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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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Had my two on line ACH transfers from my US based bank to BBL in New York (c/o BBL domestic sub-branch account in Thailand) rejected back the same day Friday 2 Aug; return remarks per my bank was ACH number was incomplete. Had several similar transfers go through no problem on 31 July. Maybe the day has arrived for non-IAT rejects?

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Posted (edited)
2 hours ago, Shoprowhouse13 said:

Had my two on line ACH transfers from my US based bank to BBL in New York (c/o BBL domestic sub-branch account in Thailand) rejected back the same day Friday 2 Aug; return remarks per my bank was ACH number was incomplete. Had several similar transfers go through no problem on 31 July. Maybe the day has arrived for non-IAT rejects?

 

Could be....although BBL did say 1 Sep 2019 for such bank transfers (but 1 Jan 2020 for govt/private pension transfers) was suppose to be the date.  But ever since their 1 Apr 2019 deadline was passed they also said that they would "try" to continue to allow non-IAT format transfers until 1 Sep 19/1 Jan 20.  With that "try" word thrown to me that mean they might have to close the door earlier....and closing the door on the first day of a new month would probably be likely.

 

Were these rejected transfers done using an ibanking transfer link "you already had setup?"   Repeat, already setup.   I expect they were but just need to ask. 

 

If already setup then the routing number and account number were already correct in the transfer link and would not have been something you could have entered incorrectly/incompletely.   

 

When ACH transfer are rejected the rejecting bank uses ACH Return Codes like R01 to R85.    Based on your description of "ACH Number Was Incomplete" it sounds like it might have been reject code R13 quoted below.  

Quote

ACH Return Code R13 – Invalid ACH routing number
Description: Entry contains a receiving DRI identification or gateway identification that is not a valid ACH routing number    

 

 

Normally if an ACH transaction is being rejected due to an "International ACH Transaction" format error then code R80 thru R85 would be used.

Quote

ACH Return Code R80 – IAT entry coding errors
ACH Return Code R81 – Non-participant in IAT program

ACH Return Code R82 – Invalid foreign receiving DFI identification
ACH Return Code R83 – Foreign receiving DFI unable to settle
ACH Return Code R84 – Entry not processed by gateway
ACH Return Code R85 – Incorrectly coded outbound international payment

 

 

And by chance where you said, "Had my two on line ACH transfers from my US based..." if you meant trial/micro deposit like in setting up a new transfer link, BBL started rejecting new ACH transfer links mid 2018.

 

Edited by Pib

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Posted (edited)

ACH transfer on August 1st posted to my Thai BB account on August 2.  This might be last transfer using this method? 

Edited by ThaiBob

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Two long established accounts that I had been transferring money to for years; sent money on 31 July and had no problems. The person I was on line chatting with was an after hours help desk person that just made that statement about routing number. I'll call tomorrow stateside time and ask the normal day crew whats going on. Thanks for the R series codes; nice to know what I need to drill them for when I have someone on the phone. 

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16 minutes ago, richsilver said:

I received my funds into Bangkok Bank via ACH this morning.

In what context?  From a US Bank?  Transfer requested date?

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I just received my monthly ACH through BKK Bank NY, sent 2 Aug, received 6 Aug.  August appears to be ok for personal non-IAT....for now.

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This may or may not be relative and perhaps even covered elsewhere but on my last Transferwise transfer, I noticed that they have added as one of the reasons for your transfer, 'Funds for long term stay in Thailand'.   The deposit showed international transfer but then again most of my other ones did as well.  I had submitted this recommendation on one of their questionnaires I received from them.   Again apologizes if this is out of place or belongs in another post somewhere. 

Screenshot_20190806-045027_TransferWise.jpg

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