New rules for opening a bank account

[sandyf]

23 hours ago, Dirk Z said:

It seems that the rules for opening a bank account have been tightened.

Nothing new there, in 2014 the BOT made moves to limit bank accounts held by foreigners.

This is a copy of an email I received at the time.

[prakhonchai nick]

Surely a parent could open an account with an ATM card which could be used exclusively by the son.

[Lemsta69]

51 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. 
 

 

Which bank/branch in Bangkok was this? I need a new bank account so it'd be great if you could share the location. Via DM if you don't feel comfortable posting the info on an open forum.

[expat_4_life]

@Dirk Zis entirely correct that new rules are being pushed out for opening new accounts.

 

My wife works at Bangkok Bank in the head offices for their AMLO (Anti-Money Laundering Organization) group. She attends seminars here in Bangkok when the Central Bank rolls out new regulations.  All the banks have attendees. She is one of the staff that oversees compliance with such new regulations.

This has been in the works for several months and rolled out at BBL this month.  All the banks have either already made changes or are working on them, they probably have some deadline.

I confess that I don't have any specifics, just knew this was in the pipeline.

 

She initially mentioned the coming changes because she knew I had acted as guarantor for a personal friend opening an account that was on a visa exempt entry last October. After attending a AMLO seminar some months ago, she came home and said this would no longer be possible.

[4MyEgo]

On 4/6/2023 at 4:39 PM, Dirk Z said:

My son would like an account here because of frequent travel

 

On 4/6/2023 at 4:39 PM, Dirk Z said:

Does anyone know of a way to get this done?

Open another account in another bank, in your name, problem solved, give him the debit card + PIN and access code for internet banking and let him do the rest.

 

[Celsius]

2 hours ago, StayinThailand2much said:

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?

Yes. It's safer.

[StayinThailand2much]

5 minutes ago, Celsius said:

Yes. It's safer.

... than Thai banks??

[Nong Khai Man]

2 hours ago, StayinThailand2much said:

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?

I Could MIND It For You, For a Fee of Course !!

[jesimps]

2 hours 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.

Many years ago when I was going to use the monthly income method for my O visa, I needed to open another bank account using Bangkok Bank for a monthly transfer from UK using wise. When I tried to obtain a letter from Jomtien Immigration, I was told "no" , they only issued them for driving license applications. Fortunately, I managed to open one by agreeing to buy one year's accident insurance, which I never renewed. 

[Dirk Z]

1 hour ago, 4MyEgo said:

 

Open another account in another bank, in your name, problem solved, give him the debit card + PIN and access code for internet banking and let him do the rest.

 

 

I already have two accounts in my name, but that is not the solution I am looking for. I am also looking far ahead when he may need to deal with inheritance.

[Lemsta69]

1 hour ago, norbra said:

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

which part of Bangkok did you open your accounts on a tourist visa and how long ago was this?

[StayinThailand2much]

1 hour ago, expat_4_life said:

After attending a AMLO seminar some months ago, she came home and said this would no longer be possible.

Is this about people opening bank accounts for illegal purposes? (There was an article recently about 'half the villagers duped opening bank accounts for strangers'. But they were Thai, so why target foreigners?

[4MyEgo]

33 minutes ago, Dirk Z said:

I already have two accounts in my name, but that is not the solution I am looking for. I am also looking far ahead when he may need to deal with inheritance.

Unless he has the right visa, it is virtually impossible, i.e. unless you know someone in the banking system willing to risk getting caught.

 

Apparently this is all about money laundering, a good excuse which will push us all towards digital currencies which will be the end as they will have total control over our money IMO.

 

Still doesn't solve your problem, I know.

[tandor]

3 hours ago, Lemsta69 said:

State what laws are being broken please. 

for eg. not so long ago some 55 fake Student Visas were granted to certain tourists, who then were able to prove residencey and open bank accounts and obtain licences etc...that's how!

[snowgard]

If they not want open a bankaccount, just ask for the manager and tell him to report it to the headquater. In almost all banks farangs can open bank accounts but some managers not want it.

https://www.bangkokbank.com/en/Personal/Other-Services/Foreign-Customers

 

[Pink Mist]

A flame posted at another forum member has been removed, along with a Troll post and a Meme Video.

[NoshowJones]

5 hours ago, NorthernRyland said:

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.

Just break the law then if you can get away with it, there doesn't seem to be any victims. Some people are real suckers for just obeying peoples laws.

[NoshowJones]

3 hours 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.

You can bet someone will be getting financials in some way.

[NoshowJones]

2 hours ago, jerryonjay said:

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

I think you have to be under 60.

[mosan]

4 hours ago, StayinThailand2much said:

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?

That's not a good argument. During numerous visits here I only brought a small amount of cash just for incidentals along with my debit and credit cards. Never needed an account, and I've been coming here for 20 years...

[The Fugitive]

Just now, NoshowJones said:

Just break the law then if you can get away with it, there doesn't seem to be any victims. Some people are real suckers for just obeying peoples laws.

Know exactly where you're coming from! We were brought up in awe of our powerful and respectable banks and building societies. It was a privilege to be allowed a bank account. Tellers spoke down to their customers as if they were idiots and thorough nuisances. Then we learned what they were really all about, adding charges and fees wherever possible whilst trying to sell financial products to meet their targets and earn bonus. Now, agencies have entirely vanished, many branches closed and those that remain reduced to a handful of staff.     

[eisfeld]

3 hours ago, NorthernRyland said:

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. 

I never told anyone to use an agent and I've never used an agent myself so I'm not sure what you are on about.

 

I've opened both personal and business bank accounts in multiple banks. A good friend of mine opened a bank account with Krungsri on a tourist visa just a few months ago - no agent and no letter from immigration, just a nice introduction from an existing good customer.

[mosan]

1 hour ago, 4MyEgo said:

Unless he has the right visa, it is virtually impossible, i.e. unless you know someone in the banking system willing to risk getting caught.

 

Apparently this is all about money laundering, a good excuse which will push us all towards digital currencies which will be the end as they will have total control over our money IMO.

 

Still doesn't solve your problem, I know.

In the unlikely event you haven't figured it out already, "they" already have total control over your money. Just because you can take out a few "cash" bills every now and then means nothing. Try getting your money out of a bank that has a "run" in progress...not happening! 

[StayinThailand2much]

46 minutes ago, mosan said:

That's not a good argument. During numerous visits here I only brought a small amount of cash just for incidentals along with my debit and credit cards (...)

Then I wonder why there are so many currency exchange booths in Pattaya now. Certainly many more than a few years ago.

[TimeMachine]

I think if you go into Krungsri Pattaya Klang near foodland and tell them you need an account to transfer money for condo purchase you have a good chance. Tell em Dave sent you.

[mosan]

11 minutes ago, StayinThailand2much said:

Then I wonder why there are so many currency exchange booths in Pattaya now. Certainly many more than a few years ago.

Maybe because thousands of Pattaya visitors have a habit of bringing loads of cash. I really don't know...besides I've never set foot in Pattaya - always been an up-country/Issan type of guy myself and no problems using an ATM or getting money over the counter at a bank...

[Peterphuket]

5 hours 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.

 

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

Exactly what you say, I mention before I try to apply for a credit card, the bank refused, but that time my Thai gf knows somebody at that bank, and voila, fixed, TIT!!!

[Peterphuket]

Just now, Peterphuket said:

Exactly what you say, I mention before I try to apply for a credit card, the bank refused, but that time my Thai gf knows somebody at that bank, and voila, fixed, TIT!!!

It can make you very angry, but.....you have to deal with it.

[Peterphuket]

4 hours ago, Walker88 said:

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.

Terrible, they make it up (the rules) in front of you.

[mosan]

The last time I opened an account at Bangkok Bank was back in 2019 with a Non-Imm "O-A" visa. They ask if I had anyone who could vouch for me.  I had a friend married to a teacher at the local Rajchabat (City) University who went along with me and viola, they opened an account for me in about 30 minutes... No other paperwork needed except for my passport.  They said any government official, (police, teacher, Pooyai Ban [Village Headman] present account holder, etc. would suffice. - It also says this very thing on Bangkok Bank's website.