BANGKOK, THAILAND – A foreign resident in Bangkok has raised concerns after claiming a Bangkok Bank branch made the purchase of an insurance policy a condition for opening a current account.
Customer reports insurance condition for new account
The letter writer said he went to a Bangkok Bank branch a few weeks earlier intending to open a standard account. According to his account, a staff member told him he would first have to take out an insurance policy before the bank would proceed. He described his initial reaction as confusion, wondering whether it was a joke or a misunderstanding due to his limited Thai.
“I was supposed to take out an insurance policy before I could even have an account.”
said the unnamed customer.
Frustration over lack of explanation
The customer said what angered him most was not only the demand itself but the absence of any clear justification. Staff reportedly told him only that this was “the rule,” without further detail. He questioned whether this was an official Bangkok Bank policy, a practice specific to that branch, or an attempt to sell him a product he did not need.
“Nobody could really tell me why this should be necessary.”
said the writer.
Switch to another bank without insurance demand
After the experience, the customer said he refused to sign up for the insurance and left the branch. He then went to Kasikornbank, where he reported being able to open an account easily and without any insurance requirement. The process there was described as fast, simple and transparent.
“At Kasikornbank everything was completely straightforward. I could open an account without anyone trying to push insurance on me.”
said the customer.
Questions over inconsistent banking practices
The incident prompted the writer to reflect on differing practices between Thai banks and even between branches. He said he found it “strange” that one bank appeared to make an insurance policy a condition, while another did not. The experience left him feeling the requirement resembled a hidden sales tactic rather than a customer-focused policy.
“It feels like a hidden sales trick, and I don’t like that.”
said the letter writer.
Call for transparency and clearer rules
The customer stressed that what disturbed him most was the lack of transparency around any such rule. He argued that, if an insurance requirement existed, it should be clearly communicated on websites and in branches, along with the reasons. He questioned whether the condition was meant to protect the bank or the customer, or whether it was simply a strategy to sell more insurance policies.
“If there really is a rule that you have to take out insurance, then it should be clearly communicated – on the website, in the branches, everywhere.”
said the writer.
Concerns for other customers and ethical issues
The writer said he suspected that other people might have accepted such offers without understanding why they were being asked to pay for insurance. He worried that customers could be spending money on products they neither need nor want. In his view, this would be unfair and not ethically acceptable in a modern banking environment.
“It means that people may be spending money on something they don’t really need or want. That is not fair, and it is not ethical.”
said the customer.
Appeal for banks to review practices
The letter closed with an appeal to Bangkok Bank to rethink such practices and become more transparent with customers. The writer said he was satisfied with his move to Kasikornbank, where he felt treated as a customer rather than as “a potential insurance premium.” He expressed hope that more people would share their experiences so that banks in Thailand would take customer concerns more seriously.
“I hope this letter helps more people share their experiences and that banks here in Thailand start to really take their customers seriously.”
said the letter writer, whose views were published in an editorially edited reader contribution.