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What visa do you need to open a bank account in Thailand as a tourist?
ThailandVisa regulationsBank accountRetirement visaImmigrationExpat adviceFinancial regulationsTax rules
Aug 6, 2024
2 years ago
Eddy *******
ORIGINAL POSTERHi. I need to open a bank account in Thailand to fund the build I will shortly commence.
What visa do I need to take to the bank to open a current account ?
I will visit over the next few years as a tourist later applying for a retirement visa when I give up work.
Thanks.
What visa do I need to take to the bank to open a current account ?
I will visit over the next few years as a tourist later applying for a retirement visa when I give up work.
Thanks.
TLDR : Answer Summary
To open a bank account in Thailand as a tourist, having a Retirement Visa (for those aged 50+) simplifies the process significantly, but you can also open an account on a tourist visa or visa-exempt entry by using an agent. It is recommended to consult with agents familiar with current banking regulations, which have become more stringent. For personal applications, a Letter of Residency from Immigration may be necessary, along with certain documentation, including passport copies and photos. Be aware of the requirements for income tax compliance as well, to avoid issues with international fund transfers later.
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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Tim *********
If you don't want to use an agent, it is possible to do it on your own. Make sure the place you're staying has registered your stay with Immigration. You need a long term lease/contract to show it's a relatively permanent address. Take these to Immigration and ask for a Letter of Residency, which most banks require these days. You'll need photocopies of your passport bio page, entry stamp and visa. And 2x passport size photos. Then take that letter to a bank and say you want to open an account. I did this in Jomtien on Monday. It took all day!
Frangipani *******
@Tim ********
I also needed to supply a copy of last year’s Tax Return from Australia 🇦🇺. Bangkok Bank, Bophut, Koh Samui 2 weeks ago.Frangipani *******
@Tim ********
Each branch (within the same Bank) has different procedures. I guess it depends on how strict the bank manager is… Similarly, where I live, you can buy booze all day at 7 and Tops Daily. But not at Mini Big C where they adhere to the official hours. Btw, my agent charged me 1,000B.
Tim *********
@Frangipani ******
1,000 to open a bank account is a real bargain!Frangipani *******
@Tim ********
Yeah, I know…Reply to
Frangipani *******
Reply
Tim *********
@Frangipani ******
I can't imagine what they wanted that for!Frangipani *******
@Tim ********
The reason it’s so difficult to open bank accounts these days is due to AML legislation.Tim *********
@Frangipani ******
It seems so inconsistent though, Annie. If the AML legislation required you to show a tax return, why didn't it require me to show one? From many reports I've heard, if a foreigner turns up at a bank to open an account, the bank puts pressure on them to buy insurance as part of the deal, or turns them down. Their reticence to open an account is overcome by a little personal incentive, which is why agents charge 5,000. But if the foreigner goes to Immigration first, the bank understands they probably know the procedure from a government agency, and can't be blackmailed allegedly!Reply to
Tim *********
Reply
Us *****
Just pay an agent 5k in Pattaya to do it. Less headache.
Russell *******
Make sure you come aware of the process of overseas payments, or you may find you can't transfer back overseas , if you wish to.
Konrad ***********
@Russell ******
Your saying you can not wire money out of your Thai bank account internationally?Russell *******
@Konrad **********
From my understanding To be able to send funds back overseas, your incoming transfers must go through the FET process. If you do not comply with that
I think you will have problems transferring finds back out . This is the requirement for your account to show international payment
Personally, I think is were many get confused as they say, it's required by immigration
Konrad ***********
@Russell ******
Interesting.. had no idea.. this is a good tipReply to
Konrad ***********
Reply
Eddy *******
ORIGINAL POSTER@Russell ******
thank you.Reply to
Eddy *******
Reply
Robert *****
Eddy. Maybe a DTV visa where you can just leave 500,000 baht or equivalent in your home country’s bank.
Eddy *******
ORIGINAL POSTER@Robert ****
thanks I’ll check that out.Reply to
Eddy *******
Reply
Jim ********
No visa if you use an agent
Phil *******
Use an agent, I opened account I was there 30 day visa exempt
Mark *******
@Phil ******
how did they do it . I'm also interested in opening an account in Thailand I visit regularly and will retire there in a few years . I am 53 nowPhil *******
@Mark ******
I was in Pattaya and used tik tok services, but there are many agents that do samePhil *******
@Mark ******
they have contacts at bank, to bypass some of the bureaucracyMark *******
@Phil ******
Can you suggest any agent that will do that pleaseReply to
Mark *******
Reply
Pascal ********
Don't you have a Thai wife?
Eddy *******
ORIGINAL POSTER@Pascal *******
no.Reply to
Eddy *******
Reply
Eric **********
Talk with a couple of agents , go online to Thai visa information and immigration.
Graham ******
You don't have to be retired to get a "Retirement Visa", just aged 50+. Arriving with a Retirement Visa will make opening a bank account much easier.
Kim *********
@Graham *****
the Thai embassy in Denmark specifically says 50+ AND on a pension for a non-o based on retirement. However there has been wrong information from them previously.Eddy *******
ORIGINAL POSTER@Graham *****
I thought I needed a sum deposited in a Thai bank to obtain a Thai retirement visa ? I’m old enough. 58. Can’t deposit money to get the visa without a bank account. Challenges …..Angelo ***********
@Eddy ******
For the initial visa you do not need money or a Thai bank account. For the yearly extensions, you do.Regarding your original question, there are no visa requirements for opening a bank account.
It is just so that some banks or branches "invent" requirements, because they do not want to deal with foreigners.
So you have to walk around a bit and ask from branch to branch.
Steve *******
@Eddy ******
Apply for the non imm O visa in the UK using funds in your UK bank account. This visa makes opening a Thai bank account a much easier processGraham ******
@Eddy ******
You can get a Non-O (or OA) before you travel with funds in your country of residenceStuart *********
@Eddy ******
Welcome to the “catch-22” conundrum.Reply to
Stuart *********
Reply
Graham *******
Difficult these days to open a bank account, with the new visa classes has got even harder to understand. Most people use agents to get what they want. For the future remember that you will need to pay income tax in Thailand, new rules.
**************************************************************************************
*******
/FOREIGNERS_PAY_TAX2024.pdfEddy *******
ORIGINAL POSTER@Graham ******
thank you GrahamAndy ************
@Eddy ******
All bs mate. Just bring in savings already accumulated. No tax to payGraham *******
@Eddy ******
where are u building?Eddy *******
ORIGINAL POSTER@Graham ******
udon Thani. Well just outside. I have old friends there.Michael ********
@Eddy ******
buy building in Thailand book its really good.Building in Thailand group also another good group Residential Construction for Expats Thailand
Graham *******
@Eddy ******
ok, ask your friends about agents who live around there!Reply to
Graham *******
Reply
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