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rddryden

Can you still transfer money from USA to Bangkok Bank

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I read a few months ago after April first you could not transfer funds through the New York branch of Bangkok Bank.  I Need to transfer some money And wanted to know if it is still possible.

 

does anyone have any information on this?

Edited by rddryden

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I've done it using a Swift code....The code goes to BKK bank, Bangkok then into my account number....BKKBTHBK is the Swift code....

 

I also have a SCB account & transferred a small amount of money the same way, as a backup trial balloon, but haven't followed up via ATM to see how it went through.....It's basically an old account I've under used but might be valuable for a back up....

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Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

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55 minutes ago, how241 said:

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

Transferwise are significantly cheaper than Bangkok Bank rates for any amount and the exchange rate is way better too. Silly.

Edited by bipper
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14 minutes ago, bipper said:

Transferwise are significantly cheaper than Bangkok Bank rates for any amount and the exchange rate is way better too. Silly.

Check again and you will find Transferwise is MANY times more expensive for large transfer amounts .  They will charge $100-$200 or more as the transfer amount go into the thousands.  Bangkok bank has fixed fees  $10-$20  up to 50K...BUT  Transferwise will give you a Much better exchange rate.   Moot point as Bangkok Bank will stop on June 30.

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1 hour ago, how241 said:

Yes,  TransferWise  works Great.  Their fees are smaller if you only transfer $1200 USD  or less,  otherwise they quickly charge more than Bangkok Bank does. 

I haven't found that to be the case at all (that they quickly charge more than Bangkok Bank).  I just went to Transferwise site, plugged in 100,000 baht for the amount to be received in Thailand, and (from the US) the fees would be about $26.00.  The exchange rate would be 31.77 baht per USD. Here is a copy and past from XE.com "

27 May 2019 08:30 UTC - 28 May 2019 08:35 UTC

 

USD/THB close:31.77066 low:31.75192high:31.84350" . 
 
 The amount sent in this hypothetical case is $3,174.47, and the total fees would be $26.85.  That's less than 1% for the fees, and getting the full exchange rate.  From my experience, that's one helluva savings over the banks.  
Edited by friendphil
to add a link
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IN fact, Transferwise gives an incentive to share your experience with others.  Please use this link if you care to give this service a try, and both you will save on your first transfer.  

transferwise.com/u/philipl89

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32 minutes ago, how241 said:

  Moot point as Bangkok Bank will stop on June 30.

BKK Bank isn't eliminating all transfers, only domestic ACH transfers.  Wire transfers can still be sent from your USA bank through the BKK Bank in NY onwards to Thailand.  I'll still be sending ACH transfers past 30 June just to see if they've followed through.    

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If you go back and read the letter they sent you I believe it has something to do with US social security. I make 3-4 transfers a month with no issues.

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Also compare rates to OFX.com they are excellent too. 

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I sent the Bangkok Bank registered letter to Social Security in the Philippines in May. I did advise SSA of the need for continuous, regular monthy FTT deposits to satisfy immigration. Their reply was that they were working on a number of direct deposit issues. I will contact SSA Phillipines in early June to see if there is a resolution. If nothing is conclusive, I will switch back to direct deposit to a US account and do a SWIFT transfer.  

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I successfully transferred $5K last week from my US bank account to my BBL account via US domestic ACH.  Funds transfer ordered on Tues, deposited in my BBL account Thurs.  I will do the same next month but am cognizant of the 30 June deadline.

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34 minutes ago, friendphil said:

IN fact, Transferwise gives an incentive to share your experience with others.  Please use this link if you care to give this service a try, and both you will save on your first transfer.  

transferwise.com/u/philipl89

And I presume you will

be one more new TransferWise member away of making your first referral reward depending on the currency you use... £ used for demo purposes...  

 

 

8F3BC26C-F11B-43D2-9241-0A670B75937B.png

ED05ED30-284C-4F8B-BE86-FA1E5D0BCE29.png

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53 minutes ago, friendphil said:

I haven't found that to be the case at all (that they quickly charge more than Bangkok Bank).  I just went to Transferwise site, plugged in 100,000 baht for the amount to be received in Thailand, and (from the US) the fees would be about $26.00.  The exchange rate would be 31.77 baht per USD. Here is a copy and past from XE.com "

27 May 2019 08:30 UTC - 28 May 2019 08:35 UTC

 

USD/THB close:31.77066 low:31.75192high:31.84350" . 
 
 The amount sent in this hypothetical case is $3,174.47, and the total fees would be $26.85.  That's less than 1% for the fees, and getting the full exchange rate.  From my experience, that's one helluva savings over the banks.  

Your right !!!    It's a very good rate and deal.   Thanks

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