Kudos (Again) to Bangkok Bank

[JusMe]

I've had problems in the past managing a bank transfer while out of the country. This year I thought I'd solved the problem - I have one phone which works only in Thailand, another which works only in Canada, but got yet a third which would work in both countries so I could receive the security SMS to transfer the funds.

Lo and behold - the battery on that phone blew up and I couldn't replace it.

So, once again, I turned to the staff at Bangkok Bank who so very efficiently and smoothly managed the transfer for me with me sending them copies of necessary documents as attachments to an email.

We often complain, so here's a public thank you and expression of gratitude and appreciation for the wonderful help I received from the staff at Bangkok Bank.

[Killian30]

+1

Also shout out for SCB English phone support always excellent!

[buddhaland]

I am also a fan - used to be with the "yellow" bank and had nothing but problems. Their ATM ate my Social Security debit card and was told that the machine automatically destroyed it. I can still scarcely believe that's legal! Were it not for a sizeable loan from friends at home, I would have had to go a month or more with no social security payment. I switched to Bankok Bank, and they have just been the best - unfailingly helpful, many English speaking employees, and they are the only Thai bank that can receive my Soc. Security direct deposits. I truly can't see why an American in Thailand would bank anywhere else!

[bob strutt]

compared to aussie banks and i have tried them all, the bangkok bank can not do enough for you a really first class thai company, just having a new hip op, they could not help me enough for money transfers, some how aussie banks lost the money with the help of citi bank, bangkok, the bangkok bank went out of there way to track the monies down, west pac appologised, and did at least refund part of the the fees after 50 emails, citi bank just gave me a terrible rate, , never again, am moving everything to thailand, at least you do get some service and respect here when you walk in, maybe that i have no borrowings they do not like me any more in aus?

[sghanchey]

I am also a fan - used to be with the "yellow" bank and had nothing but problems. Their ATM ate my Social Security debit card and was told that the machine automatically destroyed it. I can still scarcely believe that's legal! Were it not for a sizeable loan from friends at home, I would have had to go a month or more with no social security payment. I switched to Bankok Bank, and they have just been the best - unfailingly helpful, many English speaking employees, and they are the only Thai bank that can receive my Soc. Security direct deposits. I truly can't see why an American in Thailand would bank anywhere else!

[sghanchey]

Buddhaland- please explain how Bangkok Bank can arrange for direct deposit of US Social Security payments, and how much of a hit one takes with exchange rate or transfer fees. I'm currently wiring mine from my US bank and it costs me $45 each time. Thanks.

[NoshowJones]

Nothing but praise for Bangkok Bank, have a personal and business account with them and it just works.

Much better service from them than I get from HSBC in the UK.

I would bet that the Bangkok Bank branch involved is not the one at the Emporium.

[bangkapi]

I've been with BKK Bank for 23 years... And I will stay with them.

Last year my ATM card was skimmed in Philippines and cleaned out a week later from various ATMs in Malaysia while I was in transit to Africa.

It took about 1 year and the case was closed at one time. But, with persistence, I had it reopened and my money was replaced to the satang.

(approx.127K baht)

[maderaroja]

Buddhaland- please explain how Bangkok Bank can arrange for direct deposit of US Social Security payments, and how much of a hit one takes with exchange rate or transfer fees. I'm currently wiring mine from my US bank and it costs me $45 each time. Thanks.

I Direct Deposit to a bank in the U.S. Then, I ATM withdraw at a Bangkok Bank. The charge is 180฿ for up to 25,000฿. That is about $800 + or -.

I find it to be the least cost of all the Thai banks.

[jobin]

My soc sec payments made to my usa bank. then i transfer as needed to bangkok bank newyork city. have already a bangkok bank account here. easy to transfer. get the funds 2/3 days and pay about us$15 each time. in future i will be doing less frequently but bigger amounts.

[maake55555]

My soc sec payments made to my usa bank. then i transfer as needed to bangkok bank newyork city. have already a bangkok bank account here. easy to transfer. get the funds 2/3 days and pay about us$15 each time. in future i will be doing less frequently but bigger amounts.

I have my money sent to my bangkok bank account in NY and it costs me nothing. I get it here in a couple of days and use my BKKB ATM card and have never had a problem. I use to get really bad exchange rates, but now that has even changed, so am very happy with my BKKB situation right now.

[Langsuan Man]

Just called Bangkok Bank via SKYPE from the US to obtain the US cent amounts for verifying deposits and within seconds had the information

[Pib]

Bangkok Bank has been good to me over the years.

[ChiangraiTony]

Buddhaland- please explain how Bangkok Bank can arrange for direct deposit of US Social Security payments, and how much of a hit one takes with exchange rate or transfer fees. I'm currently wiring mine from my US bank and it costs me $45 each time. Thanks.

If I understand your question correctly... Assuming you're living in Thailand, you'll have to go to the US embassy, and in Chiang Mai it's easier than BKK.

Anyway, at the embassy they can assist but you will have to contact and communicate with the SS administer located in the Philippines. They administer US Social Security for SE Asia regions.

They can process your SS benefits to come to a Thai bank account.

Before you can do anything you will have to go to Bangkok bank in Thailand and set-up a US dollar account, which will be in New York. Then at the same time you will need to set-up a Thai bank account with Bangkok Bank. ( now you will have two accounts) for processing your SS benefits.

This is a special Thai account only to be used for SS.

So, basically here is how it works... SS in USA sends the SS benefits to your Bangkok Bank in NY and then transfers it to your Thai bank account. The BKK in NY charges about $5.00 and the Thai Bangkok bank charges another fee not to exceed 500 baht (usually it's lower) but definitely less expensive if you do it this method as opposed to just doing a funds transfer and paying $45.00 US dollars.

You must remember however that when you set-up a SS account this way using BKK bank, when the SS benefits are sent to you here in Thailand, you have to physically go to the bank to retrieve your money, you cannot have an ATM card for this type BKK bank used for Social Security.

If you absolutely need an ATM card then... You withdraw you SS funds from your BKK bank and open a regular account with an ATM, and just deposit your SS funds into that ATM account. Then will will be able to use an ATM. In either case, you still must report to the Bangkok Bank in person to get your SS funds each month.

I never had SS benefits received directly from US, I didn't apply for SS that way. When applied for my SS it was beginning at the US embassy in Chiang Mai. From start of application to actually receiving my SS benefits, it took less than 3-months. In the Philippines they do a good job and fairly quick. What seems to take the most time is the handshaking that has to take place between the new Bangkok Bank account set- up and verification through the Philippines and SS in America.

Also, once you have everything working, for 10 baht each month at Bangkok bank you can get SMS messages to let you know when your SS funds are received and available for you.

Hope this helps!

Best of luck.

[Nuddy]

I too have a lot of time for the Bank mentioned in this forum/topic. When I first came here there was a loverly lady who spoke a lot of english working there. She has since retired but still does Insurance and Assurance. I continue to deal with her for this part of the business. In the town I live in we had a Tesco Lotus open here and the Bank opened a branch (sub-branch) there. Many times in the main branch they suggested we go out to the Lotus sub branch for faster service. The main branch was full and they couldn't cope. We all went out to the Lotus sub branch. Its now a full branch and busy open 7 days a week. I go sometimes to the original branch in our town where I started and its empty, the staff are really the leftovers. The Lotus branch is just that, a Lotus. Nothing is too much trouble. Everything is cool.They sell banking products and not insurance products. The old original branch high pressures insurance products and the day to day transactions are extremely slow.

Its a really interesting situation. Regards.

[Pib]

You don't establish any account with the Bangkok Bank "New York" branch...that branch is not for retail customer...it's only for commercial/wholesale account; you only use their "routing number" combined with your Direct Deposit Saving account number you can establish at any "in-Thailand" Bangkok Bank branch. You can use the NY branch routing number without having an account with them.

Go to this Bangkok Bank webpage and readup on transferring funds from the U.S. and setting up a Direct Deposit account for U.S. govt payments (i.e., SS pensions, military retirement pensions, etc).

[ChiangraiTony]

You don't establish any account with the Bangkok Bank "New York" branch...that branch is not for retail customer...it's only for commercial/wholesale account; you only use their "routing number" combined with your Direct Deposit Saving account number you can establish at any "in-Thailand" Bangkok Bank branch. You can use the NY branch routing number without having an account with them.

Go to this Bangkok Bank webpage and readup on transferring funds from the U.S. and setting up a Direct Deposit account for U.S. govt payments (i.e., SS pensions, military retirement pensions, etc).

Not to try to confuse anyone but...

What you say may be true however, if you chose to do it the way I have, you can benefit a great deal when the time comes.

I visited the Bangkok Bank in Thailand and set-up a US dollar account. I received an account number and an account book for Bangkok Bank in NY. Essentially the Bangkok Bank in NY acts like a brokerage where they transfer the funds to Thailand. You cannot actually open a Bangkok Bank in NY but you can do everything here in Thailand, they can set it.

When I want to transfer US dollars from another bank in USA, I have it sent to NY Bangkok Bank. The funds from another USA account go into the Bangkok bank US dollar account.

Now your US dollars can remain in this Thai account (no limit on when you have to withdraw funds). If you watch the strength of the US dollar versus the Thai baht then you can wait for when the US dollar is stronger and the Thai baht is weaker. Then you can take advantage of the better exchange rate. When the US dollar is stronger then just transfer from the US dollar account into your another Thai Bangkok Bank account in Thailand and you will have received a better exchange rate.

SCB offers something similar but imposes a restriction of 1-year. So in other-words, you SCB US dollars can only remain in the US dollar account NOT more than1-year. Bangkok Bank on the other hand has no such restriction for the amount of time you can keep your US dollars in your US dollar account. This is a real plus for US dollar holders.

I had some US dollars in my Bangkok Bank, US dollar account and when the Thai baht went over >32 baht to the US dollar, I made the transfer and ended up with a lot more money if I hadn't waited. This is a really good benefit that Bangkok Bank offers and which should be considered when transferring US dollars to Thailand.

[Lex Talionis]

Right now I'm back in the States which is 12 hours behind Thailand (13 with DST). Yesterday I needed to call the Bank to verify some trial credit deposits and I tell you it sure was made easy by their 24hr telephone service with a fluent English speaking customer service rep at the other end. (Used my Skype intl. calling service btw at the ridiculously low 2.3cents/minute, a bargain that.) Things couldn't have gone smoother. My hat's off to them.

[farang101]

thanks for the topic, can you tell me about the phone that answers sms in both countries that you mentioned, to me that would be great since we are planning on going back to USA for a few years and keep the Condo until either the market gets better for sales or the wife cannot take it anymore and wants to come back home.

We will continue our Bkk Bank account and the retirement money there as well.

In my case I tried the direct deposit SS to Bkk Bank in NY and then to here in Bkk.

I saw after a month or two that it was too expensive compared to leaving the SS direct deposit going to Citibank account in USA and then going to Asoke branch Citibank and just using our USA card which for Citigold has no fee at all.

Allowed to take out 40,000 baht from Checking and 40,000 baht from Savings every day limit.

Please let me know the phone situation though that we can use, we might want to give up our Truemove three accounts when we leave ?

If we decide to stay in USA we can probably wire transfer from Bkk Bank the money to Citibank USA or since we will need to make Condo Common charge payments every six months we can set that up for auto payment I guess from Bkk Bank to our Condo bank and no sms is necessary for that I think.

Cheers

[Nowisee]

Nothing but praise for Bangkok Bank, have a personal and business account with them and it just works.

Much better service from them than I get from HSBC in the UK.

Very happy with my Bangkok Bank account and the all the services they provide. Almost every time I have contact with a customer service staff I try to tell them I am pleased with BofB.

The NY Branch is a life saver... PLEASE Bangkok Bank...NO NOT ever get rid of this.

I recently ended my relationship with HSBC in US.

[Guest]

ditto Bangkok bank has first class service

[fletchsmile]

Heretic! Blasphemy!

You'll upset those that continually post how bad Thai banks are based on everything they read on Thai Visa. To them the complaints on the internet are highly representative of their "real world"

Yes. I've had quite a lot of good experiences with banks here. Bangkok Bank included. I've also had and continue to have excellent service through my RM at Standard Chartered.

Not to say it's all roses and you can't get poor service from time to time. A key thing people forget though is it's often the systems, bureaucracy, regulations, red type and other factors which the poor staff have to deal with which impacts their service. Plus having to deal with foreigners who (actually don't) know it all and how it "should be", in a second language...

Cheers

Fletch

[JusMe]

thanks for the topic, can you tell me about the phone that answers sms in both countries that you mentioned, to me that would be great since we are planning on going back to USA for a few years and keep the Condo until either the market gets better for sales or the wife cannot take it anymore and wants to come back home.

Phones vary so perhaps you can check with this phone compatibility link. No guarantees, but that at least gives you an idea whether the phone will work in different countries.

Once you've got a compatible phone, all you need do is transfer the SIM to the one that works, ensuring you've got enough air time paid for or arranged on that SIM to receive the SMS.

[farang101]

Thank-you I have a compatible phone Nexus 5 however the sim from Thailand True move I do not know if it will receive a sms in USA from Bangkok Bank? if so then I am all set. You mentioned that you have that ability if so what phone do you use with what carrier here in Thailand that can resolve an sms in foreign country and what country were you able to receive the sms in from Bkk?

thanks.

[farang101]

Thank-you I have a compatible phone Nexus 5 however the sim from Thailand True move I do not know if it will receive a sms in USA from Bangkok Bank? if so then I am all set. You mentioned that you have that ability if so what phone do you use with what carrier here in Thailand that can resolve an sms in foreign country and what country were you able to receive the sms in from Bkk?

thanks.

[Langsuan Man]

Thank-you I have a compatible phone Nexus 5 however the sim from Thailand True move I do not know if it will receive a sms in USA from Bangkok Bank? if so then I am all set. You mentioned that you have that ability if so what phone do you use with what carrier here in Thailand that can resolve an sms in foreign country and what country were you able to receive the sms in from Bkk?

thanks.

I would assume that True would allow International roaming and if they do I would hope that incoming SMS would be free, like they are for AIS and DTAC when in the US

[JusMe]

Thank-you I have a compatible phone Nexus 5 however the sim from Thailand True move I do not know if it will receive a sms in USA from Bangkok Bank? if so then I am all set. You mentioned that you have that ability if so what phone do you use with what carrier here in Thailand that can resolve an sms in foreign country and what country were you able to receive the sms in from Bkk?

thanks.

I think the SIM card will work internationally as long as you have it set to accept roaming. I did put the card into all phones, and the phone starts up and reads the card, but as the phone seems network specific, ….

I get confused by all this, but my Canadian phone is locked to the provider and I can't unlock it. My Thai provider is DTAC and the SIM won't work in the Canadian phone due to the locking, and the Thai phone won't connect to the Canadian network at all to receive an SMS through DTAC.

I thought I'd solved the problem with a third phone which will accept both SIM cards from DTAC and my Canadian provider, and will connect to networks in both countries, but then the battery expanded and I couldn't immediately replace it.

If it's relevant, all my phones are as simple as I can get them - Thai phone is Samsung, both Canadian and "international" phones are Nokia.

[DrDave]

Right now I'm back in the States which is 12 hours behind Thailand (13 with DST). Yesterday I needed to call the Bank to verify some trial credit deposits and I tell you it sure was made easy by their 24hr telephone service with a fluent English speaking customer service rep at the other end. (Used my Skype intl. calling service btw at the ridiculously low 2.3cents/minute, a bargain that.) Things couldn't have gone smoother. My hat's off to them.

Question regarding the verification of trial deposits...

I've used the New York branch to transfer funds to the BKK Bank accounts of others (daughter and wife), in which case no trial deposits are done by my US bank.

When transferring funds to my own account at BKK Bank, my US bank will do 2 trial credit deposits, and then a reversing debit after the verification is complete. The only reason I haven't setup transfers to my own account at BKK Bank is because BKK Bank mentions on their website that they will process credit transactions only via the ACH for their NY branch, and if a debit transaction comes in they reserve the right to cancel your account.

Am I correct in assuming that the subsequent debit issued by the US bank to reclaim the trial deposits will not trigger some sort of review/cancellation of my account?

[Pib]

Right now I'm back in the States which is 12 hours behind Thailand (13 with DST). Yesterday I needed to call the Bank to verify some trial credit deposits and I tell you it sure was made easy by their 24hr telephone service with a fluent English speaking customer service rep at the other end. (Used my Skype intl. calling service btw at the ridiculously low 2.3cents/minute, a bargain that.) Things couldn't have gone smoother. My hat's off to them.

Question regarding the verification of trial deposits...

I've used the New York branch to transfer funds to the BKK Bank accounts of others (daughter and wife), in which case no trial deposits are done by my US bank.

When transferring funds to my own account at BKK Bank, my US bank will do 2 trial credit deposits, and then a reversing debit after the verification is complete. The only reason I haven't setup transfers to my own account at BKK Bank is because BKK Bank mentions on their website that they will process credit transactions only via the ACH for their NY branch, and if a debit transaction comes in they reserve the right to cancel your account.

Am I correct in assuming that the subsequent debit issued by the US bank to reclaim the trial deposits will not trigger some sort of review/cancellation of my account?

When a U.S. bank attempts to pull back the trial deposits it will be disapproved by Bangkok Bank as implied/stated on their website. As you know, taking money "out of Thailand" usually involves completion of a documentation/approval obstacle course...Thai banks accept incoming money with Smiles...Thai banks frown on outgoing money and require documentation/approval.

Anyway, it's totally up to your "home country" bank as to how they react to a ACH trial deposits Pull-back attempt, like possibly not completing the the setup of the transfer link even though you validate the trial deposits amounts. On the Bangkok Bank end they will "not" close your account or anything. And it's highly unlikely your home country bank will react negatively either...they never have for me.

Over the years, I've setup a lot of transfer links to various Bangkok Bank accounts I had/still have and 90% of the time the trial deposit method was used by my U.S. banks...the trial deposits arrived my Bangkok Bank accounts OK and I used the trial deposit amounts to validate the transfer link setup with my U.S. banks....never, ever were the deposits successfully pulled back and they remained in my Bangkok Bank accounts.....and never, ever did it cause a problem with my home country bank like not completing setup of the transfer link...my validation of the trial deposit amounts was the only thing required.

Now that other 10% of the time was when I was setting up a transfer link to Bangkok Bank from one of my U.S. banks that also offered the method of "not" using trial deposits in that you would setup the link for "Sending" funds only; not Sending and Pulling. And of course never attempt to Pull funds from Bangkok Bank using an ACH transfer link you have setup because Bangkok Bank will just reject it and then your home country bank may block the transfer link trying to figure out if some fraudulent transaction is being attempted because the far-end bank disapproved the ACH Pull attempt.

Now when I've setup transfer links between U.S. banks you can see the ACH deposits arriving and then being pulled back...Sending "and Pulling" funds between U.S. banks is no problem. But trying to pull funds from your Bangkok Bank account via the Bangkok Bank NY branch is a no-go, but remember this no-go will not affect your "Bangkok Bank account" for ACH trial deposits attempted pull-backs are coded and treated differently than a normal Pull-back attempt...like trying to pull say $500.

[DrDave]

Right now I'm back in the States which is 12 hours behind Thailand (13 with DST). Yesterday I needed to call the Bank to verify some trial credit deposits and I tell you it sure was made easy by their 24hr telephone service with a fluent English speaking customer service rep at the other end. (Used my Skype intl. calling service btw at the ridiculously low 2.3cents/minute, a bargain that.) Things couldn't have gone smoother. My hat's off to them.

Question regarding the verification of trial deposits...

I've used the New York branch to transfer funds to the BKK Bank accounts of others (daughter and wife), in which case no trial deposits are done by my US bank.

When transferring funds to my own account at BKK Bank, my US bank will do 2 trial credit deposits, and then a reversing debit after the verification is complete. The only reason I haven't setup transfers to my own account at BKK Bank is because BKK Bank mentions on their website that they will process credit transactions only via the ACH for their NY branch, and if a debit transaction comes in they reserve the right to cancel your account.

Am I correct in assuming that the subsequent debit issued by the US bank to reclaim the trial deposits will not trigger some sort of review/cancellation of my account?

When a U.S. bank attempts to pull back the trial deposits it will be disapproved by Bangkok Bank as implied/stated on their website. As you know, taking money "out of Thailand" usually involves completion of a documentation/approval obstacle course...Thai banks accept incoming money with Smiles...Thai banks frown on outgoing money and require documentation/approval.

Anyway, it's totally up to your "home country" bank as to how they react to a ACH trial deposits Pull-back attempt, like possibly not completing the the setup of the transfer link even though you validate the trial deposits amounts. On the Bangkok Bank end they will "not" close your account or anything. And it's highly unlikely your home country bank will react negatively either...they never have for me.

Over the years, I've setup a lot of transfer links to various Bangkok Bank accounts I had/still have and 90% of the time the trial deposit method was used by my U.S. banks...the trial deposits arrived my Bangkok Bank accounts OK and I used the trial deposit amounts to validate the transfer link setup with my U.S. banks....never, ever were the deposits successfully pulled back and they remained in my Bangkok Bank accounts.....and never, ever did it cause a problem with my home country bank like not completing setup of the transfer link...my validation of the trial deposit amounts was the only thing required.

Now that other 10% of the time was when I was setting up a transfer link to Bangkok Bank from one of my U.S. banks that also offered the method of "not" using trial deposits in that you would setup the link for "Sending" funds only; not Sending and Pulling. And of course never attempt to Pull funds from Bangkok Bank using an ACH transfer link you have setup because Bangkok Bank will just reject it and then your home country bank may block the transfer link trying to figure out if some fraudulent transaction is being attempted because the far-end bank disapproved the ACH Pull attempt.

Now when I've setup transfer links between U.S. banks you can see the ACH deposits arriving and then being pulled back...Sending "and Pulling" funds between U.S. banks is no problem. But trying to pull funds from your Bangkok Bank account via the Bangkok Bank NY branch is a no-go, but remember this no-go will not affect your "Bangkok Bank account" for ACH trial deposits attempted pull-backs are coded and treated differently than a normal Pull-back attempt...like trying to pull say $500.

Pib, thank you for your clear and informative answer!

I'll give it a try after the US bank holiday Monday. I'll be setting this up from my E*Trade brokerage account - can't imagine they would have a problem with a rejected "pull-back" of less than $1.