Working in BKK - which bank to choose?

[jiijii]

Hi,

Im moving to Bangkok in October for work and i need to open bank account where i receive my salary. What i need is good nationwide ATM coverage, good internet bank(in english) for money transfers and paying rent and other bills and credit card(either Visa or Master will do).

I will have one year visa and work permit. Im 30 years old and my monthly income is around 200k baht if it has anything to do with credit card application.

Can I open account and get credit card right away if I get letter from employer stating my income? Or do i need payslips for this?

Any recommendations which bank i should choose?

[lopburi3]

If for salary payment you may not have any choice - most employers pay to specific banks so I would check on that first. If you just mean where you can bank your payments that will open all but most foreigners stick with a handful - Bangkok Bank, Kasikorn and SCB being the most popular. All are nationwide with many ATM and branches and internet banking. Be aware use for ATM outside your main banking area can have a fee involved - and you can use any of the normal Thai bank ATM's to obtain money as they have a pool system. Not sure what credit card requirements are (for most of us without local employment they are not a concern as debit cards are normally used). Not sure you will be paying rent by internet banking unless you make arrangement with them for transfers into a bank account - payments by internet are to specific registered firms.

[Soutpeel]

Who does your employer bank with ? Go with them as it makes getting a cc easier as they will do the introductions for you and help you get your accounts set up, my lot bank with SCB and it was all set up for me and a CC issued all very easy

[SantiSuk]

To answer one of your points that has not been addressed. ATMs are everywhere in Thailand - sometimes it seems like they are rats - always one within 100 metres! Nearly all ATMs accept the cards of all banks (? - well all major banks at least) without additional charge. All 711 convenience stores have an ATM and you will soon find out they coat the country like flies.

You will have to pay 20 baht extra to make an ATM withdrawal when out of your bank branch home province - doesn't seem to be anyway round that (unless others know different) but it's a small fee, unless you are the type that likes to pull down small amounts on a daily basis. Internet banking in English is fine with the two I have experience of - Bangkok Bank and Krungsri.

If you are working centrally there will be a branch that has English speaking staff not too far away. You just have to ask when you open an account (ask about the nearest English speaking branch closest to where you live also. Krungsri has a list of branches where English is spoken and I assume others do too.

There are charges for opening accounts/taking ATM cards and an annual fee for maintaining an ATM card which you might not expect depending on your home country, but nothing outlandish.

[craigt3365]

If you are from the US, and need to transfer funds, Bangkok Bank is pretty good. Just be careful with the chipped cards. Not all ATMs accept them. Though you'll normally be able to find another machine without too much trouble. I was down south and not one machine in the entire town had one that did though!

[steven100]

Bangkok Bank is the one that will most suit your requirements.

[jiijii]

Thank you everybody for the answers. I will then try bank that my employer is using if they want to pay in specific bank.

[Briggsy]

Not Krung Thai.

[meltingpot2015]

Not Krung Thai.

How come?. I've recently opened an account with them and everythings gone swimmingly.

[Briggsy]

Not Krung Thai.

How come?. I've recently opened an account with them and everythings gone swimmingly.

Krung Thai is a government-owned bank.

Its main purpose is to facilitate banking for the govt. For example, most public sectors get their salary paid into a Krung Thai account. Student loans are often put through the Krung Thai.

It is not geared towards boosting customer service to maximise profit. Thus it always comes out worse in terms of customer service than the leading non-government banks.

Public sector employees know their jobs are much safer than the equivalent job in the private sector. Public sector employees are more likely to work in a complacent manner. They will work with much less initiative always passing decision-making upwards.

However, for ordinary banking transactions, it is very possible you will notice no difference as a customer between Krung Thai and, say, Bangkok Bank. Thus you can be very satisfied. It is often when things go wrong that one finds out which company is geared to responding to a genuine customer complaint and which is not.

But don't take my word for it, ask a selection of Thais if they would choose Krung Thai or a private sector bank.

[lopburi3]

http://www.thaivisa.com/forum/topic/845345-krungthai-employee-confesses-to-bt19-million-theft/#entry9692262

http://www.thaivisa.com/forum/topic/845244-pm-orders-three-state-banks-to-get-ready-for-national-savings-fund-operations/#entry9690644

[meltingpot2015]

Not Krung Thai.

How come?. I've recently opened an account with them and everythings gone swimmingly.

Krung Thai is a government-owned bank.

Its main purpose is to facilitate banking for the govt. For example, most public sectors get their salary paid into a Krung Thai account. Student loans are often put through the Krung Thai.

It is not geared towards boosting customer service to maximise profit. Thus it always comes out worse in terms of customer service than the leading non-government banks.

Public sector employees know their jobs are much safer than the equivalent job in the private sector. Public sector employees are more likely to work in a complacent manner. They will work with much less initiative always passing decision-making upwards.

However, for ordinary banking transactions, it is very possible you will notice no difference as a customer between Krung Thai and, say, Bangkok Bank. Thus you can be very satisfied. It is often when things go wrong that one finds out which company is geared to responding to a genuine customer complaint and which is not.

But don't take my word for it, ask a selection of Thais if they would choose Krung Thai or a private sector bank.

Absolutely true. 4 months down the line after opening account I have discovered that this is one of the worst banks for customer service.

Telephone helpline has atrocious delays, e-mails are acknowledged (automated) but not responded to. Hint..do not email their Call.CallCenter@ktb... email address or personal.banking@ktb... email address. You will not receive any response. Go to the website http://www.ktb.co.th/ktb/en/contactus.aspx and contact them. Even then the support is sketchy at best. To cancel SMS alert service, they advised me to send in a copy of my passport, so they could forward it to the account opening branch. But, I had already cancelled this service through Internet banking last month.

Be warned. Their tagline should be KTB - inefficiency and incompetence at it's best.

[Nuddy]

It always seems to be the very first bank account opening that causes the difficulty. Many have said on this forum that opening, extending account base is easier and no fuss once the first account is opened.

To save hassles a Thai sponsor is an easy way in.

Therefore I reckon the suggestion to use the employers Bank makes sense in a couple of ways.

They will probably introduce you and their payments direct to your account will arrive more smoothly.

I use Bangkok Bank and have extensive Banking across all aspects of their facilities but opening the first account required a sponsor. A guy in the wife's family who had a large banking connection with them. I live in Issan.

[NoshowJones]

Who does your employer bank with ? Go with them as it makes getting a cc easier as they will do the introductions for you and help you get your accounts set up, my lot bank with SCB and it was all set up for me and a CC issued all very easy

Both the schools I worked for paid my salary into my own bank account.

Just had to fill in a form with my bank details.

[NoshowJones]

Not Krung Thai.

How come?. I've recently opened an account with them and everythings gone swimmingly.

Krung Thai is a government-owned bank.

Its main purpose is to facilitate banking for the govt. For example, most public sectors get their salary paid into a Krung Thai account. Student loans are often put through the Krung Thai.

It is not geared towards boosting customer service to maximise profit. Thus it always comes out worse in terms of customer service than the leading non-government banks.

Public sector employees know their jobs are much safer than the equivalent job in the private sector. Public sector employees are more likely to work in a complacent manner. They will work with much less initiative always passing decision-making upwards.

However, for ordinary banking transactions, it is very possible you will notice no difference as a customer between Krung Thai and, say, Bangkok Bank. Thus you can be very satisfied. It is often when things go wrong that one finds out which company is geared to responding to a genuine customer complaint and which is not.

But don't take my word for it, ask a selection of Thais if they would choose Krung Thai or a private sector bank.

Absolutely true. 4 months down the line after opening account I have discovered that this is one of the worst banks for customer service.

Telephone helpline has atrocious delays, e-mails are acknowledged (automated) but not responded to. Hint..do not email their Call.CallCenter@ktb... email address or personal.banking@ktb... email address. You will not receive any response. Go to the website http://www.ktb.co.th/ktb/en/contactus.aspx and contact them. Even then the support is sketchy at best. To cancel SMS alert service, they advised me to send in a copy of my passport, so they could forward it to the account opening branch. But, I had already cancelled this service through Internet banking last month.

Be warned. Their tagline should be KTB - inefficiency and incompetence at it's best.

I have an account with Bangkok bank and they have never answered any email I have sent through their website.

[csabo]

BK Bank is best for Americans because of the transfers. I use them for that. BKK ATM cards only work in their machines (or at least when I opened the account that was true). BKK is extremely security conscience which is good but gets frustrating at times. I also have KTB as they were the only ones that would initially open an account for me. Not to contradict the negative experiences from previous posters re KTB but, comparing the online or mobile experience both institutions offer I have to say I much prefer KTB's interfaces. I use it all the time for moving money around and paying bills and find it more comprehensive and streamlined. And though I rarely enter the branch they just relocated right near me which is great when you need a face to face.

[lopburi3]

Bangkok Bank has the option to have chip type cards and only Bangkok Bank ATM machines have been able to read them - but that was a choice the customer made and within the next year all Thai banks should be converted to such card reading ability.

[Ks45672]

Bangkok Bank has the option to have chip type cards and only Bangkok Bank ATM machines have been able to read them - but that was a choice the customer made and within the next year all Thai banks should be converted to such card reading ability.

They told me that last year.... Never happened, very annoying when your atm doesn't work in 90% of the machines but I think cards with a chip are much less likely to be "skimmed'so I'll put up with the inconvenience for the extra security....

Thai banks are not obliged to refund if your atm gets skimmed as far as I know so they are not under as much pressure as they should be to upgrade the security of every atm....

[meltingpot2015]

@csabo: Nope no contradiction at all, if someone is talking apples (phone and email/web support) and the other person is talking oranges (Face-to-face banking and website interface).

Edited November 26, 2015 by meltingpot2015

[meltingpot2015]

I have an account with Bangkok bank and they have never answered any email I have sent through their website.

KTB internet banking has a 'talk to net officer' feature on their sleek web interface. But its only available for thai citizen.

[Baerboxer]

Have a look around and see which one you like. Service is a personal thing and we all have our own preferences.

I use Krungsri. I have savings, term, and foreign currency accounts, and their internet banking is very good now. They use OTP for on-line transactions and I get an email every time I log-on and SMS transaction details for security. They also offer good credit cards.

That Bank is also 77 % Japanese owned.

I have an account at Kasikorn, just as a back up and for a "pocket money" account.

Wife prefers Bangkok Bank for her back up.

[meltingpot2015]

Who does your employer bank with ? Go with them as it makes getting a cc easier as they will do the introductions for you and help you get your accounts set up, my lot bank with SCB and it was all set up for me and a CC issued all very easy

Have a look around and see which one you like. Service is a personal thing and we all have our own preferences.

I use Krungsri. I have savings, term, and foreign currency accounts, and their internet banking is very good now. They use OTP for on-line transactions and I get an email every time I log-on and SMS transaction details for security. They also offer good credit cards.

That Bank is also 77 % Japanese owned.

I have an account at Kasikorn, just as a back up and for a "pocket money" account.

Wife prefers Bangkok Bank for her back up.

You don't have to bank with your employers bank.

As for service being a personal thing. Have a look at page 37 of 1143-7097-1-PB.pdf:

The evidence from customers does not appear to support the view of banks as supportive nor as customer oriented as required..

Also, taking a look around is not as simple, if most (almost all) banks are asking for a work permit or letter from your Embassy, and your particular Embassy is not issuing such letter.

[mydee]

If you are from the US, and need to transfer funds, Bangkok Bank is pretty good. Just be careful with the chipped cards. Not all ATMs accept them. Though you'll normally be able to find another machine without too much trouble. I was down south and not one machine in the entire town had one that did though!

I bank with Bangkok bank mainly because when we first arrived the person knew what she was talking about and allowed me to open an account. They also have a pretty wide range of ATMs I was at a little restaurant/ cooking school outside near Cambodia and lo and behold there was an ATM.

The chip is also a plus as it adds to the security of their card.