Bangkok bank closures

[essex boys]

I went into lotus’s in Khon Kaen on Sunday 3rd July to get some money from the Bangkok bank ATM only to find the bank was boarded up and the ATM was gone as well as the bank book update machine…god knows why they closed it it seemed a busy branch to me…anyway just to warn you it is closed.

[KhunBENQ]

Obviously a major shrinking is on the way with some Thai banks (maybe more to follow).

Kasikorn has already reduced branches and ATM locations here and elsewhere.

 

[dj230]

Weren’t Thai banks getting on the crypto hype? Maybe the contagion is hitting Thai banks 

[JustThisOnePostOnly]

When I landed at Swampy a couple of months back I was shocked to learn that the THREE Bangkok Bank ATMs out front were out-of-service.

 

Had to use a U.S. card for hey-I'm-in-a-foreign-country cash, taking the account under minimum balance and not just costing me a lot of money but hassle too with the bank.

 

Saw a few out-of-service BBK ATMs here in Pattaya too.  Not a good look.

[kiteman9]

The bank teller told my wife that the reason is that most Thais do their banking on their phone now.

[xxeo]

Well, to see that Bangkok Bank has a branch at North Pattaya road. Another few hundred meters away in Tesco Mall. Another probably close by in Terminal 21. Plus several ATMs ... A shrinking process makes sense, seems overdue, the more as Thais may discover online banking.

[Tuvoc]

It is happening in the UK too, and most likely many other countries.

[phetphet]

When the pandemic kicked in, everyone was told to avoid handling dirty cash and use e banking instead.

Previously, the banks had charged a small fee for this service, but then dropped the charge.

 

Over the next two years people found how easy it was and got used to using it. Even the small food stalls often have a QR code pinned up for payment.

 

The banks then found  they could cut costs by closing branches: No rent or staff salaries to pay. Less ATMs to buy or maintain. All equals more profit.

 

The cynic in me still thinks that once the public are fully hooked on e banking, the banks will reintroduce a charge for transactions.

[rak sa_ngop]

6 minutes ago, Tuvoc said:

It is happening in the UK too, and most likely many other countries.

The main annoyance now that so many branches have closed is that people who need to go to a bank usually have complicated transactions to be dealt with.....so the queues are long and the waits even longer. Grrrrrrrr

[Lacessit]

12 minutes ago, rak sa_ngop said:

The main annoyance now that so many branches have closed is that people who need to go to a bank usually have complicated transactions to be dealt with.....so the queues are long and the waits even longer. Grrrrrrrr

Banks don't exist to serve their customers, they are there to pay dividends to their shareholders.

[tomazbodner]

Happening everywhere. ATMs are disappearing, branches are closing, banking is moving to mobile phones and internet banking sites.

 

But if that National Digital ID, apparently required for banking spreads to mobile transactions, non-Thais would have very limited banking options left.

[cauldlad]

The Bangkok Bank branch in Big C Extra Pattaya, has just closed two weeks ago.

[new2here]

Pretty much all the major banks have been reassessing their real estate portfolio and footprints

 

https://www.nationthailand.com/business/40014873

 

I suspect that post-C19 and with the advancement of various “e-“ forms of payments, deposits and such, this will only continue.

 

While my BBL accounts are all at their 333 Silom office, I do know the branch managers of a few other offices in the general area and have heard that the head office is always looking at branches long-term viability.. not just accounts opened or assets under control, but net foot traffic, type of traffic, quantity and type of transactions being conducted in-branch etc. 

[Bangkok Barry]

12 hours ago, JustThisOnePostOnly said:

When I landed at Swampy a couple of months back I was shocked to learn that the THREE Bangkok Bank ATMs out front were out-of-service.

 

Had to use a U.S. card for hey-I'm-in-a-foreign-country cash

If you have a Bangkok Bank ATM card you can use it in most Thai bank machines. I assume there were other bank ATMs somewhere in the airport, so the problems you had were unnecessary.

[Bangkok Barry]

2 hours ago, kiteman9 said:

The bank teller told my wife that the reason is that most Thais do their banking on their phone now.

Did your wife ask what we do when the app is down, as happened at the end of last month with all three main banks?

[Bangkok Barry]

44 minutes ago, tomazbodner said:

But if that National Digital ID, apparently required for banking spreads to mobile transactions, non-Thais would have very limited banking options left.

Already, I was unable to use a Bangkok Bank card in a KrungThai ATM (the Bangkok Bank machine, subject of this thread, had been removed). Fortunately, a Kasikorn ATM nearby wasn't so fussy.

Imagine you're a tourist and when you arrive you discover that to use an ATM you need a Thai ID card. Of course, that would never occur to Thais as they never think of the consequences of what they do. So, eventually, expect a typically Thai U-turn.

[KhunBENQ]

As above

"Cashless" society, internet banking takes away a lot of traditional branch business.

 

Compare:

Deutsche Bank has no more cash at most of their branches. I was somewhat puzzled to read this.

[Tropposurfer]

Great! Get rid of more ATM machines ... makes way for more motocy parking space lol ???? 

[JustThisOnePostOnly]

1 hour ago, Bangkok Barry said:

I assume there were other bank ATMs somewhere in the airport, so the problems you had were unnecessary.

This of course assumes that I have no experience with using Bangkok Bank cards in other bank ATMs, and that that experience didn't leave me without a card.

 

How fun would it be to lose my only Thailand card at the tail end of 40 hours of travel and with only 120 baht in my pocket?

[scorecard]

3 hours ago, rak sa_ngop said:

The main annoyance now that so many branches have closed is that people who need to go to a bank usually have complicated transactions to be dealt with.....so the queues are long and the waits even longer. Grrrrrrrr

All these changes have been happening in Australia for many years; very big reductions in total numbers of ATM machines, big numbers of branches closed all banks.

 

I'm aware of one bank which has reduced branches to one per state (and not all states). Customers have an ATM/Debit card, can get cash* from any ATM, bank instantly reimbursed other bank ATM costs. (*Cash rarely used now in Australia, 99% of all transactions is by quick touch debit cards.)

 

Customer cannot deposit cash at the actual bank because there's no branches (except 1 in most capital cities). Customer can depsoit cash at any other bank for instant transfer to their own bank which instantly reimburses any other bank deposit charges.

 

Old/new customers can do anything by online or telephone banking.

 

This bank is attractive for another reason; no 'press 6 for credit cards' etc. A bank officer (could be anywhere in one of their capital city offices (they have no other offices) answers every incoming call. Cannot transfer the call, same officer has comprehensive training and capabilities and must  complete whatever the customer wants by phone. Bank officer (on the phone) can easily/quickly talk the customer through uploading documents etc, showing bank products and more, especially if the customer downloads the bank app., all quick and easy. Excellent security including repeat security checks during phone calls etc., by voice recognition and more. 

[CharlieH]

It would be nice if due to closures they enhanced the ones that remain, my one branch of BBL has an average waiting time of an HOUR for anything you need at the counter, the 3 girls there take an average of 15 minutes per customer, they even have confy chairs to sit at the desk ! Everything seems so paperwork heavy.

 

I dare say in 10 years we will be almost cashless! certainly like that now in the UK by all accounts with many places refusing cash.

[chilly07]

But what do we disenfranchised expats do when our embassies renege on income letters and we have to drag ourselves into our BB branch to obtain credit advices and annual statements for Immigration???

OK BB open branches in all Immigration Offices!

Or even better Embassies/Immigration do a deal on income letters!

[chilly07]

25 minutes ago, scorecard said:

All these changes have been happening in Australia for many years; very big reductions in total numbers of ATM machines, big numbers of branches closed all banks.

 

I'm aware of one bank which has reduced branches to one per state (and not all states). Customers have an ATM/Debit card, can get cash* from any ATM, bank instantly reimbursed other bank ATM costs. (*Cash rarely used now in Australia, 99% of all transactions is by quick touch debit cards.)

 

Customer cannot deposit cash at the actual bank because there's no branches (except 1 in most capital cities). Customer can depsoit cash at any other bank for instant transfer to their own bank which instantly reimburses any other bank deposit charges.

 

Old/new customers can do anything by online or telephone banking.

 

This bank is attractive for another reason; no 'press 6 for credit cards' etc. A bank officer (could be anywhere in one of their capital city offices (they have no other offices) answers every incoming call. Cannot transfer the call, same officer has comprehensive training and capabilities and must  complete whatever the customer wants by phone. Bank officer (on the phone) can easily/quickly talk the customer through uploading documents etc, showing bank products and more, especially if the customer downloads the bank app., all quick and easy. Excellent security including repeat security checks during phone calls etc., by voice recognition and more. 

Sorry but customers cannot do everything on a banking app-see my previous response

[roger buttmore]

49 minutes ago, JustThisOnePostOnly said:

How fun would it be to lose my only Thailand card at the tail end of 40 hours of travel and with only 120 baht in my pocket?

Arriving in any country with less than 4 bucks of local currency in your pocket seems a bit thoughtless and adds unnecessary hassle on arrival, especially after a long trip.

 

It's always worth taking some Baht back home with you at the end of a trip. At least enough for a sim card (if you need one) and to cover transport to your first accommodation and perhaps some food, drinks or snacks. For me it's just common sense.

[Burma Bill]

15 hours ago, essex boys said:

it seemed a busy branch to me

Yes indeed, when I lived in Khon Kaen Province pre-Covid-19. Great shame reading of its closure. Being a former Bangkok Bank customer, I regularly used the service counters and ATMs at this busy Tesco supermarket. I used to withdraw cash here to use across the road in MAKRO at its "cash only" checkout. If my memory is correct, wasn't there a Krung Thai Bank next door to the Bangkok Bank in Tesco Lotus?? 

 

[Jumbo1968]

You can use your Bangkok Bank Card at krungsri banks atm 2 times in 1 month no charges.

My biggest complaint is people paying with their phones now, it takes forever, either the person doesn’t know how to use it or the system is very slow.

[orchidfan]

28 minutes ago, chilly07 said:

Sorry but customers cannot do everything on a banking app-see my previous response

Totally agree.

Not only the necessary letter and statements for immigration, but getting a new passbook.....which I have to do this week because the pathetically small one they provide very quickly fills up !

Will have to stop doing updates !

 

Both my "local" BB and SCB branches have closed during Covid. 

One space now occupied by a Watson and the other a Starbucks. 

That local BB branch was 5 minutes from home. 

Now the nearest big Center is a 20 minute drive. 

Finally, I still withdraw my Oz pension# from a BB atm and deposit it into a CDM alongside. 

Think I'll have to look at opening a Wise account and use that to transfer to my BB account here.

 

# Oz pension (Superannuation) will only pay it into an Oz bank !

[DJ54]

Same in Kumphawapi market branch was open 7 days a week …. Closed in June. US social security 

direct deposit BKBank is a special deposit account with no ATM or Internet access.
 

When you need money must go to branch in person and in my case I transfer monies to another useable BKBank account …. So once a month trip to branch required…. It’s ok but a pain. 
 

Only one BKBANK in the small town… next nearest branch 90 km away…. 
 

 

[Lacessit]

58 minutes ago, chilly07 said:

Sorry but customers cannot do everything on a banking app-see my previous response

In Australia, my credit union AFAIK only has one branch per state. I haven't been in any of their branches for 15 years.

I seem to be able to manage all my banking affairs by email and phone from Thailand - direct debits, Bpay, transfers to here. I think I wrote my last cheque in 2014.

When I am in Australia, it's very rare for me to need cash. Just about everything there gets paid with a debit card.

Here,they still have savings passbooks.

Banks have found they save themselves a bundle by doing everything with a stream of electrons, over paper-based transactions. IMO Thai Banks are waking up to that too.

[youreavinalaff]

1 hour ago, CharlieH said:

It would be nice if due to closures they enhanced the ones that remain, my one branch of BBL has an average waiting time of an HOUR for anything you need at the counter, the 3 girls there take an average of 15 minutes per customer, they even have confy chairs to sit at the desk ! Everything seems so paperwork heavy.

 

I dare say in 10 years we will be almost cashless! certainly like that now in the UK by all accounts with many places refusing cash.

My most recent shopping sprees in UK have come up with cash accepted everywhere. That is for every day purchases.

 

Large items, such as cars, usually require a deposit on a card and bank transfer. Something to do with money laundering restrictions.