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Any US Social security recipients out there doing direct deposits?
You are using the IDD direct deposit method which as you said travels via the SWIFT system vs the ACH system. You "can not" use exchange rates like at XE.com, Wise, etc., because the exchange rate is determined U.S. Treasury/its IDD contractor bank (currently Citibank Global for IDD to Thailand) several days before the actual transfer occurs. And no, you can not look at the monthly exchange rate posted by US Treasury on their website as that rate is not being used....that's a rate used for different purposes like for tax purposes. The only fee K-bank should be charging to receive the IDD Direct Deposit is Bt100 which is actually a BAHTNET receiving fee as the last leg of the IDD/SWIFT transfer occurs via the BAHTNET system which interfaces with the SWIFT system. There are no other fees along the way....no fees like if you were using the "ACH" direct deposit method to a Bangkok Bank acct where a Bangkok Bank New York branch fee of $5 or $10 (depends on the amount of the transfer) is charged as the funds flow thru them onto your in-Thailand Bangkok Bank where a receiving fee of 0.25% (min Bt200, max Bt500) is charged. Both of these ACH fees are "hidden" fees and do not appear on your bank statement/passbook. And the IDD BAHTNET receiving fee of Bt100 is also a hidden fee. So, to determine the "IDD" exchange rate you need to know your SSA direct deposit "net" payment, repeat, "net" amount in dollars. Net means after all deductions such as tax, Medicare, etc.,...this will be the amount converted to baht and then transmitted to your Thai bank. Now look at the amount of baht that "posted" to your Thai bank acct and then add Bt100 (i.e., that BAHTNET fee) as that will be the total amount that initially arrived your Thai bank before K-bank applied their Bt100 fee......then divide that total amount by your SSA "net" dollars...you will now have the IDD exchange rate used. The IDD exchange rate for the 3 Oct 2024 payment was Bt32.158 per USD. If you had been using the ACH direct deposit method to a Bangkok Bank acct the exchange rate should have been Bt32.86 per USD (that's the Bangkok Bank 3 Oct 2024 0830hrs "TT Buying Rate" which would have been used for a incoming SSA payment via ACH. Although the Bangkok Bank Exchange rate is higher than the IDD rate the Bangkok Bank total ACH fees are higher so in doing a cost comparison be sure to consider exchange rate "and fees." My wife receives her SSA direct deposit via IDD...by looking at her 3 Oct payment and knowing her net SSA payment that's how I figured out the IDD exchange rate of 32.158. She started using IDD when if first became available for Thailand in 2019. I tracked/compared the exchange rate for 12 months during Jul 2019- Jun 2020. Compared it to the "ACH" direct deposit method which included fees. See below spreadsheet snapshot from June 2020 when the exchange rate was several baht lower compared to today....I stopped tracking at that point as I had the data/answer I wanted. Note that around $1,125 and above net SSA payment is where using ACH would put a "little bit" more baht into your Bangkok Bank acct; below $1,125 IDD would put more. But of course if using a Bangkok Bank bank acct for your ACH US govt reoccurring payment like SSA pension it will be a special restricted acct, whereas, US govt payment via IDD can go into any Thai bank regular unrestricted acct. ACH and IDD Direct Deposit Cost Comparison -
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Joe Manchin seems to think Kamala Harris is just as much a threat as Donald Trump
Wow! Just the kind of folk some Thais want to attract to living in Thailand. Wealthy enough to live anywhere, even in the Caymans and you chose Thailand … -
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Why aren't bus seats made from flame retardant material?
Inflammable? You want them to burn easily? You're right, that's not difficult. -
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Banana waste
A banana tree can be a quite big, finding a chipper that would chop them, most chippers are self-feeding, the plant/branch go's in between two rollers that are spring mounted and will open as the tree/branch is feed in ,if the tree branch is to big it will not feed in ( you could take the spring out make feeing easier), banana trees are soft easy to chop, could you cut the bigger ones down the middle? ,they would then fit in a chipper blockage should not be a problem. For chippers try patipong.com, they are in Pathum Thani north of Bangkok, they is/was videos of their chippers . Also look at past posts on chipper shredders on AV. -
41
Documentary explores war crimes being posted on social media.
Yes , I deny the claims that Israel took hostages and that Palestinians got raped by dogs at the instructions of the IDF . Can you prove me wrong ? I deny the false allegations -
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Why aren't bus seats made from flame retardant material?
"...the retardants that sign off on it..." No substances that make the progress or growth of something slower are able to sign anything. -
106
Thailand's Cashless Leap: Ahead of the Asean Pack by 2028
Online payment. It always comes with extra cost(=fee; on top of the price of goods/services itself). That's what I really hate about. When I buy something at B30-, will have to pay 5-7B in addition to its retail price. And it can add up to quite an amount in a long time. It is amazing a lot of people(espeicially the poor ones) never look at that issue: They are wasting the part of their hard-earned money to the institutionalized rip-off that only benefits online payment corporations. That's why I always stick to cash payment as much as possible. The hidden cost of Cashless Payment. It reminds me of a couple of old sayings related to money: Take care of the pence, and the pounds will take care of themselves. A food and his money are soon parted. Out of debt, out of danger. About a decade ago, I have heard that almost 20% of the Singaporeans (in their 30s), were in the state of bankruptcy due to their overspending on credit card. I wonder if Thailand is doing any Consumer Education at their primary/secondary schools? -
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Foreign Rider Killed in Early Morning Motorcycle Crash in Jomtien
Plus it looks like it was opposite Workstation where I think there are several late night gaffs. That's a win in the photo. Maybe nearby win station. Maybe Russians. I used to run down there almost every night about that time. Cabin fever drove me out of my apartment. Tragic. -
23
Why aren't bus seats made from flame retardant material?
The bus in question had fully functional exits. -
23
Why aren't bus seats made from flame retardant material?
That may have been the case in the 70s but this bus was completely rebuilt and re-registered in 2018, look at the photos of it and similar buses, that is not a 70s design. -
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Why aren't bus seats made from flame retardant material?
No more so than every other vehicle on the road...they all burn.
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