New bank law forbid foreigners to open Foereign Currency account in LOS

[BEngBKK]

Today I went to KrungSri in Bangkok to open a foreign currency account.

Krungsri tell me that a new bank law forbids foreigners to open any kind of bank accounts in Thailand ☹

Have anybody heard of this ?

I guess Thailand wants foreigners to deposit their money in the wife's account…

OMG….

[scubascuba3]

Not heard of it, most likely ignorant staff at Krungsri, they've told me duff info before also.

 

Go to Bangkok Bank

[Swiss1960]

6 minutes ago, BEngBKK said:

Today I went to KrungSri in Bangkok to open a foreign currency account.

Krungsri tell me that a new bank law forbids foreigners to open any kind of bank accounts in Thailand ☹

Have anybody heard of this ?

I guess Thailand wants foreigners to deposit their money in the wife's account…

OMG….

KrungSri is not on the list of banks (BBL, Kasikorn, SCB) that are still allowed to receive transfers of more than 50K THB, probably because they do not have proper KYC requirements set up. I just opened a new account with SCB, and the amount of paper you have to bring is astounding.. everything immigration wants for the annual extension of stay, plus some more!

 

But as scubascuba3 said.. probably just ignorant or lazy staff, go to another bank, preferably one of the three mentioned above, if you want to do bigger transfers.

[OneMoreFarang]

10 minutes ago, BEngBKK said:

Today I went to KrungSri in Bangkok to open a foreign currency account.

Krungsri tell me that a new bank law forbids foreigners to open any kind of bank accounts in Thailand ☹

Have anybody heard of this ?

I guess Thailand wants foreigners to deposit their money in the wife's account…

OMG….

Do you have a Russian passport? ???? 

 

[userabcd]

 

Which branch of Krungsri did you try? maybe you need to try a different branch or another bank.

 

The info for opening a Foreign Currency Deposit is on the Krungsri website:

 

Types of Account :
 

Type of FCD Account and Customer		Purpose of Deposit	Source of fund	FCD – ATM Card
Foreign Currency Deposit for Foreigner	Foreign Individual (Non – Thai Resident)	Savings/capital fund of Foreign Deposit	Funds from abroad/Foreign Banknotes /THB Currency	Available
	Foreign Juristic Person (Non – Thai Resident)			Not Available
Foreign Currency Deposit for Thai	Thai Resident	Savings/capital fund of International Businesses	Funds from abroad/Foreign Banknotes /THB Currency	Available
	Juristic Person (Thai  Resident)			Not Available

Edited March 1, 2022 by userabcd

[foreverlomsak]

A friend was told by his local immigration office that he must bank with Bangkok Bank, and as it would be a new account, it needs a letter from them to authorize the opening of the account (cost 500 Baht).

[PoorSucker]

Opened KrungSri bank account three months ago and Bangkok bank account last week. 

Have BOI work permit 

[Kenny202]

I been here 8 years and have opened several bank accounts. Some were very easy, some difficult. Mostly because of numpties who had no clue, were too lazy to go and ask and were hoping u would just go away and they could return to tiktok or facebook. Its all up to the management and staff of the branch. Bit like any govt office here

Edited March 1, 2022 by Kenny202

[MajorTom]

I opened a Krungsri account a few months ago. I had a non-o extension. No work permit.

For some strange reason they wanted my foreign drivers license...? I showed my Thai license but they said "cannot". I actually had to go home and get my home country DL and then everything was ok ????

[KhunBENQ]

1 hour ago, MajorTom said:

I actually had to go home and get my home country DL and then everything was ok

Does your home country license show an address? Guess not though.

 

I was surprised some years ago being asked about my home country address which I don't have.

[MajorTom]

2 minutes ago, KhunBENQ said:

Does your home country license show an address? Guess not though.

 

I was surprised some years ago being asked about my home country address which I don't have.

No. But they did ask for a foreign address. I don't have one either, so had to make one up. No proof was required for this.

[Sheryl]

Absolutely not true.

 

But there are limits on which banks are allowed to receive large transfers from abroad.

[CharlieH]

Topic title amended.

The previous version was misleading.

[TacoKhun]

On 3/1/2022 at 3:04 PM, Sheryl said:

Absolutely not true.

 

But there are limits on which banks are allowed to receive large transfers from abroad.

Do you mean limits only on foreign currency accounts (USD) or even regular bank accounts nominated in baht, also? 

[StayinThailand2much]

On 3/1/2022 at 12:38 PM, OneMoreFarang said:

Do you have a Russian passport? ???? 

 

I heard banks are reluctant to accept rubles now... ????

 

 

Then again, I'd be surprised if they had heard of the Ukrainian hryvnia. 

 

(They'd probably walk 3 steps back, suggesting you go to the hospital, if you mentioned you had 1 million hryvnia...)

 

Edited March 2, 2022 by StayinThailand2much

[Cleareye]

So they want rich people to invest in Thailand but they won't give them bank accounts?

[Whale]

I thought FC accounts (i.e. USD) were always a problem and not normally allowed. 

[topt]

On 3/5/2022 at 9:33 AM, Whale said:

I thought FC accounts (i.e. USD) were always a problem and not normally allowed. 

Not allowed by who and problem to who?

 

I have had $ and £ FCDs in the past but don't need anymore.

[Whale]

16 hours ago, topt said:

Not allowed by who and problem to who?

I asked my bank they said, if you have PR its OK, but if not fit in any of the groups below then the answer is no ...

 

• Individuals who are of Thai nationality
• Individuals who are of foreign nationality and permitted to undertake permanent residency in Thailand
• Juristic persons registered in Thailand
• Branches or representative offices of juristic persons that are located in Thailand and have headquarters registered abroad.
• Thai government agencies, organizations and state enterprises. 
• Civil servants/employees of Thai government agencies or organizations working abroad. 
• Juristic persons established under specific Thai laws.

[Neeranam]

On 3/1/2022 at 12:29 PM, scubascuba3 said:

Not heard of it, most likely ignorant staff at Krungsri, they've told me duff info before also.

 

Go to Bangkok Bank

Yep, they told me foreigners didn't get interest! 

[Neeranam]

On 3/2/2022 at 9:29 PM, Cleareye said:

So they want rich people to invest in Thailand but they won't give them bank accounts?

They will, this is an isolated case. Many branches give tourists accounts.

[STALINGRAD]

Bangkok Bank offers USD term accounts. Up to a year at fixed interest rate. 1% fee to open 1%fee to withdraw. Can be used to satisfy immigration requirements for 800k. Interest is paid but has gone down in recent years. Not really a profitable investment,but alternative to transferring into Thai baht and currency rates. Some smaller branches may not have large dollar amounts on hand when withdrawing. 

[topt]

6 hours ago, Whale said:

I asked my bank

Which is and where?

I note the list you show does not mention foreigners with a work permit which seems to fix most "cannot"

 

[EricTh]

On 3/1/2022 at 1:21 PM, PoorSucker said:

Opened KrungSri bank account three months ago and Bangkok bank account last week. 

Have BOI work permit 

Laws keep on changing all the time in Thailand.

 

Anyway, those people with work permit always have easier time to open bank account than retirees.

 

Last time, i tried to open up a bank account with SCB on retirement extension, the SCB manager only accept foreigners with work permit.

 

 

[EricTh]

2 hours ago, STALINGRAD said:

Bangkok Bank offers USD term accounts. Up to a year at fixed interest rate. 1% fee to open 1%fee to withdraw. Can be used to satisfy immigration requirements for 800k. Interest is paid but has gone down in recent years. Not really a profitable investment,but alternative to transferring into Thai baht and currency rates. Some smaller branches may not have large dollar amounts on hand when withdrawing. 

But I heard you have to pay hefty fees every time you withdraw or deposit into USD account, is this true?

 

 

[topt]

2 hours ago, EricTh said:

But I heard you have to pay hefty fees every time you withdraw or deposit into USD account, is this true?

 

 

Yes and no.....

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

Quote

Can I deposit and withdraw money from my FCD account in a foreign currency?

Yes, however, a fee will apply in depositing and withdrawing with foreign banknotes as follows:   

• 1 % of depositing or withdrawal money for USD (minimum at 500 baht)
• 2%  of depositing or withdrawal money for another currency (minimum at 500 baht)

See the link for all the details you should need. If you want to transfer into your baht account in the same bank no extra fees.