Bangkok Bank Fee

[kimchibob]

Just received my monthly transfer of my U.S. Govt annuity through Bangkok Bank in NYC. They did not deduct the usual $10 fee from the transfer. The local Bangkok Bank branch did deduct their fee however. Maybe, as reported, that policy really is illegal in the U.S. Hopefully they will refund the fees they have been deducting for the last 3 1/2 years...doubt it though.

[Pib]

How do you know they did not deduct it?   What documented proof?   Just checked the Bangkok Bank website and they still show the fee.   

 

And why do you say it's illegal for Bangkok Bank NY branch to charge the fee?  They are basically acting as a correspondent/intermediary bank and these kind of banks charge pass-thru fees all the time.   U.S. banks can charge sending and receiving fees....and many do.

 

I hope you are right (seriously)...but show us some proof.   With all the govt pension payments (i.e., social security, military retirement, etc) that flow to Bangkok Bank Direct Deposit accounts each month hopefully others can also comment on whether their October payment did not include the NY branch fee.

 

Edited October 3, 2016 by Pib

[kimchibob]

H

[Pib]

Purely on above that does not prove the $10 fee was not applied unless maybe your govt pension payment is exactly $4,000.  

 

Are you saying your govt pension payment is exactly $4,000 "before", repeat, before it is transmitted to Bangkok Bank?

 

Assuming above is the free Bangkok Bank SMS Remittance notice, it never showed the Bangkok Bank NY branch fee (or at least when I use to get the SMSs when I had a mil retirement pension payment going to Bangkok Bank...it only shows the amount received at the "in-Thailand" Bangkok Bank branch....it never reflected the NY branch fee...it only reflected the "in-Thailand" branch fee like the Bt344.40 variable fee above.    The NY branch fee was sliced off as it flowed through the NY branch and then the SMS Remittance notice you got was light/did not reflect that amount/fee.

 

[kimchibob]

Yes, exactly $4000, before it used to reflect $3990 on the SMS. I fear they will stop providing this service just because of this. Anyway, I did not think it was illegal, I read somebody filed a class action suit to that effect.

[kimchibob]

If you would like, I will provide the previous month's SMS which will show the $10 deduction at the NY branch.

[Pib]

Yes...if the SMS now "also" slows the NY branch fee vs just the in-Thailand Bangkok Bank fee of 0.25% (Bt200 min, Bt500 max) that is a change in the fee info they provide in the SMS.

[Pib]

.

11 hours ago, kimchibob said:

Yes, exactly $4000, before it used to reflect $3990 on the SMS. I fear they will stop providing this service just because of this. Anyway, I did not think it was illegal, I read somebody filed a class action suit to that effect.

 

Here's what happened to that case...it was settled/terminated 24 Aug 16...appears the plaintiff and lawyers got some money.  No mention of the fee going away.

 

[asiaexpat]

Just made a transfer through my usual ACH transfer to Bangkok Bank through NYC branch. $10 deducted from deposit by NYC branch then transferred the remainder converted to Thai Baht at the TT rate. Then .25% fee deducted before deposit to my account. All fees were still charged as usual. 

[Pib]

That confirms the fee is still there for adhoc/standard transfers.

 

Now just to confirm the fee has not been dropped in the case of "U.S. Govt Payments" like social security, military retirement, etc., and since those folks usually get paid the first few days of each month it would be good to hear from someone who has their U.S. govt pension going being directed deposited to Bangkok Bank since they should have just received their monthly deposit.

 

 

Edited October 4, 2016 by Pib