Siam Commercial Bank

[edd]

Siam commercial bank

Be very careful

I have had dealings with Siam Commercial Bank for 7 or 8 years and thought that they were ok but of late I have had to change my opinion.

I have just bought a new house in Pattaya and I wanted to insure it for building and contents cover.

I went into Siam Commercial Bank inside Big C on Shukhumvit road.

I saw the manager and she recommended a policy to my wife and I (my wife is Thai so there was no language problems).

I asked 3 times very deliberately if the policy was for both Buildings and Contents.

She, the manager assured us that it was.

We paid in cash and 1 week later the policy, all in Thai, arrived.

All looked well until 1 month later a friend of ours looked at the policy and informed us that we had NO cover for the building.

It was a contents only policy.

When I returned to the Bank the manager’s attitude was less than helpful.

She said the only thing that we could do is to buy another policy to cover the buildings this would have more than doubled the cost.

I told her to cancel the policy and give us a refund.

She told us that we would only get back a proportion of the money because we have been covered for a month until the banks miss selling had become evident.

We now had to pay for there incompetents.

They told us that they could not return our money and that we had to wait 1 week for a cheque from head office.

It’s now been 1 month and despite going into see the manager and ringing the banks public relations manager in Bangkok we still have not got a refund.

It makes you wonder if Siam Commercial bank is running short of money,

Perhaps because of its incompetent managers.

If you have any dealings with them be very careful.

[zzaa09]

I surely wouldn't concern myself with {especially} SC and supposed stability, as this financial institution is solidly special - it harbours a very close relationship with a certain family. As to any misgivings towards any and every banking system, it is always wise not to look up to banks as your friends or neighbors - because they're not. The banking systems, by their very nature, are corrupt and criminal organisations that have most of populations under their control. It's best not to to business with them at all. The illusional and fanciful ideals that there is wealth, is nothing but imaginary. They'll always promote this and we will always accept. Banking and financial systems, at large, are the primary reasons why the world is so f***ed up. Not real. Not true. This very simple theory might seem extreme to most, but truth is usually difficult for most to grasp....as we logically will consider the systems of establish full of goodness and well-intended strategies offering the naive public nothing else but fantasy. So in turn, we know nothing else. 'Tis wonder if anyone would ever be able to break away and fashion a life of independence and self-sufficiency, without the overlording of a model created for suppression, control, and dependency. A Gandhi-esque approach might suffice.

[imaneggspurt]

Slightly off topic ,but, i went to the box in foodland today to draw my money by uk debit card ( as i do at least 3 times a week ) and was told by a new face "go atm ".i replied i have a daily limit at the atm but with this card and my passport i can draw up to your limit, she said "cannot ". i said i can and produced a receipt i got there 2 days ago for 50k,,she still says cannot, go atm, im getting pissed off by now and say,. ( normally ) look, i come here nearly every day, you are wrong, she then just ignores me, then another guy comes up and asks for 20k, she says" atm " again, ,we look at each other and are baffled,i ask " your machine have problem " ? no she replies, go atm, talk about thick, how do these illiterate idiots get a job at a bank ?.i find it actually quite frightening,beware as this poster says, gypsys and theives can be anywhere here,.

[thrilled]

I've read where other people that have had the same problems.I believe it's to much information for some people to absorb.

[rgs2001uk]

Slightly off topic ,but, i went to the box in foodland today to draw my money by uk debit card ( as i do at least 3 times a week ) and was told by a new face "go atm ".i replied i have a daily limit at the atm but with this card and my passport i can draw up to your limit, she said "cannot ". i said i can and produced a receipt i got there 2 days ago for 50k,,she still says cannot, go atm, im getting pissed off by now and say,. ( normally ) look, i come here nearly every day, you are wrong, she then just ignores me, then another guy comes up and asks for 20k, she says" atm " again, ,we look at each other and are baffled,i ask " your machine have problem " ? no she replies, go atm, talk about thick, how do these illiterate idiots get a job at a bank ?.i find it actually quite frightening,beware as this poster says, gypsys and theives can be anywhere here,.

"how do these illiterate idiots get a job at a bank ?"

You dont actually think they are there due to qualifications, knowledge and experience do you?

These idiots are there because of their surname, daddy managed to pull a few strings because no one else would have them, in Thai its called boon kun.

Believe me there is at least one bank the wife and I refuse to use, because of its policy in hiring these incompetants, old khun yings who should have been put out to pasture years ago, I believe in the west it would be called, care in the community, these idiots should not be let out of the house without a supervision order.

[selftaopath]

I can empathize with you. It is also my experience to have various Thai "business" refuse refunds etc. They seem unscrupulous in their ways and certainly not foreigner friendly. Re: This bank running out of money. Do you know who owns this bank? I think Lack of Sanctions (LOS) ought to receive all the international acclaim it deserves. Foreigner beware.

[H2oDunc]

Last year the owner of the villa I am in came over for a visit. He has an account with this bank. He went into the branch to set up internet banking so he can transfer money for repairs and upkeep. Whilst doing this the manager asked to see him. Thinking he wanted to try and sell him something he went to his office. The manager then asked if the owner could lend him 10 million baht for a month or two as they were having a small cash flow problem. Only in Thailand would the bank ask you for a loan

[bifftastic]

gypsys and theives can be anywhere here,.

where did gyppos get involved in your banking?

[geriatrickid]

The OP is about the sale of insurance through a bank branch. Think about it for a minute. Is the bank manager qualified act as an insurance intermediary? This is why several jurisdictions forbid "bancassurance". It was a concept that originated in Europe and although it made sense at the time, regulators realized there were serious deficiencies and conflicts of interests and itroduced regulations that do not exist in Thailand. As well, the banks themselves have realized that the commissions earned through branch sales by tellers wasn't worth the errors and omissions that were generated. That is why many of the countries that permit it now require trained staff to sell the products and the banks themselves restrict themselves to no brainers like mortgage and life insurance related products.

Bank managers are there to manage a branch. Unless they have specific training and an education in the products they are selling, one shouldn't purchase financial services like insurance or mutal funds from these people.

[antony77]

I surely wouldn't concern myself with {especially} SC and supposed stability, as this financial institution is solidly special - it harbours a very close relationship with a certain family. As to any misgivings towards any and every banking system, it is always wise not to look up to banks as your friends or neighbors - because they're not. The banking systems, by their very nature, are corrupt and criminal organisations that have most of populations under their control. It's best not to to business with them at all. The illusional and fanciful ideals that there is wealth, is nothing but imaginary. They'll always promote this and we will always accept. Banking and financial systems, at large, are the primary reasons why the world is so f***ed up. Not real. Not true. This very simple theory might seem extreme to most, but truth is usually difficult for most to grasp....as we logically will consider the systems of establish full of goodness and well-intended strategies offering the naive public nothing else but fantasy. So in turn, we know nothing else. 'Tis wonder if anyone would ever be able to break away and fashion a life of independence and self-sufficiency, without the overlording of a model created for suppression, control, and dependency. A Gandhi-esque approach might suffice.

all banks are the same everywhere, ANZ rips all thier customers off. Ask them to transfer money from Australia to here and without your permission they will send it in Thai baht and charge 5% for changing it. I tried to take legal action asking why they did not send my money here in A$ but they wangled out of it. HSBC (Singapore) cashed checks that were so obviously forged by my accountant and so on and so on. .

[AnnyLing]

Last year the owner of the villa I am in came over for a visit. He has an account with this bank. He went into the branch to set up internet banking so he can transfer money for repairs and upkeep. Whilst doing this the manager asked to see him. Thinking he wanted to try and sell him something he went to his office. The manager then asked if the owner could lend him 10 million baht for a month or two as they were having a small cash flow problem. Only in Thailand would the bank ask you for a loan

What was the name of the Bar where this story was told ? And were there any aliens who ordered strange drinks ?

[xen]

You also have to watch them in the bank when you are opening an account they don't attempt to slip a life insurance policy into the deal . I like it when they realise they will not be getting that commision .

Edited July 29, 2010 by xen

[shaunoro]

Don't touch them with a barge pole.

I was assured mortgage on house was in wife's name.

No in a bank employees name.

Now getting repoed as said bank employee is buying a condo block in Pattaya.

Packing today and back to rental.

[AnnyLing]

Don't touch them with a barge pole.

I was assured mortgage on house was in wife's name.

No in a bank employees name.

Now getting repoed as said bank employee is buying a condo block in Pattaya.

Packing today and back to rental.

Wife cant read ? Tough luck !

[bails]

I am surprised that people who are considering buying insurance do not insist that the policy documents are written in English. Aia were trying to sell me a policy and i just explained to them that i wouldn,t be signing anything i could not read or understand. As they wanted my business they were happy to comply and they returned 5 days later with the policy written in english. No problems whatsoever!!!

[topt]

I am in the pprocess of trying to arrange house insurance in Pattaya and having had a quote from AA Brokers (AXA) which I felt was a little steep inquired at SCB who I bank with. I had an equally frustrating experiece with one of their smaller branches but even going to one of the two main branches (Beach Road) they still could not provide me with an English translation of the policy.

However I did find their customer service phone line helpful and I know have an English Translation under the Thai original - and it only took tham about a week to send. I still need to validate this as it looks to me like some is missing but at least they have tried!

Interesting they exclude foundations completely from all the insurance policies I have seen?

[AmericanInExile]

"We now had to pay for there [sic] incompetents [sic]."

Or your wife's. Can she really read Thai or did she just tell you that before you married her so you would think she was educated.

[phil2]

Slightly off topic ,but, i went to the box in foodland today to draw my money by uk debit card ( as i do at least 3 times a week ) and was told by a new face "go atm ".i replied i have a daily limit at the atm but with this card and my passport i can draw up to your limit, she said "cannot ". i said i can and produced a receipt i got there 2 days ago for 50k,,she still says cannot, go atm, im getting pissed off by now and say,. ( normally ) look, i come here nearly every day, you are wrong, she then just ignores me, then another guy comes up and asks for 20k, she says" atm " again, ,we look at each other and are baffled,i ask " your machine have problem " ? no she replies, go atm, talk about thick, how do these illiterate idiots get a job at a bank ?.i find it actually quite frightening,beware as this poster says, gypsys and theives can be anywhere here,.

You should go and see the lot at their Surawongse branch.

[phil2]

"We now had to pay for there [sic] incompetents [sic]."

Or your wife's. Can she really read Thai or did she just tell you that before you married her so you would think she was educated.

Sometimes I wonder if my wife ever saw the inside of a classroom. I think Thais trust those in authority and believe they will not lie to them.

The OP should go to the bank and ask the manager to call the head office while he's there and talk to whoever answers the phone. He'll be surprise to find out that she didn't forward the case to Bangkok.

Good luck.

Edited July 29, 2010 by phil2

[edd]

"We now had to pay for there [sic] incompetents [sic]."

Or your wife's. Can she really read Thai or did she just tell you that before you married her so you would think she was educated.

Yes she can read Thai, I know she has only basic reading ability but technical Thai is beyond her.

And yes, I knew this 22 years ago when we married.

But she can asses someone’s character in a second especially when they make uncalled-for remarks.

[somtampet]

Slightly off topic ,but, i went to the box in foodland today to draw my money by uk debit card ( as i do at least 3 times a week ) and was told by a new face "go atm ".i replied i have a daily limit at the atm but with this card and my passport i can draw up to your limit, she said "cannot ". i said i can and produced a receipt i got there 2 days ago for 50k,,she still says cannot, go atm, im getting pissed off by now and say,. ( normally ) look, i come here nearly every day, you are wrong, she then just ignores me, then another guy comes up and asks for 20k, she says" atm " again, ,we look at each other and are baffled,i ask " your machine have problem " ? no she replies, go atm, talk about thick, how do these illiterate idiots get a job at a bank ?.i find it actually quite frightening,beware as this poster says, gypsys and theives can be anywhere here,.

The reason they are there is because the university system is a scam and the students are not educated up to standard.The teachers are useless too,and give out degrees willynilly

"how do these illiterate idiots get a job at a bank ?"

You dont actually think they are there due to qualifications, knowledge and experience do you?

These idiots are there because of their surname, daddy managed to pull a few strings because no one else would have them, in Thai its called boon kun.

Believe me there is at least one bank the wife and I refuse to use, because of its policy in hiring these incompetants, old khun yings who should have been put out to pasture years ago, I believe in the west it would be called, care in the community, these idiots should not be let out of the house without a supervision order.

[bangsaenguy]

Been dealing with SCB for 15 years and have nothing but praise for them.

[kudroz]

I think Thais trust those in authority and believe they will not lie to them.

[...]

The OP should go to the bank and ask the manager to call the head office while he's there and talk to whoever answers the phone. He'll be surprise to find out that she didn't forward the case to Bangkok.

I wholeheartedly agree with what you're saying. In my four years here I have experienced the same. My wife has a hard time challenging or contradict others when they have a "Manager" title or are older than her. This became a serious issue as I'm running an IT business here and have to deal on a regular basis with banks, government officials and other "players" where the conversation has to be in Thai.

My solution to this is to never let my wife deal with them but instead ask her to act as a translator. That means that she cannot answer any questions or anything whatsoever - she is only there to translate. My wife also sits in a position where she looks at me to force the "manager" to look at me when he speaks. I also overdress and act like I'm worth a billion bucks - and it works every time. See, I hate doing this... and it took me a few years to come to realize and accept this, but in Thailand - the respect you will get is proportional to how well off and connected you seem to be. It's a big peacock game based on their primitive culture and customs.

I have had my dealing with many banks here and to expect intelligence, common sense and professionalism is wishful thinking. When they are wrong they will not admit it or will try to find a way to blame the mistake on something/someone else. When that happens never confront them. Steer them to a solution where they don't have to admit their mistake but are given a chance to make things right. And if you are a big enough peacock you will see how things magically seem to work to your advantage all the time.

[edd]

Well its been another week and still no money back

So much for "It will be here next week,you can trust our bank"

Edited August 6, 2010 by edd

[yabaaaa]

Last year the owner of the villa I am in came over for a visit. He has an account with this bank. He went into the branch to set up internet banking so he can transfer money for repairs and upkeep. Whilst doing this the manager asked to see him. Thinking he wanted to try and sell him something he went to his office. The manager then asked if the owner could lend him 10 million baht for a month or two as they were having a small cash flow problem. Only in Thailand would the bank ask you for a loan

What was the name of the Bar where this story was told ? And were there any aliens who ordered strange drinks ?

Actually I know the people concerned and 10 million would not be a lot to this guy, the house alone is up for sale at about 30 mill and he planned to build more, so not everything is "bar talk"

You might live in a bar not everyone else does.

[longball53098]

I have accounts at SCB over 5 years. In Pattaya and now here in Ban Chang. Added my wife to the accounts a couple of years ago. Do all of my bill paying, phone topping and money transferring using the internet system. We had a small glitch last month when the wife's insurance was due. She told some rep that called that she would pay the premium when due directly at the bank. He misunderstood and did an automatic payment from our account. She went to the bank and also made the payment so when we discovered two payments were made we talked to the staff at our branch and they said they would rectify and pay us back the second payment. The returned money showed in our account this week about 3 weeks from the time we discovered the error. No hassles, no problems. I have always been satisfied with the service.

[AnnyLing]

Last year the owner of the villa I am in came over for a visit. He has an account with this bank. He went into the branch to set up internet banking so he can transfer money for repairs and upkeep. Whilst doing this the manager asked to see him. Thinking he wanted to try and sell him something he went to his office. The manager then asked if the owner could lend him 10 million baht for a month or two as they were having a small cash flow problem. Only in Thailand would the bank ask you for a loan

What was the name of the Bar where this story was told ? And were there any aliens who ordered strange drinks ?

Actually I know the people concerned and 10 million would not be a lot to this guy, the house alone is up for sale at about 30 mill and he planned to build more, so not everything is "bar talk"

You might live in a bar not everyone else does.

It is a well known fact that yaba causes hallucinations.

[sirir]

Slightly off topic ,but, i went to the box in foodland today to draw my money by uk debit card ( as i do at least 3 times a week ) and was told by a new face "go atm ".i replied i have a daily limit at the atm but with this card and my passport i can draw up to your limit, she said "cannot ". i said i can and produced a receipt i got there 2 days ago for 50k,,she still says cannot, go atm, im getting pissed off by now and say,. ( normally ) look, i come here nearly every day, you are wrong, she then just ignores me, then another guy comes up and asks for 20k, she says" atm " again, ,we look at each other and are baffled,i ask " your machine have problem " ? no she replies, go atm, talk about thick, how do these illiterate idiots get a job at a bank ?.i find it actually quite frightening,beware as this poster says, gypsys and theives can be anywhere here,.

"how do these illiterate idiots get a job at a bank ?"

You dont actually think they are there due to qualifications, knowledge and experience do you?

These idiots are there because of their surname, daddy managed to pull a few strings because no one else would have them, in Thai its called boon kun.

Believe me there is at least one bank the wife and I refuse to use, because of its policy in hiring these incompetants, old khun yings who should have been put out to pasture years ago, I believe in the west it would be called, care in the community, these idiots should not be let out of the house without a supervision order.

Dear friend,

These idiots do not need any kind of surname or any big daddy, but most of them pay their way in to get a job So if I don´t have a lot of money, I must have a good look are about 18-25, single or then I might need some surname to scare them This is the reason I have to work aboard to support myself and my kid, no one will want to give me a job in Thailand because I too old, divorced and have kid even though my kid is grown up and can take care of her self, and I can do many kids of job, I can speak English very well, and I have a second language plus I can speak thais of course And that´s not just at the bank, these idiots are every where also thai airways, and all the companies that will pay you well with salary, you will find them every where, and how can you recognize them, of course they are stupid and never can help you with any thing. They are just there to look good and keep smiling! Just walk away if you do find one, do not waisting your time with them! Life is short Good luck

[dave111223]

Agreed that the bank manager was incompetent.

But don't you think you or your wife should have read the insurance policy before you bought it? Why did you have to have a friend tell what your insurance policy stated? If you are both unable to read then it's probably advisable to bring someone who can (such as the friend) with you when buying such policies.

Did you not ask the value of building insurance (how much coverage) and have them point this out in the contract? I can't see how you could pay insurance without know the amount of building coverage?

Also why buy insurance from a bank...? It's like buying a car from a gas station.

Edited August 9, 2010 by dave111223