transfer money from USA to Thailand (can't use SWIFT)

[buick]

my bank in the USA (wells fargo) has made some change to their system that has blocked my ability to transfer via SWIFT to bangkok bank.  i used to be able to call them to verify my identity (calling from thailand) but now some pop up window that used to allow me to enter a code (recvd over the phone) does not pop up and i can't complete the online wire request.  the folks at wells fargo are as confused as i am on why it doesn't work.  i'm planning to get my first extenstion of stay based on retirement early next year and need to top off my USD acct at bangkok bank (about 1000usd short right now). 

 

i'm assuming western union is the next best alternative.  i've never used it.  but i figure that they can provide evidence that the money was transferred from overseas and i show that to bangkok bank when i deposit the money into the account.  i also have a thai baht account with bangkok bank so i can put the transferred money in there if i have to receive the funds in baht.  all the money in that thai baht account has come from my USD account so there won't be any 'mixing' of thailand deposits versus overseas.

 

i don't really care all that much in terms of fees and exhange rate.  if i have to pay 100usd (btwn fee and poor exchange rate, if i have to convert) to get 1000usd over here, i'll do it this one time and hope this glitch gets fixed.

 

i've got 1000 USD in cash with me but i assume they can't verify that came from overseas so probably not an option to deposit that.

 

thanks in advance for any comments.

 

(i should add that i thought i could i could have bangkok bank in thailand request the money from my bank in USA (via SWIFT) but they told me they couldn't do it.  i guess the request needs to be made from the sending bank - seemed odd to me but that is what they said.  i'm just sending money from myself to myself)

Edited December 28, 2016 by buick

[lopburi3]

You are aware that money can be sent using domestic ACH transfer to Bangkok Bank New York (using your account number in Thailand)?  This is normally the easy and cheap method to transfer funds to Thailand - full information is available on Bangkok Bank website including New York routing number.  But you need to set up the system with your home bank and normally they will have to make a test deposit or two with you reporting the amount received - once done most banks allow on-line transfers at any time and even pre scheduled transfers.  If given the option set up as send only (you can not receive funds from Bangkok Bank using this system).  

[poohy]

Yes payment has to be initiated by sending bank

SWIFT always seems to cause a bit of consternation even from UK as they always ask for IBAN no and you have to insist they use swift (no IBAN in Thailand)

 

It sounds like a system error with you bank

[Peterw42]

OP, is it something simple like a popup blocker in your browser ?

[Pib]

You must initiate the request on your Sending bank end.    I know you may be use to "pulling" money from one US bank to another US bank but you are not doing a US to US transfer.

 

You mentioned you have been using SWIFT which is an international transfer method.

 

Since you have a Bangkok Bank account you can use the much cheaper ACH method which is treated as a U.S. domestic transfer.   See how to do it at below Bangkok Bank webpage.

 

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

[Pib]

2 minutes ago, Peterw42 said:

OP, is it something simple like a popup blocker in your browser ?

 

 

yeap, it could be that simple....I've had that issue on my ibanking sites before.  

 

He should check to make sure popups are allowed in his browser or some add-on is not blocking the popup...or use another browser.  

[buick]

i read about the ACH and NYC bangkok bank branch.  when i mentioned that to the folks at BB on silom road, they looked at me with a blank stare (this is when i opened the account).  they certainly didn't refer me to their website.  but later on i read about this somewhere and saw more detail here on TV.  i'll see if i can get that going and get it done that way.  i'm not in a big rush so i could do some test transfers.

[lopburi3]

Actually it could also be that they are not offering that screen for requests made outside the USA - so in that event would need to use a VPN to make it a contact from US server to use SWIFT.

Edited December 28, 2016 by lopburi3

[lopburi3]

5 minutes ago, buick said:

i read about the ACH and NYC bangkok bank branch.  when i mentioned that to the folks at BB on silom road, they looked at me with a blank stare (this is when i opened the account).  they certainly didn't refer me to their website.  but later on i read about this somewhere and saw more detail here on TV.  i'll see if i can get that going and get it done that way.  i'm not in a big rush so i could do some test transfers.

Your bank does the tests - just a few cents but you need to report the exact amount received - which for a baht account can be an issue that requires you call Bangkok Bank unless you have SMS alerts set up to advise you of any foreign transfer (highly recommend) which will give full details.

Edited December 28, 2016 by lopburi3

[buick]

my pop blocker box is not checked (so i should get the windows).  but i am using a new computer and there are some things that don't seem to work, like clicking through a list of pictures.  i can only see the first one, when i click on the arrow for picture 2, it just stays on the first.  not trying to get into too much detail.  it might be worth going back to the old computer to give it a shot (i still have it) until i figure out what is going on with this new one.

 

also wells fargo did say they went through some security update recently and thought maybe it was because i was doing it from thailand.  but they couldn't confirm that, just a theory of theirs.

[buick]

i'm hoping to transfer USD from wells fargo to my USD account at bangkok bank.  so i think the exact amount for the test will be okay.

 

 

[TallGuyJohninBKK]

OP, follow the instructions on the BKK website that Pib provided above in post #5.

 

The ABA routing number for BKK Bank's New York branch is listed at the bottom of the right column on that webpage. And then you use the FULL account number as shown on your BKK Bank passbook (a number that includes the BKK Bank branch identifier so they know how to route your funds here once they arrive in Thailand).

 

You set it up on the U.S. end just as you would any other domestic ACH transfer outbound from your Wells account, using the ABA and account numbers for BKK Bank as mentioned in the prior pgh.  And, just as with any other new ACH destination account setup, you'll have to confirm the link to the BKK Bank NY branch by entering in two small trial deposit amounts received by BKK Bank in your Wells online banking setup.

 

Normally, a person on the Thailand end would receive the incoming funds in Thai baht, and would have to get BKK Bank to tell them what the original arriving amounts for the trial deposits were in U.S. currency, in order to enter those amounts into their U.S. online banking setup.  But in your case, you're saying you have a U.S. currency account with BKK Bank. Not a lot of experience here with folks using the BKK Bank NY branch transfer method going into U.S. $ BKK Bank accounts.

 

But, either way, you'll need to find out from BKK Bank in Thailand what the amounts of the ORIGINAL incoming trial deposits are from Wells -- before BKK Bank does anything with them -- in order to get the correct confirming amounts to enter into your Wells trial deposits confirmation fields in their online banking setup. The trial deposits typically are two less than $1 amounts sent at the same time, so you're typically entering in two amounts in cents like "53" and "67" cents. Doesn't matter which number you enter first as long as you enter the two correctly.

 

 

 

 

[NanLaew]

1 hour ago, lopburi3 said:

Actually it could also be that they are not offering that screen for requests made outside the USA - so in that event would need to use a VPN to make it a contact from US server to use SWIFT.

My thoughts exactly.

 

Many US-based commercial websites as well as forums and financial ones block access for non-US IP addresses. The OP should get a free VPN that specifically has a US IP address option and try again.

[buick]

i did some work on this and it does appear to be the non US IP address.  when i get to the verify identity page (wells fargo), the option they give me is send a code via text to my US phone.  there is also a link on the page for addtl help, when i click on that a new page comes up with a phone number to call etc...  as noted previously, i called that number and they thought the thailand location might be the issue but couldn't confirm.  i don't bring my USA phone to thailand as it is verizon/CDMA which i believe does not work in thailand.  i'm on a 'family' plan in USA (not my family) so i can't dictate which service they use.

 

for the VPN, i had one of those before and my thai internet provider (true) shut down my account.  i'm not sure if the VPN was the reason or not.  i assumed so.  but i got that service before they required ID to open them.  so maybe it was related to lack of ID.  i have a new account now.  it sounds like others have a VPN and probably use True internet, is that the case ? 

[lopburi3]

There is no problem using VPN on True.   

[Pib]

Maybe Wells Fargo has just recently implemented requiring a security code to be sent to your registered mobile number to do certain banking actions.

I use to have a True plan up until a few months ago....I used VPN on True for 5 years...no problems. Now on AIS Fibre and use VPN...no problems.

[buick]

30 minutes ago, Pib said:

Maybe Wells Fargo has just recently implemented requiring a security code to be sent to your registered mobile number to do certain banking actions.

 

i sent my first wire in feb 2016 and of course i can't remember if i needed the code for that one.  but i'm pretty sure the next wire i sent did require the code.  i didn't have my phone (in thailand for that one) and i was able to call customer service and get a code over the phone.  they claim the over the phone code option is still available.  but the website doesn't bring up the needed screen to enter the code.

 

i downloaded a VPN and accessed my email, i got a security alert from my email provider that i just logged in from USA (i'm in thailand) so i think the VPN is working.  but i'm still having the same problem on the wells fargo site.  i guess i'll have to call them again and see if they can give me more info than i got during my talk with them two weeks ago.

 

maybe i can send the money to a friend with a wfb account (won't require code for that ? i'll see) and then have my friend wire the money to me. 

 

i can also just wait a few months and do it when i get back to USA.  i'll have to keep going with the tourist visa/visa exempt entry combos to stay in thailand until then.

[lopburi3]

Expect you can set up the deposit to New York without being in US so I would proceed with that - it is the best long term method to transfer funds for most people and normally very easy to use once set up.  I have not used SWIFT in years as ACH works great.  

[rijb]

Haven't tried this yet.   https://transferwise.com

[buick]

25 minutes ago, lopburi3 said:

Expect you can set up the deposit to New York without being in US so I would proceed with that - it is the best long term method to transfer funds for most people and normally very easy to use once set up.  I have not used SWIFT in years as ACH works great.  

 

i did try that but to set myself up as a recipient i needed to verify identity the same way as a SWIFT transfer.  i will definitely get that done when i can.  i read some stuff about it before and for some reason i didn't follow up on it.  i've only made 5 transfers so far (all this year) so i'll get going with the best method (ACH via NYC) soon.

 

 

 

 

[buick]

31 minutes ago, rijb said:

Haven't tried this yet.   https://transferwise.com

 

thanks for the reminder.  i'll check that soon.  i see richard branson invested in the company.  if he likes it, i like it.

[Pib]

38 minutes ago, rijb said:

Haven't tried this yet.   https://transferwise.com

Transferwise is pricey for sending from the U.S.  Sending USD to THB incurs a 1.5% transfer fee with Transferwise.    See their fee below.

 

https://transferwise.com/pricing#?from=USD&to=THB

[rijb]

That's good to know.  Thanks.

[Pib]

The cheapest method to send dollars from the US and get the very good Thai bank TT Buying Rate using for incoming international transfers is to use ACH from your US bank to your Bangkok Bank account.   Bangkok Bank is the only Thai bank with ACH receiving capability.  

 

And remember always send USD....DO NOT let your sending bank accomplish the conversion as their exchange rate will be significantly lower than the Thai bank TT Buying Rate.   This is not an issue if using ACH which is a US domestic  transfer (Sending bank to Bangkok Bangkok New York....this is automatically a USD transfer) but if using the SWIFT method it is.  Sending banks like to exchange the funds as they earn a very healthy indirect fee through their lower exchange rate. 

[TallGuyJohninBKK]

36 minutes ago, buick said:

 

i did try that but to set myself up as a recipient i needed to verify identity the same way as a SWIFT transfer.  i will definitely get that done when i can.  i read some stuff about it before and for some reason i didn't follow up on it.  i've only made 5 transfers so far (all this year) so i'll get going with the best method (ACH via NYC) soon.

 

 

I don't recall there being any verifying identity process being involved with doing an ACH transfer thru BKK Bank's New York branch.

 

The one thing that does have to happen, IIRC, is that the account holder names need to match on the sending and receiving accounts, but that's it.  You log into online banking with Wells Fargo to set up the ACH to BKK Bank New York there, and presumably you have your ID and password for that, and then you simply use the BKK Bank ABA/Routing number and account number as explained above as your recipient info.

 

From your comments above, I'm not sure you either a) understand the actual process folks here are recommending you use, and/or b] have taken the time to actually read and follow the related instructions.

 

Edited December 28, 2016 by TallGuyJohninBKK

[lopburi3]

1 hour ago, buick said:

 

i did try that but to set myself up as a recipient i needed to verify identity the same way as a SWIFT transfer.  i will definitely get that done when i can.  i read some stuff about it before and for some reason i didn't follow up on it.  i've only made 5 transfers so far (all this year) so i'll get going with the best method (ACH via NYC) soon.

 

 

 

 

This is set up as send to anyone - does not have to be to you - so do not believe there is any proof of being you.  It should only require that the account you plan to send into can receive the funds and your reporting of the exact amount received is the proof normally required.  This is the same as setting up to send to your sisters account across town in US.  

 

Edit:  or are you saying it is the same procedure with a pop up as the SWIFT?  If they will not accept your internet log on do they offer phone banking perhaps, with its own password that you could use to set up?  I had no problem setting up on internet with USAA and believe most people can as have not heard of any problems.  But know banks can be banks at times.

Edited December 28, 2016 by lopburi3

[buick]

12 hours ago, TallGuyJohninBKK said:

From your comments above, I'm not sure you either a) understand the actual process folks here are recommending you use, and/or b] have taken the time to actually read and follow the related instructions.

 

one problem i have is navigating the wells fargo site.  they've got 'transfer money', 'send money', 'wire money' and 'send to another country'.  i think i've confirmed that wire money = SWIFT transfer which requires the identity code.  so i used the wrong 'function' to route funds via ACH to BB NYC.  just recently i tried the transfer money, which is likely the ACH transfer method.  in this case, my acct number with BB was too many digits and would not be accepted.  the send money option uses email, telephone or wfb account and i don't think i can use this one.  the send to another country includes some asian countries but not thailand (i realize i'm not sending to thailand, only NYC but thought i'd throw that in anyway).

 

i did talk to wells fargo and this time they were able to confirm that they've halted the identity verification code via phone.  so it wasn't a pop up block or VPN issue, which were very plausible causes.

[buick]

11 hours ago, lopburi3 said:

or are you saying it is the same procedure with a pop up as the SWIFT?

 

see above post.  i likely used the wrong function.  but when i found what is likely the right one, the field for acct number wouldn't accept the BB acct number, too many digits.  no problem entering it for a SWIFT transfer but seems i've got more work (phone call) on the ACH part.

 

i have an etrade acct and i normally send money there in january of each year (it is close to empty right now).  so i think i've got that as a back up, send money there, then send money from etrade via ACH or SWIFT.  hopefully that one doesn't require the code, i'll be checking on that soon (i know etrade can send verification code with email or phone number, i checked that).

Edited December 29, 2016 by buick

[buick]

for this transferwise, i'm sure i'm looking at the wrong screen (i don't seem to be working any magic with this whole process !!!).  but this suggests i can recieve USD but i can't send in USD (can only send in european currencies and those convert to USD)

 

https://transferwise.com/help/article/2357934/request-money/how-to-request-money

[buick]

now it is really exciting.  i noticed my BB account for thai baht (not the USD account) has a shorter account number.  so thought i'd try that one for the BB NYC ACH.  now when i log into wells fargo, i'm immediately asked to verify my identity via code sent to USA phone.  and i'm using a VPN so they don't know i'm in thailand.  i guess too many failed wire recipient adds/transfer money stuff sent me into the penalty box.  so locked out of account !!!  i sure hope they have not deactivated my ATM card......