Only for retired USA expats in CM on SSA deposits.

[jobin]

That's me. Living on my social security deposits which are dumped into my USA bank electronically. From there i transfer to Bangkok Bank NYC, and onto BB here in CM.

All good, except the most recent January 2016 deposit was $5 less than each month in year 2015. So now not $1000, but $995. This will probably continue through the year, but i don't know that.

Have read the govt offers no increase this year due to COLA, (cost of living), inflation, etc but have not read of any reduction in personal deposits.

Has anyone else noticed a slight reduction in their first 2016 SSA deposit? And if anyone knows the reason for this reduction. plz post here. Thnx.

[NancyL]

Do you have a deduction for Medicare Part B? If so, you may be subject to an increase in the cost of your Medicare Part B payments for 2016. This affects high-earning retirees, and is on a graduated scale, based on income:

http://www.forbes.com/sites/ashleaebeling/2015/11/16/its-official-medicare-part-b-premiums-will-rise-16-in-2016-for-some-seniors/#2715e4857a0b56e41b6651f8

[hml367]

I received my annual notification of benefit amount last week. This gives a breakdown.

Some people are also able to get information on the internet. I have never been able to get an account, even when I tried while in the USA a little over a year ago.

[NancyL]

I received my annual notification of benefit amount last week. This gives a breakdown.

Good point, Jobin. Hubby received his last week, too. It should have arrived at whatever address SSA has on file for you.

[hml367]

I received my annual notification of benefit amount last week. This gives a breakdown.

Good point, Jobin. Hubby received his last week, too. It should have arrived at whatever address SSA has on file for you.

Thank you, Sally.

[pdwarf1]

BBL New York charges $5.00 for doing the transfer and then BBL Thailand charges another 200 Baht. I get an sms monthly from BBL when my money arrives and it has always been $5.00 less than what my SSA account says. Been the same for the last 9 years. I have my money direct deposited by SSA to BBL NY for my BBL account here in Thailand a Direct Deposit account.

I know I am not in CM but it has been the case for me in Pattaya and in Isaan where I now reside.

[SpokaneAl]

Do you have a deduction for Medicare Part B? If so, you may be subject to an increase in the cost of your Medicare Part B payments for 2016. This affects high-earning retirees, and is on a graduated scale, based on income:

http://www.forbes.com/sites/ashleaebeling/2015/11/16/its-official-medicare-part-b-premiums-will-rise-16-in-2016-for-some-seniors/#2715e4857a0b56e41b6651f8

For the vast majority of Social Security recipients, by law increased Medicare payments cannot result in a net lowering of current Social Security payments. In that there was no Social Security cost of living increase based on 2015 changes, Medicare payments cannot increase for those who pay those Medicare payments via their Social Security payments. Medicare payments did rise for those who are not yet drawing Social Security because that law does not protect those in that category. Congress did lesson the increase a bit.

Edited January 20, 2016 by SpokaneAl

[mesquite]

I received my annual notification of benefit amount last week. This gives a breakdown.

Good point, Jobin. Hubby received his last week, too. It should have arrived at whatever address SSA has on file for you.

Thank you, Sally.

Sally?

[northernjohn]

Just checked my bank statement. Supposed to be deposited on the third of each month. This time it was deposited according to my bank on the 31st of December. Same amount of money. Will have to wait for the Feb. statement to see if there is a difference.

[pgrahmm]

Anyone elses cycle/dates? Still awaiting this months.....

Most times 15-18 but about every 4 months as late as the 21st....

[bitcoinforever]

this year an increase will come , election year vote dem

[TheKnave]

Just checked my bank statement. Supposed to be deposited on the third of each month. This time it was deposited according to my bank on the 31st of December. Same amount of money. Will have to wait for the Feb. statement to see if there is a difference.

It was deposited on the 31st because the 3rd was a Sunday. Whenever the pay date falls on a weekend, they pay on the last business day before the normal pay day. Since the 1st was the New Year holiday, they paid on the day before, Thursday, Dec.31.

Note that this screws up your incone for 2015, because you actually get 13 payments for that year. In most cases, this is meaningless, but for people with means-tested insurance, or other benefits, some adjustment may be necessary.

[connda]

I received my annual notification of benefit amount last week. This gives a breakdown.

Some people are also able to get information on the internet. I have never been able to get an account, even when I tried while in the USA a little over a year ago.

I received my annual COLA notification and yearly SSA-1099 yesterday. No increase, no decrease. I think NancyL may have the correct idea if you are a Medicare B payer in the upper tax bracket. If not, you may want to contact SSA.

Edited January 21, 2016 by connda

[gyrosman]

Dude, the baht is over 36, be lucky your not Canadian or Australia. You should of had a higher paying job.

[chicowoodduck]

1000 USD in SS payments...what you retire at age 12......not much for the kitty kitty fund...?

[mascarabertha]

this year an increase will come , election year vote dem

wouldn't vote democrat if it meant losing my entire ss benefits

[carken]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

Edited January 21, 2016 by carken

[tyznd]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

Does any length of military service qualify you for membership or do you have to be retired? Also, exactly what type of card did they issue you and can you use it to make online purchases with and do you get hit with any foreign transaction fee?

[ableguy]

SS will deposit your check direct to your bank account at Bangkok bank in Thailand, you do not have to transfer it it to BKB in New York, I have been doing this for six years,

I use the New York branch for a private pension who will only deposit my check in the USA and they BKB automatically forward it to my bank here.

I should add I signed up for this at the head office branch in Bangkok. However my branch here in Korat say it can be done at any larger branch i.e. Forget the small ones in a mall or big c.

[ableguy]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

Does any length of military service qualify you for membership or do you have to be retired? Also, exactly what type of card did they issue you and can you use it to make online purchases with and do you get hit with any foreign transaction fee?

[ableguy]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

Does any length of military service qualify you for membership or do you have to be retired? Also, exactly what type of card did they issue you and can you use it to make online purchases with and do you get hit with any foreign transaction fee?

My SS goes direct to BBk Thailand, I have a BBK ATM card and a BBK credit card.

[TheAppletons]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

USAA is ending non-U.S. ATM fee rebates effective 1 March 2016.

http://www.thaivisa.com/forum/topic/884393-usaa-ending-non-us-atm-fee-rebates/

[skatewash]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

USAA is ending non-U.S. ATM fee rebates effective 1 March 2016.

http://www.thaivisa.com/forum/topic/884393-usaa-ending-non-us-atm-fee-rebates/

I guess this will leave Schwab as the last remaining US financial institution to reimburse ATM fees worldwide?

http://www.schwab.com/public/schwab/banking_lending/checking_account

Edited January 21, 2016 by skatewash

[ThaiTony2]

1000 USD in SS payments...what you retire at age 12......not much for the kitty kitty fund...?

For the life of me I cannot understand why you would want to ridicule someone. There many be personal reasons for his SS amount for which I don't see where you have any right to smear him. Don't be such a jerk!

[Tracyb]

BBL New York charges $5.00 for doing the transfer and then BBL Thailand charges another 200 Baht. I get an sms monthly from BBL when my money arrives and it has always been $5.00 less than what my SSA account says. Been the same for the last 9 years. I have my money direct deposited by SSA to BBL NY for my BBL account here in Thailand a Direct Deposit account.

I know I am not in CM but it has been the case for me in Pattaya and in Isaan where I now reside.

Edited January 21, 2016 by Tracyb

[Tracyb]

1000 USD in SS payments...what you retire at age 12......not much for the kitty kitty fund...?

For the life of me I cannot understand why you would want to ridicule someone. There many be personal reasons for his SS amount for which I don't see where you have any right to smear him. Don't be such a jerk!

Ditto.

[ThaiTony2]

To the OP question: no slight decrease received for first 2016 payment. Keep in mind that the currency fluxuates each month due to the U.S. dollar/ Thai baht.

Note: you do not have to go thru the Bangkok Bank in NYC., they have a small fee. SS Administration can do a direct deposit into your Thai Bangkok bank account without that fee that you're paying.

Contact SS Admin in Phillipines they are responsible for SS throughout Southeast Asia.

Good luck!

[ThaiTony2]

Do you have a deduction for Medicare Part B? If so, you may be subject to an increase in the cost of your Medicare Part B payments for 2016. This affects high-earning retirees, and is on a graduated scale, based on income:

http://www.forbes.com/sites/ashleaebeling/2015/11/16/its-official-medicare-part-b-premiums-will-rise-16-in-2016-for-some-seniors/#2715e4857a0b56e41b6651f8

Please educate me... I thought Medicare eligibility does not apply if you're living abroad such as in Thailand. I thought that Medicare is eventually non existent if you're not living within America.

[ThaiTony2]

I didn't go the Direct Deposit (DD) route with BB NY / BB Thailand because the SS recipieant must go to BB Thailand in person to withdraw any amount of funds. U cannot use Thai ATM to withdraw funds and wife or friend cannot take your card inside bank to withdraw any funds, only U, in person can get funds from BB Thailand, to me that sucks. What if U get sick or layed up in bed or hospital for any reason? ... U now have a problem. Also I didn't like paying any fund transfer fees either. Also all Thai ATMs charge a fee. Used to be 150B then 180B now 200B for every transaction. I found probably the only bank in USA that refunds or "rebates" Thai bank ATM fee up to $15 every month. Because of ATM 20,000B withdraw limit I must use my USA ATM card 3 times per month. That's 600B or $16.53 USD for Thai bank ATM fees at current exchange rate. My USA bank gives or "rebates" me back $15 USD, so it only costs me $1.53 USD a month to get SS funds. As far as I know that is the cheapest one can find to get monthly SS funds from USA to Thailand instantly via ATM after SS deposit in USA bank

My USA bank also allows me to use my Thai address as my home address for bank business. When current ATM card is about to expire they automatically mail my new ATM card to Thailand. It always arrives B 4 old ATM card expires. Also any paper (snail mail) docs come directly to my Thai address. Never any hassles with the bank. I also a few times have miscalculated the currency exchange rate (damn thing keeps changing) and overdrew my funds (account in red a few bucks) the bank never got on my case about it nor slapped me with some ridiculous $30 or $50 overdraft charge. This is the best bank I have ever in my life done business with. They also have great loan, tax, finance etc depts. I joined this bank after moving to Thailand. Anyone can set up an account via the internet ... There is NO monthly fee for the account ... this 2 good 2 B true bank is USAA Bank in Texas ... U R welcome

Does any length of military service qualify you for membership or do you have to be retired? Also, exactly what type of card did they issue you and can you use it to make online purchases with and do you get hit with any foreign transaction fee?

My SS goes direct to BBk Thailand, I have a BBK ATM card and a BBK credit card.

Please explain how you have an ATM card associated with your Bangkok bank SS account?

It is my opinion that this is untrue. SS specifically states that you must personally visit your bank to do any transaction and that means no ATM card for the SS account.

I would be very much interested to know how you are able to have N ATM card for this account as you claim.

Thank you in advance.

[rapom]

Just checked my bank statement. Supposed to be deposited on the third of each month. This time it was deposited according to my bank on the 31st of December. Same amount of money. Will have to wait for the Feb. statement to see if there is a difference.

It was deposited on the 31st because the 3rd was a Sunday. Whenever the pay date falls on a weekend, they pay on the last business day before the normal pay day. Since the 1st was the New Year holiday, they paid on the day before, Thursday, Dec.31.

Note that this screws up your incone for 2015, because you actually get 13 payments for that year. In most cases, this is meaningless, but for people with means-tested insurance, or other benefits, some adjustment may be necessary.

This is not totally correct. Prior to May 1, 1997 this would be true. But all retirees who started claiming benefits after this date, have their pay dates, on either the 2nd, 3rd or 4th Wednesday of the month. Birthday on the 1st thru the 10th - 2nd Weds, 11th thru 20th - 3rd Weds, 20th to end of month 4th Weds.