Answered3 years ago
What are the current requirements and best options for opening a Thai bank account as a retired expat on a tourist visa?
yes I've searched the archives and they quickly age and become less relevant. Same old question re: bank account opening and or finding an affordable agent. I got one quote from agent to get visa for 70000 baht, which isn't going to happen. I've been in Thailand about two months and have received an extension on my 30 day and bounced to vietnam coming back New Years eve.
72 year old usa male, retired with 800k to burn..
72 year old usa male, retired with 800k to burn..
Answer summary
A retired American expat in Thailand is seeking advice on how to open a Thai bank account while holding a tourist visa, especially after receiving a high quote from an agent for visa assistance. The discussion reveals that while it can be challenging to open a bank account as a tourist, some banks may allow it with certain documentation. It’s suggested to explore local options in Pattaya, and that a retirement extension may be attainable without heavy costs, promoting a conversation about agents, the necessity of $800,000 deposits, and navigating associated bureaucracy.
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David ********
If you're American then add people pointed out there are agents, use them (I think you confirmed you were going to, but for other Americans that may change upon this thread.)
The USA is a 'special' case where the IRS owns you no matter where in the world you go, and for that reason if Thailand banks want to keep in good stead with American banks they need to adhere to American laws converting Americans ... So there's a ton of paperwork (and hassle) needed for a Thai bank to open a bank account for American citizens ... Most Thai banks/branches don't even want to bother ... That's where agents work their (don't ask/don't tell) magic.
The USA is a 'special' case where the IRS owns you no matter where in the world you go, and for that reason if Thailand banks want to keep in good stead with American banks they need to adhere to American laws converting Americans ... So there's a ton of paperwork (and hassle) needed for a Thai bank to open a bank account for American citizens ... Most Thai banks/branches don't even want to bother ... That's where agents work their (don't ask/don't tell) magic.
Kool *******
@David *******
it goes much deeper than the IRS. You are aware that Thailand's main business concerning GDP is export, with small parts and electronics as the main export items, but are you aware that the USA is the number one country buying Thai exports, more than China, or any other country. That is the main reason Thailand adheres to American, and international, banking, and anti-money laundering laws.David ********
Oh, I'm aware 😉 I'm in Chiang Mai where the old US consulate was just replaced with a half a billion dollar complex (not sure if you are aware home much $0.5B USD will buy in terms of land in Chiang Mai (hint: it's more than one building like most large consulates have in Chiang Mai!)... The USA doesn't have that many expats living in Chiang Mai ... but Chiang Mai is the closest large center to Myanmar where I am sure the USA is not instigating any of the violence going on there, and is certainly not using any of that $500,000,000 complex as a monitoring & control center for illegal interference in another country's business ... but this is not a political board, so I only mentioned the 'pointy end of the stick' as it concerns American's looking to open a bank account.
James ********
800k … to burn ….. How much furniture do you want ? 😂😂. $US presumably…..
Nick **********
Once you get a bank account and put in the 800,000, getting a non-o for the It is not difficult without an agent. After 3 months you roll into a 12 month extension of stay for "purpose of retirement". No such thing as " retirement visa". The cost doing it yourself is 2000 baht. I just changed country passports and am in the process now. Lived here for many years
Incognia **********
@Nick *********
some banks also want work permit.Non O not enough some banks.
Steve ************
OP@Nick *********
ah good to know. One person suggested they could open an account for *****
.
Moadi ******
You have to do a 3 months non-o visa, you show this visa at the bank and can open an account. Deposit your 800, after 2 months you can request a retirement extension at immigration
Tulip ********
Seems such a waste to burn it with all the heat already. I will send you a prepaid brown envelope.
Steve ************
OP@Tulip *******
I appreciate your reciprocity
Aaron *******
If in Pattaya, go to Bangkok Bank on 2d Road, near Soi 6. I was able to open an account there 2 years ago, on Visa Exempt stamp. Just needed to get a Certificate of Residence at Jomtien Immigration, based on TM 30 filed by hotel. Piece of cake. And they are always very helpful everytime I do business there.
John *********
@Aaron ******
a lot has changed in 2 year's 🤔Aaron *******
@John ********
That's why I mentioned it. All they can do is say no. And if they do, say no, they will be extremely professional and courteous.
Bob **********
You don’t have to burn the 800k just deposit it in a Thai bank you can spend it down to 400k after you’ve had your extension for 3 months
Kool *******
@Bob *********
that's all well and good, but he's asking how to open a Thai bank account on a tourist entry, and that is not easy to do anymore.Bob **********
@Kool ******
so nobody can get a non-o extension??
John **********
Where are you located ?
Steve ************
OP@John *********
bangkokJohn **********
@Steve ***********
OK. I had an agency in CM highly rated and likedTo**
Google maps search visa near me
Steve ************
OPI tried to email them, but the ads at the bottom cover up the email submit button.
To**
@Steve ***********
****************************
Steve ************
OPthanks so much
To**
I use tiktok in Jomtien
Noel *********
Mots Services pattaya...give them a buzz...also on Facebook..
Gregor **********
bank account, visit
@Stefan *******
in Pattaya, it is somewhat like 5000.- THB for an account at any Thai bank, on tourist visa no problem. No insurance scam
Steve **********
@Gregor *********
bkk bank..Zero, just put min on as bal. If declined, go to another branch
Tony ******
@Steve *********
times have changed new bank agreements anti money lauding lawsSteve **********
@Tony *****
TIT, the only constant in Thailand is 'change '....Opened my 1st on tourist visa, staying at Majestic Suites, Sukhumvit soi.4took 10 min, my passport, and 500 bt dep. ATM, card cost 100.
Ya, I guess times have changed, the bank has become dictator
But still with them 20 years later.
Terary **********
I opened a bank account at Bangkok Bangkok, Pattaya (soi bakhao). I had to pay 8000Baht for some insurance or something.
Nongnuch ********
@Terary *********
you need to cancel this worthless insurance, or they will bill you 8000.- THB every yearJohn *********
@Terary *********
a agency does it for 5000 bahtSteve ************
OPme too
Deepark *******
@John ********
may i have agency contact pleaseJohn *********
@Deepark ******
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