Best Thai Bank Account

[stament]

There are several threads on banks most notably one that focuses on ATM charges when using FOREIGN ATM cards, however I can't see one that specifically covers a couple of questions I have, so rather than hi-jacking those threads and asking off topic questions I thought I would start a new thread which focused on the following;

1/. What Thai bank accounts offer free domestic ATM withdrawals and what limitations are there if any, e.g. are the number of withdrawals unlimited, does a certain balance need to be maintained, etc? Is there a limit to how many out of region withdrawals that can be made or is it unlimited?

2/. Monthly regular savings accounts, which account offers the best return and what are the minimum requirements, term, restrictions, etc. In the UK for example childrens accounts normally offer a higher percentage. Are there any accounts in Thailand with similar anomalies?

Please note I full expect the account recommended in 1 to be different to 2. If 2 means a very high balance such as 2m baht needs to be maintained to get free withdrawals then I can understand that, and perhaps some lower balance accounts can be recommended for us normal Joe Publics who aren't sitting on a mountain of cash at any one time ;-)

Thanks in anticipation,

[allane]

A rather generalized reply , but here goes:

- almost all Thai banks offer free withdrawals at their own ATM's in the city where your home branch is located. Using your card outside of your home city, but at an ATM of the same bank adds a charge of about 20 baht. Using the card at another bank's ATM, whether in or outside of your home city, adds a charge of 10 or 15 baht, in addition to the 20 baht aforementioned. So, a withdrawal at an ATM of another bank outside of your home city will cost you about 30 - 35 baht. To the best of my knowledge, all banks within the ATM Pool (i.e. all the major ones) allow two cash withdrawals per day.

- I don't know of any place that maintains information on all bank that is both comprehensive and up to date. I think all the major banks have websites in English, so best to search them individually. In general, a lot of the "specialty deposit products" for lack of a better term, are not available to foreigners. But, check the websites of the individual banks, if something that interests you is mentioned on the English version of their website, it is probably available to you, though that is not guaranteed.

[The manic]

You should be looking at quality of service and efficiency and friendliness. The other stuff is about the same for all bank. I pay to withdraw and deposit when out of my bank home city.

[stament]

How does the ATM pool work and which banks are in it?

[KhunBENQ]

How does the ATM pool work and which banks are in it?

Probably all that you have ever seen in Thailand

All the big ones of course.

http://www.itmx.co.th/relatedWebSites/default/other

A prominent exception is AEON.

ITMX

National ITMX Company Limited was founded under the name ATM Pool Company Limited in 1993

ITMX (Interbank Transaction Management and Exchange)

http://www.itmx.co.th/homepage/companyInfo/index

One feature that works at least with Bangkok Bank and Kasikorn ATM card:

up to four withdrawals per month at other bank ATMs without fee (within the same "clearing area").

Practically: if there is a queue at your banks ATM, walk to the next of any other bank.

I know it from practical experience for Bangkok Bank and from the website of Kasikorn.

You will even get the balance information at the other banks ATM!

I have not checked for other banks, but likely the same free withdrawls.

Clearing area: as far as I know its the province.

For Bangkok area there is an extended clearing area that includes neighboring provinces (Nonthaburi?, Samut Prakan?)

Edited November 14, 2015 by KhunBENQ

[cnx355]

Krungsri Bank ( Bank of Ayudhya ) offer an ALL ATM card ( Black color ).

500 B for 3 years and no fee in all Branches and all the others Banks in Thailand.

I had one in the last 3 year and never paid a ATM fee for using it all over Thailand.

[stament]

so no free withdrawals out of region :-(

[phetphet]

Also, I think I am right in saying this; Bangkok Bank do an ATM card with or without a chip. If you have the one with the chip in it, it will only work in Bangkok Bank ATM's, whereas the other will work in any ATM in Thailand. Not sure about abroad.

Others can maybe confirm this.

Also, if you look at other threads in the "Banking Forum", you will find lots of info. on different interest rate offers from the various banks.

[stament]

Krungsri Bank ( Bank of Ayudhya ) offer an ALL ATM card ( Black color ).

500 B for 3 years and no fee in all Branches and all the others Banks in Thailand.

I had one in the last 3 year and never paid a ATM fee for using it all over Thailand.

Sounds ideal, any minimum requirements or conditions attached to the account?

[stament]

Krungsri Bank ( Bank of Ayudhya ) offer an ALL ATM card ( Black color ).

500 B for 3 years and no fee in all Branches and all the others Banks in Thailand.

I had one in the last 3 year and never paid a ATM fee for using it all over Thailand.

Thanks for the tip, looks like this one

https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/KrungsriDebitcard/KrungsriDebitJadHaiSavingsCard.html#RemarkLink1029

https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/SavingsDeposit/JadHaiSavings.html

Conditions are that you have to have a Jad Hai savings account for the card but I couldn't see any minimum account balance.

[cnx355]

so no free withdrawals out of region :-(

This is the ALL ATM card I have, and actually the cost is 480 B for 3 years. And I do not need a special account, just a regular saving account.

And yeas no for outside the province , no fee using it in any other bank ATM.

https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/KrungsriDebitcard/KrungsriDebitAllATMs.html

[craigt3365]

Also, I think I am right in saying this; Bangkok Bank do an ATM card with or without a chip. If you have the one with the chip in it, it will only work in Bangkok Bank ATM's, whereas the other will work in any ATM in Thailand. Not sure about abroad.

Others can maybe confirm this.

Also, if you look at other threads in the "Banking Forum", you will find lots of info. on different interest rate offers from the various banks.

The BB card with a chip can only be used in machines setup for them. I had one, was in the middle of nowhere, and couldn't find an ATM. Ended up continuing on our way for a long time before finding one that would work. I've now got one without a chip, and keep a low balance there.

The deposit rates are all about the same right now. BAD! LOL

Savings rates and ATM access shouldn't really be a major issue with opening an account. If you go with the larger, well established banks here.

[topt]

Also, I think I am right in saying this; Bangkok Bank do an ATM card with or without a chip. If you have the one with the chip in it, it will only work in Bangkok Bank ATM's, whereas the other will work in any ATM in Thailand. Not sure about abroad.

Others can maybe confirm this.

Also, if you look at other threads in the "Banking Forum", you will find lots of info. on different interest rate offers from the various banks.

Pinned on going thread on savings rates - http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/page-77#entry10065982

[Pib]

so no free withdrawals out of region :-(

This is the ALL ATM card I have, and actually the cost is 480 B for 3 years. And I do not need a special account, just a regular saving account.

And yeas no for outside the province , no fee using it in any other bank ATM.

https://www.krungsri.com/bank/en/PersonalBanking/DepositProducts/KrungsriDebitcard/KrungsriDebitAllATMs.html

I expect with that card and several other Krungsri cards the Krungsri SMS service is required which cost Bt19 per month...it's deducted from your account monthly. Now if you are person who don't want to pay extra for this SMS service then another card would probably be desired.

I have a Krungsri Mee Tae Dai high interest savings account (currently paying 1.8% compared the typical 0.5%)...I got their basic debit card which is free...no annual fee. But as mentioned it automatically comes with the Bt19/month SMS service which is fine with me. I get two free ATM withdrawals per month, but the 3d and above ATM withdrawal cost you Bt50. But this is one of my primary savings accounts where I do keep some semi-big money in...not one of my frequent transaction accounts with much lower balances. Two free withdrawals per month is more than enough for this particular account since I'm usually just doing the withdrawal so I can put some money in my Bangkok Bank account which most of my day to day Thai bank transactions occur with...but the Bangkok Bank saving account only pays around 0.5% interest. Basically with my Krungsri Mee Tae Dai account significantly higher interest overrides the desire for an debit card that provides plenty of free withdrawals and that is what I intentionally wanted with this particular Krungsri account.

A person needs to decide what type of savings account "and" debit card they want. Each person will have a different set of desires/requirements. And watch out for those debit cards that come with accident insurance because that will significantly bump up the annual fee even if free ATM withdrawal are allowed.