Thai Bank Account for retirement...new rules?

[Dghart001]

So I have just arrived on a 60 day tourist visa, and am planning to apply for the retirement visa. I need to open a bank account to transfer the 800,000 baht, but it seems that as of about a month ago banks are downright refusing to open accounts for foreigners on a tourist visa. I contacted Siam Legal to pay the fee, but it seems they wont even do it now. Instead they are saying I need to pay 38000 for their retirement visa package which includes the account. Does anyone now of any other bangkok based agent that can still open an account? I suppose I can fall back on the Siam legal option, but it seems excessive to pay the extra money for something I feel I can do myself.

Thanks for any info!

[CartagenaWarlock]

May be check with an agent that will open only Bank Account, without the retirement visa. Opening bank accounts on a Tourist Visa is an issue many have posted it. 

[zzzzz]

thats the price for going from a tourists visa to a non o visa to a 1 year extension with NO MONEY in the bank
some banks will charge you around 5-6,00 baht for insurance to open an account on a tourist visa 

[Dghart001]

I don't mind paying 5k or so to open one...just a bit surprised that not even Siam Legal is doing it anymore.

[Lite Beer]

2 minutes ago, Dghart001 said:

I don't mind paying 5k or so to open one...just a bit surprised that not even Siam Legal is doing it anymore.

You would be charged the 5k every year.☹️

[BenStark]

27 minutes ago, Dghart001 said:

I contacted Siam Legal to pay the fee, but it seems they wont even do it now. Instead they are saying I need to pay 38000 for their retirement visa package which includes the account.

Sounds as if Siam Legal's greed has reached new levels

[phetphet]

Have you made living arrangements yet?

Even if you are staying long term in a hotel. Try and get TM.30 plus a letter that you are staying there and use them to get a Residence Certificate. Then use the resi Cert to open a bank account.

You still might get refused, but try different banks.

[Dghart001]

Just now, phetphet said:

Have you made living arrangements yet?

Even if you are staying long term in a hotel. Try and get TM.30 plus a letter that you are staying there and use them to get a Residence Certificate. Then use the resi Cert to open a bank account.

Yeah 1 month airbnb but will get 12 month lease.

[scottiejohn]

12 minutes ago, Lite Beer said:

You would be charged the 5k every year.☹️

Why?

You only open the account once!

[phetphet]

5 minutes ago, Dghart001 said:

Yeah 1 month airbnb but will get 12 month lease.

Getting the Residence Certificate a.k.a Certificate of Residence, should make it easier to open a bank account.

[daveAustin]

23 minutes ago, zzzzz said:

thats the price for going from a tourists visa to a non o visa to a 1 year extension with NO MONEY in the bank
some banks will charge you around 5-6,00 baht for insurance to open an account on a tourist visa 

Highly unlikely today but might be doable in a tourist-‘friendly’ place like Pattaya. On the bank’s regs,  you typically need a work permit to open one, or at least a non-O (which you can’t get without an account) + local ID such as driving license and yes certified address/contract. Unless op knows banking staff—preferably manager—to bend the rules, would be best off contacting an agent. 

[Lite Beer]

6 minutes ago, scottiejohn said:

Why?

You only open the account once!

They will take the "insurance" fee from your account every year.

[BenStark]

7 minutes ago, daveAustin said:

Unless op knows banking staff—preferably manager—to bend the rules, would be best off contacting an agent. 

I don't think any rules need to be bent, it is more a case of not making up their own rules on the spot.

 

As far as I'm aware, and that hasn't changed recently, there is no need for a work permit to open an account.

 

I'm here many years, with pink card and yellow book, and recently I also got the same issues at a few banks where I was refused to open accounts............................that is until I got the head office involved, after which they were very cooperating.

[Dghart001]

6 minutes ago, daveAustin said:

Highly unlikely today but might be doable in a tourist-‘friendly’ place like Pattaya. On the bank’s regs,  you typically need a work permit to open one, or at least a non-O (which you can’t get without an account) + local ID such as driving license and yes certified address/contract. Unless op knows banking staff—preferably manager—to bend the rules, would be best off contacting an agent. 

Thanks...I guess I am just curious if anyone knows of an agent or legal firm that will still open an account for me for a fee.

[mania]

The easiest places to open accounts are always the banks in malls or part of the shopping complex's like Big C etc

 

Try one that has a Bangkok Bank, SCB or Krungsri (bank of Ayudhya)

[scubascuba3]

41 minutes ago, Lite Beer said:

You would be charged the 5k every year.☹️

you won't, one year scam insurance only, only real fools renew

[DrJack54]

29 minutes ago, Dghart001 said:

Yeah 1 month airbnb but will get 12 month lease.

OP, it's not about lease.

Ignore the posts re various suggestions to open bank account.

 

If opening a bank account in Bangkok you need a "certificate of residence" 

There is a catch 22....

To obtain a certificate of residence you need to have made a 90 day report (TM47) which is not possible on a tourist visa or visa exempt entry.

 

Surprised Siam Legal stopped that service.

You could try @ThaiVisaCentre and ask them.

 

Other provinces do not have the TM47 requirement. 

[scottiejohn]

49 minutes ago, Lite Beer said:

They will take the "insurance" fee from your account every year.

No they won't if you don't renew it! Or the agent makes it go away!

[Caldera]

54 minutes ago, Lite Beer said:

They will take the "insurance" fee from your account every year.

Only if you let them. You can cancel the insurance after the 1st year and that won't affect your bank account. 

[sandyf]

1 hour ago, Dghart001 said:

So I have just arrived on a 60 day tourist visa, and am planning to apply for the retirement visa. I need to open a bank account to transfer the 800,000 baht, but it seems that as of about a month ago banks are downright refusing to open accounts for foreigners on a tourist visa.

If you are planning to get a retirement visa it should have been done prior to travelling to Thailand. banks would be more co-operative with the correct type of visa. There is nothing new in the stance banks are taking. I have letter from 2014 that pointed out that a change in BOT regulations required foreigners to have a work permit or long term visa.

[Dghart001]

7 minutes ago, sandyf said:

If you are planning to get a retirement visa it should have been done prior to travelling to Thailand. banks would be more co-operative with the correct type of visa. There is nothing new in the stance banks are taking. I have letter from 2014 that pointed out that a change in BOT regulations required foreigners to have a work permit or long term visa.

Yes good advice. 

[StayinThailand2much]

54 minutes ago, mania said:

Try one that has a Bangkok Bank, SCB or Krungsri (bank of Ayudhya)

Opening a bank account with SCB (as a foreigner) has always been a challenge unless one is recommended by a current customer.

[NoshowJones]

1 hour ago, CartagenaWarlock said:

May be check with an agent that will open only Bank Account, without the retirement visa. Opening bank accounts on a Tourist Visa is an issue many have posted it. 

I'm not in a tourist area and I tried to open an account with TTJ in Nakhon Sawan accompanied by my wife, they asked for my passport fine, after checking it the teller handed it to the wife and said cannot open an account unless you have a job.

Yes, this is Thailand, what does it matter if the person has a job as long as they have a regular income.

If every other bank had the same attitude, retiree's would not be able to open an account at all.

[bamboozled]

Frickin' banks. And to think, you are putting your own money in there and they will be using it to make money, presumably, as that's what banks do. It's not like you are asking for a loan. I wonder if going to immigration and asking them how you can deposit the money for eventual retirement visa might give some ideas. It's rather a catch-22, isn't it? Need the visa to be able to open an account in order to deposit the money to obtain said visa.

[BritTim]

4 hours ago, Lite Beer said:

They will take the "insurance" fee from your account every year.

The last time I helped a friend open a bank account, using the inducement of buying the bank's accident insurance, it was definitely just for one year. My friend signed nothing that would authorise the bank to renew the insurance in subsequent years.

[Delight]

 The path to a retirement visa is 

 

1 )Acquire a 'non immigrant  O' visa .Typically obtained from the Thai consulate in one's  home country.

2 Obtain retirement visa-a retirement visa is always an extension  of the original non immigrant . 800,000 (money from abroad ) Baht must be in your bank for 2 months prior to application

 

I understand that a Non immigrant  O visa can be obtained in Thailand -assuming it is the 1st stage of obtaining the retirement visa. You must speak with your local immigration office

[cjinchiangrai]

4 minutes ago, Delight said:

 The path to a retirement visa is 

 

1 )Acquire a 'non immigrant  O' visa .Typically obtained from the Thai consulate in one's  home country.

2 Obtain retirement visa-a retirement visa is always an extension  of the original non immigrant . 800,000 (money from abroad ) Baht must be in your bank for 2 months prior to application

 

I understand that a Non immigrant  O visa can be obtained in Thailand -assuming it is the 1st stage of obtaining the retirement visa. You must speak with your local immigration office

Correct answer! Get the 90 day O, open the account, move the money, wait two months and apply for the extension. 

[DrJack54]

7 minutes ago, cjinchiangrai said:

Correct answer! Get the 90 day O, open the account, move the money, wait two months and apply for the extension. 

The OP is already in Thailand.

Open bank account is first step.

 

To open a bank account he requires a certificate of residence or letter from his embassy.

 

However he cannot obtain a certificate of residence at CW immigration as had not done a TM47.

 

He can use an agent to open a bank account. 

[Mike Teavee]

21 minutes ago, Delight said:

1 )Acquire a 'non immigrant  O' visa .Typically obtained from the Thai consulate in one's  home country.

A non-Imm OA Visa is typically obtained in your home country (or a country where you have legal residency rights). 

 

Non-IMM O Visa's can also be obtained other countries e.g. I got my Non-IMM O on a long weekend trip to Penang in Malaysia (I'm British & was living in Singapore at the time).

 

 

[Smokey and the Bandit]

5 hours ago, scottiejohn said:

Why?

You only open the account once!

You would only need to pay the 5 or 6k once. I opened an account at Bangkok Bank using that method!