Thai Bank Account for retirement...new rules?

[DrJack54]

9 minutes ago, gearbox said:

If I start again from scratch it would be probably my preferred initial option again.

Deal with OP.

Read again his question and note his situation.

As far as using a non O-A to avoid having funds in a Thai bank account that would require a new non O-A every 2 years.

 

The OP clearly not opted for that..

[gearbox]

9 hours ago, DrJack54 said:

The big roller Thai made zero difference.

You had appropriate visa for bank requirements at that time. 

You did not state when this occurred.

In last few years requirements have changed significantly 

It did make a difference in my case, however I had the right visa and all the required documents. However this was 5 years ago and I see the requirements have changed:

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/Savings-Account

 

For foreigners

For more information, please contact any Bangkok Bank branch.

 

This is under the required documents, there used to be a clear information here, with the list of the documents required. Looks like the things are getting worse in that aspect.

[gearbox]

1 minute ago, DrJack54 said:

Deal with OP.

Read again his question and note his situation.

As far as using a non O-A to avoid having funds in a Thai bank account that would require a new non O-A every 2 years.

 

The OP clearly not opted for that..

Sure...this is only an option to consider if he goes back.

 

In his current circumstances a corrupt agent would be probably the cheapest way to open an account.

[DrJack54]

2 minutes ago, gearbox said:

It did make a difference in my case, however I had the right visa and all the required documents. However this was 5 years ago and I see the requirements have changed:

Again. Irrelevant! 

The OP does not have a non immigrant visa.

 

Also 5 years ago situation is irrelevant.

Rules for banks have changed drastically.

 

As for links to bank rules be it Bangkok bank or whatever just ignore them.

They are all out of date. 

 

[sandyf]

11 hours ago, chalawaan said:

It's called racism back home. 

Wrong, it is called KYC.

[Toby1947]

Manarrat Soi Post Office Pattaya, no problem job done 

[DrJack54]

2 hours ago, Toby1947 said:

Manarrat Soi Post Office Pattaya, no problem job done 

From the OP......

"Does anyone now of any other bangkok based agent that can still open an account?"

 

But yes Pattaya agents is an option. 

 

[gamb00ler]

On 6/3/2023 at 8:26 AM, DrJack54 said:

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.

This does not agree with my experience when arriving late 2020 on a non-O visa.  My landlord was very co-operative and registered me as living at her rental.  I was able to get my COR long before my 90 day report was due.  Unfortunately Kasikorn bank wouldn't open an account.  Bangkok bank did allow me to open a regular savings and a fixed deposit for my 800K.  This was Chiang Mai Imm.

[DrJack54]

15 minutes ago, gamb00ler said:

This does not agree with my experience when arriving late 2020 on a non-O visa

You had a non O visa. 

Most of these threads regarding opening a bank account concern the need for one to obtain a non O.

Just noticed that you mention CM.

 

The requirement to have made a 90 day report to obtain a certificate of residence is a BANGKOK requirement.

It's possibly the only immigration office that has that requirement.

 

From the OP ...

"Does anyone now of any other bangkok based agent that can still open an account?" 

 

You conveniently left out the sentence prior to your quote.

I was clearly referring to BANGKOK.....

 

"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."

[rwill]

On 6/3/2023 at 9:09 AM, StayinThailand2much said:

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

 

On 6/3/2023 at 9:19 AM, NoshowJones said:

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.

My first bank account was with SCB.  I did enter Thailand on an O-A visa.  But to do the first annual extension I of course needed a Thai bank account.  I live in a smaller town with very few farang.  When I went in to open the account they asked me for a work permit.  I told them on my visa I am not allowed to work but I am required to have a bank account for it.  They still didn't want to open it.  Eventually I got them to call the main office and after they talked to them they opened the account for me.  

 

Immigration should have some letter for you to give to the bank stating you need to open an account.

[rwill]

On 6/3/2023 at 7:13 AM, 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. 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!

A person I know was able to open an account with SCB recently but had to go to the main branch in Bangkok.  Lots of other banks/branches had turned him down.  He came in visa exempt but had got a 60 day extension to visit his wife(my niece).  

[Skeptic7]

Check with Bangkok Buddy. Tanya may be able to help. 

 

https://bangkokbuddy.com/

 

Or move to Pattaya/Jomtien and use Maneerat.

 

https://g.co/kgs/ZtStEx

 

He will do all for the best price. Can relocate "officially" back to BKK later. 

 

[DrJack54]

5 minutes ago, rwill said:

A person I know was able to open an account with SCB recently but had to go to the main branch in Bangkok.  Lots of other banks/branches had turned him down.  He came in visa exempt but had got a 60 day extension to visit his wife(my niece).  

No.

Unless an agent was involved. 

He would need a certificate of residence or letter from his embassy as a minimum in Bangkok. 

 

Purchased insurance policy? 

[thailand49]

On 6/3/2023 at 7:37 AM, 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.

They are still doing it but for 38,000 baht. ????

[rwill]

30 minutes ago, DrJack54 said:

No.

Unless an agent was involved. 

He would need a certificate of residence or letter from his embassy as a minimum in Bangkok. 

 

Purchased insurance policy? 

He did get a letter from the british embassy

[DrJack54]

1 minute ago, rwill said:

He did get a letter from the british embassy

Important point to mention.

Surprised Kasikorn was not helpful for him with embassy letter. 

In any event good result for him. 

[rwill]

What is so silly about this is that it is Thai law that you have a Thai bank account to obtain certain permission to stay(extensions).

So for a retirement extension it is Thai law that you are not allowed to work and that you need a Thai bank account. 

Why is it so hard for the banks to understand this?

 

I don't know if printing this out and showing it to them would help?  (probably not)

 

[DrJoy]

On 6/3/2023 at 7:37 AM, 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.

Its because of the new Anti Money Laundering Laws.

If your visa says tourist, cannot get an account.

 

Keep on trying , visit different branches

[Almer]

On 6/3/2023 at 9:19 AM, NoshowJones said:

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.

It is the cocky bank staff in there high heels making it up to seem important

[StayinThailand2much]

2 hours ago, rwill said:

 

My first bank account was with SCB.  I did enter Thailand on an O-A visa.  But to do the first annual extension I of course needed a Thai bank account.  I live in a smaller town with very few farang.  When I went in to open the account they asked me for a work permit.  I told them on my visa I am not allowed to work but I am required to have a bank account for it.  They still didn't want to open it.  Eventually I got them to call the main office and after they talked to them they opened the account for me.  

 

Immigration should have some letter for you to give to the bank stating you need to open an account.

Absolutely my experience too. Smaller branches often don't want to open accounts for foreigners, stating the 'work permit requirement', so yes, having them call their head office can help. I recently enquired about opening an account in Pattaya, and was told, yes, with a retirement visa possible, but need either, a driving license, or a document from immigration. I didn't go through with it, though, as I still have bank accounts in Bangkok.

[Mike Teavee]

2 hours ago, rwill said:

What is so silly about this is that it is Thai law that you have a Thai bank account to obtain certain permission to stay(extensions).

So for a retirement extension it is Thai law that you are not allowed to work and that you need a Thai bank account. 

Why is it so hard for the banks to understand this?

 

I don't know if printing this out and showing it to them would help?  (probably not)

 

Problem is the OP doesn't have a Bank Account to get his "Retirement" Visa so is in a "Chicken & Egg" situation where he can't get one without the other. 

 

It used to be Bank's understood this & would open you an account to enable you to seed the money to convert to your initial Non-IMM O without leaving Thailand, but in March this year Bank's were instructed to tighten up their account opening procedures which has made it even more difficult (read expensive) to open an account to start the visa conversion process... 

 

If it were me, I would... 

1. Get my Non-IMM O visa in my home Country (A bit late for the OP as he's already in Thailand) or a country near Thailand (Laos seems to be the go-2 place at the moment).
2. Enter Thailand on the 90 Day Non-IMM O & immediately use it to open a bank account 
3. Seed the 800K  
4. Get the 1 year extension

 

 

 

 

 

 

[mikosan]

On 6/3/2023 at 8:03 AM, Lite Beer said:

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

You can cancel after the first year.

[Lemsta69]

27 minutes ago, Mike Teavee said:

Problem is the OP doesn't have a Bank Account to get his "Retirement" Visa so is in a "Chicken & Egg" situation where he can't get one without the other. 

 

It used to be Bank's understood this & would open you an account to enable you to seed the money to convert to your initial Non-IMM O without leaving Thailand, but in March this year Bank's were instructed to tighten up their account opening procedures which has made it even more difficult (read expensive) to open an account to start the visa conversion process... 

 

If it were me, I would... 

1. Get my Non-IMM O visa in my home Country (A bit late for the OP as he's already in Thailand) or a country near Thailand (Laos seems to be the go-2 place at the moment).
2. Enter Thailand on the 90 Day Non-IMM O & immediately use it to open a bank account 
3. Seed the 800K  
4. Get the 1 year extension

 

 

 

 

 

 

Easier just to jump a bus to Pattaya.

[fceligoj]

You have provided no detail of where or what you tried when attempting to open a Thai Bank Account. 

 

So, did you try going to the headquarters location for Bangkok Bank?  If you attempt to do it at their main location, at least someone there has a good understanding of English and can assist plus.  Maybe if there is a problem to do it yourself, they can provide you the best recommendation for going forward.

 

I know that when I wanted to establish an account about 12 years ago, I needed one of their current commercial customers to go with me, to establish the account with a tourist visa.  Seemed very easy.  Once you have a first account, then if you want to establish the 800K baht account that is separate, should be easy to do with having that first account.

[DrJack54]

13 minutes ago, fceligoj said:

Seemed very easy

It's not easy now.

12 years ago has zero relevance.

This thread outlines how difficult in recent couple of years

https://aseannow.com/topic/1292317-open-thai-bank-account/

[gamb00ler]

On 6/4/2023 at 1:06 AM, BenStark said:

Yes if you open an account as non-US citizen, you have to sign a few documents to declare you aren't a US citizen or don't have any interests in that country

In 2020 they never requested I sign such documents @SCB bank in Chiang Mai despite my American accent (but Canadian passport).  I lived in US for 35 years and now my family says I sound more like a Yank than a Canuck.

[Finlaco]

@Dghart001 

Have a look at the immigration website and print off the requirements (it's a document written in English and Thai).  Highlight any part in Thai that relates to a bank account.  Thai people love paper that looks like it's official and drop into shopping center(s) and hit evey single bank.  If you know a Thai with reasonable English, get them to write saying that immigration department told you to open a bank account.  Again this helps.  The teller might appear to have good English skills but unless you be here for a while it's hard to judge.

 

Eventually somebody will let you open the account.  

 

 

I'm not sure why my post is in bold.  I tried to edit it.

[Mike Teavee]

23 minutes ago, Lemsta69 said:

Easier just to jump a bus to Pattaya.

Yep... I already posted a couple of agents (Mot's & Majestic) that he could try as he was already in country, but other guys who are currently planning to go down the conversion route may want to consider getting the Non-IMM O visa before trying to open a bank account instead.

 

As an aside, that's how I got mine (from Penang) But that was more because I was working in SG & only able to spend 3-5 days in Thailand at a time so it was lot easier to do a long weekend in Penang than try to do a conversion - I did already have the Bank Account (3K via Siam Legal in Bangkok).  

 

 

[buick]

i know an agent in BKK.  not long ago, he complained that he can't open bank accounts in BKK anymore, has to go to pattaya to open them.  that is also where he does his 'work' with immigration (his clients don't go to CW).  

[Wake Up]

You could go back to your home country and get a one year O-A visa and then have two years ( see threads on how to get two years from a one year O-A visa)  to put the money in a Thailand bank account. With an O-A visa and a certificate of residence you can open a bank account.