K bank account --opening requirments

[maccraw]

Today in Jomtien on trying to open an account at the K bank I was told that they required immigration letter for address proof, or alternatively sight of an updated bank book from any other Thai bank. I presented the latter and was then handed a note detailing the deposit requirement of 10,000 baht plus charges for atm card and something else{illegible} totalling 599 baht. They insisted that this is a minimum requirement for new foreign customers. I asked if this was head office policy and they said yes and that the regulation for the minimum came into effect last year.

Can any readers comment on the veracity. Thanks.

P.S. My Thai citizen son opened an account with them later today---he needs it for work purposes--he put in 600 baht deposit and paid 400 for the atm card.

[Red Parrot Fish]

Anyone can open a bank account in Thailand.

You just need to do a bit of leg work and find a branch that actually wants you to open one.

[NativeSon360]

Anyone can open a bank account in Thailand.

You just need to do a bit of leg work and find a branch that actually wants you to open one.

FYI~This is not the P.I. here. The banking regulatory laws of Thailand are universally enforced, not arbitrarily applied

Edited January 20, 2016 by NativeSon360

[KhunBENQ]

And you clearly stated that it is about a savings account?

10'000 Baht minimum deposit is official requirement for a current account due to their website.

http://www.kasikornbank.com/EN/Personal/BankAccounts/Current/Pages/CurrentDeposit.aspx

The "required documents" link is dead

Minimum deposit for savings account 500 Baht.

http://www.kasikornbank.com/en/personal/bankaccounts/saving/Pages/SavingDeposits.aspx

Drive to Pattaya, try K-Bank at Royal Garden.

The 599 sounds like that real "scam" of planting/pushing some kind of insurance (to earn a provision).

I just have read about it here.

I have an account (incl. internet banking) since 2009 opened as a tourist with a hotel address (business card) from Royal Garden.

Was that at the branch at corner of Soi 2?

Edited January 20, 2016 by KhunBENQ

[giddyup]

Anyone can open a bank account in Thailand.

You just need to do a bit of leg work and find a branch that actually wants you to open one.

FYI~This is not the P.I. here. The banking regulatory laws of Thailand are universally enforced, not arbitrarily applied

You will get people who had trouble opening an account and others that found it a breeze, so hard to see how the regulatory banking laws are universally applied. I never has a problem with SCB but a friend was refused at Kasikorn, he then went to another branch of the same bank and opened a savings account without any problems.

Edited January 20, 2016 by giddyup

[donnybay]

Call K-Bank HQ, they speak perfect English, ask them which branch and what you need to open

[thrilled]

I opened up A savings account with A Kasikorn branch in Korat.All I needed was my passport and money of course.

[starky]

Same opened an account at the Pattaya Klang branch with just a passport no problem. Threw 10000 baht in as it seemed like sweet <deleted> all anyway to open an account with but no actual amount was specified at the time. Took me half an hour.

[RabC]

Last week I tried Kasikorn near Soi Yume and then Bangkok Bank near immigration in Jomtien and both required the letter from immigration, the K-Bank also wanted a work permit hence why I went to the Bangkok Bank.

[maccraw]

Thanks Khun BENQ for the link.

Thought about going back to the branch and having a go but sense has prevailed.

[KittenKong]

In Thailand all the rules vary all the time, and their application depends on the way the wind is blowing and what the person you are talking to had for breakfast.

In my experience the bank branches in Central Festival often provide a path of least resistance.

[balo]

You do not have to deposit min 10000 if you open a savings account. But you have to tell them you want a savings account, not deposit account. The rules are clearly stated on the Kasikorn website , in English so if they tell you different , just phone the K-bank support while you are there and hand the phone over to the staff, I promise you they will change their mind.

Edited January 21, 2016 by balo

[alocacoc]

I don't want hijack this topic. But may be someone have experience in this. I have a Kasikorn account, but forgot my Bankbook in Europe. I went to the Kasikorn Branch at Central Festival and they wanted a police report to hand out a new bankbook with ATM card. Do all branches ask for a police report? Thanks.

[balo]

If you have the old ATM card you can just show them that together with your ID and they will replace the bank book. But if you want to apply for an ATM card at the same time I can understand they want a police report.

[KhunBENQ]

I don't want hijack this topic. But may be someone have experience in this. I have a Kasikorn account, but forgot my Bankbook in Europe. I went to the Kasikorn Branch at Central Festival and they wanted a police report to hand out a new bankbook with ATM card. Do all branches ask for a police report? Thanks.

Yes, seems a standard requirement to present a police report.

I once traveled to Pattaya where I have a K account.

ATM card expired, bankbook at home.

"Bankbook or police report".

I had other sources so postponed it.

[alocacoc]

Thanks, then i will give up this account, or i could it use it for their Virtual Web Card. I don't want to go to police station. I don't want end up in their database for no reason.

[johng]

They wont take fingerprints or DNA samples when you make a report of your lost bank book, they may ask for your address and to look at your passport,immigration police will already have these details. ( don't they ? )

[pattayamick64]

try bangkok bank soi 6

[KhunBENQ]

or i could it use it for their Virtual Web Card

Good idea. Very handy for payment on the web and you have full control of the limits.

[KhunBENQ]

They wont take fingerprints or DNA samples when you make a report of your lost bank book, they may ask for your address and to look at your passport,immigration police will already have these details. ( don't they ? )

A legal formality, No big deal.

The bank needs this report for their files to revoke/invalidate the passbook.

Edited January 21, 2016 by KhunBENQ

[alocacoc]

I guess i could ask for such a report at the police station Jomtien. Shorter queues.

[balo]

I have visited the police at least 5 times to get a police report, nothing to worry about if you are not wanted

[maccraw]

An update showing some chat with K bank------------- james: I am retired,with a long stay retirement visa. The branch asked me to show bank books from other accounts with Thai banks which I did, then was told The minimum amount was 10,000 baht plus 400 for an atm card plus 199 for something else
Chaleeya: yes, sir.
Chaleeya: if you are retired person, the minimum deposit is 10,000 THB.
Chaleeya: 500 THB is for person who apply with work permit.
Chaleeya: but if you have ATM card, you can withdraw the fund that you deposited.
james: What dos yes sir mean--is your website whuch states 500 as the minimum incorrect or are you saying that a savings account needs a minimum starting deposit of 10,000?
Chaleeya: if you look up at the websit, 500THB deposit is for person who open the account with work permit condition.
Chaleeya: but if you are retired person which means you do not have work permit, to open the saving account requires 10,000 as the minimum deposit.
james: I emphasise that it is a SAVINGS account.

I gave up at this point

[digbeth]

Police report for loss documents at soi 9 is probably the most efficiently run service there.... in and out (after paying of course) so don't be afraid to go down there and brave through the red tape

their rationale is sound,

should the old bank book fall into the wrong hand, or someone want to steal your identity and issue a new bank book without your knowledge, when they go to the bank to make a new book, at least they have made a statement with the police somewhere claiming that they have lost the original book... how much of help should that turn out to be false? at least the bank are covering their <deleted> by having the police report... that the police doesn't determine the veracity of such claim of loss documents is of no consequence... Should it comes to that at least the criminal who ask for false police report would have added charge of making false claim to police too

[KhunBENQ]

An update showing some chat with K bank------------- james: I am retired,with a long stay retirement visa. The branch asked me to show bank books from other accounts with Thai banks which I did, then was told The minimum amount was 10,000 baht plus 400 for an atm card plus 199 for something else

Chaleeya: yes, sir.

Chaleeya: if you are retired person, the minimum deposit is 10,000 THB.

Chaleeya: 500 THB is for person who apply with work permit.

Chaleeya: but if you have ATM card, you can withdraw the fund that you deposited.

james: What dos yes sir mean--is your website whuch states 500 as the minimum incorrect or are you saying that a savings account needs a minimum starting deposit of 10,000?

Chaleeya: if you look up at the websit, 500THB deposit is for person who open the account with work permit condition.

Chaleeya: but if you are retired person which means you do not have work permit, to open the saving account requires 10,000 as the minimum deposit.

james: I emphasise that it is a SAVINGS account.

I gave up at this point

Incompetent or malicious misinformation.

You have to look for another bank/branch as mentioned.

[KittenKong]

Chaleeya: if you are retired person, the minimum deposit is 10,000 THB.

Chaleeya: 500 THB is for person who apply with work permit.

Chaleeya:but if you have ATM card, you can withdraw the fund that you deposited.

They told you what to do: pay in the 10,000B and then withdraw 9,500B immediately.

Rules obeyed. Everyone happy.

[maccraw]

Khun BENQ

The chat was on line with the official k bank website where you are invited to contact them by phone , email or ,as in this case live on-line chat--so I am of the opinion that the rules about savings accounts probably do include the 10,000 amount which was the point of my original post.

I tried to open an account for my son--his employer asked for K bank account for salary payment. I have several bank accounts here,some going back 25 years and I just was astonished to be told what was necessary to open a simple savings account--I frankly didnt believe the smiling lady assuring me that that was the case.

My son has dual nationality{ and the same name as me} so it was no problem for him to open the account himself--which he did later the same day at the same branch--with a deposit of 600 and 400 for the atm.

So one cannot always be correct in assuming that the Thai service personell are giving you duff gen.

I do wonder if Id gone to a different K bank branch if the same requirements would be stipulated--???

[maccraw]

Kitten Kong

Gosh ! why didnt I think of that?

Seriously- I thought I was being lied to and I didnt like it. I didnt need the account--

funilly enough I did go the atm there and withdrew the necessary {from a different bank] then going back in --but

why give them the chance to laugh at the silly old farang-depositing 20 times the required amount simply because he is

told to do so -- as the old News of The World reporters did I made my excuses and left, telephoning my son to do the business himself.

[KittenKong]

I do wonder if Id gone to a different K bank branch if the same requirements would be stipulated--???

I suspect that some branches might have been more flexible, or might have explained better how to work around the requirement.

[balo]

An update showing some chat with K bank------------- james: I am retired,with a long stay retirement visa. The branch asked me to show bank books from other accounts with Thai banks which I did, then was told The minimum amount was 10,000 baht plus 400 for an atm card plus 199 for something else

Chaleeya: yes, sir.

Chaleeya: if you are retired person, the minimum deposit is 10,000 THB.

Chaleeya: 500 THB is for person who apply with work permit.

Chaleeya: but if you have ATM card, you can withdraw the fund that you deposited.

james: What dos yes sir mean--is your website whuch states 500 as the minimum incorrect or are you saying that a savings account needs a minimum starting deposit of 10,000?

Chaleeya: if you look up at the websit, 500THB deposit is for person who open the account with work permit condition.

Chaleeya: but if you are retired person which means you do not have work permit, to open the saving account requires 10,000 as the minimum deposit.

james: I emphasise that it is a SAVINGS account.

I gave up at this point

This is the official statement in English from K-bank website :

Savings account: Account opening

Required minimum deposit of account opening is 500 Baht.

Current deposit account :Account opening

Deposit a minimum of 10,000 Baht for individuals, or 30,000 Baht for associations

If the balance in a Current Account falls below 1,000 Baht, customers will be charged a small custodial fee

There should be no confusion here , no mentioning of a work permit , only 500 baht.

If they inform you about a 10000 baht deposit it is not the normal savings account.

I suggest you confront them with the requirements from their own website.

Edited January 22, 2016 by balo