Is Bank account opening safe on tourist visa?

[Addi]

Hello Members

 

i want to know one thing firstly.

i am in Bangkok on tourist visa and it’s my second visit in Thailand I am looking for some business opportunities here. I came to know that I can have savings account with few banks here on tourist visa, it’s true?? And what if I open one saving account with Thai bank n keep some 100k THB as savings, it will be safe ?? I mean as in tourist me it’s safe to keep money in thai bank?? Please solve my query 

thanks in advance 

[scorecard]

No difference in terms of funds security regardless of visa.

 

However some Thai banks impose a 'non-activity' fee where there have been no transactions over a longer period of time, best to ask about this before you open an account.

 

Also, ask about automatic deduction of Thai personal tax on any interest earned.  

[scorecard]

I like the opening line:

 

• 'I want to know...'

 

Why have basic manners become so difficult to find...

 

TV is not a personal on demand service just for you OP, did nobody ever teach you how to start a conversation, like  'Can I please have some advice....'

 

 

Edited January 30, 2019 by scorecard

[dotpoom]

1 hour ago, scorecard said:

I like the opening line:

 

• 'I want to know...'

 

Why have basic manners become so difficult to find...

 

TV is not a personal on demand service just for you OP, did nobody ever teach you how to start a conversation, like  'Can I please have some advice....'

 

 

At last...A man after my own heart.

  I was at a Thai coffee shop the other day with my Ex and ordered two coffees at the counter on the way in ...(the way it's done in this particular shop) and moved toward a table ... A young staff member "barked" at me..."Pay Now!".

  I in turn asked him if he ever heard the word "garuna" (please)....and "kop kun krap" (thank you).

[Fairynuff]

1 hour ago, scorecard said:

I like the opening line:

 

• 'I want to know...'

 

Why have basic manners become so difficult to find...

 

TV is not a personal on demand service just for you OP, did nobody ever teach you how to start a conversation, like  'Can I please have some advice....'

 

 

It’s clear he’s not a native English speaker. Nothing to do with manners, everything to do with language skills. If it bothers you that much DM him and explain his terrible wrong doing

[Kerryd]

There should be no problem whatsoever.

 

I opened my first bank account with just a 30 Day Visa Exempt stamp in my passport. I've had large sums in assorted Savings and Fixed term accounts for years with no problems.

 

Note that if the account is dormant (no activity) for more than 5 years, they may close the account (they will try to contact you first).

 

I would advise opening a Savings account, depositing a small sum (1 or 2,000 baht) and getting the Wire Transfer information so that you can wire money to the account at a later date when it is beneficial to you. That way you don't have a large sum stuck there in the event you can't come back for some reason.

 

Note as well - do NOT try to open a "Chequing" (or "Current") account as most banks will not do so if you just have a Tourist Visa. Also, they won't give you a credit card or (in most cases) internet banking unless you have a "1 Year Visa" of some kind.

Ask to open a Savings account, make a small deposit, get the Wire Transfer info (they will usually have a slip of paper they write the SWIFT code and account number on) and go from there.

Also be very careful about investing in business opportunities here. VERY careful.

There are a lot of scam artists out there that love trying to separate you from your money and offering shares or partnerships in a business is just one way to do it. Used to read lots of stories of guys who came here once or twice and were offered part ownership in the bar they were partying in and after they handed over the money found out their "partner" didn't have any connection to the bar at all !

 

Or the ones about the guys who were duped into buying some crappy little "side soi" bar during the "high season" when the place was full of people that couldn't get seats in better bars and the books (accounting) looked awesome.

Then low season arrives and the customers disappear and even the "better bars" are having a hard time. Reality sinks in and then the "side-soi" bar owners have to close up shop, or try to hang on until the next "high season" and hope they can dump their crappy joint onto some other starry-eyed new tourist.

 

Or the guys who set up a business for their new "teerak" and after everything is paid for, find out that "teerak" is married and her real husband is now the owner of the new business.
 

There is a very good saying about doing business in Thailand:

 

"If you want to make a small fortune, start with a big one !"

(What that means is, if you have a large fortune and try to start a business in Thailand, you may still have a small fortune left by the time you realize that you've been screwed and are able to get out of whatever it was you got into.)

Be very careful and don't commit more than you can afford to lose. No one is going to have any sympathy for you if you get screwed out of your life savings because you gave it to some bar girl you meet a week earlier and thought it was "true love".

 

Edited January 31, 2019 by Kerryd

[scorecard]

10 minutes ago, Fairynuff said:

It’s clear he’s not a native English speaker. Nothing to do with manners, everything to do with language skills. If it bothers you that much DM him and explain his terrible wrong doing

I agree the language construction in the OP is not native speaker but it's nowhere near beginner.

[birdhead]

Kerryd's very well said. Thumbs up.

[scorecard]

27 minutes ago, Kerryd said:

There should be no problem whatsoever.

 

I opened my first bank account with just a 30 Day Visa Exempt stamp in my passport. I've had large sums in assorted Savings and Fixed term accounts for years with no problems.

 

Note that if the account is dormant (no activity) for more than 5 years, they may close the account (they will try to contact you first).

 

I would advise opening a Savings account, depositing a small sum (1 or 2,000 baht) and getting the Wire Transfer information so that you can wire money to the account at a later date when it is beneficial to you. That way you don't have a large sum stuck there in the event you can't come back for some reason.

 

Note as well - do NOT try to open a "Chequing" (or "Current") account as most banks will not do so if you just have a Tourist Visa. Also, they won't give you a credit card or (in most cases) internet banking unless you have a "1 Year Visa" of some kind.

Ask to open a Savings account, make a small deposit, get the Wire Transfer info (they will usually have a slip of paper they write the SWIFT code and account number on) and go from there.

Also be very careful about investing in business opportunities here. VERY careful.

There are a lot of scam artists out there that love trying to separate you from your money and offering shares or partnerships in a business is just one way to do it. Used to read lots of stories of guys who came here once or twice and were offered part ownership in the bar they were partying in and after they handed over the money found out their "partner" didn't have any connection to the bar at all !

 

Or the ones about the guys who were duped into buying some crappy little "side soi" bar during the "high season" when the place was full of people that couldn't get seats in better bars and the books (accounting) looked awesome.

Then low season arrives and the customers disappear and even the "better bars" are having a hard time. Reality sinks in and then the "side-soi" bar owners have to close up shop, or try to hang on until the next "high season" and hope they can dump their crappy joint onto some other starry-eyed new tourist.

 

Or the guys who set up a business for their new "teerak" and after everything is paid for, find out that "teerak" is married and her real husband is now the owner of the new business.
 

There is a very good saying about doing business in Thailand:

 

"If you want to make a small fortune, start with a big one !"

(What that means is, if you have a large fortune and try to start a business in Thailand, you may still have a small fortune left by the time you realize that you've been screwed and are able to get out of whatever it was you got into.)

Be very careful and don't commit more than you can afford to lose. No one is going to have any sympathy for you if you get screwed out of your life savings because you gave it to some bar girl you meet a week earlier and thought it was "true love".

 

And if you do get into some business ownership / employment be very careful of the Thai laws about Work Permits (WP), which apply to all non-Thai people. If caught working (even very simple work, even if your the owner) without a WP the penalties are serious. The Thai law on this subject totally bans foreigners working in a long list of occupations. In these occupations a WP is not available regardless of anything.

[MadMuhammad]

2 hours ago, dotpoom said:

At last...A man after my own heart.

  I was at a Thai coffee shop the other day with my Ex and ordered two coffees at the counter on the way in ...(the way it's done in this particular shop) and moved toward a table ... A young staff member "barked" at me..."Pay Now!".

  I in turn asked him if he ever heard the word "garuna" (please)....and "kop kun krap" (thank you).

I don’t think I’ve ever once heard or said ‘Garunaa’ in any sort of conversation here.

whole as a foreigner I would see the value  

I wonder in what situation it would be used by a native speaker

[MadMuhammad]

1 hour ago, scorecard said:

And if you do get into some business ownership / employment be very careful of the Thai laws about Work Permits (WP), which apply to all non-Thai people. If caught working (even very simple work, even if your the owner) without a WP the penalties are serious. The Thai law on this subject totally bans foreigners working in a long list of occupations. In these occupations a WP is not available regardless of anything.

50000thb seems to be the going rate if you are lucky enough to get caught by an ‘understanding’ officer. 

The official route would not be something I’d like to experience 

[bkk6060]

2 hours ago, Kerryd said:

There should be no problem whatsoever.

 

I opened my first bank account with just a 30 Day Visa Exempt stamp in my passport.

 

  

 

False info. presently you are way behind the times.

Good luck to anyone who "presently" thinks they can open an account with a visa exempt or tourist Visa only.

 

[Farangwithaplan]

2 hours ago, Kerryd said:

(What that means is, if you have a large fortune and try to start a business in Thailand, you may still have a small fortune left by the time you realize that you've been screwed and are able to get out of whatever it was you got into.)

 

 

There are plenty of opportunities for business in Thailand and many can be fruitful. Although with the Thai baht as strong as it is, export businesses are possibly not as good as they could be.

 

I never understand why when people talk business opportunities, they think about terrible hole in the wall soi bars as the first option. Your first example of a person 'buying' a share in a bar shows just how stupid some people are if in fact that has ever happened and isn't just some urban myth.

 

The dodgy bar scene in Thailand is such a small aspect of this country but seems to often get intertwined in so many posts on this forum. It is suprising.

 

To the OP, go to a bank with cash and documentation and speak with the manager. Be friendly and courteous and try to strike up a rapport. Then ask what you need to do to obtain a bank account as you may be doing business. You may need to try this at several banks. Dress like you want to start a business.

 

I've never tried with a tourist visa but you never know your luck in a big city until you try.

Edited January 31, 2019 by Farangwithaplan
added

[BigT73]

Most banks have the requirements online about opening account as a foriegner.  Its handy to know your entitlements before going into a bank as staff can make stuff up on whether you can open a acct or not. 

Using the website info has helped me open accts as I have pointed out rules to staff, usually if it requires effort or they dont know they just say cannot to save face.

 

Heres a example of Bangkok bank requirements as a foriegner.

 

https://www.bangkokbank.com/en/Personal/Other-Services/Foreign-Customers/Bangkok-Bank-Accounts

[Snow Leopard]

39 minutes ago, bkk6060 said:

False info. presently you are way behind the times.

Good luck to anyone who "presently" thinks they can open an account with a visa exempt or tourist Visa only.

 

100% correct. 

[mickyr55]

45 minutes ago, bkk6060 said:

False info. presently you are way behind the times.

Good luck to anyone who "presently" thinks they can open an account with a visa exempt or tourist Visa only.

 

I opened a savings account last March with just a 30 day visa no problem what so ever, en-abled me to transfer money when I was back in UK so I was qualified with my 800,000 bhatt to get retirement visa in September.

 

 

[neeray]

49 minutes ago, Farangwithaplan said:

There are plenty of opportunities for business in Thailand and many can be fruitful. Although with the Thai baht as strong as it is, export businesses are possibly not as good as they could be.

 

I never understand why when people talk business opportunities, they think about terrible hole in the wall soi bars as the first option. Your first example of a person 'buying' a share in a bar shows just how stupid some people are if in fact that has ever happened and isn't just some urban myth.

 

The dodgy bar scene in Thailand is such a small aspect of this country but seems to often get intertwined in so many posts on this forum. It is suprising.

 

To the OP, go to a bank with cash and documentation and speak with the manager. Be friendly and courteous and try to strike up a rapport. Then ask what you need to do to obtain a bank account as you may be doing business. You may need to try this at several banks. Dress like you want to start a business.

 

I've never tried with a tourist visa but you never know your luck in a big city until you try.

I was able to open an account at a Bkk Bank but required a certified copy of my passport which I obtained in my home country and then opened the account on my next trip.

Also, I had a Thai sponsor (gf).

[buick]

3 hours ago, mickyr55 said:

I opened a savings account last March with just a 30 day visa no problem what so ever, en-abled me to transfer money when I was back in UK so I was qualified with my 800,000 bhatt to get retirement visa in September.

this happens more than people think (opening a bank account visa exempt or tourist visa).  although it doesn't happen as often as it used to.  people rarely report successfully opening an account on the TV forum (why would they start a thread for this ?).  we only get reports from those that have trouble.  so the info on the TV forum is skewed/somewhat offbase.  and sometimes the trouble is the person trying to open the account.  it isn't always the bank or bank officer.

Edited January 31, 2019 by buick

[buick]

OP,

 

first, i'd recommend looking at business opportunities in your home country first.  although i don't know what country that is.

 

second, as to the bank account, if i were you i'd focus on bangkok bank and UOB in bangkok.  maybe go to bangkok bank's siam paragon branch (dressed nicely).  and you'll need a story to tell.  if you tell them about business opportunities, they'll likely tell you to come back when you get a work permit.  so you have to talk about buying a condo or say that you are getting married soon and need to deposit 400,000thb in order to qualify for non O visa based on marriage (tell them the future wife is out of town but you plan to live in bangkok).  call that a test, maybe it works, maybe it doesn't.

 

then try an UOB branch with the same story.  if it fails, go to the bangkok bank branch at emporium.  if that fails, try another UOB branch.  if that fails, try the bangkok bank main branch on silom road.  that one is the most likely one of the bangkok bank branches that will open the account.  but i wouldn't try that one first.  you want to get some practice first. 

 

don't tell them you are trying to avoid ATM fees, that will kill your deal right away.  you should consider asking the people that decline you what kind of insurance products they offer.  sometimes, the officer will open an account for you as they'll get a commission for selling you insurance (cost is in the 5,000thb range).  so when you get to the next branch you can ask about insurance at the same time as you ask for the account and they might open it for you even though you were declined at the previous branch.

 

you can also use a law firm or a visa agent to assist in opening an account.  it will cost you money, probably about the same as the insurance product.

 

 

[elgenon]

I'm sure when I speak Thai I don't know all the ways to be polite when I talk. I hope Thais make allowance for my ignorance.

[scorecard]

5 hours ago, MadMuhammad said:

50000thb seems to be the going rate if you are lucky enough to get caught by an ‘understanding’ officer. 

The official route would not be something I’d like to experience 

Don't fall for the line that all officers are corrupt and you can your way out of anything.

 

Some are corrupt but certainly not all.

 

 

[Kerryd]

11 hours ago, bkk6060 said:

False info. presently you are way behind the times.

Good luck to anyone who "presently" thinks they can open an account with a visa exempt or tourist Visa only.

 

EXCUSE ME ?????
Where the **** did I give "false info" ???

I DID open my first bank account with only a 30 day stamp in my passport. Yeah, that was back in 2004 but I never said it was yesterday, did I ?

And in fact, people are still able to open SAVINGS accounts with Tourist Visas (and 30 day stamps) and in some cases get Internet Banking as well. (I have a buddy that is 71 y.o. now and he's only ever had METVs and he recently opened an account at Bangkok Bank and has internet banking as well. In fact I'm going to see him tomorrow to show him how to top up his phone using his internet banking.)

I have no doubt that the people who are having problems opening accounts are the ones living in hotels, have less than a week remaining on their Visa/stamp or are trying to open a CHEQUING account in the hopes they'll be able to deposit 100 baht and get a book of shiny new cheques they can try and bounce before they fly out of the country. 

Or all of the above.

And when they get turned down they run to ThaiVisa (or another forum) and try to make it sound like it's the banks fault (because no one is ever responsible for their own actions of course).
My frikken (long gone) father tried to open an account when he was here on his first holiday and the only reason they said no was because he had less than a week remaining on his 30 Day stamp. If he'd gone in a couple days earlier they would have done it no problem.

From Bangkok Bank's website regarding opening new accounts (for foreigners):

"2. Foreigner without work permit

• Passport
• A reference letter issued by one of the following institutes or organizations or required document

1. Embassy located  in Thailand 
2. An overseas bank where the customer holds an account sent via SWIFT 
3. Trusted individuals such as a Bangkok Bank staff member or customer, director of a private company, permanent residence in Thailand, government or private educational institutes located in Thailand trusted by the Bank
4. Trusted companies, e.g., an employment letter from the company if the customer is in the process of applying for a work permit.

• Document showing ownership of a fixed asset such as a condominium sale/purchase agreement (a condominium which is acceptable to Bangkok Bank) Or a property reservation agreement valued at 100,000 baht or more with a reference letter from the property developer that is acceptable to Bangkok Bank.

 

Notes: Contact addresses for both Thailand and overseas must be provided (hotel and P.O. Box addresses are not acceptable).

 

 

3. Foreigner with permanent residence in Thailand

• Passport, Certificate of Residence, or Alien Certificate 
• House Registration document"

 

As you can see, no mention at all about having to have any kind of visa. 
I think where most people have the problem is with not having an actual address. There are people who have this weird idea that they should be able to open an account just because they are a foreigner and it shouldn't matter if they switch hotels every 3 days or live in a Thai-style room under their girlfriend's name.

Seriously. They wouldn't get away with that "back home" but somehow seem to think they should be able to do it here. And then they get all "huffy" when the bank won't do it.

Of course, it's the same thing when it comes to almost everything in this country. Some people seem to have problems with almost everything they do here, while others, simply by following the rules, seem to have no problem at all.

 

 

[feasantplukka]

On 1/31/2019 at 6:57 AM, scorecard said:

I like the opening line:

 

• 'I want to know...'

 

Why have basic manners become so difficult to find...

 

TV is not a personal on demand service just for you OP, did nobody ever teach you how to start a conversation, like  'Can I please have some advice....'

 

 

His opening line was hello members?

& concluded with thank you?

Polite enough, me thinks!

[buick]

17 hours ago, Kerryd said:

And in fact, people are still able to open SAVINGS accounts with Tourist Visas (and 30 day stamps) and in some cases get Internet Banking as well.

there have been several reports of this on the TV forum.  but usually buried in a thread about someone not getting one so the positive reports don't stand out/get noticed.  in some cases, TV forum members claim the positive reports are false and the person who made the report makes an addtl post showing 'welcome to internet banking' via a screen shot from the phone or a picure of their bank book with name/acct # blacked out.  then, in future banking threads, these same TV forum members continue to say it can't happen.  it makes one wonder if these members might have had a hard time opening an account and it was due to them rather than the bank/bank officer.  sometimes it is hard to admit that the problem was 'you' not 'them'.

 

not long ago a person had a problem opening an account in bkk. came to the TV forum for help, was advised to try certain branches of bangkok bank and UOB in bkk.  then such member came back on the forum and called us all liars and such member didn't even go to the bangkok bank and UOB branches.  instead he went to a bunch of banks on sukhumvit btwn asoke and emporium - but somehow missed the UOB branch in that stretch of road and the bangkok bank branch at emporium.

 

 

[Letseng]

On 1/31/2019 at 8:48 AM, scorecard said:

I opened my first bank account with just a 30 Day Visa Exempt stamp in my passport. I've had large sums in assorted Savings and Fixed term accounts for years with no problems.

This must have been a loong time ago.

[scorecard]

1 hour ago, Letseng said:

This must have been a loong time ago.

 

Actually I didn't write or post the message quoted, it's not in the earlier entries in this thread thread and it's not in 'my activity'.

Strange.

[Nyezhov]

On 1/31/2019 at 10:45 AM, bkk6060 said:

False info. presently you are way behind the times.

Good luck to anyone who "presently" thinks they can open an account with a visa exempt or tourist Visa only.

 

I did it at Krungsri with an SETV about 6 months ago...

[wreckingcountry]

You could be out of the country (no visa)with money in bank and can’t access it


Sent from my iPhone using Thaivisa Connect

[dastott]

Lots of great advice in this thread. Just to confirm, a Savings account does not usually come with a debit card and/or internet banking? Thank you.

[KittenKong]

5 minutes ago, dastott said:

Lots of great advice in this thread. Just to confirm, a Savings account does not usually come with a debit card and/or internet banking? Thank you.

On the contrary, they usually do though they are always optional.