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[TallGuyJohninBKK]

Re the comments above, even people living in Thailand cannot open an account with BKK Bank's New York Branch... You open a BKKB account with one of their branches in Thailand, and then, as I said above, simply use the U.S. ABA/routing number of the New York branch and your BKKB Thai account number when you want to send an ACH transfer from a U.S. bank account to your Thailand BKKB account.

The funds go to the New York branch and then they automatically forward them to your BKKB account in Thailand. The NY branch adds a small handling fee for those kinds of transfers, and then BKKB in Thailand charges a .25% commission on the incoming funds, minimum 200 baht and maximum 500 baht.

The last part of your comment isn't quite clear... You might be able to use your Schwab VISA debit card for what?

And as for retirement visa.... if you're applying for a VISA in your home country, the Thai consulate will ask for proof of bank funds in your HOME COUNTRY bank, not a Thai bank, as one of the several ways of satisfying their income requirement.

If you're applying for an extension of stay based on retirement from Thai Immigration once already staying inside Thailand, one of the available methods for satisfying the income requirement is having 800,000 baht in a bank account in Thailand. Any deposit account in any Thai bank will suffice for that.

Although, the BKKB transfer method involving their NY branch is one of the most cost-effective ways to move a large chunk of money (800,000 baht for a retirement extension deposit) from the U.S. to Thailand, usually more economical than any regular international wire transfer.

Edited April 16, 2012 by TallGuyJohninBKK

[TallGuyJohninBKK]

BTW, re the topic of this thread, banking choice for Americans, there's already another TV thread here devoted to that same topic with a lot of pertinent info on these various topics.

[NaMah]

Re the comments above, even people living in Thailand cannot open an account with BKK Bank's New York Branch... You open a BKKB account with one of their branches in Thailand, and then, as I said above, simply use the U.S. ABA/routing number of the New York branch and your BKKB Thai account number when you want to send an ACH transfer from a U.S. bank account to your Thailand BKKB account.

The funds go to the New York branch and then they automatically forward them to your BKKB account in Thailand. The NY branch adds a small handling fee for those kinds of transfers, and then BKKB in Thailand charges a .25% commission on the incoming funds, minimum 200 baht and maximum 500 baht.

The last part of your comment isn't quite clear... You might be able to use your Schwab VISA debit card for what?

And as for retirement visa.... if you're applying for a VISA in your home country, the Thai consulate will ask for proof of bank funds in your HOME COUNTRY bank, not a Thai bank, as one of the several ways of satisfying their income requirement.

If you're applying for an extension of stay based on retirement from Thai Immigration once already staying inside Thailand, one of the available methods for satisfying the income requirement is having 800,000 baht in a bank account in Thailand. Any deposit account in any Thai bank will suffice for that.

Although, the BKKB transfer method involving their NY branch is one of the most cost-effective ways to move a large chunk of money (800,000 baht for a retirement extension deposit) from the U.S. to Thailand, usually more economical than any regular international wire transfer.

I meant to convey the understanding that I could use the Schwab debit/ATM card in Thailand and possibly not need a Thai bank account at all. It is my intent however to open a BKK account in Thailand and tranfer smallish amounts of money into it as needed via ACH to the NY branch as that seems to offer an additional layer of security.

[TallGuyJohninBKK]

Yep... that could work fine...

For funding your local Thai account, you could either simply withdraw the funds from your Schwab account using your Schwab debit card and then re-deposit them into the Thai account of your choice. Or, you could do the international transfer approach using BKKB New York or others, particularly if the amounts desired are larger. The former is fee-free. The latter has transaction fees.

With the Schwab debit card, I believe you can withdraw up to $1000 (or about 30,000 baht) per 24 hour period via ATM... Most Thai ATMs on their own will dispense 20,000 or 25,000 per transaction, although the fee-free AEON ones supposedly will go much higher, above the Schwab 24 hour amount.

There are a variety of reasons to want to have a local Thai bank account for someone living in Thailand, including the ability to do online bill payments and funds transfers to local payees. However, speaking personally, because of the serious lack of consumer protection provisions associated with Thai bank accounts, among other reasons, I'd never want to keep any large sum of funds on deposit with them, if I had any choice in the matter.

Yet, it's also unfortunately the case that those people who need to use the Thai bank deposits method as their means of meeting Immigration's requirement for a retirement-based extension of stay don't have any choice in the matter. They have to keep their Immigration-related funds on deposit in a bank in Thailand.

For folks in that situation, a time deposit similar to U.S. CDs is probably the safest way to go. They pay decent interest depending on the amount deposited and the time term chosen, and they're generally accepted by Thai Immigration, although there have been some cases where some local office kicked up a fuss. The advantage of those accounts is that they don't typically come with ATM cards that can be lost/stolen or skimmed and then used to drain your bank account.

If someone is keeping the more common Thai bank savings account, it's wise to carefully look at the daily withdrawal limits associated with your account's ATM card, which often are set very high by default by the Thai banks. The account holder, depending on the bank, can have those limits reduced to some more comfortable levels.

The reason being, generally with Thai banks, the account holder is responsible for ALL fraudulent purchases or ATM withdrawals occurring, up to the card's daily limit, prior to the account holder notifying the bank of a debit card's loss or theft or skimming -- which is totally different from U.S. law on such matters.

It's not too difficult for a scenario to arise where, if the account holder isn't careful and pre-set low daily use limits on their card, that their Thai bank account could be substantially drained before the owner might ever become aware of it.

The other nice thing about using U.S. credit and debit cards in Thailand, if you can avoid foreign currency charges, is that the U.S. banking law consumer protections apply on transactions abroad, so long as the card involved has been issued by a U.S. bank.

Some time back, I had my wallet containing a U.S. VISA debit card stolen while riding on the BTS Skytrain. Within the hour it took me to get home and call my U.S. bank, the thieves had rung up more than $1,000 in purchases at several different shops in a local mall here in BKK. Fortunately, because it was a U.S. bank/card and I reported the theft promptly, my bank restored all of the funds lost from the fraudulent purchases, though it took about a week and a half and I had to send my bank a copy of the Thai police report (written in Thai, of course) on the theft.

In that case, getting reimbursement was relatively easy, and although the process was a bit burdensome and anxiety-inducing, I got no trouble from my bank at all... On the flip side, you REALLY don't want to have the same thing happen with a Thai bank card and then go hat in hand to your local Thai bank asking for reimbursement... and see what's likely to happen.

Edited April 16, 2012 by TallGuyJohninBKK

[flying]

In that case, getting reimbursement was relatively easy, and although the process was a bit burdensome and anxiety-inducing, I got no trouble from my bank at all... On the flip side, you REALLY don't want to have the same thing happen with a Thai bank card and then go hat in hand to your local Thai bank asking for reimbursement... and see what's likely to happen.

Glad you got your money back.

I have always thought it was a good idea to have more than one Thai account...even at the same bank

That way one has ATM access & one does not

The one without is the feeder & the one with the card never kept with a higher balance than needed.

[TallGuyJohninBKK]

Yes, I've seen others suggest that as a way to prudently handle things... And if one's bank will agree to that kind of arrangement, it certainly would address the card security issues.

Flying, my only question is, are you talking about doing that with regular savings accounts, or some other category of Thai account. My impression has been, at least for some banks, that they'll automatically issue an ATM card with the basic savings account. And even if the account holder cut up/destroyed that card, the bank would still have a profile of it in their system.

The other things to be aware of re keeping any kind of large balances in Thai banks are:

--the Thai government backed insurance protection scheme that protects depositors, including farangs, against losing their funds in bank failures is set to reduce its coverage this coming fall. The new insured limit will be only 1 million baht (about $33,000) per depositor per bank (not per account). The comparable U.S. limit is $250,000.

--Also, the government deposit insurance scheme only protects against bank failures, and apparently it doesn't protect against cases of criminal bank fraud or theft, where bank employee(s) might physically or electronically loot people's accounts. That's been known to happen here (and elsewhere too, of course). But the difference is, here, a victimized depositor's recourse with the Thai police and civil courts system is most likely difficult and minimal.

Here, BTW, is a recent ThaiVisa thread of what can happen when one's Thai bank card is compromised... As I said, you REALLY don't want it to happen to you.

Bangkok Bank Will Not Payback Fraudulent Pos Transactions W/Stolen Atm Card --Started by jeffinbangkok, 2011-11-20 15:09

http://www.thaivisa....tolen-atm-card/

And I guess I should add, since the other thread mentions it, the VISA card no fraud liability pledge that VISA advertises prominently in the U.S. does NOT apply in Thailand and probably most other countries. So Americans in particular need to realize that's great at "home," but zero help here in LOS.

Edited April 17, 2012 by TallGuyJohninBKK

[TallGuyJohninBKK]

Sorry, let me clarify regarding my comment above about the VISA no fraud liability program in the U.S.:

--It DOES NOT provide any protection at all for any VISA-logo bank cards issued by any Thai banks.

--It DOES provide protection for U.S. bank-issued VISA-logo cards when they're used outside the U.S., as well as when used inside the U.S.

[4evermaat]

USAA Federal Savings Bank provides free ACH transfers to Bangkok Bank, which does make a charge to receive them. The resulting cost are about as low as you can get them. USAA provides excellent service, such as its bill pay service. Since their customer base is military, they don't blanche at US expats.

I'm with USAA also...I use them as one of my core accounts and all my BillPay, but I don't use their debit or credit cards since they charge a foreign transaction fee; use other banks for the debit and credit cards....cards which do not provide any foreign transaction fee and reimburse ATM fees if required. Many times a person needs to have several bank accounts to get the best "overall" deal and "cover all the bases"...and then you may want to open few additional accounts as backup, like for backup no foreign transaction fee debit/credit cards, to have a backup if your primary bank(s) change policies. But one thing for sure, I no longer get "fee-frustration" when transferring money or using my debit or credit cards....plus I'm covered under U.S. Consumer Protection Laws vs the little to non-existent Thai Consumer Protection Laws...I think the financial protection laws Thailand has were really written to protect the banks and not the customer. Cheers.

It is likely easier now than a decade ago when communications to home bank was not available about 20% of the time so you had to make repeated trips/use various ATM's to even get the cash (and believe most ATM limits are in the $500 range) so not much cash per day (and special weekend/holiday restrictions) and the danger of your card either losing its mag strip or being eaten or cloned. Having a joint account got an extra card for that case but that is also an added yearly expense.

As said no one shoe fits all - and expect ATM usage is more reliable than when I used it - but for me don't have an issue keeping a few hundred thousand in local account at a high interest rate than in US.

Yep. USAA is a cool bank. And most banks will allow you to request one time or permanent ATM limit increases. Not sure the maximum, but I'm guessing $2000-3000/daily if you really want it. You may have to submit something in writing for permanent increases.

i use the US based site. If I had to guess, the global site is for investors only, I think you need to be a US resident with an address to get the "good" checking account (I use my mothers address, as I live in Thailand).Since most of the bank interactions are done through the mail initially, you will need to have access to the mail from the address you use somehow.

.........

Your relative or mail forwarding company would need to scan your documents and email them to you. Most modern maildrops now offer this service for cheap where they will scan in and email you documents you request. This can cut down significantly on remailer fees. You can request to hold on to originals in the mailbox for an additional fee. But in most cases you don't need it, and the cost savings are significant.

edit: Good advice overall. No fee accounts are the best, followed by lower fee accounts. Also good to check all the different services you would use. domestic and SWIFT/int'l wire transfer fees, atm fees (and reimbursements), foreign transaction fees, ability to use an overseas mailing/billing address, etc. Customer service is another plus, which USAA is very good with (at least full members). I think just having 3-4 good options (including opening an account in thailand at a thai bank, including at least 1 bangkok bank) will put you in a very flexible position should any single option become unavailable or cumbersome.

Edited April 17, 2012 by 4evermaat

[JimGant]

Fortunately, because it was a U.S. bank/card and I reported the theft promptly, my bank restored all of the funds lost from the fraudulent purchases, though it took about a week and a half and I had to send my bank a copy of the Thai police report (written in Thai, of course) on the theft.

John, I know we've had this conversation before -- but debit cards are really less efficient than credit cards, particularly now that so many issuers are cancelling debit card cashback features (due to the new "swipe fee" related rulings).

If I had to wait one-and-a-half weeks to have my bank account refilled, I'd have taken some hits from the vendors that automatically debit my bank account. Also, I have my credit card bill debited automatically for full amount due (thus, effectively same as a debit card -- pay in full, but with an up to 60 day "float"). Not sure I'd like to have any of these direct debit payees come up empty because of a lost/stolen debit card (of course, a stolen credit card requires only reversing a fraudulent charge, not dealing with an empty bank account). That's why I immediately cut-up my USAA Debit/ATM card when received. I'd never use it in either debit or atm mode, so why have it? (I do have a USAA ATM only card, which comes without the debit mode, since it's attached to a savings account. But because of the Mc/Cirrus link, and 1% foreign transaction fee, this is reserved for deep emergencies.)

I wish my Schwab card was ATM only, since if lost/stolen, it could then not be used in the POS signature mode, as was the case with your debit/ATM card. But, since it is not confined to pin mode (ATM) only, which is definitely more secure than signature mode, it usually is carried only as far as the local moo ban bank for periodic reloads of our cash drawer. (Plus, the Schwab account is only for ATM purposes, no direct debits, and is kept minimally full, with periodic ACH pushes from my USAA bank account.)

And, per another thread, our Bangkok Bank Be1st Debit/ATM card has its debit feature neutered (setting daily limit to zero). However, it too is used only for periodic ATM pulls at the local bank. But with its neutering feature, it is even less exposed to POS fraud than the Schwab card. So, that, along with my Visa credit card, is the card of chose when traveling -- with security overriding the somewhat better Schwab FX rate.

Anyway, different strokes...... But, I can't see a debit card ever coming out ahead of a credit card (unless you can't get one, for some reason). I know you had an argument for some great cashback features of some of the debit cards you had. Is that still a factor?

[TallGuyJohninBKK]

Hello Jim, indeed, I believe we did exchange views on this topic before.... And just to note, my comments above weren't aimed at weighing the differences and merits of U.S. debit cards vs. credit cards... But rather, the comparisons of Thai bank debit cards vs. U.S. bank ones...

For me in my use, the advantages of the U.S. debit cards continue to outweigh the risks... mainly because I'm earning 3% APR right now on all my funds in both so-called "rewards" checking accounts I've kept over time -- which is better than even the longest CD I can find anywhere in the U.S. right now. (Admittedly, those kinds of accounts/rates are getting harder and harder to find and keep as time passes and the Fed continues downward pressure on interest rates. But they're holding steady for now.)

Those accounts come with VISA debit cards, no foreign currency fee, reimbursement of any Thai ATM withdrawal fees (although I almost never incur any), and waiver of those banks' own $1 or $2 per transaction out-of-network ATM fees assuming my account qualifies that month. Qualifies means making 10 or 12 POS purchase of any amount per card, along with one ACH transfer in or out per month -- which is very easy to do just thru grocery shopping, restaurants, etc.

All the deposits are FDIC insured, of course. I have daily POS limits of about $500 per account. And I keep balances in both that are sizable, so I don't have to ever worry about any issues of a short-term fraud situation causing any account balance problems. And as you know, assuming the U.S. bank account holder acts reasonably prudently, you're going to get your funds restored in the event of fraud, although it may take a week or so.

That's not to say I have any problem with using U.S. credit cards here. I surely don't, and would far far far rather use them (all with no foreign currency fee) than any of their Thai counterparts. In the past, whenever I had a major expenditure like health insurance and such, I'd always put those on the 2% cash back Schwab credit card. But these days, the 2% deals are gone, and so we're mostly down in the 1+% cash back realm for U.S. credit cards... And that's nice... but 1% on purchases doesn't replace or substitute for the 3% on account balances that I'm earning in my rewards checking accounts, which have a very similar and low risk profile.

So to answer your original question, the interest earnings of my rewards checking accounts definitely make them a better deal than any credit card I could use.

But I'm also very conscious about security with them, and for example, only ever carry one of those cards in my wallet at any time. Fortunately in years of using them, I've only ever had a single problem (the BTS one mentioned above) and that was resolved without any financial loss on my part. I'm very glad I get to operate under U.S. consumer protection laws, and not the Thai ones, if there even are any in this area.

Edited April 17, 2012 by TallGuyJohninBKK

[TallGuyJohninBKK]

Your relative or mail forwarding company would need to scan your documents and email them to you. Most modern maildrops now offer this service for cheap where they will scan in and email you documents you request. This can cut down significantly on remailer fees. You can request to hold on to originals in the mailbox for an additional fee. But in most cases you don't need it, and the cost savings are significant.

Yes, I use a mail forwarding service that sends me a monthly package via USPS Global Priority Mail for a fixed monthly price of about $25 that includes their handling/mail management service, me having online access to my mail, and the sending of the once a month envelope up to 4 lbs... Scanning documents is extra.

I'd be a little bit cautious about having mail forwarding companies opening and scanning sensitive bank documents like mailed PIN numbers, especially when the bank is likely mailing you the new card for your new account at about the same time. And of course, the actual bank cards are going to have to be re-mailed anyway since no purpose is scanning those.

All my regular bank statements are set up for paperless/online access. So pretty much the only time I get a lot of bank mail is either when opening some kind of new account, or once opened, when the big banks and card issuers start spamming me with credit offers, which I usually trash.

With my monthly mail forwarding set-up, I've rarely had any reason to pay extra ($2 per envelope contents scanned) for scanning my stuff.

[JimGant]

Qualifies means making 10 or 12 POS purchase of any amount per card,

Ah, now I remember -- a nice APR, not a cashback feature for your reward cards. I'm afraid I'd be hard pressed to meet the 10-12 purchases per month requirement, however.

And just to note, my comments above weren't aimed at weighing the differences and merits of U.S. debit cards vs. credit cards... But rather, the comparisons of Thai bank debit cards vs. U.S. bank ones.

Right. I just wanted to point out what looks the most secure, and the easiest to rectify, with the various combination options of Thai and US plastic. But, if your US debit card is not tied to an account that's tapped by direct debits -- plus, earns a nice APR -- a US debit card may be worth the risk of an empty bank account for a couple of weeks (Do you still accrue that 3% APR while the account is empty? )

[flying]

Yes, I use a mail forwarding service that sends me a monthly package via USPS Global Priority Mail for a fixed monthly price of about $25

May I ask what forwarding company?

I am trying to decide how to handle this as I leave the US soon.

I can also maintain my PO box which my kids can check. They allow you to manage a PO box

online now via USPS dot Com

[TallGuyJohninBKK]

Qualifies means making 10 or 12 POS purchase of any amount per card,

Ah, now I remember -- a nice APR, not a cashback feature for your reward cards. I'm afraid I'd be hard pressed to meet the 10-12 purchases per month requirement, however.

And just to note, my comments above weren't aimed at weighing the differences and merits of U.S. debit cards vs. credit cards... But rather, the comparisons of Thai bank debit cards vs. U.S. bank ones.

Right. I just wanted to point out what looks the most secure, and the easiest to rectify, with the various combination options of Thai and US plastic. But, if your US debit card is not tied to an account that's tapped by direct debits -- plus, earns a nice APR -- a US debit card may be worth the risk of an empty bank account for a couple of weeks (Do you still accrue that 3% APR while the account is empty? )

Always joking, Jim...

The rewards checking accounts earn the 3% interest on balances up to $25,000 in one case and $15,000 in the other. The daily limit on POS transactions is $500. Don't think the accounts are likely to be emptied in the manner you suggest.

As for the 10 or 12 POS per month, I cover most of that just thru supermarket grocery shopping, since all the places that I shop are various supermarkets that take plastic... Add in some dinners out with the wife or SO, and you've pretty much covered things without breaking a sweat...

[TallGuyJohninBKK]

Yes, I use a mail forwarding service that sends me a monthly package via USPS Global Priority Mail for a fixed monthly price of about $25

May I ask what forwarding company?

I am trying to decide how to handle this as I leave the US soon.

I've been using the Just Mail plan from USA2Me.com located in Texas...

https://www.usa2me.com/signup/pgeRatePlans.aspx?Country=Thailand&Region=67

One of the nice things about that is, although their Just Mail plan is intended for paper mail, you can also have them include small packages inside your 4 lbs Global Priority envelope if they fit, and they'll even take your items out of their shipping boxes and place them inside the envelope to assist with that.

But you also have to be careful about handling packages with them in that manner, since they base their charges on DIM (dimensional) weight, not actual weight.

So if someone sends a small light item in a large sized box, you'll get hit with charges for that. As long as the DIM weight of any original package received is under 4 lbs, then there's no extra cost to include in your envelope.

If the original DIM weight is more than 4 lbs, and you ask them to repack it (remove it from the original shipping box), then they'll calculate the savings, and charge you 50% of that... For example, if you had a 6 lbs DIM weight package that after repacking only weight 3 lbs, then you'd pay for 1 pound of extra shipping.

It's a bit complicated...but goes like this.... The savings by repacking is 3 lbs... You the customer get half of the repacking savings, meaning you're charged for the other 1/2, which is 1.5 pounds. The item after repacking weights 3 lbs plus you're charged 1/2 of the repacking savings being 1.5 lbs...for a total of 4.5 lbs. You're entitled to a total of 4 lbs per month under your monthly fee/plan... so you've gone over that by .5 lbs... And I think they round up to the next total pound weight..meaning 1 lbs extra... And their rate for that works out to about $11 or $12 per extra lbs.

As for regular mail, I get an email every time mail arrives in my account. Then I can log into their website, and see photos of the envelope... And then via the website direct that the item be trashed, saved, scanned and emailed by PDF (I believe their scan rate is an extra $2 per envelope) or re-mailed immediately (at extra charge if done beyond my regular monthly mailing).

I've been dealing with them for some years, and never had any problem in the handling of paper mail or their monthly shipments via USPS Global Priority mail. I have had some issues with them over the calculations of their handling of package mail...and it took me some time to finally understand how they handle that, and to understand what can be a substantial difference between the DIM weight of a package and the actual weight of a package.... And how to make sure that any box I'm having send to them needs to be small is dimension size in order to avoid high extra costs.

[Pib]

Maybe if Daveroc is listening in on this thread he could tell us if a tax withholding on interest, whether in a regular savings or fixed savings account, will create a passbook saving entry versus a person needing to go to the bank and ask if any tax has been withheld.

As FYI, I did get a response from Daveroc and he said when he asked he was told the gross interest appears in the passbook and then the deduction for withholding tax. So, I guess this means unless you also see a tax withholding transaction no tax was withheld. This has been my case so far but this will be the first year I've had a fixed account with a deposit amount & interest rate large enough to exceed the B20K in interest where the 15% tax is withheld....come this August when my 11 month fixed account matures I will know for sure. Thanks, Daveroc.

[NaMah]

Yes, I use a mail forwarding service that sends me a monthly package via USPS Global Priority Mail for a fixed monthly price of about $25

May I ask what forwarding company?

I am trying to decide how to handle this as I leave the US soon.

I've been using the Just Mail plan from USA2Me.com located in Texas...

https://www.usa2me.c...iland&Region=67

One of the nice things about that is, although their Just Mail plan is intended for paper mail, you can also have them include small packages inside your 4 lbs Global Priority envelope if they fit, and they'll even take your items out of their shipping boxes and place them inside the envelope to assist with that.

But you also have to be careful about handling packages with them in that manner, since they base their charges on DIM (dimensional) weight, not actual weight.

So if someone sends a small light item in a large sized box, you'll get hit with charges for that. As long as the DIM weight of any original package received is under 4 lbs, then there's no extra cost to include in your envelope.

If the original DIM weight is more than 4 lbs, and you ask them to repack it (remove it from the original shipping box), then they'll calculate the savings, and charge you 50% of that... For example, if you had a 6 lbs DIM weight package that after repacking only weight 3 lbs, then you'd pay for 1 pound of extra shipping.

It's a bit complicated...but goes like this.... The savings by repacking is 3 lbs... You the customer get half of the repacking savings, meaning you're charged for the other 1/2, which is 1.5 pounds. The item after repacking weights 3 lbs plus you're charged 1/2 of the repacking savings being 1.5 lbs...for a total of 4.5 lbs. You're entitled to a total of 4 lbs per month under your monthly fee/plan... so you've gone over that by .5 lbs... And I think they round up to the next total pound weight..meaning 1 lbs extra... And their rate for that works out to about $11 or $12 per extra lbs.

As for regular mail, I get an email every time mail arrives in my account. Then I can log into their website, and see photos of the envelope... And then via the website direct that the item be trashed, saved, scanned and emailed by PDF (I believe their scan rate is an extra $2 per envelope) or re-mailed immediately (at extra charge if done beyond my regular monthly mailing).

I've been dealing with them for some years, and never had any problem in the handling of paper mail or their monthly shipments via USPS Global Priority mail. I have had some issues with them over the calculations of their handling of package mail...and it took me some time to finally understand how they handle that, and to understand what can be a substantial difference between the DIM weight of a package and the actual weight of a package.... And how to make sure that any box I'm having send to them needs to be small is dimension size in order to avoid high extra costs.

Great post.

I thought I had a good setup with UPS but it seems anemic compared to yours. I'll probably go this way as well before I depart. Your posts have been seriously valuable. Thanks again Tall John!

Na Mah

Edited April 18, 2012 by NaMah

[TallGuyJohninBKK]

You're welcome. Glad to be of help...

Re mail forwarding places, there are several different well-known ones along with USA2Me, and there are threads here on TV on that subject. Earth Class Mail and US Global Mail are two other companies that get mentioned some, though I personally haven't dealt with them. My sense is they all operate a bit differently, and a lot depends on what priorities and needs the particular customer has.

For someone looking to move from the U.S. to Thailand, another piece of good advice is to make sure you have in place any kind of life insurance arrangements you want to have or think you may want for the future -- before you leave. Thailand seems to be a pretty lousy life insurance market, and different U.S. states have different residency rules re life insurance. It's something well worth sorting out before making any move. Especially if you think you may want to provide for a wife or SO in the future.

The same thing goes for banking arrangements. A lot of the major U.S. banks have 3% or higher foreign currency fees on all ATM withdrawals and POS purchases made outside the U.S. So someone planning to move abroad would be well-served to arrange their banking portfolio before they move to ensure, at least, that they have sufficient no-FCF debit card and credit cards in hand. Especially since U.S. consumer protection laws for banking are far superior to what little exists in Thailand. And Thai banks usually will only issue credit cards to foreigners holding work permits, unless you're willing to put down a sizable amount of cash with them to serve as a guarantee against the card.

[bangkokburning]

I use Fidelity. The site works well enough, I have never done a funds transfer although there is web option for this. Customer service is really poor, especially for overseas. Takes forever for email response and often do not answer your question but c/p some bs response to eliminate their liability.

I would not use Fidelity again, but I am locked in.

Here I use SCB. One GREAT thing abt SCB is I can use the ATM for Air Asia online purchases. Service has always been good at many branches as phone support. Loads of ATMs in Central/North/BKK. Still, I might go w/ K bank - actually has a few ATMs in South Thailand :-)

[TallGuyJohninBKK]

Not exactly a glowing recommendation for Fidelity. I've never used them myself, but one reason they'd rate below Schwab for me is, as best as I recall, their bank card products all carry at least a 1% foreign currency fee when used abroad. When it comes to stock stuff, I personally like E*Trade, and a lot of consumer advocacy types recommend Vanguard.

As for banking, SCB seems to be a mixed bag. Originally, they wouldn't open a new account for me, because I didn't have a work permit. Then, after visiting different branches and calling their HQ to be advised they SHOULD open an account for me under the bank's own policy, I finally was able to find a branch that did...after a lot of persuasion on my part still.

A couple months ago, a Kiwi friend of mine with an ASEAN card was here visiting. He's married to a Thai and they live in NZ for now, but come back here several times each year, and eventually plan on moving back her permanently. During his visit, he went around to at least a half dozen different SCB branches both in BKK and upcountry, and couldn't get any of them to open a new account for him, even when he brought his Thai wife along.

For Americans who think they might ever need to do international funds transfers between the U.S. and Thailand, BKK Bank has to be at the top of the list because of their low-cost funds transfer service via their NY branch. Unfortunately, none of the other Thai banks have any comparable service to that in terms of cost. BKK Bank also seems to have one of the better online bill pay setups among the Thai banks, with more available payees than SCB.

But, if international funds transfers and online bill pay aren't important factors, I'd stay away from BKK Bank like the plague because, in my experience, their customer service is terrible and they seem consistently weighed down my an excessively bureaucratic operating style that makes trying to accomplish even the simplest things difficult and burdensome.

[exeter]

As far as a THai bank account is concerned, the most important thing is two fold. Do they make you feel welcome and how many of the staff speak English?

I had a good experience with Kasikorn online but when I went to open the account locally they did not want to know and no one spoke English. I then went to Ayudhya ( yellow bank ) as they were still levying the 150 bts ATM fee. Made to feel very welcome and about 6 staff that have English skills and I always get a cup of tea whilst in the bank. Good luck

[TallGuyJohninBKK]

I agree about the English speaking staff aspect for us farangs....

I recently moved my BKK Bank account from the branch closest to my home...where the staff's English speaking capacity was very limited I learned over time...to a branch in a mall where I actually interviewed and found some very good English speaking staff... In addition to the fact that the mall branches are open evenings and weekends, unlike the regular branches that close at 3 pm (?) and mostly only open on weekdays.

I used the word "interviewed" intentionally, because that's exactly what I did before I agreed to open the account at the new branch. Sat down, talked with the staff in English, asked questions, asked for explanations of things, asked what they'd require if I wanted to do this or that...and paid careful attention to what the staff knew and how (and how well) they answered my questions. When I was satisfied, I agreed to open the new account with them.

[4evermaat]

I agree about the English speaking staff aspect for us farangs....

I recently moved my BKK Bank account from the branch closest to my home...where the staff's English speaking capacity was very limited I learned over time...to a branch in a mall where I actually interviewed and found some very good English speaking staff... In addition to the fact that the mall branches are open evenings and weekends, unlike the regular branches that close at 3 pm (?) and mostly only open on weekdays.

I used the word "interviewed" intentionally, because that's exactly what I did before I agreed to open the account at the new branch. Sat down, talked with the staff in English, asked questions, asked for explanations of things, asked what they'd require if I wanted to do this or that...and paid careful attention to what the staff knew and how (and how well) they answered my questions. When I was satisfied, I agreed to open the new account with them.

If the bank account was opened in the same province as the old account, was there any reason why (advantage) you had to opening a brand new account in the specific branch that you favored? I understand some years ago you had to return to the opening branch to make changes to your account, but nowadays you fill out a form when you want to make changes and it is done at the corporate level?

[TallGuyJohninBKK]

If the bank account was opened in the same province as the old account, was there any reason why (advantage) you had to opening a brand new account in the specific branch that you favored? I understand some years ago you had to return to the opening branch to make changes to your account, but nowadays you fill out a form when you want to make changes and it is done at the corporate level?

A couple of reasons as I mentioned above:

--My old branch with BKKB was a standalone branch that's only open weekdays till mid-afternoon, like most Thai bank standalone branches. The new branch where I moved my account is in a mall location that's open later in the afternoons and evenings on weekdays and on weekends as well.

--My old branch, despite being in a farang area, had accounts staff who seemed to speak and understand little or no English. At the new branch, before I opened the account there, I interviewed and identified accounts staff I could deal with there who are very fluent in English.

--I got fed up with the spectacularly bureaucratic and unhelpful attitudes of the BKKB bank staff I was dealing with in the old branch. Hopefully, and from my limited experience thus far, the staff in the mall branch seem more helpful and cooperative.

Based on my bad experiences with the staff at the old BKKB branch, I would have closed out my account with the bank entirely. But I wanted to keep an account open with BKKB because of their good U.S.-Thailand funds transfer network and their online billpay system that incorporates more payees than several other Thai banks I've dealt with.