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

[the_inspector 6]

I transfer from the halifax bank all the time, not normally to thailand but same same.

 

Can take up to 3 days but sometimes it is in that day (UK to Norway) and costs £9.50. I send in GBP but the option is there to convert it but as mentions 100's of times on this forum the rate is piss poor!

[ozibill 546]

I live here and keep an address in the UK . I have money regularly transferred by Barclays Uk to Siam Commercial Thailand , it is a standing arrangement , they transfer sterling , and the charge is £20 a time . This I don't mind as it gives me peace of mind knowing I don't have to worry about it . The time of transfer is usually 3 days .

Edited May 11, 2011 by ozibill

[bastax33 28]

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

 

 

Thanks for this most recent update on costs DP, and to the others that posted their fee experience.

 

Since it may be a few years before I return to LOS doesn't really make sense for me to open an account this trip.

[jacko 8,813]

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 :beer

Well good luck with that but you are dealing with ex-Building Societies.

More geared up to domestic stuff.

My pal recently had problems with domestic transfers using Halifax due to limits.

 

I know HSBC work OK... although they double whammied me on a transfeer charge.

Have heard negative feedback on Barclays too.

I have a Standard Chartered Acct offshore and it is easy.

 

SCB and HSBC was all done via internet.

Edited May 12, 2011 by jacko

[havingfun69 13]

I still need to know if I will be able to open a thia bank account with only my US PP and DL along with my hotel address in Thailand. I appreciate any advice you have.

[DP Gumbypgh 97]

Only need passport and address of hotel at Kasikorn Bank. DL not required.

[havingfun69 13]

Thanks for the fast reply, I land at 1030 am in BKK should I go to the local branch there or is there one in Pattaya?

 

Thanks

[bastax33 28]

Thanks for the fast reply, I land at 1030 am in BKK should I go to the local branch there or is there one in Pattaya?

 

Thanks

 

I haven't opened one but from the threads on opening an account certain Kasikorn branches will open an account for you with just your passport and others will not. Try until you find one that will. Several posts have indicated the Kasikorn near Tuk Com in pattaya will open an account with just a passport and address of your hotel. Good luck!

[jacko 8,813]

Thanks for the fast reply, I land at 1030 am in BKK should I go to the local branch there or is there one in Pattaya?

 

Thanks

Go in Pattaya, unless you need to go into Bangkok.

Plenty of Branches here, a large one in Carrefour.

[DP Gumbypgh 97]

Are you intending to spend more time in BKK than pattaya? If so then it would make sense to open the account in BKK, otherwise Pattaya is best. Don't know if the BKK banks are are easy to deal with as the Pattaya Branches of Kasikorn.

[MM 6,562]

Are you intending to spend more time in BKK than pattaya? If so then it would make sense to open the account in BKK, otherwise Pattaya is best. Don't know if the BKK banks are are easy to deal with as the Pattaya Branches of Kasikorn.

 

 

That's a good point. I have a Kasikorn Pattaya branch account, but when I go to Bangkok, the leeches charge me to use the Kasikorn ATMs in BKK (like 10 or 15 baht). In Pattaya, it's free because it's in the same province as my branch.

 

Gouging, pure and simple.

 

It's a national bank, but they act like they have to do some extra effort to make a transfer from another province.

 

I'm sure it's all on the same computers and network...and if it isn't, then they are really screwed up.

[losgrad 264]

Yes, whenever you use your Thai bank ATM in a province different than where you opened the account (Pattaya vs. Bangkok vs. Chiang Mai, etc..), there will be a small fee of about 10 baht for ATM use or deposits. Bangkok Bank, Bank of Ayudhya and Kasikorn Banks, etc.. all do this. You can also use your Thai bank ATM card at most other other Thai bank ATM machines and they will charge you 35 baht, i.e. using your Kasikorn ATM at a Bangkok Bank ATM (unless you have one of those special security/smart accounts that do not permit this).

 

It's still the way to go rather than using my USA ATM cards and paying a 150 baht ATM fee for every $300-600 plus any International conversion charges. I frequently use my HSBC online account to transfer funds to Bangkok Bank for a fee that is dependent upon the amount transferred (for $2000 HSBC charges me $5 and then Bangkok Bank charges me 150 baht). I know another USA/Thai bank charges a little less, but it wasn't significant to me. For large amounts, I know many guys use Western Union as the charges can be significantly different, but you'll have to weigh the convenience factor. For my regular periodic transfers, doing it online and then getting an SMS text message on my Thai cellphone in 3-4 days informing me my funds transfer has been received by Bangkok Bank is exceptionally convenient.

 

For having the standard ATM card, most of the banks (I have accounts at Bangkok, Ayudhya and Kasikorn) charge me a 200 baht annual fee (automatically debited) assuming a minimum balance for just having the basic ATM accounts. There are other account types that may charge different amounts.

 

In regards to opening accounts, Bangkok Bank can be one of the most stringent in requiring something other than a Tourist Visa and semi-permenant address, however the branch on 2nd Road across from Soi 6 has been known to be more lenient. Ayudhya and Kasikorn banks often require only the minimum of a passport, any address and some baht. The initial ATM card fee (to pay for the actual ATM card and account) is around 300-700 depending on the account types and if there are any promotions (during a special promotion, I opened my Kasikorn account and got an ATM card with my picture and only paid 300 baht in fees to open the account plus 500 minimum deposit).

 

Well, it's sure nice to avoid those 150 baht semi-weekly charges (sometimes daily) to my USA ATM cards. I also feel safer using the Thai ATM cards as they are somewhat easier to get replaced - file a police report, take copy to the bank with your bank book and passport and they'll give you a new card after canceling your old card. Yes, there have been reports of guys losing their funds in Thai banks from non-use, fraud or misappropriation; but I haven't heard these reports first hand.

 

Soon, I may look into the credit cards such as those referenced in this thread or one of those Thai CitiBank Credit Cards heavily promoted at Central Festival and other malls (have a USA one). I'm especially interested in the liability limits compared with our USA credit cards. My HSBC card has no international conversion fees, but I still avoid using it except at airlines and such.

 

Thanks for sharing your knowledge and experiences.

Edited May 13, 2011 by losgrad

[Chris100UK 519]

Opened a kasikorn account in april. They have a branch in Royal Garden Plaza (upstairs).

 

Cost was 1000 baht. 700 for the card etc, 300 was deposited into the account. Signed up for cyber banking and text alerts when the card is used.

[havingfun69 13]

Wow, you guys are great!!! This is exactly what I needed to know. I will not be visiting the LOS often so I think the branch in Pattaya will be fine. I just want a place I can park my money while I am there and have safe access to it. I will probably keep the account open as a failsafe for when I visit again next year.

[jacko 8,813]

Soon, I may look into the credit cards such as those referenced in this thread or one of those Thai CitiBank Credit Cards heavily promoted at Central Festival and other malls (have a USA one). I'm especially interested in the liability limits compared with our USA credit cards. My HSBC card has no international conversion fees, but I still avoid using it except at airlines and such.

I recently got 2 credit cards with Bangkok Bank. I also got them listed on my Interent Banking. I had to put a chunk more than the credit limit into a 15 month fixed term deposit.

I quickly tried them out at Carrefour and Homeworks, pretty straightforward, and no apparent charges involved.

It gets paid off completely from my savings account the next month.

Then I got a nice surprise as a computer back-pack was delivered to my home. A free gift from BB.

But for the real reason I got them, which was to pay for an Airfare when booking a flight on-line, well that didn't work and it just seemed to hang at the security question stage (paying in Thai baht to a foreign airline). Had to use a UK card and accept the currency exchange hit.

[havingfun69 13]

I recently got 2 credit cards with Bangkok Bank. I also got them listed on my Interent Banking. I had to put a chunk more than the credit limit into a 15 month fixed term deposit.

I quickly tried them out at Carrefour and Homeworks, pretty straightforward, and no apparent charges involved.

It gets paid off completely from my savings account the next month.

Then I got a nice surprise as a computer back-pack was delivered to my home. A free gift from BB.

But for the real reason I got them, which was to pay for an Airfare when booking a flight on-line, well that didn't work and it just seemed to hang at the security question stage (paying in Thai baht to a foreign airline). Had to use a UK card and accept the currency exchange hit.

 

 

So I am guessing it is more involved getting a thia credit card? same standards as the US?

[jacko 8,813]

So I am guessing it is more involved getting a thia credit card? same standards as the US?

It was quite easy.

I live here and have had an account there for some years, and the guy behind the desk must be on commission as he was dead keen.

He filled the forms in, copies of passport, sign, sign, sign and I had them.

As I had to open a fixed term deposit to cover the credit line, and it is paid off at months end, it isn't really a credit card as such. Likely not much different from using the ATM/Debit card.

[Chris100UK 519]

Looking at some info i have just discovered that i paid more than i needed to for my Kasikorn debit card.

 

Not knowing that there are different ATM cards to choose from, they naturally signed us up for the K Max debit card (which has an annual fee of 550baht plus 150b card fee). Total = 700b

 

If you want a regular ATM card you only need the 'K debit card' (200 baht annual fee + 100b for card itself). Total = 300b

 

The extra annual fee for the K Max card gives you some sort of basic life insurance, which presumably you won't need if you have already got travel insurance. The woman who helped us open the account didn't discuss our options, so make sure you ask for the cheaper basic ATM card.

 

On my next visit i will have to go back and change my card over.

 

The annual fee for a card (even at 200b) is a pain in the arse for the simple reason that you have to make sure there is always money in your account.

 

You can do without the card and just use your bank book for withdrawls, but you are relying on bank opening times. Travellers cheques would be more convenient.

[MM 6,562]

It was quite easy.

I live here and have had an account there for some years, and the guy behind the desk must be on commission as he was dead keen.

He filled the forms in, copies of passport, sign, sign, sign and I had them.

As I had to open a fixed term deposit to cover the credit line, and it is paid off at months end, it isn't really a credit card as such. Likely not much different from using the ATM/Debit card.

 

That's amazing. I wanted a credit card to pay for things online with Thai baht, and as you probably know, the VISA ATM (debit) cards have aren't useable as credit cards online...they don't have a valid CVV or expiration date, for example.

 

So, I went to my Kasikorn branch where I had a sizeable amount on deposit for several years, and was told that to get a credit card...an actual card that you can pay off in installments, I'd need the following:

1) Company papers

2) Work Permit

3) Salary disclosure

4) 1 liter of blood

 

After about 6 months, I was approved for both a VISA and MASTERCARD, but with a ridiculously low credit limit based on my purported salary * 2. I don't even get a salary, so I used the statutory salary amount defined by the Thai government for Americans working in Thailand when I applied.

 

The credit limit is enough to buy an economy ticket to the USA, but not business class.

[jacko 8,813]

That's amazing. I wanted a credit card to pay for things online with Thai baht, and as you probably know, the VISA ATM (debit) cards have aren't useable as credit cards online...they don't have a valid CVV or expiration date, for example.

 

So, I went to my Kasikorn branch where I had a sizeable amount on deposit for several years, and was told that to get a credit card...an actual card that you can pay off in installments, I'd need the following:

1) Company papers

2) Work Permit

3) Salary disclosure

4) 1 liter of blood

 

After about 6 months, I was approved for both a VISA and MASTERCARD, but with a ridiculously low credit limit based on my purported salary * 2. I don't even get a salary, so I used the statutory salary amount defined by the Thai government for Americans working in Thailand when I applied.

 

The credit limit is enough to buy an economy ticket to the USA, but not business class.

Well the reality was I had the cards a week or so later. And have used them in Thailand at Homeworks and Carrefour, easy peasy. But, as I posted elsewhere, the real reason I wanted them was to pay for flight tickets on-line, in Thai baht, the currency the cost came up in. The cards didn't work..... Not sure if I want to try them in the UK when I am there, they might get swallowed. I am inclined to think farangs don't get the permission to send baht out of Thailand via CC. I did get a sufficient limit though (200k...)

Neither are they paid off in installments, but in entirety, automatically, at the month's end. (I prefer that and required it.) Means I not only have a chunk in the fixed term deposit, but need to ensure the savings account has enough in there to support the CCs.

Edited May 23, 2011 by jacko