Opening A New Bank Account In Thailand

[chiang mai]

I'm holding retirement visa. I don't have a Thai driver's license.

Then see the previous post for branches that are farang friendly.

[212traders]

By the way, my wife (also farang) has 2 accounts with K Bank. Since I cannot open an account in my name, then we asked whether she can open a 3rd account. They said no. They said the law has changed and that foreigners can no longer open bank accounts without work permits.

[chiang mai]

By the way, my wife (also farang) has 2 accounts with K Bank. Since I cannot open an account in my name, then we asked whether she can open a 3rd account. They said no. They said the law has changed and that foreigners can no longer open bank accounts without work permits.

"They" are wrong, there is no such law but we often hear similar stories where farangs run into bank staff who are too lazy or don't speak English well enough to be bothered to open the account, it's an easy way out for them. The answer is always the same, try a different branch and to that end, my earlier post will help.

[johnbrus]

Open a company bank account

The following documents are generally required for opening a company bank account:

• Passports and eventual work permits of the Director(s)
• Memorandum of Association of the company
• Commercial registration of the company
• Signature specimens of the authorized persons
• Minimum deposit.

Open a personal bank account

Foreigners can easily open a personal bank account in Thailand, only need to present themselves at a local bank with passport which has a visa and cash in hand. As many Thai banks still love to collect paperwork, so if you can additionally show a work permit, certificate of residence, a house registration document, it will probably speed up the application. If you get stuck in front of a hesitating bank employee, better go to present your application at another bank.

The most common account is the Thai Bath savings account, you will receive a passbook and a debit card. No statements through the post are issued. You can ask the bank to send you an SMS alert for every debit card transaction.

To obtain a local credit card, a foreigner will need to show a work permit, proof of stable income and probably a fixed deposit to guarantee the payments.

this is what I read at http://www.winvasia.com/financing-your-business-in-thailand/#.UmFE2lL0nEk

[bifftastic]

This is how you do it: Thread title:

You Can Open A Bank Account, bank accounts

http://www.thaivisa.com/forum/Open-Bank-Ac...25#entry1735189

But I did make a mistake

Damm - The queuing systems screen s in Bangkok Bank head office are at the back but to the right – sorry - PKRV

You must have a work permit or non immigrant visa now. (2009)

I have neither, but still managed to open an account and get internet access to it. Passport with a 30 day stamp, Bangkok Bank. Oh, and a wife who is a Thai national, and a nice bank manager

[212traders]

OK. I think I'll go to another bank tomorrow.

Another banking question: does Thai banks (i.e. K Bank) charge fee for incoming wire money? If so, how much?

[Patronus]

OK. I think I'll go to another bank tomorrow.

Another banking question: does Thai banks (i.e. K Bank) charge fee for incoming wire money? If so, how much?

K Bank charges 0.25% on incoming transfers plus 0.1% plus 20 Baht for transfer out of Bangkok. I think minimum 200, max 500.

Other charges here:-

http://www.kasikornbank.com/EN/RatesAndFees/Charges/ChargesDoc/FeeDeposit_EN.pdf

[212traders]

I looked at the link you've given. I cannot find the fee for incoming transfer. Which item is it?

[Patronus]

I looked at the link you've given. I cannot find the fee for incoming transfer. Which item is it?

It isn't. That link was, as stated, for other bank charges.

Incoming fund transfers are charged as I quoted , which I extrapolated from here:-

To transfer funds from overseas, the correspondent bank will charge the sender of funds; the charge rate will depend on the conditions of the correspondent bank.

The beneficiary will also be charged by KASIKORNBANK on the rate of 0.25% of the transferred amount (minimum 200 Baht and maximum 500 Baht). Therefore if you want the beneficiary to receive the full amount of money, you should add some extra amount for the fee when you make the transaction.

To transfer money to branches outside Bangkok and vicinity, there will be additional fees, which are leased line fee of 20 Baht per transaction, and 10 Baht for each 10,000 Baht transferred (minimum 10 Baht and maximum 750 Baht).

[212traders]

Thanks.

[elektrified]

By the way, my wife (also farang) has 2 accounts with K Bank. Since I cannot open an account in my name, then we asked whether she can open a 3rd account. They said no. They said the law has changed and that foreigners can no longer open bank accounts without work permits.

"They" are wrong, there is no such law but we often hear similar stories where farangs run into bank staff who are too lazy or don't speak English well enough to be bothered to open the account, it's an easy way out for them. The answer is always the same, try a different branch and to that end, my earlier post will help.

What is happening is that there is a crackdown by the government at the moment. Was just talking to my broker in BKK last week about it. Something about a new U.S. tax law as well as pressure from the E.U. over money laundering. They said soon it will be very difficult for foreigners to open brokerage accounts in Thailand anymore as well as restrictions on who can open bank accounts. Things like this happen every so often in Thailand and then, after a while - business as usual. Although I suspect the restrictions for Americans will not go away. There have been a few people who have tried opening bank accounts in C.M. the last couple of weeks who were denied in multiple branches, banks.

Many banks and brokerage firms in Thailand are already armed with U.S. tax forms for Americans to sign. I was a little shocked when I was presented with one. A sign of things to come.

[212traders]

Well, I went to the Bangkok Bank in Central Airport Plaza yesterday. They asked me what kind of visa I am on (retirement visa) and then just went ahead to give me an account. Also, early I went to my Kasikornbank trying to open a fixed savings account. They told me that foreigners are not allow to open this type of account. But yesterday I was able to open a fixed savings account with Bangkok Bank.

All and all, I am more pleased with the services of the Bangkok Bank.

[wari23]

is it possible to use some kind of creditcard bank system like it exist in germany ?

you can have a creditcard where you can arrange wires to ( so real bank account alike )

i own 3 forex accounts in europe & australia

exness.euro.lc & pepperstone.tk + bnp paribas

they use a creditcard system also same like payoneer

when i will be in bangkok i dont want to have any issues paying for things

[Hunor]

Hi All,

maybe a bit stupid question: I was, and asked many bank in BKK if it's possible to open a account with no work permit - but all of them say that is not possible (Kasikorn, Bangkok, CMB, Krungsri...) - and at change many peple say that is possible: so, sorry for this question but where I should go in Bkk to solve this issue, and have a account (with a debit card).

H

[chiang mai]

Read through the thread and you'll see that your question gets asked and answered very frequently!

Go to a bank in the tourist districts, Sukhumvit or Silom, etc and keep trying.

[212traders]

What visa did you use to enter Thailand?

[Hunor]

What visa did you use to enter Thailand?

Tourist visa - but before to show they told me: no work permit no bank account. And at meantime some thai friends also asked directly and they get the same answer.

H

[Hunor]

Today I get this reply from Kasikorn staff:

To open an account in case that you do not under Thai citizenship, you can contact any Kbank branch. There will be a required minimum deposit of account opening is 500 Baht for Saving Account.

Please submit the required documents as below; 1. Passport 2. Work permit or a copy of House Registration. (Over 3 months) 3. If you have other documents that can prove yourself, we suggest you to try to submit and let our representative consider them. Whether or not, it depends on the branch's consideration to approve your request for opening an account.

[Pib]

Today I get this reply from Kasikorn staff:

To open an account in case that you do not under Thai citizenship, you can contact any Kbank branch. There will be a required minimum deposit of account opening is 500 Baht for Saving Account.

Please submit the required documents as below; 1. Passport 2. Work permit or a copy of House Registration. (Over 3 months) 3. If you have other documents that can prove yourself, we suggest you to try to submit and let our representative consider them. Whether or not, it depends on the branch's consideration to approve your request for opening an account.

Nothing like company-wide standard policy--NOT!!! TIT

[andyphuket]

Today I went to open a bank account at Krungsri Bank. All I needed was my passport and a copy of my rental contract. Currently I'm on a tourist visa which I just extended. No problem at all.

I was offered both ATM Card and Internet banking, including the use of their app for my phone.

The branch I went to, is at the Victory Monument in Bangkok. Their service was excellent. 350 bht for the ATM card and free Internet banking.

Sent from my GT-I9305 using Thaivisa Connect Thailand mobile app

[Skint]

Hi,

Opened account at Kasikorn Bank in Central mall Pattaya.

Savings account with platinum debit card.

Passport with tourist visa and hotel address. All done in 15 minutes costing 800 baht.

I didn't open that account as only difference was the insurance which is not going to be valid if your a tourist.

Sent from my iPhone using Thaivisa Connect Thailand

[khaosai]

Hi,

Opened account at Kasikorn Bank in Central mall Pattaya.

Savings account with platinum debit card.

Passport with tourist visa and hotel address. All done in 15 minutes costing 800 baht.

I didn't open that account as only difference was the insurance which is not going to be valid if your a tourist.

Hi,

Which insurance was that. I can't remember any discussion on any particular insurance requirement when opening it.

[riclag]

I just opened a BBK Bank savings account.in Sakon Nakhon after being told by three other branches employees and managers

that along with a Passport I will need to be guaranteed by a government employee who can vouch for me.And also I needed a address of where I was staying . My GF's uncle guaranteed me today.The trick here is Bangkok Bank's policy is that a falang

must have someone with meaningful credentials and not just somebody that has no job what to speak of to represent them.

[fish fingers]

.

Edited December 1, 2013 by fish fingers

[fish fingers]

I walked into a Krungthai in central bangkok and said I was buying a condo and needed to transfer £75,000 from the UK to a thai account. I'm on a tourist Visa. They asked for my passport and my address in thailand and I had an account and Blue Diamond c/card in just over half an hr.

Very easy and quick.

Edited December 1, 2013 by fish fingers

[John 1]

I walked into a Krungthai in central bangkok and said I was buying a condo and needed to transfer £75,000 from the UK to a thai account. I'm on a tourist Visa. They asked for my passport and my address in thailand and I had an account and Blue Diamond c/card in just over half an hr.

Very easy and quick.

What is a Blue Diamond c/card or do you mean debit card?

[steve_dench]

Hi, I opened my account in Ang Thong with Kasikorn Bank. I was on a tourist visa and was not aked for any other documentation. I went to the bank with my Thai wife and we both opened separate savings accounts and deposite 10,000 Baht with no problem. I may have been lucky.

[paz]

Hi, I opened my account in Ang Thong with Kasikorn Bank. I was on a tourist visa and was not aked for any other documentation. I went to the bank with my Thai wife and we both opened separate savings accounts and deposite 10,000 Baht with no problem. I may have been lucky.

Not lucky. Kasikorn opens the account even on visa exempt passport. Edited December 2, 2013 by paz

[paz]

Hi,

Opened account at Kasikorn Bank in Central mall Pattaya.

Savings account with platinum debit card.

Passport with tourist visa and hotel address. All done in 15 minutes costing 800 baht.

I didn't open that account as only difference was the insurance which is not going to be valid if your a tourist.

Hi,

Which insurance was that. I can't remember any discussion on any particular insurance requirement when opening it.

They may have just skipped as you are a foreigner and there is no english documents about it. Anyway even if cheap the coverage is also extremely limited and as mentioned above may not apply to us. Edited December 2, 2013 by paz

[asiaexpat]

I walked into a Krungthai in central bangkok and said I was buying a condo and needed to transfer £75,000 from the UK to a thai account. I'm on a tourist Visa. They asked for my passport and my address in thailand and I had an account and Blue Diamond c/card in just over half an hr.

Very easy and quick.

What is a Blue Diamond c/card or do you mean debit card?

Blue Diamond is a smart card (debit card) that can be used to purchase items at various shops as well as and ATM card. Most banks have this type of card.