Bangkok Bank

[mogandave]

I am relocating from Prachinburi to Bangkok and need to open a new bank account. Thinking about Bangkok Bank to facilitate payments from the US.

 

Do I need a particular type of account to receive payments or is an ordinary savings account okay?

 

Thanks,

 

Dave

[lopburi3]

That is fine and what most people have.

[NanLaew]

If the inbound remittances are from the OP's own named US accounts, investment accounts or personal pensions, the standard BB savings account will suffice. Standard ATM access and transactions are also allowed.

 

If the OP is planning on having any government payments such as SSA or military pensions paid direct to BB, I understand there are limitations on local access to those funds once transferred to the BB account, ie. no joint account, teller-only, personal attendance at the bank to withdraw and/or transfer, no online access and no ATM access is allowed.

 

BB does have a facility where a remittance originating in the US has as its final destination a BB account in Thailand, the funds can be transferred via BB's NYC branch, ie. transfer domestic between US account and BB NYC account and BB NYC does the international transfer to the Thai domestic account. Rates, fees and transfer times are all acceptable.

 

BB's website has most all the details.

[mogandave]

Thanks for the responses.

Social Security is still about 5 years out. As long as the transfers from my personal accounts in the US are cheap and easy it should work out.




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[Langsuan Man]

Since you have to open a new account anyway pick a branch of Bangkok Bank that is located in a shopping mall,  so you will have more flexible hours for banking 

[mogandave]

1 hour ago, Langsuan Man said:

Since you have to open a new account anyway pick a branch of Bangkok Bank that is located in a shopping mall,  so you will have more flexible hours for banking 

Are they full service?

 

[jackdd]

You could also get a debit card that allows free withdrawals at any ATM (if Bangkok Bank offers such a card) then you don't have to open a new account.

[mogandave]

10 minutes ago, jackdd said:

You could also get a debit card that allows free withdrawals at any ATM (if Bangkok Bank offers such a card) then you don't have to open a new account.

 

I have two concerns:

1. I will need to make transfers from the US

2. Transfer fees between different provinces

 

I have a good Chase no-fees US based credit card I and a no-fees Fidelity ATM I can use for pocket money.

[NanLaew]

25 minutes ago, mogandave said:

Are they full service?

 

Typically yes but they can be very busy, especially at weekends. If the weekend, shopping mall flexibility is desirable, I would make sure that you select a decent sized mall branch that has air conditioning, plenty seating and at least half-a-dozen teller desks. Some BB mall branches are open air, have a couple of desks and half-a-dozen chairs and can be a bit of a chore on busier, payday weekends.

 

My personal choice has always been for a main branch, especially for account setting up as they should have all the stuff on-hand, familiar with what they offer and can handle any questions. Unless you are in a touristy place, the mall branches may be a bit less worldly.

[NanLaew]

17 minutes ago, mogandave said:

 

I have two concerns:

1. I will need to make transfers from the US

2. Transfer fees between different provinces

 

I have a good Chase no-fees US based credit card I and a no-fees Fidelity ATM I can use for pocket money.

1. The ACH transfer via BB NYC should work for you then. I have an account with Bank of America and once in a blue moon send some money this way to my BB account here. If you maximize the time zone difference and have the transfer from the US already set up for when the US bank opens, it typically clears in within 24-hours and as mentioned, rates and fees are better than some.

 

2. If I recall correctly, a certain amount of BB's online Bua Luang transfers/month are free. I also recall that inter-province transfers can attract either 25 baht or 35 baht surcharges. Similarly, doing a transaction such as a pay-in at an up-country branch (different from host branch) also incurs 20 or 30 baht fee.

 

BB also has PromptPay which is an easier way of transferring money to or receiving money from third parties as opposed to setting up 3rd party payee account details on the PC-based app. They also have a very good smartphone app that provides a faster interface to all the actions that can be done on their PC app although some things will need to be set up (such as new 3rd party accounts) on the PC app before they can be accessed on the smartphone app.

 

It's all in the small print.

[mogandave]

4 minutes ago, NanLaew said:

Typically yes but they can be very busy, especially at weekends. If the weekend, shopping mall flexibility is desirable, I would make sure that you select a decent sized mall branch that has air conditioning, plenty seating and at least half-a-dozen teller desks. Some BB mall branches are open air, have a couple of desks and half-a-dozen chairs and can be a bit of a chore on busier, payday weekends.

 

My personal choice has always been for a main branch, especially for account setting up as they should have all the stuff on-hand, familiar with what they offer and can handle any questions. Unless you are in a touristy place, the mall branches may be a bit less worldly.

Not sure how to tell a main branch, but I am thinking about a free-standing branch in Lat Krabang that has a decent parking lot.

[lopburi3]

Freestanding would be a main branch and observe normal workweek.  But unless you have a restricted account (US Government deposits) you probably will never need to use that original bank again anyhow as most functions can be done at any branch now and mall type places are open 7 days a week (but there is a current trend to close many banks) as there is an oversupply with electronic and internet banking taking over the picture.  

[NanLaew]

6 minutes ago, lopburi3 said:

most functions can be done at any branch now and mall type places are open 7 days a week

With regard to replacement savings account books, replacement cards or getting a non-online printed statement or 'bank letter' for immigration matters, these have to be done at the 'host' branch. Not a great inconvenience if you keep tabs on how many pages are left on the book, expiration dates of cards, immigration due dates, etc..

[lopburi3]

8 minutes ago, NanLaew said:

With regard to replacement savings account books, replacement cards or getting a non-online printed statement or 'bank letter' for immigration matters, these have to be done at the 'host' branch. Not a great inconvenience if you keep tabs on how many pages are left on the book, expiration dates of cards, immigration due dates, etc..

I obtained my last debit card from a local branch rather than home branch.  Many people obtain bank letters from a different branch office (many use the facility below immigration here in Bangkok for immediate service).