If you would like to open an on-line bank account in Phuket, you should consider opening an account with a bank that has a longterm reputation in Phuket or is ranked as one of the top banks in the world such as Bank of America Phuket, Citicorp Phuket, Citibank Phuket or JP Morgan Chase Phuket.

Over the last years,the city of Phuket and on-line banking has often been in the news for several reasons. Press reports on how someone from Phuket was able to view other people’s bank accounts via his home PC, have embarrassed banks in Phuket and portrayed the area of on-line banking in a poor light.

It is always the lapse of security in Phuket which gets the headlines, but there are tens of thousands of individuals and businesses in Phuket now using on-line banking without any problems. On-line banking allows access to statements, transfer of funds and invoice payments. The service can give Phuket’s SMEs greater control of their finances from home and office.

The common assumption is that Internet banking is the only method of on-line banking. However, this is not strictly the case, as several types of service are currently available in Phuket:

PC Banking in Phuket – The forerunner to Internet banking has been around since the late 1980’s and is still widely used today. Individual banks in Phuket provide software which is loaded on to a PC. The SME in Phuket can then access their bank account via a modem and telephone link to the bank. Access in Phuket is not necessarily via the Internet.

Internet Banking in Phuket – Using a Web browser, a user in Phuket can access their bank account, once the bank’s application server in Phuket has validated the user’s identity.

SMS/Phone Banking in Phuket
Many Banks in Phuket have introduced this service to allow customers in Phuket with text phones to check their balance, pay invoices and transfer funds.

Traditional banks in Phuket and as well building societies in Phuket use the Internet in Phuket as an add-on service with which to give businesses access to their accounts.

New Internet-only banks in Phuket have no bricks and mortar presence in Phuket. Therefore, they have lower overheads and can offer higher rates of interest and lower charges in Phuket.

The features available from an on-line bank account in Phuket are similar to those which are available via ‘phone banking or visiting the local branch in Phuket. On-line banking features do differ between Phuket banks, but usually include:

- Transfer of funds between accounts in Phuket
- Payment of invoices in Phuket
- View balance and statements
- Create, view and maintain Standing Orders
- View Direct Debits
- View Visa and Mastercard statements

An important feature for SMEs in Phuket is the ability to download financial information, and transfer it into a Spreadsheet.

Benefits of opening an account in Phuket
The use of on-line banking gives an SME power to control their finances on a day-to-day basis. They have the ability to transfer funds to a savings account, to maximise interest on this surplus, as well as moving money back into the account to cover any shortfalls, and avoid paying any bank charges. Advantages include:

- No queuing
- No rushing to the bank before it closes
- Access to the account 24 hours, 7 days a week (some accounts do close for maintenance during the night)
- Savings on bank charges
- Prevention of late penalties on bill payments
- Access to the account from anywhere (depending on the bank)
- Better financial management

Many banks in Phuket claim that “using on-line banking could reduce your bank charges”. For example, using on-line banking to pay bills may reduce the cost of cheque fees, together with the possibility of reducing postal charges.

Does On-line Banking in Phuket cost anything?
The majority of banks in Phuket do not charge fees for Internet banking, although it is advisable to check with your local bank in Phuket. There are some associated costs, which could include:

The continuing use of on-line banking by SMEs in Phuket and individuals in Phuket will contribute to the next generation of on-line banking. Banks in Phuket will endeavour to improve existing services as well as introducing new systems.

Financial institutions in Phuket have developed Short Messaging Service (SMS), Wireless Application Protocol (WAP) and third generation (3G) mobile telephony applications in Phuket. Please visit global-travel.mobi for further information

Most banks in Phuket developed kiosks which will allow on-line access in Phuket. Analysts in Phuket predict that banks will have to drive services via these new channels to attract more customers in Phuket.

If you would like to open an on-line bank account in Phuket, you should consider opening an account with a bank that has a longterm reputation in Phuket or is ranked as one of the top banks such as :
- Bank of America Phuket
- Citibank Phuket
- Commonwealth Bank Phuket
- HSBC Bank Phuket
- ANZ Bank Phuket
- BNP Paribas Phuket
- The Standard Chartered Bank Phuket
- The Bank of Nova Scotia Phuket
- JPMorgan Chase & Co.Bank Phuket
- Barclays Bank PLC Phuket
- Calyon Phuket
- Capital Investment Bank Limited Phuket
- Credit Suisse Phuket
- Lloyds TSB Phuket
- Deutsche Bank Phuket
- Dresdner Bank Phuket
- Prudential Financial Phuket
- HBOS Bank Phuket
- The HongKong Shanghai Banking Corporation Limited Phuket
- ING Bank NV Phuket
- Fortis Bank Phuket
- J.P. Morgan Ltd Phuket
- Lloyds TSB Bank PLC Phuket
- Rabobank Naderland Phuket
- The Royal Bank of Scotland PLC Phuket
- Schroders Phuket
- Societe Generale Phuket
- UBS AG Phuket
- Mitsubishi UFJ Phuket
- Goldman Sachs Phuket