What Bank Should I Use?

[craig]

I will be applying for a retirement visa...a year's extention of my type O non immigrant visa and am looking to start a bank account. I live in Pattaya and am 59 years. My questions are:

1. What bank is recommended for a foreigner?

2. I will balance my income from pension money and a bank account to meet the minimum..Do I need to have my pension sent here.

3. I hope to be able to use ATM withdrawals from my US bank to meet the banking requirement. Is this possible?

Any information or hints would be GREATLY appreciated.

[lopburi3]

1. Bangkok Bank PLC and Siam Commercial Bangkok seem to be the most popular at this point in time. Both are large and not likely to fail.

2. Money should be transferred from your savings account by wire transfer several times a year to avoid excess fees. Current income should not be transferred as this could cause tax questions - money should have been earned in previous tax year to be safe.

3. At least one immigration office says no on atm receipt use but I also know people have used them in the past. But it was done as a favor to a long time expat so I would not count on it. Make wire transfers. Be sure to set up and sign a wire transfer agreement with your US bank if you don't already have one. That may be a problem if you are not there to do it so would advise contacting them for requirements.

You will find that having a local atm card and drawing from any atm of the 'pool' is not bad. This also provides the account change that immigration is looking for as the 800k is not expected to be a static deposit.

[chuckd]

Craig:

I have used Krung Thai Bank for several years and have always found them helpful and easy to deal with.

They are located on Central Road, between Beach Road and Second Road and parking is almost always available nearby.

[astral]

Use Krung Thai, very helpful.

Forget Bangkok Bank, too many long queues.

[lopburi3]

Forget Bangkok Bank, too many long queues.

But why would he ever be in the queue? Wire transfers and atm withdrawals. Passbook update at machine. I never get into any queue for my account. Or don't they have passbook machine yet down in Pattaya?