Opening a Thai bank account part 2: This has been a royal pain in the neck (pun intended). Here is my current status. They are telling me I need someone in authority for the Thai government to vouch for any new account holder. Although I am not over 50, I am 39, I have to buy a full year of insurance for 25,000 ([[members only])). I told them I do not want insurance because I am below the age limit and they are telling me it's to secure my account. So basically, everyone has to pay.
So, let me break down what I have learned about getting a Thai bank account.
1) Having 400,000 baht to put away for 3 months isn't enough anymore. This is recent, so if you just did this a month ago and it was no problem, count your blessings. This is new.
2) They force you to buy their 25,000 insurance in order to "vouch for you" and "secure your account". I have verified with 2 different banks in 2 different cities.
So, in summary, it seems to me that they are trying to get all the non-Thai that are not good income producers to be unable to complete this process.
I was told that I could get the income verification I need and not buy the insurance from my Embassy, the US embassy has stopped to give. I verified this ([[members only]/)).
I also just found out that I have to prove the 400,000 baht in the account every year.
I'm seriously thinking about just re-applying for a Non-O every 3 months but I have no idea if that is possible.
As it stands, I have an appointment with some guy in the UK who knows the bank manager, 25000 to open the account and 5000 to put into the account. Pain In The Neck.
TLDR : Answer Summary
This post discusses the complications faced when opening a bank account in Thailand as a foreigner. The author highlights the requirement for a government vouch and mandatory insurance of 25,000 baht, which they argue is unjustified, especially since they are under 50. Updates on the necessity of proving 400,000 baht annually are shared, along with personal challenges and the need for persistence in dealing with different banks. Community comments suggest that experiences vary significantly between branches, with recommendations for banks that are more accommodating to expats.
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.
