The joys of the Thai banking "system"

For those who use Bank of Ayudhya (aka. Krungsri Bank) to top up your boyfriend's account remotely (BoA is one of the few that will give Internet banking access to foreigners without a work permit - which, by the way, is against the banking regulations) there's bad news:
Dear KrungsriOnline Customer,
Subject The halt of third party fund transfer for System Enhancement

In order to improve our service on fund transfer to third party, please be informed that this service will b! e temporarily suspended including scheduled third party fund transfer. The service will be resumed in October 2007. If you wish to make a third party fund transfer, Bank of AyudhyaтАЩs ATM is an alternative channel available to serve you.

For more details, please contact the Electronic Banking Operations Department at Tel. (+66) 02-296-3333 (during banking hours 8.30 a.m.- 5.30 p.m.) or contact Krungsri Call Center 1572 (Outside Thailand, call 662-296-2000 and press 1572) or email: 'krungsrionline@krungsri.com'.

We apologize for any inconvenience caused by this. We would like to take this opportunity to express our sincere thanks for your support and trust in our Internet Banking services.

Yours sincerely,
Bank of Ayudhya PCL.

[IEB2004-old]

I found with most Thai banks trying to open an account without a work permit impossible, but then I discovered Kasikorn Bank. With Kasikorn Bank I only needed a passport to open a savings account. Their savings account came with a passbook, ATM card and Internet banking set up within 24 hours. In Bangkok the Paragon branch is open 7 days a week and I think most evenings.

[Smiles]

" ... I found with most Thai banks trying to open an account without a work permit impossible ... "
Are you sure you don't mean the 'internet banking' option, rather than a Thai bank account itself?

One of the requirements for renewal of the 12 month Retirement Visa every year is that the applicant have a Thai bank account with enough cash in it to equal 800,000 baht ... or at least enough to add to an annual income equal 800,000 baht. Normally a retired person would not have, or need, a work permit ... so why would it be such a hassle to simply open an account.
I know of many farang (most from this Board) who have opened Thai bank accounts with few problems.

Cheers ...

well....it is a hassle and a catch 22 Smiles.

In April, I tried to open an account at Bangkok Bank at the main office on Silom. "NO" was the response......"you need a work permit."

The went to Kasikorn Bank. The person said the same thing as Bangkok Bank. BUT...luckily I had an email from Kasikorn Bank Customer Services....saying I only needed my Passport and 500 baht. Showed them the email....and finally, not to their liking, they allowed me to open an savings account (with internet banking). I think it is very much a matter of who you talk to at the respective bank and their mood. Did they get laid the night before? Are they constipated? Did they have a good lunch? Is it a blue moon? Hight tide? ....and on it goes.

[alipatt-old]

I opened an account in New Zealand and took the ATM card with me to Thailand - I can now put money in that account to be withdrawn from Thailand. A much cheaper way of remitting funds

I found with most Thai banks trying to open an account without a work permit impossible, but then I discovered Kasikorn Bank. With Kasikorn Bank I only needed a passport to open a savings account. Their savings account came with a passbook, ATM card and Internet banking set up within 24 hours. In Bangkok the Paragon branch is open 7 days a week and I think most evenings.

Any commercial bank will open bank account for you.

Siam Commercial bank will issue a bank book and give you an ATM card including eVisa debit card right on the spot. Just show your passport.

The same is wich TMB which might have the best internet facilities presently.

Bangkok Bank is as good as Kasikorn Bank or Khrung Thai Bank.

Gov Housing Bank or some other soecial banks will not work well for foreigners but opening a joint account withyour Thai friend is no problem.

[globalwanderer]

I found with most Thai banks trying to open an account without a work permit impossible, but then I discovered Kasikorn Bank. With Kasikorn Bank I only needed a passport to open a savings account. Their savings account came with a passbook, ATM card and Internet banking set up within 24 hours. In Bangkok the Paragon branch is open 7 days a week and I think most evenings.

Any commercial bank will open bank account for you.

Siam Commercial bank will issue a bank book and give you an ATM card including eVisa debit card right on the spot. Just show your passport.

The same is wich TMB which might have the best internet facilities presently.

Bangkok Bank is as good as Kasikorn Bank or Khrung Thai Bank.

Gov Housing Bank or some other soecial banks will not work well for foreigners but opening a joint account withyour Thai friend is no problem.

tried many baks

kaisikorn the most friendlt, Bangkok Bank wanted a Thai to guarantee me... TMB would not even entertain an account unless i turned up proving i was buying a 5 million baht plus condo or house..... kaisakorn were also the friendliest of them all

[Geezer]

I opened saving accounts with internet access and ATM cards with only a тАЬretirement visaтАЭ at Krung Thai Bank on South Pattaya Rd. (Wat Chi), Kasikorn Bank on South Pattaya Rd., and Bank of BKK on Second Rd. near GregтАЩs Kitchen.

No one familiar with Thailand expects consistency. If at first you donтАЩt succeed try another bank, another branch, another employee, another day. Dress respectably, and wear clean underwear. In each case my BF took care of everything. I just sat there, smiled and signed my name until my hand cramped.

Actually these accounts may only be opened during months which contain the letter тАЬRтАЭ.

. Dress respectably, and wear clean underwear.

тАЭ.

Cheeky buggers, they check your underwear! I'm with Krung Thai, They never asked me to do that!

[IEB2004-old]

I decided in July 2007 to open a Thai bank account. First, I tried Bangkok Bank, headquarters I think, on Silom Rd. After a very long wait I was asked for a passport and then a work visa. I explained that I was on a tourist visa and showed them the stamp in my passport, I use 'them' because more than one employee was involved in the issue. I was told sorry, you must have a working permit.

I then tried Bank of Ayudhya in Charn Issara on Rama 4. Same story, no work permit, no Thai bank account. Next, I went to Bank of Ayudhya on Soi Convent, because I read other foreigners had opened accounts in that branch, no luck there either.

Siam Commercial Bank in Thanaya Plaza was my next attempt, but failed again because of no work permit. I should note that in each bank my request to open an account involved several employees and much discussion among them.

Then, I went to the Phat Phong branch of Kasikorn Bank on Suriwong Rd, no problem, Thai savings account opened instantly with a required deposit of 500 baht. Within 24 hours I could access that account on-line. I did, however, have to sign and initial many documents.

I decided to move my account to the Paragon branch, downstairs in Siam Paragon, because of ease of use with greater opening hours. So, off I went and after signing my name again many times I left with a second Thai savings account, an Visa Debit ATM card, and signed up for Internet access for account number 2. I have also found the K-contact center, Kasikorn's telephone help line, to be excellent. Their employees are very helpful. I have heard from some Thai friends that Kasikorn has the most up to date computer system of any Thai bank, and so despite warnings about problems with using different branches of a bank I have to report I found Kasikorn very easy to use at any branch for depositing money, withdrawing money, updating my savings account books, etc., both manually, if you want to wait in a line, or electronically at one of their many machines.

One warning, when I asked about closing my Phat Phong account, because I only wanted one account, I was told that if that account remains inactive for one year it will be automatically closed! I then decided to keep both accounts open, because if for some reason I do not get to Thailand for a year, which is very unlikely, I can simply transfer funds back and forth from one account to the other thus keeping both active.

By the way one reason for opening a Thai account was to be able to transfer funds to Thailand if and when the exchange rate improves.

I hope this information is of some use for anyone trying to open a Thai bank account.

[Wesley]

Did I understand correctly that you do not live there but want a bank account there, and if so why? Just interested as to why you would think it was a good idea to hold a Thai account if you have only a Tourist visa. Its hard to imagine you were able to open an account for on such a visa at all, especially if you think there would be a possibility you would not be back in a year. I assume it was not for a large amount of money. I generally don;t keep much on forgein accounts since one bank failed with my money in it. I was lucky enough to get back most of it but had to operate out of another country for some time before the situation stabilized. This was in the years of 1999 and 2000.

Wesley

[krobbie]

I opened an account in New Zealand and took the ATM card with me to Thailand - I can now put money in that account to be withdrawn from Thailand. A much cheaper way of remitting funds

I currently have to go through a monthly transfer from my NZ account to my bf's account in Loei (BKK Bank) for which I pay handsomely each month.

How did you open an account in Thailand from New Zealand? It would make my life easier. Are you able to transfer money from a NZ bank account to your Thai bank account. If so what is the charge?

Any info you could provide ... happily recieved.

Thanks.

[Bob]

I previously had an account with Bangkok Bank but closed it because they wouldn't let me use the internet features without a work permit.
I've ended up at Siam Commercial Bank and it's worked great (opened up the account on a tourist visa). My bf has an account at the same bank and I've got my account set up so that I can transfer monies from my account to his using the internet. This transfer privilege is free. My account is based in a Chiang Mai branch and comes with an ATM which I can use without charge in Chiang Mai province. If I use it elsewhere, there's (if I remember right) a 50 baht charge.
To top off my account, I wire funds directly to my SCB account from my US bank. My local bank charges me $40.00 for the wire (regardless of amount) so I only do it once a year or so. If and when my local US bank will let me wire funds to my SCB account using the internet only, then I'll have everything I need.

[Smiles]

" ... My bf has an account at the same bank and I've got my account set up so that I can transfer monies from my account to his using the internet. ... "
... and does it work the other way? :cheers: :cheers: :cheers:

Cheers ...

[krobbie]

Yeah right! That'll happen.

[Bob]

" ... My bf has an account at the same bank and I've got my account set up so that I can transfer monies from my account to his using the internet. ... "
... and does it work the other way? :cheers: :cheers: :cheers:

Cheers ...


Hmmm.....Well, since he hasn't won the lotto yet or friggin' graduated from the university (he was to finish this year but then switched majors just before the current semester so it's likely 2-3 years still to go ........oh gawd!), it's been a one-way street so far. You know how to hurt a guy, Smiles....... :cyclopsani:

Edit: Now that I think of it, you're beloved has a good job. How much does it cost him to transfer funds to your account? Lol.

[krobbie]

Let's face it. We all have an option ... pay or don't pay.

Me, I'm happy to support the bf. I'm no rich bastard either. My guy is doing further education as his bar job just wasn't an option for me. If we interfere in peoples lives, we better be ready to assist in the money shortfall.

In most cases the guys are working the bars until some respectable farang turns up who genuinely feels for them. From that moment on lives change. Ours and theirs. Hopefully in the main, everybody wins.

This is a fairly biased insight which is susceptible to change ... as do relationships. There's a lot of hope and trust on our part but that's what makes us human I guess. That and the ability to accessorise handbags with shoes of course.

Cheers

[krobbie]

Sorry ... I seem to have strayed from the question at hand. The Thai banking system.

On with the show.

I opened saving accounts with internet access and ATM cards with only a тАЬretirement visaтАЭ at Krung Thai Bank on South Pattaya Rd. (Wat Chi), Kasikorn Bank on South Pattaya Rd., and Bank of BKK on Second Rd. near GregтАЩs Kitchen.

No one familiar with Thailand expects consistency. If at first you donтАЩt succeed try another bank, another branch, another employee, another day. Dress respectably, and wear clean underwear. In each case my BF took care of everything. I just sat there, smiled and signed my name until my hand cramped.

Actually these accounts may only be opened during months which contain the letter тАЬRтАЭ.

Respectably dressed? Would that mean no wide, wide, wide brim hat in the bank premises?

[krobbie]

I opened saving accounts with internet access and ATM cards with only a тАЬretirement visaтАЭ at Krung Thai Bank on South Pattaya Rd. (Wat Chi), Kasikorn Bank on South Pattaya Rd., and Bank of BKK on Second Rd. near GregтАЩs Kitchen.

No one familiar with Thailand expects consistency. If at first you donтАЩt succeed try another bank, another branch, another employee, another day. Dress respectably, and wear clean underwear. In each case my BF took care of everything. I just sat there, smiled and signed my name until my hand cramped.

Actually these accounts may only be opened during months which contain the letter тАЬRтАЭ.

Respectably dressed? Would that mean no wide, wide, wide brim hat in the bank premises?

I think perhaps it's less about brim size than lessening the amount of flowers around the crown. Just a thought.

I like your posts already. Keep it up. And that's NOT sexual harassment.

I like your posts already. Keep it up. And that's NOT sexual harassment.


Boogyman,

You've hurt me, don't you like my posts!

[Hmmm]

I opened an account in New Zealand and took the ATM card with me to Thailand - I can now put money in that account to be withdrawn from Thailand. A much cheaper way of remitting funds

I currently have to go through a monthly transfer from my NZ account to my bf's account in Loei (BKK Bank) for which I pay handsomely each month.

How did you open an account in Thailand from New Zealand? It would make my life easier. Are you able to transfer money from a NZ bank account to your Thai bank account. If so what is the charge?

Any info you could provide ... happily recieved.

Thanks.

I believe that alipatt is referring to a technique that many of us have used to send money to Thai friends when we are not in Thailand. You open a low-cost or zero-cost account with one of your home country's banks, and then give the ATM card and PIN number to your Thai friend. Ideally such accounts are not linked to any of your other accounts ! You transfer money into the account, for example from another bank account via the internet. Then it can be withdrawn from an ATM in Thailand, usually for a small fee (eg < 200 baht).

[Geezer]

тАЬRespectably dressed? Would that mean no wide, wide, wide brim hat in the bank premises?тАЭ


OK. I guess we can strike out the тАЬRespectably dressedтАЭ part

Actually, I think the hat and the goofy clodhoppers may have helped in opening three accounts with no hassle. The bank managers saw they had a wild eccentric on thier hands, and wanted to get rid of him as quietly as possible.

Recently was in that bank building and saw a uniformed man standing near the steel shutter drop down door. He actually had his hand on the pull cord. Being a naturally curious gentleman I asked him about this.
Not being as proficient in English as I am in Thai, he replied in a low whisper to me, "big hat."

Bangkok Bank realizes you must have an account to deposit your 800,000 baht in for retirement VISA purposes. I was given a form at the Silom branch that needs to be filled out (either by your home bank or by a respectable Thai friend ... sorry, moneyboys don't count). It's basically a form vouching for your good "standing". The other person is not signing a monetary quarantee. I don't believe this account includes any ATM or Internet banking capabilities.
As to giving your BF an ATM card. The only one I could find that charges no "ATM" withdrawel fees, has NO "foreign currency exchange percentage", and even refunds any charges from the Bank of the ATM used, is BankofInternet, based in San Diego Ca. You just have to be sure and specify you want an ATM ONLY card, or they will automatically send you a VISA Bank Card (Something You DON"T want to give your thai BF). It works great. I just make small deposits (through the mail) when I need to top it off.

Yes, yes, I do like your posts. Sorry for not saying so. Wait a minute. There was that time you disagreed with one of my posts. Hmmmmm.

[krobbie]

Yes, yes, I do like your posts. Sorry for not saying so. Wait a minute. There was that time you disagreed with one of my posts. Hmmmmm.

Boogyman ... you're obviously in the diplomatic corps.

Diplomacy is the weakest of my characteristics, or at least it has been all my life.
Perhaps I have been reborn without expiring?