Bangkok Bank Frequently Asked Questions

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http://www.bangkokbank.com/Bangkok%20Bank/...uestions.aspx#3

1. Can I access my account from overseas?
   
2. How do I check my account balance from overseas?
   
3. How do I open an account if I'm not a Thai resident?
   
4. Is there an account that allows me to regularly transfer money overseas or back into Thailand?
   
5. How do I transfer funds to my Bangkok Bank account from overseas?
   
6. How do I transfer funds overseas from my Bangkok Bank account?
   
7. Is it possible to open an account that requires two signatories?
   
8. As a foreigner, can I get a home loan through my spouse who is a resident of Thailand?
   
9. I am a tourist and want to deposit and withdraw cash while I am traveling in Thailand. Can I open an account at Bangkok Bank?
   
10. If I am in Thailand as a tourist, can I use Bualaung iBanking or Bualuang Phone?
    
11. I am a foreign investor and would like to send and receive funds to and from my other bank accounts overseas. What type of account can I open?
    
12. Where can I open an account?
    
13. How can I find out Bangkok Bank's deposit interest rates?
    
14. My spouse is a Thai national and I am a foreign national. Can we open a joint account?
    
15. Can I apply for Bualuang iBanking, your online banking service?
    
16. Can I open a deposit account online?
    
17. Can I open an account from my home country?
    

1. Can I access my account from overseas?
   There are a number of ways you can access your Bangkok Bank account from overseas.
   Withdrawals using Bualuang Premier or Be1st cards:
   You can withdraw money from your Bangkok Bank account from overseas using your Bualuang Premier ATM card or Be1st debit card at ATMs that display the PLUS or VISA symbol. There are more than one million PLUS-linked ATMs in 170 countries worldwide. Bualuang ATM cards, however, cannot be used overseas.
   The maximum withdrawal per transaction depends on the limit of the ATM you are using and the withdrawal limits that apply to your card. Transaction fees also apply to withdrawals made overseas.
   When using your Bualuang Premier or Be1st cards to withdraw cash you will be charged an international cash withdrawal fee of Bt 100.
   Credit card cash advances:
   You can use your Bangkok Bank credit card to make a cash advance overseas. Transaction fees apply and interest is charged from the day you make the transaction.
   Bualuang Phone:
   You can use your Be1st debit, Bualuang Premier ATM or Bualuang ATM cards to access Bualuang Phone to make funds transfers, bill payments, and inquiries. To call Bualuang Phone from abroad, dial +66-2645-5555, international fee charges will apply. Your PIN number will be required for authentication.
   Bualuang iBanking:
   If you are registered with Bangkok Bank's internet banking service, Bualuang iBanking, you can access your accounts on the internet to make funds transfers, bill payments, and inquiries.
   
2. How do I check my account balance from overseas?
   If you are registered with Bualuang iBanking, you can check your account balance and make funds transfers, bill payments and inquiries online from overseas.
   Alternatively you can call us on Bualuang Phone +66-2645-5555. Your PIN number will be required for authentication.
   
3. How do I open an account if I'm not a Thai resident?
   Foreigners with a long stay visa, work permit or even a tourist visa can open a savings account with Bangkok Bank at any of our branches nationwide.
   To open a savings account at any one of our branches, you will need to bring your passport or work permit.
   If you're on a long stay visa or tourist visa, then in addition to your passport you will need to bring one of the following letters:
   • A letter of recommendation from a reputable company, an embassy or an international organization located in Thailand, or
     
   • A letter of recommendation from your bank abroad. This must be a bank which is acceptable to Bangkok Bank and sent to Bangkok Bank via SWIFT*, or
     
   • A letter of recommendation from a person acceptable to Bangkok Bank such as an existing customer of Bangkok Bank.
     
     
     

With a saving account, you will also be able to use a Be1st debit card or Bualuang ATM card.

* SWIFT is a worldwide financial messaging network used by banks and other financial institutions.

[*]Is there an account that allows me to regularly transfer money overseas or back into Thailand?

All savings accounts can be used to send and receive funds from abroad but Bangkok Bank has two accounts that are particularly useful for transferring funds to and from Thailand.

Non Resident Baht Account:

If you receive funds from abroad that will be used for investment purposes or which you may wish to repatriate in the future, then a Non-Resident Baht Account is the most suitable account to use.

Bangkok Bank offers Non-Resident Baht Accounts to individuals and to companies registered in Thailand and overseas. The benefit of a Non-Resident Baht Account is that the source of all funds and the purpose of each deposit or withdrawal are recorded according to the Bank of Thailand's regulations and the receipts provided by Bangkok Bank can be used as evidence of international funds transfers. This is important when funds are for investment purposes and are expected to be repatriated at a later stage.

The disadvantage is that, due to the Bank of Thailand reporting requirements, a Non-Resident Baht Account is largely manually operated and is not accessible through ATMs or Bangkok Bank's internet banking service Bualuang iBanking. This means this type of account is not very convenient for day-to-day banking. In addition, a Non-Resident Baht Account can only be opened and operated from our Head Office on Silom Road in Bangkok.

To open a Non-Resident Baht account for an individual, you will need to show evidence of the source of funds and your passport and work permit. If you don't have a work permit, you will need to bring either a letter of recommendation from a reputable company, an embassy or an international organization located in Thailand; or a letter of recommendation from your bank abroad (this must be a bank which is acceptable to Bangkok Bank and sent to us via the SWIFT financial messaging network); or a letter of recommendation from a person acceptable to Bangkok Bank, such as an existing customer in good standing.

Foreign Currency Deposit Account:

If you wish to hold your funds in foreign currencies, then another suitable option is a foreign currency account that will allow you to take advantage of exchange rate fluctuations and withdraw, deposit or transfer funds without converting them into Thai Baht.

Bangkok Bank offers foreign currency deposit accounts in 13 currencies: USD, EUR, GBP, HKD, SGD, CHF, AUD, CAD, JPY, DKK, NOK, SEK and NZD. The minimum deposit is USD 5,000 or equivalent and the fee for USD cash deposits or withdrawals is 1 percent of the transaction amount, or a minimum fee of Bt500. A minimum daily balance of USD 250 is required for current and savings accounts, and USD 500 for fixed accounts. This account is available at all Bangkok Bank branches with remittance services.

Click here to find out about the documents required to open these two accounts.

Please note that any transfer of more than US$20,000 must be notified to the Bank of Thailand and transfers of more than Bt2 million must be notified to the Anti-Money-Laundering Office. Bangkok Bank will require you to complete some forms so that we can process these notifications on your behalf.

[*]How do I transfer funds to my Bangkok Bank account from overseas?

If you have an overseas bank account and want to transfer money into your Bangkok Bank account in Thailand, then you need to contact your overseas bank and provide them with:

• Name of the bank (Bangkok Bank)
  
• Full name of the account
  
• Your account number
  
• The name of the branch where your Bangkok Bank account is held.
  
• Bangkok Bank's SWIFT* code: BKKBTHBK
  

Please note that any transfer of more than USD 20,000 must be notified to the Bank of Thailand and transfers of more than Bt2 million must be notified to the Anti-Money-Laundering Office. Bangkok Bank will require you to complete some forms so that it can process these notifications on your behalf.

* SWIFT is a worldwide financial messaging network used by banks and other financial institutions

[*]How do I transfer funds overseas from my Bangkok Bank account?

There are a number of ways you can transfer funds overseas from your Bangkok Bank account.

Bualuang iBanking:

If you are in Thailand, the most convenient way to transfer money overseas is by using Bualuang iBanking, our online banking service. The benefit of this service is that once it has been set up you will be able to make funds transfers online at your own convenience without having to complete any further documentation.

Funds can be transferred overseas via Bualuang iBanking for the following purposes:

• Expatriates repatriating income: the maximum amount of income that an expatriate can repatriate overseas in a year cannot exceed their yearly earnings, less tax and living expenses in Thailand. A letter from your employer is required.
  
• Sending money to relatives living overseas: you may transfer up to USD 1 million overseas to support relatives who are permanent residents in a foreign country. To do this, you will need to supply evidence confirming that the recipient is a permanent resident in a foreign country.
  
• Paying for education overseas: if you are transferring money to cover the educational expenses of someone studying abroad, you will need to provide a letter from the educational institution or government agency outlining the costs involved. The amount that can be transferred will be based on this.
  
  

To use Bualuang iBanking to transfer funds overseas, you will first need to visit your branch to register for Bualuang iBanking and register the offshore accounts you wish to transfer funds to. After this is completed, you will be able to transfer funds conveniently online.

Foreign remittance service:

Alternatively, you can transfer money overseas by visiting any one of our branches that has a foreign remittance service.

Any transfer of more than USD 20,000 must be notified to the Bank of Thailand and transfers of more than Bt2 million must be notified to the Anti-Money-Laundering Office. Bangkok Bank will require you to complete some forms so that we can process these notifications on your behalf.

Already overseas:

If you are already overseas, the easiest way to transfer money is to use Bualuang iBanking, or for smaller sums, to use your Be1st or Bualuang Premier ATM card to withdraw cash from an ATM.

If you are already overseas, have not registered with Bualuang iBanking and need to transfer a large sum of money from your Bangkok Bank account that would be impractical to withdraw via an ATM, then you will need to authorize a trusted person in Thailand to carry out the transaction for you at the branch where you opened your Bangkok Bank account.

To do this, please contact the branch and ask them to send you a funds transfer form by mail to your address overseas. You should complete this form and send it along with a letter of power of attorney and signed copies of your passport to the trusted person, authorizing them to make the funds transfer at the Bangkok Bank branch.

[*]Is it possible to open an account that requires two or more signatories?

Customers can open a savings, current or fixed account that requires two or more signatories, this means the account requires all the nominated signatories to approve the withdrawal of money.

This account is suitable for organizations such as sports clubs, foundations, partnership ventures, or even married couples. The account will be held in the name of one person.

[*]As a foreigner, can I get a home loan through my spouse who is a resident of Thailand?

If your spouse is a resident of Thailand but does not have sufficient funds for a home loan, your spouse can take out a housing loan on condition that he/she is the sole owner of the property. You can be the guarantor of the loan. However, you will be liable if repayments are not made.

[*]I am a tourist and want to deposit and withdraw cash while I am traveling in Thailand. Can I open an account at Bangkok Bank?

Yes, you can open a 'Resident Baht Account' and make transactions via any Bangkok Bank's counter or you can apply for a Be1st debit card to use within Thailand. This account provides you with access to your funds from any ATM machine in the country however, you will not be able to access your funds from overseas.

[*]If I am in Thailand as a tourist, can I use Bualaung iBanking or Bualuang Phone?

No, in accordance with Bank of Thailand's regulations you must be a resident of Thailand or have a current work permit.

[*]I am a foreign investor and would like to send and receive funds to and from my other bank accounts overseas. What type of account can I open?

You can open a Non-Resident Baht Account at our Head Office on Silom Road. However, according to the Bank of Thailand's regulations, you have to declare the source and the use of money in your account. Each transaction must also be performed at the counter of Bangkok Bank's Head Office only.

[*]Where can I open an account?

At any Bangkok Bank branch near you unless you would like to open a Non-Resident Baht Account which can be done at our Head Office, 333 Silom Road, Bangkok.

[*]How can I find out Bangkok Bank's deposit interest rates?

You can click here to check the latest rates and bookmark the page for quick and easy reference.

[*]My spouse is a Thai national and I am a foreign national. Can we open a joint account?

Yes, you can go to any Bangkok Bank branch and open a resident baht joint account.

[*]Can I apply for Bualuang iBanking, your online banking service?

You can apply for Bualuang iBanking services if you hold a savings or current account and have a current work visa for Thailand. To apply, bring your passport and your work permit or a Certificate of Resident to any Bangkok Bank branch.

[*]Can I open a deposit account online?

No, not at this time.

[*]Can I open an account from my home country?

No, all Bangkok Bank accounts must be opened here in Thailand at one of our 900 branches.