Frozen Thai bank accounts

[Gaybutton]

I find this purple bank to be very good. But the green and red one is also very good.

They are all good - until they're not . . .

[Jun]

They are all good - until they're not . . .

Rocket appears to have back up options with 3 banks.

That's my approach in the UK, but as a non-resident, another bank account in Thailand will have to wait. It's too difficult at the moment.

[Gaybutton]

another bank account in Thailand will have to wait. It's too difficult at the moment.

This is exactly why for years I have been urging anyone who might eventually need one to get a Thai bank account while they still can. Now it has become extremely difficult for foreigners to get a Thai bank account. I don't even know if visa agents can still get accounts for foreigners, but for some trying a visa agent may be the last resort.

[Rocket]

The paperwork is so crazy at these banks. I must have signed 12 documents to replace my bank book. Imagine trying to go through that mountain of papers to find information.

The new digital arrival card is so much better than filling out the paper, maybe the banks will follow.

[Jun]

The paperwork is so crazy at these banks. I must have signed 12 documents to replace my bank book.

The paperwork just to replace an ATM card is bad enough, at least at my green bank.
I can't imagine the hassle trying to replace my bank book. That normally lives in my home safe #2 or my hotel safe.

Whereas in the UK, I managed to recently open an account with one bank and a credit card with another, with zero paperwork & entirely on line. Both probably in under 20 minutes.
The bank account was opened with their app, so I had to photograph the passport (from the app) & do a selfie video from the app. Naturally they do an online credit check. I did not have existing business with either bank.

I still recommend the Thai online banking. With fingerprint login on the app, it's quite easy to use.
[Dodger will be horrified, but I bet he would like online banking better than travelling home to the US to visit a bank there. ]

[Dodger]

[Dodger will be horrified, but I bet he would like online banking better than travelling home to the US to visit a bank there. ]

You're right, I probably would be horrified, although the sole purpose of my account in the U.S. is to fund my visits home so I don't have to travel with a lot of cash. When this does become necessary I'll be walking in my U.S. Bank and withdrawing the money I need. The same exact way I do it here in Thailand. No internet or mobile banking...just my two feet.

I do have a U.S. Bank ATM but I've never once used it.

It's all in the planning.

Back to topic: It seems like BOT's control over the banking situation is helping. I didn't see the huge mob of disgruntled farang in the big blue bank lobby this last visit which is a good sign. I didn't see any agents either.

If I was a farang planning to retire in Thailand who didn't have the minimum 65k monthly income to satisfy immigration - I would just stick a million baht in a separate Thai bank account and let it remain frozen forever...and call it a day. After seeing what's going on now I'd never rely on help from the agents.

[Gaybutton]

Yesterday I had an incident where I thought one of my bank accounts had been frozen. At an ATM a message came up that my debit card has been suspended.

Oh no! My bank account has been frozen. I went home to fetch my passport and bank book and then went to the bank, but it turned out the problem was merely that my debit card had somehow become defective. They issued a new debit card (after having to sign a ream of documents - typical of Thai banks). The new card is working, but even though their card had become defective, the bank made sure to collect their 130 baht fee for a new debit card. At least the new card doesn't expire until 2032. I just hope I haven't expired by then . . .

[Jun]

Oh no! My bank account has been frozen. I went home to fetch my passport and bank book and then went to the bank, but it turned out the problem was merely that my debit card had somehow become defective. They issued a new debit card (after having to sign a ream of documents - typical of Thai banks). The new card is working, but even though their card had become defective, the bank made sure to collect their 130 baht fee for a new debit card. At least the new card doesn't expire until 2032. I just hope I haven't expired by then . . .

The last time I went to the green bank to renew my card, there was also reams of paperwork. They asked for CASH to collect the fee for the new card. I asked about the annual payment I was already making for the old card & the balance was refunded, to my account. I obtained a receipt for the cash payment, of the electronic variety. So I think it was above board.
It's hard to comprehend such inefficiency in what is supposed to be a competitive private sector business.

For my UK banks, they either send replacement cards to my UK address automatically or I can order them online. No fees. Despite hourly labour costs being far higher than Thailand, I suspect it still costs them less to issue a card than a Thai bank.

However, I'm still glad they don't post cards in Thailand, since I don't have a permanent address (yet).

[travelerjim1]

I’m having tremendous problems with wiring my money from the USA to my account in Thailand.

Opening up a Schwab Bank account in the USA is a WISE decision. They will reimburse you monthly for any ATM fees charged for your using a Thai bank. No minimum balance required. ATM card provided. Apply for the account online and a Schwab Bank officer will call you to verify that you are you.

[Rocket]

I’m having tremendous problems with wiring my money from the USA to my account in Thailand.

Opening up a Schwab Bank account in the USA is a WISE decision. They will reimburse you monthly for any ATM fees charged for your using a Thai bank. No minimum balance required. ATM card provided. Apply for the account online and a Schwab Bank officer will call you to verify that you are you.

Yeah, Schwab is great for travelers. I plan on opening an account with them. I really like Robin Hood also but they don’t offer the reimbursement of atm fees.