Bank account for tourist 2022

[wn78]

Just recently I was in Thailand on tourist visa and I walked into a Bangkok bank branch and asked to open an account.  They said OK, just a passport and pay 5000 b for some insurance.  I passed at that time, but now thinking it was probably a good deal reading about others having to jump through hoops with letters from immigration etc....

 

Question: will it be a "normal" account with no strings attached?  What I don't want is to have this account flagged as "temporary/tourist account" or something like that and then being harassed down the road for more documentation for additional verifications, or have my transactions being put on hold pending more verifications, and not being able to comply in time because not living in Thailand, and then get my account frozen.  Mostly concerned about money being wired in/out internationally with no hiccups.  I have not seen any reports of this, so I assume once my account is open, it will be managed for a tourist in the same way as for a retirement visa same as for a good Thai citizen.....right?....right?....

Edited August 22, 2022 by wn78

[timendres]

I am not aware of any sort of bank account that is considered "tourist" or "temporary".

It will likely be a "Savings Account", like any other.

Transfers in should be no problem.

Transfers out would be a different matter.

[wn78]

44 minutes ago, timendres said:

Transfers out would be a different matter.

Can you elaborate?  Are restrictions related to the savings account, like the number of withdrawals per month?

 

The bank account I was offered came with a debit card (at 500 b annual fee for that).  So I assumed it would be a checking account not savings

 

[timendres]

2 minutes ago, wn78 said:

Can you elaborate?  Are restrictions related to the savings account, like the number of withdrawals per month?

 

The bank account I was offered came with a debit card (at 500 b annual fee for that).  So I assumed it would be a checking account not savings

I am not aware of any withdrawal limits, but I have never checked into this, as I am here and use my debit card for payments, and make only a few ATM withdrawals per month. The debit card is for your savings account. The only time I have ever had a checking account was for my business account.

[wn78]

3 minutes ago, timendres said:

I am not aware of any withdrawal limits, but I have never checked into this, as I am here and use my debit card for payments, and make only a few ATM withdrawals per month. The debit card is for your savings account. The only time I have ever had a checking account was for my business account.

Ok, thanks.  This makes me think about ways making outgoing international transfers in case if I ever want out, and not being in Thailand physically.  Probably need a separate topic for that.  Do I need to go to the bank in person to make an international wire transfer, meaning I cannot take the money out unless I am in Thailand?

[Chris.B]

It will be a normal savings account, go with it.

 

[timendres]

Just now, wn78 said:

Ok, thanks.  This makes me think about ways making outgoing international transfers in case if I ever want out, and not being in Thailand physically.  Probably need a separate topic for that.  Do I need to go to the bank in person to make an international wire transfer, meaning I cannot take the money out unless I am in Thailand?

I have a Kasikorn bank account, and use the K-Plus mobile app. I am able to transfer money from KBank to my US bank account (Capital One 360) with zero problems. However, use of that app outside of Thailand may be an issue. Hopefully someone else can comment on that.

[foreverlomsak]

7 minutes ago, wn78 said:

Do I need to go to the bank in person to make an international wire transfer, meaning I cannot take the money out unless I am in Thailand?

In my experience yes, but I do not have internet banking, was told originally Farang cannot have, now it's different, but I've done nothing about getting access.

[Bruno123]

Dependent on one's location, it might not be necessary to pay out 5,000 baht for a superfluous insurance policy.

Instead they ask for 700 baht for the physical card, together with a 500 baht initial deposit.

[Rohe60]

I got an account with Bangkok Bank in June this year with the help of an agent.
The agent did cost me 3,000 BHT but there was no need for me to go to immigration to get some weird confirmations from them.
All she needed was my passport and a business card from my hotel.
Opening the account took about 30 minutes, there where no insurances or other scams.
Just the normal bank fees, location was Pattaya.

[wn78]

4 hours ago, Rohe60 said:

I got an account with Bangkok Bank in June this year with the help of an agent.
The agent did cost me 3,000 BHT but there was no need for me to go to immigration to get some weird confirmations from them.
All she needed was my passport and a business card from my hotel.
Opening the account took about 30 minutes, there where no insurances or other scams.
Just the normal bank fees, location was Pattaya.

Thanks, maybe I will do that too.  3000b better than 5000b if the outcome is the same.  

Did the agent handle opening all by herself, or did you go to the branch together with her?

[Bruno123]

15 hours ago, wn78 said:

Thanks, maybe I will do that too.  3000b better than 5000b if the outcome is the same.  

Did the agent handle opening all by herself, or did you go to the branch together with her?

You don't need an agent; just a residence certificate from Immigration. You just take some proof of where you are staying, along with 300 baht. 

Then at the branch, they will charge you only for card and bank deposit. Anything else and they are just trying it on. Up to you if you want the added services. Even up to you if you want a card.

 

 

[wn78]

2 hours ago, Bruno123 said:

You don't need an agent; just a residence certificate from Immigration. You just take some proof of where you are staying, along with 300 baht. 

Then at the branch, they will charge you only for card and bank deposit. Anything else and they are just trying it on. Up to you if you want the added services. Even up to you if you want a card.

 

 

I hear you.  Basically they charge for letting you skip the immigration paperwork.  They did not ask for any immigration papers when they offered me an account, just the passport, the insurance fee, and the card fee.

[Bruno123]

1 minute ago, wn78 said:

I hear you.  Basically they charge for letting you skip the immigration paperwork.  They did not ask for any immigration papers when they offered me an account, just the passport, the insurance fee, and the card fee.

If you have a tenancy agreement, that should be enough, along with your passport and photos.

[Bruno123]

^^

 

I meant enough for the Residence Certificate.

[Gottfrid]

On 8/22/2022 at 3:59 PM, wn78 said:

They said OK, just a passport and pay 5000 b for some insurance.

So, why in the world did you pay 5k baht? It´s just to go into the branch and open and account for 500 baht and an additional 200-300 for the card.

[bamnutsak]

I think the insurance is 5,900.

 

https://www.bangkokbank.com/en/Personal/My-Family-and-Me/Bancassurance/BKI/PA-1st/PA-1st-VIP

 

Some say it may auto-renew so ask first.  Some say it doesn't include internet and mobile banking so ask first.

 

For some it's a small price to pay, for others an insurmountable challenge.

 

The Residency Cert requires one to go to CW/Imm (I'm assuming Bangkok here), with supporting docs, which may include a TM.30 and/or a lease. They mail the certificate to you.

 

I think some of the concierge services offer this, for a bit less money.

 

The unfortunate truth is that BBL employees have a sales quota/SPIFF on these policies. Maybe just decline the insurance after expressing an initial interest or ask to speak with the manager.

 

Others report success with a Thai reference.

 

 

[theoldgit]

18 hours ago, wn78 said:

 when they offered me an account, just the passport, the insurance fee, and the card fee.

What exactly was the insurance they wanted you to buy?
 

Bank tellers have been offering this insurance deal for years to allow you to open an account, it’s not official and they get commission on the sale, very often the insurance is next to worthless.

[wn78]

16 hours ago, theoldgit said:

What exactly was the insurance they wanted you to buy?
 

Bank tellers have been offering this insurance deal for years to allow you to open an account, it’s not official and they get commission on the sale, very often the insurance is next to worthless.

I think it was some kind of accident insurance, don't remember for sure.....  I had no need for it, but that was their deal.  But if it relieves me from dealing with immigration certificates, I will take it.

Edited August 24, 2022 by wn78

[wn78]

16 hours ago, bamnutsak said:

I think the insurance is 5,900.

 

https://www.bangkokbank.com/en/Personal/My-Family-and-Me/Bancassurance/BKI/PA-1st/PA-1st-VIP

 

Some say it may auto-renew so ask first.  Some say it doesn't include internet and mobile banking so ask first.

 

For some it's a small price to pay, for others an insurmountable challenge.

 

The Residency Cert requires one to go to CW/Imm (I'm assuming Bangkok here), with supporting docs, which may include a TM.30 and/or a lease. They mail the certificate to you.

 

I think some of the concierge services offer this, for a bit less money.

 

The unfortunate truth is that BBL employees have a sales quota/SPIFF on these policies. Maybe just decline the insurance after expressing an initial interest or ask to speak with the manager.

 

Others report success with a Thai reference.

 

 

Thanks for the tip on auto-renew, I don't intend to pay this extortion fee annually...one time is enough

[Rohe60]

On 8/22/2022 at 5:07 PM, wn78 said:

Thanks, maybe I will do that too.  3000b better than 5000b if the outcome is the same.  

Did the agent handle opening all by herself, or did you go to the branch together with her?

I had to meet with the agent at the branch since there where plenty of papers to sign.
But the agent did all the bureaucracy with immigration by her own. I even got a residence certificate from immigration.
(I was on vacation only, staying at a hotel, entry to Thailand was done with visa exempt)