Reader question: WAO payment on account at Kasikorn bank, what are the consequences?

Dear Frank,
I understand that you have already instructed the UWV to transfer your benefits to your Thai account, would it not have been more convenient to find out all this before you ordered??
It will certainly not be received on the 23rd, the payment order will go out on the same day as the one to the Dutch accounts, from experience I would take into account an extra week before it is on your Thai account, just write something yourself about from a Dutch. bank to a Thai bank, I waited everything between 5 days and 10 days, the UWV will certainly not make an earlier payment for you and of course it takes a little longer to get to a Thai account.
The costs for the transfer are entirely for your account, I don't know how much that is at your bank, but it should be fairly easy to find out, the UWV is really not going to contribute to transfer costs.
If you have opted for payment in Euros or Bath, that is possible, so also take exchange rate differences into account, which can be both favorable and unfavorable.

Good luck with it and I would appreciate it if you let me know the results, so I can add it to my archive, my email address is [email protected]

Yours faithfully,

Lex K.

From this month I will also have my pension transferred directly from the Belgian pension service to my Kasikorn account, which will now be on April 28. I have heard from a good friend who is familiar with these matters that in Belgium they charge 17 euros transfer costs on the net pension amount and here at the bank that would mean 1,8% handling or conversion costs after conversion to THB. On a (fictitious) amount of 1.800 euros and at the current exchange rate of 44,16 THB/euro – 1,8%, that would be: 17 euros + 32,09 euros = 49,09 euros in total costs. Pinning costs me 3 x 180 THB (12,20 euros) + 3 x 12 euros handling and transfer costs in Belgium: = 36 euros; 12,20 + 36 euros = 48,20 euros. So corresponds to the costs for direct transfer (less than 1 euro difference). On the other hand, I can always access the full amount transferred, which has not been the case so far: I can only withdraw 25.000 THB at a time and have to wait a week before being able to withdraw the next 25.000 THB. Here I would receive the amount in my account after 4 working days, but as I see in the comments, it could be earlier. So from the 28st. check my account when the pension will actually be in my account and how much the actual costs will be. The pension service has given me a list with the payment dates for this year, so I can always see when the next transfer will take place and I will also be notified by e-mail every time.

As usual, these kinds of questions come with many different answers, I have taken the time to visit the UWV site and share the following information with anyone who is interested.
Quote from the UWV site is literally cut and pasted, so directly from the source.

“I have a foreign bank account
Do you have a foreign account number on which you want to receive the disability benefit? Please inform us of this in writing. For example, by letter or via the Report changes abroad form. If you have disability benefits. We need the following information:

the IBAN code, this is your international account number;
the BIC code, which is your bank's unique code.
Please note that a payment to a foreign bank account takes longer. As a result, you will receive your benefit later.

In which currency will I receive my disability benefits?
The currency in which you receive your benefits depends on the country where you have your bank account:

Do you have a bank account in the Netherlands, a country of the European Union (EU), a country of the European Economic Area (EEA), Switzerland or a treaty country? Then your benefit will be paid in the local currency of that country, for example the euro.
Do you have a bank account in a country other than one of the above countries? Then you will receive your benefit in US dollars. The bank of your country of residence may then decide to convert the US dollars into another currency. That is usually the current currency of that country.
Receive disability benefits in a different currency
Will you receive your benefit in a currency that is unfavorable to you? Then ask UWV to pay the benefit in a different currency. We will then investigate whether our other customers in your country also find the currency unfavorable. Is that the case? We can then pay the benefit in a different currency if necessary. This then happens for all benefit recipients in that country. Please note that the bank of your country of residence may decide to convert the payment into another currency.” End quote.
In short: the payment may take longer
Thailand is a treaty country so the payout is in Bath,
I can't find anything about the costs they charge on the UWV site,
those costs will therefore have to be collected from the banks.
I hope this has helped some people.

Yours faithfully,

Lex K.