Banks in Thailand

[samak]

quote:

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Originally posted by V. Calvino:

What happen to having to have a work permit to get open a bank account? Last year when I was in Thailand in was in all the papers. They were saying that only foreign nationals that were residents of Thailand would be able to open a bank account and that those who already had an account would have to show proof of residency or lose their account. I thought it was pretty stupid to be refusing money. I guess someone agreed with me.

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happened what happens to many thai laws or government regulations: never implemented!

[Guest]

I HAVE AN ACCOUNT WITH THAI FARMER BANK IN BANGKOK. THEY ISSUE THE ATM CARD ON THE SPOT

AND ALL YOU NEED IS PASSPORT AND AN ADDRESS.

YOU CAN HAVE YOUR STATEMENT INSTANTLY SITTING IN ENGLAND VIA FAXPHONE AND CHECK YOUR BALANCE.STATEMENT IN ENGLISH BUT I DONT KNOW HOW OFTEN THEY UPDATE THEM.

CHEERS

[Guest]

What happen to having to have a work permit to get open a bank account? Last year when I was in Thailand in was in all the papers. They were saying that only foreign nationals that were residents of Thailand would be able to open a bank account and that those who already had an account would have to show proof of residency or lose their account. I thought it was pretty stupid to be refusing money. I guess someone agreed with me.

[gene1944]

quote:

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Originally posted by V. Calvino:

that only foreign nationals that were residents of Thailand would be able to open a bank account and ....

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I remember that time and think it lasted for several weeks. It was not uniformly applied and things seemed to have slipped back to the old way where little is required as long as you have an ID and some cash.

[phiketpete]

I have accounts at both Bank of Asia, because it is foreign owned -- ABN AMRO and Bangkok Bank- location. Ionly needed passport and address. I have ATM cards for both BOA I receive monthly statements

BB I have a pass book.

As for money markets.

If you are talking of putting your money to work whilst you are not here. Forget it.

Interest rates for deposit accounts are 2and a bit % and I would not consider the Thai Stock market an 'investment vehicle' particularly if you are out of the country.

Now if your idea of investment is playing the ponies then the SET might just be for you.

Also note that the Bank of Thailand Governor has just been sacked by Khun Taksin.

Khun Taksin believes that the very low interest rates have not spurred the economy and is not good for depositors. So we may be in for a period of higher interest rates.

Watcg this space