Post by Fletchsmile on May 30, 2015 12:17:50 GMT 7
We all know that banking service in Thailand can be highly variable, depending on which bank, branch, time of day, time of month, English competency, staff attitude, pot luck and thousands of other factors. It can sometimes be a real headache. I really prefer not dealing with banks while being what they classify as a "mass retail client" = basic level customer.
So just thought I'd share that after a few years out here I came across the concept of Priority Banking / Premium Banking. You get various minor transaction benefits like little better rates and the odd gift.
Where I've found the real benefit to be though is in having a dedicated Relationship Manager (RM) who looks after all the accounts for me and my family. Relationships in Thailand as people know are very important, it can mean the difference between success and failure. That applies to banks, especially given the variability of service. It really can take away a lot of the headaches.
The lady I currently have is great, as have been ones in the past. Speaks fluent English. Overseas educated. Really makes a difference if you're overseas having a phone number or email of someone in the bank as a first port of call. If I need a document they'll send a motorcycle messenger to our condo. etc I also know that if I'm not around either temporarily or permanently, there's someone in the bank my wife could go to.
Requirements to get Priority Banking vary, but thought it might be useful for people to share any experiences here.
HSBC used to offer Premium banking which I believe was quite good. When they exited this business in Thailand accounts went to BAY - which I don't think is good
I use Stan Chart Head Office at Sathorn.
Entry level is THB 3mio of assets under management with them (including deposits + mutual funds etc, not just cash)
Stan Chart isn't always that great on admin and procedures, but having an RM makes a massive difference
Anyone else have any experiences to share or priority banking services they recommend at banks?
Cheers
Fletch
So just thought I'd share that after a few years out here I came across the concept of Priority Banking / Premium Banking. You get various minor transaction benefits like little better rates and the odd gift.
Where I've found the real benefit to be though is in having a dedicated Relationship Manager (RM) who looks after all the accounts for me and my family. Relationships in Thailand as people know are very important, it can mean the difference between success and failure. That applies to banks, especially given the variability of service. It really can take away a lot of the headaches.
The lady I currently have is great, as have been ones in the past. Speaks fluent English. Overseas educated. Really makes a difference if you're overseas having a phone number or email of someone in the bank as a first port of call. If I need a document they'll send a motorcycle messenger to our condo. etc I also know that if I'm not around either temporarily or permanently, there's someone in the bank my wife could go to.
Requirements to get Priority Banking vary, but thought it might be useful for people to share any experiences here.
HSBC used to offer Premium banking which I believe was quite good. When they exited this business in Thailand accounts went to BAY - which I don't think is good
I use Stan Chart Head Office at Sathorn.
Entry level is THB 3mio of assets under management with them (including deposits + mutual funds etc, not just cash)
Stan Chart isn't always that great on admin and procedures, but having an RM makes a massive difference
Anyone else have any experiences to share or priority banking services they recommend at banks?
Cheers
Fletch