Bangkok Bank transfers revisited

[Thighlander]

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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.

With an economy 1/7 the size of the US and the number of banks being so few it would be a much simpler process.

[Jingthing]

The ACH fee is likely to do a few dollars tops.

There is an issue though with DOLLAR LIMITS for each transaction and also TOTAL MONTHLY limits for multiple ACH transfers to the same bank.

That will vary according to your bank.

Mine limited to 2000 dollars per transaction.

[thepool]

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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.

With an economy 1/7 the size of the US and the number of banks being so few it would be a much simpler process.

YEP ! That big economy sure screws Americans !

[Thighlander]

The ACH fee is likely to do a few dollars tops.

There is an issue though with DOLLAR LIMITS for each transaction and also TOTAL MONTHLY limits for multiple ACH transfers to the same bank.

That will vary according to your bank.

Mine limited to 2000 dollars per transaction.

My bank states that the limits on number of transactions per month are to cooperate with federal guidelines. It is 6 per month. However, I did an ACH of 19,500 usd recently, and I think their limit is 100,000 usd. So it seems like those banks with the low limits are trying to force people to cough up the fees to do a true wire, but it is still only a domestic wire.

Edited April 24, 2014 by Thighlander

[DogNo1]

Thepool: I will be setting up the transfers when I am back in Tokyo for a few months over the summer. My understanding is that I can check the amount of the test transfers online through bualang ibanking. I could, if need be, telephone Bangkok Bank to find out the amount and their dollar equivalents but I'm wondering if you use BB's online facility. I don't know the web address or the registration and login procedures but I guess I can Google them. Any pointers will be appreciated.

[Mapguy]

Go to your local branch and sign up for banking on-line, should you wish to do so.

[cassde]

The most important thing to include when you do a transfer via Bangkok Bank in New York or London is the Payment Reference - that is your Bangkok bank account number in full followed by the swift code. Always send the amount in $ to obtain the best conversion rate of the day.

Follow the instructions given here and you won't go wrong.

[Jingthing]

The most important thing to include when you do a transfer via Bangkok Bank in New York or London is the Payment Reference - that is your Bangkok bank account number in full followed by the swift code. Always send the amount in $ to obtain the best conversion rate of the day.

Follow the instructions given here and you won't go wrong.

This thread is not about SWIFT transfers. It is about DOMESTIC ACH transfers. SWIFT codes are never needed or used for ACH domestic transfers. SWIFT codes are for international transfers.

[Mrjlh]

Also suggest you go to your local Bangkok Bank where you have your acct and fill out an "on-line-banking" form. In about one week you can then go online (Bualuang Banking)and check your bank statements and such. Much easier than trekking down to an atm every time.

[Nowisee]

This is great information, appreciate all who have added good info and links.

I have a BB savings account and online Bualong Banking.

When I first opened this account I also opened a FCD account, but could not fund the account because I needed to put funds in it... could not put funds in it until the account was verified with trial deposits... The staff at the bank were unable to help and kept telling me I needed to put money (from the US) in it first and I kept saying cannot until I can verify the trial deposit amount (BB was kicking it back because the trial deposit did not meet the minimum deposit amount) after 1 month I just let the account close due to lack of funding.

1. SO, do I even need a FCD account?

2. Can I just use my savings account and ACH (with BB of NY), do the transfer into my BB account, pay ($ fee) and done?

2a. If using the ACH transfer my understanding is that it will be transferred in US dollars and exchanged into baht upon deposit. I'm ok with that.

I think the advantage of the FCD account was that it could be transferred and kept in US dollars until I wanted to exchange it... the issue I had with that at the time was BB charged a fee for USD deposits.... at the time AEON was not charging a fee and it was just easier to do ATM withdrawal and deposit into my account.

[Thighlander]

a) I was required to show long stay status before they would process my paperwork for online banking.

I was able to link my us account to bkkbank ny, a few years before. A passbook update revealed the trial deposits as "FTT" one was 3.17 thb, the other 4.03....so I had to convert back to cents. I was able to do this without being approved for online banking.

C) no, you don't need an FCD account. They are only paying .1% interest on usd, and when you go to exchange; you will be getting .7% less than the TT rate you got from ACH to bkkbank ny.

I'm sure there are fees to bring in uSD, too. You can get about 1% in a savings account in the us at the better banks.

Edited April 26, 2014 by Thighlander