Amazing requirements to open account as a Tourist at Bangkok Bank HQ (Silom)

[Kwaibill]

16 hours ago, sungod said:

Try popping over to Europe and opening an account on holiday.

Or U.S. 

Trying to re-open one there. So far all require proof of residency and a U.S. phone number.

[Max Brok]

7 hours ago, Mike Lister said:

My wife and I have several accounts at different banks but recently we opened a new joint account at a bank where we each already have individual accounts. As others have said, it was like starting all over again. Even though we have already had accounts with them for over a decade, they insisted on address verification etc. Bizarrely, I used a credit card statement from them as proof of my address and they accepted it!

Why open a joint account. No ATM card and one died you need a court/judge to get the money. And can take months before approval.

[Mike Lister]

Just now, Max Brok said:

Why open a joint account. No ATM card and one died you need a court/judge to get the money. And can take months before approval.

We wanted a specific type of account called an either/or account that doesn't perform in the way you describe, they are not common in Thailand but they do exist.

 

https://www.nobroker.in/forum/what-is-either-or-survivor-bank-account/

[VBF]

11 hours ago, Andycoops said:

Totally agree as a tourist do people go to other countries on holiday and open accounts in each place, no.

So why do it here.

Totally bonkers.

Depends how long you stay in a place. I have, over the years spent up to 6 months holidaying using Thailand as my base and travelling the region. All sorts of combinations of TV, Non-Imm O and visa-free entry as the rules dictated.

Makes sense and is a lot cheaper than relying on UK cards although companies like Wise have changed that to some degree.

I was also, at that time, considering retirement in Thailand so the decision to open the account was simple.

[OJAS]

The Bangkok Bank website now contains the following "helpful" information regarding the requirements for opening a new account at that particular "revered" financial institution: 

 

Required Documents

For Thai nationals

• ID card or any government-issued photo ID card with 13-digit ID number
   

For foreigners

For more information, please contact any Bangkok Bank branch.

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

 

So, as in the case of immigration offices, our chances of success as foreigners would appear to be entirely dependent on (1) the particular branch we deal with, (2) the individual staff member within that branch we end up speaking to, and (3) most importantly, the side of the bed which said staff member had got out of that morning.

 

 

[pomchop]

23 hours ago, mfd101 said:

An obvious question (that an elderly non-tourist like me might ask) is: Why would a tourist want to open a bank account in a country he or she was visiting?

 

Clearly the BKK Bank shares my puzzlement.

Maybe because the "tourist" want to stay for several months traveling around thailand and would like to bring in cash and  deposit it into a bank rather than hiding in a room safe or having to carry around with them.  Then they can withdraw $$ all over thailand from ATMs and not pay as much in fees especially if want to withdraw small amounts. 

 

I used to do it all the time...had two bank accounts both opened in chiang rai...one kasikorn one bkk bank.  Then covid hit and i did not come for two years so both accounts got closed as no activity and then in pattaya big hassle to open new one or reopen old ones.,..fortunately i have a chas schawb ATM that refunds 100% of ATM fees as well as good exchange rate so problem solved.

[peter zwart]

Get an Agent and it will be done in a couple of days

[sirineou]

On 2/2/2024 at 6:57 PM, george said:

Found this on a Facebook Group today. Is it really crazy with Bangkok Bank now?

When it was time to start doing yearly extensions, we went to (wife and me) to Bangkok Bank where wife had an account for many many years, They were so ridiculous , we got up and walked out,  

We went across the isle where Kasikorn bank has  a branch, they said no problem , but the officer there  does that is not here why don't you go to the main branch in  the city (Khon Kaen ), We did and I had an account in 15 minutes. 

[lkn]

6 hours ago, pomchop said:

Maybe because the "tourist" want to stay for several months traveling around thailand and would like to bring in cash and  deposit it into a bank rather than hiding in a room safe or having to carry around with them.

The alternative to a Thai bank is just your own bank or Wise, no need to withdraw your entire net worth and put in the hotel safe.

Yes, the ATM fee does suck, but if you’re in Thailand for 1-2 months, how many times do you really need to go to the ATM?

Consider OTOH the expenses the bank will have when opening your free basic savings account that you only plan to use for a few months without buying any of their add-on products or services.

I recently spent two months in Japan myself, it never occurred to me that I should open a local bank account to avoid the 220 JPY ATM fee.

[lkn]

17 hours ago, Peterphuket said:

Suppose I want to buy a house in Thailand, I will still have to have a bank account there....

A purchase agreement was among the documents listed as valid reason for a bank account.

[bangkok19]

I opened an account with the Thai Farmers Bank over 40 years ago.

As I was visiting Thailand as a tourist 3 times per year the modest balance I had in the account was a sort've 'back up' in case my travellers cheques ran out . (!!!?)

In the 90's I opened a BKK Bank account for the same reason.

TFB became Kasikorn Bank, I closed that account.

Been using the BKK Bank account regularly since then as I don't have to pay a fee each time I use their ATM's in Thailand.

If I use my Oz cards, there is that 250/300 baht fee plus foreign exchange fee and crappy rate.

I just bring the big green Oz banknotes and change at Vasu and then deposit into BKK Bank.

Weekly withdrawals at BKK Bank ATM's. At the end of each trip there is still money left over in the acc for the next trip.  

 

To sum it up:  it's for convenience, security/safety and prevention of getting ripped off with fees and crappy exchange rates etc.

[Phil Conners]

Tim Newton referred to this post on his Youtube channel today. I'm not sure what are the rules for linking these days, but search for Tim Newton Live *LIVE - Thailand's 'invasion', and all your questions & comments - February 3".  

Essentially his take, which I agree with, was, one thing is the rules, but in reality just keep trying branches until you find one that will open an account for you. TiT as they say. 

Edited February 3 by Phil Conners

[Denim]

I walked into a bank of Ayutthaya branch in Nonthaburi to open an account.

 

No can do. You need work permit , proof of employment Yada Yada Yada.

 

OK...can you recommend another bank where I can deposit this 1 million baht in Travelers cheques ?

 

Wait , I'll  ask manager. Manager comes out and opens an account for me accepting only my passport as proof of ID.

[uttradit]

On 2/2/2024 at 7:18 PM, mfd101 said:

An obvious question (that an elderly non-tourist like me might ask) is: Why would a tourist want to open a bank account in a country he or she was visiting?

 

Clearly the BKK Bank shares my puzzlement.

Not at all. High atm fees. Repeat visitors would be better with a local account.

[uttradit]

4 hours ago, bangkok19 said:

is that 250/300 baht fee plus foreign exchange fee and crappy rate.

220 baht

[uttradit]

5 hours ago, lkn said:

recently spent two months in Japan myself, it never occurred to me that I should open a local bank account to avoid the 220 JPY ATM fee.

It would if you visited 3 times a year.

[uttradit]

21 hours ago, shackleton said:

As all ready mentioned why would a Tourist not staying long in Thailand want to open a bank account 

Most would have money cash wise credit cards available ect 

Why would a regular tourist want to lose 220 baht 3 or 4 times? 

[fceligoj]

It is interesting that the issue is being brought up now.

 

My Thai wife just opened a new account at TTB, which carries a high interest rate.  Because she opened this account, the manager and assistant manager asked to come and visit us.  They had two reasons:  1. they wanted me to transfer my funds I use to maintain my retirement extension to TTB and 2. they wanted to 'sell' life insurance to my wife by explaining to her how if she made a large yearly deposit to the account, the life insurance was free.

 

On my case of transferring my account for maintaining my retirement extension, I said no.

 

On the insurance offering, they explained to my wife the beneficiary had to be a THAI.  TTB did not recognize a foreigner as a 'qualified' beneficiary.  We said an emhatic "NO".

 

The real reason for my response to this thread, they said the current banking regulations require foreigners to only be allowed to open a bank account at the headquarters location of the said bank, that is any bank in Thailand!  If this is true, what a crock!

[JoseThailand]

1 hour ago, Denim said:

I walked into a bank of Ayutthaya branch in Nonthaburi to open an account.

 

No can do. You need work permit , proof of employment Yada Yada Yada.

 

OK...can you recommend another bank where I can deposit this 1 million baht in Travelers cheques ?

 

Wait , I'll  ask manager. Manager comes out and opens an account for me accepting only my passport as proof of ID.

 

Will try this trick

[NoshowJones]

On 2/3/2024 at 8:31 AM, Peterphuket said:

That is not so difficult to answer, you have to start somewhere.
Suppose I want to buy a house in Thailand, I will still have to have a bank account there....
I speak from personal experience many years ago.

I take it you mean a condo. Buying a house needs to be in your wife's/GF's name.

[hotandsticky]

1 minute ago, NoshowJones said:

I take it you mean a condo. Buying a house needs to be in your wife's/GF's name.

 

 

...or a company.

[george]

20 minutes ago, hotandsticky said:

 

 

...or a company.

Illegal ‼️

[pomchop]

12 hours ago, lkn said:

The alternative to a Thai bank is just your own bank or Wise, no need to withdraw your entire net worth and put in the hotel safe.

Yes, the ATM fee does suck, but if you’re in Thailand for 1-2 months, how many times do you really need to go to the ATM?

Consider OTOH the expenses the bank will have when opening your free basic savings account that you only plan to use for a few months without buying any of their add-on products or services.

I recently spent two months in Japan myself, it never occurred to me that I should open a local bank account to avoid the 220 JPY ATM fee.

Yes to each his own.  I spent six months roaming around as a budget traveler and a lot of that was all over thailand.  I certainly did not have room safes and was not keen to have very much cash around.  So I personally found having a Thai account very handy as back then I could withdraw only a thousand baht or so as i needed without having to worry about security of the cash or any fees to speak of.

 

 I was not so worried about a maid or thai stealing my $$ but more so the other farang travelers especially staying in simple little easy to enter bungalows or while i was swimming or whatever so wanted to keep minimal cash around.  Back then using a home country atm had big fees...but now my home  Schwab ATM has no fees and the hotels i stay in are much more secure so no need.

[lkn]

7 hours ago, uttradit said:

Why would a regular tourist want to lose 220 baht 3 or 4 times? 

I hate fees as much as the next guy, but on a vacation budget, 220 baht a few times is really not that much, and it is not like Thailand is an outlier, pretty much all countries put in place hurdles for foreigners to open a bank account.

They do this not only because there are actually expenses for the bank to open an account, but also because of AML/KYC.

Having tourists walk in from the street with nothing but a passport and allow them to open a bank account is definitely going to be abused.

Many of the operations scamming U.S. and Canadian citizens (romance scams, fake tech support, etc.) actually use Thai bank accounts (in addition to gift cards, bitcoins, and local money mules).

I imagine it’s a headache for the bank each time such an account gets flagged, and that is probably why they want you to show a work permit, one year lease, or similar, as just a very basic KYC check.

[lkn]

12 hours ago, bangkok19 said:

there is that 250/300 baht fee plus foreign exchange fee and crappy rate

Crappy rate and foreign exchange fee is not really solved by opening a bank account.

I believe most people use Wise for exchanging money to get the best rate, they have a debit card which you can use in Thailand.

So it really boils down to the ATM fee.

I’m surprised though that no-one has brought up PromptPay, I think that is actually a better reason; if you want t go cashless in Thailand, you need a bank account that support QR payments, as VISA/MasterCard is normally not accepted by smaller/street vendors.

[jaywalker2]

On 2/3/2024 at 6:33 AM, soyaleman said:

I don't believe your nonsense and lie about France (especially) and Japan. Americans cannot easily open accounts outside the U.S. They and their passports are shunned by non-U.S. banks.

Now they are but that's because of FACTA. The US government made reporting requirements for US citizen accounts so onerous that many foreign banks won't open one for you anymore. None of that existed until after 9/11. When I was living in Japan in the 1990's, the Japanese and US tax systems weren't even linked. There was no way the US could check how much money you were making in Japan.

 

However, if you want to open a numbered account (no name) in Panama, no problem.

 

 

[john donson]

On 2/2/2024 at 8:08 PM, BenStark said:

 

This sh*t is going on for years, and not only with Thai banks

• I'm Belgian, on retirement visa for 15 years, and having yellow book and pink card for many years.

Went into SCB bank to open account and was flatly refused because I didn't have work permit. I had SCB account in other branch years ago, which get closed because I didn't use it.

I showed the manager that account book, including all my identifications, but was still refused.

 

In the meantime, I have opened 3 accounts in 3 different SCB branches.

 

I had a similar experience with BKB, but was able to open an account in another branch without problems.

 

• I had a well balanced bank account with a bank in Belgium since 1984. Since I moved to Thailand I only used it for payments in Europe. My official address was with my sister.

2 years ago I, among many others, received a letter from the bank that they wanted to close the account because I lived in Thailand, and I was given 3 months to move my money. Lucky I still had an account with another bank to which I could transfer the balance.

 

Since then I have tried to open an account with other banks, called them gave them my references of family members who have an account with them, but have been unable to open an account with any bank.

 

 

what bank did close your account in Belgium ?

 

KBC is pestering me every year for updates, like immigration

 

still same address

 

 

[BenStark]

5 minutes ago, john donson said:

 

what bank did close your account in Belgium ?

 

KBC is pestering me every year for updates, like immigration

 

still same address

 

 

 

Argenta, but I heard ING did similar

[Peterphuket]

23 hours ago, NoshowJones said:

I take it you mean a condo. Buying a house needs to be in your wife's/GF's name.

Of course, a condo.

[ianguygil]

I will get you the actual requirements from our Consumer Banking people, hopefully with a link to our Website so you can bring this with you.