Answered6 months ago
Can I change my Social Security direct deposit to my Thai bank account with Kasikorn Bank?
Does anyone know if I can change my Social Security direct deposit from my US bank to my new Thai bank account with Kasikorn Bank?
Answer summary
Yes, you can change your Social Security direct deposit to your Thai bank account with Kasikorn Bank. It generally requires a few steps, such as filling out a form from the Social Security Administration (SSA) and possibly obtaining bank verification. Many expats have successfully made this change online, though it may take around 30 days to process. Payments to foreign accounts are usually received on the 3rd of the month. Additionally, it's important to note that you must complete annual paperwork verifying your status to maintain the direct deposit.
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John ********
After the Bangkok Bank fiasco I would never do a direct deposit to a Thai bank. I do a transfer every month.
Kevin ********
Yes it has to be an account with no ATM card
Chuck *********
My only question is, when you have your SS sent here, doesn’t that automatically cause you to have to do yearly paperwork verifying you’re still alive? I’ve read in many different forums that the paperwork can be a pain, as sometimes it doesn’t get there and your payments are suspended?
Kevin ********
Chuck Sievert not just bc you have a Thai acct deposit they do to others too
Chuck *********
Kevin Parker just stating that if you don’t live in the U.S., you have to prove you’re alive every year
James ***********
OPChuck Sievert Thanks for your input. That is the first I have heard of that.
Chuck *********
James Gillespie when you don’t live in the U.S., you have to submit a form each year verifying you’re still breathing. I’ve heard many have had problems with it, either. Or receiving the form or they mail the form and it was never received and their payments were stopped.
I won’t receive it for another 3.5 years but I will keep a mailing address and bank in the US and have it deposited there. I won’t need it to live here so it will just be invested but we do enough paperwork to live here each year and don’t need more to do.
I won’t receive it for another 3.5 years but I will keep a mailing address and bank in the US and have it deposited there. I won’t need it to live here so it will just be invested but we do enough paperwork to live here each year and don’t need more to do.
IndigoG********
Possible but is it wise? I would park it at Schawb and just make monthly transfers...
James ***********
OPIndigoGrape5836 Great input. Appreciate it.
Mark *********
Yes I had to get a letter from Bangkok bank there is a form on line from SSA then you need to send it to Manila office
Steve ***********
But does Thailand see this as income subject to taxation?
Eric **********
Steve Fortefyve Depends on which Thai tax office you visit....
Mike *******
I don’t think thats a very smart move to do that.. But hey, if you really feel that comfortable then so be it. You don’t have much protections for your money like in the U.S
James ***********
OPMike Maday Thanks for your input.
Sean **********
Mike Maday exactly why I have not. I only keep my requirement in the bank.
Mike *******
Good luck..🤗
David *********
Mike Maday life itself is not guaranteed my friend. Doing my best to live for today, is my thinking. 🙏
Leonard ***********************
Mike Maday have you looked around the US lately, I travel back and forth from America to Thailand there's so many scams in the US and with the characters running the government right now anything can change in a minute the US is a dumpster fire that can never be put out
Chuck *********
Leonard Kingston Miragliuolo and there’s no scams here? How safe is your money here? What happened to all the people that had their BKK accounts locked last year for months without being able to access their money to pay for rent, food etc?
I go back to US too and will go back for a few weeks next month. When I was there in December, it was exactly the same as it was when I left 3 years ago.
I go back to US too and will go back for a few weeks next month. When I was there in December, it was exactly the same as it was when I left 3 years ago.
Glenn ********
Leonard Kingston Miragliuolo
Just stay there then!!
Just stay there then!!
Mike *******
Leonard Kingston Miragliuolo sounds to me you have TDS!! You are a very delusional person..
Jon ********
Yes you can. It probably will take 30 days though. So if you are in the middle of the month it may not change the 1st of next month. This happened when I switched banks
James ***********
OPJon Warner Thank you.
Donald **********
Yep no problem. I did it online 4 years ago. I have it direct deposited to Bangkok Bank. One thing that will change when you do this is no matter what day you are receiving your payment in your US bank, everyone who has direct deposit overseas gets paid on the 3rd ( unless 3rd is Sat or Sun then it's the Friday before).
James ***********
OPDonald Crawford Thanks for your input.
Spencer *********
Donald Crawford I have direct deposit to my Thai account and it comes on the second Wednesday of the month
Donald **********
@Spencer ********
If you live outside the U.S. and your Social Security is sent to a foreign bank via International Direct Deposit (IDD), your payment is typically scheduled for the 3rd of each month, regardless of your original payment date (like 2nd, 3rd, or 4th Wednesday). From Social Security.. I used to get 3rd Wednesday also now it's the 3rd. Also is your address overseas with Social Security?Donald **********
@Spencer ********
look it up.. direct from Social Security to a foreign bank always goes on the 3rd. Are you by any chance getting it sent to Bangkok bank in NYC are you
Rick ********
Go to SSA.GOV for details
Rick ********
G0
David *********
Both my government deposits come to Thailand. I use Bangkok bank for business and have a k bank account for life.
I changed them both before I left the states. Good luck 🙏
I changed them both before I left the states. Good luck 🙏
Carlos *********
David McSatun Hi David, your SS is direct deposited into a Thai bank?
TYIA
TYIA
David *********
Carlos Montana yes sir! I switched while still in the states. Routes through Bangkok bank in NYC. It's a digital bank. That and government agreements make it easy. Keep calm & follow the steps. 🙏
Carlos *********
David McSatun cool, thank you
Steve ***********
David McSatun may I ask what they are?
David *********
Steve Fortefyve SS & VA Deposits
Steve ***********
David McSatun so some type of government work
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