Banking and fiances from Thailand

[busterbrown 0]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, will FINALLY (cross our fingers) be receiving her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

[daboyz 36]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, will FINALLY (cross our fingers) be receiving her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

Probably best to post this question here:

http://www.visajourney.com/forums/index.ph...0&start=270

This is the Thai forum here.

[ding 1]

Bangkok Bank has a branch in New York. While you can't transfer funds free to it, there are advantages. Bangkok bank has a domestic Fed Routing Number so a SWIFT code is not needed.

Bangkok Bank PCL

29 Broadway, 20th floor, NY, NY 10006,

phone 212 422-8200

The ABA routing number for Bangkok Bank PCL is 026008691.

I married my wife there and we got a joint account in Bangkok Bank. Some banks will not, even with a work permit there. With the USD in peril it may be good to have another basket for some eggs.

[Kathryn41 3,205]

post containing commercial content has been removed.

Actually, it is probably better for this topic to have its own thread instead of being added to another long thread.

Edited October 1, 2009 by Kathryn41

[thongd4me 69]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, will FINALLY (cross our fingers) be receiving her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

[thongd4me 69]

Hopefully I can get some advice from this board as it's been helpful in other areas. My fiancee, who is Thai, will FINALLY (cross our fingers) be receiving her K1 visa (7 long months). She's coming over to the US permanently in April. She currently has a consumer bank account with Siam Commercial Bank and has used them for her fiances for many years. I am currently a long standing member of Chase (JP Morgan Chase) in the states. Because she has a fair amount of capital in her account, we are unsure of the best option for us to manage that account from foreign soil. I do know that Bank of America has a local branch in Bangkok and was wondering if anyone has any experience with them. We're trying to decide if it's worth closing her Siam bank account and opening up an account both in a US branch and the Bangkok branch. That way, accessbility to her Thai account, may be easier from the states, since both accounts are within Bank of America. We'd like to keep an account open in thailand for future trips back as well as to have some security for her family in case an emergency arises. Don't know if there are any other US banks in Bangkok. Any advice is appreciated. Thanks

After reading your post again, I think the operative words here are "worth closing."

I'm not sure if you were thinking in terms of convenience or whatnot.

I would guess that a Thai bank can have an account accessable online as well as an American one.

Bank of America either did the single smartest thing or dumbest thing by buying Merrill Lynch,

but that's your call to make and not mine to favor one or the other.

Without breaking any laws (see the news on Union Bank of Switzerland) I might also check on

the tax implications of switching considerable funds (along with possible exchange rate losses)

to an American bank. I don't know what taxes (Thai or US?) would have to be paid either immediately

or deferred and more experienced farangs in Thailand may be able to fill in the blanks.

For sure, you may not get 100% disclosure of tax liabilities from the bank you are moving TO,

because they are just there to do business, not to collect taxes or give legal tax advice.

If there are advantages to you and the bank, they might clue you in, but if there are

disadvantages to you and none to them, they just might put that in the fine print.

If you ask them up front, they should have to tell you. Asking them to sign something

to the effect that "there are no hidden fees or taxes" might also get their attention.