Opening A New Bank Account In Thailand

[KKvampire]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

[12DrinkMore]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

The banks have always screwed us, none more so than the Western lot.

At least the Thai banks are staffed by friendly and smiling personnel.

[4evermaat]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

Maybe you were referring to credit card. I was not charged 500 baht to open bank account. The minimum deposit was 500 baht, which you can withdraw immediately at the atm after you open account. I pay 300 baht for visa debit card. Every year it is 200 baht fee for the debit card. Free replacements if you know your pin. if you forget your pin, 300 baht again. I use debit card anywhere in thailand for free to make purchases. ATM is free deposits/withdrawals only in the same province. Outside the province, 10 baht flat or 10 baht/10k baht withdrawal at same bank, non-province atm. 10 baht per 10000 baht to deposit to non-province accounts (usual mininum fee 20 baht).

TMB is the only bank that does not charge fee on their end for withdrawing from non-tmb bank.

One more tip: make sure you bring laptop with you to open account if you plan to apply for internet banking. Yes you can do it at home, but when you run into a problem, it is easier to have them service it there. They can call tech support on your behalf.

[katabeachbum]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

Not correct

Only passport required. I have accounts with VISA or Mastercard 16 digit debetcards and security ssl on the backside in most major Thai banks, BKK Bank excluded.

No fee to open account

No fee to keep account if balance is more than 1.000 baht or account is active at least every 6 months

Up to 300 baht fee to get card, but no fees to use in banks ATM in Province of issue

No fees on checks

Fees 20-30 baht on ATM ransfers to another province or account in another bank

I also have VISA Creditcard from Bank of Aydhya. No fee to get card. No annual fee. No fees to use card. Pay balance every month and no costs at all

[4evermaat]

Not correct

Only passport required......

I forgot that also. I'm trying to remember if they needed my drivers license (second form of id) also when I opened mine in phuket. I think the passport was all I needed when I showed the long-stay visa. I know a branch in chumphon who hassled me for not having work permit when I wanted to do internet banking. In fact, even though I had bank account with bkk bank already (brought the passbooks for both BBK and TMB to prove it, they insisted on having my gf "guarantee" the account. You can always branch-hop, but in a smaller town that only works so far.

[sam3384]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

Not correct

Only passport required. I have accounts with VISA or Mastercard 16 digit debetcards and security ssl on the backside in most major Thai banks, BKK Bank excluded.

No fee to open account

No fee to keep account if balance is more than 1.000 baht or account is active at least every 6 months

Up to 300 baht fee to get card, but no fees to use in banks ATM in Province of issue

No fees on checks

Fees 20-30 baht on ATM ransfers to another province or account in another bank

I also have VISA Creditcard from Bank of Aydhya. No fee to get card. No annual fee. No fees to use card. Pay balance every month and no costs at all

So if you were to open a Kasikorn Account in Bangkok, and then subsequently make ATM withdrawals from Kasikorn ATM's in Pattaya, would there be a 20-30 baht ATM withdrawl fee?

Any other fees?

[katabeachbum]

Gettimg a bankaccount in thailand with an international visa ormastercard 16digit number and security ssl number on the back of the card requires more than just passport.What i find crazy is the banks charge a fee 400~500 bht to open the account and an annual charge and a fee when using the card outside the city you oen the account.

I come from a generation where banks were grateful to have your money and charged nothing unless you overdrafted.Seems the low interest rates makes banks want to screw us even more,particularly if we are falang

Not correct

Only passport required. I have accounts with VISA or Mastercard 16 digit debetcards and security ssl on the backside in most major Thai banks, BKK Bank excluded.

No fee to open account

No fee to keep account if balance is more than 1.000 baht or account is active at least every 6 months

Up to 300 baht fee to get card, but no fees to use in banks ATM in Province of issue

No fees on checks

Fees 20-30 baht on ATM ransfers to another province or account in another bank

I also have VISA Creditcard from Bank of Aydhya. No fee to get card. No annual fee. No fees to use card. Pay balance every month and no costs at all

So if you were to open a Kasikorn Account in Bangkok, and then subsequently make ATM withdrawals from Kasikorn ATM's in Pattaya, would there be a 20-30 baht ATM withdrawl fee?

yep, correct

Any other fees?

1. withdrawel fee if use another banks ATM

2. fee for transfer funds from your account to an account in another bank or province

[KKvampire]

I went to a TMB bank with passport and work permit,they were not cooperative and then said ,we have to check the information of your overseas identity in the country its from, i laughed at them and said “maybe you dont want me to.open an account“ and with that fake smile you get here this bank official said“maybe“

[katabeachbum]

I went to a TMB bank with passport and work permit,they were not cooperative and then said ,we have to check the information of your overseas identity in the country its from, i laughed at them and said "maybe you dont want me to.open an account" and with that fake smile you get here this bank official said"maybe"

The name "Thai Military Bank" could have something to do with it.

20 or so commercial banks to choose from, so give it another shot

Kasikorn, Siam Commercial and Ayudhya are easy going and low on fees.

[PattayaParent]

^I had no problem opening an account at TMB, Royal Garden Plaza branch, Pattaya.

[Ratsima]

I have ordinary passbook savings accounts with both Bangkok Bank and Kasikorn Bank at branches here in Korat. Opening them was easy with just a passport.

However, now I want to open a fixed deposit account (Happy Senior Fixed Deposit 2.9%) but KBank tells me that I need either a work permit or a house registration book with my name in it. Since I'm on a 'retirement' visa, I can get neither.

KBank said that if I did open the account I'd get the same rate as a Thai national.

Anyone in similar circumstances managed to open a savings account with a decent interest rate?

[katabeachbum]

I have ordinary passbook savings accounts with both Bangkok Bank and Kasikorn Bank at branches here in Korat. Opening them was easy with just a passport.

However, now I want to open a fixed deposit account (Happy Senior Fixed Deposit 2.9%) but KBank tells me that I need either a work permit or a house registration book with my name in it. Since I'm on a 'retirement' visa, I can get neither.

KBank said that if I did open the account I'd get the same rate as a Thai national.

Anyone in similar circumstances managed to open a savings account with a decent interest rate?

Asking in another branch is usually more easy, as its all up to branch manager. If you prefere in this branch, what they really ask for is proof of residence as displayed in WP or house registration.

So, Immigration, get a "Certficiate of Residence", and branch manager should be ok. Valid as long as your permit to stay.

Or if you do not rent but "own" your house, visit your local Tessabaan or Amphur and get a yellow housebook with your name in it. Valid "forever".

[Ratsima]

Asking in another branch is usually more easy, as its all up to branch manager. If you prefere in this branch, what they really ask for is proof of residence as displayed in WP or house registration.

So, Immigration, get a "Certficiate of Residence", and branch manager should be ok. Valid as long as your permit to stay.

Or if you do not rent but "own" your house, visit your local Tessabaan or Amphur and get a yellow housebook with your name in it. Valid "forever".

Well, I asked here in order to avoid doing the leg work; lazy slob that I am.

As for the yellow Tabien Ban; I'm going to give it a try, but don't have much optimism. The law office where my GF works reports a less than 50% success rate here in Korat with pretty much a zero chance if you're not married to a Thai national (I'm not). I have a usufruct on a paid-for house. Even then the lawyer didn't hold out much hope.

[katabeachbum]

Asking in another branch is usually more easy, as its all up to branch manager. If you prefere in this branch, what they really ask for is proof of residence as displayed in WP or house registration.

So, Immigration, get a "Certficiate of Residence", and branch manager should be ok. Valid as long as your permit to stay.

Or if you do not rent but "own" your house, visit your local Tessabaan or Amphur and get a yellow housebook with your name in it. Valid "forever".

Well, I asked here in order to avoid doing the leg work; lazy slob that I am.

As for the yellow Tabien Ban; I'm going to give it a try, but don't have much optimism. The law office where my GF works reports a less than 50% success rate here in Korat with pretty much a zero chance if you're not married to a Thai national (I'm not). I have a usufruct on a paid-for house. Even then the lawyer didn't hold out much hope.

yeah, its totally up to one employee at Tessaban/Amphur. If the land owner goes with you, it should be hard to say no.

But lazy as we are, get a certificate of residence from immigration, and at least your banking is solved for now

[4evermaat]

yeah, its totally up to one employee at Tessaban/Amphur. If the land owner goes with you, it should be hard to say no.

But lazy as we are, get a certificate of residence from immigration, and at least your banking is solved for now

how do you go about the "letter of residence"? Is there a thai name for it? Do you have a sample copy somewhere?

Never saw any forms laid out at the Ranong immigration port when I do my visa runs.

Have non-imm ED visa. I'm getting ready to re-up, so maybe I can aquire one when I re-enter thailand.

I understand you may also purchase motorbike, get drivers license, etc with this residence letter. The standard "need work permit" response gets annoying.

[Ratsima]

Unfortunately, the residence certificate from Immigration (I believe it's 500 baht here in Korat) is not a universal substitute for a house registration or work permit. When I asked KBank about using either my usufruct or a residence certificate they just kept repeating their "work permit or house registration book" mantra.

The only certainty is that no matter what office you visit, government or private, you're bound to get an interpretation that's at odds with whatever else you've been told.

[katabeachbum]

yeah, its totally up to one employee at Tessaban/Amphur. If the land owner goes with you, it should be hard to say no.

But lazy as we are, get a certificate of residence from immigration, and at least your banking is solved for now

how do you go about the "letter of residence"? Is there a thai name for it? Do you have a sample copy somewhere?

Never saw any forms laid out at the Ranong immigration port when I do my visa runs.

Have non-imm ED visa. I'm getting ready to re-up, so maybe I can aquire one when I re-enter thailand.

I understand you may also purchase motorbike, get drivers license, etc with this residence letter. The standard "need work permit" response gets annoying.

guess we r off topic, but

Visit Phuket immigration. First row, left side guy, ask for "certificate of residence". 300 baht, your passport, some proof of residence like lease is all he wants. Certificate looks different from different Immigrations, and forms are not available.

"Need work permit" is a standard phrase, and is actually not what they need, but WP does work, but so do other docs. "Need WP" for car finance, Credit card, bank account, check account, you name it. Never had one, still achived the above

[katabeachbum]

Unfortunately, the residence certificate from Immigration (I believe it's 500 baht here in Korat) is not a universal substitute for a house registration or work permit. When I asked KBank about using either my usufruct or a residence certificate they just kept repeating their "work permit or house registration book" mantra.

The only certainty is that no matter what office you visit, government or private, you're bound to get an interpretation that's at odds with whatever else you've been told.

The thing is to not ask.

Whenever WP or Tabien Baan is required, I leave even if I have certificate of residence in my pocket, wouldnt want them to loose face would we? Come back next day with "certificate of residence" and its solved. The banks have a list of requirements for different accounts. One of them is "residents only". When they recieve your certificate in Thai, it says you are resident

[theoldgit]

"Need work permit" is a standard phrase, and is actually not what they need, but WP does work, but so do other docs. "Need WP" for car finance, Credit card, bank account, check account, you name it. Never had one, still achived the above

Yes agree, it seems that some of the bank staff are poorly trained and their requirement for a WP is a catch all reply which means they don't have to do anything. I'm on a extension of stay based on retirement, and like you, with the exception of a checking account, I have also achieved all of the above.

I do find it strange that a person of means who wants to deposit XX million Baht in a high interest account might be prevented from doing so because they don't, need to, work in Thailand.

[IMA_FARANG]

I think I posted this info before in another topic, but it's probably worth another post.

In November 2010 I opened a bank account with Bangkok Bank in their branch at Soi 43 Sukhumvit road in Bangkok. All I needed was my Multi-entry Non O visa...and my passport was used as my I.D. for verification of identity also. As soon as the account was opened I also was given an ATM card

I had previously tried to open an account in the Bangkok Bank branch on Phylothin (spelling?) road and they made so many problems I gave up on that branch.

I then went to that Bangkok Bank branch on Soi 43 Sukhumvit where my Thai wife and I have a joint account in our names. (She opened that account many years ago so I could send money for her and our family's monthly expenses...and she later made it a joint account by adding my name.)

Anyhow, if you are in Bangkok, I have had good, friendly, and quick service from that Bangkok Bank branch on Soi 43, Sukhumvit.

If you are close to there, I would try them first before I tried to open an bank account at any other branch.

Edited June 27, 2011 by IMA_FARANG

[katabeachbum]

"Need work permit" is a standard phrase, and is actually not what they need, but WP does work, but so do other docs. "Need WP" for car finance, Credit card, bank account, check account, you name it. Never had one, still achived the above

Yes agree, it seems that some of the bank staff are poorly trained and their requirement for a WP is a catch all reply which means they don't have to do anything. I'm on a extension of stay based on retirement, and like you, with the exception of a checking account, I have also achieved all of the above.

I do find it strange that a person of means who wants to deposit XX million Baht in a high interest account might be prevented from doing so because they don't, need to, work in Thailand.

I was allowed to read their guidance doc once, strangely enough it was in Thai and English.

1. thai nationals

2. foreigners with WP

3. thai co ltd

4. foreigners able to proof residence in TH

number 4 all Thais automaticly think Tabien Baan, as this is how they prove residence. When they see a "certificate of residence" issued by Royal Thai Police Immigration stating in Thai you are a resident here, it works

possibly #4 should have said "permanent residents", but lets not tell them

[theoldgit]

I was allowed to read their guidance doc once, strangely enough it was in Thai and English.

1. thai nationals

2. foreigners with WP

3. thai co ltd

4. foreigners able to proof residence in TH

That's interesting, thanks. Did you notice if the guidance doc was from the Bank's HQ or the BOT?

[katabeachbum]

I was allowed to read their guidance doc once, strangely enough it was in Thai and English.

1. thai nationals

2. foreigners with WP

3. thai co ltd

4. foreigners able to proof residence in TH

That's interesting, thanks. Did you notice if the guidance doc was from the Bank's HQ or the BOT?

yellow bank heading, no BoT

[Ratsima]

Walked in to the Kasikorn Bank branch where I have a savings account today and asked about opening a fixed deposit account. All I needed was my passport (and the cash, of course). No mention of work permit or tabien baan.

[muratremix]

Anyone had experience with usd savings account? is it easy same baht account? i have acc at kasikorn, opened it with the help of marriage certificste!!

[katabeachbum]

Anyone had experience with usd savings account? is it easy same baht account? i have acc at kasikorn, opened it with the help of marriage certificste!!

currency accounts can have ATMcard to be used just like TH baht account, simple and hazzlfree in Ayudhya

[nong38]

Well I am in Nakhon Sawan and not BKK but my experience goes like this. I tried the internet to see who was interested and Kasikorn replied and looked promising so that where I went when I arrived to open an account, however, the online experience was very different to in branch here, Here they just did not want to know and just walked away. I went to Bank of Ayudhya in Kosi Road and no problems whatsoever, I now have several accounts with them at number 433, opposite Kasikorn! This bank has about 4 english speaking employees and that is the difference I think, make sure there are english speakers in the branch. I have found them most helpful every time I go. The mangeress is happy to see me and is a competent english speaker. I would recommend this bank and branch to anyone in this area.

Edited July 3, 2011 by nong38

[muratremix]

I asked kasikorn about USD currency account, just like Citi bank, they cut 1 percent from cash deposit. Why in Singapore & Thailand (maybe in other Asian countries) having a USD account is so expensive?

Anybody have a USD account in Thailand (That you can deposit & withdrawal cash without any stupid commission)?

[bkkjoe]

My experience with Bangkok Bank - money gone missing!

Opened a USD account with the nominal value (1000USD to avoid $10 monthly admin charge) in Nov 2010 at their Rama 9 branch.

I actually opened in October 2010, but the guy at the bank made a mistake in assigning an account number for the USD account, so I had to go back and do it again. Hence Nov. This guy is ok enough as he can communicate in English (just) but I guess he was not experienced enough for dealing with foreign currency accounts.

The account has been inactive, but I have been trying to check the account now and then, just in case. (i.e TIT)

I checked the account in March 2011, and the money was there. I check it again last week (July), and the money was gone!

Of course I knew I had done nothing with the account since it was opened.

I went to the branch the following day with all the evidence (printouts of the balances).

They updated the passbook with the recent activities. It showed: 400USD in deposit/credit side of the passbook, but the balance was 160USD ($10 x 2months admin charge due to the balance gone below $1000). This of course makes no sense. So $820 disappeared in the ether.

They looked as baffled as I was. I sat and watched what they would do.

They made some phone calls and for some reasons they agreed to put the $1000 back into my account.

Now I ended up with $1160. Hurrey! A nice little earner.

It practically gave me $160 interest (16% over 9 months. not bad uh?). (If I had found this out in May, the interest would have been $180!!!) .

They rang me later in the day saying that it was system error (they mean their banking computer software) and also due to "human error". Ummm... human error.

Worrying:

1. They cannot explain what exactly happened to the account.

2. An ad hoc decision to credit my account with $1000, i.e without knowing what had happened. i.e they lost $160.

3. It seems customers account is easily manipulated by junior clerks due to the system design fault or/and system malfunction.

4. Human error - what human error? Do they mean someone in the bank stole the money?

Needless to say, I closed the account.

It is difficult for any bank to deal with this problem as this is double edged; if they admit openly that they have the system problems or that someone in the bank stole the money, and carry out an investigation and declare they fixed the problems, this would cause more concerns to the customers and to the society they try to serve. So we will never know what they will do, or have done about it.

[Daveroc]

bkkjoe, sorry to hear of your experience. As a member of the staff of BBL working with Expat clients, I would appreciate if you could PM me in order that I can investigate this further and provide you with a more creditable response.