Foreign ATM card daily withdrawal limits

[Piesat42]

"p42 80,000 baht at 46.6497 cost 4.50 = 1714 pounds x 3 = 5142 4.50 x 3 ==13.50 therefore transferring lloyds tsb is cheaper."

Correct Malcolm two different routines

Lindosfan ... transferring it direct from Lloyds would be 17.50 as it is over 5000 pounds

And am I a type of plane now? P42 ... lol

That is from my internet banking page so no link sorry

And I only do it once a month so it makes no sense doing bigger sums chums

[STEVE G]

Yes, I've managed to add my Bangkok Bank account onto my LLoyds-TSB online transfer recipients list just this week.
When I had to go back to the UK about six weeks ago I took the opportunity to make a transfer to Thailand and the staff in the bank told me to watch out for international option appearing on the payments section of the online account.

Steve, was this a Lloyds International Sterling Account?

Limited online international transfers have been available from Lloyds International Accounts denominated in US$ or EURO for some time but not from their sterling accounts.

I just logged onto my Lloyds international and on shore sterling accounts and couldn't find the international option you mention above? Am I looking in the wrong place?

Bit of a delay there; just back from the pub!
It's just a normal onshore sterling account that I keep for payments from a UK agency that I work through.
When you click on your account and get the statement on the internet banking it now has a sort of file header that says "UK & international payments" and you can set up an international transfer there.

[malcolminthemiddle]

Yes, I've managed to add my Bangkok Bank account onto my LLoyds-TSB online transfer recipients list just this week.
When I had to go back to the UK about six weeks ago I took the opportunity to make a transfer to Thailand and the staff in the bank told me to watch out for international option appearing on the payments section of the online account.

Steve, was this a Lloyds International Sterling Account?

Limited online international transfers have been available from Lloyds International Accounts denominated in US$ or EURO for some time but not from their sterling accounts.

I just logged onto my Lloyds international and on shore sterling accounts and couldn't find the international option you mention above? Am I looking in the wrong place?

Bit of a delay there; just back from the pub!
It's just a normal onshore sterling account that I keep for payments from a UK agency that I work through.
When you click on your account and get the statement on the internet banking it now has a sort of file header that says "UK & international payments" and you can set up an international transfer there.

Thanks, found it.

[wpcoe]

@hhfarang: If the ATM limit becomes enough of an inconvenience, since you have a US bank, you could consider changing to Bangkok Bank for your Thai account.

US banks can do "domestic" bank transfers via the Bangkok Bank branch in New York. Basically, you enter the ACH number for the BB NYC branch along with your actual Thai bank account number, and the money glides right from your US bank to your Bangkok Bank local account. Bangkok Bank does charge a fee based on the amount of the incoming transfer. Not sure if that's as cheap as your current ATM method? My US credit union doesn't charge for the first several (5?) domestic bank transfers I use.

I've been dragging my feet opening a bank account here in Hua Hin, but I intend to try the Bangkok Bank game. I usually transfer funds once per year via a $50 SWIFT transfer from the USA, but if I can do it more cheaply via the Bangkok Bank system, it'll work for me.

Also, US government checks, like pension checks and Social Security checks can be direct deposited to the Bangkok Bank NYC branch and end up in your local Thailand account in a similar fashion.

[edited to add:] Forgot to mention that your US bank would need to have online banking offering domestic inter-bank transfers, for this to really work. Also, for the government check direct deposit to Bangkok Bank, the US Embassy in Bangkok is fully aware of the process and can help if you need assistance setting it up.

[hhfarang]

Thanks wpcoe, I've been intending to look into that ever since I heard Bangkok Bank had a branch in New York.

[migrant]

I transfer for a client funds from his Bank of America account here in California to a Bangkok Bank account over there. Amounts vary from $3,000 to 16,000 and have been done on line for a year now.

The fee on this side (can't speak for Bangkok Bank) is a flat $35.

The only issue is they text a "safe code" to my cell to complete the transaction. They also discuss a wallet card so maybe there is a pin number that can also complete it.

I'll see if I can find out.

[dtaai-maai]

The good news - HSBC has an internet banking account-to-account transfer facility
The bad news - it's 17 UKP a pop

The good news - I can set up a standing order
The bad new - it's 40 UKP for each payment

Since all I need is 20k baht once every couple of months or so, I'll just have to put up with the ATM at 400 baht per withdrawal.

I've been with HSBC since... forever, and I've lived in Thailand for 8 years. I doubt changing UK banks is a realistic option now.

[hhfarang]

I transfer for a client funds from his Bank of America account here in California to a Bangkok Bank account over there. Amounts vary from $3,000 to 16,000 and have been done on line for a year now.

The fee on this side (can't speak for Bangkok Bank) is a flat $35.

The only issue is they text a "safe code" to my cell to complete the transaction. They also discuss a wallet card so maybe there is a pin number that can also complete it.

I'll see if I can find out.

Appreciate that Migrant.

Do you really transfer directly to a Thai branch or to the one in New York making it accessible in any Bangkok Bank branch? The last time I spoke with BofA about transfers (admittedly over two years ago so rules may have changed), I had to be present in a U.S. branch to initiate the paperwork to do what they called recurring transfers between the same two accounts. The fee was about what you quoted. Once I set it up in person, then I could initiate a transfer whenever I wanted by phone (at that time, available online now I guess). The problem was to set up the initial capability I needed to be there in person for identification purposes and as I've said, I haven't been in the U.S. since 2005.

Maybe what I need to try is opening an account at Bangkok Bank, and seeing if my pension can be direct deposited into the New York branch, thereby needing no transfers and avoiding most fees. The thing I don't know is if a Bangkok Bank account opened here, can be used (same account number) at the branch in New York or if (because of some American law) I would have to have two accounts with different numbers, one in New York and one in Thailand.

[STEVE G]

From Bank of America FAQ's:

How do I send an international wire?

To send a wire transfer, logon to Online Banking, click on the Transfers tab, then the Outside the Bank Transfers tab.
http://www.bankofamerica.com/deposits/c ... #question3

[hhfarang]

^ I've tried that, the fees are higher to at Thai bank than taking money out of the ATM at the maximum daily amounts.

[STEVE G]

OK HH, we don't use this term "wire transfer" here so I'm not familiar with it, is that more like a Western Union type of transaction?
With our banks you can just do a normal international bank transfer to an account.

[wpcoe]

Maybe what I need to try is opening an account at Bangkok Bank, and seeing if my pension can be direct deposited into the New York branch, thereby needing no transfers and avoiding most fees. The thing I don't know is if a Bangkok Bank account opened here, can be used (same account number) at the branch in New York or if (because of some American law) I would have to have two accounts with different numbers, one in New York and one in Thailand.

My understanding (and that's from reading it on an online forum someplace, so consider the source...) is that the New York branch of Bangkok Bank is does not offer consumer accounts or services. It will act as a intermediary for U.S. bank account-to-Thai Bangkok Bank account transfers, but I think that is under the umbrella of commercial banking vs consumer banking.

When you set up direct deposits of Social Security or other US government to Bangkok Bank, they handle it with the ACH routing number of the Bangkok Bank New York branch with the account number of the Thailand branch account, just like doing an interbank transfer. I think that's a commercial service for US government transactions, rather than being consumer service, per se.

[migrant]

From Bank of America FAQ's:

How do I send an international wire?

To send a wire transfer, logon to Online Banking, click on the Transfers tab, then the Outside the Bank Transfers tab.
http://www.bankofamerica.com/deposits/c ... #question3

This is how I do it HHF. It used to be I would need to go into a branch and fill out the paperwork, but about a year ago they went to online.

I don't really remember, but we did do a transfer to another persons account (still Bangkok Bank) and believe I did it start to finish on line.

The only issue like I mention is they text to my cell phone a safe code I need to answer to complete the transfer. I haven't had a chance to look at other options, but will try this week.

BTW I choose to transfer in USD which then gives me the exchange rate, and the $35 charge.

[Super Joe]

Maybe what I need to try is opening an account at Bangkok Bank, and seeing if my pension can be direct deposited into the New York branch, thereby needing no transfers and avoiding most fees. The thing I don't know is if a Bangkok Bank account opened here, can be used (same account number) at the branch in New York or if (because of some American law) I would have to have two accounts with different numbers, one in New York and one in Thailand.

My understanding (and that's from reading it on an online forum someplace, so consider the source...) is that the New York branch of Bangkok Bank is does not offer consumer accounts or services. It will act as a intermediary for U.S. bank account-to-Thai Bangkok Bank account transfers, but I think that is under the umbrella of commercial banking vs consumer banking.

When you set up direct deposits of Social Security or other US government to Bangkok Bank, they handle it with the ACH routing number of the Bangkok Bank New York branch with the account number of the Thailand branch account, just like doing an interbank transfer. I think that's a commercial service for US government transactions, rather than being consumer service, per se.

Not sure if this helps chaps... LINK

Funds Transfer from USA to Thailand - Convenient and safe via US ACH system and Bangkok Bank's New York Branch
Holders of US bank accounts can save on fees for international funds transfers by transferring funds from the United States to Thailand via the US Automated Clearing House system (US ACH) and Bangkok Bank's New York branch. By stipulating the 9-digit routing number for Bangkok Bank's New York branch (026008691) in your US transfer instruction, the funds will be transferred via the US ACH system directly to the receiver's Bangkok Bank account in Thailand, for a lower fee than most other international wire transfer services.

Benefits of the service:
- Fees for funds transfers via the US ACH system and Bangkok Bank's New York branch are up to USD 20 lower than most other international wire transfer services in the US.
- You can make transfers directly online via the internet banking service provided by your own bank in the US.
- You will enjoy a better exchange rate because the USD amount will be converted to Thai Baht at the daily Bangkok Bank exchange rate in Thailand.

Who can use it?
The service is available for holders of US bank accounts transferring funds to recipients with a Bangkok Bank account in Thailand. It is particularly useful for:
-Making funds transfers via the internet banking services of US banks
-Receiving payments from US government agencies or private organizations (Direct Deposit service)
-Receiving E-Commerce payments from online payment service providers in the US

The following step-by-step instructions are available:
- Advice to senders using US bank internet banking services
- Advice to Bangkok Bank customers receiving payments from US government agencies or private organizations (Direct Deposit)
- PayPal Payments for International E-Commerce Operators in Thailand

Click here to view fees

For more information, please call Bualuang Phone on 1333 or (66) 0-2645-5555 or Bangkok Bank's New York branch on (1-212) 422-8200.

Important Note:
You cannot transfer funds from Bangkok Bank's account in Thailand to your account with banks or online payment service providers in the US via Bangkok Bank's New York branch and the ACH system. If you initiate direct debit or ACH debit transactions to Bangkok Bank's New York branch, banks in the US and online payment service providers may suspend your account.

SJ

[hhfarang]

^ Thanks SJ, guess I better get down and open a Bangkok Bank local account and give this a try!