Opening a Thai bank account as of 16/09/2010

[Bazle 1,480]

Care to elaborate.

You will never think you are getting the best rate. Jacko is absolutely correct.

 

You see the rate going up so think you will hang on before exchanging your cash. It is only the next day when the rate goes down that you realise you have just missed the "best" rate.

[jacko 8,813]

Care to elaborate.

Also the simple fact that the best 'rate' is never the cash one!

Plenty of discussion on that on this board.... over about £2k works out better where the originating bank costs (£15-25) and receiving bank costs (500baht) are covered by the 0.7 baht/£ more you get.

[Irish boy 67]

Also the simple fact that the best 'rate' is never the cash one!

Plenty of discussion on that on this board.... over about £2k works out better where the originating bank costs (£15-25) and receiving bank costs (500baht) are covered by the 0.7 baht/£ more you get.

 

I understand that, that's why i used to only use the NW Card and get the 'International' rate, and will be doing that when i arrive 27th Oct, before it goes up on Nov 1st.

 

But i still prefer to bring cash from now on, then i'm more in control of when i want to change it. But i do understand what you're saying.

 

I'm hoping to do a full year next time, a substancial ammount will be sent over to my Kasikorn before i leave. In those sort of ammounts, the 7% or whatever it is, makes a difference.

[Anfield 8]

If you bank at Halifax and do a transfer on line the charge was £9.50 in August when I sent some money to my Kaiskorn account

In branch the charge is £19.50 ( I think)

[jacko 8,813]

I understand that, that's why i used to only use the NW Card and get the 'International' rate, and will be doing that when i arrive 27th Oct, before it goes up on Nov 1st.

 

But i still prefer to bring cash from now on, then i'm more in control of when i want to change it. But i do understand what you're saying.

 

I'm hoping to do a full year next time, a substancial ammount will be sent over to my Kasikorn before i leave. In those sort of ammounts, the 7% or whatever it is, makes a difference.

You will of course be hit by the 150 baht foreign ATM card tax using your card. So have a high limit and find machines that allow you to get most out, my Bangkok bank lets me get 25k, whereas I was once limited in a SCB machine.

I alway deter cash carrying, a thief or absent mindedness can ruin your holiday, no refunds on cash loss!

Travellers cheques offer your 'control' and protection against theft/loss, and if bought commission free offer a good overall rate.

 

I am not particularly hurting for the coppers one saves using particular international cash transfer methods, but I like to support the cheaper ones!

[englishinsiam 15]

anybody know what uk banks charge to tranfer money in to a thai bank?

 

 

All UK banks make a charge for International transfers. Also you don't necessarily get the best rate.

 

I always use Currency Exchange Companies.

 

I do a free Bacs payment online from my Natwest account to either

 

www.worldwidecurrencies.com (They have a £500 minimum but no fees)

 

www.smartcurrencies.com (Over £3,000 free under is £20 charge)

 

If I transfer over £3,000 I usually find Smart give a little better than WWC.

 

It's in my Thai account between 3-5 working days after it leaves my English account and I get a better rate than Natwest offer me.

[papillon 695]

........ I will close the Flex account and sod Nationwide.

I only opened that account for the free International ATM withdrawals. (advice I got from this very board)

I received my replacement Flex Account 'Cash Cards' last week.

 

NO CASH WITHDRAWALS ALLOWED FROM ATMs ABROAD.

 

Fuck that! Chopped them in half and binned them. Very soon my Nationwide accounts will be having a zero balance

[The_Fat_Controller 25]

All UK banks make a charge for International transfers. Also you don't necessarily get the best rate.

 

There lies your problem, NEVER let a UK bank make the exchange.

 

Send your money in STERLING and let the receiving Thai bank convert.

 

The currency exchange companies always take their share, if it is not a discrete charge it will be incorporated into the rate.

[ricosuave 130]

I received my replacement Flex Account 'Cash Cards' last week.

 

NO CASH WITHDRAWALS ALLOWED FROM ATMs ABROAD.

 

Fuck that! Chopped them in half and binned them. Very soon my Nationwide accounts will be having a zero balance

 

I've been following this thread with interest, my Nationwide Flex Account has a positive balance of 1p.

 

They can keep sending me statements every month forever for the inconvienience of me having to fanny about with a new method of getting my pussy vouchers. A Halifax Clarity card with quickly paid off balances and a Thai bank account seems the way forward.

 

Rico

[englishinsiam 15]

There lies your problem, NEVER let a UK bank make the exchange.

 

Send your money in STERLING and let the receiving Thai bank convert.

 

The currency exchange companies always take their share, if it is not a discrete charge it will be incorporated into the rate.

 

 

Of course everyone has to make money.

 

I have tried all methods and I find I get the best rate with Smart Currencies especially when I play them against WWC they will compete for the business. I usually transfer between £5-10K at a time.

[GlynRhedyn 32]

A month or so ago I started a topic about Nationwide increasing charges for their flexaccount w.e.f November. I asked for advice on opening a bank account in Pattaya and got a great response. And I'm happy to say it really was as simple as had been suggested. So this is a thanks to those who gave the advice, and confirmation of exactly what I did last week for anyone else looking to do something similar.

 

I went to the Kasikorn in the BIG C on second road. Its upstairs, about half way along on the right hand side as you walk towards the Big C supermarket.

 

I was greeted by a staff member as I went through the door. He was looking after the little machine they have got that dispenses numbered tickets for the queue. I asked if I could open an account and he said yes and gave me a ticket. Sat down to wait until my number popped up, still not really believing it was going to be a simple job to do.

 

My turn came after about 5 minutes. I had to go to one of the service desks which are on the left as you go in the door rather than the teller counters at the front of the bank. Again, I said i want to open an account and this time I was asked for my passport. Passed it over (it only had a 30 day stamp in it) and was told that would be fine. I also had to give an address and I used the guest house where I was staying. When I asked, the lady filling in all the forms confirmed they never send anything out in the post. I also needed to provide a thai mobile number.

 

I just sat there for about 10 minutes while the clerk filled out several forms and entered various bits and pieces in to her computer terminal. Then it was time to sign in various places, including copies of the passport that she made.

 

I then had to hand over 500 baht as a minimum opening balance and another 600 for the debit card charge. As others have said, this was issued immediately and I was taken to the ATM immediately outside to check it worked and to change the PIN.

 

I also asked for internet access which was set up with no problem. All I had to do was provide an email address, and I received a temporary password to that address for the account in less than 24 hours. I subsequently got signed in OK so that is also fine.

 

So, I tried one bank and was successful first time!! All in all about 20 minutes work.

 

In my earlier post I also mentioned I was going to get Halifax's new clarity credit card which offers "free" cash withdrawals world wide. I'm happy to say this worked as advertised.

 

I did one cash advance on the clarity card and got a rate that was about 1% higher than a withdrawal using the nationwide card. I did the 2 withdrawals at the same machine within about 30 seconds of each other so halifax seems the way to go. Both transactions incurred the 150 baht fee. However, presumably because it is a credit card, the ATM offered to convert the transaction to sterling there and then at a shit rate. So you need to make sure you take the "continue without conversion" option to get the better exchange rate.

 

Cheers

Just wanted to say that I did exactly the same as the Kasikorn branch next to Tukcom last week with the same service, procedure and results. One correction, the ATM card cost 350 baht. Now waiting for a good exchange rate to do some online transfer ready for my next trip.

Glyn.

[doodle 0]

Just wanted to say that I did exactly the same as the Kasikorn branch next to Tukcom last week with the same service, procedure and results. One correction, the ATM card cost 350 baht. Now waiting for a good exchange rate to do some online transfer ready for my next trip.

Glyn.

Same same me at Central Festival.

[bastax33 28]

Thanks grs90 for a very informative post.

 

From this thread it sounds like leaving 2,000 baht and logging on occasionally will keep the account active, but there is no mention of fees.

 

Not sure, but i've never had more than 2000 in my Kasikorn, never a bother. I have also found that when i log on for Kasikorn Internet Banking (just for a look, not to do anything) then i get regular emailed 'offers' from Kasikorn, CC's ect. So i think if you log on every now and again, it pretty much keeps it open.

 

Personally, i'm bringing Sterling next month, then putting it into my Kasikorn A/C as and when i need/think i'm getting the best rate.

 

In another thread one member indicated they were hit with a 50 baht a month fee, another member 200 baht a year, and yet another poster indicated 100 baht a year fee for their Kasikorn account.

http://www.pattayatalk.com/forums/index.ph...st&p=809604

 

I've tried searching their website and could not find any information on fees that was in english (I'm assuming members have opened an E-Savings account)

http://www.kasikornbank.com/EN/Personal/Ba...gsDeposits.aspx

 

For those members who have had a Kasikorn account opened for awhile, are any monthly fees being charged to your account? If so how much is the fee and is there a minimum deposit you are aware of that one can leave in the account to avoid a monthly are yearly fee?

 

I would like to open up a Kasikorn account as it seems to be the least expensive and safest way to access ones holiday cash. I've been going to LOS at least once a year for holiday for the last 6 or 7 years. After this years trip I might not be able to make it back to LOS for 2 or 3 years and will probably not bother opening an account this year if I'll be hit with monthly or yearly fees.

 

Thanks in advance for any info.

[Bazle 1,480]

For those members who have had a Kasikorn account opened for awhile, are any monthly fees being charged to your account?

No.

[s77656769 5]

IIRC:

 

2000 THB min balance, no monthly fee

 

100 THB/year fee for card, however I haven't seen this charged to me

 

I usually login to internet banking at once every month or two.

[DP Gumbypgh 97]

I was charged 500 baht one year after I opened the account so it would seem to be the yearly charge for the ATM/Visa card. It may be cheaper if you only have the ATM card though. Not particularly worried about it as I received more than that in interest,

[redwood13 56]

After a year of no activity on my Kasikorn Bank account I received a letter from them stating I would be charged 100 baht per month until I used the account again.

 

-redwood

[danboy 151]

Opened a Kasikorn account yesterday all very easy and over in 15 minutes but there was a 700baht charge which I believe she said was for the ATM card

[maipenrai 473]

Great info, guys - I tried to open an account with Siam Commercial last month when I was there and they wouldn't do it without a permanent Thai address, so it looks like Kasikorn is the way to go. I paid way too much money for ATM fees over my long visit, and I've got to set things up better for the next time.

[havingfun69 13]

I will be visiting Bangkok and Pattaya in July,how hard is it for an American to open an account and get an ATM card? I will only have a hotel address, my US DL and my passport.

 

Thanks for the help

[js007 795]

I will be visiting Bangkok and Pattaya in July,how hard is it for an American to open an account and get an ATM card? I will only have a hotel address, my US DL and my passport.

 

Thanks for the help

 

That's what I did. I opened the account with a thousand dollars or so worth of traveler's checks. And every once in a while, I wire them some money, just to keep the account active. When I got there last time, all my money was there, just waiting for me. Using the Kasikorn ATMs beats paying outrageous fees to Chase.

[rogero 4]

All UK banks make a charge for International transfers. Also you don't necessarily get the best rate.

 

I always use Currency Exchange Companies.

 

I do a free Bacs payment online from my Natwest account to either

 

www.worldwidecurrencies.com (They have a £500 minimum but no fees)

 

www.smartcurrencies.com (Over £3,000 free under is £20 charge)

 

If I transfer over £3,000 I usually find Smart give a little better than WWC.

 

It's in my Thai account between 3-5 working days after it leaves my English account and I get a better rate than Natwest offer me.

 

Hi EnglishIS

 

On your recommendation I registered with WWC today & after scanning and emailing my PP picture page I was up & going.

Then I emailed the OPI to them and shortly after went online with Santander to facilitate the transfer to WWC.

 

Is it normal in this day & age for a UK bank to take 4 working days to send money to another UK bank ?

Do WWC take as long in transferring the money to my Kasikorn acc ?

 

I have usually used FairFX prepaid credit card before & have funds available in Patta within 1 hour after transferring from Santander

 

cheers

 

rogero :beer

[rogero 4]

hi all

 

Following my post about transferring funds to WWC, I wanted to send the same amount via Santander as a direct comparison.

However Santander want the sort code rather than the swift code (KASITHBK) with 3 spaces to input.

 

I understand the 1st box is the branch code & the 2nd is the acc type. (thanks Thaivisa) but no info for the 3rd box.

 

I need the sort code for the KBank on Pattaya Tai (beside Tukcom).

Been on their web site but can't find it.

 

cheers

rogero

[DP Gumbypgh 97]

Opened one with a friend yesterday. 700 baht initial fees and 550 per year now after that.

[rogero 4]

hi all again

 

Just found out you can't transfer on line abroad with santander, only from your local branch in person ! A bit inconvenient if you are resident in LOS.

 

I went to local branch with all details & found they didn't know how to do it. !!

 

Theres a Halifax bank directly across the street, Will pay a visit tomorrow.

 

cheers

 

rogero