Opening Thai bank account using an agent.

[Finspin]

I’m arriving to Thailand in August on a tourist visa with the intention of obtaining a long term retirement visa.

I need a Thai bank account to hold the 800,000k for retirement purposes. I also need a day to day account with online 

access plus a debit card.

Decided to use an agent to assist me. I’m happy to pay her fees ( she needs to make a living )

however she has bounced some numbers at me that cause me some concern.

What is the going rate for such a service.

Many thanks in advance 

[Mike Lister]

When you arrive, go into a large branch of Bangkok Bank in Bangkok and tell them what you want to do and why and I don't think you will have a problem, there's not need to use an agent.

 

If you do have problems, there is a forum member who is senior in Bangkok Bank and will no doubt be able to assist.

.

[Everyman]

Three to five thousand baht. Shop around and you might be able to get it for two. 

[Finspin]

Thanks for the info

I’ll be heading straight to jomtien upon touchdown.

I known this lady agent from previous condo rentals.

she was lovely and very helpful when I had an issue on my last visit.

I’m getting the feeling she think I’m stupid with more money than sense.

again thank you

[richard_smith237]

Perhaps try to get an account by yourself first ???…..  

 

A number of posters find success with a little trail & error….  (Maybe some can name a more accommodating branch in Jomtien). 
 

If that fails, you could then revert to the agent option as a plan B. 
 

 

 

[KhunHeineken]

Can you clarify? 

 

Do you just want a bank account, or a bank account and to move from a 30 day visa exemption stamp to a retirement visa? 

 

Most agents offer both services, but to go from a 30 visa exemption stamp to a retirement visa, in country, does cost a bit. 

[bkk6060]

I certainly disagree you can just walk into Bangkok Bank or any bank and open an account on a tourist Visa.  Maybe years ago.  But now, they mostly want supporting documents such as letters of reference, certificate of residency, work permit, rental agreement and possibly some other requirements.  Maybe one can get lucky and the bank will accept you as some branches have different requirements.

I got my account years ago using an agent.  Worth the cost for a no hassle way to open an account.

[DrJoy]

6 hours ago, Finspin said:

day to day account with online 

access

If you're talking about internet banking then only Kasikorn Bank provides it

[soi3eddie]

6,000 Baht is the going rate to open a Bangkok Bank account using an agent in Pattaya. I know several farangs who did this on a tourist visa in the last couple of years. Including my GF who is not Thai. If you can get it for cheaper then consider it a win. Maybe they will do a discounted package if combining with driving licences and visa/extension.

 

[kickstart]

2 hours ago, DrJoy said:

If you're talking about internet banking then only Kasikorn Bank provides it

SCB has an internet account, I have one ,as well as a Kesikorn account,the Kasikorn internet account is a lot better .

How things have changed, I opened my SCB account a lot of years ago with a photo copy of my passport and 200 baht, job done.

As has been said, different banks have different rules, why not go round all the banks and see what they say.

What I can not understand if an agent can open a bank account in a farangs name why can't a farang open an account himself, or, do banks take brown envelops?

[Lorry]

29 minutes ago, kickstart said:

do banks take brown envelops?

This would never happen in Thailand

[bamnutsak]

13 hours ago, Finspin said:

however she has bounced some numbers at me that cause me some concern.

 

What numbers has she bounced your way?

 

What amount meets your level of "concern"?

 

Does this figure include the first year of insurance, which many bank employees are incentivized to pedal.

 

Two accounts, a debit card and online access (web/pc where available, and mobile app) is a premier-level "package". I could see that costing 10 ~ 15k with insurance.

 

You can perform a search where you will find quite a bit of detail on the oft-asked question. Also check Reddit and FB pages. Base level packages, one account, seem to run ~ 5,500 before any hidden fees or uplift. Assume you have to pay VAT (7%) for this service.

 

 

[gamb00ler]

8 hours ago, DrJoy said:

If you're talking about internet banking then only Kasikorn Bank provides it

Oh my gosh... these hallucinations are getting so real!

[Upnotover]

6 hours ago, kickstart said:

What I can not understand if an agent can open a bank account in a farangs name why can't a farang open an account himself, or, do banks take brown envelops?

Of course they do.

[gamb00ler]

15 hours ago, Mike Lister said:

When you arrive, go into a large branch of Bangkok Bank in Bangkok and tell them what you want to do and why and I don't think you will have a problem, there's not need to use an agent.

 

If you do have problems, there is a forum member who is senior in Bangkok Bank and will no doubt be able to assist.

Perhaps take some supporting printout or picture from Thai Immigration showing the financial requirements for getting a retirement extension.  Try to include the Immigration logo in a picture.  I know CM Immigration has posters on the wall showing the requirements... take along a picture of the appropriate poster.

[KhunHeineken]

1 hour ago, gamb00ler said:

Oh my gosh... these hallucinations are getting so real!

I think the member meant "online account" and not internet banking. 

[Finspin]

Thank you all for your replies… to enlarge further

i arrived in August on 60 day tourist visa, will obtain additional 30 extension at Jomtien. After which I intend to apply for a retirement visa.

The financial requirements for the retirement visa I already have in my wise account. I also intend to deposit a monthly amount, likely in excess of 65k per month.

so I need a Thai bank account to hold the 800k, which I will not touch.

I then need an account for the monthly deposit for my day to day living expenses, rent, food, entertainment etc. as such that account I would access to an app in English for both my iPad and phone, also a physical debit card.

The agent has quoted 10k, 12k, and 7k

Talking to long term expats, although their stories varied, it’s was in the region of 5.5k some with unwanted insurance, others with not.

After challenging the agent ( in a polite manner ) she stated the sums quoted were the bank charges not hers.

Thailand banks I’m sure have charges, service fees etc, but I’m sure they are not that high.

i just feel that the agent is gilding the lily somewhat in her favour.

She is a small outfit and I’m happy to help her earn a living, but not if she is taking the pi$$

 

[Mike Lister]

1 minute ago, Finspin said:

Thank you all for your replies… to enlarge further

i arrived in August on 60 day tourist visa, will obtain additional 30 extension at Jomtien. After which I intend to apply for a retirement visa.

The financial requirements for the retirement visa I already have in my wise account. I also intend to deposit a monthly amount, likely in excess of 65k per month.

so I need a Thai bank account to hold the 800k, which I will not touch.

I then need an account for the monthly deposit for my day to day living expenses, rent, food, entertainment etc. as such that account I would access to an app in English for both my iPad and phone, also a physical debit card.

The agent has quoted 10k, 12k, and 7k

Talking to long term expats, although their stories varied, it’s was in the region of 5.5k some with unwanted insurance, others with not.

After challenging the agent ( in a polite manner ) she stated the sums quoted were the bank charges not hers.

Thailand banks I’m sure have charges, service fees etc, but I’m sure they are not that high.

i just feel that the agent is gilding the lily somewhat in her favour.

She is a small outfit and I’m happy to help her earn a living, but not if she is taking the pi$$

 

She's taking the pi$$, banks don't levy those charges.

 

You 've been given cost free options, you must do what your are most comfortable with.

[richard_smith237]

13 hours ago, kickstart said:

SCB has an internet account, I have one

 

'Internet account' ?? 

 

SCB stopped their Online Banking Service approximately 1 year ago (so you can't do online banking via a laptop and Webpage).

 

SCB now only have the App that you can use on your Phone for Mobile Banking (mBanking)

[No Forwarding Address]

2 minutes ago, richard_smith237 said:

 

'Internet account' ?? 

 

SCB stopped their Online Banking Service approximately 1 year ago (so you can't do online banking via a laptop and Webpage).

 

SCB now only have the App that you can use on your Phone for Mobile Banking (mBanking)

There lies the problem, I have had an SCB account for almost 25 years, was able to check balance from anywhere on-line, now they only do this via smart phone app............I don't use my phone for any, any, financial transactions, so can't check my balances and monthly bill payer anymore.........before the naysayers come on, I have been a quasi IT Scty enthusiast for 30 odd years, and just plain don't trust Cell phone transactions.🤔🤔

[richard_smith237]

11 minutes ago, No Forwarding Address said:

There lies the problem, I have had an SCB account for almost 25 years, was able to check balance from anywhere on-line, now they only do this via smart phone app............I don't use my phone for any, any, financial transactions, so can't check my balances and monthly bill payer anymore.........before the naysayers come on, I have been a quasi IT Scty enthusiast for 30 odd years, and just plain don't trust Cell phone transactions.🤔🤔

 

SCB removed their online Banking because it was not as secure. Moving forwards with the times means adapting to mBanking....   That said, SCB should have just added tier authentication to make their online platform more secure (just as international Banks do with their OLB).

 

Mobile Banking is as secure as Internet Banking is (in fact the mBanking is a lot more secure that the Thai Internet Banking - particularly SCB's which only needed a Log in and Password - it didn't even have two tier authentication).

 

That said - I don't like to have 'everything on my phone' that I'm carrying around daily - not through fear of getting hacked etc or theft and thieves can access my account - I can wipe my phone within minutes of it being lost.

 

Instead, the issue is getting all through all security to set up the apps again on a new device.

 

I've considered getting a 'second' phone for all the financial bigger financial stuff (overseas accounts / crypto etc)... and keeping the 'user phone' with one Bank account (smaller amount) to use locally.

 

 

[Mike Lister]

The op may wish to discuss this matter with @ianguygil who works in a senior capacity at Bangkok Bank. Ian has been instrumental in helping forum members with account issues at the bank, for many years. You might want to ask Ian how much the bank charges for assisted account opening!

[jas007]

At this point, I’d happily use an agent to open an account if I didn’t already have one.  The cost seems reasonable, and it would be preferable to running around from bank to bank trying to find one that would open an account. 

[Mike Lister]

7 minutes ago, jas007 said:

At this point, I’d happily use an agent to open an account if I didn’t already have one.  The cost seems reasonable, and it would be preferable to running around from bank to bank trying to find one that would open an account. 

Paying agents for things like this just promotes and endorses corruption, it's stupid.

[jas007]

I wouldn’t call it “corruption.”  The agent is performing a service.  The agent deserves to be paid for that service.  Anyway, no one is forcing anyone to use an agent.  If you have all day to run around, do it yourself.  Maybe you’ll be successful, or maybe not.

[Doctor Tom]

On 6/13/2024 at 5:25 PM, Finspin said:

Thanks for the info

I’ll be heading straight to jomtien upon touchdown.

I known this lady agent from previous condo rentals.

she was lovely and very helpful when I had an issue on my last visit.

I’m getting the feeling she think I’m stupid with more money than sense.

again thank you

Try SCB in Big C South. Take passport and a proof of where you are staying in Jomtien.  They are pretty accommodating.  No need to pay an agent. 

[Mike Lister]

1 minute ago, jas007 said:

I wouldn’t call it “corruption.”  The agent is performing a service.  The agent deserves to be paid for that service.  Anyway, no one is forcing anyone to use an agent.  If you have all day to run around, do it yourself.  Maybe you’ll be successful, or maybe not.

Who exactly do you think receives that money that is paid to open the account? It certainly isn't Bangkok Bank because they don't levy a fee under any circumstances. That fee is split between the branch person who opens the account and the agent. If the branch staff is willing to act as a facilitator for a small fee, what other nefarious acts is she also likely to be willing to engage in, with your account!

[richard_smith237]

4 minutes ago, Mike Lister said:

Who exactly do you think receives that money that is paid to open the account? It certainly isn't Bangkok Bank because they don't levy a fee under any circumstances. That fee is split between the branch person who opens the account and the agent. If the branch staff is willing to act as a facilitator for a small fee, what other nefarious acts is she also likely to be willing to engage in, with your account!

 

The same nefarious acts 'some' Thai Bank employee's have been carrying out for years, as we have seen in the headlines...     'our account' (or the Ops account) is no different from anyone else's... Bank Employee's could still act fraudulently...    there's not much we can do to avoid that however our account is opened. 

[Mike Lister]

5 minutes ago, richard_smith237 said:

 

The same nefarious acts 'some' Thai Bank employee's have been carrying out for years, as we have seen in the headlines...     'our account' (or the Ops account) is no different from anyone else's... Bank Employee's could still act fraudulently...    there's not much we can do to avoid that however our account is opened. 

Paying for this sort of things just legitimises that it's OK for bank staff to act in this way and endorses that we all think it's OK for them to monetise us. I don't.

 

The other point I find mildly irritating about this is that the OP has gone straight to an agent, without even trying the branches that have been recommended or the solutions suggested. In his mind, an agent is the defacto solution, which it isn't and can't possibly be.

[Seppius]

6 hours ago, Finspin said:

Thank you all for your replies… to enlarge further

i arrived in August on 60 day tourist visa, will obtain additional 30 extension at Jomtien. After which I intend to apply for a retirement visa.

The financial requirements for the retirement visa I already have in my wise account. I also intend to deposit a monthly amount, likely in excess of 65k per month.

so I need a Thai bank account to hold the 800k, which I will not touch.

I then need an account for the monthly deposit for my day to day living expenses, rent, food, entertainment etc. as such that account I would access to an app in English for both my iPad and phone, also a physical debit card.

The agent has quoted 10k, 12k, and 7k

Talking to long term expats, although their stories varied, it’s was in the region of 5.5k some with unwanted insurance, others with not.

After challenging the agent ( in a polite manner ) she stated the sums quoted were the bank charges not hers.

Thailand banks I’m sure have charges, service fees etc, but I’m sure they are not that high.

i just feel that the agent is gilding the lily somewhat in her favour.

She is a small outfit and I’m happy to help her earn a living, but not if she is taking the pi$$

 

In Pattaya only use this agent, 100% you will pay the going rate

 

 

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