Best Thai Bank To Have Accounts With In Phuket

[petercallen]

What i would like to know is which is the best bank to deal with regarding

investment accounts, credit cards and general service in Phuket

I want to change the bank i deal with either to another branch of the same bank

or a different bank

My current bank manager who i have been dealing with for 6 years seems to think all farangs

come from underneath mushrooms

Thanks in advance for any replies

Edited March 1, 2013 by petercallen

[Valentine]

I find Kbank in Chalong to be OK. I have a current account for our business & personal savings account with ATM debit card which can be used overseas. ATM card from Bangkok Bank has a special chip which is supposedly better for security purposes. I recently opened a savings account there without any hassle but I mainly use it make a couple of automatic monthly payments.

[tolsti]

I have both KBank and Bangkok Bank. I use the KBank most of the time as it has the sms alert system each time the card is used, in whichever ATM you use. Sometimes the sms arrives even before the card has come out of the machine after withdrawing cash,

A number of my colleagues had their cards skimmed (BKK Bank) and had to change to the new card which has a chip but you are limited to BKK Bank ATMs if you want cash.

[keestha]

Kasikorn bank is very quick with money transfers coming in from abroad.

[petercallen]

I Kbank the one that allowes you to use your credit card up to the security deposit amount

My current bank only allowes me credit of 50% of the security deposit Amount

[Valentine]

I Kbank the one that allowes you to use your credit card up to the security deposit amount

My current bank only allowes me credit of 50% of the security deposit Amount

I personally do not see the point in having a "credit" card where you are only allowed to use "credit" up to the amount or 50% of what you have deposited. This surely is not a credit card. The ATM debit cards which are issued have either MC or Visa on them which can be used in any ATM anywhere. Perhaps you might not be able to use it when checking into a hotel, for example, but I have never put that to the test. Can buy stuff online with them including airline tickets.

[Colonel_Mustard]

I've personally found Siam Commercial bank to be the best option.

[N47HAN]

For me Siam Commercial Bank ( @ the main Tescos ) 10years same bank , not one problem both buisiness and personal accounts.

But from previous posts you will see its not so much the particular bank you use rather how the branch of that bank is managed and by whom.

[petercallen]

I Kbank the one that allowes you to use your credit card up to the security deposit amount

My current bank only allowes me credit of 50% of the security deposit Amount

I personally do not see the point in having a "credit" card where you are only allowed to use "credit" up to the amount or 50% of what you have deposited. This surely is not a credit card. The ATM debit cards which are issued have either MC or Visa on them which can be used in any ATM anywhere. Perhaps you might not be able to use it when checking into a hotel, for example, but I have never put that to the test. Can buy stuff online with them including airline tickets.

You need a credit card for car rental among other things, they charge a security deposit and when you return the vehicle its credited to your card, most if not all major car and camper rental businesses will only except credit card paymeent not cash or debit card in my experience Edited March 1, 2013 by petercallen

[petercallen]

ts

For me Siam Commercial Bank ( @ the main Tescos ) 10years same bank , not one problem both buisiness and personal accounts.

But from previous posts you will see its not so much the particular bank you use rather how the branch of that bank is managed and by whom.

Its the bank managers not the bank, i have now opened a account with the SCB in Rawai, same bank diferent branch

to transfer money into

If i tell a bank manager i intend to transfer money i rxpect the rate he quotes me not a lower rate

the last time i transfered money if i had excepted the lower rate it would have cost me 210,000 baht or $7,000

[Jimi007]

ts

For me Siam Commercial Bank ( @ the main Tescos ) 10years same bank , not one problem both buisiness and personal accounts.

But from previous posts you will see its not so much the particular bank you use rather how the branch of that bank is managed and by whom.

Its the bank managers not the bank, i have now opened a account with the SCB in Rawai, same bank diferent branch

to transfer money into

If i tell a bank manager i intend to transfer money i rxpect the rate he quotes me not a lower rate

the last time i transfered money if i had excepted the lower rate it would have cost me 210,000 baht or $7,000

I'm really not sure how you expect a bank manager to control the exchange rate. It's not set by them, it's set by the bank headquarters and can vary by the hour and day. But I do like the Siam Commercial branch here in Rawai much better than the one in Chalong where I first opened my account. There were no banks in Rawai at the time. I also have two Bangkok Bank accounts at two different branches. The manager at the Bangkok Bank at Tesco up in Chalong is the worst ever! I had to call a supervisor in Bangkok about her. She wouldn't even answer her phone when the supervisor called her and hid in the back room! I had to hand my mobile phone with the supervisor on the line to the second in charge who was trying to ignore me as well. He was ordered in no uncertain terms to take care of the issue... Which was to issue a replacement ATM card as my old one broke in half.

[patongphil]

Not sure how this exchange rate thing works. Last few times I have sent money over in AUD but not received the appropriate TT rate. This is with Kasikorn in Jung Ceylon. Not there at present so cannot query in person. But definitely got less than 30 when rates have been around the 30.3 to 30.7 the last few transfers!!

[Phronesis]

I have accounts with Kbank, Krungthai, and Krungsi.

I found the service at both Kbank and Krungthai exceptional.

I have had a lot of problems dealing with Krungsi, but I bank there religiously twice each week.

My teller is stunning from head to toe...

[petercallen]

Not sure how this exchange rate thing works. Last few times I have sent money over in AUD but not received the appropriate TT rate. This is with Kasikorn in Jung Ceylon. Not there at present so cannot query in person. But definitely got less than 30 when rates have been around the 30.3 to 30.7 the last few transfers!!

When you transfer money from australia via the Internet its done on the spot and you receave proof of transfer

I was told by The National Australia bank that Thai banks will hold the money up in Thailand so it can be used in the short term money market for a few days before they deposit it in your bank account

The exchange rate does vary sometimes up sometimes down, but the banks here wait to the exchange rate is

down before changing it if they can get away with it,The last time i transfered money the bank manager

gave me the rate he quoted because i told him i would trasfer the money back to Australia if he did not

[stevenl]

Not sure how this exchange rate thing works. Last few times I have sent money over in AUD but not received the appropriate TT rate. This is with Kasikorn in Jung Ceylon. Not there at present so cannot query in person. But definitely got less than 30 when rates have been around the 30.3 to 30.7 the last few transfers!!

When you transfer money from australia via the Internet its done on the spot and you receave proof of transfer

I was told by The National Australia bank that Thai banks will hold the money up in Thailand so it can be used in the short term money market for a few days before they deposit it in your bank account

The exchange rate does vary sometimes up sometimes down, but the banks here wait to the exchange rate is

down before changing it if they can get away with it,The last time i transfered money the bank manager

gave me the rate he quoted because i told him i would trasfer the money back to Australia if he did not

Normally your Australian bank will hold it for a day as will the Thai bank, so the transfer will take 2 days. Despite your Australian bank claiming it, the transfer is not done on the spot. And no, the Thai bank does not wait for the exchange rate to go down, they will simply follow their procedures: receive the money, wait the alloted time, exchange, no matter what the exchange rate is.

[madmitch]

I Kbank the one that allowes you to use your credit card up to the security deposit amount

My current bank only allowes me credit of 50% of the security deposit Amount

I personally do not see the point in having a "credit" card where you are only allowed to use "credit" up to the amount or 50% of what you have deposited. This surely is not a credit card. The ATM debit cards which are issued have either MC or Visa on them which can be used in any ATM anywhere. Perhaps you might not be able to use it when checking into a hotel, for example, but I have never put that to the test. Can buy stuff online with them including airline tickets.

You need a credit card for car rental among other things, they charge a security deposit and when you return the vehicle its credited to your card, most if not all major car and camper rental businesses will only except credit card paymeent not cash or debit card in my experience

Don't you need a work permit to get a Thai credit card?

[phuketsub]

I have accounts with Kbank, Krungthai, and Krungsi.

I found the service at both Kbank and Krungthai exceptional.

I have had a lot of problems dealing with Krungsi, but I bank there religiously twice each week.

My teller is stunning from head to toe...

KBank is good and they have a good network of ATMs.Their online banking system is also very good and has made my life a lot easier since I started using it about six months ago However, they also seem to get hacked and robbed more than the other banks.I never had any problems with Krungsri when I dealt with them. Stay away from UOB.

[petercallen]

I Kbank the one that allowes you to use your credit card up to the security deposit amount

My current bank only allowes me credit of 50% of the security deposit Amount

I personally do not see the point in having a "credit" card where you are only allowed to use "credit" up to the amount or 50% of what you have deposited. This surely is not a credit card. The ATM debit cards which are issued have either MC or Visa on them which can be used in any ATM anywhere. Perhaps you might not be able to use it when checking into a hotel, for example, but I have never put that to the test. Can buy stuff online with them including airline tickets.

You need a credit card for car rental among other things, they charge a security deposit and when you return the vehicle its credited to your card, most if not all major car and camper rental businesses will only except credit card paymeent not cash or debit card in my experience

Don't you need a work permit to get a Thai credit card?

Just a retirement visa and sufficient money in bank accounts

And tell the bank manager if he will not give you one you will change banks

[IrishIvan]

Not sure how this exchange rate thing works. Last few times I have sent money over in AUD but not received the appropriate TT rate. This is with Kasikorn in Jung Ceylon. Not there at present so cannot query in person. But definitely got less than 30 when rates have been around the 30.3 to 30.7 the last few transfers!!

When you transfer money from australia via the Internet its done on the spot and you receave proof of transfer

I was told by The National Australia bank that Thai banks will hold the money up in Thailand so it can be used in the short term money market for a few days before they deposit it in your bank account

The exchange rate does vary sometimes up sometimes down, but the banks here wait to the exchange rate is

down before changing it if they can get away with it,The last time i transfered money the bank manager

gave me the rate he quoted because i told him i would trasfer the money back to Australia if he did not

Normally your Australian bank will hold it for a day as will the Thai bank, so the transfer will take 2 days. Despite your Australian bank claiming it, the transfer is not done on the spot. And no, the Thai bank does not wait for the exchange rate to go down, they will simply follow their procedures: receive the money, wait the alloted time, exchange, no matter what the exchange rate is.

Sorry Steven you are wrong. I've experienced Thai banks on many occasions not clearing money when they should have. I've heard my NAB bank account say the same thing that the managers of the particular branch you bank with will punt the money on the short term money market. Petercallen is 100% correct

[stevenl]

Not sure how this exchange rate thing works. Last few times I have sent money over in AUD but not received the appropriate TT rate. This is with Kasikorn in Jung Ceylon. Not there at present so cannot query in person. But definitely got less than 30 when rates have been around the 30.3 to 30.7 the last few transfers!!

When you transfer money from australia via the Internet its done on the spot and you receave proof of transfer

I was told by The National Australia bank that Thai banks will hold the money up in Thailand so it can be used in the short term money market for a few days before they deposit it in your bank account

The exchange rate does vary sometimes up sometimes down, but the banks here wait to the exchange rate is

down before changing it if they can get away with it,The last time i transfered money the bank manager

gave me the rate he quoted because i told him i would trasfer the money back to Australia if he did not

Normally your Australian bank will hold it for a day as will the Thai bank, so the transfer will take 2 days. Despite your Australian bank claiming it, the transfer is not done on the spot. And no, the Thai bank does not wait for the exchange rate to go down, they will simply follow their procedures: receive the money, wait the alloted time, exchange, no matter what the exchange rate is.

Sorry Steven you are wrong. I've experienced Thai banks on many occasions not clearing money when they should have. I've heard my NAB bank account say the same thing that the managers of the particular branch you bank with will punt the money on the short term money market. Petercallen is 100% correct

Naw, your Australian bank is looking for a scapegoat for their own greed.

And no, a manager at a particular bank has no influence at all on timing of clearance or exchange rate. Although he has the authority to improve the exchange rate slightly, but he does not have the authority to fix rates or delay/speedup clearance.

[NamKangMan]

I'll cast my vote for Kasikorn Bank for many of the reasons already mentioned.

Their online banking mainframe is quite user friendly.

I only keep my day to day living expenses in this Thai bank (I'm under 50 years of age - no 850,000 Thai baht "investment" needed from me) but I find their banking reliable.

[petercallen]

Stevenl knows nothing about how Australian banks operate just thinks he does

You or your authorized representative can transfer money from any bank branch

it does not go through the banks head office its done at the branch

They take the required amount from your bank then do the transfer in front of you

and give you a statement stating the amount and time of the transfer and what bank account its been transferred to

And only takes a few minutes,Its transferred in Australian dollars and changed into baht in Thailand

My bank in Australia could send it in Baht but i get a better exchange rate here

Edited March 2, 2013 by petercallen

[NamKangMan]

Stevenl knows nothing about how Australian banks operate just thinks he does

You or your authorized representative can transfer money from any bank branch

it does not go through the banks head office its done at the branch

They take the required amount from your bank then do the transfer in front of you

and give you a statement stating the amount and time of the transfer and what bank account its been transferred to

And only takes a few minutes,Its transferred in Australian dollars and changed into baht in Thailand

My bank in Australia could send it in Baht but i get a better exchange rate here

If you live in Thailand, how can you be in your branch in Austraila????

I, like many others in Thailand, transfer money from a home country bank account to a Thai bank. That means, you are not in your branch, in person. Such electronic transfers take time to be processed/cleared, by the home county branch, and the receiving Thai bank.

What you on about Peter????

[petercallen]

Stevenl knows nothing about how Australian banks operate just thinks he does

You or your authorized representative can transfer money from any bank branch

it does not go through the banks head office its done at the branch

They take the required amount from your bank then do the transfer in front of you

and give you a statement stating the amount and time of the transfer and what bank account its been transferred to

And only takes a few minutes,Its transferred in Australian dollars and changed into baht in Thailand

My bank in Australia could send it in Baht but i get a better exchange rate here

If you live in Thailand, how can you be in your branch in Austraila????

I, like many others in Thailand, transfer money from a home country bank account to a Thai bank. That means, you are not in your branch, in person. Such electronic transfers take time to be processed/cleared, by the home county branch, and the receiving Thai bank.

What you on about Peter????

You should really know what you are talking about

My son has power of attorney and the right to operate my Australian bank account in my absence

Its the same if i go to my Australian bank and transfer money to my Thai bank myself

Keep up

[NamKangMan]

Stevenl knows nothing about how Australian banks operate just thinks he does

You or your authorized representative can transfer money from any bank branch

it does not go through the banks head office its done at the branch

They take the required amount from your bank then do the transfer in front of you

and give you a statement stating the amount and time of the transfer and what bank account its been transferred to

And only takes a few minutes,Its transferred in Australian dollars and changed into baht in Thailand

My bank in Australia could send it in Baht but i get a better exchange rate here

If you live in Thailand, how can you be in your branch in Austraila????

I, like many others in Thailand, transfer money from a home country bank account to a Thai bank. That means, you are not in your branch, in person. Such electronic transfers take time to be processed/cleared, by the home county branch, and the receiving Thai bank.

What you on about Peter????

You should really know what you are talking about

My son has power of attorney and the right to operate my Australian bank account in my absence

Its the same if i go to my Australian bank and transfer money to my Thai bank myself

Keep up

I think it's you that is behind the times.

Why waste your son's time by having him drive around looking for a car park, then walking to the branch, then waiting in a que, then dealing with staff, to do your bank transfer in person, in the branch, in Australia????

YOU can do it youself, over the internet, just allow a couple of days for funds to clear. When funds get a little low in your Thai bank, jump online to your Australian bank and transfer the money. It will be there before your Thai bank has insufficient funds.

Why turn a 2 minute job for you, online, into a 1 hour job for your son????

Not exactly rocket science.

Edited March 2, 2013 by NamKangMan

[Jimi007]

Stevenl knows nothing about how Australian banks operate just thinks he does

You or your authorized representative can transfer money from any bank branch

it does not go through the banks head office its done at the branch

They take the required amount from your bank then do the transfer in front of you

and give you a statement stating the amount and time of the transfer and what bank account its been transferred to

And only takes a few minutes,Its transferred in Australian dollars and changed into baht in Thailand

My bank in Australia could send it in Baht but i get a better exchange rate here

If you live in Thailand, how can you be in your branch in Austraila????

I, like many others in Thailand, transfer money from a home country bank account to a Thai bank. That means, you are not in your branch, in person. Such electronic transfers take time to be processed/cleared, by the home county branch, and the receiving Thai bank.

What you on about Peter????

You should really know what you are talking about

My son has power of attorney and the right to operate my Australian bank account in my absence

Its the same if i go to my Australian bank and transfer money to my Thai bank myself

Keep up

I think it's you that is behind the times.

Why waste your son's time by having him drive around looking for a car park, then walking to the branch, then waiting in a que, then dealing with staff, to do your bank transfer in person, in the branch, in Australia????

YOU can do it youself, over the internet, just allow a couple of days for funds to clear. When funds get a little low in your Thai bank, jump online to your Australian bank and transfer the money. It will be there before your Thai bank has insufficient funds.

Why turn a 2 minute job for you, online, into a 1 hour job for your son????

Not exactly rocket science.

Have to agree with you on this one NKM. I'm sure my daughter in California, who has a full time job as a marketing manager and a life of her own, wouldn't want to be running to the bank for me every month! At least there is a Bangkok Bank branch office in New York. I can directly transfer online to it from Bank of America and then my account here is credited within two to five days, depending on the fee I want to pay. I get the morning TT exchange rate as they do deposit it on the morning it is received here. But I think Peter transfers larger amounts and not as often as I do. So, to each his own...

[petercallen]

NanKangMan know what you are talking about

My son does not have to look for a parking spot he can park within 50 metres of the bank

Its australia not Thailand parking is no problem and he does not have to wait for service

You are wrong the amount of money i transfer cannot be done on the Internet from Thailand

In the beginning when i first decided to make Phuket my home i transferred $30K AUD at a time

Now i transfer a lot more each time if the exchange rate is right,also i can keep it in Australian

dollars in my Thai bank for 12 months and send it back to my Australian bank if i am not happy with the exchange rate

I never have insufficient funds in my Thai bank accounts, not like some people

I would like to know more about the best Thai bank to deal with, not someone who tries to tell me how

To deal with banks in Australia or Thailand, Who in MHO does not have a clue just thinks he does

[petercallen]

I have he sufficient funds in Thai bank accounts to live comfortably for !0 years

The reason i am bring extra money is the Taxation Dept in Australia is trying to

screw me with new higher tax rates because i retired to Phuket

I am not going to spend 6 months of the year in Australia to get normal rates of tax

I should have been a politician or a alcoholic metho drinker living under a bridge

Then i would have no higher tax rates

[NamKangMan]

NanKangMan know what you are talking about

My son does not have to look for a parking spot he can park within 50 metres of the bank

Its australia not Thailand parking is no problem and he does not have to wait for service

You are wrong the amount of money i transfer cannot be done on the Internet from Thailand

In the beginning when i first decided to make Phuket my home i transferred $30K AUD at a time

Now i transfer a lot more each time if the exchange rate is right,also i can keep it in Australian

dollars in my Thai bank for 12 months and send it back to my Australian bank if i am not happy with the exchange rate

I never have insufficient funds in my Thai bank accounts, not like some people

I would like to know more about the best Thai bank to deal with, not someone who tries to tell me how

To deal with banks in Australia or Thailand, Who in MHO does not have a clue just thinks he does

Well, unless your son lives 50 meters from the bank, and parks in his own driveway, I don't know how you can say he can ALWAYS park 50 meters from the bank. Anyway, that's off topic.

What is on topic is the fact that the Australian Tax Office has deemed you to be a non-resident. This is something that may not have happened if you only moved $9999AUD in a single transaction, thus, the transaction is not reported.

Anyway, what do I know, Peter?

Why do you bother to post a question if you are not prepared to absorb all of the info, do further research yourself, and make an informed decision????

Edited March 2, 2013 by NamKangMan

[bearpolar]

Kasikorn @ central.

Been using for many years. No issues ever. Problem? Call 24hrs and get someone who speaks perfect english with no thai or indian accent.