The Best/Top Banks In Thailand For Farangs

[4evermaat]

I wanted to know other people's point of view on what they think the best Thailand bank there is here and why you feel so. Here is some criteria to consider, but by no means is it exhaustive:

Fees: any fees, including withdrawals and deposits, various account fees and online banking fees.

Services: cash advances off of debit/credit card, Certificate of Deposits, wires/western union, internet banking dos and donts

Accessability: atm locations, cash deposit locations, internet access and features.

Is it just more important to have an acount as long as it is at a major bank? Is there any reason(s) to consider a small or local/provincial bank?

Here's what I've come up with so far:

- All the major banks seem to charge 10 baht fee + 10 baht for the bank line lease to do a cash deposit at the teller. It is another 10 baht if you go inside the branch to make the deposit. These fees are waived if the bank account you deposit to is in the same province as the the province the account was opened in.

- TMB does not charge any fees for withdrawing any money at other banks in thailand. The representative also said outside thailand, but I have not tested this.

- Bangkok Bank in touristy areas seem to be able to do cash advance at the counter Where you can hand them your foreign credit or debit card and they can request an amount you want and you sign for it. (no pin). I have not tried this in Chumphon, maybe next month. At Junceylon, Patong Beach they can do it no problem, but you are limited to one time for one day per branch.

- Bangkok Bank also allows deposits via ACH system. I have not confirmed if someone could wire money (not ACH) or write a check and send it to the Bangkok Bank branch in New York, USA and it would still post to the thailand bank account.

This will give me and others a good idea as to which bank is a good choice and why.

Edited February 9, 2011 by 4evermaat

[nong38]

I think most people tell you the bank they are with are ok or they will move, I am with ayudhya. There are people there who speak english and are interested in me and my business. I am treated fairly as well, served in order not wait til no locals left. When I came out here I had been dealing with K bank about opening an account,but, when I went into the branch, no one wanted to know, I suspect because they did not speak english, so find some english speakers to explain what they can do for you and take it from there.

[PeterGriffin]

I heard Siam commercial Bank has the most ATM's in Thailand, meaning you won't have to pay extra fees often. (just as with any other Thai bank, using ATM's from other banks costs a few baht, as well as using ATM's from outside of your region.) (i've never heard of TMB being an exemption to this?)

[longball53098]

SCB has ATM fees if you use an ATM outside the province where you have you're account. Example? My account is in Rayong province,,,,,,,,all ATM use is free at any SCB ATM,,,,,,,,,,cross the line in to Chonburi and all SCB ATM use is now 20 baht per transaction. If I use another bank ATM anywhere its 20 baht

[PattayaParent]

The best bank is the one that will let you open an account as many of them request a work permit to allow you to open one.

[thaimate]

The best bank is the one that will let you open an account as many of them request a work permit to allow you to open one.

I HAVE ACCOUNTS WITH AYUDDA ,BANGKOK BANK AND Thanachart ,never been asked for anything except my passport or drivers licence.

[thrilled]

many banks in thailand all ya need is an address and A passport.

[4evermaat]

I think most people tell you the bank they are with are ok or they will move, I am with ayudhya. There are people there who speak english and are interested in me and my business. I am treated fairly as well, served in order not wait til no locals left. When I came out here I had been dealing with K bank about opening an account,but, when I went into the branch, no one wanted to know, I suspect because they did not speak english, so find some english speakers to explain what they can do for you and take it from there.

One thing about ayudhya is I noticed they don't like cash machines. I'm not sure about in bangkok, but they have a fairly new location in Ocean Mall and an even newer location in Tesco Lotus in Chumphon Town. Atm machine and passbook update, but no cash machines. These are new locations. SCB and BB have the cash deposit machines. Why wouldn't they put a cash machine? especially in smaller town, when the branch is closed or if I want to save 10 baht from going inside to do this.

The best bank is the one that will let you open an account as many of them request a work permit to allow you to open one.

I HAVE ACCOUNTS WITH AYUDDA ,BANGKOK BANK AND Thanachart ,never been asked for anything except my passport or drivers licence.

TMB and Bangkok Bank asked me if I had a long stay visa. But there have been numerous people who have opened one with a tourist visa.

TMB that's what they told me: we do not charge to withdraw from any atm in thailand or overseas. I never tested it out of province. Maybe I'll do that one day.

[PattayaParent]

The best bank is the one that will let you open an account as many of them request a work permit to allow you to open one.

I HAVE ACCOUNTS WITH AYUDDA ,BANGKOK BANK AND Thanachart ,never been asked for anything except my passport or drivers licence.

TMB and Bangkok Bank asked me if I had a long stay visa. But there have been numerous people who have opened one with a tourist visa.

TMB that's what they told me: we do not charge to withdraw from any atm in thailand or overseas. I never tested it out of province. Maybe I'll do that one day.

TMB insisted I had a work permit to open an account, so did Bangkok Bank and Siam Commercial who also reluctantly opened an account for my wife with a 1 year visa.

Maybe TMB mean that THEY don't make a charge to withdraw from any ATM in Thailand, but if you use another bank's ATM in your own province or outside 20 Baht is deducted from your account, so someone is charging.

[darrenr]

TMB No limit visa debit card"

TMB delights customer again with its year-end launch of TMB No Limit, the first and only debit card in the market that gives customers the freedom of cash withdrawal and inquiring from any ATM of any bank nationwide without any fee & no limit on the number of transactions and also no annual fee. The new debit card is targeted at customers who want to have convenient lifestyles such as students and career people particular those who regularly on the move travel upcountry. The card’s key features tap into customer’s mind and offer them a new experience they never know can exist – one from a debit card that frees them from the concern about ATM cash withdrawal fee and the inconvenience of having to always look for an ATM of the card-issuing bank and find themselves standing in a long line in an attempt to safe money. With this convenience, customers can also feel safer as they do not need to carry a lot of cash anymore. TMB expects to attract 100,000 new customers by the end of this year

Sounds like a good deal !

[flying]

I have accounts at Bangkok, Siam & Ayudhya

By far for me Bangkok Bank is tops.

What you mentioned about the New York branch makes it very easy & nearly free if your US bank does online transfers for free. The NY Bangkok branch does not charge much so overall it is the best deal going.

Add to that we have Ian here on the Forum from Bangkok Bank to help with any questions you have.

For me the Bangkok Bank service has been much more than I am use to here in the US.

[4evermaat]

TMB insisted I had a work permit to open an account, so did Bangkok Bank and Siam Commercial who also reluctantly opened an account for my wife with a 1 year visa.

Maybe TMB mean that THEY don't make a charge to withdraw from any ATM in Thailand, but if you use another bank's ATM in your own province or outside 20 Baht is deducted from your account, so someone is charging.

Yes, for the tmb statment someone answered it already. There is already that big thread on bank account opening successes and failures. there's a separate phuket.-only thread also. Therw have been cases where you can walk down to another branchor revisit the same branch on a different day with success. But the non-imm 1yr visa offer the most flexibility with OUT a work permit. I want to read up more on work permits, as those allow just about anything to be put in your name.

[4evermaat]

We shouldnt forget the free gifts for opening an acct. Bangkok bank gave a free bag, enough to fit a small laptop and some minor accessories. tmb offered water while i was waiting. Tea also. Then i took the umbrella. I thought about trying each bank just to claim the free gift. But was it worth 300 baht for atm card.

[PattayaParent]

TMB insisted I had a work permit to open an account, so did Bangkok Bank and Siam Commercial who also reluctantly opened an account for my wife with a 1 year visa.

Maybe TMB mean that THEY don't make a charge to withdraw from any ATM in Thailand, but if you use another bank's ATM in your own province or outside 20 Baht is deducted from your account, so someone is charging.

Yes, for the tmb statment someone answered it already. There is already that big thread on bank account opening successes and failures. there's a separate phuket.-only thread also. Therw have been cases where you can walk down to another branchor revisit the same branch on a different day with success. But the non-imm 1yr visa offer the most flexibility with OUT a work permit. I want to read up more on work permits, as those allow just about anything to be put in your name.

anything that you can put in your name with a work permit can just as easily be put in your name without one.

I've never been asked to show a work permit for anything that I've bought in my name.

[PattayaParent]

We shouldnt forget the free gifts for opening an acct. Bangkok bank gave a free bag, enough to fit a small laptop and some minor accessories. tmb offered water while i was waiting. Tea also. Then i took the umbrella. I thought about trying each bank just to claim the free gift. But was it worth 300 baht for atm card.

It's not compulsory to have an ATM card, you can operate the account by passbook only.

[4evermaat]

It's not compulsory to have an ATM card, you can operate the account by passbook only.

Can you imagine a bank account without an ATM card? What advantage is there to not having the ATM card? No ability to withdraw, POS purchase, pay bills, internet banking, etc. after hours or if the branch is busy. You can deposit without a card. which I think is cool. I wish banks in the USA can be done like this also. You avoid the 200 baht annual fee for the card, right? That's all I can think of.

Edited February 17, 2011 by 4evermaat

[4evermaat]

anything that you can put in your name with a work permit can just as easily be put in your name without one.

I've never been asked to show a work permit for anything that I've bought in my name.

Really? So you were able to buy a car or motorbike without WP? Insurance? New or used? If you would like to PM me with some locations and the proces/costs/etc, I would be greatful. It is good to avoid putting things in the Thai persons name if you don't have to. Every motorbike dealer I went to said even if I paid cash, they needed either a work permit or a thai person to sign it over to. This is fantastic news :jap:

Edited February 17, 2011 by 4evermaat

[flying]

Every motorbike dealer I went to said even if I paid cash, they needed either a work permit or a thai person to sign it over to. This is fantastic news :jap:

Can you tell us what type of visa you are on in Thailand?

[4evermaat]

Can you tell us what type of visa you are on in Thailand?

Multiple, Non-imm: ED

Edited February 17, 2011 by 4evermaat

[flying]

Can you tell us what type of visa you are on in Thailand?

Multiple, Non-imm: ED

Thanks

I am wondering .....is it the same if you have a type O visa?

Meaning can you buy a car,motorbike etc on a type O or O-A

[PattayaParent]

anything that you can put in your name with a work permit can just as easily be put in your name without one.

I've never been asked to show a work permit for anything that I've bought in my name.

Really? So you were able to buy a car or motorbike without WP? Insurance? New or used? If you would like to PM me with some locations and the proces/costs/etc, I would be greatful. It is good to avoid putting things in the Thai persons name if you don't have to. Every motorbike dealer I went to said even if I paid cash, they needed either a work permit or a thai person to sign it over to. This is fantastic news :jap:

Never bought a motocy.

My first car I bought on a tourist visa, insurance provided 'free' by the dealer but you can get insurance at any broker.

All you need is the residence letter from Immigration and the cash.

If you purchase with finance you probably need a WP or a Thai guarantor.

[4evermaat]

Thanks

I am wondering .....is it the same if you have a type O visa?

Meaning can you buy a car,motorbike etc on a type O or O-A

It should be, it that you can stay for up to 15 months at a time. The qualifications for each of the type of non-imm visas and ability to obtain certain things like a work permit are different.

I never pushed the issue, honestly. I went to honda dealerships. One Yamaha dealership said the same thing. If you finance, they want someone from the same province you are purchasing to be a personal guarantee. Cash buyer they wanted a work permit, or any Thai person to put the motorbike into.

I want to be clear. You have walked into a dealership, and walked out with all the paperwork with nothing but your passport and cash? There was nothing extra you had to do? Can this be done anywhere in thailand, or only tourist areas? Looking back, I guess I should have asked here first if other people have done it (passport-only purchase of motor vehicle).

When I did the inquiries, it was in Phuket Town. The patong beach location of Honda adds an extra 3-10000 to the price of their bikes for no reason.

Edited February 17, 2011 by 4evermaat

[4evermaat]

Never bought a motocy.

My first car I bought on a tourist visa, insurance provided 'free' by the dealer but you can get insurance at any broker.

All you need is the residence letter from Immigration and the cash.

If you purchase with finance you probably need a WP or a Thai guarantor.

Is the residence letter from immigration just a declaration? i.e. "stated"

[PattayaParent]

Never bought a motocy.

My first car I bought on a tourist visa, insurance provided 'free' by the dealer but you can get insurance at any broker.

All you need is the residence letter from Immigration and the cash.

If you purchase with finance you probably need a WP or a Thai guarantor.

Is the residence letter from immigration just a declaration? i.e. "stated"

You may have to show them your rental agreement, I showed a copy of my condo deeds.

[PattayaParent]

It's not compulsory to have an ATM card, you can operate the account by passbook only.

Can you imagine a bank account without an ATM card? What advantage is there to not having the ATM card? No ability to withdraw, POS purchase, pay bills, internet banking, etc. after hours or if the branch is busy. You can deposit without a card. which I think is cool. I wish banks in the USA can be done like this also. You avoid the 200 baht annual fee for the card, right? That's all I can think of.

Yes, I'm saving the 800k for the retirement visa and not needing to touch the money as I already have an account with ATM card for daily needs.

[rmacdon61]

"I would like to know, hopefully from other canadians, how they transfer funds to their Thailand accounts? I deal with a credit union in Canada, but will change banks as needed because CU requires my sig every time I wire money. Difficult when standing in Thailand not Canada. Would like the least painful way. I deal with Bank of Bangkok here in Chiang Rai.

Thanks"

[ianguygil]

"I would like to know, hopefully from other canadians, how they transfer funds to their Thailand accounts? I deal with a credit union in Canada, but will change banks as needed because CU requires my sig every time I wire money. Difficult when standing in Thailand not Canada. Would like the least painful way. I deal with Bank of Bangkok here in Chiang Rai.

Thanks"

Please PM me and I can get somebody in the Bank to help you.

[4evermaat]

I just confirmed that Bangkok Bank in Chumphon can do cash advance for a foreign debit/credit card, at least with a visa logo (ocean mall). There appears to be no minimum amount (I asked). Great way to avoid the ATM fee. Of course, this only works well if your bank does not charge for cash advances. This varies from bank to bank. The exchange rate appeared to be the usual bangkok bank rates.

Every bangkok bank that has the cash advance swipe machine should be able to do it (most do). Make sure you bring your passport. They will make copy and make you sign it, and you also sign the receipt for the cash advance. Then tell the nice teller how you want your funds denominated.:jap:

In patong (junceylon), I walked into the Kasikorn bank and they said they could do it initially, but then they saw that my card said debit and insisted that it was impossible. I attempted to explain that foreign debit cards are not the same as some of their debit cards and that it is possible. I told them they could try. They escorted me out of the bank and pointed to the ATM machine.