Informations about bank account

[seashark]

Hi

I have found informations here

http://board.nanaplaza.com//showflat.php?Cat=&Number=363353&page=0&view=collapsed&sb=5&o=&fpart=1

but I need more...sorry...

 

I have some questions about bank account in Thailand.

Ok..I know..many questions..please, forgive me!

 

I would like to open a bank account in Thailand (bkk). With an ATM card, of course!

 

I have read informations in BangkokBank web-site, but some are missing or unclear, so I would like to get them by persons having actually a bank account in Thailand

 

Questions:

 

Should I have a working permit ? (it seems I dont need!)

How much is for start account ?

How much is monthly (yearly) fee ?

How much can I withdraw daily by ATM ?

How much can I withdraw monthly by ATM ?

Can I withdraw money by any bank agency or should I go to my agency ?

 

I know conditions can be different in different banks, but I would like to understand how much convenient is to have a thai bank account for people like me that go in thailand two-three times in a year for holidays

 

Cheers

Thank you

 

Shark

[gummigut]

1) Don't need a work permit (though some banks will insist you have one. If you meet this type of bank, just go to the next one down the street. Kasikorn on Sukhumvit and Soi 33 is known as a farang friendly branch with regards to this).

 

2) 500 baht or so. Can you handle it?

 

3) 100 baht. I saw this on my passbook and asked the branch manager. Never knew there was one. Standard ATM card.

 

4) My daily limit is 20k. You can opt for 40k as a daily limit at my bank but it costs more (100 baht??? Can't remember).

 

5) Monthly limit? I don't think there is one. Just daily.

 

6) If you bank with one of the major banks in Thailand you should be able to withdraw your money from most any ATM. Some do charge a fee. If you are out of the province that your bank branch is in, there is a 10 baht or so fee deducted.

 

Very convenient to have a bank account in Thailand. Just don't lose your passbook and atm card at the same time. They'll never be able to find your account!

 

<<burp>>

[Guest]

I was going to reply to part of your post, but then realised that my info was a good few years out of date - and I was never comfortable using ATM's in Thailand - so never had one

 

Anyway, I thought I would tag onto your request

 

Has anyone had any experiance of opening a Bank Account in the last year? (For a Tourist) I am especially interest if they are still happy using just a Hotel Room as an address and if not, what (if any!), proof of residence in a BKK apartment they would need.

 

A good few years back the buggers at Siam City closed my previous account after having no money in it and not being used for 18 months (I foprgot my passbook one trip!)

 

I opened up another one with no problems 3/4 years ago and used it for a couple of trips, but I am pretty sure that they will have also closed this account now - As I have not used it for two years - last trip I forgot my passbook again, so did not bother checking.

 

Quite fancy Bangkok Bank this time - nice Branch on Suk, Soi 8

 

 

 

I was obviously a bit slow in posting this!

[Neo]

I would like to understand how much convenient is to have a thai bank account for people like me that go in thailand two-three times in a year for holidays

 

The question is why do you want a Thai bank account? What problem are you trying to solve by opening one? Perhaps opening a bank account is the wrong approach and there is a better way to accomplish what you are trying to solve.

 

[Zorro]

"The question is why do you want a Thai bank account? What problem are you trying to solve by opening one? Perhaps opening a bank account is the wrong approach and there is a better way to accomplish what you are trying to solve. "

 

The plot thickens......

[Guest]

Neo,

 

Historically my trips used to last up six months at a time. I never like using ATM's or credit cards (even here in the UK), although I always took a bundle of travellers cheques I never took enough for a six month trip. too much signing for me!

 

I also did not like ATM's in Thailand as when drunk I would use them too much! - a trip to the bank once a week makes ME think a bit more about the spending rate. A bit luddite I know - but it works for me, although of course since I discovered drinking on credit (my main expense) this does not work quite as well as intended!

 

My first trip, (admittedly about ten years ago) I did take a credit card and had it eaten by an ATM in Chiang Mai and could not get it back - a real pain in the arse, especialy as I was booked to leave CM in 2/3 days, not really enough time to guarantee organising a replacement card or cash to CM - but long enough to annoyingly skint!

 

When sending money from the UK I was always more comfortable in it having a bank account with my name on it to go to - just get them to swipe my passbook and I knew whether the money had arrived and I also did not have to worry about the money not being returned if I did not check for a week or so.

 

For me it is comforting to have quick and guaranteed access to a good amount of cash, not kept in my room or relying on a piece of plastic.

 

I tried the Western Union route once and for me it was a complete pain in the arse - although probably a lot to do with my bank in the UK!

 

I only sent enough money to last me a month or so at a time, apart from not wanting anything to get lost enroute (it does happen) and having to sort things out when in Thailand, monthly money meant that I would have to "pace" myself. (Never quite worked like this as I either used to drink on credit or have BG's pawn there gold for me).

 

Last trip I was only in the LOS for 2 months and did take enough cash and T/c to last - ran short still (No great surprise!). As I had forgotten my passbook (and guessed it had probably been closed anyway) I would have tried the Western Union route again, being based in Bangkok a lot more conveniant for me to do - but in the event used a BG's bank account (which accounts for some of the extra expense - but that's another story ).

 

I would envisage that having a bank account in Thailand would save a few pounds in bank charges if you were funding a TG monthly, just send down a years worth and monthly standing order to her account. Internet Access would be a bonus.

 

Funnily enough next trip I will try the American Express Travellers cheques which have been advertised in the UK recently and which come in ATM form. Effectively "prepaid credit cards". Last trip I had a couple of problems with a cashier refusing to accept a couple of my Amex T/c's because my signatures did not match - she may have had a bit of a point - shaky hands in the morning and ever since I kind of worried that it would happen again, never did.

 

Probably will give them a try, although I am worried about whether the rate given will be as good as the Exchanges in Thailand - anyone used them yet? - if they are as good I will probably get a few, just so I can easily track my spending.

[Guest]

Seashark,

 

dunno about the 40 000 daily limit, I get 150 000 with an electron card. No need to have a work or resident permit if what you want to open is a saving account (which I have). Heard some branches ask those permits, if it happens, just move to next one. Both BKKBank branches on Silom were OK, as well as the one on Suk 4.

 

U can withdraw money from any agency, but there's a 1/1000 fee if it's outside the city(Changwat ?) where you opened the account. A friend recently got some trouble trying to withdraw a couple of millions upcountry but difficult to know what happened as he speaks neither thai nor english. From what I know it's no hassle up to 2 million. Above either you fill a form or split it in below 2 000 000 withdrawals, bankclerks(and managers I guess) seem to be more than happy to avoid the paperwork. Wish it was the same in France...

 

Now I have some questions as well :

 

is there a way to check the balance on a BKKBank or thai Farmer Bank SAVING account while one is overseas?? Is there a way to fax transfer orders??

 

Does ATM overseas can give that info?? ( can't check anything out at the moment as i haven't used the cards for quite a while and have no idea about the codes)

[gummigut]

Great point about banks closing accounts with no activity. I don't know what the length of inactivity that triggers it but it's there.

 

I've known Thais who've complained about that though I can't remember if they ever got their money back.

 

Great question about why do you want one. Foreign ATM cards work here with no problems at all.

 

<<burp>>

[Flashermac]

Bank accounts will only close from activity if you have a very small amount in them. e.g. A colleague opened one years ago with a 100 baht deposit. Then he forgot about it. When he decided to put some money in it, he found out it had been closed and he had lost his 100 baht.

 

On the other hand, I left a Bangkok Bank book with my wife when I went back to the States for a while years ago. Naturally, she forgot where she put it. I figured the money was lost, until I got a notice a few months ago from the Bangkok Bank saying I had an account that was inactive. I had to go to a police station and report the book as lost. Even though it had been about 14 years, I did get my money back. I had to pay for a new book so they could close the account. There was only about 2800 baht in it, which is why I had never bothered before. Interest should have run it up to maybe 5,000 over the years, but they had stopped paying interest since it was "inactive". I'm told they really do have to pay interest and I could have challenged it, but the amount was so small that I didn't bother. I was happy just to get back the 2800 baht.

 

p.s. The gummint threw out that Work Permit requirement for bank accounts long ago, since it meant that folks who wanted retirement visas couldn't open an account to deposit the money needed for a visa! But most bank branches still insist that you have one. I had to show mine when I opened a Thai Farmers Bank (Kasikorn) a year or so ago. And remember Stef? When he wanted to open an account at Bangkok Bank and deposit about 6.5 MILLION baht, they refused ... no work permit. ::

[Flashermac]

<< The question is why do you want a Thai bank account? >>

 

 

Convenience? I have a colleague who has Bangkok Bank accounts in both London and Bangkok. He can draw on either account with his ATM card. It is also easy for him to pay bills that come up in the UK. He just wires them to issue a cheque to whomever and they pay it for him. There are also Bangkok Bank branches in the States and probably Oz.