Opening A New Bank Account In Thailand

[MadMac]

Go to UOB at Suk 4. Best service you can get, mostly empty branch, they speak english, and they even jump at you sometimes when you enter. Best bank ever in TH.

Forget the script kiddies at Bangkok Bank.

[MaxwellsDemon]

Since UOB is not a thai bank, do you get charged extra when you withdraw at non-UOB ATMs? Just curious.

[MadMac]

Since UOB is not a thai bank, do you get charged extra when you withdraw at non-UOB ATMs? Just curious.

Not sure where you go this from. According to their last annual report:

"The United Overseas Bank (Thai) Public Company Limited

(“UOB (Thai)”) was incorporated in November 2005 following

the merger of the Bank of Asia and UOB Radanasin Bank.

UOB (Thai) is a fully-licensed commercial bank."

http://www.uob.co.th...AR_ENG_2011.pdf

Edited July 17, 2012 by MadMac

[MaxwellsDemon]

Huh. I grew up always thinking UOB was a Singaporean bank. And their presence in Thailand to me seems pretty slim.

[MadMac]

Huh. I grew up always thinking UOB was a Singaporean bank. And their presence in Thailand to me seems pretty slim.

Basically it is, similarly to other banks based overseas.

That's an interesting question nevertheless, as when it comes to the 400k/800k required for Extension of Stay, these have to be deposited in "Thai Banks". The same question popped up elsewhere, if Standard Chartered would be a "real" Thai Bank. Because if not you cannot park the deposit there for the last 3 months before getting that stamp.

According to Wiki both UOB and SC are "Thai Banks", but that's just Wiki everyone can edit.

http://en.wikipedia.org/wiki/List_of_banks_in_Thailand

Not sure if there is an official list from Thai Immigration that lists Banks that are accepted.

[Sophon]

Huh. I grew up always thinking UOB was a Singaporean bank. And their presence in Thailand to me seems pretty slim.

Basically it is, similarly to other banks based overseas.

That's an interesting question nevertheless, as when it comes to the 400k/800k required for Extension of Stay, these have to be deposited in "Thai Banks". The same question popped up elsewhere, if Standard Chartered would be a "real" Thai Bank. Because if not you cannot park the deposit there for the last 3 months before getting that stamp.

According to Wiki both UOB and SC are "Thai Banks", but that's just Wiki everyone can edit.

http://en.wikipedia....nks_in_Thailand

Not sure if there is an official list from Thai Immigration that lists Banks that are accepted.

There is no requirement that the funds has to be in a Thai bank, the rules says that they have to be in "a bank in Thailand". So Thai branches of foreign banks will count.

Sophon

[4evermaat]

i recently opened bank account at Kasikorn Bank, Chumphon Town. I was a bit nervous because there is only one in the town, but they make that one fully staffed. Several tellers and customer service desks open, but every station was full. They use that automated queuing system, but still had to wait maybe 1/2 hour to be served as there were several people in front. Had gf with me, but no requirement to show anything other than passport. (no work permit or any additional documentation requested from me or gf; they did not make a copy of my visa page either and didn't seem to be concerned about what visa I had). Standard 500 deposit minimum + 300 for visa debit card. I also got a second account with no atm card attached as part of the strategy to keep funds extra secure with ability to move funds quickly between atm vs non atm account.

With the debit card, i ended up getting the K-Max debit card for an additional 550 (per year) that includes the 5,000 baht accident insurance. Apparently there is no limit to the number of accidents you are allowed to have. If purchased separately, it is 2500 bt for the accident insurance. The rep tried to sell me the 2500 bt one, and I had to say it was only 500 baht. She did some checking with another rep and they confirmed that it is 550 when you do it in conjunction with a [new] debit card (I could not confirm for existing debit card holders.

The applications that they had appear to be 100% thai, so I do the 'sign only at the bottom' thing and they fill in the blanks. Make sure to check the printed application carefully before signing it. That one has your information pre-filled. Make sure things like your name are spelled correctly. she wrote the address in thai, so I have no idea how online purchases will go.

Internet banking and sms alerts can be signed up via ATM. You must wait 24 hours before getting your login pin, I guess to prevent fraud. I hope that is only for the first service. I'm guessing I may still have to have the second account manually added to the internet banking. One tip is to sign up for a bundle package; it might save you time (k-cyber banking + mobile banking + spending alerts + virtual spend card. It seems like every service is treated separately

A couple of things to look out for: they did not have a single pamphlet in english. I guess that's every thai bank i remember

now that I think about it, tourist area or not. Only the brand name of the product is in english. The queuing system and most of the signs were dual language, though. I remember the bangkok bank has many account related forms and some pamphlets in dual language.

K-bank seems to have a culture of its own that doesn't feel strictly like a bank. It could be the color scheme and layout of some of the furniture that seemed cozy. Maybe it was the representatives were more lively that normal. There were several only in k-bank t-shirt and jeans. Maybe it was that one (or two) in the tight lace mini skirt conveniently walking around couriering documents and stuff . Their flat screen tvs advertise various financial service products and even show some movie clips/skits. I guess the point is that it wasn't as boring as a trip to the bank normally is. Most other thai banks I go into it's much more machine-like atmosphere. This is not a bad thing per-say (after all, it's a bank).

No freebies for opening the account. Bangkok bank gave me a bag and TMB gave me an umbrella. Is that only in tourist areas? or seasonal?

Took about 1/2 hour to setup everything once we got to a representative: 2 savings accounts, one with k-max card with accident insurance.

[craigt3365]

A post has been removed that violated forum rules. No lobbying of other Thaivisa members.

[wael]

Hi all,

I have a USA company ( which is not registered in Thailand ) & my company works in import & export. I want to open a Thai bank account for my USA company, so please advise which bank should I go to, and which branch if possible.

NOTE: I am NOT US citizen, and I will go to Thailand with a tourist visa.

Kindly advise urgently & thanks in advance.

Regards,

Wael

[saengsureeya]

I didn't read all the posts on this, but it seems that there will be restrictions for foreigners to open bank-accounts from 21-8-2012 on wards.

Any news or updates?

[c0mm0n]

Stricter rules for foreigners’ bank accounts

http://pattayatoday.net/news/latest-edition/stricter-rules-for-foreigners%E2%80%99-bank-accounts/

[Ivantheterrible]

Do you guys think this will actually be enforced? So often restrictions and laws in the 3rd world are passed, but never actually enforced. Could this be just another one of those?

Will it still be a branch by branch thing, or do you really think most (all??) branches will really crack down on this? If so, will it be impossible to get a bank account on a tourist visa?

[MaxwellsDemon]

Do you guys think this will actually be enforced? So often restrictions and laws in the 3rd world are passed, but never actually enforced. Could this be just another one of those?

Will it still be a branch by branch thing, or do you really think most (all??) branches will really crack down on this? If so, will it be impossible to get a bank account on a tourist visa?

It's hard to say, of course, but they do state a 500k baht fine for banks that ignore the new rule, which I don't think many banks will want to risk.

[McMagus]

I had nothing but trouble with SCB, they were tools ! Like 'How many times do I need to give you my frickin work permit, passport, etc etc etc. In my experience they were totally incompetent but do so with a smile and a wai. I have had nothing but good stuff happening from Bangkok Bank.. even though now I do not have a work permit. Passport and some money. As an aside and slightly off topic... for god's sake don't lose your passbook....you know, those things the rest of the world got rid of yonks ago... if you do its easier to just open a new account.

[Debothai]

I just asked today at SCB and they said, work permit and passport is needed. I lied to them that I would be depositing 1 million baht, and that got their attention. The pretty girls were all sweet smiles and the manager was also smiling. One of the ladies took my mobile number also. They will call me next week to fix a preferential interest rate.

[chiang mai]

I just asked today at SCB and they said, work permit and passport is needed. I lied to them that I would be depositing 1 million baht, and that got their attention. The pretty girls were all sweet smiles and the manager was also smiling. One of the ladies took my mobile number also. They will call me next week to fix a preferential interest rate.

That's funny, one million baht is virtually chump change to most banks in Thailand so don't be surprised if you don't get that preferential call.

[ttnice30]

i recently opened bank account at Kasikorn Bank, Chumphon Town. I was a bit nervous because there is only one in the town, but they make that one fully staffed. Several tellers and customer service desks open, but every station was full. They use that automated queuing system, but still had to wait maybe 1/2 hour to be served as there were several people in front. Had gf with me, but no requirement to show anything other than passport. (no work permit or any additional documentation requested from me or gf; they did not make a copy of my visa page either and didn't seem to be concerned about what visa I had). Standard 500 deposit minimum + 300 for visa debit card. I also got a second account with no atm card attached as part of the strategy to keep funds extra secure with ability to move funds quickly between atm vs non atm account.

With the debit card, i ended up getting the K-Max debit card for an additional 550 (per year) that includes the 5,000 baht accident insurance. Apparently there is no limit to the number of accidents you are allowed to have. If purchased separately, it is 2500 bt for the accident insurance. The rep tried to sell me the 2500 bt one, and I had to say it was only 500 baht. She did some checking with another rep and they confirmed that it is 550 when you do it in conjunction with a [new] debit card (I could not confirm for existing debit card holders.

The applications that they had appear to be 100% thai, so I do the 'sign only at the bottom' thing and they fill in the blanks. Make sure to check the printed application carefully before signing it. That one has your information pre-filled. Make sure things like your name are spelled correctly. she wrote the address in thai, so I have no idea how online purchases will go.

Internet banking and sms alerts can be signed up via ATM. You must wait 24 hours before getting your login pin, I guess to prevent fraud. I hope that is only for the first service. I'm guessing I may still have to have the second account manually added to the internet banking. One tip is to sign up for a bundle package; it might save you time (k-cyber banking + mobile banking + spending alerts + virtual spend card. It seems like every service is treated separately

A couple of things to look out for: they did not have a single pamphlet in english. I guess that's every thai bank i remember

now that I think about it, tourist area or not. Only the brand name of the product is in english. The queuing system and most of the signs were dual language, though. I remember the bangkok bank has many account related forms and some pamphlets in dual language.

K-bank seems to have a culture of its own that doesn't feel strictly like a bank. It could be the color scheme and layout of some of the furniture that seemed cozy. Maybe it was the representatives were more lively that normal. There were several only in k-bank t-shirt and jeans. Maybe it was that one (or two) in the tight lace mini skirt conveniently walking around couriering documents and stuff . Their flat screen tvs advertise various financial service products and even show some movie clips/skits. I guess the point is that it wasn't as boring as a trip to the bank normally is. Most other thai banks I go into it's much more machine-like atmosphere. This is not a bad thing per-say (after all, it's a bank).

No freebies for opening the account. Bangkok bank gave me a bag and TMB gave me an umbrella. Is that only in tourist areas? or seasonal?

Took about 1/2 hour to setup everything once we got to a representative: 2 savings accounts, one with k-max card with accident insurance.

It's not only in tourist areas or seasonal, It's normal for the Bank Branch to give the customer a complimentary gift after they opening the account with them.

[thaicruze]

You have to have a work permit.

If it's for the school to deposit, then the school can speak to the manager and tell them the WP is still in process or whatever and they can do it.

But, basically, no WP no bank account.

I opened my Bank Account without a Work Permit at Bangkok Bank main branch in Silom, but that was 8 years ago.

[theoldgit]

You have to have a work permit.

But, basically, no WP no bank account.

I opened my Bank Account without a Work Permit at Bangkok Bank main branch in Silom, but that was 8 years ago.

Interesting statement, do you have evidence to support your remark of "no WP no bank account"?

Like your good self I've had an account for a number of years, without a WP, and you will have read comments from other posters who have opened accounts over the last couple of months.

I think many people would be glad to see evidence of a change of requirements following the recent "crackdown".

[chiang mai]

You have to have a work permit.

If it's for the school to deposit, then the school can speak to the manager and tell them the WP is still in process or whatever and they can do it.

But, basically, no WP no bank account.

I opened my Bank Account without a Work Permit at Bangkok Bank main branch in Silom, but that was 8 years ago.

Nonesence, I open new bank accounts continuously and in the last two weeks have opened new accounts at UOB and Bangkok Bank in Chiang Mai and I've never had a work permit.

Note: I've previously held accounts at Bangkok Bank over the past eight years but have always closed them when I've moved or the usefulness of a particular product has expired.

[chiang mai]

i recently opened bank account at Kasikorn Bank, Chumphon Town. I was a bit nervous because there is only one in the town, but they make that one fully staffed. Several tellers and customer service desks open, but every station was full. They use that automated queuing system, but still had to wait maybe 1/2 hour to be served as there were several people in front. Had gf with me, but no requirement to show anything other than passport. (no work permit or any additional documentation requested from me or gf; they did not make a copy of my visa page either and didn't seem to be concerned about what visa I had). Standard 500 deposit minimum + 300 for visa debit card. I also got a second account with no atm card attached as part of the strategy to keep funds extra secure with ability to move funds quickly between atm vs non atm account.

With the debit card, i ended up getting the K-Max debit card for an additional 550 (per year) that includes the 5,000 baht accident insurance. Apparently there is no limit to the number of accidents you are allowed to have. If purchased separately, it is 2500 bt for the accident insurance. The rep tried to sell me the 2500 bt one, and I had to say it was only 500 baht. She did some checking with another rep and they confirmed that it is 550 when you do it in conjunction with a [new] debit card (I could not confirm for existing debit card holders.

The applications that they had appear to be 100% thai, so I do the 'sign only at the bottom' thing and they fill in the blanks. Make sure to check the printed application carefully before signing it. That one has your information pre-filled. Make sure things like your name are spelled correctly. she wrote the address in thai, so I have no idea how online purchases will go.

Internet banking and sms alerts can be signed up via ATM. You must wait 24 hours before getting your login pin, I guess to prevent fraud. I hope that is only for the first service. I'm guessing I may still have to have the second account manually added to the internet banking. One tip is to sign up for a bundle package; it might save you time (k-cyber banking + mobile banking + spending alerts + virtual spend card. It seems like every service is treated separately

A couple of things to look out for: they did not have a single pamphlet in english. I guess that's every thai bank i remember

now that I think about it, tourist area or not. Only the brand name of the product is in english. The queuing system and most of the signs were dual language, though. I remember the bangkok bank has many account related forms and some pamphlets in dual language.

K-bank seems to have a culture of its own that doesn't feel strictly like a bank. It could be the color scheme and layout of some of the furniture that seemed cozy. Maybe it was the representatives were more lively that normal. There were several only in k-bank t-shirt and jeans. Maybe it was that one (or two) in the tight lace mini skirt conveniently walking around couriering documents and stuff . Their flat screen tvs advertise various financial service products and even show some movie clips/skits. I guess the point is that it wasn't as boring as a trip to the bank normally is. Most other thai banks I go into it's much more machine-like atmosphere. This is not a bad thing per-say (after all, it's a bank).

No freebies for opening the account. Bangkok bank gave me a bag and TMB gave me an umbrella. Is that only in tourist areas? or seasonal?

Took about 1/2 hour to setup everything once we got to a representative: 2 savings accounts, one with k-max card with accident insurance.

It's not only in tourist areas or seasonal, It's normal for the Bank Branch to give the customer a complimentary gift after they opening the account with them.

Big sigh, no it's normal to recieve a gift every time you open a new bank account!

[pmarlin]

You have to have a work permit.

If it's for the school to deposit, then the school can speak to the manager and tell them the WP is still in process or whatever and they can do it.

But, basically, no WP no bank account.

I opened my Bank Account without a Work Permit at Bangkok Bank main branch in Silom, but that was 8 years ago.

Tell that to the thousands of Non "O" retired living in Thailand. Think you got this one wrong.

[ttnice30]

i recently opened bank account at Kasikorn Bank, Chumphon Town. I was a bit nervous because there is only one in the town, but they make that one fully staffed. Several tellers and customer service desks open, but every station was full. They use that automated queuing system, but still had to wait maybe 1/2 hour to be served as there were several people in front. Had gf with me, but no requirement to show anything other than passport. (no work permit or any additional documentation requested from me or gf; they did not make a copy of my visa page either and didn't seem to be concerned about what visa I had). Standard 500 deposit minimum + 300 for visa debit card. I also got a second account with no atm card attached as part of the strategy to keep funds extra secure with ability to move funds quickly between atm vs non atm account.

With the debit card, i ended up getting the K-Max debit card for an additional 550 (per year) that includes the 5,000 baht accident insurance. Apparently there is no limit to the number of accidents you are allowed to have. If purchased separately, it is 2500 bt for the accident insurance. The rep tried to sell me the 2500 bt one, and I had to say it was only 500 baht. She did some checking with another rep and they confirmed that it is 550 when you do it in conjunction with a [new] debit card (I could not confirm for existing debit card holders.

The applications that they had appear to be 100% thai, so I do the 'sign only at the bottom' thing and they fill in the blanks. Make sure to check the printed application carefully before signing it. That one has your information pre-filled. Make sure things like your name are spelled correctly. she wrote the address in thai, so I have no idea how online purchases will go.

Internet banking and sms alerts can be signed up via ATM. You must wait 24 hours before getting your login pin, I guess to prevent fraud. I hope that is only for the first service. I'm guessing I may still have to have the second account manually added to the internet banking. One tip is to sign up for a bundle package; it might save you time (k-cyber banking + mobile banking + spending alerts + virtual spend card. It seems like every service is treated separately

A couple of things to look out for: they did not have a single pamphlet in english. I guess that's every thai bank i remember

now that I think about it, tourist area or not. Only the brand name of the product is in english. The queuing system and most of the signs were dual language, though. I remember the bangkok bank has many account related forms and some pamphlets in dual language.

K-bank seems to have a culture of its own that doesn't feel strictly like a bank. It could be the color scheme and layout of some of the furniture that seemed cozy. Maybe it was the representatives were more lively that normal. There were several only in k-bank t-shirt and jeans. Maybe it was that one (or two) in the tight lace mini skirt conveniently walking around couriering documents and stuff . Their flat screen tvs advertise various financial service products and even show some movie clips/skits. I guess the point is that it wasn't as boring as a trip to the bank normally is. Most other thai banks I go into it's much more machine-like atmosphere. This is not a bad thing per-say (after all, it's a bank).

No freebies for opening the account. Bangkok bank gave me a bag and TMB gave me an umbrella. Is that only in tourist areas? or seasonal?

Took about 1/2 hour to setup everything once we got to a representative: 2 savings accounts, one with k-max card with accident insurance.

It's not only in tourist areas or seasonal, It's normal for the Bank Branch to give the customer a complimentary gift after they opening the account with them.

Big sigh, no it's normal to recieve a gift every time you open a new bank account!

OK I get your point. It's only happens if the Bank opens a new branch at a Shopping Center for example and you opened Fixed Account 100,000 Baht and up, then they give you a complimentary gift.

[fletchsmile]

Just to share experiences on a couple of points above:

Standard Chartered, UOB and now CIMB have sort of a hybrid status. They have many of the rights of Thai banks, but still have a couple of restrictions, that "real" Thai banks don't necessarily have.

My Stan Chart account is accepted by immigration. The lady at immigration did ask why I banked with them though! On a bad day, I guess you could also get one that takes it a step further and wants to see a "real Thai" bank account, and imposes their own (incorrect) interpretation.

No you don't need a work permit to open a bank account, although it helps with staff of the bank who don't understand the rules. A non-immigrant visa with longer term (annual) extension will usually be enough, eg extension based on Thai wife or retirement.

So I guess you could say "there are rules, and then there are what people think or decide are rules" (including unfortunately sometimes the staff dealing with your bank account or immigration application on a particular day)...

Edited October 1, 2012 by fletchsmile

[ttnice30]

Just to share experiences on a couple of points above:

Standard Chartered, UOB and now CIMB have sort of a hybrid status. They have many of the rights of Thai banks, but still have a couple of restrictions, that "real" Thai banks don't necessarily have.

My Stan Chart account is accepted by immigration. The lady at immigration did ask why I banked with them though! On a bad day, I guess you could also get one that takes it a step further and wants to see a "real Thai" bank account, and imposes their own (incorrect) interpretation.

No you don't need a work permit to open a bank account, although it helps with staff of the bank who don't understand the rules. A non-immigrant visa with longer term (annual) extension will usually be enough, eg extension based on Thai wife or retirement.

So I guess you could say "there are rules, and then there are what people think or decide are rules" (including unfortunately sometimes the staff dealing with your bank account or immigration application on a particular day)...

Exactly.

[chiang mai]

UOB has a neat idea, when you open your first account they take a copy of your passport, then, if you want to open subsequent accounts or indeed transact on any of them, they always have that single copy of your passport on file to refer to. This may sound simple enough but it contrasts with BAY who need a new copy of your passport whenever you oppen a new account, close an existing account and with draw funds or indeed, withdraw funds above a certain level, exactly what they do with all the copies is a mystery but I sense they have been taking lessons from the Immigration Dept.!

[Charlie2012]

You have to have a work permit.

If it's for the school to deposit, then the school can speak to the manager and tell them the WP is still in process or whatever and they can do it.

But, basically, no WP no bank account.

I opened my Bank Account without a Work Permit at Bangkok Bank main branch in Silom, but that was 8 years ago.

You do NOT need a work permit at Bangkok Bank! I'm on a tourist visa and I opened an account at Bangkok Bank today. Just needed passport and a certified copy of my passport from the British Embassy (a driving licence is normally ok along with a passport, but mine is one of the old ones without a photo so I had to get the certified letter instead).

You can also open an account with them if you entered on the visa exemption or visa on arrival. It's all there in black and white in their Welcome Guide, so I assume this is the policy for every branch.

[pmarlin]

Opened a new savings account at K-Bank today, all I needed was my American Passport. No WP ,etc.

[Baxer]

Opened a new savings account at K-Bank today, all I needed was my American Passport. No WP ,etc.

In what branch?

[David48]

My Bank Account was opened 'indirectly' ...

I opened a Share Trading Account with a Thai Stock Broker.

To facilitate the Transfer of funds, that needed a Thai Bank Account.

They had an association with SCB from within their Office Building, signed a few forms and the Account was opened.

Was a few years ago, maybe 3 or 4 years.

All on a Visa Exempt stamp ...

.