Bangkok Bank Direct Deposits

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Peter USNR
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Bangkok Bank Direct Deposits

Post by Peter USNR » July 1, 2019, 4:55 pm

Those with Direct Deposits from the US Treasury ie Military, VA etc due on the 1st. In the past the Bank would not post when the first is a holiday. That has now been changed your money will be deposited even if it is a holiday here. I hope they have learned and continue to do this.



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sgt
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Re: Bangkok Bank Direct Deposits

Post by sgt » July 4, 2019, 5:48 pm

Peter, do you know how that is coded? In other words would immigration accept it as foreign. I got a bit of a screwing from TransferWise yesterday as the transfer showed interbank not FTT. How about fees and exchange rate, any way of finding out? I would hope it would be at least the mid rate, not the one shown on their website, especially with the USD not worth a plug nickle right now.

ezrider
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Re: Bangkok Bank Direct Deposits

Post by ezrider » July 14, 2019, 6:05 pm

main branch BangkokBank Prajak Rd. Upstairs at foreign transaction counter. Use your US debit card to bring over monthly funds to your bank account and ask for the FTT code to show in your book. Been doing that for a few months now

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semperfiguy
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Re: Bangkok Bank Direct Deposits

Post by semperfiguy » July 14, 2019, 6:40 pm

ezrider wrote:
July 14, 2019, 6:05 pm
main branch BangkokBank Prajak Rd. Upstairs at foreign transaction counter. Use your US debit card to bring over monthly funds to your bank account and ask for the FTT code to show in your book. Been doing that for a few months now



Hi Ezrider! Just a few questions if I may. Are you referring to doing a cash advance off the ATM debit card and then depositing the Thai Baht into your savings account, and asking the staff to code the deposit as an FTT? I heard that the cash advance has no fee, so is that true? You should also be getting the the exchange rate that VISA card (if you're using a Visa ATM Debit Card) gives on the day that the transaction is recorded with your US bank which is usually the following day. One can compute that rate on the following website for US issued cards:

https://usa.visa.com/support/consumer/t ... lator.html

My Visa ATM card carries with it a 1% Foreign Transaction Fee on such transactions, so don't forget to include that in with your cost of the transfer if it also applies to you.

I would like to try this after I hear back from you. I used to do this with Krungsri Bank until they started levying a 200 Baht fee for cash advances with a teller on a US ATM card.
"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf". - George Orwell

ezrider
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Re: Bangkok Bank Direct Deposits

Post by ezrider » July 15, 2019, 4:24 pm

I've used a Schwab Visa debit card for decades. No foriegn transaction or ATM fees worldwde. Any fee charged by a foreign bank at machjnes has always been reimbursed back into my Schwab acc. next day. Not many banks in the world offer that so i highly recomend opening a Schwab account especially if you're expat. Their 24/7 toll free customer is fabulous as well. You usually get Denver or Phoenix- they sort things out quick.
Been doing this at BangBank for years: handing the card over upstairs, entering PIN, etc. - depositing all into my BBank acc. Up untill a few mos. ago the code entered in my book was DEP. That was fine till the embassy income statements stopped. Since then ive politely asked the ladies to please enter the FTT code in my book to comply with imm. which they have done for the past few mos. for which im grateful. Hope that helps.

Peter USNR
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Re: Bangkok Bank Direct Deposits

Post by Peter USNR » September 2, 2019, 7:10 am

sgt wrote:
July 4, 2019, 5:48 pm
Peter, do you know how that is coded? In other words would immigration accept it as foreign. I got a bit of a screwing from TransferWise yesterday as the transfer showed interbank not FTT. How about fees and exchange rate, any way of finding out? I would hope it would be at least the mid rate, not the one shown on their website, especially with the USD not worth a plug nickle right now.
A US Treasury transfer is coded FTT but only theirs directed to Bangkok Bank, any other means of transfer is not. Unsure how immigrations would accept it since it is not deposited in Thailand but deposited in the US and then Transferred. Sorry for the late reply but UdonMap never advised me or your reply.

Peter USNR
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Re: Bangkok Bank Direct Deposits

Post by Peter USNR » September 2, 2019, 7:23 am

semperfiguy wrote:
July 14, 2019, 6:40 pm
ezrider wrote:
July 14, 2019, 6:05 pm
main branch BangkokBank Prajak Rd. Upstairs at foreign transaction counter. Use your US debit card to bring over monthly funds to your bank account and ask for the FTT code to show in your book. Been doing that for a few months now

FTT stands for Foreign Telegraphic Transfer if you are doing the transfer and getting the Bank to code that in your Book as an FTT a debit card withdrawal is not an FTT and someone at the Bank might be getting in trouble if caught.

Hi Ezrider! Just a few questions if I may. Are you referring to doing a cash advance off the ATM debit card and then depositing the Thai Baht into your savings account, and asking the staff to code the deposit as an FTT? I heard that the cash advance has no fee, so is that true? You should also be getting the the exchange rate that VISA card (if you're using a Visa ATM Debit Card) gives on the day that the transaction is recorded with your US bank which is usually the following day. One can compute that rate on the following website for US issued cards:

https://usa.visa.com/support/consumer/t ... lator.html

My Visa ATM card carries with it a 1% Foreign Transaction Fee on such transactions, so don't forget to include that in with your cost of the transfer if it also applies to you.

I would like to try this after I hear back from you. I used to do this with Krungsri Bank until they started levying a 200 Baht fee for cash advances with a teller on a US ATM card.

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Re: Bangkok Bank Direct Deposits

Post by RLTrader » September 2, 2019, 11:28 am

Got a feeling I should stay out of this, hard to make sense of it all, but ...

I do transfers from a US Bank thru NY Bangkok Bank to Udon Bangkok Bank and it prints in my bank book as FTT

Peter USNR
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Re: Bangkok Bank Direct Deposits

Post by Peter USNR » December 6, 2019, 6:20 pm

I have just been advised by Bangkok Bank that effective January that pension payments From DFAS Defense Finance Accounting System payments will be returned if they are not coded as an IAT. They are an agency under the DOD some Military retires, surviving spouse and dependents are paid under this system. Most payments from the Treasury Department are coded this way. I guess to insure you should enquire at your Branch and check your Bank Book to see how they are coded. IAT is an International (ACH) Transaction.

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Stantheman
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Re: Bangkok Bank Direct Deposits

Post by Stantheman » December 6, 2019, 8:02 pm

Peter USNR wrote:
December 6, 2019, 6:20 pm
I have just been advised by Bangkok Bank that effective January that pension payments From DFAS Defense Finance Accounting System payments will be returned if they are not coded as an IAT. They are an agency under the DOD some Military retires, surviving spouse and dependents are paid under this system. Most payments from the Treasury Department are coded this way. I guess to insure you should enquire at your Branch and check your Bank Book to see how they are coded. IAT is an International (ACH) Transaction.
With the U.S. Embassy not providing the income letter that this would not matter as everyone from U.S. will need to show the money in the Thai bank or does immigration still want to see where the 400k/800k baht is coming from. If it does how will they know if funds have been sitting in bank for 5 or 6 years.

Peter USNR
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Re: Bangkok Bank Direct Deposits

Post by Peter USNR » December 15, 2019, 8:09 am

sgt wrote:
July 4, 2019, 5:48 pm
Peter, do you know how that is coded? In other words would immigration accept it as foreign. I got a bit of a screwing from TransferWise yesterday as the transfer showed interbank not FTT. How about fees and exchange rate, any way of finding out? I would hope it would be at least the mid rate, not the one shown on their website, especially with the USD not worth a plug nickle right now.
Transferwise is not an EFT or FTT Your exchange rate is pending on if the Transfer in Thai Baht. If not BBK will.

RLTrader
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Re: Bangkok Bank Direct Deposits

Post by RLTrader » January 7, 2020, 8:34 am

RLTrader wrote:
September 2, 2019, 11:28 am
Got a feeling I should stay out of this, hard to make sense of it all, but ...

I do transfers from a US Bank thru NY Bangkok Bank to Udon Bangkok Bank and it prints in my bank book as FTT
Not sure where to post this, think there was another on this, but ...

Well now 2020 and
the Good News:
my direct deposit is still working fine

the Bad News:
US Bank > NY Bangkok Bank > Udon BB not working.

Started transfer 12/29 and suppose to get here 1/3
deducted from account > notice of pending > add back into account > still pending.

So it sure looks like it didn't work.

Being that the money has been put back into my US account, have done nothing and have not received any new notice from bank as yet. Maybe they will figure out what happened and correct or tell me something in the near future? Then again maybe not. Will use ATM.

minimiglia
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Re: Bangkok Bank Direct Deposits

Post by minimiglia » January 7, 2020, 11:12 am

Bad time of year to do any bank transfers, be patient.

RLTrader
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Re: Bangkok Bank Direct Deposits

Post by RLTrader » January 10, 2020, 8:21 am

RLTrader wrote:
September 2, 2019, 11:28 am

Not sure where to post this, think there was another on this, but ...

Well now 2020 and
the Good News:
my direct deposit is still working fine

the Bad News:
US Bank > NY Bangkok Bank > Udon BB not working.

Started transfer 12/29 and suppose to get here 1/3
deducted from account > notice of pending > add back into account > still pending.

Now shows on Bank web site as "Rejected" with a code, Will guess that Bangkok Bank NY didn't like the transfer type. Guess will have to figure out how "Transferwise" works.

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