Opening Bangkok Bank account

[nkped 1,208]

Went to open a Bangkok Bank account yesterday as I want the easier/cheaper option for transferring money from the US.

 

As others have suggested, I went to the branch on second road opposite Soi 6. Not being familiar with that part of town (honest), I got off the baht bus when I saw the sign for Soi 6/1 and wondered a few meters in the wrong direction before turning around and spotting a sign with the bank logo.

 

The banK has blessedly strong AC. I'm surprised the staff weren't wearing sweaters.

 

Bangkok Bank's website has a page on opening accounts. http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx. It doesn't exactly reflect ground truth, but it is probably worth reviewing.

 

As anticipated, the customer rep wanted to see my passport and wanted my address. Then she asked me for a residency certificate from immigration. I know what that is, but I certainly didn't have one and squawked a bit about the website not saying anything about that. She said I would need a one year visa to not need the residency certificate. "I have." "Show me." Crisis solved.

 

I did have to complete an IRS Form W-9 for FATCA (she used the acronym) and a few local forms relating to my tax status.

 

Asked for a savings account as it seems to meet my requirements and has a lower minimum balance requirement.

 

Offered a choice of two types of debit cards. One could be used in any bank's machine. The other has a chip and can only be used in Bangkok Bank ATMs. She said the one with the chip was more secure so I took it.

 

Did think to ask about Internet banking. Turns out you ask for that at an ATM which she showed me how to do. The receipt gives you a user ID, which you use with your debit card PIN to sign on initially. As you might anticipate, it then requires you to establish an 8 character online PIN.

 

So far, so good. Next week, I will see if I can set up ACH transfers from my US bank. http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromusa/pages/receivingfundsfromusa.aspx

Edited March 28, 2015 by nkped

[peterbkk2 1]

What is the yearly fee for the account/ATM card?

[nkped 1,208]

What is the yearly fee for the account/ATM card?

Paid 300 baht in fees associated with the debit card yesterday. Beyond that, I don't know.

[MM 6,562]

I opened an account with them last year, and it's just great. ACH transfer works flawlessly, though sometimes it takes more time than I expect due to US or Thai holidays or weekends.

 

The conversion rate from USD to THB is quite good as well.

 

I got the chipped card so I am limited to using Bangkok Bank ATMs it seems. They're not as common as say, KBank or SCB, which seem to be everywhere, so I have had to memorize ATM locations rather than just using the nearest one from another bank. It's no big deal though.

 

All in all, I find them quite good.

[MM 6,562]

Also, let us know if you have any problems with the test deposits they make to confirm your external bank connection..

 

There's a few issues there you might run into.

[nkped 1,208]

Will do. The website talks about that and gives phone numbers to check the amounts in USD. We'll see.

[jacko 8,822]

What is the yearly fee for the account/ATM card?

ATM/Debit Card Annual Fee is 200 baht, no other regular charges.

[nkped 1,208]

Also, let us know if you have any problems with the test deposits they make to confirm your external bank connection..

 

There's a few issues there you might run into.

Will do. The website talks about that and gives phone numbers to check the amounts in USD. We'll see.

Went online with the US bank Monday evening (morning in US) to enter the Bangkok Bank information for transfers. They acknowledged immediately and said it would take 2 or 3 days to make the test transfers. This morning, had the message saying they had made the test transfers. Signed on to the Bangkok Bank account and the test transfers were there, but in baht of course. That's where things departed from the script.

 

Referring to the web page I listed at the end of the OP, I called 1333. Sorry, you have to call your local branch. BTW, the one on 2d Road opposite Soi 6 is the Muang Pattaya branch, but she gave me a phone number. Got a young lady who was trying mightily to be helpful. She gave me the exchange rate. Might have worked but I didn't want to be guessing. She managed to give me the amount for one clearly .15 and actually gave me the amount for the other one once, .14, but with no amount of certainty. So I say one is .15. What is the other one? Exchange rate again. I'm almost in tears and she is wondering what this crazy farang wants. As I had spent last night praying to the great god Ralph, I really did not want to take a 30 minute baht bus ride today to check in person.

 

Eventually, they get someone who speaks a little more English and I get the amounts confirmed. Enter the amounts with the US bank and they say, yeah, you got it right.

 

Mission accomplished.

[MM 6,562]

Went online with the US bank Monday evening (morning in US) to enter the Bangkok Bank information for transfers. They acknowledged immediately and said it would take 2 or 3 days to make the test transfers. This morning, had the message saying they had made the test transfers. Signed on to the Bangkok Bank account and the test transfers were there, but in baht of course. That's where things departed from the script.

 

Referring to the web page I listed at the end of the OP, I called 1333. Sorry, you have to call your local branch. BTW, the one on 2d Road opposite Soi 6 is the Muang Pattaya branch, but she gave me a phone number. Got a young lady who was trying mightily to be helpful. She gave me the exchange rate. Might have worked but I didn't want to be guessing. She managed to give me the amount for one clearly .15 and actually gave me the amount for the other one once, .14, but with no amount of certainty. So I say one is .15. What is the other one? Exchange rate again. I'm almost in tears and she is wondering what this crazy farang wants. As I had spent last night praying to the great god Ralph, I really did not want to take a 30 minute baht bus ride today to check in person.

 

Eventually, they get someone who speaks a little more English and I get the amounts confirmed. Enter the amounts with the US bank and they say, yeah, you got it right.

 

Mission accomplished.

Aside from the 30 minute baht bus ride to actually visit the branch and go to the 2nd (?) desk on the left as you go in (which is labelled something to do with International or Foreign), you did well.

 

I had the same problem initially...I couldn't put faith in doing the exchange rate calculation and I gave up on the phone service..wasn't lucky or persistent enough to get someone who could definitively say what the amounts were in USD, so I went to the 2nd Road branch across from Soi 6. There it was a piece of cake when I spoke to the girl at that desk..she even gave me a print out of the transfer with amounts in USD and THB.

 

Congratulations, looks like you're all set!

[jacko 8,822]

Although the above worked out for you guys, would 'phone alerts' have made it all easier?

Whenever I transfer to Bangkok Bank I get an SMS which tells me how many £ I sent, charges deducted, exchange rate and number of baht deposited.

[mike_asia 1]

I setup an account it's been a cluster fuck.

 

Like Kasikorn and all the other banks that stupid passbook is a joke.

 

Taken a week still waiting on the online banking PIN. Told me today they would email it to me.

 

Not looking forward to verifying the trial deposits.

[MM 6,562]

Although the above worked out for you guys, would 'phone alerts' have made it all easier?

Whenever I transfer to Bangkok Bank I get an SMS which tells me how many £ I sent, charges deducted, exchange rate and number of baht deposited.

I have phone alerts, and the last incoming transfer only shows up in THB...there is no indication of how much was sent in my currency (USD), so it wouldn't have helped me at all.

[nkped 1,208]

I setup an account it's been a cluster fuck.

Like Kasikorn and all the other banks that stupid passbook is a joke.

Taken a week still waiting on the online banking PIN. Told me today they would email it to me.

Not looking forward to verifying the trial deposits.

If you can possibly do so, go back to the branch where you open the account. Doing it over the phone is stressful.

I have phone alerts, and the last incoming transfer only shows up in THB...there is no indication of how much was sent in my currency (USD), so it wouldn't have helped me at all.

That's my experience as well. I only get the amount in THB.

 

Having done the initial setup, it's a great way to move money.

[MM 6,562]

If you can possibly do so, go back to the branch where you open the account. Doing it over the phone is stressful. That's my experience as well. I only get the amount in THB.

 

Having done the initial setup, it's a great way to move money.

I agree wholeheartedly with that. Setting up a foreign transfer with any of my banks in the USA is very restrictive if I can send to Thailand at all. Even Schwab has some hoops they occasionally ask me to jump through to perform one of my standing orders.

 

Sending via ACH to a domestic USA bank, such as Bangkok Bank's NY Office is much easier.

[jacko 8,822]

I have phone alerts, and the last incoming transfer only shows up in THB...there is no indication of how much was sent in my currency (USD), so it wouldn't have helped me at all.

That is surprising so I went and checked my old SMS in the phone, and yes, in February, my transfer from abroad was alerted to me as a baht deposit, and in brackets the sterling amount, exchange rate and -500 all detailed. If I recall correctly I had this type of alert prior to setting up the 25 baht/month ones.

[mike_asia 1]

That is surprising so I went and checked my old SMS in the phone, and yes, in February, my transfer from abroad was alerted to me as a baht deposit, and in brackets the sterling amount, exchange rate and -500 all detailed. If I recall correctly I had this type of alert prior to setting up the 25 baht/month ones.

Guess it could be due to a difference in SWIFT vs. ACH transfers??