Social Security direct deposit to Bangkok Bank

[Pimay1]

I'm trying to get my social security benefits direct deposited in the Bangkok Bank. The SS office in Manila is requiring a nine digit routing number. I spoke with the bank reps in Bangkok and they said they only have a SWIFT code. I see on the Net there is a nine digit routing number for Bangkok Bank in New York. Does anyone know if this is the required number by Social Security?

[lopburi3]

Yes that is the routing number to use and then your normal account number here in Thailand (which must be set up for direct deposit - only your name and no access except by visit to bank). The money is a domestic ACH transfer in the US to Bangkok Bank New York - and from account number they forward to your account in Thailand.

[Pimay1]

Yes that is the routing number to use and then your normal account number here in Thailand (which must be set up for direct deposit - only your name and no access except by visit to bank). The money is a domestic ACH transfer in the US to Bangkok Bank New York - and from account number they forward to your account in Thailand.

Thanks for the timely information. I have opened the direct deposit account here so I should be good to go. BTW the folks at the bank here said I could transfer the money on line from my direct deposit account to another account (Bangkok Bank) then I could use my ATM card. They would not issue an ATM card on the direct deposit account but I did set up internet banking on it.

I sent the routing number to Manila SS office after your post and they replied saying the transaction has been completed and hopefully by next month the deposit will be made in the Bangkok Bank.

[lopburi3]

Perhaps they have changed policy but believe previously they would not allow internet banking - it is to protect themselves as any withdrawal of funds paid after your death they are responsible for repayment to SS.

[IMA_FARANG]

When I retired in 2010, I originally had my monthly Social Security pension sent by direct deposit to my U.S. Bank.

In November 2014 I had that changed to a monthly direct deposit to my Bangkok Bank account in Bangkok.

In can be done but you will need to fill out a Social Security form to change your direct deposit from your U.S. bank to your Bangkok Bank account in Thailand.

It can be done, but it took me 3 months to get the change done.

First you need to change your Social Security mailing address to your Thai mailing address.

Then there is a Social Security form you, Bangkok Bank, and the Social Security office in Manila must fill out.

The main Bangkok Bank office in Silom Road, Bangkok can help you filling out this form.

The office you want is up on the 2nd floor of the Bangkok Bank head office on Silom Road.

They will help you on filling out that from.

There is no local Social Security office in Thailand. Social Security business is handled for Thailand retirees out of Manila in the Philippines.

The correct Social Security office for Thailand area is in the U.S. embassy in Manila.

As I said before, it took me 3 months to get this process set up....but since November 2013 it has been working and I receive my Social Security each month on the 4t of each month direct deposit to my Bangkok Bank account.

The Social Security office in manila was most helpful to me in getting it all set up.

Once the process is set up, you will be notified by Social Security at your Thai mailing address when your direct deposit benefits will start to your Bangkok Bank account.

You will receive your pension out of the Social Security international operations in Baltimore each month.

It can be done, but does require a bit of paperwork to get it started.

Once it is working, however, it is a gem.

[ubonjoe]

Yes that is the routing number to use and then your normal account number here in Thailand (which must be set up for direct deposit - only your name and no access except by visit to bank). The money is a domestic ACH transfer in the US to Bangkok Bank New York - and from account number they forward to your account in Thailand.

Thanks for the timely information. I have opened the direct deposit account here so I should be good to go. BTW the folks at the bank here said I could transfer the money on line from my direct deposit account to another account (Bangkok Bank) then I could use my ATM card. They would not issue an ATM card on the direct deposit account but I did set up internet banking on it.

I sent the routing number to Manila SS office after your post and they replied saying the transaction has been completed and hopefully by next month the deposit will be made in the Bangkok Bank.

You have to go to the bank to transfer it to another account. I have a direct deposit account and make one trip every month to do it.

You can can arrange to get a SMS to be sent to you when it comes in.

[NiwPix]

Hmmm, are you sure about this? We have a similar setup and seems a bit easier.

We still have an account in the US where my dad gets his social security transferred. From there we can wire the money to his Bangkok Bank US Dollar account ( in New York ). A couple days later it is posted to his Dollar account with bangkok bank ( which is accessible online ).

When logging in to the Bangkok Banks iBanking, all accounts he has with them are visible. From there ( online iBanking ) he can transfer x Dollars into Baht to his Thai account. It is immediately available ( assuming it is withing business hours ). He can then take his ATM and withdraw the money.

It was a bit of a hassle to get the foreign currency accounts setup to iBanking, but after 3 tries and 4 months, it is all setup and easy to use.

By the way, you also get a better rate by transferring your foreign currency online to your Baht account than using foreign cash and going into a bank and transferring it to Baht.

[chuckd]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

[Fookhaht]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

When did this take place?

[chuckd]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

When did this take place?

I'm guessing now, but probably some where around 2005.

[Tywais]

Inflammatory post and replies removed.

[Fookhaht]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

When did this take place?

I'm guessing now, but probably some where around 2005.

I'm going through the process right now, and things are a little different 11 years later.

Manila is a mandatory part of the loop, and they (Manila office) even have to interview you by phone now.

[lopburi3]

Hmmm, are you sure about this? We have a similar setup and seems a bit easier.

We still have an account in the US where my dad gets his social security transferred. From there we can wire the money to his Bangkok Bank US Dollar account ( in New York ). A couple days later it is posted to his Dollar account with bangkok bank ( which is accessible online ).

When logging in to the Bangkok Banks iBanking, all accounts he has with them are visible. From there ( online iBanking ) he can transfer x Dollars into Baht to his Thai account. It is immediately available ( assuming it is withing business hours ). He can then take his ATM and withdraw the money.

It was a bit of a hassle to get the foreign currency accounts setup to iBanking, but after 3 tries and 4 months, it is all setup and easy to use.

By the way, you also get a better rate by transferring your foreign currency online to your Baht account than using foreign cash and going into a bank and transferring it to Baht.

If you have a US account there would not be any need for a Bangkok Bank Dollar account - any Bangkok Bank account can be direct deposited to via ACH domestic transfer using Bangkok Bank New York routing number - in most cases this is a free service and you can do at any time. Direct deposit eliminates the need for a US account - but for most is less flexible as you do not have online access or easy payment of US bills.

[ubonjoe]

Hmmm, are you sure about this? We have a similar setup and seems a bit easier.

We still have an account in the US where my dad gets his social security transferred. From there we can wire the money to his Bangkok Bank US Dollar account ( in New York ). A couple days later it is posted to his Dollar account with bangkok bank ( which is accessible online ).

When logging in to the Bangkok Banks iBanking, all accounts he has with them are visible. From there ( online iBanking ) he can transfer x Dollars into Baht to his Thai account. It is immediately available ( assuming it is withing business hours ). He can then take his ATM and withdraw the money.

It was a bit of a hassle to get the foreign currency accounts setup to iBanking, but after 3 tries and 4 months, it is all setup and easy to use.

By the way, you also get a better rate by transferring your foreign currency online to your Baht account than using foreign cash and going into a bank and transferring it to Baht.

It not the same since the social security payment goes into a US bank first. The special direct account is to have the SSA send the payment directly to Bangkok Bank in New York.

I have the direct deposit account on internet banking but cannot do anything other than see the balance or transfer into it online

[ubonjoe]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

When did this take place?

When I did it in 2012 they took care of everything. But they scanned the direct depot form and emailed it directly to Manila.

[TallGuyJohninBKK]

I'm a bit confused here.

The well-established method of getting a SS payment to Thailand is to have SS deposit it to BKK Bank's New York branch, and then it is automatically forwarded to your BKK Bank Thailand account. That's where you use the 9 digit ABA/routing number that BKK Bank New York has (unlike other Thai banks).

But Ima-Farang above seemed to be talking about a different method where you can arrange to have the SS payment deposited directly to your BKK Bank branch account, without having to go thru the New York branch. I'm not sure, but it seems that all the subsequent posters were commenting on the New York method, and not the direct to Thailand method Ima-Farang was discussing.

So, does anyone else here have any experience with the direct to Thailand method that Ima-Farang discussed?

In November 2014 I had that changed to a monthly direct deposit to my Bangkok Bank account in Bangkok.

In can be done but you will need to fill out a Social Security form to change your direct deposit from your U.S. bank to your Bangkok Bank account in Thailand.

It can be done, but it took me 3 months to get the change done.

First you need to change your Social Security mailing address to your Thai mailing address.

Then there is a Social Security form you, Bangkok Bank, and the Social Security office in Manila must fill out.

[ubonjoe]

I'm a bit confused here.

The well-established method of getting a SS payment to Thailand is to have SS deposit it to BKK Bank's New York branch, and then it is automatically forwarded to your BKK Bank Thailand account. That's where you use the 9 digit ABA/routing number that BKK Bank New York has (unlike other Thai banks).

But Ima-Farang above seemed to be talking about a different method where you can arrange to have the SS payment deposited directly to your BKK Bank branch account, without having to go thru the New York branch. I'm not sure, but it seems that all the subsequent posters were commenting on the New York method, and not the direct to Thailand method Ima-Farang was discussing.

So, does anyone else here have any experience with the direct to Thailand method that Ima-Farang discussed?

In November 2014 I had that changed to a monthly direct deposit to my Bangkok Bank account in Bangkok.

In can be done but you will need to fill out a Social Security form to change your direct deposit from your U.S. bank to your Bangkok Bank account in Thailand.

It can be done, but it took me 3 months to get the change done.

First you need to change your Social Security mailing address to your Thai mailing address.

Then there is a Social Security form you, Bangkok Bank, and the Social Security office in Manila must fill out.

His post was a little confusing. But you read it closely ti was done done through NY.

[chuckd]

Bangkok Bank handled everything for me when I signed up. I opened the account in Pattaya Klang branch and they took care of everything. They sent it to BKK Bank iheadquarters who then delivered the forms to the US Embassy who sent it out by courier.

I never did interface with Manilla.

Be sure you sign up for their SMS service. My experience is the system works great.

When did this take place?

I'm guessing now, but probably some where around 2005.

I'm going through the process right now, and things are a little different 11 years later.

Manila is a mandatory part of the loop, and they (Manila office) even have to interview you by phone now.

Interesting, thanks for correcting me.

I did go through Manilla when applying originally for my benefits but did not go through them when opening the Bangkok Bank direct deposit account.

That was all handled by the bank and the embassy.

[NiwPix]

Hmmm, are you sure about this? We have a similar setup and seems a bit easier.

We still have an account in the US where my dad gets his social security transferred. From there we can wire the money to his Bangkok Bank US Dollar account ( in New York ). A couple days later it is posted to his Dollar account with bangkok bank ( which is accessible online ).

When logging in to the Bangkok Banks iBanking, all accounts he has with them are visible. From there ( online iBanking ) he can transfer x Dollars into Baht to his Thai account. It is immediately available ( assuming it is withing business hours ). He can then take his ATM and withdraw the money.

It was a bit of a hassle to get the foreign currency accounts setup to iBanking, but after 3 tries and 4 months, it is all setup and easy to use.

By the way, you also get a better rate by transferring your foreign currency online to your Baht account than using foreign cash and going into a bank and transferring it to Baht.

It not the same since the social security payment goes into a US bank first. The special direct account is to have the SSA send the payment directly to Bangkok Bank in New York.

I have the direct deposit account on internet banking but cannot do anything other than see the balance or transfer into it online

When you say you have a direct deposit account....is that a dollar account where SS deposits the money in dollars and is posted to that account in Dollars until you take further action?

If that is the case it would be a FCDA ( Foreign Currency Deposit Account ) and if you have it setup with your online banking account, you should be able to transfer the dollars to your baht account online without the need to visit a bank ( assuming both accounts are under the same iBanking login ).

To do the transfer all you need to do after logging in: In the top menu bar go to "transfers", then on the left hand side menu bar select "New FCD Transfer". From there the rest is self explanatory.

[ubonjoe]

Hmmm, are you sure about this? We have a similar setup and seems a bit easier.

We still have an account in the US where my dad gets his social security transferred. From there we can wire the money to his Bangkok Bank US Dollar account ( in New York ). A couple days later it is posted to his Dollar account with bangkok bank ( which is accessible online ).

When logging in to the Bangkok Banks iBanking, all accounts he has with them are visible. From there ( online iBanking ) he can transfer x Dollars into Baht to his Thai account. It is immediately available ( assuming it is withing business hours ). He can then take his ATM and withdraw the money.

It was a bit of a hassle to get the foreign currency accounts setup to iBanking, but after 3 tries and 4 months, it is all setup and easy to use.

By the way, you also get a better rate by transferring your foreign currency online to your Baht account than using foreign cash and going into a bank and transferring it to Baht.

It not the same since the social security payment goes into a US bank first. The special direct account is to have the SSA send the payment directly to Bangkok Bank in New York.

I have the direct deposit account on internet banking but cannot do anything other than see the balance or transfer into it online

When you say you have a direct deposit account....is that a dollar account where SS deposits the money in dollars and is posted to that account in Dollars until you take further action?

If that is the case it would be a FCDA ( Foreign Currency Deposit Account ) and if you have it setup with your online banking account, you should be able to transfer the dollars to your baht account online without the need to visit a bank ( assuming both accounts are under the same iBanking login ).

To do the transfer all you need to do after logging in: In the top menu bar go to "transfers", then on the left hand side menu bar select "New FCD Transfer". From there the rest is self explanatory.

The direct deposit account is not a foreign currency account. It is basically a standard savings account with special provisions that requires withdrawals and/or transfers to be done in person.

You can find info about it here. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

[NiwPix]

I am trying to understand what the benefits are of having a direct deposit account opposed to a foreign currency deposit account ( dollar )...and can only come up with that it is basically the same ( when comparing receiving funds / ss from overseas ) EXCEPT for the fact that with the FCD you can setup online banking and easily transfer the money from dollars to Baht via iBanking.

You should be able to receive the ss dollar funds directly to your fcd account. It definitely works that way with ss in Euro.

[ubonjoe]

I am trying to understand what the benefits are of having a direct deposit account opposed to a foreign currency deposit account ( dollar )...and can only come up with that it is basically the same ( when comparing receiving funds / ss from overseas ) EXCEPT for the fact that with the FCD you can setup online banking and easily transfer the money from dollars to Baht via iBanking.

You should be able to receive the ss dollar funds directly to your fcd account. It definitely works that way with ss in Euro.

The only type of account you can have payments from social security payments paid directly into is the direct deposit account. Having a direct deposit arrangement means that there is no need for a US bank account for the funds to go into before being transferred to here. It can save a good deal of money for transfer and other banking fees paid to a US bank to get the funds here.

[Pimay1]

I am trying to understand what the benefits are of having a direct deposit account opposed to a foreign currency deposit account ( dollar )...and can only come up with that it is basically the same ( when comparing receiving funds / ss from overseas ) EXCEPT for the fact that with the FCD you can setup online banking and easily transfer the money from dollars to Baht via iBanking.

You should be able to receive the ss dollar funds directly to your fcd account. It definitely works that way with ss in Euro.

The only type of account you can have payments from social security payments paid directly into is the direct deposit account. Having a direct deposit arrangement means that there is no need for a US bank account for the funds to go into before being transferred to here. It can save a good deal of money for transfer and other banking fees paid to a US bank to get the funds here.

You're correct. It will save me 70.00 USD a month on transfer fees.

[daboyz1]

Not to hijack the thread, but I transfer money to my Bangkok Bank account quite a bit using the New York ACH method. I've even took it a step further since my bank (Bank of America) charges $35 for smae day ACH, $10 for 2 day ACH and $3 for 3 day ACH. I set up two gmail email addresses and I tied email A to my Bank of America account, and email B to my Bangkok Bank account using the ACH/US routing number. I simply fund email A (takes about 3 minutes) from my Bank of America and then send an email using Google Wallet to email B. I then deposit the money from email B to the already configured Bangkok Bank ACH/routing number and account number. It usually takes about 2 business days total and it's completely free on the US side. BKK Bank still dings you the standard fee, minimum 200THB/.25%/maximum 500 THB. Haven't figured a way around that yet. The once the money is in Thailand, I can transfer it to my Thai brokerage account, other BKK bank accounts etc. etc. all online.

[TallGuyJohninBKK]

The direct deposit account is not a foreign currency account. It is basically a standard savings account with special provisions that requires withdrawals and/or transfers to be done in person.

You can find info about it here. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

In reading thru the instructions on the BKK Bank website linked above, it's pretty clear that the ONLY way they'll accept the direct deposit of federal pensions like Social Security is for those funds to be routed through the bank's New York branch using its 9-digit ABA/routing number. I saw nothing that would allow BKK Bank to receive those funds direct from the federal government without going thru the bank's NY branch.

[willyumiii]

It sounds correct to me.

My SS payments are deposited in the New Your branch of Bangkok Bank and I have no problem accessing my money from branches in Thailand.

Your local branch of the bank should be aware of this.

If I recall, they had specific forms to be filled out to do exactly this.

[lopburi3]

The money is transferred using the ABA number into the Thai based account number. For federal payments the requirement is that the account in Thailand is set up for only in person access. For normal ACH transfers you can deposit into any Thai based Bangkok Bank account. The accounts are in Thailand - Bangkok Bank New York just acts as the transfer point.