Should I close my Thai bank accounts?

[Neeranam]

5 hours ago, CartagenaWarlock said:

I have three bank accounts. There are two in Bangkok Bank and one in Krungsri Bank. I have moved all the money from Krungsri to one of the Bangkok banks. Since 2024, I have stopped bringing money directly into my Thai bank. Instead, I use my ATM and credit cards for all transactions, including 7/11. I don't see any use for the Krungsri bank account. Should I close the account or let Krungsri close it for inactivity? Do you think, in the future, I may need the account? I can't think of any reason to keep it open. Any feedback will be appreciated.

If you are worried about having to pay tax here, better to keep them open and actually open more so you can send small amounts to each. However, the many foreigners I know who worry about this are worrying over nothing. 

[PeachCH]

Actually a question that you should answer yourself without listening to other people in a chat room or in social media! 

[Chivas]

4 hours ago, Liquorice said:

Talking debit cards for Savings accounts.

Regular tourists often open a bank account to transfer funds. After a stay of several months, they return to their Country, withdrawing funds and leave just a few baht in the account.

Whilst out of the Country, the annual card fee becomes due and there isn't sufficient funds in the account to cover it.

Happened a lot during the Covid pandemic, where regular tourist didn't return for up to two years.

 

Surely they could have sent £10 via Wise lol to cover the Debit Card annual fee !

[Foxx]

5 hours ago, Liquorice said:

If you have a debit card, annual card fees apply.

 

You don't have to have a debit (or ATM) card for an account.

 

If you've got a little bit saved you don't pay for your card at all with the likes of Krung Sri Exclusive.

[new2here]

5 hours ago, smutcakes said:

I am of the view that opening any kind of bank account is going to get more and more difficult with the relentless KYC requirements.

 

It costs nothing to keep an account open so why not just leave it open, you never know when you might need it. At the very least no harm could come of it. I am actually the complete opposite to you- i have 2 Bangkok Bank accounts and 2 Krungsri- Now i solely use the Krungrsi ones, but maintain some funds in BB to keep the credit card, not that i ever use it, but its there in an emergency. Actually last week i had to send off payment details for Govt payment, and a day later Krungsri called me to cancel my card due to an unauthorized transaction.

 

Luckily i still had the BB credit card so i could immediately replace the details for the payment.

 

Sorry for the long winded blurb. Personally i just dont see the reason in not keeping them- costs nothing or next to nothing and with online APP banking its very easy to manage.

I wholly agree.. I also don’t think we will ever really see any “easing” so to speak.. KYC and related laws and BoT regulations I suspect will only increase .. who knows how it when, but I don’t see an easing coming.

Given that for most banks the requirements for keeping the account open are very very simple and usually fee-free as well, if it were me, I’d make the reasonable effort to keep them open if possible.

[Nemises]

5 hours ago, Liquorice said:

If you have a debit card, annual card fees apply.

 

 

Don’t need a debit card. Use your phone instead for all purchases and cardless ATM withdrawals 

[brianthainess]

Not read all replies but I would leave them open, but be wary if it drops below 2,000 baht you will find that will disappear. plus with Krungsri if you need a yearly statement it is very quick about 20min. And they pay 0.9% after tax. And in my personal experience they have a lot more friendly staff. BKB now have stopped sending me SMS but I still appear to pay 20b. I used to get SMS every Mon morning, I don't get any now when I deposit or withdraw over 5K, I just use it to pay my power bill by Direct debit. 

[Captain Monday]

5 hours ago, StayinThailand2much said:

 

I used to get only ATM cards for my accounts for a one-time fee. Then the banks started forcing debit cards on customers, with ATM cards being unavailable.

I have still have one from Wells Fargo.  Never use it, just got an email they are trying to send me a new one. I think you still need a PIN number at the branch or else two forms of valid photo ID. 

 

I dont buy the banks being cost burdened by toursts abandoning accounts with a few hundred baht left insufficient to cover debit card fees. Many more Thais do it for sure. 

 

When I finally broke thru years of intransigence mounting the effort to get my  Yellow book issued my question was finally answered by the amphur WHY?  ”Well, Mr. Farung”

You die, disappear, abandon your condo or sell without returning the yellow book so it creates a break in the data trail. 　”So you agree to return it, OK？”　

OK OK already.

 

Sounds like typical laziness. 

 

Edited January 24 by Captain Monday

[Bday Prang]

5 hours ago, Liquorice said:

The banks will automatically close the account, but from their prospective are owed millions in unpaid charges

Total rubbish, the charge for a debit card is a few hundred baht per year, it's just a way of fleecing their customers, It in no way reflects any costs the bank may incur, If a customer was not here for a year or two and did not use their debit card the banks should be refunding the fee . The banks are owed nothing.  They deserve to be treated with contempt, every single one of them

[Chivas]

12 minutes ago, Nemises said:

Don’t need a debit card. Use your phone instead for all purchases and cardless ATM withdrawals 

 

Right up to the point your phone crashes and dies or you lose it !

[hansnl]

5 hours ago, Liquorice said:

Off-topic, but absolutely true that many hospital bills go unpaid by foreigners.

 

Obviously, but I stated when a debit card is issued, and most foreigner tourists opened a Savings account where a debit card was issued.

But the question is, which foreigners don't pay the hospital bills?

The tourists?

The people living in Thailand?

[hansnl]

5 hours ago, Red Phoenix said:

I only have 2 personal Thai bank-accounts, both with Kasikorn Bank. 

The regular Savings Account with a debit-card for daily transactions, and the Fixed Deposit Account where I keep my +800.000,- Thb to meet the financial requirement for the annual 1-year extension of stay based on my Non Imm O Visa for reason of retirement.

>> But I want to open a Thai bank-account with another major Thai Bank, in case of any problems with the Kasikorn accounts.

Unfortunately the closest BangkokBank, Siam Commercial Bank and KrungSri Bank branches are +40 km from where I live, otherwise I would have already opened an account there. 

Any suggestions or caveats to opening an account with other Thai banks, there is a KrungThai branche and a GSB (Governments Savings Bank) relatively close to where I live.

KTB or GSB.

Both will do just fine.

[Jingthing]

You never know.

Sometimes it can be very hard to open new accounts here when you might need them.

I have three accounts that I use for different purposes (SCB, KBANK, BANGKOK).

I had considered closing the Bangkok Bank account but I posted here and was persuaded to keep it. 

Surprise, surprise, that's the account that I use very heavily now. 

[flexomike]

4 hours ago, KhunBENQ said:

Good to hear that Kasikorn is still foreigner friendly.

I would not try my luck at GSB or Krungthai. Have no opinion about Krungsri.

Krungsri was the easiest one for me, used my yellow book, no problems at all

[RubbaJohnny]

6 hours ago, Liquorice said:

Bangkok bank 200 BHT per annum.

Are you sure?

I find K bank reliable,I also have several BKK accounts

The one with a debit card cost I think 400 to issue , 300 a year to renew and a monthly charge of 15 baht so 480 baht a year, a trivial sum perhaps it depend on the branch?

[Nemises]

25 minutes ago, Chivas said:

 

Right up to the point your phone crashes and dies or you lose it !

Not the slightest problem with either of your perceived scenarios: 1/ Buy a better phone to avoid “crashes” and 2/ set up automatic back-ups of your phone to the cloud in the event of it dying or loss.

 

Get with the times. Never carry a wallet again. Everything these days is on your phone including your debit card… obviously!

 

Hope that helps. You’re welcome!

 

 

Edited January 24 by Nemises

[Raindancer]

2 hours ago, Mike Lister said:

Per depositor, per bank, excluding certain account types.

 

https://www.dpa.or.th/site/index

 

 

Edited January 24 by Raindancer
Amendment

[flexomike]

27 minutes ago, brianthainess said:

Not read all replies but I would leave them open, but be wary if it drops below 2,000 baht you will find that will disappear. plus with Krungsri if you need a yearly statement it is very quick about 20min. And they pay 0.9% after tax. And in my personal experience they have a lot more friendly staff. BKB now have stopped sending me SMS but I still appear to pay 20b. I used to get SMS every Mon morning, I don't get any now when I deposit or withdraw over 5K, I just use it to pay my power bill by Direct debit. 

Two Bangkok Bank accounts get sms every Monday morning and after any purchase I make using debit card, I pay 15 baht a month

[brianthainess]

1 minute ago, flexomike said:

Two Bangkok Bank accounts get sms every Monday morning and after any purchase I make using debit card, I pay 15 baht a month

I want to go and complain but their attituded puts me of going.

[prakhonchai nick]

6 hours ago, Red Phoenix said:

I only have 2 personal Thai bank-accounts, both with Kasikorn Bank. 

The regular Savings Account with a debit-card for daily transactions, and the Fixed Deposit Account where I keep my +800.000,- Thb to meet the financial requirement for the annual 1-year extension of stay based on my Non Imm O Visa for reason of retirement.

>> But I want to open a Thai bank-account with another major Thai Bank, in case of any problems with the Kasikorn accounts.

Unfortunately the closest BangkokBank, Siam Commercial Bank and KrungSri Bank branches are +40 km from where I live, otherwise I would have already opened an account there. 

Any suggestions or caveats to opening an account with other Thai banks, there is a KrungThai branche and a GSB (Governments Savings Bank) relatively close to where I live.

A fixed deposit account may pay a little bit more interest, but with no debit card and no online withdrawals.  you could run into trouble if you were ill or hospitalised  and unable to visit a bank and withdraw money!

[Chivas]

14 minutes ago, Nemises said:

Not the slightest problem with either of your perceived scenarios: 1/ Buy a better phone to avoid “crashes” and 2/ set up automatic back-ups of your phone to the cloud in the event of it dying or loss.

 

Get with the times. Never carry a wallet again. Everything these days is on your phone including your debit card… obviously!

 

Hope that helps. You’re welcome!

 

 

 

Clearly that went right over your head........................

[TheFishman1]

Up to you TIT

[NoDisplayName]

6 hours ago, CartagenaWarlock said:

I have three bank accounts. There are two in Bangkok Bank and one in Krungsri Bank.

 

Assuming these are all savings accounts.

 

Bangkok Bank savings without ATM card to hold the major portion of your cash.

 

Bangkok Bank savings with ATM for your daily use with 10-20k baht, top up as needed from the non-ATM account.

 

Keep the Krungsri account for online purchases, lazada, delivery, or any time a clerk will have access to your account information.  Maintain minimum balance, online transfer (no fee) as needed.

[Nemises]

25 minutes ago, Chivas said:

 

Clearly that went right over your head........................

Clearly you are out of touch with technology by criticising the suggestion of using a phone for all debit card functions…………

 

 

Edited January 24 by Nemises

[Negita43]

There is an old saying about never putting your eggs in one basket - keep them all till they expire.

[newnative]

Keep them all open.

[Bday Prang]

29 minutes ago, hansnl said:

But the question is, which foreigners don't pay the hospital bills?

The tourists?

The people living in Thailand?

                   How is it even possible, any time I have visited a hospital, my ability to pay has always been their primary concern, before commencing any treatment, and then when ready to leave i notice I am always "accompanied" to the cashier by at least one strapping orderly.  I call b/s on these alleged unpaid bills that they claim run into millions.

                  Obviously my mrs gets treated for free, being a Thai national, but she has never worked or ever paid a single baht  in tax , how come a couple of stitches in a minor cut for her costs nothing , but for me the bill can be around 1000 baht?  Its not like they have to employ additional staff to treat me , the cost of cat gut and bandages is the same, and  the A&E  nurse treating me is there anyway, and if not attending to me would probably be either asleep or playing with her phone  all b/s as far as I'm concerned

                   Its exactly the same with banks, with their ridiculous procedures and rules for foreigners, often in the guise  of anti money laundering   measures, that real money launderers simply avoid whilst laughing at them, we are not allowed credit ok that's fair enough   yet to still claim we represent any form of threat simply for keeping money in a savings account is insulting to ones intelligence. What even is the point of requiring a certificate of residence to open a savings account, what does it even prove ?

                    I have had a bank account here for 30 years, not once have they ever contacted me either by post or phone, in fact the only time they ever did contact me, to tell me my debit card was up for renewal, they simply arranged for a message to appear on an ATM machine advising me to renew my card , I could be living anywhere and quite frankly its none of their business like wise the money in my account is mine and not theirs, they should be grateful that I  choose to bank with them.  

                     This arrogant attitude of banks is not unique to Thailand  I hasten to add

[Liverpool Lou]

7 hours ago, CartagenaWarlock said:

Do you think, in the future, I may need the account?

How could anyone but you know that?   But, given that opening new accounts may not always be straightforward for some foreigners, closing an existing account would never make sense.

Edited January 24 by Liverpool Lou

[Liverpool Lou]

6 hours ago, Lacessit said:

IIRC the guaranteed balance in any bank account is 1 million baht.

Unlimited 100% deposit protection with GSB.

[Liverpool Lou]

.

Edited January 24 by Liverpool Lou