Thai Banking For Foreigners

[pdogg]

This Sunday (April 28) Khun Waraporn Brand-Srinaka, head of Bangkok Bank’s Global Payment Servicesdepartment--Expat Banking Project, will talk to the Pattaya City Expat's Club.

 

She will talk about personal banking in Thailand, from how to open a bank account,

to on-line banking, to investment strategies.

 

Khun Waraporn will also bringalong a number of staff members from Bangkok, as well as several branchmanagers from the Pattaya area. They will be available for questions before andafter the meeting.

 

 

The meeting is held at the Tavern by the Sea on the grounds of the Amari Orchid Resort and Tower atthe very northern end of Beach Road. Free parking is available and the hotel is

right on the baht bus route. The meeting is free and is open to all. A buffet

breakfast is available for purchase from 9-11 and the meeting begins at 10:30

and ends about noon.

 

 

[deepthroat]

Interesting. I assume this is aimed at the ex-pat, and not the casual tourist? 

 

When I set up my account at Kasikorn 3 years ago, it wasn't difficult, but they were (as far as I could find) the ONLY banking institution that would even allow a foreign visitor without a permanent local residence to deposit money within their hallowed vaults.

[mardhi]

BKK Bank is one of the hardest for 'visitors' to open an account at.     I remember asking our HR girls when I got moved here to set me up with a checking account.    Talk about major hassle for them.   I just assumed it was easy.    Managed to get one at the branch where my employer held an account but even to this day,  staff in BKK bank are amazed I have a checking account (which I actually hardly ever use) and have switched to savings accounts with SCB as they had more branches, more ATM's and less queues.  

 

The good thing is/was that you never need to wait - as soon as they see the cheque book in your hand, they come and pull you out of the queue.  

 

BKK bank have seriously lost out on the Pattaya expat market.  I'd hazzard a guess that almost everyone is using either kasikorn or SCB for their banking.    However BKK Bank do remain the largest bank - which will probably make it even more annoying for them.

[beijo]

Here is something to check out: BKK bank has a branch in New York and one can transfer money from a US account to an Thai account number by way of that branch. Maybe the reverse is true as well, open an account at the US branch of BKK bank and withdraw in Thailand ??????

[xyzzy]

Here is something to check out: BKK bank has a branch in New York and one can transfer money from a US account to an Thai account number by way of that branch. Maybe the reverse is true as well, open an account at the US branch of BKK bank and withdraw in Thailand ??????

 

I don't think you can open a account at BKK Bank in New York. If you have a BKK Bank account in Thailand you can transfer money from a US bank account to BKK Bank in NY via a normal ACH transfer and put it in your BKK Bank account in Thailand. But as mardhi says it's hard to get a BKK bank account. Pretty much impossible for a tourist/snowbird type.

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

[deepthroat]

Here is something to check out: BKK bank has a branch in New York and one can transfer money from a US account to an Thai account number by way of that branch. Maybe the reverse is true as well, open an account at the US branch of BKK bank and withdraw in Thailand ??????

 

Easier to just set up a Kasikorn account in Pattaya, and then when you're back at home you can transfer money using a wire transfer. My credit union only charged something like $10 to transfer my holiday spending money last year.

[xyzzy]

Easier to just set up a Kasikorn account in Pattaya, and then when you're back at home you can transfer money using a wire transfer. My credit union only charged something like $10 to transfer my holiday spending money last year.

 

I should be so lucky. My CU charges $40 and my bank $50.

[Trenton42]

BKK Bank is one of the hardest for 'visitors' to open an account at.     ... checking account.   

 

...

 

BKK bank have seriously lost out on the Pattaya expat market.  I'd hazzard a guess that almost everyone is using either kasikorn or SCB for their banking.   

 

I'd be willing to bet that BKK Bank is more popular that you think.  For one thing, when I retired a few years ago, I discovered that BKK Bank was the *only* Thai bank to which the US government will directly deposit funds.  Don't know if that's because BKK Bank is the only Thai bank that the US government deemed trustworthy or the NYC branch had something to do with it.  But either way, that's pretty important for US retirees wishing to have their SSA checks deposited here each month.

 

I did not try to open a checking account, but a standard savings was dead easy to open as a visitor after I learned the requirements.  Having a certified copy of one's passport opened many doors.

 

Being a long time lurker of a popular Thai visa forum, I would never put much money in a Kasikorn account because I've see too many threads of K Bank's customers complaining of money gone missing.  With regard to BBK Bank; some have complained about their fees, but I can't recall many (if any) threads about funds gone missing.

[xyzzy]

 For one thing, when I retired a few years ago, I discovered that BKK Bank was the *only* Thai bank to which the US government will directly deposit funds.  Don't know if that's because BKK Bank is the only Thai bank that the US government deemed trustworthy or the NYC branch had something to do with it.  But either way, that's pretty important for US retirees wishing to have their SSA checks deposited here each month.

 

  Probably because they can deposit funds in BKK Bank New York as a normal ACH transfer. It's just like direct depositing money into any other US bank transaction wise.

[Trenton42]

I should be so lucky. My CU charges $40 and my bank $50.

 

Check to see if your CU or bank will set up a Standing Wire Order for you; if so, that should drop the price to $10~$15 USD per wire. I know that's a fact for 2 of the top 4 US banks.

 

And FYI: Charles Schwab will give one free international wire per calendar quarter (subject to minimum balance).

[Trenton42]

  Probably because they can deposit funds in BBK Bank New York as a normal ACH transfer. It's just like direct depositing money into any other US bank transaction wise.

 

That’s possible, but the US government directly deposits funds to many different banks in many different countries, and it’s hard to believe that they all have branches in the US.

[pdogg]

Here's some interesting info re Bangkok Bank accounts.

 

BangkokBankBankingGuide_june.pdf

 

 

 

 

[pdogg]

Has anyone ever (or been denied) deposited a check denominated in dollars, pounds, or euros into a Thai baht denominated savings account?  Any special issues other than a long time for the check to clear?