No Combo with SSA!

[Tony125]

33 minutes ago, TallGuyJohninBKK said:

 

I believe, there are two different things going on here...

 

1. is the longstanding direct deposit program BKKB has offered through its NY branch for U.S. govt. payments.

 

2. is the brand new IDD (International Direct Deposit) program that the U.S. government, including Social Security, is offering to send money into various Thai banks...

 

They're not the same programs, AFAIK. The link you posted above is for the federal government new IDD deposit program, not the BKKB specific one.

 

True they are not the same , I just posted HOW to transfer your money here with new rules for those with SS, OPM or Military Gov pensions.

Here is Bangkok Bank regs:

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

 

Since your transactions are transmitted to us as an ACH transaction and process the bank is required to comply with the rules and formats developed by the Electronic Payments Association (NACHA).  The International ACH (IAT) is a special code (a Standard Entry Class or “SEC Code”) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to screen them in compliance with Office of Foreign Assets Control (OFAC) requirements.  The NACHA rules require Bangkok Bank’s New York branch, which serves as an intermediary, to ensure that payments that we receive and that are transmitted to the account of a beneficiary in another country are appropriately classified as IATs. 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

Effective from April 1, 2019, Bangkok Bank, New York branch will fully comply with the NACHA rules and will return all ACH received which do not comply with the IAT format.  

 

In oder to give  people time to comply they delayed the sending back of non IAT transfer from April 1st to Sept 1st Doný hav eto believe or check this out you will find out soon enough when your regular ACH transfer doesn't go thru. I have BankofAmerica in US and used to do monthly or whenever I wanted to an ACH transfer to Bangkok Bank . Receeived a letter saying no longer possible after April then delayed to June then Sept. Has to be in IAT format.,this is not changed by BKKBank but by US Gov using this to control money laudering and keeping control/tabs on it's citizens.

[from the home of CC]

2 hours ago, LivinLOS said:

One known one blatantly advertises it (using a Thai frontwoman to a westerner) via facebook. 

imo -  while not wanting any door to close on anyone I think all that use these methods should have a back up plan ready to go (emergency funds etc). Social media trumpeting corruption will eventually result in a major face loss for someone, somewhere and if agent office data bases are searched it could be a tsunami of tears..

[Tony125]

3 hours ago, Gumballl said:

Good for you. Seems a bit sketchy, but please don't complain when the party is over.

Guess your not aware that those here on retirement extensions in 2000 where grandfathered in to lower requirements so do not have to have 65,000 a month or 800,000 in Thai bank for their extensions. That's why he said since 2000 he and others don't have to run thru those hoops. Learn something every day.

[AjarnMartin]

5 hours ago, Gumballl said:

Where did you hear/read about the September cutoff of transfers thru BBK NYC?

 

Btw, why not just make a one-time deposit 800K into your Thai savings account? You would then not have to worry about the monthly transfers. If you do not have 800K available in your savings/portfolio, then perhaps Thailand is not the place to retire.

Gumball, you make some startling assumptions from your apparent lofty position! The difference between HAVING TO deposit and WANTING TO deposit are entirely up to the person’s personal choice.

I am fortunate in that my annual income is far in excess of any Thai Immigration requirements but I wouldn’t even CONSIDER depositing my money into a Thai Bank where it earns absolutely no interest for me. I leave my money in my bank at home and submit, for the present, my monthly income statement with associated recorded transfers to Thailand. It in no way reflects my financial ability to stay which is the stance you seem to have taken regarding other people’s financial preferences. Is this you looking down on the ‘hoi polloi’ from the comfort of your barstool?

[Tony125]

2 hours ago, Gumballl said:

Earlier I had requested info on the September 1 cutoff. So far, I only have read unsubstantiated rumors on TVF. Months ago, posts on TVF indicated the cutoff was April Fool's Day, and that retirees should consider using TransferWise. This seemed more like a commercial advertisement than anything else. Up until a month ago, I have still been able to do the ACH transfers from BofA to BBK NYC.

 

I personally have not been informed by BofA, nor by BBK (here in Thailand) of any impending changes.

I to have BofA and did ACH transfer to Bangkok Bank NY however unlike you I did recieve a letter from Bkk Bank telling me they would no longer do ACH transfers After April 1st then second letter said June now its Sept. This is caused by US Gov orders not Bangkok Bank.

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

 

Can read their website or check my post #61 for quick explanation.

[elektrified]

4 hours ago, sfokevin said:

Maybe it Pattaya/Bangkok but I have never read or heard of an agency in Chiang Mai that can arrange a “nothing needed” visa extension...

You don't get out much.

[Genericnic]

5 hours ago, Gumballl said:

Btw, why not just make a one-time deposit 800K into your Thai savings account? You would then not have to worry about the monthly transfers. If you do not have 800K available in your savings/portfolio, then perhaps Thailand is not the place to retire.

Some of us prefer not to bury 800k baht in a Thai bank account. I have sufficient funds to do it but prefer to keep it in my US brokerage account where I can use it to make money. It makes me well more than enough to offset the fees for doing monthly transfers and is fully available if I need it without putting my visa/permit to stay status at risk. Plus, as I alway note, Thailand is still a marginally 3rd world country that is less than politically stable. Trying to withdraw funds from a Thai bank in the event of a quick exit would be just one more item to deal with. Not saying that will happen but ... 

 

David

[Genericnic]

4 hours ago, boonrawdcnx said:

Yes this is really getting ridiculous especially when you have proof of the transfers.
Maybe this has been suggested already but would it help that you have your social security pension transferred to an American account and then transfer it to yourself in Thailand as an international transfer.
Hence no embassy letter needed - it’s a monthly transfer of your private funds - not a pension transfer.


Sent from my iPhone using Thaivisa Connect

This is what I currently do. I get both Social Security and a pension from the State of Texas. Neither alone is sufficient to meet the 65000 baht requirement. While SS can do the direct deposit to Thailand, Texas can not/ will not. I deposit them both in my US account and then use Transferwise to do the 65000 baht transfer once a month. Ends up in my BBL account with an FTT note. 

 

David

[elektrified]

1 hour ago, moe666 said:

The agent I use in Bangkok ask me first thing, you have all the money income or deposit. I guess some people justify there love of Thailand by constantly rerunning the old song that has never been proven. I am sure you can still find a few agents out there who can front the money for those who need it but my guess would be with the new rules a lot more risky.

They don't front any money at all!

[LivinLOS]

58 minutes ago, from the home of CC said:

imo -  while not wanting any door to close on anyone I think all that use these methods should have a back up plan ready to go (emergency funds etc). Social media trumpeting corruption will eventually result in a major face loss for someone, somewhere and if agent office data bases are searched it could be a tsunami of tears..

Blatant advertising of this is hardly new.. and its not like immigration is trying to stop the process, they are pushing people into the process.. 

 

[LivinLOS]

3 hours ago, Gumballl said:

What amuses me is those retirees that have saved up $0, presumably after 40+ years of working, and now rely only on a monthly pension (from SSA or other source). It seems that no retirement planning was done. What would be their plan if the Baht strengthens further, say 25 Baht to $1? I would bet that a slew of more people will not qualify for the extension of stay because of the 65K Baht threshold.

 

Even if immigration rules were to remain the same for the next decade, the retiree is at the mercy of the exchange rate. No sympathy from me when/if they fail to extend their stay.

The same ones who are quick to trumpet what a contribution to the Thai economy farangs are.. 

 

Starting to see even Thai middle class earnings overtake those on the bottom of the pension rung.. As soon as thats the case no wonder the officialdom starts to not want us here and increase the offerings of elite visas, 3 mil in the bank visas, etc etc.. 

[LivinLOS]

52 minutes ago, Tony125 said:

Guess your not aware that those here on retirement extensions in 2000 where grandfathered in to lower requirements so do not have to have 65,000 a month or 800,000 in Thai bank for their extensions. That's why he said since 2000 he and others don't have to run thru those hoops. Learn something every day.

wasnt that only for over 65s back then, so someone into thier 80s now ?? 

 

I suspect he simply comes for a country which still happily issues affidavits. 

[malibukid]

8 minutes ago, LivinLOS said:

Blatant advertising of this is hardly new.. and its not like immigration is trying to stop the process, they are pushing people into the process.. 

 

it's a win win for everyone. very Thai

[from the home of CC]

46 minutes ago, LivinLOS said:

Blatant advertising of this is hardly new.. and its not like immigration is trying to stop the process, they are pushing people into the process.. 

 

When they specifically mentioned agents this year in a press release was the start. IMO will take time but it's on the list so don't be surprised..

[LivinLOS]

14 minutes ago, from the home of CC said:

When they specifically mentioned agents this year in a press release was the start. IMO will take time but it's on the list so don't be surprised..

Your confusing what is said in Press releases, and what makes the rank and file immigration its daily bread.. 

I remember doing my extension on phuket and walking past the row of late model and red plated BMWs in the immigration parking lot, the officer who evaluated my application (repeatedly denied for things like 'wrong photo' and 'cant print a map' etc etc) was wearing what appeared to be a rolex.. That comes from his government salary does it ?? 

[Thingamabob]

Just place 800k baht in the bank and relax. If you don't have enough money to do that maybe you should find somewhere else to live.

[PaceArrow]

Good news, received my Retirement Extension today from Korat office, after being denied last week over the less than 12 monthly income deposits. What happened, a personal trip to the Immigration Bureau BKK yesterday with the higher ups on clarification of Police memorandum dated 26 December spelling out the guidance on waiving those months during the first year of transition period with phone calls to Div !V boss to make it happen. Very satisfied with the results, they were very nice to me today!!!! 

[IraqRon]

1 hour ago, Thingamabob said:

Just place 800k baht in the bank and relax. If you don't have enough money to do that maybe you should find somewhere else to live.

yes i do, but i won't, yes i will, ah.

[3421abc]

There is always Vietnam, Americans can get a 1 year tourist Visa and there is no limit on how many visas you can get

[boonrawdcnx]

Listen slick, I am not telling people what to do; the Thai gov't is the one setting the bar for what it takes to retire in Thailand. It's either seasoning 800K in the bank, or legit proof of 65K coming in each month from a foreign source. It's not rocket science.
 
If a person cannot meet this basic requirement, then I will let Thai immigration deal with it.
 
Btw, from your last sentence, I can only surmise that you are poor, yet a jolly good fellow with lots of warmth in your heart, and loads of fun to be around. Jeez, if only everyone could be just like you.

Hahaha you are very funny - from my last sentence you surmise that I am poor?

You got it all wrong again - I was actually writing on behalf of several of my friends who are not as financially well off as I am but they are amazingly wonderful human beings and I would miss them very much if they would have to leave from here because they might not meet the financial requirements anymore.
Just because they are retired on a fixed income and the exchange rate is not favorable for them at the moment.
So I have deposited 800.000 Baht into a friends bank account because she was short 5000 Baht of the 800.000 last year because of the exchange rate when applying for her extension based on retirement and Immigration wanted her to leave the country at age 69 not having a place to go to. She is sleeping wonderful at night ever since.
And yes I am a jolly good fellow who appreciates his friends - rich or poor - for the great company they provide and we are having a great time here enjoying ourselves.
I have lots of warmth in my heart because that was the way I was brought up in a civilized country by wonderful parents who made sure that I could identify and appreciate the really important things in life at a very early age - and money was far down the line of really important things.









Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[dcnx]

18 hours ago, hakancnx said:

The agents love this. They've  got Chiang Mai immigration to block everybody from US, UK and Australia doing the combine method.  That's their market piece now....

So play the game. 

 

This is all easy if you use an agent. You can do it the easy way or the hard way, up to you.

[sunnyboy2018]

19 hours ago, Gumballl said:

I understand that. But IMHO, these folks should not be retiring in a foreign country when they have such limited financial resources. Perhaps they should retire in their home country, or seek out another less expensive locale other than Thailand.

 

The monthly depositors are at the mercy of exchanges rates and FFT (or is it FTT?) markings in their bank book. Jeez, what kind of life is that... having to worry every 30 days.

Dont tell us we dont have enough resources.  I have three properties in the UK generating a sufficient income stream. Fluctuations in the currency market have changed the value of 800k baht. Even if I did sell a UK properly there is nothing to stop the unelected authorities from raising the amount. The best advice is to use an Agent.

[sunnyboy2018]

18 minutes ago, dcnx said:

So play the game. 

 

This is all easy if you use an agent. You can do it the easy way or the hard way, up to you.

The agents and IO work together for all our benefit.

[mania]

42 minutes ago, sunnyboy2018 said:

The agents and IO work together for all our benefit.

Ummm it is because of the agents that Chiang Mai Immigration is notorious

throughout Thailand as the worst most corrupt Immigration office to deal with

 

It is because of the agents backhanders that the CM Imm has developed an addiction to the free $$

 

They say a country gets the government it deserves & well Chiang Mai expats now have the immigration it too deserves

 

But dont get too comfy with any agent loopholes...eventually someone way above in pay grade who is not getting their nose in the trough

will gain face by exposing the loopholes

 

 

[LivinLOS]

2 hours ago, dcnx said:

So play the game. 

 

This is all easy if you use an agent. You can do it the easy way or the hard way, up to you.

You can choose to support the corruption which plagues this country or you can choose not to. 

 

 

[LivinLOS]

13 hours ago, PaceArrow said:

Good news, received my Retirement Extension today from Korat office, after being denied last week over the less than 12 monthly income deposits. What happened, a personal trip to the Immigration Bureau BKK yesterday with the higher ups on clarification of Police memorandum dated 26 December spelling out the guidance on waiving those months during the first year of transition period with phone calls to Div !V boss to make it happen. Very satisfied with the results, they were very nice to me today!!!! 

Great to hear a little sense in the system every once in a while. 

[LivinLOS]

1 hour ago, mania said:

Ummm it is because of the agents that Chiang Mai Immigration is notorious

throughout Thailand as the worst most corrupt Immigration office to deal with

You really havent experienced Samui or Phuket I guess.. 

 

Even Hua Hin IMO is worse. 

 

Chiang Mai is busy, and will deny any application that doesnt meet its current (ever changing) rules.. However they were polite, honest, and clear in all rules dealing with me so far. Phuket experiences were a genuine shock, officers were competing to insult people to make them explode and walk out in anger, at which point they would all smirk at each other. 

[Tony125]

On 8/1/2019 at 11:22 AM, Gumballl said:

Earlier I had requested info on the September 1 cutoff. So far, I only have read unsubstantiated rumors on TVF. Months ago, posts on TVF indicated the cutoff was April Fool's Day, and that retirees should consider using TransferWise. This seemed more like a commercial advertisement than anything else. Up until a month ago, I have still been able to do the ACH transfers from BofA to BBK NYC.

 

I personally have not been informed by BofA, nor by BBK (here in Thailand) of any impending changes.

You say you only see unsubstantiated rumors from people who "SAY they got a letter saying there would be a cut off. Others (or you) said they never got a letter from Bangkok Bank saying they would stop ACH transfers. Below is the letter I got from Bangkok Bank, can't locate the other one pushing the date to Sept 1st to give their customers time to make other arrangements. I also used BofA to send ACH transfer to BKK Bak NY address but as of Sept 1st you can't. Can send Wire from BofA using online service.

[lannarebirth]

On 7/31/2019 at 8:31 PM, TallGuyJohninBKK said:

 

BKKB NY is slated to stop accepting regular ACH transfers from consumer U.S. accounts on this coming Sept 1 (about one month from now).

 

But they'll continue to accept, and forward to Thailand, domestic wire transfers sent to them from U.S. consumer accounts.

 

The main differences being, ACH transfers typically are easier to send and usually have no sending fee, whereas domestic wire transfers can be more difficult to send and usually involve a fee of $20 or more by the sending bank.

 

 

Post withdrawn, subsequent posts answered my question.

[eggers]

On 8/1/2019 at 7:59 AM, marcusarelus said:

This is Thailand.  Immigration offices are not the same.  Why post what should be?  Won't change anything.  

Yep, I suppose your attitude means we'd still be back in 'Stone Age', certainly no Smart phones or Social media!!!