Bank Account Without Permanent Address

[tcris52]

I'm moving to Thailand in September on a non-immigrant B visa. I expect to get a work permit within a month or so but, until I secure a position, I will not be settling into a permanent address. Even when I land the position, I expect to be a month or two in a serviced apartment before settling into something "permanent." I'd like to open a bank account as there are advantages to working out of a Thai account as opposed to ATMing (if that's a word) out of my US account. I can do wire transfers for nothing and avoid the fees my US bank tacks on to the transactions.

Is there a way to open an account without an address?

Thanks.

Tony

[lopburi3]

You need an address but it can be anywhere - normal passbook savings account does not involve postal mail. Checking accounts are not available without the work permit and really not needed (nobody normally accepts them).

[lopburi3]

Are you sure you can do foreign wire transfers for "nothing"? And this is done sending US Dollars? Is it due to special conditions (deposit level or such)? Am sure there are a lot of people who would be interested in your bank name if this is true,

[Cuban]

You will need some sort of address for the WP. Although it's a few years ago I used my hotel as my bank account address - no problems encountered.

[tcris52]

Are you sure you can do foreign wire transfers for "nothing"? And this is done sending US Dollars? Is it due to special conditions (deposit level or such)? Am sure there are a lot of people who would be interested in your bank name if this is true,

It's a benefit of the account I have. It's with Washington Mutual Bank.

Edited August 25, 2008 by tcris52

[sweetchariot]

Kasikorn will open you a 'savings' account with just a passport. You get a visa debit/ atm card and online banking. The debit card is no good for online or telephone transactions, but it's a start, when you get your WP you can get them to open a current a/c for you.

[lopburi3]

Are you sure you can do foreign wire transfers for "nothing"? And this is done sending US Dollars? Is it due to special conditions (deposit level or such)? Am sure there are a lot of people who would be interested in your bank name if this is true,

It's a benefit of the account I have. It's with Washington Mutual Bank.

You need to check on below condition - you want the money sent in USD - if they are requiring they change the currency being sent you could lose money.

4. For wire transfers, non-refundable foreign currency exchange charges and other banks’ fees may apply.

[lopburi3]

Actually it does look like a good bank. Be sure to set up the wire transfer agreement (if not already done) before you leave as believe all require that they be done in person. Once an agreement signed they should have a phone/fax/internet way to initiate fund transfers.

[tcris52]

Are you sure you can do foreign wire transfers for "nothing"? And this is done sending US Dollars? Is it due to special conditions (deposit level or such)? Am sure there are a lot of people who would be interested in your bank name if this is true,

It's a benefit of the account I have. It's with Washington Mutual Bank.

One thing I am checking on. When I did the wire transfer, I went to my branch. I'm not sure if I can do transfers if they are not in person, i.e. from Thailand. I'll let you know.

[tcris52]

Also, if anybody has a brokerage account with Fidelity Investments, I'd be interested to know how you get money from that account into a Thai account.

Thanks.

Tony

[sweetchariot]

My UK bank allows me to transfer up to £5,000 per day by telephone, no agreement has ever been signed.

Obviously this will vary from bank to bank, but in this day and age shouldn't be too difficult to set up.