Is it common for Bangkok Bank to require insurance when opening an account for a Non O Visa?

Mar 19, 2022
3 years ago
Bob ******
ORIGINAL POSTER
Today I tried to open a bank account with Bangkok Bank in Phuket as per the requirement to deposit the 800K for the Non O Visa. While completing the paperwork they suddenly informed me that I had to pay 5,900 baht for another insurance policy and another 1400 baht to open the account. I informed them that I was already fully covered for the same insurance they were trying to force on me. This was not accepted by them. So, I got up and walked out. Is this the new norm for foreigners opening bank accounts in Thailand?
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TLDR : Answer Summary
The user experienced a situation at Bangkok Bank in Phuket where they were required to purchase an insurance policy and pay a fee to open a bank account, which is typically necessary for depositing the 800,000 baht required for a Non O Visa. The responses from the community suggest that this may be an upsell tactic and vary by branch, with some confirming that they have opened accounts without such requirements. It appears that the experience may differ depending on the bank and branch, with some users successfully opening accounts without insurance at other banks.
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Merv ***********
Maybe try another branch?
Merv ***********
Maybe try another branch?
Martin *********
That’s Bangkok Banks accident insurance they always try to make you take out , covers you for 100,000 per accident , but NO you don’t need to take it out .. there just trying it on , personally I do have it .. but no you don’t have to have it
Diezzy ******
No dont to take insurance for open thai bank.. i open Bangkok bank with 500 baht deposit ...
Bruce *****
Thieves at every level you should refuse
Sean ******************
Yep. Same same for me back in 2019
Francis *******
Bye bye thailand
Nic *****
Juz pay n open, which bank branch u goto? I also want open
Bob ******
ORIGINAL POSTER
@Nicholas ****
Kassicorn Bank.
Nic *****
@Bob *****
I’ve K bank, wan scb or others
Pranee ***********
If i see this post before i have told you how to do easy more but sorry just see now
Wolfram *******
@Pranee **********
Hello it's not to late for explain everybody what they have to do to open a bank account.
Pranee ***********
@Wolfram *******
in box me i can explain more
Wolfram *******
@Pranee **********
thanks for your answer.

I have a bank account, but other people will be happy to hear your easy way.
Andy ********
Every bank staff have to sell insurance, so please do not accept !
Colin ********
Same same for me at Bangkok Bank back in January.

I am told that their managers have set quotas to fill each month.
Philip **********
I opened an account with Kasikorn bank Central Festival. Minimum deposit of 1000. 400 for debit card. Insurance wasn’t mentioned or offered.
Bob ******
ORIGINAL POSTER
Hi everyone. Thanks for the replies and advice. I got a handle on this now. Looks like different policies for different branches of BB. I have since opened an account with a different bank and all is good.
Garrett ***********
@B**
It's unfortunate, as westerners we like to see consistency in policies from our financial institutions, the people we trust our money with. Unfortunately it just doesn't happen here.
Ben *********
Doing business or just being in Thailand.
Barry ********
Been happening for years I had the same problem had to pay but only 1 year
Marguyvin **********
Pressure upselling.
David ***
Pay on demand or don't get service, this is happening here in different issues.
Christopher ***********
Opened Bangkok Bank savings account in Pattaya. Taking a one year 'one off' accident insurance policy was required. They explained it does cover you for coming off your moto (up to age 65). As I'm now over 65 I haven't renewed it.
Kool *******
@Christopher **********
that is interesting as I have Bangkok Bank accounts, and bought my accident insurance with them, and not forced to, and my policy covers me up to 99years old, with motorcycle coverage.
Christopher ***********
@Kool ******
It was 'PA 1st Smart' for persons aged 16 to 65. There is 'PA 1st Senior' for persons aged 50 to 100 but that states 'No coverage in the event of accident while driving or traveling on a motorcycle'.
Kool *******
@Christopher **********
mine does cover driving and riding on motorcycle. I made sure of that, and my wife confirmed it in the policy coverage brochure.
Christopher ***********
@Kool ******
Sounds like you have some other policy i.e. not 'Personal Accident'. Or, maybe, is it a 'legacy' product that continues to offer cover that is not available to new (or newer) customers?
Kool *******
@Christopher **********
probably legacy as I've had it for over ten years.
Bernard *****
At Siambank there are two types of debit cards the simple 200 THB a year and the one with insurance that they only propose 😉 and that is around 650 THB à year. Maybe the same at Bangkok Bank. I get one simple debit card at Bangkok Bank and I didn't pay an insurance when I opened the account. (Bangkok Bank agency North Pattaya)
Cliff *********
I opened an account with Bangkok Bank a few months ago. They asked for the same thing. I was happy to be able to open the account and just bought the insurance policy.
Kelley *********
They tried the same thing with me. Like everybody else says, you just need to go around to a lot of different banks and one will let you open an account. It’s really frustrating.
Tudchapon ****************
Nothing to do with the insurance policy to open the bank account. Now the law has changed cannot open the bank account with tourist visa anymore.

But if you have tourist visa you can open bank account by request the bank account type "Non Residential Bank Account"
Lyndon ************
@Tudchapon ***************
I opened an account in October on a tourist visa... The law hasn't changed to forbid foreigners opening a bank account
Tudchapon ****************
Lyndon Cunningham yes they just prohibited on 2022
Niclas ***********
@Tudchapon ***************
can you show this in royal gazette?
Ali *******
@Tudchapon ***************
yeah is true i tried many banks they said you should have work or study visa
Don ******
At least you got something for your money, it cost me Bht 4000:00 just to open an account. I’ve no idea what the charge was for.
Terary **********
@Don *****
Yeah.. I think I pay 3000 a year for the special card.
Doreth *************
Go to another bank
Bob ******
ORIGINAL POSTER
Looks like this is a Phuket scam then.
Brad **********
No
Jye *******
Yes always been that way the very first time you open up a bank account
Martin *********
Norm
Marlowe ********
It’s normal they upsell especially if you look to naive.
Darren ******
Banks pushing ins. 🤣 Even the banks are scamming

I never got ins for my BKK bank acc.
Niclas ***********
Happened to me many years ago. But was maybe 3900 THB then? I am still surprised most things need to be cash and can't be taken from account like card renewal... 🙃

The scam sucks but I saved those THB for transfers back then with SWIFT and now Wise.

I learned an interesting fact recently don't know if it is national but the employees working in a bank need to pay 1 million deposit. Maybe they just trying to get that back on the side? Wouldn't blame them.
Gary *************
They’re tightening up the Insurance requirements.

Too many farang getting caught short without insurance.
Chris ******
I opened an account 4 months ago. I walked in with 30k baht to deposit. They opened the account without question.
Bobby ********
Chris Ruff. I did it with 100 baht
Rance *****
Kuan ******
Never happened to me in Bangkok
Donald ***********
I was required to get the insurance when I opened an account recently
Bobby ********
Donald Broussard. They con people. There is no necessity to take out insurance when opening a bank account.
Stephen *******
Always tell them you need to make a large deposit from overseas as soon as the account is opened for you.
Jeff *********
@Stephen ******
it must have been dumb, I don't see it!! 😂 😂
Ant *******
When I opened my account a few months ago there was no mention of insurance.
Jim ***********
Yes I was same
Joseph ********
It's just an upsell. Try a few other branches, you may get a bit more joy elsewhere
Bob ******
ORIGINAL POSTER
@Joseph *******
thanks. I got it sorted and was able to deposit 800K in another bank without any insurance requirement.
Craig ***********
@Bob *****
just to help us all out, what bank?
Bob ******
ORIGINAL POSTER
@Craig **********
Kasikorn Bank.
Adam **********
They tried the same with me in phuket 3 years ago, I was on a tourist visa in that time and when I changed to a long term visa they didn't want insurance from me but I decided to go elsewhere.
Bob ******
ORIGINAL POSTER
@Adam *********
yes, it was in Phuket that this was forced on me as well.
Garrett ***********
I just opened an account with them in chiang mai on Tuesday, no insurance. It's a common scam unfortunately.
Jp *******
May be they are under pressure to sell insurance. I opened 2 accounts with BB and never mentioned insurance
Jp *******
Was it life insurance ? Big profit and high commission in the life insurance business
Bob ******
ORIGINAL POSTER
@Jp ******
no, it was the same accident insurance you have to now have in place before coming to Thailand. I think it's just a bank con job.
Bob ******
ORIGINAL POSTER
@Jp ******
I went to another bank, opened a new account and never paid for any insurance. I guess BB only shoot themselves in the foot.
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