Foreigners Face New Hurdles in Opening Thai Bank Accounts

[TheFishman1]

Most of these mule accounts they’re looking at are all Thai people they’re not foreigners some scammer gives a guy 500Bht to open an account TIT they’re targeting the wrong people they need to look at themselves

[pomchop]

1 hour ago, Aussie999 said:

You really should not say "They can't in any other country" because it's not true.

some good advice:  never say never and never say always.

[kimothai]

5 hours ago, Jingthing said:

I predict if the agents can resolve this that their fees will go up. 

Ya think?  I'm not sure which is scarier, the increasing prices of agents or the increasing prices of agogo girls/bar fines.  Prices have been going up all along but since COVID it seems that there is a "sky's the limit" attitude here in Thailand.

[Aussie999]

1 hour ago, nomad22 said:

 

It was NAB that I already sighted that will not let anyone with a tourist visa or visitor visa open an account, and they require an Australian address and phone number.......I won't bother looking at the others, because I assume you are wrong about those also.

Mate, hide behind your ignorance, I have already shown everyone you are full of BS .

[stoutfella]

5 hours ago, quake said:

 

What's work ?

 

A FOUR letter word.

[Aussie999]

40 minutes ago, Ben Zioner said:

Well, no I am not overthinking it, but it doesn't need it. Some Thai authority has determined that, to be worth the cost and risks for the country, a foreigner on a one year retirement visa should spend at least 65000 THB a month. And it seems that some can't fulfil this requirement and cheat the system. Zero thinking is needed here, is it?

 

Now when it comes to tourists, 65k is what most of them spend in 3 days. "Think" about it..

That's not the gist of your comment, and is irrelevant to this article...

[Nid_Noi]

10 minutes ago, 818Pilot said:

I’m 100% with you, I see no reason for anyone on a tourist class of Visa, including visa exempt and DTV, to have a bank account. 
 

If people tried getting a bank account in other countries on Tourist they would be laughed out of the bank

Not true. Visitors can open bank accounts in the US, Canada, France, Spain, etc...Like I said banks don't like dormant accounts so they may require a minimum of deposits and withdrawals to cover their fees.

[Captain Flack]

Some flame posts have been removed.

 

@damo1967 stop the abusive personal attacks or accept a time out.

 

Rule 9. You will not post disruptive or inflammatory messages. You will respect other members and post in a civil manner. Personal attacks, insults or hate speech posted on the  forum or sent by private message are not allowed.

[newbee2022]

8 hours ago, webfact said:

Picture courtesy: Royal Vacation

 

Foreign nationals in Thailand are encountering increased difficulties when trying to open bank accounts, following a new crackdown aimed at combating financial crime. This development is part of a broader initiative by the Thai government, led by the Bank of Thailand, targeting mule accounts linked to fraud and money laundering activities.

 

Starting February 17, even foreigners applying for bank accounts required for visas, such as the Destination Thailand Visa or the non-immigrant "O" retirement permit, face potential challenges. Popular agencies in places like Jomtien have announced they can no longer assist foreigners in opening accounts until the situation stabilises.

 

The Thai authorities have been vigorous in their campaign, freezing approximately 1.8 million accounts and arresting 2,500 individuals over the past year. Attention is now directed towards telecommunication companies, digital platform operators, and consumers suspected of facilitating financial crimes.

 

This crackdown aligns with the Thai government’s efforts to dismantle scam call centres, particularly those operating from Myanmar and Cambodia. Measures, such as cutting off electricity to certain regions, have had limited impact.

 

There’s also an ongoing initiative to ensure that Thai mobile banking accounts are registered under the actual SIM card owner's name, which has caused complications for some, including foreigners using bank accounts in their spouse’s name or linked to corporate accounts, writes Barry Kenyon for Pattaya Mail.

 

Currently, there's no official ban on opening new accounts, but banks are exercising caution. Many are rejecting applicants citing ambiguous intentions, affecting tourists and others holding short-term visas. Banks are also empowered to suspend existing accounts suspected of being involved in money laundering or other illicit activities.

 

While necessary for addressing financial crime, this sweep has inadvertently complicated matters for legitimate foreign account holders. Observers argue for a more precise strategy targeting criminals without widespread account freezes, which are creating more problems than solutions.

 

Until banks and authorities clarify requirements and streamline processes, foreign nationals and businesses are advised to prepare for possible banking disruptions during this challenging period. Patience and resilience will be key as regulations evolve in Thailand's dynamic financial landscape.

 

-- 2025-02-17

 

 

No accounts for riffraff 🤗

[jimn]

8 hours ago, flyingtlger said:

Each and every day, Thailand is looking like a bad place to work or retire.....

 

Nonsense. Money laundering is a serious crime. There are many many fake businesses over here and some legitimate ones that purely operate as a means to launder money. The authorities need to be applauded for trying to do something about it. Your throw away comment does nothing other than making you look stupid.

[Smithy276]

Keep only minimum needed money in any Thai bank account regardless of how it was opened. They can freeze your account at anytime for any reason or no reason and you will have a really hard job getting your money back. 

[1happykamper]

8 hours ago, HappyExpat57 said:

In all fairness, the agents who have been assisting retirees without seasoned money in the bank have been performing an illegal act. The law to have the 800k in the bank was meant to keep riff raff out.

 

I have several friends in the Jomtien area who have used these agents for years. They are real decent folk, not troublemakers in the least - the kind of people you WANT living in Thailand, spending their money supporting the local economy.

 

Sadly, the law is the law. I hope they aren't forced to leave LOS. The place will be a little worse off if they are.

Happy expat? 🤣🤣🤣🤣🤣 Oh come on. Just say it.... Rich expat who can't stand poorer expats close to them. NOT COOL

 

So if opt to not add 800k to my Thai bank account that makes me a less desirable expat? That's a terrible gauge of ethics and morality. Just ask any Russian or Chinese mafia types or other true low life criminals that arrive in LOS. 

[Ben Zioner]

28 minutes ago, Aussie999 said:

That's not the gist of your comment, and is irrelevant to this article...

That was exactly my comment. But seeing the arrogance of some of your replies to other poster.. bye.

[kiwikeith]

5 hours ago, LivingNThailand said:

You can't get a retirement extension (visa) or a 90-day Non-O without 800,000 THB in the bank.  And you can't open a bank account without a visa.   How does this work?

Possibly a letter from Immigration 

[new2here]

I would set up so that those holding visas like the DTV and various Non-Os (that require a local bank account) would be eligible to open an account at either SCB or Krungthai (because of their relationship with the national government) despite not holding a WP (which tends to be the key document many banks want)

 

That way, Immigration would know that an account opened at SCB or Krungthai meets the requirements for type of account necessary .. AND the applicant would be able to open said account at a branch of SCB/Krungthai, by virtue of their holding said DTV or NON-On visa  without the need/hassle of an “agent” or similar 3rd party. 

 

Both banks have a sufficient national footprint as far as physical branches goes and both are ATM “pool” participants.. So account access shouldn’t be a major issue.

 

By limiting this to only 2 banks, it makes it easier for the regulators to make sure accounts are opened only for legitimate purposes and for those whose identity is confirmed.

[Nicholas Paul KNIGHT]

To the doom talkers and the uneducated, if your actually read what is happening and as in so many things here it is not necessarily what is said , it is what is not said. 

 I believe those who monthly or whenever dep[osit into Thai banks living expenses and occasionally larger sums to covers costs of houses, cars etc and CAN PROVE where the money is coming from , they would probably have zero p[robl;ems. However those who frequi8ently deposit large sums without necessarily advising from where the funds come from are a red flag to an already over policed system which has been abused over the p[ast few decades and thanks to computerisation now becoming visible .

My bank forwards money and it requests reasons and what the payment is pension etc.  

 

Nothing whatsoever to do with THE Visa process . So pull in your necks and make sure your payments into the country are unambiguously clear  

[Dart12]

3 hours ago, CallumWK said:

 

It are the banks.

I am here more than 30 years, and on a retirement extension.

I have had a savings account at TTB for decades. A few months ago I tried to open a fixed term account.

Sorry, people on retirement visa can not open bank accounts anymore.

Been to multiple branches, and everywhere the same answer.

I started a topic about this, where others confirmed the same situation.

You think nothing has changed?

you can’t open a bank account if you have a long-term retirement visa now?

 

 You have link to your other thread you can share please.?

[Cabradelmar]

Necessary, really. People showing up without the correct visa type (long stay visa) been opening accounts too easily for too long. But as is typical in Thailand, now the classic overcorrection snags even the legit long stay visa holders. 

[dutch boy]

8 hours ago, HappyExpat57 said:

In all fairness, the agents who have been assisting retirees without seasoned money in the bank have been performing an illegal act. The law to have the 800k in the bank was meant to keep riff raff out.

 

I have several friends in the Jomtien area who have used these agents for years. They are real decent folk, not troublemakers in the least - the kind of people you WANT living in Thailand, spending their money supporting the local economy.

 

Sadly, the law is the law. I hope they aren't forced to leave LOS. The place will be a little worse off if they are.

I do not live in Jomtien but I also take advantage of these agents. I never do a 90 day report or keep 800K in my Thailand bank account. Not because I do not have the money but because I would rather invest it in my home country. I used to be a good dutch boy, for many years, but have become jaded by the hypocrisy of the Thai society.

[Dogmatix]

Try opening an account in the UK as a non-permanent resident or even a UK citizen without a permanent address in the UK you can verify.

[Yumthai]

7 minutes ago, Cabradelmar said:

Necessary, really. People showing up without the correct visa type (long stay visa) been opening accounts too easily for too long.

Nonsensical. People who meet the requirements to get a non-O visa + yearly extensions are those who intend and are legally able to live continuously in Thailand as long as their yearly permission of stay is valid. The visa should be the only necessary requirement to open a bank account since requirements to live in the country have already been checked and met.

[black tabby12345]

3 hours ago, proton said:

 

 there is the loophole that allows them to over look the needed funds, 

 

One biggest (untold)  loophole.

It is the fact that they don't question(or turn over) other bureaucrats' decision.

As long as that extension stamp itself is genuine(not counterfeited), they can't find fault with that.

 

I know someone who had his retirement o extended outside regular cycle through visa broker(in 2015): He said that the agent told him  further extension might not be available due to military regime's crackdown on visa cheat. And  he believed it, asked them to have extended it at otherwise wrong time.

 

When he came back to Thailand from the neighboring country, he was stopped at the point of re-entry.

Once the immigration man saw red(finding out he is cheating), but eventually allowed in.

And his subsequent extension has never been affected by that incident at that border...

 

[Letseng]

6 hours ago, Karma80 said:

I fail to see the uproar. Why should a tourist be able to open a bank account? They can't in any other country.

Get a proper long term visa and you can walk into any bank in person with legit ID and open it. DTV isn't a long term visa and some people need to get over that. 

10 yrs ago, after having been here already 10 yrs I needed to supply a bank reference from my overseas bank before Bangkok Bank opened an account for a retirement visa. Other banks insisted on a work permit. Agreed, some branches were more helpful going by feedback.

[baansgr]

7 hours ago, ChrisY1 said:

We would probably be surprised just how many used the "under the table" visa. In fact..it's openly promoted by the Immigration police.

Those that have 800k are in the same boat as those that use agents...nothing to do with immigration, all to do with banking...sorry guys, not even your 800k can buy you outa this one

[goldenbrwn1]

That’s it then , no more tourist visa bank account openings or having large sums of money go through your bank without transparency.  You know Thailand and its government officials , they are stickler for the rules and when they say they are going to do something they 💯 do it.  It’s crazy to think all these Western banking rules coming here now and the City of London launders 40% of the world’s illicit money ….ridiculous 

[Marco100]

Maybe is not that smart to openly write about certain short cuts on this thread , just saying .... 

[Bday Prang]

6 hours ago, LivingNThailand said:

You can't get a retirement extension (visa) or a 90-day Non-O without 800,000 THB in the bank.  And you can't open a bank account without a visa.   How does this work?

you can get a 90 day  non O in your own country without a Thai bank account and use that to open an account o your arrival here.    Not that difficult in theory at least 

[baansgr]

1 hour ago, Aussie999 said:

That's not the gist of your comment, and is irrelevant to this article...

40k if married 👍 

[HappyExpat57]

1 hour ago, 1happykamper said:

Happy expat? 🤣🤣🤣🤣🤣 Oh come on. Just say it.... Rich expat who can't stand poorer expats close to them. NOT COOL

 

So if opt to not add 800k to my Thai bank account that makes me a less desirable expat? That's a terrible gauge of ethics and morality. Just ask any Russian or Chinese mafia types or other true low life criminals that arrive in LOS. 

If that's what you really think, then you just prove there are more horses' asses than horses in Thailand. Just a sickening post.

[StevieAus]

9 hours ago, nomad22 said:

 

Anywhere outside your home country you will have the same problem opening a bank account.  These banking laws were forced on Thailand by western countries, and every country in the world that wants to be part of the international banking community has the follow the same rules.

You can have problems with your own country if you no longer reside there but still hold bank accounts.

My Thai wife and I both hold accounts in Australia and every two years or so I am required to provide two certified documents proving my identity, my wife who also holds Australian citizenship got her demand last week.

9 hours ago, nomad22 said:

 

Anywhere outside your home country you will have the same problem opening a bank account.  These banking laws were forced on Thailand by western countries, and every country in the world that wants to be part of the international banking community has the follow the same rules.