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ianguygil

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Posts posted by ianguygil

  1. If this is Bangkok Bank (KTB is blue also but a light blue) then please PM me and I can try to help. We have many millions of customers on Mobile of which many tens of thousands are not Thai. PM me, and I will give you my Bangkok Bank email and we can do it from there. Please do not send me any sensitive information in the PM. Just how we make contact

     

     

  2. Information required when sending funds abroad via SWIFT

    To transfer funds overseas you will need the following information:

    • The recipient’s account name, account number and address.
    • The name and address of the recipient’s bank.
    • The SWIFT address of the bank that they have an account with (if any).
    • Supporting document (for Thai citizens, a document stating the purpose of the fund transfer; for foreigners, a document stating the income’s source).
     

    If transferring funds to a bank account in Europe or the Middle East, senders should ask recipients for their IBAN.

     

    Transferring out of Thailand (bangkokbank.com)

     

    • Like 2
  3. It is per account holder per financial institution.

     

    One thing I would note is that across the world central banks increase deposit insurance when there are problems with banks, they do not decrease it. Just look at the FDIC going from 125K to 250K in the financial crisis.

     

    I usually post on this forum very rarely. I must admit it is pretty amusing to see the conspiracy theorists thinking that I have some ulterior motive for posting, as if I will make money by doing it. Love it. Ignore the facts and cast accusations. It will serve you well when financial problems really happen. 

     

    Enjoy ????????

    • Like 2
  4. This is something mentioned before in another post, and I am sure it will be offered by other Thai banks. But the convenience and immediacy of PromptPay is now extended to international payments, initially limited to just between Thailand and Singapore, but soon moving to other markets.


    As with the International QR code payments between here and Vietnam, the BOT and Thai commercial banks are moving quickly to have the kind of convenience and affordability that other parts of the world can only dream of for international remittances. The FX rate will be excellent and the fees very low.

     

    Take a look at our Website for a simple explanation of how this works on Mobile Banking. More countries to come, but I won't get into where and when because it is not my role to handle those kinds of communications. I am just a propeller head doing the actual execution of this stuff.

    Enjoy

     

    PromptPay International (bangkokbank.com)

     

     

    • Thanks 1
  5. PIB, just want to comment on what an amazing job you do explaining these things and taking the time to lay it all out clearly. Thank you sincerely for taking the time. You actually use these services and you know the ins and outs and I welcome your comments and criticisms 

     

    Thanks again for doing such a great job. I am a propeller head and I can explain the Tech stuff, but as far as the voice of the customer you are without equal

    • Like 2
  6. 18 hours ago, lopburi3 said:

    And the exchange rate is?  And the Thai bank charge?  

    TransferWISE normally beats others that may have lower fees due to better exchange rate and no Thai bank charge as money is in Baht.  

    As I said before commissions, fees and rates are all involved so the best thing to do to understand exactly your effective rate is to divide the number of Baht you receive with the total you paid in USD including the amount transferred, fees and commissions. Then you know your actual Effective Rate. Many of the Retail products are not a good deal when you look at it this way, which is the only objective way to look at it.

     

    I am absolutely not here to push our services. Just to answer questions when I have a spare 5 minutes waiting for a meeting. 

  7. 3 minutes ago, ctxa said:

     

    I understand this. Indeed when I first opened my accounts at Bangkok Bank I did bring the "reference letter" and it was opened without issues. Problems arose when every time I went to any branch to do just about any procedure (replace used up passbok, statements, replace debit card).... they would ask to see my passport and work permit, and then I would have a hard time explaining that I don't have a work permit because I don't need to because I don't work in Thailand. There was one time when they told me they couldn't do what I wanted because I had no work permit despite having an account with them and some money deposited with them. 

     

    Eventually I opened another account at Krungsri without work permit nor reference letter, and even applied a credit card with them without a work permit (I had to pledge a deposit obviously).

     

    I am not saying Bangkok Bank is bad, far from it. My banking experience with them was exceptional, the only thing I can complain is that dealing with them in person was a waste of time because of the issue of me not having a work permit, and also communication issues given that I don't speak Thai.

     

    Thanks for the response. 

     

    I will get back to the forum on if this is still a compliance issue. If it is clearly we need to adhere to it and can't comment on other banks not doing so. 


    FYI, I am a Senior EVP. I have PR But I still sign tens of copies of my passport every year in this country. Even in the Bank. 

    • Like 1
    • Thanks 1
  8. Sorry if we disappointed you. I will give them the feedback


    I run all the Digital stuff so I am not directly involved in the Branches, but one of my peers runs the Branches nationwide and I will bring this to her attention. 


    A quick update on this. My understanding is that the requirement for a "reference letter" for a new account is a regulation and not something at our discretion to ignore. I will double check on that to ensure that is still current, but that is where this came from. Here is the link to our website

     

    Savings Account (bangkokbank.com)

    • Like 2
  9. 10 hours ago, ukrules said:

    Perhaps the central bank should issue their own digital 'internet age' currency.

    There's still time to be the first country in the world to do this.....

    My prediction - they will do nothing, someone else will do it (like this one) and there's nothing they can do to prevent it or prevent people from using it.

    The Thai Central Bank does have Project Inthanon which is a Digital Currency tied to the THB and is in fairly late stage trials. This is all public. This is not for use by Consumers or Business but is for realtime gross settlement between banks. Not something for you guys to all have to understand, but the fact is that Thailand is actually on the forefront of this, not lagging.

    They are working with the leading Thai banks and the R3 Distributed Ledger company. I am involved and I can answer questions offline. The Bank of Thailand is also working with the HKMA (Hong Kong Monetary Authority) to integrate Inthanon with Lionrock (the HKD effort for a Digital Currency). These things are moving along nicely.

    The BOT has a lot of smart people. We are fortunate to have them serving the country. While I know many on this forum like to beat up everything Thai, you could not be more mistaken. Here is a link to read up on it. PM me if you want more info. I will share what is public. 

    The outcomes and findings of Project Inthanon-LionRock and the Next Steps (bot.or.th)

     

    • Like 1
  10. We put this together some years ago to answer the questions regarding the purchase of a Condominium in Thailand. We hope this makes it easy to understand what is and what is not required. While we would love your business, much of this applies no matter which bank you use.
     

    I attach both the PDF and the link to our Website. We have many tens of thousands of expat customers. Your business is always appreciated.

    PDF for Web BBL (bangkokbank.com)

    Ian

    BuyingCondo (1).pdf

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