Thai Bank Suggestions...

[The Mask]

I have been using Bangkok Bank as they have a branch in London and had a big network of ATM machines in Chiang Mai. I have now relocated to Pattaya and have noticed that Siam Commercial has a stranglehold on the city - it seems every 7-eleven has a Siam ATM machine. Does anyone here know if any Thai banks apart from Bangkok Bank have a branch in the UK?.

Generally I have not been satisfied with the service in Bangkok Bank - Any suggestions of other banks would be greatly welcomed.

[aletta]

Used to be with Bangkok Bank but not impressed and very inflexible.Moved to Thai Military and could not be happier,a friendly more relaxed bunch and no trouble getting a loan (Not working).

[SeaVisionBurma]

I'm happy with Siam Commercial bank so far.

The account was easy to set up, got an atm card instantly, it is easy to transfer funds from my Oz account to my SCB account, and I've never had any trouble withdrawing money.

Next step is that I will sign up for their internet banking and see if it is any good.

[siamesekitty]

Siam Commercial Bank gets my vote as well

[Sunny Valentine]

Siam commercial (south Pattaya, Beach Road Branch) was the one i went some month ago, wanting to open an account in order to qualify for 1 Year O Visa extension (Thai wife, 40000o in Bank rule).

Was told in a rather rude way that I can't open an account there unless I have a One Year Visa extension ........

I said in my friendliest possible way "mai pen rai, khrup khun kaaaaap", and told my wife the story. She went there the next day and cleared her bank accounts .......

So, beware of SCB South Pattaya Beach road!

Sunny

[thohts]

I've opened two accounts at two different SCB branches on a smile and a passport alone. (They didn't even check my tourist visa).

Both times I deposited no more than 3,000 baht

[TokyoT]

Your bank selection may depend upon your visa status. Many banks branches will not allow you to open an account with only a tourist visa, and some will not allow you to open an account without a work permit. My advice if you have only a tourist visa is to walk down Sukumvit and start asking at the different branches until one allows you to open an account.

On the other hand if you have a work permit then you are pretty much free to pick from the many options, and choice should be based more on what you plan to use the account for. If you will only be transferring money into Thailand and not out then the first thing you should ask for when attempting to open an account is SWIFT code to allow you to transfer in funds.

If transferring funds into Thailand and then making local withdraws to cover daily/ monthly expenses then to not waist too much time picking a bank. It has been my experience that NONE of them will be able to give you the level of service that you are probably use to in the west. Furthermore the benefits of one bank over the other are very limited, and the interest rates from one bank to the next are typically insignificant in the long run. So the best bank to pick is probably either the branch closest to where you call home in Thailand, or the bank that has ATM’s in more of the places you roam than the other banks.

If you need the bank to provide more services the bank that I have heard the most positive feedback on is Siam Commercial Bank. Most (but not all) of the negative stories I have heard in regard to Siam Commercial Bank are related to not allowing someone to open an account without a work permit.

With all of that said if you only have a work permit, you have a specific bank you feel you just must bank with, and you have already been turned down by that bank – do not despair. Travel around a bit and give it a go at different branches of the same bank, or even go back to the same branch(es) in the afternoon that turned you down in the morning. Sometimes the person behind on the other side of the desk can make all the difference in the world.

[TokyoT]

Siam commercial (south Pattaya, Beach Road Branch) was the one i went some month ago, wanting to open an account in order to qualify for 1 Year O Visa extension (Thai wife, 40000o in Bank rule).

Was told in a rather rude way that I can't open an account there unless I have a One Year Visa extension ........

I said in my friendliest possible way "mai pen rai, khrup khun kaaaaap", and told my wife the story. She went there the next day and cleared her bank accounts .......

So, beware of SCB South Pattaya Beach road!

Sunny

<{POST_SNAPBACK}>

The one-year O Visa extension rules can leave people kind of in limbo. You have to keep in mind that the people who are making the banking rules and the people who are making the visa rules are not the same people, and that they do not really care what kind of rules the other guys are making.

Technically you are not allowed to open a new account in Thailand with out a work permit (rule from the guys making the banking rules), but at the same time you need an account with a bank in Thailand to transfer in the funds (400,000 Baht I think) to get that one year extension on your O type visa (from the guys making the visa rules). So now you are in a bit of a bind cannot get a bank account because you do not have (or for your basic purposes in Thailand desire) a work permit – yet in order to get a one-year extension on your visa you need a bank account.

Well for starters to keep things clean on the visa extension end of things I would advise you to use the account you transfer the 400,000 baht into for only that yearly transfer. You can draw down on the money thru the year, but to keep the records clean and easy only make that one transfer into the account. Open a separate account possibly even at another bank for your real banking needs.

Now you think I am crazy – I just told you that you can not open an account in Thailand without a work permit, and then followed that up by telling you to go ahead and open two accounts – Welcome to Thailand.

Not all branches will require you to have a work permit. So try as many different branches and as many different banks until you get the two accounts. Use the one with the bank/branch you like best for your real banking needs, and use the other account only for the funds transfer necessary for your visa extension. Yes this may require some leg work and may even require a few days of your time. Your best bet is to search out the banks/branches in the high tourist areas, and do not try at the head office of any of the banks. I have yet to hear of anyone without a work permit in the past year who was able to open a new account at the head office of any Thai bank – but I have heard several farang who were instructed by branch offices to go to the head office to open an account (waste of your time).

[Thaicoon]

I also have a acount with the Siam Commercial in Buriram, opened this account 7 years ago with a tourist visa in my passport, talking to other guys now and it is more difficult to open accounts, i have never had any problems with this bank, they are very freindly and helpfull, 100%.

[Ajarn]

The manager at my bank (Kaikorn) does not require a WP, and when I asked him last year why not, he replied that it has to do with the interest paid on deposit... Though there is no banking law requiring a WP to open an account, according to him, it makes less paperwork for the bank because they then don't have to deduct 15% from your earned interest as tax on your interest income and pay that to the State. I guess they figure someone working would definately be filing tax returns, where their interest income is better noted... It still seems like it would be better to only require a Thai Tax ID card, instead of a WP..

I've been thinking about opening an acount at SCB, too. I like the purple color they use.

[RBWilson]

Try applying for a Credit Card once you have your account well established with SCB. You will not get very far as a foreigner (with or without a WP).

[ThaiPauly]

I'm happy with Siam Commercial bank so far.

The account was easy to set up, got an atm card instantly, it is easy to transfer funds from my Oz account to my SCB account, and I've never had any trouble withdrawing money.

Next step is that I will sign up for their internet banking and see if it is any good.

<{POST_SNAPBACK}>

Good Luck I still can't get my Internet banking with SCB to work, though I do find them a very competant Bank.

Let me know if you get to register on-line without any problems.

Cheers

TP

[barryofthailand]

I opened a new account with SCB after having another account with Krung Thai. The service with Krung Thai is lousy, but the once a year money transfer comes in 24 hrsw. Scb says it takes them 7 days. I heard that there are only two banks that transfer money without having to wait in que. Bangkok, and Krung Thai. I will use my Krung Thai for money transfers and SCB for my Banking.

[Ajarn]

I opened a new account with SCB after having another account with Krung Thai. The service with Krung Thai is lousy, but the once a year money transfer comes in 24 hrsw. Scb says it takes them 7 days. I heard that there are only two banks that transfer money without having to wait in que. Bangkok, and Krung Thai. I will use my Krung Thai for money transfers and SCB for my Banking.

<{POST_SNAPBACK}>

Kasikorn, in regards to international transfers from the U.S., has been great for me. When I first started doing these regular transfers about 4 years ago, I called the main branch for some info... Max 550 baht fees, about 15 minutes to credit account after receiving... Never timed it, but never had any reason to doubt the 15 minutes claim. Always same day, right away.

[Sir Burr]

This only applies if you are remitting money from abroad to Thailand.

Each foreign bank has a partner bank in Thailand where they TT the money.

For Barclays Bank UK, their partner is Bangkok Bank. If I happened to bank with Siam Commercial Bank for instance, Barclays would first TT the funds to Bangkok Bank in Bangkok, which would then send the funds on to SCB. If you banked with Bangkok Bank, you would receive the money sooner.

Find out from the bank in your country which is their partner bank and then open an account with them.

I have found that which Thai bank you use is less important than the branch you use. You get good and Bad Bangkok bank branches and the same applies to other Thai banks. If you are not going to remit money from abroad, pick the most convenient.

[Ajarn]

This only applies if you are remitting money from abroad to Thailand.

Each foreign bank has a partner bank in Thailand where they TT the money.

For Barclays Bank UK, their partner is Bangkok Bank. If I happened to bank with Siam Commercial Bank for instance, Barclays would first TT the funds to Bangkok Bank in Bangkok, which would then send the funds on to SCB. If you banked with Bangkok Bank, you would receive the money sooner.

Find out from the bank in your country which is their partner bank and then open an account with them.

<{POST_SNAPBACK}>

I'm surprised to hear that, since SCB has it's own SWIFT code (SICOTHBK), meaning it should be able to receive any SWIFT transfer directly, it seems.

In my case, Citibank in the US uses NY Bank as an intermediary for Kasikorn Bank (KASIBKKTH) US banks use ABA codes

In either case, I believe SOP is for the funds to go to the Main Branch, where it is then distributed to the branches...

[aletta]

I have found that which Thai bank you use is less important than the branch you use

Good point and maybe best idea to go for a smaller rather than a large branch for a more personal service.

[davecj]

There use be a Thai Farmers bank in London,Uk,not sure if they have changed there name to Kasikorn.I didn't use it in the end as they wanted 30 pounds for a transfer to my account in Thailand,also said it would take up to 2weeks to be cleared and were going to give me the rate in the UK.

[Pattayatony]

Banks in Thailand are a bloody NIGHTMARE!!!!! This morning I went to SCB in Jomtien thats where my account is. I asked for a bank check or bank draft in US dollars but the reply was "No Have" I must go to SCB in South Pattaya. The reply there was now get this " I must have an offical letter from the company in the US saying that they require a bank draft from me". After some very rude coments from me they say its a new Govt rule from the bank of Thailand. Well I got one at last without any hassles from Bangkok Bank in Naklua. No wonder the economy is going down the S**t shoot.

[PeaceBlondie]

Nobody has mentioned the Bank of Ayudhya yet. I've only been with them for 10 months, but have no complaints. They didn't ask for WP at the first branch, in a province, because my boss brought me in there to get direct deposit. Then I opened another savings account at the branch around the corner here in CMai, and maybe they only asked for passport (not visa or work permit). Also, they might have referenced the data on my first account at the other branch.

Both branches have treated me respectfully and been helpful, even letting me jump the queue once (ajarn privilege, maybe?). When I deposited 40,000 baht this week, they asked if I wanted a fixed account so it would draw more interest - very thoughtful. He gave me the Swift code, too, Do all branches have the same code, just AYUDTHBK? Then I suppose that your account number shows the branch?

They don't complain when I go in to just change my 1,000 baht bills to smaller bills. The queue at either bank never took ten minutes. The only fee has been 20 baht to deposit a check from BUPA, and they paid me that tiny 0.75% interest.

Maybe somebody on this thread remarked that we shouldn't expect as good customer service here as in our home country. Ha! Unless you're in a small town or have over US$500,000 on deposit, you don't get much customer service. However, you can use the phone and internet. And if you get lucky, you can just call the local branch, ask for Fran, and she'll increase your daily withdrawl limit by recognizing your voice.

[Sophon]

This only applies if you are remitting money from abroad to Thailand.

Each foreign bank has a partner bank in Thailand where they TT the money.

For Barclays Bank UK, their partner is Bangkok Bank. If I happened to bank with Siam Commercial Bank for instance, Barclays would first TT the funds to Bangkok Bank in Bangkok, which would then send the funds on to SCB. If you banked with Bangkok Bank, you would receive the money sooner.

Find out from the bank in your country which is their partner bank and then open an account with them.

<{POST_SNAPBACK}>

I'm surprised to hear that, since SCB has it's own SWIFT code (SICOTHBK), meaning it should be able to receive any SWIFT transfer directly, it seems.

In my case, Citibank in the US uses NY Bank as an intermediary for Kasikorn Bank (KASIBKKTH) US banks use ABA codes

In either case, I believe SOP is for the funds to go to the Main Branch, where it is then distributed to the branches...

<{POST_SNAPBACK}>

International transfers doesn't work like that.

It's true that each (major) bank have a partner bank in Thailand, but that is only of consequense if the transfer is made in Baht. Unless account holding bank is a small bank, that are not on the SWIFT network themselves, a transfer would never be sent to one Thai bank to be forwarded to another.

What really happens is that sending bank will send a SWIFT message directly to account holding bank, informing about the transfer. In the SWIFT message they also inform account holding bank about where the transfer will be covered. If the transfer is in for instance USD, the transfer will always be covered in a U.S. Bank. If sending bank is a major bank as Citibank, receiving bank knows that the transfer will be covered according to the instructions, and will be able to credit the account immediately.

So when Citibank uses NY Bank as an "intermediary" it just means that the transfer is covered with NY Bank, not that NY Bank carry out the transfer.

How long a transfer takes is largely down to the procedures in both sending and receiving bank. If both ends are fully automated, all necessary informaion is included in the transfer order (and nobody makes mistakes), the transfer should be very quick.

Sophon

[Ajarn]

Both branches have treated me respectfully and been helpful, even letting me jump the queue once (ajarn privilege, maybe?). When I deposited 40,000 baht this week, they asked if I wanted a fixed account so it would draw more interest - very thoughtful. He gave me the Swift code, too, Do all branches have the same code, just AYUDTHBK? Then I suppose that your account number shows the branch?

Each bank has a unique SWIFT code for the main branch, which then distributes to your account via the branches, as I understand it... On my transfer requests from the States, I must list the local Thai branch name and address, too.

When I've been given special attention in banks, I usually get the impression it's more out of pity for the clueless farang. I still say thanks.

Refusing the special attention would likely re-label me as a foolish farang. When in Rome...

[aletta]

Get special attention as all the female cashiers want me to find them a handsome farang husband.No queue is too long to jump.

[Tywais]

I have been using Bangkok Bank as they have a branch in London and had a big network of ATM machines in Chiang Mai. I have now relocated to Pattaya and have noticed that Siam Commercial has a stranglehold on the city - it seems every 7-eleven has a Siam ATM machine. Does anyone here know if any Thai banks apart from Bangkok Bank have a branch in the UK?.

                    Generally I have not been satisfied with the service in Bangkok Bank - Any suggestions of other banks would be greatly welcomed.

Been using Bangkok Bank for 18 years. Opened it in Phuket with tourist visa (yes, I know the rules have changed). When I moved here some 12+ years ago opened an account at BBK in Chiangmai, transferred the remaining from the Phuket Branch received an ATM card and never any complications. Applied for internet banking (needed work permit for this) and received my account information in 2 weeks. Pay all my bills at the comfort of my home. Choosing BBK was from recomendation from a Thai business friend.

[The Mask]

The major problem i am having is that all the banks in Pattaya want a letter from immigration but in order to get that letter I have to provide immigration with a letter from my apartment building confirming I live there.

Of course getting an official letter from my apartment building in Pattaya means tracking down the manager who floats between the various buildings. It amazes me that they make it so difficult for foreigners especially in Pattaya considering its farangs who keep it going - even the fact that I have a 1 year visa, company papers and an almost fluent grasp on the language dosent help.

Any suggestions?.

Thanks

I have been using Bangkok Bank as they have a branch in London and had a big network of ATM machines in Chiang Mai. I have now relocated to Pattaya and have noticed that Siam Commercial has a stranglehold on the city - it seems every 7-eleven has a Siam ATM machine. Does anyone here know if any Thai banks apart from Bangkok Bank have a branch in the UK?.

                     Generally I have not been satisfied with the service in Bangkok Bank - Any suggestions of other banks would be greatly welcomed.

<{POST_SNAPBACK}>

Been using Bangkok Bank for 18 years. Opened it in Phuket with tourist visa (yes, I know the rules have changed). When I moved here some 12+ years ago opened an account at BBK in Chiangmai, transferred the remaining from the Phuket Branch received an ATM card and never any complications. Applied for internet banking (needed work permit for this) and received my account information in 2 weeks. Pay all my bills at the comfort of my home. Choosing BBK was from recomendation from a Thai business friend.

<{POST_SNAPBACK}>

[Gary A]

I use Citibank in the USA. I use Siam Commercial Bank here in Thailand. I originally chose Citibank because they have Citibank in Thailand too. As it turned out that means NOTHING. Citibank USA and Citibank Thailand may as well be on different planets. You can't link accounts or even check balances.

That said I wire money from Citibank USA to Siam Commercial once or twice a year. Citibank charges a flat $30 US fee and the Siam fee is very low. I get very near the exchange rate that is quoted on my Yahoo homepage daily. The money is always in Siam Commercial Bank the NEXT day. If I use my Citibank ATM card there is a flat $1.50 fee per transaction. The Siam ATM is free within Chonburi province and 20 baht outside the province.

I opened my Siam account at the Beach Road Pattaya branch. I explained to them that I needed to open the account to get my retirement visa. All I needed was a Thai address to open the account. I had my account opened and an ATM card on the spot. I'm quite happy with Siam Commercial Bank.

[The Mask]

Thanks for the tip Blondie, I went into Ayudhya today in Pattaya and opened an account no problem with just my passport. I was also amazed to see that they have a ticketing system for customer service, in every other bank people just fight for the seats.

Nobody has mentioned the Bank of Ayudhya yet.  I've only been with them for 10 months, but have no complaints.  They didn't ask for WP at the first branch, in a province, because my boss brought me in there to get direct deposit.  Then I opened another savings account at the branch around the corner here in CMai, and maybe they only asked for passport (not visa or work permit).  Also, they might have referenced the data on my first account at the other branch.

Both branches have treated me respectfully and been helpful, even letting me jump the queue once (ajarn privilege, maybe?).  When I deposited 40,000 baht this week, they asked if I wanted a fixed account so it would draw more interest - very thoughtful.  He gave me the Swift code, too,  Do all branches have the same code, just AYUDTHBK?  Then I suppose that your account number shows the branch?

They don't complain when I go in to just change my 1,000 baht bills to smaller bills.  The queue at either bank never took ten minutes.  The only fee has been 20 baht to deposit a check from BUPA, and they paid me that tiny 0.75% interest.

Maybe somebody on this thread remarked that we shouldn't expect as good customer service here as in our home country.  Ha!  Unless you're in a small town or have over US$500,000 on deposit, you don't get much customer service.  However, you can use the phone and internet.  And if you get lucky, you can just call the local branch, ask for Fran, and she'll increase your daily withdrawl limit by recognizing your voice.

<{POST_SNAPBACK}>

[RDN]

... I was also amazed to see that they have a ticketing system for customer service, in every other bank people just fight for the seats....

<{POST_SNAPBACK}>

Ticketing system in Krung Thai bank for more than 3 years.

If I've told you once, I've told you a million times: don't exaggerate!

[JimsKnight]

Nobody has mentioned the Bank of Ayudhya yet.  I've only been with them for 10 months, but have no complaints.  They didn't ask for WP at the first branch, in a province, because my boss brought me in there to get direct deposit.  Then I opened another savings account at the branch around the corner here in CMai, and maybe they only asked for passport (not visa or work permit).  Also, they might have referenced the data on my first account at the other branch.

<{POST_SNAPBACK}>

Well I guess you're with the decent branch of Bank of Ayudhya!

Opened an account with them and found that the funds (40000) were ok for the first 6 months then almost inexplicable the cheeky scamps started ripping out 100 baht per month bank charges!! Questioned this and get the old "Bank charges" line! Got charged 70 baht for deposits and zero interest.

Overall not impressed by them, the account now is empty and a new bank is being sought!

Another bug bear of BOA is they are few in number compared with other banks.

Bangkok bank is said to be reputable with no red tape bullsht.

[SWEDE CHIANG RAI]

Was told in a rather rude way that I can't open an account there unless I have a One Year Visa extension ........

Feel for you there. I went into Siam Commercial in Chiang Rai to open an account and was told in a VERY rude way by an office girl that I had to go to Bangkok to open an account.

Managers sitting about all over the place. No attempt to even ask what my business was, or how much money I wanted to transfer to the account. Rather unCommercial behavious.