Best Bank To Open A New Account

[krummi]

Need to open a bank account. The account will be largely dormant and only have about 5-10 transactions per year, mainly to deposit some cheques then all money will be withdrawn. What's the best bank to open such an account? Needless to say, the account itself should be free of charge (no monthly or annual charges), with no minimum balance requirred to keep it open. If I can get a free ATM card for withdrawals, fine, but not a must.

Any advice appreciated!

[FunFon]

Haven't come across free free, but all seem to have the same quite low charges as long as you keep a few thousand baht in there and don't let it go inactive more than ?six months?

Kasikorn's got much better customer service than Bangkok Bank IMO, but the latter has a US branch you can transfer funds to Thailand at domestic rates if that's an issue for you.

Otherwise much of a muchness, if you don't have a WP just try different branches until you get a tourist-friendly one.

Opening in a shopping mall gives you much more convenient opening hours for the (now relatively few) transactions where you have to go to the home branch of your account.

[krummi]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

[arthurwait]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

That may have something to do with the intelligence of their staff.

[a99az]

Best bank, like looking for an honest second hand car dealer or lawyer. They all have one thing in common, SELF.

[FunFon]

I think selecting a bank based on the fact they have no customers may not be the way to go.

Very very few transactions require going inside, just make sure there's a branch nearby with the three machines available from outside 24x7 - ATM, passbook update and cash deposit.

[somchaimaidai]

Citibank TH (for international service)and Kasekorn for local transactions.

[chris2004]

Kasikorn aren't free, they've just charged me 550 baht, i presume an annual fee.

[AlexDorneles]

Whatever bank account you open do yourself a favor when they give you your visa ATM card linked to your account. Ask them to disable the card for point of sale purchases, in other words use it only for ATM withdraws w/ a PIN. If you lose your card or it is stolen you will be liable for all charges made to your account. You will never see your money back. Even if the thief makes a sloppy imitation of your signature in the sales receipt and it is clearly not yours.

[BlackPuddingBertha]

Kasikorn aren't free, they've just charged me 550 baht, i presume an annual fee.

That will surely be for some sort of card, not for the account. You dont have to have a card, and there are cheaper cards.

[topt]

The OP needs to ask each bank what is the minimum cost to open an account and the annual charge - and make it clear you do not want any of their insurance policies

As far as I am aware the minimum on-going annual charge is about 200 baht which you pay first when you open plus the cost of the ATM card which may be a further 2-300 baht.

If you need an ATM/debit card it is probably higher.

You may be able to get one without an ATM card which presumably would reduce the annual charge.

[BlackPuddingBertha]

As far as I am aware the minimum on-going annual charge is about 200 baht which you pay first when you open plus the cost of the ATM card which may be a further 2-300 baht.

I dont pay any sort of fee for several accounts without cards that I have with various banks. My cards cost 200B/year (Kbank) and 500B/3 years (TMB).

[Markaew]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

I like SCB because of the ease of setting up Internet access. Other banks are a pain to setup Internet access. With SCB you need to have a ATM or Debit card to start that service. Easy for transferring and topping up your phone. They also have a New York branch as well.

[Pib]

Kasikorn aren't free, they've just charged me 550 baht, i presume an annual fee.

That will surely be for some sort of card, not for the account. You dont have to have a card, and there are cheaper cards.

Probably some insurance also included in that cost....normally, a standard debit/ATM card costs 200 baht/year at most Thai banks. I've read other posts where customers have unknowingly signed up for some type of accident/health/life insurance when setting up the bank account.

[Langsuan Man]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

I like SCB because of the ease of setting up Internet access. Other banks are a pain to setup Internet access. With SCB you need to have a ATM or Debit card to start that service. Easy for transferring and topping up your phone. They also have a New York branch as well.

Sorry, Bankgkok Bank has a NY office, not SCB

To the OP, although you say you are not going to use the account much I would urge you to get an account at a shopping mall branch of one of the major banks, since that will become your home branch and you sure want it open when you do need access

Edited April 21, 2013 by Langsuan Man

[Pib]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

I like SCB because of the ease of setting up Internet access. Other banks are a pain to setup Internet access. With SCB you need to have a ATM or Debit card to start that service. Easy for transferring and topping up your phone. They also have a New York branch as well.

Sorry, Bankgkok Bank has a NY office, not SCB

To the OP, although you say you are not going to use the account much I would urge you to get an account at a shopping mall branch of one of the major banks, since that will become your home branch and you sure want it open when you do need access

Yea, never heard of Siam Commercial Bank (SCB) having a foreign/U.S. branch; maybe Markaew meant Standard Chartered Bank (Thailand), however Standard Chartered Bank in Thailand is a completely separate business unit from Standard Chartered Bank in other countires. Bangkok Bank is the only Thai bank I'm aware of with a U.S. branch which permits low cost ACH transfers versus pricey SWIFT transfers.

[Ebenezer]

I also think you will not be able to avoid some charges but in my experience they are not expensive. I tried to open at several banks and most wouldn't help but I know other people succeeded where I failed. The only one that would help me was SCB and my experience with them has been good.

You get a better exchange rate if you transfer money in with an internet currency trader (compared with banks in the UK, I don't know about the US) and SCB have a good internet service for keeping track. I would suggest though that you access your account at least monthly as I found that if I didn't the password was blocked and required a phone call to reset it.

[Markaew]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

I like SCB because of the ease of setting up Internet access. Other banks are a pain to setup Internet access. With SCB you need to have a ATM or Debit card to start that service. Easy for transferring and topping up your phone. They also have a New York branch as well.

Sorry, Bankgkok Bank has a NY office, not SCB

To the OP, although you say you are not going to use the account much I would urge you to get an account at a shopping mall branch of one of the major banks, since that will become your home branch and you sure want it open when you do need access

You are ABOSOLUTELY INCORRECT!!! SCB does have a branch in New York.

[Pib]

You are ABOSOLUTELY INCORRECT!!! SCB does have a branch in New York.

Can you provide a weblink reference...like maybe a SCB weblink that gives the info.

[Langsuan Man]

Paperwork such as WP not an issue at all. Somebody recommended Siam Commercial, but would like to get some other views. Kasikorn seems to have massive queques, trying to avoid that...

I like SCB because of the ease of setting up Internet access. Other banks are a pain to setup Internet access. With SCB you need to have a ATM or Debit card to start that service. Easy for transferring and topping up your phone. They also have a New York branch as well.

Sorry, Bankgkok Bank has a NY office, not SCB

To the OP, although you say you are not going to use the account much I would urge you to get an account at a shopping mall branch of one of the major banks, since that will become your home branch and you sure want it open when you do need access

You are ABOSOLUTELY INCORRECT!!! SCB does have a branch in New York.

If you are referring to Standard Chartered Bank then yes they do have a New York branch, but 99% of the time here in Thailand, SCB stands for Siam Commercial Bank and rarely are the initials SCB used for Standard Charter

Edited April 22, 2013 by Langsuan Man