Why are DTV visa holders having trouble opening bank accounts in Thailand?

DTV Visa Thai Banking CRS Bank Account Opening Issues Thai Elite Visa High Net Worth Individuals (HNWI)Visa Regulations Expat Banking in Thailand

Nov 14, 2024

21 hours ago

Anonymous *************

ORIGINAL POSTER

We're now seeing a lot of people with DTV cannot open bank accounts. But many people don't know what's happening with thai banks.

Thailand banking has already joined CRS in 2023. CRS means common reporting system. That means banks here will need to report individuals to other countries banks and tax authorities. It's a thing which HNWIs don't like because of their privacy concerns. 

A Thai elite visa is also a kind of glorified tourist visa. DTV visa is also a tourist visa (banks here always say that). However, our DTV holders cannot open. But from the banks side, they have to do a lot of paperwork. That's why they don't like us, dtv holders. 

Although they already joined the CRS, they didn't clean up the mess first which is agents. Yes tourists can still open any bank accounts with the help of agents. So, think about yourself, money laundering cases etc. i won't explain further here.

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TLDR : Answer Summary

DTV visa holders in Thailand are facing difficulties opening bank accounts, primarily due to the banks' administrative challenges and the introduction of the Common Reporting System (CRS) in 2023. Despite the DTV visa being classified as a tourist visa, banks often require extensive paperwork, leading to frustrations for expatriates. Although agents can assist in this process, experiences vary depending on the bank and branch. Comments from the community suggest that persistence and flexibility in choosing different banks or branches can lead to successful account openings.

DTV VISA RESOURCES / SERVICES

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Michael ********

Complete BS. I had no issues opening my account up last year. However, you can’t just show up at the bank with your passport and expect them not to follow the law. You need to get the paper from immigration of your official Thai address for banks.

13 hours ago

Maxi ******

What does HNWIs stand for?

15 hours ago

Angelo ***********

There is no legal reason to prevent a foreigner, one what ever visa he is or no visa, to open a bank account here.

They simply do not like the paperwork. That is all.

So: try different branches, try different banks. Should not take more than a day to find one that opens an account for you: regardless of your visa status.

16 hours ago

Anita ********

HNWI?

16 hours ago

Kai *********

It’s possible to open account on DTV, it’s like always in Thailand: It depends on place and people.

18 hours ago

Jonas *************

Bangkok Bank, go to different branch. Ask for official rules, you can find them online. No visa needed.

20 hours ago

Dominic ******

Just to clarify for others who might not know:

The part where you say that "banks here always say that" the DTV is a tourist visa:

That is because it officially is a tourist visa. That's important to keep in mind.

Other than that, I'd agree with others here: just get an agent and you'll be fine. :)

20 hours ago

Angelo ***********

@Dominic *****

A DTV is not a tourist visa. It is a DTV. Very simple. There are only two tourist visa: Single Entry Tourist Visa, and Multiple Entry Tourist Visa. A DTV is neither.

As long as there is not the term "tourist" in a visa: it is not a tourist visa.

16 hours ago

Dominic ******

@Angelo **********

I thought so too. But someone here posted a link to the official website, that I cannot find right now, and it says it's the tourist visa. 👍

15 hours ago

Angelo ***********

@Dominic *****

No, it does not say that. Especially as a DTV basically falls into three groups:

a) remote work visa - definitely not a tourist visa

b) soft skills as in learning something - that is an education visa

c) visiting events - that could be a "tourist' visa

The official eVisa web sites do not classify a DTV or an LTR into anything. It is an DTV or an LTR and that is is.

Classifications are:

Non O - on various reasons

Non B - various types

Non ED - an education visa

I probably forgot one.

It is as

@Kes ****

said, it is up to the bank (branch).

And there is definitely no rule/law that prohibits banks to open a bank account. What ever visa you have or not have.

The problem is, that people come into a bank:

- with no appointment

- no friend who speaks Thai

- dressed like a tourist at the beach

- sweaty, unshaved

- refuse to put down the sunglasses

- not even able to say a simple "Sawasdee Khrap"

- and so on

And it is not the case, that in every bank/branch is someone who speaks good English.

If they are not good in English, they simply say: no, can not do.

So if you find one who can speak a little bit: you ask him which branch he suggests. Or you just walk from branch to branch.

FYI: I made my bank accounts on Visa Exempt!! No visa.

15 hours ago

Reply to

Angelo ***********

Kes *****

@Angelo **********

yes we get that, but if the banks see it as a tourist visa then to them it’s a tourist visa. What they see it as is what matters because arguing with them will be pointless.

16 hours ago

Dominic ******

@Kes ****

absolutely! It doesn't even matter what type of visa it is and what type of visa the bank accepts because the banks do have the final decision about who they want to give a bank account to or not. So it's completely pointless for us to argue with what makes sense or what doesn't make sense. You just have to accept what the bank is telling you. Any business has the option to refuse a customer if they want to.

15 hours ago

Reply to

Dominic ******

James ********

@Dominic *****

correct ✅

19 hours ago

Reply to

James ********

Michael ********

Need to multiple branches too. Some branches are stricter

21 hours ago