Agents to open bank account

[Lemsta69]

3 minutes ago, alanrchase said:

I have no issue with Wise, my point was that you do not get an exchange rate that is 3 baht below the mid rate when you do a bank to bank transfer, that is the bs.

you probably would get stiffed like that if the sending back converted to THB before remitting the funds.

[alanrchase]

1 minute ago, Lemsta69 said:

you probably would get stiffed like that if the sending back converted to THB before remitting the funds.

I thought that as well but my son received a transfer from a UK bank recently that was converted to Baht before being transferred and he got a surprisingly good rate.

[Lemsta69]

3 minutes ago, alanrchase said:

I thought that as well but my son received a transfer from a UK bank recently that was converted to Baht before being transferred and he got a surprisingly good rate.

That sounds like a mistake, hopefully the chief banker doesn't find out and come asking for more ????

[couchpotato]

Back to Agents:::

I was at the Bangkok Bank Numchai Branch last week, and one agent was there with an older Englishman opening an account..using only his passport....

Sorry I did not get the name of this agent.

 

Then my teller went and got 9 tickets from the machine. Apparently an agent was bringing in 9 Russians to open accounts (price 7k each).

Lady said the bank didn't get any of that 7k, but each person had to buy the banks Assurance package and of course the opening balance.

So I guess agent and bank do ok.

 

[wildpuppet72]

6 hours ago, hotandsticky said:

 

Do you normally carry a Certificate of Residence around with you?

Didn't use that when I opened kasikorn bank account 

[hotandsticky]

2 hours ago, wildpuppet72 said:

Didn't use that when I opened kasikorn bank account 

You will do now.......recent national mandate.

[ian carman]

8 hours ago, alanrchase said:

What a load of bs. I use Lloyds and international transfers are free. I get about 0.3-0.4 baht below mid rate on the exchange. I make sure the transfer is done in sterling and the exchange done by the Thai bank (BBL). The Thai bank charges 500 baht. For a transfer of £10,000 at 42 I will receive about 41,100 baht after all fees. Last transfer a couple of months ago took 23 hours which is fine with me.

Strange because they charged me £9 for small amounts and about 20 for large sums 

[alanrchase]

5 minutes ago, ian carman said:

Strange because they charged me £9 for small amounts and about 20 for large sums 

Lloyds International have had free international transfers for many years.

[DrJack54]

17 minutes ago, alanrchase said:

Lloyds International have had free international transfers for many years.

This thread has gone so off topic .

Transfer options have been covered in SO many threads in banking and finance forum along with general topics forum .

Fact is WISE often comes out on top.

It's not about bank charges.

That is clearly stated charge.

 

The exchange rate is key.

Here is screenshot of 2mil baht transfer I did recently in March.

The charge from wise is a whooping $500+ aud.

Was still the best option. 

I did 3 transfers as WISE limit to Thai banks (only 3 banks) has limit 2 million per transfer. 

 

Back to the OP: use agent to open bank account. 

 

Edited May 1, 2023 by DrJack54

[ian carman]

21 minutes ago, DrJack54 said:

This thread has gone so off topic .

Transfer options have been covered in SO many threads in banking and finance forum along with general topics forum .

Fact is WISE often comes out on top.

It's not about bank charges.

That is clearly stated charge.

 

The exchange rate is key.

Here is screenshot of 2mil baht transfer I did recently in March.

The charge from wise is a whooping $500+ aud.

Was still the best option. 

I did 3 transfers as WISE limit to Thai banks (only 3 banks) has limit 2 million per transfer. 

 

Back to the OP: use agent to open bank account. 

 

I will probably use agent so when I do my TM30 report I’ll look for a smart dressed Thai man lol 

[thailandsgreat]

As I remember my banking experiences: Got one account at KrungSri in Mae Sai because I was polite and held up the door to a group of lady clerks. Got one at Bangkok Bank in Khaosan Rd since they deal with many foreigners. Got one with Bangkok Bank at a preipherally located office in Pattaya, had failed at Festival. And many refusals inbetween, including the main office of Bangkok Bank at Silom which was supposedly easy.

Edited May 1, 2023 by thailandsgreat

[DrJack54]

1 hour ago, ian carman said:

I will probably use agent so when I do my TM30 report I’ll look for a smart dressed Thai man lol 

Glad it's funny for you.

Lot of advice has been posted.

1. Use agent to open bank account 

2. Obtain residence certificate from the immigration office that you plan to deal with.

3. Obtain non O in your country prior to travel to Thailand.

4. Enter Thailand visa exempt and obtain non  O nearby country.

 

You have added to morph into money transfer options.

Completely unrelated 

[DrJack54]

8 minutes ago, thailandsgreat said:

As I remember my banking experiences: Got one account at KrungSri in Mae Sai because I was polite and held up the door to a group of lady clerks. Got one at Bangkok Bank in Khaosan Rd since they deal with many foreigners. Got one with Bangkok Bank at a preipherally located office in Pattaya, had failed at Festival. And many refusals inbetween, including the main office of Bangkok Bank at Silom which was suppposedly easy.

 

When was this miracle achieved? 

When did you open your accounts? 

What was you status in Thailand at that time? 

The OP entering without visa. 

What documents did you supply bank with? 

Edited May 1, 2023 by DrJack54

[thailandsgreat]

6 minutes ago, DrJack54 said:

Ridiculous.

When did you open your accounts.

What was you status in Thailand at that time? 

What documents did you supply bank with? 

It was maybe around 8-10 years ago. I was gradually looking for an account so I could apply for non-O which I finally did through an agent. My credentials were my passport (tourist visa) and a submissive smile ???? Also many failures in different banks around Thailand.

Edited May 1, 2023 by thailandsgreat

[DrJack54]

1 minute ago, thailandsgreat said:

It was maybe around 5-8 years ago. I was gradually looking for an account so I could apply for non-O which I finally did through an agent. My credentials were my passport (tourist visa) and a submissive smile ????

Sorry if I was harsh.

Point is HUGE changes in requirements since introduction of money laundering laws.

That's only been last couple of years.

A certificate of residence is now common requirement. 

[thailandsgreat]

11 minutes ago, DrJack54 said:

Sorry if I was harsh.

Point is HUGE changes in requirements since introduction of money laundering laws.

That's only been last couple of years.

A certificate of residence is now common requirement. 

When I think, it is a little longer, maybe 8-10 years ago. But hard to launder money for those who do, I guess. I was trying to withdraw at BangkokBank in Phnom Penh but they said "Not possible. Different computer system." And if I should send money from Phnom Penh to my account in Thailand, there were many limitations, even though the same bank. But now I plan to stay within Thailand. ... Yes. I was more recently refused in Rayong with only a non-O and nothing to show I lived there.

Edited May 1, 2023 by thailandsgreat

[thailandsgreat]

If I remember correctly there is an advantage with computerized banking. If I manage to open an account with e.g. Bangkok Bank in the place I stay, I can transfer money electronically without fee from accounts in Bangkok bank at other branches to this account and withdraw without fee. But like described here it is getting more and more difficult to open account without proof of residence.

Edited May 1, 2023 by thailandsgreat

[ian carman]

12 hours ago, DrJack54 said:

Glad it's funny for you.

Lot of advice has been posted.

1. Use agent to open bank account 

2. Obtain residence certificate from the immigration office that you plan to deal with.

3. Obtain non O in your country prior to travel to Thailand.

4. Enter Thailand visa exempt and obtain non  O nearby country.

 

You have added to morph into money transfer options.

Completely unrelated 

My lol was that I would find a Thai man in a suit that’s all 

[ian carman]

12 hours ago, DrJack54 said:

Glad it's funny for you.

Lot of advice has been posted.

1. Use agent to open bank account 

2. Obtain residence certificate from the immigration office that you plan to deal with.

3. Obtain non O in your country prior to travel to Thailand.

4. Enter Thailand visa exempt and obtain non  O nearby country.

 

You have added to morph into money transfer options.

Completely unrelated 

I didn’t start the money transfer conversation it was others joining in and changing the topic .All I asked was are there agents in Pathum Thani and I now know there is and I can use one to open an account 

[AgMech Cowboy]

On 5/1/2023 at 8:35 PM, ian carman said:

I will probably use agent so when I do my TM30 report I’ll look for a smart dressed Thai man lol 

@ian carman "smart dressed Thai man". No...  They'll have on pants and a shirt, but smart dressed is asking for too much.  Also... I see mostly women agents at the Pathum Thani immigration office and they will usually look a little less 'smart' than the women who work at the bank(s). I just finished a 60 day extension or I'd take pictures for you, but it's a $20 round trip for me and half the morning.  I try not to go there too much.

 

One more thing: It's purely my opinion, but if you're needing a COR, your best bet isto bite the bullet, go to your embassy, prepare an affidavit of your residence address and be done with it. I'm a US citizen so it may be different for you, but that's what 'I' recommend. (see if you can get it in Thai).

Edited May 2, 2023 by AgMech Cowboy
added: One more thing

[ian carman]

14 hours ago, AgMech Cowboy said:

@ian carman "smart dressed Thai man". No...  They'll have on pants and a shirt, but smart dressed is asking for too much.  Also... I see mostly women agents at the Pathum Thani immigration office and they will usually look a little less 'smart' than the women who work at the bank(s). I just finished a 60 day extension or I'd take pictures for you, but it's a $20 round trip for me and half the morning.  I try not to go there too much.

 

One more thing: It's purely my opinion, but if you're needing a COR, your best bet isto bite the bullet, go to your embassy, prepare an affidavit of your residence address and be done with it. I'm a US citizen so it may be different for you, but that's what 'I' recommend. (see if you can get it in Thai).

Thanks for the info and at last I’ve got a straight answer to my OP ,yes there are agents at Pathum Thani IO 

[wildpuppet72]

On 5/1/2023 at 10:21 AM, hotandsticky said:

 

Do you normally carry a Certificate of Residence around with you?

No need for any ceficate opened another account last Monday bangkok bank only needed my passport so very easy same before when I opened up kasikorn account also very easy ???? 

[Lemsta69]

4 hours ago, wildpuppet72 said:

No need for any ceficate opened another account last Monday bangkok bank only needed my passport so very easy same before when I opened up kasikorn account also very easy ???? 

Which BBL branch in Pathum Thani was this?

[BritTim]

On 5/1/2023 at 2:38 PM, alanrchase said:

I have no issue with Wise, my point was that you do not get an exchange rate that is 3 baht below the mid rate when you do a bank to bank transfer, that is the bs.

I should probably not be contributing to this useful, but off topic, digression.

You can get a rough idea of the experience and amount actually received in your Thai account by using comparison services like monito. For instance, this is what you can expect if transferring 1,000 UK pounds to Thailand at the point in time to enter this page: https://www.monito.com/en/compare/transfer/gb/th/gbp/thb/1000

 

Notes:

1. These rates fluctuate constantly.
2. In most cases, transfers using the ancient SWIFT transfer network mostly used by the UK banks are opaque, and these comparison sites cannot provide reliable data. However, HSBC does provide exchange rate and fee information, and is fairly typical of what you will receive if using most UK banks.
3. Wise and Xe fairly consistently come out at or near the top in all comparisons like this. My experience in recent years is exclusively with transfers of roughly between US$500 and US$5,000 from the UK and US. I have almost always been very satisfied with Wise since it attracted high profile investors and partners (such as Google) started using them to facilitate transfers. 
4. This is provided for information only. I am not a financial advisor.

[BritTim]

For those wanting to open a bank account themselves without the use of an agent, here are some pointers.

 

Appearances are very important in many kinds of situations in Thailand. Look like the kind of individual the bank would want as a client.

Be polite, confident and soft spoken, especially when the initial reactions of the bank staff are negative.

If your own Thai is not fluent, try to take along a Thai as a translator who similarly has the right appearance and behaviour.

A Certificate of Residence makes life a lot easier. Sometime, a long term rental agreement is accepted instead, especially if it is backed up with a TM30 notification receipt.

Offer to avail yourself of other bank services (commonly, accident insurance) if they will agree to let you open an account.

Make clear (assuming this is true) that you would within days be making a large foreign transfer into the account.

It is more difficult for some nationalities than others. US citizens are not popular clients because of additional paperwork.

 

I would also make the point that, in almost all cases, the branch where you open an account is not very important. For reasons I will not go into, an agent may require you to have an account in their preferred bank branch. If you lose ATM cards, credit cards etc. issued by the bank, you need to visit the home branch to get replacements. It is rare that you cannot do anything else at any branch of that bank.

[Red Phoenix]

6 hours ago, BritTim said:

I should probably not be contributing to this useful, but off topic, digression.

You can get a rough idea of the experience and amount actually received in your Thai account by using comparison services like monito. For instance, this is what you can expect if transferring 1,000 UK pounds to Thailand at the point in time to enter this page: https://www.monito.com/en/compare/transfer/gb/th/gbp/thb/1000

 

Notes:

1. These rates fluctuate constantly.
2. In most cases, transfers using the ancient SWIFT transfer network mostly used by the UK banks are opaque, and these comparison sites cannot provide reliable data. However, HSBC does provide exchange rate and fee information, and is fairly typical of what you will receive if using most UK banks.
3. Wise and Xe fairly consistently come out at or near the top in all comparisons like this. My experience in recent years is exclusively with transfers of roughly between US$500 and US$5,000 from the UK and US. I have almost always been very satisfied with Wise since it attracted high profile investors and partners (such as Google) started using them to facilitate transfers. 
4. This is provided for information only. I am not a financial advisor.

Thanks, a very useful post.  The site provides factual information - up to date at moment of query - whether transferring money directly from your foreign Bank or using one of the Funds transfer service providers (like WISE) would be the best option. 

Should end the endless discussions where members compare apples with oranges to 'prove'  their preference of choice.

[Red Phoenix]

5 hours ago, BritTim said:

For those wanting to open a bank account themselves without the use of an agent, here are some pointers.

 

Appearances are very important in many kinds of situations in Thailand. Look like the kind of individual the bank would want as a client.

Be polite, confident and soft spoken, especially when the initial reactions of the bank staff are negative.

If your own Thai is not fluent, try to take along a Thai as a translator who similarly has the right appearance and behaviour.

A Certificate of Residence makes life a lot easier. Sometime, a long term rental agreement is accepted instead, especially if it is backed up with a TM30 notification receipt.

Offer to avail yourself of other bank services (commonly, accident insurance) if they will agree to let you open an account.

Make clear (assuming this is true) that you would within days be making a large foreign transfer into the account.

It is more difficult for some nationalities than others. US citizens are not popular clients because of additional paperwork.

 

I would also make the point that, in almost all cases, the branch where you open an account is not very important. For reasons I will not go into, an agent may require you to have an account in their preferred bank branch. If you lose ATM cards, credit cards etc. issued by the bank, you need to visit the home branch to get replacements. It is rare that you cannot do anything else at any branch of that bank.

Very good info. 

One additional TIP > When wanting to open an account, immediately ask on entering the branche to talk to the Manager of that branche. 

Doing so will avoid receiving 'not possible' responses from bank staff that are not familiar with opening an account for a foreigner, and don't want to lose face by having to ask their colleagues for help.  Also if the branche Manager tells you that it is not possible for a specific reason, you can also ask him whether he has any recommendations for other branches or even other banks where you could open an account.  

[adams view]

I'd want a Thai bank account too if I were Russian. After all, a Russian abroad can't help put up with Putin

[Sydebolle]

Amazing:
no alien can get an overdraft on any account here in the Land of Boanking. 
no alien can open account without a one year visa

So, why on Earth, do all those agents manage to open bank accounts for all those alien infidels who - by whatever decree - are not allowed to enrich Thai banks?

Back in the day, a tourist was more than happy to open a bank account, exchange his £$ into THB and withdraw THB all over the country. A passport was sufficient, no resident certificate, blood and stool sample nor letter of recommendation of the passport holder's country's president.

Today, some come with credit cards to withdraw (at exorbitant fees) cash, others travel with wads of banknotes or traveller cheques but only the semi-divine qualify for handing over money to the bank for the latter to make money. 

 

[Hakuna Matata]

It smells fishy. Never use agents!