted April 24, 2014 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> SWIFT and wire transfer are very different. You would be best to adhere to post #4, and even better, visit your bank branch or the branch on Thapae Road and tell them what you want to do. I wouldn't bother. Just follow the online instructions. When you get the test deposits to establish the link, then you need to CALL Bangkok Bank customer service to find the amounts in baht. Now another term. What do you mean test deposits ? I know what they are but don't see how they apply in my case. If we just test a small amount it will cost me at least $25 to do it. The whole process is described in detail here http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx Including the test deposit issue which is a once only process designed to protect you ! Link to comment Share on other sites More sharing options...
Thighlander Posted April 24, 2014 Share Posted April 24, 2014 (edited) When you link your US account to BKK Bank NY, they will do a few rest deposits in your account. It will be in thb, of course, and your US bank will want to know how much in USD was sent. It can be a little tricky. It will be like .03 USD or .10 USD...just convert carefully. Once your account is linked, just make the transfer. Your bkk bank account number is unique to the hang dong branch and you specifically. BKK Bank Thailand charges .25%, minimum 200 to a maximum of 500 thb....minimum is hit at 80,000 max at 200,000 thb, but you will be getting the TT rate, which right now is 32.20 compared to 31.95 if you walked in with clean 50s or 100s. .78% more.... All you need is routing number for BKK Bank of NY, and your account number...forget about SWIFT. The money is always converted to THB in Thailand, because that rate is always better...so don't worry about screwing yourself on that detail. Edited April 24, 2014 by Thighlander Link to comment Share on other sites More sharing options...
hml367 Posted April 24, 2014 Share Posted April 24, 2014 (edited) That is the reason I suggested going in to a branch. I know the branch on Thapae Road explains to people the process by and explains what "test deposits" and anything else is. Hang Dong branch may not have someone that can make all the explanations. Edited April 24, 2014 by hml367 Link to comment Share on other sites More sharing options...
Jingthing Posted April 24, 2014 Share Posted April 24, 2014 The process is started on the online site of the USA bank that you want to establish the link to BB with. You must first establish and verify the ACH link to BB NYC, and again, that starts with something the customer does on a USA bank website. Link to comment Share on other sites More sharing options...
hml367 Posted April 24, 2014 Share Posted April 24, 2014 Circusman, I sent you a PM Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 See the instruction page. You don't make the deposits. They are done automatically as part of the INITIAL process to begin the process of ESTABLISHING the link from your U.S. bank to Bangkok Bank New York for ACH transfers. This is FREE. Once the link is verified you can then start using the link all you like normally. Again this is something for BB customer service ONLINE, not something anyone in a BRANCH would even know about to help you. I got it. Thank you very much. Link to comment Share on other sites More sharing options...
hml367 Posted April 24, 2014 Share Posted April 24, 2014 See the instruction page. You don't make the deposits. They are done automatically as part of the INITIAL process to begin the process of ESTABLISHING the link from your U.S. bank to Bangkok Bank New York for ACH transfers. This is FREE. Once the link is verified you can then start using the link all you like normally. Again this is something for BB customer service ONLINE, not something anyone in a BRANCH would even know about to help you. Actually, Thapae Road Branch DID know about it and did explain it all to me when I made mine initially. You seem to be stuck on the person having to initiate it in the US.. I never questioned that. Link to comment Share on other sites More sharing options...
NancyL Posted April 24, 2014 Share Posted April 24, 2014 I do ACH transfers between my U.S. credit union account and our Bangkok Bank account several times a year. Our credit union calls it an "inter-bank transfer" and I do it using the e-banking bill pay function on the credit union website. I never did talk with anyone at Bangkok Bank about it -- just used their website for guidance. I did have to talk with the U.S. credit union to find out how to do this with their website and I and learned they had a $2500 maximum which is why I have to do transfers several times a year. Other U.S. banks/credit union may not have such a low limit. The credit union considers BB NYC to be a US bank. The money shows up in our BB CM account within hours of my doing the internet transfer. It's slick and cheap. Link to comment Share on other sites More sharing options...
NancyL Posted April 24, 2014 Share Posted April 24, 2014 Oh, when you do a ACH transfer, you use the routing no. for BB NYC, but the account no. is for YOUR account and it's unique to you, with your local branch as part of the account no., so BB NYC will know where the money is suppose to go. No need to "tell" BB NYC anything. 2 Link to comment Share on other sites More sharing options...
Thighlander Posted April 24, 2014 Share Posted April 24, 2014 If it is an ACH transfer, it will take about two days. Those are free at many banks. If it only took a few hours, then it was likely a domestic wire and you paid a fee. Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 I appreciate the effort of all those helping with this. Link to comment Share on other sites More sharing options...
Thighlander Posted April 24, 2014 Share Posted April 24, 2014 There is a difference in ACH (which is an electronic funds transfer), and an interbank transfer, in which case Fedwire would be used and that is an actual RTGS (real time gross settlement) system. ACH are done in batches. CH for "Clearing House." BKK Bank New York is doing wires, but they are also doing them in batches, likely no more than twice per day. Thats how they can make a lot of money on the fees they charge us. It's lumped together and wired, then broken back apart, when it hit Thailand. Link to comment Share on other sites More sharing options...
NancyL Posted April 24, 2014 Share Posted April 24, 2014 There is a difference in ACH (which is an electronic funds transfer), and an interbank transfer, in which case Fedwire would be used and that is an actual RTGS (real time gross settlement) system. ACH are done in batches. CH for "Clearing House." BKK Bank New York is doing wires, but they are also doing them in batches, likely no more than twice per day. Thats how they can make a lot of money on the fees they charge us. It's lumped together and wired, then broken back apart, when it hit Thailand. So, what's a interbank transfer and is it done "instantly"? It does seem that the funds show up in my local BB account fairly soon. Link to comment Share on other sites More sharing options...
thepool Posted April 24, 2014 Share Posted April 24, 2014 I use the BB London branch to facilitate fund transfers from the UK to Thailand. Funds are in my account within 24 hours of a transaction being initiated. Link to comment Share on other sites More sharing options...
Thighlander Posted April 24, 2014 Share Posted April 24, 2014 I use the BB London branch to facilitate fund transfers from the UK to Thailand. Funds are in my account within 24 hours of a transaction being initiated. The OP was asking about the process in the US. I was pointing out the difference between a wire to BKK Bank in NY and an ACH transfer. If I want to pay 20 USD, I can wire to BKK Bank NY, and get it here in less than a day. But to do it for free, and waiting an extra day seems like a better option for most. Link to comment Share on other sites More sharing options...
thepool Posted April 24, 2014 Share Posted April 24, 2014 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> I use the BB London branch to facilitate fund transfers from the UK to Thailand. Funds are in my account within 24 hours of a transaction being initiated. The OP was asking about the process in the US. I was pointing out the difference between a wire to BKK Bank in NY and an ACH transfer. If I want to pay 20 USD, I can wire to BKK Bank NY, and get it here in less than a day. But to do it for free, and waiting an extra day seems like a better option for most. Seems that it does not take a lot for American "wires" to become impossibly tangled ! You do "pay" to use the Bangkok Bank transfer facility in the US , it is not free ! Link to comment Share on other sites More sharing options...
circusman Posted April 24, 2014 Author Share Posted April 24, 2014 I will check out if my bank will charge something to ach my money to bkk bank in N.Y. I doubt they will do anything for free. Link to comment Share on other sites More sharing options...
thepool Posted April 24, 2014 Share Posted April 24, 2014 <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> I will check out if my bank will charge something to ach my money to bkk bank in N.Y. I doubt they will do anything for free. Within the UK bank to bank transfers do not attract a fee. I just pay the Bangkok Bank fees which are reasonable. Link to comment Share on other sites More sharing options...
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