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Is the 7000 baht fee for opening a bank account in Thailand applicable to all banks or just Bangkok Bank?
Thailand bankingopening bank accountsBangkok Bankvisa and immigration assistanceexpat financebank fees in Thailand
Nov 6, 2024
a year ago
Kelly ********
ORIGINAL POSTERIs it necessary to pay around 7000 baht to open a bank account in all banks in Thailand or does only Bangkok bank charge this fee?
TLDR : Answer Summary
The consensus among commenters is that the approximately 7000 baht fee mentioned is not a standard across all banks in Thailand. It appears to be related to insurance that some banks may attempt to sell during the account opening process, particularly at Bangkok Bank. Many users indicate that opening a bank account should be free and that the fee may pertain to insurance products. Additionally, past fees of around 5000 baht for insurance were noted, along with some confusion regarding agent fees. Overall, it seems that while some branches may require this payment, it is not mandatory for all banks.
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Tony **********
Debit cards pay a fee some hospital cover thing old school bank account no fee but have to visit bank for everything
Javier ********
It’s free
Roberto ****
I had to get accident insurance from the bank as well
Barc ***********
5900 for accident insurance. It begins to be hard to avoid it
Martin ********
@Barc **********
go to a different bankBarc ***********
@Martin *******
same everywhere or banks refuse. But in fact I needed an insurance for accidents, so for 6k/ year and 100k of refund/ paiement for each issue during only one year that's correctReply to
Barc ***********
Reply
Klaus ***********
how to become an agent and take your money?
Xav ****
No. you don't need to buy that insurance to open the bank account.
Jim ***********
Pay it if gets year insurance
Roman ********
Will the American ATM cards work in Thailand?
Deepak *******
Yes, I exclusively use CC for most of my purchases. It has many advantages 1. Fraud protection, 2. Cash back, 3. Using other people's money, etc. Make sure there is no international charges. I also use American bank issued ATM cards for cash withdrawals. All my ATM fees are reimbursed.
Ethan *********
@Roman *******
yes. All ATM (except a very small minority), charge 220THB withdraw fee. Use Krungsri (yellow) to withdraw as they have 30,000thb limit as the others have 10,000 limit. Also use your banks conversion rate if the atm ask. Do not use ATM conversionRoman ********
@Ethan ********
thanks 🙏 for the advice. I was worried there for a minute. I really did not want to carry that much cash.Reply to
Roman ********
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Pete *******
It is free to open a Thai bank account.
Darren ********************
Insurance but used to be 5000 for Bangkok Bank when I opened mine last year.
Greg ********
Is this the agent fee (these can depend on location) or the insurance Bangkok Bank tries to sell you?
Elías ********
That's the agent fee, isn't it? Used to be 5000 baht until recently.
Greg ********
@Elías *******
Bangkok Bank and others used to try and sell insurance for around 5k but it has gone up recently. Their staff would strongly imply that no insurance, no account. They get a commission for the sales. However, using an agent would negate that as they get more commission from the agent than the insurance :-)Paul ********
@Elías *******
i paid my agent 4000B last monthBrian *********
@Paul *******
I also would like information on your agent… I will be arriving on the 15th and will need to set up a bank account.Akram ************
@Paul *******
Hi Paul! Hope you’re doing well. I’m looking into opening a bank account here and was wondering if you could share the contact info for the agent you used. Any tips or recommendations would be super helpful too. Thanks a lot!Reply to
Akram ************
Reply
Rex ******
That’s insurance they are selling you, I believe. You don’t need to buy it but some branches will ask you.
Stefani ********
@Rex *****
insurance for what?Rex ******
@Stefani *******
AccidentMinn *****
@Stefani *******
accident insurance most probably for 5900Marcus ************
@Minn ****
gone upto 7000 now. Atleast in Phuket. Got it two months agoReply to
Marcus ************
Reply
Mathew *********
@Stefani *******
healthReply to
Mathew *********
Reply
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