frede Posted November 27, 2007 Report Share Posted November 27, 2007 Gents Has anyone had any dealings with the HSBC in Thailand. I am trying to open an account with them and would like to know if anyone has done the same and why Cheers Link to comment Share on other sites More sharing options...
cavanami Posted November 27, 2007 Report Share Posted November 27, 2007 I know that when a did a $$$ xfer from the USA to my Thai bank account, HSBC was the bank in the middle and they gave me the shitty offshore xchg rate! As such, I would NEVER use them for anything even again!!! I use Kasikorn Bank and they have proved to be OK. Link to comment Share on other sites More sharing options...
WorldFun Posted November 27, 2007 Report Share Posted November 27, 2007 I 2nd kasikorn as a viable bank to xfer inward remittances from overseas at onshore rate & few hassles ;-) Currently 50.xx thb per eur & raising :-)) Link to comment Share on other sites More sharing options...
Tiger Moth Posted November 28, 2007 Report Share Posted November 28, 2007 I now live in Pattaya and opened an account with HSBC Offshore. It was a horrendous process requiring 3 proofs of address. While making all sorts of claims about their global capabilities, they operate like a local English bank. Thus, their proof of address assumes your situation is the same as those living in England. So, for proof of address you can use your electric bill, your water bill, etc. But,living in Thailand, in a Serviced Apartment like I do, one does not have an electric bill, water bill, etc. These are paid to the Serviced Apartment (so that you can be ripped off with an add on charge). Anyway, I ended up having to get a Thai driver's license, a Statement from my bank that included my address (normally the statement does not include your address and I had to beg) and statements from my Serviced Apartment. The driver's license had to be translated from Thai to English as did the bank statement and everything had to be notarized. It took me about 2 months. Fortunately for me it was worth it as my account is in Euros and I my account has increased in value by almost 10% in 2 months vs US$. There was one additional stupid problem. I couldn't access my funds since HSBC provides Debit card access only for US$ and British Pounds but not Euros. So, I had to open an additonal British Pound account (which just required a phone call to my Relationship Manager). I transferred a relatively small amount from my Euro account to my British Pound account and now have ATM access to funds. Someone had previously posted that if one uses an HSBC ATM, one receives the offshore lower rate. But, if one uses a non HSBC ATM, one receives the higher onshore rate. Link to comment Share on other sites More sharing options...
WorldFun Posted November 28, 2007 Report Share Posted November 28, 2007 one can get eur accounts with any thai bank as well, but obviously getting an eur atm/debit/credit is virtually impossible outside eur countries unfortunately Link to comment Share on other sites More sharing options...
frede Posted November 28, 2007 Author Report Share Posted November 28, 2007 Some background, I have a large wedge in HSBC Premier UK and offshore. I also have about8 high interest bonds and a couple of mortgages, one paid, one running at abount 30K. I have remitted about 200K to HSBC each year for a couple of years so they kiss my arse like. Anyways, Im in the process of opening an account in Thailand SO this banking sort calls me up, a 'computer says no' bird. They email me over all the HSBC Thailand bits and bobs all filled out for me to check. Lovely. I never reasd terms and conditions from banks in the UK - its all the same, they are fucking you. Im a bit bored so I read the HSBC first paragraph, governed by Thai law!!! ....As I dont have a residence permit the account pays no interest and I have to pay them 1500THB for the honour of having a premier! So the upshot is I pay THEM 1500THB I deposit 3,000,000 THB and I get ZERO interest. As the Mrs said......'Fucking cunks' , no darling it's 'cunts' ..... OK then, she says, 'fucking idiots' I have to agree Link to comment Share on other sites More sharing options...
WorldFun Posted November 29, 2007 Report Share Posted November 29, 2007 so most banks are cunts and your point was? Link to comment Share on other sites More sharing options...
frede Posted November 30, 2007 Author Report Share Posted November 30, 2007 Fookin hell mate - do you need a dot to dot. Where else would they expect you to drop 45,000GBP for sod all interest and you end up paying them? Link to comment Share on other sites More sharing options...
cavanami Posted November 30, 2007 Report Share Posted November 30, 2007 I, for one, have not figured out the bank account interest in Thailand. One moonth I get interest, the next month i don't. I went into the bank as ask and they told me "...you have an internet (access) account, so no interest...". Whatever that means. Then why do I get interest sometimes? the account doesn't change as I always have internet access to it Link to comment Share on other sites More sharing options...
Mekong Posted November 30, 2007 Report Share Posted November 30, 2007 As a foreigner Thai bank accounts are not much better than keeping it in a shoebox under your bed, it earns no interest and is at risk. The way I use them is as an "Electronic Wallet", handy to have on tap but you dont keep too much in it. Keep the capital in a safer / more profitable enviroment and make transfers as and when required. I should think every offshore account now offers internet banking where you can juggle your finances from afar and divert a little into the E-Wallet. With Thai Savings accounts (Sic! 0% Interest) BKK Bank ATM Card is Cirrus Plus, which has worked everywhere I have been the last few years and my Kasikorn card is also a Visa Electron Debit Card. my Link to comment Share on other sites More sharing options...
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