A cost-effective way to transfer money from the US

via US ACH system and Bangkok Bank's New York branch, using the IAT (International ACH Transaction) Format 

Value

You will enjoy a better exchange rate because the USD amount will be converted to THB at the daily Bangkok Bank exchange rate in Thailand.

Convenient

You can make transfers directly online via the internet banking service provided by your own bank in the US.

Reliable

Use the international-standard US ACH system.

Meeting your requiements for funds transfers


  • Make funds transfers via the internet banking services of US banks .
  • Receive payments from US government agencies or private organizations (Direct Deposit service).
    Receive e-Commerce payments from online payment service providers in the US.

Service Details

Advice to senders using US bank internet banking services

If you have a U.S. bank account, you can conveniently transfer funds to a recipient's bank account at Bangkok Bank in Thailand via the internet by completing the steps described below for an international ACH transaction (IAT). International ACH payments are processed in accordance with operating rules and formats developed by the Electronic Payments Association (NACHA).


The 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 perform screening to ensure compliance with Office of Foreign Assets Control (OFAC, U.S. Department of the Treasury) requirements.  The NACHA  rules require Bangkok Bank’s New York Branch which serves as intermediary, to ensure that payments that are transmitted to account of beneficiary in other country are appropriately classified as IATs and contain information as described below.

 

Bangkok Bank, New York Branch, is required to receive the ACH transactions in the required IAT format.  This means that we must require that senders who wish to transmit funds to recipients at Bangkok Bank in Thailand to provide certain identifying information.

 

Instructions

To initiate a such an international transaction , using internet banking when you log on to your bank in U.S. website, please select the International ACH and provide the following information to your bank:

  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
  3. The 9-digit routing number 026008691 of Bangkok Bank New York Branch, which acts as intermediary in the transaction. 

 

Important Note: 

  • As some bank in U.S. may not provide the International ACH thorough their internet banking, please contact your bank on how to process your transfer.
  • Once Bangkok Bank’s New York branch receives the payment with the appropriate IAT format, they will process your payment to Bangkok Bank in Thailand for further credit to a recipient's bank account at Bangkok Bank in Thailand.
  • With effective from April 1, 2019, New York branch only process ACH with appropriate IAT format and all non-IAT transactions will be returned.       
  • Bangkok Bank in Thailand will be able to credit the recipient’s account in Thailand only when the name and account number of the recipient in your transfer instruction from the banks in the U.S. matches the recipient’s name and account number at Bangkok Bank.

If you wish to enquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or e-mail helpdesk.nyb@bbl.co.th

Advice to Bangkok Bank customers receiving payments from US government agencies or private organizations (Direct Deposit)

The US Treasury Department has ceased issuing paper cheques for the payment of Federal retirement benefits such as pensions, annuities or payroll, including Social Security and Veterans Affairs payments, and now requires direct deposit of your benefit into your bank account. You will therefore need to notify the US government agency providing your Federal benefit how you wish to receive payments.

As Bangkok Bank is the only provider in Thailand offering a direct deposit services into a Thai bank account, you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches).

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.   

If you wish to enquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or E-mail: helpdesk.nyb@bbl.co.th


Benefits of the Direct Deposit Service

  • Your payments are deposited directly to your account every month.

  • Funds will be converted into baht using the rate for receiving electronic funds transfers 
    (Buying TT rate).

 

How to apply for Direct Deposit

 

If receiving payments from a US Government Agency

  • Download the “Direct Deposit Sign-up Form (SF1199A)” from http://www.socialsecurity.gov/online. Complete the form to sign up for Direct Deposit with your relevant US government agency and include information which are your name and physical address in Thailand; your bank account number and the name and address of your Bangkok Bank Branch in Thailand; 9-digit routing number 026008691 of Bangkok Bank New York  Branch.

  • Open a savings account at any Bangkok Bank branch (except micro branches). If you already have an account with Bangkok Bank, you can use your existing bank account for this service, although we will need to change the type of account in line with the Direct Deposit’s terms and conditions.

  • Complete a “Direct Deposit Service Application” form, which you can pick up at any Bangkok Bank branch (except micro branches). You can also choose to fill out an SMS Remittance Alert Service Request Form to receive an SMS notification on your mobile phone when funds have been successfully transferred into your Bangkok Bank account.

  • Submit all forms to Bangkok Bank with the following supporting documents:

    • Identification Card/Government Official ID Card/Passport together with a customer identification document such as your Social Security Card, Annuitant ID Card etc.
    • A document from the relevant agency giving evidence of your right to receive the payments.
  • After verifying your documents, Bangkok Bank will submit your application to the government agency, asking them to approve your request to receive the funds via Direct Deposit.

  • After the request is approved by the US Government Agency, your payments will be electronically deposited directly into your Bangkok Bank account.

 

Conditions

Bangkok Bank cannot authorize the withdrawal of funds from your direct deposit account by an appointed representative, or via ATM or any other electronic channel. You must appear in person at a Bangkok Bank branch to withdraw the funds. You can, however, open a normal savings or current account and transfer the funds from your direct deposit account to this account. You may then withdraw your funds as usual via ATM or any other electronic channel.

You can also choose to directly contact the relevant US government agencies to send funds into your savings account with Bangkok Bank. However, we still need to request that you change your savings account to a Direct Deposit account. Failure to comply will result in Bangkok Bank not being able to deposit funds transferred from the relevant US government agency into your account.


For your information

If you are living in Thailand, the point of contact for more information or to ask questions about SSA benefits is the SSA Federal Benefits Unit (FBU) at the US Embassy in Manila, Philippines. You can contact the SSA through the following channels:

Tel: (63 2) 301 2000 ext. 9 Website: http://ph.usembassy.gov/u-s-citizen -services/social-security/

E-mail: FBU.manila@ssa.gov


If receiving payments from a private organization

  • Request the “Authorization Agreement for Automatic Deposits (ACH Credits)” form or “Related Direct Deposit” form from the organization or the agency that will be making the payment to you. Complete the form to request the Direct Deposit service.

  • Open a savings account at any Bangkok Bank branch in Thailand. If you already have an account with Bangkok Bank, you can use your existing bank account for this service.

  • Request your home branch to issue a bank reference letter to certify your bank account details such as account type, account number, date of account opening and current balance to be provided to your agency.

  • Include your name and physical address in Thailand;,your bank account number and the name and address of your Bangkok Bank Branch in Thailand;  and the 9-digit routing number 026008691 of Bangkok Bank New York  Branch in your Direct Deposit Signup Form.

  • Indicate the Routing Number 026008691 of Bangkok Bank’s branch in New York and your account number with Bangkok Bank in Thailand on your “Authorization Agreement for Automatic Deposits (ACH Credits)” form or “Related Direct Deposit” form.

  • Submit the form with the required information such as your Identity Card or Social Security Card, or evidence of your right to receive the payments from the company, together with Bangkok Bank’s Reference Letter. Mail the signed form to the US company asking it to approve the request and initiate direct deposits into your account.

  • After the request to receive direct deposits is approved, your payments will be electronically deposited directly into your Bangkok Bank account.

Advice to international e-commerce operators in Thailand receiving payments from e-commerce providers
This service is under review as there has been some changes to our terms and conditions. If you wish to enquire more information, please contact us via email info@bangkokbank.com
Fees

Transferred Amount


Fee (USD) for
Bangkok Bank’s
New York Branch in US

Fee (THB) for
Bangkok Bank in Thailand


Not more than USD50.00

Free

0.25% of the transfer
value (minimum 200 baht,
maximum 500 baht)

USD50.01 - 100.00

3.00

USD100.1 - 2,000.00

5.00

USD2,000.01 - 50,000.00

10.00

USD50,000.01 or more

20.00


Note: Bangkok Bank’s New York branch in the US and Bangkok Bank in Thailand will deduct fees as indicated above from the transferred amount, prior to depositing funds into your account.

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