Beware of Bangkok Bank

[bazza73]

On 1/24/2017 at 7:46 AM, NancyL said:

 

 

Often one of the first signs of someone developing dementia is troubles in managing personal finances.

A former wife regularly accuses people around her of stealing money from her, when she's simply forgotten where she has put it. Will go shopping and halfway there in the car will forget what she wants to buy.

It's driving my son crazy, because he has to travel for 3 hours to help her get back into her house when she forgets where the house keys are. He blames one of the doctors who had her on prednisolone for six months for chronic arthritis.

I was on it for 3 days recently, and it scared the hell out of me. Really screwed up my short-term memory.

[anto]

Payed for a flight to Europe with Etihad with my Bangkok Bank debit card .Cost was around B17,500 .I was double charged and B35,000 was debited from my a/c .Not sure if it was Etihad or BB fault .Got my overcharge back anyway after about 3 weeks . Other than that i never had a problem with them .

[6thST]

On 1/23/2017 at 11:40 PM, moe666 said:

Never any problem with my Bangkok Bank account and of course I do not have a ATM card, going to bank for withdrawal is inconvient but noworries about being hacked

I never use my ATM card....

[gk10002000]

On 1/23/2017 at 11:40 AM, moe666 said:

Never any problem with my Bangkok Bank account and of course I do not have a ATM card, going to bank for withdrawal is inconvient but noworries about being hacked

Frankly, if I had a bank account there, I too might keep most of my money in an account that did not have an ATM card.  I might keep a separate account with some nominal amount of money for routine or emergency ATM card usage, but that account would not have any links to any accounts and I might just occasionally deposit cash in it

[JaseTheBass]

I never use my ATM card....

Great bank if you're scared to use your ATM card...

Sent from my Cray II supercomputer

[amexpat]

27 minutes ago, JaseTheBass said:

 

Great bank if you're scared to use your ATM card...

Sent from my Cray II supercomputer
 

 

It's not the BANK whose stability is in question here. 

 

6thST, you don't use a mobile phone, do you?  And what are you doing here on an unsecured web site?

[scottiejohn]

This Topic is titled "Beware of Bangkok Bank".

 

It should be renamed "Beware of Your Bad Banking Practices".

 

There is nothing in this whole topic/thread that is specific to one Bank or Branch.  All the same things mentioned here have happened at banks and to people all round the world.

 

It is down to the way the "banking system" does or does not work and how you inter-react with it that is the problem.

 

Please stop bashing one Bank, bash them all, and change the title.

Edited June 25, 2017 by scottiejohn
edited

[jenifer d]

money can be wired from US bank via SWIFT code;

have never had problem w/Bangkok Bank ATM's even though i have SCB account,

i often use Bangkok Bank if no SCB where i'm at, (for instance, Betong in Yala province, no SCB branches or machines)

since there is no transaction fee even for non-Bkk Bank accounts

 

on our island or in other areas, i avoid standalone ATM's or those not at a bank branch, since often there are skimmers

(esp on our island) ATM's at 7/11's are ok as well

 

agree w/other posters that maybe OP is experiencing onset dementia or is being victimized by somebody close to them...

[clashpie]

My piggy bank has never been hacked...and I ain't telling porkies!

[elephant45]

Never had any problems, better than any Western Banks. Except no interest. Always cover the keyboard with my hand and wipe it of and ck the card insert to see if it is really locked in. Not all the time but in certain tourist areas where I usually do not with draw money. My biggest complaint would be trying to call them on the phone, almost impossible.

[Mrjlh]

The only issue I have had with Bangkok Bank is when opening a joint account.  The young lady filling out the Bank forms wanted to see my 'Green Card".  She would not open the account until she saw it. The requirement is listed on the W-9.  It took awhile but I finally got her to understand "Green Cards" were for US Immigrants not for US Citizens.  And Green Cards do not apply once a person is given a TIN or SS Number either. Got the problem fixed.  So you might run into this problem at some point by some Thai not familiar with our laws.  But so far, Bangkok Bank has been really solid after 11 years now.

[Pib]

19 minutes ago, Mrjlh said:

The only issue I have had with Bangkok Bank is when opening a joint account.  The young lady filling out the Bank forms wanted to see my 'Green Card".  She would not open the account until she saw it. The requirement is listed on the W-9.  It took awhile but I finally got her to understand "Green Cards" were for US Immigrants not for US Citizens.  And Green Cards do not apply once a person is given a TIN or SS Number either. Got the problem fixed.  So you might run into this problem at some point by some Thai not familiar with our laws.  But so far, Bangkok Bank has been really solid after 11 years now.

And if you did have a Green Card (U.S. Permanent Resident card) which are now pink versus green, but they retained their nick name of Green Card the bank rep may have been even more confused.    

[Andrew Dwyer]

When I opened an account with them they did insist I filled in a US Tax form ( ? ), I showed them my British passport but that didn't deter them.
So, when we were going through the motions of opening the account I slipped the US Tax form under a folder on her desk and it went unnoticed.

[BradinAsia]

Khun PhD,

 

Yes, it's true that Bangkok Bank is the only Thai bank authorized to handle direct deposits of monthly annuity payments from the U.S. However, if your purpose

is to get your funds from the U.S. there is a much better and simpler way. I lived in Chiang Mai four years (just left there in April) and this is how I did it.

 

(1)  I set up a direct deposit of my retirement pay to my U.S. bank. (If you get an account with USAA (San Antonio, TX), they are by far the best bank in existence.)

(2)  Every month, I went to Bangkok Bank (not one of the smaller branches, they can't do this),  gave the lady at the desk my USAA Visa/ATM card and asked if I can

please withdraw 50,000 baht. Note: You need no Bangkok Bank account and your daily withdrawal limit is what you set up with USAA (all done on their website).

(3)  The lady at the desk asks me if I want in cash. I say yes, please.

(4)  She asks for my passport, I give it to her, she copies it and I sign the copy.

(5)  Not more than one minute later she hands me 50,000 baht.

(6)  There is NO FEE at either end. It's as simple and easy as falling off a chair.

 

An American friend told me about this when I first arrived in Chiang Mai. Forget about direct deposit to Bangkok Bank, it's a waste of time.

 

Edited July 3, 2017 by BradinAsia

[sqwakvfr]

I did the exact same thing as BradinAsia.  I've had a USAA account for 30 years and I also have a Bangkok Bank account.  I am very cautious when it comes to wire transfers from and into my USAA account.  The cash out and cash in appears to be the best way so far. 

 

So far no complaints about Bangkok Bank.  

[Pib]

2 hours ago, BradinAsia said:

Khun PhD,

 

Yes, it's true that Bangkok Bank is the only Thai bank authorized to handle direct deposits of monthly annuity payments from the U.S. However, if your purpose

is to get your funds from the U.S. there is a much better and simpler way. I lived in Chiang Mai four years (just left there in April) and this is how I did it.

 

(1)  I set up a direct deposit of my retirement pay to my U.S. bank. (If you get an account with USAA (San Antonio, TX), they are by far the best bank in existence.)

(2)  Every month, I went to Bangkok Bank (not one of the smaller branches, they can't do this),  gave the lady at the desk my USAA Visa/ATM card and asked if I can

please withdraw 50,000 baht. Note: You need no Bangkok Bank account and your daily withdrawal limit is what you set up with USAA (all done on their website).

(3)  The lady at the desk asks me if I want in cash. I say yes, please.

(4)  She asks for my passport, I give it to her, she copies it and I sign the copy.

(5)  Not more than one minute later she hands me 50,000 baht.

(6)  There is NO FEE at either end. It's as simple and easy as falling off a chair.

 

An American friend told me about this when I first arrived in Chiang Mai. Forget about direct deposit to Bangkok Bank, it's a waste of time.

 

Assuming you were using the USAA Visa Debit Card there WAS A FEE ON THE USAA END as the USAA Visa debit card (and Mastercard debit card replaced by the Visa debit card) has a 1% foreign transaction fee whether the withdrawal/purchase is done at an ATM, bank counter or merchant.    Each time you used the USAA Visa debit card for a Bt50,000 counter withdrawal USAA charged the 1% fee which amounts to Bt500 or almost $15.   And if you ever used the debit card in a Thai ATM there is no reimbursement by USAA which means another Bt220 fee...USAA does reimburse within the U.S.

 

Due to the 1% foreign transaction fee I only used the USAA Debit card once outside the U.S. just to confirm the card truly worked and yes, the 1% fee was  applied.   The USAA Visa Debit card (and earlier Mastercard debit card) now lives in the darkness of my safe due to it's 1% foreign transaction fee.

 

Now using no foreign transaction fee debit cards like the frequently mentioned Schwab debit card which has no foreign transaction fee is indeed fee-free on both ends.  

 

Now if you use a USAA Visa "credit card" for a cash advance there is no foreign transaction fee but a 3% cash advance fee.

 

From USAA Website regarding their Visa debit card

[Bill Miller]

I think this has been covered before, but with so many comments in this thread perhaps bears repeating.
I have direct deposit of my retirement income to a Federal Credit Union. No charge.
I can transfer funds to my Bkk Bank account via their New York branch, no charge. Usual wait is three business days. No charge for the transfer, though Bkk may have a small charge for converting USD to baht... not sure on this. 
I also have direct deposit of Social Security to Bank of the West.
Again, no charge to transfer via Bangkok Bank, NY.
If want next business day express service BOW charges $3.00, otherwise about three days.

 

Edited July 3, 2017 by Bill Miller

[Agusts]

Pib; there is also sometime a foreign exchange rate loading charge with card withdrawals,  western banks are terrible on that,  the only way to know the amount is to check the exchange rate on internet for mid-market price on the day and compare with your statement later. 

 

Also I will have to trust bank clerks very much to hand over my farang credit or debit card + passport,  they can copy all the info on the front and back of the card (which they need to process the transaction anyway),  and passport details.... They can go shopping on internet or make another cash withdrawal at their heart content - I then need to chase my bank to say it wasn't me....!?!?! 

 

 

[Pib]

3 hours ago, Bill Miller said:

I think this has been covered before, but with so many comments in this thread perhaps bears repeating.
I have direct deposit of my retirement income to a Federal Credit Union. No charge.
I can transfer funds to my Bkk Bank account via their New York branch, no charge. Usual wait is three business days. No charge for the transfer, though Bkk may have a small charge for converting USD to baht... not sure on this. 
I also have direct deposit of Social Security to Bank of the West.
Again, no charge to transfer via Bangkok Bank, NY.
If want next business day express service BOW charges $3.00, otherwise about three days.

 

 

Yes, when routing funds through Bangkok Bank NY, whether a monthly pension payment, a personal transfers, etc., two fees are applied...one fee is sliced off by the NY branch as they pass the funds along to your in-Thailand Bangkok Bank branch were another fee is applied.  Both fees are applied "before posting and do not appear anywhere on your passbook or ibanking" which fools a lot of people into thinking no fees were applied....but fees were indeed applied as shown below from the Bangkok Bank website.

 

 

[Pib]

1 hour ago, Agusts said:

Pib; there is also sometime a foreign exchange rate loading charge with card withdrawals,  western banks are terrible on that,  the only way to know the amount is to check the exchange rate on internet for mid-market price on the day and compare with your statement later. 

 

Also I will have to trust bank clerks very much to hand over my farang credit or debit card + passport,  they can copy all the info on the front and back of the card (which they need to process the transaction anyway),  and passport details.... They can go shopping on internet or make another cash withdrawal at their heart content - I then need to chase my bank to say it wasn't me....!?!?! 

 

 

No need to check the exchange rate on some FX website as debit/credit cards don't use those rates.  Just read the fees structure for the card and check the exchange rate against the appropriate card network exchange rate webpage for the exact exchange rate.

[BradinAsia]

3 hours ago, Pib said:

Assuming you were using the USAA Visa Debit Card there WAS A FEE ON THE USAA END as the USAA Visa debit card (and Mastercard debit card replaced by the Visa debit card) has a 1% foreign transaction fee whether the withdrawal/purchase is done at an ATM, bank counter or merchant.    Each time you used the USAA Visa debit card for a Bt50,000 counter withdrawal USAA charged the 1% fee which amounts to Bt500 or almost $15.   And if you ever used the debit card in a Thai ATM there is no reimbursement by USAA which means another Bt220 fee...USAA does reimburse within the U.S.

 

Due to the 1% foreign transaction fee I only used the USAA Debit card once outside the U.S. just to confirm the card truly worked and yes, the 1% fee was  applied.   The USAA Visa Debit card (and earlier Mastercard debit card) now lives in the darkness of my safe due to it's 1% foreign transaction fee.

 

Now using no foreign transaction fee debit cards like the frequently mentioned Schwab debit card which has no foreign transaction fee is indeed fee-free on both ends.  

 

Now if you use a USAA Visa "credit card" for a cash advance there is no foreign transaction fee but a 3% cash advance fee.

 

From USAA Website regarding their Visa debit card

Pib, for the transaction that I described (teller withdrawal) which I did dozens of times there was NO FEE on the USAA end nor on the Bangkok Bank

end. Also, your statement about foreign transaction fees used to be true but no longer. One of the reasons USAA gave for switching from MasterCard

to Visa was precisely to allow USAA customers too avoid the foreign transaction fees. I have a Privilege Card from Barclays Bank, but quit using it due

to the foreign transaction fees. I now use a USAA Visa credit card and a USAA ATM/debit card and neither one incurs a foreign transction fee for any

transactions that I have done for more than a year, whether an POS purchase or ATM withdrawal. I'm curious when it was that you incurred the USAA

foreign transaction fee could not have been in the last year. I don't know about "cash advance" because I have no reason to use that.

 

If you still doubt what I'm saying, here is an excerpt from an email to me from USAA in Feb 21, 2016 --

 

Dear ....  .......,

 

At this time, your USAA Rate Advantage Platinum MasterCard^® credit card ending in XXXX will be changing to a USAA Rate Advantage Visa^® Platinum

credit card. Your new Visa credit card will be in the mail in the next 7-10 days.

 

The switch to Visa is making it possible for USAA Bank to make your card even better. For example, when you start using your new Visa card abroad,

you will no longer pay any foreign transaction fees.

 

 

[Pib]

As I said in my post and as you mentioned in directly above post their Visa "credit card" no longer has a foreign transfer fee....when it was a Mastercard it did...but when switching to Visa the credit card did not have a foreign transaction fee.   

 

In your earlier post you repeatedly said several times you were  talking their USAA Visa/ATM card...that is, a "debit card" not credit card.  Their debit card has a different fee structure from their credit cards...their debit card includes a 1% foreign transaction fee...with their new Visa card as with their old Mastercard.   I posted that USAA fee structure in my earlier post.

 

Regarding your USAA '"credit card":  For your USAA Rate Advantage Platinum Mastercard "credit card" see this USAA webpage for the associated fees....0% foreign transaction fee but 3% cash advance fee.  If you do an ATM or counter withdrawal with this credit card it incurs the 3% cash advance fee....any time you are using a credit card to get cash you are obtaining a cash advance.  Partial snapshot below.

 

[Suradit69]

On 1/23/2017 at 11:40 PM, moe666 said:

Never any problem with my Bangkok Bank account and of course I do not have a ATM card, going to bank for withdrawal is inconvient but noworries about being hacked

Yes, I've had the same Bangkok Bank account for over 15 years now. Have always had an ATM card and regularly make deposits via the New York branch of Bangkok Bank. Never had any problems. The o/p's rant sounds a bit incredible.

[gemguy]

On ‎2017‎-‎01‎-‎24 at 6:38 AM, Briggsy said:

It's the girlfriend/boyfriend/girlfriend's boyfriend.

Sounds like multiple personalities at work

[nasanews]

Bangkok bank really sucks but only good for incoming international wire transfer.

[KhonKaenKowboy]

They are doing 1.5% 6 month fixed deposits now, which is more competitive than usual for them.

[nasanews]

1 hour ago, KhonKaenKowboy said:

They are doing 1.5% 6 month fixed deposits now, which is more competitive than usual for them.

So bank gives you 1.5% in order to lend your money with more interest to someone who does not have money at first.

No wonder many countries have huge debit and world stock market crashes shake us all.

[KhonKaenKowboy]

1 hour ago, nasanews said:

So bank gives you 1.5% in order to lend your money with more interest to someone who does not have money at first.

No wonder many countries have huge debit and world stock market crashes shake us all.

Apparently,Michael Moore has not covered negative interest rates. 

[Chou Anou]

Um, over 6 months later, the poster of the OP has not posted again, and people are still carrying on a heated discussion of the OP...do you think just maybe...MAYBE...this whole thing was a big troll post?

[NancyL]

Nope, I don't think it's a troll post, but I think the OP finally decided either to return to his home country or was admitted to an appropriate institution where he has limited internet access.

 

I looked at his profile.  He joined ThaiVisa in November 2015 and was last active in January this year.  During his time of membership he contributed to posts about credit card skimming, elderly men getting drugged and robbed by Thai women, a Malaysian being busted with many fake credit cards, etc.  Plus several references to his own problems with Bangkok Bank.

 

He came here for retirement and seemed to be having problems managing his money, probably compounded by some of the local people he associated with.