Good Expat Bank, Good Expat Hospital?

[321Rich]

I'm a new Farang to this forum… planning on retiring to some where in Isaan in a few months.

Two questions:

(1) What are a couple of stable banks in the Isaan area (cities please) that have American counterparts? (Like HSBC and CitiBank). I plan to open accounts (set up Pension & Social Security deposits) here before moving to Thailand.

(2) If you suffered a stroke or heart attach tomorrow, which hospital would you hopefully end up in (what city has good medical facilities). No, I'm not interested in a good mortuary, just a quality hospital. Thanks. --Rich--

[Stjohnm]

I'm with Bangkok Bank, they're the biggest in the country, they have overseas branches in London, New York & several other major cities, but if I were you I'd open an account at their Head office branch in Bangkok as international Banking isn't available at every branch. All the Banks are all fairly much the same though and offer a full range of service to meet your needs.

Edited April 7, 2011 by Stjohnm

[richardjm65]

Whichever bank you go with, if you open a savings account, check to ensure that interest will be paid on the credit balance. Beware! Krung Thai Bank does NOT pay interest to non-Thai account holders. It's been suggested that it's the government banks which discriminate in this way.

As for hospitals, that kind of depends on where you decide to settle. Korat's got several good ones, but those wouldn't be a lot of good to you unless you actually have your heart attack in Korat. So, choose a town to be near. Then enquire again.

[chuckd]

If you are talking about US Social Security, they will only deposit your funds to a Bangkok Bank account in Thailand.

SSA does not authorize any other bank and the account must be a specific Social Security account...no atm and you must present yourself with your passport in order to withdraw your funds.

[ubonrthai]

I've had accounts at Ayutthaya (yellow), Bangkok Bank (blue), SCB (Purple), and Kasikorn (green). The service at Kasikorn is by far the best in our experience and their online banking is way better than the others. You can connect it to PayPal as well. That's our experience and I've heard that from others as well over the years. All you need is your passport to setup an account.

We've had babies and surgeries at Bumrungrad in Bangkok. No complaints. It all depends on the doctor but Bumrungrad has the biggest selection of doctors and likely most qualified. I've had nothing but negative experiences in the provinces. If it's just a cold or flu we'll go to a local hospital to get tests and medicine but anything more serious and we're heading to Bangkok.

[chiang mai]

I don't think there's any such thing as a good hospital, just good doctors and in Thailand it can be very hit and miss. The better trained doctors tend to work in the private hospitals in Bangkok but even this guideline is not without problems. The trick is to find a good doctor who has overseas training in the particular area of whatever malady you may have, but if you come down with something that's just a little bit outside of the common everyday mainstream list of illnesses, you may have problems. Broken bones, lacerations and other ailments that are seen routinely should present little problems at most major hospitals, get something sexy and non mainstream though and you could be in trouble.

[321Rich]

Banks question clarification: I expect to deposit social security and a pension monthly into an American bank and then transfer money, as needed, to Thailand. So I still need that question answered. (What are a couple of stable banks in the Isaan area (cities please) that have American counterparts? (Like HSBC and CitiBank)?

Hospitals: Do any Isaan hospitals routinely treat people for heart attacks or strokes or do they simply stabilize the person and ship them off to Bangkok or some other location? Anyone had any first-hand experiences with either one of these conditions?

Thanks for any information...

[chiang mai]

Banks question clarification: I expect to deposit social security and a pension monthly into an American bank and then transfer money, as needed, to Thailand. So I still need that question answered. (What are a couple of stable banks in the Isaan area (cities please) that have American counterparts? (Like HSBC and CitiBank)?

Hospitals: Do any Isaan hospitals routinely treat people for heart attacks or strokes or do they simply stabilize the person and ship them off to Bangkok or some other location? Anyone had any first-hand experiences with either one of these conditions?

Thanks for any information...

You have a slightly incorrect perception of the state of medicine/health care in Thailand, in terms of medical capability the hospitals in the major cities in Isaan often don't differ very much from those in Bangkok so you should discard the image that only Bangkok hospitals are capable. As with many other places in the world however, the further you go into remote and poor areas, the less sophisticated the medical become.

As for banks: Bangkok Bank and Kasikorn Bank are both major Thai banks that have a limited international presence, Thai banks are not global players however but that doesn't mean that they can't easily fulfill all your banking needs. HSBC has only a single branch in Thailand and that's in Bangkok and I suspect that Citi is similar, given what you intend re money transfers I suspect that most people here will transfer from their American bank, to BB or Kasikorn and that works well enough. I transfer from a range of overseas banks, into and out of Thailand on a regular basis and there are no real issues.

[zzaa09]

I'm with Bangkok Bank, they're the biggest in the country, they have overseas branches in London, New York & several other major cities, but if I were you I'd open an account at their Head office branch in Bangkok as international Banking isn't available at every branch. All the Banks are all fairly much the same though and offer a full range of service to meet your needs.

As does SCB, but in the long run it's far more secure - for the obvious reasons.

[barryofthailand]

No problem with wire transfers to any bank in Thailand. With Bangkok bank you can do they call a ACH transfer using Bangkok Banks New York routing number, and a Bangkok bank account number here in Thailand. The transfer fees are minimal versus $35-$40.00 US at most banks for wire transfers.

Barry

[321Rich]

Thanks all for the valuable information. This gives me a frame of reference as to which city I may or may not wish to retired in. My living experiences have ranged from the sharecropper farm existence in rural Tennessee as a child to living in the inner city of Chicago for four years and eight other US states, I favor the quietness of the country (province) but recognize that decision to live there might prove to be fatal in the event of a major heart problem or stroke. The ability to get quality health care in such a case needs to be in minutes -- not hours or days. I also lost everything but one car and the clothes on my back when I had a home burn to the ground. We lived out in the country and it took the fire engines 28 minutes to reach the house. In a city that home might have been saved.

As for the bank, yes, I will open at least one Thai Bank account but still favor the few advantages of keeping money in American banks also. Wire transfers are some what expensive -- I would favor using that method only in emergencies, instead just write a check from an American Bank and deposit it in Thailand and wait the month or so for the money to show up is OK with me.

I have to keep at least one American bank account open since I plan to turn my home over to a property management company.

Thanks again. --Rich--

[chiang mai]

The ability to get quality health care in such a case needs to be in minutes -- not hours or days.

Just a quick note to help further your understanding of the situation here: unless you live next door to the hospital you are seriously unlikely to ever be within minutes of quality health care anywhere in Thailand. There is no emergency medical response system here to speak of and the concept of calling the paramedics on 911 doesn't exist, it doesn't really exist in practice in Bangkok so it certainly doesn't exist in Isaan therefore, if emergency and rapid response health care systems are your priority, perhaps you need to rethink Thailand as your destination

With all due respect to your hopes and plans, perhaps it would be best if you first visited Thailand on holiday before going further with all this!

[321Rich]

The ability to get quality health care in such a case needs to be in minutes -- not hours or days.

Just a quick note to help further your understanding of the situation here: unless you live next door to the hospital you are seriously unlikely to ever be within minutes of quality health care anywhere in Thailand. There is no emergency medical response system here to speak of and the concept of calling the paramedics on 911 doesn't exist, it doesn't really exist in practice in Bangkok so it certainly doesn't exist in Isaan therefore, if emergency and rapid response health care systems are your priority, perhaps you need to rethink Thailand as your destination

With all due respect to your hopes and plans, perhaps it would be best if you first visited Thailand on holiday before going further with all this!

[321Rich]

If one lives, say 45 minutes away from a hospital, in my mind that qualifies as "living within minutes of medical help". I didn't say anything about calling something like 911. I was simply trying to make a point that I did not want to live a couple of hours drive time to the nearest hospital.

[klikster]

You will probably need to set up a periodic automatic funds transfer with your bank in the US. Virtually any bank in Thailand can accept funds transfers. The US bank should transfer US funds rather than buying and transferring Baht.

Issan has a number of quality hospitals. The hospital with the best reputation (among the Thais) in Issan is Srinakirin in Khon Kaen. Si nakarin is associated with KK Uni. Their Sirikit Cardiac Center is supposed to rival any in Thailand. Since Srinakarin is a government hospital, the costs are somewhat lower than private hospitals, but service is also slower for non-emergency situations. Not sure about emergencies.

[kamalabob2]

321Rich: Many good replies to your questions, especially reply #10 and #15. You should take the time to read

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/FAQ%20new.aspx Which explains all about Bangkok bank and how it is EASY to set up inexpensive automatic deposits from your US Social Security or Pensions and in a manner that will save you considerable money and hassle. You will need two bank accounts (simple) at any branch of Bangkok Bank, but the one account CAN NOT have an ATM linked to the account. I have been banking on line with Bangkok Bank for over 6 years, it is easy and simple and for the most part free.

I have taken my wife to 11 different hospitals in Thailand, both high end famous Private hospitals and Government hospitals of various levels of facilities, actual medical devices, and motivated Doctors. Isaan does have ambulances, but not up to the level of equipment, respect from other drivers or EMS staffing you would hope. Fire Departments get paid to put out fires in Thailand and your rental house insurance or home owners insurance will have that provision. The trick is to have the valid phone number of your local fire department, local hospital, local police station, local Chinese Temple Ambulance Society, in your phone and written in Thai and English at your home.

Korat has two excellent Private Hospitals worth checking out, they both have web sites. The Bangkok Korat hospital is part of the largest chain of Private hospitals in Thailand and the St. Mary's Korat Hospital seems to have some decent Doctors, reasonable prices and a well priced and well run pharmacy. Many private Hospitals, have "mini bar profit margins" on any drugs bought for inside the hospital or for outpatient use.

Korat has many ready built homes for sale or rent that are in quiet neighborhoods, at fair prices, but not far from acceptable hospitals. Open your banking account in the TOWN you will be living, or close to that town, as Banks here do not easily allow you to perform some in branch procedures at any branch OTHER than the branch you opened the account. Fees for "out of area" simple transactions are pesky, but in my experience were better with bangkok Bank than two other banks I previously held accounts. Bangkok Bank will rent you a safety deposit box at a Thai price (very reasonable yearly fee, fair refundable key deposit) unlike some banks that just blow you off or have a Expat price for the same box.

Comprehensive Health insurance bought through a licensed native English speaking BROKER along with rental house insurance with the written policies in ENGLISH and Thai are readily available at fair prices. First class automobile insurance and fair motorbike insurance are very affordable in Thailand, again with policies in both Thai and English. You should consider buying both the near worthless (but mandatory) compulsory auto or motor bike insurance WITH the same respective First Class insurance. You do not want two different insurance companies disagreeing on how to handle a claim.

Even in a rental house you can easily obtain a "Yellow House Book", especially in Isaan, which will save you TIME and MONEY in many dealings with banks, Thailand Immigration, Thai version of the DMV, Utilities, etc.. No need to pay the fine people at the US Embassy ever again for a document that shows where you live or no need to travel and deal with Thai Immigration Government employees on the similar, but less costly paper, when a FREE, "yellow house book" saves you that hassle and needless expense.

I could not in good faith recommend the Buriram Government or Private Hospital, based on my personal experiences in the private hospital and my wife's experiences at both hospitals. If you read other parts of this Forum several US based credit cards are mentioned that do NOT charge a 2% or 3% "foreign transaction fee" including Capital One. Easy to pay on line from your USA bank account for a USA credit card you use in Thailand and not pay any fees here to use that card, and not pay and "foreign transaction / conversion fees". Easy to dispute a charge made in Thailand via your Capital One card, as some merchants or service providers in Thailand are a bit behind the curve on "customer satisfaction or your money back".

Internet of a decent speed is certainly possible in all TOWNS or CITIES, NOT all villages, in Isaan, and a MAGIC JACK phone device you set up in America with your local area code, can easily be used in Thailand for two way low cost communication with friends and banks.

On the Bangkok Bank web site in English are many answers including:

Do you receive regular payments from a US government agency? Save on fees!

If you receive regular payments from a government agency in the USA you can save on remittance fees by transferring funds directly into your Bangkok Bank account via the US Automated Clearing House system and Bangkok Bank's New York branch.

The above mentioned system also works for private pensions, a real genuine way to save fees.

Expat Banking - Frequently Asked Questions

Quickly find answers to your most commonly asked questions – to get started, choose one of the below categories:

Opening an account

Account balance & statements

Making deposits & withdrawals

ATM cards

Receiving funds into Thailand from overseas

Transferring funds overseas

Internet banking (Bualuang iBanking)

Closing a bank account

This answer to your question on a previous post is GOSPEL "The US bank should transfer US funds rather than buying and transferring Baht." They will COVERT to Baht at your local branch. Depositing your personal check from America into your Thai bank account and waiting for that check drawn on a US checking account will be a poor way to transfer funds for many reasons.

When you are on the ground in Thailand, take the time to walk into a Bangkok branch of HSBC or CITI bank and you will be glad you opened 2 accounts in YOUR Isaan town with Bangkok Bank. An expat of modest means attempting to bank with the THAILAND HSBC or CITI branch would find it a poor financial decision. You will find more working Bangkok Bank ATM's in Thailand than any other bank brand.

[cardholder]

Thanks all for the valuable information. This gives me a frame of reference as to which city I may or may not wish to retired in. My living experiences have ranged from the sharecropper farm existence in rural Tennessee as a child to living in the inner city of Chicago for four years and eight other US states, I favor the quietness of the country (province) but recognize that decision to live there might prove to be fatal in the event of a major heart problem or stroke. The ability to get quality health care in such a case needs to be in minutes -- not hours or days. I also lost everything but one car and the clothes on my back when I had a home burn to the ground. We lived out in the country and it took the fire engines 28 minutes to reach the house. In a city that home might have been saved.

As for the bank, yes, I will open at least one Thai Bank account but still favor the few advantages of keeping money in American banks also. Wire transfers are some what expensive -- I would favor using that method only in emergencies, instead just write a check from an American Bank and deposit it in Thailand and wait the month or so for the money to show up is OK with me.

I have to keep at least one American bank account open since I plan to turn my home over to a property management company.

Thanks again. --Rich--

I think your priorities are misplaced.

1. Banking is the least of your concerns. No Thai bank has a global presence and you don't need one. Depositing a US cheque in a local Thai bank is about as antiquated as you can get.

If your income is in Dollars it is likely that all receipts will go into your US Bank (I think you suggested that Social Security payments would not go direct to Thailand). Set up an Internet banking system in USA and in Thailand. I find Kasikorn most user friendly and there a multitude of topics on the most effective way of transferring funds.

2. Hospitals. You are more likely to die en-route if the initial treatment is not adequate. Make sure you/someone has evidence of cash or insurance readily available. My limited knowledge of hospitals in Buriram and Surin is that they are perfectly adequate for basic/essential requirements.

3. General - come and live in Isaan for month with an open-mind and explore the area to see what you like. Invariably, where you reside will be determined by your Thai partner.

[321Rich]

Thanks Kamalabob2,

I certainly hope you "copied and pasted" that long response and did not have to "hunt and peck" your way thru it!!

It seems like excellent advice. I will copy it and hold for record, just in case I lose site of the post.

Thanks again, --Rich--

[zzaa09]

You have a slightly incorrect perception of the state of medicine/health care in Thailand, in terms of medical capability the hospitals in the major cities in Isaan often don't differ very much from those in Bangkok so you should discard the image that only Bangkok hospitals are capable. As with many other places in the world however, the further you go into remote and poor areas, the less sophisticated the medical become.

As modern health care has turned to less treating the cause, but blindly over-prescribing pharmaceuticals needlessly. A very nasty conditioning that Thai medical circles have learned from their Western allopathic brothers.

[thedi]

A general good and very expensive hospital is Khon Kaen Ram Hospital

Sri Chan Road, west of Mittrapap Highway, easy to see from Central Plaza shopping center

043-333800 http://www.khonkaenram.com/

For heart problems there is http://www.heart.kku.ac.th/en/ 043 203 080 Queen Sirikit Heart center of the Northeast.

It is on the Mittrapap Highway, leaving Khon Kaen north, (direction to Udon-Nong Khai) on your left, just before you reach Sri Nokarind Hospital (which is also very good). Both belong to the University and are about 2 km from center of town.

A third one in Khon Kaen is Ratchapruek Hospital

150/19 Mittraphap 043-333557 about 300 meters from Khon Kaen Ram to the north. Less expensive than Khon Kaen Ram.

The 'Ram' hospitals can be found in many cities of Isaan. The one in Khon Kaen has an especially good name. On the other hand it is known that they call doctors from the cheap government hospital (called soon) for difficult operations. Hence: you could get the same doctor there for a fraction of the price. But the environment and nurses are much nicer in Khon Kaen Ram.

Regards

Thedi

[Sateev]

1) Have your Social Security payments deposited into a US bank account.

2) Open a Bangkok Bank savings account with ATM card.

3) Go to Bangkok Bank's website and search for ACH. It will explain how to set up transfers from your US bank, using Bangkok Bank's NY branch routing number, and your local account number.

By doing it this way, you will save a lot of money on transfer fees, and the funds are generally available in 3 business days. There is a verification procedure when setting up the initial link between your US bank and Bangkok Bank, but you can get it sorted over the phone, by (presumably) lovely, English-speaking staff, who know exactly what you want, and are very helpful.

Never had so much as a hiccup, after many transfers.

Good luck.

[chuckd]

1) Have your Social Security payments deposited into a US bank account.

2) Open a Bangkok Bank savings account with ATM card.

3) Go to Bangkok Bank's website and search for ACH. It will explain how to set up transfers from your US bank, using Bangkok Bank's NY branch routing number, and your local account number.

By doing it this way, you will save a lot of money on transfer fees, and the funds are generally available in 3 business days. There is a verification procedure when setting up the initial link between your US bank and Bangkok Bank, but you can get it sorted over the phone, by (presumably) lovely, English-speaking staff, who know exactly what you want, and are very helpful.

Never had so much as a hiccup, after many transfers.

Good luck.

May I provide my experience in receiving SSA payments?

Social Security makes direct deposits of my funds into my account at Bangkok Bank each month. The funds are there and available for my withdrawal normally on the 3rd or 4th of each month, although this month it was the 1st of April. I receive an SMS each month from BKK Bank that says the following...

______________________________________________________

Sent:

10:41:12

1-Apr-2011

US TREASURY 303 has transferred THB xxxxxxxx (USD [email protected] - THB200) from abroad into

484XXXXXXX.

Sender Bangkok Bank

______________________________________________________

I then take my passport and passbook, go to BKK Bank and withdraw my funds. I had my money in hand by 1400 hours on the first for a total fee of 200 Baht.

Can you tell me how much your ATM and bank transfer fees are each month. I find it had to believe your bank transfer fees are less than 200 baht and wonder when you get your funds delivered in Thailand each month.

Oops. I forgot there is a fee of 60 baht if you withdraw your funds at any branch other than the one you have your account set up in. My account is set up in Pattaya and I withdrew my money in the BKK Bank branch at Lotus in Loei. You can withdraw your funds at any BKK Bank branch in Thailand for this small fee.

[daiwill60]

A very wide source of information in this reply, thank you so much.

I am currently living in a shared family house with my wife in Mahasarakham , while waiting for our house to be built. I am investing money into the building of the house and accept i will never really own it or the land it stands on. I presume my name will be going on the deeds when it is completed or is that a stage that should already have been done?? ( the work started before i moved over in March).

However i am interested in knowing if i would need one of these YELLOW HOUSE BOOKS you mention, and where if so, do i get one?

321Rich: Many good replies to your questions, especially reply #10 and #15. You should take the time to read

http://www.bangkokba.../FAQ%20new.aspx Which explains all about Bangkok bank and how it is EASY to set up inexpensive automatic deposits from your US Social Security or Pensions and in a manner that will save you considerable money and hassle. You will need two bank accounts (simple) at any branch of Bangkok Bank, but the one account CAN NOT have an ATM linked to the account. I have been banking on line with Bangkok Bank for over 6 years, it is easy and simple and for the most part free.

I have taken my wife to 11 different hospitals in Thailand, both high end famous Private hospitals and Government hospitals of various levels of facilities, actual medical devices, and motivated Doctors. Isaan does have ambulances, but not up to the level of equipment, respect from other drivers or EMS staffing you would hope. Fire Departments get paid to put out fires in Thailand and your rental house insurance or home owners insurance will have that provision. The trick is to have the valid phone number of your local fire department, local hospital, local police station, local Chinese Temple Ambulance Society, in your phone and written in Thai and English at your home.

Korat has two excellent Private Hospitals worth checking out, they both have web sites. The Bangkok Korat hospital is part of the largest chain of Private hospitals in Thailand and the St. Mary's Korat Hospital seems to have some decent Doctors, reasonable prices and a well priced and well run pharmacy. Many private Hospitals, have "mini bar profit margins" on any drugs bought for inside the hospital or for outpatient use.

Korat has many ready built homes for sale or rent that are in quiet neighborhoods, at fair prices, but not far from acceptable hospitals. Open your banking account in the TOWN you will be living, or close to that town, as Banks here do not easily allow you to perform some in branch procedures at any branch OTHER than the branch you opened the account. Fees for "out of area" simple transactions are pesky, but in my experience were better with bangkok Bank than two other banks I previously held accounts. Bangkok Bank will rent you a safety deposit box at a Thai price (very reasonable yearly fee, fair refundable key deposit) unlike some banks that just blow you off or have a Expat price for the same box.

Comprehensive Health insurance bought through a licensed native English speaking BROKER along with rental house insurance with the written policies in ENGLISH and Thai are readily available at fair prices. First class automobile insurance and fair motorbike insurance are very affordable in Thailand, again with policies in both Thai and English. You should consider buying both the near worthless (but mandatory) compulsory auto or motor bike insurance WITH the same respective First Class insurance. You do not want two different insurance companies disagreeing on how to handle a claim.

Even in a rental house you can easily obtain a "Yellow House Book", especially in Isaan, which will save you TIME and MONEY in many dealings with banks, Thailand Immigration, Thai version of the DMV, Utilities, etc.. No need to pay the fine people at the US Embassy ever again for a document that shows where you live or no need to travel and deal with Thai Immigration Government employees on the similar, but less costly paper, when a FREE, "yellow house book" saves you that hassle and needless expense.

I could not in good faith recommend the Buriram Government or Private Hospital, based on my personal experiences in the private hospital and my wife's experiences at both hospitals. If you read other parts of this Forum several US based credit cards are mentioned that do NOT charge a 2% or 3% "foreign transaction fee" including Capital One. Easy to pay on line from your USA bank account for a USA credit card you use in Thailand and not pay any fees here to use that card, and not pay and "foreign transaction / conversion fees". Easy to dispute a charge made in Thailand via your Capital One card, as some merchants or service providers in Thailand are a bit behind the curve on "customer satisfaction or your money back".

Internet of a decent speed is certainly possible in all TOWNS or CITIES, NOT all villages, in Isaan, and a MAGIC JACK phone device you set up in America with your local area code, can easily be used in Thailand for two way low cost communication with friends and banks.

On the Bangkok Bank web site in English are many answers including:

Do you receive regular payments from a US government agency? Save on fees!

If you receive regular payments from a government agency in the USA you can save on remittance fees by transferring funds directly into your Bangkok Bank account via the US Automated Clearing House system and Bangkok Bank's New York branch.

The above mentioned system also works for private pensions, a real genuine way to save fees.

Expat Banking - Frequently Asked Questions

Quickly find answers to your most commonly asked questions – to get started, choose one of the below categories:

Opening an account

Account balance & statements

Making deposits & withdrawals

ATM cards

Receiving funds into Thailand from overseas

Transferring funds overseas

Internet banking (Bualuang iBanking)

Closing a bank account

This answer to your question on a previous post is GOSPEL "The US bank should transfer US funds rather than buying and transferring Baht." They will COVERT to Baht at your local branch. Depositing your personal check from America into your Thai bank account and waiting for that check drawn on a US checking account will be a poor way to transfer funds for many reasons.

When you are on the ground in Thailand, take the time to walk into a Bangkok branch of HSBC or CITI bank and you will be glad you opened 2 accounts in YOUR Isaan town with Bangkok Bank. An expat of modest means attempting to bank with the THAILAND HSBC or CITI branch would find it a poor financial decision. You will find more working Bangkok Bank ATM's in Thailand than any other bank brand.

[jfchandler]

For someone wanting to move funds from the U.S. to Thailand, Bangkok Bank and their internal transfer system thru their New York Branch is the best deal available...as fast as and much more economical than doing traditional wire transfers, which can be done from pretty much any U.S. bank to any Thai bank...but at a usually expensive price.

http://www.bangkokba...from%20USA.aspx

http://www.bangkokba...0USA%20Fee.aspx

There is another option, depending on whether you have an AEON ATM near where you're going to be living. Since the AEON ATMs (only) do not charge the 150 baht withdrawal fee when foreign ATM cards are used, a more economical option than even BKK Bank's route is having your pension or SS check deposited into a U.S. bank account like Charles Schwab or Capital One that don't charge foreign currency transaction fees, and then using that bank's ATM card here to withdrawal the funds from an AEON ATM. In that manner, you pay 0 fees to anyone and get better than a buying TT exchange rate on your funds.

Another alternative option is to use a U.S. bank (not any of the majors) that don't charge a foreign currency transaction fee and DO reimburse foreign banks' ATM fees, like Schwab. In that case, you could use regular Thai bank ATMs and Schwab will reimburse those fees -- though many of us with Schwab accounts try to use AEON ATMs so as to minimize the number of $5 Thai bank ATM fee reimbursements that are being put through. E*Trade, for example, with qualifying accounts, also reimburses Thai bank ATM fees, though last year they did begin charging a 1% foreign currency fee on ATM withdrawals.

The advantage of keeping your Social Security check deposited into a U.S. account is you don't have to physically go to the branch each month and sign for the funds, as you would with a Thai bank, which is the U.S. govt's way of ensuring that someone else hasn't offed you and then showing up every month to collect your SS check.

You can use the BKK Bank links I've posted above to get a pretty clear sense, base on the amount of income you'll be receiving each month, how much in the way of fees the monthly transfer would cost. Then you can decide whether it's preferable to any of the other U.S. based options.

BTW, the two non-Thai banks the OP mentioned, CitiBank and HSBC, are limited under Thai law/regulations to only being allowed a single location in the country. In HSBC's case, it's a branch near the Saladaeng BTS station, and in CitiBank's case, it's their Thailand HQ near the Asoke BTS station, both in Bangkok. No banking presence of either up country...

The CitiBank location at Asoke is good, however, in that it's the only other location in Thailand that I'm aware of, besides AEON's locations, that doesn't charge the Thai banks' 150 baht ATM fee on withdrawals... though the exchange rate from the CitiBank ATMs there isn't quite as good as the AEON ATMs.

HSBC from the U.S. to Thailand is generally a bad deal in terms of fees and poor exchange rates -- unless you happen to have their Premier account, which usually requires combined deposits or investments of $100,000+, in order to qualify, or pay a $50 a month account fee. With Premier status, though, HSBC supposedly offer a decent internal international funds transfer method.

Edited April 13, 2011 by jfchandler

[jfchandler]

As for the bank, yes, I will open at least one Thai Bank account but still favor the few advantages of keeping money in American banks also. Wire transfers are some what expensive -- I would favor using that method only in emergencies, instead just write a check from an American Bank and deposit it in Thailand and wait the month or so for the money to show up is OK with me.

I'm not sure the "writing a U.S. check" method is a smart way to go... Depending on the Thai bank, you can expect two weeks to a month before the funds become available/clear. And, last time I checked, the per check fee at Siam Commercial was somewhere in the 200 to 300 baht per check range. And I'm not sure what kind of exchange rate the bank would be giving in that situation.

Most of the veteran people here in similar situation, who want to keep the bulk of their funds in the U.S., seem to do either a monthly or quarterly transfer of funds via the Bangkok Bank internal transfer method, and gain the benefit of having the funds available within a couple days (not weeks) and paying far less in fees than a traditional wire transfer.

The typical approach is to have your U.S. pension and Social Security checks direct deposited to a U.S. bank account that provides free outgoing ACH transfers.... And then send those funds via free ACH from your U.S. bank to your local Thailand branch of BKK Bank, using the BKK Bank internal transfer method described in the links above. To send those funds via ACH, you you use the ACH routing number for BKK Bank's New York branch, and then the account number for your BKK Bank Thailand account.

Or, if you happen to be living in the area of an AEON ATM as I've mentioned and/or have a U.S. bank that doesn't charge a foreign currency fee and reimburses other banks' ATM fees, then you'd never have to pay a dime to transfer funds. Just use that ATM card at any Thai bank ATM and get the full exchange rate, and withdraw your funds as you need them -- provided you understand that typically Thai bank ATMs will dispense 25,000 baht or so per transaction... though AEON's ATMs will dispense even more... But be aware your U.S. bank probably also has a daily limit on ATM withdrawal amounts, typically $500 to $1000 U.S. per day, though those often can be adjusted upon request, depending on your needs.

Edited April 13, 2011 by jfchandler

[jfchandler]

BTW, since another poster mentioned it above, using the MagicJack USB phone device -- which provides free, unlimited phone calling to any numbers in the U.S. and Canada -- for an initial purchase of about $40 and then subsequent annual fees of $20 per year is, IMHO, a must have for any American living here... though others make use of Skype or other VOIP services... For calls back to the U.S. to deal with property managers, banks, credit card companies, government agencies, etc etc etc... it's an invaluable thing to have...in addition to giving you a U.S. based phone number in the area code of your choice.

And another piece of advice, life insurance provided by Thai companies generally suck and is way overpriced...and of questionable reliability. If your personal situation is one where you need life insurance or think you might for the future, such as in providing for a future wife or such, get that life insurance in the U.S. before you leave... And make sure the policy you're taking out doesn't have any restrictions or limitations on future travel... such as spending time in Thailand.

[citizen33]

Issan has a number of quality hospitals. The hospital with the best reputation (among the Thais) in Issan is Srinakirin in Khon Kaen. Si nakarin is associated with KK Uni. Their Sirikit Cardiac Center is supposed to rival any in Thailand. Since Srinakarin is a government hospital, the costs are somewhat lower than private hospitals, but service is also slower for non-emergency situations. Not sure about emergencies.

This is the correct answer re the hospital question. The provincial hospitals in many Isaan cities are okay but not in the same league as Srinakarin. Counter-intuitively to many from the USA the private hospitals in Isaan are often quite poor. Some have good hotel services, and hire doctors who also have appointments at a major government hospital, but usually do not have high tech facilities such as scanners.

[kamalabob2]

To Daiwill60:

The ownership of land is via the various "land papers", most often in a Thai citizen name. However if you BUILD a home, then of course you would want to obtain a "permit to build" from the appropriate local government office. That staff will look over your plans, perhaps suggest or mandate a change if not up to the Thailand building codes, and you can be assured your electrical plan will then proceed without delay at the PEA electric office. In my case, I needed to prove where I lived, PRIOR to obtaining a "permit to build" so it was free and easy for me to obtain a yellow house book based on living in a house OTHER that the house I was paying to have built. Plenty of postings on how to obtain the FREE Yellow house book, and just ONE of the many Government processes that demand a "prove your residence" was the "permit to build". So with my brand new "Yellow house book" showing an address in a town other than where I was building a home, I was able to collect the "permit to build" in a short time.

You do NOT need a Yellow House book to obtain a "permit to build", but it was free unlike the other two choices. The "Permit to build" can be in a Farang name, a Thai name or jointly. In my case it is in my name only.

The approved "permit to build" would come in very handy if you ever needed to make a home insurance claim. I "own" the house I live in, my wife owns the land. I obtained a yellow house book PRIOR to being married. It was simple and free to transfer my address and get a new Yellow House book from one city to the actual city where I currently live.

Because we had a "permit to build" we did not have any run around obtaining new water service, electric service or a "house number". It is dirt cheap to have a "permit to build" since it is based on square meter of the building you want to build. It is Thai priced, not Farang priced.

The house plans could have been the "free government house plans" or in our case house plans done by a licensed Thai architect and licensed Thai structural engineer. Neither had professional liability insurance, nor is that required, but they had to list their license on the plans we submitted.

[zzaa09]

To Daiwill60:

The ownership of land is via the various "land papers", most often in a Thai citizen name. However if you BUILD a home, then of course you would want to obtain a "permit to build" from the appropriate local government office. That staff will look over your plans, perhaps suggest or mandate a change if not up to the Thailand building codes, and you can be assured your electrical plan will then proceed without delay at the PEA electric office. In my case, I needed to prove where I lived, PRIOR to obtaining a "permit to build" so it was free and easy for me to obtain a yellow house book based on living in a house OTHER that the house I was paying to have built. Plenty of postings on how to obtain the FREE Yellow house book, and just ONE of the many Government processes that demand a "prove your residence" was the "permit to build". So with my brand new "Yellow house book" showing an address in a town other than where I was building a home, I was able to collect the "permit to build" in a short time.

You do NOT need a Yellow House book to obtain a "permit to build", but it was free unlike the other two choices. The "Permit to build" can be in a Farang name, a Thai name or jointly. In my case it is in my name only.

The approved "permit to build" would come in very handy if you ever needed to make a home insurance claim. I "own" the house I live in, my wife owns the land. I obtained a yellow house book PRIOR to being married. It was simple and free to transfer my address and get a new Yellow House book from one city to the actual city where I currently live.

Because we had a "permit to build" we did not have any run around obtaining new water service, electric service or a "house number". It is dirt cheap to have a "permit to build" since it is based on square meter of the building you want to build. It is Thai priced, not Farang priced.

The house plans could have been the "free government house plans" or in our case house plans done by a licensed Thai architect and licensed Thai structural engineer. Neither had professional liability insurance, nor is that required, but they had to list their license on the plans we submitted.

Well done and constructed advice, Bob. An added note that most of this insidious bureaucracy wouldn't apply to second or third structures on said property.

[RichinThailand]

I have a suggestion for your banking concerns.

Open a Bangkok Bank Savings account, and get internet banking with that. It is easy to use!

While still in the USA, open an ING Orange Savings Account. It also has internet banking. After 30 days you can attach up to three other accounts to your Orange account.. This includes your Bangkok Bank savings account (even though it says a few places that it has to be a checking account). Also attach your checking account from your current or any other US bank.

Now, by internet, you can move your money from your US account to ING, and then from ING to Bangkok Bank. No transfer fees, no problems. Your money you move TO ING is available in seven days (interest paid from day one), and the money from ING to Bangkok Bank takes from 2-4 days (was five days once because of holidays) All the money is moved on the ING website both to and from ING.

Has been working well for me for three years, and no transfer fees. I get the exchange rate of Bangkok Bank on the day the money arrives.