Opening A New Bank Account In Thailand

[NoshowJones]

I have heard from many people that claim to have opened a bank account with no more than a passport. I have heard the passport and a letter from the embassy. I got denied at Siam Commercial Bank in the mall with a current non O visa, a letter of employment (not in thailand), Thai drivers license, a letter from the embassy, and my wife standing there with her account book from that bank. I have come to the conclusion that it is only the branch you go to as to weather they will give you an account or not. It has been about 2 years since I tried last. I am coming home in a couple of weeks and want to try again. Can everyone who has a bank account in BKK please leave me some info so I can make a list of places to try.

1) Branch name and location that let you open the account.

2) What documentation you had to provide to open the account.

KASIKORN BANK Seacon Square branches just take some money and passport SCB are no good there, the decision is down to the individual branch manager even if the banks policy is different.

Too many people have too much power in this country, and they just love it. Banks, Immigration offices etc. Some will some won't, some do some don't.

[rhodie]

Opened a bank account yesterday. Was politely refused at one bank and told new regulations require the need for a work permit. That was a bank in the Tesco centre at On Nut BTS in Bangkok.

Then went to the Big C Centre near On Nut BTS and tried Kasikorn Bank. Asked for work permit but I said I did not have one. I called over the GF and they copied the GF's ID and set the account up for me. I am on a 30 day waver, no visa.

Only cost was 400 for the ATM card. No insurance or anything else mentioned. So if you have a Thai with you, just use their ID as some sort of "sponsor" I suppose.

[andyww]

My sister in law is a manager of a Bangkok bank branch. She stated categorically that no bank in Thailand would ever open an account without a work permit, and only a passport entry stamp.

Which goes to show you can never believe anything anyone says here because that's exactly what I did yesterday, in Kbank in Royal Garden Plaza, Pattaya.

They did insist on the insurance policy some people have mentioned. This is because the staff get commission on it, nothing to do with any rule stating you have to have it. I didnt have any problem with it, it's a one off cost only unless renewed.

The whole process was amazingly efficient, walked out in 20 mins with ATM/debit card, passbook and Internet banking login. password was emailed today. Puts UK banks to shame.

Edited January 7, 2014 by andyww

[Hunor]

Hi All,

last week I opened savings account, and FCD too at Krungsi, Rangsit. Was enough passport, no work permit needed.

I have two questions - hope somebody can give advices:

- at all documents I used my full name (2 surnames), and it's so in my passport too, but they forget one of them. Should I go back and asking to correct this, or is not a important issue?

- at my FCD contract is mentioned that tax-code=6, 15% - this does mean taxes after rate income, or?

Thanks!

Edited January 7, 2014 by Hunor

[TallGuyJohninBKK]

Re the name issue, I'd think you ought to at least ask the bank staff about it...to see why they didn't use your full and correct name as shown on your passport. If they made a mistake, then it probably should be corrected. But perhaps your full name was too long for some data field they are using, so they needed to shorten the entry. Generally, you want the name on your bank documents to exactly match your passport.

Re the tax issue, 15% is the standard Thai bank withholding amount on accounts over a certain value threshhold, I think from memory, based on how much interest the account is expected to earn during a year. If they do deduct withholding on your interest, I believe, there's also a procedure for farang account holders to file for a refund on those amounts. Do a search here for threads on the subject. There have been a lot.

[Hunor]

Thanks for they reply.

I opened this account to transfer funds from Europe (maybe for a condo), but I have no income in Thailand, I'm non-resident, I stay less as 183 days, so I think in that case I should not to pay any tax.

I will look after other threads, and will happy if I get any other answer about this issues.

Thanks again!

[meatboy]

Thanks for they reply.

I opened this account to transfer funds from Europe (maybe for a condo), but I have no income in Thailand, I'm non-resident, I stay less as 183 days, so I think in that case I should not to pay any tax.

I will look after other threads, and will happy if I get any other answer about this issues.

Thanks again!

make sure you send the funds in the currency of europe eg.gbp.or euro by swift transfer then you will get t.t.rate do not send in bahts.also say what the money is for otherwise it will be returned.sounds like you opened a current acc.so no tax will be deducted unless you put it in a short term fixed acc.if you are going to hold on to it,for say about 5months better off putting it in a fixed term

1million bht over 5months at around 3% will earn you enough for a good night out .

[phiber]

Opened a bank account yesterday. Was politely refused at one bank and told new regulations require the need for a work permit. That was a bank in the Tesco centre at On Nut BTS in Bangkok.

Then went to the Big C Centre near On Nut BTS and tried Kasikorn Bank. Asked for work permit but I said I did not have one. I called over the GF and they copied the GF's ID and set the account up for me. I am on a 30 day waver, no visa.

Only cost was 400 for the ATM card. No insurance or anything else mentioned. So if you have a Thai with you, just use their ID as some sort of "sponsor" I suppose.

Did you read the documents in english? The ones where they wrote her ID?

[CeeBee]

Has anybody recently opened an account with CIMB or LH bank without a work permit?

[topt]

Has anybody recently opened an account with CIMB or LH bank without a work permit?

I opened a fixed savings account with CIMB about 6/8 months ago without a work permit in Pattaya.

[CeeBee]

Thanks topt

Where is the Pattaya location, please? I will be there next month.

[khaosai]

Thanks topt

Where is the Pattaya location, please? I will be there next month.

Hi,

Try Kasikorn Bank in the central shopping mall in Pattaya.

[CeeBee]

I already have a KBank account - but want to diversify.

[212traders]

If you are from US, Bangkok Bank will be a good choice to diversify. It has a US banking routing number. So transferring money to it from US will be like transferring to another US bank. Very easy.

[riclag]

If you are from US, Bangkok Bank will be a good choice to diversify. It has a US banking routing number. So transferring money to it from US will be like transferring to another US bank. Very easy.

I set up my USA bank account for transferring money to my GF's account at Bangkok Bank in Thailand via the Bangkok Bank of New York..

Originally I wasn't able to open a account at the Bangkok Banks in Issan because I couldn't meet there requirement of a Government official sponsoring me but since then I spoke to her uncle (professor at the University) and he sponsored me,so now I have an account, I send the money from my USA account to New York BKB on Ach transfer (3 business days) for $3.00. the New York BKB charges $5 for under $3,000 transfer fee. The total fee is $8.oo . Also conversion of USA dollar to Thai Baht at the daily Bangkok Bank exchange rate in Thailand. I also have a Kasikorn Bank account.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx.

Edited January 23, 2014 by riclag

[Pib]

If you are from US, Bangkok Bank will be a good choice to diversify. It has a US banking routing number. So transferring money to it from US will be like transferring to another US bank. Very easy.

I set up my USA bank account for transferring money to my GF's account at Bangkok Bank in Thailand via the Bangkok Bank of New York..

Originally I wasn't able to open a account at the Bangkok Banks in Issan because I couldn't meet there requirement of a Government official sponsoring me but since then I spoke to her uncle (professor at the University) and he sponsored me,so now I have an account, I send the money from my USA account to New York BKB on Ach transfer (3 business days) for $3.00. the New York BKB charges $5 for under $3,000 transfer fee. The total fee is $8.oo . Also conversion of USA dollar to Thai Baht at the daily Bangkok Bank exchange rate in Thailand. I also have a Kasikorn Bank account.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx.

Correction on the fee amounts. The Bangkok Bank "NY branch" fee for $3000 is $10 (see their fees in the link you gave) and then on the receiving end in-Thailand Bangkok Bank branch there is a 0.25% (Bt200 min, Bt500 max) fee. As the $3000 flows through the NY branch the $10 fee is slice off, $2,990 continues on to your in-Thailand branch where the 0.25% fee is applied which would be $7.48 for $2,990. $7.48 + $10 + your Sending bank fee of $3 (sounds like Bank of America) and the total fee is $20.48.

For amounts of $100.01 to $2,000 the NY branch fee is $5. Maybe you meant to say $2000 instead of $3000. And don't forgot the 0.25% (Bt200 min, Bt500 max) on the Thailand end regardless of amount (excluding ACH trial deposits which are free).

[Duriana]

The Kasikorn Bank's branch at Tesco Lotus on Sukhumvit Rd. in Pattaya or the branch right aside TukCom open ordinary accounts on the base of tourist visa.

[riclag]

If you are from US, Bangkok Bank will be a good choice to diversify. It has a US banking routing number. So transferring money to it from US will be like transferring to another US bank. Very easy.

I set up my USA bank account for transferring money to my GF's account at Bangkok Bank in Thailand via the Bangkok Bank of New York..

Originally I wasn't able to open a account at the Bangkok Banks in Issan because I couldn't meet there requirement of a Government official sponsoring me but since then I spoke to her uncle (professor at the University) and he sponsored me,so now I have an account, I send the money from my USA account to New York BKB on Ach transfer (3 business days) for $3.00. the New York BKB charges $5 for under $3,000 transfer fee. The total fee is $8.oo . Also conversion of USA dollar to Thai Baht at the daily Bangkok Bank exchange rate in Thailand. I also have a Kasikorn Bank account.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx.

Correction on the fee amounts. The Bangkok Bank "NY branch" fee for $3000 is $10 (see their fees in the link you gave) and then on the receiving end in-Thailand Bangkok Bank branch there is a 0.25% (Bt200 min, Bt500 max) fee. As the $3000 flows through the NY branch the $10 fee is slice off, $2,990 continues on to your in-Thailand branch where the 0.25% fee is applied which would be $7.48 for $2,990. $7.48 + $10 + your Sending bank fee of $3 (sounds like Bank of America) and the total fee is $20.48.

For amounts of $100.01 to $2,000 the NY branch fee is $5. Maybe you meant to say $2000 instead of $3000. And don't forgot the 0.25% (Bt200 min, Bt500 max) on the Thailand end regardless of amount (excluding ACH trial deposits which are free).

Sorry Poster 617, I posted $5 fee for under $3000.I should of made it clearer $1.00 - $2999.99.I have to call the NY branch .I assumed that it was just the $5.00 fee because when I send the money I always include an extra $5 for the fee .I always check the exchange rate for my $1700 .I found it rather confusing to figure what the exchange rate was for the ACH 3 days it takes to post in my account in BKK Bank Thailand.I was using the banks conversion chart the day it posted in Thailand . It always is the same amount on the exchange chart when I did the math for that day..Oh Well

[Pib]

Sorry Poster 617, I posted $5 fee for under $3000.I should of made it clearer $1.00 - $2999.99.I have to call the NY branch .I assumed that it was just the $5.00 fee because when I send the money I always include an extra $5 for the fee .I always check the exchange rate for my $1700 .I found it rather confusing to figure what the exchange rate was for the ACH 3 days it takes to post in my account in BKK Bank Thailand.I was using the banks conversion chart the day it posted in Thailand . It always is the same amount on the exchange chart when I did the math for that day..Oh Well

Here's how the Bangkok Bank fees are applied. Let's assume you tell your sending bank to send $1700. Now you mentioned your sending bank charges a $3...but that is a separate charge to your account and does not affect the $1700 being sent. As the $1700 goes through Bangkok Bank they would slice off their $5 fee for this amount and $1695 continues on to your in-Thailand Bangkok Bank branch. The local branch now applies the exchange rate in effect at the time...let's say its an even 33 baht/USD. OK, 1,695 times 33 equals Bt56,034. Now the branch will apply the 0.25% (Bt200 min, Bt500 max) currency receipt/conversion fee. 0.25% of Bt56,034 equals Bt140.085...since that is below the Bt200 minimum the Bt200 fee is applied. Bt200 is deducted from the Bt56,034 which equals Bt55,834 being posted to your account. Neither the NY branch or local branch fee will appear anywhere on your Bangkok Bank or sending bank account statement/passbook....since they don't appear sometimes people think no fees were applied...but the fees were indeed applied....just not included on any account statement/passbook. However, if you have your account setup to receive the SMS International Remittance it will show you the amount rec'd at the local branch (remember, it will be lite the NY branch fee), the local fee, the exchange rate rec'd, and the amount and time of posting to your account.

Edited January 25, 2014 by Pib

[riclag]

Thanks PIb, I just set up my account to receive the sms alert..

[aurelius]

Bangkok Bank has finally got a version of their internet banking in the iPhone App Store - I loaded it - quick and easy to use.

[craigm16]

Do you really need a work permit to open a bank account? My wife has asked in serveral different branches for me and gets the same answer every time ?? Or is it just luck on the day.

[theoldgit]

Do you really need a work permit to open a bank account? My wife has asked in serveral different branches for me and gets the same answer every time ?? Or is it just luck on the day.

If a bank will not open an account for a retiree or person married to a Thai without a work permit, maybe ask the person how you can comply with The Thai Immigration requirement of demonstrating funds in a Thai account, especially as you are not allowed to work?

Or easier still, go to another bank.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[Pib]

Do you really need a work permit to open a bank account? My wife has asked in serveral different branches for me and gets the same answer every time ?? Or is it just luck on the day.

If a bank will not open an account for a retiree or person married to a Thai without a work permit, maybe ask the person how you can comply with The Thai Immigration requirement of demonstrating funds in a Thai account, especially as you are not allowed to work?

Or easier still, go to another bank.

Sent from my iPad using Thaivisa Connect Thailand mobile app

Do you think a Thai bank cares about farang immigration requirements?

[craigm16]

Sadly I'm not retired about 40 years away yet. We come over to Thailand about twice a year so my wife can visit family etc and I'd rather have a bank account instead of carrying around loads of baht.

Just not having much luck at the minute.

[theoldgit]

Do you really need a work permit to open a bank account? My wife has asked in serveral different branches for me and gets the same answer every time ?? Or is it just luck on the day.

If a bank will not open an account for a retiree or person married to a Thai without a work permit, maybe ask the person how you can comply with The Thai Immigration requirement of demonstrating funds in a Thai account, especially as you are not allowed to work?

Or easier still, go to another bank.

Sent from my iPad using Thaivisa Connect Thailand mobile app

Do you think a Thai bank cares about farang immigration requirements?

I don't suppose they do for one minute, but that's not what I said.

I suggested they ask for advice on how to comply with the governments regulation, I think the staff would be pleased that a foreigner asked for advice.

[theoldgit]

Sadly I'm not retired about 40 years away yet. We come over to Thailand about twice a year so my wife can visit family etc and I'd rather have a bank account instead of carrying around loads of baht.

Just not having much luck at the minute.

Just persevere, you will eventually find a member of staff that knows what they are doing, because that's what it boils down to.

I opened a second account at Kasikorn in Pattaya a couple of weeks ago, in and out in ten to fifteen minutes or so, the lass wasn't 100% what to do, so called her head office for advice.

I don't work so no work permit and no problem.

[TallGuyJohninBKK]

Sadly I'm not retired about 40 years away yet. We come over to Thailand about twice a year so my wife can visit family etc and I'd rather have a bank account instead of carrying around loads of baht.

Just not having much luck at the minute.

The answer is NO, you don't legally need a work permit to open a new bank account in Thailand. But, a lot of Thai banks and bank staff will take the position that you do...and that can make things difficult.

Since it sounds like you're essentially a twice a year tourist, I'd suggest you check with the BKK Bank branch at Siam Paragon.... From personal experience, they seem to understand the rules better.

In general, based on members' experience here, I'd say that BKK Bank and Kasikorn Bank tend to be the easiest to deal with in terms of avoiding the work permit hassle.

BKK Bank also has a website where they clearly list what is required for foreigners to open accounts with them. Basically, your passport and a government photo ID, at minimum.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx

In Thailand for a short time?

Even if you are only visiting Thailand for a relatively short period of time, you can open a savings account and get a debit card to use for shopping and ATM withdrawals. All you will need to provide is your passport and one other official identification document – for example, your driver’s license or a reference letter from your embassy, your home bank or a person acceptable to the bank.

You will also need to provide evidence of your address in Thailand as well as your regular address in your home country.

But as others have advised, there's no hard and fast policy even among difference branches of the same bank. If one says no, just go down the street and ask another. Eventually, you'll get a yes.

Taking your Thai wife with you, when you apply, probably also doesn't hurt. And you might consider applying at the same branch where she might already have an account, if she does.

Edited February 1, 2014 by TallGuyJohninBKK

[chiang mai]

Do you really need a work permit to open a bank account? My wife has asked in serveral different branches for me and gets the same answer every time ?? Or is it just luck on the day.

If a bank will not open an account for a retiree or person married to a Thai without a work permit, maybe ask the person how you can comply with The Thai Immigration requirement of demonstrating funds in a Thai account, especially as you are not allowed to work?

Or easier still, go to another bank.

Sent from my iPad using Thaivisa Connect Thailand mobile app

I did try using that logic a few years ago at L & H Bank, I wanted to open a Time Deposit with them and they insisted on a seeing my non-existent work permit, no work permit no account was the bottom line. When confronted with the logic above the response was, "go try another bank, every bank has their own rules, my bank doesn't accept foreigners without a work permit". Which of course is patently untrue but expect to hear a similar answer from others if you try that approach.

[theoldgit]

Ah the good old trying to apply logic angle, don't think it works with Thai banks.

I think it's little more than I don't know what to do, so cannot.