I was surprised when Bangkok Bank today rejected my request to open a new account because I was on an LTR Visa. They said I must have Work Permit or be on Non-O retirement visa. How did Thailand get into this type of logic? I would think any bank with common sense would make wealthy pensioners their first choice of banking customers. This makes the LTR Visa less attractive. Has anyone has similar experiences from other banks?

9 minutes ago, scoutman360 said:

I was surprised when Bangkok Bank today rejected my request to open a new account because I was on an LTR Visa. They said I must have Work Permit or be on Non-O retirement visa. How did Thailand get into this type of logic? I would think any bank with common sense would make wealthy pensioners their first choice of banking customers. This makes the LTR Visa less attractive. Has anyone has similar experiences from other banks?

"Before deciding to open the bank account with Bangkok bank, The LTR Visa holder will need to contact LTR Visa Unit via email [email protected] 4 days prior going to Bangkok Bank, and the LTR Visa holder must provide information of which branch of Bangkok bank and what date and time the LTR Visa holder desires to go to open the bank account, and documents attached to the email as follows:

1. Copy of Passport pages
2. Copy of LTR Visa page
3. Copy of the Letter of LTR Visa Endorsement
4. Copy of ID card or other foreign licenses (If any) – Please note: this item must be brought on the selected date the LTR Visa holder will go to open the bank account.

Afterwards, the LTR Visa Unit will forward the email to Bangkok Bank to notify bank account opening, then the LTR Visa holder can go to the chosen branch of Bangkok Bank on the selected date stated in the mail."

(from LTR website)

I would be looking for a different bank. That bank is currentky having issues and has been over compensating with heavier requirements on foreign accounts. 

26 minutes ago, scoutman360 said:

I would think any bank with common sense would make wealthy pensioners their first choice of banking customers.

 

My faith in them having even an ounce of common sense has quickly evaporated in the last few months, I must say.

 

I'd explore alternatives.

1 hour ago, scoutman360 said:

I was surprised when Bangkok Bank today rejected my request to open a new account because I was on an LTR Visa. They said I must have Work Permit or be on Non-O retirement visa. How did Thailand get into this type of logic? I would think any bank with common sense would make wealthy pensioners their first choice of banking customers. This makes the LTR Visa less attractive. Has anyone has similar experiences from other banks?

 

K bank would not open me one two weeks ago because they claimed the name on my passport was the wrong way round, it's the same as any other passport, including Thais. Common sense is not very common with Banks here.

Anal bureaucracy at it's worst. The only benefit would be to prevent the use of fake LTR visas, how many of those are around now? 

 

And of course Non Os, are fake proof...

8 minutes ago, Peter Crow said:

Anal bureaucracy at it's worst. The only benefit would be to prevent the use of fake LTR visas, how many of those are around now? 

 

And of course Non Os, are fake proof...

Depends on what you mean by fake proof. If using an agent to provide money to skirt the regs then no they are not. 

Faced with a situation they have not come across before this is standard behaviour, just make up something to get rid of customer, just try another branch 

10 hours ago, K2938 said:

"Before deciding to open the bank account with Bangkok bank, The LTR Visa holder will need to contact LTR Visa Unit via email ltr[at]boi.go.th 4 days prior going to Bangkok Bank, and the LTR Visa holder must provide information of which branch of Bangkok bank and what date and time the LTR Visa holder desires to go to open the bank account, and documents attached to the email as follows:

1. Copy of Passport pages
2. Copy of LTR Visa page
3. Copy of the Letter of LTR Visa Endorsement
4. Copy of ID card or other foreign licenses (If any) – Please note: this item must be brought on the selected date the LTR Visa holder will go to open the bank account.

Afterwards, the LTR Visa Unit will forward the email to Bangkok Bank to notify bank account opening, then the LTR Visa holder can go to the chosen branch of Bangkok Bank on the selected date stated in the mail."

(from LTR website)

Here is the link to the quoted website, so @scoutman360 can make his mind up. The alternative bank doesn't require proof email from BOI. Actually, in May, when BB started playing up, I have opened an account there, Suk Soi 6 branch. All dusted up in 30 minutes. But sadly, 3 weeks later, they decided I shouldn't spend more than 49999 Baht a day, through my mobile banking. Ridicule kills, the economy.

 

https://ltr.boi.go.th/page/opening-bank-account-in-thailand.html