How To Open A Paypal Account In Thailand 100% Works

[jelluk]

worked for me he is how to do it

I wanted to get a Thai bank account as I plan on retiring here in 2 years and wanted a way to transfer funds from America to Thailand as prices are a lot less than Western Union. I figured PayPal (paypal.com) would be the transfer vehicle and thought I would be able to use my US PayPal account. I was partially correct. Here is what I did.

Step 1: Open Thai bank account. I chose Kasikorn bank after reading many favorable reviews online. Went with my teerak to the bank, took a number, and was seen in minutes. Explained, through teerak, that I wanted to open an account. The bank clerk asked if I lived or worked in Thailand, and my teerak explained that I did not, but visited 3 or 4 times per year. The clerk then asked if I had a Thai address, and teerak said I could use her mom's address.

Signed a couple of forms (all in Thai) and deposited 500 Baht. I also had to pay 300 baht for the ATM card. There were actually 2 fees, one for 100 Baht and the other for 200 Baht. My guess is one to create the card and one for the annual fee. I got the card on the spot along with a sealed document that included my PIN number. I can keep this number or change it at any ATM.

Passport was required (and copied) to verify who I was. So it boils down to an in-country address and a passport, along with a few baht to open an account.

Step 2: Try to add the Thai bank to my US PayPal account. No joy. I can only add US banks to my US PayPal account. I email PayPal and ask them what to do. In less than 24 hours, they say that I can open a 2nd PayPal account and designate Thailand as the country. I do this with no problem.

I then try to add my Kasikorn bank account to my Thai PayPal account. Still no joy. I try different variations – with the dashes, without the dashes– all to no avail.

I then call the Kasikorn Bangkok help desk, on a Saturday, and confirm what I read on the Kasikorn web site. I need to have online access (K-cyber account) and then I will be able to add the account (almost).

Step 3: Back to Kasikorn bank. I get the same clerk and explain that I want to get the K-cyber access. I sign another form in Thai that lists my name, account number, and my email address. I am told that I will get the log in info via email.

Step 4: Receive email within 24 hours for Kasikorn telling me that my K-cyber account is set up and they provide log in and password. On initial log in, both password and user name have to be changed. They also require a 2nd password for any transactions. This can either be done via SMS or I can create a second password. I choose a second password in case I am not in-country when I want to make a transaction.

Kasikorn web site - http://www.kasikornbank.com/portal/site/KBank/ - from the drop down select "K-Cyber Banking. A new window will open. Choose ENG for your language.

Step 5: In order to make online purchases or transactions there is another step. I have to create a K-web shopping virtual credit card. It is a simple application, requiring the 2nd password, and within 24 hours I have a virtual credit card. What this means is, I was emailed a 16-digit number (same as a Visa card), expiration date, and a CCV (the 3 digits on the back of the card). All of this is virtual. This is an additional security step that the bank uses.

Step 6: Back to the Thai PayPal account. I log in to my Thai account, add the virtual account info (which is linked to my Kasikorn account), and the card is accepted. WOO HOO! PayPal requires verification. They will deduct $1.95 from the account and the transaction will be listed as PAYPAL1234 or 1234PAPAL. The four digits will then have to be posted at the PayPal account to verify. In the US, they deposited a few cents and then you had to enter that info in your account to verify. Once verified, PayPal will reimburse the $1.95.

Step 7: Receive email confirmation that PayPal has deducted money from my account and the email has the 4 digits I need to confirm my account. Back to Thai PayPal and enter the 4 digits and all is good. Now I have an online account and can go shopping online, transfer money, etc.

Step 8: Time to test the transferring of funds from US PayPal to Thai PayPal. I send $100 (send money email to email) and receive immediate confirmation via email that the transaction has completed. I log in to my Thai PayPal online account and can see that the funds are available and I now have to accept or deny. I accept.

Step 9: I now want to transfer the $100 from PayPal to my Kasikorn bank. Problem. I don't have a bank account associated with the Thai PayPal account. The virtual info is already there, but not a real bank account. So, I click on "add a bank account". All is well until I select the drop down that lists all of the banks, and everything is in the Thai language.

I open a second window and go to the Kasikorn web site and compare the Thai script and find my bank in the drop down window (2nd bank listed). I select it and next is a confirmation page and Kasikorn Bank is now in English so I feel a little better that I have chosen the correct bank. I confirm the transfer and next window informs me that it will take 5-7 days for the transfer (a little longer than US PayPal which is 3 to 4 days).

Bank account must be entered without the dashes.

Not sure if the same has to be done at other Thai banks - but this is what it took at Kasikorn

[Bangkokphil]

interesting tale can you let us know Paypals charges for transfering money as This may proove cheaper than my current method which is Uk Bank to Thai Bank Thanks for the info.

[Valjean]

From the US I use a simple alternative method. Bangkok Bank has a US branch with a standard US routing number. I transfer from my US bank (Fidelity) to Bangkok Bank US and it gets transfered to my Bangkok branch of Bangkok Bank. Fees = 0. 3-4 days.

[Crossy]

Useful info in the report (thanks) particularly the documentation (or lack of) required to open an account at Kasikorn (which branch did you use?).

[khunandy]

Thanks for the useful information, like so many things in Thailand opening bank accounts seems to be at the whim of the person you are talking to.

[jelluk]

a passport and the address of my apartment was all that was needed to open the account ! takea a bit of work to sort out the k cyber banking online but i did it ! i opened it at the branch in big c pattaya on 2nd rd

[Neeranam]

Went with my teerak to the bank

[TopDogger]

Went with my teerak to the bank

Better than listening to everyone rattle on about what brand of toothpaste she uses or what she had for breakfast.....

[CarlBkk]

Went with my teerak to the bank

Better than listening to everyone rattle on about what brand of toothpaste she uses or what she had for breakfast.....

I dunno...I think they're on a parr.

[Bisto]

Wonder will this work with other Banks. Like Bangkok Bank.

Interesting solution Thanks jelluk.

[TerryLH]

That's the story, word for word, that was below the fold on Page D7 in the Database section of the Bangkok Post on 26 March 08.

Shouldn't you have given them credit? Or, are you the writer L. W. who wrote it for the BB Post?

Interesting article, either way.

[smartecosse]

bangkok bank required passport only when i opened account

asked for be1st card - took 7 days from BKK, has actual name on card rather than "privileged member" or similar and works online as has CVV number

also works fine with paypal thailand accounts

[Maejo Man]

For transferring money to a Thai bank account avoid Paypal like the proverbial plague.

Never had a problem with them. On a transfer request, the money is in my Bangkok bank account within 24 hours, and the bottom line equates to less that other forms of remitting funds.

Horses for courses I suppose....

[threelegcowboy]

Avoid Paypal for anything else other than eBay purchases.????

Works well transfering money between indivduals (if both have)

[rick75]

^ E_T I have to agree and to provide some firm figures to show this on a $1800 transaction I recently used them for I lost $63 in fees and exchange rate differences, they can and will freeze your account at will and some people I have heard of have had funds frozen for months. I use them for ebay when I have to but for simple funds transfers no way.

[LinkPopularity]

interesting, but keep 1 thing in mind ... PayPal takes a huge profit on the currency exchange rate !

better to send your money to your US bank account and then transfer to Thailand, or take it with the ATM ... up to 10% difference !!

[bojangles]

What we really need to know, and the one piece of information not provided. For each USD transfered, how many baht ended up in your Kaisikorn account?

And what was the onshore exchange rate at the time.

[TopDogger]

What we really need to know, and the one piece of information not provided. For each USD transfered, how many baht ended up in your Kaisikorn account?

And what was the onshore exchange rate at the time.

Someone told me that if your transfering USD via PayPal to a Thai bank you'll end up losing over 12% in their various fees and fraudulent exchange rates.

[mikethevigoman]

Avoid Paypal for anything else other than eBay purchases.????

Works well transfering money between indivduals (if both have)

Im inclined to agree, i sent 100 pounds on the 26th march to a thai military bank and it arrived today 3rd, 5 working days, 6090baht was received, i consider that ok,. Edited April 3, 2008 by mikethevigoman

[BEENTHEREDONETHAT]

I don't know about movin g money but I can tell you that Paypal is no help at all if you have a problem.

Ordered some stuff from India using paypal as a go between. Suppose to deliver in 3 weeks, then needed a week or ten days more than needed more time yet then would not answer emails, sent him a email and told him if he did not deliver in 48 hours I was canceling the order. Contacted Paypal and told them of the delivery problem and that I was canceling the order. Paypal basicly told me that was my problem not theirs, and to work it out with the seller.

Contacted my visa card bank and requested a refund due to lack of delivery. Took about 5 or 6 weeks to resolve, definitely no help at all from Paypal. Just got a email from them a couple of days ago saying they were looking into it. This as after the bank had already credited my account and a couple of months after filing a complaint with Paypal.

So things may go smooth for just moving money, but if you have a problem Paypal is worthless.

[freitag1]

The best thing you can do if you want to deal with paypal occasionally you register a us account via proxy and verify it with a virtual credit card. You can use it and do thing Bangkok Bank transfer stuff as long as paypal doesn't catch you (they check from where you login so it makes sense to use a proxy as well if you are not an us citizen).

If they start to doubt that your account is legit they ask you for some more proof that you are us and that will be the end for your account.

I use paypal for my business and hate them for their rape exchange courses. Anyway most of my money comes from direct credit card payments.

Edited April 3, 2008 by freitag1

[Stuart]

bangkok bank required passport only when i opened account

asked for be1st card - took 7 days from BKK, has actual name on card rather than "privileged member" or similar and works online as has CVV number

also works fine with paypal thailand accounts

I have a Bangkok Bank Be1st PayPal account. Worked fine up until 10 days ago. It seems Bangkok Bank now need a P.A.M. and a 6 digit VbV. P.A.M. = Personal Assurance Message and a VbV = Verified by Visa.

Has anyone come across this and is there something we can do to get the account working again?

[Zpete]

worked for me he is how to do it

I wanted to get a Thai bank account as I plan on retiring here in 2 years and wanted a way to transfer funds from America to Thailand as prices are a lot less than Western Union. I figured PayPal (paypal.com) would be the transfer vehicle and thought I would be able to use my US PayPal account. I was partially correct. Here is what I did.

Step 1: Open Thai bank account. I chose Kasikorn bank after reading many favorable reviews online. Went with my teerak to the bank, took a number, and was seen in minutes. Explained, through teerak, that I wanted to open an account. The bank clerk asked if I lived or worked in Thailand, and my teerak explained that I did not, but visited 3 or 4 times per year. The clerk then asked if I had a Thai address, and teerak said I could use her mom's address.

Signed a couple of forms (all in Thai) and deposited 500 Baht. I also had to pay 300 baht for the ATM card. There were actually 2 fees, one for 100 Baht and the other for 200 Baht. My guess is one to create the card and one for the annual fee. I got the card on the spot along with a sealed document that included my PIN number. I can keep this number or change it at any ATM.

Passport was required (and copied) to verify who I was. So it boils down to an in-country address and a passport, along with a few baht to open an account.

Step 2: Try to add the Thai bank to my US PayPal account. No joy. I can only add US banks to my US PayPal account. I email PayPal and ask them what to do. In less than 24 hours, they say that I can open a 2nd PayPal account and designate Thailand as the country. I do this with no problem.

I then try to add my Kasikorn bank account to my Thai PayPal account. Still no joy. I try different variations – with the dashes, without the dashes– all to no avail.

I then call the Kasikorn Bangkok help desk, on a Saturday, and confirm what I read on the Kasikorn web site. I need to have online access (K-cyber account) and then I will be able to add the account (almost).

Step 3: Back to Kasikorn bank. I get the same clerk and explain that I want to get the K-cyber access. I sign another form in Thai that lists my name, account number, and my email address. I am told that I will get the log in info via email.

Step 4: Receive email within 24 hours for Kasikorn telling me that my K-cyber account is set up and they provide log in and password. On initial log in, both password and user name have to be changed. They also require a 2nd password for any transactions. This can either be done via SMS or I can create a second password. I choose a second password in case I am not in-country when I want to make a transaction.

Kasikorn web site - http://www.kasikornbank.com/portal/site/KBank/ - from the drop down select "K-Cyber Banking. A new window will open. Choose ENG for your language.

Step 5: In order to make online purchases or transactions there is another step. I have to create a K-web shopping virtual credit card. It is a simple application, requiring the 2nd password, and within 24 hours I have a virtual credit card. What this means is, I was emailed a 16-digit number (same as a Visa card), expiration date, and a CCV (the 3 digits on the back of the card). All of this is virtual. This is an additional security step that the bank uses.

Step 6: Back to the Thai PayPal account. I log in to my Thai account, add the virtual account info (which is linked to my Kasikorn account), and the card is accepted. WOO HOO! PayPal requires verification. They will deduct $1.95 from the account and the transaction will be listed as PAYPAL1234 or 1234PAPAL. The four digits will then have to be posted at the PayPal account to verify. In the US, they deposited a few cents and then you had to enter that info in your account to verify. Once verified, PayPal will reimburse the $1.95.

Step 7: Receive email confirmation that PayPal has deducted money from my account and the email has the 4 digits I need to confirm my account. Back to Thai PayPal and enter the 4 digits and all is good. Now I have an online account and can go shopping online, transfer money, etc.

Step 8: Time to test the transferring of funds from US PayPal to Thai PayPal. I send $100 (send money email to email) and receive immediate confirmation via email that the transaction has completed. I log in to my Thai PayPal online account and can see that the funds are available and I now have to accept or deny. I accept.

Step 9: I now want to transfer the $100 from PayPal to my Kasikorn bank. Problem. I don't have a bank account associated with the Thai PayPal account. The virtual info is already there, but not a real bank account. So, I click on "add a bank account". All is well until I select the drop down that lists all of the banks, and everything is in the Thai language.

I open a second window and go to the Kasikorn web site and compare the Thai script and find my bank in the drop down window (2nd bank listed). I select it and next is a confirmation page and Kasikorn Bank is now in English so I feel a little better that I have chosen the correct bank. I confirm the transfer and next window informs me that it will take 5-7 days for the transfer (a little longer than US PayPal which is 3 to 4 days).

Bank account must be entered without the dashes.

Not sure if the same has to be done at other Thai banks - but this is what it took at Kasikorn

Do you really need a Thai bank account?

Interest rates here are crap, 8.35% on call in NZ.

I just use my NZ bank ATM card with the PLUS symbol and withdraw any monies needed as required.

Al money transfers, transactions are done using internet banking.

I do that in any country, not just Thailand.

I spend most time abroad, in LOS...

Edited April 17, 2008 by Zpete

[a1falang]

Interest rates here are crap, 8.35% on call in NZ.

I just use my NZ bank ATM card with the PLUS symbol and withdraw any monies needed as required.

Al money transfers, transactions are done using internet banking.

I do that in any country, not just Thailand.

I spend most time abroad, in LOS...

Hi, Zpete, I used to do that with my ANZ Night&Day card, which cost "only" NZ$7.50 with each withdrawal. However, I was shocked to discover a hidden "currency converstion charge" recently when checking my statement online. e.g.

ATM XXXXXXXXXXXXXXX SUB B ANGKOK FOREIGN CURRENCY AMT THB 15,000.00

INCL CURRENCY CONVERSION CHARGE $14.92 $611.99

So that's NZ$22.42 in fees for one withdrawal! Probably best to use a credit card. Still, can't beat those great oncall rates, eh?

[kmufti]

worked for me he is how to do it

I wanted to get a Thai bank account as I plan on retiring here in 2 years and wanted a way to transfer funds from America to Thailand as prices are a lot less than Western Union. I figured PayPal (paypal.com) would be the transfer vehicle and thought I would be able to use my US PayPal account. I was partially correct. Here is what I did.

Step 1: Open Thai bank account. I chose Kasikorn bank after reading many favorable reviews online. Went with my teerak to the bank, took a number, and was seen in minutes. Explained, through teerak, that I wanted to open an account. The bank clerk asked if I lived or worked in Thailand, and my teerak explained that I did not, but visited 3 or 4 times per year. The clerk then asked if I had a Thai address, and teerak said I could use her mom's address.

Signed a couple of forms (all in Thai) and deposited 500 Baht. I also had to pay 300 baht for the ATM card. There were actually 2 fees, one for 100 Baht and the other for 200 Baht. My guess is one to create the card and one for the annual fee. I got the card on the spot along with a sealed document that included my PIN number. I can keep this number or change it at any ATM.

Passport was required (and copied) to verify who I was. So it boils down to an in-country address and a passport, along with a few baht to open an account.

Step 2: Try to add the Thai bank to my US PayPal account. No joy. I can only add US banks to my US PayPal account. I email PayPal and ask them what to do. In less than 24 hours, they say that I can open a 2nd PayPal account and designate Thailand as the country. I do this with no problem.

I then try to add my Kasikorn bank account to my Thai PayPal account. Still no joy. I try different variations – with the dashes, without the dashes– all to no avail.

I then call the Kasikorn Bangkok help desk, on a Saturday, and confirm what I read on the Kasikorn web site. I need to have online access (K-cyber account) and then I will be able to add the account (almost).

Step 3: Back to Kasikorn bank. I get the same clerk and explain that I want to get the K-cyber access. I sign another form in Thai that lists my name, account number, and my email address. I am told that I will get the log in info via email.

Step 4: Receive email within 24 hours for Kasikorn telling me that my K-cyber account is set up and they provide log in and password. On initial log in, both password and user name have to be changed. They also require a 2nd password for any transactions. This can either be done via SMS or I can create a second password. I choose a second password in case I am not in-country when I want to make a transaction.

Kasikorn web site - http://www.kasikornbank.com/portal/site/KBank/ - from the drop down select "K-Cyber Banking. A new window will open. Choose ENG for your language.

Step 5: In order to make online purchases or transactions there is another step. I have to create a K-web shopping virtual credit card. It is a simple application, requiring the 2nd password, and within 24 hours I have a virtual credit card. What this means is, I was emailed a 16-digit number (same as a Visa card), expiration date, and a CCV (the 3 digits on the back of the card). All of this is virtual. This is an additional security step that the bank uses.

Step 6: Back to the Thai PayPal account. I log in to my Thai account, add the virtual account info (which is linked to my Kasikorn account), and the card is accepted. WOO HOO! PayPal requires verification. They will deduct $1.95 from the account and the transaction will be listed as PAYPAL1234 or 1234PAPAL. The four digits will then have to be posted at the PayPal account to verify. In the US, they deposited a few cents and then you had to enter that info in your account to verify. Once verified, PayPal will reimburse the $1.95.

Step 7: Receive email confirmation that PayPal has deducted money from my account and the email has the 4 digits I need to confirm my account. Back to Thai PayPal and enter the 4 digits and all is good. Now I have an online account and can go shopping online, transfer money, etc.

Step 8: Time to test the transferring of funds from US PayPal to Thai PayPal. I send $100 (send money email to email) and receive immediate confirmation via email that the transaction has completed. I log in to my Thai PayPal online account and can see that the funds are available and I now have to accept or deny. I accept.

Step 9: I now want to transfer the $100 from PayPal to my Kasikorn bank. Problem. I don't have a bank account associated with the Thai PayPal account. The virtual info is already there, but not a real bank account. So, I click on "add a bank account". All is well until I select the drop down that lists all of the banks, and everything is in the Thai language.

I open a second window and go to the Kasikorn web site and compare the Thai script and find my bank in the drop down window (2nd bank listed). I select it and next is a confirmation page and Kasikorn Bank is now in English so I feel a little better that I have chosen the correct bank. I confirm the transfer and next window informs me that it will take 5-7 days for the transfer (a little longer than US PayPal which is 3 to 4 days).

Bank account must be entered without the dashes.

Not sure if the same has to be done at other Thai banks - but this is what it took at Kasikorn

did it as it was mentioned and got my Thai verified paypal account within 3 days.

[Dustoff]

From the US I use a simple alternative method. Bangkok Bank has a US branch with a standard US routing number. I transfer from my US bank (Fidelity) to Bangkok Bank US and it gets transfered to my Bangkok branch of Bangkok Bank. Fees = 0. 3-4 days.

Bangkok Bank in New York charges the following fees for funds transfers

initiated via the US ACH system:

Transferred Amount Fee

Less than USD 50.00 Free

USD 51.00 - 100.00 USD 3.00

USD 100.01 - 2,000.00 USD 5.00

USD 2,000.01 - 50,000.00 USD 10.00

USD 50,000.01 or more USD 20.00

Bangkok Bank in Thailand also charges a fee of 0.25% of the amount in the

Baht currency (minimum of THB 200; maximum of THB 500) when the funds are

deposited into the recipient's Bangkok Bank account in Thailand.

How do you go about avoiding these fees?