Paying overseas wage direct into my Thai Bank

[Caps]

Has anyone had any experience with having their wage paid directly in to a bank in Thailand? Namely the Bangkok Bank for me.
The account is a normal savings account with an ATM card
I am a UK citizen working abroad and get paid in Dollars and I have but down to have my money paid in to Thailand. The first lot is due in on the 15th April and I was wondering if anyone else has done this and were there any problems, how much do they charge etc?
I chose to do this rather than have it paid into my UK account and do a $ to £ exchange rate and then have to do a £ to THB exchange rate

[Pib]

The only Thai bank charge will be their typical international receiving fee of 0.25% (Bt200 miin, Bt500 max).  

Any other charges would be by your company/sending bank/intermediary bank.

[cms22]

I have done exactly this for the past 12 years.

95% of the time it is fine, one or two mishaps (resulting in delays in payment) but that's pretty normal really.

Overall excellent service.

C

[laislica]

IMHO, better to have two accounts and online access.

Have the money transferred into the account which does NOT have ATM access.

Xfer from the "savings" acc to the ATM acc as needed.

This limits how much you can be ATM scammed.

Also it will be taxable as it's current earnings, well that's what I heard.

So if you xfer "Savings", no tax? Someone who knows more may confirm or correct this - please.

I have the money put into a UK acc and about once a year I Xfer (or when the exchange rate is best...)

I use Xe.com.  It was easy to set up a trading account.

They seem to take about 0.7baht off the mid rate and the wire fee was £12.50 but may be less or none.

However, at the point of trading you get to see exactly how many Baht you will get.

Then choose to complete the deal or not.
The bigger value you xfer, the better the exchange rate.....

I was lucky enough to transfer a large amount when the rate was near 55 so I haven't had to use their service since their reorganization.

Cheers

[gnatman]

You should be able to have your salary deposited directly into your Bangkok Bank account via the Bangkok Bank branch in London.  See this link from the bank's webpage for instruction.  I do the same thing in the US with my retirement accounts.  There is minimal, if any, fee and the money is available immediately to you in Thailand. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Good luck,

Gnatman

[kokopelli]

Perhaps I am confused? Are you asking that your employer deposit your monthly salary into a Thai bank account via Bangkok Bank in London or are you asking if you can deposit your salary from your own bank account in a Thai account?

 

The former seems unlikely to me but the latter is rather easily set up. Maybe others have more experience in that regard.

 

 

[NE1]

I have worked in several countries for different nationality employers , I have just given them my banking details and they have paid it in.

 

As a previous poster stated , one or two blips sometimes , but the money always arrives.

[Cracker2000]

I'm looking to set up 02 separate Accounts with Standard & Charted Bank, one in Thai Bht, the other in US$ (which my employer pays me in), and then transfer one to the other as needed.

 

This approach has worked best for me in other countries and if you UK based like myself its best to hold your US$ to such a time as you need to exchange them (although the pound is at its lowest for 9 years at moment).

 

My employers already have an arrangement with S&C, so opening such accounts is less fraught normally.

[jonnyscot]

Shouldn't be a problem,, I guess depending on how long you stay per year in thailand may have some bearing on whether you may be required to pay tax on it or not,, I remember the general feeling was never take money into thailand that was earned in the same year,


Sent from my iPhone using Thaivisa Connect

[sikishrory]

I been doin this with regular bkk bank account for 12 months too. No problem.

If you spend more than 6 months in thailand then this money is taxable at 30% by thailand. However thailand does not tax income from aboard if it is remitted after 1 year of being earnt.

I also agree with above comment about having another account. The more the merrier for many reasons.

Also bkk bank use union pay "debit" cards now which are uselss at 90% of places. Which is why i changed.

[Caps]

8 hours ago, kokopelli said:

Perhaps I am confused? Are you asking that your employer deposit your monthly salary into a Thai bank account via Bangkok Bank in London or are you asking if you can deposit your salary from your own bank account in a Thai account?

 

The former seems unlikely to me but the latter is rather easily set up. Maybe others have more experience in that regard.

 

 

Yes Employer into my Thai Bangkok Bank

[Caps]

8 hours ago, jonnyscot said:

Shouldn't be a problem,, I guess depending on how long you stay per year in thailand may have some bearing on whether you may be required to pay tax on it or not,, I remember the general feeling was never take money into thailand that was earned in the same year,


Sent from my iPhone using Thaivisa Connect

My rotation is 8 weeks working and 4 week home (Thailand)

[Caps]

3 hours ago, sikishrory said:

I been doin this with regular bkk bank account for 12 months too. No problem.

If you spend more than 6 months in thailand then this money is taxable at 30% by thailand. However thailand does not tax income from aboard if it is remitted after 1 year of being earnt.

I also agree with above comment about having another account. The more the merrier for many reasons.

Also bkk bank use union pay "debit" cards now which are uselss at 90% of places. Which is why i changed.

Yes they offered me one but I stuck with the Visa Debit card also on offer

Also I will only be in country (Thailand) for 4 months of the year so would i be ok for Tax then?

[6thST]

On 4/3/2017 at 2:28 PM, cms22 said:

I have done exactly this for the past 12 years.

95% of the time it is fine, one or two mishaps (resulting in delays in payment) but that's pretty normal really.

Overall excellent service.

C

I have had direct deposit for over 10 years with no problems with Bangkok Bank. I would suggest you to open a second account just for your direct deposit.You won't be able to use your ATM card on that account for your for safety,You can only draw money on that account by going into the bank with a WITHDRAW SLIP!

 

[JaiLai]

Been doing this for almost 18 years, no problems whatsoever.

 

Not sure about the tax comments, i've never been quizzed about it...

 

Thanks.

[Pib]

2 hours ago, 6thST said:

I have had direct deposit for over 10 years with no problems with Bangkok Bank. I would suggest you to open a second account just for your direct deposit.You won't be able to use your ATM card on that account for your for safety,You can only draw money on that account by going into the bank with a WITHDRAW SLIP!

 

The Bangkok Bank special Direct Deposit account is only required for U.S. govt payments such as govt pension payments.  Payments such as direct deposit of salary from a company can go to a regular savings account which  can come with debit card, ibanking, etc. 

 

If not required to have the special Direct Deposit savings account, better to go with a regular savings account since you would not have the restriction of no debit card or ibanking transfer-outs and having to show up in person to do a withdrawal/transfer.

[Caps]

5 hours ago, Pib said:

The Bangkok Bank special Direct Deposit account is only required for U.S. govt payments such as govt pension payments.  Payments such as direct deposit of salary from a company can go to a regular savings account which  can come with debit card, ibanking, etc. 

 

If not required to have the special Direct Deposit savings account, better to go with a regular savings account since you would not have the restriction of no debit card or ibanking transfer-outs and having to show up in person to do a withdrawal/transfer.

I don't need a special Direct Deposit account with it being non US Gov payment.  All I have is the normal savings account. 

I did send an email to try and sort out a Bangkok Bank London account but two weeks later I still have not had a reply, no surprise there then!

[Pib]

6 hours ago, Caps said:

I don't need a special Direct Deposit account with it being non US Gov payment.  All I have is the normal savings account. 

I did send an email to try and sort out a Bangkok Bank London account but two weeks later I still have not had a reply, no surprise there then!

Don't know if you used the email address in below instructions from their website.  If not, you might want to resend your email.

 

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

 

[Caps]

36 minutes ago, Pib said:

Don't know if you used the email address in below instructions from their website.  If not, you might want to resend your email.

 

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

 

Thanks Pib

I have just sent another to the address you provided and included the email from the other who hasn't even bother getting back in touch

[Caps]

Just a quick update, the money has been going in fine , thanks for all the help and advice