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Messages - fceligoj

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1

Continuing SAGA.


1.  Yes, I had asked the directly to the 'expert' in the Main Office of Bangkok Bank, and she said that the SSA Pension Payments as direct deposits will be in IAT format.  I had not had my pension sent that way since I did not want to have to go to a Bangkok Bank, identify myself to withdraw the funds.  By the way, you have to keep a minimum amount of funds in the account at all times!


2.  With Bangkok Bank, the only other alternative that allows you to process transfer requests is to write yourself a check from your US domestic bank and 'deposit' it in your Bangkok Bank Savings Account.  Then it takes 60 days for it to clear and to have your money deposited in your account, at a cost of $55 ($15 for the New York Branch and $40 for the Khon Kaen Office!)


3.  I also sent an email to Krung Thai Bank's LA Office.  Response: they only process SWIFT transfers and you cannot do it online, has to be in person by someone.  Or, you process a SWIFT transaction from your US Bank by someone directly.  You can always write a check from your US Bank and 'deposit' it in your Krung Thai Bank Savings Account.  With them, I have been told $50 fee and about 3 months to clear!


4.  TransferWise said they would be back in touch with me on the issue of IAT.  If you are right, Kowpot, TransferWise is just a convenience, especially if they use Wells Fargo Bank.  Something you could do from your US Bank yourself.  I would imagine Wells Fargo would have the same issue, IAT.  It'll be interesting to see what my contact has to say.


5.  I may have an alternative for myself.  My Financial Management Company who handles my IRA Account said they do international transfers (I'll bet by SWIFT) and they only charge $30 per transaction.  I will be talking to them directly (traveling to the US shortly) to see if it is an acceptable approach.  I would imagine they have to be able to process online requests since much of what I do with them is online.  May have to complete some type of application form though.  So, if you have a Financial Management Company managing your investments, maybe they can assist you.




2

I just spent 3 1/2 hours at the Main Branch of Bangkok Bank here in Khon Kaen with the "Foreign Remittance Manager" and a couple of his hench(wo)men.  Trying to ferret it all out, he contacted the "expert" in the Main Office of Bangkok Bank- Bangkok.  Conclusions:  1) they are focused primarily on the transmittal (direct deposit) of Social Security pension payments, 2) the Expert said that SSA has already implemented IAT and they are for Direct Deposit Accounts here in Thailand (and between the local office here and the New York Branch, they will happily process and coordinated the direct deposit with the SSA),  3) they have no answer for other agents such as US Banks or company retirement systems who routinely process "Domestic ACH transfers", 4) yes, if you write a check on your US Bank current (checking) account, they will process it within 60 days at a cost of $55 USD, and 5) SWIFT is another alternative.


I also sent an inquiry to TransferWise, here is their response:


Thank you for getting in touch.
At the moment I am unaware of the exact answer to this questions however I have passed the question on so that we can provide an amicable answer.
For now however my initial response would be that since TransferWise does not utilize international ACH it would not be an issue.
The way our product works is that when you transfer money via us you would sent it via a local transfer from your USD account to our USD account and then we convert the money and then send the money from our local THB account to your local THB account.
I hope this clarifies some of the issue however as I mentioned we are looking into the IAT question and will get back to use once we have an answer.
Kind regards

3
With all these issues trying to transfer funds from the US to Thailand through Bangkok Bank Ltd using ACH Transfer (domestic), has anyone gone to their bank and ask if the bank will accept and process a personal check from a US Bank On Demand Account?

4
Where to find . . . / Re: Yellow 1/2 inch PVC pipe
« on: October 15, 2018, 03:48:02 PM »
It seems to be very popular so many stores run out of it, but they all seem to have dozens of the various connectors.

5
Where to find . . . / Re: cctv
« on: October 15, 2018, 03:46:35 PM »

Ours runs 24 hours a day, you never know what is in store for your house when you are not there, even for an hour or two, daytime or nighttime.  The system is automatic and stores for at least several weeks worth of information, and automatically continues to record over the old information.  You can download anything you need to your smart phone or your computer by going online and accessing the system.  If you want to play back on your PC or your smart phone, simple as pie.


If you try to do the motion detector approach, everything and anything can set if off and begin the recording including a bird flying through the field of view.


You should be able to get a 2megapixel camera (4)  and 2TB recording capability system for around 20,000 baht installed with at least a 1 year warranty.  We had one camera go out for the infrared.  The company came took it and returned it fixed, no charge.


It was so easy for their technicians to install where I am not sure I could have done the whole job myself even though I am a graduate Engineering Physicist!  They know all the items and implementations that are needed!


If you need Pixels phone number. PM me, Henry.

6

On my US Bank side of the transfer, my statement says only "ACH Transfer" for all transfers whether to Bangkok Bank, My Ameriprise Bank, from my checking acct to my savings account at PNC.  On the Bangkok Bank side, yes, it says "International Transfer" and the gobble-d-gook that you all stated.  So it seems all domestic bank initiated transfers are domestic ACH transfers while the New York Branch of BBL deposited it into your account as an International Transfer, which it is.


We have to go to the initiator side of transfers to see if they can transfer funds by IAT (or International ACH Transfer) forma, which is our domestic banks in the US.

7
Where to find . . . / Re: cctv
« on: October 14, 2018, 05:35:44 PM »
Henry, we purchased ours from Pixels.  They have a sales office here in Khon Kaen.  It is on the bypass (ring road) just north of the Lao Nadi intersection.  We have 4 camera and a 2 terabyte recording system.  You can access the system from anywhere if you have wireless in your house.  The cameras are 2 megapixels, daylight and nighttime (infrared).   The system we bought can expand to 8 cameras.  They recently announced a 3 megapixel system now at about the same price we paid for the 2 megapixel system..  Also, great installers.  We swear by it.

8
Not an ACH transfer.  The bank gets more information with Swift already.

9

I have been investigating why this has come about.  My conclusions are:  Thai Banks have pushed back on the US  IRS for FATCA reporting as it is too cumbersome for them to manage.  So the US has 'pressured' probably all countries to implement IAT in place of domestic ACH for all foreign transfers.  Plus if you read about what that Office of the Treasury is attempting to do, it is requiring all countries to meet the same requirement as the terrorist-related countries; e.g., Iraq, Iran, Cuba, Syria, etc., where they get automatic tracking of funds being send overseas.


So we little honest guys are getting screwed.

10



KOWPOT, you wrote, "[font=]I tried Transferwise last month to check it out.  [/font][font=] A little slow, but worked. But, still cheaper [/font][font=]than SWIFT.  I may have to go that route.[/font]

[font=]You did not tell us anything about their fees and the Thai Bank fees.[/font]

[font=]When I checked the TransferWise, it provided an example, "Transfer $1,000, bank ACH fee, $1.50, their fee $10.40, then looks like a good exchange rate."[/font]

[font=]But what did the Thai Bank charge for their deposit fees?[/font]

[font=]My bank in the US charges -0- fee, then the Thai bank has two fees.  For the same example, Bangkok Bank fee is $5.00 US and then 200 baht,  or a total of about  $11.15.  So about the same.  If you transfer $2,000, my bank charges -0-, and BBL again charges $5.00 and 200 baht or $11.15.  Looks like TransferWise is more expensive as the amount transferred goes up.[/font]

[font=]Also, TransferWise said "ACH" not "IAT".[/font]

[font=]
Can you give us some insight in the total fees?
[/font]

11
Visas, et al / Re: new head of immigration
« on: October 12, 2018, 03:04:24 PM »

I think most of us understand that Big Joke is serious about illegal entries, overstays, working without work permits, home owners not notifying IMM about foreigners staying in their homes., etc.  Hereis a Nation Article presented by ThaiVisa about what is happening in the NE.


https://www.thaivisa.com/forum/topic/1061915-97-foreigners-held-in-visa-crackdown/?utm_source=newsletter-20181012-0606&utm_medium=email&utm_campaign=news




12

I am pretty sure this is not at the instigation of Bangkok Bank.  It is a US Government requirement to meet its new International Transfer Regulations.  They are requiring banks to track funds to specific individuals where before it was considered a domestic transfer.


It is just going to be slightly more difficult to reset our transfers or direct deposits.


It probably will also hit any transfer agent like Transferwise who does the same thing since the USG wants to track all funds leaving the US electronically.

13
Visas, et al / Re: new head of immigration
« on: October 06, 2018, 06:47:38 AM »

We all know that most Thais do not (or is it will not) follow many of the laws and regulations in Thailand, especially those traffic laws.


I for one am enjoying watching Big Joke do his thing getting all these illegals arrested, black listed, and kicked out of the country.  I expect the majority of us up here in the hinterland of Khon Kaen DO follow all the laws and regulations on being able to stay legally in the country.  So, as long as it lasts, I for one will sit back and enjoy reading about the exploits of Big Joke.  It sure will be interesting when we have to go to IMM and see the signs "NO TIPS".  I wonder if they will still accept a dozen donuts (something that I have never done?)

14
Open discussion / Re: Central Lake
« on: October 04, 2018, 04:09:33 PM »
Central Lake????  Don't know where that is at.

15
Visas, et al / Re: new head of immigration
« on: October 03, 2018, 03:31:13 PM »

Great Article.  I guess it is better to see what is going to happen with illegal foreigners than to surmise what someone 'thinks' will happen or not happen.  He may be good for getting immigration on a more honest track.

"Thailand's famous crime buster "Big Joke" has been welcomed to his new job - as head of immigration.

And he started off with some tough words promising action against unscrupulous visa agents and even perhaps his own new department."

Read the full article => http://bit.ly/2P4Vezy

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