Please Recommend A Thai Bank

[bob/nyc]

Can someone recommend a Thai Bank that would be good for a foreigner to use, and is it true that with a retirement visa, you can only have a savings account

thanks...........Bob.

[lopburi3]

Bangkok Bank (BBL) and Siam Commercial Bank (SCB) seem to be the two most in favor presently. BBL has direct deposit ability from US accounts.

Passbook savings accounts are what is available to non work permit holders but that is the normal account for all people here and it is really a current account as far as access is concerned (atm) and not a great limitation for most people. Checks are not used in daily activities (non business) here.

[twix38]

I have an account with Thai Military bank and was surprised to learn on my last visit that they have stopped paying interest to non-working foreigners. I used to get interest, but not any more.

I will have a look at BBL and SCB on my next visit. I plan to keep my Thai Military bank for daily living and use one of the above as a savings account which does get interest (I trust???). I have heard that a few scams go on and have decided not to have an ATM card, as I will use my ATM with Thai Military where I don't keep much money on a daily basis.

Anyone have any other good advice or views on my thoughts above?

[gerrryuk]

Can someone recommend a Thai Bank that would be good for a foreigner to use, and is it true that with a retirement visa, you can only have a savings account

thanks...........Bob.

<{POST_SNAPBACK}>

I live in England but walked into the Bangkok Bank Head Office in Silam Road Bangkok last week and with just my passport (and some cash) opened a savings account with no problem. Have to say it is much much more efficient than any British Bank. But you do have to have an address in Thailand, they will not accept an address from abroad. There is only one Branch in the UK and that is in London.

But you get a debit card and a passbook and looks to be the most common in use throughout Bangkok. Seems to me very same as a current account but without a cheque book.

[lopburi3]

I have an account with Thai Military bank and was surprised to learn on my last visit that they have stopped paying interest to non-working foreigners. I used to get interest, but not any more.

I will have a look at BBL and SCB on my next visit. I plan to keep my Thai Military bank for daily living and use one of the above as a savings account which does get interest (I trust???). I have heard that a few scams go on and have decided not to have an ATM card, as I will use my ATM with Thai Military where I don't keep much money on a daily basis.

Anyone have any other good advice or views on my thoughts above?

<{POST_SNAPBACK}>

Believe fixed deposit type savings account (if that is what you are thinking about) require at least a tax ID number to open and they probably want a work permit.

Not sure what you are thinking about re ATM card as that is normal to have for any passbook type savings account but suspect you are thinking of the talk of atm modifications/cameras reading card and input of pin. Do not believe that to be the "huge" problem that some believe it to be but you are correct that to keep money in an account without ATM access will solve that - only problem is getting money when you may need it (in hospital as an example). So I would keep enough in ATM account to cover normal emergency needs. Most normal ATM cards have a daily limit of 50k or so. If you obtain Internet access (or even use phone once a day) you can detect any misuse before major loss if you are that concerned.

[billd766]

I have an account with Thai Military bank and was surprised to learn on my last visit that they have stopped paying interest to non-working foreigners. I used to get interest, but not any more.

I will have a look at BBL and SCB on my next visit. I plan to keep my Thai Military bank for daily living and use one of the above as a savings account which does get interest (I trust???). I have heard that a few scams go on and have decided not to have an ATM card, as I will use my ATM with Thai Military where I don't keep much money on a daily basis.

Anyone have any other good advice or views on my thoughts above?

<{POST_SNAPBACK}>

Believe fixed deposit type savings account (if that is what you are thinking about) require at least a tax ID number to open and they probably want a work permit.

Not sure what you are thinking about re ATM card as that is normal to have for any passbook type savings account but suspect you are thinking of the talk of atm modifications/cameras reading card and input of pin. Do not believe that to be the "huge" problem that some believe it to be but you are correct that to keep money in an account without ATM access will solve that - only problem is getting money when you may need it (in hospital as an example). So I would keep enough in ATM account to cover normal emergency needs. Most normal ATM cards have a daily limit of 50k or so. If you obtain Internet access (or even use phone once a day) you can detect any misuse before major loss if you are that concerned.

<{POST_SNAPBACK}>

I have a savings account with the Kasikorn (ex TFB) in the local village and my wife an I both have ATM cards, mine at 50K and my wifes at 25K. I also have internet banking which I use a lot as I am working overseas and I can use a Visa ATM to draw cash. The branch is only a small village bank and they know me in there. The divisional manager is a very nice lady, K Potchana who speaks good english and is extremely helpful.

She offered to give us a fixed deposit account at a better rate of interest (not much better but..) and I have no problems at all.

My salary is in the bank on the day that the company say it will be, I have internet access, they have even offered to lend us money if we want some and friendly service. I am the first person in the village to actually transfer money out of Thailand which took a little while the first time.

I would thoroughly recommend the bank but it may just be my branch that is very good.

[bob/nyc]

Thanks for some good advice. Any information regarding a check in foreign currencies into a Thai bank. Lets say a US check in US dollars deposited into my Thai savings account, then the bank can convert to Baht.

[IMA_FARANG]

Can someone recommend a Thai Bank that would be good for a foreigner to use, and is it true that with a retirement visa, you can only have a savings account

thanks...........Bob.

<{POST_SNAPBACK}>

I have had a BKK account with Bangkok Bank for at least 20 years.

It is a JOINT account with my Thai girlfriend. I have a bank book and an ATM card (the ATM she uses as where she lives is not physically close to the Bangkok Bank branch where I originally opened the account).

The account was opened about 1980/1981 with just a passport while I was in BKK as a tourist. I used my Thai girlfriends home address at that time.

I do get interest. I see it occasionally in the passbook as a deposit, but it is only a low rate.

It is possible to transfer funds to BKK from the states via a wire transfer. It took me a while to get my small regional bank in Masachusetts to accept the reality of transferring money from their bank to BKK but it is now working.

It is possible for you to deposit a U.S. bank check into your account in Bangkok Bank in Thailand once your account is established. However, Bangkok Bank is charging a service charge plus a 1% fee for EACH CHECK. So I wouldn't deposit checks directly into your Thai account, except in an emergency. For a $1000 check deposited to your account in Thailand, expect to pay about a $20 to $30 fee to clear that check (or more).

As always in Thailand, having someone on the inside who knows you personally can make all the difference. There is a woman in the branch of Bankok Bank where I have my account, who has known me for at least 15 years. She always greets me or my girlfriend by name when we come into the bank. She has been a great help in cutting through the "red tape" involved with my Bangkok Bank account.

[lopburi3]

As said there are fees and wait involved with cashing a check. But the fees can sometimes be waved and the wait reduced if you are a good customer. But for most people wire transfer is the best method and that is what is required when using account for immigration purposes.

As for the interest received it has been .5% recently but that is in line with normal interest rates in Thailand. When the interest was double digit the interest on passbook accounts was much higher. Interest is only paid twice a year, in June and December.

[bob/nyc]

Thanks everyone for all the good tips. I think wiring funds is the best bet.

[Peabo]

Can someone recommend a Thai Bank that would be good for a foreigner to use, and is it true that with a retirement visa, you can only have a savings account

thanks...........Bob.

<{POST_SNAPBACK}>

[Peabo]

Last year had muti/"O". Went into Bangkok Bank, Kanchanaburi, opened savings account and got ATM card in one week. Was treated "royally" with my paltry B10,000. My US social security is direct deposit in my CA credit union. To transfer money, I go to ATM outside any BB and use my US atm card, my bank does'nt charge me for ATM use in Thailand!!, withdraw BAHT, walk inside with my passbook and make a deposit into thai account.