Elite visa - kiss of death for opening a bank account

[simon43]

@Fletcher, there is no issue for staff not speaking English - I am fluent in written and spoken Thai.  I suspect that my local TMB branch simply couldn't be bothered ????  Yes, I signed up for the mobile banking and it's working great.

 

@Mark1066 - losing an ATM card would certainly be a problem if I only had a single bank account. It's not a question of just waiting a few hours for a replacement - I'd need to fly from Laos to Bangkok.  Hence the common sense idea to open a second bank account (which I was able to do after some effort).

 

I’d hate to move to Laos. Very backward compared to Thailand

 

That is precisely why I liked living in Luang Prabang in 2012/13.  Backward can be very good when 'forward' is  forward in a skewed direction.

 

My $500 a year for business, WP and ID card is excellent value for money.  I don't have to put any $$$ in a Lao bank account, I don't have to produce any documents except for my passport and photo.  I can legally work 'online' and I can legally do my local volunteer work, (both of which I'm not allowed to do with my Elite visa).

[marcusarelus]

23 hours ago, lkv said:

As others stated, if you contact them they will help.

 

Same thing if you take a Thai friend with you and go to CIMB, you can open an account on any visa.

 

Or if you go to Bangkok Bank Headquarters with proof of residence or passport copy notarized by Embassy.

 

Or if you go to Krungsri, which is the friendliest. 

 

Or some Kbank branches.

 

It's been a hit and miss for years now with Thai banks. You somehow assumed that having an Elite visa would ensure red carpet treatment everywhere. That's mainly due to the false advertisment of the company a few years back, that "you can live like a Thai citizen", "you can open  a bank account". Yes, you can open a bank account at some Kasikorn (maybe), and Bangkok Bank Silom HQ with their "introduction", not anywhere else.

His point is not to profit from your advice and/or experience but to convey a negative impression of Thailand to anyone who reads this thread.  Given that his answers are in character.  I've opened 4 accounts with no problems - depends on what your intention is.  

[simon43]

His point is not to profit from your advice and/or experience but to convey a negative impression of Thailand to anyone who reads this thread.

 

Nope, you're completely wrong.  The reason for my post was as an example of the inconsistency of Thai banks in allowing foreigners to open bank accounts, nothing more, nothing less.

[Lacessit]

I have three bank accounts here, to spread risk. The first time, ten years ago, I opened an account with a 20,000 baht deposit and a tourist visa. The other two, retirement visa and 200,000 baht cash initial deposit. The staff fell over themselves to sign me up. Money talks.

I suspect the OP's difficulties arose from having bits of paper, rather than the real thing.

 

[lkv]

23 minutes ago, Lacessit said:

I suspect the OP's difficulties arose from having bits of paper, rather than the real thing.

 

No it doesn't. It has been discussed at length. People on retirement extensions have been asked for a work permit by incompetent staff in some branches.

 

Opening one on tourist visa nowadays, you have to read forums to know where you might be succesful.

 

Bank staff have no clue what an Elite visa is. I mean, some IO's at borders never saw one and act surprised, never mind Thai staff in a bank.

 

When Thais are confused and they don't know how to proceed, they say no.

Edited July 7, 2019 by lkv

[simon43]

I suspect the OP's difficulties arose from having bits of paper, rather than the real thing.

Er.. I had 50,000 baht in 1,000 baht notes on the desk with my passport...  As lkv stated, when in doubt, just say 'no'.

[4evermaat]

@simon43 can you confirm that you requested an invitation letter to open bank account from TE staff and they refused?  Did they give a reason for the refusal to issue the lettet? Is there a TE acct manager that you are assigned that helps you with these things?

 

I'm not denying that your first contact with the TE/bank rep, the staff was being lazy.  I think with a little persistence (different day, different branch, etc) you could get it done. If you know someonw who knows someone who works at a branch, that might be a good option also. 

[marcusarelus]

44 minutes ago, simon43 said:

Nope, you're completely wrong.  The reason for my post was as an example of the inconsistency of Thai banks in allowing foreigners to open bank accounts, nothing more, nothing less.

You speak and read Thai and the inconsistency of Thai banks is news to you?  Aw gimmie a break.  20 years opened my first account with a friend who was a manager at the Dusit hotel chain.  No problem.  Is this a wild idea to you?  It is obvious what you are trying to accomplish.  

[Mark1066]

1 hour ago, simon43 said:

 

@Mark1066 - losing an ATM card would certainly be a problem if I only had a single bank account. It's not a question of just waiting a few hours for a replacement - I'd need to fly from Laos to Bangkok.  Hence the common sense idea to open a second bank account (which I was able to do after some effort).

 

 

 

That is precisely why I liked living in Luang Prabang in 2012/13.  Backward can be very good when 'forward' is  forward in a skewed direction.

 

My $500 a year for business, WP and ID card is excellent value for money.  I don't have to put any $$$ in a Lao bank account, I don't have to produce any documents except for my passport and photo.  I can legally work 'online' and I can legally do my local volunteer work, (both of which I'm not allowed to do with my Elite visa).

Sure it would be more of an issue if you lived in Laos but you cited this problem as another reason you thought it was a good idea to leave Thailand and go to live in Laos. Hardly Bangkok Bank’s fault that you want to bank In Thailand and live in Laos.

 

And even if you really want to live somewhere backward like that, you could easily have taken either of the options I suggested, and got yourself a second ATM card or a credit card. You seem to like doing things the hard way, in Thailand at least.

 

For your $500, or perhaps a little more, you could get yourself a retirement visa in Thailand without money in the bank and without doing the 90-day reports yourself. I’m not recommending anyone do that, in case it’s not 100% legal but if you’re happy to pay that much for a work permit and visa in Laos, when you’re not working.....

Edited July 7, 2019 by Mark1066

[lkv]

20 minutes ago, Mark1066 said:

I suggested, and got yourself a second ATM card or a credit card. You seem to like doing things the hard way, in Thailand at least.

There's no ATM card in Thailand (with the exception of UOB I think, I forgot). Mostly only debit and credit.

 

One can't have two debit cards on one account as far as I know (unless I am mistaken)? -under the same name, so one would need to open another account. There have been reported cases where clients with one account, even if they had a history of 10 years with the bank, have been told to produce a WP if they want a second account.

 

Secured credit card is a different story, banks love that idea. To lend you your own money and charge you interest if you don't pay your own money back.

Edited July 7, 2019 by lkv

[John Singer]

If you are American they might be more reluctant to open an account for you as compared to other nationalities. 

[lkv]

31 minutes ago, Mark1066 said:

 

For your $500, or perhaps a little more, you could get yourself a retirement visa in Thailand without money in the bank and without doing the 90-day reports yourself. I’m not recommending anyone do that, in case it’s not 100% legal but if you’re happy to pay that much for a work permit and visa in Laos, when you’re not working.....

 

I think he's under 50.

[marcusarelus]

15 minutes ago, John Singer said:

If you are American they might be more reluctant to open an account for you as compared to other nationalities. 

Not true.  I'm an American and have opened 3 accounts at different banks. No problem.

[simon43]

1 hour ago, lkv said:

I think he's under 50.

Nope, 60 years old.

 

In any case, as I've mentioned before, it's the 'slowly boiling frog' syndrome that is encouraging me to seek pastures new.  Additionally, I blame my online work, (because that means I can live just about anywhere in the world).

 

With the choice of living in multiple locations worldwide, the 'lure' of Thailand  suddenly seems to have waned ????

[lkv]

26 minutes ago, simon43 said:

Nope, 60 years old.

 

In any case, as I've mentioned before, it's the 'slowly boiling frog' syndrome that is encouraging me to seek pastures new.  Additionally, I blame my online work, (because that means I can live just about anywhere in the world).

 

With the choice of living in multiple locations worldwide, the 'lure' of Thailand  suddenly seems to have waned ????

Yeah ok. Obviously it's your decision.

 

I see some that don't want to encourage corruption, that comment in this forum. About agents and all that.

 

Obviously, you have different reasons, since you are moving to an even more corrupt country, where purchasing work permits over the counter is still possible.

 

This is not addressed to you, but to readers in general. One cannot complain about agents in Thailand and why Immigration is corrupt, then go buy work permits in Laos ???? From Laos agents ????

 

The only difference is that corruption is cheaper in Laos than in Thailand.

 

That, and that they treat foreigners better, since they haven't seen as much of them as Thailand has. Minus also the anti foreigner propaganda, which, as I have always said, it does have an impact imo on how regular Thais may perceive foreigners.

Edited July 7, 2019 by lkv

[wilailuk]

2 hours ago, John Singer said:

If you are American they might be more reluctant to open an account for you as compared to other nationalities. 

Why? 

 

My experience is that personality, clothes, attitude and MONEY are key factors to get an account. Opened my first in Phuket 1999 on tourist visa, Bank Of Ayudhya and Bangkok Bank. Since then I´ve got Kasikorn Bank and several new Bangkok Bank accounts when moving around, also no problem, on first tourist visa and later Non O. 

 

 

[John Singer]

13 minutes ago, wilailuk said:

Why? 

Because the Foreign Account Tax Compliance Act puts additional reporting requirements on foreign banks for accounts held by US citizens. Because I have no first hand experience on that matter I worded my statement "might". 

[marcusarelus]

4 minutes ago, John Singer said:

Because the Foreign Account Tax Compliance Act puts additional reporting requirements on foreign banks for accounts held by US citizens. Because I have no first hand experience on that matter I worded my statement "might". 

No problem and I do have experience with banks, investments and insurance all of which have to fill out the paperwork.  

[lkv]

49 minutes ago, wilailuk said:

 

 

My experience is that personality, clothes, attitude and MONEY are key factors to get an account. Opened my first in Phuket 1999

 

 

Let me bring you to 2018, when I went to KTB in the shopping mall in Bangkok, where the guy I spoke with was genuinely a nice guy and wanted to help. Asked the manager. No. Poor guy effectively walked with me to Bangkok Bank and SCB in the same mall to try to help me, asking them in Thai. Yes, the KTB employee. No chance on tourist visa.

 

As I was walking with him through the mall, I got him chatting and he told me that many people opened accounts and then they were laundering money through them, and it created big problems.

 

So whilst I agree with part of what you are saying, since i opened an account myself in 2011 at Krungsri with 100K to impress them, some banks / branches will not take your money anymore. Times have changed.

Edited July 7, 2019 by lkv

[wilailuk]

28 minutes ago, John Singer said:

Because the Foreign Account Tax Compliance Act puts additional reporting requirements on foreign banks for accounts held by US citizens. Because I have no first hand experience on that matter I worded my statement "might". 

Ok, thanks, didn´t know that.. I´m from Europe..

 

 

[wilailuk]

17 minutes ago, lkv said:

Let me bring you to 2018, when I went to KTB in the shopping mall in Bangkok, where the guy I spoke with was genuinely a nice guy and wanted to help. Asked the manager. No. Poor guy effectively walked with me to Bangkok Bank and SCB in the same mall to try to help me, asking them in Thai. Yes, the KTB employee. No chance on tourist visa.

 

As I was walking with him through the mall, I got him chatting and he told me that many people opened accounts and then they were laundering money through them, and it created big problems.

 

So whilst I agree with part of what you are saying, since i opened an account myself in 2011 at Krungsri with 100K to impress them, some banks / branches will not take your money anymore. Times have changed.

Thanks for sharing your experience... Yes, times has indeed changed. I´m aware of that, so maybe it will get even more difficult in the future, who knows. In 2017 I moved from BKK to Nakhon Sawan, had to open a new account, and choose Bangkok Bank, as I already had that in BKK. Every bank is apparently an independent business, since they charge various fee´s if I use my BKK Debit Card or make deposits here, so a new account was my choice. Got the account, no problems, on Non-O Ext. 

Edited July 7, 2019 by wilailuk

[lkv]

With non O it was a temporary problem until they learned what non O is. I think it's quite doable in many places nowadays on non O.

 

Therefore, for whoever holds an Elite Visa, you walk in the bank and you say:

 

I have a retirement visa.

 

If over 50, and they question why it looks different, you say: this is for VIP. It's a VIP retirement visa. 

 

That will be enough for them to call the manager. And you continue the same story. See...for VIP....says here. PRIVILEDGED. You see? Long term visa. 5 YEARS

 

If younger on Elite, you say the same. It's a retirement visa. I retired early because I am priviledged. See? Says right here. Priviledge. Long term visa. See. 5 years. VIP retirement visa.

 

If they question your age, you tell them you retired early.

 

Keyword: long term. No WP. I retired already. Yes at 35. I am rich.

 

This approach will likely yield results under Thai logic.

 

And if it doesn't. You keep pushing them until you get to speak to someone at the top or they send an email to the heaquarters, where you keep the same story. Until they open the account. They should. It's a long term visa.

Edited July 7, 2019 by lkv

[simon43]

What I have learnt over the years is that you should never let your Thai bank account lapse - because it might be extremely difficult to open a new account. 

[balo]

It is harder to open a bank account today than a few years ago. I own 4 Kasikorn accounts, and 1 Bangkok Bank account. I know people are struggling to find banks willing to accept foreigners. Maybe OP was just unlucky. 

[fletchsmile]

4 hours ago, balo said:

It is harder to open a bank account today than a few years ago. I own 4 Kasikorn accounts, and 1 Bangkok Bank account. I know people are struggling to find banks willing to accept foreigners. Maybe OP was just unlucky. 

Being harder than a few years ago isn't unique to Thailand. Most countries are more difficult these days.

[scubascuba3]

The whole premise of the thread is a bit daft, just use cardless withdrawal. I've opened my 2nd and 3rd account on a tourist visa in the last month

[Mark1066]

15 hours ago, lkv said:

There's no ATM card in Thailand (with the exception of UOB I think, I forgot). Mostly only debit and credit.

 

One can't have two debit cards on one account as far as I know (unless I am mistaken)? -under the same name, so one would need to open another account. There have been reported cases where clients with one account, even if they had a history of 10 years with the bank, have been told to produce a WP if they want a second account.

 

Secured credit card is a different story, banks love that idea. To lend you your own money and charge you interest if you don't pay your own money back.

When I made my post, I was assuming he could live in Thailand were it not for this problem....and while you're right that you can't have two Visa or Mastercard debit cards for the same account, you can have a Visa/Mastercard debit card and a UnionPay card on the same account, with Bangkok Bank at least. And I only suggested the secured credit card (with a low credit limit so as not to tie up too much cash) as an emergency back up. If you don't use it, or only use it in the event you lose your ATM/debit card, and pay it back when the bill arrives, you won't incur any interest charges.

[Mark1066]

13 hours ago, wilailuk said:

Why? 

 

My experience is that personality, clothes, attitude and MONEY are key factors to get an account. Opened my first in Phuket 1999 on tourist visa, Bank Of Ayudhya and Bangkok Bank. Since then I´ve got Kasikorn Bank and several new Bangkok Bank accounts when moving around, also no problem, on first tourist visa and later Non O. 

 

 

I think he was referring to the onerous and far reaching tax legislation that affects expat American citizens, and creates more work/responsibilities for the financial institutions with which they wish to do business. I had to sign a declaration, twice, when I opened a bank account, to the effect that I was not an American citizen. I found it quite annoying to be honest: I don't have to sign a declaration that I'm not a citizen of any other country, just the USA.

[Mark1066]

15 minutes ago, scubascuba3 said:

The whole premise of the thread is a bit daft, just use cardless withdrawal. I've opened my 2nd and 3rd account on a tourist visa in the last month

Maybe they don't have cardless withdrawal facilities for Thai banks at Laos ATMs? Also, I did have to try a few banks before I found one that would open an account for me without a WP when I opened a second account at the end of last year. Being on a non-o visa extension based on marriage, and not working, makes it more difficult than it should be, where some banks are concerned.

[scubascuba3]

Maybe they don't have cardless withdrawal facilities for Thai banks at Laos ATMs? Also, I did have to try a few banks before I found one that would open an account for me without a WP when I opened a second account at the end of last year. Being on a non-o visa extension based on marriage, and not working, makes it more difficult than it should be, where some banks are concerned.

It certainly isn't easy nor is it consistent between banks and branches, you have to keep trying until you find a pragmatic person at a bank, can take some time