Banking And Fiances From Thailand

[chrisofphoenix]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, finally received her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

[barrybike]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, finally received her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

you can always transfer money to siam comercial from your own account in usa .leave the account open in thailand would be my advice......

[andyc2006]

You already know about the Chase & Bank of America options, I'll just throw 2 more at you.

Kasikorn Bank with online banking and a "virtual credit card" that links to your Thai Paypal account. Then setup a US Paypal account too. You can transfer money between your Paypal accounts free, and then transfer money from your Thai Paypal account to Kasikorn.

Bangkok Bank (which has a branch in New York City). You can do ACH transfers to your Bangkok Bank account using the SWIFT code for the New York branch, but your account number from your branch here in Thailand, thus saving on some fees.

[thaiwanderer]

As she is moving permanantly suggest bulk can go to any account she may wish to use in your country and for family emergencies etc. maintain an appropriate float in the SCB account and use their online facility??

[SKORPiO]

You already know about the Chase & Bank of America options, I'll just throw 2 more at you.

Kasikorn Bank with online banking and a "virtual credit card" that links to your Thai Paypal account. Then setup a US Paypal account too. You can transfer money between your Paypal accounts free, and then transfer money from your Thai Paypal account to Kasikorn.

Bangkok Bank (which has a branch in New York City). You can do ACH transfers to your Bangkok Bank account using the SWIFT code for the New York branch, but your account number from your branch here in Thailand, thus saving on some fees.

How exactly do You transfer funds between two paypal accounts for free?

regards, Bartek.

[thaihome]

I think you will find that there is no connection allowed between the Bangkok BofA account and a US one. The Thailand BofA is required to be a separate entity, as banking regulations are state dictated (within guidelines from the Federal Government), which state would the Thailand company be subject to?

I suggest she sign up for SCB internet banking before she leaves and you use that to manage it from the US.

TH

[jfchandler]

I have BofA accounts in the USA. But you cannot have an account with the Bank of America branch in Bangkok. It is only a commercial banking office, and doesn't give you any ability to move money between Thailand and the USA.

The BKK Bank operation in New York in a better option in that they do have their own ACH address. Thus, you can ACH money from any U.S. bank account that allows ACH transfers to the BKK Bank ACH number, using your Thailand BKK Bank account number. The New York branch then automatically will forward it onward to the corresponding BKK Bank account in Thailand. That works for moving money from the USA to Thailand.

As to moving money from Thailand to the USA, BKK Bank has an international remittances procedure you can sign up for. But it is more limited, and mostly aimed at providing for school expenses in the USA or financial support for family members, which may be applicable to the OP's situation.