Is a 100,000 baht life insurance policy required to open a Kasikorn Bank account in Thailand?

Absolutele BS. They get a vig for signing you up and have no problem lying to get your money.

Opened an account at Kasikorn in Borabue last week. No problem.

Bank employee gets commission

Lots of banks try that, just politely tell them you have private life insurance from your own country and it would be compromised if you contracted for another policy. It gives them an out when the manager asks them if they flogged a policy.

I opened 3 weeks ago needed nothing just a residence certificate

Account opened recently no insurance purchase required

I opened another one at this branch just showing my pink id and passport (married)2 weeks ago.

Under Thai regulations, banks are not legally allowed to make the sale of insurance or investment products a condition for opening a bank account.

🔹 Relevant laws and authorities:

Bank of Thailand (BOT) – the central bank that regulates financial institutions.

Office of Insurance Commission (OIC) – regulates the sale of insurance products.

Consumer Protection Act (B.E. 2522 / 1979) – protects against unfair trade practices.

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⚖️ 2. The rule in clear terms

> A bank may offer insurance products, but it cannot make them compulsory for access to essential banking services such as opening a savings account or obtaining a debit card.

This principle is explicitly stated in BOT Circular No. FPG. , which prohibits “forced bundling” (tying) of non-banking products with core banking services.

In other words:

> ✅ Optional = legal

❌ Mandatory = illegal (if required for basic account access)

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🏦 3. What really happens in practice

Despite the rule, some branches — especially in tourist areas or with inexperienced staff — may push insurance or “accident cover” as if it were a requirement.

If you are refused without valid reason, you can report it to the:

Bank of Thailand (BOT) complaint center:

Are they worried about you borrowing monies

It's not a Kasikorn bank requirement. But it might be a requirement for the branch you went to in order to make all the paperwork required for them to do worth it.

Do you have a non-immigrant visa? A certificate of residence from immigration? What happens if you tell them you want the bank account without the insurance?

You can try other branches or other banks.

Worst case scenario is you bite the bullet and purchase the insurance. You might even be able to cancel it shortly after for a refund.