Best Bank Account In Pattaya These Days

[raro]

Just about to open a bank account at SCB Soi Siam. After that girl studied the stamps for 10 (ten!) minutes I asked whether or not we can be done before closing time. If looks could kill, I'd be gone.

Called their call center, complained passed the phone to her. Made her at least get off her chair.

Will report back later unless my phone runs out of battery...

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

[raro]

They copied each and every page of my passport

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

[tomnicholson]

In the last week or so I have set up two savings accounts with ATM Debit card with just my passport and my Thai address ( nothing fancy, just a guesthouse) being asked for as requirements. Kasikorn Bank at Big C on Pattaya Nua did not ask about my visa. Bangkok Bank at Central shopping mall stipulated a 12 month visa ( I have a "Retirement" visa) as a requirement. I have read on this forum, if my memory serves me correctly, and been told by an acquaintance who is a businessman and long-term resident that Bangkok Bank will be better for transferring money from my Australian savings account because they will give a better exchange rate than other banks ( particularly Kasikorn ).Anyone care to share any knowledge/experience of the various banks comparative exchange rates for transfers ? Also, with the SMS alerts, if they are received after the event they'd likely be of little value if the first dodgy transaction was a big hit. Or am I missing something ? Cheers.

[bmanly]

In the last week or so I have set up two savings accounts with ATM Debit card with just my passport and my Thai address ( nothing fancy, just a guesthouse) being asked for as requirements. Kasikorn Bank at Big C on Pattaya Nua did not ask about my visa. Bangkok Bank at Central shopping mall stipulated a 12 month visa ( I have a "Retirement" visa) as a requirement. I have read on this forum, if my memory serves me correctly, and been told by an acquaintance who is a businessman and long-term resident that Bangkok Bank will be better for transferring money from my Australian savings account because they will give a better exchange rate than other banks ( particularly Kasikorn ).Anyone care to share any knowledge/experience of the various banks comparative exchange rates for transfers ? Also, with the SMS alerts, if they are received after the event they'd likely be of little value if the first dodgy transaction was a big hit. Or am I missing something ? Cheers.

I transferred 90,000 baht ($3,000 AUD) into my Bangkok Bank account using OZFOREX and on the receiving end they charged me 190 baht. On the other hand I used Penny Transfer and transferred 60,000 baht ($2,000 AUD) to my Kasikorn Account and they charged me 290 on their end. Kasikorn was more expensive. Both of the companies I used convert AUD to BAHT before I send the funds, their rates are good.

As for the SMS alerts they are very good as you can not do any withdrawal, online payments or transfers without getting a OTP (one time password) being SMS'd to you first. The SMS is mainly for you to authorise transfers from your account. They also send you regular balance notifications if the balance ever changes.

For both accounts, any time I log in online, I get an email notifying me that the account was accessed. I think that OTP SMS's and email notifications are quite good security wise.

[tomnicholson]

The OTP I did not know about, and that does provide a high level of security. Does that apply to someone trying to access through an ATM with a dodgy card as well ? Both banks you refer to had a good rate of exchange but I wonder if one gives a better exchange rate than the other ? I want to transfer a fair bit in one hit and it might mean I save a fair bit by getting a better rate.

Anyway, thanks for the reply and 'ave a good one.

[bmanly]

Tom, seriously, I think if someone cloned or skimmed your card and somehow observed you entering your PIN at an ATM then I think you have a good chance of being ripped off. To do an ATM withdrawal they do not send you a OTP. I cover the keypad with my free hand when entering the PIN code, nothing else you can do.

On my last trip I used an Australian Credit card to withdraw from AEON ATM's, it all went well. 2 Weeks after I returned home I was contacted by my bank and they queried several overnight suspect transactions. That card was skimmed somewhere somehow in Thailand. I know this for a fact as I only used it in Thailand ATM's. So even someone like me who is extra careful still got skimmed and ripped off. Luckily being an Aussie supplier it was all refunded to me so no problem. So if someone can skim a overseas credit card with security chip in it, then someone can do the same with the Thai issued cards as well.

With OZFOREX if you transfer $10,000 AUD or more then they do the transfer free. I wouldn't use one of the big 4 Aussie banks, their fees are much higher.

I haven't done an AUD transfer lately but think there isn't much difference in conversion rate on the Thai side, I would be more worried about the fees I pay I the Aussie side. Maybe someone else can comment about if the conversion rate is much different with any bank on the Thai side, all the best.

[tomnicholson]

I hear what you are saying. As far as I am concerned the insecurity of computerized banking is absolutely outrageous - the system is run by scumbags. As you probably know, a card can be skimmed anywhere, not just at ATMs, with quite inexpensive devices. Check out youtube. Ozforex looks good I've checked them out before, definetly lower charges. I suppose checking various exchange rates at several banks just prior to transferring is the best way to find out for oneself. I do not know how much the exchange rates can vary from bank to bank at any given moment in time but if, for example, there was a one baht difference and the approximate exchange rate at that time was 30 baht to the dollar, you'd be looking at a 3.33% difference in what money you might receive. So with transferring say $10,000 you might be looking at a much more significant cost than your fee or charge, if you see what I mean.Maybe a one baht variation does not happen. I might do the exercise of making a comparison by going from a Bangkok Bank to a Kasikorn Bank as quickly as possible and make a comparison - assuming they want to tell me, which Bangkok Bank did yesterday quite happily. Anyway, thanks for your comments.

[topt]

I hear what you are saying. As far as I am concerned the insecurity of computerized banking is absolutely outrageous - the system is run by scumbags. As you probably know, a card can be skimmed anywhere, not just at ATMs, with quite inexpensive devices. Check out youtube. Ozforex looks good I've checked them out before, definetly lower charges. I suppose checking various exchange rates at several banks just prior to transferring is the best way to find out for oneself. I do not know how much the exchange rates can vary from bank to bank at any given moment in time but if, for example, there was a one baht difference and the approximate exchange rate at that time was 30 baht to the dollar, you'd be looking at a 3.33% difference in what money you might receive. So with transferring say $10,000 you might be looking at a much more significant cost than your fee or charge, if you see what I mean.Maybe a one baht variation does not happen. I might do the exercise of making a comparison by going from a Bangkok Bank to a Kasikorn Bank as quickly as possible and make a comparison - assuming they want to tell me, which Bangkok Bank did yesterday quite happily. Anyway, thanks for your comments.

SCB for sure and I think Bangkok bank post their rates on their web site so you should be able to check those at least from your chair.

SCB rates often change half a dozen times per day but you can see all the days separate sheets by time of posting and check the movement, or not, of all the currency's quoted.

[tomnicholson]

Good to know. Very helpful. Thanks.

[Thaiaddict01]

question anyone know which bank that you can close the account by mail, fax, or phone? in case I don't go back to Thailand and I can just close it overseas. For Kasikorn they don't let you do it, you have to do it in person. So when I want to close an account obviously I need to open one without too much hassle for us foreigners, so does anyone know a TH bank account that you can open without too much difficulty and close the account by mail, fax, phone etc? thanks

Can you open up an account for baht and another for USD account? So when you transfer USD over it will be in the USD account, so you won't lose money to fee or shitty exchange rate when bank automatically convert USD to THB.

[iluvbeaches]

Anybody know if either SCB or BB offer OTP via SMS for ATM withdrawals? That would be a great service if so.

[JSixpack]

question anyone know which bank that you can close the account by mail, fax, or phone? in case I don't go back to Thailand and I can just close it overseas. For Kasikorn they don't let you do it, you have to do it in person. So when I want to close an account obviously I need to open one without too much hassle for us foreigners, so does anyone know a TH bank account that you can open without too much difficulty and close the account by mail, fax, phone etc? thanks

Withdraw all your money and eventually the bank will close your account for you automatically.

Can you open up an account for baht and another for USD account? So when you transfer USD over it will be in the USD account, so you won't lose money to fee or shitty exchange rate when bank automatically convert USD to THB.

Yes.

[monty]

Anybody know if either SCB or BB offer OTP via SMS for ATM withdrawals? That would be a great service if so.

No such thing for any of the banks.

Actually have never heard of such service anywhere in the world as I doubt the ATM communication protocol allows this.

The safest card you can get in Thailand is the Bkk bank be1st smart card, which contains the European EMV chip.

This card is virtually impossible to copy/skim, so for an unauthorized transaction somebody will need to actually have your card in hand and needs your pin code.

Unfortunately only works on Bkk bank atm machines.

It does work in most European atm's which use the emv system.

Sent from my GT-I9001 using Thaivisa Connect Thailand mobile app

[blackman]

Anybody know if either SCB or BB offer OTP via SMS for ATM withdrawals? That would be a great service if so.

No such thing for any of the banks.

Actually have never heard of such service anywhere in the world as I doubt the ATM communication protocol allows this.

The safest card you can get in Thailand is the Bkk bank be1st smart card, which contains the European EMV chip.

This card is virtually impossible to copy/skim, so for an unauthorized transaction somebody will need to actually have your card in hand and needs your pin code.

Unfortunately only works on Bkk bank atm machines.

It does work in most European atm's which use the emv system.

Sent from my GT-I9001 using Thaivisa Connect Thailand mobile app

Kasikorn bank can send an SMS message detailing a transaction to the account holders registered number when a withdrawal is made

[ThaiBob]

Kasikorn bank can send an SMS message detailing a transaction to the account holders registered number when a withdrawal is made

Yes, most banks offer that feature.

[blackman]

Kasikorn bank can send an SMS message detailing a transaction to the account holders registered number when a withdrawal is made

Yes, most banks offer that feature.

not according to Monty in the post above mine:

''No such thing for any of the banks.

Actually have never heard of such service anywhere in the world as I doubt the ATM communication protocol allows this.'''

[Upnotover]

Kasikorn bank can send an SMS message detailing a transaction to the account holders registered number when a withdrawal is made

Yes, most banks offer that feature.

not according to Monty in the post above mine:

''No such thing for any of the banks.

Actually have never heard of such service anywhere in the world as I doubt the ATM communication protocol allows this.'''

In fairness though, he was talking about something else, OTP for ATM withdrawals.

[monty]

The question was about an OTP for ATM withdrawals.

OTP (one time password) would mean when trying to do an atm withdrawal, a password will be sent to your mobile, which then has to be entered into the atm before funds are dispersed.

Much like when transferring with online banking.

This as far as I know does not do exist.

Sent from my GT-I9001 using Thaivisa Connect Thailand mobile app

[blackman]

The question was about an OTP for ATM withdrawals.

OTP (one time password) would mean when trying to do an atm withdrawal, a password will be sent to your mobile, which then has to be entered into the atm before funds are dispersed.

Much like when transferring with online banking.

This as far as I know does not do exist.

Sent from my GT-I9001 using Thaivisa Connect Thailand mobile app

ok Monty, i stand corrected

my apologies for misunderstanding the request and your response

[iluvbeaches]

Hmm ok guess I will just pick up the Bangkok bank card with the chip then. Do you know if they will let you hang on to both cards the Be1 and the normal no name mag card?

Another question to K bank users, does k bank offer free accounts (no annual fee accounts)?

[blackman]

Hmm ok guess I will just pick up the Bangkok bank card with the chip then. Do you know if they will let you hang on to both cards the Be1 and the normal no name mag card?

Another question to K bank users, does k bank offer free accounts (no annual fee accounts)?

if you can get a K Bank Wisdom account, service is free, credit card included and VIP service in branches

[iluvbeaches]

Hmm ok guess I will just pick up the Bangkok bank card with the chip then. Do you know if they will let you hang on to both cards the Be1 and the normal no name mag card?

Another question to K bank users, does k bank offer free accounts (no annual fee accounts)?

if you can get a K Bank Wisdom account, service is free, credit card included and VIP service in branches

Ok I assume that type of set up requires a minimum balance across accounts. I use bb for biz and personal and like it but thought it would be nice to have a k bank account with a bit of cash to transfer to when I go out. If I lose it or it gets skimmed no big deal.

[misterphil]

Kasikorn, Kasikorn, Kasikorn. Been with them 7 years now. Opened the account with a passport and tourist visa and had internet banking the next day. I get SMS sent to my phone when ever theres a transaction on my account for 20 baht a month and I even get interest on my money. If I use my card outside of Pattaya/Chonburi its 20 baht fee.

[Thaiaddict01]

question anyone know which bank that you can close the account by mail, fax, or phone? in case I don't go back to Thailand and I can just close it overseas. For Kasikorn they don't let you do it, you have to do it in person. So when I want to close an account obviously I need to open one without too much hassle for us foreigners, so does anyone know a TH bank account that you can open without too much difficulty and close the account by mail, fax, phone etc? thanks

Withdraw all your money and eventually the bank will close your account for you automatically.

Can you open up an account for baht and another for USD account? So when you transfer USD over it will be in the USD account, so you won't lose money to fee or shitty exchange rate when bank automatically convert USD to THB.

Yes.

No I want to close the account and have them wire or send me a check, I don't want to use ATM in my country to take out the money, there is a daily limit and fee will be too great.

for the USD account is it a seperate passbook? I only got the regular savings passbook that doesn't deal with USD right? if I wire money over it will be converted to THB automatically.

Any of the banks in Thailand that let you open an account by mail/phone/email? thanks

[BB1950]

Nope. Because of money laundering, you must open an account in person at one of the branches, with a valid passport and visa. Some bank have additional requirements such as: type of visa, length of visa, and work permit.

Yes, a foreign currency account uses a seperate passbook from Thai Baht account. Foriegn currency accounts are usually opened in the banks main office in Bangkok.

Yes when you transfer foreign money to a Thai Baht account the money it is automatically converted at the current TD rate for that bank.

Edited July 18, 2013 by BB1950

[toenail]

_{Warning: Stay away from UOB. Very few offices around - close at 3pm in Pattaya and Naklua. Poorly trained staff when making a call and put on "hold" for an English speaking clerk (NOT) --though UOB is from Singapore. Never any discount on purchases like you get it "K"}

Edited July 18, 2013 by toenail

[Thaiaddict01]

Nope. Because of money laundering, you must open an account in person at one of the branches, with a valid passport and visa. Some bank have additional requirements such as: type of visa, length of visa, and work permit.

Yes, a foreign currency account uses a seperate passbook from Thai Baht account. Foriegn currency accounts are usually opened in the banks main office in Bangkok.

Yes when you transfer foreign money to a Thai Baht account the money it is automatically converted at the current TD rate for that bank.

USD accounts are opened in the banks main office in BKK? so I have to go to BKK? can't just open the USD account in the branches outside of BKK?

[BB1950]

Nope. Because of money laundering, you must open an account in person at one of the branches, with a valid passport and visa. Some bank have additional requirements such as: type of visa, length of visa, and work permit.

Yes, a foreign currency account uses a seperate passbook from Thai Baht account. Foriegn currency accounts are usually opened in the banks main office in Bangkok.

Yes when you transfer foreign money to a Thai Baht account the money it is automatically converted at the current TD rate for that bank.

USD accounts are opened in the banks main office in BKK? so I have to go to BKK? can't just open the USD account in the branches outside of BKK?

You'll have to check with the bank.

In my experience with Bangkok Bank, my USD account could only be handled by the foriegn accounts section upstairs on the second floor at the main office. (this was several years ago). I ended up closing it and opening an Thai Baht account in Pattaya because it was easier. My pension funds are deposited using the ACH system through the New York branch and funds are converted automatically to Thai Baht. Going to Bangkok all the time was too troublesome for me. I don't use US Dollars anymore.

With a direct deposit account for the US Treasury, it can't be used with an ATM or Internet Banking and Transfers/Withdrawels have to be made in person. With a Thai Baht account, I can make the transfer in any branch. New passbooks (when they get full) can only be issued from the branch in which you opened the account. So for me, the Thai Baht account works out best. Thai Baht 'Direct Deposit' accounts for the US Treasury can be opened in any Bangkok Bank branch.

Here's more information on Direct Deposit accounts: http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/AdviceDirectDeposit.aspx

Edited July 19, 2013 by BB1950

[Pattaya46]

USD accounts are opened in the banks main office in BKK?

so I have to go to BKK? can't just open the USD account in the branches outside of BKK?

I opened an USD account in Kasikorn Pattaya Tai (near Tukcom) a few years ago.

No need to go BKK

BTW no interest served and minimum amount $5'000

[brummiebob]

Nope. Because of money laundering, you must open an account in person at one of the branches, with a valid passport and visa. Some bank have additional requirements such as: type of visa, length of visa, and work permit.

Yes, a foreign currency account uses a seperate passbook from Thai Baht account. Foriegn currency accounts are usually opened in the banks main office in Bangkok.

Yes when you transfer foreign money to a Thai Baht account the money it is automatically converted at the current TD rate for that bank.

USD accounts are opened in the banks main office in BKK? so I have to go to BKK? can't just open the USD account in the branches outside of BKK?

You'll have to check with the bank.

In my experience with Bangkok Bank, my USD account could only be handled by the foriegn accounts section upstairs on the second floor at the main office. (this was several years ago). I ended up closing it and opening an Thai Baht account in Pattaya because it was easier. My pension funds are deposited using the ACH system through the New York branch and funds are converted automatically to Thai Baht. Going to Bangkok all the time was too troublesome for me. I don't use US Dollars anymore.

With a direct deposit account for the US Treasury, it can't be used with an ATM or Internet Banking and Transfers/Withdrawels have to be made in person. With a Thai Baht account, I can make the transfer in any branch. New passbooks (when they get full) can only be issued from the branch in which you opened the account. So for me, the Thai Baht account works out best. Thai Baht 'Direct Deposit' accounts for the US Treasury can be opened in any Bangkok Bank branch.

Here's more information on Direct Deposit accounts: http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/AdviceDirectDeposit.aspx

Bangkok bank are very specific about what certain branch can and cannot do, for even small things like currency exchange and international transfer, It doesn't need to be the head office but larger branch with foreign section, of the top of my head there's "Bang Kapi" branch on Sukhumvit opposite Suk Soi 11 that can do it,

other banks offers full service at most branches now.