Inadequate banking system

[ozode]

As I have began and continued with business activities in Thailand we have found the banking system to be inadequate for the needs of a modern business. Particularly the flexibility of the bank in being able to provide the services that are needed. In some case the banking system works very well, but in the case of the internal computer systems that are used at most Thai banks it is woefully inadequate and does not allow for flexibility. For example today we tried to withdraw some funds to pay a bill for the company, the local branch is closed due to the holidays so we went to another branch, because the computer system is not intergrated we only have limited access to our funds at the other branch. In our case, it is partly our fault we should have planned a bit better and withdrew the funds yesterday, but since the branch is open, we should also have access to our funds at any branch in the country. We should not have to only use our home branch, but should be able to use any branch, similar to the way banking is done in the US.

Thailand has an interesting opportunity in the coming years if they can put something together. For the most part Thailand is a very good place to do business and if they can fix some of the problems in the system and can make business activities easier to conduct in the Kingdom, this country can become the center market for the ASEAN community. This would be a big boost for Thailand and turn Bangkok into one of the central business centers in Asia. My suggestion is that the Thai government work on setting up banking law and regulations that will enable people to invest money here easier and allow for more flexibility in banking activities. If they can do this it will entice new investment to the Kingdom and help cement Thailand as the central market in the ASEAN community.

[sulasno]

in order for Thailand to establish herself (seriously) as a financial centre for Asia, the "antiques" at BoT must be removed first even before revamping the banking laws

Banks in Thailand are run just like other Thai business; it's all family run

[alex1]

in order for Thailand to establish herself (seriously) as a financial centre for Asia, the "antiques" at BoT must be removed first even before revamping the banking laws

Banks in Thailand are run just like other Thai business; it's all family run

Do the "antiques" include the caleder year too

[sulasno]

do you agree that the Thai calender should not be used when conducting international trade?

[sundayjam]

do you agree that the Thai calender should not be used when conducting international trade?

It's the same in Japan. If you deal with either country on a regular basis, it doesn't matter which calendar they use. A point of reference has been established after the first transaction.

In regard to banks...each one is different. Pick the bank that best suits your needs. I can't believe all the banks in Thailand are hampered with inadequate data systems, or are they?