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BANGKOK 24 January 2019 02:52
KhunFred

Does the addition of Thailand to the IDD program mean that ALL banks in Thailand can receive Social Security direct deposits??

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I've noted that Thailand will be a participant in IDD for the first time. Heretofore, Only Bangkok Bank could receive Direct Deposit of SSA payments, ostensibly because they had a branch in New York City. It would certainly be nice to be able to choose your bank. Does anyone have any info on this? I have downloaded all the documents pertaining to it and there was no mention of which banks might be included. Thanks in advance.

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We don't know yet which Thai banks will and which (if any) won't.

Your question is simply premature.

The Bangkok Bank thing is not the same thing. Those are ACH transfers.

Also since you seem to have some document, what will the Thai rules be?

At Bangkok Bank you can't have an ATM attached to the receiving account and you need to show up in person to withdraw cash.

Social Security treats some countries that way, and others not.

Will the same restrictions apply with the new setups?

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jINGTHING is correct, it is premature to wonder.   On 10 December, I received an email from the SSA office in Manila stating:  "As of this moment we can only process Bangkok Bank direct deposit accounts in Thailand."

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5 hours ago, noise said:

jINGTHING is correct, it is premature to wonder.   On 10 December, I received an email from the SSA office in Manila stating:  "As of this moment we can only process Bangkok Bank direct deposit accounts in Thailand."

So what is the difference between IDD and " only process Bangkok Bank direct deposit accounts in Thailand "?

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2 minutes ago, thailand49 said:

So what is the difference between IDD and " only process Bangkok Bank direct deposit accounts in Thailand "?

IDD is done directly from the SSA to a bank here.

The ones to Bangkok Bank are done via their New Your branch by ACH.

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7 hours ago, noise said:

jINGTHING is correct, it is premature to wonder.   On 10 December, I received an email from the SSA office in Manila stating:  "As of this moment we can only process Bangkok Bank direct deposit accounts in Thailand."

Noise, I have been trying to get in touch with Manila SSA to no avail. Do you have a current phone number for them? Some claim SSA has been closed down in Manila. I called SSA in the States and got more ignorant answers. No one seems to know anything. After receiving a warning that my once a year questionnaire from SSA was not received in June, another was sent stating I had 45 days to mail the 2nd one back to Pa. I sent it with tracking. Tracking showed it delivered to of all places, GENERAL DELIVERY, in spite the address on the envelope being correct with zip code and PO Box number. 

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7 minutes ago, featography said:

Noise, I have been trying to get in touch with Manila SSA to no avail. Do you have a current phone number for them? Some claim SSA has been closed down in Manila. I called SSA in the States and got more ignorant answers. No one seems to know anything. After receiving a warning that my once a year questionnaire from SSA was not received in June, another was sent stating I had 45 days to mail the 2nd one back to Pa. I sent it with tracking. Tracking showed it delivered to of all places, GENERAL DELIVERY, in spite the address on the envelope being correct with zip code and PO Box number. 

 

https://ph.usembassy.gov/u-s-citizen-services/social-security/

image.png.5697c8fd4fafeda80b431e1fe45ff6ed.png

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2 hours ago, ubonjoe said:

IDD is done directly from the SSA to a bank here.

The ones to Bangkok Bank are done via their New Your branch by ACH.

Thanks, I wrote this on another thread since my brother who is always in the dark a bit?  I found out tonight that his S.S. is currently as you noted being done as an ACH from New York which is what I thought since he said he was paying a small fee?

Through this process he noted to me just last week he checked his account here with Bangkok Bank his S.S. is something like 1550.00 USD, his deposit into his BB account was 48,000 baht. I remember not exactly the rate was something like 32.85, of course, that isn't what I expect but after doing the math he only got something like 31.50 by BB which I considered not a very fair rate even if there is a fee to be paid for the ACH. 

I have my check deposited into my Charles Schwab account and here in Pattaya I removed it via Aeon ATM, the rate I been getting is much better and the ATM fee is 150 which I get all back from Charles Schwab. Another reason I don't plan to make any changes for S.S.  I just hope the IDD method when in place will provide a better or fairer rate.

As noted, in the U.S. Embassy notice for ACS, it notes they are working with S.S. to get the IDD with Bangkok Bank in place sometime in late January?

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3 hours ago, KhunFred said:

 but many of us retired here because our retirement funds go farther, not because we like warm climate.

Is that the complete picture? Surely there are places as cheap or even cheaper to live than Thailand? 

A British person could live more cheaply in the UK on benefits!

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On 12/14/2018 at 11:16 AM, Jingthing said:

We don't know yet which Thai banks will and which (if any) won't.

Your question is simply premature.

The Bangkok Bank thing is not the same thing. Those are ACH transfers.

Also since you seem to have some document, what will the Thai rules be?

At Bangkok Bank you can't have an ATM attached to the receiving account and you need to show up in person to withdraw cash.

Social Security treats some countries that way, and others not.

Will the same restrictions apply with the new setups?

Actually that’s not true regarding an ATM card with a BB acct that receives ACH xfers. When I opened my BB acct I got an ATM card after requesting it and also applied for online banking, which took a little while longer to get. 

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28 minutes ago, jacko45k said:

Is that the complete picture? Surely there are places as cheap or even cheaper to live than Thailand? 

A British person could live more cheaply in the UK on benefits!

Most non-Americans don’t realize the cost of health insurance in the US. This is what drives many of us to retire overseas, especially if you’re married to a local lady or wanted to retire early.

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13 minutes ago, Hank Gunn said:

Actually that’s not true regarding an ATM card with a BB acct that receives ACH xfers. When I opened my BB acct I got an ATM card after requesting it and also applied for online banking, which took a little while longer to get. 

For a normal account that is correct. But for a direct deposit account to have SS or military retirement payments direct deposited no online banking or a ATM card is allowed.

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