Its Happening - Law to Tax Overseas Income Now in Progress

[prepress]

Today I went to Kiatnakin Bank at Siam Paragon to open an account.

But the lady refused my retirement visa. Her manager need work permit. I told them I have an account at Bkk Bank and no problems to open at other banks.

I show my thai driver license and retirement visa stamps in my passport.

Now she want a statement/letter from immigration about my retirement visa.

What would you suggest: Give up or go to another Kiatnakin branch?

[mogandave]

You had to have a letter to get the visa, yes? Why not show it to them.

[Pib]

Maybe what the bank is really asking for is a Certificate of Residence from immigration.

[Langsuan Man]

Why bother ?

It's not like this is the only bank in Bangkok. It is time that we just boycott these out of date bank chains that don't understand the rules set up by the government. Unless they are giving you free money, move on

[prepress]

You had to have a letter to get the visa, yes? Why not show it to them.

No letter for retirement visa. Only Passport, Photo, Thai address and proof of 8k in Thai bank.

[pdwarf1]

You must be joking. I have been here for a very long time. If you have account in BBL, why do you need one in this obscure bank?????

With retirement extension of stay, not visa, you can gst accoungt at any bank. I recommend TMB. Best bank in Thailand.

[CWMcMurray]

Why bother ?

It's not like this is the only bank in Bangkok. It is time that we just boycott these out of date bank chains that don't understand the rules set up by the government. Unless they are giving you free money, move on

Not the only bank, but is the bank with the best interest rates... Their rates always send to be a bit higher than the rest

Sent from my iPhone using ThaiVisa app

[Arkady]

UOB gave me a big spiel about needing WP and when I showed them my PR documents and blue tabien baan they thumbed through them looking confused, obviously having never seen the likes before, then thought for a moment and said, "Need work permit". Eventuallly got the account open but was like pulling teeth. Bkk Bank went one further and tried to close my account of 10 years standing once because I couldn't produce a WP when I requested a new pass book. Told the women to call HQ to ask if a WP was really necessary and she did and found out that it wasn't. There is definitely no Bank of Thailand reg on this, just that adequate ID checks must be make.

[IMA_FARANG]

Go to another branch.

This happens all the time.

What they really mean is "We don't really know how to do a bank account for a farang with a retirement visa/extension .... but we would lose face if we said that to you directly. So we tell you that a Work Permit or an embassy letter is needed to open an account, and hope you will go away".

This is still Thailand.

If you're married it may work to have your wife ask them while you sit and look stupid. Just sign the papers they give you to sign. And have your wife ask them for a Be1st ATM/debit card in Thai. The Be1st ATM/debit card works in Malaysia and Vietnam as well as Thailand, some of the other bank cards are limited to Thailand only.

But actually, I have my account in Bangkok Bank on Sukhumvit Soi 43. That branch has been more friendly to farangs and seems to be more efficient and "farang friendly" than some others.

I had an account there where I sent money monthly for my wife's expenses. Another Bangkok Bank near our house gave me the same type of story and didn't want to open my account.

Then I went to Bangkok Bank on Sukhumvit Soi 43 and it was like a different world .... especially once they saw that my Thai wife already had her account there.

Edited September 17, 2013 by IMA_FARANG

[cassde]

I have accounts at Bangkok Bank in Phra Khanong and opened them with no problem on a Retirement visa. They have Fixed Deposit accounts which are competitive and I currently hold 4 month and 10 month accounts.

If I was given hastle by a branch, I would certainly not hang around but find another more suited to dealing with farangs.

[VBF]

Why bother ?

It's not like this is the only bank in Bangkok. It is time that we just boycott these out of date bank chains that don't understand the rules set up by the government. Unless they are giving you free money, move on

Not the only bank, but is the bank with the best interest rates... Their rates always send to be a bit higher than the rest

Sent from my iPhone using ThaiVisa app

With respect - WHY do they have the highest interest rates? That in itself may well be a warning sign - remember BCCI, Kaupthing and many others who offered high rates and then went bust. I would personally prefer to go with a bank whose provenance, investment strategy, backing etc are better known. Especially as in Thailand you have little or no protection.

Just a thought from a cautious investor

Edited September 18, 2013 by VBF

[prepress]

Update:

Today, I went to the Kiatnakin Bank head office at Amarin. No problem to open an account. Very friendly and very knowledgable. Excellent information in perfect English.

Thanks for the tips in this forum.

Go to another branch.

This happens all the time.

What they really mean is "We don't really know how to do a bank account for a farang with a retirement visa/extension .... but we would lose face if we said that to you directly. So we tell you that a Work Permit or an embassy letter is needed to open an account, and hope you will go away".

This is still Thailand.

Edited September 18, 2013 by prepress

[prepress]

VBF,

I am careful and will not transfer all.

Please check my old thread post #2 and post #4. There are good infos about the bank from forum members.

http://www.thaivisa.com/forum/topic/667601-kiatnakin-bank-infos-needed/

Bangkok Bank is the largest Bank in Thailand. So they can afford to give the lowest rates.

With respect - WHY do they have the highest interest rates? That in itself may well be a warning sign - remember BCCI, Kaupthing and many others who offered high rates and then went bust. I would personally prefer to go with a bank whose provenance, investment strategy, backing etc are better known. Especially as in Thailand you have little or no protection.

Just a thought from a cautious investor

[YeaBiGgiEs]

Seriously, I wouldn't even bother. As a previous poster said these banks are out-of-date with their policies and procedures and have machines incapable of logical thinking working in these banks.

I mean asking for a work permit when you show them a retirement visa? Duh! This whole work permit think for everything is ridiculous in of itself. What if someone is young, well off, no intention of marrying, going to school or investing and just wants to be on an indefinite holiday OR just being young and well off without any other visa options available, then what?

I suggest you go bank shopping. Pick the one that gives you least resistance and grief. If they want you to jump through all these hoops then apparently thats a sign of things to come and your money is just not that important to them. I am sure since you are retired you aren't going to maintain a low balance. Their loss...

[JSixpack]

Why bother ?

It's not like this is the only bank in Bangkok. It is time that we just boycott these out of date bank chains that don't understand the rules set up by the government. Unless they are giving you free money, move on

Not the only bank, but is the bank with the best interest rates... Their rates always send to be a bit higher than the rest

Sent from my iPhone using ThaiVisa app

With respect - WHY do they have the highest interest rates? That in itself may well be a warning sign - remember BCCI, Kaupthing and many others who offered high rates and then went bust. I would personally prefer to go with a bank whose provenance, investment strategy, backing etc are better known. Especially as in Thailand you have little or no protection.

Just a thought from a cautious investor

Nonsense, pure and simple. Please do some homework before posting and know something about what you're talking about.