Standard Chartered Bank to close branch here

[jko]

The bank's 'Here for Good' slogan will apparently not apply in Chiang Mai.

I was shocked to hear that they will close their branch here permanently in a few month's time.

I always wondered why during their long tenure I never saw any English language advertising from them, and they seemed to be content to sit back and let other local banks promote their services to the growing international community.

Although this is obviously part of their current global downsizing and not about market share, it hardly makes sense for the only international bank in our city to close shutters at a time when many businesses, retirees, etc. are relocating here, and will clearly continue to do so.

Increasing international airline routings, high speed rail connections, and the stimulus of the AEC are likely to turn Chiang Mai into a major hub for tourism and business, meetings & exhibitions in a few years - potential rich pickings for an long-established international bank.

They may therefore come to regret this short-sighted decision, which no doubt will be warmly welcomed by all their competitors.

And the closure will not enhance their standing or reputation.

A great pity.

[Dante99]

You really ought to go tell them all that.

[Chicog]

Shouldn't have gambled all that money on Stevie G not slipping over.

[Mickeem]

Does the branch have an ATM

If so is it possible to make Visa cash withdrawals with a foreign credit/debit card without the Thai bank cartel 'falang' tax of 180B ?

If yes where is the branch?

[bluweyze]

Standard Chartered are closing every branch outside of Bangkok. The branch is is Chang Puek near the university and has parking outside. The staff mostly have poor English but they are fantastically helpful. SC's interest rates on deposit accounts are some of the best so I am genuinely sad that they will close their doors in March.I hope the staff find new jobs because most do not want to transfer to Bangkok.

[chiang mai]

A great bank in Asia, aka Hong Kong, not bad in Bangkok but probably the worst bank of any in the universe is the branch in Chiang Mai, in terms of product knowledge/service/abilities, you will not be missed.

[bangmai]

so what rate are you earning?

[rabid old goat]

there was one in hat yai too. it closed also a while back. not surprising really, in the fierce competition banks have these days to see who can NOT open the most accounts, standard chartered is one of clear leaders. hsbc bkk too. but the thai banks are also getting their act together in this race too. see http://www.thaivisa.com/forum/topic/793630-is-it-possible-to-open-a-foreign-currency-bank-account-in-thailand/page-2#entry8996328

deuche bank had a branch in bkk too. long gone now. it was supremely successful in the above mentioned race

ditto abn-amro

rbs dont even bother going through the door

try penang? ha ha ha

singapore? ditto

[northernjohn]

Some how I don't think having only one branch in all of Chiang Mai is going to bother the immigrants coming to Chiang Mai.

Can you expand on

high speed rail connections,

coming to Chiang Mai. Haven't heard any thing about that since the Shinawatra's fell out of power.