Charged For Making A Deposit?

[xandreu]

I have a SCB bank account which I opened in Chiang Mai and often make deposits into the account. I've recently moved down to Bangkok and yesterday went into a branch of SCB to deposit 10000B and was told this would cost me 30B. I pointed out I had never been charged before and asked what it was for and she told me it was a "bank processing fee".

Is this right?

[PattayaParent]

In Thailand the branches of banks act as a completely separate entity from each other, they may as well be completely different banks.

So yes fees are incurred for doing anything outside you own branch.

Don't try withdrawing money from the account while in Bangkok as the fee is likely to be around 500 Baht.

[Mobi]

This one of the many reasons that cash is still king in Thailand amongst many Thais as they also object to these charges.

It's a strange situation, as in some ways banking and other institutions have state of the art practices and in other ways they are still anachronistic.

But hey! it wouldn't be Thailand if it were otherwise.

[CharlieH]

Anything done outside the province of the account holding branch will incur fees.

[chiang mai]

Anything done outside the province of the account holding branch will incur fees.

...is the right answer.

[janverbeem]

Some time ago I bought something and transferred the money to their account,for which I was charged.

Since the item was faulty they took it bacck and refunded the money by check.When I went to the bank to collect the check,I was charged again.

[bdenner]

YES This is the norm for most Thai banks, they are slowly learning the way of the West where "Anyway we can screw our customers works for us". For me to do a "SWIFT" transfer into my Udon Thani account goes through Bangkok and I get hit for a 0.1% charge to have it transferred from BKK and into my Udon account. Been so for 11 years that I know of.

[mackes]

The main problem with Thai banks is that every bank branch is like a bank of it's own. I met a Thai businessman

in one KTB branch were I compaid about transfer fees to another branch of KTB (150B for each 100 000B). He say "it is redicoulus, we Thai always work with cash when it comes to big money".

Anybody in Thai bank business thought about the security issue?

[Pib]

YES This is the norm for most Thai banks, they are slowly learning the way of the West where "Anyway we can screw our customers works for us". For me to do a "SWIFT" transfer into my Udon Thani account goes through Bangkok and I get hit for a 0.1% charge to have it transferred from BKK and into my Udon account. Been so for 11 years that I know of.

Whenever I have done an ACH or SWIFT transfer to my Nakhon Pathom Bangkok Bank Branch I'm assuming it may pass through HQ Bkk Bk on the way to my Nakhon Pathom branch account number, but I've never been hit with an inter-branch transfer fee like the 0.1% you mention and I've been doing transfers for over 20 years...before I arrived Thaiand and now afterwards.. The only fee applied within Thailand for me (or anyone using Bkk Bk to receive funds from overseas) is the standard Bkk Bk funds receipt fee of 0.25% (200 baht min, 500 baht max). And I think most other Thai banks pretty much use the same fee structure for the basic receipt of funds. When during a SWIFT transfer (rarely done by me) I just use the Bkk Bk SWIFT code and my Nakhon Pathom Bkk Bk branch account number. When doing a ACH transfer (much, much cheaper than a SWIFT transfer) I used the Bkk Bk New York Branch routing number and my Nakhon Pathom Bkk Bk branch account number. Only one in-Thailand fee applied...that 0.25% above mentioned fee....and as far as I know my funds go VFR-direct to my Nakhon Pathom Bkk Bk branch.

Edited January 19, 2012 by Pib

[Darrel]

As far as I know TMB doesn't charge for out-of-province transactions.

[chiang mai]

As far as I know TMB doesn't charge for out-of-province transactions.

Perhaps it's the ING influence.

[Daveroc]

The Banks divide themselves into Metropolitan and Provincial. If you transfer funds within each there should be no charges. If you transfer inter region it incurs charges.

If you have funds coming in from overseas through say BBL and it is going to an account anywhere in the country there will not be additional charges. If the funds come in say through a third party, for example in through HSBC, Citi to your bank, BBL, KBank , SCB then it becomes a domestic transfer and fees will be charged.

[ludditeman]

As far as I know TMB doesn't charge for out-of-province transactions.

Thai Military Bank is different.

They don't have many ATM machines, so don't charge for withdrawels from other machines either.

[Seeker1953]

Hi, makes me mad every time! Ha, but hey TIT, right?

Anyway, I had the same problem - simple solution - open an account in Bangkok. I closed my other account and had all the money transfered into the new account in Bangkok.

Just a suggestion, but it worked for me.

seeker

[nong38]

Do any Thai banks have any connection with Air Asia or Ryan Air or is it purely a coincidence that they all seem to have a seemingly endless number of charges for your delight!

Edited January 20, 2012 by nong38

[PattayaParent]

As far as I know TMB doesn't charge for out-of-province transactions.

Thai Military Bank is different.

They don't have many ATM machines, so don't charge for withdrawels from other machines either.

I have a TMB account and their machines are everywhere in all the main shopping areas but there never seem to be any at 7-11s or Family Marts, perhaps other banks have an exclusivity agreement with them?

[fredob43]

I put monies in my Kasikorn Bank up north while I was in Pattaya.That will be 30bt they told me, then I gave them my Bank book to make up, oh you have your Bank book well then NO charge. Seem's every bank has different rule's.

[takatukaland]

As far as I know TMB doesn't charge for out-of-province transactions.

Thai Military Bank is different.

They don't have many ATM machines, so don't charge for withdrawels from other machines either.

They have ATM machines,for example at airport,TMB will not charge u anything in another provence if u have a certain amount of money in ur account,I think it was 20000bt

[fredob43]

As far as I know TMB doesn't charge for out-of-province transactions.

Thai Military Bank is different.

They don't have many ATM machines, so don't charge for withdrawels from other machines either.

They have ATM machines,for example at airport,TMB will not charge u anything in another provence if u have a certain amount of money in ur account,I think it was 20000bt

Kasikorn bank. Have just taken out 10,000bt from an ATM not local with a charge of 15bt and I have load's of bt in my acc. As said not all the same.

[Palmeiras]

The culture here may like cash but banks don't. It costs to handle it, store it, move it, and secure it. Fees for handling cash have become quite common in many countries. Would there have been a charge for depositing a cheque or was it just because the transaction involved cash handling?

[Javabear]

I've found that the easiest and best way for me to transfer money to my Bangkok Bank account from the US is to use the ABA routing number for their New York branch with my account number. It takes a few days to post here in Thailand but it is free to make the domestic transfer from Bank of America.

[Pib]

I've found that the easiest and best way for me to transfer money to my Bangkok Bank account from the US is to use the ABA routing number for their New York branch with my account number. It takes a few days to post here in Thailand but it is free to make the domestic transfer from Bank of America.

It's not free unless maybe you have some type of special account I'm not aware of. Being a BoA customer myself (but soon to be a former customer) and when seeing above comment I thought to myself has BoA, which many also refer to as Fees-R-Us, just dropped their external bank transfer fees. But no, they are still the same. BoA still charges a $3-$25 per transfer to an external bank depending on the delivery/transfer speed selected. See below snapshot I took from my account just a few minutes ago regarding their external bank transfer fees.

Now a $3 for a 3 day transfer is not bad considering how many banks/credit unions charge a lot more; but there are also many banks/credit unions that do not charge any fee for an ACH transfer like USAA, Schwab, State Farm, Capital One, etc. I just need to close-out my BoA account since the new bank accounts I opened last year have worked so well and have fewer/lower fees....and two of the new accounts even came wih no foreign transaction fee Visa debit cards (to include reimbursement for ATM fees if required) where BoA charges a foreign transaction fee of 1% fee + $5 per transaction with no ATM reimbursement. BoA served me well while living in the States and the $3 ACH transfer fee ain't bad, but there are other banks out there which have lower fee structures. Yea, BoA is no longer in good graces with me simply because of their fees and all the negative press (probably well earned) they have got over the past few years. But a person never knows, maybe they'll get religion and do a turn around...or not.

[kamalabob2]

SCB in Buriram province has a fee for making an in person in the bank branch deposit of at least 30 baht, even though the Savings account was originally opened at a SCB branch 50 km away in the SAME Province. No such foolishness from where I currently am much more satisfied banking, Bangkok Bank. SCB had double pricing for a bank safety box in Buriram, where Bangkok Bank had the same deposit box fee for Thai and non Thai. I voted with my feet.

[lockman]

I've found that the easiest and best way for me to transfer money to my Bangkok Bank account from the US is to use the ABA routing number for their New York branch with my account number. It takes a few days to post here in Thailand but it is free to make the domestic transfer from Bank of America.

It's not free unless maybe you have some type of special account I'm not aware of. Being a BoA customer myself (but soon to be a former customer) and when seeing above comment I thought to myself has BoA, which many also refer to as Fees-R-Us, just dropped their external bank transfer fees. But no, they are still the same. BoA still charges a $3-$25 per transfer to an external bank depending on the delivery/transfer speed selected. See below snapshot I took from my account just a few minutes ago regarding their external bank transfer fees.

Now a $3 for a 3 day transfer is not bad considering how many banks/credit unions charge a lot more; but there are also many banks/credit unions that do not charge any fee for an ACH transfer like USAA, Schwab, State Farm, Capital One, etc. I just need to close-out my BoA account since the new bank accounts I opened last year have worked so well and have fewer/lower fees....and two of the new accounts even came wih no foreign transaction fee Visa debit cards (to include reimbursement for ATM fees if required) where BoA charges a foreign transaction fee of 1% fee + $5 per transaction with no ATM reimbursement. BoA served me well while living in the States and the $3 ACH transfer fee ain't bad, but there are other banks out there which have lower fee structures. Yea, BoA is no longer in good graces with me simply because of their fees and all the negative press (probably well earned) they have got over the past few years. But a person never knows, maybe they'll get religion and do a turn around...or not.

However if you do this as a bill pay it is "free" at most US banks. Don't associate a transfer with a bill payment. I "pay" myself via BKK Bank with my account number here. No charge from the bank, small charges from BKK bank but cheaper by far than other methods, and usually a higher rate VS. ATM

[chainarong]

Yeah, you need to change to that branch , years ago i sent money with BKK bank, from Pattaya to Chiang rai, same thing, they sort of are all separate identities, so it costs , convenient, hey, so I changed to net bank , course they never heard of computers either, load of cobblers really , but that's one of many money making systems for them, the rip of banks in Australia haven't clicked to this one yet , now that's a wounder.

[Pib]

However if you do this as a bill pay it is "free" at most US banks. Don't associate a transfer with a bill payment. I "pay" myself via BKK Bank with my account number here. No charge from the bank, small charges from BKK bank but cheaper by far than other methods, and usually a higher rate VS. ATM

How you going to do it as a true bill pay when the bank is not sending you an electronic bill to process the bill payment against? Yes, I know you could process a payment where a check is cut and mailed to the bank/company/person/etc., but that check would be made out to them. I guess you could put your name and account number on the check for deposit but I doubt the Thai bank would deposit it without you being there to show your passport. Plus, they would be charging a fee to cash the check that would probably be in the 300 baht ballpark and take 3-6 weeks to clear/post to your account. I don't thing you are taking about a Bill Pay transaction, but just cashing a personal check which has the aforementioned associated fee and posting wait time.

[IMA_FARANG]

I've found that the easiest and best way for me to transfer money to my Bangkok Bank account from the US is to use the ABA routing number for their New York branch with my account number. It takes a few days to post here in Thailand but it is free to make the domestic transfer from Bank of America.

That's the way I do it here in Bangkok.

Usually 3 days or 4 days by the time I start the process from my U.S. bank...but maybe another 2 days if it happens to run over a weekend or holidays on either end.

The problem is not the transfer...which is done almost instantaneously by computers on each end...but the fact it takes an actual human bank employee to read and acknowledge the transfer request.

I happened to be at my bank branch here in Bangkok on the Monday morning this month when my monthly transfer was being completed.

Although the foriegn exchange desk actually called the Bangkok Bank head branch in Silom Road, and my transfer was there to be forwarded to the branch bank, I had to wait about an hour to get it processed before i could make a withdrawal on it.

So I went across the street, and had coffee and doughnuts while watching the good-looking young Thai office girls going to work.

An hour later, when I returned, my money was ready.

dam_n, retirement in Thailand is SO stressful (not).

[rotary]

Also look at the rules banks in Thailand have on US$ accounts. Really crazy on them charging for deposits or withdrawals at much higher than B30.

[chiang mai]

Also look at the rules banks in Thailand have on US$ accounts. Really crazy on them charging for deposits or withdrawals at much higher than B30.

So you get charged for withddrawing foriegn currency from the Thai bank but you don't get charged any currency exchange fees, sounds pretty good to me, If you were in the US and you wanted to withdraw Thai Baht currency from your US bank you'd get hit pretty bad would you not!

[RickBradford]

The culture here may like cash but banks don't. It costs to handle it, store it, move it, and secure it. Fees for handling cash have become quite common in many countries. Would there have been a charge for depositing a cheque or was it just because the transaction involved cash handling?

Handling cash does cost time and money, but why should the fee be different (greater) when you go to another province?

If you have an account at a branch in Bangkok; it should make no difference if you deposit cash in Bangkok, Chiang Rai, Mukdahan or Songkla -- the work is exactly the same; take the cash and update the passbook.

It's not like they have to send the cash back to Bangkok via elephant once a month.