PhDEducation

Beware of Bangkok Bank

152 posts in this topic

1 hour ago, mesquite said:

Please give me a link to the Bankok Bank policy you mention.  Where did you read or hear that it is the Bangkok Bank policy (vs USG) to restrict the account?

Please review my posts which quote/reference Social Security POMS/regulations that joint accounts are allowed....also with no mention of not allowing ATM cards, ibanking transfers out, etc.  Therefore, it's Bangkok Bank's policy in the restrictions they impose and while trying to say it's SSA regulations dictating the limitations...that is, deflect the true source of the limitations.  

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12 minutes ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

Mine is paying 1.8% on a 12 month, 1.7% on a 5 month, and 1.5% on savings (no withholding).  Kind of odd how hard it is to get numbers out of people on TVF....

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39 minutes ago, KhonKaenKowboy said:
55 minutes ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

 

39 minutes ago, KhonKaenKowboy said:

Mine is paying 1.8% on a 12 month, 1.7% on a 5 month, and 1.5% on savings (no withholding).  Kind of odd how hard it is to get numbers out of people on TVF....

 

The Kad Suan Kaew branch of Bangkok Bank clearly posts these numbers also.    As does the Bangkok Bank website:  http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/FixedDeposits/Pages/SpecialFixedDeposits.aspx

 

JonWilly, you may not have realized that your account at Bangkok Bank was "Fixed Deposit" account which meant you had committed to keeping the funds on deposit for a certain period of time when you opened the account in order to obtain a certain interest rate.  That's what the ladies were trying to tell you when they said "no move money".  What color was your bankbook?  If it was blue, then you could move your money at any time without a loss of accrued interest, if not then you lost your accrued interest by moving your money before the end of the contractual period.

 

And the answer to "what is the best interest rate I can obtain?"  depends on how long you're willing to tie up your money.  I think they were trying to tell you that you'd already made a commitment with your funds and to come back in three months and ask the question again because the interest rates will be different.  

 

Gheesh, Bangkok Bank has a good website and little research would be good before you go in to ask these questions, esp. if the people in the branch in question don't speak good English -- or if you speak non-standard English or heavily accented English.  (I'm sorry, but the staff at BB-KSK doesn't seem to have problems understanding my well-enunciated midwest U.S. English, but they tell me all the time they can't understand many Aussies or people from the north of England.)

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1 hour ago, jonwilly said:

I am no lover of Bangkok Bank since I moved the bulk of my savings out here, say 8 years ago.

I asked the teller what was the best interest rate I could obtain and she sent me to see, an older but younger than me, woman who had here own cubical in far corner.

She checked my Book, then in answer to my question on Rates Stated You must not move any money from this account for 3 months.

Er but I want best rate for my money, she repeated herself No move money. 

I left annoyed and spoke to a Thai lady who had been in Banking some years before.

She said that some banks the staff shared in a  'Prize' when a  large deposit was made and left for 3 months minimum.

I went following day and closed my account.

Now with UOB for many years and good friendly service.

 

john

 

You asked for the best interest rate, so they offered you a Term Deposit with a higher rate of interest... exactly as you requested... so in response you closed your account... :crazy:

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Assuming a hospital will provide ongoing care to someone with a 20k income no insurance or savings.  And they say the millineals are irresponsible.  Everyone should have a few hundred grand THB here in a bank...would at give breathing room to make a plan.  

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ID: 67   Posted (edited)

2 hours ago, KhonKaenKowboy said:

Wit so many banks in the us doing  free ACH, it clearly seems foolish to leave it up  to the federal government and a foreign bank.  It would be better to control the transfers yourself.  Only doing them quarterly for one thing.  I would bet the people who have become defacto stateless, without even a us account make up the brunt of Nancy's clients and don't get me started on the bogus letters.  I've got three senior us citizens near me...all use the letters, and they barely make 65k between them and have zero in savings.  One told me the SS check deposit is free at bkbank...I have very serious doubts.  Like the 50 THB they charge you on a counter withdrawal; it maynotbe listed, but it is sure as heck incorporated into what shows as the deposit.

The fees for sending in small amounts monthly would be about $11 per month or 132 per year which is significant for someone on a very tight budget.

 

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

Edited by mesquite

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1 hour ago, mesquite said:

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

Edited 1 hour ago by mesquite

Why?

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1 hour ago, mesquite said:

The fees for sending in small amounts monthly would be about $11 per month or 132 per year which is significant for someone on a very tight budget.

 

Regarding the bogus letters, I would love to see the "new management" come down hard on those Americans who give inflated numbers for their letters.  Simply require them to show proof at the Consulate before they issue the letter.  No proof, no letter.  As far as past transgressions go, charge them with perjury and "lock 'em up."

It is not the job of the U.S. gov't to enforce a Thai Imm. rule.  The Aussies, Dutch and other nationalities think the same thing.  

 

All that these consulates/embassies are doing is certifying that the signatures on the documents are valid.

 

Anything more is up to the Thai gov't to enforce their own rules.   I think the "new administration" would agree with this.

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On 1/23/2017 at 11:40 PM, moe666 said:

Never any problem with my Bangkok Bank account and of course I do not have a ATM card, going to bank for withdrawal is inconvient but noworries about being hacked

Ditto - except that I make online transfers to the wife's account and send her down to the ATM whenever I need cash! :smile:

 

On 1/24/2017 at 9:09 AM, sharktooth said:

Switch to Kasikorn. I've been with them for years and I have no complaints. Btw I also have accounts with Lloyds, Santander, HSBC and AFR, but Kasikorn continue to impress me.

Disagree. I switched to Bangkok Bank from Kasikorn after my account with them had been relieved of a significant amount by an ATM fraudster.

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10 hours ago, NancyL said:

The Kad Suan Kaew branch of Bangkok Bank clearly posts these numbers also.    As does the Bangkok Bank website:  http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/FixedDeposits/Pages/SpecialFixedDeposits.aspx

 

JonWilly, you may not have realized that your account at Bangkok Bank was "Fixed Deposit" account which meant you had committed to keeping the funds on deposit for a certain period of time when you opened the account in order to obtain a certain interest rate.  That's what the ladies were trying to tell you when they said "no move money".  What color was your bankbook?  If it was blue, then you could move your money at any time without a loss of accrued interest, if not then you lost your accrued interest by moving your money before the end of the contractual period.

 

And the answer to "what is the best interest rate I can obtain?"  depends on how long you're willing to tie up your money.  I think they were trying to tell you that you'd already made a commitment with your funds and to come back in three months and ask the question again because the interest rates will be different.  

 

Gheesh, Bangkok Bank has a good website and little research would be good before you go in to ask these questions, esp. if the people in the branch in question don't speak good English -- or if you speak non-standard English or heavily accented English.  (I'm sorry, but the staff at BB-KSK doesn't seem to have problems understanding my well-enunciated midwest U.S. English, but they tell me all the time they can't understand many Aussies or people from the north of England.)

 

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Bkkbank 5 month paying 1.25%, 11 month 1.375%....by using the competition, you will get an extra 3600 per year on just your 800k....at the five month rate...more than 1/3 more.

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I Politely requested the highest rate for my money.

The lady did not explain any matter just stated in a Formal manner, Do not move your money from this account.

I asked a second time and received the same 'Order'

 

john

UOB which I understand to be the Thai 'Offshoot' of the Union Bank of Singapore have a friendly staff of young polite ladies.

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ID: 75   Posted (edited)

26 minutes ago, jonwilly said:

I Politely requested the highest rate for my money.

The lady did not explain any matter just stated in a Formal manner, Do not move your money from this account.

I asked a second time and received the same 'Order'

 

john

UOB which I understand to be the Thai 'Offshoot' of the Union Bank of Singapore have a friendly staff of young polite ladies.

United Overseas Bank (Thailand) is the Thai subsidiary of the Singaporean Bank. Best bank in the country if not in Asia.

 

BTW - 1.89% for 12 months fixed and 1.4% instant access, Preferred Customers only.

Edited by chiang mai
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5 hours ago, mesquite said:

A person who signs and swears the information that form is true is committing perjury if they know it isn't.  Further, a consular official does not have to stamp and sign the form if she thinks the information is not valid.

And I do know of situations where they refuse the sign the form.  If the person cannot explain why or what s/he is signing or if they have assisted the person in the past due to having medical problems and claiming they can't pay the bill due to low income.

 

This is something to consider for those of you who use Income Letters.  If you're in a coma, have dementia or are otherwise incapable of signing an Income Letter, you can still obtain a retirement extension if you have 800,000 baht in a Thai bank.  But not so if you use an Income Letter.  The U.S. Consulate will not notarize the signature for someone who is clearly not able to sign a document or doesn't understand what is it that they're signing.  Nor will they knowingly sign a false statement.

 

Interestingly, back in the day when the British Consulate was here, they would sign an Income Letter for an incapacitated person because they were certifying the income, not the signature of the person.  So a second party could demonstrate to the British Consulate that the person had sufficient Income, but that's not the case with the Americans.  All they're doing is notarizing that the person is knowing signing the document.

 

Big difference.

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All that these consulates/embassies are doing is certifying that the signatures on the documents are valid.

 

For the US it is more than a validation of a signature as Stated in previous post be Mesquite.

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12 hours ago, amexpat said:

Why?

Because they will f__k it up for genuine people.and another benefit will be withdrawn.

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49 minutes ago, true blue said:

Because they will f__k it up for genuine people.and another benefit will be withdrawn.

Be nice if you could get trump  to sign a executive order to stop yanks leaving America.think the world would be a safer place then.

 

 

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ID: 80   Posted (edited)

On 1/24/2017 at 6:35 AM, Dante99 said:

so you need Bangkok bank because of the USA connection, okay keep it but as soon as the money arrives in your Thai account, remove it and put it in another bank

 

But he might then be clobbered by interbank transfer fees here in LOS, which could make direct SWIFT transfers from his USA account into a non-BBL account worthwhile, though.

Edited by OJAS

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BANGKOK 25 May 2017 08:22
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