Opening a New Account in Citi Bank Thailand.

[onera1961]

Does anybody have any experience with opening a citi savings account in Thailand? I am coming to Thailand for one year on O-A (Long stay) visa and probably extend it after two years. I have a Bangkok bank saving account. I am planning to open a Citibank account as I have a Citibank account in the US. Does a citi bank account provide any advantage? Or I should stick to Bangkok Bank?

 

In the future if I buy some property, e.g. for 2 million, what is better option? Money in Bangkok bank or in Citi bank?

Edited April 11, 2018 by onera1961

[Langsuan Man]

2 hours ago, onera1961 said:

I have a Citibank account in the US. Does a citi bank account provide any advantage?

Depends upon which type of account you have.  "Benefits" in Thailand are strictly limited to the amount of money  you have tied up in your account.  Just remember that CitBank only has ATM's and  offices in Bangkok

 

I had a US account with them from when I was employed here but in my travels found that CitiBank was like McDonalds, a franchise and really not an International bank.  Fact driven home when I tried to use my CitiBank ATM card in Frankfurt and was charged both a currency exchange fee and the out of network fee for cash taken out of a CityBank branch ATM

 

All you really need here in Thailand is a couple of US Bank ATM cards that reimburse you for foreign ATM use.  Two off the top of my head are Schwab and Fidelity.  And you already have a Bangkok Bank account so you can use the Bangkok Bank's New York branch to do EFTS to your BB account here in Thailand 

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/

TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

 

[dotpoom]

Shouldn't  make any difference which bank it is regarding your 2nd. question. 

[Pib]

Don't ever think Citibank Thailand operates under U.S. bank laws/rules/regulations; "all" banks in Thailand, whether foreign-owned (having a foreign name) or Thai-owned, must be licensed/operates under Bank of Thailand regulations and Thai laws.   And most of them are card-carding members of the Thai Bankers Association which seems to be nothing more than a banking cartel.  Summary:  all banks in Thailand are nothing more than Thai banks with or without a foreign name.

 

Now you "may" get a few extra benefits from staying within the Citibank family, but I think you will find trying to open a new account will not be any easier/have any fewer account opening requirements than a person who has no relationship/account with Citibank anywhere else in the world.  

Edited April 12, 2018 by Pib

[sloperating]

I found opening an account at Citibank easier than at several other Thai banks but maybe that was just coincidence - it was, perhaps, the third or fourth bank I approached and the only one who had competent English speakers on the front desk.

I've used a Citi multi- currency savings account for several years without hassle. And, incidentally, your foreign currency holdings in Thailand can be used as part or all of funds required for visa purposes.

While it's true that there aren't many Citi ATMs, and none outside Bangkok, they allow free use of any other bank's ATMs; so that can be  a distinct advantage.

They also recently advertised free international transfers Citi to Citi; I'm not sure of the details but will investigate further when next home. There is no charge on inward telegraphic transfers from any overseas bank so check with your US Citibank for outward TT fees.

I don't live in Bangkok and that can be an inconvenience, especially when converting foreign currency to baht but that is rare. I tend to hold sufficient baht to last a year or more but that practice might not be to everyone's liking.

Feel free to PM me if I can help further.

 

 

[Tony125]

I think you will find that if you open an account at Citi Bank at Asok with 100,000 baht they allow you to link your US and Thai accounts and you won't be charged for transfers from US to Bangkok or ATM fees. Only disadvantage is there are only branches and ATM's in Bangkok.  Check with Citi in US and or Bangkok for exact details.

[keithcresswell]

There appears to be a branch of Citi Bank on Sukhumvit road central Pattaya. No ATM though. 

[Srikcir]

There is a CitiBank branch in Central World just a short walk from Siam BTS in the overhead street corridor. One ATM available for cash. You will pay a 3% "foreign transaction fee." Personal account requires a minimum Bt1 million balance.

[Media1]

Free ATM fees on US card and good app for all countries. No fees and speak English call center

[Media1]

On 12/04/2018 at 9:15 AM, Langsuan Man said:

Depends upon which type of account you have.  "Benefits" in Thailand are strictly limited to the amount of money  you have tied up in your account.  Just remember that CitBank only has ATM's and  offices in Bangkok

 

I had a US account with them from when I was employed here but in my travels found that CitiBank was like McDonalds, a franchise and really not an International bank.  Fact driven home when I tried to use my CitiBank ATM card in Frankfurt and was charged both a currency exchange fee and the out of network fee for cash taken out of a CityBank branch ATM

 

All you really need here in Thailand is a couple of US Bank ATM cards that reimburse you for foreign ATM use.  Two off the top of my head are Schwab and Fidelity.  And you already have a Bangkok Bank account so you can use the Bangkok Bank's New York branch to do EFTS to your BB account here in Thailand 

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/

TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

 

false information here. Citibank is free feed international. l do not believe you 

. BKK BANK is now the worst bank no debt VISA available lol.

Forget this guy go with CITI NO FEES

Been with them 3 years 

[Media1]

17 hours ago, sloperating said:

I found opening an account at Citibank easier than at several other Thai banks but maybe that was just coincidence - it was, perhaps, the third or fourth bank I approached and the only one who had competent English speakers on the front desk.

I've used a Citi multi- currency savings account for several years without hassle. And, incidentally, your foreign currency holdings in Thailand can be used as part or all of funds required for visa purposes.

While it's true that there aren't many Citi ATMs, and none outside Bangkok, they allow free use of any other bank's ATMs; so that can be  a distinct advantage.

They also recently advertised free international transfers Citi to Citi; I'm not sure of the details but will investigate further when next home. There is no charge on inward telegraphic transfers from any overseas bank so check with your US Citibank for outward TT fees.

I don't live in Bangkok and that can be an inconvenience, especially when converting foreign currency to baht but that is rare. I tend to hold sufficient baht to last a year or more but that practice might not be to everyone's liking.

Feel free to PM me if I can help further.

 

 

much better service no ATM FEES

[Tony125]

4 minutes ago, Media1 said:

much better service no ATM FEES

As I said  he needs to contact Citi Bank in USA and here in Bangkok. Those that had a Citi Bank account from Singapore or England, ect did not have foreign transaction fees ( about 3% ) those (like me ) from USA did get charged but had no ATM fee.  Citi Bank at Central World near Siam BTS would not even open an account for me but the branch at Asok would with the deposit of 100,000 baht ( a little over $3,000 USD now)  You can then link your US accounts and transfer free.

[Media1]

4 minutes ago, Tony125 said:

As I said  he needs to contact Citi Bank in USA and here in Bangkok. Those that had a Citi Bank account from Singapore or England, ect did not have foreign transaction fees ( about 3% ) those (like me ) from USA did get charged but had no ATM fee.  Citi Bank at Central World near Siam BTS would not even open an account for me but the branch at Asok would with the deposit of 100,000 baht ( a little over $3,000 USD now)  You can then link your US accounts and transfer free.

You do not need 100000 baht. ln fact you can open with 5000 baht CITIPLUS account. no need to link. He won't be charged fees transfer from US to Thai CITI

Edited April 13, 2018 by Media1

[sky3]

When I inquired at Citi Centralworld branch last year to open a bank account I was told the minimum balance must be THB 1 million

[Pib]

10 hours ago, sky3 said:

When I inquired at Citi Centralworld branch last year to open a bank account I was told the minimum balance must be THB 1 million

The Citibank Thailand website for their "Current" account does say an opening deposit of Bt1M is required.  Can't say for their "Savings" account as their website does not say....the area of their website that would give that info for the Savings account does not response when clicking on it....guess you must call or visit to find out the info. Citibank Thailand website don't give a lot of info.

https://www.citibank.co.th/en/banking/deposit-checking.htm?lid=THENCBLBALNTLCurrentAccountBALN

 

Edited April 14, 2018 by Pib

[Langsuan Man]

On 4/12/2018 at 6:00 PM, keithcresswell said:

There appears to be a branch of Citi Bank on Sukhumvit road central Pattaya. No ATM though. 

I am pretty sure that is a consumer loan office , not a bank branch so they would not have an ATM,  Citi Bank only has ATM's in Bangkok