Nervous_Dog Posted July 23, 2006 Author Report Share Posted July 23, 2006 yes - i dont use it though but mates do, Thai Farmers is one, not sure of others Link to comment Share on other sites More sharing options...
Gadfly Posted July 23, 2006 Report Share Posted July 23, 2006 You are right; the rule is idiotic. But there was an edict from the BOT requiring work permits when a new account is opened. And then someone pointed out that people here on retirment visas are (a) need and are required to have an account and ( are not permitted to have a work permit. A few more examples were provided involving foreign directors - who live abroad and have no reason for a Thai work permit - wanting to have some measure of control over local subsidiaries. For example, they don't want the local subsidiary to set up a new account to process payments made to that subsidiary unless the a foreign director authorizes the local company to set up that account. The net result is that, in practice, many (but not all) branches of commerical banks ignore the edict because everyone - including some at the BOT - realize this rule is totally impractical. The BOT won't reverse the edict because of a "face" issue, and so some branches of some banks enforce the "rule". This is a typical problem here. You have a rule that is so impractical that banks have to ignore them to meet the requirements of other rules and legitimate objectives. The net effect of this is that it undermines compliance in legitimate rules that should be enforced. It's so tempting to put "TIT" at the end of this, and I think I will - TIT. Link to comment Share on other sites More sharing options...
Orangutan Posted July 23, 2006 Report Share Posted July 23, 2006 You can manage your account online at Bangkok Banks Bualuang ibanking. You can pay your bills online as well. -OT Link to comment Share on other sites More sharing options...
ThaiHome Posted July 24, 2006 Report Share Posted July 24, 2006 I'm thinking of opening an account at Bangkok Bank because they also have a branch in New York City. I can arrange for a monthly deposit to the NYC branch, and they will supposedly arrange for that money to be transferred to the Bangkok Bank in Thailand without any kind of wire fee. Or at least that's how it's supposed to work. Rex I assume you are going to use ACH transfers from your bank to the NYC branch for forwarding on to Thailand. In theory, this works, (and at $5 per transfer is a good deal) but my experience is at some point the ACH provider for your bank will realize the money is being sent out of US and will suspend the transfers. This has happened to me with two different US banks, one even made 3 transfers before suspending. TH Link to comment Share on other sites More sharing options...
cavanami Posted July 24, 2006 Report Share Posted July 24, 2006 What reason did they give as to the suspension? I make xfers from the USA to Malaysia quite often, using Citibank and have never had a problem. Link to comment Share on other sites More sharing options...
buddha Posted July 24, 2006 Report Share Posted July 24, 2006 I opened in SCB in ten minutes with a photocopy of my passport and a hotel address...I have internet banking as well....ATM card cost 500 baht and there was a minimum deposit of 1000 baht. Link to comment Share on other sites More sharing options...
elef Posted July 24, 2006 Report Share Posted July 24, 2006 I've an account in TMB just showed my passport, no internet but ATM, no fees, no interest - intererst if GFs name was also on the account but as the interest was to be taxed I didn't take it. Link to comment Share on other sites More sharing options...
ThaiHome Posted July 25, 2006 Report Share Posted July 25, 2006 What reason did they give as to the suspension? I make xfers from the USA to Malaysia quite often, using Citibank and have never had a problem. Are these SWIFT transfers? There is no problem with those; I do them regularly as well. What I was referring to was taking advantage of the fact that the NYC branch of Bangkok Bank has a Federal Reserve Routing (ABA or ACH) number that allows you to make transfers between US Banks. Usually much cheaper then $30-$50 that banks charge for SWIFT transfers. The reason given is that ACH regulations require that the receiving account must be in the US. TH Link to comment Share on other sites More sharing options...
cavanami Posted July 25, 2006 Report Share Posted July 25, 2006 OK, understand...yes, SWIFT xfrs. Link to comment Share on other sites More sharing options...
cavanami Posted July 29, 2006 Report Share Posted July 29, 2006 Update from my attempts to open an account: UOB at the On Nut BTS - must have work permit, mai pen rai, as I deal with the ladies there often. Bangkok Bank, 85 Suk - must have work permit, letter of reference from your Embassy, letter of reference from a current Bangkok Bank customer...WTF??? They make it difficult to take my money! Krug bank, 93 Suk - must have work permit, OK, fine, moving on. Siam Bank, 99 Suk - said OK, PCs are broken, come in on Monday to setup the account. Checking their internet site, www.scb.co.th, both in English and Thai, they offer internet banking for foreign tourists. The webpage states that the funds, $5K USD min, must be transferred in from a foreign bank...I will see how they do on Monday, as I want to deposit on Monday. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.