How Is Bangkok Bank?

[EmptyHead]

Hello fellow bankers,

My boss has said i must get a Bangkok Bank account to have my salary paid in. No other bank will do.

So, how is Bangkok Bank?

Customer service?

Charges and fees?

Online option?

Exchange rates?

Most importantly: interest rates!

Do they have any accounts available with decent interest?

Cheers guys

[meatboy]

i have had an acc.with them for yrs,yrs,and yrs.always crowded,as for interest rates i havnt had a fixed term deposit with them for yrs.and between me and mrs meat, we at the moment have about 10 live ones.

but for the best rates follow the BANK INTEREST FORUM we try and up date most banks.

some of the banks promote good rates for a period but you have to be in the bank when they do.

[Pib]

They are good...the wife and I have been with them for many years with multiple accounts. There website is by far the best Thai bank website in terms of information and detail in both Thai and English---they don't even have another bank as a close 2nd when it comes to their website. Their Ibanking is fine...their interest and exchange rates are plus or minus a hair of other Thai banks. If you are American they are the only bank which has U.S. ACH receiving capability which means you can do funds transfers from your U.S. bank(s) to your in-Thailand Bangkok Bank branch just like a domestic transfer and at a low cost. Overall they probably have the best English capability of Thai banks although you can still walk into some branches and find very little English capability...but their call center and email English capability is fine.

[lopburi3]

They are likely the best run bank in Thailand and able to compete on all counts. Check there website.

As for interest that requires fixed account (for cash) and you could set that up in any bank - all deposit passbook accounts will have the same low interest.

[Langsuan Man]

Like most things in Thailand it depends upon you home branch. Some branches are farang friendly and can handle most of your requests. But occasionally you will find a branch that does not have an English speaking employee and that can make things difficult

It has been my experience that if the branch is willing to call Bangkok for instructions then you will not have a problem

If possible, recommend that you pick a branch in a shopping mall that will be open on nights and weekends so that you don't have to take time off from work for banking

[pomchop]

I just moved money from kasikorn to bkk bank as bkk bank offers 2.8% on an 11 month CD and kasikorn was way less....no problems at all opening account with non imm b visa and the people I dealt with here in Chiang Rai were very nice though English was lacking but it wasn't a major problem.

[Isan Farang]

I just moved money from kasikorn to bkk bank as bkk bank offers 2.8% on an 11 month CD and kasikorn was way less....no problems at all opening account with non imm b visa and the people I dealt with here in Chiang Rai were very nice though English was lacking but it wasn't a major problem.

Please can you give a link to the 2.8% on an 11 month CD

[Pib]

I just moved money from kasikorn to bkk bank as bkk bank offers 2.8% on an 11 month CD and kasikorn was way less....no problems at all opening account with non imm b visa and the people I dealt with here in Chiang Rai were very nice though English was lacking but it wasn't a major problem.

Please can you give a link to the 2.8% on an 11 month CD

It was a promotional rate only open X-months like all promotional rates...a person needed to open the account during that window...it appears to have went away on 19 Jan 15 from looking at the Bangkok Bank interest rate docs and since I can't find it listed as a promotion anymore on their website...and further looking at the interest rate docs it first became available/went on promotion 25 Jun 14. So, it appears to have been available 25 Jun 14-18 Jan 15. I too took advantage of this promotion in Dec 14 because I rolled over my matured 15 month, 3.25% fixed account into the 2.8%, 11 month fixed account since it was the best deal at the time.

So, I expect it went away o/a 18 Jan unless pomchop can confirm where he said "he just moved money into the 2.8%, 11 month account" as being after 18 Jan...then maybe it's still available just not being promoted/listed on the Bangkok Bank website and in their interest rate docs.

Now, Bangkok Bank has a promotion on their 4 month and 7 month fixed accounts which will be open for X-months (how many months is up to the bank but I expect they secretly already have a date to end the promotion).

Edited February 7, 2015 by Pib

[dddave]

I've been with Bangkok Bank 10+ years and never a problem. The only issue that occurs down the road is when you replace a passport. If they are still using your old passport number it can cause all sorts of problems. When passport renewal time comes along, make sure to update it at the bank ASAP.

Langsuan Man's suggestion to open your account at a shopping mall branch is a good one; much wider range of operating hours.

[zlodnick]

I bank with Bangkok Bank and when I need money, I just go inside the bank, give them my debit card, and withdraw whatever i need.

There is never a charge by the bank. My US bank used to charge $1.50 for each transaction. That was great, but then they started charging a 1% foreign exchange rate. Then it increased to 2% . Now its at 3%!

I dont know what an ACH transfer is. Is that something I would benifit from?

[Pib]

I bank with Bangkok Bank and when I need money, I just go inside the bank, give them my debit card, and withdraw whatever i need.

There is never a charge by the bank. My US bank used to charge $1.50 for each transaction. That was great, but then they started charging a 1% foreign exchange rate. Then it increased to 2% . Now its at 3%!

I dont know what an ACH transfer is. Is that something I would benifit from?

Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. When you do a transfer between your U.S. banks or say to some one else's U.S. bank it will most likely flow via the ACH system. Many U.S. banks do not charge any fee (or a low fee) for such transfers. You should be able to setup a funds transfer link between your U.S. bank and Bangkok Bank no problem by using the Bangkok Bank New York branch "routing number" and your in-Thailand Bangkok Bank branch "savings account number"...set it up just like it was a domestic/intra-US transfer and not a international transfer. Many, many U.S. citizens using this method to make funds transfers, receive their monthly govt pension, etc., to their Bangkok Bank accounts.

I use to use ACH transfers a lot also but since I now have multiple no foreign transaction fee U.S. cards which reimburse ATM fees I use them instead....but I have ACH transfer links still setup from several of my U.S. banks to my Bangkok Bank accounts so if I do need to do transfers again in the future they are still setup. When using ACH transfers the funds usually arrive in 1 to 4 business days with 2 to 3 days probably being the norm.

See this Bangkok Bank webpage for more info on how to use ACH transfers to your Bangkok Bank account: Link.

[ToddinChonburi]

BKK has a 2.5 rate for a 200000 baht CD for 7 month for Febuary.

[rabid old goat]

banks i have spoken to lately have a broken record it says work permit over and over again.

cant figure how retirees are going to get their 800000 into a thai bank theses days. because they cant open one.

kasikorn has gone from a pleasure to deal with to one i am rapidly reducing my balance at. bad news at all branches i have been too

its like malaysia, you cant open a bank account unless you can prove you have no money, to prove that you have no money, you need to show that you have/need a work permit

Edited February 7, 2015 by rabid old goat

[ttthailand]

Yes, I have recently opened two different Bangkok Bank accounts and the service is very good. Also has on line banking.

I am needing to send some cash out of country, does anyone know if I can do that on a retirement visa ?

[Langsuan Man]

banks i have spoken to lately have a broken record it says work permit over and over again.

cant figure how retirees are going to get their 800000 into a thai bank theses days. because they cant open one.

kasikorn has gone from a pleasure to deal with to one i am rapidly reducing my balance at. bad news at all branches i have been too

its like malaysia, you cant open a bank account unless you can prove you have no money, to prove that you have no money, you need to show that you have/need a work permit

This has been a problem with any bank that does not deal with a lot of foreigners. They don't realize that the work permit requirement was repealed several years ago. At least with Bangkok Bank telling them to call the headquarters in Bangkok will resolve this misinformation

[zlodnick]

Thanks Pib,

Just to give me some idea how much I will save, what would it cost to do a ACH transfer of say, Bt 100,000 (a little more than $3000)?

When I withdraw Bt 100,000 now, my bank charges about $100.

[Tywais]

They don't realize that the work permit requirement was repealed several years ago.

I don't remember there ever being a formal requirement to have a work permit to open a bank account unless by 'several years' you mean several decades. I opened my first Bangkok Bank account 30 years ago in Phuket on a Non-O.

But for the OP, I think it is a great full featured bank. I do everything through their i-banking and extremely rare I actually have to go to the bank for anything. I have a bank officer assigned to me so even rolling over a fixed account they notify me when it is nearly due and come to my office in person to do the paperwork.

[rabid old goat]

banks i have spoken to lately have a broken record it says work permit over and over again.

cant figure how retirees are going to get their 800000 into a thai bank theses days. because they cant open one.

kasikorn has gone from a pleasure to deal with to one i am rapidly reducing my balance at. bad news at all branches i have been too

its like malaysia, you cant open a bank account unless you can prove you have no money, to prove that you have no money, you need to show that you have/need a work permit

This has been a problem with any bank that does not deal with a lot of foreigners. They don't realize that the work permit requirement was repealed several years ago. At least with Bangkok Bank telling them to call the headquarters in Bangkok will resolve this misinformation

you havent been lately have you. tell me any bank/branch in bkk where i can walk in without a work permit and open a foreign currency deposit account on monday. only been trying for the past month at at least 5 different banks. no go now since 22.1.2015. yes silom bkk bank included

Edited February 7, 2015 by rabid old goat

[Langsuan Man]

banks i have spoken to lately have a broken record it says work permit over and over again.

cant figure how retirees are going to get their 800000 into a thai bank theses days. because they cant open one.

kasikorn has gone from a pleasure to deal with to one i am rapidly reducing my balance at. bad news at all branches i have been too

its like malaysia, you cant open a bank account unless you can prove you have no money, to prove that you have no money, you need to show that you have/need a work permit

This has been a problem with any bank that does not deal with a lot of foreigners. They don't realize that the work permit requirement was repealed several years ago. At least with Bangkok Bank telling them to call the headquarters in Bangkok will resolve this misinformation

you havent been lately have you. tell me any bank/branch in bkk where i can walk in without a work permit and open a foreign currency deposit account on monday. only been trying for the past month at at least 5 different banks. no go now since 22.1.2015. yes silom bkk bank included

You are correct. I have never tried to open a foreign currency deposit account at any bank in Thailand, my experience has been based upon opening a regular savings account. Maybe that is why you are having a problem since those type of accounts come with a lot of restrictions as reported by other members

[Pib]

Thanks Pib,

Just to give me some idea how much I will save, what would it cost to do a ACH transfer of say, Bt 100,000 (a little more than $3000)?

When I withdraw Bt 100,000 now, my bank charges about $100.

You would have up to three fees:

1. Any ACH domestic transfer fee your home country bank may charge...most banks don't charge anything and some charge a few dollars. Let's assume you are not with a fee-hungry bank and there is no Sending fee.

2. As the funds flow through Bangkok Bank New York branch they would slice off a $10 fee for $3000 (up to $2,000 it's generally $5)...$2,990 continues on to your in-Thailand Bangkok Bank branch.

3. At your in-Thailand Bangkok Bank branch they will charge 0.25% (Bt200 min, Bt500 max) which would work out to approx Bt243/approx $7.50 for the $2,990 arriving.

Sum total of fees: $0 + $10 + 7.50 = $17.50.

[MichaelJohn]

I guess if you have to have a BKK bank account it doesn't really matter about their service, charges and fees as you have to have one?

Like most banking matters I guess it depends on your personal experience?

[Isan Farang]

I just moved money from kasikorn to bkk bank as bkk bank offers 2.8% on an 11 month CD and kasikorn was way less....no problems at all opening account with non imm b visa and the people I dealt with here in Chiang Rai were very nice though English was lacking but it wasn't a major problem.

Please can you give a link to the 2.8% on an 11 month CD

It was a promotional rate only open X-months like all promotional rates...a person needed to open the account during that window...it appears to have went away on 19 Jan 15 from looking at the Bangkok Bank interest rate docs and since I can't find it listed as a promotion anymore on their website...and further looking at the interest rate docs it first became available/went on promotion 25 Jun 14. So, it appears to have been available 25 Jun 14-18 Jan 15. I too took advantage of this promotion in Dec 14 because I rolled over my matured 15 month, 3.25% fixed account into the 2.8%, 11 month fixed account since it was the best deal at the time.

So, I expect it went away o/a 18 Jan unless pomchop can confirm where he said "he just moved money into the 2.8%, 11 month account" as being after 18 Jan...then maybe it's still available just not being promoted/listed on the Bangkok Bank website and in their interest rate docs.

Now, Bangkok Bank has a promotion on their 4 month and 7 month fixed accounts which will be open for X-months (how many months is up to the bank but I expect they secretly already have a date to end the promotion).

Yes the 2.8% package is old news Pomchop stated he just moved money to obtain the 2.8% so this made me confused, I managed to get the last day of that offer on the 16 Jan 2015, and I done one also on the 17 Nov 2014.

There Is no package available for 2.8% I was at BB on Friday checking what was on offer.

[Pib]

The promotional term lengths and rates on many fixed deposits come and go pretty much without advance notice. Normally they have the open window for around 2 months to lock in the promotion, sometimes longer like maybe 2 to 6 months, and sometimes only 1 month. Once the promotion ends it's back to the normal interest rate for that term length if that term length is a term length they usually always have like say 3 months, 6 months, 12 months, 24 months, etc.. And in some cases like the 11 month term length, 2.8% interest that was promotional both in term length and interest and that term length is no longer available either, but probably will be in the future in a new promotion. When? Who knows. No one should assume that a promotional term and its rate will be hanging around for a long time, because its highly unlikely it will if it's being advertised as a promotion. So, if you want to snag a certain promotional term/rate, don't set on your butt too long thinking about it.

[JMWPACIFIC]

I deal with Citibank (poor interest rates and great online website) and Bangkok Bank (BBL). At least for the last 3 years, BBL has had the best or near best interest rates of all the banks at any given time. BBL's online banking is first rate and you can have maximum 5 savings and 5 Time deposits on it. English is always an issue at most banks (except Citibank where everyone speaks it) so find the branch dealing most with falangs---in Pattaya, it is the main branch on 2nd Road. With Citibank, Time Deposits can be booked online but not with BBL where you have to go to the branch with all the usual paperwork.

[pomchop]

My CD was opened on jan 13 and it is 11 months at 2.8%.....they deduct taxes at the end of the CD....I did not find it on the internet but just stopped at bkk bank and asked what the rates were...no idea how long rates/promotions last but the 2.8 sounded good so did it that day.

[xylophone]

Was with SCB but because of poor service and a confusing online system, moved to Bangkok Bank.

Great service and their online banking is excellent. Glad I made the move.

[tolsti]

Companies insisting on a certain bank can be a pain in the proverbial. BKK bank are good but I transfer my salary directly to Kasikorn every month as there are more K bank ATM where I live than BKK ones. I don't like to carry much cash so frequent smaller withdrawals are preferable. In addition the BKK chipped card can only be used at their own machines. Safer of course but when you go into a shop they get swiped and signed just like all the others.

[zlodnick]

The girl we deal with at BB really keeps an eye out for us and is always telling us about the latest promotion. She told me the other day my wifes account matured and is only drawing .75% , She said we should take advantage of the latest promotion that was I think 2.75%.

Im just wondering why they would tell people they can get more interest? Better for customers, but not better for the bank. Are they just being good to thier customers?

Just an interesting sidenote, I remember when we opened our first savings account. We deposited a million baht and the interest rate was 13%!

[Spaniel]

I've been with Bangkok Bank 10+ years and never a problem. The only issue that occurs down the road is when you replace a passport. If they are still using your old passport number it can cause all sorts of problems. When passport renewal time comes along, make sure to update it at the bank ASAP.

Langsuan Man's suggestion to open your account at a shopping mall branch is a good one; much wider range of operating hours.

What sort of problems will you have if you don't update your new passport number?

[gk10002000]

I bank with Bangkok Bank and when I need money, I just go inside the bank, give them my debit card, and withdraw whatever i need.

There is never a charge by the bank. My US bank used to charge $1.50 for each transaction. That was great, but then they started charging a 1% foreign exchange rate. Then it increased to 2% . Now its at 3%!

I dont know what an ACH transfer is. Is that something I would benifit from?

How much can you withdraw with your debit card? Actually, since you went inside the bank in persons, you should be able to withdraw whatever you want, and is probably isn't a debit card transaction right?