Thai bank accounts

[blacknight 5]

Hi all, on my next visit to LOS I intend opening a Thai bank account and keep money in it for emergencies etc. I was wondering if any of the Ex-pat BMs could advise me on the best way to go considering the following:

 

1. Ease of intial set up. What documentation do you require and does this differ from bank to bank? I have tried a couple of bank website and they seem to make out it is pretty complicated.

 

2. Best availability of ATMs, like for example the LINK system in the UK where you can use other banks ATM without charge. This should also take into account ease of use in other parts of Thailand not just Pattaya.

 

3. Highest daily withdrawal amount and if available built in visa transfer for use in supermarket/mall paying electronically.

 

4. Ease of transfering funds from UK bank account to Thai bank.

 

5. Quickness in issuing the relevant cards, although I do appreciate it is Thailand.

 

6. Finally best interest rate although this is not so important as there would only be up to maybe 150000thb in the account at most.

 

I would be extremely grateful for any help on this matter.

 

Graham

[FatherMojo 2]

Hey BK,

 

I do not have all the answers but here are a few...

 

1. Ease of intial set up. What documentation do you require and does this differ from bank to bank? I have tried a couple of bank website and they seem to make out it is pretty complicated.

I used Kasikorn Bank near Tuk Com in Pattaya. Just my passport and hotel address. Total time to set it up was less than 15~20min.

 

 

2. Best availability of ATMs, like for example the LINK system in the UK where you can use other banks ATM without charge. This should also take into account ease of use in other parts of Thailand not just Pattaya.

Not sure as I have not traveled far and wide through Thailand.

 

 

3. Highest daily withdrawal amount and if available built in visa transfer for use in supermarket/mall paying electronically.

I'm a small potato and anything about 7~10k would be enough for me.

 

 

4. Ease of transfering funds from UK bank account to Thai bank.

That should be a snap as when setting up the account they gave me the swift code along with my account name on a seperate piece of paper. If you wish to practice sending money, I can provide you with my bank details.

 

 

5. Quickness in issuing the relevant cards, although I do appreciate it is Thailand.

The ATM card was done straight away. Note that my name was not embossed on the card. Not sure if that makes a difference with you or not.

 

6. Finally best interest rate although this is not so important as there would only be up to maybe 150000thb in the account at most.

No idea.... Like I said, I am just a small potato.

 

FatherMojo

[sinkorswim 80]

I have an account with bangkok bank. very easy to open with your passport and address. The do have a fixed interest account that pays over 4% interest BUT you do need to give them 3 months notice to withdraw from the account. Otherwise the rate is something silly like 0.34%

 

Hope this helps

[jacko 8,827]

I have an account with bangkok bank. very easy to open with your passport and address. The do have a fixed interest account that pays over 4% interest BUT you do need to give them 3 months notice to withdraw from the account. Otherwise the rate is something silly like 0.34%

 

Hope this helps

I think the fixed interest account is actually a fixed term deposit. Three or 6 months and you cannot withdraw...just got the GF to transfer her (my old) money into one and out of the account paying about 0.3% p.a.

 

I like the Bangkok Bank here in Pattaya, but that might be because the guy who changes my traveler's cheques speaks great English and is super nice and helful.

[MrMango 672]

The Ex-Pats club that meets on Sunday at Bean's sometimes has the Bangkok Bank there to open a account. My TW and I did this, and with a minimum of 1,000 Baht, we opened an account, and received our ATM in about a week.

All we needed was our passports and a address.

[Soi7 1]

Bangkok bank had a Promo 5.125% on a 10 Month CD. I dumped a bunch in there. A week lated TMB had a 1 year at 5.375%. I believe you needed a Non Imm Visa to get this rates

[antony_pattaya_555 0]

I opened a saving account at the Bangkok Bank.

 

Very easy to open (Passport) and I have a Visa card with my account.

 

I managed to wire money on my saving account without problem from France.

 

I am very pleased with the bank.

 

My visa card was stolen when sleeping in my hotel during my last trip and managed to have it cancelled without difficulty. To get a new one the same day, I should have paid 300 bath otherwise it was free.

 

So I recommend this bank. It's a stated owned bank with very good currency rates.

[blacknight 5]

Thanks for the info gents, its given me a starter for when I arrive. I keep meaning to get allong to the Ex-Pats club as it is a good way of gain valuble info but as its early in morning I have always failed to date.

 

Thanks again.

 

[som nam na 0]

Bangkok bank had a Promo 5.125% on a 10 Month CD. I dumped a bunch in there. A week lated TMB had a 1 year at 5.375%. I believe you needed a Non Imm Visa to get this rates

at your monthly spend the interest per year on 5 mil THB is more than enough

[MrMango 672]

Thanks for the info gents, its given me a starter for when I arrive. I keep meaning to get allong to the Ex-Pats club as it is a good way of gain valuble info but as its early in morning I have always failed to date.

 

Thanks again.

 

I was not singing the praises of the Ex-Pats club - A bunch of old farts with guests speaking on the number of wings that a fly has - Very boring, but some of the info is good.

 

Check out their web site and newsletter to find out who is at the meeting before you go.

[Soi7 1]

at your monthly spend the interest per year on 5 mil THB is more than enough

It is a Promo though so after the 10 Month term who knows what they will offer ?

[Gonzo 419]

I was not singing the praises of the Ex-Pats club - A bunch of old farts with guests speaking on the number of wings that a fly has - Very boring, but some of the info is good.

 

Check out their web site and newsletter to find out who is at the meeting before you go.

One should not knock the Expats Clubs at the Grand Sole at 11 Am on Sunday mornings. It can be boring at times but I learned a hell of a lot when members or guest speakers gave some excellent advice.

[MrMango 672]

One should not knock the Expats Clubs at the Grand Sole at 11 Am on Sunday mornings. It can be boring at times but I learned a hell of a lot when members or guest speakers gave some excellent advice.

I did not mean to knock them totally, it's just that some of their guests topics are bizarre.

[Soi7 1]

I did not mean to knock them totally, it's just that some of their guests topics are bizarre.

They do scrape the bottom of the Barrel for some of there topics

[Gonzo 419]

I did not mean to knock them totally, it's just that some of their guests topics are bizarre.

I have to agree with you. Not so long ago they had a bloke raving on about the probability of human life on other planets and star systems. I don’t like to be rude but I left early. Like I said before, you have to take the bad with the good.

 

The wife won one of the door prizes the other week, a dinner for two at the Premiership Football Restaurant & Bar in Soi Diana Inn. We had an excellent Sirloin Steak with mushroom sauce and salad, one of the best meals I have had for a while.

[jacko 8,827]

One should not knock the Expats Clubs at the Grand Sole at 11 Am on Sunday mornings. It can be boring at times but I learned a hell of a lot when members or guest speakers gave some excellent advice.

I go regularly and after a few visits the repetition can be a bit tiresome.....the information for 1st time visitors being repeated every meeting. Waffled on last week about how to get from Bangkok to Pattaya.....

 

My neighbour says he will be doing a presentation on his business there soon.....on waterbeds...yeah I'll set the alarm for that one!

 

Best was a dull presentation by a sausage shop......

 

But then they had a free buffet of their products....

 

Whatever you need to know about settling in LOS can be answered here.

Edited July 27, 2006 by jacko

[ekeheley 0]

My 2 cents worth, (actually 2 1/2 cents worth, which would be about one baht), (smile.)

I opened my account in Jan., this yr. at BKK Bank, at Carrefour on Pattaya Klang Rd.,(Pattaya Central Rd,). My first deposit was in cash, which I had brought with me.

Before I Left the US I talked to my bank, Citibank, and more or less set up the machinery to transfer, on line, funds from my Citi acct. to my Bkk bank acct.. Since I was coming over on a NI-O 90 day visa, and intended to extend it at the proper time,

I needed the ability to "TT" (known as a "SWIFT" transfer), funds from my US acct. to my BKK acct., to bring up my balance to qualify me for a visa extension. (the funds have to come from outside Thailand). The sweet little teller behind the counter gave me a pre-printed form with all the information I needed to transfer funds as needed, including my account number at BKK Bank.

Most any of the banks will do this for you, the only reason I chose the Carrefour branch of BKK bank is because it's handy, convenient if you're shopping, and has two ATM machines upstairs where the store is and an exchange booth downstairs, next to the food court. BKK bank charges 20 baht if you use an ATM other than their own, otherwise there's no charge for ATM use, and the limit, I believe, is 10,000 baht per transaction, but if you need more, and it worked for me, you just stick your card back in and get whatever more you need.

To transfer (SWIFT) funds from my Citibank acct. in California to my BKK acct. in Pattaya, the cost is $30.00 per transfer, regardless of the size, and in all three times I've transferred it was in my Bkk acct. the next day, (except week-ends).

The Carrefour branch in Pattaya is a two-teller, small branch, but I have seldom found a long line, and the two employees, one man and one lady, are very nice and helpful. Hope this helps someone....ErnieK

[Eneukman 1]

I have to agree with you. Not so long ago they had a bloke raving on about the probability of human life on other planets and star systems. I don’t like to be rude but I left early. Like I said before, you have to take the bad with the good.

 

The wife won one of the door prizes the other week, a dinner for two at the Premiership Football Restaurant & Bar in Soi Diana Inn. We had an excellent Sirloin Steak with mushroom sauce and salad, one of the best meals I have had for a while.

Gonzo, you are talking about the Pattaya Ex-Pats Club. MrMango is talking about the Pattaya CITY Ex-Pats Club. The City Ex-Pats Club is a breakaway from the Ex-Pats Club. I don't know why the Club split in two as this was before I came to live in Pattaya.

 

Alan

[Gonzo 419]

Gonzo, you are talking about the Pattaya Ex-Pats Club. MrMango is talking about the Pattaya CITY Ex-Pats Club. The City Ex-Pats Club is a breakaway from the Ex-Pats Club. I don't know why the Club split in two as this was before I came to live in Pattaya.

 

Alan

Thanks for that. I joined the Pattaya Expats Club more than a year ago and their meetings are held at the Grand Sole Hotel on Second Road every Sunday morning at 11 AM. I actually enjoy going there and have made a few friends as well. My Thai partner likes going there as well, and she seems to be fascinated how Farangs interact with each other despite not being able to understand a great deal of what is being said.

 

Things can be repetitious, but I especially like it when there are Thais trying to explain things from their perspective. I just love that Thai motped driver (I cannot think of his name) and his spin on life. He might be a simple person but I am impressed by that man's integrity. Cheers

 

Sigi