Farang Bank Account

[muay_thai]

Can I open a Thai Bank Account so I can ensure not getting stung by the

exchange rate fluctuations.

I am not living or working in thailand and am effectively a tourist.

Does anyone have any experience or help thanks .

[djinn]

Siam Commercial Bank will help you.I opened my account there in november.No problem.

[Garry]

Siam Commercial Bank will help you.I opened my account there in november.No problem.

Was there a minimum deposit you had to place into the account initially, as I have read so many conflicting reports in ThaiVisa..!?

Thanks,

Garry

[phuket Mike]

Bangkok Bank will allow a farang a savings account with a visa/debit card. They require a deposit but the amount is up to you, I gave them 500 baht.. The debit/cash card will cost you 300 baht.

You will need your passport and an address in Thailand. This address can be anything even a hotel room.

I know because I did it in December without any problems. They will also give a nice little typed note with all the details your bank needs to transfer the money.

phuket Mike

[randyksf]

Bank Thai is like Bangkok bank but they only charge 150 for the atm card. For the bank Asia wants 50k. Shop around and go to different branches you can get different answers. Oh be prepared to sign a lot of contracts in Thai.

[Garry]

Thanks for the info everyone....

[32x]

Im also looking to open a bank account in Thailand but with very small funds,tops 30,000baht.

What i do want to do is open an off-shore account may be in singapore or HK,to be on the safe side just in case the baht drops. Any comments about this?

ie = Banks?

[KevinN]

I have had an acct. at SCB for 3 years,was no problem to open and the service is good and I think I opened it with 3K baht.

And it matters not where it is, offshore or here,if the baht drops,it drops on the world market,that is the price you will get.But my conversion rate at SCB is as good as you will get anywhere.

[Jeff1]

I too will be opening a bank account in thailand. Am I correct in thinking that when I give them dollars they will convert it into Baht for the days price. So then I will have only baht in the account. So if the baht " falls " it wont matter as long as you spend in Thailand. I have also heard of some type of insurance that the bank can provide if you keep a larger balance, ( medical ) has anyone heard of this?

Thanks ,

Jeff

[KevinN]

The only bank that I know of that will give you an ins. policy is bank of asia,and I think it is an accident policy,I am not sure.www.bankasia4u.com will get you there.

but i seem to remember that it is a very substantial deposit.

[Garry]

Just my 2 cents/baht/phenig/baisa..jeez...With insurance and your only in country may be a month or two at a time, it would maybe be best to get it from a broker and have world wide cover. I know that means maybe extra money, but I'm only talking this type of case, as it works for me and I'm totally covered for virtually any eventuality.

I don't think it covers alien abduction or jealous bar girls though...

[Jeff1]

Thanks Kevin & Garry,

I guess im out , on the jealous bar girl ins. then

I spend 6 months in Thailand and the other 6 in the U.S.A. so I think some form of

medical/ dental ins. would be good. Anyone else have advice or thought's ?

Thank you,

Jeff

[bmanly]

Muay Thai, I second Phuket Mikes opinion on Bangkok Bank, apart from long queues in the branch they are very efficient. The debit card cost 300 baht, the standard ATM card costs only 200 baht. Jeff1, you are right if you send dollars the bank will convert into baht at the TT rate which is the higher rate. I did this Monday night, I sent AUD and then I rang Bangkok and went through an English telephone banking menu, then spoke to customer service rep in English. My money was there and converted at the higher interbank rate. As far as insurance goes most of the Ex Pats I know use Bupa Blue Cross, they are a giant (British I think) international health insurance company. If in Pattaya you will find them on Sukhumvit road, turn left at Pattaya Klang.

[Jeff1]

Thank's Bmanly. I will check into it.

Take care,

Jeff

[Zendesigner]

32X,

you can open an account in HK or SG through citybank in bangkok.

push a litlle at the front office they will guide you to the back to talk to a nice lady there :-)

B