Can I connect my American Bank Accounts to my Thai KTB Account?

[ev1lchris]

Is there a way I can set up transferring money from my United States bank accounts to my Thai KTB account?

[TallGuyJohninBKK]

You can do, and pay for, an international wire transfer from your U.S. bank to any Thai bank.

But, if you mean some kind of ACH transfer like done in the U.S. via online banking, not that I'm aware of to KTB.

BKK Bank has that facility, because they have a U.S. based ABA routing number that can be used. But I'm not aware of any other Thai banks that have, or that allow to be used, the same.

[lopburi3]

As said you would use SWIFT transfer - only Bangkok Bank offers domestic ACH transfers to Thailand accounts.

[benalibina]

If I am not mistaken....this seems to be the bank mentioned in the Justice for Jessie fb page to probably have its license withdrawn due to money laundering a.o.

[Pinot]

No is the answer and you don't want them connected.

Open a Charles Schwab International account. All ATM charges are reimbursed. Transfers are easy when necessary. Look for more info on Charles Schwab on TV. You'll find it endorsed extensively here.

[Rabbi]

I am not certain about the USA but I regularly transfer electronically to & from my Australian Bank and my KTB account then from KTB to basically any bank or branch in Thailand.

The cost within KTB is generally free but to other Thai banks around 20/30 THB

I have found when transferring from Australia I get a better Forex rate if I send in AUD and let KTB do the conversion and I pay a flat $20 to my Aussie bank and I think KTB charges me 30THB It takes 24 hours providing I meet the Australian cutoff times [1pm Thai time]. Occasionally if I do it earlier enough it is same day

Western Union cost are significantly higher [1500 Bht] and you never get a good Forex rate.

I do not believe that KTB is part of any Money Laundering as insinuated by another TV member.

[akentryan]

I go on-line and use my Chase checking account in the USA to transfer money to my account at Bangkok Bank. Works like a charm with money arrriving in 3 to 5 days. Fees are minor but the exchange rate is never all that great.

[csabo]

I go on-line and use my Chase checking account in the USA to transfer money to my account at Bangkok Bank. Works like a charm with money arrriving in 3 to 5 days. Fees are minor but the exchange rate is never all that great.

Chase charges $40 for an international wire. Not "minor" and one of the highest in the US. To get the best of that fee transfer $9999 to avoid IRS flags.

As far as the Schwab referral that is only good for getting cash not for many other types of in country banking and Schwab will not open an account while overseas (a VPN may get you around this)

The OP question was asked and answered correctly. A swift transfer for a fee can be done from the US to KTB. Takes a few days. Always transfer in USD not Thai Baht. Sign up for Thai bank SMS alerts while here. I get a text from my Thai banks while standing at an ATM prior to the money coming out of the machine. Any fraud will be immediately detected.

[lopburi3]

If transfers are taking 3-5 days using Chase I would hope it is not SWIFT - that should be in hours. He likely transfers using domestic ACH transfer (don't know about Chase but at USAA that is free) so the only cost is Bangkok Bank NY and the .25% in Bangkok taken from baht in range 200-500 baht. You receive the full TT exchange rate if conversion is done in Thailand (should always send USD).

[stevew407]

How and where does on get the Bank of Bangkok NY Branch account and routing number? Tie to the local Pattaya account? And then what is the Justice for Jessie Facebook, story, connection and links?

[lopburi3]

Bangkok Bank's New York branch (026008691)

Bangkok Bank personal local account number

Bangkok Bank's New York branch: 29 Broadway, 19th Fl, New York, New York 10006 United States, Tel: (1-212) 422-8200

Use above information when making ACH transfer - you use your local account number - just route it using the New York number/address.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

[Searat7]

Before I used Bangkok Bank in New York but then I opened FX dollar account at Bangkok Bank Headquarters. I pay my bank in USA $10 to transfer up to $10,000 at a time by ACH (arranged on internet) and receive the money in Bangkok about 2 days later for a very reasonable fee at BB. This way I can change dollars to baht on internet when I see a good rate or have a need.

[TallGuyJohninBKK]

Before I used Bangkok Bank in New York but then I opened FX dollar account at Bangkok Bank Headquarters. I pay my bank in USA $10 to transfer up to $10,000 at a time by ACH (arranged on internet) and receive the money in Bangkok about 2 days later for a very reasonable fee at BB. This way I can change dollars to baht on internet when I see a good rate or have a need.

It sounds from your post that you're doing the regular U.S. account ACH to BKK Bank New York and then onward to your local BKK Bank funds transfer -- which is not a traditional wire transfer, but rather, an internal transfer using BKK Bank's own routing.

Normally when you send money from the U.S. using that method, BKK Bank automatically converts dollars to baht when your funds arrive here in Thailand before they go into your Thai baht account with them. But in your case, are you saying your dollars are being put into a U.S. $ denominated BKK Bank foreign currency account?

If your U.S. bank is doing an ACH transfer as you say, then the only recipient destination they can be sending the funds to is another U.S. based entity with an ABA routing number, such as BKK Bank has. U.S. banks can't do an ACH of funds direct to foreign banks outside the U.S., AFAIK.

[MANFROMBOCA]

I go on-line and use my Chase checking account in the USA to transfer money to my account at Bangkok Bank. Works like a charm with money arrriving in 3 to 5 days. Fees are minor but the exchange rate is never all that great.

Chase charges $40 for an international wire. Not "minor" and one of the highest in the US. To get the best of that fee transfer $9999 to avoid IRS flags.

As far as the Schwab referral that is only good for getting cash not for many other types of in country banking and Schwab will not open an account while overseas (a VPN may get you around this)

The OP question was asked and answered correctly. A swift transfer for a fee can be done from the US to KTB. Takes a few days. Always transfer in USD not Thai Baht. Sign up for Thai bank SMS alerts while here. I get a text from my Thai banks while standing at an ATM prior to the money coming out of the machine. Any fraud will be immediately detected.

IRS doesnt flag wire transfers only cash deposits,,, and you can open a schwab account from here as long as you have an US address and phone number (i did this last month) the last part "The OP question ,,,,......etc....is correct,,the only problem you might run into is if you use a local regional bank only that doesnt allow foreign wire transfers by phone or internet i.e.Suntrust Bank. also with schwab you can set up a brokerage account and transfer here with just a phone call,as with most any other large brokerage house

[Si Thea01]

Don't know how it works in the good old US of A but I have accounts in OZ and use internet banking. I have two accounts in Thailand, one in BKK the other in the province where I live. Both KTB accounts. when I send funds, I do so in AU$ as I get a better exchange rate. It costs $20, whether I send $1.00 or 10,000. I do the payment at the latest, 9.30pm Thai time and this arrives in my account the next day, before midday.

Unfortunately, my bank has no direct association with KTB and the funds have to go through Citibank, who do the exchange, so they get a little chop out of what I send but the amount received is still a lot better than Forex, who charge like the proverbial, wounded bull. This way I can send funds no matter where I am in Thailand, and have had only one hiccup in 10 years. I also have a security email sent to my mobile with a number I have to enter prior to the transfer and then I receive an email from KTB when the funds are deposited so it is very safe. The only thing I need is my bank account number and the bank's swift number and everything travels smoothly.

Edited July 14, 2015 by Si Thea01

[mrfaroukh]

You can get the best answer if you ask your bank in the USA. But probably you can do it in a way make a fixed transfer option in your bank. For example on the 15th of every month or alternative month etc so much amount of money should be transfer to you account in Thailand. Just remember you have to pay transfer fee every time.

[slipperylobster]

You can use a currency exchange service..such as XE...to convert to baht and wire to your bank.

The charge from your bank..to xe..is free. But the wire of the newly purchased baht from xe to a thai bank is 20 usd.

You can lock in a rate....and you could end up better or worse....as the process takes 7 to 10 days.

It just averages out for me. I get a better rate than the ATM's....and I send 3 months worth at a time.

(saving a huge amount...atm's were sucking me dry. 12 atm withdrawals total 120 dollars...vice 21 usd.

and better rates.

Edited July 14, 2015 by slipperylobster

[csabo]

I go on-line and use my Chase checking account in the USA to transfer money to my account at Bangkok Bank. Works like a charm with money arrriving in 3 to 5 days. Fees are minor but the exchange rate is never all that great.

Chase charges $40 for an international wire. Not "minor" and one of the highest in the US. To get the best of that fee transfer $9999 to avoid IRS flags.

As far as the Schwab referral that is only good for getting cash not for many other types of in country banking and Schwab will not open an account while overseas (a VPN may get you around this)

The OP question was asked and answered correctly. A swift transfer for a fee can be done from the US to KTB. Takes a few days. Always transfer in USD not Thai Baht. Sign up for Thai bank SMS alerts while here. I get a text from my Thai banks while standing at an ATM prior to the money coming out of the machine. Any fraud will be immediately detected.

IRS doesnt flag wire transfers only cash deposits,,, and you can open a schwab account from here as long as you have an US address and phone number (i did this last month) the last part "The OP question ,,,,......etc....is correct,,the only problem you might run into is if you use a local regional bank only that doesnt allow foreign wire transfers by phone or internet i.e.Suntrust Bank. also with schwab you can set up a brokerage account and transfer here with just a phone call,as with most any other large brokerage house

And will Schwab mail your ATM card to an address in Thailand? Many banks will not. If not opening an account by phone overseas is worthless

[jwdub]

I go on-line and use my Chase checking account in the USA to transfer money to my account at Bangkok Bank. Works like a charm with money arrriving in 3 to 5 days. Fees are minor but the exchange rate is never all that great.

Chase charges $40 for an international wire. Not "minor" and one of the highest in the US. To get the best of that fee transfer $9999 to avoid IRS flags.

As far as the Schwab referral that is only good for getting cash not for many other types of in country banking and Schwab will not open an account while overseas (a VPN may get you around this)

The OP question was asked and answered correctly. A swift transfer for a fee can be done from the US to KTB. Takes a few days. Always transfer in USD not Thai Baht. Sign up for Thai bank SMS alerts while here. I get a text from my Thai banks while standing at an ATM prior to the money coming out of the machine. Any fraud will be immediately detected.

IRS doesnt flag wire transfers only cash deposits,,, and you can open a schwab account from here as long as you have an US address and phone number (i did this last month) the last part "The OP question ,,,,......etc....is correct,,the only problem you might run into is if you use a local regional bank only that doesnt allow foreign wire transfers by phone or internet i.e.Suntrust Bank. also with schwab you can set up a brokerage account and transfer here with just a phone call,as with most any other large brokerage house

And will Schwab mail your ATM card to an address in Thailand? Many banks will not. If not opening an account by phone overseas is worthless

Yes they will. I just received my newest card from them via FedEx 2 weeks ago.

[csabo]

Well to the contrary of your experience, they flagged me as a "violator of the Patriot Act" (their words) and required me to appear in the US to release the lock on my name so apparently it's not so cut and dry. They also said on the phone they will not open an account for overseas travelers while abroad. Luck of the draw when dealing with customer service.

Edited July 23, 2015 by csabo

[TallGuyJohninBKK]

Well to the contrary of your experience, they flagged me as a "violator of the Patriot Act" (their words) and required me to appear in the US to release the lock on my name so apparently it's not so cut and dry. They also said on the phone they will not open an account for overseas travelers while abroad. Luck of the draw when dealing with customer service.

Who's the "they" you are referring to here? Schwab, or some other banking entity?

If your account got frozen, normally, it didn't just happen by chance. Usually, there would have been some kind of activity that would have triggered the freeze. But you don't mention anything about what kind of activity preceded the bank's action...