Bank account

Post by **mack** » Fri Nov 05, 2004 5:34 pm

Guys

Could someone tell me what's required to open a Thai bank account, looking for a current account type account with a ATM card, not bothered about interest etc as only looking at putting and keeping it at about a 1000 GBP for paying small bills in Thailand and useing it for beer money

Many thanks

Mark

Post by **Gin tonic - no lime** » Sat Nov 06, 2004 1:50 am

Yes, great question, I also want to start an account in Hua Hin this time over (dec. - Jan.) Would appreciate recommendations on which Bank to use. I have very few Thai language skills...!!

Post by **cockneyrebel** » Sat Nov 06, 2004 5:21 am

Hi Both,
I opened a bank account just before I left HH last May. I used the Bangkok Bank on Phetchkasem Road, mainly because friends of mine use it and recommended it.
All I had to do was show my passport, pay some money in (I paid 1000 baht) and that was that. I also got an ATM card, (that cost 100 baht,) and a bank book for my transactions.
They speak excellent English in there (as most banks do in HH), and I found them most helpful.

Post by **Gin tonic - no lime** » Sat Nov 06, 2004 5:38 am

Great, that's too easy....

Thanks for the scoop cockneyrebel !1

Post by **ianjames** » Sat Nov 06, 2004 7:05 am

what kind of address did you give them????

Post by **mack** » Sat Nov 06, 2004 10:32 am

Cheers, sounds good to me.

One other question, how long does it normally take for money to clear if its been sent from overseas into a Thai bank?

Thanks again

Post by **totster** » Sat Nov 06, 2004 6:39 pm

When I send money to Bangkok Bank from my Lloyds account in UK it takes 2-3 days.

totster

Post by **cockneyrebel** » Sun Nov 07, 2004 4:25 am

ianjames: I gave the Condochain as my address as I was staying there at the time, there were no problems;

mack: I've sent money to my partner's bank account in HH (a different bank) from the UK and it does take 2/3 days, but you can send it via Western Union quicker, but it costs a bit more. It all depends how quick you need the funds to get there.

Post by **lomuamart** » Sun Nov 07, 2004 5:56 pm

Just one question.
If you want a bank account to pay small bills etc, why bring money to Thailand in the first place? I've been here for 6.5 yrs and never have.
Just use the ATM and it's direct out of your UK account. OK, there's a charge in the Uk - I pay 100 Baht to good old Barclays each time I use the ATM - but I simply take larger amounts so there's no real loss.
Time of transfers, I'll be advised by, but I have heard horror stories of money being kept at head office in BKK for 7-10 days. A transfer will always cost you money in the Uk as well. IE 20 pounds to send over 500 or 10,000 Baht.
Personally, I'll keep whatever small amount I have back home. Makes financial sense for me.

Post by **tonychang** » Sun Nov 07, 2004 6:44 pm

I too used my UK ATM card for 2 years with no problems and paid about Â£2 per transaction and that way you get that days exchange rate.It is also wise to take a few quid in travellers cheques as back up incase you lose the card .As far as transfers for the sick buffalo fund...well I wouldnt know about that one

A mate of mine used a local bank when he bought a house in HH but the bank conviently lost any record of him when it got sold out from under him by his ex. Also I've been led to believe that fararngs dont get the same interest rates as Thais....is this true?(I've been told its the same with the SET).

Post by **mack** » Mon Nov 08, 2004 10:45 am

Thanks for all the info, much appreciated!!

The reasons I want to set up a Thai account is I have just bought a house in HH but will only be there about 2-3 month a year so I need a small account to pay, public fee, gardener bills, maintenance etc when Iâ€™m not there. The other reason was just to have another card in case my UK ones donâ€™t work sometimes when i'm in Thailand

Out of curiosity is there much credit card fraud etc in Thailand, I use my cards quite a bit but only really at big shops / hotel chains

Cheers

Post by **lomuamart** » Mon Nov 08, 2004 2:00 pm

A number of years ago, Amex rated Thailand as its worst country for fraud. I think the situation has now improved and you should certainly be OK in hotel chains and large department stores.
It's in the smaller outlets, when you may let your card out of your sight, that the problems can occur.

Post by **Jimsknight** » Wed Nov 17, 2004 10:50 am

Tony Changs post reminded of when I stuck exactly 54K into my Bank of Ayudhaya account. A year later when I returned ...exactly 54K was still in it! Not one satang of an increase.

Cheers for that one B of A!

Needless to say I only keep small amounts in now!

Still one expat from the PI said out there they remove money from your account while you're away

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