Which Bank do you recommend for a SME?

[geNe36]

Hi guys,

 

Got a question but will keep it as simple as possible:

 

Company has already been set up.

Distributor In Thailand

Would be opening a THB & USD Account with a bank here in Thailand.

Invoices will be sent from Singapore but Product will be sending from Europe.

What are the conditions that I must look out for? Taxes? Interests? Transfer fees? Admin fees?

Which is the recommended bank that you guys know of? (I'm thinking between SCB and KBank)

 

Trying to find out more information. Thank you for your time.

 

 

[ctxa]

SCB is good but I would seriosuly consider bigger banks that have offices in Europe. That way everything will be easier in the long term. How about? 

 

- ICBC 

- City Bank 

- HSBC

[geNe36]

Thank you for your recommendation. 

 

But I'm dealing payments mainly with Singapore, not Europe side...

 

SCB has a branch in Singapore but when checked, it's mainly does international businesses which mine probably is too small... haha..

 

I mainly want customer to transfer USD to my USD account in our bank in Thailand so that I can transfer out to Singapore in USD as well as we are mainly dealing with USD.

 

As for the THB account, it's mainly for payrolls and other bills stuffs. which are handled locally.

 

So I'm deciding on either SCB or KBank... but im not sure how good are they in comparisons on fees like transfer fees, admin fees, any other fees, interests etc.

[timendres]

Bangkok Bank has a non-retail branch in New York that may provide you some advantages, but you will need to check with them. I have had US clients wire money into BB NY, but always landing immediately into my account as THB. Not sure how that would work with a USD account.