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cavanami

International Banking: Usa <> Thailand

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Had a hell of a time getting ,money wire transferred from the USA to Thailand!

Such a route is suspect.

Took one week, phone calls at 0500 everyday to answer the "security" question(s) of the day.

 

Did an ATM transaction, money from the USA account to a Thai ATM.

220 Baht fee, which will be repaid at the end of the month by the USA bank, Schwab. That was good.

Good exchange rate: 34.41

Limit set at $1000 USD, which I can increase if so desired, but 1K should be OK for now...

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I finally rented by house in Chiangmai last September and have had the proceeds deposited to my wife's SCB account, which I can't access when I'm in Thailand for 2 weeks in late April. I'm considering opening a bank account in my name, and realize that may not be easy. If I can open an account, can I link it to my Schawab account and transfer money that way? If the answer is no, I noticed that there is a Citibank branch in Bangkok. If I open an account there and one in the U.S., can I transfer money that way. In the worst case scenario, I'll have my Thai friend open an account with an ATM card, and use that to take money out of while I'm in the U.S. I trust my Thai friend but would prefer not to go this route.

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One other thing. Once I get a Thai bank account set up, how hard is it to set it up for online banking, or at least log on and view the account (mainly, so I can see if rental deposits have been made)?

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Opening a bank account in Thailand , example Bangkok Bank Sukhumvit :

 

Go there and tell the next best person what you want . Next best person shall give you a piece of paper explaining what to do at the US embassy , mainly getting a paper signed that confirms you are Mr dean from USA . After this you openyour bank account and enjoy services that are partially unknown in first world countries like for example email notification after money has arrived from somewhere . Anything you wish to know can be easily seen online . Highly recommended .

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I assume that I can do the same thing at the CM consulate? That sounds like it is much easier than getting a marriage visa, or even registering a car in a foreigners name. I had a bank account in the early 2000's but I thought it was harder now, particularly since the U.S. Government has put pressure on foreign governments to notify the U.S, government when an account was opened (and more paperwork for the foreigner).

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Kasikorn Bank was easy. Bangkok Bank was the most difficult but this is info from 15+ years ago.

 

Never had to go to the US Embassy for any type of paperwork.

 

Citibank in Bangkok has zero ties to Citibank in the USA.

 

Kasikorn can do online account checking, easy.

 

Note: most banks require you to receive a security PIN number before doing bank transactions, meaning if you

wanted to transfer money from your BKK bank account you would have to receive the PIN on the phone you register

with the bank.

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I just opened a new Bangkok Bank account having not had money in Thailand as such for about 5 years. Previous account at small Bangkok Bank branch had lapsed. They close the account if no activity in a certain period. At the same branch they said no can do, only at Silom head office. Went to Silom head office. Nice lady holds out hand for embassy letter stating residence and passport. Savings account with ATM card opened there and then no problem. Was told at the time, easy to open because you Blitish. US man need paperwork maak maak. Was also told at the time no other facilities for such an account would be available. No internet or online, notice of activity etc etc. For anything else a work permit was the only acceptable route.

 

But then again, YMMV.

 

Anything over 6 weeks old is dated and likely completely the opposite of what you will find.

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At least, I have 2 weeks to get this sorted out. My house is just outside Chiangmai, about halfway to San Kamphaene, in a village called Bo Sang. I used to Bank at a SCB there and will probably start there. I'll skip the Bangkok Bang across the street. I'll keep Kasikorn as a backup choice and start going down the list of banks in town. It should keep my mind off of the dental work that I'm planning on getting done.

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I have found Thai internet and mobile banking very good, quick and easy.

 

Opened an account recently, a few months ago, only needed to see that I had a valid visa (in my case "Family") So if you come with a "Family" visa no problems

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