Opening A New Account

[TomTom55]

Hello fellow expats. I have had a bank account with kasikorn for nearly 3 years, but I rarely used it at all. I went to the bank a couple of days ago as I need to make sure it was okay as I am setting up a paypal account and need to sort out the bank details sharpish. I had a feeling before I went they may have closed it due to the lack of activity and sure enough they had, I didn't have any money in there are the time.

Anyway, I spoke with somebody in the bank and they said that to open an account with an ATM card and to setup a direct debit would cost 900baht, 500 of that would be for the ATM card and would go into my account. Would I be able to take this money out? Also what are your thoughts on the best bank to open up an account at this moment in time?

Regards Tom

[theoldgit]

I think Kasikorn might have a minimum opening balance of 500 Baht, in fact that's what it says on their website, assuming you want a savings account, but as with all things interpretation of the rules varies from branch to branch, and indeed cashier to cashier.

http://www.kasikornbank.com/EN/Personal/BankAccounts/Saving/Pages/SavingDeposits.aspx

Their bog standard debit card costs 100 Baht, with a 200 Baht annual fee, they have other debit cards which costs 150 + 250, which may be the one you were offered and one at 150 + 550, which gives you a bit of insurance.

http://www.kasikornbank.com/EN/Personal/Debit/Pages/KDebit.aspx

[TomTom55]

Thanks for the reply oldgit, this is Thailand and as we all know prices, laws and all that jazz can change from location to location or person to person hehe. She simply said to me that it would all cost 900baht total to open an account along with a direct debit set up. What is your opinion on kasikorn anyway? I never knew about the annual fee of 200baht, I assume they just take it from your account..

[theoldgit]

I've been with for years, never ever had a problem with them.

[Tafia]

Same here, their online banking with one time password is easy to use and the sms alert an added bonus. Been with them 4 yrs now.

[TomTom55]

I just opened my account and had a joke and laugh with the staff, as usual they were shocked that a farang can speak Thai at a half decent level. Anyway I set up a direct debit and online banking, they said that 2moro they will sms me a password, but what do I do with this password? I got slightly confused with that part. Am I okay to put the details into paypal today or do I have to wait until tomorrow?