Americans with Direct Deposits Bangkok Bank

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ladda3904
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Americans with Direct Deposits Bangkok Bank

Post by ladda3904 » July 1, 2015, 5:37 pm

Lets see how good my math is. $720,000/12(months per year)/5400 customers. $11.11 average per person. Take out the $5.00 fee that seems to be known. Leaves $6.11 average per person. What do others charge for a transfer?



Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » July 2, 2015, 7:46 pm

First the above figures do not include any other transfer, Direct Deposit such as VA, and all other Military Retirements.
The issue is their failure to follow all US Laws on disclosure of the amount of all fees prior to accepting the first deposit. Given to you in writing in a form that you may keep and in your language.
They have already agreed in writing that they are in fact bound by US Laws.
Yes single individual transfers cost more but bulk transfers cost them very little.
They also signed agreements with the US Government to follow those Laws which they have not done.
Their Web site does not constitute the required disclosure. Nor does their so called account application.
The so called $5.00 is the smallest fee. My total fees exceed $28.00 US taken without my prior knowledge.
Not one individual has been able to furnish any copy of any disclosure given to them at the time of opening an account that spells out the amounts of all fees, terms and conditions etc.
If you have one then please post it. Not their so called application which disclosures nothing nor their web site.

ladda3904
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Americans with Direct Deposits Bangkok Bank

Post by ladda3904 » July 3, 2015, 7:29 am

Please understand I am not trying to create animosity. It is immaterial what the swift transfer costs BB. Banks borrow from the government then charge exorbitant rates for credit card fees. Nothing illegal about that. In my case it is much cheaper to use BBNY than any other means I have found. I knew when I signed up there would be fees. I reviewed those fees with other alternatives prior to opening the account. Periodically I check to see what I am charged. If it looks out of line, I call the bank. This has not happened to this point. The rates are available and there is nothing to stop a person from changing banks if they are unhappy.

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » December 25, 2015, 10:22 am

I have not updated this since it was Filed in Court.
For the information of all concerned Bangkok Bank wants to go into a settlement before a NY Judge. They finally decided they did not want to be before a Jury Trial, in all probability based on their Attorneys advise or they decided they would like to settle. The Judge determines the final outcome and sets Attorneys fee not on a percentage but based on actual expense. So my Attorney does not get a very large percentage as some thought.
I will be present at the hearing via Skype.

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » June 12, 2016, 5:04 am

The notice to all class action members( Americans with Direct Deposit to BBK NY) on the settlement is now being sent out various ways to all, You are not required to do anything, but if you want to withdraw from it you must notify as per the notice. It may be mailed, emailed etc. but it is being prepared by Bangkok Bank NY. It cost you nothing nor are you required to obtain an attorney.

Jello
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Americans with Direct Deposits Bangkok Bank

Post by Jello » June 12, 2016, 3:57 pm

I e-mailed the law firm you quoted back when you started this thread.
Didn't receive a response then, and haven't received anything recently.
UFF DA!

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » June 16, 2016, 12:44 pm

As stated it has to be sent out by Bangkok Bank NY and you should know the mail time. My Attorney advised me by email that the notice is now being done. Of course if Bangkok Bank Thailand is slow in furnishing NY any and all addresses it will of course slow it down. Just sit back and wait. If you choose to withdraw the detailed instructions are to be included, but withdrawing gets you nothing.

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » June 21, 2016, 4:59 pm

I thought you did not have a direct deposit with Bangkok Bank based on your previous comments and posts. The Law suit was for Americans with Direct Deposit from Various Government Agencies and some who had retirements that were direct deposit from their companies to Bangkok Bank. If I am correct that you may do Bank to Bank transfers you are to the best of my knowledge not a part of this Law Suit.

Jello wrote:I e-mailed the law firm you quoted back when you started this thread.
Didn't receive a response then, and haven't received anything recently.

Jello
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Americans with Direct Deposits Bangkok Bank

Post by Jello » June 21, 2016, 9:33 pm

Yep, your right. (Been awhile ago) I emailed her and said I do transfers through bkb NY and enquired about the law suit.

I guess the non-response was my answer. :)
UFF DA!

bumper
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Americans with Direct Deposits Bangkok Bank

Post by bumper » June 22, 2016, 4:48 pm

I just stepped into this My question is $350.000.00 for all the accounts transferred here . I haven't found the direct deposit fees to be excessive cheaper then using an the ATM in my case. The only thing I don't like abut it is I have to go there and make withdraw each month. If I'm out of t Thailand no access to the money

If that wasn't for the total of all accounts that must have been one heck of a transsfer :lol:

bumper
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Americans with Direct Deposits Bangkok Bank

Post by bumper » June 22, 2016, 5:08 pm

Just noticed the4 figure on Social Security. That might be off a bit, mine is my Police Retirement. Others have VA payments. A lot widows use the service. Yep $10.00 seems high but that is the equal to two ATM fees. It would cost a lot more for me to just use the ATM.

They are going to get their money one way or another
I reserve the right to be wrong, mispell words type badly. leave words out of sentences because my mind works faster then my fingers. To be an OLD GIT I've earned it

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » June 24, 2016, 4:26 am

I will attempt to give you a little bit of the History. Americans who have Direct Deposit not only do the have to fill out Bangkok Banks application they must also fill out the US Direct Deposit form. That form is also required to be signed by the Bank.That form clearly shows your deposit are in fact going to Bangkok Bank NY. It is show on their web site as Deposit Accounts (restricted). The NY Branch under US Laws is required to fully disclose upon opening the account a full disclosure of fee's including the amount of in writing. Bangkok's application does not as it only states fee's. The US Treasury can only do ACH Transfer to NY and that is where that account is maintained. It is the exact same number

RLTrader
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Americans with Direct Deposits Bangkok Bank

Post by RLTrader » June 26, 2016, 11:48 am

I have Bangkok Bank direct deposit and all I know is that when it started and the 1st deposit arrived. I went to the lady on 2nd floor and she printed out a copy of the transfer. It had a $5.00 US dollars fee at Bangkok Bank, New York USA and a 400 baht Bangkok Bank Thailand fee. It also gives a better exchange rate than I get with ATM card.

If my widget says that the rate is now 35 baht to the dollar, with my ATM card I will be lucky to get 33.50 plus 150 baht fee, while on the direct deposit I will get around 35.20

I think my widget gets its numbers from Yahoo and they will never match the buy / sell rates on the board at Bangkok Bank, sometimes they are not even close other times, they are real close.

When I use a US credit card, which is often, the rate is really close to what my widget says. After using it I key in the baht amount and it gives me the dollar amount, I record that in Quicken and when I check the CC account its within pennies.

Being that US Big Banks are crooks and that fraud is their business model, I am fairly happy with Bangkok Bank

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Stantheman
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Americans with Direct Deposits Bangkok Bank

Post by Stantheman » June 26, 2016, 8:44 pm

RLTrader wrote: ....I think my widget gets its numbers from Yahoo and they will never match the buy / sell rates on the board at Bangkok Bank, sometimes they are not even close other times, they are real close....

One reason the rate can be different is the rates displayed by sites like Yahoo are from money exchange sites who base rates on very large sums exchange between banks not individuals like us.

RLTrader
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Americans with Direct Deposits Bangkok Bank

Post by RLTrader » June 27, 2016, 9:09 am

Stantheman wrote: One reason the rate can be different is the rates displayed by sites like Yahoo are from money exchange sites who base rates on very large sums exchange between banks not individuals like us.
Hmm, maybe why When I use a US credit card, the rate I get is really close to what my widget says.

Peter USNR
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Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » July 7, 2016, 11:30 am

For all concerned the letter from Bangkok Bank is starting to arrive I have received mine and a neighbor also.

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mak
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Re: Americans with Direct Deposits Bangkok Bank

Post by mak » August 1, 2016, 12:31 pm

Peter USNR wrote:For all concerned the letter from Bangkok Bank is starting to arrive I have received mine and a neighbor also.
I received mine last week.

Peter USNR
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Re: Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » August 27, 2016, 6:44 pm

The Court in New York has approved the settlement it becomes final 23 Sept which is 30 days after the approval. I would expect deposit made in October to be fee free from NY

bumper
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Re: Americans with Direct Deposits Bangkok Bank

Post by bumper » August 27, 2016, 7:04 pm

My PERS retirement goes in there, cheaper then doing ATM withdrawls The only thing I don't like I have to be there to take the money out each month. Cant have an ATM card on that account. Going to be a real problem if I'm sick and I csnt get there
I reserve the right to be wrong, mispell words type badly. leave words out of sentences because my mind works faster then my fingers. To be an OLD GIT I've earned it

Peter USNR
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Re: Americans with Direct Deposits Bangkok Bank

Post by Peter USNR » August 28, 2016, 8:09 am

Yes Bangkok Bank denies all Americans an ATM card yet many other Foreigners have one on their account and similar deposit and rules. I know the reason why they do this. Once before a Thai wife hid her husbands death and kept on taking the money using his ATM card. Eventually she got caught but Bangkok Bank said they were the ones who had to repay that money and then go after the Wife. Also if sick and in Hospital I understand you can get a letter from the Hospital and have your Wife go for you. With Account book, passport and her ID.

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