cancan70 Posted January 29, 2015 Share Posted January 29, 2015 I would like to know if anyone has been able to find a bank in Thailand that offers safety deposit boxes that can be rented without having to sign up for their life insurance policy. The reason I ask is that I have just had a frustrating experience going from bank to bank and finding that very few have safety deposit boxes on offer, and the ones that do require you to take out a life insurance policy with them. It is such an easy process getting a safety deposit box at a bank in North America, why is it such an ordeal over here in Thailand? Link to comment Share on other sites More sharing options...
Torrens54 Posted January 29, 2015 Share Posted January 29, 2015 Perhaps because this isn't North America? Link to comment Share on other sites More sharing options...
rabid old goat Posted January 29, 2015 Share Posted January 29, 2015 (edited) you dont possess enough face here. i have been considering one of these to store my snacks in, so the hotel staff cant sneak into my room and tax them Edited January 29, 2015 by rabid old goat Link to comment Share on other sites More sharing options...
NCC1701A Posted January 29, 2015 Share Posted January 29, 2015 this is just the tip of the ice berg of things that will drive you crazy here. i think one reason is banks are not secure here. i am not sure what they do with the money at night. i had to buy a big heavy safe and hide it in my house. the concept of a bank being able to hold your belongings in a safe without them being stolen is totally alien here. please let us know if you find a bank with safe deposit boxes. Link to comment Share on other sites More sharing options...
Xircal Posted January 29, 2015 Share Posted January 29, 2015 Try Standard Chartered: https://www.sc.com/th/en/ways-to-bank/inperson-safe-deposit.html Link to comment Share on other sites More sharing options...
rabid old goat Posted January 29, 2015 Share Posted January 29, 2015 (edited) this is just the tip of the ice berg of things that will drive you crazy here. i think one reason is banks are not secure here. i am not sure what they do with the money at night. i had to buy a big heavy safe and hide it in my house. the concept of a bank being able to hold your belongings in a safe without them being stolen is totally alien here. please let us know if you find a bank with safe deposit boxes. you saying the bank staff are going to tax my snacks too. well of course TiT. OK THATS IT ALL SNACKs ARE GOING INTO DAY BACKPACK. Edited January 29, 2015 by rabid old goat Link to comment Share on other sites More sharing options...
Ludacris Posted January 30, 2015 Share Posted January 30, 2015 (edited) As you've seen it's difficult to find a bank here that will rent out safe boxes without any added incentive. The bank I have mine with usually offers them as a perk for customers of their wealth banking department. There are private safe-box companies in Bangkok and Pattaya you could look into though. Edited January 30, 2015 by Ludacris Link to comment Share on other sites More sharing options...
JMWPACIFIC Posted January 30, 2015 Share Posted January 30, 2015 As you've seen it's difficult to find a bank here that will rent out safe boxes without any added incentive. The bank I have mine with usually offers them as a perk for customers of their wealth banking department. There are private safe-box companies in Bangkok and Pattaya you could look into though. I have mine with Citibank which has a large secure vault. Link to comment Share on other sites More sharing options...
LivinLOS Posted January 30, 2015 Share Posted January 30, 2015 I got one.. My buddy has one.. etc etc.. Helps to have an account with a few 0s on perhaps.. My branch told me they dont have boxes, I aid fine, I will take my money out for a bank that does.. She got on the phone and suddnly there was one in the main brach across town for me. Handy to keep land papers, wills and the like for me.. Link to comment Share on other sites More sharing options...
SheungWan Posted February 1, 2015 Share Posted February 1, 2015 In Pattaya the main TT Exchange branch on Second Road has a safety deposit vault so you might check them out there or elsewhere. Link to comment Share on other sites More sharing options...
papersource Posted July 27, 2015 Share Posted July 27, 2015 (edited) Ok, so I need a bank safe deposit box and want to store a lot of gold in it. But I want it to be safe and professional. Called all the major Thai banks several of which I already have deposits in. They mostly want to play this insurance shell game where I pay them 89,000 per year for 4 years for some BS life insurance policy. The money can't be taken out except for huge loss until 5 years. I hate life insurance (know its a scam and have no kids) and do not need or want it but finally agreed to give them (SCB) 350,000 baht for the privledge of renting one of their tiny safe deposit boxes. So I asked the girl and was assured (several times!) that I would get a key in a Chubb envelope that was SEALED and that the seal was NOT broken. So, she brings me the little Chubb envelope and had the CHUBB safety seal which says "DO NOT ACCEPT IF THIS SEAL HAS BEEN BROKEN" so I trust Chubb Insurance Co. and will sleep soundly knowing that I have a key that no one has touched or could copy. But The seal had been broken!! and taped over with stupid scotch tape!!! So she tells me mai pen rai the head office just opened it to get the code ( SO THEY COULD OR DID COPY IT!!!!- RIGHT?? HUH?) and of course she goes on to say plood pai (safe) over and over gain as if that is going to work for me because she was repeating it. This is the second time this has happened to me. At another bank they wanted to hand me this used dirty key (wasn't even a sfe deposit type key!) that the old owner (OR THE BANK MANAGER) may have copied. Thais have no history in their culture of how safe deposit boxes work so banks here get away with this CRAP because Thais do not know any better and it is very profitable for the banks to not change the key for a new owner. (cost at least 3000 baht through Chubb for each new key) (as an aside if you want to rip someone off here just open two safe deposit boxes side by side and then give up one box by handing back the key to the bank. Then wait for the old box to be rented and go into the babk to pretend to open your other box but actually open the box which you have given up (but have copied the key and clean the box out out) No worries! TIT TOTALLY THIRD WORLD AND UNPROFESSIONAL!!! so why should I be surprised?? Except that i was willing to pay 360,000 baht to them to rent this box ( that I may never see the money again as it is unsecured and not a government guaranteed deposit) and assumed that they were not lying to me when they said that the Chubb seal had not been broken. Mai pen rai this is thailand where baan))ks can be screwed over and cheated and ripped off because they are trusting of authority and afaraid to lose face if they question.. well not me. I will try citi and hsbc and report the results here and if not I will open a safe deposit box in Singapore. If anyone has a suggestion it would be most appreciated at this point as I am obviously POed at the audacity of them trying to fob off third world standards to me at outrageous pricing and feel sorry for Thais that do not know any better and are fearful of questioning authority due to the losing of face crap to which I am immune Edited July 27, 2015 by papersource Link to comment Share on other sites More sharing options...
KittenKong Posted July 27, 2015 Share Posted July 27, 2015 (edited) .... I want it to be safe and professional. Two words not often used here in a business context. You want a safe gold investment? Buy gold ETFs or funds in a Western country. Even then being gold there is no guarantee that it wont fluctuate in value hugely and for no obvious reason. Rather you than me. Edited July 27, 2015 by KittenKong Link to comment Share on other sites More sharing options...
papersource Posted July 27, 2015 Share Posted July 27, 2015 (edited) ""Buy gold ETFs or funds in a Western country"" yes, I hear you and own some CEF in Canada. But when a financial crisis hits there is no way to predict how far governments will go in confiscating assets to pay for bread and circuses for the voters especially as a USA citizen whos country has an ugly history of confiscating gold when it is most needed. And confiscation is easier than before if it is held electronically. So i want to diversify and hold a few % in CEF and some physical that i can touch or my wife can get if I croak early Edited July 27, 2015 by papersource Link to comment Share on other sites More sharing options...
Stocky Posted July 27, 2015 Share Posted July 27, 2015 I have a box with Krungsri (Bank of Ayudhya) in Bangkok, they charge me Bht850 per annum, I didn't need to sign up for a life insurance policy. Link to comment Share on other sites More sharing options...
papersource Posted July 27, 2015 Share Posted July 27, 2015 Thanks Stocky, Can you tell me how you received the key to your safe depost box? was it in an envelope with a safety seal by Chubb or some other insurance company to guarantee that no one had copied or touched the key previously? Tks Link to comment Share on other sites More sharing options...
Stocky Posted July 27, 2015 Share Posted July 27, 2015 (edited) No I was just given a pair of keys, we are talking about a bank in Thailand not the United States. I'm not storing gold in my box, just documents. . Edited July 27, 2015 by Stocky Link to comment Share on other sites More sharing options...
blackcab Posted July 27, 2015 Share Posted July 27, 2015 If the keys did come in a secure envelope, how would you know if the envelope was genuine? Link to comment Share on other sites More sharing options...
Chivas Posted July 28, 2015 Share Posted July 28, 2015 Theres a Private service that I have spoken to via Email in Pattaya called Siam Secure. I've seen their advert on Thaivisa as well in Finance sub sections Email was professional and Farang managed and run. Told me of their security arrangements which were excellent (if true obviously) Was around 5000 Baht for 1 Year Link to comment Share on other sites More sharing options...
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