About opening a bank account in Thailand

[Tuvoc]

I didn't even try to do it myself. Maybe I'd have got lucky or maybe I'd have spent hours trying without success. I just paid Siam Legal to do it. Went to their offices the day I was released from quarantine, they filled out all the forms and gave me a reference, and told me which branch of Bangkok Bank  to take them to. They recognised Siam Legal and it was very straight-forward. That was on a 90-day Non-O.

 

 

[DrJack54]

13 minutes ago, Tuvoc said:

They recognised Siam Legal and it was very straight-forward. That was on a 90-day Non-O.

Wonder if they could also have success if you had entered visa exempt or tourist visa. Reason for question is that some folk wishing to obtain non o inside Thailand having entered VE or TV and do not have a current bank account.

[Carrbhoy]

5 hours ago, Surelynot said:

I just paid up and let Siam Legal do it all for me......fed up with Thai bureaucracy .

Happy to pay up to make this as pain free as possible.

One of the Options I'm looking at is entering Thailand on a Tourist visa and within a few months moving to Non Imm 0 once I reach 50. I will need a Thai bank account to park the 800k THB as part of the eligibility criteria.

How much do Siam Legal charge for opening bank account? Will they do bank account / Non Imm 0 combined? Will engage direct nearer the time if I go down this route - just looking to get a feel for the likely costs at this stage.

 

 

[Surelynot]

26 minutes ago, Carrbhoy said:

Happy to pay up to make this as pain free as possible.

One of the Options I'm looking at is entering Thailand on a Tourist visa and within a few months moving to Non Imm 0 once I reach 50. I will need a Thai bank account to park the 800k THB as part of the eligibility criteria.

How much do Siam Legal charge for opening bank account? Will they do bank account / Non Imm 0 combined? Will engage direct nearer the time if I go down this route - just looking to get a feel for the likely costs at this stage.

 

 

Real guess....it was 18 months ago......wife thinks 3000B.......a lot I know for paperwork that is just photocopies.......but walked over the road into the Bank ....job done......happy at the time just to get it sorted.

Edited March 13, 2021 by Surelynot

[Carrbhoy]

1 minute ago, Surelynot said:

Real guess....it was 18 months ago......wife thinks 3000B.......a lot I know for paperwork that is just photocopies.......but walked over the road into the Bank ....job done......happy at the time just get it sorted.

Bargain! No brainer - Thanks. 

[Carrbhoy]

6 minutes ago, Surelynot said:

Real guess....it was 18 months ago......wife thinks 3000B.......a lot I know for paperwork that is just photocopies.......but walked over the road into the Bank ....job done......happy at the time just get it sorted.

Found this on the Siam Legal website.

Open Bank Account in Thailand | Siam Legal International (siam-legal.com)

Service fee is US $150 and if you are based in either BKK or Chiang Mai they accompany you to the bank. Sorted. 

[Surelynot]

2 minutes ago, Carrbhoy said:

Found this on the Siam Legal website.

Open Bank Account in Thailand | Siam Legal International (siam-legal.com)

Service fee is US $150 and if you are based in either BKK or Chiang Mai they accompany you to the bank. Sorted. 

Yes....being mean I saved a few bob and went to the Bank without them.....but I have a Thai wife, which makes life so much easier......if you are on your own I would pay any extra and let them handle everything.

[Carrbhoy]

2 minutes ago, Surelynot said:

Yes....being mean I saved a few bob and went to the Bank without them.....but I have a Thai wife, which makes life so much easier......if you are on your own I would pay any extra and let them handle everything.

Absolutely. Minimum hassle and means I can get one with Bangkok bank which makes the monthly Pension transfers straightforward and the 12 month statement for the annual Retirement visa renewal easy enough to obtain. Sounds like it will be money well spent.

Thanks for the steer.

[DrJack54]

17 minutes ago, Surelynot said:

Yes....being mean I saved a few bob and went to the Bank without them.....but I have a Thai wife, which makes life so much easier......if you are on your own I would pay any extra and let them handle everything.

Thanks for this info.  Seems popular plan currently to enter visa exempt and obtain non O (often retirement). I have been pointing out to some threads that the Thai bank account might prove to bigger obstacle than some would guess. Have suggested to some PM to try an agent but had no idea if it was simple and quick. Given that time is of the essence a trouble free agent assisted bank account would speed things up. Perhaps some details could be provided to agent while in quarantine.

Edited March 13, 2021 by DrJack54

[Carrbhoy]

3 minutes ago, DrJack54 said:

Thanks for this info.  Seems popular plan currently to enter visa exempt and obtain non O (often retirement). I have been pointing out to some that the Thai bank account might prove to bigger obstacle than some would guess. Have suggested to some PM to try an agent but had no idea if it was simple and quick. Given that time is of the essence a trouble free agent assisted bank account would speed things up. Perhaps some details could be provided to agent while in quarantine.

Yes, this is the position I could be in re entering on TV & moving to Retirement (Non Imm 0). This solution removes a major obstacle which was causing me headaches.

Looking at the Siam Legal website, I would be looking to engage with them prior to my departure and arranging a face to face in Chiang Mai once I got out of quarantine. They also have Line & Whatsapp Contact detail options so this could be done during quarantine as you suggest.

[UKresonant]

2018 was the last time I opened an account. (new 1 year non-O in passport)

Krungsri would not open a Thaibaht account, but would open an £FCD account. ~(used £1100 in cash to open)

The FCD worked quite well, could SWIFT direct to that account in GBP and had a debit card to make withdrawals at Krungsri ATMs at their TT rate. It was £9.50 to SWIFT from HFX/Lloyds and 0.25% deposit Fee (min 250 baht ish) at Krungsri. Monthly postal statments, and staff could run 12months transactions from in branch terminal. No bankbook, did 7 successful >40kTHB monthly transfers successfully. Never used it with Immigration Though. 

If you know a trusted customer, at your opening branch, helps.

Bangkok bank wanted a Letter from the British Embassy when the Daughter asked to open account at a Major in-mall branch, (so had to use her Thai ID). 

Bangkok Bank Head office are quite well set-up to open an account. and they are located between two BTS Skytrain stops, in Bangkok. 

[ThailandRyan]

1 hour ago, UKresonant said:

2018 was the last time I opened an account. (new 1 year non-O in passport)

Krungsri would not open a Thaibaht account, but would open an £FCD account. ~(used £1100 in cash to open)

The FCD worked quite well, could SWIFT direct to that account in GBP and had a debit card to make withdrawals at Krungsri ATMs at their TT rate. It was £9.50 to SWIFT from HFX/Lloyds and 0.25% deposit Fee (min 250 baht ish) at Krungsri. Monthly postal statments, and staff could run 12months transactions from in branch terminal. No bankbook, did 7 successful >40kTHB monthly transfers successfully. Never used it with Immigration Though. 

If you know a trusted customer, at your opening branch, helps.

Bangkok bank wanted a Letter from the British Embassy when the Daughter asked to open account at a Major in-mall branch, (so had to use her Thai ID). 

Bangkok Bank Head office are quite well set-up to open an account. and they are located between two BTS Skytrain stops, in Bangkok. 

Yes, they are located between the Sala Daeng BTS and the Chong Non Si BTS locations.  It is actually in the middle of those two stops on Silom Road.  I had wanted to open an account with Bangkok Bank a few years ago so I could have an account that I could also have access to via ACH from the New York branch to the local branch here in BKK, but in the end went with K-Bank (Kasikorn) based upon their cellular application being able to handle all I do in Thailand for my banking needs.

[DrJack54]

2 hours ago, UKresonant said:

Bangkok bank wanted a Letter from the British Embassy

This was my experience also. Despite having an existing savings account with another bank, an one year lease and more importantly a 12 month extension stamp to a non o (retirement) etc.....they wanted me to provide something from my embassy and also 'letter' from my Oz bank. Bloody ridiculous.

I walked into Kasikorn and had zero issues. FD and Savings a/c. Just another example why many folk point out that you need to "shop around". Imagine trying to explain that to someone that has never been to Thailand. They would think it's a wind up.

@ThailandRyan must get you to explain Kasikorn "cellular application" at some stage. I only have ATM card. 

[theoldgit]

2 hours ago, DrJack54 said:

 

@ThailandRyan must get you to explain Kasikorn "cellular application" at some stage. I only have ATM card. 

https://www.kasikornbank.com/en/personal/digital-banking/kplus/pages/index.aspx

[Upnotover]

1 hour ago, jerolamo said:

An other one option is to use a modern bank like: TransferWise who is becoming Wise. You can have a credit card and take off money from anywhere around the world at best exchange price and very low cost (the lower one), without no charge on ATM. But you will not get full bank service for any papers you would ask for.

It's not a credit card, it's a debit card.

It's 1.75% on ATM withdrawals over £200/month.

All ATM withdrawals will incur to local ATM fee.

It's not a bank account so useless for immigration, etc.

But it is very handy for sending money from overseas to a Thai account if you manage to open one.

 

[BenDeCosta]

It's very tiring listening to the people who say "I just walked into a branch with my passport and they opened an account in 20 minutes" because now the rules have changed. As a foreigner now, it's very hard to open an account in Thailand, just because some monger on here did it easily in 1978 is irrelevant.  

[ThailandRyan]

5 minutes ago, BenDeCosta said:

It's very tiring listening to the people who say "I just walked into a branch with my passport and they opened an account in 20 minutes" because now the rules have changed. As a foreigner now, it's very hard to open an account in Thailand, just because some monger on here did it easily in 1978 is irrelevant.  

Every bank and their management are obviously different.  As I said in an earlier post a friend down in Rawai just opened one up at SCB on a Tourist Visa and he is here for just 90 days practicing Muay Thai as he is a MMA fighter.  He needed the account to pay his rent by bank transfer, and when he explained it to the lady at the SCB bank it was no problem.

[DrJack54]

9 minutes ago, BenDeCosta said:

As a foreigner now, it's very hard to open an account in Thailand,

Ignore the foolish smiley emote that you received. As I posted earlier, I had to "shop around" recently to open an account even though had extensions based on retirement current stamp, lease etc and still had issues. Ignore the dills. MANY posts in many threads that it can be hit and miss

Edited March 14, 2021 by DrJack54

[BenDeCosta]

I'd gladly take a GoPro camera around Bangkok going into branches trying to open an account on a tourist visa. If you give me 100 baht for everyone that refuses, I'd gladly give you 1000 baht for every success. 

Most of the bank staff seem to freeze when dealing with a foreigner because they don't know the rules and can't speak English - they just say anything to get rid of you.  

Edited March 14, 2021 by BenDeCosta

[partington]

On 3/13/2021 at 5:54 AM, jackdd said:

Which banks did you try? There are banks where your chances are better, some where they are worse, and there are also banks where it's basically impossible without a work permit. So if you tried some of the "impossible" banks your result is no surprise.

Just adding, with perhaps doubtful relevance to some, because so long ago, even this statement is overoptimistic.

In 2010, on a 90 day O visa, aiming to extend permission to stay on the grounds of retirement, I applied for an account at Kasikorn Suk 33 branch Bangkok, following a recommendation of that branch as likely on this very forum.  I was successful without work permit, wife or embassy letter.

Even then I was aware that I was very very lucky indeed and this was the exception rather than the rule.

That same week a poster on this forum recounted going to the same branch of the same bank, within a day or so of when I had gone, and being refused an account without a work permit!

[DrJack54]

22 minutes ago, partington said:

In 2010, on a 90 day O visa, aiming to extend permission to stay on the grounds of retirement,

The kicker is that you had a non o in place. Even back then you could obtain a bank account on a tourist visa. Coincidentally same year.

Fast forward due to Covid many folk wanting to open bank account having entered visa exempt or TV. More difficult now. Good solution is agent. Just for the bank account. No need agent for the non o

[jackdd]

19 minutes ago, BenDeCosta said:

I'd gladly take a GoPro camera around Bangkok going into branches trying to open an account on a tourist visa. If you give me 100 baht for everyone that refuses, I'd gladly give you 1000 baht for every success. 

Most of the bank staff seem to freeze when dealing with a foreigner because they don't know the rules and can't speak English - they just say anything to get rid of you.  

I guess that if you are equipped with a one year rental contract your chances to open one at Krungsri are way higher than 10% ????

The last time I asked Krungsri was 1.5 years ago, back then no problem with a one year rental contract. I doubt that they have changed anything, but who knows.

But no need for bets. Pick any branch of your choice (maybe make sure that the phone number provided there is working, I don't know if they keep this updated), I will call them and ask about opening a bank account with a tourist visa, if they confirm that it's possible I will share the name of the employee who told me so: https://www.krungsri.com/en/locations

[DrJack54]

29 minutes ago, jackdd said:

The last time I asked Krungsri was 1.5 years ago, back then no problem with a one year rental contract. I doubt that they have changed anything, but who knows.

Bit hard discussing these things. Bit like imm offices. Some beat to their own drum.

So about same time as you back couple of years ago Kasikorn opened an FD and savings account. I had my lease. Not needed. The clerk (good English) was searching through my pp. At that time was out/in Thailand twice a month. I showed him my annual extension with reentry permit same page. Big smile from him. "No problem Khun Jack"

Edited March 14, 2021 by DrJack54

[jerolamo]

On 3/14/2021 at 7:54 AM, Upnotover said:

It's not a credit card, it's a debit card.

It's 1.75% on ATM withdrawals over £200/month.

All ATM withdrawals will incur to local ATM fee.

It's not a bank account so useless for immigration, etc.

But it is very handy for sending money from overseas to a Thai account if you manage to open one.

 

yes, it was like this, but they are planing to change to become a bank (and not only to transfer money) and to provide a better price for debit card (and true, it is not a credit card). There is some other online bank with very good options for take money on ATM.

And yes, it should not pass some Thai government request to provide some points asked (i don't know this in fact).

[ThailandRyan]

20 minutes ago, jerolamo said:

so you want the people who has information to NOT share, because it doesn't exactly answer to the initial question...

What if an other one has a closer one question and is happy with an information provided ?

It looks like you look very stuck in your narrow views. And you have no question to ask either, you would have, however, could you abstain, but ... No, you could not, the wrong rectifier in you could not help it. What is the idea of your communication ? I'm not a psychologist.

The information you are saying your giving is unfortunately misinformation.  In order to obtain any type of extension of stay in this country you need to have a Thai bank account.  How you put the money into that also matters. There are no online bank accounts that would be accepted and transfer wise is just a company that moves money from one location to another.

[CharlieH]

A post with misinformation and a bickering exchange have been removed.

[UKresonant]

I think the problem  is BOT regs getting passed down through Banking not concerned with what immigration put in their rules. More to comply with international financial controls, which only seem to get a more paranoid context every year.

Back in 2018, after reading a similar thread on TV, I asked about account opening in a few banks out of curiosity. One chap (in an international bank with many branches in Thailand) that could speak very good English said the Head office was pushing the requirement for the WP for opening account.

For new to Thailand person, It may be that it will soon be the situation that it is not possible to get the account that you need to comply with immigration rules, especially if you are the disavowed nationalities ie. USA/Austrailia/UK That can no longer get income verification, without doing bank transfers. 

[Orient Express]

21 hours ago, ThailandRyan said:

There are no online bank accounts that would be accepted and transfer wise is just a company that moves money from one location to another.

There are two elements to Wise (ex TransferWise). One is as a company that moves money from one location to another, as you say, and the other is operating as a pseudo-bank, whereby you can deposit your funds into a so-called borderless account and hold them in several currencies: you get an IBAN (account number) and a debit card. Your funds are then ring-fenced by various financial institutions including  Barclays Bank in the UK. So Wise does effectively operate as a bank, although no help for Thai visa purposes, of course.