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Why are DTV visa holders having trouble opening bank accounts in Thailand?
DTV VisaThai BankingCRSBank Account Opening IssuesThai Elite VisaHigh Net Worth Individuals (HNWI)Visa RegulationsExpat Banking in Thailand
Nov 14, 2024
a year ago
Anonymous *************
ORIGINAL POSTERWe'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.
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.
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
- Take the basic DTV Qualification Test to see if you're eligible for the Destination Thailand Visa (DTV).
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the DTV 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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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.
Maxi ******
What does HNWIs stand for?
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.
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 ********
HNWI?
Kai *********
It’s possible to open account on DTV, it’s like always in Thailand: It depends on place and people.
Jonas *************
Bangkok Bank, go to different branch. Ask for official rules, you can find them online. No visa needed.
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. :)
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. :)
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.
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. 👍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.
Reply to
Angelo ***********
Reply
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.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.Reply to
Dominic ******
Reply
James ********
@Dominic *****
correct ✅Reply to
James ********
Reply
Michael ********
Need to multiple branches too. Some branches are stricter
Jim ***********
No brainer use agent or buy insurance open account. End result is have a thai bank account 👍
Kai *********
@Jim **********
Waste money or time. If you fine with paying 5-10k instead of just trying different branches it’s fine.Reply to
Kai *********
Reply
Alex *******
Use an agency and it’s no problem.
Aditya *******
very .
Reply to
Aditya *******
Reply
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