Opening Joint Account in Thailand for UK Use

[agrg]

So I'm looking to open a bank ac for me and my (Thai) partner in order to help with her visa application down the line.

I am looking for a bank that I can manage my account from the UK as well as Thailand. At least on line and preferably with actual branches in the UK.

Some relevant points;

I am currently working in Thailand and have a work permit.

We are looking to go to the UK for 6 months, I'll be working, she'll be deciding if she can stand the UK weather long term.

We need to set up a standing order to send her folks a couple of thousand every month

At the moment we only have about 500 quid between us, so huge opening balance requirements are out.

Not bothered about crap interest rates as the account won't have large sums in it.

Ideally no fee for transferring money in to Thailand

We have been managing our finances as a couple for several years now, just not from a joint account.

I'm sure there will be those who insist this is some ploy to steal all my money etc etc. For the record we earn about the same amount and this account will only be for a few hundred quid just to show that we are managing our finances as a couple.

I looked at HSBC which seems to only have one branch and no online managing and also Citibank but they need opening balance of 100000 baht.

Are there any other banks that are in both Thailand and UK?

If not can anyone recommend a bank that provides a hassle free online service and doesn't require going into the branch after opening and/or a UK bank that has no fee for international payments (and doesn't screw you on the exchange either). I know Halifax online is a fiver a pop regardless of amount.

Cheers

[AnotherOneAmerican]

Most countries don't see joint accounts as an asset in the VISA application process.

They like people to have their own accounts and earn their own money.

[agrg]

Hi, AnotherOneAmerican

That may well be the case for most contries but we are looking to go to the UK which advises the following;

From http://www.ukba.homeoffice.gov.uk/visas-immigration/partners-families/citizens-settled/spouse-cp/can-you-apply/genuine/

"If your relationship is genuine and subsisting we would expect you to be able to show evidence that you:

• are in a current, long-term relationship;
• are living together with your partner;
• share responsibility with your partner for any children;
• share financial responsibilities with your partner, such as a joint mortgage or tenancy agreement, a joint bank account or joint savings, and utility bills in both your names;
• and your partner have visited one another's home country and family; and
• you have made plans about living together in the UK with your partner."

[agrg]

Edit; for the record as I mentioned we earn about the same and share our expenses, the reason my partner won't be working for a while is, as the requirements specify, we must visit each others country before applying for a long term visa, during which time employment is not permitted.

[SamuiRes]

Check that whichever bank you choose allows internet banking on a joint private account. Strangely enough the Bangkok Bank and Siam Commercial Bank here in Samui will not do that. Do not know about other banks but you should check.

[personchester]

Bangkok Bank has a branch in London.

[agrg]

Cheers personchester. I'm actually the other end of the country but can obviously make the trip if I have to and they offer online services as well.

I'll go in for a chat and report back in case anyone else is interested.

Any one used their online service? their website doesn't look as nice as some of the other big banks but as long as the functionality and security is there.

[agrg]

SumuiRes, thanks for the heads up I will make sure to check that online services are offered on joint accounts.

[SamuiRes]

SumuiRes, thanks for the heads up I will make sure to check that online services are offered on joint accounts.

It really is nonsense. I have two clients who tried to do this and were refused internet banking by both Bangkok Bank and Siam Commercial Bank yet both would issue ATM cards to both people. In their case they just opened a single account with internet banking but both had the access codes!

For useability Bangkok Bank far outshines SCB. I use them for both Business Banking and Private Banking and the internet banking is first class for both. SCB was a nightmare which is why I closed all my accounts there.

[agrg]

Great, I was considering SCB but I can cross it off the list of places to inquire.

Certainly a crazy policy as you mentioned it is very easy for two or more people to use internet banking even if the account is in an individuals name anyway!

Unfortunately we really need the account in both our names for the application, If it only has one name on it I would be as well sending the money straight from my UK bank to mum.

Ill see what Krungsri say as they are my closest branch.

[yoshiwara]

You cannot go down the HSBC route as retail operations in Thailand have ceased. Standard Chartered exists in both Thailand and the UK, but no retail facility in the UK.

Edited July 28, 2013 by yoshiwara

[IMA_FARANG]

I'm an American so I don't know about the U.K. banks.

I had a joint bank account in Bangkok Bank for almost 30 years while I worked outside of Thailand. I opened it with my Thai girlfriend about 1981 or so.

Never had a problem. Opened it here in Thailand with my Thai GF while here on a tourist visa....doubt that's possible now.

While I was working my company did a direct deposit of my salary bi-weekly to my U.S. bank.

I set up a monthly transfer agreement with that U.S. bank (had to sign some paperwork, but did it by fax so no need to actually physically visit my U.S. bank to start it.).

Once it was established on both ends transfer of funds was actually made through Bangkok Bank in New York monthly by ACH transfer from my U.S. bank to Bangkok Bank U.S. who handled the funds transfer to my Bangkok Bank account.

Fees ... of course there are service fees, but I found that an ACH transfer through Bangkok Bank in the U.S. was the best way to go in my case.

I believe (may be wrong) there is a Bangkok Bank branch in London. I don't know if it is possible to set up such a transfer there or not. Bangkok Bank will need to know your Thai Bangkok Bank, branch, account number, and location for transfers.

I recommend you talk to them first however. You will certainly have to sign some forms and also probably with whatever U.K. bank you chose.

I can't say anything about what fees the banks will charge as that depends so much on the particular bank you choose.

But one pint of advice .... do NOT do the pound/baht conversion before funds are transferred. Do that in Thailand as you will get a better exchange rate in Thailand (Bangkok Bank converts on the day funds are actually received/credited at the daily TT fund exchange in Thailand0.

Hope that gives you some useful info anyhow.

[breadbin]

Most countries don't see joint accounts as an asset in the VISA application process.

They like people to have their own accounts and earn their own money.

100% correct.

Further, all it will look like to the visa dept is that your partner is cash hungry and that's a bad start.

If you're partner gas no job/cash now is the time to get a job and deposit the cash in the bank. Looks much better.

Forget a joint account. The visa app is about the partner and not you.

[agrg]

Opening post

"For the record we earn about the same amount and this account will only be for a few hundred quid just to show that we are managing our finances as a couple."

For the "unmarried partner of a British citizen" visa. A big part of the application is very much about us as a couple.

Hi, AnotherOneAmerican

That may well be the case for most contries but we are looking to go to the UK which advises the following;

From http://www.ukba.homeoffice.gov.uk/visas-immigration/partners-families/citizens-settled/spouse-cp/can-you-apply/genuine/

"If your relationship is genuine and subsisting we would expect you to be able to show evidence that you:

• are in a current, long-term relationship;
• are living together with your partner;
• share responsibility with your partner for any children;
• share financial responsibilities with your partner, such as a joint mortgage or tenancy agreement, a joint bank account or joint savings, and utility bills in both your names;
• and your partner have visited one another's home country and family; and
• you have made plans about living together in the UK with your partner."

Back to the point, from what I've heard, nowadays is basically a lucky dip as to whether or not the bank will let a tourist open an account. However I have a work permit so I doubt there will be any issues. Bangkok bank does sound promising, probably heading in today. Cheers for the advice I will see how it goes and report back.

[agrg]

So after several failed attempts we finally made it to a shopping centre with a Bangkok Bank in time to open an account along with work permit and passport. It was an extremely slow process (I think 1.5-2 hours in total) which was pretty poor considering that Krungsri took about 15 minutes to open my account last year. The woman who did our application tried to activate online services through the ATM outside the bank but It wasn't happening because we had a joint account, but she was able to do it manually in branch. Also the card that they gave us is called be1st which you can apparently use to send money and what not using any ATM in the world with a Visa logo. I'll try it out next month. I do have my doubts as I have had several replacement cards for my other account and even though It was only a basic ATM card they would use whatever card was closest to hand and activate it as a ATM card.

Big downside I can't get onto their website just now, not what you want in an online banking service!

[Pib]

1.5 to 2 hours!!??...you must have completed the "slow-motion" paperwork.

Assuming where you say the "woman who did our paperwork" was the Bangkok Bank representative she should have known you can't activate online banking for a "joint account" using an ATM...only for a single person account....unless something has changed recently. Maybe she was checking something else?

Where you say "...send money and what not in the world...", you can use the card to do "in-Thailand" transfers I guess but not for sending money out of Thailand to the best of my knowledge. Maybe you meant "get money and what not in the world" which is true.

Also, since you have a work permit you should be able to setup repatriation of your salary to the UK using Bangkok Bank "ibanking"...see this Link.

Additionally, with a Bangkok Bank account you will be able to transfer money from the UK to Thailand in cheaper/easier as described at this Bangkok Bank link.

[agrg]

By send "money and what not" I mean inter/intra (Thai) bank transfers and bill payments etc.

Their website is still extremely slow so I can't check the links, but cheers for the info.