Banking

sbhawaiian

Member

Member since 06 July 2013

maui

sbhawaiian

11 July 2013 00:51:15

sbhawaiian

11 July 2013 00:51:15

maui

I read the blog on banking and I still have questions. But first of all thank you Christine for the Welcome Aboard, I do like how the members are very nice and try to be as helpful as they can.

I'm trying to figure out how do retirees deposit their money. Is everything done thru a Thai bank or is there an bank in the US that will allow you to access your funds in Thailand. Per the information on the home page I called HSBC bank and they require $100,000.00 balance for that kind of account. Ouch

I'm hoping to visit for a week some time in Nov/Dec of this year. I just want to look around and ask questions. If I like what I see than I plan to return for a month to get into the routine of living in Chiang Mai.

Mahalo Nui Loa (thank you very much) Ricky

Straydog

Serial expat

Member since 21 May 2010

Pattaya

Straydog

11 July 2013 10:27:42

611

Straydog

11 July 2013 10:27:42

611

Pattaya

You should have no problem accessing your funds in US bank from Thailand.

You can use ATM's or before leaving the US set up your US bank account for international wire transfers.

Provided you a US checking account you can just write a check to yourself and deposit in your Thailand account. It takes up to 45 days to clear if speed is not important. It only cost around $10.

If you receive pension check from government or company you can have direct deposited in your Thai bank account. I suggest you use Bangkok Bank because its the only Thai bank Social Security will direct deposit in Thailand. Bangkok Bank also has a New York branch which is one of the reasons government uses that bank.

sbhawaiian

Member

Member since 06 July 2013

maui

sbhawaiian

11 July 2013 19:22:07

sbhawaiian

11 July 2013 19:22:07

maui

Thank you for the info and I'll contact Bangkok Bank in the US.

Straydog

Serial expat

Member since 21 May 2010

Pattaya

Straydog

12 July 2013 07:27:09

611

Straydog

12 July 2013 07:27:09

611

Pattaya

sbhawaiian wrote:
Thank you for the info and I'll contact Bangkok Bank in the US.

You will not be able to open Bangkok Bank account at New York branch. The New York branch is a US federal chartered branch which functions as a wholesale bank so you cannot open individual accounts. You must open a Bangkok Bank account at branch in Thailand. New York will only accept and forward funds to your branch in Thailand.