Banking in LOS

Post by **sandman67** » Wed Nov 14, 2007 5:03 pm

My mate Colin told me that the green bank (Kasathorn?) near the cop shop allow farangs to open accounts with them.

Can anyone confirm this as true before I go down there?

Thanks

Post by **T.I.G.R.** » Wed Nov 14, 2007 5:43 pm

I have an account with K Bank at Market Village.....I may be sticking my foot in it but I believe a farang can open an account at any of the local banks.

Post by **HHTel** » Wed Nov 14, 2007 5:50 pm

I have accounts in 3 banks in Hua Hin. Never had a problem. Some years ago it was a little more difficult but now - easy.

Post by **niggle** » Wed Nov 14, 2007 7:40 pm

Most banks will now alow farangs to open accounts. No problems

Post by **Condoking** » Wed Nov 14, 2007 11:40 pm

Some friends of mine had problems at bangkok Bank, HH branch, they wanted all sorts of evidence etc. They went to Bank of Siam and walked out about an hour later with an account plus ATM card etc.

Post by **Len** » Thu Nov 15, 2007 2:16 am

I have an account with the Bank of Siam and it is totally hassle free.
Fantastic staff and always happy to assist.

Post by **lomuamart** » Thu Nov 15, 2007 2:32 am

The problem with opening up a Thai bank account a few years ago was that they wanted to see a Work Permit to do so.
Idiots!!!!
As has been said already this edict has pretty much been forgotten. If you don't get satisfaction - with proof that you're bringing the money from overseas - tell them to stuff it and just walk around.
How to encourage money from a western country.
Children!!!

Post by **Roel** » Thu Nov 15, 2007 8:43 am

As already mentioned here it was more difficult a few years ago. Nowadays refusals are rare, but still happen from time to time. Differs from branch to branch and even from employee to employee.

Reason for the change in policy was the introduction of the zero percent interest on accounts in a farang name.

Post by **ADW** » Thu Nov 15, 2007 2:36 pm

I've had a bank account with Siam Commercial Bank for about 5 years now.
They have always been fantastic and I get interest twice a year! The rate is not very good, but its better than nothing!

Post by **Roel** » Thu Nov 15, 2007 2:59 pm

I receive interest twice a year in my old account with Bangkok Bank (opened it in 1995) too. Maybe I am grandfathered. Better not wake up the sleeping dogs!

Recently I had to open a new account with Krung Thai (my employer's bank) and I get no interest on that one.
Saw it even signposted in a bank lately. The table with interest rates on the wall was entirely in Thai except for one line: "Alien account 0%"

Post by **lomuamart** » Thu Nov 15, 2007 3:22 pm

You've said it all Roel,
We want your money, but we'll give you nothing back for it. And BTW, we'd like to see 800K sitting in an idle bank account here for three months at least, or you don't get your retirement extension. (There's an income option as well that dosn't apply in the above scenario).
And, if you want to transfer over 20K USD, we'll withhold 30% of it for a year, with no interest given to you - unless you purposefully show it's to buy property.
Thailand really knows how to attract foreign investment.

I might have got some of that wrong, but that's the general gist of things as I see them.
Please tell me I'm wrong.

Post by **sandman67** » Fri Nov 16, 2007 4:17 pm

Hey guys

thanks for the replies - most helpful

the not getting paid interest is, well, of no interest (sorry its a crap pun). I dont pay taxes here so I guess in the big scheme it all evens out......and from what I can gather a lot of us semi-residents (ones who dont have residency) dont either.....all swings and roundabouts. Anyway, I think the most interest I ever earned back in the UK was about a hundred quid in a year......I look on money as for spending not saving.....

will go off and get a bank account then

thanks for the help folks

Post by **sandman67** » Wed Nov 28, 2007 4:03 pm

Update in this

Tried the Siam Commercial bank - they said Mai Dai unless I had a yellow book or a work permit.

Seems Kasikorn is the best option

Post by **johnnyk** » Thu Nov 29, 2007 12:30 am

sandman67 wrote:Hey guys

thanks for the replies - most helpful

the not getting paid interest is, well, of no interest (sorry its a crap pun). I dont pay taxes here so I guess in the big scheme it all evens out......and from what I can gather a lot of us semi-residents (ones who dont have residency) dont either.....all swings and roundabouts. Anyway, I think the most interest I ever earned back in the UK was about a hundred quid in a year......I look on money as for spending not saving.....

will go off and get a bank account then

thanks for the help folks

Agree with you, western banks are chiselers too.
Sure you get a misearable 4% (if you're lucky) but that is clawed back by all sorts of service charges that effectively net you little or nothing for the privilage of lending them your dosh.
A pox on all of them, in every country!

Post by **nightstalker** » Thu Nov 29, 2007 11:07 am

since Jan this year, kasikorn has been paying interest, varying rates, on savings accounts.
They had some good offers before on 90 day accounts too.

Stay clear of Bangkok bank, to my experience every time you go to a branch, very unhelpful and rule changes by the day.