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

Question

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.

Ask Thailand · Answer

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.

Michael ******** · Answer

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.

Maxi ****** · Answer

What does HNWIs stand for?

Angelo *********** · Answer

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.

Anita ******** · Answer

HNWI?

Kai ********* · Answer

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

Jonas ************* · Answer

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

Dominic ****** · Answer

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. :)

Michael ******** · Answer

Need to multiple branches too. Some branches are stricter

Jim *********** · Answer

No brainer use agent or buy insurance open account.   End result is have a thai bank account     👍

Alex ******* · Answer

Use an agency and it’s no problem.

Aditya ******* · Answer

very .

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

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