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Author Topic: Deposits to Bangkok Bank New York  (Read 732 times)

Rex (Admin)

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Deposits to Bangkok Bank New York
« on: October 12, 2017, 11:45:05 AM »
Thu 12 Oct 2017, 11:36 am

Hi Frank, All,

As it was not something I needed at the time, I only paid minimal attention to this topic when it was originally posted.  Now, it pertains.

1.  Previous topic was regarding social security payments deposited to Bangkok Bank New York . . . However, I assume that anyone can transfer/deposit money this way, not just social security?  Is that correct?

2.  What does the payer need?  Just my name,  the account number of my Bangkok Bank in Khon Kaen and the routing number for Bangkok Bank in New York?   The transaction would occur just like any other deposit or bank-to-bank transaction between banks in the U.S.?

Is it to my advantage to have the funds deposited in dollars or in baht?  Or is that even an option?

Thanks for an update.
« Last Edit: October 12, 2017, 11:46:49 AM by Rex (Admin) »



avvocato

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Re: Deposits to Bangkok Bank New York
« Reply #1 on: October 12, 2017, 12:44:25 PM »
I believe your answers are here:
http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx
I use this service to transfer money from my US Bank to my BBK account instead of a normal international wire transfer.
« Last Edit: October 12, 2017, 12:51:39 PM by avvocato »

screamer

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Re: Deposits to Bangkok Bank New York
« Reply #2 on: October 12, 2017, 01:35:27 PM »
This is what I got (and used) from the BKK bank people in the ***UK***.

But look at the bit at the end, I cost me a huge amount to do it as per the main bit (about 300 to send 10,000.

FUNDS TRANSFER
 
We can send your funds from the UK to any account with Bangkok Bank in Thailand.  You can instruct your bank (or use your internet banking) to transfer the funds to us (via the UK BACS / Faster Payment system) for onward transmission to the account in Thailand.  Funds will be credited to the account in Thailand next working day after we receive them in London; our cut-off time is 4.00 p.m.  Currently, we charge GBP15.00 for this service which we will deduct from the proceeds before remitting to an account in Thailand.  We will convert the funds to THB in the UK at our very competitive exchange rate before transferring.  If you would prefer, we can remit the funds in GBP so that the conversion is done in Thailand, but for this we charge GBP20.00 and there will be an additional charge in Thailand of up to THB500.  
 
You will need to give your bank the following details:
 
1) To transfer funds via BACS/Faster Payment to Thailand in THB at a charge of GBP15.00 where we convert in London at our exchange rate:
Sort Code:               60 93 98
Account Number:    92 00 10 00
Credit/transfer to/payee:     [Name & last name of the person receiving the funds in Thailand. DO NOT PUT BANGKOK BANK] (example: John Smith)
Reference:              [The 10-digit Bangkok Bank account number in Thailand, followed by BKKB]    (example:  1234567890BKKB)
 
2) To transfer funds to Thailand in GBP at a charge of GBP20.00 plus 0.25 % of the amount in the Thai Baht currency (minimum of THB 200, maximum of THB 500 ).  This will be converted in Thailand at the TT rate:
Sort Code:               60 93 98
Account Number:    92 00 20 00
Credit/transfer to/payee:   [Name & last name of the person receiving the funds in Thailand.  DO NOT PUT BANGKOK BANK] (example: John Smith)
Reference:              [The 10-digit Bangkok Bank account number in Thailand, followed by BKKB]       (example:  1234567890BKKB)
There is a difference in the account number.  The TT rate is only available in Thailand.  On larger amounts the customer is usually financially better off by sending in GBP.
Details can also be found on our website BANGKOKBANK.COM
Please do not hesitate to contact us if we may be of further assistance
Please note that the final amount credited to your account will vary according to the conversion option chosen, as the exchange rates used by London Branch and Head Office in Thailand can differ.
 
If you send more than GBP2,500.00 I would suggest changing the account number to 92002000 (from 92001000) because although we will charge 20 (and Thailand THB200-500) you will get the rate in Thailand (next day) which will more than likely be higher and you would be better off.

fceligoj

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Re: Deposits to Bangkok Bank New York
« Reply #3 on: October 13, 2017, 05:30:28 PM »
You Brits/etc are sure being sort of ripped off by what you said Screamer.  In the US, my bank charges me nothing and the New York Branch of Bangkok Bank charges $5 for transferring less than $2000.  For amounts from $2000 to $10,000, they charge $10.  Of course then BBL here in Thailand charges 0.25 % of the amount transferred in the Thai Baht currency (minimum of THB 200, maximum of THB 500 ).

screamer

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Re: Deposits to Bangkok Bank New York
« Reply #4 on: October 13, 2017, 07:32:04 PM »
I was trying to feed the account before applying for a visa, and it cost me 300 to transfer 10,000.
Using the 2nd BKK London number it was better but still expensive.

I will go back to my UK bank which charges a flat rate of 25 no matter what the amount.
I haven't done that for a long time so will have to check the IBAN/Swift stuff for my BKK bank account in Bangkok.

Savannah20

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Re: Deposits to Bangkok Bank New York
« Reply #5 on: October 13, 2017, 09:10:23 PM »
Answer is Yes to question 1.

Answer is Yes to question 2a

Answer is Yes to question 2b

If your Bangkok Bank account is a baht account that is what you get. If your Bangkok Bank account is a US dollar account that is what you get. (I am guessing here since I have never had a US dollar account at Bangkok Bank).

The process is fairly easy. I use Bank of America. Login to your bank account in the USA and create your Bangkok Bank account as an account you will Transfer money to. Once created you make a DOMESTIC transfer to the New York Bangkok Bank. I use the "3 day transfer" Bank of America offers for which they charge $3. The 3 days is to New York. To transfer immediately is around $25.

My experience has been to receive a transfer rate at about 0.40 less than the published rate. Example, exchange rate is 33.40 I would get 33. The 0.40 covers the fees charged by Bangkok Bank. So if I sent $2000 I get 66,000 baht deposited into my Khon bank account about 5 or 6 days later.

Never had a hiccup and have done it many, many times.

Dave G

Shipm8te

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Re: Deposits to Bangkok Bank New York
« Reply #6 on: October 14, 2017, 05:47:21 AM »
This is the best money transfer deal going that I know of.  Have been using it for 15 or more years and never a glitch.  I send money over on the last working day of the month and at other times if I want to make a special purchase.  At my local bank in the U. S. I have it set up as a monthly bill payer option which they offer.  There is no charge for this at my bank as they save on check processing fees.  I do not recommend sending social security or other U. S. government pays in this manner as the account which these funds go to have some restrictions.  See the Bangkok Bank item referenced above.

Jimmy

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Re: Deposits to Bangkok Bank New York
« Reply #7 on: December 08, 2017, 12:07:03 PM »
I make 2 transfers a month they always arrive never had an issue and my bank does not charge me to send ach