U.S. Social Security Direct Deposit account for pensioner

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U.S. Social Security Direct Deposit account for pensioner

Post by BKK Phil » Sat Mar 09, 2019 3:19 pm

Gents (& Ladies?)

I will soon arrive in Phnom Penh, E-class visa in hand, to settle into retirement. Will need to set up a Cambodian bank account to receive my Social Security Direct-Deposit payment monthly. This involves the SSA in the U.S. transmitting electronically my retirement pension directly into my Cambodian bank account; I presume many Cambodian Banks have not handled these, the www.SSA.gov website indicates only 160+ American citizens are currently enrolled in Cambodia to receive their monthly pensions in this way.

Can anyone indicate to me which Cambo banks are known to have set up such accounts? And if so, what might be their requirements to open the account?

BTW, the SSA's FBU office in Manila will not provide us the list of Cambo banks that do this, as they do not want to "show preference."

Thanks BKK Phil
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by Chamboy » Sat Mar 09, 2019 4:13 pm

It's been a rough long road, but I've had an account based on retirement checks for over 10 years now. That is in the Kampong Cham branch of Cambodia Public Bank.

Good luck, most banks don't want to take on U.S. Treasury and IRS paperwork. So, be prepared for gently slammed doors.
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by BKK Phil » Sat Mar 09, 2019 4:37 pm

Well, I'll be arriving in Phnom Penh (PP next month and intending to live in the city. I've read elsewhere that CPB is the best bank to deal with on this subject, and the favorite of expats generally. Will try the CPB main branch in PP and report back to this forum when I have results. Thanks

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Re: U.S. Social Security Direct Deposit account for pensioner

Post by beaker » Sat Mar 09, 2019 4:54 pm

You can open an account, have your check direct deposited and use the debit card here in the KOW ATMs

For US citizens living abroad, opening and maintaining a US bank account has been a BIG problem. Now ACA is delighted to provide this simple solution—the ACA-Members/SDFCU Account, developed by ACA in cooperation with the State Department Federal Credit Union (SDFCU).

https://www.americansabroad.org/
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by Duncan » Sat Mar 09, 2019 5:04 pm

I think this subject has been raised here a few times in the past, but I have forgotten why US pensioners cannot have their money directly deposited into their bank account in ''the good old usa'' and the pensioner would use his card at any ATM anywhere in the world to get his money.

OK, that's how uneducated people in uneducated countries like Australia do it.
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by BKK Phil » Sat Mar 09, 2019 5:07 pm

Hello beaker:

I am still here in Chiang Mai, and have been looking into these issues since November--with not too much help, I must say, from the SSA FBU Unit in Manila.

Due to my departure date from Thailand 5 April, I must arrive in PP and get the direct-deposit (IDD) acc't set up in time for 1 May to collect the next month's pension.

I have been directed to the Cambodia Public Bank to open the IDD account--would you agree with that choice? What are their requirements to open an acc't?


I have spoken with the DirectExpress Debit Card people and they can set that up for me but the processing time is 2-3 months. Hence the need for the immediate IDD bank account.

Am also familiar with the ACA/SDFCU but didn't go ahead, thinking the IDD option would move faster.

Your thoughts?

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Re: U.S. Social Security Direct Deposit account for pensioner

Post by BKK Phil » Sat Mar 09, 2019 5:15 pm

Duncan wrote:
Sat Mar 09, 2019 5:04 pm
I think this subject has been raised here a few times in the past, but I have forgotten why US pensioners cannot have their money directly deposited into their bank account in ''the good old usa'' and the pensioner would use his card at any ATM anywhere in the world to get his money.

OK, that's how uneducated people in uneducated countries like Australia do it.
Duncan: Yours is a good question, and a logical one. In my case, I have lived and worked abroad since 1975 (I am 72 now) and have not had a US-based bank account for over 10 years. No US bank (NONE) will open a savings account for you today via online application unless you can produce documentary proof that you are a current resident of the USA and at a particular address. I know, I've approached 15 banks online in the past two months.

The ACA/SDFCU option and the DirectExpress Debit Card options [mentioned in prior posts] are good but they require 2-3 months to process.

The direct-deposit into a Cambo bank account remains an excellent option--speedy and a fair exchange rate dollar-to-riels.
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by phuketrichard » Sat Mar 09, 2019 5:21 pm

my ss (i live in Thailand) goes into my US Citibank account and once a year i wire money over
simple, easy
wouldn't want to use my atm card as the fees and exchange rates suck
wont change when i move over to Cambodia in 2020

Phil;how do u get ur SS now? Bangkok bank direct deposit?
OR
just keep it till ur Cambodian account is set up
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by Duncan » Sat Mar 09, 2019 5:25 pm

phuketrichard wrote:
Sat Mar 09, 2019 5:21 pm
my ss (i live in Thailand) goes into my US Citibank account and once a year i wire money over
simple, easy
wouldn't want to use my atm card as the fees and exchange rates suck
wont change when i move over to Cambodia in 2020
Almost worth a trip back to the usa for BBKPlil to set a bank account all up if one plans on living for another 28 years.
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Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: U.S. Social Security Direct Deposit account for pensioner

Post by BKK Phil » Sat Mar 09, 2019 5:31 pm

phuketrichard:

I've been with BBL direct-deposit accounts for 9 years--first in BKK and now Chiang Mai. But departing next month for Cambodia and want to set up a new direct-dep. acc't with a local bank there.

My preference would be the fantastic DirectExpress Debit card, managed by the SSA itself, but that requires 2-3 months processing time--which i don't have right now. Maybe once I've settled in Cambodia, I'll switch over.

Link: [https://www.usdirectexpress.com/index.html][/url]

BKK Phil
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