Banking - Interest And Fee!

[..::LegalAlien::..]

I've heard that Thaksin is going to/has changed the way that bank accounts are handled for foreigners. Apparently non-resident foreingers will no longer earn interest on their Thai accounts, and will incurr a 500 Baht "Administration" Fee per month for the pleasure of having a bank account in Thailand!

Has anyone else heard of this (or is it just one of those rumours that go about)?

[monitorlizard]

I just opened another account at Bank of Asia. They want you to have a work permit or house resident card to open an account. I called HSBC and they charge a 500 baht fee for balances under a certain amount.

Don't listen to rumors. Bangkok Bank seems to be letting people open accounts. The interest now is .75% for passbooks and 1% for mailed statements. You are charged a 15% tax rate for the interest you earn.

So, you are not going to make any real money on interest in banks in Thailand. Bank officials at banks are saying that you need to have a work permit. I have heard Bangkok Bank only requires a passport.

Just go to the banks. Don't listen to me or anyone else. I get the impression it is a hit or miss.

[dr_Pat_Pong]

SCB head office is not interested in whether you have a WP or not

[Thetyim]

I have heard the same rumour about zero interest.

I was told that it was in the Thai press.

Still do not know if it is true or not.

[Pink Mist]

Dont open a bank account in Oz then, you get slugged for everything.

[dr_Pat_Pong]

or more. I am old enough to remember when banking was an honorable profession

[Pink Mist]

But are you old enough to remember when soliciting whoops sorry solicitating whoops lawyer was an honest profession.

[dr_Pat_Pong]

It has never been an honest profession.

[maerim]

What do you call a thousand dead lawyers?

An excellent start.

[warriors]

Hi all well I have just returned from LOS and found to my dismay that i could not open a bank account with out a WP.

I tryed 2 different banks at 2 different placers and stood infront of the teller with 250,000 bart in cash in my hand from selling some gold that i brought in the day b4.

Both said no thanks WP then we will so whats the truth I ma comming back in FEB and selling some more gold and will have cash again.

What I did to get over the problem was to use my girl friends ( of 3 years) who lives with me in New Zealand (sisters account sister lives in Bangkok) that I have the atm card and pin number. I deposited the cash and used some of it while in thailand for 30 days.

As you know that not the best way to control your own money but what was I suppose to do with all that cash and as you know we do like to spend money when on vacation by ones self.

So I look forward to how to get over this problem I really need my own thai bank account help plzzzzzzzzzz.

[JoeLloyd]

As Dr. Pat Pong indicated above, check the head branch of Siam Commercial Bank

http://www.scb.co.th/eng/eng_main.shtml

He said they do not care if you have a work permit. I am in the same boat as you, and when I arrive in thailand in march I will be trying to open a bank account here. Let me know if you have any success.

[JoeLloyd]

This is the exact URL to the type of account you want:

http://www.scb.co.th/eng/eng_main_retail_f...nresident.shtml

[dr_Pat_Pong]

Thanks for that JoeL ...and it is quite clear to me that an account without a WP is not a problem

[Roger13]

Joel,

I looked at the SCB Non-Resident Account - thanks for the info

BUT - It looks like they do not issue an ATM Card on that Account??

Is that correct - do you know?

Roger

[dr_Pat_Pong]

look again, they do, it is shown under cards.