Advise on bank choice

[ThePioneer]

I have accounts with Kasikorn of which I'm quite satisfied service wise, but would like to add at least 1 more bank.

 

Today I closed my account with Krungsri because in my opinion they are the biggest retards among Thai banks.

 

In the many years i've been with them there have been loads of errors, which all could be corrected, but shouldn't have happened in the first place.

 

Today I threw in the towel because after 3 visits, and as many to the revenue office, they were still unable to add my tax ID to my account so withholding tax would not be deducted.

 

I have read on here that is possible though, and I don't feel to go every year to revenue office to claim a few thousand baht.

 

So what are my requirements.

 

- Should have a fixed account with decent interest which is not all lost when you make a withdrawal during the year. That was the only thing I used Krungsri for.

 

- Should have online banking and a mobile app that allows cardless withdrawals at an ATM machine. On a savings account obviously.

 

- Should have branches in malls that stay open late, but if they have late opening branches outside malls that is also fine.

 

- should be able to add personal tax id to account so not have to travel to revenue office each year

 

- should have a decent customer service line.

 

That's all folks, please advise which bank qualifies for all 5 requirements.

Edited September 30, 2019 by ThePioneer

[seajae]

I am with Bangkok Bank for general banking/international deposits and the Government Bank for the required yearly visa amount, both are good

 

[ThePioneer]

20 minutes ago, seajae said:

I am with Bangkok Bank for general banking/international deposits and the Government Bank for the required yearly visa amount, both are good

 

 

I was at Bangkok bank today but their app doesn't allow cardless withdrawals and they also could add my tax id so that withholding tax would not bed withdrawn.

[NCC1701A]

Bangkok bank

[EricTh]

I would suggest Bangkok Bank , they are more friendly towards foreigners. I had my tax id recorded with them without any problem. Bangkok Bank fits all your requirements except it doesn't have a Fixed Deposit account that you can withdraw anytime of the year without losing interest.

 

Don't open an account with SCB, they don't record tax id within their computer system. Some of the branches are quite unfriendly and will tell you to withdraw from the ATM instead of through the counters. I have never encountered this problem in Bangkok Bank.

 

BTW, I have an account with Krungsri too and they recorded my tax id without any problem. Maybe it's your language communication problem. Their staff is also quite friendly compared to SCB.

Edited September 30, 2019 by EricTh

[ThePioneer]

38 minutes ago, EricTh said:

I would suggest Bangkok Bank , they are more friendly towards foreigners. I had my tax id recorded with them without any problem. Bangkok Bank fits all your requirements except it doesn't have a Fixed Deposit account that you can withdraw anytime of the year without losing interest.

 

Bangkok bank can record my tax ID, but that mean I get a form at the end of the year and have to queue probably a few hours at the revenue office to get back a lousy few thousand baht.

 

Krungsri is supposed, according to posts on this forum, to record the tax id in a way that the withholding tax is not deducted.

 

It was not a language issue as they spoke good English, and first time it was merely my fault as I provided them not the correct ID. Second time they said it could not be done because the officer at the revenue office had given me the tax id in handwriting. So I went back again and this time got it in a printed document, spent another 1 hour at krungsri after which they again claimed it could not be added and I would onl;y be able to get the tax back by visiting the revenue office.

 

At Bangkok bank I can withdraw during the year and only partly lose interest on the part that is withdrawn, and I'm fine with that. That is what I should have made more clear in my OP, as I think that is normal.

 

But their mobile app does not allow cardless withdrawals from the savings account at an ATM.

 

SCB is actually out of the question as they make up their own rules like you need workpermit to open

account.

Edited September 30, 2019 by ThePioneer

[kingofthemountain]

34 minutes ago, EricTh said:

I would suggest Bangkok Bank , they are more friendly towards foreigners

Just avoid the Central Festival agency if you are in Pattaya

they are as arrogants and unpleasants as possible.

[55Jay]

It's Thailand.  I had joy first time I went to my Krungsi branch and asked for my account to be re-coded to not withhold tax every month. I went armed with information from here (TVF) that the correct code was 0001, and that was enough that she knew exactly what I (the wife) was on about. Said "yes", made a call in the meantime, and 10 minutes later, it was done.

 

Sorry you ran into trouble.   Bank branches are like franchises.  Same as Immigration.  ????

[daveAustin]

I'd also say BB, though haven't had dealings for couple years. Always mostly been helpful. Been with all of them, probably, over the years and found Siam in particular to be especially vacuous in regards to mortgage.

[timendres]

I have KBank and Bangkok Bank, and very happy with the pair. My small spending money flows through KBank, which has an ATM/debit card and a virtual Visa Webcard for online purchases. My savings sit in Bangkok Bank - with no ATM access and no online purchasing. Have both setup to allow transfer between the account via their online banking websites (or KBank's mobile app).

[ThePioneer]

7 hours ago, 55Jay said:

It's Thailand.  I had joy first time I went to my Krungsi branch and asked for my account to be re-coded to not withhold tax every month. I went armed with information from here (TVF) that the correct code was 0001, and that was enough that she knew exactly what I (the wife) was on about. Said "yes", made a call in the meantime, and 10 minutes later, it was done.

 

Sorry you ran into trouble.   Bank branches are like franchises.  Same as Immigration.  ????

Do you by any chance still have a link to that post with the information?

[55Jay]

3 hours ago, ThePioneer said:

Do you by any chance still have a link to that post with the information?

Yes.  TVF Member Pib provided the info, see link below.

 

https://forum.thaivisa.com/topic/1087601-krungsi-mee-tae-dai-savings/?do=findComment&comment=14212205

 

My Bangkok Bank branch started taking tax off my regular savings account as well.  Haven't gone out there to see them yet, need to, one of these days.

 

 

[Pib]

On 10/1/2019 at 12:00 AM, ThePioneer said:

 

Bangkok bank can record my tax ID, but that mean I get a form at the end of the year and have to queue probably a few hours at the revenue office to get back a lousy few thousand baht.

 

When Bangkok Bank records your tax ID they will stop withholding interest when the interest amount earned per year on a regular savings acct is not more than Bt20K.  But if earning more than Bt20K interest on a regular savings acct then tax is withheld.   

 

You are now treated just like a Thai who does not have tax withheld for aggregate interest at or below Bt20K but does have tax withheld with going above Bt20K.  Please note we are talking regular savings accts....fixed accts are taxed at 15% interest withholding regardless of amount of interest earned...whether below or above Bt20K interest earned.

 

So, if earning less than Bt20K interest per year there will be no tax withheld...no need to go to the revenue office to file for a refund because no tax was withheld.

Edited October 2, 2019 by Pib

[Beggar]

I had the same experience here at Krungsri in Pattaya in the Central Mall. I gave them my tax ID and they still deducted taxes. I asked them why. The answer was that I have never been there to give them my tax ID and that they are absolutely sure about this. To cut the story short - I got very angry and now it works.

[Lacessit]

Never had a problem with Bangkok Bank, although my requirements are limited compared to the OP.

[ThePioneer]

3 hours ago, Pib said:

You are now treated just like a Thai who does not have tax withheld for aggregate interest at or below Bt20K but does have tax withheld with going above Bt20K.  Please note we are talking regular savings accts....fixed accts are taxed at 15% interest withholding regardless of amount of interest earned...whether below or above Bt20K interest earned.

Thanks for passing by, I was waiting for you. ????

 

So yes that is my issue, the savings account will never hold significant funds for an extended period of time, so I don't worry about withholding tax there. For the savings account the important factorr for me is a that I can make cardless withdrawals with the app.

 

The fixed account will hold at least my 800K for my retirement extension, and probably a bit more.

 

However it probably will only be 2000 Baht tax at the end of the year, I consider it too much to give away to the government, but not enough to be bothered to make a 20 Km trip to the revenue office and queue there maybe a few hours to get that money back.

 

That is also why I was happy when I read your post a few months ago that Krungsri had a way around it. I wasn't so happy anymore when I had made 3 visits and spent several hours, and it still failed.

[Pib]

Too bad.  Sounds like your specific Krungsri branch just sucks.   I've only dealt with two Krungsri branches.  My home Krungsri branch where I opened the acct and made the tax ID update to stop the tax withholding.  And then another closer branch I use for my counter withdrawals/cash advances.  Knock on wood (my head)...so far both of these branches have given me good service...no complaints so far.