Opened A New Bank Account In Patong Beach

[4evermaat]

I saw a thread about opening a new bank account in Thailand, but the initial poster wanted experiences in Bangkok. So I figured I'd start a new thread for those of us in Phuket/Patong Beach area.

I have a one year, non-immigrant ED visa.

About 2 weeks ago, I went to the Bangkok Bank branch just outside Royal Paradise hotel complex (After Bank of Ayuda, but before Junceylon on Rat u Thit 200 Rd.) I requested to open a new account and I was asked for my passport. They gave me 2 blank application papers and told me to sign both of them. I did. I also signed a copy of my passport papers. I was asked for my address, I gave them the address of the guesthouse I was staying in. When asked how long I would stay in thailand, I said 1 year. They asked if I was working, I said I work for myself on my computer.

After signing a few more documents, I was given a passbook with my Savings account # on it. I was given a Visa debit card and asked to enter my pin # twice into a number keypad. The minimum opening deposit was 500 bht and 300 bht for the debit card. There is a 200 bht fee every year for the debit card. If you lose your debit card for any reason, free debit card replacement if you remember the pin #. If not, must pay 300 for a new one. They gave me a free carrying bag. I asked if they have a tee-shirt or hat, but they said the bag was all they have

I went back in a week later and signed up for internet banking. The bank associate directed me to the ATM and you sign up right there. You input your password and they issue you a username on the ATM receipt. You complete the transaction with your cell phone when you go online to complete the internet banking setup.

I then went to Siam Commercial Bank in Junceylon. They asked for a work permit. I said no, and the guy said cannot open without a work permit. I didn't argue, I just quietly left.

So I went next door to TMB Bank. They asked me for work permit. I said no. Then he asked me if i have long-stay visa. I said yes, and he welcomed me to open a new account. Similar story to bangkok bank above. But TMB seems to be very friendly. They brought me water while I was waiting, and also served me fruit.

They will try to get you to deposit 2000 minimum, but the minimum is 500 bht. Their ATM Visa card is 500 bht, but it is good for 3 years instead of BB or SIAM 1 year. You can use their ATM at any bank in Thailand and they do not charge a fee. You walk out the same day with your passbook and Visa atm card for your savings account. It also appears that TMB has some of the best exchange rates. I first noticed this at the airport in Bangkok.

I insisted that I already have a bag from Bangkok Bank. I dont need anymore bags. So my free gift was an umbrella. Very useful in patong beach. I was very impressed with TMB bank overall.

You can go right to the ATM and withdraw your initial deposit immediately. I found that interesting. So you could "bank hop" and open many accounts with different banks in 1 day and only pay the ATM card fee. Re-use the initial deposit money.

With any bank account I recommend depositing an odd amount, like 510 bht. So when you go to the ATM to withdraw the funds back out you can leave something in there to post to your account. And I'm not sure about their account closure policies. i know many banks in the USA, even free accounts you must have at least a penny in the account for the account to remain open. Not sure how it is handled in Thailand.

I had an issue with the internet banking setup with TMB. When I went online to setup my account after requesting it from the ATM, I got past the first page which asks you to accept the terms and conditions. The second page that asks for your national ID or passport #, I got errors that the passport # was not found. So the next day I went back to TMB (this was about 3 days after the opening date) and it took about an hour of them calling tech support and they said the problem would be resolved by tomorrow afternoon. I checked that evening and I was able to complete the registration for online banking. So it was good to see that I had an issue, but that it was resolved swiftly. I asked for another umbrella for all the trouble, but unfortuletly no, unless I opened another account.

I said to myself "Perhaps now I'll go back next door to SIAM bank and mention that I have long term visa. And I'll also show them that 2 of their competitors opened accouts with no problem. And see what they say." I went back next door and the line was long again, and I wasnt going to wait. I never re-attempted Siam, although I'm sure I could have opened acct there or their stand-alone branch on Rat-U-Thit 200 road (About 200 meters from Royal Paradise Hotel, opposite from Junceylon). I was curious to know what type of free gift i could get out of SIAM. I already had a bag and an umbrella. Maybe they had t-shirts?

NOTE: The bank branches @ Junceylon are open 7 days a week. appx 10:30 am to 7pm. So if you miss the stand-alone branch times (usually 3:30pm close time), you can head to Junceylon and see if they are open.

One interesting thing I found out about Thailand bank accounts is that that at the ATM, you can do many things: Pay bills, transfer money to different accounts (even different bank name bank accounts). Very user-friendly This is different from USA where you must call in or visit a branch to do many things. Also, they issue the ATM card right away. This is different from USA where you must wait several business days for the ATM card to arrive. I think some Bank of America branches print cards instantly. But I dont see why at least temporary check-cards can just be issued at the branch.

USAA is an exception. Other military-friendly banks tend to have more do-it-yourself options online also.

I hope this information was helpful.

[gotlost]

Good information. That's the way it is in any city or town in Thailand. If a bank says no just go to the next.

[thrilled]

Your right about that.I opened an account with 2 different bankd in thailand.I didn't have A visa just A passport

[Jimi007]

I'm not sure where you got you information from, but some of it is incorrect:

Their ATM Visa card is 500 bht, but it is good for 3 years instead of BB or SIAM 1 year.

My Bangkok Bank and Siam Commercial Bank ATM cards are good for 10 years... Plus Bangkok Bank has a branch in New York and I can transfer money online from Bank of America to Bangkok Bank for a low fee. I don't have a work permit, as I have a retirement visa. Online banking with Bangkok Bank is very good and free. I can also transfer money to my GF's account for free. I have accident insurance through Siam Commercial Bank for a very low fee, they also offer health insurance. For a list of Thai banks exchange rate check this link: Bank Exchange Rates

By the way you can open a bank account with a Certificate of Residence from your embassy or Thai Immigration or a "yellow book" from the Land Office. You need a Certificate of Residence to obtain a Thai Drivers license as well.

Edited August 8, 2010 by Jimi007

[NamKangMan]

I opened a bank account with The Bangkok Bank Patong Branch. No problems opening the account, but, when I asked to have internet banking attached to the account, I was told I couldn't do it. Anyone know why? Also, if I went in now, would they allow me to have it? Have they changed their rules for this? Internet Banking is obviously a service I would require.

Edited August 8, 2010 by NamKangMan

[LivinLOS]

Bangkok bank in Patong was one of the least helpful, ignorant banks I ever had the displeasure of dealing with. Seem to have forgotten that a bank survives on its customers. Tho that was going back 8 or so years.

Of all of them SCB and Kasikorn resent the easiest experiences IMO, Kasikorn has superior net banking IMO.

[teslawasrobbed]

It appears that the banks are always changing there rules and the different branches within each bank are also free to make up their own rules. I have opened accounts with Bangkok Bank, SCB, Ayudhya and TMB an never had to show a visa just my passport. As for internet banking it is all good until you want to send money out of the country then its impossible without sending a whole bunch of documents to Bangkok to verify you are not laundering money.

If anyone knows of a Thai bank that lets you send money overseas by internet banking without all the paperwork please let me know

cheers

[LivinginKata]

It appears that the banks are always changing there rules and the different branches within each bank are also free to make up their own rules. I have opened accounts with Bangkok Bank, SCB, Ayudhya and TMB an never had to show a visa just my passport. As for internet banking it is all good until you want to send money out of the country then its impossible without sending a whole bunch of documents to Bangkok to verify you are not laundering money.

If anyone knows of a Thai bank that lets you send money overseas by internet banking without all the paperwork please let me know

cheers

Sending money out of Thailand is not so easy because of Government/BOT rules & regulations. All banks in Thailand are the same when sending money back home.

[BillR]

RE: the online banking

I was told same thing at krungsi, maybe it was lost in translation. Anyways, There was an online app that I printed out, brought to the bank signed, and a few days later I was set-up online.

[katabeachbum]

My ATM Visa debet cards in Bank of Ayudhya and my Visa creditcard in same bank are both valid 5 years from date of issue. No fees involved.

Most banks will delete an account if balance has not been more than 1000 baht past 180 days.

[womblejamie]

I'm not sure where you got you information from, but some of it is incorrect:

Their ATM Visa card is 500 bht, but it is good for 3 years instead of BB or SIAM 1 year.

My Bangkok Bank and Siam Commercial Bank ATM cards are good for 10 years... Plus Bangkok Bank has a branch in New York and I can transfer money online from Bank of America to Bangkok Bank for a low fee. I don't have a work permit, as I have a retirement visa. Online banking with Bangkok Bank is very good and free. I can also transfer money to my GF's account for free. I have accident insurance through Siam Commercial Bank for a very low fee, they also offer health insurance. For a list of Thai banks exchange rate check this link: Bank Exchange Rates

By the way you can open a bank account with a Certificate of Residence from your embassy or Thai Immigration or a "yellow book" from the Land Office. You need a Certificate of Residence to obtain a Thai Drivers license as well.

10 years on my Bangkok Bank ATM Visa card also and when I lost it last year, two years after opening the account in Koh Samui my new card issued in Chiang Mai branch was valid again for 10 years. Have never been able to fault them yet!

[4evermaat]

I'm not sure where you got you information from, but some of it is incorrect:

Their ATM Visa card is 500 bht, but it is good for 3 years instead of BB or SIAM 1 year.

My Bangkok Bank and Siam Commercial Bank ATM cards are good for 10 years...

I meant that the fee covers the card for 3 years @ TMB and 1 year BB. My TMB debit card actually has 07/2013 expiration date (3 years) . BB debit card has 5 year expiration. It has the chip inside like a smart card. I dont know if that makes a difference. My information comes from my experience i just had and looking at the debit cards now as i hold them.

I opened a bank account with The Bangkok Bank Patong Branch. No problems opening the account, but, when I asked to have internet banking attached to the account, I was told I couldn't do it. Anyone know why?

They probably didnt understand you. You can go to the ATM and apply for internet banking under "additional services". With BB, you may have to initiate it inside branch first.

I bring my translator with me on my phone. BBtran works ok. just dont use slang. Say litterally what you want and spell out everything with the correct adjectives. Since i signed up for smartphone package, i can leave my blackberry on with internet and not get nickled down for being charged by the minute from AIS. smartphone package charges by the MB.

My ATM Visa debet cards in Bank of Ayudhya and my Visa creditcard in same bank are both valid 5 years from date of issue. No fees involved.

Most banks will delete an account if balance has not been more than 1000 baht past 180 days.

All the banks tell me commission of some kind associated with debit card. BB is 300 first year, 200 bht/year. TMB was 500bht for 3 year.

[4evermaat]

10 years on my Bangkok Bank ATM Visa card also and when I lost it last year, two years after opening the account in Koh Samui my new card issued in Chiang Mai branch was valid again for 10 years. Have never been able to fault them yet!

How long ago did you all get these 10 year debit cardss? Do they have the smart chip embedded?

For those people who said tey didnt need the visa to open account, not sure about that. the passport has the visa stamped on one of the pages. When i went to the banks, they photocopied the page with my home country info, and the page with the visa. They make you sign the photocopy. This was my experience.

[Old Croc]

Can you open an account at a sub branch, such as the ones upstairs in Tesco in Rawai?

[katabeachbum]

Can you open an account at a sub branch, such as the ones upstairs in Tesco in Rawai?

yepp

the branch you open your account in, is the branch you need to visit every time you have a problem, like needing new passbook, forget PIN, damaged card etc

For most banks, it is also the only branch you can withdraw more than a few hundred k baht

[katabeachbum]

10 years on my Bangkok Bank ATM Visa card also and when I lost it last year, two years after opening the account in Koh Samui my new card issued in Chiang Mai branch was valid again for 10 years. Have never been able to fault them yet!

How long ago did you all get these 10 year debit cardss? Do they have the smart chip embedded?

For those people who said tey didnt need the visa to open account, not sure about that. the passport has the visa stamped on one of the pages. When i went to the banks, they photocopied the page with my home country info, and the page with the visa. They make you sign the photocopy. This was my experience.

Visa not needed if you have Certificate of Residence

[4evermaat]

Can you open an account at a sub branch, such as the ones upstairs in Tesco in Rawai?

yepp

the branch you open your account in, is the branch you need to visit every time you have a problem, like needing new passbook, forget PIN, damaged card etc

For most banks, it is also the only branch you can withdraw more than a few hundred k baht

Interesting. You sure you must go back to the EXACT branch, or just any branch in the same Province? I do know that the province or city that you open your account in makes a difference for the commission/fee schedule for deposits/withdrawals. For example, i opened my BB account in Phuket, so i may walk into any BB branch in Phuket and withdrawal or deposit funds into my account for no fee. If I'm in Bangkok and want to deposit funds into my account, it's either 20 bhat at the atm, and 30 b in the branch.

TMB bank has no such restrictions to my knowledge. (i'll double-check on deposits, but withdrawals, ANY atm in thailand free from their end) Overseas also no fees, if I remember the conversation properly.

....

Visa not needed if you have Certificate of Residence

ok. makes sense. But the one year visa sure does impress many of the locals.

[stevenl]

I have an account with bank of ayudhya, main office in phuket town. In kata i can withdraw 100.000 baht, for bigger amounts i need to go to phuket town office.

[LivinLOS]

Interesting. You sure you must go back to the EXACT branch, or just any branch in the same Province? I do know that the province or city that you open your account in makes a difference for the commission/fee schedule for deposits/withdrawals. For example, i opened my BB account in Phuket, so i may walk into any BB branch in Phuket and withdrawal or deposit funds into my account for no fee. If I'm in Bangkok and want to deposit funds into my account, it's either 20 bhat at the atm, and 30 b in the branch.

My experience is most slightly unusual things need to be done at your home branch. Kind of awkward if you move about a lot.

Also there doesnt seem to be any way to 'move' an account.. And with the whole rigmarole of net banking signups, direct debits, automated payments, immigration account proofs, and other things it becomes increasingly needed. I recently went into a branch asking if this would be possible, and despite them having near perfect english, the whole concept of 'moving' an account simply flew over them, so much so managers were called and discussions where had, to no success. The whole "I would like to move this account to this branch, can that be done" "you want new account ?" "No, I would like to move this account to this branch" "You want to open an account in this branch" Repeat 10 or so times. I was seasoning some immigration proof money so didnt want any breaks in the cash balance. Nice friendly bank, but when faced with anything 'new' they tend to freeze. I guess thats something others encounter.

BTW never being in a position to send money out, only bring it in.. Whats the baht amount you can send out without restrictions and tortor3 or whetever its called forms.

[Old Croc]

yepp

the branch you open your account in, is the branch you need to visit every time you have a problem, like needing new passbook, forget PIN, damaged card etc

For most banks, it is also the only branch you can withdraw more than a few hundred k baht

Thanks, I'll give it a go this week.

[katabeachbum]

yepp

the branch you open your account in, is the branch you need to visit every time you have a problem, like needing new passbook, forget PIN, damaged card etc

For most banks, it is also the only branch you can withdraw more than a few hundred k baht

Interesting. You sure you must go back to the EXACT branch, or just any branch in the same Province? I do know that the province or city that you open your account in makes a difference for the commission/fee schedule for deposits/withdrawals. For example, i opened my BB account in Phuket, so i may walk into any BB branch in Phuket and withdrawal or deposit funds into my account for no fee. If I'm in Bangkok and want to deposit funds into my account, it's either 20 bhat at the atm, and 30 b in the branch.

TMB bank has no such restrictions to my knowledge. (i'll double-check on deposits, but withdrawals, ANY atm in thailand free from their end) Overseas also no fees, if I remember the conversation properly.

ok. makes sense. But the one year visa sure does impress many of the locals.

yepp, exact same branch

between provinces its complicated. Doing property in Hua Hin and Phuket at the same time, I needed to have accounts in both provinces, cause transfer was slow and expensive, and cash limit on Phuket book in Hua Hin was one million baht at that time. Now its less, and 200k from ATM is kinda slow, and then 200k next day....................