Fidelity To Siam Commercial

[birdbirdbat]

I have a fidelity investment account in the US and Im wanting to transfer into my Siam commercial account- just got off the phone and was told I can't use the swift code letter but needed a 9 digit NUMBER to a US correspondent bank first ( ABA routing number). Anybody have experience with this? Dose Siam Commerical bank have a Intermediary Bank ABA/Routing Number? Or must I find another US bank to do this?

Thanks-

BBB

[Thaiquila]

Thats a great question. I did know the Fidelity will transfer to a US bank account only, perhaps you have come across another method (though I doubt it).

Just curious, do you have a US address on record with Fidelity, or do they accept your Thai address?

Some brokerage firms make you close your account when you tell them you are moving abroad.

Edited August 14, 2006 by Thaiquila

[birdbirdbat]

Fidelity does not have a problem with being in Thailand- and the transfers seem to be a good rate $15 U.S. I do maintain a ( friends) address in the states thou- I heard that Siam Comm has branches in the states- so Im hoping they have a Intermediary Bank ABA/Routing Number that I can use here- It will make life o' so much easier!! Anybody know it , or have a contact at SCB I can call? THX!

[Thaiquila]

Try this:

The Siam Commercial Bank

One Exchange Plaza,

New York, NY 10006

Tel. 212-344-4101

Please let us know whether this works for you. The routing number they want is for a US transfer. Wouldn't there still have to be a SWIFT transfer to get the money from US to Thailand ... and Fidelity won't do a SWIFT.

I assume your account is a taxable brokerage account, not an IRA, correct?

Edited August 14, 2006 by Thaiquila

[jing jing]

The other thing to look out for is on the paperwork you need to submit to Fidelity it's specifically stated that funds can't be transferred into passbook savings accounts. I discussed the issue with a branch manager and we went ahead and filled in the forms anyway. I use Bangkok Bank, which also has a New York branch, and gave both the ABA number of that branch and the Swift code for my Siam Square BB branch in Thailand.

I still haven't tried to make a transfer from Fidelity yet because I only pay $3.00 to make internet transfers from Bank of America to Bangkok Bank...

[BKK90210]

I will be in thailand in a few months and also have accounts with fidelity.

I just called them and this is what they said....

For international transfer - expat living in thailand - toll free @001-800-544 66666 (five 6s)

Fidelity will do the international money transfer via phone contact only (for security reason), please have the thai bank's swift numbers ready - they said

It will cost you $15

Option 2

Obtain free visa gold check debit card - first 5 ATM withdrawls free each month.

For doing over the net - fidelity can only do money transfer to the account with ABA number only

PS - you can now have an oversea address with Fidelity

[Thaiquila]

Good information, but if they can only do transfer to accounts with ABA number, how can they transfer to a Thai account (which would not have an ABA routing number)?

[Guest endure]

I don't know much about them (I'm from the UK) but a card I have from BKK Bank Chiang Mai has an ABA routing number on it.

[BKK90210]

Good information, but if they can only do transfer to accounts with ABA number, how can they transfer to a Thai account (which would not have an ABA routing number)?

The only way with them with international transfer is by...Over the phone only - with swift number of your thai bank ready

It is for security reason but painless process

Unless you have your thai bank with a branch in the US - then you will have ABA number of that branch...then you can do the transfer via internet

[Thaiquila]

Oh I see now, net vs. phone. Makes sense.

Does Fidelity require a signed wiring agreement done beforehand, as do banks?

[migrant]

I still haven't tried to make a transfer from Fidelity yet because I only pay $3.00 to make internet transfers from Bank of America to Bangkok Bank...

Nice rate! Any special requirements?

[birdbirdbat]

BK : I called them last night and they told a different story:

Fidelity must first transfer the money to a Intermediary Bank WITH A ABA/Routing Number FIRST. Once there, it can move over to international Bank, thats where the SWIFT CODE comes in. You must call them, then fax a "non -retirement redemption form" with all the information on it.

In other-words: it cant go just with a SWIFT number. And the internet was not available, only into a US Bank- Not the SWIFT part of the transfer. that step has to be done via phone & fax.

Cheers BBB

[paperwerks]

I tried to do this with Fidelity about 9 months ago. After having them tell it was no problem, when it came time to pull the trigger they demanded that I get some special document stamp by a USA based bank, and I think Citibank here in BKK could do it. The idea of trying to locate that stamp at Citibank here was too much for me. It was just easier for me to transfer the money online through Fidelity's "Moneywire" to my own bank in the USA and for my own bank to wire directly here to my Thai bank.

My experience was that Fidelity is not a bank and is very difficult to negotiate foreign wire transfers with them.

[Thaiquila]

Paperwerks, that is the kind of thing I would expect from Fidelity.

[birdbirdbat]

Thanks for your posts- after more calls to Fidelity and SCB, I too, have come to that conclusion. You need to use a “real” U.S. Bank first. BBB