Down under or Thai? Aussie mum trades Oz for Land of Smiles

[Thunderthai]

Hi,

I want to retire in Thailand ( I have been there many times) I am European guy from Germany. I receive since I worked in USA for 6 years money from the SSA in Baltimore , Maryland.

I asked them to send my money to a Thai Bank ( I have an account there already ) But they answered me that they do not send retiremet money to Thailand.. .. we do not currently have an international depost arrangement in this ( Thailand) country

They wrote me I might consider the direct Express Debit masterCard programm ( www.UsDirectExpress.com) How do you guys from USA receive your money in Thailand, has anybody experience with that Debit mastercard Programm ?

Can I with that card take off money then in Thailand ?

One guy that I met ( an USA retirement guy ) told me that I can have the money sent anyway to a an apparently so called : Direct deposit account in Thailand .he told me that I must show my passport every time I take off money at a Thai Bank.

I hope you can help me

best Thunderthai

[enuff said]

.

You have to use Bangkok Bank. Go there with all info from the SSA. Especially your letter confirming you are eligible and your case number from that letter.

Tell them you want to open a pensioners account. They have the forms, including the one you send to Maryland telling them you want your money deposited into Bkk Banks New York branch.

You must have proof of address in Thailand.

You have to physically appear and take out the money each month. No ATM or internet banking allowed. After you have the account, you can use any branch to withdraw the funds each month (on or about the 3rd) but I have had probs at the mall mini-branches.

hope this helps,

'nuff said

PS. All info at ssa.gov under international accounts. I am pretty sure the other methods you mentioned require an address in the US.

~

Edited August 31, 2014 by 'nuff said

[Thunderthai]

Hi,

this was very very helpfull for me.

Thank you so much , now I know what I have do to.Execellent advice.

God bless

[ProThaiExpat]

The Asia specific SSA office is located in the US Embassy in the Philippines. Just call the Embassy in Manila and ask for the SSA office. They are very helpful and I believe you can receive forms and send forms to them by fax.

I transferred by SSA benefit from US Bank to BKK Bank through the SSA office in the Embassy in Manila. I tried first to do it though BKK bank and failed miserably.

[Thunderthai]

Thank you,

I will try first to do it by Bkk Bank

. So you send to money to Manila and then from there to Bkk.? I do not fully understand ??? Because I want to live in Thailand and I have not US citicenship I only worked there 6 years in the defence industries. . I am german. and german nationality.

What must I tell the SSA in that case with Manila ? I must them go to manila first.

Thank you for explaining me.

[ProThaiExpat]

Your situation is not the typical US citizen retiring and applying for SSA benefits however if you are truly entitled to SSA benefits the Manila Office of SSA located in the US Embassy can give you personal advice and prompt help. Dealing with the foreign department of headquarters of SSA in the US has got to be time consuming.

To be exact, if you are overseas, SSA has a separate office at Headquarters in the US to handle your claim. The office established to deal with Asia is located at the US Embassy in Manila and you can reach them by phone by calling the embassy directly. Call them and explain your situation to them and they will guide you in making your claim. They certainly know how to have your payments directed to BKK Bank Office in New York because they did it for me.

I you have not made a claim for your benefits and if you have not made a claim yet, then they will be vital to getting the process started or certainly tell you how to proceed. I trust you have a social security number. They have a computer in Manila that patches into the SSA system in the US and they make direct changes to your records such as changing direct deposits to a different bank. I just had my pension moved from BKK Bank to my US Bank in the last few months and it only involved a fax to them after talking to them on the phone.

Hopefully I have made my post clearer, if not, ask away.

I do it on Skype so it is not so costly. You can get their telephone number on their website.

[chuckd]

You state in your opening post that you are already drawing SS benefits.

That being the case, the information provided by 'nuff said, is on the mark.

Go to your nearest Bangkok Bank to open your Social Security retirement account. Take all your documentation and explain to them what you want to do.

If the bank you go to does not know anything about this type of account, have them call the following number at Bangkok Bank headquarters in Bangkok and talk to their people at this number:

022-301-323

Good luck.

Edited August 31, 2014 by chuckd

[bendejo]

I think it best to open a bank account in the US (look around and you can get one for free) and have SS make automatic deposits to it. From there transfer it to wherever you want. This is what I do, but I have a US address. Maybe you can do this via a German bank: I would guess the transfer process may be less complicated than dealing with a Thai bank.

The idea here is if there is an issue (what 20 years ago was called a "problem") and you find one of your accounts suddenly locked then your whole financial apparatus is not shut down. For example, if the Thai bank over-reacts for some reason or other then that whole stream from SS to your Thai account would be blocked. Perhaps a SS transfer is rejected for some reason beyond your control and it somehow gets back to SS that there is something dodgy about your account then it is really going to be a pain in the arse to set things right again.

One nightmare situation would be if your SS didn't arrive one month. SS says they sent it, Thai bank says they never received it, and you're the monkey in the middle. I would much rather deal with a US or European bank to rectify something like this (but I would rather not have to deal with it at all ).

I have my SS sent to a US bank account I use exclusively for that purpose, then transfer it to where ever. A lot easier now that paper banking is practically a thing of the past in Western countries the modern world.

[Rooo]

Moved to banking.

[Gumballl]

In case the OP did not fully understand the recommendation from the 2nd post, he/she needs to transfer monies from the US account to the Bangkok Bank in New York.

Here's a link for info. Essentially, one needs to perform an ACH (not to be confused with a Wire) transfer to the BB branch in New York, using the appropriate routing number and bank account number (note, must be a BB account).

Typically the local (US) bank will perform a couple of trail transfers (less than a $1) that the originator will need to confirm. Once everything is confirmed, then the local bank will allow transfers up to the amount allowed by (US) law.

With BofA, the minimum fee for a transfer is $3.

[wayned]

As stated in post number 2 you have to set up a direct deposit account with Bangkok Bank to have your SSA funds directly deposited to an account in Thailand. It is the only Bank in Thailand that you can receive direct deposits from the federal government. You must withdraw the funds in person and can not have ATM or internet access. The money is deposited in the Bangkok Branch in NYC on the 3rd of the month, day before if it's a weekend or holiday, and is usually available in the afternoon of the same day as it has to be converted tio baht. You can set up an SMS alert. I've had mine deposited there for over 8 years with no problems.

The number in post 7, 02-230-1323, is the office in Bangkok that can give you all of the info, if you can get them to answer. You can set up an account at a local branch but they might have to contact the main office to get the details correct. There is a form that needs to be filled out and signed by the bank that you have to send to the SSA. I did everything through Manila, but I initially applied for my SSA benefit here, I don't think that you have to use them to change where your payments are deposited if you are already receiving benefits.

[thailiketoo]

Workers do not automatically qualify for Social Security retirement benefits. Instead, they must work and pay a minimum level of Social Security taxes for at least 40 quarters during their working lives. These 40 quarters do not have to be consecutive. Currently, workers earn a credit for each three-month period in which they earn at least $900. Once they have worked and paid Social Security taxes for the required 40 quarters, they are fully qualified to receive Social Security retirement benefits.

http://www.heritage.org/research/reports/2005/03/how-todays-social-security-works

[dinger]

I am confused as stated above, it doesn't sound like you have worked enough to receive SS benifits, so what money are you talking about? Are you receiving disability benifits? (I am just asking a question)

[Thunderthai]

Hi, I am overwhelmed by your helpful coments and post in this matter to help me.

There is so much usefull information.

Let me shortly explain;

I worked in the USA for 6 years in the defence and aircraft/misile industries.

I have a social security number and I receive already since 5 years without any problems my retirement money sent to a german bank.

Every 2 years I receive a form from the SSA about proof of life I guess what is called in the english language. I have to fill out that form within 14 days and send it back to USA. In that form I must write my current address and if anything has changed in my life ( divorce, taking up a job etc)

so all that works perfectly.

But if I now want to move to Thailand I must give up my german bank account because by law, if I live more than 180 days outside germany /Europe then I am not considered to be a resident of Germany , different tax laws appy then. And I must report my address then to the SSA as usual. I also have to give them ( SSA ) my phone number wherever I reside.

So, to avoid getting in trouble. I want them at the SSA to know where I live in Thailand and have a good/ legal way to receive my retirement money then ( Peace of mind)

Thank you for great help, I wish I could all invite you for a beer :-)

[thailiketoo]

Hi, I am overwhelmed by your helpful coments and post in this matter to help me.

There is so much usefull information.

Let me shortly explain;

I worked in the USA for 6 years in the defence and aircraft/misile industries.

I have a social security number and I receive already since 5 years without any problems my retirement money sent to a german bank.

Every 2 years I receive a form from the SSA about proof of life I guess what is called in the english language. I have to fill out that form within 14 days and send it back to USA. In that form I must write my current address and if anything has changed in my life ( divorce, taking up a job etc)

so all that works perfectly.

But if I now want to move to Thailand I must give up my german bank account because by law, if I live more than 180 days outside germany /Europe then I am not considered to be a resident of Germany , different tax laws appy then. And I must report my address then to the SSA as usual. I also have to give them ( SSA ) my phone number wherever I reside.

So, to avoid getting in trouble. I want them at the SSA to know where I live in Thailand and have a good/ legal way to receive my retirement money then ( Peace of mind)

Thank you for great help, I wish I could all invite you for a beer :-)

You don't get any SS retirement money unless you have worked in the USA for 40 quarters. So you must be getting some other kind of retirement benefit. Perhaps it is a pension from the company you worked for but it is not from the US government. There may be the difference in requirements.

[Thunderthai]

Hi, I do get money from th SSA, I have a social security number , I do not get any money form private companys.

Maybe since germany has a treaty( mutual agreement) with the USA I do get my pension from the USA 100% without any problems each month usually the 3 rd day of the month the money from the SSA is in my german account in my german bank, I do not know if I can post here their yearly letter in which my benefits are stated. Just believe me. On the other hand I still have german friends in California and they worked a short time only in Germany until they immigrated to the USA and Germany pays them every month as well their pension even if it is only ( for the short time ) less than 100 US Dollars. I try to post my letter from The SSA where they tell me that they do not send money to Thailand only with that obove mentioned Card.

Thank you.

[wayned]

The US and Germany have a Totalization Agreement where he will be paid his retirement benefits by the US SSA if he has worked in the US for five or more years. The benefit is paid based on him both working in Germany and the US for the same Company. Here's a link to a site that explains it better than I can: http://www.ssa.gov/international/Agreement_Pamphlets/germany.html

Edited September 1, 2014 by wayned

[Thunderthai]

Thank you again so much.

I did not work for a german company in USA. I immigrated to the USA and worked there for a pure USA company that have no branch or whatsoever in Germany.We only bought in Germany all the precision maschines for misile development etc.But no strings to german pay rols or whatsoever.

For famliy reasons I returned to germany . I get pension from Germany too, so no problem with that. Germany will send my pension money without any problems to any Thai Bank. They confirmed that, this is no problem at all.

Thank you again.

[TDCNINJA]

http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromusa/pages/receivingfundsfromusa.aspx

The US Treasury Department has ceased issuing paper cheques for the payment of Federal retirement benefits such as pensions, annuities or payroll, including Social Security and Veterans Affairs payments, and now requires direct deposit of your benefit into your bank account. You will therefore need to notify the US government agency providing your Federal benefit how you wish to receive payments.

As Bangkok Bank is the only provider in Thailand offering a direct deposit services into a Thai bank account, you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches).

Benefits of the Direct Deposit Service

• Your payments are deposited directly to your account every month.
• Funds will be converted into baht using the rate for receiving electronic funds transfers (Buying TT rate).

How to apply: If receiving payments from a US Government Agency

1. Download the 'Direct Deposit Sign-up Form (SF1199A)' fromwww.socialsecurity.gov/online. Complete the form to sign up for Direct Deposit with your relevant US government agency.
2. Open a savings account at any Bangkok Bank branch (except micro branches). If you already have an account with Bangkok Bank, you can use your existing bank account for this service, however we will need to change the type of account in line with the Direct Deposit’s terms and conditions.
3. Complete a 'Direct Deposit Service Application' form, which you can pick up at any Bangkok Bank branch (except the micro branches). You can also opt to fill out an SMS Remittance Alert Service Request Form to receive an SMS notification on your mobile phone when funds have been successfully transferred into your Bangkok Bank account.
4. Submit all forms to Bangkok Bank with the following supporting documents:
   • Identification Card/Government Official ID Card/Passport together with a customer identification document such as your Social Security Card, Annuitant ID Card etc.
   • A document from the relevant agency giving evidence of your right to receive the payments.
5. After verifying your documents, Bangkok Bank will submit your application to the government agency asking them to approve your request to receive the funds via Direct Deposit.
6. After the request is approved by the US Government Agency, your payments will be electronically deposited directly into your Bangkok Bank account.

Important

If you use a direct deposit service to receive funds from a US Government Agency, you must appear in person at a Bangkok Bank branch to withdraw the funds.

Bangkok Bank cannot authorize the withdrawal of funds from your direct deposit account by an appointed representative, or via ATM or any other electronic channel. You must appear in person at a Bangkok Bank branch to withdraw the funds. You can, however, open a normal savings or current account and transfer the funds from your direct deposit account to this account. You may then withdraw your funds as usual via ATM or any other electronic channel.

You can also opt to directly contact the US Government Agencies to send funds into your savings account with Bangkok Bank. However, we still need to request that you change your savings account to a Direct Deposit account. Failure to comply will result in Bangkok Bank not being able to deposit funds transferred from the US Government Agency into your account.

How to apply: If receiving payments from a private organization

1. Request the 'Authorization Agreement for Automatic Deposits (ACH Credits)' form or ‘Related Direct Deposit’ form from the organization or the Agency that will be making the payment to you. Complete the form to request the Direct Deposit service.
2. Open a savings account at any Bangkok Bank branch in Thailand. If you already have an account with Bangkok Bank, you can use your existing bank account for this service.
3. Request your home branch to issue a bank reference letter to certify your bank account details such as account type, account number, date of account opening and current balance to be provided to your agency.
4. Indicate the Routing Number 026008691 of Bangkok Bank’s branch in New York and your account number with Bangkok Bank in Thailand on your 'Authorization Agreement for Automatic Deposits (ACH Credits)' form or ‘Related Direct Deposit’ form.
5. Submit the form with the required information such as your Identity Card or Social Security Card, or evidence of your right to receive the payments from the company, together with Bangkok Bank’s Reference Letter. Mail the signed form to the US company asking it to approve the request and initiate direct deposits into your account.
6. After the request to receive direct deposits is approved, your payments will be electronically deposited directly into your Bangkok Bank account.

[chuckd]

Thunderthai:

Be sure you provide SSA with your local Thai address when you get settled.

The "proof of life" letter will still follow you and still must be returned to SSA for your benefits to continue.

[Thunderthai]

Hi thank you all again.

It was a great help for me I am sure I have all the information now to get it done. I will start with the Bangkok Bank and see waht will happen.

Thank you really all, I like this website