Hsbc Personal Banking Taken Over By Ktb?

[bkkjames]

Mate told me that as of yesterday, Krung Thai took over HSBC Personal Banking in TH?

[samtam]

No, Krungsri - (Bank of Ayuddyha), as of 30 June 2012. HSBC, Thailand's first bank does not see any merit in personal banking in the kingdom.

[howzat]

Any reviews about Krungsri service

[samtam]

Bit early to say, but my HSBC relationship manager has transferred to Krungsri in the same capacity, and she was great at HSBC, so I would expect the same. The systems at Krungsri are not as user friendly as those at HSBC - linked accounts etc.

[yoshiwara]

Bit early to say, but my HSBC relationship manager has transferred to Krungsri in the same capacity, and she was great at HSBC, so I would expect the same. The systems at Krungsri are not as user friendly as those at HSBC - linked accounts etc.

I would expect/hope? that Krungsri intend to maintain/continue many/most of the HSBC customers they have inherited. Previous staff would be expected to continue as well.

Keeping one's existing account for now would be the wise move.

[howzat]

Bit early to say, but my HSBC relationship manager has transferred to Krungsri in the same capacity, and she was great at HSBC, so I would expect the same. The systems at Krungsri are not as user friendly as those at HSBC - linked accounts etc.

agreed about Relationship Manager and Systems.. Opened with Standard Chartered as well as their Internet Banking system similar to HSBC just in case.

[georgey]

so far I'm not too thrilled by Krungsri......

firstly they told me that we (my wife & I) could only have one ATM card on our joint a/c - something they later saw sense on & reversed the policy......

then they claimed (& still claim) that we can't have internet banking because we have a joint a/c (why? I wonder)

lastly, of course, one year after the takeover, the minimum a/c balance requirement kicks in (I'm not clear on whether it's 2, 3, or 5MB) if you wish to maintain so-called "Exclusive" status (the benefits of which have so far escaped me). With HSBC "Premier" a/c status was automatic as long as you qualified for it with an a/c in another country.....

So HSBC's claim that customers would not be in any way disadvantaged or inconvenienced by the deal looks, from my point of view at least, to be very shaky indeed. I think they were just relieved to get shot of the business.....

[SantiSuk]

So far ok (3 months). First impression was poor at the Krungsri on soi Thonglor. I offered them a copy of my condo deed as one of the papers when I first transfered from HSBC Premier to their Exclusive Banking. It was not a stated requirement and many would not have a condo anyway. Pure jobsworth insisted that I show them the original document before they would sign me up. I said that was in SiSaket and when they still seemed unhappy I suggested we wrap up and I'd go find a bank that wanted me (wife cringing in the corner). We got on fine after that!

At least I have an account that pays some interest (2.9%) on an account with debit and ATM cards and internet banking access to make payments and see transactions (as long as I keep the withdrawals down to 2 a month). That's pretty much all I need at the moment.

After 2 years with HSBC Premier with a pretty substantial sum (millions not thousands) in a so-called Savings account (but also one that functioned more like a current account) I got precisely 486 baht interest credited on closure (nothing previous)! OK so Im a bit lazy with having a rather large cash float and thinking I'm going to get round to invest somewhere in Thailand, but I had long observed the fact that my so-called relationship manager never tried to have a relationship, nor suggest I might use the money more effectively in a different account. Good riddance HSBC. If I can get enough time in the UK to organise it with time to correct for inevitable glitches I will be switching mine and the families UK accounts away from the bank that laughingly still makes play of its international cred.

Edited July 27, 2012 by SantiSuk

[Dukgae]

also so far OK with Krungsri, except that they wouldn't give me an additional ATM card for my spouse to use. Service has been quite good, got a new relationship manager who is very helpful and speaks good English. Actually in a way it's better, as I live in Samui and HSBC not being allowed to have any branch here was sometimes problematic and made things slow eg getting bank letter for immigration (I don't travel to Bangkok if I can help it). Still got my HSBC credit card, valid till end of this year they said, so will see how efficient KTB are when it comes to getting a card from them.

[samtam]

so far I'm not too thrilled by Krungsri......

firstly they told me that we (my wife & I) could only have one ATM card on our joint a/c - something they later saw sense on & reversed the policy......

then they claimed (& still claim) that we can't have internet banking because we have a joint a/c (why? I wonder)

lastly, of course, one year after the takeover, the minimum a/c balance requirement kicks in (I'm not clear on whether it's 2, 3, or 5MB) if you wish to maintain so-called "Exclusive" status (the benefits of which have so far escaped me). With HSBC "Premier" a/c status was automatic as long as you qualified for it with an a/c in another country.....

So HSBC's claim that customers would not be in any way disadvantaged or inconvenienced by the deal looks, from my point of view at least, to be very shaky indeed. I think they were just relieved to get shot of the business.....

Glad you got the ATM card sorted out for your joint account. We didn't have a problem with that, or with getting internet banking for the joint account. Didn't you do the account transfer with your HSBC relationship manager?

I agree, the terms of service will change after 1 year, and I think it's THB5m per person (for a joint account that's pretty hefty). I do not intend to take up this offer, and it does indeed stuff up the Premier Relationship that was afforded us previously by virtue of large deposits held within your HSBC branches overall. I have no intention of having so much THB doing bugger all. HSBC is not exactly a name to conjure with at the moment with all their compliance issues in the USA, and the hounding of its previous chairman, Stephen Green. But then again, no bank really is, and HSBC does have the edge on a number of its services, and if they weren't up to scratch I could always get satisfaction. I am hugely disappointed they have closed here, (and in Japan too), where they were the first bank aswell. As a shareholder I do of course understand the need for this change, but it is sad that banking has lost its focus on customers, and because of its involvement in businesses it had no right to be involved in, we are paying the price, so obviously I don't think it's altogether a good thing. The share performance is pretty dire too, but so are most, in every sector.