Kasikorn Bank vs Siam Commercial Bank for USD account

[Calgary2014]

For USD account and monthly money transfers to and from Canada in USD which bank is better: Kasikorn or Siam Commercial Bank

Thai folks highly recommend Siam Bank as systems and processes are more modern. They say that Kasikorn Bank for USD is pain in the neck. Expats suggest Kasikorn Bank as a “Foreigner friendly" bank and better customer service.

Could you please share you experience in dealing with these banks?

Tom

[CharlieH]

Try banking forum

[Calgary2014]

I will try. Thanks Charlie

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[wym]

Yes to both statements, SCB higher-end processes, best for the USD accounts, more business-oriented but Kasikorn more consumer-oriented, friendly service.

Both good banks IMO.

[Calgary2014]

That is exactly what I was looking for. Thank you for confirming the feedback I have got on these Banks. I will probably go with SCB.

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[metisdead]

Moved to the business/banking forum.

[MidoriApple]

Why only SCB or Kbank? Why not BBL?

BBL is the leading bank in Thailand, definitely their systems are the most up-to-date, especially widely global banking transactions.

I mean BBL may have the most link/ line... such as direct swift code to many banks around the world.

Confuse? My English is not fluent. Sorry.

For instance, I have duty to transfer monthly family's money to a bank in a very small town in Germany,

and I made international money-transferred via my internet-banking every months.

I set it to automatically done, same date in each month, with the transferring fee for only B.300 and EU12 from German bank.

I quite surprised that the bank in Germany is just only small branch, but BBL has the direct line with.

Very convenience.

For me, Kbank is also convenience, quite similar to BBL, and I feel it is better than SCB in this case.

Especially when you will make business transaction internationally... like open the L/C (Letter of credit)... BBL and Kbank are better than SCB.

I prefer BBL to Kbank, because of the exchange rate, usually BBL gives better rate than Kbank. (in comparison)
But this is only my experience between Thailand and EU continental. Never to Canada.

IMO, best is you go to both Banks and ask for the Bank swift code and the IBAN from your bank in Canada
and compare which is more convenient... for one which has direct line together, then this should be the most cheapest and also most convenience.

Confused? Don't know how to explain more!

If I were you, I would consider

at first from the direct transaction between Thai bank (the branch you can be convenience to go) and IBAN number from bank in Canada

later, considered from the internet transaction I can make via.

Then, planned for the future, if for making also the business which has to transfer or interact more than just the money, which bank is more prompt.

and last, I would consider from the exchange rate.

My two cents

[Calgary2014]

Thank you MidoriApple for the advice on BBL. I will look into this too.

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[Scottythai]

Coming from Canada as well and using a Canadian bank card in Thailand I try to avoid these 2 banks as much as possible. I have issues with K Bank and it randomly not accepting Canadian bank cards. I use both RBC and CIBC and they can get rejected at anytime. If I was you I would check out Bangkok Bank or TMB. Best from my findings.

[chiang mai]

Why not Bank of Ayudhya (BAY) they bought HSBC Thailand last year and this year they were bought in turn by Bank of Tokyo/Mitsubishi which has assets of USD 2.5 trillion!

Or UOB, a Singaporean bank with a solid presence in Thailand, consistently ranked in the top fifteen safest banks in the world.

[Spoonman]

Kasikorn do not allow internet banking on their USD accounts if that has any bearing on your decision.

[Calgary2014]

If that's the case then KBank off my list for sure. Thank you for the insight.

I was also thinking about UOB or DBS. Although, I am not so sure about DBS presence in Thailand

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[chiang mai]

DBS only has a single office in Thailand and does not have a retail banking license.

[dinger]

I have been using SCB Bank for several years. I get a monthly pension deposited into my bank in the U S each month then transfer to my SCB account here. The transfer comes in as Bhat and not Dollars. Have never had a problem as they know me at my local bank. But have had dealings at many other offices and no problem. I even used the office in Vientiane and they were very helpful even though they technically aren't the same bank. I also have online banking

[Spoonman]

I have been using SCB Bank for several years. I get a monthly pension deposited into my bank in the U S each month then transfer to my SCB account here. The transfer comes in as Bhat and not Dollars. Have never had a problem as they know me at my local bank. But have had dealings at many other offices and no problem. I even used the office in Vientiane and they were very helpful even though they technically aren't the same bank. I also have online banking

Well thats not a USD account now is it. If we want to talk about every day Baht account's Kasikorn is brilliant both here in Thailand and have never had an issue abroad using my atm cards. internet banking is on par with any western bank I have used in the past as well.

[Calgary2014]

I am looking for both USD and Baht accounts. Automatic conversion of USD into Baht isn't the best option. I would like to have a choice when to convert.

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[Spoonman]

I am looking for both USD and Baht accounts. Automatic conversion of USD into Baht isn't the best option. I would like to have a choice when to convert.

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Kasikorn you have to go into the branch you opened the account at to withdraw or convert. If you want to move money from your K-Bank USD account to your K-Bank BAHT account it has to be done manually.

[dinger]

I have been using SCB Bank for several years. I get a monthly pension deposited into my bank in the U S each month then transfer to my SCB account here. The transfer comes in as Bhat and not Dollars. Have never had a problem as they know me at my local bank. But have had dealings at many other offices and no problem. I even used the office in Vientiane and they were very helpful even though they technically aren't the same bank. I also have online banking

Well thats not a USD account now is it. If we want to talk about every day Baht account's Kasikorn is brilliant both here in Thailand and have never had an issue abroad using my atm cards. internet banking is on par with any western bank I have used in the past as well.

Yes you are correct that is not a U S Dollar account. I don't find much need to transfer dollars here, pay the transfer fee then change them into what ever currency is needed for the transaction. Then try to get the dollars back out of the country if needed

[Calgary2014]

KBank won't work for me for sure

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[chiang mai]

I can't see the benefit of having a USD account in Thailand, it's expensive to maintain and it earns no interest. Far better to keep USD in the US and transfer inexpensively via Bangkok Bank and ACH from time to time, converting into THB when the rate seems right.