Thai and Cambodian press warn of escalating tensions following Miss Grand scandal

[SLESQ]

A well known but in Thailand a little established bank seeks to lure expats to entrust our money with it. This bank currently engages in a nation-wide advertising campaign to entice expats to bank with them in new branches to be formed in Thailand. In their advertisements this bank asks that we “Learn why expats have specific banking needs, and how [this bank] can help.”

I think the Thai expat community must learn what this bank does! It is NOT helpful at all. I have banked with this company in both Hong Kong and Ho Chi Minh City (HCMC) since 1994. Some time in the past 12 months the HCMC branch of this bank closed my account there with absolutely no notice to me or to my bank authorized HCMC representative.

When on Tuesday I found this out, senior staff at the current sole branch of this bank in BKK told me they cannot be of any assistance “as the HCMC office is a wholly different organization.”

Yesterday the HCMC branch senior staff wrote to me to say they will start to consider if I can have access to my own funds ONLY if I personally go to the BKK or HCMC branch to start their process of re-opening my account that the bank wrongfully closed!!

This is NOT the type of banking service any Expat wants or needs!!

I have no current need to go to either BKK or HCMC but now must go to that expense of money and time if I am to meet the needs of the bank that cares not at all about this Expat’s needs to receive proper and timely notice, and to save money and time.

This bank seeks to expand in Thailand and widely advertises for Expats to use their services. I wonder if others have also suffered at the hands of this bank or other banks that seek to draw Expats to open accounts.

Is there some way that this bank can be properly addressed to allow me access to my funds?

What can we do before more Expats in Thailand are sucked in and caused to similarly suffer a loss of use of their funds by this and other banks?

[Tafia]

What can we do before more Expats in Thailand are sucked in and caused to similarly suffer a loss of use of their funds by this and other banks?

Name the Bank

[chiang mai]

I'm happy with the bank you refer to and have been so for many years, whatever you did to screw things up you need to get over it and sour grapes is not the way!

[Tywais]

What can we do before more Expats in Thailand are sucked in and caused to similarly suffer a loss of use of their funds by this and other banks?

Name the Bank

Not unless he wants this topic deleted. No name & shame allowed for libel reasons.

[elektrified]

The name was there a few minutes ago. But I agree. Obviously you did not follow the terms of the agreement that you signed when you opened the account.

[cardholder]

What can we do before more Expats in Thailand are sucked in and caused to similarly suffer a loss of use of their funds by this and other banks?

Name the Bank

Not unless he wants this topic deleted. No name & shame allowed for libel reasons.

Then that makes the thread pointless (which it is anyway because it is just a personal rant) and should be closed.

[Tywais]

Then that makes the thread pointless (which it is anyway because it is just a personal rant) and should be closed.

Read the OP, the last 3 sentences are requesting advise. If you have none, than don't read anymore or post - simple as that.

[Tafia]

How can we comment if we dont know who he is talking about?

Cardholder is right, advice or experience cannot be given unless we know who he is referring to so it just becomes a worthless rant.

Edited December 31, 2011 by Tafia

[cardholder]

Then that makes the thread pointless (which it is anyway because it is just a personal rant) and should be closed.

Read the OP, the last 3 sentences are requesting advise. If you have none, than don't read anymore or post - simple as that.

I read the OP which was why I gave the reply I gave.

Without the name of the bank one cannot direct the advice appropriately - I think that would be obvious.

I may have plenty advice to offer, having working in banking for over 30 years - probably for the "bank who cannot be named".

[true blue]

ive banked with the bank that can not be named for 40 years,and not had any proplems,though it did have a different name when i joined,lol.

[TallGuyJohninBKK]

I'd say it's pretty clear what bank the OP is talking about...

Just think of the international bank that's regularly advertising here on ThaiVisa for expat banking services...

[cardholder]

The advice would be to write to a named personal at the group HQ outlining the FACTS of your situation and the outcome that you wish to achieve.

Frankly, the banks are rarely wrong (although mistakes are inevitable) and this is probably the best bank - certainly in global terms - in the world). It is not normal for banks to close accounts without reason - even dormant accounts are left for a minimum of 24 months.

Unfortunately, I cannot provide the address as this incorporates the bank's name.

Try Googling - How do I complain to "the bank that must not be named"

(obviously, you will have to insert the name when Googling )

[SLESQ]

Thank you all for your comments, even those that presume that expats are always in the wrong.

Cardholder is correct but for the fact that the branch did mess up. My local representative and I have made requests all week long for a copy of any one of the "statements and mails sent to your cornerstone address." See the operative paragraph here:

We are sorry to inform you that we are unable to reactivate your unclaimed account via personal email cause there was no withdrawal transaction for rather long time (12-month), particularly when your current email is not prior registered with the Bank. Moreover, we also note that all of statements and mails sent to your cornerstone address were returned. Hence, please update another address when you come back Vietnam.

The person in charge either does not know the facts about which she writes, or she intentionally distorts them: (1) We changed to electronic banking in 2008; (2) No bank statements have been mailed (by post office) since that time; (3) the e-mail address of me and my local, branch authorized representative are on on file with the branch; (4) the branch has earlier corresponded with me at my e-mail address they have on record and no notice was ever sent to me by Email; (4) a repetitive glitch in the branch web site has frequently denied me and my authorized HCMC representative from seeing statements on line and complaints have been regularly sent to the branch by me by e-mail and by the local representative in person; (5) we had been following the status of the account by going to a local ATM to get a balance but as there has been no business in HCMC for a while, we stopped looking that way; (6) no notice by post or e-mail has been received by my authorized representative who has been in his executive position with me for 18 years and is far more trustworthy then this bank ... witness the bank errors noted in 1-4, above.

The account was dormant perhaps for as long as 12 months as claimed; but the account was also closed without any notice or even adequate notice. The bank has post and e-mail addresses for both me and my local Representative and to date has completely failed to show even one of "all " the correspondence purportedly sent to a "cornerstone address."

What galls is not alone the closing of the account without notice, but the complete failure to allow the account to be reopened absent an in person visit to a branch. I am in remote Chiang Mai; the nearest branch is BKK about a US$ 400 and at least 2-day trip for me; the next closet branch is in HCMC about a US $ 1,000 2-3 day trip. Writing off the approximate US$ 500 balance is not a back-breaker but given the failure of the bank to act properly (ya, even organizations and people with good reputations are not always deserving of their good reputations), this may well be just the first of many challenges this bank has perhaps hidden.

Thus my request again: has anyone reading this forum suffered the closure of an account without any notice? And if yes, did you need to make an in person visit to re-open the account or is there some more convenient method available? I have suggested and the bank rejected having the US Consulate, a local bank, or even the Thai Ministry of Foreign Affairs verify my signature on the documents the bank "needs."

Again thanks for your helpful comments; and yes, I have intentionally not named the bank for all the obvious reasons.

[cardholder]

As indicated before - time to write to HQ

[KHR1010]

I had a serious issue with this bank on a corporate level and was not able to find joy at the local branch level. I redirected my efforts to the world headquarters office in the UK and was able to resolve all issues. You might give this a try, not sure if it will help your situation as my issue was of a corporate natural and several larges sums of money where involved in the form of LC's and SBLC's. However, one of the local branches that was part of the problem was in HCMC and the UK office squared them away.

Good luck.

[chainarong]

Good luck ,you are dealing with a third world county ah la Vietnam, those places make up their own rules, thanks for the advise , I'll stick to Bkk and K bank.

[Langsuan Man]

This is a normal occurrence with foreign banks operating in Thailand, they are more akin to franchises than branches of major "western " banks

For those TV readers that don't understand the OP's or other posters inability to name the bank in question, read the TV rules, we are not allowed to name and shame here in Thailand, since everyone, especially the owners of this board, are scared to death of defamation (real or not)

[chiang mai]

This is a normal occurrence with foreign banks operating in Thailand, they are more akin to franchises than branches of major "western " banks

I disagree, I bank with, ahem, HSBC in three countries and HSBC Thailand interacts seamlessly and efficiently with my HK and UK accounts, to all intents and purposes HSBC BKK might just as well be HSBC HK for all the difference that's involved.

[Pib]

This is a normal occurrence with foreign banks operating in Thailand, they are more akin to franchises than branches of major "western " banks

For those TV readers that don't understand the OP's or other posters inability to name the bank in question, read the TV rules, we are not allowed to name and shame here in Thailand, since everyone, especially the owners of this board, are scared to death of defamation (real or not)

I guess we are referring to Rules 6 and 11 in this case. TV Rules. But I got say that there are a lot of posts talking about financial institutions in a very negative way, valid or invalid, in the complaint/rant/etc. In many cases its hard to determine when a forum rule line has been crossed; makes a moderator's job even tougher sometimes. Cheers and Happy New Year.