Class action lawsuit against Bangkok Bank , New York.

[IMA_FARANG]

I will try to keep this as short aspossible....but there is a lot of information to tell.

To start,yesterday,2 July 2016, I received a letter from Bangkok Bank.

The letter informed me that a Class Action Suit has been filed in New York by an individual named Peter Van Dermark against Bangkok Bank in New York complaining that Bangkok Bank is illegally charging extra fees from customers who are transferring U.S. dollars by direct transfer to Bangkok Bank Thailand accounts.

The letter informs me that as I have a direct deposit account of my pension funds through Bangkok Bank in New York, I am one who has been paying extra transfer fees to Bangkok Bank, New York.

Apparently, I have been paying an extra $5 dollars each month from September 2014,when my direct deposit account was established until May 2016.(last transfer)

This class action lawsuit was filed in August 2015 in court in New York....and is due to be heard before the court for resolution on 24 August 2016 in new York.

Bangkok Bank denies any deliberate deception in charging these unauthorized transfer fees to customers.

They say it was an administrative error by ​Bangkok Bank In New York.

As a proposed settlement for these extra fees I am offered a proposed settlement by Bangkok Bank here in Thailand of a 3 month series of 3 monthly transfers by direct deposit to my Thailand Bangkok Bank account with no transfer fees charged.

This no-fee transfer for 3 months is the resolution proposed by Bangkok Bank Thailand.

The letter states that if I take no further action, I indicate my acceptance of that resolution.

I know that Bangkok Bank is simply attempting to buy me off cheaply from joining the Class Action Suit.....but as I am here in Bangkok, their proposed "resolution" is the best redress I can get.

Comments: This Class Action resolution ONLY applies to Direct Deposit funds transfers from Bangkok Bank in New York to Bangkok Bank in Bangkok.

​The period covered by this Class Action lawsuit is from August 11, 2009 to May 2 2016....direct transfers outside that period are NOT covered by the suit.

Questions:

• Theletter I received was generated on June 22, 2016 by Bangkok Bank in New York, and forwarded to me via Bangkok Bank in Bangkok.
• Has anyone else received a copy of this letter?

Confused?

Edited July 3, 2016 by IMA_FARANG

[IMA_FARANG]

One more question.....does anyone on this forum know who an individual called Peter Van Dermark is?

He is listed as Plaintiff in New York on this Class Action Suit.

[OccamsRazor]

Here is a timeline of it:

https://www.pacermonitor.com/public/case/9040346/Van_Dermark,_et_al_v_Bangkok_Bank_Public_Limited_Company,_New_York_Branch

[ubonjoe]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

[4evermaat]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

Were they legally supposed to charge the fee? Banks will be banks at the end of the day. It's definetely a triple dip:

1. fee for Initiating direct deposit, depending on DD amount
2. exchange rate conversion (although it is TT rate)
3. another 0.25% fee (between 200-500 baht) to receive funds on Thai side.

I would suspect they would just shift the USA fee over to the thai side.

@IMA_FARANG, I think you should hold out for a better deal. If they are in the wrong, 3 months free is inadequate.

Edited July 3, 2016 by 4evermaat

[RKASA]

They are not always frivolous but you would never hear an offer directly from the bank (I would think) you get it from the attorney in change of the class action via the court. If they are opening the case you have the option to be part by doing nothing and have to decline being party to the cause - your details seem odd for this type of case. Offers don't appear until after hearings and include court orders and the first contact which you would have heard from them only covers notice of intent to file class action etc.

Don't provide information about accounts etc if you have received a request for it via court order from the attorney that is on your side not the banks. Besides they can get that information from the bank themselves anyway.

Another case;

In the case of exchange rates with master card visa - I only heard directly from the law office with reference of court orders allowing them to collect information regarding travel dates and fees on card statements in a summary form, and then I received a modification in the method of accounting for loses with option for daily travel rate or actual fees. They also maintained a web site with status of the case - after 5 years I received 2200.00 US dollars in damages based on travel dates which was the higher of the two options - that case covered 450million in wrongful charges to many different people.

Do your home work and know who your talking with and what they want as well as whom they represent - they have to disclose and maintain transparency.

" Peter Van Dermark" cases often are named after the first complaint, but find out the status of the case action and the details.

The fact that they have disclosed the fee and you paid it does not make having charged it legal simply because they duped everyone with the fee - you may be entitled to a 100% refund minus legal fees unless they are also charged the court and legal fees by the court - in the case of master card visa they had to pay back the fees and pay court&legal cost. ouch. something like 650m.

Do some homework on it - if you think the money is worth the time - I spend a total of maybe 6 hours on my side and collected 2200.00 - not a bad deal at all.

[JMWPACIFIC]

Typically, a class action notice comes from the court, plaintiff's law firm or another firm appointed as a clearing house for the court pronouncements. Never from the defendent. Read the document you received carefully and be sure it's not from the court or plaintiff. Usually you are given the choice to be part of or not part of the class.

If BBL was illegally charging fees and the court agrees, the plaintiff and defendent will negotiate. Then reach a settlement which will be presented and accepted by the court and finally presented to you.

I really can't understand why BBL is contacting you directly!! Something's off here.

[JMWPACIFIC]

I googled peter van dermark v. bangkok bank and the only thing that came up was your question on TV. I would think a public record would come up. Are you sure the class action suit has been filed or is BBL getting to you before the lawsuit?

[ubonjoe]

I googled peter van dermark v. bangkok bank and the only thing that came up was your question on TV. I would think a public record would come up. Are you sure the class action suit has been filed or is BBL getting to you before the lawsuit?

Click on this link posted earlier. https://www.pacermon...New_York_Branch

[Pib]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

Yea, the fee has been clearly shown on their website for years for those who wish to look. I've lost count of the number of times I've pointed out the fee to posters (such as the OP) in various posts over the years when they said no fees were applied by Bangkok Bank when setting up a Direct Deposit account or just receiving an ACH transfer into their regular Bangkok Bank account. But still a heck of a lot cheaper than most SWIFT transfers from the U.S. which are usually in the $30 to $50 range "plus" the local Bangkok Bank branch receiving fee identified below.

You have the NY branch sliding scale fee which is generally $5 for amounts from $100.01 to $2,000.00 which is a range many pension payments probably fit into and then the receiving fee on the Thailand Bangkok Bank branch end of 0.25% (Bt200 min, Bt500 max). And actually above fees apply to all ACH payments (i.e., direct deposit, a transfer you manually accomplish from your U.S. bank/financial company, etc) being routed through the Bangkok Bank NY branch (using their ABA/ACH routing number) and on the local branch receiving end.

[ubonjoe]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

Yea, the fee has been clearly shown on their website for years for those who wish to look. I've lost count of the number of times I've pointed out the fee to posters (such as the OP) in various posts over the years when they said no fees were applied by Bangkok Bank when setting up a Direct Deposit account or just receiving an ACH transfer into their regular Bangkok Bank account. But still a heck of a lot cheaper than most SWIFT transfers from the U.S. which are usually in the $30 to $50 range "plus" the local Bangkok Bank branch receiving fee identified below.

You have the NY branch sliding scale fee which is generally $5 for amounts from $100.01 to $2,000.00 which is a range many pension payments probably fit into and then the receiving fee on the Thailand Bangkok Bank branch end of 0.25% (Bt200 min, Bt500 max). And actually above fees apply to all ACH payments (i.e., direct deposit, a transfer you manually accomplish from your U.S. bank/financial company, etc) being routed through the Bangkok Bank NY branch (using their ABA/ACH routing number) and on the local branch receiving end.

I knew about the fees before setting up the account up since I had been on the website to get info about opening the account.

Perhaps the person initiating the lawsuit was a not aware they were taking out the fee for years.

I see evidence the fee is taken out when I get the SMS informing me of the transfer. The amount in dollars is exactly $5 less than my social security payment.

[Pib]

Didn't mean to imply you didn't know about the fee as you did. Just tagging onto your post to point out again to stress to others that their fee has been clearly identified on their website for as long as I can remember.

[gdgbb]

Why don't you post the letter here?

[taxout]

I can't access the documents themselves without paying, but the docket entries strongly suggest that what you have received is the proposed settlement now before the court.

[wayned]

I set up my account in December 2006 since It was required to receive direct deposit of my monthly SSA payments. I was told of the cost then, $5.00 by new York deducted from the deposited amount, no receipt or record provided, and 200 baht deduction by BBl on this end. The 200 baht deduction is documented on the SMS message that I receive when the funds are converted to Thai baht and made available. So in December it will have been 10 years which would amount to $600 (about 21000 baht) by New York and another 24000 baht by BBL here for a total of 45000 baht. That would be 375 baht/transfer or about $10.71. Is there any cheaper way to wire transfer money to Thailand?

I often transfer funds from Thailand to the US, as little as 3000 baht to sometimes over 1.000,000 baht. I do it from Krung Thai Bank and the cost is always the same no matter what the amount is, 1200 baht to Krung Thai Bank (about $34.29) and $20 on the US end (normally Bremer Bank). The 1200 baht is on the transfer receipt but the $20 is automatically deducted on the US end with no record. So the total transfer fee from here cost me about $54.29 each time.

Sounds to me as this guy is "pissing in the wind"!!

[Muzarella]

Post the letter here...and I may believe that's not a scam.

Edited July 5, 2016 by Muzarella

[IMA_FARANG]

I googled peter van dermark v. bangkok bank and the only thing that came up was your question on TV. I would think a public record would come up. Are you sure the class action suit has been filed or is BBL getting to you before the lawsuit?

Click on this link posted earlier. https://www.pacermon...New_York_Branch

---------------------------

ubonjoe;s post referenced here has a lot of good information on this suit.

click on it and read it.

[Pib]

I have a Bangkok Bank Direct Deposit account I opened around 2009 and used it for a few month in receiving my military retirement monthly pension...but stopped that after around 3 months. I sill have the account and it active as I use it occasionally but no longer for the pension payment. I live in Bangkok...have the account at the main Bangkok Bank branch on Silom Rd in Bangkok Bank's headquarters building. As of yesterday I have not received any such letter.

[Berkshire]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

Agree, a rather frivolous lawsuit where it's the class action lawyers who make any money. I just hope that Bangkok Bank doesn't decide to simply eliminate these services due to the potential of future lawsuits.

[Pib]

I have direct deposit set up and have not gotten a letter yet.

The lawsuit seems a bit frivolous to me. I was fully aware of the fee when I set up the account.

It is shown on the Bangkok Bank website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have been paying the fee for over 4 years. So a few months of free transfers would be a drop in the bucket.

Agree, a rather frivolous lawsuit where it's the class action lawyers who make any money. I just hope that Bangkok Bank doesn't decide to simply eliminate these services due to the potential of future lawsuits.

I hope they just drop their NY branch fee....that will make ACH transfers even cheaper than they are now. Excluding any Sending bank fee a person might incur (banks I use for ACH transfer have no Sending fees), with no NY branch fee a person would only have the 0.25% (Bt200 min, Bt500 max) in-Thailand Bangkok Bank branch receiving fee.

[Boon Mee]

Post the letter here...and I may believe that's not a scam.

I got the letter too - it's not a scam but you have to get your local branch to generate the current fee scheduke and what's called an account disclosure repeipt.

Lots of luck with that for all of us doing business with Bangkok Bank in the Ban Nok.

[N2it]

Why not send a message to US Citizens services, (US Embassy) inquiry as to weather this is an authentic "Class Action Law Suit?" That might prove interesting? US Citizens being ripped off by someone in the USA or Foreign Hacker's? Maybe they got BKKBK's list of SS transferees? Wouldn't be the first time.

Always be careful with your bank data....

[falang50]

I also received a letter from Bangkok Bank New York, today. Apparently, they are trying to settle cheaply.

I, personally, will wait and see how the U s District Court rules.

[xvend]

Post the letter here...and I may believe that's not a scam.

no s*&^t

[xvend]

post the letter you numbskulls

[Pib]

Appears the class action suit was settled with a $5,000 award to the plaintiff.   So much for the possibility the NY branch fee changing/disappearing....or others getting some compensation.

 

https://www.pacermonitor.com/public/case/9040346/Van_Dermark,_et_al_v_Bangkok_Bank_Public_Limited_Company,_New_York_Branch

 

Quote

FINAL JUDGMENT AND ORDER: IT IS HEREBY ADJUDGED, ORDERED AND DECREED THAT: This Court has personal jurisdiction over all members of the Class (as defined below) and has subject matter jurisdiction over (a) the claims asserted in this Action, including jurisdiction to approve the proposed settlement, to grant final certification of the Class, to settle and release all claims based on or relating to the Complaint and the allegations raised in this Action, and to dismiss this Action on the merits and with prejudice; and (b) the terms of the Settlement in this matter, dated May 3, 2016(the "Settlement"). The Settlement is hereby finally approved as fair, reasonable, and adequate, and consistent and in compliance with the applicable provisions of the United States Constitution, as to, and in the best interests of, each of the parties and the Class members. The parties and their counsel are accordingly instructed to implement and consummate the Settlement according to its terms and provisions. Plaintiff's counsel is hereby awarded attorney's fees and expenses in the amount of $20,000, which Defendant has agreed to pay in accordance with the Settlement. The Court awards Plaintiff Peter Van Dermark $5,000 in recognition of his contributions as the Named Plaintiff. The claims in this Actionand the Complaint are dismissed on the merits and with prejudice in accordance with the terms set forth in the parties' Settlement dated May 3, 2016. The parties are hereby authorized, without further approval from the Court, to agree to and adopt such amendments, modifications and expansions of the Settlement that are consistent with this Final Judgment and Order. The Court shall retain continuing jurisdiction over the administration, consummation, enforcement and interpretation of the Settlement and Final Judgment and Order and for any other necessary purpose. And as set forth herein. (Signed by Judge Naomi Reice Buchwald on 8/24/2016) (ama)

 

[Pib]

deleted..duplicate to above.

Edited February 28, 2017 by Pib