Answered3 years ago
What are the challenges of opening a bank account in Thailand for expats?
BANK ACCOUNT PITFALLS COMPARED TO OUR CONUTRIES.
So I have spent 9 months a year on a retirement visa. Had to pay Bangkok Bank I think 7,000 baht for opening an account as an insurance policy was needed. I don’t like to use agents to do anything here so do it all with the help of my girl.
Last month sold my house in the uk so was think my house build will start soon so will bring a chunk of money over and if I go home will do business class or 1 st class Emirates.
So asked Bangkok bank how much I can pay on my debit card from my bank in one online transaction. I was astonished to hear them say 150,000 baht. I then asked could I upgrade my account to make ( as they called it a shopping amount) the limit higher. I told them in the UK there is only a limit of amount in the account.
Now today went into Kasikorn Bank. Took in my condo blue book and chanote and opened the same type of account but only 250 baht year fee as Bangkok is 300 baht and they had a shopping limit of 500,000 baht. So will be using them now. Also open 8.30 at my branch whereas Bangkok bank Soi Bukhoa opens at 10
Am. So when I go immigration I can get there early when I need letter for visa.
These figures are not the daily transactions to other people’s accounts it to but online things.
Just for people looking at opening accounts
So I have spent 9 months a year on a retirement visa. Had to pay Bangkok Bank I think 7,000 baht for opening an account as an insurance policy was needed. I don’t like to use agents to do anything here so do it all with the help of my girl.
Last month sold my house in the uk so was think my house build will start soon so will bring a chunk of money over and if I go home will do business class or 1 st class Emirates.
So asked Bangkok bank how much I can pay on my debit card from my bank in one online transaction. I was astonished to hear them say 150,000 baht. I then asked could I upgrade my account to make ( as they called it a shopping amount) the limit higher. I told them in the UK there is only a limit of amount in the account.
Now today went into Kasikorn Bank. Took in my condo blue book and chanote and opened the same type of account but only 250 baht year fee as Bangkok is 300 baht and they had a shopping limit of 500,000 baht. So will be using them now. Also open 8.30 at my branch whereas Bangkok bank Soi Bukhoa opens at 10
Am. So when I go immigration I can get there early when I need letter for visa.
These figures are not the daily transactions to other people’s accounts it to but online things.
Just for people looking at opening accounts
Answer summary
The post discusses the experiences of an expat in Thailand regarding opening a bank account, specifically comparing Bangkok Bank and Kasikorn Bank. The user highlights issues with high fees and low online transaction limits at Bangkok Bank, prompting them to switch to Kasikorn Bank, which offers lower fees and higher transaction limits. The conversation includes comments from other users discussing various banking options, fees, transaction limits, and experiences faced by expats while banking in Thailand.
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Stacey ****************
Curious what type immigration visa you have
Paul ********
OP@Stacey ***************
non o retirement visa
John **********
I'm sure there used to be an option in the Bangkok Bank app to increase the amount up to 2,000,000 baht but checking now mine is also 150k, only recently went in with my passport so I could change amounts myself. Either they've dropped the amount recently or they're restricting it for farangs. Saying that I believe you can also change the amount just for the debit card, independent of everything else, via the call centre so would be worth trying that. Call 1333 and give it a go
Paul ********
OP@John *********
the 2 m is if you direct transfer to someone’s account. But an online payment is only 150,000 and always has been.Chris ****
For major purchases domestic cc with no international fees or bank check or wire.
Paul ********
OP@Chris ***
just mainly for Business and 1st class flights. So I don’t have to purchase them in £ when the rate is lowChris ****
@Paul *******
my bank allows me to choose baht or dollars. Perhaps they can do the same for you?Paul ********
OP@Chris ***
it’s not the currency it’s the limit is the problem and most people don’t know when they open their accounts. Well I thought the withdrawal amount was unlimited.When in the uk I bought my brand new BMW on a debit card
Rancy *******
I never listened from this Bank! Doesn't exist in Thailand! KAROKAN ????
Paul ********
OP@Rancy ******
spell check
Dennis ***********
@Rancy ******
Think it KASIKORN BANK
Nigel ********
Not sure what you mean I used my Bangkok Bank app on my phone and paid 1,000,000 for my truck without any issues 🤔
Paul ********
OP@Nigel *******
yes but direct into their account. Try to buy something online when you enter you card number it’s only 150,000Nigel ********
@Paul *******
OK cheers 👍
Tohksic ******
I got a secured credit card (not a shitty debit card that offers little fraud exposure protection) from Bangkok Bank by simply opening a fixed deposit account (I put 1m into mine so that's my limit) and pay off the card by direct deduction from my other, regular savings account.
Hans-Georg ******
The Karakoran Bank is a good bank!
Mika ********
@Hans-Georg *****
huh ?
Lee *********
👍
Russell *******
You don't need to pay anything to open a Bangkok bank account apart from a small fee for ATM card . There shouldn't be any restrictions on transfers with Bangkok bank.
Dave *********
Is that amount for a debit card ?
Because on my online banking I’m quite sure it’s 2m a day
Because on my online banking I’m quite sure it’s 2m a day
Paul ********
OP@Dave ********
yes you can do 2 m into another account but if you buy online like an airplane ticket it’s only 150,000 for an online transaction from a debit card. Whereas in the uk the limit is the amount in your accountPaul ********
OPI want to use my Thai currency because I change it when the rate is good. If I use a debit or credit card from home the rate is crap
Ernesto ********
@Paul *******
why couldn’t you use a credit card from home bank ?Dave *********
Which banks are the best to open account with
Mark ********
Paul ********
OP@Dave ********
kasikorn does about everything you need. Although I have a Bangkok on to.Dave *********
@Paul *******
thanks for your helpMark ********
Bangkok Bank tried that on with me to open an account. "You need to buy insurance to open an account"..think it was 5000 baht. "No, I don't want any insurance" Ok, no ploblem" They love to try it on.
Neil ********
@Mark *******
absolutely. It’s a conDennis ***********
@Mark *******
Correct,call there bluff.Ins,NO THXMichael ********
You can adjust the online amount in the bangkok bank app
Paul ********
OPAs I thought I could pay anything out but they don’t allow that. Very strange
Paul ********
OP@Michael *******
only up to 150 k unlike in my home account there is only a limit of how much you have in the accountMichael ********
@Paul *******
for debit card *****
0 I know online can be more because did that last year a *****
0 transactionMichael ********
@Paul *******
yes i just checked your correct its *****
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