sunsetlover Posted February 11, 2009 Share Posted February 11, 2009 A simple financial question. I want to open a bank account here, especially for the Foreign Currency Transaction Form, for the purchase of condominium. Also, do all banks charge the same for incoming/outgoing wire transfers? as I may be doing a few of these. Thank you! Link to comment Share on other sites More sharing options...
iJuzWannaPreach Posted February 11, 2009 Share Posted February 11, 2009 Bangkok bank...no work permit required. Link to comment Share on other sites More sharing options...
Explorer Posted February 11, 2009 Share Posted February 11, 2009 bangkok bank - yes but they do require work permit to open up an acct Explorer Link to comment Share on other sites More sharing options...
peacerichard Posted February 11, 2009 Share Posted February 11, 2009 bangkok bank - yes but they do require work permit to open up an acctExplorer I would recommend HSBC. No charges for premier customers. I have had a few glitches with them but they were always sorted. Get to know one of the managers and stick with that person either by phon eemail or direct contact Khun Pinsinee and Khun Naen I would recommend. Link to comment Share on other sites More sharing options...
2008bangkok Posted February 11, 2009 Share Posted February 11, 2009 K bank..the only one that gives your able to shop on the internet with if you have a shopping card Link to comment Share on other sites More sharing options...
jfchandler Posted February 11, 2009 Share Posted February 11, 2009 The reference above to Premier account with HSBC is a good international account, but requires you have money with the bank of about $100,000 U.S. in order to qualify. If you don't have and keep that, HSBC is not a good option for Thailand. And, at BKK Bank, a work permit is not required for all things and all accounts. You should be able to open a simple savings account without a work permit there. And as with all things banking in Thailand, what they tell you at one branch won't necessarily be the same as what another branch of the same bank tells you. So if you get a NO, go down the street and ask again. It always goes like that. Kasikorn also is generally considered pretty easy regardless of work permits. Link to comment Share on other sites More sharing options...
regfrancis Posted February 11, 2009 Share Posted February 11, 2009 A simple financial question. I want to open a bank account here, especially for the Foreign Currency Transaction Form, for the purchase of condominium.Also, do all banks charge the same for incoming/outgoing wire transfers? as I may be doing a few of these. Thank you! Kasikorn have the best internet banking, but won't give retirees a credit card. Citibank will do a credit card. (for internet purchases) Not like western banks - all Thai banks want you in the branch office to do any major transactions or transfers. Link to comment Share on other sites More sharing options...
Toany Posted February 11, 2009 Share Posted February 11, 2009 Explorer I would recommend HSBC. No charges for premier customers. I have had a few glitches with them but they were always sorted. Get to know one of the managers and stick with that person either by phon eemail or direct contact Khun Pinsinee and Khun Naen I would recommend. I had a few glitches with HSBC as well. They ignored my request to put on the transfer what the money entering Thailand was for. Then the Thai HSBC said it could not be changed. Then they promised to do lots of things. And never did any of them. Eventually they sorted it out before I had a heart attack, then have me 100 pound for the upset. HSBC the international local bank that messes international things up. Give them a miss Tony Link to comment Share on other sites More sharing options...
UncleFrank Posted February 11, 2009 Share Posted February 11, 2009 I opened an account at Bangkok. Easy...but they do treat customers like crap. I cringe if I need to use their wire service desk. Rude to the core. I also opened an account at HSBC, not easy, fees are high but doable. Keep a close eye on your account as a friend has his account hacked for 100,000 baht by an employee, inside the bank. Took some time to sort it out. Link to comment Share on other sites More sharing options...
Isee Posted February 12, 2009 Share Posted February 12, 2009 I don't know how you guys do it, I've tried a number of times with various banks and they all told me with no work permit or some specific type of visa, I couldn't open one. I even told them I needed one to purchase a condo and could show them the contract, but just the usual shrug the shoulders couldn't care less attitude. I just got the GF to open another account and use that myself with Siam Bank - sure there are risks but I don't keep considerable sums in there and I hold the card and book. OK, I've read enough that guys can open accounts at "some" branches.....but pot luck on the branch and the person you talk to on the day. Isn't it just stupid that you have to show the funds coming from overseas to purchase a condo, but can't open an account to hold those funds....nor then to pay the ongoing costs such as juristic fees, elec, water, sat tv etc etc.....TiT as they say To the OP....search through all the forums where this topic has been discussed and try to find guys stating the specific branch they were successful at and try your luck. Link to comment Share on other sites More sharing options...
soundman Posted February 12, 2009 Share Posted February 12, 2009 I know the question is Bangkok specific, however, I'm moving this topic to the banking forum for wider coverage on this issue. A search of that forum will also provide answers to the current requirements to open a bank account. Link to comment Share on other sites More sharing options...
Soutpeel Posted February 12, 2009 Share Posted February 12, 2009 HSBC the international local bank that messes international things up.Give them a miss So very very true.....Was with HSBC (with a premier account) for years and customer service is dire... Link to comment Share on other sites More sharing options...
samlowry Posted February 12, 2009 Share Posted February 12, 2009 Is it possible to open bank acc. remotely? Is it possible to make outgoing wire transfers? Link to comment Share on other sites More sharing options...
think_too_mut Posted February 12, 2009 Share Posted February 12, 2009 Is it possible to open bank acc. remotely?Is it possible to make outgoing wire transfers? Where on earth would that be possible? Link to comment Share on other sites More sharing options...
Soutpeel Posted February 12, 2009 Share Posted February 12, 2009 Is it possible to open bank acc. remotely?Is it possible to make outgoing wire transfers? If you are talking about Thailand....No and Yes (with conditions) If you are taking about somewhere like Singapore or Hong Kong Yes and Yes Link to comment Share on other sites More sharing options...
think_too_mut Posted February 12, 2009 Share Posted February 12, 2009 I don't know how you guys do it, I've tried a number of times with various banks and they all told me with no work permit or some specific type of visa, I couldn't open one. That is how it should be. Although it has worked in favor to those who turned up and opened an account with no visa, just passport, it's a sign of incompetence that stretches throughout the banking organizations. Small wonder then they air complaints about this or that. The bank staff that let them open an account off the street allowed them to do an illegal, albeit convenient thing. There are anti money laundering laws, if a customer facing staff employed by a bank does not know about them or ignores them, that's a serious matter. How widespread that incompetence is - some people even advise here on banks that require no work permit. All those Vladimirs with bags of money would be happy to walk in, dump it on a Thai bank and send it to some account back in Russia or abroad. Link to comment Share on other sites More sharing options...
Soutpeel Posted February 12, 2009 Share Posted February 12, 2009 All those Vladimirs with bags of money would be happy to walk in, dump it on a Thai bank and send it to some account back in Russia or abroad. So you are accusing all Russians who come to Thailand of being criminals... ??? Link to comment Share on other sites More sharing options...
think_too_mut Posted February 12, 2009 Share Posted February 12, 2009 (edited) All those Vladimirs with bags of money would be happy to walk in, dump it on a Thai bank and send it to some account back in Russia or abroad. So you are accusing all Russians who come to Thailand of being criminals... ??? What a silly statement. However, it is incomplete, you could have said: all Russians + their dogs. Edited February 12, 2009 by think_too_mut Link to comment Share on other sites More sharing options...
Soutpeel Posted February 12, 2009 Share Posted February 12, 2009 All those Vladimirs with bags of money would be happy to walk in, dump it on a Thai bank and send it to some account back in Russia or abroad. So you are accusing all Russians who come to Thailand of being criminals... ??? What a silly statement. However, it is incomplete, you could have said: all Russians + their dogs. Link to comment Share on other sites More sharing options...
think_too_mut Posted February 12, 2009 Share Posted February 12, 2009 (edited) Just to show how incompetent Thai bank staff can be, consider the difference between the process in Japan and Thailand. Both countries have signed same anti money loundering treaties and have to stand up to their obligations: Even with work permit and company letter, Japan banks (including Citi and HSBC) request info on how long your employer has been in business worldwide and in Japan, number of staff, yearly revenue, some other details visible only to those who can access main company registry (attorneys). Only then you can open 1 account for 1 person from 1 household (house papers required for extra ATM cards for wife/children) in 1 bank in Japan. They must live live (have an Japanese ID card) on the very same address that must be residential, not office. Then, consider a branch of a Thai bank that oughts to be aware and enforce the same laws, lets someone in thongs, shorts and singlet, walk in and open an account without anything. (Granted, Japan is worried about North Korea and Russia money laundering but it's, by the same agreement, Thai's problem on their theritory and banks too). Edited February 12, 2009 by think_too_mut Link to comment Share on other sites More sharing options...
Soutpeel Posted February 12, 2009 Share Posted February 12, 2009 lets someone in thongs, shorts and singlet, walk in and open an account without anything. First the russians and now the thongs, shorts and singlet brigade....however you omitted...bald head and tatoos in this description... Link to comment Share on other sites More sharing options...
think_too_mut Posted February 12, 2009 Share Posted February 12, 2009 lets someone in thongs, shorts and singlet, walk in and open an account without anything. First the russians and now the thongs, shorts and singlet brigade....however you omitted...bald head and tatoos in this description... I leave it to your immagination. In short, I would not deal with a bank that lets people like me open an account with them. Link to comment Share on other sites More sharing options...
brahmburgers Posted February 12, 2009 Share Posted February 12, 2009 I'm relieved I opened an account years ago - when Thai xenophobia was less testy than it is now. Still have the account. No work permit or other restrictions. Oh, and I walked in there the initial time - wearing flip flops and tattered shorts. Link to comment Share on other sites More sharing options...
bkk_mike Posted February 15, 2009 Share Posted February 15, 2009 I got one set up, but never actually use it... Simply took my wife going in to the branch where she's banked for years, and asking if I could open a savings account. Passes all the money-laundering rules as they know the address, etc. from my wife, and with her having been a customer for years. Anyway, I thought the restriction on requiring a work permit to open an account was no longer required, so long as you had a valid non-imm visa. Link to comment Share on other sites More sharing options...
Kf6vci Posted February 15, 2009 Share Posted February 15, 2009 Is it possible to open bank acc. remotely?Is it possible to make outgoing wire transfers? Where on earth would that be possible? A: in Germany! I did that on Saturday. The process is called Post Ident It's free and one has to show the passport at a Post Office. Online Banks use it all the time... Cheers, Chris Link to comment Share on other sites More sharing options...
cosmont Posted February 15, 2009 Share Posted February 15, 2009 (edited) I opened a Saving account at OMSIN Bank (government saving bank) in front of SuanPlu immigration office. No need work permit friendly staff... But I prefer Bangkok Bank who is more popular than OMSIN, I opened a saving bank account with them but you must try few agencies as all do not apply the same policy regarding WP. Try the Silom agency (nearly oposite of Soi 7), they did not request WP but it was few years ago... Minimum deposit 500B and get debit card ("Be First") immediatly. Good luck Edited February 15, 2009 by cosmont Link to comment Share on other sites More sharing options...
andyc2006 Posted February 15, 2009 Share Posted February 15, 2009 Is it possible to open bank acc. remotely?Is it possible to make outgoing wire transfers? Where on earth would that be possible? You can do it in the States. I've still never physically been to any of my main bank's branches -- it only has branches in Texas and I lived in California and then Nevada before moving to Thailand. (note: this might've changed since 9/11 & the Patriot Act) Link to comment Share on other sites More sharing options...
think_too_mut Posted February 15, 2009 Share Posted February 15, 2009 Is it possible to open bank acc. remotely?Is it possible to make outgoing wire transfers? Where on earth would that be possible? A: in Germany! I did that on Saturday. The process is called Post Ident It's free and one has to show the passport at a Post Office. Online Banks use it all the time... Cheers, Chris That's not money going from an account to another country. Opening an account and moving money from there is what we are talking. Link to comment Share on other sites More sharing options...
chanwit Posted February 15, 2009 Share Posted February 15, 2009 I have my account with Bangkok Bank. I don't have a work permit. My experience is that Bangkok bank is the only bank that you can open an account without a work permit. Bangkok bank will offer you a savings account and an ATM card with no minimum balance. They have all been very friendly but you do need to go to a branch in a large shopping center because the smaller branches and smaller cities are mainly used to handleing the locals. I've always found someone at Bangkok Bank that speaks enough English. You just have to be patient. You need to go to an embassy, in my case the U.S. Embassy and optain a letter that states you want to open up a banking account; there is a fee of course. Take the letter and your passport to a larger branch with your passport and money and open the account. They gave me my ATM card on the spot. The usual fees for ATM vary with you home country bank but usually comes out to be about 3%. If you have a bank that doesn't charge ATM fees you will get money back. In my case I have Wachovia which has been taken over by Wells Fargo and they refund me the ATM charges. Bangkok bank will give U their SWIFT code and you can have money wired to your account without a Bangkok Bank charge. Bank of America charges $40 for a wire which can be as much as $100,000 or more. Other banks charge $50 but there is no Bangkok Bank charge for receiving the money. If you need a large amount fast I have Bangkok Bank do a Cash Advance from my US bank account and I get it right away. The charges for this are more as any cash advance is but there are many reasons why having the money by a certain date out weigh the cost of the advance. I think the charge was about $125 for a $5000 cash advance. It comes out of your checking account just like an ATM advance. ATM withdrawals have a daily limit of 20,000 baht or so. Love that Bangkok Bank, Chanwit Link to comment Share on other sites More sharing options...
chanwit Posted February 15, 2009 Share Posted February 15, 2009 Forgot to mention that you will not have online access to your Bangkok Bank account unless you have a joint account with a Thai National. There are many good reasons just to have your single name on the account. I think the Extended stay regulations say your bank account cannot be a joint account. I never had a problem without the internet access. It sometimes is better to do payments in person because I'm not skilled and don't trust the online payment system here. Chanwit Link to comment Share on other sites More sharing options...
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