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Thread: Best bank in LoS

  1. #1
    Senior Member nelsonone's Avatar
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    Best bank in LoS

    I've only ever used Kassikorn here...started up an account with them....no questions asked back in the days when I was just a frequent visitor here ..they have always been fine with me....a few weeks back they even offered me a credit card provided I take out a 150K one year term deposit at a tick over 3%...didn't sound like too bad a deal actually

    anyway I took my mate into my local Lamai Samui Branch the other day....he was on a proper 90 day tourist visa and they would only offer him an account if he had a work permit OR would buy accident insurance from them for 2500 baht a year...needless to say we walked

    anyone else had an experience like this...I almost think it was a local drive kinda thing?

    so what bank are you with....and are you happy with them

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    Quote Originally Posted by nelsonone View Post
    I've only ever used Kassikorn here...started up an account with them....no questions asked back in the days when I was just a frequent visitor here ..they have always been fine with me....a few weeks back they even offered me a credit card provided I take out a 150K one year term deposit at a tick over 3%...didn't sound like too bad a deal actually

    anyway I took my mate into my local Lamai Samui Branch the other day....he was on a proper 90 day tourist visa and they would only offer him an account if he had a work permit OR would buy accident insurance from them for 2500 baht a year...needless to say we walked

    anyone else had an experience like this...I almost think it was a local drive kinda thing?

    so what bank are you with....and are you happy with them
    I opened an account (with ATM card and internet bank) in Kasikorn Bank June last year, I had only Visa on arrival when I opened this account.


    In December I wanted to open one more account so that I don't have so much money on my ATM account, this time they asked me about my visa, but since I already had an account with them they let me open this account also on a visa on arrival.

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    Opened an account with Kasikorn in Junkceylon last November. Had a "o" visum. Adres: hotel where I stayed at that moment.
    Tried first to open in Siam commercial: no way

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    Senior Member Geespot's Avatar
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    Nels all k bank branches are effectively franchises, that's why outside changwat atm charges apply etc. Each branch will apply or ignore the rules as they see fit in order to build customer base and thus generate revenue

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    I had the same when i opened my account in SCB. Had to buy the insurance. 2900B i think it was.
    When it expired recently they sent me an offer to renew. This year it was called "Accident insurance for foreigners" and the price had doubled, i think 5 or 6K. Same insurance as before, 100K accident cover etc.

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    Speaking of Thai banks, be careful to not have more than you can afford to loose on an account connected to an ATM card.
    I lost 265K in CC fraud a couple of years ago on my Krung Thai visa card. Just finished in court recently against the bank and I lost.. My problem. Not the banks responsibility.

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    Senior Member soupdragon's Avatar
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    I opened a Kasikorn account in Kamala in February, actually I should say reopened as I had an account with them for many years but I didn't use it so the account was closed and the funds forfeited. In my case the funds was a couple of thousand I left in there to keep the account open but without any contact with me it was closed. So if you don't plan to keep the account ticking over then ask the bank how long the account will be kept current before it is shut down.

    Anyway the new account was opened with just my passport and 1000 baht, no insurance extras bolted on.

    Major Tom makes a valid point, I had my ATM card cloned in Thailand not so long back but luckily it was an HSBC card and their security systems picked up strange activity and cancelled the card before I lost any money. There was a case recently where someone used a Thai bank ATM card in Kamala and less than an hour later a clone of the card was used in Issan. Due to lack of sophistication in the security this impossible event wasn't picked up by the bank and a large amount was withdrawn fraudulently. Not sure what the final result was but I wouldn't be too hopeful the bank will stand the loss, as was the case with MT. In a nutshell be very wary of using ATMs in Thailand as the skimmers are active.

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    Senior Member marc26's Avatar
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    Quote Originally Posted by MajorTom View Post
    Speaking of Thai banks, be careful to not have more than you can afford to loose on an account connected to an ATM card.
    I lost 265K in CC fraud a couple of years ago on my Krung Thai visa card. Just finished in court recently against the bank and I lost.. My problem. Not the banks responsibility.
    wow
    what reason did they give you?

    my 1st trip to Thailand i got 10kusd taken from my Bank of America account
    i had to fill out a police report in the city i lived in but besides that, i got the 10k back in a week

  9. #9
    Yes
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    I am with Kasikorn...chose it because they were easy to open with...(some wanted references from 2 Thai nationals.)
    No problems with them..last year when I had to season retirement money,I went with Bangkok bank,they offered 3.25% for 5 months term,it seemed worth it to have to take the other 2 months more than needed.
    I think K bank would have been about 1.25% for 3 months

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    Senior Member nelsonone's Avatar
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    Quote Originally Posted by Geespot View Post
    Nels all k bank branches are effectively franchises, that's why outside changwat atm charges apply etc. Each branch will apply or ignore the rules as they see fit in order to build customer base and thus generate revenue
    thanks G...that's good info to know....

    this branch has been very helpful up to this point....they even gave me a "statement of funds' letter for immigration despite my account being with Jungceylon branch in HKT...very strange especially as my friend was about to drop a milliom baht in there

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    Super Moderator LivinLOS's Avatar
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    Quote Originally Posted by Geespot View Post
    Nels all k bank branches are effectively franchises, that's why outside changwat atm charges apply etc. Each branch will apply or ignore the rules as they see fit in order to build customer base and thus generate revenue
    ^^ Exactly this..

    Also if your claiming to open an account to send large deposits in (doesnt have to be true) they tend to suddenly find what you need..

    One thing my K-Bank does that annoys me, is they have regular ATM cards (maybe 100b) and the 'special' ATM cards with accident insurance and stuff attached which seem to be 500 (they have a new one thats 800 I think) and they always seem to have 'run out' of the budget ones.. I have a spread of different accounts for different purposes and security of keeping used ATM cards on low balance accounts, and feel a bit miffed when they try this trick on me. Then again I kicked up a stink wanting a safe deposit box and my local branch went to bat for me, worked hard, and found me one in the city HQ so swings and roundabouts.

    Complaints aside K-Bank has great online banking, SMS balance notifications, mobile phone apps, and country wide service. Really I think them or Bangkok bank are the best farang friendly ones, but I had a poor experience in Patong with bangkok bank so they lost me. would guess it was just a one off local issue.

  12. #12
    Super Moderator LivinLOS's Avatar
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    Quote Originally Posted by MajorTom View Post
    Speaking of Thai banks, be careful to not have more than you can afford to loose on an account connected to an ATM card.
    I lost 265K in CC fraud a couple of years ago on my Krung Thai visa card. Just finished in court recently against the bank and I lost.. My problem. Not the banks responsibility.
    Yeah theres very little consumer protection here.. A buddy lost over 100k and the bank even refused to look into it.. The police refused to go speak to the bank for him, it was just a total blank.

  13. #13
    Senior Member Geespot's Avatar
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    One of my biggest pain in the arse savers is the 1-2 call auto top up which one you reach a minimum phone credit balance auto top ups your phone with a set amount debited from your k bank. You can set this up at k bank atm

  14. #14
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    Sef & Gee covered the ground and Major Tom's story is a nasty warning.

    Likewise I keep pretty small balance on accounts with ATM and for bill paying. Investment accounts have no ATM cards at all.

    As far as bank strength - Bangkok Bank is on top and HSBC the strongest foreign bank - this data from Wiki from 2007 -

    Rank Name Total Asset
    1 Bangkok Bank US$ 55.0 billion[1]
    2 Krungthai Bank (56% owned by Thai government) US$ 38.1 billion
    3 Siam Commercial Bank US$ 40.0 billion[2]
    4 Kasikorn Bank US$ 30.8 billion[3]
    5 TMB Bank (30% owned by ING, 7% DBS, 26% Thai Ministry of Finance, 2% Thai military) US$ 25.7 billion
    6 Bank of Ayudhya US$ 21.2 billion
    7 Kiatnakin Bank US$ 18.1 billion
    8 Siam City Bank (99% owned by Thanachart Bank and to be merged with Thanachart Bank) US$ 13.5 billion
    9 Thanachart Bank (49% subsidiary of Scotiabank of Canada) US$ 8.4 billion
    10 CIMB Thai (subsidiary of CIMB of Malaysia) US$ 8.2 billion
    11 Standard Chartered Bank (Thai) (subsidiary of Standard Chartered Bank of the UK) US$ 6.1 billion
    12 United Overseas Bank (Thai) (subsidiary of UOB of Singapore) US$ 5.9 billion
    13 Tisco Bank US$ 3.4 billion
    14 ICBC Bank (subsidiary of ICBC of China) US$ 2.1 billion
    15 Mega ICB (subsidiary of Mega ICB of Taiwan) US$ 0.4 billion
    Its My Life .....!

  15. #15
    Senior Member geir's Avatar
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    I've had no problems with Siam Commercial Bank. Still got the branch in Phuket, but are now using the small branch in Tesco Ranong.... Always very helpful and friendly, but they seem to use ages to exchange foreign currencies.

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    Yes
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    @ geespot that a a good thing to know about 1 2 call top up ,thanks

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    Siam Commercial also has the 1-2-call top up option. Thats actually the main reason i got the account there.

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    Quote Originally Posted by marc26 View Post
    wow
    what reason did they give you?

    my 1st trip to Thailand i got 10kusd taken from my Bank of America account
    i had to fill out a police report in the city i lived in but besides that, i got the 10k back in a week
    I had had been negligent since someone managed to copy my card / or i could have done this on purpose to make the claim, is what the verdict said.

  19. #19
    Senior Member Geespot's Avatar
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    Quote Originally Posted by MajorTom View Post
    Siam Commercial also has the 1-2-call top up option. Thats actually the main reason i got the account there.
    No more going into 7 elevens for top ups.................bliss!!

  20. #20
    Senior Member Robaht's Avatar
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    I use Bangkok Bank since it is easy to transfer money from USA to the Bangkok Bank in NY and they credit my account here in Bangkok. Quick transfer and good exchange rate, only domestic Wire fees too.

    Every now and then I get stuck with having to withdraw from the ATM using a foreign card (same reasons as above I keep low balances on my ATM access accounts) and I can't believe people have stopped complaining about the 150 baht fee! That is a $5 charge here, a $5 charge in USA and then the exchange rate! I guess all the banks have long since converted to applying the charge.

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