How can I open a bank account in Thailand while on a visa exempt status?

Oct 29, 2024
2 months ago
Shepherd *******
ORIGINAL POSTER
My wife and i plan on moving to thailand next year ( retirement ) first on a visa exempt ( we are from america ) then getting the non o visa once there, then extending it , my question is how do or can i open a bank account in thailand to deposit the 800000 for each of us on a visa exempt, or would it be easier to use a visa agent or agency. I already own a condo we bought 2 years ago.
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TLDR : Answer Summary
The conversation centers around an American couple planning to retire in Thailand, initially entering on a visa exempt status and subsequently applying for a Non-O visa. They inquire about the possibility of opening a Thai bank account to deposit the required 800,000 baht for each of them while on a visa exempt status. Community members suggest that it may be difficult to open a bank account under these conditions without an agent and recommend applying for the Non-O visa online before arriving in Thailand to facilitate the process. Others discuss financial considerations, including income sources and the costs of living, while some share experiences with agents and legal firms regarding setting up proper documentation.
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Ian **********
Ian **********
This applies to “Commercial Banks”within Thailand.

Note that “GSB”…. the Thai Gov’t Savings Bank is not a “Commercial Bank”.

If you keep more than 1MTB on deposit here in Thailand, it is in your best interest to protect your deposits in the event the bank fails. Open accounts with other banks and keep your balances at no more than 1MTB.

However, if you have Thai ID and a Yellow Book Tambian Baan, you are permitted to open an account with the “GSB”…. Government Savings Bank, which is not a “Commercial Bank.
Ian **********
Richard ***********
You need 800,000 baht each in a thai bank account
Todd **********
Richard Covington at that rate buy a Thai elite visa
Steve *******
There are agencies that organise it all for you. You actually dont need any money just the 20k fee. People think its a hard process and you need thousands but its not. How do you think that all these pensioners afford it? Its because the visa company use their money and pretend its your money. My mate had nothing but a pension and he is living there. Just go see a visa company they do it all
Neil ********
Apply for the non O before you leave. You have the condo as permanent address.

Might mean you hang around in a rental until the house cash is cleared but simpler
Martin *********
Use a agent. Manereet soi post office
Graham *******
you could try going to immigration, show them your condo papers and say you are going to retire and live in your condo and ask for a letter of consent to open a bank account, i did it last year. do not forget the changed tax laws, if u are not careful you will pay tax on the 800k.
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/FOREIGNERS_PAY_TAX2024.pdf
Henrik *****
Banks in Thailand are like everywhere in the world, interested in having good stable custormers, that have a permanent address, a steady easy traceable income, and use the account all year round.

That is why the banks are reluctant to give accounts to people on short time ( read: tourist ) visas, and who only spend part of the year in Thailand.

Don’t expect to get a residence certificat, until you have stayed at a permanent adress in at least 3 month, since that is what the residence certificat should confirm.

Furthermore the added attention on whitewashing of money, is an added burden on the banks, so even depositing large amounts isn’t a guaranteed way to open an account.

The value of a resident certificat, had gone down, since Immigration Officers are giving them to people that are not on a longterm visa, or have stayed severel months at 1 adress in Thailand, so even if it is a formal requirement, the bank make up their own assesment of the stability of the want-to-be customer.

***********************************************************************************************************************************
*****
9-thailand-to-implement-stringent-compliance-regulations-for-new-bank-accounts?
Chris *******
How could you buy condo without thai bank account ? 🤔
Shepherd *******
ORIGINAL POSTER
@Chris ******
i just had to remit funds from my account to theirs (manga carta) for purpose of property purchase
Chris *******
@Shepherd ******
understand 😊
Shepherd *******
ORIGINAL POSTER
@Chris ******
magna carta lawyer took care of it they are in pattaya
Eric ******
You don't need a lawyer. An agent is the better choice. That is ALL they do and they are much more in tune, have contacts and you get more personalized service. And by far more cost effective. Someone on here hired an "immigration attonrney" a while back (you may be able to search this thread and find the post), and they butchered her application. She basically lost the money and started all over. Yes, there were extenuating circumstances, but they should have informed her of the options. And they charged many times more than a reputable, long tenured, knowledgeable and reliable agent would have. This is the way I look at it...

For only around $125-$150 USD (that includes the resident certificate and ATM card), it is almost a no brainer to me to use an agent to open a bank account. They will get me a resident certificate and do ALL the paperwork, get it fast tracked, open me an account at Bangkok Bank, set up an online account, pick me up at my hotel and drive me to the bank, explain everything, show me how everything works, get me an ATM card and take me back to my hotel. So much easier then trying to figure it out on my own.

They will also get the retirement extension for me if I wish them to. I already used my Non O and didn't complete it in time. Bounced to Vietnam, and I'm coming back on an exemption. So it's actually cheaper to use the agent than pay for another Non O, I can't get one on an exemtion, I won't have to keep $800k in a Thai bank year round and it would pay for itself by my money continuing to collect interest ($1200/ year). And I won't have to fumble through the paperwork. I like the idea a lot by not sold on the particulars for the retirement extension, so looking into any downside. Haven't ruled it out, but definitely using them for bank account. The dude knows his stuff and is very well known. I even watch an interview with him on You Tube. That kind of sold me. Good luck!
Ian **********
As a Canadian Expat, I’ve made Phuket my home for the past 26 yrs.

Previously employed as a pilot based in Abu Dhabi, I’m now fully retired from the cockpit.

Recommendation / Suggestion….. contact a reputable Int’l Law Firm and have them advise you on the best path for you particular circumstances.

There are many so called “Visa Agents” providing services. They’re all fighting for your $$$$.

Research “Reputable” Int’l Law Firms and conduct your own Due Diligence. Interview the Firm, before you hire them.

Always remember, you get what you pay for.

If their fees are ridiculously cheap, then it might be worth while to keep looking…..

Good luck…..
Martin *********
@Ian *********
can I ask why a Law firm 🤔 and not a visa Agent
Shepherd *******
ORIGINAL POSTER
@Ian *********
thank you i think that is the route i am gonna go
Martin *********
@Shepherd ******
just use a visa agent thats been recognised for some years and recommended if its pattaya i can recommended manereet on soi post office. They did mine and my friends without any problems and opened me a bank account
Sylvia ********
@Martin ********
yes I would agree on this, Layer office etc certainly can process anything but have high overheads and many staff. My agent has no office, works from home but even collect you with her car or pay the taxi to meet up, that one to one service for me is the best
Kuu *****
usually most of the Banks dont entertain if you are on tourist visa or visa exemption. They may ask for the letter from your embassy. I had shared information to your inbox. please read that. Hope that may help you
Sylvia ********
Depending the location you maybe able to open an account yourselves, especially as you already owe a property, you need to first register a TM30 on arrival, then ask for a residence certificate from immigration. If all fails please PM me for a excellent contact who can help you
Tony **********
As others have said, much easier to do evisa from USA. Banks are then much easier to deal with though some will still deny you until you get your 1st 12 month extension (SCB).
Jeff ********
america? North America? Canada? Central America? Honduras? South America? Venezuela? be more specific. there's a whole hemisphere of "americans."
Neale *********
Jeff Schott if he was coming from Honduras or Venezuela, I'm sure he would have said that. Even someone with no brain can decipher what he means.
Shepherd *******
ORIGINAL POSTER
@Neale ********
north america
Jeff ********
@Neale ********
cute reply, but you miss my point. The word "america" denotes many countries, not just the USA. Even someone with no brain can realize that.
Rönda *********
@Jeff *******
I have recently pondered this too as many Americans refer to their homeland as America. As Ive asked around what people think about the word America, almost all people have said they would think your referring to USA. I think because none of the other countries in North or South America refer to thier country as America nor citizenship as American. So, I think its implied often that from "America" means from USA.
Shepherd *******
ORIGINAL POSTER
@Jeff *******
united states of america
Mark ********
Never use an agent. If you have to go that route...stay home.
Martin *********
Mark ********
@Martin ********
because its my fkucking opinion and I'm not about to drop everything and explain to the likes of you!
Martin *********
@Mark *******
you obviously have a drink and anger issues i suggest a cold bath then a visit to boys town 😉 its might help .
Sylvia ********
@Mark *******
if you read thru the comments you would see they will have the necessary funds once their home is sold, so yes need an agent to help. Have you ever meet an agent, many are very education, helpful and even pay your taxi to meet up!
Shepherd *******
ORIGINAL POSTER
@Sylvia *******
thank you, i see most people do not see the whole picture of my finances

About
*****
0 made after i sell my house

Over
*****
0 401 k ( less taxes)

About
*****
to
*****
savings

1500 wife social security monthly

When i turn 62 ( i will be 59
***
when i retire) my social security will be 1700

All usd funds

I am pretty sure this us more than enough

Plus i own condo in pattaya already
Mark ********
I'm sure they are. They are not really required. Unless you are lazy. There is plenty of info around to help people apply for whatever they need in the way of visas. Hell I even managed to open two bank accounts on a T/Visa 5 years ago. One at B Bank at the other at Krungsri. If I can manage to find my way through the bureaucratic process others will find it a breeze.
Sylvia ********
@Mark *******
yes 5 yrs ago I also helped many friends open bank account, last week I went WITH an agent and it took over 2 hours, unbelievable they needed his signature over a dozen times, several photos etc etc and now your insurance number from home country and a 2nd form of ID like a driving license from aboard
Mark ********
@Sylvia *******
and I believe that once you use that agent for the process you are stuck with him/her. Anything else that you need to do relating to visas here going forward must be done via that SAME agent. Costly exercise if you ask me. 🤷‍♂️
Sylvia ********
@Mark *******
I have never heard of that, I have used agents in the past then done things for myself, I don't see why anyone cannot?? Friends also swap agents when they find a promotion too, one only last week
László *****************
@Mark *******
are You the undisputed person, who is kowing everything better?
Mark ********
@László ****************
Yes I know enough to know the fact that you dont ever need to use an agent....unless the applicant is errrr...a bit dodgy? How long have you been an agent sir, if you dont mind me asking?
Max **********
@Mark *******
Why are you so negative. Be positive and you will feel so much better.😃
Mark ********
@Max *********
Thanks. I feel fine. I dont understand you calling me negative...UNLESS...you are an agent?
Martin *********
@Mark *******
then why make your comments about staying at home. Can I ask how you actually booked your travel arrangements before the invention of the big wide Web.
Max **********
@Mark *******
Not an agent. I think all newcomers need encouragement not a negative comment like Stay At Home!!!!
Mark ********
F off Max. You're an old idiot who drinks far too much.
Mark ********
Just curious, you 2 in fits of laughter. Whats the joke? 🤷‍♂️
Shepherd *******
ORIGINAL POSTER
So i should be financially set
Frank ********
Where did you buy condo? Name of condo? I am Looking around at condos
Sylvia ********
@Frank *******
if you are interested in condo long term rental or purchase in Pattaya/Jomtien area you can contact my friend
@Fiona ********
to start for ideas of availability, costs and good location, she lives in Jomtien
Shepherd *******
ORIGINAL POSTER
@Frank *******
i bought the condo in pattaya
Frank ********
@Shepherd ******
thanks, doing my due diligence. I have at least a five year time line staying there.
Frank ********
@Shepherd ******
can you dm or tell me the condo name. I assume you happy with management and the purchase?
Mark ********
@Frank *******
Dont buy. Rent. Thank me later. 😉
Bigd **********
Is your pension 80k a year gross?
Shepherd *******
ORIGINAL POSTER
@Bigd *********
plus now about
*****
savings
Shepherd *******
ORIGINAL POSTER
@Bigd *********
no pension i will have about
*****
0 usd from house and right now about
*****
0 in 401 k less tax and at 62 my social security about 1700 a month all usd plus my wife gets 1500 social security now
Shepherd *******
ORIGINAL POSTER
And own a condo in pattaya so no rent
Shepherd *******
ORIGINAL POSTER
1500 wife social securiy

1700 my social security

So monthly social security will be 3200 a month

About
*****
0 in savings and house sale

So some of you saying thats not enough.

All in usd
Shepherd *******
ORIGINAL POSTER
Keep in mind when i turn 62 i get 1700 social plus my wife gets 1500 social so that 3200 usd at 62 or
*****
0 baht a month
Nga **************
@Shepherd ******
is that all the assets you have? That's under half a mil for TWO adults to retire on. That's less than what's needed for one person even decades ago. That's gonna make it rough long term here, especially at that age.
Shepherd *******
ORIGINAL POSTER
@Nga *************
i see some people do not see the whole picture of my finances

About
*****
0 made after i sell my house

Over
*****
0 401 k ( less taxes)

About
*****
to
*****
savings

1500 wife social security monthly

When i turn 62 ( i will be 59
***
when i retire) my social security will be 1700

All usd funds

I am pretty sure this ismore than enough

Plus i own condo in pattaya already
Nga **************
@Shepherd ******
so half a mil + ~1.5-1.7k/month? That's not a lot at all. I'm from Viet Nam, and unless I stay in VN and live a very average local life and not fight too hard when I get sick or need hospice/extra care, that's not a lot. Thailand is more expensive than VN, even more so for foreigners. Even middle class Vietnamese don't think that income is a lot. It's more than enough to live a comfortable local life, but not enough to gain a higher quality of life and achieve financial security. You can get slightly above the average middle class standard of living, but you'd have to sacrifice a lot of western comfort. That's good income for someone in their 20s, mayyyybe early 30s, but not 40s and definitely not 50s. It's fine only if you don't have to plan for eventual repatriation when you get seriously sick or die. I personally would feel anxious if that's what I have to retire on in this region. Sure it's enough to get by, but you're one or two crises away from catastrophe and GoFundMe.
Michael ********
Bigd **********
@Michael *******
LTR seems the way to go, no bank deposit, good for 5years/5years, no 90 day check in, only have to check in once a year!
Michael ********
We used an agent last month, no problems at all.
Shepherd *******
ORIGINAL POSTER
@Michael *******
an agent it will be then thank you
Randy ******
@Shepherd ******
i think it is illegal
Dieter *******
@Randy *****
🤣🤣🤣
Brandon ************
@Randy *****
Using an agent isn't illegal. Using an agent to avoid meeting legal requirements is what is questionable.
Dieter *******
@Brandon ***********
Well hundreds of Falangs don't care and make the Immigration actually happy, because they earn some extra money 🤑😁
Michael ********
@Brandon ***********
we are using an agent to make it easier to go through the process whether it is opening a bank account or applying for the relevant visa. We will still use the legal requirements to get the latter.

Having just purchased a Condo and seen how difficult it is to go through this process because of the language difficulties, using an agent to do things for you just made it easier.
Ian ********
Ypu would be better off getting the non O before you travel, makes everything easier
Shepherd *******
ORIGINAL POSTER
@Ian *******
well i wont have the
*****
0 baht (
*****
00 me and wife) until we go , i will be selling my house and would like to leave a few days after the sale. My plan if possible ( i will be 59 years old my wife already retired in usa and she is on social security) is sell house,put required funds needed, then since i have no income for a few years would be to live off balance of house money , i also have a huge 401k to start taking at 59
***
then at 62 get my social security.
Kirsten *********
@Shepherd ******
the non imm from your own country is done electronically and takes 3 to 5 days max. If you have everything ready you can still do this once you sell. It does make it easier to get the bank account in Thailand for sure. Be careful on the advice being given about the transfer method as that’s not the same for every country. Some countries Thailand requires embassy verification of pension. Also be aware that once you’re here 180 days plus then Thailand will want to tax you on monies brought in that year so be very cognisaht of double taxation agreements
George ******
@Shepherd ******
also the money has to sit in the account for 2 month before applying?

I'm not a agent so double check on that ?
Peter ****************
@Shepherd ******
Already buying a non imm. O based on retirement in the States is the best way to go I think. First 90 days a bit of time to get a bank account which is a bit less difficult with a non imm. O visa. Walk in some braches. If you are running out of time and still have no bank account use an agent only to open a Thai bank account. (around 5,000฿ costs is reasonable). I would not do it for the year extension. You have to do this within the first 30 days, because when you want a year extension, the money must be in that bank account for 2 months before the date you ask for the year extension. Depending on the imm. office, you and y'r wife maybe need 2 seperate accounts each 800k฿ instead of 1 of 1.6mil. together. Depending visa for y'r wife is an option you have to investigate because I don't know anything about this. And maybe the non imm. O has another small advantage that you not have to prove to y'r airliner for an 'onwards ticket' should you come in on a one way ticket.

Also, when having y'r bank account, start transfering 65k฿-plus each month (12 times), so with a second year extension, you not need the 'locked' 800k฿ in the bank anymore.

Good luck !!!
Chris *******
@Shepherd ******
as of recently the US embassy still offered non-o dependant.

So you may only need to prove 800k and your wife can piggyback off of your non-o based on retirement.

However as many Embassy are changing rules and offerings you'd have to check your specific Embassy.
Brandon ************
It's basically impossible to open a bank account on your own nowadays on a tourist entry (which visa exempt is). You would need to pay an agent to help you in opening the bank account.

Why not get the non-O visa from your Thai embassy through the e-visa system before you travel to Thailand? It's all done online now from the comfort of your home and your visa will be e-mailed to you. With that, it should be possible to open a bank account on your own as you'll already be on a non-immigration visa when you arrive in Thailand.
Patrick *******************
@Brandon ***********
yes we had a 3 month visa and opened an account
Nick *******
@Brandon ***********
I managed to do it with Bangkok Bank. IMO gave me a letter, took that along with my passport and all done. Only down side is they used the fact I was on a tourist visa to say I had to take out their 1 yr insurance costing 6000 bht. I had to deposit 500 bht and my bank card cost me 100 bht.

If I had an O visa, they said I wouldn’t have been charged the insurance money.
Brandon ************
@Nick ******
Using an agent would cost similar, so it's basically the same process
John ********
Get a lawyer don't ask here
Nga **************
@John *******
let me guess, you're from the US? 🤣🤣🤣 Hiring a lawyer to submit a Thailand non O visa app omg what kind of tragicomedy is this man? 😂😂😂😂😂
Kool *******
@John *******
you are not giving true advise. Basically you do not know what you are talking about, and operating on hearsay, which is decades old, and no longer true.
Brandon ************
@John *******
why would anyone need a lawyer for a simple visa application?
John ********
Ok well I am done w this forum you'll be glad to know bye
Jordi ********
@John *******
Are you one of those grumpy old falang I keep hearing about?
Nongnuch ********
@John *******
you must be a very confused man. Brandon's advice is spot-on and 100% correct
John ********
@Brandon ***********
because he doesn't seem to be able to do it on his own...not a lawyer but visa agents get bank access for prople
John ********
Brandon ************
@John *******
Wow what an insightful response. You don't even say what isn't true. Care to elaborate or you're just throwing bullshit?
John ********
@Brandon ***********
I have lived in thailand 25 years on and off

.currently you have to hit up 3-5 branches w a large deposit and you will get an account.read others posts don't give up so easy or you can hire a visa agency
Brandon ************
@John *******
Your experience from 25 years ago, or even 1 year ago make no difference. Things have changed drastically, and now they won't even look at you if you're on a tourist visa or visa exempt.
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