ACH transfers from USA to Bangkok Bank -Alert!

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2lz2p
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#101 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by 2lz2p » Mon Nov 05, 2018 12:06 pm

2lz2p wrote:
Up2u wrote:As of early Monday morning I still have not received my money via TW which was initiated on October 31.
All 3 of my transfers arrived between 2:05pm and 2:10Pm
My ACH transfer sent on Thursday just before my TW transfer just arrived at Bangkok Bank (32.73 exchange rate - 285 baht conversion fee).

As previously mentioned, my TW arrived on Friday (33.025 exchange rate - when TW accepts the transfer, they show the exchange rate to be used for that transfer, do the conversion at that rate, and wire that amount in baht - Bangkok Bank deposited and charged no conversion fee since it was in baht).

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#102 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by puan » Mon Nov 05, 2018 12:32 pm

Gaybutton wrote:I thank 2lz2p for telling us about the existence of Transferwise.
Yes....I would like to "second" GB 's thanks.

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#103 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by Up2u » Mon Nov 05, 2018 2:43 pm

The transfer I initiated on Oct 31, posted to my BB account at 2:20 this afternoon. $2100 = 69137 THB exchange rate was 33.28, I see no charge (yet) from BB.

For reference, on October 31, the TW rate was 33.28, ATM was 33.18, and BB T/T rate was 33.0. Today the BB T/T is 32.82 if the BB had received the money via NYC ACH.

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#104 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by Jun » Tue Nov 06, 2018 1:39 am

Gaybutton wrote:I thank 2lz2p for telling us about the existence of Transferwise.
Also, thank you to Christian PFC for telling us about it here in 2014 and 2015. Plus other boards since then.

Despite this, I also somehow missed it and didn't use the service until August 2017. Mind you, there have been worse cases of slow adoption. I believe it was about 200 years from the first trial where they showed lemons prevented scurvy & cut the death rate to zero and the British Navy actually acting on it. Even I am not that inept.

Incidentally, if you are planning to use the transfer service for the first time, they still have a referral scheme.
(i) Existing used sends you a link & you get 1 free transfer
(ii) The existing user gets £50 after 3 people transfer £200.

PM one of the existing users.

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Gaybutton
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#105 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by Gaybutton » Tue Nov 06, 2018 10:08 am

Jun wrote:Also, thank you to Christian PFC for telling us about it here in 2014 and 2015.
Then I'll add my thanks too. I don't remember that, but I probably didn't pay attention because at the time I had no need for it and thought I never would.

It's reassuring to know that Transferwise has already reliably been providing this service for years.

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#106 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by Up2u » Thu Nov 22, 2018 9:29 pm

I initiated a transfer for $2100 early Wednesday morning (before close of business in NYC) using TransferWise. The money posted to my BB account around 2:00 pm this afternoon. Much faster than my previous experience. From Thailand, if you need money quickly, I recommend initiating the request on a Monday or Tuesday otherwise it may take 5-7 days as TransferWise holds the money over the weekend.

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#107 Re: ACH transfers from USA to Bangkok Bank -Alert!

Post by Gaybutton » Fri Nov 30, 2018 3:40 pm

Today I completed my first transaction with Transferwise. I am extremely pleased and definitely grateful to both 2lz2p and Up2u for posting about Transferwise.

Last evening I received an Email from Transferwise telling me my retirement pension for this month is now in my Transferwise account. I initiated the transfer of that money into my Bangkok Bank account.

According to Transferwise's web site I was to expect the money to appear in my Bangkok Bank account today at about 2:30pm - less than 24 hours after the money was deposited into the Transferwise account.

Exactly the amount they said I would receive indeed did appear in my Bangkok Bank account shortly after 2pm. And I am doubly pleased because since the transfer was not from an American government source, the money was able to go right into my regular savings account rather than that inconvenient receive-only account - meaning now I no longer have to go to a Bangkok Bank branch to transfer the money out of the receive-only account and into the regular savings account.

Also, Bangkok Bank still sends a text message to notify the money has been received.

In my case, the problem was beginning in April, any direct deposits into Bangkok Bank's New York branch would require use of the IAT format, but my pension office won't do the IAT format - so I was stuck for how I was going to receive my money after April 1. Transferwise turned out to be the perfect solution.

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