What should I do to prepare for opening a bank account in Thailand on a retirement visa?

May 10, 2023
2 years ago
Marian *******
ORIGINAL POSTER
I came to Thailand this time to open bank account on which I will be able to transfer money to have retirement visa in Thailand. I came with 60 days travel visa. On third day after my arrival I came to government office to get my resident certificate. April has lot of government holidays. My resident certificate came after 4 weeks, on April 28. I came to Bangkok Bank to open account with all needed documents on first working day in May.

it was Tuesday May 2. At the bank I been told that from May 1 they have new regulation - I have to have not less than 30 day to end of my visa ( no extension) and I have to have sticker from Thai Consulate in my country on my Visa. Before I left my country I been told to apply for electronic visa, and this what I did. I have my visa till May 19 and going home without having open bank account. The all banking regulation and government regulation are against each other. How i have to prepare myself to open bank account next time I came to Thailand? Please advice me.- Thank you. I’m in Chiang Mai.
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TLDR : Answer Summary
The user recently faced challenges while trying to open a bank account in Thailand due to new regulations requiring at least 30 days left on a visa and a consulate sticker. Despite having all necessary documents, including a residency certificate obtained after a long wait, their 19-day visa period was insufficient. They are seeking advice on how to better prepare for a successful bank account setup during their next visit. Community responses suggest alternatives such as visiting multiple banks, using an agent, and ensuring proper documentation. There are also personal anecdotes about navigating the banking system in Thailand.
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.
Marian *******
ORIGINAL POSTER
Thank you for support with comments. I talk with many banks and all told me since May 01 all banks has to follow the rules, to open bank account - I have to have not less than 30 days on my visa. I had only 19 days. I arrived to Thailand March 21, on March 23. I applied for residence document and I received on April 28. Next working day was May 02 and I had only visa till May 19. I did all what I should do, I was waiting over 30 days for my residence certificate and this ruined my chance to open bank account.
Glenn ***********
I ran into similar issues -- went to at least 10 different banks and branches around Bangkok in late March and early April only to be told finally by 2 of them that the Bank of Thailand (the gov't agency the makes the rules) made some new rules in March that make it much harder for people to open bank accounts on tourist visas (or visa exempt, etc) -- one of the main law firms in Bangkok told me the same thing (this is a firm that used to do it for folks for 5,000 baht for a letter to the bank from their firm). I ended up getting an ED visa since I wanted to learn the language anyway, and it was easy to open a bank account with my ED visa and a letter from my school.
Glenn ***********
I don't know all of the rules but I know that some schools will help you get a 6 month visa for studying with them. I don't know about their age limits, sorry. I'd suggest asking a few more.
Chan ******
@Glenn **********
You get this visa for studying 1 year or 3 months or 6 months please? My mother is aged 79, asked some schools, they do not accept her by saying she is too old. One school said okay but recently an applicant from Hong Kong is pending from MOE.
Ken ********
Go to a different branch they all seam to have their own rules
Andy ********
Opening a bank account is the only valid reason i know for using an agent....

money well spent...trust me
Dan *******
@Andy *******
how much do they charge?
Chan ******
Is there any agent in Bangkok or Pattaya can help please? I have asked several agents, they all said not do for Hong Kong passport.
Andy ********
@Dan ******
I paid 1,000 baht in Chiang Mai in Dec 2019
Dan *******
@Andy *******
thanks thats good to know 👍
Cliff *********
If one branch gives you BS just go to another one.

They all make their own rules.

Definitely go with a Thai person to help translate and negotiate.

Bank staff speak no English.
Cliff *********
Getting a bank account

Don’t expect to get something for nothing. Each office is an independent business. Each office makes their own criteria.

You certainly will pay a fee for transferring USD from USA to Thailand. The amount depends on the bank and the transfer service.

Banking is an essential service if you plan to spend time here. It’s not FREE.

I prepared ahead of time by getting a bank account set up 6 months ago.

I treated this as an important business transaction, not just a casual activity.

My Thai friend made an appointment for me at the Bangkok Bank branch across from Astra in CM. He also translated for me.

I am a middle aged physician and dressed as such. Yes I did do the whole business card ceremony.

I told the banker that I plan to retire soon and buy a condominium at Astra.

I was asked to purchase a life insurance policy for about $100. Presumably the banker gets a commission. Whatever, it’s the price of doing business at the bank.

They wanted to copy my passport and see my credit card from Wells Fargo. I think I showed them how much was in my account also to make the point that I’m a serious customer.

I also showed them $500 in perfect $100 bills that was to be the initial deposit.

Nothing else was required.

Act like a serious customer and you will be treated as such.

Present yourself properly and you should be fine.

If not, thank them for their time and visit another office.

Best wishes on your adventure to Thailand!
James ***************
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Dan ********
Use these guys,they opened a bank account and got me a drivers license in two days on a visa exempt entry…I didn’t have to do anything at all,they sorted it all out for me,quick,efficient and very reasonable cost…highly recommended. Retirement Visa – Chiang Mai

Retirement Visa – Chiang Mai

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Dan *******
@Dan *******
How much did they charge?
Gordon ********
A bit tougher if us passport.

They have more paperwork
Mark *********
Contact Rhys at Assist Thai Visa and they will help you negotiate all the steps you need to take.
Ally ************
I have been on the same bank account 'journey' myself.. only Bangkok bank would consider letting me open an account.. every other bank told me that only B/bank could now open accounts for foreigners.. and in the absence of a LTV they wanted a letter from Immigration granting permission.. also had to wait 4-weeks for this letter.. and upon finally presenting it to B/bank was also told about this 30-day rule (unexpired days) which prevented me from opening an account.. so i went to a different much larger branch since i was told their management had more discretion.. and didn't mention my earlier interactions.. they opened the account no problem with a modest deposit.. but i then transferred my visa fund into the account in front of them and got them to update the book.. so they could see i was genuine about my purpose.. but it was definitely a right old rigmarole!
Chan ******
@Ally ***********
May I know how you can transfer money on the same day from your home country? For doing Remittance, it normal needs 2 to 3 days. Thank you.
Russell *******
I opened a Bangkok bank account in Chiang rai with a residency certificate from immigration. If it's and help I can find the address of the bank .
Jae *******
Try other banks until one cooperates.

One Bangkok bank branch wanted me to jump through impossible hoops, whereas a small Kasikorn branch had me set up within minutes, no problem at all.
Nick ************
I went to the same branch of Bangkok Bank 4 times. First time I was told I needed a work permit. I showed retirement visa and they didn't understand. Two more times refused fir various reasons. 4th time they had no idea what my visa extension stamp looked like and mistook my re entry permit which was used. They made several phone calls then trued to sell me insurance. I said no and finally I got a bank account to my surprise.

Just keep going and sooner or later you will get it. A wad of 10 1000 baht notes might help but I opened with 500 baht! Good luck.
Nick ************
Could I add that if regular transfers are required for Visa purposes then Bangkok Bank is the one to go for?
Graham *******
I can only tell u how i did it! I arrived with tourist visa, I got my mt30, went to immigration with a signed contract to buy a condo! Asked for permission to open a bank account, job done! You need a reason to open a bank account!
Todd *********
Chan ******
@Todd ********
I have asked, they said they do not do it for HK passport holder. So sad.
Todd *********
@Chan *****
interesting!! Did not know that…
Anthony *********
Think the banks just make it up as they go along to be honest because as far as I know you actually don't need anything to just open a bank account according to comments I have seen in some visa groups. You really just need to keep hitting different bank branches and asking until you find one that will open one for you ✌️
Alistair **********
@Anthony ********
on a tourist visa or visa exemption it's not easy anymore. There are requirements and it's pretty much only Bangkok bank that will let you open an account these days.
Anthony *********
@Alistair *********
yeah I get that, as everything is becoming much more difficult to get these days and new requirements for things seem to keep getting added on, its becoming quite a pain to stay completely legal without having to cut corners or use an agent.

To be honest if it wasn't for my wife and kids id have probably have left for either Cambodia, Vietnam or the Philippines by now where it's a lot more simple and less stressful
Peter *********
Use an agent open bank account easy then no worries for your future plans 😉
Wayne *****
Use an agent.
Brandon ************
You only went to one bank? Go to another. Then another. Then another. And another. Keep going to banks until one will open an account for you. Each bank makes their own policies in addition to the corporate policies so even different branches of the same bank will have different policies. If you're planning on moving to Thailand you'll need to get used to doing things the hard way and very inefficiently.
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