New rules for opening a bank account

[Dirk Z]

It seems that the rules for opening a bank account have been tightened. My son would like an account here because of frequent travel and maybe buying a condo, but he only has a tourist visa and opening of an account is denied, even at the international locations like shopping malls, major offices. Also our banks, where we are good customers (Krungsri, SCB and Bangkok Bank) won't help. Latest I heard is that it depend on the type of visa. We can provide him with a rental contract and as such an address.

Does anyone know of a way to get this done?

[Liverpool Lou]

Use an agent, ask a visa agent.

[NorthernRyland]

20 hours ago, Dirk Z said:

Does anyone know of a way to get this done?

I had to get a letter from immigration to open an account and that required a non-O visa. It's simply not possible unless you break the law.

[CH1961]

21 hours ago, Dirk Z said:

he only has a tourist visa

Tourist does not need a bank account. 

[hidbehindthesofa]

18 minutes ago, CH1961 said:

Tourist does not need a bank account. 

Why would a tourist not need a bank account .?

 

Any tourist who visits frequently or extents their stay on a tourist visa would find a bank account beneficial to avoid ATM charges and fees imposed by their home bank.

[Dirk Z]

7 minutes ago, hidbehindthesofa said:

Why would a tourist not need a bank account .?

 

Any tourist who visits frequently or extents their stay on a tourist visa would find a bank account beneficial to avoid ATM charges and fees imposed by their home bank.

Unlike you other comment: you got it!

[jerryonjay]

An agent can help with necessary paperwork as Im doing the same for my mother coming in on tourist visa . Im told Bank of Bangkok will do through an agency . Make sure is a reputable one . You may be asked to take out an accident insurance policy for one year at Bank of Bangkok . You will need to get a residency paper from where he is staying TM30 . Things HAVE tightened up opening a bank account but not impossible . Other thing if an American there's a few papers need filing for the IRS which many banks just would rather not deal with . Good luck 

[NorthernRyland]

1 minute ago, jerryonjay said:

Im told Bank of Bangkok will do through an agency .

They required a letter from immigration for me. I think these agents are just breaking the law and it could mean your account is closed in the future without notice if the bank branch gets busted.

[Lemsta69]

35 minutes ago, CH1961 said:

Tourist does not need a bank account. 

Nonsense.

[Lemsta69]

1 minute ago, NorthernRyland said:

They required a letter from immigration for me. I think these agents are just breaking the law and it could mean your account is closed in the future without notice if the bank branch gets busted.

State what laws are being broken please. 

[judokrab]

37 minutes ago, CH1961 said:

Tourist does not need a bank account. 

Nonsense. For example, when a tourist wants to apply for a non-O visa here (e.g. for retirement or marriage) they have to have a bank account *first*.
 

[NorthernRyland]

Just now, Lemsta69 said:

State what laws are being broken please. 

As stated they required me a letter from immigration proving I had the correct visa. In fact I needed to get the bank account in order to deposit the money before getting the visa so immigration had to testify to the fact I was in the process of applying and eligible.

 

Why would they require me to do that if I could just hire some "agent" and bypass the rules? However this maybe isn't a law but a rule of the bank itself but I don't know.

[StayinThailand2much]

39 minutes ago, CH1961 said:

Tourist does not need a bank account. 

So, if, say, I exchange a lot of money after arriving in Thailand, I'm either supposed to leave it in a dodgy hotel safe, or just carry it around 24/7?

[roo860]

42 minutes ago, CH1961 said:

Tourist does not need a bank account. 

Thanks very much for those words of wisdom ????????

[eisfeld]

5 minutes ago, NorthernRyland said:

As stated they required me a letter from immigration proving I had the correct visa. In fact I needed to get the bank account in order to deposit the money before getting the visa so immigration had to testify to the fact I was in the process of applying and eligible.

 

Why would they require me to do that if I could just hire some "agent" and bypass the rules? However this maybe isn't a law but a rule of the bank itself but I don't know.

It's just the banks internal rules. Sometimes not even that but just the local branch or even the clerk of the day that makes up their own rules. There's no law to my knowledge that prohibits tourists from opening bank accounts. And if you don't know if it's the law then better not claim that people are breaking the law.

 

Privilege Entry visas are tourist visas and the government actively supports opening bank accounts for those.

[NorthernRyland]

1 minute ago, eisfeld said:

It's just the banks internal rules. Sometimes not even that but just the local branch or even the clerk of the day that makes up their own rules. There's no law to my knowledge that prohibits tourists from opening bank accounts. And if you don't know if it's the law then better not claim that people are breaking the law.

I guess go to the bank and ask them what they require. If say a letter from immigration and you come back with some "agent" then you're probably breaking some rules and it could come back to bite you.  Same for you then, don't tell random people in random areas to hire agents which may or may not break rules of any given bank.

 

I'm in Chiang Mai and called multiple banks all of which refused except for Bangkok Bank and they required a letter. 

[Dirk Z]

I have been to a number of banks. Before about a month ago they said a legalized statement from the embassy is what they would need, but now three different banks at various locations plainly say "no". Even banks where we have been customers for quite some time with solid accounts.

[RedArmy]

Get a residency certificate from Immigration, go to the bank & ask to speak to the manager - Tell them you wish to open up a new account, so as to deposit a large sum of money into it - If still no joy, tell them that you are willing to purchase their 1 year accident insurance policy - 5900 baht. This could possibly swing things in your favour as they make a commission on any insurance policy they sell.

[Dirk Z]

1 hour ago, CH1961 said:

Tourist does not need a bank account. 

Thank you for this very helpful and carefully considered comment. It clarifies something I had not realized and I am very grateful that with this new insight I can abandon my quest.

[Mickeymaus]

At some Bangkok Bank branches you had the choice to bring a Residence Certificate or to buy an accident insurance. Is it not like this anymore? 

[Walker88]

A few years ago I was on a Tourist Visa but made an offer on a business. I needed a bank account in which to wire funds.

 

I tried tens of branches of various banks. Only at the main branch of Bangkok Bank on Silom were they amenable. I just needed a notarized letter from my Embassy saying the guy in the passport was me.

 

Maybe they've subsequently tightened, but in 2021 I had good luck there.

[sureno]

I just opened another bank account since I needed to go with SCB or Bangkok Bank which are the only ones allowing foreign transfers of <50k. 
 

I am currently on a tourist visa, and the only thing they wanted was proof of residency. So a rental agreement matching the name in the passport , along with a Thai mobile telephone number, should do it. 
 

Whole thing was done in 30 minutes with new bank book and card, app downloaded and functioning.

 

I’m aware it can be inconsistent , but I think it’s easier in tourist areas where they are used to the different types of customer perhaps, and I chose a suitably located branch in an expat area. 
 

 

[norbra]

You can get more lucid information from the banks call centres after explaining your requirements and your credentials.

Worked for me 3 times

Kasikorn x 2

SCB x 1

Never bought insurance

[CanadaSam]

I have found that buying the insurance (5900 baht) works wonders!  And the insurance is good too!  

 

Bangkok Bank, tourist visa, new account opened within minutes, with a debit card issued.

[The Fugitive]

16 hours ago, Liverpool Lou said:

Use an agent, ask a visa agent.

Absolutely! This is what I did. Bangkok Bank insisted that I bought their 12 month 'one-off' accident insurance policy. I was previously advised that the policy was worth buying anyway as it included personal accident if I 'came off' a moto. I noted that cover for moto injuries went up to age 65 only. This avoided my having to walk around risking refusals and, to this day, I consider it money well spent.

[jerryonjay]

1 hour ago, NorthernRyland said:

They required a letter from immigration for me. I think these agents are just breaking the law and it could mean your account is closed in the future without notice if the bank branch gets busted.

I can't find anywhere that its illegal to open a bank account on tourist visa . I believe it's up to the bank and seriously doubt a bank would break the law 

[jerryonjay]

1 minute ago, The Fugitive said:

Absolutely! This is what I did. Bangkok Bank insisted that I bought their 12 month 'one-off' accident insurance policy. I was previously advised that the policy was worth buying anyway as it included personal accident if I 'came off' a moto. I noted that cover for moto injuries went up to age 65 only. This avoided my having to walk around risking refusals and, to this day, I consider it money well spent.

In my case my mother is 89 . I wonder if the bank will still let her open an account without this insurance ? 

[jerryonjay]

33 minutes ago, sureno said:

I just opened another bank account since I needed to go with SCB or Bangkok Bank which are the only ones allowing foreign transfers of <50k. 
 

I am currently on a tourist visa, and the only thing they wanted was proof of residency. So a rental agreement matching the name in the passport , along with a Thai mobile telephone number, should do it. 
 

Whole thing was done in 30 minutes with new bank book and card, app downloaded and functioning.

 

I’m aware it can be inconsistent , but I think it’s easier in tourist areas where they are used to the different types of customer perhaps, and I chose a suitably located branch in an expat area. 
 

 

Thank you ! 

[The Fugitive]

Just now, jerryonjay said:

In my case my mother is 89 . I wonder if the bank will still let her open an account without this insurance ? 

Your visa agent will advise. 

[ukrules]

1 hour ago, Lemsta69 said:

Nonsense.

Correct, there are many reasons why someone on a visa exemption or tourist visa might require a bank account.

 

The number one being that they arrive on a tourist visa with plan on retiring in the country - which requires deposits that sit there for some random and arbitrary amount of time.