Bank Issue

[DJ Moore]

Reading some post here, my question is in reference to transfering monies.

I want to know if a transfer is still necessary under the following condition as described below.

I live not far from New York City when there is a Bangkok Bank. If I open an account, and start having funds deposited directed into the New York branch of Bangkok bank.

Then once in Thailand, will my funds show in Thailand (Bangkok Bank) as well?

Appreciate some info.

Thanks............... DJM

[pichai]

I don't think you can do that, one has to open a bank account in Thailand first before he could transfer any money into the account. This is my opinion, perhaps, you may want check with Bangkok Bank, New York Branch on this matter.

[OldAsiaHand]

The obvious thing to do is for you to call them and ask, but almost certainly the right answer to your question is essentially no.

Unless something has quite recently changed, Bangkok Bank is not licensed to operate a full branch in New York -- i.e. they cannot offer accounts to the public or provide other consumer banking services. What they did have there the last time I was aware of the details was what is called an Edge Act bank, an arrangement which restricts their activities in the US to undertaking certain forms of commercial banking.

[Curt]

What would be your reason for a Bangkok Bank account?

Any funds you deposit in your existing bank will immediately appear at all Thai ATMs.

[DJ Moore]

Transfering monies.

====================================================

Thanks all for the replies. I did contact Bangkok Bank in NYC last week.

My question to them was more geared to buying a condo in Thailand. Specifically about transferring of money because of that regulation I hear, having to show all funds coming from outside of Thailand to make such a purchase.

It was a bit difficult taking to that person at the bank. I didn't quite understand them nor did they quite understand me.

BUT in any case I was hoping since it was in fact Bangkok Bank, then the transfer wouldn't be necessary, cutting out that step, since I felt it was one and the same bank.

Certainly I have other account here in USA, and know I can access them in the LOS....................... DJM

[Curt]

The Thai Farmer's / Kasikorn Bank in LA can't open accounts, but can service existing accounts.

The account needs to be opened in Thailand.

Any funds deposited at the LA branch are converted to baht, with the interbank 1/2 of 1 % discount, before credited to your account.