Jump to content

Best Thai Bank for Foreigners?


Dart12

Recommended Posts

Find out which Thai bank is your home bank's agent. Try and open up an account with that Thai bank. You will get your funds a lot quicker.

 

To give you an example. My UK bank uses Bangkok Bank as it's agent. All monies sent from my UK bank to Thailand gets sent to Bangkok Bank. If your Thai bank is say Krung Thai, then, Bangkok Bank transfers the money there. If you use Bangkok Bank as the final destination, it takes less than 24 hours to be credited to your account. Another Thai bank takes two to three days.

Edited by KarenBravo
  • Like 2
Link to comment
Share on other sites

Bangkok Bank has worked for me.  Many branches said no, so I traveled to Pattaya and they said yes.  They have a branch in New York City, so you can make a domestic transfer.  For Americans, this is very convenient.  You can set up direct deposit, from U.S. sources, etc.  

  • Like 2
Link to comment
Share on other sites

2 hours ago, 86Tiger said:

 

I take that back, one complaint:  Bangkok Bank went union pay only for debit cards for awhile.  Union Pay isn't accepted every where so if only one card that could be an issue.  I think that is resolved now and they offer Master Card but I am out of country for awhile now and have not tried to sort it for a new card. 

I hated that Union Pay card.  In the UK you can only use it in Barclay's Bank ATMs which was always a massive pain whenever I visited.  Earlier this year I went and asked to change and got a contactless Mastercard version which is infinitely better.  Although not many places in Thailand are accepting contactless payment yet it's brilliant in other countries where it is the norm (Singapore, UK etc).

  • Like 1
Link to comment
Share on other sites

14 hours ago, KarenBravo said:

Find out which Thai bank is your home bank's agent. Try and open up an account with that Thai bank. You will get your funds a lot quicker.

 

To give you an example. My UK bank uses Bangkok Bank as it's agent. All monies sent from my UK bank to Thailand gets sent to Bangkok Bank. If your Thai bank is say Krung Thai, then, Bangkok Bank transfers the money there. If you use Bangkok Bank as the final destination, it takes less than 24 hours to be credited to your account. Another Thai bank takes two to three days.

Are there transfer fee's in this scenario?

I've used wire transfers, and now for the last 6 months have been using Transferwise happily, but if there is a way to eliminate fees altogether that would be great.

Link to comment
Share on other sites

1 hour ago, Dart12 said:

Are there transfer fee's in this scenario?

I've used wire transfers, and now for the last 6 months have been using Transferwise happily, but if there is a way to eliminate fees altogether that would be great.

No, there is a fixed fee of around US$30 per transfer. That is all fees charged by both banks.

I bank with Barclays UK and they charge like a wounded bull.

  • Like 1
Link to comment
Share on other sites

41 minutes ago, KarenBravo said:

No, there is a fixed fee of around US$30 per transfer. That is all fees charged by both banks.

I bank with Barclays UK and they charge like a wounded bull.

You may want to look into transferwise for smallish transfers then.  They are cheaper than that.

BUT I'msure at a certain $$ amount it tips over to being better for that fixed $30 fee.

Transferwise will let you know upfront what your fee is and what your exchange rate is.

So far...seems Bangkok bank might not be the best, but at least a 'can't go wrong with them' choice from most of you.

Thank you for everyone's input, too.  I appreciate it.

  • Thanks 1
Link to comment
Share on other sites

I think all are much for much-ness just depends which branch, which person services you when you do have a problem.

 

I have had Bangkok Bank, Kasnikorn but now us BOA (Krungrsri) for all day to day and business dealings. I find them far more modern, professional and multi lingual than the aforementioned, but that may just be because i use a branch in a large office complex with many of other nationalities

 

With BB they were forever informing me i needed to go to Head office to do this, and head office to do that. I also could not move my account to another branch 2 km away when i changed jobs. I had to close the account and reopen another at the branch 2km down the road.

  • Like 1
Link to comment
Share on other sites

6 hours ago, Dart12 said:

Yes.
 

Some banks won't allow Americans to open accounts because of America's FATCA reporting requirements. Krungsri, SCB, and Bangkok Bank do allow Americans. 

Edited by jessc
typo
  • Like 1
Link to comment
Share on other sites

I’m American and came to Thailand 11 months ago on an education visa. No problem opening up an account with Bangkok bank (With residence certificate) and then setting up TransferWise to send part of my pension every month, which is direct-deposited into my US bank account. There have been zero issues, and I love using to app to pay bills and stuff. 

  • Like 2
Link to comment
Share on other sites

On 9/29/2020 at 1:18 PM, Peter Denis said:

There are other large banks like Government Savings Bank and Khrung Thep Bank, but they cater almost exclusively to Thai customers so more difficult for a foreigner.

 

Khrung Thep Bank ? That's Bangkok Bank

You mean Khrung Thai Bank ?

Edited by daejung
  • Thanks 1
Link to comment
Share on other sites

I started with Bangkok Bank, they still have the 800K on deposit for retirement extensions. I opened an account with Kasikorn when BB made the brain-dead decision to switch to Union Pay. I have a Visa debit card with Kasikorn, and internet.

I can't complain about the level of service from either bank, all good so far.

  • Like 1
Link to comment
Share on other sites

12 hours ago, daejung said:

Khrung Thep Bank ? That's Bangkok Bank

You mean Khrung Thai Bank ?

Sorry, yes indeed I meant Khrung Thai Bank.

My preference is Kasikorn Bank with Bangkok Bank a good second.

The choice for either one of them would depend on the local branch being customer-friendly and within easy reach (and of course whether they are willing to open an account for you).

  • Like 1
Link to comment
Share on other sites

On 9/29/2020 at 6:18 PM, Peter Denis said:

There are other large banks like Government Savings Bank and Khrung Thep Bank, but they cater almost exclusively to Thai customers so more difficult for a foreigner.

I opened last year GSB with only a yellow house book and PinkID. My name on the saving book for GSB is in Thai.
Krungthai I opened about 1.5 years ago as well with yellow house book (but they still wanted to see the passport, maybe check visa or something.) but no information about my passport on their system. At the end I think it's always depends on the branch and not on the bank. Of course there are banks which are more complicated but in general you could open an account with almost every bank (if you find the right branch). In Bangkok I was mostly lucky with opening an account. but of course also have 2-3 draw backs, where they not want to open because of no work-permit.

 

My main bank is Kasikorn, their App is one of the best if have seen here. Have a lot of branch/ATM and their service and other advantages are one of the best for me.

Edited by HampiK
  • Like 2
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...