Answereda year ago
What are the recent changes to deposit procedures at Thai banks regarding KYC regulations?
Throwing my Tuppence worth into the "Great Thailand Bank Robbery", I run a few bank accounts here in Thailand. I use Bangkok Bank for my 65k monthly transfers, and withdraw a lump sum each month which I pay into my SCB account for QR code scans, the logic being when I produce the 12-month Bangkok Bank statement to immigration there's only 2-3 transactions each month so the statement is only 2-3 pages in length. This makes life easier for the IO, and subsequently makes life easier for me!
I want to pay 10,000 baht into my SCB account yesterday through a deposit ATM, and the machine wouldn't let me do this. Message said my card was not acceptable for deposits (it has been for the last 6-7 years), and that I had to report to my branch. The branch was right there at the machine so I went inside and was presented with a card, a picture of which is shown here. Apparently my passport was required to make a deposit under these new KYC regulations.
I nipped home, got my passport and returned to the branch. I watched the bank officer very carefully and observed she photocopied the data page, then went hunting for the visa. She found the right extension stamp and the most recent entry stamp and photocopied these. She then sat at her computer, rattled the keys a bit, took the 10,000, passed me a deposit slip to sign (in two places), passed everything back to me and said everything is ok now.
I tried the ATM afterwards and everything was fine.
I asked my girlfriend to call the SCB call centre, who informed her that they cannot assist with individual situations, the bank is undertaking their responsibilities under KYC and are confirming the identity and visa status of all customers, including (in the case of identity) Thai nationals.
I want to pay 10,000 baht into my SCB account yesterday through a deposit ATM, and the machine wouldn't let me do this. Message said my card was not acceptable for deposits (it has been for the last 6-7 years), and that I had to report to my branch. The branch was right there at the machine so I went inside and was presented with a card, a picture of which is shown here. Apparently my passport was required to make a deposit under these new KYC regulations.
I nipped home, got my passport and returned to the branch. I watched the bank officer very carefully and observed she photocopied the data page, then went hunting for the visa. She found the right extension stamp and the most recent entry stamp and photocopied these. She then sat at her computer, rattled the keys a bit, took the 10,000, passed me a deposit slip to sign (in two places), passed everything back to me and said everything is ok now.
I tried the ATM afterwards and everything was fine.
I asked my girlfriend to call the SCB call centre, who informed her that they cannot assist with individual situations, the bank is undertaking their responsibilities under KYC and are confirming the identity and visa status of all customers, including (in the case of identity) Thai nationals.
Answer summary
An expat discusses recent KYC (Know Your Customer) complications experienced while trying to deposit funds in Thailand. The process required new identification verification, including photocopying a passport and visa stamps, which the author found cumbersome but ultimately manageable. Many comments reflect frustrations with the Thai banking system, indicating that while KYC is important for security, its implementation can be overly complex for expats. Others share similar experiences and cautionary tales regarding bank services and identity verification.
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Brett *******
I had a similar situation on this past week. Went to open a bank account with SCB, who I had banked with 10 years ago. I need the account as I have just started a job and salary needs to be paid. Knowing not having used my old account didn’t mention it. When I presented all my paperwork, the SCB officer stated that my passport number was not the one they had on record. Yes I stated it is an old expired passport, this is my new one. I then got sorry we cannot open you a bank account as you don’t have the correct passport. Despite the constant to and fro about how Aussie passport numbers change on renewal, they refused to open a new account as I already had a profile in their system with a different passport numbers change. They were not able to get their head around this fact. I worked in Thailand previously for over 20 years and this is my first return as an expat on a Non-I B visa and Work Permit, with hopes of retiring here in 6 months. Can now understand everyone’s frustration with the banking system.
Mike ******
If Thailand can complicate things, they will; then they bleat about tourist numbers falling. Every ex-retiree will encourage friends/family to visit. We are a valuable asset to TAT. I have been here 22 years and average three people per year YET petty-fogging rules drive farangs away. Banking/Immigration rules are brainless and pointless but nobody changes them.
David *******
OP@Mike *****
The clampdown on bank accounts does not affect tourists at all. And the only changes in recent years to tourist entries, is the increase from 30 to 60 days without at visa, so your information is totally wrong
Steve ********
@Mike *****
You've gone totally off topic. This post is about expats living in Thailand. It's not about tourism. Bank accounts are nothing to do with tourists. Stay on topicDavid *******
OP@Mike *****
Ok. I'll try to get the other side of the story without resorting to infantile insults. I'm a father. My children and friends visit me often. They ask me how is life here. I tell them it's great. It's so easy to live here. Once a year I go to immigration to extend my stay. Costs me 1900 baht. They laugh at how cheap and easy it is for a foreigner to live here. They see how cheap accommodation is here, they see how cheap it is to go out to eat, drink and have fun. One daughter has already indicated her and her boyfriend will get married on Samui as it's so cheap for Aussies to get there, and so cheap to put on a great wedding when compared to Australian prices. They go away with a positive view of things. This may influence their future decisions.Now, shall we discuss TOURISTS who don't need bank accounts and get a 60-day free entry stamp?
Mike ******
I don't know how to make this clearer. I can't think you are this thick as you express yourself correctly if at times colourfully. I am the father. I have lived full time here for 22 years. During this time I have had many visitors - friends/relatives. If I am having a bad time with Thai banks or Immigration, I might discuss it with them. They will go away with a negative view of all things Thai. This may influence future decisions about holidays or where they themselves might want to retire to. Tourists are potential retirees.
David *******
OP@Mike *****
I'm talking about tourists. Why don't you read the post properly? You think every single tourist has a father living here? Jesus wept!Mike ******
'They are totally unaffected by what's going on with retirees.' If the retiree is their father and his bank account is frozen, they wouldn't care? You've got some cold-hearted relatives/friends.
David *******
OP@Mike *****
I've not been treated badly by my bank, so any visitors I have will get positive feedback. I'm sure most tourists go to see the beaches and the islands, and the mountains around Chiang Mai and Mae Hong Son. They are totally unaffected by what's going on with retirees. I went to Germany for a month earlier this year to visit Erzgebirge, Harz Mountains and a cruise down the Rhine. To be brutally honest, I couldn't have given a flying fบck about any bank account issues that retirees were experiencingMike ******
David, read my comment again. Tourists are potential retirees; they come to visit relatives/friends in Thailand and take back negative reports about how Thai banks are treating their father (in my case.)
Peter ***********
I do the same. BBL for inward FTT and removed immediately to SCB due to BBL insider scam withdrawals a few years ago. However I do it online. Takes seconds and require no verification.
Per-Arne ***********
KYC goes for all banks worldwide but
in my Nordic country it’s an easy procedure I do online myself but you
can also make it time consuming and complicated if you like bureaucracy 😉
in my Nordic country it’s an easy procedure I do online myself but you
can also make it time consuming and complicated if you like bureaucracy 😉
Frank *********
It is incredible how many problems modern day life presents, it's one after the other, nothing works anymore. Please universe send me back to the eighties, i am tired of this shit
Marty *********
I don’t have a problem with the KYC policy. The process to get where they are to where they want to be is a bit of a disaster though.
I had my Kasikorn account hacked last year. I would have appreciated some controls. I’ve got a Bangkok Bank account now. No problems at all with it. I opened it with an LTR visa. Got my face scanned. My phone number and bank account have the same passport number.
I had my Kasikorn account hacked last year. I would have appreciated some controls. I’ve got a Bangkok Bank account now. No problems at all with it. I opened it with an LTR visa. Got my face scanned. My phone number and bank account have the same passport number.
David ******
They must be sending a new bank card out to you .
Yash *******
I can’t find the print icon, so difficult.
Mike ******
If Thailand can overcomplicate things, they will. No wonder tourists are flocking to Vietnam.
Mike ******
Still waiting Ron Duke. I answered your comment, 'It's a simple question- I can afford 5 star hotels in Vietnam but you want me to pay Thai price. How can I get round this conundrum?
Sue **********
@Mike *****
To live there? It seems you missed a lot and never made own research. They don‘t have retirement visa and plus you cannot open bank account there either, only if you get an electronic Identification (e-ID). And they just froze 80 million bankaccounts some weeks ago, by the way.Richard ********
@Sue *********
Those accounts were closed/suspended due to inactivity, zero or very low balances or because the account holders had not been biometrically scanned.It was not some draconian knee jerk reaction like Thailand so often has, but a well thought out and implemented policy to reduce scams.
Opening a bank account is still possible with a three month visa.
Richard ********
@Mike *****
Tourists maybe, but for the long-term Vietnam is not where they are flocking.1. Opening a bank account is not easy, and only valid for the length of your visa, after which it is suspended until you rock up personally with a new visa. See 2.
2. Without work or marriage, you only get a three month visa, and have to leave the country. No extensions possible.
3. Without a long-term visa you will not get a driving license.
4. There are virtually no western style bars.
5. Vietnamese women are not interested in retired old westerners.
Mike ******
@Richard *******
Number 5 is the main reason why Thailand still has a tourist trade. (The numbers show the principal visitor numbers are crossing from Malaysia at weekends to shop for oats!) Thank you for enlightening me about 1-4. I go only for holidays; to enjoy affordable 5* hotels; good friendly service; excellent food and cheap alcohol - Vietnam draught beer is a third the cost of Thai stuff.Mike ******
@Ron *****
I want beer but it's cheap. What do you want me to do - offer more?
Ron ******
@Mike *****
You like 5-star hotels but want cheap beer? Classic!Richard ********
@Mike *****
Yes, I like Vietnam.One thing is sure, they are not lazy. I visit every year for a few months at a time. Each they have made noticeable improvements.
I used to drink copious amounts of beer at 15 baht a can or the Bia Hoi, but unfortunately more than one can and I get a headache in the morning, so I have drastically reduced my intake.
Being a socialist government and much of the land being State owned, I appreciate the affordable recreational facilities and the large parks in the cities, with well maintained flowers, playgrounds and lakes.
In the UK they would be destroyed in a week by vandals and thieves.
I'm currently in Dalat, every day a few showers, temperature 18-24 degs and an abundance of flowers everywhere....
David *******
OP@Mike *****
This is nothing at all to do with tourists, so I don't know your pointMike ******
If an ex-pat suffers at the hands of, say Bangkok bank, as so many have done recently, their negative view is reflected in their comments about Thailand. TripAdvisor exists through these Chinese Whispers. Good/bad comments spread like wildfires. Thailand has been burning for some time as their idea of service is compared to that of Vietnam - which resembles what I experienced when I first came to live here fulltime 22+ years ago.
David *******
OP@Mike *****
If I was taking a holiday to Germany, it wouldn't influence me at all if a German bank was giving some of its customers a hard time. How does that affect me? What probably isn't being well publicised, because these groups are specifically for foreigners, is there are two sides to every story. If foreigners (for whatever reason) are not playing by the rules, they should expect some pushback, and that's what's happened. Sadly many westerners in Asia have a superiority complex and believe they are entitled to whatever they want in Thailand.Mike ******
Tourism is about service and the perception of service, usually conveyed by word of mouth. Thai banks/Immigration offices offer poor service not just to ex-pats as detailed here, but to their friends/acquaintances often through FB and the like.
David *******
OP@Mike *****
So that's like Chinese Whispers isn't it? People spreading stories and adding their own little snippets along the way. This is about expats having bank accounts verified - so nothing to do with tourists and immigration. Personally I think more tourists are going to Vietnam because the resorts are better and beer is infinitely better. Tourists don't care about bank accountsColin **********
When did you open the account? Which location you at?
David *******
OP@Colin *********
About 10 years ago. Bang NaColin **********
@David ******
cool
Paul ********
Fly on the wall in government meeting ..... "Everything seems to be going well with the expats" ...... "Mmmmmm .... we can't have that ...... why don't we start closing bank accounts? That would surely cause some issues"
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