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Author Topic: Change to Deposit Procedure to Bangkok Bank New York  (Read 5556 times)

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #90 on: July 08, 2019, 08:18:45 PM »
I just walked through the process on TransferWise and got to the point of identifying a Bank to do the wire transfer.  One of the banks was BofA.  There are 3 others.  My Bank is not one of those banks.  So, I would have had to make an online transfer to TransferWise in England, which my bank will not do unless myself or another person on the account goes to a branch and initiates the transfer.


So it looks like to use the wire transfer approach, you should be able to do it straightforward with one of the 4 bank identified by TransferWise if you have an account with one of those banks.


I am out of luck.


The falling through the menus to do this type of transfer with TransferWise was pretty easy, step-by-step.


In answering your first question, Rex, click on the button to the left of "Wire Transfer".  The menus then takes you through the process.  At every step along the way, you can cancel the process.


It looks like, yes, it will cost you some amount with the bank identified as the sender.  If you have the ability to have BofA to do the transfer without the assistance of TransferWise, you should be able to save something.  Since I don't have the ability to complete the process, I cannot share any more experience with the full process.

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #91 on: July 08, 2019, 08:30:18 PM »
I just went on the BofA website and checked for Wire Transfers - international.  If you have an online account, seems to be pretty easy, and the international transfers in the foreign country's currency, the cost is $35.


https://www.bankofamerica.com/content/documents/deposits/service/pdf/Domestic-international-wire-transfers-info-sheet.pdf


PS. I may consider getting a BofA account on my next trip to the US.

Savannah20

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #92 on: July 09, 2019, 04:04:25 PM »
I went to Immigration today to get an exit re-entry visa for my trip to US of A (new grandson, pix available). I was prepared to ask some questions about Bangkok Bank etc. I got a six month transaction statement and current balance letter from Bangkok Bank yesterday. Turns out you can get a six month transaction statement on the spot for 100 baht but a one year transaction statement has to be ordered from Bangkok and will take a week. I sort of know one of the ladies at Immigration and got with her for my exit re-entry stamp and question asking. I asked what has replaced the embassy income verification letter if you want an extension to a retirement visa. She said the one year transaction statement showing 65,000 a month or more deposited each month from a foreign source and the current balance letter. Okay, that is good. I showed her my last deposit from TransferWise showed up as a local transfer. But I then showed her the TransferWise receipts for the last three deposits and how they look identical. Very clear the money came from the USA and ended up in Bangkok Bank. The only difference is on page 2 of the TransferWise receipts. Everyone says paid out from banking partner Bangkok Bank except the newest one in July which says paid out from banking partner Kasikorn Bank. She asked why and I said I don't know but the paperwork shows it came from the USA. She agreed and said bring the TransferWise receipts when I get my retirement extension in September and she would be happy. There you go, wanted to put this on paper in case my steel trap memory bank malfunctions. ps: they will move again sometime this year, sounded like out of town on the way to Udon Thani.

Rex (Admin)

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #93 on: July 09, 2019, 04:26:47 PM »
Very encouraging, Savannah!  Thanks very much for doing the reconnaissance and posting here.

Yes, please post pix of new  grandrugrat!

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #94 on: July 09, 2019, 05:58:03 PM »
You did good Savannah!


Now, which lady with whom did you conversed about the TransferWise possible issue?  Cubicle #2, Cubicle #3, or Cubicle #4 starting from the left.  We all know that the young man is in Cubicle #1.

Rex (Admin)

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First Internet Bank $20 Intl Wire Transfer
« Reply #95 on: July 09, 2019, 06:30:50 PM »
I think I posted this elsewhere and mistakenly said I was talking about BoA. Actually, it is First Internet Bank
https://www.firstib.com/ I was talking about.  They just confirmed that an Intl Wire Transfer in baht is only $20. Amazing! It would be $50 in US$.  They also reminded me that there are intermediary banks involved who may pose additional fees. 

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #96 on: July 09, 2019, 07:43:41 PM »
Other requirements by firstib.com.  Rex, just checked and see below, international wire transfers are $50 each by firstib.com plus any intermediate banks or end bank fee they are not reponsible.


For your security, we will not send any wire transfer if we are not able to reach you by phone or email to verify the request.  Are they open 24/7 other than federal holidays?
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[/size][size=1.75rem][/size][size=inherit]Wire Transfers[/size][size=1.75rem]


[/size]
[size=1.75rem][/size][size=1.25rem][/size][size=inherit]Outgoing transfers domestic[/size][size=1.25rem][/color][/size]$20[/font][/size][size=1.25rem][/size][size=inherit]Outgoing transfers foreign[/size]3[size=inherit][/size][size=1.25rem][/color]$50[/font][/size][size=1.75rem]

Savannah20

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #97 on: July 09, 2019, 07:53:44 PM »
You did good Savannah!


Now, which lady with whom did you conversed about the TransferWise possible issue?  Cubicle #2, Cubicle #3, or Cubicle #4 starting from the left.  We all know that the young man is in Cubicle #1.


I spoke with the boss, deputy inspector, of those four. She sometimes helps at a cubicle but is more often behind the scenes and provides a final signature and approval for some transactions.

Rex (Admin)

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Reply from TransferWise
« Reply #98 on: July 09, 2019, 08:11:52 PM »
Tue 9 Jul 2019, 8:07 pm

Nothing really new here, but thought I would share the reply I just rec'd from TransferWise. Nice response, nice, helpful attitude


Quote from: TransferWise



Anneli Lepik (TransferWise)

Jul 9, 13:56 CEST

Hello Rex,

Thank you for getting in touch with us and apologies for the late reply.

Indeed, there have been cases where when sending funds to THB, it is shown as "Interbank Transfer via SMART."

The reason for this is that in Thailand we use 3 different banking partners and two of them can provide confirmation for the international funded transfers.

It's not a new TransferWise policy, it simply happens because in Thailand we have 3 banking partners and which one we use for a specific transfer depends on different circumstances. It's simply the way we operate.
These circumstances do not depend on the payment method, amount nor whether you send the money from your Borderless account. It is also not possible to know or predict which partner will be used.

We can do one thing though - if you wish your funds to be sent out via a specific partner, in your case Bangkok Bank, then you should do the following:

When you set up a transfer on TransferWise and you wish it to be sent out through a specific partner (in your case Bangkok Bank) please give us a call informing us about it (contacts can be found here, please note that during weekends we don't have phone support).
This way our customer support could immediately add a note to the transfer order and notify our relevant team and the transfer would be sent out through that channel.
A phone call is better than email because we can react faster to the phone call.

However, unfortunately even when contacting us to send the payment out through a certain partner, we will do our best to do so, but we cannot still guarantee this 100%.

This is due to the fact that there may be factors out of our control (e.g. a certain partner might be facing a technical or other issue and the system will route the payment via another available partner to ensure same day delivery).
When requesting the payment to be sent out through a specific partner, it may also take a bit longer for the transfer to go through.

I understand this may not be a fully satisfying answer.

I can assure you though that our team is working hard on trying to find a better solution for this situation but at the moment, notifying us after you set up the transfer is the best way.

If there is anything else we could help you with, please get back in touch with us.
We'll do our best to help!


fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #99 on: July 10, 2019, 04:46:55 PM »
I just received my transfer through TransferWise, and lo and behold, it too was an 'interbank transfer using SMART money', just like you, Rex and Savannah20.

The receipt indicated that it was sent by me from my USA Address in USD$, processed and converted to THB by TransferWise and delivered to my Bangkok Bank Savings Account.  (No mention of my USA Bank.)  And at the very end, it states:

"Paid out from
Name TransferWise Ltd on behalf of FRANK XXXXXXX
Delivered via Local bank transfer
Banking partner TMB"

So, TMB is also one of their local partners besides BBL and Kasikorn.  Wonder who else is their 'local partner.'  By the way, the local USA office my transfer was processed by, New York, New York, licensed to do business in New Jersey.

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #100 on: July 10, 2019, 05:08:35 PM »
Just an added note to this past transfer.  With every other transfer where the funds went directly into my BBL Savings Account, whether me transferring through BBL-New York before they would no longer accept domestic ACH transfers and the 15 or TransferWise transfers where they all stated "from abroad", I would get an SMS message from BBL that the funds arrived.

This past one, NO SMS from BBL!  It just arrived with no notification.

Rex (Admin)

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #101 on: July 10, 2019, 05:35:59 PM »
Thanks for all of this, Frank.

Slightly off-topic (and not relevant anyway) but I read on TV that social social security deposits to Bangkok Bank New York (when that was still possible) had to be collected in person, not ATM.  Is that true?

Savannah20

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #102 on: July 10, 2019, 07:43:13 PM »
I will find a Kasikorn Bank and go in and try to get a receipt or something for the TransferWise transaction of my money to Kasikorn. Not too optimistic but easy enough to try. Maybe Frank can ask at TMB?

fceligoj

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #103 on: July 10, 2019, 08:24:54 PM »
Yes, I think you can still apply to have your SS check direct deposited in a special Bangkok Bank saving account.  It is supposed to take about 3 months to have it implemented.  Since BBL has a New York branch with a bank routing number, the SSA can easily send the monthly payments to the account, and they do it using the correct IAT format.

Bangkok Bank requires a special account, separate from any other account.  This direct deposit account requires the individual to go to a branch, and show identity proof to withdraw funds.  You can also have other funds directly deposited (such as TransferWise transfers whether funds from abroad or local transfers, even by doing it online.  (I did one by mistake and had to go to a branch and get my money out of the account.)

In my haste before finding out about TransferWise, I set up one of those accounts.  I applied through the BBL Branch in KhonKaen to submit a direct deposit request to SSA back in September.  Supposed to take 3 months, right!  It's been over 10 months and no direct deposit, thank goodness!  Hopefully the application has expired.

TerryLH

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Re: Change to Deposit Procedure to Bangkok Bank New York
« Reply #104 on: July 11, 2019, 07:44:41 AM »
I had Bangkok Bank fill out the form for direct SS deposit.  I sent it to the Manila SS Benefits office where it was signed for 29 May. 
My SS was deposited in my account 3 July.

You don't need to go through the NY office. 
Use the Swift code for your bank and it goes straight to your account without being routed through NY.
I believe there are now several Thai banks that you can do this at.

Terry