Best bank account for Expat (I have a WP)

[Kjglen]

Hello all,

 

I’ve just had my WP and now I can open a bank account. What’s the best bank account I can open? Something I can hopefully use online to pay for goods and food shopping 

 

Thank you in advance 

[KhunBENQ]

Moved to banking forum.

 

2 hours ago, Kjglen said:

Something I can hopefully use online to pay for goods and food shopping 

Sounds quite moderate.

With a WP you should be able to get a current account with online access at all major banks.

I have Bangkok Bank, SCB and Kasikorn, all with internet access (no WP, all savings accounts).

Two factor authentication via OTP to the mobile phone.

Instant bank transfers possible (with or without fee, depends).

 

Direct debit/bank transfer is easy with each of those.

With Kasikorn I have a web shopping "card'.

Just a set of debit card data that can be used for online payments (maybe only within Thailand, have not verified). SMS alert for all transactions.

 

But with a WP you should also qualify for a real credit card to name just one additional feature.

[pearciderman]

33 minutes ago, KhunBENQ said:

But with a WP you should also qualify for a real credit card to name just one additional feature.

 

Albeit probably having to put on hold the same amount as the credit limit.

[nycjoe]

Bangkok Bank has branches in New York and London for sure and perhaps Australia? Easy to transfer money from my US account to Bangkok Bank account without wire transfer fees.

 

[tomwct]

As an American living in Thailand for 15 years, DO NOT OPEN A BANGKOK BANK ACCOUNT. They are the most uncooperative and lousy customer service. I would go with Krung Thai or Kasikorn Bank. When I first came to Bangkok,

I opened an account at Bangkok Bank. My balance always was 1-2 Million Baht. After 3 years, I asked for a Visa Credit Card. They said okay, but they would hold 200,000 on my savings account. I said No, I wanted a card unsecured credit based on my 3 years and large balances. They said it was illegal in Thailand (LIE). I also had another account with Krung Thai because I was now teaching part-time at RMUTI in Korat and my salary would be deposited there. I kept very little funds in that account. I went to the Manager and he said sure. How much credit do you need? I said 150,000. He said okay and it would be 2-3 weeks before receiving my card. About one year later at The Mall, a cute girl with Citibank asked me if I wanted a card. I said sure. She asked me a few questions and I received a card

3 weeks later with 150,000 credit line. She said I had excellent credit with the credit bureau. When my wife and I decided to buy a house 5 years ago, I went to Krung Thai and the Manager said he would call me tomorrow. He called back and said how much. I told him 3 Million he said no problem, so go with a good bank and I recommend Krung Thai Bank. Also, I can get an auto loan if needed from KTB!

I also closed my Bangkok Bank account and transferred my money to KTB>

 

Edited September 27, 2017 by tomwct
Add more detail.

[brewsterbudgen]

Maybe it depends on which branch you use, but I've banked with Bangkok Bank (Emporium Branch) since 2005 and have found them to be excellent!   I would have no hesitation in recommending them.

[steven100]

Bangkok bank is fine. I've used them to transfer millions of baht over the years.

Their service is excellent.

[jgarbo]

14 hours ago, KhunBENQ said:

Moved to banking forum.

 

Sounds quite moderate.

With a WP you should be able to get a current account with online access at all major banks.

I have Bangkok Bank, SCB and Kasikorn, all with internet access (no WP, all savings accounts).

Two factor authentication via OTP to the mobile phone.

Instant bank transfers possible (with or without fee, depends).

 

Direct debit/bank transfer is easy with each of those.

With Kasikorn I have a web shopping "card'.

Just a set of debit card data that can be used for online payments (maybe only within Thailand, have not verified). SMS alert for all transactions.

 

But with a WP you should also qualify for a real credit card to name just one additional feature.

BBL is the best. Most coverage. And all international transfers clear through BBL foreign exchange service (unique), so you get your money fastest. I've been with them for 30 yrs. Very helpful (if you speak Thai politely).   

[William T]

I  have KTB and would recommend them.

I have their Visa Debit Card and after getting it 'Verified by Visa' you can use it to purchase items via the internet.

Their internet banking is good. I often transfer money to poor Thai girls and it only takes a few minutes for the money to get to their ATM.

 

And some of the girls in the Pattaya Tai branch are more than worthy of a barfine.

[VocalNeal]

Kjglen,,Where maybe important.  CIMB is OK but only if you live in BKK.

[1FinickyOne]

It probably depends on where you are located and then the local branch manager... I have been here for a long time and found that I consistently get the best service in the places where they know me best... you may not need many services. 

[Thingamabob]

Varies enormously from branch to branch.

[YT3k72Em]

Don't go to Bangkok Bank if you:

1) want a credit card (they require a secured deposit which other banks don't)

2) want a debit card that's not Union Pay (they stopped issuing Visa debit cards unless you want to jump through hoops)

 

Kasikorn are good. Their mobile banking app is good.

[BV70]

2 hours ago, YT3k72Em said:

Don't go to Bangkok Bank if you:

1) want a credit card (they require a secured deposit which other banks don't)

2) want a debit card that's not Union Pay (they stopped issuing Visa debit cards unless you want to jump through hoops)

 

Kasikorn are good. Their mobile banking app is good.

Second this.  BKK Bank claim they've ended all Visa services and their alternative Union Pay card isn't accepted by many restaurants and shops in Bangkok, never mind online payments.  That can be a real hassle if/when travelling around especially if you need to use your card outside Thailand.

[MyFriend You]

2 hours ago, BV70 said:

Second this.  BKK Bank claim they've ended all Visa services and their alternative Union Pay card isn't accepted by many restaurants and shops in Bangkok, never mind online payments.  That can be a real hassle if/when travelling around especially if you need to use your card outside Thailand.

Union Pay = Chinese Company = license to steal.  Wouldn't have one.

[asiaexpat]

Still a lot of misunderstanding about BBL. I have been with BBL (Bangkok) for 11 years and found them to be much better than K-Bank to TMB for foreigners. As to Visa debit cards, I have one issued by BBL, so they do issue and service them. If one has a work permit BBL can issue a non-secured credit card if the applicant meets all requirements. However, your experience with BBL may vary from branch to Branch and by location. 

[OMGImInPattaya]

I forth or fifth the slagging of BBL...I have not been particularly impressed with their service at accounts I had in Bangkok or Pattaya. Their ATM network also is a bit thin on the ground. They almost act as if it's a privilege they let you bank with them (i.e., lend them money at virtually zero interest). I prefer Kasikorn, Krungsri, or Siam Commercial, where I have accounts. Siam and Krungsri have useful and easy to use mobile banking apps, while Kasikorn has their K-web virtual Visa debit card, which comes in handy for web transactions. 

 

I shall have investigate what Krung Thai has romoffer, as several members seem happy with them too.