Amazing Thai Bank

[Sakeopete]

They have a lot of paperwork above the necessary and they still have the "go to your own branch" crap on occasion as they don't know what to do and cannot say "I don't know".

I had some clown at Siam today say I had to pay my car loan at the ATM when I presented him with the paperwork slip all filled in by computer that they gave me to pay in the bank ! I want them to take it automatically from an account but they are perplexed with that.

Transferring money to someone else's account is a breeze from the ATM but a nightmare to set up online as you have to keep visiting the bloody branch to set all the things up. You cannot pay your telephone bill online as TOT is not a field in their drop down list despite Saim Commercial being listed on the back of the TOT bill for the last 3 years that I know of !

Its just their level of training, lack of knowledge and inability to think for themselves. But, if you find someone good then it does all work properly. The simple stuff is good except if you ask for some change and they point to a dish on the counter and say that is all the Bt5 and Bt10 coins they have. That they actually expect you to believe that shows that they think you are as simple as they are.

I have to disagree with about setting up transfers to other peoples accounts online. SCB is very easy and fast took me 5 minutes to set up to transfer so I can pay for the 2 properties I rent plus my mortgage that is 3 different banks.

[torrenova]

Its OK, I once went to Nat West in the UK to draw £50,000 in cash from my business account. They said I'd have to make an arrangement as it might leave them short. I told them to stop being bloody silly and to give me the money or I'd just phone the office (used to work on an investment bank dealing floor) and I'd send their share price down with some comment on Bloomberg or Reuters and they'd have to explain to their CEO why xyz million £ was wiped off their value beacuse they wanted to piss about with £50,000 !

All banks think it is their money once it is in their system and they forget that it is not, its yours !

[Scott]

I have an account with Kasikorn and have had it for nearly 20 years. They aren't bad, but like a lot of people's experiences, a lot of paperwork, a lot of hassles and a lot of "you have to go to your own branch." Everything is OK until you try to do something other than deposit or withdraw from the ATM.

[IMA_FARANG]

Amazing Thai Bank.

I am using the Siam Commercial Bank I had hoped that it would be a good bank but I guess that I am going to have to keep on hoping.

I had sent money to the SCB from Europe some of the cash was used to buy our house and when I wanted to buy a car I had to ask the bank nicely for my money. What do you want the money for they demanded, I felt that I was asking for there money to buy the car. I was told that I would have to return with the receipt from the purchase of the car to prove where the money went.

Some time later I was making arrangements to go to Spain with my wife and child, I have never used on line banking but decided to do so now with SCB they call itwww.SCBEASY.com that is far from the truth.

Having visited the bank and asked the girl there is it easy, yes she said and proceeded to take all my info so she could give me a password and what have you so that I could move my cash about even to Spain if it was needed. Great I said just the sort of service I need, I was given the package after filling in various forms and they had made more copes of my passport and away I went confident that I could now do all that I was promised.

After a few weeks in Spain I went on line to move some cash from my account in SCB to my bank in Spain. However I was confronted with yet more forms to fill in on line. Then they will send me a form to fill in by post to my home in Thailand I must sign it and show where the money has come from and they want yes-another photocopy of my passport. What do they do with all the copies of my passport?

I have simply given up all I can say is that the banks are as mad as hatters. Next time I will send the cash out first and that way I don’t have to worry about it.

Or change to an international bank like HSBC any one know a good way to give access to ones own money in Thailand?

a similiar thing happened to me when I transferred about $35,000 dollars from the states to Bangkok Bank. However, it wasn't confrontational. I have a joint account. All that happened was that my Thai girlfriend got a polite call from the bank saying that a large amount of money had been transfered into the account, and could she please expalin what the purpose was? She explained that it was to purchase property (house) in BKK. They said thank you, and that was all. Of course, I've had that bank account for over 20 years, and I know one of the tellers personally who has worked in that bank for over 10 years now.

As for transferring money out of the country it is not as simple as bringing it in. The bank must be sure the money has not been acquired from any business venture in Thailand and/or that any tax obligation in Thailand has been taken care of before it is transferred out.

Sorry, but unless you are a Thai citizen, you a still thought of as a non-resident or visitor to Thailand. I don't like it either, but that is a fact. And I've been keeping a home/family in Thailand since 1979.

[Amethyst]

Was at SCB Bank would like to do Money Gram Transfer to Overseas. I told the counter staff she said ''No Have Money Gram'' Then i showed her Signage of Money Gram outside the bank . And their face went red.

Then waited 30 mins in the i ask her is your computer ok ? she finnally said Computer no good hehehehe lol Crazy

[Neeranam]

About Amazing Thai Bank, when I got my credit card here, they asked me to have a deposit of the same amount as my credit limit.

I looked at the bank staff, and nicely told her that it looks like I'm getting a debit card ... she silently acknowledged ...

Frankly, pal, that says more about you (or the bank's perception of you) than it does about the bank.

Just think about it for a minute. You are a foreigner; you can up and leave at any moment, leaving a potentially large credit card debt behind you. In this instance, the bank is simply protecting its risk exposure from someone they feel might not pay the balance back. It's perfectly good business sense.

I dont know your status here, but I personally have no such problems. I have an HSBC Visa card and an Amex credit card with a combiined credit limit of over 1.7m. I also have a Thai issued Amex charge card.

Perhaps you were wearing open-toe sandals and a dirty Chang muscle shirt when you visited the bank?

Bendix, you judge people a bit fast, don't you?

At that time, I had only 20 times my credit limit sitting in my bank account, so I did not really understood the requirement to "deposit" extra money in a different account than my saving account. but, hey, that's the rule.

As for leaving the country ... my office is in the same building as the branch.

By the way, my office is a no flip-flop zone and I don't look like a backpacker when going to work.

So it makes me smile when the bank is making sure that they don't take any risk with me ... when I know so many people who "forgot" to pay back their loans in the late 90s.

As an example, there is still some left over from this period: Property For Sales

This does say more about the banks than me.

They are very very conservative and I have experienced this not only as a customer, but while working for them.

Bendix is a superior being to all on this bosrd. He's been here for 9 months and an expert on all Thai cuture through living in the middle of a sex are.

He judges everyone on their bank balance which makes him a sad man.

Don't expect an apology from him.

[taxexile]

Bendix

I have an HSBC Visa card and an Amex credit card with a combiined credit limit of over 1.7m. I also have a Thai issued Amex charge card.

[Neeranam]

Bendix

I have an HSBC Visa card and an Amex credit card with a combiined credit limit of over 1.7m. I also have a Thai issued Amex charge card.

I know a guy here who wears sandals and a T-shirt who has $$200 million in his bank.

[taxexile]

its not you is it neeranam ???

[Ricardo]

I recently popped into SCB, to enquire about a credit-card, since I've banked with them for several years, and usually have at least a million Baht in the accounts. And got the same response of, you open new account & deposit money, we give you credit-card up to same amount. Thanks but I'll stick with my existing overseas bank of 35 years, who give me a gold-card and no such hassle.

This business of not joing-up-the-dots also applies to banking elsewhere in Thailand. The idea that different branches, running on the same (I assume) main-frames in their Bangkok head-offices, can't provide the same service wherever you are, is hard to get used to.

I won't be investing in Thai banks anytime soon !

[grantbkk]

I have used SCB for more than six years and service has improved incrementally over time. If you have low expectations going in you will never be disappointed. Using this view regarding Thai banks I have been pleasantly surprised on occasion. My money comes from overseas in the form of a wire transfer and it is credited to my account in 9 to 14 hours without exception. I was initially upset with the ATM fees when using their machines out of my home province but I've adjusted. I use SCB internet banking and after the initial mind numbing amount of paperwork it has worked flawlessly for over three years.

I find that a calm demeanor goes along way with the banks employees. No matter what you ask the initial answer will be yes while they are shaking their head no. Keep in mind that they pay for their mistakes through their paychecks or sometimes they forfeit their job. I know you may find it hard to believe but nefarious non-Thai people try to defraud banks out of our money. The bottom line is that you should just smile and quietly not take no for an answer. No matter what I ask for the only first question invariably is, "Do you have a work permit?" I just smile and tell the flustered employee that by law I cannot work in Thailand but am permitted to stay by order of the Thai Government and show my retirement visa. Everything usually starts going uphill from there.

These people are not dimwits but the work culture does not permit them to act or think on their own. You can only feel sorry for them. If you find a representative that speaks your language and is responsive to your needs you've struck gold and keep in contact.

When Bendix goes to open a new account I want to be there to watch the fun. Let me pick the bank. Have the paramedics standing by.

[naka]

Regarding Thai banks and internet banking, I have three accounts and all are

adequate including for sending money to a third party account in Thailand.

SCB however is the least hassle since you can add a recipient online by being

sent a one time password over your mobile phone. The other two require you

to register the recipient via a pape form (unless they changed very recently).

Regarding sending funds overseas via online banking, again I have three

UK accouts with major banks and none of them allow overseas transfers online,

they all require a written and signed letter for each and every transfer.

Having said that I do know of a couple of UK banks which do allow online overseas transfers,

If I remember right AbbeyInternational was one of them.

And as to people who say they would never use a Thai bank ... where do you keep

your spending money ?

Naka.

[alexth]

hsbc non resident account.

Don't you need a work permit for that?

[PattayaParent]

. Another example of the difficulties sending money out of Thailand is if you buy and then sell a condo, to send the proceeds out of Thailand you need to show a form that proves the money came from outside Thailand in the first place. So you could work in Thailand for decades and buy a condo with money you paid Thai taxes on, but then when you sell the condo they won't let you send the money out of Thailand.

No you can't. As you said yourself in the preceding sentence you need to show a form that proves the money came from outside Thailand in the first place. If you don't have that form (old TT3, now FET) you can't buy the condo.

[PattayaParent]

hsbc non resident account.

Don't you need a work permit for that?

Think about it a little.

[bendix]

[

Bendix is a superior being to all on this bosrd. He's been here for 9 months and an expert on all Thai cuture through living in the middle of a sex are.

He judges everyone on their bank balance which makes him a sad man.

Don't expect an apology from him.

Spoken by the poster who's sole claim to sticking in anyone's memory is his defensive posturing when being derided for paying a 70 baht tip to a golf caddie.

Why should I apologise?

The fact is that it is necessarily difficult to get a credit card from a Thai bank because as farangs we are much more of a flight risk (thus repayment risk) than locals.

It aint rocket science, is it?

[PattayaParent]

I think in some cases it depends on the branch and the people that work there and their level of experience in dealing with your requirements.

I bought my first condo in Pattaya using Thai Farmers Sukhumvit (around Soi 24) while I was in Saudi. No problems except that I had to visit Bangkok to sign the transfer form.

When I moved to Pattaya I moved my account to Pattaya Klang branch which has now become Kasikorn Bank. When I wanted to buy my second condo in Pattaya this time last year I had nothing but hassle with the counter staff who did not seem to know what a TT3 or a Bai Rap Rong were. I closed the account as soon as the purchase was completed.

[bendix]

Bendix

I have an HSBC Visa card and an Amex credit card with a combiined credit limit of over 1.7m. I also have a Thai issued Amex charge card.

It demonstrates that it is very easy to get credit in Thailand, contrary to the doomsayer's constant whinging criticism. Play the game by their rules, don't expect special favours because you're a westerner, and living an easy life is . well . .easy.

[samran]

I bank with HSBC and keep all, but my immediate needs money in the UK transferring (for free) to the Bangkok branch where they have allowed me a savings bank. This is done from the UK with a 5 minute phone call.

The HSBC Bangkok branch then phone me to ask what I will spend the money on!!!! Like its any of their ****ing business!!! Since it comes from UK with the note salary attached to it you would think that by now they would have sussed it out.

Are you sure this isn't because of the unremunerated reserve requirement on short-term capital inflows greater than US$20,000? The purpose of the transfer dictates whether 30% gets withheld or not.

or potentially the tax implications of earning income offshore but repatriating it to Thailand in the year that is earned, especially while you are resident here.

[Payboy]

this bank is more customer friendly than any thai bank could ever be ....

[Naam]

I bank with HSBC and keep all, but my immediate needs money in the UK transferring (for free) to the Bangkok branch where they have allowed me a savings bank. This is done from the UK with a 5 minute phone call.

The HSBC Bangkok branch then phone me to ask what I will spend the money on!!!! Like its any of their ****ing business!!! Since it comes from UK with the note salary attached to it you would think that by now they would have sussed it out.

Are you sure this isn't because of the unremunerated reserve requirement on short-term capital inflows greater than US$20,000? The purpose of the transfer dictates whether 30% gets withheld or not.

GET REAL MAN and get used to local prevailing law and regulations! "salary" does not indicate the purpose of how you will spend the amount. would you have preferred that your bank deducted 30% and deposit it interest free with the central bank for a full year and skipped the "<deleted>" questions?

i transferred 25,000 €UR some days ago. properly labelled as "living expenses". nothing withheld, no silly questions asked but credited within 24 hours after initiating transfer. Bank is SCB, Pattaya.

[Naam]

or potentially the tax implications of earning income offshore but repatriating it to Thailand in the year that is earned

this provision seems to have been dropped Samran!

check out: http://www.rd.go.th/publish/6045.0.html

[rgs2001uk]

hsbc non resident account.

Don't you need a work permit for that?

i have no work permit, only a non imm o visa, there are differences in a resident and non resident account, horses for courses.

[singa-traz]

or potentially the tax implications of earning income offshore but repatriating it to Thailand in the year that is earned

this provision seems to have been dropped Samran!

check out: http://www.rd.go.th/publish/6045.0.html

1. Taxable Person

Taxpayers are classified into "resident" and "non-resident". "Resident" means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand on a cash basis, regardless where the money is paid, as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

Where?

If you a resident, the income from foreign source brought in Thailand is still taxable...

[Naam]

If you a resident, the income from foreign source brought in Thailand is still taxable...

there was a provision (now dropped as i mentioned before) that the amount is "only taxable if brought into Thailand the same year as earned".

[Naam]

a tax saving way might be not to transfer "income" but savings. this might work for a limited time as the thai tax authorities are not stupid (i think).

[Naam]

hsbc non resident account.

Don't you need a work permit for that?

Lord have mercy!

[chanman]

About Amazing Thai Bank, when I got my credit card here, they asked me to have a deposit of the same amount as my credit limit.

I looked at the bank staff, and nicely told her that it looks like I'm getting a debit card ... she silently acknowledged ...

Frankly, pal, that says more about you (or the bank's perception of you) than it does about the bank.

Just think about it for a minute. You are a foreigner; you can up and leave at any moment, leaving a potentially large credit card debt behind you. In this instance, the bank is simply protecting its risk exposure from someone they feel might not pay the balance back. It's perfectly good business sense.

I dont know your status here, but I personally have no such problems. I have an HSBC Visa card and an Amex credit card with a combiined credit limit of over 1.7m. I also have a Thai issued Amex charge card.

Perhaps you were wearing open-toe sandals and a dirty Chang muscle shirt when you visited the bank?

I agree, if you are established here and show some roots as well as financial security you will be able to apply for a Credit Card, Standard Chartered Bank, My Branch is BKK but I very often use Si Racha branch without a problem. I have Visa Gold (unsecured credit card) 250,000 baht limit.

Current account with a check book and a debit / atm card that allows 100k from the atm

No Online banking but great telephone banking I am informed Online Banking available this year.

[singa-traz]

If you a resident, the income from foreign source brought in Thailand is still taxable...

there was a provision (now dropped as i mentioned before) that the amount is "only taxable if brought into Thailand the same year as earned".

It does not change anything. Thailand is only going to tax your income (foreign or domestic) only during the same tax period.

What you earned before, one or 10 years ago, is not taxable.

If the question is "Can I cheat RD and declare saving when actually it is income", that's a different game ...

[ray08]

If you a resident, the income from foreign source brought in Thailand is still taxable...

there was a provision (now dropped as i mentioned before) that the amount is "only taxable if brought into Thailand the same year as earned".

It does not change anything. Thailand is only going to tax your income (foreign or domestic) only during the same tax period.

What you earned before, one or 10 years ago, is not taxable.

If the question is "Can I cheat RD and declare saving when actually it is income", that's a different game ...

I like how easy one becomes a Resisdent ( Tax ) in Thailand , But when it comes to Visa,s and proper Residence to stay you have a ton of critera,s to meet , one being 3 continous one year visa;s , but stay here 180 days and welcomed with open arms as a tax resident

a bit hypocritical i say