Bangkok Bank ACH from US bank

[CaptHaddock]

I have ACH access set up from a couple of my US banks to my account at Bangkok Bank and it works fine.  To transfer funds to BB I initiate a "push" transaction as the US bank.  However, these banks have daily and monthly limits on the amounts that can be pushed out via ACH.

 

Does anyone know if there is any way to initiate a "pull" ACH transfer from Bangkok Bank?  If that were possible there would be no applicable limit on the US bank side, although BB may have its own limits.

[Pib]

You can not do an ACH pull from Bangkok Bank...it will be rejected by Bangkok Bank.   That rejection flows back to the U.S. bank you initiated the ACH pull at, and when the U.S. bank gets that rejection they may think a fraudulent transaction was attempted and may suspend your transfer link.  But at a minimum, Bangkok Bank simply reject the attempted ACH pull.   Basicially, Bangkok Bank uses ACH for "receive" transactions only.  

 

Sorry, Thailand ain't going to allow you  to get money out of Thailand using an ACH pull transaction.  Thailand: Land of Smiles for incoming money; Land of Frowns for outgoing money.

 

 

Partial quote from Bangkok Bank webpage talking use of ACH via their NY Branch.

Quote

Important Note 

You cannot transfer funds from Bangkok Bank's account in Thailand to your account with banks or online payment service providers in the US via Bangkok Bank's New York branch and the ACH system. If you initiate direct debit or ACH debit transactions to Bangkok Bank's New York branch, banks in the US and online payment service providers may suspend your account.

 

Edited June 27, 2017 by Pib

[CaptHaddock]

10 hours ago, Pib said:

You can not do an ACH pull from Bangkok Bank...it will be rejected by Bangkok Bank.   That rejection flows back to the U.S. bank you initiated the ACH pull at, and when the U.S. bank gets that rejection they may think a fraudulent transaction was attempted and may suspend your transfer link.  But at a minimum, Bangkok Bank simply reject the attempted ACH pull.   Basicially, Bangkok Bank uses ACH for "receive" transactions only.  

 

Sorry, Thailand ain't going to allow you  to get money out of Thailand using an ACH pull transaction.  Thailand: Land of Smiles for incoming money; Land of Frowns for outgoing money.

 

 

Partial quote from Bangkok Bank webpage talking use of ACH via their NY Branch.

 

I am not trying to get money out of Thailand, but into Thailand.  By an ACH pull I mean a transfer from a US bank to Bangkok Bank initiated at Bangkok Bank rather than at the the US bank. 

[Jingthing]

13 minutes ago, CaptHaddock said:

I am not trying to get money out of Thailand, but into Thailand.  By an ACH pull I mean a transfer from a US bank to Bangkok Bank initiated at Bangkok Bank rather than at the the US bank. 

The answer is still no.

The bank I use for ACH to BB also has per transaction limits. 

Weirdly, they go up a little sometimes, but generally only 2,000. 

 

Edited June 27, 2017 by Jingthing

[CaptHaddock]

2 hours ago, Jingthing said:

The answer is still no.

The bank I use for ACH to BB also has per transaction limits. 

Weirdly, they go up a little sometimes, but generally only 2,000. 

 

But how do you know that?  Have you ever asked Bangkok Bank to do an ACH pull from a US bank?

[Jingthing]

It sounds like you're trying to get your ACH link to BB frozen by your US bank.

[CaptHaddock]

3 minutes ago, Jingthing said:

It sounds like you're trying to get your ACH link to BB frozen by your US bank.

1.  Not at all.  US banks that initiate an ACH transfer have more liability for the transaction than the responding bank.  That's why they have limits on initiation only.  The credit union in question here, State Department Federal Credit Union, has a limit on the amount of an ACH push of $2000/day, but plainly states that they have no limit on the amount pulled by another US bank, which in this case would be Bangkok Bank.

 

2.  Since you provide no source for your earlier "information" I can only conclude that it is unsubstantiated opinion.  Thanks for your help.

 

I will eventually get a definitive answer which I will post here.

[Jingthing]

Good. I'm sure you won't be able to do it. The question is almost absurd. You don't have a BB New York account. You can't do a domestic US ACH transaction from BB Thailand. Knock yourself out trying. Won't happen.

[Pib]

10 hours ago, CaptHaddock said:

I am not trying to get money out of Thailand, but into Thailand.  By an ACH pull I mean a transfer from a US bank to Bangkok Bank initiated at Bangkok Bank rather than at the the US bank. 

I seriously doubt Bangkok Bank does ACH pulls....seriously, seriously doubt they do any kind of retail banking pulls.  Do I have a reference for them not doing the pulls whether via your ibanking or physically at a branch....no I don't.....but definitely never-ever seen any ThaiVisa poster saying they had did it.  Nor does my Bangkok Bank ibanking have any pull capability.    

 

Although using the NY branch to accomplish an ACH "send" that's really a special setup where the funds are routed to the NY branch....they get it...see the in-Thailand Bangkok Bank account number and then transfer it to Thailand.  Are they using ACH to transmit the funds between their NY branch and the in-Thailand branch---highly probably no.  Instead  they are just doing some intra-Bangkok Bank system funds transfer....maybe even using SWIFT but not charging themselves (or you) the pricer SWIFT fee....just their $5 or $10 fee for most ACH send transfers routed via the NY branch.

 

[Jingthing]

I seriously doubt on steroids.

[CaptHaddock]

52 minutes ago, Pib said:

I seriously doubt Bangkok Bank does ACH pulls....seriously, seriously doubt they do any kind of retail banking pulls.  Do I have a reference for them not doing the pulls whether via your ibanking or physically at a branch....no I don't.....but definitely never-ever seen any ThaiVisa poster saying they had did it.  Nor does my Bangkok Bank ibanking have any pull capability.    

 

Although using the NY branch to accomplish an ACH "send" that's really a special setup where the funds are routed to the NY branch....they get it...see the in-Thailand Bangkok Bank account number and then transfer it to Thailand.  Are they using ACH to transmit the funds between their NY branch and the in-Thailand branch---highly probably no.  Instead  they are just doing some intra-Bangkok Bank system funds transfer....maybe even using SWIFT but not charging themselves (or you) the pricer SWIFT fee....just their $5 or $10 fee for most ACH send transfers routed via the NY branch.

 

Since I usually find your posts, Pib, to be a source of reliable information, I am surprised that in this case your response to my question is instead made up out of whole cloth.  I don't know myself how these transactions are carried out, which is why I posted the question, but your conjecture doesn't seem particularly likely.  As far as I can see, Bangkok Bank participates in the ACH network like any other American bank, which BB surely is.   Like other American banks ACH transfers use a two-level addressing scheme, first via the ABA number, of which each bank has just one no matter how many branches it may have anywhere, and then by the account number.  A transfer payment is routed to the bank which then routes it internally to the account via its own internal (and possibly global) network, not via an expensive public network like SWIFT. 

 

The only difference that I can see between BB and other American banks in the ACH network, is that the Bank of Thailand regulates outflows of Thai currency strictly, which is why we cannot initiate an ACH send from BB.  There's no obvious reason that that policy should have any effect on inflows, which, as far as we know, are not otherwise restricted.

 

If I had to guess I would suppose that initiating an ACH pull at BB may indeed be unlikely, but I don't have to guess, do I?  Because what value would my guess have?

 

 

[Pib]

Guess you will just need to make a couple calls/emails/visits to Bangkok Bank branches or their HQ to see what answers you get to satisfy yourself.  With it being Thailand I expect you get various answers ranging like no-can-do , contact this other Bangkok Bank number/office, I don't know, etc.   

 

I just know about reading/responding to many banking related posts on ThaiVisa over almost a decade about how to move money between Thailand and the home country I don't remember even one post where someone "pulled" money from the U.S. via ACH or any other method by having Bangkok Bank initiate the pull transfer.  Nor have I ever seen any reference to such capability on the Bangkok Bank website which is probably the most banking information rich of all Thai banks.    I'm sure if such capability exist some American would have surely discovered that secret by now....but hey, new secrets are always being discovered.

 

But if you find there is such a pull capability available via ibanking, a visit to the branch, etc., it will be a good thing.

[Chefgno]

Anyone here from the USA that has their Social Security check direct

deposited into Bangkok Bank in New York?

Also, what are the Pros and Cons in doing so?

 

Thank you in advance.

Geno

Edited June 30, 2017 by Chefgno

[ubonjoe]

25 minutes ago, Chefgno said:

Anyone here from the USA that has their Social Security check direct

deposited into Bangkok Bank in New York?

Also, what are the Pros and Cons in doing so?

I have mine directed deposited.

It is the least costly way to get your money here unless your bank in the states does free ACH transfers.

Fees and other info can be found here. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have it setup to get a SMS that tells me amount sent in dollars minus the fee for New York, the exchange rate used and the amount in baht minus the fee for here.

The only con is that you have to go to the bank here to get the money or transfer it to another account. Not a big deal to it once a month. I use a small branch and most of the time I can just walk in and go straight to the desk to get it done. About 5 minutes or less most of the time. I transfer it to another Bangkok Bank account I have .

[CaptHaddock]

1 hour ago, ubonjoe said:

I have mine directed deposited.

It is the least costly way to get your money here unless your bank in the states does free ACH transfers.

Fees and other info can be found here. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

I have it setup to get a SMS that tells me amount sent in dollars minus the fee for New York, the exchange rate used and the amount in baht minus the fee for here.

The only con is that you have to go to the bank here to get the money or transfer it to another account. Not a big deal to it once a month. I use a small branch and most of the time I can just walk in and go straight to the desk to get it done. About 5 minutes or less most of the time. I transfer it to another Bangkok Bank account I have .

Probably isn't much of a bother, if you are both in town and ambulatory.

[Pib]

1 hour ago, Chefgno said:

Anyone here from the USA that has their Social Security check direct

deposited into Bangkok Bank in New York?

Also, what are the Pros and Cons in doing so?

 

Thank you in advance.

Geno

Pros: The special Bangkok Bank Direct Deposit account allows the U.S. govt benefits payment agency (i.e., Social Security, Military Retirement, etc) to be direct deposited to your Bangkok Bank account since Bangkok Bank is the "only" Thai bank with ACH receiving capability.   ACH is the primarily system used by U.S. govt agencies to make monthly benefits payments.   If you don't have a U.S. bank account anymore or maybe still have one that is pricey to use for transfers, then the Bangkok Bank Direct Deposit account is just the ticket you need.   

 

Cons:  No debit card allowed, no transfer-outs via your ibanking (can still transfer-in), account can be in your name only...no joint account allowed.  "You" (not the spouse or anyone else) with passport in hand must show up in person to withdraw or transfer funds.  If showing up at any Bangkok Bank branch is not easy or maybe even possible like if hospitalized this could pose a problem.

 

Note: If you have a U.S. bank account which does not charge an ACH sending fee (many don't) and having your benefit payment Direct Deposited there you could then setup a monthly/quarterly/etc.,  "automatic monthly" ACH transfer to send an approx equal amount to your "regular" Bangkok Bank account which can have debit card, be a joint account, ibanking transfer outs, etc.   Total fees would be exactly the same as if the U.S. govt agency had sent the payment directly to your Bangkok Bank Direct Deposit account.   You might be wondering what not just have the benefit payment sent directly to your Bangkok Bank "regular account?"  Well, the incoming U.S. govt payment will have a description/special coding identifying it as a U.S. govt benefit payment such as your monthly Social Security payment....once the Bangkok Bank computers/humans see that they will freeze those incoming funds, send you a letter saying you need to come in an open a Direct Deposit account with X-days; otherwise, they will send the money back.  But when funds are sent from your U.S. bank account they do not have in U.S. govt description/coding...an automatic transfer you have setup looks just like any other adhoc transfer you do.