How is this different than a bank account?
Your TransferWise borderless account is an Electronic Money account. It's different from a bank account because:
• You won’t be able to get an overdraft or loan
• You won’t earn interest on your account
• Although your bank details are unique, they don't represent real bank accounts, but simply ‘addresses’ for your Electronic Money account, meaning you can receive payments much like a real bank account
https://transferwise.com/help/article/2 ... nk-account
ACH transfers from USA to Bangkok Bank -Alert!
Re: ACH transfers from USA to Bangkok Bank -Alert!
GB....There are three USA banks that I know of that have offices here in Bangkok:
JP Morgan/Chase
Citibank
Bank of America
Also, HSBC has operations in the USA and has offices here.
May be they could be of assistance for American non-resident citizens opening an account back in the states.
Just a thought.
JP Morgan/Chase
Citibank
Bank of America
Also, HSBC has operations in the USA and has offices here.
May be they could be of assistance for American non-resident citizens opening an account back in the states.
Just a thought.
Re: ACH transfers from USA to Bangkok Bank -Alert!
Transferwise offers at least 2 different services, listed below
Only the first MIGHT solve your no US bank account issue. I have used the second service many times, but never the first.
1 Borderless Account
As stated previously, I have not used this, so you need to check if it may be suitable.
However I believe it is like a bank account and you would just have your social security or pension provider pay into the borderless account.
The US details are half way down this page. If I read this correctly, you can receive your transfers.
Another page tells me you can open it from Thailand.
https://transferwise.com/help/topics/17 ... ss-account
2 Foreign Currency Transfers
I have used these for transfers from the UK to an ASEAN financial centre. I set up a transferwise transfer, then log on to my UK bank to transfer the money to Transferwise, who then bat it on to my overseas account.
It's usually less than 30 minutes from money sitting in UK account, to money sitting in the overseas account.
Probably No use at all if you have no US bank account.
You will note I have only used 2 Foreign Currency Transfers AND have zero experience of the US banking system, so the first option is merely a suggestion, as I am in no place to recommend it. It just looks like it would work.
However, I would be very interested to hear if it is suitable for your issue.
If having the borderless account, personally I would only leave a token sum in it between receiving monthly payments.
Only the first MIGHT solve your no US bank account issue. I have used the second service many times, but never the first.
1 Borderless Account
As stated previously, I have not used this, so you need to check if it may be suitable.
However I believe it is like a bank account and you would just have your social security or pension provider pay into the borderless account.
The US details are half way down this page. If I read this correctly, you can receive your transfers.
Another page tells me you can open it from Thailand.
https://transferwise.com/help/topics/17 ... ss-account
2 Foreign Currency Transfers
I have used these for transfers from the UK to an ASEAN financial centre. I set up a transferwise transfer, then log on to my UK bank to transfer the money to Transferwise, who then bat it on to my overseas account.
It's usually less than 30 minutes from money sitting in UK account, to money sitting in the overseas account.
Probably No use at all if you have no US bank account.
You will note I have only used 2 Foreign Currency Transfers AND have zero experience of the US banking system, so the first option is merely a suggestion, as I am in no place to recommend it. It just looks like it would work.
However, I would be very interested to hear if it is suitable for your issue.
If having the borderless account, personally I would only leave a token sum in it between receiving monthly payments.
Re: ACH transfers from USA to Bangkok Bank -Alert!
Note that HSBC ceased personal banking for individual customers some years ago. Most HSBC customers transferred to Krungsri. HSBC only deals with business customers now in Thailand.
Re: ACH transfers from USA to Bangkok Bank -Alert!
Well, my experimental transfer using TransferWise was a success.
My account with Transferwise was established on Monday, October 29.
I initiated a transfer on Wednesday, October 31 2:45 p.m.. TransferWise advised that transfer would be in my Bangkok Bank on November 2 at
$1.00 = 33.12 Baht.
Indeed transfer was completed today November 2 at 2:05 p.m. and was posted to my Bangkok Bank account with entry note of "International Transfer."
My account with Transferwise was established on Monday, October 29.
I initiated a transfer on Wednesday, October 31 2:45 p.m.. TransferWise advised that transfer would be in my Bangkok Bank on November 2 at
$1.00 = 33.12 Baht.
Indeed transfer was completed today November 2 at 2:05 p.m. and was posted to my Bangkok Bank account with entry note of "International Transfer."
- Gaybutton
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Re: ACH transfers from USA to Bangkok Bank -Alert!
From which bank did you do the transfer?puan wrote:Well, my experimental transfer using TransferWise was a success.
Was the transfer from a checking account or a savings account?
I haven't done much about seriously trying yet, but I still want to find a bank in the USA that will allow me to open an account online, without being physically present in the USA and without a USA address.
Re: ACH transfers from USA to Bangkok Bank -Alert!
The bank I used to transfer from was M&T Bank which is a northeast regional bank which I have used for years. My pension is directly deposited there.
Transfer was from a checking account.
Transfer was from a checking account.
Re: ACH transfers from USA to Bangkok Bank -Alert!
I am a long-term premiere customer with HSBC USA and I thought I would be able to get information about opening accounts by American expats but here what happened....Gaybutton wrote:From which bank did you do the transfer?puan wrote:Well, my experimental transfer using TransferWise was a success.
Was the transfer from a checking account or a savings account?
I haven't done much about seriously trying yet, but I still want to find a bank in the USA that will allow me to open an account online, without being physically present in the USA and without a USA address.
I called to Premiere customer service. I was told that expats can open an account with the bank. For details I was referred to the International Centre, tel. +1 877 850 4722. When I called this number, I was told that the person who wants to open account should call herself between 7am-8pm Est standard time. The key question to ask whether it is possible to notorise copies of required documents in Singapore or HK HSBC branches (rather than to travel to US). Also, it is important to inquire about possibility of opening a regular checking account not Premiere one (with Premiere account one needs to keep 100000 USD).
- Gaybutton
- Posts: 21788
- Joined: Sat Jul 31, 2010 11:21 am
- Location: Thailand
- Has thanked: 2 times
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Re: ACH transfers from USA to Bangkok Bank -Alert!
That would be a little on the steep side for me. I wish I had that kind of money, but I don't.gera wrote:with Premiere account one needs to keep 100000 USD.
Re: ACH transfers from USA to Bangkok Bank -Alert!
After successfully setting up my TW account, I initiated a send money transaction ($2000) on Wednesday the 31st. Their system did a handshake with my Schwab Bank account and everything went smoothly with a scheduled delivery date of Nov 2. I checked the TW system regularly and noticed the money was still sitting in my Schwab account so I fired off an email inquiry. Everything was OK was the reply. This morning (Friday), TW finally pulled the money and updated their tracking system with a message showing the delivery date of Nov 5, Monday. I am not happy. Stay tuned.