Reader question: Bad experience with transferring AOW to Thailand by ING

I also receive my state pension + pension in my account. Transfer it myself via the internet and have it in my account in 2 to 3 days, it takes longer during the weekend. Never had any problems, and when transferring I click on costs recipient. I live in Thailand. Make sure you check carefully whether you have a correct address and account number, so just do it yourself. Another advantage is that you can wait to transfer until the exchange rate is more favorable. I make sure that there is enough in my account here so that I can just take my time and sometimes deposit 2 to 3 months in one go, which again saves on costs.
Greetings Herman

For many years I have been transferring my money to Thailand myself. I control that myself. I receive my income on my Ing account in TH. I then choose the moment when I transfer (part or all of) the money to my Bangkokank account. All through internet banking. Doing it yourself means keeping control yourself, and not depending on the whims and antics of a bank, in this case. See of course also response from @Herman Lobbes.

Set the costs option to BEN. ING then does not charge any costs. Your bank in TH does. My experience with BKB is that I spend about 50 baht per 1000 euros in TH. Of course, this traditional Thai bank can differ. Any exchange rate difference disappears if you compare the exchange rates over different days. But considering the size of a month. AOW amount, you are only talking about a handful of baht.

Last week received a link from @Freddie. He accused me of incorrect information and that ING always charges costs. All incorrect. I think he himself did not read the contents of the link. Apart from BEN, the other options are: SHA: you divide the costs between your ING account and those in TH; and OUR: you pay the costs from your ING account. So as the questioner opts. A monthly expensive and unnecessary affair.

The link to the ING foreign transfers and the costs: http://www.ing.nl/particulier/betalen/buitenland/buitenland-betaling/wereldbetaling/index.aspx
The text reads: “OUTGOING via MijnING costs of BEN 0,0 euros.” I can't make anything else out of it.

Why would you make it so difficult?

There are a number of problems and losses that you can avoid.

ATM is of course out of the question, 180 b, limited withdrawal, wrong exchange rate etc.
VISA, Matercard etc. for money, you must be crazy, 3% currency exchange rate, wrong exchange rate etc.

SVB transfer, do you really want to know that much about you, apart from costs and mistakes

Rabo bank, occasionally transfer a relatively large amount, say once every six months, gives interbank exchange rate and 10 euros or thereabouts costs.

e can also arrange “drawing rights” with say channel island banks, for those who have this kind of account. You can then write and collect a personal check at a very low rate and the amount will also be debited weeks later.

If you occasionally do work outside Thailand, like me, then directly to Thailand bank with the bhetaleing, not through EU, given the leaky banking system which could cause you problems later

Of course, the bank does not work for nothing. But the most unfavorable thing is to withdraw Thai Baht from your Dutch Bank account with a credit card or a bank card in Thailand via an ATM machime (ATM). You become three, take your pick” extra costs 150 Baht, the normal costs and the exchange rate is much less favorable than with banking. (the last time I did a test, the costs were 16% of the withdrawn amount) By my bank account, on average less than one percent.
Even at that one ATM machine, I forget the name (Aon??) it is still expensive.

Hi, I see that the discussion is already about all sorts of things and that there are very few who answer your question. The first time I transferred money from my ING account in the Netherlands to my wife's account in Thailand, it also went wrong. I got my money back and then paid a 35 euro processing fee for that as well. It turned out that I had not filled in all the details correctly. I then had my wife ask for all the details from the bank branch and nothing ever went wrong after that.
Make sure you fill in all the details correctly.
A. The name of the beneficiary must exactly match and the account holder.
B. Place beneficiary. Enter not only the city name, but also the province. Place names often occur in several provinces.
C. Recipient account number. Speaks for itself
D.Bic bank beneficiary. Ask your bank. In my case the kasikornbank is KASITHBK.
E. Beneficiary Address. Address as on the statements. Otherwise, ask your bank
F Name beneficiary bank. Ask your bank. Branches often have their own name.
My branch was called Kasikornbank PCL.
G. Bank address. You should also ask the bank about this because it is not self-evident that this is a street name. For example, my sofa is located in a Tesco lotus in Ban Pong. The address I had to use is Tesco lotus Ban Pong Branche.
F Place bench. Again state the city and province here.
My advice: Ask your bank for the details and it can't go wrong.
Good luck, Adje