Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[claire2011]

Any feed back on a simple, affordable bank, not necessarily Thai, for easy, not overpriced online banking? Would like to hold Pound/Euro & $ accounts. Nice if could be opened online/by mail? Thank you. CL

[glanville63]

Hi Claire. I found Kasikhorn Bank is quite user friendly. You can open currency accounts for free with them unlike Krungthia bank where you have to deposit at least £2,000 or the equivalent in whatever currency account you want. Kasikhorn will charge you £15 to transfer £20,000 into your account from your overseas bank but will not charge for you to transfer it to your Thai baht account with them as and when the exchange rate is benificial. If you're looking for an account to do some currency dealing, I haven't any info on those. G63

[PattayaParent]

Depends whether you want savings accounts or current accounts

I use Standard Bank Isle of Man for my current accounts.

You can hold the 3 currencies you mention, no monthly fees if you maintain the minimum balance (£3,000, $5,000, EUR5,000) and can get debit cards.

http://www.sboff.com/portal/site/offshore/menuitem.e4b62e3a13a6c1d61413ac533d9006a0/?vgnextoid=7101ddfcb3278210VgnVCM100000d309600aRCRD

http://www.sboff.com/portal/site/offshore/menuitem.e4b62e3a13a6c1d61413ac533d9006a0/?vgnextoid=922c0ad8d9e18210VgnVCM100000d309600aRCRD

[PattayaParent]

^online transfers in sterling cost £15 and in $25, don't konw about Euro but probably something equivalent.

They also do accounts in AUS$ and ZAR.

[chiangmaibruce]

You have noted that you need access to foreign currency accounts and online banking but you probably need to provide more info about your banking needs & habits to get useful bank recommendations.

For example, in terms of transfers: How often? Typically from where to where? large or small amounts? If for example you are doing many transfers then this may well be a priority over other variables in choosing a bank. Clearly you will still need access to a bank in Thailand (Thai or foreign) if you are regularly transferring to Thailand. In this situation if, for e.g. you were usually transferring USA to Thailand then you might opt for Bangkok Bank to save on transfer fees by using their NY office. BKK Bank also offer foreign currency accounts (use thaivisa forum search for prior threads on that topic, and the topic of transferring funds to Thailand)

Extremely unlikely in this day and age that any bank will let you open an account online or by mail (think money laundering)

[PattayaParent]

International offshore branches of banks allow you to open accounts online or by mail.

How long would Isle of Man or Jersey banks last if every customer had to go there in person to open an account??

[chiangmaibruce]

International offshore branches of banks allow you to open accounts online or by mail.

How long would Isle of Man or Jersey banks last if every customer had to go there in person to open an account??

aha. In that case I stand corrected PP :jap:

[noodle]

International offshore branches of banks allow you to open accounts online or by mail.

How long would Isle of Man or Jersey banks last if every customer had to go there in person to open an account??

Maybe it depends on your nationality or other. For instance to open an account in Dubai or HK, there was a requirement to present oneself a few years ago.

[Darrel]

International offshore branches of banks allow you to open accounts online or by mail.

True enough, but there are a number of hoops to be jumped through regarding ID verification. Some banks (Santander) are significantly worse than others in this respect.

[Darrel]

You can hold the 3 currencies you mention, no monthly fees if you maintain the minimum balance (£3,000, $5,000, EUR5,000) and can get debit cards.

That doesn't sound a very good deal. With some other big banks you can get currency accounts with debit cards, that pay interest and also charge no monthly fees.

[PattayaParent]

You can hold the 3 currencies you mention, no monthly fees if you maintain the minimum balance (£3,000, $5,000, EUR5,000) and can get debit cards.

That doesn't sound a very good deal. With some other big banks you can get currency accounts with debit cards, that pay interest and also charge no monthly fees.

Not found one. Please enlighten me.

Standard also pay the same miserably low interest rates as other banks though.

[PattayaParent]

International offshore branches of banks allow you to open accounts online or by mail.

True enough, but there are a number of hoops to be jumped through regarding ID verification. Some banks (Santander) are significantly worse than others in this respect.

ALL banks require you to verify your ID.

Something to do with paranoid Americans?

[Darrel]

Not found one. Please enlighten me.

LloydsTSB pays higher rates on all three currencies. Nationwide worth a look also as their offer may suit some people.

[PattayaParent]

Not found one. Please enlighten me.

LloydsTSB pays higher rates on all three currencies. Nationwide worth a look also as their offer may suit some people.

You're right that Lloyds don't have monthly charges, they have a yearly charge instead on their current accounts.

Nationwide website doesn't say anythng about current accounts or debit cards but then the OP hasn't been back to confirm whether he wants current / savings, debit / credit cards, cheque books or what.

[Darrel]

Why get a current account? A savings account should be perfectly suitable as one can make all the usual payments from them.

[PattayaParent]

Why get a current account? A savings account should be perfectly suitable as one can make all the usual payments from them.

Direct Debit?

Cheque Book?

and many will not give debit cards, and what about credit cards?

As I said, it all depends on what the OP wants as to what will satisfy his / her needs.

Edited December 21, 2011 by PattayaParent

[Darrel]

As far as I know DDs and DCs work from the Lloyds savings account, and they do debit cards. Personally I only ever used BACS payments, and not many of them.