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What challenges do expats face when opening a bank account in Thailand?
Thai bank accountexpat bankingvisa and banking requirementsforeigners and banking in Thailandbank insurancefinancial regulations in ThailandNon-O visa implications
Sep 6, 2019
7 years ago
Robert ********
ORIGINAL POSTEROpening 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.
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.
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Ian *******
Just as well I got mine 2 months ago on a tourist visa then ain't it.
Tom *****************
@Ian ******
where? Did you need rental lease agreement?Reply to
Tom *****************
Reply
Nathan ***************
Just let your thai partner do the talking
I had no problem opening a joint account and the wife says opening my own account to deposit 400,000 baht would be the same
Very easy
We are in Chiang Rai and go the bank in Mae Chan
Done in minutes mate
Photocopy of passport and a few signatures and that’s it
I had no problem opening a joint account and the wife says opening my own account to deposit 400,000 baht would be the same
Very easy
We are in Chiang Rai and go the bank in Mae Chan
Done in minutes mate
Photocopy of passport and a few signatures and that’s it
Amanda *********
Try kasikorn. Only passport and workpermit is needed
Steven ***************
Kasikorn as I said. Passport and a thai to tell them there is no law that says they can deny you an account.
Different branches set their own bullshit rules. Government owned banks can't deny you one.
Different branches set their own bullshit rules. Government owned banks can't deny you one.
Tom *****************
@Steven **************
where? And what did they require?Steven ***************
@Amanda ********
. I got one at Kasikorn without a work permit .Reply to
Steven ***************
Reply
Steven ***************
Go to Kasikorn or KTB near Ari BTS. There's a high population of expats here and they are used to dealing with foreigners. Never had an issue in over two years. Always helpful.
Keith *************
Unbelievable. I must have opened 5 or 6 accounts here. Never had a problem.
All SCB. Changed when moved province.
All SCB. Changed when moved province.
Larry ******
Move to Cambodia none of this
Thomas ********************
Get a "letter of reference" from your embassy. And go to Bangkok Bank. Easily done!
Robert **********
Wayne Jaeger Bangkok Bank insisted on keeping my original letter, Krungsri just made a copy.
Thomas ********************
Just relayed my experience. The guy was looking at my passport with a concerned expression. Then I handed that letter to him and he lit up like a christmas tree and made my account. It most certainly makes things easier.
Rob ******
Sucks for you but it seems every branch manager makes their own policies. Two of my accounts are at the Silom HQ and I've never been asked.
Rob ******
Wayne Jaeger I have three accounts at BBL and have had nothing but excellent service so your experience is not the rule at all.
Reply to
Rob ******
Reply
Jos *********
2 banks or NOT enough. Keep trying and be persistent, finally they collapse.
Try branches in areas with a lot of foreigners
Try branches in areas with a lot of foreigners
Werner *******
If you can't get an account at one bank, walk out and go to another bank or another branch. Eventually, you'll find one that gives you what you want with a simple visa in your passport.
Goudoune ************
Go to a country Happy to welcome you, Thailand has become highly xenophobic
Ken ******
I opened one recently here in Phuket. They initially said no, then I let my wife do the talking. The women had to make a phone call and then the tune changed.
Bring a Thai and be persistent.
Welcome Dallas. Plano here.
Bring a Thai and be persistent.
Welcome Dallas. Plano here.
Ton ******
yes, the correct way. Bring a female thai person and let her do the talking. Say it is your wife (they will not check, i am sure).
Will work
Will work
Reply to
Ton ******
Reply
Frederick *********
Always take your Thai speaking partner or friend with you when applying. I opened two accounts last year, letting my Thai partner do all the talking and explanations.
Maxim ***********
It is hard to open a bank acc for foreigner in Isan, ive try 10 of them.
Henrik **************
Just go to Krungsri, Kasikorn or Krungthai.
Keith **************
Try Krungsri Bank (The yellow bank) Thong Lo branch walking distance from the BTS. No work permit needed only proof that you have a lease agreement for 1 year and your passport. Best bank I have ever dealt with and their app and internet banking is superior to Kasikorn or SCB or Bangkok Bank
Robert **********
@Tom ****************
I have account at Sukhumvit 31, near Emquartier. I brought USA embassy letter of residency, condo contract, printout of USA accounts with large balance, 60 day tourist visa which I later changed to non O retirement. I got savings account and debit card, mobile app and internet banking. I dressed professionally.Dimitri ********
@Tom ****************
I visited several and they all said to go to a branch near my condo. I went to the Krungsri in the Tesco Lotus at On Nut BTS. They opened an account for me without problems. This was some months ago. I only needed my passport and a 1 year rental contract.Tom *****************
What's the easiest krungsri then? I got an NRBA with them and would like to have a proper one with more functions
Zabel ******************
Garrett Greenwald
Yes but aleast you have a wider range with options of branches
Yes but aleast you have a wider range with options of branches
Zabel ******************
Garrett Greenwald
Guess Your right not all province are easy going in that way
Guess Your right not all province are easy going in that way
Keith **************
Garrett Greenwald ahhhh
Reply to
Keith **************
Reply
Jamie *******
Go to another branch. Some are more cooperative than others, some are full of shit.
Zabel ******************
Nobody force you to do anything but if you wanted an account in one of these two branches they wanted you to buy the insurance each brance to Thier own
Zabel ******************
Robert Pruitt
All I can say if from my own experience and friend's and what I read out from that is my statements o have never personally had any problems with opening an bank account
All I can say if from my own experience and friend's and what I read out from that is my statements o have never personally had any problems with opening an bank account
Zabel ******************
Robert Pruitt
Yes some bank's do want you to buy and insurance but you could juts have gotten a cheaper one anyways each branch have their own policy about this so you should just go around and you will end up with one who would do it
Yes some bank's do want you to buy and insurance but you could juts have gotten a cheaper one anyways each branch have their own policy about this so you should just go around and you will end up with one who would do it
Reply to
Zabel ******************
Reply
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