Krung Thai Bank Sucks!

[olsen]

My Thai wife is a real estate broker.

She regularly receives huge amounts from outside Thailand from her clients who want her to buy land in LOS.

With Siam Commercial Bank, Kasikorn Bank and Bangkok Bank we have often received 6 to 20 million THB in one go.

When the money was on our account the bank called us to tell us.

At the moment we have a client who is buying a nice plot of beachfront land.

We were waiting for the money to arrive from overseas to our bank.

Monday morning they called us from Krung Thai bank that the money now was in Bangkok.

They asked what was the money for?

My wife said it was for purchasing land for a client.

They said OK and told us the money would be in our account Tueday.

So we contacted the land owner and arrange to meet her yesterday Wednesday, to sign a contract and transfer the land to our client's name.

But when my wife went to her bank to withdraw the money, there were no money from our client.

So my wife asked, where are the money, you told me I would get the money Tuesday. Today it is Wednesday!

They said, we need copy of passport from the client who sent us money and copy of contracts and everything regarding this transaction. Also copy of clients marriage certificate with his Thai wife.

What the heck???

So we wasted 3 days gathering all these docs and luckily the seller of the land didn't mind to wait a few days for her money.

But again. What the heck???

The bank told us that when receiving over 5 million THB the law states the bank must report to the government.

But again....what the heck???

We never experienced this with any of our other banks!!

Is this a new law? If yes, how old is this law?

Has anyone else experienced this?

[MegaRanter]

I think you should cool down , your wife being in business should know laws about huge sum transfers.

The bank has every right to delay and make sure its terms are met. I have seen cases of banks clearing these kind of funds and releasing it, only later to find it the sender was deceived into parting with his cash.

If this is the tone you used for the KTB, I am not surprised they are cuddling the cash till you calm down.

Meanwhile, KTB paid up for our house, throwing in extra a million for decorations, now I would not take your word over theirs, being that foreigners can not bring in money to buy land in Thailand. Anyways, nice story.

[scorecard]

Krung Thai seems to have improved in many ways, but it's like all Thai banks, suddenly something pops up which takes each bank backwards a few paces.

I have one branch of KT near my condo which has changed unbelievably and is now very customer focused and everything is 'can do'!

On the other hand I have another branch very close to my office which has been changed to the new modern appearance but the service is awful. The focus is totally on the importance and status of the branch manager.

I went there recently hoping to very quickly transfer a payment to a Thai contractor who had completed some minor work on my house in another province, just 4,500Baht. I had all the relevant details of the contractors KT account but before we got anywhere I had to have an interview with the arrogant lady bank manager who wanted to know every detail of my PR Residence book and my work permit and my family situation. Before I spoke to her I was asked if I had a necktie in my bag, which I didn't.

Suddenly i was informed that the transaction was complete. I quickly indicated that I wanted to send a brief note with the transaction indicating who had sent the payment. It was as if I'd asked for the moon. I was quickly and strongly told that no such service existed with any bank anywhere in the world, and that my transcation was in fact a nuisance to the bank.

Win some, lose some.

[xerostar]

Only yesterday I had a bad experience with the KGB .. er I mean KTB in Sawang Arom.

I went to the local KTB ATM to withdraw some cash.

Halfway through the transaction there was a power failure and the screen went blank.

My credit card was still inside the machine and of course, no cash, no receipt.

I waited a few minutes to see if the power would return.

I was afraid that if I left the ATM, my cash might appear when the power returned.

I left my wife to watch the ATM while I went to the KTB just down the road.

We have a savings account there. I reported the problem.

I wanted them to send someone down to open the machine and get my card back.

They asked what sort of credit card did you lose?

I said I didn't lose it, your ATM ate it!

I said it was a Bangkok Bank Visa card.

"Not can do" they said "you have to call Bangkok bank".

I'm sure if I had said it's a KTB card they would have arranged to get the card back in 5 minutes.

Or maybe it was because I wasn't wearing a tie?

I went back to collect my wife at the ATM and the power was back on already - but no sign of the card.

I called Bangkok Bank and they said "you have to cancel that card and get a new one"

"You can get a new one at any Bangkok branch - just take your passport as ID".

I don't normally have my passport in my back pocket and we were 37 Km from home.

Luckily my wife had a bank book from another bank in a town 35 Km away and lucky we had enough

fuel left to get there.

It was bloody inconvenient to say the least, it would have been a major problem if we didn't have enough fuel.

Probably would have had to beg someone to help?

So we will be closing our account at the KTB very soon!

[JetsetBkk]

<snip> I have seen cases of banks clearing these kind of funds and releasing it, only later to find it the sender was deceived into parting with his cash.<snip>

What has that got to do with the bank?

[Nio]

I am curious to know how foreigners living outside of Thailand can buy land and have it transfered to their name?

Can you elaborate more detail on this please?

[Tatsujin]

As my wife constantly reminds me (she is Thai) . . . the banking system here in Thailand is NOT setup the same as it is in the West and NOTHING is as easy to do here as it is there, especially online banking. She also keeps saying that Thai's (on the whole) don't use online banking for example in the same way as we do in the West and that it is still a relatively new practice here. As with everything in Thailand, one day they will ask for a work permit, another day they won't need it but will ask for something else instead and things seem to change on a daily basis with regards to "rules and regulations". Local offices are always contradicting what Head Office advises or simply don't know how to do what they are supposed to do.

Our most recent 'fun' with them was adding a local UK bank to my online banking account so that I can transfer funds directly to 'home' when required. The usual hoops to jump through (including requiring a signed photocopy with picture of my mother's passport - the recipient of the funds - hard to do considering she is in her 60's, never had a passport or any other form of identification with her photo on it lol) but it got done in the end once I'd put the person in the Local Branch in touch with the right person at Head Office who knew how to go about doing it.

I'm just grateful that things usually CAN get done here with a little persistence and also by not losing your patience too much.

[olsen]

I think you should cool down , your wife being in business should know laws about huge sum transfers.

The bank has every right to delay and make sure its terms are met. I have seen cases of banks clearing these kind of funds and releasing it, only later to find it the sender was deceived into parting with his cash.

If this is the tone you used for the KTB, I am not surprised they are cuddling the cash till you calm down.

Meanwhile, KTB paid up for our house, throwing in extra a million for decorations, now I would not take your word over theirs, being that foreigners can not bring in money to buy land in Thailand. Anyways, nice story.

I am cooled down now

It was probably our luck that it was my wife and not me who talked with the bank manager!

My wife never looses her temper. Mai Pen Rai.

[olsen]

<snip> I have seen cases of banks clearing these kind of funds and releasing it, only later to find it the sender was deceived into parting with his cash.<snip>

What has that got to do with the bank?

Just my words

[olsen]

I am curious to know how foreigners living outside of Thailand can buy land and have it transfered to their name?

Can you elaborate more detail on this please?

Did I mention anything about foreigners??

My wife's clients are most often Thai nationals living outside the Kingdom.

But of course we also have foreign clients buying in their wife's or girlfriend's name.

Many of our clients also buy leasehold.

Or we set up a Limited company for the foreigner so he can control the land via his company.

[zzaa09]

Krung Thai seems to have improved in many ways, but it's like all Thai banks, suddenly something pops up which takes each bank backwards a few paces.

I have one branch of KT near my condo which has changed unbelievably and is now very customer focused and everything is 'can do'!

On the other hand I have another branch very close to my office which has been changed to the new modern appearance but the service is awful. The focus is totally on the importance and status of the branch manager.

I went there recently hoping to very quickly transfer a payment to a Thai contractor who had completed some minor work on my house in another province, just 4,500Baht. I had all the relevant details of the contractors KT account but before we got anywhere I had to have an interview with the arrogant lady bank manager who wanted to know every detail of my PR Residence book and my work permit and my family situation. Before I spoke to her I was asked if I had a necktie in my bag, which I didn't.

Suddenly i was informed that the transaction was complete. I quickly indicated that I wanted to send a brief note with the transaction indicating who had sent the payment. It was as if I'd asked for the moon. I was quickly and strongly told that no such service existed with any bank anywhere in the world, and that my transcation was in fact a nuisance to the bank.

Win some, lose some.

Rather pretentious, condescending, and even rude.

[endure]

Only yesterday I had a bad experience with the KGB .. er I mean KTB in Sawang Arom.

I went to the local KTB ATM to withdraw some cash.

Halfway through the transaction there was a power failure and the screen went blank.

My credit card was still inside the machine and of course, no cash, no receipt.

I waited a few minutes to see if the power would return.

I was afraid that if I left the ATM, my cash might appear when the power returned.

I left my wife to watch the ATM while I went to the KTB just down the road.

We have a savings account there. I reported the problem.

I wanted them to send someone down to open the machine and get my card back.

They asked what sort of credit card did you lose?

I said I didn't lose it, your ATM ate it!

I said it was a Bangkok Bank Visa card.

"Not can do" they said "you have to call Bangkok bank".

I'm sure if I had said it's a KTB card they would have arranged to get the card back in 5 minutes.

Or maybe it was because I wasn't wearing a tie?

I went back to collect my wife at the ATM and the power was back on already - but no sign of the card.

I called Bangkok Bank and they said "you have to cancel that card and get a new one"

That's the same as happens in the UK. If an ATM eats your card, no matter whether it's a branch of your bank or not, you have to cancel and get a new one.

[JimmyTheMook]

They are a garbage bank and should be avoided.

I have found Siam Commercial Bank to be the most "foreigner friendly" of the lot.

[zzaa09]

They are a garbage bank and should be avoided.

I have found Siam Commercial Bank to be the most "foreigner friendly" of the lot.

SCB does {and always has} have this presence. Their history and background might disclose why this fine financial institution is "foreign friendly" and always the most stable. Keen residents will always choose SCB. We do.

[ozzieovaseas]

I am curious to know how foreigners living outside of Thailand can buy land and have it transfered to their name?

Can you elaborate more detail on this please?

Did I mention anything about foreigners??

My wife's clients are most often Thai nationals living outside the Kingdom.

But of course we also have foreign clients buying in their wife's or girlfriend's name.

Many of our clients also buy leasehold.

Or we set up a Limited company for the foreigner so he can control the land via his company.

hhmmm...what a unique form of advertising..

1.mention a bank to draw the attention of any farang who has a bank account here

2.create a story out of nothing

3.hope to lure rich farangs into using your services!! brilliant

got any new clints from tv then??

Edited November 18, 2009 by ozzieovaseas

[NOKIA6969]

Your wife is setting her clients up for a lot of trouble if they want to get the proceeds of any subsequent sales out of Thailand !

There is a process that must be adhered too exactly when transferring money into Thailand for property. There is a form that must go with the transfer stating the exact address of the property in question.

It is money laundering protection.

Its not a big deal to do.

You will find that any translation that has been done by your wife like that, will have big problems getting the cash out of Thailand. (Farangs only)

I am an agent in BKK, you can call me if you want any help.

02 939 8599 [email protected]

[figo88]

Krung Thai seems to have improved in many ways, but it's like all Thai banks, suddenly something pops up which takes each bank backwards a few paces.

I have one branch of KT near my condo which has changed unbelievably and is now very customer focused and everything is 'can do'!

On the other hand I have another branch very close to my office which has been changed to the new modern appearance but the service is awful. The focus is totally on the importance and status of the branch manager.

I went there recently hoping to very quickly transfer a payment to a Thai contractor who had completed some minor work on my house in another province, just 4,500Baht. I had all the relevant details of the contractors KT account but before we got anywhere I had to have an interview with the arrogant lady bank manager who wanted to know every detail of my PR Residence book and my work permit and my family situation. Before I spoke to her I was asked if I had a necktie in my bag, which I didn't.

Suddenly i was informed that the transaction was complete. I quickly indicated that I wanted to send a brief note with the transaction indicating who had sent the payment. It was as if I'd asked for the moon. I was quickly and strongly told that no such service existed with any bank anywhere in the world, and that my transcation was in fact a nuisance to the bank.

Win some, lose some.

Rather pretentious, condescending, and even rude.

Even rude? The woman is psychotic.

These types of people are often employed is petty positions of authority, where their particular psychosis works productively with the assigned task. Such as bouncer, border guard, nurse Ratchet http://en.wikipedia.org/wiki/Nurse_Ratched

In the case of a bank (manager position), there would seem to be little use for a person involved in customer relations to have the Nurse_Ratched persona.

But, in the Canadian banking scene we've got a bunch. Recently my branch manager who was most excellent was replaced with a new Ratshit one and a total nonsense scene appeared out of no-where. I recognized that future banking activity could easily be compromised & took immediate action in moving to another branch.

The McMurphy solution however impractical, is the one that got the Academy Award(s).

[xerostar]

By coincidence I used that analogy yesterday when describing my treatment in Oz - to another forum.

First experience was when a night-duty nurse got angry with me.

I was in for a "sleep study".

They placed electrodes all over my head, chest, toes, and stuck plastic tubes up my nostrils with plaster to keep everything in place. I was so uncomfortable, I could not get to sleep.

Nurse Ratched finally made me to take 2 sleeping pills.

The results of the study were inconclusive to say the least. (more costly than a night at the Hilton too!)

The second occasion (years later) was when I was admitted to an emergency ward with a suspected heart attack.

I had pesistent pains radiating down my left arm.

After exhaustive tests, x-rays, ecg monitor and medication they concluded my heart was fine.

The duty nurse (nurse Ratched) assigned to remove all the ecg leads approached me with a look of disdain, she said: "you won't be needing these anymore, will you?" as she grabbed all of the leads in one hand and literally ripped them off my chest with one crude swipe!

My skin was painful for a second, but my feelings of contempt, shock and surprise followed quickly.

&lt;deleted&gt; I thought - how can they allow such a psycho to work here in the main hospital RPH (Perth).

Sure I felt sorry for having wasted their precious time and resources but I was there under instructions from my GP

who made it clear that it was an emergency.

Off topic -

[MikeyIdea]

Always found Siam Commercial Bank to be the most customer friendly bank around here. My experience with Krung Thai is simple - avoid them