Best bank for international business

[grumpyoldman]

Hi all,

need advice on which Thai bank you think is best for international business.

-ease of international transfers

-secure online services

-decent exchange rates

-low fees

Can anyone help?

[Davedub]

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

[user82374298374]

None of them.

[jippytum]

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

[charliebadenhop]

Bangkok Bank has been good for me.

If any international bank has special services that other banks don't have, I would LOVE to know about it!

[abrahamzvi]

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

a

The same applies to the US. The Bangkok Bank has an office in New York and transfers work very well at reasonable exchange rates. They charge in N.Y. $10 per transfer.

[Surasak]

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

[Davedub]

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

[Srikcir]

Why a Thai bank?

There is CitiBank, HSBC and ScotiaBank to mention a couple.

[1FinickyOne]

Kasikorn has been terrific - good rates, the wire transfers are there first thing in the morning if sent during the night - they call to notify me…

[William C F Pierce]

I have a BKK bank account with a UK address. It is only for my convenience for the future. Otherwise I don't use a Thai or UK bank to transfer money. I know I can get 10% more if I bring stirling cash to Thailand and get another 0.5 to 1.0% by changing it at the SK money shop in Chiang Mai. Of the Thai banks if you have to use them Kasikorn Bank always seems to give the best exchange rate. Another half a percent is always welcome on your spending power. Especially on a large sum. If you're transferring funds for something like a house purchase then use a Forex company. The first time you use them it is usually free. So don't use them until you are ready to do a house purchase, if that is your intent. This will give you the maximum savings.

[JMWPACIFIC]

Why a Thai bank?

There is CitiBank, HSBC and ScotiaBank to mention a couple.

I'd vote for Citibank and it is a Thai bank---a sub of Citicorp

[thaiturkey]

Kasikorn has been terrific - good rates, the wire transfers are there first thing in the morning if sent during the night - they call to notify me…

NOT FOR OUTWARD TRANSFERS

they will place many obstacles in your path for outward transfers. AVOID AT ALL COSTS!

BB best Thai bank in this case.

[grumpyoldman]

Some great info thanks to all for the input.

Transfers and exchanges would be going between Singapore, Thailand and the US, so far for that reason I'm liking JMWPACIFIC's post about Citibank, but am open still to all advice.

Kind thanks, GOM

[Coyoti]

I've used Bangkok Bank for years to transfer from US to Thailand, and in general liked it. What I don't like is the "unreported" fees (only available on a separate sheet) and while okay, not the best exchange rate. Lately I've found a better alternative for me. That is Charles Schwab. In my case, I transfer money via ACH from my credit union in the US to my Schwab Brokerage account and use my Schwab debit card at an ATM to get money here. The ATM fees are refunded, and the exchange rate is always better than Bangkok Bank. You do have to have a brokerage account with them though. Downsides are the total amount available per day and the length of time to get funds from the source in US to ATM here. As has been pointed out before, if you are able, the best exchange rate is to bring cash from outside and exchange at Vasu, SIA or Super Rich.

[NanLaew]

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

Unless one has a UK bank account, the only way is to make the cash deposit at BB in London but I am not sure if any bank allows anyone to just walk in with a wedge and ask it to be sent anywhere, let alone overseas.

Maybe check with the airlines on how much to ship your mattress to Thailand as excess baggage? Unaccompanied baggage is cheaper BTW.

[williamw921]

got to say I agree with the posters who recom

[williamw921]

Hi I have to agree with the posters who recommend Bangkok Bank. found them (Udon thani branch) to be very helpful

[OJAS]

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Better to get GBP-to-THB conversions performed in Bangkok rather than in London for optimum rates.

Edited November 25, 2015 by OJAS

[NanLaew]

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Better to get GBP-to-THB conversions performed in Bangkok rather than in London for optimum rates.

"Anyone with a UK bank account can transfer funds into a Bangkok Bank account in Thailand using this service."

As suspected, if one doesn't already have a UK bank account or access to the account of someone else who you can trust, the BB London service isn't an option.

[laislica]

What about using an online forex trading account?

A wire transfer cost of £12.50 per transaction and a 1-2% cost on the rate.

[apetley]

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

[chiang mai]

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

[apetley]

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.

[topt]

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.

And do you know how much your receiving bank charged you - or was it hidden in the exchange rate?

[apetley]

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.

And do you know how much your receiving bank charged you - or was it hidden in the exchange rate?

Same as that shown on their website for international transfers.

Edit. It worked out at about 400 bht taken by the receiving bank.

Edited November 28, 2015 by apetley

[fred Kubasa]

" Best Bank " in Thailand is like a dog show -- the winner is still a dog !