Pattaya Police Raid Poker Gambling Ring, Arrest 9 Foreign Players

[12DrinkMore]

Well, well, well, I've just been looking over the Bangkok Bank website

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/Opening%20an%20account%20new.aspx

Even if you are only visiting Thailand for a relatively short period of time, you can open asavings account and get a debit card to use for shopping and ATM withdrawals. All you will need to provide is your passport and one other official identification document – for example, your driver’s license or a reference letter from your embassy, your home bank or a person acceptable to the bank. (More details below.)

You will also need to provide evidence of your address in Thailand as well as your regular address in your home country.

And on this page

If you are on a non-immigrant visa (except non-immigrant LA and B visa) or tourist visa, then you will need to bring your passport and ONE of the following documents:

- Your driver’s license containing your photo and address.

So tourists are back in the Thai Banking Business, or maybe not? When did this change?

Anybody experienced a problem opening an account based on these "New Rules"?

Last time I opened an account based on my retirement visa, it was "You need a work permit" which was solved by the manager calling head office.

[Naam]

"So tourists are back in the Thai Banking Business, or maybe not? When did this change?"

i mentioned that more than two years ago and named Siam Commercial as well as Kasikorn. perhaps it is worthwhile to mention that we opened in nov 2004 an account with SCB when both (my wife and me) were in Thailand on tourist visas. all what we had to provide were our passports, a rental contract and 100k Baht cash. opening the account and issuing two debit/ATM cards took 15-20 minutes.

Edited June 18, 2010 by Naam

[PattayaParent]

Better print out the pages with the links because I bet if you walk into any BB they will tell you "need work permit"

[chiangmaibruce]

I think probably a key factor here is that the bangkok bank has established a dedicated "expat banking team" in recognition of the significance of the financial clout of expats and regular visitors. This team includes a kiwi with senior management level banking experience in that country. This is definitely a step in the right direction (in terms of at least someone trying to get their act together) & I am not aware of any of the other Thai banks having such a team.

Edited June 19, 2010 by chiangmaibruce

[Pib]

In the upper right hand corner of below Bangkok Bank web page there is a link where you can download an "Expat Banking Booklet" in English (pdf format) that provides a ton of good information about opening accounts, credit/debit cards, transferring funds, internet banking, etc., in Thailand. Even though it's a Bangkok Bank booklet, are lot of it is general in nature and may apply to policies/rules at other Thai banks. Very good booklet.

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/default.aspx

[12DrinkMore]

In the upper right hand corner of below Bangkok Bank web page there is a link where you can download an "Expat Banking Booklet" in English (pdf format) that provides a ton of good information about opening accounts, credit/debit cards, transferring funds, internet banking, etc., in Thailand. Even though it's a Bangkok Bank booklet, are lot of it is general in nature and may apply to policies/rules at other Thai banks. Very good booklet.

http://www.bangkokba...es/default.aspx

Yep, I picked up the physical version some while ago and was impressed, didn't realise that it was online.

But I am still interested in whether the web version reflects the local polices. I'm going to open a USD deposit account here, as it seems to be the cheapest way of transferring USD's across to Thailand and having them in my fists. 0.25% commission incoming and then 1% withdrawing the paper Greenbacks. I'll ask about the tourist account opening as well.

[JimGant]

I'm going to open a USD deposit account here, as it seems to be the cheapest way of transferring USD's across to Thailand

How do you figure? Sending dollars to Thailand costs the same, whether or not they're converted to baht in Thailand and placed in your baht account; or remain as dollars and are placed in your foreign deposit account.

But, in the latter situation, assuming you plan to eventually change those dollars into baht in order to exist in Thailand, the exchange rate will not be the more favorable TT buying rate you'd get if you sent dollars to your baht account, but, instead, the less favorable bank note buying rate. For 18 June, this rate is 32.01 vice 32.26 for the TT rate.

What am I missing?

[12DrinkMore]

I'm going to open a USD deposit account here, as it seems to be the cheapest way of transferring USD's across to Thailand

How do you figure? Sending dollars to Thailand costs the same, whether or not they're converted to baht in Thailand and placed in your baht account; or remain as dollars and are placed in your foreign deposit account.

But, in the latter situation, assuming you plan to eventually change those dollars into baht in order to exist in Thailand, the exchange rate will not be the more favorable TT buying rate you'd get if you sent dollars to your baht account, but, instead, the less favorable bank note buying rate. For 18 June, this rate is 32.01 vice 32.26 for the TT rate.

What am I missing?

Maybe my case is a bit special.

I need to buy some physical USD's.

If I transfer USD's in an account outside of Thailand to a THB account here and then buy physical USD's with the THB's I loose out twice on the exchange rate.

Transferring USD's to a Thai USD account and withdrawing them as paper USD's, according to the Bangkok Bank, will cost me 1.25%. More than what I want to pay, but the dam_n banks always win.