Bangkok Bank New York Branch - Opening account

[banagan]

Hi, I have Bank of Bangkok account, does anyone know if its possible to open an account with their New York branch?

 

I'm not from the US.

 

Cheers

[ubonjoe]

It is not possible to open an account there,

You do not need to open an account there if you want to have funds transferred to your account here. Info is here on their website: 

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

[Jingthing]

You'll need ANOTHER bank account from the U.S. or U.K. (NOT Bangkok Bank) to transfer "domestically" from Bangkok Bank New York (or London) to your Thailand Bangkok Bank account. 

 

This is a great option for those of us that use it. Online transfers without using the international SWIFT system. 

 

It's a good reason for expats from the U.S. and U.K. to consider opening a Bangkok Bank account in Thailand. No other Thai bank offers this scheme. 

Edited November 2, 2016 by Jingthing

[Mrjlh]

Why would you want to transfer money to the USA from the UK then to Thailand? If I understand you correctly.

[Jingthing]

19 minutes ago, Mrjlh said:

Why would you want to transfer money to the USA from the UK then to Thailand? If I understand you correctly.

Sorry if that's how that sounded.

No, you don't do that.

The point is that you can use EITHER Bangkok Bank New York or Bangkok Bank London to transfer DOMESTICALLY funds to your Thailand Bangkok Bank account IF you have another U.S. bank account (if using New York) or another U.K. bank account (if using London).

 

You never ever actually open a Bangkok Bank account in New York or London and also you can never ever transfer any money back out using this method. It's one way only. 

 

So this method is only of interest to people that have (or can open) U.S. or U.K. bank accounts other than Bangkok Bank New York or London (which again you can't open). 

 

For me it's not my primary method of money transfer (I use SWIFT for that) because my U.S. bank has a dollar limit on each domestic transaction, but it's great piece of mind that it's there at least as a BACKUP. 

 

There is some overhead in initially setting up the link using small test deposits, but once it's done it's done. 

Edited November 2, 2016 by Jingthing

[IMA_FARANG]

Bamgkok Bank in New York is not liscensed as a fully accredited U.S.  full commercial service bank.

For that reason you can not open an account there.

I believe an account there would not have the same security and Federal deposit insurance  guarenrtees a full servive bank must have,

But Bangkok Bank in new York is able to do SWIFT or ACH transfers to your Bangkok Bank account in Thailand.

[Jingthing]

3 minutes ago, IMA_FARANG said:

Bamgkok Bank in New York is not liscensed as a fully accredited U.S.  full commercial service bank.

For that reason you can not open an account there.

I believe an account there would not have the same security and Federal deposit insurance  guarenrtees a full servive bank must have,

But Bangkok Bank in new York is able to do SWIFT or ACH transfers to your Bangkok Bank account in Thailand.

I've never heard of anyone using this scheme for SWIFT.

It's an ACH (domestic) method.

For SWIFT, simply do a SWIFT transfer from any of your non-Thai accounts that offer SWIFT (using their specific procedures) to ANY Thai bank account. 

Edited November 2, 2016 by Jingthing

[Mrjlh]

When he said he was not from "here", I took it to mean "not from the States" but another country such as the UK.

 

Also you'll be surprised to know "only" Thai citizens can open an account in New York. That's per the  NY Branch Manger there. It's for Thai citizens in America who need to send money home. Again all they do is the same as we do but they have an actual account.

 

About 8 years ago we had this exact same conversation.Remember? We use to be able to send money via "Bill Pay" by US Banks directly to your local BB for $3. Then the Feds said can't do that. Affected a lot people here. That's when NYBB changed the internal rule and made it public that it was OK to use their routing number.  Big discussion back then.

[Jingthing]

We're not suggesting that people open accounts at B.B. New York or London!

Don't even try!

We're talking here about a very specific thing.

DOMESTIC (NOT SWIFT) transfers from the U.S. or the U.K. from U.S. or U.K. accounts (NOT BANGKOK BANK!) to B.B. New York or London that FLOWS THROUGH to your THAI Bangkok Bank account (using the account number of your Thai account).

Yes, this works! Many people have been using the method for years!

From the U.S. or U.K. accounts POV you are doing a DOMESTIC transfer within the U.S. or U.K.

 

To make this work, you must follow the steps for the initial setup and test deposits to establish the link. See Bangkok Bank link above.

 

Again, this is ONLY for people who have:

 

U.S. or U.K. bank accounts (NOT BB New York or London)

A Bangkok Bank account in Thailand

 

If you still don't understand, I give up now. 

Edited November 2, 2016 by Jingthing

[Mrjlh]

I totally understand. See, now it's you that misunderstood my reply to you.  So never mind...LOL

[Jingthing]

1 minute ago, Mrjlh said:

I totally understand. See, now it's you that misunderstood my reply to you.  So never mind...LOL

Good. I can live with that.