U.S. Social Security Direct Deposit account for pensioner

Ask us anything. Cambodia Expat's Online has a huge community of long term expats that can answer any question you may have about life in Cambodia. Have some questions you want to ask before you move to Cambodia? Ask them here. Our community can also answer any questions you have about how to find a job or what kind of work is available for expats in Cambodia, whether you're looking for info about Phnom Penh, Siem Reap or anywhere else in the Kingdom. Don't be shy, ask CEO's members anything!
BKK Phil
Tourist
Posts: 13
Joined: Sat Mar 02, 2019 4:50 pm
Reputation: 1
Location: Chiang Mai, Thailand
Contact:
United States of America

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

Post by BKK Phil » Sun Mar 10, 2019 9:51 am

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

Phil;how do u get ur SS now? Bangkok bank direct deposit?
OR
just keep it till ur Cambodian account is set up
phuketrichard:

Forgot to answer your one point about keeping my current Bangkok Bank account until either a new Cambo account is set up or until a DirectExpress Debit Card is issued.

Here's the problem:

The Bangkok Bank acc't set up to receive direct-deposit SSA payments must follow certain SSA rules including:

1. The bank is prohibited by the SSA from issuing an ATM/Debit card for that account. This insures that all payments are received by the beneficiary himself and in person at any one of their bank branches; and
2. The beneficiary must present his US passport every-time he makes a withdrawal from that account.

Hence, if I am in Cambo, I would have to literally re-enter Thailand (i.e. get a visa) and go to a Bangkok Bank branch (say in Aranyaprathet, Thailand near Poipet) to get my money each month. And then return to Cambo. That runs about $62. in visas fees alone. I suppose one could do that in extremis.

Concerning another option: From everything I've seen, the SSA paper check mailed to one's address in Cambo is clearly a non-starter, given the uncertainties, bank clearing time and bank fees. Also see Ravensnest's most recent post about US Postal service deliveries to Cambo. Absolutely appalling!


BKK Phil
User avatar
phuketrichard
Expatriate
Posts: 8284
Joined: Wed May 14, 2014 5:17 pm
Reputation: 1194
Location: the far side of the moon
Aruba

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

Post by phuketrichard » Sun Mar 10, 2019 10:11 am

BKK Phil wrote:
Sun Mar 10, 2019 9:51 am
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

Phil;how do u get ur SS now? Bangkok bank direct deposit?
OR
just keep it till ur Cambodian account is set up
phuketrichard:

Forgot to answer your one point about keeping my current Bangkok Bank account until either a new Cambo account is set up or until a DirectExpress Debit Card is issued.

Here's the problem:

The Bangkok Bank acc't set up to receive direct-deposit SSA payments must follow certain SSA rules including:

1. The bank is prohibited by the SSA from issuing an ATM/Debit card for that account. This insures that all payments are received by the beneficiary himself and in person at any one of their bank branches; and
2. The beneficiary must present his US passport every-time he makes a withdrawal from that account.

Hence, if I am in Cambo, I would have to literally re-enter Thailand (i.e. get a visa) and go to a Bangkok Bank branch (say in Aranyaprathet, Thailand near Poipet) to get my money each month. And then return to Cambo. That runs about $62. in visas fees alone. I suppose one could do that in extremis.

Concerning another option: From everything I've seen, the SSA paper check mailed to one's address in Cambo is clearly a non-starter, given the uncertainties, bank clearing time and bank fees. Also see Ravensnest's most recent post about US Postal service deliveries to Cambo. Absolutely appalling!


BKK Phil
wow, never knew that..
forget snail mail to Cambodia.
wont SS just put ur $$ in and than u can get it whenever u wish?> so only need one trip to Arany
U can travel overland 2 x/year visa free with visa exempt, even so a visa is ONLY $40,no idea where u got $62.
or fly in visa free, dont need a visa
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
BKK Phil
Tourist
Posts: 13
Joined: Sat Mar 02, 2019 4:50 pm
Reputation: 1
Location: Chiang Mai, Thailand
Contact:
United States of America

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

Post by BKK Phil » Sun Mar 10, 2019 10:17 am

phuketrichard:

I was assuming--erroneously, I guess--that I had to pay THB 1,000 to enter Thailand and $35. to return to Cambo.

Presumably Thai Immigration will also require to see THB 20,000 when entering Arany?

BKK Phil
TWY
Expatriate
Posts: 47
Joined: Wed Sep 26, 2018 10:18 pm
Reputation: 13
Macedonia

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

Post by TWY » Sun Mar 10, 2019 3:42 pm

I may have missed this in one of the posts so I apologize if its redundant.

The Direct Express® Debit MasterCard® charges $3 plus 3% for foreign ATM cash withdrawals. That's on top of the fee you'll pay the local bank.

They also charge 3% for all foreign transactions (ie purchases).

The card is excellent for those within the USA that don't have access to a bank account, but I'd not recommend you rely on this if your living in Cambodia. Your giving up 3% of your income at a minimum.
TWY
Expatriate
Posts: 47
Joined: Wed Sep 26, 2018 10:18 pm
Reputation: 13
Macedonia

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

Post by TWY » Sun Mar 10, 2019 4:00 pm

Just one other thing I'd throw in.

Not to be morbid, but eventually we all die. SS is very stringent on retrieving money paid out to the deceased. You'll want to ensure that your family has all your banking and SS details. That way you can avoid the situation where you pass away but no one contacts SS for a month or two and then your children are faced with the situation where they have to try to retrieve money from a Cambodia bank.

I don't have any experience with this in terms of Cambodia specifically, but I know someone that had a similar setup in an African bank and it was a total disaster when two SS checks ended up being deposited post death. His son ended up reimbursing SS himself. IF I recall - you have to be alive for the entire month or you have to return that month's payment. So just do a little work now to avoid having your kids doing a lot of frustration later. My friend never got the money back from the bank - they "required" he appear in person to give a thumbprint or signature or something (this was 10-15 years ago) and it became obvious that even if he did show up he's fly back home with nothing.
User avatar
phuketrichard
Expatriate
Posts: 8284
Joined: Wed May 14, 2014 5:17 pm
Reputation: 1194
Location: the far side of the moon
Aruba

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

Post by phuketrichard » Sun Mar 10, 2019 4:18 pm

TWY wrote:
Sun Mar 10, 2019 4:00 pm
Just one other thing I'd throw in.

Not to be morbid, but eventually we all die. SS is very stringent on retrieving money paid out to the deceased. You'll want to ensure that your family has all your banking and SS details. That way you can avoid the situation where you pass away but no one contacts SS for a month or two and then your children are faced with the situation where they have to try to retrieve money from a Cambodia bank.

I don't have any experience with this in terms of Cambodia specifically, but I know someone that had a similar setup in an African bank and it was a total disaster when two SS checks ended up being deposited post death. His son ended up reimbursing SS himself. IF I recall - you have to be alive for the entire month or you have to return that month's payment. So just do a little work now to avoid having your kids doing a lot of frustration later. My friend never got the money back from the bank - they "required" he appear in person to give a thumbprint or signature or something (this was 10-15 years ago) and it became obvious that even if he did show up he's fly back home with nothing.
1st thing that happens when u die,
police are contacted, they visit where u died an take all atm cards, cc's an bank books and the embassy is contacted, ALL bank accounts/atm cards are placed on Hold
American embassy (not sure about others) contacts SS ( at least they say they do here in Thailand)

Advise to all
have
1. a living will
2. a real will made up and accessible to whoever you designate as your EXECUTOR
with specific info on $$ an bank info..
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Ifrenchkiss, IraHayes, lurcio, TOG and 128 guests