What About Thai Banks?

[Gonsalviz]

Sometimes Asian banks are not as reliable as they should be.

Are there any major preferences? It seems Siam Commercial is pretty popular with the Thais.

Any better ones?

[sfokevin]

No

[johnnyk]

Very pleased with K-Bank for more than two years now.The best ones are pretty good by any standard, the poor ones are really slipshod.

[Tomkagai]

Always found SCB to be the best and K-bank inn second place

[naka]

Always found SCB to be the best and K-bank inn second place

I would agree with that based on quality of service.

As regards interest rates, they all seem to pay the same miserable rates.

Naka.

[libya 115]

Krung Thai Bank do not pay interest on 'Farang' savings accounts. All the other banks pay 0.75%.

Kasikorn Bank have always been good for me, SCB is well recommended.

One thing to note is how the Thai bank has connections with your bank in your home country.

For example when I transfer funds from the UK into my KTB it takes just 2 days. I request Monday and it is in my Thai bank Wednesday. However K-B takes 5 days minimum. So speak to your home bank and find out which Thai bank they deal with.

[longball53098]

I have been very happy with SCB,,,,,,,,,good service and seem to have branches and ATMs all over,,,,,,,,,,,,and the EasyNet online banking is really good for me,,,,,,,,,,,,I have 3 accounts in different Provinces and adding accounts, paying bills, topping up phones , transferring money to another bank is all easy and quick,,,,,,,,,,,I Swift money in from my US account regularly and it only takes a day or so,,,,,,,,,,,,

3 years of banking with SCB and to date pretty good service and no issues as of today,,,,,,,,,,,,,

[Mitker]

I'm at Bangkok bank for my private account and Krungsri for my company.

No regret with Bangkok Bank (except typical bureaucracy: 22 signatures -sic- just to rent a safe when I was already client in the agency).

As for Krunsri, I'm thinking about moving. They make you pay for every single thing: you pay to deposit on your account as soon as your not in your agency, you pay twice to withdraw from your account (a commission on the amount + the price of the check you have to buy (!) and then use to withdraw (! again)). The internet banking website is prehistorical: after filling and signing an amazing amount of documents, I discovered I was just allowed to pay bills for utilities. No transfer to any other account possible.

From my European bank website, I'm transferring (from my thai desk) money to other people accounts and it doesn't cost me anything, whatever the amount, whatever the country (within Europe), whoever the beneficiary. 0 cent!

The Thai banking system is (at the agency level) similar to the Spanish one in the 70s, during the Franco regime.

But the Thai ATM system is far in advance with what I know in Europe. Compensation?

[toptuan]

I've banked at Kruengthai, Ayuthaya, and SCB. With SCB for four years, now, and SCB far superior. I think they have the most user friendly on-line banking services as well (with only a few minor glitches).

[worldfun]

about some of the foreign banks like citi, hsbc, UOB, GE Money bank etc.

heard some will pay more interest & more efficient like online banking, but I've got my doubts knowing e.g. Citibank don't allow online transfers to Citi Thailand while most other countries like India, Indonesia, Hong Kong OK LOL!

[Krub]

Krung Thai Bank do not pay interest on 'Farang' savings accounts. All the other banks pay 0.75%.

Kasikorn Bank have always been good for me, SCB is well recommended.

One thing to note is how the Thai bank has connections with your bank in your home country.

For example when I transfer funds from the UK into my KTB it takes just 2 days. I request Monday and it is in my Thai bank Wednesday. However K-B takes 5 days minimum. So speak to your home bank and find out which Thai bank they deal with.

It is not true, I get the same interest from KTB as I get from SCB and I am a not Thai and do not have a work permit, only a 1 year extension based on retirement !

KTB will send me a credit advice by e-mail as soon as funds are cleared incoming from abroad. It takes maximum 2 days to clear sometimes only 1 when I send funds from Japan.

SCB does not send any credit advices and you must check on line to see if your funds have cleared. They will provide a credit advice if you ask for it at your branch. They tend to clear within 2 to 3 days

Both banks offer internet banking unlike Bangkok Bank which will only give it if you have a work permit

Edited May 1, 2008 by Krub

[johnnyk]

Krung Thai Bank do not pay interest on 'Farang' savings accounts. All the other banks pay 0.75%.

Kasikorn Bank have always been good for me, SCB is well recommended.

One thing to note is how the Thai bank has connections with your bank in your home country.

For example when I transfer funds from the UK into my KTB it takes just 2 days. I request Monday and it is in my Thai bank Wednesday. However K-B takes 5 days minimum. So speak to your home bank and find out which Thai bank they deal with.

Do you mean K-Bank?

One time it took 5 days for transfer from Canada but this January it took about a day and a half.

[flying]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

[Tomkagai]

about some of the foreign banks like citi, hsbc, UOB, GE Money bank etc.

heard some will pay more interest & more efficient like online banking, but I've got my doubts knowing e.g. Citibank don't allow online transfers to Citi Thailand while most other countries like India, Indonesia, Hong Kong OK LOL!

Citibank do allow online transfers to Citibank Thailand, have an account in Singapore and Thailand and do this all the time...

[Tomkagai]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

HSBC are a rubbish bank, over charge their clients and customer service is dire....

Was with them for a few years and switched to Citibank International banking in Singapore...far better

[jimmyyy]

kasikorn bank has serviced me pretty well over the last year, i like there on line banking, and swift transfers are quick and easy, but my bank in the states recommended K bank to me, they work with them.

[dr_Pat_Pong]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

and even in Hong Kong

[worldfun]

Tom kha gai,

You're correct of course online transfers are allowed between SG & TH via citi, but NOT via the citi internal instant & free (and able to save account for future easy transfer unlike swift) transfers ONLY via SWIFT (takes minimum 1 bank day to clear, but typical up to 3 days if first time to new account) if right (unless your citi SG 'international' is different than my citi SG 'local')?

Cheers!

[naka]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

But how far will you have to travel to get to your nearest branch (if you need to) ... If you live in Phuket

for instance then it's a two hour flight each way

Naka.

[flying]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

But how far will you have to travel to get to your nearest branch (if you need to) ... If you live in Phuket

for instance then it's a two hour flight each way

Naka.

Will be in Chiang Mai & hope there is a branch.

The only good thing was as I said. I can start it now while still in US

Which could be great for the 3 month rule of retirement?

[Tomkagai]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

But how far will you have to travel to get to your nearest branch (if you need to) ... If you live in Phuket

for instance then it's a two hour flight each way

Naka.

Will be in Chiang Mai & hope there is a branch.

The only good thing was as I said. I can start it now while still in US

Which could be great for the 3 month rule of retirement?

Stand to be corrected but believe HSBC only operate out of BKK

[yeti]

How is HSBC?

I have been considering them because they have branches in US. Thailand. Singapore etc.

Also I see if I open a prefered account now from US I can also link a Thai branch pretty easily.

Anyone using them?

Thanks

HSBC in Bangkok is probably the worst HSBC branch in the world, rude and unhelpful.

Not happy of the few times I had to deal with Standard Chartered.

Siam Commercial Bank has the best service of banks I have tried in Thailand, and it is probably the safest one in case of crisis (the main shareholder being the Crown Property Bureau). But the internet services don't use one time password, which means it's not really secure.

I have found Kasikorn Bank to have a rather poor service (at least the branch I use), but their internet banking is not too bad.

And finally I'd suggest to avoid Thai Military Bank, they are regularly losing money, have bad notation.

[gwynt]

Krung Thai Bank do not pay interest on 'Farang' savings accounts. All the other banks pay 0.75%.

Kasikorn Bank have always been good for me, SCB is well recommended.

One thing to note is how the Thai bank has connections with your bank in your home country.

For example when I transfer funds from the UK into my KTB it takes just 2 days. I request Monday and it is in my Thai bank Wednesday. However K-B takes 5 days minimum. So speak to your home bank and find out which Thai bank they deal with.

I bank with SCB in thailand and with Nationwide in UK.

I have no problem transfering money while I am in Thai but do you have to download swift form and then fill out sign and return to UK for action?

I don't have the internet banking facility with SCB, which way is the easiest/quickest way to get money to Thai bank???

Gwynt

[Gary A]

I really think it all depends on the branch. I have a Siam Commercial account in Jomtien and another in Loei. There is a 20 baht fee for ATM transactions within a different province.

The only bank I had problems with was when Kasikorn was still Thai Farmers. The refused to deposit checks from the US into my account if the check was was less than $100. I once sold a vehicle and deposited the money in a different province. They charged me a fairly healthy fee. I didn't want to carry that much money so I paid the fee. I changed banks shortly after that. I changed to Krung Thai and the checks were no problem regardless of the amount. I would have kept Krung Thai but a Siam Commercial branch was much more convenient.

I have had no problems with Siam Commercial but have to admit that I use them because of the convenience of the branch locations.

[Seizhin]

My Mother has been on BBL for nearly 10 years, but maybe that's because she's knows the manager well.

Recently, I tend to rely on SCB as it's more convenient for me and their service arent mediocre either.

I've never tried KBANK but I heard it's one of the most aggressive bank in Thailand as their supervisors are from the new era.

There has been missing money cases in BBL, so I honestly fears that it might happen to you.

[robanywhere]

I agree with the above comments. I have had SCB for two years and UOB for a few months. I am quite satisfied with SCB, especially the update to SCBeasy online banking (although I think the security might be better). I have three accounts with them -- current, savings, and my daughter's savings (which gives her an ATM card), as well as two credit cards. The credit cards can be set up for automatic payment. I think all the other bill paying options are similar to other banks -- utilities (True, UBC, Met Power) and mobile topup. If you bank at a major branch (I go to SCB Plaza at Ratchayothin) I have a good relationship with one of their financial services reps, so she is helpful in linking other services (such as SCB's auto insurance) and the better interest-bearing instruments (Thai bonds pay about 3% or so). My wire transfers from the US are quick and worry-free. I've had good service in cancelling lost ATMs and getting replacements. But like most Thai bureaucracy, getting set up for accounts still requires the usual paperwork.

SCB's branch/ATM coverage is as good as the rest, but as noted above, BHT20 is charged for ATM withdrawals, outside of your home area.

SCB is also the oldest bank in Thailand (100 years) and was set up by King Chulalongkorn. I've heard that HM Rama 9 still has significant financial interest in the bank, so certainly has a reputation to uphold.

[flying]

Thanks for the info on HSBC I did not know that.

I guess I will have to wait till we return & just open an account at SCB

Actually thinking back..............SCB was teh best when I was there last.

Made large cc withdrawals & also they had branches even in Nan easy to find.

Edited May 4, 2008 by flying