Opening a Thai Bank Account- New Policy?

[bluweyze]

I have been organising the opening of bank accounts in Thailand for clients at the rate of about one per month for the last couple of years. Today I hit my first snag. The bank says that from September 1st Non-Thais can only open a bank account with a letter from their embassy. ( I hate to think what the British Embassy will charge for this) Has anyone heard of this before? As immigration require 800,000 Baht  in the bank to obtain the 3 month non O visa, then the retirement visa  this makes things increasingly complex.I suppose we must adapt. 

[beachproperty]

Yes....adapt...OR try another bank

[inThailand]

Yup, just a passport.

Try another branch or different bank.

[elliss]

Tightening up on CCs , money laundering .555

[bkkcanuck8]

Bluweyze, What do they want the Embassy letter to say?  Passport is authentic?  You are not on the most wanted list?

 

Every Bank, every branch within a branch (which changes as managers change) has different policies.... or for branches that don't deal with foreigners... it could just be ... no cannot do for reasons of x...  because it might mean I have to know or learn something (or potentially do something wrong and lose face)...

[bobonzo]

Bangkok Bank asked for a certification of residence attested by the embassy, in my case the US Embassy. They have a template on their website. I filled it in, got it notarized and hey presto opened an account. I did try various other banks and was asked for at least the same or more (work permit).

 

Pretty painless really.

[trainman34014]

A Yellow Book should cover it for resident Farangs.

[Thaidream]

You don't need a yellow book or work permit or anything other than either a proof of address or a Thai guarantor. Any bank branch that makes it difficult- simply move to another branch or call the bank's head office while  in the branch and tell them what is happening- normally the head office will tell the manager at the branch to make it happen.

[elektrified]

Just curious, are your clients mostly Americans?

[TallGuyJohninBKK]

The unfortunate part here is, Thai law/Bank of Thailand regulations seem to provide very little practical guidance on this point.

 

As a result, the various Thai banks all tend to have different/differing rules on what they'll require to allow foreigners to open bank accounts.

 

Some make it relatively easy, like Bangkok Bank where they have a website that specifically lists what kinds of documents they'll require depending on what kind of entry status/stamp/visa you have. Most don't seem to have any public listing of their requirements. But for example, TMB Bank seems pretty consistent in that they won't open a bank account for a non-Thai without a work permit, period. There's also the aggravation that a lot of bank branches/staffs simply don't know or don't care, and will answer no just to get you out of their hair.

 

In general, in my and others experience, Bangkok Bank and Krungsri (Ayudhya) Bank seem to be generally the most receptive to foreigners opening new accounts. CIMB also can be OK, though when I opened a new account with them recently, they only wanted 4 things: my passport, a 2nd photo ID like a driver's license, a utility bill or something similar to verify my address, and a Thai sponsor such as my Thai wife, who had to give them a copy of her ID card for me to get an account solely in my name.

 

PS - For the OP, I opened my CIMB account on Sept. 1 and a second account with them a week later, and there was no silly business about Embassy letters (though in past cases, I know the banks can look upon the Embassy letter as a kind of sponsor/letter of recommendation. But usually, in those cases, they'll also accept other supporting documents instead.

 

Edited September 12, 2017 by TallGuyJohninBKK

[SOUTHERNSTAR]

Open a K bank account in Lom Sak, Phetchabun with only a passport. I have other K bank accounts but due to us moving I opened a new account. 

[accord25]

When I go my Bangkok bank account back in April I needed to grt my passport certificate before i could open an account. And with that they still won't let me have internet banking with out a work permit. 

[Johnboxer]

I have tried many banks to open a account for my Chinese girlfriend , but they all say she must have a 12 month visa, any suggestions?

[pby92]

At KrungThai Bank they close my account during my last stay as i not have work permit or non OA retirement visa.

They say it's the new policy.

I must show to the branch as I cannot withdraw the money I have on my account in any ATM cost me plane ticket .Bangkok Nakhon Si Thammarat and more.

As my plan was to visit Philippines I came from Paris to Bangkok plan to withdraw my money in ATM at Swampy and flight Cebu .

My on line Banking was also unavailable even if it was 10 days before.

Was not very happy.

[Guest Jerry787]

different banks differents rules, small town branches oir big tourist places branches more relax and easy

[TallGuyJohninBKK]

1 hour ago, accord25 said:

When I go my Bangkok bank account back in April I needed to grt my passport certificate before i could open an account. And with that they still won't let me have internet banking with out a work permit. 

 

Lots of BKKB expat customers have online banking with them -- without having a work permit.

 

But I believe they sometimes tend to restrict online banking to those with longer stay entry status, like year-long, as opposed to tourist visa or visa-exempt entry. But I also think their handling of this may vary widely branch to branch.

[Searat7]

26 minutes ago, TallGuyJohninBKK said:

 

Lots of BKKB expat customers have online banking with them -- without having a work permit.

 

But I believe they sometimes tend to restrict online banking to those with longer stay entry status, like year-long, as opposed to tourist visa or visa-exempt entry. But I also think their handling of this may vary widely branch to branch.

This happened to me a few years ago at BB  but they let me submit application for Internet Banking anyway...at the bottom I wrote note that I would take my business else if I was not approved......3 days later I had Internet Banking and I don't work here.

[TallGuyJohninBKK]

I can't remember about this for certain, so maybe someone else can recall better:

 

But I have a recollection -- BKK Bank and perhaps the others have two classes of accounts, that I think they refer to as RESIDENT or NON-RESIDENT accounts. For example, IIRC, you need an account they mark as RESIDENT in order to get interest earnings.

 

And it all comes down to how the account rep who opens your account classes it at the outset -- as RESIDENT or NON-RESIDENT.

 

It MAY be that their classification of an account as RESIDENT or NON-RESIDENT has some bearing on whether they consider the account eligible for the added service of online banking.

 

[BKK1969]

My personal experience is that it depends on the branch. I have three accounts at two different banks and at two branches.
Two of them are joint accounts with my wife with whom I've been in mostly matrimonial bliss for 28 years. One is for the O visa requirements which I opened about five years ago by just showing a passport.
Last week my personal ATM card needed renewing, the lovely lass at the bank wanted my old passport instead of updating the record on her PC.
Wifey was shopping so I just walked off knowing Thais can fix this best without old white men farang around.
Works everytime as long as I shut up.
Only took me 27 years to figure it out.
Basically, get a good Thai wife and if at first you don't succeed give up and go home.



Sent from my iPhone using Thaivisa Connect

[Dan5]

10 hours ago, tomster said:

They seem to make it up as they go along. If you can't speak Thai and you ask in a branch where nobody speaks English, they often say you need X, Y and Z.

 

If you go into a branch where there are half decent English speaking staff, you can normally do it with just your passport.

 

Or that thas been my experience with BKK and SCB, anyway.

I don't know that speaking English at the branch makes much difference. You could got to one branch of a bank and get turned down and then go down the street to another branch of the same bank and get the account no problem. And also if you get turned down, you can ask to speak to the manager. I did that a few years ago at SCB. The person in front turned me down since I didn't have a work permit, but I talked to the manager and got the account. And it's been like this for many years. It's nothing new.

[cyberfarang]

2 hours ago, BKK1969 said:

My personal experience is that it depends on the branch. I have three accounts at two different banks and at two branches.
Two of them are joint accounts with my wife with whom I've been in mostly matrimonial bliss for 28 years. One is for the O visa requirements which I opened about five years ago by just showing a passport.
Last week my personal ATM card needed renewing, the lovely lass at the bank wanted my old passport instead of updating the record on her PC.
Wifey was shopping so I just walked off knowing Thais can fix this best without old white men farang around.
Works everytime as long as I shut up.
Only took me 27 years to figure it out.
Basically, get a good Thai wife and if at first you don't succeed give up and go home.



Sent from my iPhone using Thaivisa Connect

Farlangs who open bank accounts jointly with Thai wives will not have any problems opening bank accounts in Thailand. Usually all the Farlang has to show is a valid passport with a valid visa. After a few years once the bank staff get to know you they will drop their guard and let the Farlang open a bank account in that branch in his name only. 

 

But opening a Thai bank account singly is another story and it`s becoming tougher. As some posters have mentioned, all you can do is try different banks and different branches and hope for the best.

[manarak]

10 minutes ago, cyberfarang said:

Farlangs who open bank accounts jointly with Thai wives will not have any problems opening bank accounts in Thailand. Usually all the Farlang has to show is a valid passport with a valid visa. After a few years once the bank staff get to know you they will drop their guard and let the Farlang open a bank account in that branch in his name only. 

 

But opening a Thai bank account singly is another story and it`s becoming tougher. As some posters have mentioned, all you can do is try different banks and different branches and hope for the best.

is the procedure the same for furlongs ?

[khunPer]

3 hours ago, TallGuyJohninBKK said:

 

Lots of BKKB expat customers have online banking with them -- without having a work permit.

 

But I believe they sometimes tend to restrict online banking to those with longer stay entry status, like year-long, as opposed to tourist visa or visa-exempt entry. But I also think their handling of this may vary widely branch to branch.

The manager in my BKKB said, that only residents can have online banking; i.e. work permit, or other proof of residence, like Yellow House Book (or perhaps letter from Immigration?).

 

SCBEasy online banking, however opens just you have an account and some correct data to key in, to prove your identity.

 

In general, the government has tightened the rules during the last year or so, but the various banks may interpret the rules differently, even down to branches of the same bank...

[Bigstef]

6 hours ago, pby92 said:

At KrungThai Bank they close my account during my last stay as i not have work permit or non OA retirement visa.

They say it's the new policy.

I must show to the branch as I cannot withdraw the money I have on my account in any ATM cost me plane ticket .Bangkok Nakhon Si Thammarat and more.

As my plan was to visit Philippines I came from Paris to Bangkok plan to withdraw my money in ATM at Swampy and flight Cebu .

My on line Banking was also unavailable even if it was 10 days before.

Was not very happy.

How long did you have your account at the bank? Me i have 2 accounts one in Kasikorn for the visa O money and one in Bangkok bank for my everyday use, both since 2011 i wonder if its the bank new policy or the government ? Undestand you're not happy amazing Thaialand

 

[Inquisitorial]

Opened a new account yesterday at kk bank in Bangkok. We wanted new account in single name for retirement visa.  Initially they told us that without the retirement visa stamp in passport or work permit they would not open new account New Head Office rule.  I asked how do we get retirement visa without having 800k in bank account? Just told new rule.

 

We already had joint account with another branch of KK bank.

 

eventually got them to open account after proving we owned a condo.

 

they filled in all paperwork and then said they needed HO approval which took about 20 min to occur 

[inThailand]

As usual nothing has legally changed. Its just the bank employees are mostly clueless when comes to dealing with falangs.

[Billy Bloggs]

I may have more to say on this as I will be moving from Chiang Mai to Lam Plai Mat, but my original joint account on a tourist visa was opened with no problems(this was 2 years ago) and had internet banking attached(Kad Suan Kaew branch of BKKBank) then a single account account for the Non O money again no problem. I will be asking today or tomorrow what is the procedure when transferring money to a new account in Lam Plai Mat, hopefully this will make opening a new account there simple as well.

[Nurseynutcase]

I have an account with BKK in baht.  To open a sterling account I just need copy of my passport and a signed statement from immigration to allow me to open the account.  This is in Phuket where they require;

1 photograph

copy of ID page of passport

copy of proof of residency

copy of visa

 

and just for good measure I have included TM 6 and last entry stamp.

 

BTW when I tried to open a baht account with SCB they would not accept me.  The following day at BKK no problem!!!

[MyFriend You]

Strange, I went to the SCB Branch in Pattaya Central Festival, wanted to transfer my account from SCB Bangkok (which I have had for over 15 years) they wanted a one year Visa, work permit or Letter from my Embassy.  Went to the SCB Branch in Jomtien, they only wanted a copy of my bank book and passport w/Visa page.

Edited September 13, 2017 by TunnelRat69

[MyFriend You]

15 hours ago, BKK1969 said:

My personal experience is that it depends on the branch. I have three accounts at two different banks and at two branches.
Two of them are joint accounts with my wife with whom I've been in mostly matrimonial bliss for 28 years. One is for the O visa requirements which I opened about five years ago by just showing a passport.
Last week my personal ATM card needed renewing, the lovely lass at the bank wanted my old passport instead of updating the record on her PC.
Wifey was shopping so I just walked off knowing Thais can fix this best without old white men farang around.
Works everytime as long as I shut up.
Only took me 27 years to figure it out.
Basically, get a good Thai wife and if at first you don't succeed give up and go home.



Sent from my iPhone using Thaivisa Connect

Or, like me, learn to speak rudimentary Thai and dazzle them with your BS, they always get a laugh out of that.

Edited September 13, 2017 by TunnelRat69