Best bank to use

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CBinmore
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Best bank to use

Post by CBinmore » Wed Jul 18, 2018 9:51 am

Hi guys,

We are planning to retire to the Hua Hin area early next year.

1/ Which bank would you recommend for local and UK international banking.
2/ What would we need to open an account?
3/How long does it normally take

Thank you.

Colin Binmore.

Takiap
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Re: Best bank to use

Post by Takiap » Wed Jul 18, 2018 10:20 am

I don't know how they compare to other banks as far as international banking is concerned, but other than that, I have never found reason to complain about Kasikorn bank. If you open an account with them, I would suggest doing so at their branch at Market Village or the biggish branch on the main road, a 100 or so meters north of the Esso filling station, but on the opposite side of the road.

When I have opened accounts with them, they only wanted my passport, an address in Thailand, and a minimum deposit of 500 baht. If you want an ATM card then that will also cost a few hundred baht.

My experience with Krungsi Bank has been identical as well.

:cheers:
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CBinmore
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Re: Best bank to use

Post by CBinmore » Wed Jul 18, 2018 6:08 pm

Takiap
Thank you for your response.

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buksida
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Re: Best bank to use

Post by buksida » Wed Jul 18, 2018 6:11 pm

There are many topics on banks in this section, have a read through some of the recommendations.
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moater
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Re: Best bank to use

Post by moater » Thu Jul 19, 2018 3:12 am

I have a bunch of accounts in different banks here and the best fees wise has been TMB. It must be the most reasonable bank in Thailand. I'm using it almost exclusively now.

One of my pet peeves here has been the habit of banks to charge around 15-25 baht per withdrawal if you happen to be outside of your "region". E.g. if you opened an account in KTB Hua Hin (Prachuap Khirikhan province) and then drove a few minutes north to Cha-am (Petchaburi province) and decided to withdraw from KTB there, you would be charged 15 baht extra. Why? Because they can. Depositing in a different region is even worse fee-wise.

TMB is the only bank that doesn't play the silly region games. All withdrawals and even deposits are free everywhere in Thailand. You don't need to get a special debit card or pay extra, they just don't charge anything.

They also offer the best deal for a debit card - 200 baht for 5 years, no annual fee. That's 40 baht a year, while the standard at competitors is at least 200 a year.

BTW, banks offer an expensive version of their debit card (350-400 baht annually) that lets you withdraw for free from any bank anywhere in Thailand. Not a good deal IMO.

These are all obviously just micro-optimizations, but I do get a strange sense of satisfaction whenever fees are zero.

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Re: Best bank to use

Post by NOKYAI » Thu Jul 19, 2018 9:09 am

There are also cards with other banks that offer accident insurance (KTB Bank) which for a small fee have worked well for me.
Now semi retired 60:40 Thailand: UK ( seems to be working well)

hin
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Re: Best bank to use

Post by hin » Thu Jul 19, 2018 11:34 am

TMB also consistantly gives the best exchange rates. Among banks - other than money changers.https://daytodaydata.net/

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