Bank Account Catch 22

[DrJack54]

The reason the letter thing didn't make sense is because its nonsense

[Mavideol]

3 hours ago, bkk6060 said:

I have done a lot of research on this.  It use to be much easier.

I love the stories from some that say they were here on holiday on a Visa exempt and walked right in and got an account.  This is not true.

Do not believe what a banks website says because as some have stated, each bank manager may have a different policy.

Generally:

90% of them are asking for a work permit now.

Cert. of Residence.

6 to one year lease agreement copy.

Long stay Visa.

And some other documents may be required.

Maybe some will give and take on this.  But, walking in with a "Tourist Visa" only no way.

 

 

it confuses me why the bank asks for a work permit if one is looking for retirement visa...

[moontang]

2 minutes ago, Mavideol said:

it confuses me why the bank asks for a work permit if one is looking for retirement visa...

Yep, I was trying to move my yellow account from CM to Nonthaburi.  Security guy handing out queue numbers blurts out, you must have WP.  I pulled out my book and said I already had an account...then spent an hour filling out the forms, and was given a new book.  Five months later, I went in a closer branch to get my letter regarding my 800k....fine, and then I deposited a 1000...you must pay 30 THB, because your account is in CM...so all of that, and they didn't do what they said...and I even had Chinote and old tambien baan.  She thought I was pissed about the 30 THB..yeah, only because the first thing I did when I moved here was spend a few hours changing my account so I didn't have to pay to deposit money!  It seems like most of the denials started with the new pile of paperwork required by the US, starting a few years ago.  They are lazy, and the easiest thing is for them to say cannot.  I may actually visit Krungsri HQ to tell them why I know longer bank with them.  And absolutely no apologies from the lady charging the thirty THB.  But, she offered to open the new accounts for me...

[jackdd]

43 minutes ago, 4raiKohChang said:

I went to the bank with my x-wife (Thai) and my daughter (half-thai).

From my experience it's usually a bad idea to take a woman (applies to probably 99% of Thai women, there might be a few exceptions) with you to handle "business matters", go alone or take a Thai guy with you imho this increases your chances. Of course there is a big number of branches which just say "foreigner needs a work permit", or another document, and there is no way to change it, so you have to find the ones that are a bit more flexible.

 

43 minutes ago, 4raiKohChang said:

After reading the advice here, I am not sure I can meet the requirements.  I do not have or want a lease in Thailand. 

Just let your ex wife write a lease for you, it doesn't have to be real. When i opened my bank account they told me that i needed to show a 6 months lease, i only had a monthly lease back then, i told my landlord about this and he simply printed me a lease which said 6 months so that i could give it to the bank and they let me open the account without checking anything regarding the lease.

 

20 minutes ago, Mavideol said:

it confuses me why the bank asks for a work permit if one is looking for retirement visa...

Because somebody once told them "foreigner must have a work permit to open a bank account" and it does probably have to do something with that they don't want to open a bank account for somebody who then never uses it or doesn't put any money on it, if you have a work permit you obviously have an income and there is a good chance that you will regularly use the account

Edited December 22, 2018 by jackdd

[WinterGael]

If in Bangkok, try the Bangkok Bank abdulrahim building. I have a tourist account there. Use my wife's address and had letter of proof of identity/passport/residence from embassy. Took 30 minutes. 

[bbi1]

8 hours ago, stud858 said:

Go to krungsri bank (yellow bank). Tell them you need a bank account to transfer several million baht because you want to buy a property in the coming weeks.

 

Let us know how you go.

 

If money is going to go in and then quickly out of a bank account, how exactly does the bank benefit from this? They only benefit if the money stays in the account untouched.

[bkk6060]

18 minutes ago, Mavideol said:

it confuses me why the bank asks for a work permit if one is looking for retirement visa...

It has nothing to do with what a person wants but what the bank wants.

I get what you are saying but they want some proof of stability here.

Too much illegal activity has occurred over the years with Thai bank accounts, so I guess it is their way of trying to tighten things up.

[bbi1]

6 hours ago, overherebc said:

Been done by many people prior to getting a retirement extension.

The past is the past. In the past Kbank would open bank accounts to people on a tourist or ED visa. Now they won't, even if you are a current K-bank account holder! Krungsri will, but they require you to have 6 month's statements printed out from another Thai bank.

 

So if you don't have a Thai bank account now, it's impossible to get another Thai bank account with any other bank.

[bbi1]

5 hours ago, Enki said:

Most banks describe on their web site what you need. Unfortunately many banks have strange rules, e.g. requiring a work permit or a statement of residency.

I made good experiences with Bangkok Bank, as they have no such rules. However my bank _branch_ wanted me to have passport copies validated/certified by the german consul in Chiang Mai (or from the German Embassy in BKK).

 

Rubbish! At least since a month ago. Bangkok Bank wants exactly that or something else very silly. When they told me they couldn't open on my tourist visa and then listed a whole bunch of things needed to open it I stopped listening to all the things they mentioned.

[Just Weird]

1 hour ago, owl sees all said:

Perhaps I need to clarify.

 

When I first came to Thailand I opened an account with Bangkok Bank after two weeks. No agent; just me and a bar-girl.

 

I enlisted an agent to assist me with my 12 month retirement visa in November last. This particular agent deals with Kassikorn. I didn't have an account with them, so I opened one, to be able to show the 800k. There was no charge from the bank or agent for this.

"There was no charge from the bank or agent for this".

 

Of course the agent didn't charge you for arranging the account, it was already included in the price you paid for fudging your visa!

[moontang]

30 minutes ago, bbi1 said:

If money is going to go in and then quickly out of a bank account, how exactly does the bank benefit from this? They only benefit if the money stays in the account untouched.

They make 500 THB for receiving the wire, plus profit on the currency exchange.  In a rational world, it would also make business sense to form relationships, with people who actually have money.

[Stocky]

I have a friend, in his 60s who's thinking of retiring here, who successfully opened an account with Krungsri Bank, the Emquartier Branch in Bangkok, on 29th November this year. I suggested he try there based on recommendations made in the Banking & Finance forum. He was in the country on a visa waiver, the only requirement beyond a copy of his passport, was an address in Thailand, and he was able to use mine in Hat Yai; I'm a Krungsri account holder.

[owl sees all]

40 minutes ago, Just Weird said:

"Of course the agent didn't charge you for arranging the account, it was already included in the price you paid for fudging your visa!"

 

Now that I have the account, I will keep it active just for the visas. Just put in enough during the 12 months to pay for the visa lady next year. Easy peasy. Anyone can do.

 

There is simply no problem for people to open a bank account here. Just smile at the lady and tell her she is lovely. Or get assistance from a person in the know.

Edited December 22, 2018 by owl sees all

[owl sees all]

1 hour ago, bbi1 said:

Rubbish! At least since a month ago. Bangkok Bank wants exactly that or something else very silly. When they told me they couldn't open on my tourist visa and then listed a whole bunch of things needed to open it I stopped listening to all the things they mentioned.

Don't give up 'bro.

 

Things will work out fine. Just find a bank where the lady manager has had personal experiences with a farang, (good ones) and you have cracked it.

 

Don't be put off by the tiller girl saying "no no" or "cannot". Ask to see the manager and she will be only too pleased to reinforce her standing.

Edited December 22, 2018 by owl sees all

[9653]

7 hours ago, ChristianBlessing said:

It has been recommended in the past, and worked for me on my first try, to visit the bank with a Thai account holder. I went on a visa-exempt stamp, a certificate of residency (issued by my consulate) and a copy of my lease agreement. The demeanor of the Bangkok Bank staff could not have been more pleasant.

Same here, Thai account holder could make the bank staff comfortable but if not, next bank!

[how241]

Bangkok bank has said NO to a friend but after taking with the staff it became YES,  if he bought insurance(5,000 bt). Someone about needing a Thai person to vouch for you.

[Jenevis]

Registered an account here just to reply to this question.

 

Noticed how just about everyone's experience opening a bank account as a tourist are all from a few years ago? What was possible yesterday may not work today. I know, I tried it. Went to about 15 banks trying.

 

So, I finally was able to open my bank account less than TWO WEEKS (10th Dec 2018) ago as a tourist.

 

Go to UOB Bank at Gateway complex, at the Ekamai BTS station. You need your passport and 50k baht to open it. You can withdraw up to 49.5k baht the next day. 500 baht needs to remain in the account at all times to keep it alive.

 

Didn't have a Thai friend with me, didn't have a letter from my embassy or what not. Just went in and asked if I could open an account as a tourist. They said yes, need 50k baht, I signed on the dotted line.

 

Problem solved. Have fun.

Edited December 22, 2018 by Jenevis

[JackThompson]

12 hours ago, Enki said:

Most banks describe on their web site what you need. Unfortunately many banks have strange rules, e.g. requiring a work permit or a statement of residency.

I made good experiences with Bangkok Bank, as they have no such rules.

Some BKB branches do have a residency letter rule.  I had to go across town to the branch I used to open my first BKB account, in order to open a second BKB account, because the branch close to my then-condo would not do it.

[Robins]

Are you American?  I ask because the FATCA legislation passed a few years back imposed ridiculous reporting requirements on foreign banks that deal with Americans.  Many responded by refusing American clients. 

Some banks have decided to comply and will accept Americans now. I opened an account with Krung Thai Bank with no problem when this nightmare started 2 months ago.

 

Google FATCA for mire information, it's so absurd as to deny belief.

Edited December 22, 2018 by Robins
typo

[bkk6060]

17 minutes ago, Robins said:

Are you American?  I ask because the FATCA legislation passed a few years back imposed ridiculous reporting requirements on foreign banks that deal with Americans.  Many responded by refusing American clients. 

Some banks have decided to comply and will accept Americans now. I opened an account with Krung Thai Bank with no problem when this nightmare started 2 months ago.

 

Google FATCA for mire information, it's so absurd as to deny belief.

Why?  Because they do not want a bunch of criminals laundering money or involved in illegal activity?

 

If one is honest and not trying to hide something, then there should be no problem.

[jacko45k]

3 minutes ago, bkk6060 said:

If one is honest and not trying to hide something, then there should be no problem.

You live in Thailand and believe that is how things work here?

[JackThompson]

2 hours ago, bkk6060 said:

Why?  Because they do not want a bunch of criminals laundering money or involved in illegal activity?

 

If one is honest and not trying to hide something, then there should be no problem.

FACTA is more about checking on American's foreign-money to look for income to tax. 

The USA, China, and North Korea tax their citizens overseas-incomes - even when non-resident and not receiving any income from their passport-country.

Edited December 23, 2018 by JackThompson

[Andrew Dwyer]

FACTA is more about checking on American's foreign-money to look for income to tax. 
The USA, China, and North Korea tax their citizens overseas-incomes - even when non-resident and not receiving any income from their passport-country.

Ouch , that’s gonna hurt !!

That would explain a bunch of papers re: US tax that they gave me when opening an account !

[marcusarelus]

3 hours ago, Robins said:

Are you American?  I ask because the FATCA legislation passed a few years back imposed ridiculous reporting requirements on foreign banks that deal with Americans.  Many responded by refusing American clients. 

Some banks have decided to comply and will accept Americans now. I opened an account with Krung Thai Bank with no problem when this nightmare started 2 months ago.

 

Google FATCA for mire information, it's so absurd as to deny belief.

What bank refused American accounts in Thailand?  I have three different accounts from 3 Thai banks no problem.  I don't believe you.

[sandyf]

21 hours ago, 4raiKohChang said:

 

OP here.  I actually went one better.  I went to the bank with my x-wife (Thai) and my daughter (half-thai).  It was on Koh Chang where they live.  They are business people on the island and I was dressed well enough.  They flatly refused to open an account for me.  Told me I needed a 'permission letter' to open an account from the Thai Embassy in my country.  That did not make sense then and does not make sense now.  After reading the advice here, I am not sure I can meet the requirements.  I do not have or want a lease in Thailand.  I will be living on my Thai families land, doing some basic farming and enjoying a simple life.  It might just be easier to remarry my x-wife as we get along fine now we have aged.  I'm half joking here, but if the banks don't play ball it might be a better option for me.

Koh Chang banks may have had a problem with tourists in the past and brought in additional rules. Bit of a pain but I would suggest you try somewhere on the mainland. Once you have established an account, it shouldn't be a problem getting another account on Koh Chang if necessary.

You would have been better advised to have come to Thailand on a Non O visa which could have been done on the basis of your daughter. Some banks look for a long term stay and a multi Non O can meet the requirement, that is what got me my online banking.

[sandyf]

3 hours ago, Robins said:

Are you American?  I ask because the FATCA legislation passed a few years back imposed ridiculous reporting requirements on foreign banks that deal with Americans.  Many responded by refusing American clients. 

Some banks have decided to comply and will accept Americans now. I opened an account with Krung Thai Bank with no problem when this nightmare started 2 months ago.

 

Google FATCA for mire information, it's so absurd as to deny belief.

From the OP

 

I have enclosed the information from the Embassy here in the UK.

 

BTW failing to read the original post correctly has resulted in several unnecessary and off topic comments regarding US legislation.

Edited December 23, 2018 by sandyf

[onera1961]

People will say all kind of things. Walk 50 blocks to find a bank, go to any bank, they will open an account, "i opened my account in such and such place. so easy" All BS. I think one of the sure fire way to open an account with a tourist visa is to go to Bangkok Bank and show them their published article in their web site. Go to a big branch (not those express banking branches in malls). They would ask you to get a letter from your embassy. If your friend has a work permit or if you know some Thai with a job (not a bar girl job), take them (instead of embassy letter), it will be easy to open. 

[Enki]

22 hours ago, bbi1 said:

Rubbish! At least since a month ago. Bangkok Bank wants exactly that or something else very silly. When they told me they couldn't open on my tourist visa and then listed a whole bunch of things needed to open it I stopped listening to all the things they mentioned.

The BKK Bank web site seems unchanged to me. An no idea what you call "rubbish". I simply stated my experience. I obviously don't know what BKK Bank is doing at the moment. Or what a certain branch is doing.

As many others already pointed out: if you can not convince the "branch" you are in at the moment, go to the branch next street.

And: as we are here in The Land of Smile,  perhaps you want to work on your language.

[bkk6060]

6 hours ago, jacko45k said:

You live in Thailand and believe that is how things work here?

No, which is exactly my point.

[bkk6060]

4 hours ago, JackThompson said:

FACTA is more about checking on American's foreign-money to look for income to tax. 

The USA, China, and North Korea tax their citizens overseas-incomes - even when non-resident and not receiving any income from their passport-country.

Right and there is a criminal investigation unit attached to it as some criminals hide or launder money in off shore accounts.