Opening Kasikornbank e-savingsaccount

[themosch]

After my last trip in november 09 i did a little calculating for my holiday expenses and was shocked to see how much money i loose when using my farang-visacard in LOS. Whith ATM-fee,homebank-withdrawing-costs and an exchangerate of almost 1 Baht below the cash-exchangerate in LOS it's a total ripp-off.

That's when i decided to finally open a Thai-bankaccount with ATMcard and internetacces at Kasikorn in my upcomingtrip next Songkhran.

I read that opening in Pattaya, Bangkok and Phuket isn't a problem as a tourist so nonresident, but as my next trip begins with a 2 hour-stopover at BKK airport before heading to ChiangMai for 6 days and Phuket for 2 weeks and finally stop in Bangkok for 3 days I will be carrying a lot of cash next time for my expenses instead of visacard!

 

So does anyone know if i can open a bankaccount at the airport?

Or is it in Chiangmai as easy as in BKK, Pattaya to open an account?

 

As i really don't want to wait until i will be in Phuket to open an account as i am not keen on a hotelsafe or carrying my cash always with me!

Thanks for the info!

[American Psycho]

After reading an earlier post, I opened an account this past Monday at the branch in Central City Bangna. It literally took no more than 10 minutes. They copied my passport. I filled out a 1 page form, got my bank book and debit card right there, then they walked me to the ATM to change my pin...done. The following day I received an email with instructions for online banking. My guess is that any full service location should be able to process without any problem. Like you I was fed up with my American bank ripping me off.

[Temujin]

Here is a listing of branches if that's any help?

 

K-Bank Branches

 

There appears to be one in the Central Airport Plaza in Chang Mai.

Edited January 7, 2010 by Temujin

[themosch]

Here is a listing of branches if that's any help?

 

K-Bank Branches

 

There appears to be one in the Central Airport Plaza in Chang Mai.

 

This branch isn't really in the airport but in a shopping center named central airport plaza. But your link did show me the addresses in Chiangmai. So thanks. But i could't see any branch at Suvarmnabumi airport. So still searching! As CM is my second choice

[Al.]

I could be wrong but I don't think there are any actual branches that you could open an account at in the airport. They are really just counters for exchanging money.

 

Be aware also that in Thailand for some unknown reason (to me at least) the banks operate in regions. For instance If you have an account with a branch of SCB in Pattaya withdraws from SCB ATMs in Pattaya are free, also paying money in at any Pattaya branch is free if however if you go to another part of Thailand withdraws from SCB ATM's cost 20 Baht. You also have to pay a fee when paying money in at a branch of SCB outside of the Pattaya area it's almost as if it were a different bank altogether.

 

As far as I am aware all the banks operate the same way which is why I have accounts in Pattaya, Udon Thani & Bangkok it's not just the fees as I would hate to lose a Pattaya ATM card in say Udon then go to the Bank only for them to say I have to go to a Pattaya branch for a new one. (again I could be wrong)

 

I used to live in Udon Thani & Bangkok now Pattaya which is the main reason for having the 3 accounts.

 

Al.

Edited January 10, 2010 by Al.

[themosch]

Be aware also that in Thailand for some unknown reason (to me at least) the banks operate in regions. For instance If you have an account with a branch of SCB in Pattaya withdraws from SCB ATMs in Pattaya are free, also paying money in at any Pattaya branch is free if however if you go to another part of Thailand withdraws from SCB ATM's cost 20 Baht. You also have to pay a fee when paying money in at a branch of SCB outside of the Pattaya area it's almost as if it were a different bank altogether.

 

As far as I am aware all the banks operate the same way which is why I have accounts in Pattaya, Udon Thani & Bangkok it's not just the fees as I would hate to lose a Pattaya ATM card in say Udon then go to the Bank only for them to say I have to go to a Pattaya branch for a new one. (again I could be wrong)

 

I used to live in Udon Thani & Bangkok now Pattaya which is the main reason for having the 3 accounts.

 

Al.

 

Damn that's no good if this is true. As i am travelling around this time, Chiangmai + Phuket + Bangkok, so i need to pay fees constantly when withdrawing at ATM's. I thought that one bank would give free withdrawels in the entire country, no! So i need to reconsider opening an account afterall, maybe postpone until next trip to Pattaya before opening any account at all!

[themosch]

 

Be aware also that in Thailand for some unknown reason (to me at least) the banks operate in regions. Pattaya branch is free if however if you go to another part of Thailand withdraws from SCB ATM's cost 20 Baht.

 

 

Same for Kasikorn Bank as i got this email back on my inquiery about opening an account:

 

According to your enquiry about opening an account, I would like to inform you that you can open an account as a foreigner but you have to open at Kasikornbank branch in Thailand only as the original form must be signed in the presence of an official of the Bank.

 

If you interested to open an account and want to apply ATM card when you visit Thailand, I would like to recommend you to open saving account. You can go to K-Bank branch that you are convenient with the required documents as follow:

- Your Passport

- Work permit / Document that shows the address in Thailand

** If you are a traveler or businessman and do not live in Thailand, the approval is depends on the authority of Kbank branch.

 

The minimum deposit for opening account is 500 Baht. You can also apply for ATM Debit Card, the entrance fee is 100 baht and the annual fee is 200 baht. For more information about Saving Deposits account and K-Debit Card, please click this link..

http://www.kasikornbank.com/EN/Personal/BankAccounts/Saving/Pages/SavingDeposits.aspx

And, http://www.kasikornbank.com/EN/Personal/Cards/Debit/Pages/KDebit.aspx

 

Referring that if you open the account in Bangkok and have got the ATM card, there is no fee for withdrawals within the same clearing district, but please kindly be informed that to withdraw money from ATM outside Bangkok, Kasikornbank will charge you as following fees;

- Withdrawal via K-ATM

o Baht 10 for every Baht 10,000 withdrawal across other clearing districts (a minimum of Baht 10 per transaction)

- Withdrawal via other banks' ATM machine within ATM POOL

o Baht 10 for every Baht 10,000 withdrawal across other clearing districts (a minimum of Baht 10 per transaction), plus Baht 10 for calling fee

 

If over five or more withdrawals are made via other banks' ATMs within ATM Pool, the Bank will charge an additional fees of 5 baht on the 5th transaction or over of each month onward, except for inter-bank funds transfer.

 

Thank you very much for your interest in deposits product. If you need to know for more details, please do not hesitate to contact K-Contact Center at Tel. (66) 2888 8800 or email us at [email protected]

 

KASIKORNBANKGROUP Towards Service Excellence

 

Best Regards,

Maylada Pootisirakorn

K-Contact Center

KASIKORNBANK GROUP

 

But 10 Baht for a 10000 withdrawel is still better as a fee of 150 for a farang visacard + the ridiculous exchange-rate on my visa !!!

[ricardobucky]

Ok so i normally play safe bring half my money on my bank card, and half in travelers cheques.

 

So if i were to open thai account, the way i would be operating this would be to bring Sterling cash and deposit it tom my account on arrival, is this worth doing, what money will i save.

 

How about a bank transfer from my UK bank to my new thai account, what will this cost?

 

Any info welcome

[ricardobucky]

[themosch]

Ok so i normally play safe bring half my money on my bank card, and half in travelers cheques.

 

So if i were to open thai account, the way i would be operating this would be to bring Sterling cash and deposit it tom my account on arrival, is this worth doing, what money will i save.

 

How about a bank transfer from my UK bank to my new thai account, what will this cost?

 

Any info welcome

 

each withdrawel with farang creditcard at ATM cost you +- 400 baht homebank-fee and 150 Baht ATM-fee and you get a ridiculous exchangerate on your creditcard-bill. In my case last november 2009 it costed me each 100 Baht i spended about 5 Baht for my visacardexpenses. The other option carrying all in cash and saving it in your room to exchange cash when needed is a possibility. But also very risky.

So opening a Thai account for 200 Baht (and no fee at ATM when withdrawel in same district or fee of 10 Baht in other provinces is much better) is the only option and a save option as you can withdraw every day instead of large sums at once! Transfer money from home to Thai account or depositing cash on account when in Thailand are both new for me but the exchangerates won't be too far of the rates at exchangeoffices!!

[furryman]

I have been watching the different threads on this topic and I am pretty convinced opening an account with K-bank is a great way to go for regular travelers. I plan on doing it on my next trip.

 

From what I understand you can bring the majority of your funds as traveler's checks and simply deposit those into the account when you open it. Plus, traveler's checks get a slightly better exchange rate than cash.

 

You want to think ahead of time where you will be spending most of your time in Thailand over the years and open the account there, although the fees for out of area withdrawals are minuscule (10-15 Baht) compared to the fleecing one gets for using out of country banks (300 Baht + $3 usd with my bank)

 

Once the account is set up, then money can be telex transferred ahead of your next trip at an even better exchange rate than traveler's checks get. The USD-THB rates right now from this page are $100 bill=32.75 Travelers Checks=32.91 Telex=33.01

 

One thing to watch out for IMO is the same thing you would want to watch for using any ATM in Thailand, cloners. As others have mentioned before, pick your ATM carefully and poke at the place where you insert the card, the cloneing device can be made to look like part of the ATM.

Edited February 2, 2010 by furryman

[themosch]

I am pretty convinced opening an account with K-bank is a great way to go for regular travelers.

 

Once the account is set up, then money can be telex transferred ahead of your next trip at an even better exchange rate than traveler's checks get.

 

pick your ATM carefully and poke at the place where you insert the card, the cloneing device can be made to look like part of the ATM.

 

I totally agree. Great comments!

[how122255]

I opened a account at Kasikorn bank in Pattaya. It was a fast and easy transaction. Faster than in the USA and they asked for only my passport. Then sign-up for online banking, although I find that Siam bank has a better online website.