Bangkok Bank NY transfer: Does the transfers only work if both accounts are the same person?

[Sojuncoke]

Or can an American send to a thai person with a Bangkok bank account?

[ClutchClark]

I hope you get a response soon.

Cheers

Edited July 3, 2014 by ClutchClark

[chiang mai]

If you look at it from a banking viewpoint there's no reason why the transfer can't be made to anyone, the funds will go to the account number you supply regardless of whether it belongs to you or somebody else.

But if you look at it from a US control standpoint, I don't know, does the US care that one of its citizens is sending money to a Thai national for example, they shouldn't, but....!

[CMSteve]

Many people receive their pensions through this method. Those transfers would be initiated from an account bearing a business name. There should not be any issue as long as the account number/registration name is correct. But as ^^chiang mai^^ says, there could be some regulatory issues.

[hidavey]

I had a friend that send me money from his account into my Bangkok bank account here via Bangkok bank in NYC. It's the best way to do it plus much easier then Western Union ( expensive too).

[sfokevin]

You can try... But I think then the names on the US account and the Bangkok Bank must match... This is up to your US bank...

But as others have stated the BBK bank transfer via EFT is great... Once set up it can be done via the internet and is the cheapest and you get the best exchange rate available.

[Mrjlh]

If the Thai person has a Bangkok Bank account you can transfer money to them from any US bank. You use the NY routing number and the Thais bank account number. You will be charged all fees associated with the transfer. That is why Bangkok Bank has an office in NY, so extended families can send money to family members in Thailand. If you still not convinced, simply call NY BB.

You can also send money to your BB account first and then using Bualang Banking (I-Banking) online transfer money to their account directly. Up to you. Either way you will pays fees.

Edited July 3, 2014 by Mrjlh

[Sojuncoke]

If you look at it from a banking viewpoint there's no reason why the transfer can't be made to anyone, the funds will go to the account number you supply regardless of whether it belongs to you or somebody else.

But if you look at it from a US control standpoint, I don't know, does the US care that one of its citizens is sending money to a Thai national for example, they shouldn't, but....!

Except it's just a regular ACH transfer from ones American bank to another different Thai person BB.

[lopburi3]

You can try... But I think then the names on the US account and the Bangkok Bank must match... This is up to your US bank...

But as others have stated the BBK bank transfer via EFT is great... Once set up it can be done via the internet and is the cheapest and you get the best exchange rate available.

As example rate today was 32.23 so a 2,000 transfer resulted in 1,995.00 being received in Bangkok and 200 baht fee so total of 64,098.85 deposit in baht.

[riclag]

If the Thai person has a Bangkok Bank account you can transfer money to them from any US bank. You use the NY routing number and the Thais bank account number. You will be charged all fees associated with the transfer. That is why Bangkok Bank has an office in NY, so extended families can send money to family members in Thailand. If you still not convinced, simply call NY BB.

You can also send money to your BB account first and then using Bualang Banking (I-Banking) online transfer money to their account directly. Up to you. Either way you will pays fees.

A tip send it Ach from your US bank its cheaper that way. Sorry I don't agree with this poster on sending money to your Bangkok Bank in Thailand account ,unless of course you send less then $10,000 a reminder anytime you have $10,000 or more on any given day in a Foreign Bank you have to report it to the US Treasury Department its called a Fbar. http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html.

[keeniau96]

The USA part is an ACH transfer from the originator to the BKK bank in NYC. The first time I had to set up the link from my USA bank to BKK bank in NYC. This involved my originating bank sending three trial transfers (nominal sum, a few cents each) and I had to verify that the BKK NYC account received the correct sums. They did indeed, I verified and all has been very smooth thereafter. The sticky wicket in the link verification process is that the BKK NYC bank receives those xmits of a few cents, then sends to the BKK account in TH whence they are converted to baht - very few baht - so you have to guesstimate what the net exchange rate used because you have to enter the verification amounts as US cents. Sounds like a major pain but it is actually fairly trivial and you only do this once to establish the link.

[givenall]

ACH from California bank to Bangkok Bank NY to my BBL account here had to have the same name

[lopburi3]

If the Thai person has a Bangkok Bank account you can transfer money to them from any US bank. You use the NY routing number and the Thais bank account number. You will be charged all fees associated with the transfer. That is why Bangkok Bank has an office in NY, so extended families can send money to family members in Thailand. If you still not convinced, simply call NY BB.

You can also send money to your BB account first and then using Bualang Banking (I-Banking) online transfer money to their account directly. Up to you. Either way you will pays fees.

A tip send it Ach from your US bank its cheaper that way. Sorry I don't agree with this poster on sending money to your Bangkok Bank in Thailand account ,unless of course you send less then $10,000 a reminder anytime you have $10,000 or more on any given day in a Foreign Bank you have to report it to the US Treasury Department its called a Fbar. http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html.

The FBAR is one report a year regardless of the number of accounts or days with 10k or more in them. It has nothing to do with ACH transfers so not sure what you are in disagreement with - most ACH transfers are limited to $5,000 unless increase is asked in any case.

[grin]

No guessing is necessary if you set up your BBL account to send you an SMS for each transfer. The SMS tells you the amount in both USD and THB.

Grin

[lopburi3]

The USA part is an ACH transfer from the originator to the BKK bank in NYC. The first time I had to set up the link from my USA bank to BKK bank in NYC. This involved my originating bank sending three trial transfers (nominal sum, a few cents each) and I had to verify that the BKK NYC account received the correct sums. They did indeed, I verified and all has been very smooth thereafter. The sticky wicket in the link verification process is that the BKK NYC bank receives those xmits of a few cents, then sends to the BKK account in TH whence they are converted to baht - very few baht - so you have to guesstimate what the net exchange rate used because you have to enter the verification amounts as US cents. Sounds like a major pain but it is actually fairly trivial and you only do this once to establish the link.

Actually if you set your account up for SMS alerts (free and highly recommended) the full information for all transfers is in that SMS. For those without all it takes is a phone call to obtain the details from many reports here.

[ClutchClark]

ACH from California bank to Bangkok Bank NY to my BBL account here had to have the same name

So then it is necessary to that the originating Bank and the BBNY account and the BBThai account all have the same primary account holder name as per the OP?

[Sojuncoke]

Also, the Thai person on the receiving end has their name in Thai characters. Would you put it in Thai characters on the sending end or in English?

[inzman]

Different names are ok, I've done it many times.

[Sojuncoke]

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Different names are ok, I've done it many times.

thanks

[chiang mai]

Monthly salaries must be paid!

[robbie22]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

[ClutchClark]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

"0.25 percent" is not the same thing as 25%.

Cheers

Edited July 3, 2014 by ClutchClark

[chiang mai]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

Oh dear! There's a minimum fee for each transfer, that minimum fee applies regardless of what amount you send. If you send a small amount the percentage will be higher than if you do what normal people do and send a larger amount where the percentage to fees is much smaller! Given those things are true and correct it's not difficult to imagine that a transfer might cost 100% in fees.

[ClutchClark]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

Oh dear! There's a minimum fee for each transfer, that minimum fee applies regardless of what amount you send. If you send a small amount the percentage will be higher than if you do what normal people do and send a larger amount where the percentage to fees is much smaller! Given those things are true and correct it's not difficult to imagine that a transfer might cost 100% in fees.

If the fee for a 3-day transfer is $3 then the only amount that would result in 100% in fees is if $3 was the total amount transferred. Any amount over that would result in an ever-decreasing fee schedule.

[chiang mai]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

Oh dear! There's a minimum fee for each transfer, that minimum fee applies regardless of what amount you send. If you send a small amount the percentage will be higher than if you do what normal people do and send a larger amount where the percentage to fees is much smaller! Given those things are true and correct it's not difficult to imagine that a transfer might cost 100% in fees.

If the fee for a 3-day transfer is $3 then the only amount that would result in 100% in fees is if $3 was the total amount transferred. Any amount over that would result in an ever-decreasing fee schedule.

Except the $3 presumably charge doesn't include receiving fees, also, the poster doesn't state how much he transferred during his small test run..

[lopburi3]

ACH fee is a deduction at Bangkok Bank NY of $5 under $2,000 and $10 for normal transfers over $2,000. These are the most often used fee.

At Bangkok Bank in Thailand a fee of .25% (1/4%) of transferred amount is charged in the range of 200-500 baht being deducted from final baht deposit.

[ClutchClark]

ACH fee is a deduction at Bangkok Bank NY of $5 under $2,000 and $10 for normal transfers over $2,000. These are the most often used fee.

At Bangkok Bank in Thailand a fee of .25% (1/4%) of transferred amount is charged in the range of 200-500 baht being deducted from final baht deposit.

Thanks.

[robbie22]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

I was wrong on the fee charges sorry about that. The facts are on a ACH transfer from USA to Thailand using Bangkok Bank NY you can opt to pay $20 same day $10 one day and $3 fpr three days. There is a limit of $1000 per day. Bangkok Bank in Thailand charges 200 baht min. and 500 baht maximum based on there 0.25 percent charge. It will still cost about 1500 baht for me to send my cash. Hope this helps somebody out there.

[Pib]

I hope you get a response soon.

Cheers

It does not matter if there are different names on the account. i just set up a ach transfer from USA to Bangkok Bank Thailand thru BKK Bank New York. No problems did a $3 three day transfer. Here is the big catch fellas Bangkok Bank charges .25 Percent of the transfer there fore i lost 25% of money i sent. Glad i did a small amount everybody was raving how much cheaper it was and that was the way to go. Well you guys do the math. I thought maybe there would be a 150 baht charge or something. Let me know if i am wrong.

On another note tried to get a debit card advance at Siam Bank they are now refusing told to use atm whose charge is now 180 baht. Went to Bangkok Bank they did it no problem. Anybody else can share there latest expierience thanks.

I was wrong on the fee charges sorry about that. The facts are on a ACH transfer from USA to Thailand using Bangkok Bank NY you can opt to pay $20 same day $10 one day and $3 fpr three days. There is a limit of $1000 per day. Bangkok Bank in Thailand charges 200 baht min. and 500 baht maximum based on there 0.25 percent charge. It will still cost about 1500 baht for me to send my cash. Hope this helps somebody out there.

I think your above reply could confuse some folks in thinking all the fees you mentioned are Bangkok Bank fees which is not correct. Where you mention $20 same day, $10 day one day, $3 three days, that's ACH Sending fee charged by your Sending bank whoever your bank is...I didn't see where you mentioned your U.S. bank name. These fees are not Bangkok Bank fees; they are fees applied by your particular USA sending bank. ACH sending fees varying amount banks...from $0 up. With the exception of a Bank of America account I still have which charges a $3 ACH sending fee for 3 business day transfers, all my other banks charge $0 (zero) for an ACH transfers which occurs within a couple of days...usually 1 to 3 days.

Now lets talk the Bangkok Bank fees. Once your Sending bank transmits the funds to Bangkok Bank NY the NY branch will apply/slice off a sliding scale fee depending on how much are are transferring but for most tranfers amounts it's probably going to be $5 or $10. Below chart shows their sliding scale fee schedule. And then NY banks flows the transfer on to your in-Thailand Bangkok Bank branch where the 0.25% (Bt200 min, Bt500 max) fee is apply. These are the only two Bangkok Bank fees.

Bangkok Bank New York fee schedule