Opening A New Bank Account In Thailand

[JB300]

I have no problem using my Singapore Citibank card in any of the Thai banks (same can't be said of the banks in Singapore) but might be worth having a different banks ATM card in case of problems.

I can't recommend any particular bank, but would have thought you'd have no problems opening one as you have a work permit.

[The Fat Controller]

Just a small piece of useful information.

When registering for SCB Online Banking, you have to prefix your passport number with a country code even though there is also a drop-down list for the country of issue.

For UK citizens, enter GBRxxxxxxxxx

[laazers]

Opened an account in Citibank (Interchange 21) with the following documents:

1. Passport

2. Other bank card with your name on it.

3. Proof of address - a bill (I got a postpaid True connection for this) or a lease contract.

* Withdrawals from any ATM in Thailand are free of charge.

* Incoming payments are free of charge and their telex rate is used, which I can not say about Kasikorn :

"When Kasikornbank receive inward remittances, Kasikornbank will exchange them by using exchange rate on received date. After we exchange inward remittances, we will change for Global Inward fee 0.25% of them (minimum charge is 200 Baht and maximum change is 500 Baht). Furthermore, if beneficiary account is not located in Bangkok Metropolitan, Kasikornbank will charge for Domestic Transfer fee 0.10% of the amount (a minimum charge of 10 Baht) plus Lease Line fee 20 Baht per item."

[keithathome]

I'm here on a 30 day visitors visa but got a Bangkok Bank account in Chiang Mai 'cos I told them (truthfully) I wanted a account for my retirement money. Got internet banking as well. So far I have not made any transactions but tried to add an account (Thai) to transfer money to, They use a system of texting your Thailand registered phone number an OTP (one time password) to verify you are you before you can do anything. It does mean that you are limited as to what you can use your account for from abroad though. Also use the OTP if you want to change your username or password (through a menu at the ATM) Dunno if any of this is useful to anybody.

[Chivas]

SCB want a work permit to open one of their fixed rate deals despite me having another account with them for 12 years

[TallGuyJohninBKK]

I'm here on a 30 day visitors visa but got a Bangkok Bank account in Chiang Mai 'cos I told them (truthfully) I wanted a account for my retirement money. Got internet banking as well. So far I have not made any transactions but tried to add an account (Thai) to transfer money to, They use a system of texting your Thailand registered phone number an OTP (one time password) to verify you are you before you can do anything. It does mean that you are limited as to what you can use your account for from abroad though. Also use the OTP if you want to change your username or password (through a menu at the ATM) Dunno if any of this is useful to anybody.

If you have a new BKK Bank account with their debit card, make sure to use their automated telephone system or their ATM account settings menu to set/change the POS (Point of Sale purchase) daily limit on your card. (You can't set the POS limit in their online banking setup, unfortunately.)

You can turn POS off entirely or set it to a daily limit of like 50,000 baht on the lower end. By default, AFAIR, the bank's daily POS limit is much higher. And, if your card were lost or stolen, someone could go on quite a nice shopping spree with your card and effectively drain your account in a very short period of time. And you'd likely be held responsible for the fraudulent purchases.

Just to be clear, the POS limit is just for purchases with the card. It's separate and different from the daily limit on ATM cash withdrawals using the card.

[TallGuyJohninBKK]

Opened an account in Citibank (Interchange 21) with the following documents:

1. Passport

2. Other bank card with your name on it.

3. Proof of address - a bill (I got a postpaid True connection for this) or a lease contract.

* Withdrawals from any ATM in Thailand are free of charge.

* Incoming payments are free of charge and their telex rate is used, which I can not say about Kasikorn :

Unless you have CitiGold or higher status, I'd be very surprised if international funds transfers into Thailand into a Citibank Thai account are done without fees -- except for transfers to Citibank Thai from some other Asian country Citibank accounts.

Virtually all the Thai banks charge the 0.25% commission rate on incoming international funds transfers, usually capped at no more than 500 baht. And for most international transfers, there also are going to be foreign currency conversion fees and sometimes intermediary bank handling fees that will get taken out of your proceeds -- whether you realize it or not.

[TallGuyJohninBKK]

SCB want a work permit to open one of their fixed rate deals despite me having another account with them for 12 years

Chivas, I've run into that same issue with SCB. But AFAIK, it's actually not their official corporate policy.

It's something that's done/applied at the individual branch level. And in my experience with them, some/many branches will demand the work permit, while others, with a bit of persuasion and annual visa or extension, will be willing to open new accounts without one.

[TallGuyJohninBKK]

I'd go with Citibank as I believe transfers are free of charge between Citibank accounts & know ATM withdrawals are (then again, they're free if you used your Singapore Citibank card in a Citibank ATM in Thailand).

Thanks mate. I will be based/live in Bang Khun Thian district (specifically Samae Dam). Any idea if there is Citibank ATM there? I looked at the official website and it only mentions three branches in Silom, Sukhumvit and Central World. Nothing about ATMs.

Would be nice to be able to have the accessibility. In this case, better to go for a local bank? And keep Citibank for the occasional transfers?

AFAIK, Citibank Thai's ATM presence is limited to only their relatively few branch locations, including those you listed.

But, I presume, you should be able to use their Thai ATM card to make withdrawals from other Thai banks' ATMs, at least up to 4 or so free withdrawals per month.

[TallGuyJohninBKK]

Whedn i came to Thailand to reyire I was living wuth my Thai girlfriend in Lat prao, Bangkok.

The Bangkok Bank in that nieghborhood gave me all kinds of phoney excuses why it could not be done.

My Thai girlfriend had an account in another part of the city where some of her relatives lives.

I went to that Bangkok Bank branch where she had an account, and it was like being on a different planet.

In less than 30 minutes i had a new account, a ATM/debit card. and friendly service all around.

The Bangkok Bank branch I have found to be the friendliest was the branch on Soi 43 Sukhumvit Road. That's where I got my first account.

I have since opened another account with them, and my monthly pension is direct deposited from the U.S. to that account.

For some reason, they seem to deal with a lot of Farang customers, so I guess thay have nore experience in opening farang accounts.

To be fair though, when I opened my first account I had a Non O visa, not a tourist visa.

Under BKK Bank's own policy for opening accounts for foreigners, as listed on their website, they'll open new accounts with a tourist visa, provided you have proper identification such as a passport and some variety of second identification document such a driver's license.

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

[Rob Roy]

I agree with Chang paarp my Thai GF helped me open my bank account with Kasikorn bank. My passport, 1000 baht is the minimum u must keep in your account for any length of time to keep it active if you are going back home. My GF had to show her Thai ID Card. I cannot remember if she also took her house book but it was very simple indeed. Our branch is in Trat not Bangkok but I think you will not have too much problem. Let your GF do the talking unless you can speak fluent Thai. Good Luck to you. Oh! No waiting period account was opened there and then. I was given a Bank book in my name only!. Robroy.

[Rob Roy]

Sorry I forgot to say I am from the UK. Robroy.

[Rob Roy]

I also got an ATM CARD.

[Rob Roy]

My Thai girlfriend helped me open my Kasikorn account April/May 2014. I only had a Tourist Visa from the UK a Royal Thai Consulate. I am not sure if anything has changed over the last 12 months but I do not think it has. Yes I totally agree if anyone! Is going to any Bank to open an account for the first time or to Police Immigration it definately will look far far better in any Thai's eyes if you come to their place of business well dressed (long trousers & and a clean shirt and not shorts and an athletic vest) It does show them a degree of respect. Really it is common sence. I started my account with around 250,000 THB. The amount did not matter as long as you have your ID and your GF has hers.

[mosesk]

I want to relate my experience of trying to open and opening bank accounts in Thailand

Maybe someone will clarify for me what I should have learned or still need to learn or whether there is nothing to learn

I am American and have always had 30 day tourist visa upon entry.

I Was in thailand in March/April last year and didn't try to open bank account

March of this year, 2015, I first tried to open account in Ayutthaya, where my girlfriend was staying

I tried at 2 different banks, don't remember which, but 2 major banks, my girlfriend seems to remember they were Kasikorn and SCB, but it doesn't really matter

Neither one was willing to open an account and told me to try in Bangkok

A couple of weeks later I was in Surin area and was able to rather easily open 2 accounts at Kasikorn bank in the town of Prasat

One was a personal one for me

The other was a joint account for me and girlfriend which I was under the impression would allow her to withdraw money on her own, without my presence, signature or permission

I then left thailand on April 3

Fast forward to a few days ago

I am on Ko Samui and walk into Kasikorn bank on Chaweng and the first thing I find out is that the joint account I previously opened actually requires both of us to make a withdrawal.

Furthermore, they tell me they are unable to open a new account because I don't have a work visa or a 1 year visa

I did in fact withdraw all the money from that account

I couldn't "close" it because that can only be done at the branch ( or province?) where I opened it

But after no activity for 6 months it will close by itself

The other thing I did was set up internet access to my personal account

The next day I tried to set up accounts at 2 other banks- Krungthai and SCB and got the same story about being unable to open

My Thai girlfriend's presence didn't seem to matter or help the situation although we didn't push that point

The next day we had a Thai friend help us

She knew someone at the Bangkk Bank branch in Tesco Lotus in Chaweng and we were able to open 2 new accounts- one personal for me and the other a joint account giving girlfriend ability to withdraw on her own

Our Thai friend acted as some kind of "guarantor" for us but I'm not sure what responsibility that really entails for her

Of course we asked for Internet access and was told we would have it but we didn't without some further hoops

The next day We went to Bangkok Bank branch in Lamai and were able to get internet access to joint account although it would take 3 weeks

But they wouldn't give me internet access to my personal account telling me Bangkok Bank only allows internet access to one account per person

I'm now on Ko Phangan so I'll probably try to go to Bangkok bank branch in Thong Sala to see if they will give me internet access to my personal account since they might not even figure out I'm on a joint account

So I haven't really asked any questions in this post but several are implied

Any comments or suggestions or feedback?

[Pib]

Of course we asked for Internet access and was told we would have it but we didn't without some further hoops

The next day We went to Bangkok Bank branch in Lamai and were able to get internet access to joint account although it would take 3 weeks

But they wouldn't give me internet access to my personal account telling me Bangkok Bank only allows internet access to one account per person

So I haven't really asked any questions in this post but several are implied

Any comments or suggestions or feedback?

Regarding Internet access, the Thai wife and I here in Bangkok have 4 Bangkok Bank accounts between us at two different branches...2 joint accounts and 2 accounts in my name only. The joint accounts are "or" type vs "and" type accounts like you have. I'm American on a retirement extension of stay. I can access all 4 accounts via ibanking since they have my name and the wife can only access the 2 with her name.

[professor21]

by the way if I go to the Sukhumvit soi 33 branch of K bank or Bangkok Bank I don't need to pay the $50 fee to the US Embassy?

[mosesk]

Of course we asked for Internet access and was told we would have it but we didn't without some further hoops

The next day We went to Bangkok Bank branch in Lamai and were able to get internet access to joint account although it would take 3 weeks

But they wouldn't give me internet access to my personal account telling me Bangkok Bank only allows internet access to one account per person

So I haven't really asked any questions in this post but several are implied

Any comments or suggestions or feedback?

Regarding Internet access, the Thai wife and I here in Bangkok have 4 Bangkok Bank accounts between us at two different branches...2 joint accounts and 2 accounts in my name only. The joint accounts are "or" type vs "and" type accounts like you have. I'm American on a retirement extension of stay. I can access all 4 accounts via ibanking since they have my name and the wife can only access the 2 with her name.

[mosesk]

Some updates:

I went to Bangkok Bank branch in Thong Sala on Ko Phangan to try to get iBanking.

They turned me down saying I needed yet another "guarantor"

I just now went to Bangkok Bank branch in Patong on Phuket.

They will send user name via email.

And password via SMS to my Thai phone in 2 weeks.

I hope to still be n Thailand when they SMS it.

[Pib]

Some updates:o

I went to Bangkok Bank branch in Thong Sala on Ko Phangan to try to get iBanking.

They turned me down saying I needed yet another "guarantor"

I just now went to Bangkok Bank branch in Patong on Phuket.

They will send user name via email.

And password via SMS to my Thai phone in 2 weeks.

I hope to still be n Thailand when they SMS it.

It's my understanding it "not" the individual branch that does the final approval for ibanking but a HQ Bangkok Bank department that does the final application review and then issue of the User ID and password. Kinda like credit card applications....the bank branch taking your application can be supportive of the application and maybe even say it should be approved....but once again the the credit card dept at HQ Bangkok Bank that has the final approval authority and does the issue of card.

And when you say you went to branch X to get ibanking....are you really saying you went to branch X to open a bank account with ibanking. If you already have a bank account open you should go to the branch that opened/owns the account....however, it's not req'd you use your home branch but they are probably going to be more receptive to your request and they can get all the copies of req'd docs at that time. However, you can apply for ibanking three different ways: 1) online, 2) at an ATM, or 3) at any branch. See this Bangkok Bank webpage on how to apply for ibanking: Link

Just don't want you to think its a 100% done deal just because a branch accepted your paperwork...but wishing you luck your application is approved.

[mosesk]

That's a good explanation.

But the "facts" are that

1. The branch I opened the account at indicated iBanking would be approved

2.Trying to use ATM card the e I need to branc

3. I have already tried a couple of other branches a results have been posted

4. I am not aware online will work

[Saenchai]

I was at Bangkok Bank, main office at Silom and they will give me an account. Im on an extension of a visa exempt. They just want me to get a certified copy of my passport from my embassy.

They even have premade papers printed and put near the door to pickup where every reqirement is listed.

I make a scan later and post it here. But basically there is written that:

1. Farangs with worpermit need passport and workpermit (no copy) to show.

2. Farangs without workpermit (Tourists), on Non-O or Visa on arrival or exempt need either one of the following

a. certified copy of passport

b. letter of recommendation from either embassy or a known Thai-based company

Like said, this is the paper they give me after turning me down, i didnt have the passport copy with me. Then they handed me this paper and said if i come back with certified copy they open my account.

Good luck

[swampdonkey]

I was at Bangkok Bank, main office at Silom and they will give me an account. Im on an extension of a visa exempt. They just want me to get a certified copy of my passport from my embassy.

They even have premade papers printed and put near the door to pickup where every reqirement is listed.

I make a scan later and post it here. But basically there is written that:

1. Farangs with worpermit need passport and workpermit (no copy) to show.

2. Farangs without workpermit (Tourists), on Non-O or Visa on arrival or exempt need either one of the following

a. certified copy of passport

b. letter of recommendation from either embassy or a known Thai-based company

Like said, this is the paper they give me after turning me down, i didnt have the passport copy with me. Then they handed me this paper and said if i come back with certified copy they open my account.

Good luck

Do you know what they will accept for proof of address ?

[TallGuyJohninBKK]

The requirements also are listed on the BKK Bank website:

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

Click the tab that's titled "Required Documents".

[Saenchai]

Do you know what they will accept for proof of address ?

I brought the statement from my apartment. Theres my name and birthday written on it, as well as the apartments address. That was ok for them.

[KayCee]

Our experience from today - we currently have 4 different accounts between us at a Bangkok Bank branch in Bangkok - 2 fixed accounts for our visa extension funds to just sit in - one for me, one for my husband. And one joint savings account without an ATM card, and one joint savings account with an ATM card that we can use for daily needs without risking all our money if someone skimmed our card. We have online banking for all four accounts. This hasn't been a problem.

So today we go in and want to open a new savings account in my name alone for the purpose of a visa - we are willing to either bring in new money from the US for that account, or close my fixed account, if they don't want me to have a "new" account. They initially declined - no work permit. Showed them my one year extension on Non-immig. O visa (caretaker). Didn't care, still didn't want to do it. Long, polite conversation ensued about existing accounts, four years in Thailand, etc,. etc., ,manager was asked, they finally agreed to open it.

But, in addition to wanting a copy of my passport and visa (same as other times), they also wanted a copy of my Thai drivers license (probably for address -no problem). New one was they wanted a copy of my original US Social Security Card. I can only assume this is because of the annoying FACTA law, but they didn't ask for it a year ago when we opened the latest joint account. And they wouldn't accept a copy of the card, or the number being rattled off to them, they needed the original card - something I'm not sure many Americans tend to carry about with them. We had it in the safe at home, went to get it, and with that they opened it, but that was a new one for me.

[thaistocks]

Another good reason to state when opening a Thai bank account is that you want to invest in this country, through the Thai Stock Exchange (SET). As you must have a bank account in place so to collect the dividends. Thai brokers are not commercial banks and so can't endorse your Thai stock dividend checks.

[skatewash]

Our experience from today - we currently have 4 different accounts between us at a Bangkok Bank branch in Bangkok - 2 fixed accounts for our visa extension funds to just sit in - one for me, one for my husband. And one joint savings account without an ATM card, and one joint savings account with an ATM card that we can use for daily needs without risking all our money if someone skimmed our card. We have online banking for all four accounts. This hasn't been a problem.

So today we go in and want to open a new savings account in my name alone for the purpose of a visa - we are willing to either bring in new money from the US for that account, or close my fixed account, if they don't want me to have a "new" account. They initially declined - no work permit. Showed them my one year extension on Non-immig. O visa (caretaker). Didn't care, still didn't want to do it. Long, polite conversation ensued about existing accounts, four years in Thailand, etc,. etc., ,manager was asked, they finally agreed to open it.

But, in addition to wanting a copy of my passport and visa (same as other times), they also wanted a copy of my Thai drivers license (probably for address -no problem). New one was they wanted a copy of my original US Social Security Card. I can only assume this is because of the annoying FACTA law, but they didn't ask for it a year ago when we opened the latest joint account. And they wouldn't accept a copy of the card, or the number being rattled off to them, they needed the original card - something I'm not sure many Americans tend to carry about with them. We had it in the safe at home, went to get it, and with that they opened it, but that was a new one for me.

Same experience in regard to being required to show an original social security card when opening a Bangkok Bank account earlier this year. Apparently that is Bangkok Bank's interpretation of "knowing your customer" required by the odious FATCA. I too actually had the thing at home which surprised me upon finding it. Poor thing must have been 40 years old. This was in Phuket.

[TallGuyJohninBKK]

But, in addition to wanting a copy of my passport and visa (same as other times), they also wanted a copy of my Thai drivers license (probably for address -no problem). New one was they wanted a copy of my original US Social Security Card. I can only assume this is because of the annoying FACTA law, but they didn't ask for it a year ago when we opened the latest joint account. And they wouldn't accept a copy of the card, or the number being rattled off to them, they needed the original card - something I'm not sure many Americans tend to carry about with them. We had it in the safe at home, went to get it, and with that they opened it, but that was a new one for me.

I've opened various Thai bank accounts over the years, including some at BKK Bank in BKK post FATCA/FBAR.

Never been asked to produce or show my U.S. SSN card at any of them. Have had to write in my SSN number on the IRS form in recent years, but that was the extent of it.

IMHO, yours was another sad example of the Thai banking industry being wildly inconsistent in what they ask for and require in the account opening process, bank to bank, and even branch to branch within the same bank company.

[bearpolar]

bangkok bank is the only bank offering me a bank account without work permit. They only ask of a letter from immigration. That's it. WEnt twice and spoke to 2 person and they both said exactly the same.

Anyone knows whats the letter they are asking for? I made sure and its not from the embassy.