Krungsri bank, some questions after opening an account

[khman]

Hi,

I just opened an account at Krungsri bank...

I have many questions, if you can help me answer to some... I prefer to ask here than in the bank... as they don't understand everything and they are not so accurate. Sometime they don't bother, they say it's not possible...

 

1 - what if I do not touch my account for years? Do they close it? Do they take fee? Any minimum balance?

2 - they opened for me a savings account. what are the main difference vs a checking account?

3 - I did not choose my ATM card yet (I wait more infos from here...!). Any recommendation? I would like to be able to use it internationally. Ideally I would be able to pay online, but seems it's a big deal then I can manage it with Revolut... ????

4 - So you know if there is monthly fees? Withdraw fees?

5 - if i get international incoming wire transfer (ie from Revolut) in THB, do I have any fees? I guess if euros or usd come, they apply there lame conversion fee, is it the same than their exchange booths?

6 - is it possible, and worth, to open another account to get interest rate? Do you have more infos such as name of that account, and yearly %?

7 - is it possible to open an account in euros and usd, then when I send euros/usd, they are kept in this currency? if i want to withdraw, I guess I must exchange vs THB or wire transfer them? But seems outgoing international transfers is a hassle in Thailand, need invoice and so on?

8 - do you know if their call center or email is efficient in english? maybe more efficient than asking in the local branch?

9 - what is this SMS option at 19thb/month? is it in order to be notified of each move on my account?

10 - I guess usually no fee using the ATM card in thailand, paying or withdrawing? What about using it abroad? At least the bad exchange rate? Any other fee?

11 - any other interesting infos you may tell me?

 

 

Thanks much for your help. No hurry. I asked many but even a few answers would be helpful.

[KittenKong]

You will find the answers to nearly all your questions, in English, on their website. Their site is unusually clear by Thai standards.

[Oxx]

https://www.krungsri.com/bank/en/PersonalBanking.html

[shadowmaster1971]

9 hours ago, KittenKong said:

You will find the answers to nearly all your questions, in English, on their website. Their site is unusually clear by Thai standards.

Very true since Krungsri is owned by MUFG lots of changes and marked improvements on internet banking phone apps etc.

[Oxx]

1 hour ago, shadowmaster1971 said:

Krungsri is owned by MUFG

 

Not true.  Krungsri is a publicly traded company listed on the Stock Exchange of Thailand (symbol SET: BAY).  MUFG is simply the largest shareholder.

[Nyezhov]

7 minutes ago, Oxx said:

 

Not true.  Krungsri is a publicly traded company listed on the Stock Exchange of Thailand (symbol SET: BAY).  MUFG is simply the largest shareholder.

My bankbook says "member of the MUFG Group"

[flbkk]

If like to know these answers too. I opened. Suk 31 as many Farangs have. They opened the account but otherwise not too helpful. I found better help at the 550 Ploenchit and the Government Center Choengwattana branches. It looks like KS has a fixed deposit with a decent rate, also ICBC, the Chinese bank. 

[shadowmaster1971]

21 hours ago, Oxx said:

 

Not true.  Krungsri is a publicly traded company listed on the Stock Exchange of Thailand (symbol SET: BAY).  MUFG is simply the largest shareholder.

true it is a publicly traded company on the SET with a major shareholder owning 76% and the Annual reports stating the parent company is The Bank if Tokyo Mitsubishi UFJ Ltd - i think it is safe to say "control" and "ownership" of krungsri is MUFG.

 

[shadowmaster1971]

21 hours ago, Oxx said:

 

Not true.  Krungsri is a publicly traded company listed on the Stock Exchange of Thailand (symbol SET: BAY).  MUFG is simply the largest shareholder.

https://asianbankingandfinance.net/retail-banking/exclusive/ceo-noriaki-goto-‘new-krungsri’-following-bank’s-integration-mufg

 

this will explain how BTMU/MUFG now "own" & "control" Krungsri which is now a subsidiary of BTMU/MUFG,  i think now about less than 5% of the ordinary shares of Krungsri are traded on SET !

[shadowmaster1971]

As to the OP questions I'll answer what I know having banked with Krungsri.

 

1. Dont know.

 

2. You get a check/cheque book to writes checks/cheques.

 

3. Many options with debit cards visa & MC.  some have fees each time you withdraw other pay annual fees.  Different cards have different privileges, rebates, discounts etc.  Cards are usually issued from your branch.  though you can order an visa debit atm with  your name on it.   Ive used my Arm in SG, macau, HK, Oz, USA, Malaysia, Laos.  of course you will get charged using overseas ATMS, exchange rates not the best using overseas ATMs.    If you are talking about your Arm visa debit for online purchasers I am not aware of people having issues to do so.  If you have set up your online bank with youse savings accounts Krunsrgi i think they have a a virtual debit card for online use.

 

4.  https://www.krungsri.com/bank/en/Other/Interestratesfees/Fees/Service-Fees.html

 

5.  YEs you can wire money to your account there is a service fee, exchange rates not the best 

 

6. https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts.html

 

FYI they also have banking for high net worth individual.  Also check out https://www.krungsri.com/bank/en/Exclusive/Promotion/mgm.html  for higher level banking services.

 

7.  YEs you can its called FCD account https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/ForeignCurrencyDeposit.html

 

But i think can only use the ATM cards in Thailand for your FCD account.  Certainly can wire deposits from overseas accounts to your FCD.    As for foreign transfers I hear what you are saying about the  overseas transfers out of thailand.  Krungsri not too bad I suppose it comes down to your branch knowing you.  With the Krungsri online banking you can do overseas transfers.  It is tedious with paper work initially but once done no problems.  But fees and FX rates with Krungsri not the best.     I have been using transferwise to shift money in and out of Thailand (transfer wise mentioned a lot on TV).

 

Also if you open a FCD account with krungsri and TT/wire transfer money from overseas into your FCD - this FCD account satisfy the money documentation bank certificate/FET for buying property as a foreigner in thailand.

 

8.   Email for me in english no problems .  call centre with english speakers very good for the times I had to call.

 

9.  Yes correct good to have.

 

10.   See 3 above - No fee depending on card type for use within Thailand.  Overseas will have ATM charges etc etc not really that different to any bank really.

 

11.  Credits cards  - big topics about it on TV but for Krungsri you can get  secure credit card ie. say make a 100,000 baht deposit and get a Visa/MC credit to 90% of deposit value.  Krungsri seem to have fairly decent monthly promotions  on their Visa/MC Debit & Credit cards ie rebates, products, golf discounts, flights/travel/hotel discounts etc, cash backs on point accumulations, auto fuel discount/rebates at select outlets etc.   

 

one last thing is about OTP (one time passwords)   Often to do online transactions and online bank etc you get a OTP to enter to complete the transaction - where possible when setting up OTP if you have an option to send OTP to an email do it rather than to a phone number.  Reason being OTP to an email you can always access email on a smartphone no matter where you are in the world otherwise your are swapping out you sim cards (when overseas) to get your otp.   

 

Krungris bank app for phone fairly good no issues as for myself, paying bills, tops ups transferring money etc etc.

 

 

Edited November 16, 2018 by shadowmaster1971

[Just Weird]

On ‎11‎/‎15‎/‎2018 at 5:37 AM, khman said:

I just opened an account at Krungsri bank...

I have many questions, if you can help me answer to some... I prefer to ask here than in the bank... as they don't understand everything and they are not so accurate. Sometime they don't bother, they say it's not possible...

 

1 - what if I do not touch my account for years? Do they close it? Do they take fee? Any minimum balance?

2 - they opened for me a savings account. what are the main difference vs a checking account?

3 - I did not choose my ATM card yet (I wait more infos from here...!). Any recommendation? I would like to be able to use it internationally. Ideally I would be able to pay online, but seems it's a big deal then I can manage it with Revolut... ????

4 - So you know if there is monthly fees? Withdraw fees?

5 - if i get international incoming wire transfer (ie from Revolut) in THB, do I have any fees? I guess if euros or usd come, they apply there lame conversion fee, is it the same than their exchange booths?

6 - is it possible, and worth, to open another account to get interest rate? Do you have more infos such as name of that account, and yearly %?

7 - is it possible to open an account in euros and usd, then when I send euros/usd, they are kept in this currency? if i want to withdraw, I guess I must exchange vs THB or wire transfer them? But seems outgoing international transfers is a hassle in Thailand, need invoice and so on?

8 - do you know if their call center or email is efficient in english? maybe more efficient than asking in the local branch?

9 - what is this SMS option at 19thb/month? is it in order to be notified of each move on my account?

10 - I guess usually no fee using the ATM card in thailand, paying or withdrawing? What about using it abroad? At least the bad exchange rate? Any other fee?

11 - any other interesting infos you may tell me?

Why don't you just phone the call centre?  You will find out there how good their English is, just as I did.  It's fine, by the way, and it took all of  20 seconds.  There's the answer to question number 8 and possibly all the others.  I can guarantee that no one here will have the answers because this is Thaivisa. 

Edited November 16, 2018 by Just Weird

[buick]

check the terms on any FCD account carefully.  i opened FCD accts at krungthai and bangkok bank  and read the terms after i opened them (but no money was put in yet).  i can't remember the exact terms but krungthai was far worse than bangkok bank.  as i recall they were going to charge me 1% on the incoming USD and i also had to pay 1% if i took out USD or tranferred it to my thai baht account at krungthai.  bangkok bank was 500thb on the incoming USD (flat fee) and no fee to transfer to my thb account at bangkok bank.  so i ended up closing both accounts i had at krungthai (USD and THB).

Edited November 16, 2018 by buick

[shadowmaster1971]

1 hour ago, buick said:

check the terms on any FCD account carefully.  i opened FCD accts at krungthai and bangkok bank  and read the terms after i opened them (but no money was put in yet).  i can't remember the exact terms but krungthai was far worse than bangkok bank.  as i recall they were going to charge me 1% on the incoming USD and i also had to pay 1% if i took out USD or tranferred it to my thai baht account at krungthai.  bangkok bank was 500thb on the incoming USD (flat fee) and no fee to transfer to my thb account at bangkok bank.  so i ended up closing both accounts i had at krungthai (USD and THB).

Good points - Krungsri FCD is not that dissimilar to the above.

[Baerboxer]

On 11/15/2018 at 4:57 PM, Oxx said:

 

Not true.  Krungsri is a publicly traded company listed on the Stock Exchange of Thailand (symbol SET: BAY).  MUFG is simply the largest shareholder.

 

Would that be the largest shareholder of a public traded limited company owned by .................... the sharholders?

 

Last time I checked MUFG owned 77% of the shares. 

[Baerboxer]

23 hours ago, buick said:

check the terms on any FCD account carefully.  i opened FCD accts at krungthai and bangkok bank  and read the terms after i opened them (but no money was put in yet).  i can't remember the exact terms but krungthai was far worse than bangkok bank.  as i recall they were going to charge me 1% on the incoming USD and i also had to pay 1% if i took out USD or tranferred it to my thai baht account at krungthai.  bangkok bank was 500thb on the incoming USD (flat fee) and no fee to transfer to my thb account at bangkok bank.  so i ended up closing both accounts i had at krungthai (USD and THB).

 

I have FCD accounts in USD and GBP with Krungsri. I transfer money in from outside Thailand, and then transfer to my ThB account on-line whe ER good. Never been charged any of the fees you say. Their ER is usually very good too, better than changing with my banks outside and transferring in baht.

 

I have Krungsri Exclusive so not sure if that makes any difference.

[Moonlover]

If you have a smartphone or tablet, their Mobile app is very good. I use it all the time now for transactions.