What are the banking restrictions for foreigners in Thailand, particularly with Krungsri Bank?

Dec 25, 2024
2 days ago
Pv ******
ORIGINAL POSTER
Feedback Regarding Bank Policy for Foreigners

I am an expatriate working here in Thailand and receive my salary in another bank.

I opened an account with Krungsri Bank for personal use and have conducted a few transactions, sending and receiving money with my Thai friends.

Recently, I was informed by the bank that, as a foreigner, I am not allowed to receive money from sources other than my salary. This restriction has been quite surprising and inconvenient for me.

In comparison, I have previously worked in Singapore, where the banking system is much more accommodating and foreigner-friendly.

Unfortunately, this recent experience has made me feel that Thailand is becoming increasingly challenging for foreigners in terms of financial transactions.

I hope the bank will reconsider or clarify this policy to ensure a smoother experience for expatriates who contribute to the economy here.

#krungsri

#KrungthaiAXALife

#krungsri

@krungsri

#thailand

#ThaiNews
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TLDR : Answer Summary
An expatriate in Thailand expresses concern about Krungsri Bank's policy restricting foreigners from receiving funds outside their salary, contrasting it with his positive banking experience in Singapore. Multiple comments reflect frustration with Krungsri's service quality, suggesting alternative banks like KBank and Bangkok Bank, while some users note the banks' general cautiousness towards foreign account holders, driven by compliance regulations and concerns over money laundering.
Mo ******
I took international option with my French bank. I don’t need their banks anymore
Ekaterina ************
Since when? This is nonsense
Uwe ****
I had similar experiences of plain disrespectful behavior from KrungSri employees (in several branches all across Thailand). I would say they are the most unfriendly, unprofessional bunch of people I have met in Thailand. Eventually I just had enough with their BS. KBank has been a breeze... should have changed earlier.
Ronald *************
@Uwe ***
habe ich auch so erlebt!
Uwe ****
Wundert mich nicht...😅
Biff *******
So how, exactly, will this bank prevent people from sending you money?

I use my Bangkok Bank account all the time and when a group of friends go out, if we’re splitting the bill, sometimes I’ll pay it then my friends use my QR code to send me their contribution.

I don’t think the bank could stop that if they even wanted to, which they don’t.
Phil ********
I've been a KrungSri customer, Ploenchit branch, forever... never had any issues at all, ever.
Wannikea *********
Madness, ignore that, no way can they dictate this type of restriction.
Robert *********
@Wannikea ********
and they have no way of knowing

It’s best to not mention DTV at any bank

If you already have an account it’s not relevant
Henrik *****
If following Thai groups, you will have seen numurous posts about people who can't get a Thai bankaccount, even when they need it for visa purposes, so the banks can dictate this and they are doing it in large numbers.
Tod *********
@Henrik ****
and this post has NOTHING to do with getting an account 🙁 those are totally unrelated issues to the topic the O/P is writing about
Wannikea *********
@Henrik ****
maybe read the post, the bank says he can only use his account to receive salary.
Chris ****
Tell Krungsri bank to eat dirt. Get a Bangkok or Scb and just do your thing.
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 reluctant 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.

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9-thailand-to-implement-stringent-compliance-regulations-for-new-bank-accounts?
Tom *****
@Henrik ****
hors sujet
Luit *****************
@Henrik ****
Certainly not in the whole world banks try to restrict their customers, I see banks like Revolut trying to get as much customers as they can, and make opening an account as easy as possible as long as legal rules in the country allow that. Why should banks be interested where the money codes from? Why should it interest them if you don't use the account for some time.

When people only can receive salary on a bank account the whole system would be useless if such a stupid rule was in place for everyone.

Maybe it has something to do with reporting obligations to Thai government.

When I transfer money with Wise to Thailand I have to specify how the money is used, when transferring to other countries this is not necessary.
Ronald *************
@Henrik ****
da muss ich ihnen widersprechen! In der Türkei geht das ziemlich unkompliziert mit Konto eröffnen! Und Ja ich habe genau das Problem das mir die Bank kein Konto eröffnen will ! Ist Aber Voraussetzungen für das No Visum alles ein Witz hier ! War schon bei einigen Banken .. habe sogar Thai ID Karte ! Nix Konto !