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RodRod2

Tryig to have my Canada Pension tranfered to thai bank

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Hi All

 

Does anyone have experience with having thier Canadian CPP Pension tranfered into thier  Thai Bank account, Im not having much luck as the people in Canada at the CPP Office have told me that they need a 7 digit code not the SWIFT Code but a 3 digit bank number and a 4 digit bank sorting number. I contacted my Kasikorn bank and they said that they only have a SWIFT Code?? The people in Canada at the CPP Pension office said that they do infact  send some CPP Pensions to Thailand here is the 7 digit requirement from the Canadian CPP Web site that clearly states they require 7 digits, thanks for any assistance

https://www.tpsgc-pwgsc.gc.ca/recgen/dd/etranger-abroad-eng.html#countries

 

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The 3 digit no. May be the branch. Hope you get some detailed answers and who pays the swift fee. I could do the same as you. 

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Canada uses the "IBAN" banking code and Thailand uses the "SWIFT" code. They don't do "IBAN" at all.

<snip, snip and more snip>

Sheesh, spent the last hour looking up SWIFT and IBAN info for different countries and banks, then decided to actually look at the form they want you to fill out. I started filling it out as though I was going to submit it and look at that ! When I got to the part where they want your banking information, there is a block where you can enter a SWIFT code, another where you can enter an IBAN and another block to enter your account number.

https://www.tpsgc-pwgsc.gc.ca/recgen/form/etranger-abroad-frm-eng.html

I thought it was hokey that they wouldn't take a SWIFT number. According to Wiki, only about 69 countries in the world (out of 192) use IBAN and they are mostly EU, Middle East and Caribbean countries - and Canada it seems. The yanks don't use IBAN either so you KNOW that CPP KNOWS how to use a SWIFT code !

I have my (army) pension going into my Canadian account and then use that to pay off my (Canadian) credit card and some other bills (property taxes and such). I was thinking about getting my OAP and CPP sent here when I finally get old enough to qualify for them (5-6 years from now I think it is). Not sure how much it'll be or if it'll be enough to satisfy Immigration's requirements though.

Keep in mind that when CCRA notices your pension going to a foreign bank, they are liable to slap you with the Schedule XIII (Snowbird) tax, which takes 25% of the amount of any Federal Pension right off the top before it gets sent to your foreign bank.
They actually take it off my army pension even though it is going into a Canadian account because I have been "deemed" non-resident (which is BS but another story).

So yeah, there shouldn't be any issues with them sending the money here using a SWIFT code.

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Good luck with that... I tried three times to do the same and have my pensions transferred directly to Thailand! It resulted every time the same as you...asking me for a code I couldn't provide! Calling them wasn't much help..."try again sir if you don't succeed!" I gave up...If you ask me they don't want to be bothered with this service!

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You might want to try and open an account with Transferwise.

 

My (French) pension is transfered to my Transferwise account, and then from there I send the money wherever I want, including to my Thai bank account

 

(France is also with IBAN)

 

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Yea....like KerryD already said Thai banks do not use IBAN....they use SWIFT.....same, same as the US and many other countries who do not use IBAN. Heck, even Canada is not listed as an IBAN country.  IBAN is used primarily by European and the Middle East countries.  

 

I'm thinking the CCP webpage that says Thailand uses IBAN is simply wrong and maybe the CPP rep talked to was looking at the same webpage.   

 

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As Brunolem suggested maybe you need to transfer to an account in Canada then use one of the services to transfer to Thailand.

I have a non government pension from Australia which goes into an Australian account then I transfer it here.

Its a very simple process and doesn’t create any problems when applying for the Retirement Extension.

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If you have your CPP. OAS transferred to your Thai bank account the CRA will deduct about 30% tax from the source. Have it transferred via Transferwise.com from you Canadian bank account to your Thai bank account. Can be done most days except for weekend for next day delivery

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Ask your Kasikorn bank guy/lady @ BAHTNET transfers. No fee and one day delivery.

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Hey RodRod, being a Newbie you should be careful about typos in your headlines, or you will get c..ts like me pulling you up.

READ before SUBMIT.

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1 hour ago, rucker4012 said:

Ask your Kasikorn bank guy/lady @ BAHTNET transfers. No fee and one day delivery.

BAHTNET is no good if it for Immigration purposes. Must be FTT.

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6 hours ago, Kerryd said:

Canada uses the "IBAN" banking code and Thailand uses the "SWIFT" code. They don't do "IBAN" at all.

<snip, snip and more snip>

Sheesh, spent the last hour looking up SWIFT and IBAN info for different countries and banks, then decided to actually look at the form they want you to fill out. I started filling it out as though I was going to submit it and look at that ! When I got to the part where they want your banking information, there is a block where you can enter a SWIFT code, another where you can enter an IBAN and another block to enter your account number.

https://www.tpsgc-pwgsc.gc.ca/recgen/form/etranger-abroad-frm-eng.html

I thought it was hokey that they wouldn't take a SWIFT number. According to Wiki, only about 69 countries in the world (out of 192) use IBAN and they are mostly EU, Middle East and Caribbean countries - and Canada it seems. The yanks don't use IBAN either so you KNOW that CPP KNOWS how to use a SWIFT code !

I have my (army) pension going into my Canadian account and then use that to pay off my (Canadian) credit card and some other bills (property taxes and such). I was thinking about getting my OAP and CPP sent here when I finally get old enough to qualify for them (5-6 years from now I think it is). Not sure how much it'll be or if it'll be enough to satisfy Immigration's requirements though.

Keep in mind that when CCRA notices your pension going to a foreign bank, they are liable to slap you with the Schedule XIII (Snowbird) tax, which takes 25% of the amount of any Federal Pension right off the top before it gets sent to your foreign bank.
They actually take it off my army pension even though it is going into a Canadian account because I have been "deemed" non-resident (which is BS but another story).

So yeah, there shouldn't be any issues with them sending the money here using a SWIFT code.

Hi Everyone, Thanks for all the information, appreciated, I will have another go with the CPP Rep as I have the Branch Number ect but only amounts to 6 digits ha ha ha I need 7?? Anyways they already sent me my first payment by Cheque to here, not what I wanted, but Oh Well Yes they took off the 25 percent Non Resident of Canada Tax so that is gone......... I expected that with a Thai Address, I will keep trying and update everyone on my progress or lack of.... Rod

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The Kasikorn bank SWIFT code is: KASITHBK (8 characters).

If you ask your bank, they should give you a pre-printed slip of paper that has the SWIFT code on it (and they should write your full account number on it as well) and it should have the proper bank address on it too.

I have a couple of those from Bangkok Bank. Makes life easy because all the info you need is on that little slip of paper.

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This is a guess:  If you are 1 digit short, try adding a "0" at the front. 

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