Future Uncertain for Retiree Bank Accounts in Thailand

[StandardIssue]

As is usual YOUR MILEAGE MAY VARY in all business done in Thailand. One of the downsides to long term staying. I'll start complaining when they drop some bomb that existing accounts may be frozen if the holder doesn't make a regular report, deposit, withdrawal or stool sample.

One things for certain. Things will continue to change and not in favor on the long stay expat.

Has there been any good news lately concerning expats wishing long stay in LOS?

I've not seen it.

[samtam]

3 hours ago, ronnie50 said:

I seem to recall the banks had no facility to do the face recognition for foreigners (because they could only enter Thai ID numbers, not passports into their facial recognition system). Maybe they worked it out. Dunno.

 

I did mine three times. First time at Krungsri head office about 2 years ago. The machine was not working. Did it a second time at another branch a few months later. Did it with UOB last year. Both times using my passport, although the UOB staff did not know how to use the passport reader. In the end about 4 branch staff completed the massive banking arrangement that they had asked me to do. It is required to transfer over THB50K.

 

 

2 hours ago, jaywalker2 said:

Well, there was a new charge of 100 baht right after I updated the passbook. I don't know what else it could have been for. And it's the first time I've experienced it too but before there were always update machines with the ATMS. Not anymore.

 

I guess you didn't ask, or read the 2 or 3 letter narrative, such as "SC" = Service Charge, or "FCD" = Cash Deposit via Cash Deposit Machine. (Glossary of abbreviations usually in the back of your passbook.) 

[sabaijai]

5 hours ago, smedly said:

speaking of Thai banks and charges, I used a QR payment from Bangkok bank the other day to pay for a 250baht bar bill (just to try it out) well it worked ok but I was charged 15baht for the pleasure, Thai people think cashless is something to brag about, they may need to think again if banks are going to charge like this for every transaction and it might be 15baht now  (which IMO should be free)  but when you have no option for cash these charges are going to go up because you will simply have no alternative, the banks really will have you by the $$$$$.  I am personally 100% against cashless - there is only one winner  and it ain't us. 

  

 

I've never been charged a fee for payment by QR scan at Bangkok Bank. 

[ross163103]

One of the reasons I keep ALL my bank accounts open that I have in Thailand, even if there's an insignificant amount in them. I was going to close one or two of them since I hadn't used them in years but the manager at the branch told me better to keep them going as it's going to be harder in the future for farangs to open accounts.....she was right.

[WDSmart]

I currently have three bank accounts: two with one bank and one with another. The rules regarding changing things on them have become more strict now. For example, to get a new bank book, if mine is full, I have to go to the bank, bring my passport, and have my photo taken (again). But other than that, I've had no difficulty maintaining and accessing all three of these accounts. 

[arick]

6 hours ago, smedly said:

speaking of Thai banks and charges, I used a QR payment from Bangkok bank the other day to pay for a 250baht bar bill (just to try it out) well it worked ok but I was charged 15baht for the pleasure, Thai people think cashless is something to brag about, they may need to think again if banks are going to charge like this for every transaction and it might be 15baht now  (which IMO should be free)  but when you have no option for cash these charges are going to go up because you will simply have no alternative, the banks really will have you by the $$$$$.  I am personally 100% against cashless - there is only one winner  and it ain't us. 

I pay cardless with my Bangkok Bank and I never get charged any money

[Thingamabob]

Much verbage about very little. Move on...

[Surasak]

6 hours ago, smedly said:

speaking of Thai banks and charges, I used a QR payment from Bangkok bank the other day to pay for a 250baht bar bill (just to try it out) well it worked ok but I was charged 15baht for the pleasure, Thai people think cashless is something to brag about, they may need to think again if banks are going to charge like this for every transaction and it might be 15baht now  (which IMO should be free)  but when you have no option for cash these charges are going to go up because you will simply have no alternative, the banks really will have you by the $$$$$.  I am personally 100% against cashless - there is only one winner  and it ain't us. 

You may be having a problem with Bangkok Bank? I can say however,  I have no such problems with my KTB and K bank regarding charges for paying via QR code. Was it the venue or the bank which made the charge?

[kiwikeith]

6 hours ago, smedly said:

speaking of Thai banks and charges, I used a QR payment from Bangkok bank the other day to pay for a 250baht bar bill (just to try it out) well it worked ok but I was charged 15baht for the pleasure, Thai people think cashless is something to brag about, they may need to think again if banks are going to charge like this for every transaction and it might be 15baht now  (which IMO should be free)  but when you have no option for cash these charges are going to go up because you will simply have no alternative, the banks really will have you by the $$$$$.  I am personally 100% against cashless - there is only one winner  and it ain't us. 

I would bet on cashless society in Thailand never happening, it would cause poverty and riots, imagine all the people with food stalls having to take phone payments, and the street vendors over all the roads in LOS, not to mention the brown bag donation scheme. and theres plenty more I haven't mentioned.

Will never happen

[Wake Up1]

6 hours ago, ravip said:

 

I thought as much.

But, why was the OP charged 15 Bhat for a 250 Bhat transaction?

He was probably out of his province. Out of province atm fees are 15 or 20 baht. Out of province bank deposits are 15 baht. So out of province cashless transfers are similar to atm withdrawals with a 15 baht fee. 
 

 

[Surasak]

4 hours ago, actonion said:

I have a Siam Commercial Bank account with a Debit card..Does anyone know  why i can use this card in several shops  in Pattaya  to pay my shopping bills  BUT places like    Travel agents, Car dealerships, some,  but not all Restaurants charge 2 or 3% for using this card, when i ask why they charge a percentage they tell me  its because   the Banks charge them, I question the Bank  the lady shrugs her shoulders...

I believe the banks do charge when a debit card is produced. Many of the bigger outlets absorb this % charge. Many of the smaller outlets can't afford to do that.

[jas007]

10 hours ago, webfact said:

AN composite for reference only

 

ANALYSIS

 

While most tourists in Thailand enjoy their holidays without needing a bank account, some are encountering difficulties when trying to open one.

 

Currently, there is no outright ban on Thai banks opening accounts for foreign nationals. Still, recent government efforts to curb call centre scams and the volatile cryptocurrency market have posed significant challenges.

 

New regulations slated for April 2025 will require biometric authentication, like facial recognition, for opening accounts. Each account will also need to be linked to a single registered device.

 

These rules may aid short-term tourists in opening accounts if they can show valid reasons, such as property purchases or applying for long-term visas.

 

For those facing hurdles, alternatives exist. Some embassies continue to offer income verification, even if funds are not transferred to Thailand, and may issue letters of guarantee for various nationalities.

 

Wealthier expats can explore visa options like the Elite or Long-Term Residence visas, which don't initially demand Thai bank accounts.

 

The Destination Thailand Visa, available at select embassies, offers multiple ways to prove the required 500,000 baht (approximately £12,000). Each visa has pros and cons, so personal research is key.

 

For a temporary solution, a border run might suffice. This allows a visa-exempt entry for 60 days, extendable by 30 days at local immigration for 1,900 baht (around £45) with proper paperwork.

 

However, ensure compliance with address registration (TM30) and 90-day notifications (TM47) to avoid fines. Although not a long-term strategy, it can be a stopgap while awaiting clearer banking policies.

 

Looking ahead, other government agencies could confirm expat income. Registering with the Thai Revenue Department (TRD) and submitting tax returns on overseas transfers might provide receipts that help open bank accounts. These receipts include official government logos, offering credible documentation.

 

Not all expats need to report to the TRD. Those who find it necessary to get a tax ID for overseas transfers may find this approach viable for obtaining a Thai bank account.

 

The retiree permit system, particularly the "O" non-immigrant visa with annual extensions, has stayed largely unchanged for 30 years, except for increased cash requirements. Given the changing landscape, assuming it will remain the same for decades is likely optimistic, writes  Barry Kenyon for Pattaya Mail.

 

-- 2025-02-19

 

 

Taken to its logical conclusion, this seems to suggest that there will be no more retirees on any kind of O visa requiring money in a bank.  Is that the desired outcome, I wonder?

[soalbundy]

10 hours ago, webfact said:

AN composite for reference only

 

ANALYSIS

 

While most tourists in Thailand enjoy their holidays without needing a bank account, some are encountering difficulties when trying to open one.

 

Currently, there is no outright ban on Thai banks opening accounts for foreign nationals. Still, recent government efforts to curb call centre scams and the volatile cryptocurrency market have posed significant challenges.

 

New regulations slated for April 2025 will require biometric authentication, like facial recognition, for opening accounts. Each account will also need to be linked to a single registered device.

 

These rules may aid short-term tourists in opening accounts if they can show valid reasons, such as property purchases or applying for long-term visas.

 

For those facing hurdles, alternatives exist. Some embassies continue to offer income verification, even if funds are not transferred to Thailand, and may issue letters of guarantee for various nationalities.

 

Wealthier expats can explore visa options like the Elite or Long-Term Residence visas, which don't initially demand Thai bank accounts.

 

The Destination Thailand Visa, available at select embassies, offers multiple ways to prove the required 500,000 baht (approximately £12,000). Each visa has pros and cons, so personal research is key.

 

For a temporary solution, a border run might suffice. This allows a visa-exempt entry for 60 days, extendable by 30 days at local immigration for 1,900 baht (around £45) with proper paperwork.

 

However, ensure compliance with address registration (TM30) and 90-day notifications (TM47) to avoid fines. Although not a long-term strategy, it can be a stopgap while awaiting clearer banking policies.

 

Looking ahead, other government agencies could confirm expat income. Registering with the Thai Revenue Department (TRD) and submitting tax returns on overseas transfers might provide receipts that help open bank accounts. These receipts include official government logos, offering credible documentation.

 

Not all expats need to report to the TRD. Those who find it necessary to get a tax ID for overseas transfers may find this approach viable for obtaining a Thai bank account.

 

The retiree permit system, particularly the "O" non-immigrant visa with annual extensions, has stayed largely unchanged for 30 years, except for increased cash requirements. Given the changing landscape, assuming it will remain the same for decades is likely optimistic, writes  Barry Kenyon for Pattaya Mail.

 

-- 2025-02-19

 

 

What has the non 0 visa retirement system got to do with possible bank account problems and why should this change? Barry Kenyan offers only his own speculation. I went to BBK a few days ago for an end of year statement, nothing was mentioned about changes to an existing account which I have had for 19 years.

[soalbundy]

10 hours ago, webfact said:

AN composite for reference only

 

ANALYSIS

 

While most tourists in Thailand enjoy their holidays without needing a bank account, some are encountering difficulties when trying to open one.

 

Currently, there is no outright ban on Thai banks opening accounts for foreign nationals. Still, recent government efforts to curb call centre scams and the volatile cryptocurrency market have posed significant challenges.

 

New regulations slated for April 2025 will require biometric authentication, like facial recognition, for opening accounts. Each account will also need to be linked to a single registered device.

 

These rules may aid short-term tourists in opening accounts if they can show valid reasons, such as property purchases or applying for long-term visas.

 

For those facing hurdles, alternatives exist. Some embassies continue to offer income verification, even if funds are not transferred to Thailand, and may issue letters of guarantee for various nationalities.

 

Wealthier expats can explore visa options like the Elite or Long-Term Residence visas, which don't initially demand Thai bank accounts.

 

The Destination Thailand Visa, available at select embassies, offers multiple ways to prove the required 500,000 baht (approximately £12,000). Each visa has pros and cons, so personal research is key.

 

For a temporary solution, a border run might suffice. This allows a visa-exempt entry for 60 days, extendable by 30 days at local immigration for 1,900 baht (around £45) with proper paperwork.

 

However, ensure compliance with address registration (TM30) and 90-day notifications (TM47) to avoid fines. Although not a long-term strategy, it can be a stopgap while awaiting clearer banking policies.

 

Looking ahead, other government agencies could confirm expat income. Registering with the Thai Revenue Department (TRD) and submitting tax returns on overseas transfers might provide receipts that help open bank accounts. These receipts include official government logos, offering credible documentation.

 

Not all expats need to report to the TRD. Those who find it necessary to get a tax ID for overseas transfers may find this approach viable for obtaining a Thai bank account.

 

The retiree permit system, particularly the "O" non-immigrant visa with annual extensions, has stayed largely unchanged for 30 years, except for increased cash requirements. Given the changing landscape, assuming it will remain the same for decades is likely optimistic, writes  Barry Kenyon for Pattaya Mail.

 

-- 2025-02-19

 

 

What has the non 0 visa retirement system got to do with possible bank account problems and why should this change? Barry Kenyan offers only his own speculation. I went to BBK a few days ago for an end of year statement, nothing was mentioned about changes to an existing account which I have had for 19 years.

[soalbundy]

10 hours ago, webfact said:

AN composite for reference only

 

ANALYSIS

 

While most tourists in Thailand enjoy their holidays without needing a bank account, some are encountering difficulties when trying to open one.

 

Currently, there is no outright ban on Thai banks opening accounts for foreign nationals. Still, recent government efforts to curb call centre scams and the volatile cryptocurrency market have posed significant challenges.

 

New regulations slated for April 2025 will require biometric authentication, like facial recognition, for opening accounts. Each account will also need to be linked to a single registered device.

 

These rules may aid short-term tourists in opening accounts if they can show valid reasons, such as property purchases or applying for long-term visas.

 

For those facing hurdles, alternatives exist. Some embassies continue to offer income verification, even if funds are not transferred to Thailand, and may issue letters of guarantee for various nationalities.

 

Wealthier expats can explore visa options like the Elite or Long-Term Residence visas, which don't initially demand Thai bank accounts.

 

The Destination Thailand Visa, available at select embassies, offers multiple ways to prove the required 500,000 baht (approximately £12,000). Each visa has pros and cons, so personal research is key.

 

For a temporary solution, a border run might suffice. This allows a visa-exempt entry for 60 days, extendable by 30 days at local immigration for 1,900 baht (around £45) with proper paperwork.

 

However, ensure compliance with address registration (TM30) and 90-day notifications (TM47) to avoid fines. Although not a long-term strategy, it can be a stopgap while awaiting clearer banking policies.

 

Looking ahead, other government agencies could confirm expat income. Registering with the Thai Revenue Department (TRD) and submitting tax returns on overseas transfers might provide receipts that help open bank accounts. These receipts include official government logos, offering credible documentation.

 

Not all expats need to report to the TRD. Those who find it necessary to get a tax ID for overseas transfers may find this approach viable for obtaining a Thai bank account.

 

The retiree permit system, particularly the "O" non-immigrant visa with annual extensions, has stayed largely unchanged for 30 years, except for increased cash requirements. Given the changing landscape, assuming it will remain the same for decades is likely optimistic, writes  Barry Kenyon for Pattaya Mail.

 

-- 2025-02-19

 

 

What has the non 0 visa retirement system got to do with possible bank account problems and why should this change? Barry Kenyan offers only his own speculation. I went to BBK a few days ago for an end of year statement, nothing was mentioned about changes to an existing account which I have had for 19 years.

[ronnie50]

3 hours ago, Liverpool Lou said:

BBL. Krungsri, UOB and KTB have the facility.

Wasn't it all to do with needing facial recognition on the App to transfer more than 50k? I seem to be able to still transfer more than that with the same old App (SCB) - no facial feature.

[ronnie50]

6 hours ago, Robert_Smith said:

You a fan of track & trace then?

 

Cash is, and always will be, King.

 

Best regards,

Bob.

I use both. Regarding track and trace, every time you use an ATM you leave a footprint. And of course your mobile can be tracked everywhere you go.

[thailand49]

I was recently helping a friend with his finances and notice 15 baht being charged try o use his ATM to withdraw Thai baht from his account

Krungthai.

[roo860]

6 hours ago, proton said:

 

So Barry why and how do you think it will change? this is just uniformed speculative scaremongering.

Barry is a bit of a tit, don't be like Barry.

[baansgr]

7 hours ago, lordgrinz said:

 

I've got to go to the bank soon to get paperwork for my extension, plan to ask them what they need based on this latest news. However, I think I had my wife ask them last year, and they didn't need anything, so not sure if it's an issue, or not. My SIM comes from the True account that my wife started for our cable, the package comes with one free SIM, that I have used since I got here.

You need a sim card in your name only..easy enough but paramount to living here now 

[proton]

2 minutes ago, roo860 said:

Barry is a bit of a tit, don't be like Barry.

 

He does look a bit of a tit 😊

[baansgr]

33 minutes ago, ronnie50 said:

I use both. Regarding track and trace, every time you use an ATM you leave a footprint. And of course your mobile can be tracked everywhere you go.

Hence why every phone has non removable batteries 

[wealthychef]

11 hours ago, webfact said:

the required 500,000 baht

 

I thought it was 800k?  

 

[wealthychef]

45 minutes ago, soalbundy said:

What has the non 0 visa retirement system got to do with possible bank account problems and why should this change? Barry Kenyan offers only his own speculation. I went to BBK a few days ago for an end of year statement, nothing was mentioned about changes to an existing account which I have had for 19 years.

 

the relationship is that both drive clicks and result in advertising revenue 

[baansgr]

1 hour ago, kiwikeith said:

I would bet on cashless society in Thailand never happening, it would cause poverty and riots, imagine all the people with food stalls having to take phone payments, and the street vendors over all the roads in LOS, not to mention the brown bag donation scheme. and theres plenty more I haven't mentioned.

Will never happen

It's great isn't it...a few places only take digital payment but they have lost my business 

[khunjeff]

1 hour ago, Wake Up1 said:

He was probably out of his province. Out of province atm fees are 15 or 20 baht. Out of province bank deposits are 15 baht. So out of province cashless transfers are similar to atm withdrawals with a 15 baht fee. 

 

There are no out-of-province fees for QR payments. There are also no extra fees for out-of-province ATMs if you use the cardless withdrawal functionality through the bank app.

[lordgrinz]

29 minutes ago, baansgr said:

You need a sim card in your name only..easy enough but paramount to living here now 

 

I'm not changing my number, they'll have to accept things the way they are.

[JensenZ]

8 hours ago, gargamon said:

K-bank had never charged me a fee to use qr codes. I abandoned BKK bank a couple of years ago when they stopped allowing counter ATM withdrawals.

I can confirm that QR code payments are free with my K-Bank account.

[Moonlover]

4 hours ago, jaywalker2 said:

4 hours ago, Moonlover said:

It's more likely it was an annual fee for your account or card that just happened that it coincided with the day you updated the book.

 

I was caught out thinking that I'd been charged 100 Baht for using an ATM out of province. No, I was wrong. It was the annual card fee that was deducted on the same day.

 

4 hours ago, jaywalker2 said:

The fee was charged in January and it's 200 baht

If a charge is made for an 'over the counter' service you will be informed about at the time and given a receipt.

 

If the 100 baht was not mentioned to you at the time, then you've got it confused with some other charge or payment. We all do it on occasions as I've mentioned earlier.

[stoutfella]

8 hours ago, Robert_Smith said:

Glad I opened my 4 Thai bank accounts when I did, many moons ago.

 

I've been offered a credit card multiple times but turned them down.

 

I prefer cold, hard cash.

 

Best regards,

Bob.

I'm in your camp. If you hand over folding you know exactly how much you are spending on each transaction