This is NOT an official government website. We are an independent resource providing information and assistance to travelers.
What are the recent challenges foreign expats face when opening bank accounts in Thailand?
Thai Banking RegulationsVisa IssuesForeigners Banking in ThailandRetirement VisaBank Account OpeningFinancial ComplianceMoney LaunderingResidence CertificateSIM Card Regulations
TLDR : Answer Summary
Recent discussions indicate that banks in Thailand are tightening regulations on bank account openings for foreigners, particularly those on tourist visas. This is attributed to concerns over scams and money laundering. To open a bank account and apply for a retirement visa, foreigners typically need to establish a residence certificate, which requires residing at a permanent address for at least three months. As a result, many foreigners find it difficult to open accounts due to their visa status and the banks' new compliance requirements.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
Pelle Eriksson★★★★★
Absolutely Bangkok's best service I highly...recently on Facebook
Luca G.★★★★★
I used this agency for my DTV Visa...recently on Google
Trusted Retirement Visa Agent
OVER 100,000 EXPATS SERVED
#1 VISA AGENT IN THAILAND
Rok ********
If TikTok cannot do it no other agency can. They are a bunch of very hardworking and well connected girls.
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.
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.
***********************************************************************************************************************************
*****
9-thailand-to-implement-stringent-compliance-regulations-for-new-bank-accounts?Sean *******
******************************************************************************************
**********
**********
*****
*****
*****
/posts/*****
*****
*****
3/?mibextid=rS40aB7S9Ucbxw6vWannikea *********
ORIGINAL POSTER@Sean ******
So banks and credit/debit card issuers benefit with massive fees and forex rate for ATM withdrawals, Thai banks don't have to deal with administrative costs for opening and maintaining a bank account for basically a tourist with likely low balances. Another win/win for bankers.Reply to
Wannikea *********
Reply
Glenn **********
Yea, there was a column in the Bangkok Post about it a few weeks ago.
Sean *******
It's because of scammers. They will also check that everyone's Thai SIM card has the same registered name as the account holder.
Tommy ***********
@Sean ******
it's true, I got this message from my SCB app recently. Which is weird because my SIM card does match my Bank account name, both required the same passport to get it... 🤷🏻 Oh well I'll go see them when I'm back and see what it's all aboutSean *******
@Tommy **********
That is strange. I'm on my third SIM card since I opened my bank account. The first two numbers are dead but were in my name. I haven't been notified yet. Krungthai bank.Reply to
Sean *******
Reply
Ben **********
@Sean ******
who will check? Where? How?Sean *******
@Ben *********
The banks will check their records and phone numbers. They will notify people who's don't match before the 1st April. And might freeze account which don't.Reply to
Sean *******
Reply
Greg ********
I posted that too. Will delete the duplicate. TikTok have been around a long time and they are very well connected.
AllSabai ******
@Greg *******
welcome if needed 😊🙏Reply to
AllSabai ******
Reply
David ************
I hope drivers licenses become the same. Where applicants actually have ro do the tests and prove they have the skill and knowledge to use a car or bike in thailand.
I know I am dreaming
I know I am dreaming
Stefan ******
@David ***********
Even if the govt was willing, most Thais just don't have the money that would be needed to get a proper theoretical and practical education. So yeah, that's not gonna happen.Alex *******
@Da***
I think you are definitely dreaming cause most Thai people don't even have a license 🙂Jon **********
@David ***********
afaik all these ads that claim you don’t need to attend are just scams who steal your deposit 🤷♂️Greg ********
@Jon *********
Correct.David ************
@Greg *******
boys. I have mates who never even went to DMV. Sadly it's a truism.more farang road killGreg ********
@David ***********
The overwhelming majority of those ads are scams. The Department of Land Transport has issued notices about it.Reply to
Greg ********
Reply
Steve *******
@Jon *********
they are exactly that. Always posted by profiles with photos of light skinned skinny women, because that's what works for scamming Thais and old white men.You have to physically be at a training facility for 15 hours to get your license, legally.
Reply to
Steve *******
Reply
Greg ********
@David ***********
With TikTok you actually have to go to the test centre etc. They just take people to a less busy one and facilitate queue length.Reply to
Greg ********
Reply
Yaowalak ********
right now very strictly for some nationality maybe can do again round April
David ************
Team can I suggest you look at a wise bank account. Keeps ypur money offshore. Automaticslly comverts to thsi naht at good rates. Get up to 5% interest on money in it. I don't bring banking into thailsnd. Just cash and wise.
May help in future with tax issues if ypu don't use deposits system. DTV is a tourist/soft visa so your not a resident. Do your own research.
No benefit for me.
May help in future with tax issues if ypu don't use deposits system. DTV is a tourist/soft visa so your not a resident. Do your own research.
No benefit for me.
Koin ******
@David ***********
for retirement visa thai account is mandatoryLachlan **********
@David ***********
until they cancel you for no reason and no recourse.David ************
@Lachlan *********
honestly never had a problem. Only problems I have heard are guys not providing ID trying to aVoid tax. Guess until proven wrong.Lachlan **********
@David ***********
You have to be VERY careful about where money comes from going into the "account" and who you send it to. They have no obligation to provide a service and if anything they perceive as putting their business model at risk or increases compliance requirements comes in contact with your "account" - then they will close it.Reply to
Lachlan **********
Reply
Dany ********
@David ***********
not a good idea to have large amount of money in Wise if we consider all the negative reports about accounts beeing locked overnight and people struggling for months with the support to access their money again. Its great for quick transfers but i would just only use it like that and only have small sums in their bank.Paul *******
@Dany *******
Agreed. I have backups for Wise, in case of issuesReply to
Paul *******
Reply
Jason *******
@David ***********
not great mine got frozen and closedLachlan **********
@Jason ******
it's a super common problemHasan ***********
@Jason ******
Would suggest Revlout on the upgraded metal plan in this scenarioHan *****
@Jason ******
Same for me.Reply to
Han *****
Reply
Riccardo ************
@David ***********
how do you withdraw from wise if you don't transfer to a bank account?Wannikea *********
ORIGINAL POSTER@Riccardo ***********
Wise debit card for those that have one.Dany ********
@Wannikea ********
with the usual 220 baht atm feeRiccardo ************
@Wannikea ********
yeah I just checked and they don't give it to me hahaReply to
Riccardo ************
Reply
Salah *********
I heard it s because of the scams and underground lottery apps using Thai bank accounts with foreigners names.
So mainly it s a bank account problem, and if you can t open a bank account you simply can’t apply for a retirement visa in thailand, as you can’t open an account on a tourist visa anymore, bo matter what
So mainly it s a bank account problem, and if you can t open a bank account you simply can’t apply for a retirement visa in thailand, as you can’t open an account on a tourist visa anymore, bo matter what
Joe *********
@Salah ********
yeah its gotta beJordi *******
I opened my bank account on a tourist visa 5 months ago
Greg ********
@Salah ********
For Reitirement you get an initial 90 Day O based on retirement. You open bank account with this and seed the money. Then after 90 days you get a 12 month extension once money has been in bank for the qualifying period. No need to open account on tourist visa.Greg ********
@Salah ********
Scams, money laundering etc are definitely a major issue as is the CRS reporting overheads. Is it commercially viable for a branch to open accounts for non-Thai.Reply to
Greg ********
Reply
29 comments
a year ago
3 comments
a year ago
49 comments
a year ago
20 comments
a year ago
47 comments
2 years ago
40 comments
2 years ago
27 comments
2 years ago
9 comments
2 years ago
21 comments
2 years ago
21 comments
2 years ago
78 comments
2 years ago
35 comments
2 years ago
183 comments
3 years ago
16 comments
3 years ago
What are the requirements for a foreigner to open a bank account in Thailand with minimal paperwork?
12 comments
3 years ago
14 comments
3 years ago
93 comments
3 years ago
18 comments
4 years ago
26 comments
4 years ago
26 comments
4 years ago
48 comments
4 years ago
32 comments
5 years ago
102 comments
5 years ago
46 comments
8 years ago
7 comments
a month ago
9 comments
a month ago
21 comments
a month ago
16 comments
a month ago
8 comments
a month ago
The ask:thailand community, consisting of multiple Q/A groups with over 100,000 members, powers this platform. It is not an official government resource. Our members actively contribute to this resource, and while we strive for accuracy, we cannot guarantee its complete reliability. Assistance to travelers is provided as a community service.