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BANGKOK 20 February 2019 06:12
Steveinphrae2

social security

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Hello all

I have been living here for almost 4 years now. What  I want  to do is have my social security sent here to my account with Bangkok bank as a direct deposit.. Can I do this  on the internet myself or do I need to go to the bank..thanks for the help.. 

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For the experts 

 

BUT, Country of origin would be good

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Social Security. Please explain your social security benefits from which country ?

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You have to go to the bank in person to set up a direct deposit account. 

You will need to complete SF1199A direct deposit form that they will send to the SSA office in Manila.

Info is here on their website. 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

 

 

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Keep in mind effective 1 Apr 19 even payment of U.S. govt payments such as social security, military retirement, etc., will be rejected/stop working.  Before it was only transfers from U.S. banks, but it's now expanded to even direct deposits as of a few days ago. 

 

More info here.

 

 

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12 hours ago, Pib said:

Keep in mind effective 1 Apr 19 even payment of U.S. govt payments such as social security, military retirement, etc., will be rejected/stop working.  Before it was only transfers from U.S. banks, but it's now expanded to even direct deposits as of a few days ago. 

The wording on that page are little ambiguous. It says this.

Quote

To do this we need to obtain information as described below to the relevant US government agency to your transactions in the IAT format.

Important Note
1.Your name and physical address in Thailand;
2.Your bank account number and the name and address of your  Bangkok Bank branch in Thailand; and
3.The 9-digit routing number of Bangkok Bank New York branch, which acts as the intermediary in the transaction, which is 026008691

They will already have that info from when you set up the direct deposit account and completed a SF1199A.

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They will already have that info from when you set up the direct deposit account and completed a SF1199A.
That info is indeed on the SF1199A, unfortunately that info is not provided in the specific fornat or provided at all like the person's address required for an Interational ACH Transaction (IAT).

Plus the ACH payment has to use the three digit code of IAT to signify an international transaction but instead the three digit code of PPD is used for social security payments signifying a Domestic ACH Transaction. No proper code (I.e., IAT) and other req'd info in the ACH transaction file and the transfer will be rejected starting 1 Apr 19.

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1 hour ago, Pib said:

Plus the ACH payment has to use the three digit code of IAT to signify an international transaction but instead the three digit code of PPD is used for social security payments signifying a Domestic ACH Transaction. No proper code (I.e., IAT) and other req'd info in the ACH transaction file and the transfer will be rejected starting 1 Apr 19.

I don't think it will happen. I suspect that the  SSA and Bangkok Bank may get things sorted out. Plus there are many with military retirement payments coming in the same way.

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6 hours ago, ubonjoe said:

I don't think it will happen. I suspect that the  SSA and Bangkok Bank may get things sorted out. Plus there are many with military retirement payments coming in the same way.

Hope you are right...but that's only a hope.  I do know from my telecon with the NY branch rep last week...a rep who worked in their transfer dept and who was very knowledge of the situation said they still trying to find a  resolution, but none found yet. But they were also getting ready to send out a "Notice of Change" to the SSA, Defense Finance Accounting Services which pays military retirement, and other govt agencies saying they can no longer accept payments after 1 Apr 19 unless transmitted in IAT format.

 

Unfortunately the easy answer for SSA, DFAS, and other govt agencies is OK if folks do not have another U.S. bank account we can send their payment to then those folks will need to open a DirectExpress account which can be opened with a mere phone call and it does not matter where they live in the world...what foreign address they have...that's the main purpose for creation of the DirectExpress card.

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15 hours ago, Pib said:

Unfortunately the easy answer for SSA, DFAS, and other govt agencies is OK if folks do not have another U.S. bank account we can send their payment to then those folks will need to open a DirectExpress account which can be opened with a mere phone call and it does not matter where they live in the world...what foreign address they have...that's the main purpose for creation of the DirectExpress card.

That is an expensive option. See the following. To get $1000 would cost $30 + $3 + 220 baht for the ATM fee here.

 

image.png.51bfdd7519f479976e967180f914f67e.png

Source: https://www.usdirectexpress.com/faq.html

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30 minutes ago, ubonjoe said:

That is an expensive option. See the following. To get $1000 would cost $30 + $3 + 220 baht for the ATM fee here.

 

image.png.51bfdd7519f479976e967180f914f67e.png

Source: https://www.usdirectexpress.com/faq.html

Yes it is...fully aware it's expensive.   But if a person does not have a U.S. bank to have their payment go to the DirectExpress card is all they are left with because the justification to have the payment mailed by check pretty much requires justification that you live in a place on Earth with no access to ATMs along with justification of why only a check would work.

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47 minutes ago, ubonjoe said:

That is an expensive option. See the following. To get $1000 would cost $30 + $3 + 220 baht for the ATM fee here.

 

image.png.51bfdd7519f479976e967180f914f67e.png

Source: https://www.usdirectexpress.com/faq.html

Suspect you could use a money transfer service, such as Transferwise, to Thai account and avoid the 3%/overseas fees involved.  Expect would be cheaper than trying to use card directly at foreign ATM for cash and not have an ATM limit of 20-30k.

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I have done a little research about the International ACH Transfers.

From pages 4 and 5 of this document. 

https://www.nacha.org/system/files/resources/IAT_Scenarios_Simplified_Final_03_06_09.doc

 

image.png.9be645d955d078c8f0e13b4f85f017e0.png

image.png.ce05b141f9827a93029a36fd1d7878ae.png

Source of document. https://www.nacha.org/content/international-ach-transactions-iat-solutions-center

Not exact for the purpose but I suspect that social security payments are exempt from falling under the requirements for IAT.

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16 minutes ago, ubonjoe said:

Not exact for the purpose but I suspect that social security payments are exempt from falling under the requirements for IAT.

Guess you better contact Bangkok Bank New York and tell them they are wrong.   Bangkok Bank NY is the gateway operator for ACH payments to Bangkok Bank accounts in Thailand and their revised policy is the payments from U.S. govt agencies destined for in-Thailand Bangkok Bank accounts must be in IAT format.   Additionally, the weblink given above only gives general guidance and the documented referenced is a 2009 document.    U.S. Treasury did indeed waiver social security payments years ago....I'll try to find the post on made on that in a related thread and link it here.

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