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What are the current methods for transferring money from the U.S. to Thailand after changes in ACH transfers?

Money TransferACH TransfersTransferWiseBangkok BankInternational Direct DepositU.S. Banking RegulationsExpat FinancesSocial Security Payments
Jun 15, 2019
6 years ago
Joe ***********
ORIGINAL POSTER
To the guy trying to get money from the U.S. You were given out of date info. ACH transfers via Bangkok Bank NY will no longer work. U.S. Banking regulators have forced that method to stop effected April 1, then extended it to June 30. New funds transfer applications using test deposits will be denied.. TransferWise Borderless will work ... I know how to do it.
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TLDR : Answer Summary
Recent regulatory changes have impacted the ability to use ACH transfers from the U.S. to Thailand, particularly through Bangkok Bank New York. As of June 30, ACH transfers will no longer be accepted, making services like TransferWise more popular. Users discuss various methods for transferring funds, sharing experiences with TransferWise, Western Union, and others, as well as concerns related to Social Security payments transitioning to International Direct Deposit (IDD). Overall, it is advised to explore multiple platforms and stay updated on banking regulations.
Tod *********
and we are done. Thanx JD for the advice :)
6 years ago
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Tony *******
DeeMoney seems to be working for me to send funds from Thailand
6 years ago
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Tony *******
I use TransferWise for UK to Thailand. It’s a really good service.
6 years ago
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Joe ***********
ORIGINAL POSTER
Are you on the new IDD from the SSA - International Direct Deposit?

Also the Extended Cut Off date is June 30, not June 1.
6 years ago
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Joe ***********
ORIGINAL POSTER
Bob D'Andrea - Read this entire thread.

Or this...

Bangkok Bank New York cannot any longer transfer funds via ACH (a U.S. Domestic transfer method)..BBNY can no long use ACH for international funds transfers after June 30 and will not accept new attempts at test deposits. Social Security has been using the ACH Routing Method since forever.. Those American Expats who have been receiving SSA Monthly S.S. "checks" via Direct Deposit to your Thai Bangkok Bank should contact the Social Security Admin to see if you have been automatically transferred to the new IDD - International Direct Deposit system
6 years ago
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Bob **********
@Joe **********
 what cut off??
6 years ago
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Bob **********
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Joe ***********
ORIGINAL POSTER
If any one of you are having your Social Security monthly "checks" sent to your Bangkok Bank account. Then I suggest you call the SSA (late at night - early morning in Easter U.S.) and check to see if they have transferred your Direct Deposit to the new IDD - International Direct Deposit.
6 years ago
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Paul *******
Just checked western union..
6 years ago
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Paul *******
@Bob *********
 .. no of course not.. just showing that the rate on western union is better than transferwise..
6 years ago
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Bob **********
@Paul ******
 you won’t be able to use that at Immigration
6 years ago
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Bob **********
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Dan *********
If you are American, you can’t beat the Schwab debit card although you are limited to how much you can withdraw each day. You will get the 220 Baht ATM fee refunded and you will get the interbank rate (not the TT rate). Visa typically takes about .2-4% for using their card which will be about half what you pay for most other methods including Transferwise. There is also no minimum account balance with Schwab. It is very difficult to set up a Schwab debit card from Thailand. I tried to do this several different ways and had to go back to the USA to do this.
6 years ago
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Dan *********
Joe D Greene Yes, I agree . That is why last year I found a new bank in the USA and transferred part of my IRA in that bank’s brokerage account. I now get free monthly international wires (typically cost $25-40 per wire) to meet the 65,000 Baht monthly requirement. Doing this also eliminated the $10 Bangkok bank NY ACH fee.
6 years ago
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Joe ***********
ORIGINAL POSTER
Social Security Monthly payments need to be changed over to the new SSA IDD - International Direct Deposit.
6 years ago
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Joe ***********
ORIGINAL POSTER
@Dan ********
 - Doesn't help those trying to use the Monthly Income Method of 65,000. ATM card usage will not normally be allowed proof of Monthly Income
6 years ago
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Dave **********
@Dan ********
 I pay no ATM Fees , refunded, using my USAA debit card. However, I still have a direct deposit via Bangkok to satisfy Immigration requirements of 65K or more monthly. Lots of ways to skin a cat and one size never fits all.
6 years ago
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Dave **********
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เดวิด **********
@Joe **********
, my monthly ACH transfers to and from the USA have not stopped. In fact, I just got one yesterday morning.

I use US Bank in the USA. I make scheduled transfers monthly. Into Bangkok Bank from personal accounts and out of Bangkok bank to the USA from a business account.

When Bangkok Bank posted the change in format to iACH on their website, I sent the info to my bank branch manager who said US Bank had been compliant with iACH for years. They tell me my transfers will not stop unless I cancel them.
6 years ago
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Joe ***********
ORIGINAL POSTER
เดวิด ฟอสเตอร์ - You are very fortunate unless your US Bank banker was talking about commercial accounts.
6 years ago
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Joe ***********
ORIGINAL POSTER
เดวิด ฟอสเตอร์ - While Bangkok Bank NY has recently announced that they are now IAT Routing Compatible (. I doubt most retail bank accounts at the majority of American banks are using IAT (International ACH Transaction). Very recent discussions on thaivisa . com headed by people who I consider to be experts on this subject stated quite emphatically that U.S. Banks are not IAT compatible except for commercial accounts and not for retail accounts such as what everyday Americans use for their personal banking accounts. I suggest that you go to thaivisa . com do a search on this IAT subject - see for yourself what they say.

Also as far as a ACH cut off it was April 1st. then extended to June 30.. It is not June 30 yet.
6 years ago
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Dan *********
There are other ways to solve this problem. Some banks offer their customers free international wires if you meet their minimum account relationship requirements. I set up bank and brokerage accounts with Chase “You Invest”. Now I get free international wires so I do not pay the $10 Bangkok bank ACH charge. I wire the money directly to Bangkok bank in Thailand for large transfers and the wire transfers are quicker than ACH transfers.
6 years ago
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Dan *********
@เดวิด *********
 USA bank is one of the few that is compliant. Most major banks in the USA do not do this.
6 years ago
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เดวิด **********
@David ***********
 yes I I saw that, and I wrote....the bank has told me transfers will not stop unless I cancel them.
6 years ago
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David ************
@เดวิด *********
 You didn’t read it close enough. Joe said it won’t start until 30 June...
6 years ago
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David ************
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Mike ********
Thank's for the information.
6 years ago
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Mike ********
I'll check my mailbox.
6 years ago
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Sammy *******
yes, i got same letter.
6 years ago
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Joe ***********
ORIGINAL POSTER
My recommendations - go to thaivisa . com - go to the Forums - use search - search terms, separately ... ACH, Bangkok Bank New York, TransferWise Borderless, IDD, International Direct Deposit. And see the discussions held since October of last year
6 years ago
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Greg ******
I received this from Bangkok Bank about it.
6 years ago
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Edward ********
Transferwise is ok as long as your receiving bank is Bangkok Bank and 2 others. Otherwise it goes to their main three banks in Thailand and is passed on to the secondary final bank. This means there is NO foreign transfer down in b acct
6 years ago
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Barry ******
You can still get proof but it's just a bit harder
6 years ago
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Barry ******
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Paul *******
The last time I checked ( I few months back) western union was cheaper than transfer wise..
6 years ago
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Paul *******
Its about $6 for the 1 to 3 day service and about $20 to immediate service, which means it collectable at the other end straight away.. I haven't used them for a few years now. But I've been using them on and off for about 15 years I guess.. open an account and get better rates, and for regular users I sometimes get free transfer fees.. which is a nice little bonus.. check them out ..
6 years ago
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Paul *******
@Michael *******
 .. yeah I've always either used my bank to make the transfer or used western union, for quickness.. I know a lot of people like to promote transfer wise.. but every time I see one of these debates I check and can normally prove straight away that they aren't the cheapest..
6 years ago
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Joe ***********
ORIGINAL POSTER
And what is the Fee
6 years ago
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Paul *******
@Joe **********
 just checked it
6 years ago
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Paul *******
It was cheaper last time I checked..
6 years ago
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Joe ***********
ORIGINAL POSTER
6 years ago
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Joe ***********
ORIGINAL POSTER
@Paul ******
 - Not even close ... Western Union is way more expensive
6 years ago
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Michael ********
Paul Burns I have checked a number of times with transferwise, and taking into considering their high fees, my general bank transfer to SCB was better every time, even with the slightly better exchange rate with TW. I think people don't properly check other avenues before using transferwise. I am yet to use them unless I get more at the other end.
6 years ago
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Michael ********
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Emerlito *******************
What if you have Direct deposit from US Military Retirement pay will.that be affected?
6 years ago
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Emerlito *******************
@Joe **********
 Thanks. it is I'm Safe.
6 years ago
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Joe ***********
ORIGINAL POSTER
Emerlito Pimentel Tomasek - Check to see if your military retirement pay is not sent by ACH from the source and if it is also not Routed via Bangkok Bank New York. I think it is probably okay but wise to check
6 years ago
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Joe ***********
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Joe ***********
TransferWise every time for me, been using them nearly 2 years now and no hassle!
6 years ago
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Joe ***********
Michael Lucken Just saying! An informed choice!

Many choices out there and it's up-to-you! Check-out what your western bank would charge you for a International Money Transfer!

TransferWise suits my needs in the meantime, and will probably suit my needs in the future?

However, I'll continue to look for the best exchange rate/money transfer deals!
6 years ago
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Michael ********
@Joe **********
 Do you always check to make sure that Transferwise will give you more at the end? It often doesn't by the time you include the high fees.
6 years ago
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Michael ********
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David ************
That doesn’t sound right unless it’s just Bangkok dank NYC is affected
6 years ago
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Sammy *******
@George ************
 i understand and have heard some of the same things, but acceptance lf the 65,000 is in the regulation, but, as this is Thailand, any change wouldnt surprise me. so strange, the proof of income is so that one can demonstrate he/she has the funds to support themselves, but then, you are very restricted on how to use it-- for those on limited incomes, having those funds tied up is very dsmaging.
6 years ago
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Mike ********
@Jp ******
 I haven’t received a letter from them.
6 years ago
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Jp *******
@Mike *******
 this is true. You should have gotten a letter from Bangkok Bank telling u it will still allowed ACH transfers thru its NY branch until end of June.
6 years ago
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Sammy *******
@George ************
 yes. u are absolutely correct-- this has been discussed in detail here before and on various FB pages and websites, and i posted something very similar to what you have here. but, still, some are unaware-- i now use a combo of SWIFT transfers and transferwise, but always the odd chance, and posters have indicated it happened to them, that tne transferwise transfer did not show as an international transfer. there was a guy who detailed nicely how one can go about making sure that doesnt happen by contacting transferwise during the transfer process and they will work with u to ensure it does show as an international transfer.
6 years ago
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Joe ***********
ORIGINAL POSTER
Correct - if you are using ACH - Automated Clearing House to send the money from your bank in the U.S.
6 years ago
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Mike ********
Joe D Green, I have been using Bangkok Bank via their New York office to have money wired to my account here in Thailand. Am I reading your post correctly, AFTER June 30 Bangkok Bank New York will no longer be able to wire money to my account here in Thailand?
6 years ago
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David ************
@Joe **********
 thanks for the info. Hope my Kbank ache transfer stay ok
6 years ago
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Joe ***********
ORIGINAL POSTER
David N Viscuso - That is my WHOLE point.. Bangkok Bank New York cannot any longer transfer funds via ACH (a U.S. Domestic transfer method).. Can no long use ACH for international funds transfers after June 30 and will not accept new attempts at test deposits
6 years ago
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Joe ***********
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