Bank account recommendation.

[Johnthplumb]

2 hours ago, Hi Tea said:

Not at BBL, you can't, even if you ask.  Credit card maybe but not a debit card, Union Pay or Mastercard debit cards only.

YES you can, I asked for one in Pattaya and they issued me with one, and that was Two years ago.

[Mike Teavee]

32 minutes ago, davidhen said:

Sorry everyone. I've just logged on to Thaivisa and seen all your replies. I obviously haven't got my settings configured properly to flag me via email when someone responds. I've posted on TA forum and I get email flags. I've now adjusted my Thaivisa settings, which hopefully will now trigger an email when my topic gets a reply.

So, I am a UK national, staying in Jomtien Soi 4. I've been in a guesthouse here since 19th March. I am in receipt of UK pensions but not enough to satisfy the THB 65,000 per month requirement. Nor do I wish to deposit THB 800,000 in a Thai a/c. For these reasons, I visited an agent who told me that if I open a bank a/c, he will charge me THB 14,000 to get me a one year (renewable) retirement visa. I do know another agent who will open an a/c for me for only THB 1,000 ---  It's just that the first one I mentioned instills me with more confidence. But --- if he opens an a/c for me, he wants THB 4,000.

I arrived in LoS on 16th January with a 90 day non-imm-O visa which of course expired in April, and I am now on visa amnesty until (currently) 26th September.

Thanks again,

David.

 

4,000 is not a bad price for an account opening as I've read that Maanerat (Soi 13/Post Office) charges 5,000 to help you with it & I paid 3,000 for Siam Legal to help me open one in Bangkok 4 years ago (Was 49, on a Visa Exempt at the time) & all-in 18,000 isn't a bad price for a 1 year extension.  

 

Lots of people will tell you that you can do it yourself & maybe you can (Though a residency certificate is required so am not sure how you would get around that staying in a guest house), but it is very hit & miss and involves trying a lot of different branches, the ones in Central Festival might be worth a try as these must be used to opening accounts for tourists, the Bangkok Branch on Soi Buakhao used to be a good option for guys on visa exempts even. 

 

 

 

 

 

[Pib]

3 minutes ago, Johnthplumb said:

YES you can, I asked for one in Pattaya and they issued me with one, and that was Two years ago.

That was when they still had the Visa card (but in the phase out phase of issuing any more) and before they started offering the Mastercard if a person simply didn't want to accept a UnionPay card.

 

Once their Mastercard became available a person couldn't get a Visa card anymore....it was now either Union Pay which the bank promotes or the Mastercard which the bank does not promote as heavily.   

 

Bangkok Bank only started offering Mastercard when so many people started complaining about Union Pay and the bank knew going back to also offering Visa would cause loss of face.  So, they started offering Mastercard and Union Pay.   Apparently bringing on Mastercard was an acceptable level of loss of face.

 

 

[Oldie]

13 minutes ago, Pib said:

That was when they still had the Visa card (but in the phase out phase of issuing any more) and before they started offering the Mastercard if a person simply didn't want to accept a UnionPay card.

 

Once their Mastercard became available a person couldn't get a Visa card anymore....it was now either Union Pay which the bank promotes or the Mastercard which the bank does not promote as heavily.   

 

Bangkok Bank only started offering Mastercard when so many people started complaining about Union Pay and the bank knew going back to also offering Visa would cause loss of face.  So, they started offering Mastercard and Union Pay.   Apparently bringing on Mastercard was an acceptable level of loss of face.

 

 

Can you use this card now abroad for car rentals, flight and hotel bookings? As soon as Covid will allow it I want to fly to the US and without a card I will be lost there... 

[daejung]

On 9/4/2020 at 10:25 AM, ubonjoe said:

I use Bangkok Bank and have not a problem with them. Also they do have a list of what they require.

See: https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/Savings-Account

Just a minimum of 500 baht to open an account.

I use Bangkok Bank too.

 

It was the ony bank who accepted me when I had no visa but only 30 days without visa. At that time I could not have access to their app (mBanking) and to my account on internet (iBanking), but only ATM and Phone Banhking. At that time, I was not retired.

 

Once I got a 3 months non-O visa, I had no restrictions and full access to mBanking and iBanking. I am now on a 1 year retirement extension and am very happy with Bangkok Bank. I have a Mastercard debit card

 

Transfers from France in EUR are very fast (often same day) and the rate that will apply is on their website (not much difference with fixing).

 

 

[daejung]

On 9/4/2020 at 11:33 AM, FlyingThai said:

Personally I'd stay away from Bangkok Bank when it's about a savings account due to their stupid Union Pay system for debit cards.

 

At Bangkok Bank, you can have a Mastercard, Union pay is not the only one choice

[daejung]

On 9/4/2020 at 11:50 AM, FlyingThai said:

Interesting. Good to know, I complained many times to them about UP and they never offered the MC option. In the end I just stopped using that account.

You can check here : https://www.bangkokbank.com/en/Personal/Cards/Be1st-Smart-Card

 

and there : https://www.bangkokbank.com/en/Personal/Cards/Be1st-Smart-Card/Be1st-Smart-TPN-Mastercard

[Pib]

26 minutes ago, Oldie said:

Can you use this card now abroad for car rentals, flight and hotel bookings? As soon as Covid will allow it I want to fly to the US and without a card I will be lost there... 

Can't say....haven't been out of Thailand for 12 years.  But one day when I do I will be using my US credit/debit cards instead of my Bangkok Bank debit card.

[daejung]

22 hours ago, Pib said:

Over the last year or so Bangkok Bank seems to be getting hard core in order to open a new acct (even if you already have an account(s) with them) that they want a letter from your home country embassy which basically confirms your farang passport is real/valid regardless of your nationality.  Of course getting that letter from your embassy is probably going to cost you x-amount (like $50 at the US Embassy) and might even be hard to get if your embassy is partially closed/limiting access due to COVID. 

 

The Bangkok Bank Silom head branch now has this requirement--they didn't use to.  Once you have this letter, no problem in opening an acct.   Years back, they didn't require the letter....now they do.  And of course with "This Is Thailand" the policy may vary among Bangkok Bank branches.

At french embassy I paid 965 bahts in januray 2018 for that passport confirmation letter.

My bank account is as Bangkok Bank head office in Bangkok / Silom

[Pib]

1 minute ago, aixois said:

At french embassy I paid 965 bahts in januray 2018 for that passport confirmation letter.

My bank account is as Bangkok Bank head office in Bangkok / Silom

Yeap....that's my branch also...and that branch wants the embassy letter.  At the US Embassy the cost is probably $50 (approx Bt1600) as that is the cost for any document they notarize/bless.

[daejung]

8 hours ago, ravip said:

Does the Bangkok Bank deduct a tax on the savings account?

On any balance or over a certain amount?

Monthly/Annually?

 

On my saving accounts they deduct a withholding tax (on interests).

Interests are credited twice a year in june and december. Withholding tax is debited (of course) on the same day.

I do not have much interests since I do not need to keep 400 or 800 kbahts on my account, so I would say it is for any amount.

[daejung]

5 hours ago, Oldie said:

Now I understand - thank you! Good to know. Some years ago I booked a flight to the Philippines with this online Credit Card from the Kasikorn Bank - no problem. Next I tried to book a flight Manila to Borracay at a local airline there but it didn't work. I used a US credit card of my brother then and no problems. 

I didn't experience that since I use my Bangkok Bank Mastercard only when I make payments in THB. Otherwise I use my HSBC french Visa card.

At Bangkok Bank, they told me I could use ATM in France if need be, which I do not need. Unless I have too much money in Thailand and cannot go back there, which is not the case.

Did you experience using ATM ouside of Thailand too ?

[NZAMBOY]

A "heads up" if you are US citizen and are considering Bangkok Bank...the US govt will have access to your acct as Bkk Bank has an office in NYC...

[DJ54]

US citizen Bangkok was fairly easy. Four years ago opened Bangkok Bank 

acct in my name and wife added. Early this year I opened on with my name only per Immigration. 30 minutes. 

 

I also have Krungsri account which took two trips to bank and the bank a trip to my house another for paper that I didn’t get initially. I checked the bank website for what was need to open an account and followed up with email to see if anything else was needed.,.. got email back no.

 

When I went up at Krungsri bank they asked for another document and 

explained that checked and this is what they said via emails and showed 

them. Then they called the headquarters and I talked to them. Was told

thst some branches manager requires additional info. After three days it

was set-up.

 

I transfer money monthly from Chase (no fees) in US To Bangkok Bank an I’ve not looked closely to their charges but they must be minimal because

I've not flipped a lid over it.

 

The nice thing and maybe get lucky, initiateTransfer money from Chase 

Mon thru Thursday before 13:00 US time the transfer arrives next morning 

(Thailand) into the account. If on a Friday US it takes 3 days..

 

 

[Oldie]

11 hours ago, aixois said:

I didn't experience that since I use my Bangkok Bank Mastercard only when I make payments in THB. Otherwise I use my HSBC french Visa card.

At Bangkok Bank, they told me I could use ATM in France if need be, which I do not need. Unless I have too much money in Thailand and cannot go back there, which is not the case.

Did you experience using ATM ouside of Thailand too ?

I never used one outside Thailand so far. In countries where I travel often like Europe or the Philippines I have bank accounts. But in the US they closed all my accounts because of the Patriot Act. And for the US I need a working card. The last US Card I had was from PayPal - this account did not get closed until today. But I couldn't get a new card anymore when the one that I had expired since I don't have an address in the US anymore. 

[Yellowtail]

6 hours ago, NZAMBOY said:

A "heads up" if you are US citizen and are considering Bangkok Bank...the US govt will have access to your acct as Bkk Bank has an office in NYC...

If you are a US citizen (or likely anyone else) they have access to all your accounts anyway. 

[Sophon]

14 hours ago, davidhen said:

Sorry everyone. I've just logged on to Thaivisa and seen all your replies. I obviously haven't got my settings configured properly to flag me via email when someone responds. I've posted on TA forum and I get email flags. I've now adjusted my Thaivisa settings, which hopefully will now trigger an email when my topic gets a reply.

So, I am a UK national, staying in Jomtien Soi 4. I've been in a guesthouse here since 19th March. I am in receipt of UK pensions but not enough to satisfy the THB 65,000 per month requirement. Nor do I wish to deposit THB 800,000 in a Thai a/c. For these reasons, I visited an agent who told me that if I open a bank a/c, he will charge me THB 14,000 to get me a one year (renewable) retirement visa. I do know another agent who will open an a/c for me for only THB 1,000 ---  It's just that the first one I mentioned instills me with more confidence. But --- if he opens an a/c for me, he wants THB 4,000.

I arrived in LoS on 16th January with a 90 day non-imm-O visa which of course expired in April, and I am now on visa amnesty until (currently) 26th September.

Thanks again,

David.

Are you aware that you can use a combination of income and deposit to reach the goal of THB 800k? So if you e.g. have a pension of 50k per month (600k per year), you will only need to deposit THB 200k in a Thai bank.

[Oldie]

2 hours ago, DJ54 said:

 

I transfer money monthly from Chase (no fees) in US To Bangkok Bank an I’ve not looked closely to their charges but they must be minimal because

I've not flipped a lid over it.

 

The nice thing and maybe get lucky, initiateTransfer money from Chase 

Mon thru Thursday before 13:00 US time the transfer arrives next morning 

(Thailand) into the account. If on a Friday US it takes 3 days..

 

I guess the Bangkok Bank is the correspondent bank of Chase then. My bank in Europe uses the Bangkok Bank too as correspondent bank. The money is there the next day and in my case I don't pay any fees. 

[Yellowtail]

15 minutes ago, Oldie said:

I guess the Bangkok Bank is the correspondent bank of Chase then. My bank in Europe uses the Bangkok Bank too as correspondent bank. The money is there the next day and in my case I don't pay any fees. 

 

I don't think so. It is the same for most all US banks. The US bank transfers the funds to Bangkok Bank's New York branch, and then Bangkok Bank transfers it to your Thai account.

 

I think people getting their Social Security direct deposited used to have to have an account at the US branch and an account in Thailand but I am not sure of this. I think you can get direct deposit to most any Thai account now, but again I am not sure.

 

 

[unheard]

17 hours ago, Hi Tea said:

The first Kbank branch that I went into were happy to open an account so the chances are also pretty high that there'd be no problems!.

How recently, what document requirements?

[ubonjoe]

14 minutes ago, Yellowtail said:

I don't think so. It is the same for most all US banks. The US bank transfers the funds to Bangkok Bank's New York branch, and then Bangkok Bank transfers it to your Thai account.

No they don't do that unless you use the New York branch's ACH or SWIFT code for it. If ACH it has to be in the special IAH format.

 

14 minutes ago, Yellowtail said:

I think people getting their Social Security direct deposited used to have to have an account at the US branch and an account in Thailand but I am not sure of this. I think you can get direct deposit to most any Thai account now, but again I am not sure.

 

You can still set a up direct deposit account at Bangkok Bank here and have your SSA payments deposited to your account via the NY branch. You cannot open an account at the NY branch. Been doing that way for over 8 years now.

The transfers to a Thai bank are sent by International Direct Deposit (IDD) that started last year and they are sent as Thai baht. 

[Oldie]

33 minutes ago, Yellowtail said:

 

I don't think so. It is the same for most all US banks. The US bank transfers the funds to Bangkok Bank's New York branch, and then Bangkok Bank transfers it to your Thai account.

 

I think people getting their Social Security direct deposited used to have to have an account at the US branch and an account in Thailand but I am not sure of this. I think you can get direct deposit to most any Thai account now, but again I am not sure.

 

This is correct. They can use the Bangkok Bank NY for the transfer - they need to use a routing number then. 

[ubonjoe]

12 minutes ago, Oldie said:

This is correct. They can use the Bangkok Bank NY for the transfer - they need to use a routing number then. 

But now they would be returned by the branch in NY if they were not a in the IAH format and the majority of US banks don't use it.

[Hi Tea]

3 hours ago, unheard said:

How recently, what document requirements?

A few months ago, passport with retirement extension. I had a copy of my lease with me but don't know if that was necessary.  The branch near to the Grand Superrich office, Rajdamri Sois 1-2

[Hi Tea]

18 hours ago, Johnthplumb said:

YES you can, I asked for one in Pattaya and they issued me with one, and that was Two years ago.

You can ask but you won't get one as BBL does not issue Visa debit cards.  We're talking about now, not years ago. 

[daejung]

9 hours ago, Oldie said:

I guess the Bangkok Bank is the correspondent bank of Chase then. My bank in Europe uses the Bangkok Bank too as correspondent bank. The money is there the next day and in my case I don't pay any fees. 

Depends if you make transfers in bahts or in your own currency.

If in your currency the correspondent bank should be in your country, if in baht, in Thailand.

in march 2018 I went to Bangkok Bank HO in Silom and I took a picture of their correspondent booklet.

 

As for me, my bank is HSBC France. In euros, only BNP Paribas and Société générale were correspondents of Bangkok Bank.

 

In bahts, only BNP Paribas, Société générale and Natexis have Bangkok Bank as correspondent. Strange since HSBC has an office in Bangkok (but not retail banking anymore) 

 

I prefer to make transfers in EURO (better rate) and HSBC France has to use a correspondent of Bangkok Bank in the euro zone, which is generally a german bank (also in EURO zone). Correspondent fees are 15 €

 

 

Edited September 6, 2020 by aixois

[Oldie]

34 minutes ago, aixois said:

Depends if you make transfers in bahts or in your own currency.

If in your currency the correspondent bank should be in your country, if in baht, in Thailand.

in march 2018 I went to Bangkok Bank HO in Silom and I took a picture of their correspondent booklet.

 

As for me, my bank is HSBC France. In euros, only BNP Paribas and Société générale were correspondents of Bangkok Bank.

 

In bahts, only BNP Paribas, Société générale and Natexis have Bangkok Bank as correspondent. Strange since HSBC has an office in Bangkok (but not retail banking anymore) 

 

I prefer to make transfers in EURO (better rate) and HSBC France has to use a correspondent of Bangkok Bank in the euro zone, which is generally a german bank (also in EURO zone). Correspondent fees are 15 €

 

 

I always transfer from Euro and USD accounts that I have at my European bank to foreign currency accounts - also Euro and USD - that I have at the Bangkok Bank. Then I can decide when I want to change and how much I want to change to Thai Baht. I never transferred foreign currency to Thai Baht accounts. The important thing to know is that the Thai deposit insurance sadly will not pay anything for accounts that are in foreign currency. If you need these accounts for the immigration then there is no problem. When you get the bank letter the bank will calculate the Baht amount. But I have my 800.000 on a Baht account. 

 

Anyway - at this transaction the Bangkok Bank is the correspondent bank what means the money is here the next day and on both sides I don't get charged anything. This with not charged anything could also be because I pay a lot of fees to the European bank for other things. I don't know. 

 

I also have a Euro and USD account at the Krungsri Bank. This bank is not a correspondent bank of my bank. The transfers goes to a bank in New York and then to the Bangkok Bank and then to the Krungsri bank in Bangkok and then to the Krungsri bank branch in Pattaya. And of course every single transaction causes fees. A costly mistake but I learned my lesson... 

 

Edited September 6, 2020 by Oldie

[Yellowtail]

I used to use TransferWise, which is good for small transfers, but for large transfers just transferring in dollars from my  Chase account to my K-bank account I seem to get a good rate, although it was a pain to get set up for the first transfer and I have to pay a flat transfer fee.

[daejung]

13 minutes ago, Oldie said:

I always transfer from Euro and USD accounts that I have at my European bank to foreign currency accounts - also Euro and USD - that I have at the Bangkok Bank. Then I can decide when I want to change and how much I want to change to Thai Baht.

 

 

Since my savings account at Bangkok Bank is in bahts, my transfers in euros are automatically converted to bahts.

 

I don't have any account in foreign currency at Bangkok Bank.

 

And I don't need to make any 800 000 bahts deposit either.

 

Quote

Anyway - at this transaction the Bangkok Bank is the correspondent bank what means the money is here the next day and on both sides I don't get charged anything. This with not charged anything could also be because I pay a lot of fees to the European bank for other things. I don't know. 

If you make transfers in euros, Bangkok Bank is never the correspondent bank. Only a bank in the euro zone can be.

Bangkok Bank can be the correspondent only for transfers in thai bahts.

 

Edited September 6, 2020 by aixois

[DrJack54]

This thread belongs in banking forum. Apart from first page advising on how to open account it's gone to chat about transfer companies and financial nonsense.