Banking and Internet banking

This is a perennial topic but I thought an update based on my experiences today was worthwhile. The current mem'sahib and I popped into the Bank of Ayudhya sub-branch in Q House on Covent Rd to transact some business for him. The exceedingly handsome bank worker was very obliging but spoke little English. (I suspect that if someone is prepared to put in a little effort he might be willing to share the treasures he has in his vault. But I digress). He assured me that all I need to open an account is my passport (no visa status mentioned) and all I need to access Internet banking is an account. This seems borne out by the Web site - http://www.krungsri.com/eng/online_service_kol.htm

Like all Thai banks, it suffers from not being able to transfer money to another Thai bank eg. Bangkok Bank, but at least it's a start for those who want a bank account in Thailand with Internet banking access. In contrast, Bangkok Bank still shows this warning: "Only foreign nationals with a resident Baht account holding a non-immigrant visa along with a valid work permit or certificate of residence are eligible to apply for Bualuang iBanking"

I found the SCB sub branch in Tukcom Pattaya most helpful also. Opened an account and got internet access with just a passport, no visa requirement at all.
Through the ATM card i can transfer money to any ( i think) other Thai bank without any preset arrangments. It also gives on-line instant confirmation of the account holders name.

Just a word of caution. Many of us with Western banks are used to the bank standing the cost of any illegal or fraudulent useage. This does not seem to apply to ATM cards or Credit cards in Thailand. Friends swear blind that they did not give their guys the pin number but they manage to get into the account?

It is also worth checking that the 24 hour telephone number to report lost or stolen cards is 24/7/. Friends had cards hidden in their house and the pin numbers secreted elsewhere. Foolish or not a burglar got them. They phoned the 24 hour lost card only to find that it was not attended over the weekend. This gave the thief three days to max out the ATM cards at 20,000 baht each day. The bank were not helpful.

[Boxer]

Good reminder Wowpow more than one case last year of this trick. Hence you open two accounts one for day to day living low balances in it then the other account for your main money and keep that very well secured and no one know about it. You go online banking and transfer just enough say for two weeks at a time. If it is lost it is only a small amount. Problem solved?

Criminals can be very good at spotting your ATM passcode as you enter it, then waiting until the right time to grab the card later. It's especially easy when you're drunk and slow moving, as many of you probably are most of the time.

Boxer is right... Having a second checking account with a separate ATM (Preferably one that in ATM only, not a VISA Checkcard) is the best way to go. I can go online anytime and transfer smaller amounts of money as needed. Also a good way to provide money to your BF. You can leave him this ATM card and only transfer the amount you want him to have, as you see fit.

As far as a tourist (non-resident) getting an savings/ATM account at all.. it seems very hit and miss. My friend had no problem getting one at the Silom Branch of Bangkok Bank last April with only his passport. But when I tried at the same branch in June, I was give a big NO. And was handed a form (in thai) that I would have to get signed by someone of "good standing" to vouch for me, or have my US Bank wire a confirmation of my account in the US. My friend also opened another account at Kasikorn Bank in Chiang Mai the same month.. again no problems.

I will try again in december and see what happens.

I use the same system...two bank accounts, one for small money withdrawals the other for my main money account.

Pardon my paranoia, but two other things to make precautions about:

1. Ask for NO overdraft privileges on your small money account. My bank automatically gives me $1,000 overdraft privileges, so I had to ask specifically for NO such privileges since a person can withdraw beyond the limit of the account if there is an overdraft privilege

2. When you do your on-line banking, be sure you're using a reliable internet cafe. Some secret software make it possible to copy account numbers and passwords so that someone else can make merry with your moolah.

Happy free-spending, folks

[Boxer]

If your using an Internet Cafe if you are allowed to when finished go to Start, then Control Panel, then Internet Options. Delete History, Cookies and Temporary Files to help stop copying.

[bkkguy]

2. When you do your on-line banking, be sure you're using a reliable internet cafe.

if you are going to all this trouble to have a low value account but then are doing internet banking at an internet cafe then I think you need to seriously rethink your false sense of security

you should never be using an account or password that you are not willing to have compromised at a publically accessible terminal anywhere - internat cafe, library, hotel business center, etc!

the same applies to using your own computer connected to insecure public network access points eg wi-fi hotspots, hotels, airports, etc unless the transmission is encrypted

bkkguy

That's the primary reason why Thai banks' internet banking systems don't allow transfers to third parties without prior arrangements.

[Hmmm]

If you really must use public terminals or wireless networks for anything vaguely sensitive, at least carry a USB stick from which you can run the the necessary tools, all of which are free:

* Password encryption, storage and entry tool (defeats keyloggers):
http://www.roboform.com/pass2go.html

* Portable Firefox (keep browsing history, cookies, etc to yourself), or Torpark (portable Firefox plus encryption) if you really want to obscure your tracks. Torpark will also beat any attempts to block access to web sites. The techniques it uses are necessarily slow though, sometimes very slow.
http://portableapps.com/apps/internet/firefox_portable
http://www.torrify.com/

Use of your own wireless laptop offers some security advantages, unless someone intercepts the transmission (Torpark protects against this by encrypting it).

Have not most of the banks done stuff to prevent anyone picking up ones pin numbers from a computer? My Citibank throws up a little typrewriter onscreen for you to enter. Nationwide just ask for 3 numbers from your pin e.g. 1st 2nd 5th.

IMO using internet cafe or other publicly used internet access for sensitive business should be avoided at all costs. However, if one must, then the suggestion regarding memory sticks is good. But, what if you do not have a memory stick or the computer you are using does not have a readily accessible USB port? One possibility to avoid software that records keystrokes is to disguise the information - this can be done by using notepad and entering a string of text or gibberish within which you bury your sensitive information, e.g. username, password, etc. Once completed, use the mouse to highlight the sensitive information, right click and select copy, go to the appropriate box in your log on screen, right click and select paste. Also, as mentioned, delete your history, etc. and then be sure to empty the recycle bin.

[Boxer]

That's the primary reason why Thai banks' internet banking systems don't allow transfers to third parties without prior arrangements.
From Boy...

Not sure what you refer to as I am with Kasikorn E Bank on internet and I can transfer cash to third party accounts in my Bank and others via Internet or ATM without prior reference to any Branch.
Kasikorn have also introduced a second Security level where they SMS you a pass number for each transaction to your phone you then confirm it online within the 5 minutes allowed and it comes almost immediately.

Is there any bank in Thailand that I can register for from where I am now? I am looking for Thai baht, US$ and Euro accounts I can trade currencies in and link to my other accounts. What are interest rates like? Any help you gentlemen could give would be such a help.

[Brad the Impala]

Is there any bank in Thailand that I can register for from where I am now? I am looking for Thai baht, US$ and Euro accounts I can trade currencies in and link to my other accounts. What are interest rates like? Any help you gentlemen could give would be such a help.

If you are looking to trade multiple currencies, I would have thought that opening an account would be the easy part! Where are you now? Try checking to see if there is a Thai Bank with a branch in your country. If you are linking to your other accounts, did you ask your bank?

Once completed, use the mouse to highlight the sensitive information, right click and select copy, go to the appropriate box in your log on screen, right click and select paste.

Except that most keyloggers also log the clipboard!

It is pretty easy for the guy in front of you at a public terminal to download, install, run and setup up a spy program to email him your keystrokes, in just a few minutes. I just did it to myself (to remind me of all this).

To be real safe generate the text/numbers in the notepad file then cut and paste bits of it, at least 3 pieces, into the pword form and mix in some typed characters. Yes, u can paste characters into the middle of the *****'s.

And in fact, the more I look at it, the logs KB and CB logs together CAN still be deciphered!

Uggh.

Newbie's workin' on his USB U3 as we speak! THX for further leads Hmmmm.

I think I'll stay away from internet banking for a while!

Nationwide internet banking facilites seem (so far thank god) to be quite secure. The sign on page requires you first to use keystrokes to enter the customer number and memorable data and then you use the mouse pad to click on a three digit number (avoiding the tell tale keystokes that can be tracked by others). Further, the three digit number is actually a variant of a six digit number you keep in your head (or other useless place) and the sign in page asks you for this number in varying combinations so that each time you enter the site, you are asked for the number in a different combination - sounds complicated but works very well.

I have not tried transferring money to a Thai bank (yet) but have no problem in transferring monies between uk accounts and paying my bills and credit card over the net.

UK First Direct - part of HSBS - announced today a charge of ┬г10 a month for a current account unless you keep ┬г1500 or have a mortgage or loan with the bank. Watch out for customers leaving in droves. I banked with them via Midland Bank which they bought for over 40 years and when I left I just rang up and asked to close my, previously substantial, account and the girl said "Thank you Sir is there anything else I can help you with today?"

I was sad as somehow I had liked them and thought that they valued me - OK I ignored the evidence of increasing remoteness and charges but remember going to the bank with my papa and the Manager always came forward to shake his hand and say "How do you do". Tempus Fuckit.

Fatman Nationwide offer transfers by SWIFT at ┬г20 for any amount. You can dowload the application form but they want it by post now. Previously one could fax it to them.