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BANGKOK 19 July 2019 21:43
Pib

Major Change Eff 1 Apr 19 in Bangkok Bank ACH Transfers

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Two friends made bank to bank transfers this week thru BBL NY and received them in their thai accounts. I decided to bite the bullet and initiated a transfer Monday. Have not received it yet.

 

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Posted (edited)

Initiated last week received today. Maybe a day or two longer due 7/4 Holiday?

 

No change, 44 page comments, consider the matter closed.

 

Route :Charles Schwab Bank Checking (ACH)- BBL NY - My home branch of Bangkok Bank, Chianng Mai.

 

Edited by Date Masamune

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12 hours ago, Date Masamune said:

 

No change, 44 page comments, consider the matter closed.

 

 

It ain't over till the fat lady sings, you just don't know when will be her last aria 

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Just received my ACH transfer which I had initiated on Monday.

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Latest goal post location:

 

Quote

Hi,
It was my understanding that domestic ACH transactions through Bangkok Bank NY, which would be forwarded to
accounts in Thailand, were to terminate as of June 30, 
2019. However, many of us here in Thailand have successfully used this service *AFTER* June 30. And these
transactions were NOT IAT coded transactions.

Question: Is there a new termination date for non IAT 
transactions? If so, when? Also, if an ACH transaction finally becomes rejected by Bangkok Bank NY, will the 
money be quickly returned -- or will there be a delay 
of some kind?

Thank you.
Quote

Dear valued customer,

Reference to your enquiry, we have been advise from New York branch (NYB) that NYB will start returning non-IAT transactions from September 1, 2019.  For direct deposit from government, state, city and private pension, NYB will start returning in January 2020.  In case that NYB returns the transactions, the remitter should receive it within the next business day, however, it's depended on their procedure on when they will credit funds back to their customer's account.

Should you require any further assistance, please do not hesitate to contact us. You can also contact our phone banking center at +66-2645-5555 (from the overseas) or 1333 (from within Thailand), a 24/7 service to acquire more information. Thank you.

Sincerely,

Web operations

 

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Posted (edited)

Alrighty....two new lines in the sand....one line for personal transfers from banks....another line for govt/private pension payments. 

 

My gut tells me these lines will indeed be the final line in sands which will be turned into high & thick walls (would make Donald salivate) to reject non-IAT transfers.....and standing on the wall will be the fat lady singing.

 

 

 

 

Edited by Pib

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Had a thought today that come 1 Sep 2019 when non-IAT personal transfers are suppose to be rejected but govt/private pension non-IAT payments still allowed till 1 Jan 2020 that Bangkok Bank may have a hard time distinguishing between a personal transfer from your financial institution or your financial institution sending you a periodic IRA/401K/pension payment since you happen to have your retirement account(s) with the same bank.

 

Whether you were initiating transfer or the bank the Standard Entry Class code would still be PPD for Prearrange Payment and Deposit.   And the sender would still be your bank with your name thrown in somewhere.   The Standard Entry Class code of IAT would not be in play since it would not be an ACH IAT payment but an ACH domestic payment.   This will probably make it hard for Bangkok Bank New York to distinguish between a personal and govt/private pension payment....would probably require manual review.  

 

So, it will not surprise me that come 1 Sep 2019 that we will see reports of a person's bank non-IAT transfer still getting thru up until 1 Jan 2020. 

 

Now come 1 Jan 2020 Bangkok Bank New York only needs to look for the Standard Entry Class code of IAT as that code is the only code allowed on an ACH "IAT" transfer.   No IAT code; transfer rejected....computer can do all of that will no manual/human review required.

 

 

 

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