Opening A New Bank Account In Thailand

[sceadugenga]

I've had a Bangkok Bank account for more than 2 years now and was given an ATM card that only works in their own machines.

I was told at the time that it would soon become universal but that doesn't seem to have happened.

It's only a minor inconvenience but I wondered if it had happened and I missed something.....

you got the atm card with the chip inside. You can go to the branch with your bankbook and request a new atm card. The one without the chip. Say 'tam-a-daa'. Hold up one from a different bank (which will not have the chip) and request it. It should take about 20 min.

Thanks again, this is exactly what happened.

I'd like to add that it cost me 100B and any non-Bangkok Bank ATM transactions will also cost me that.

It's important to go to one of the main branches, I tried a shopping mall branch first and was told that I'd have to leave the card there for 2 weeks.

[scooterboy]

But to me, I wouldn't even try to open a KTB account as a foreigner as they seem to have very, very, very, very little interest in farang accounts.

I doubt it is company policy to treat foreigners as second-class customers, and my experience have been pretty good with KTB. Ive got my own account there with internet banking, referred two friends (to also get accounts on visa waiver stamps), gotten my foreign exchange letter for condo purchase, gotten a reference letter from the bank, etc.

But if you speak no Thai and have no-one to translate for you then I wouldnt be surprised if its an uphill battle.

Yes, can only confirm that KTB seem to "prefer" not to have foreigners in their bank. Naturally, it may be different at some of their branches.

At our branch they flatly refuse to open anything other than a basic account. They openly admit to not paying ANY interest whatsoever on foreigner accounts - take it or leave it. Too, their service (in this branch) is that they generally ignore the Q of customers, only servicing when they feel like it. The Qs can sometimes be very long.....

Fortunately, a new bank opened up not far away, where we now have several accounts - all paying the normal interest rates.

[mojavu]

whats the best bank for foreign then ?

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[skatewash]

whats the best bank for foreign then ?

Sent from my SM-G900H using Tapatalk

A lot depends on the particular branch you will be using. Some branches seem to be more adept at dealing with foreigners than other branches, probably because they already have many foreign customers. Some branches seem to have employees with better English skills than others (if that's an important consideration for you). You might also want to open your account at a larger rather than a smaller branch because you may find out that some things are easier to do at larger branches than smaller branches. Pick your home branch carefully as you may have to go back to that particular branch to do certain transactions or to obtain certain bank documents.

The importance of your home branch aside, I would say generally that I believe Bangkok Bank is the best bank for a foreigner to establish as his first (or possibly only) bank in Thailand. If you are American or British, Bangkok Bank has a unique mechanism to make transferring money from your home country to Thailand easy and fairly inexpensive. Additionally, they can set it up so that you receive an SMS message whenever there is a transfer of foreign funds into your account, which is a very nice feature to have. Bangkok Bank tends to have relatively high quality online information available in English. Their online banking is decent. As one of the largest banks they are well-served by having numerous branches and ATM machines.

When I first moved to Phuket, I opened a bank account at what turned out to be the main branch of Bangkok Bank in the city where I lived. They were used to dealing with foreign customers. The level of English spoken and understood was good. They held my hand throughout the process of establishing online banking for me (which included taking me to an ATM machine and making sure everything got set up correctly). When I left the first day I had a savings account, an ATM card, and was all set up for online banking. In short, I was treated well. Later on they were helpful in preparing my bank letter for retirement extensions at immigration. They were able to assist me with the bank letters needed for documenting the transfer of funds into Thailand for the purchase of a condo. They assist me ever year to get my documentation so that I can file my Thai tax return to get back the interest that has been withheld from my fixed rate deposits.

I have subsequently opened an additional account at Krungsri Bank, which I now use as my account for retirement extension, because they offered a more flexible and convenient savings account (Mee Tae Dai) than a standard fixed rate account and that paid comparable interest to a Bangkok Bank short-term fixed rate account. The Krungsri Bank is a much smaller branch than my Bangkok Bank branch and I find that it is less easy to communicate in English there. I've been treated well there, too, but there have been some minor glitches that I attribute mostly to miscommunication. They're not that adept at speaking English and I'm even less adept at speaking Thai. This year they made me come back the next day to pick up my immigration letter for my retirement visa. Bangkok Bank used to issue that to me while I waited. Again, that could simply be the difference between dealing with a main branch and a much smaller branch.

As an American I'm forced by my government (for FATCA and other know-your-customer nonsense) to fill out additional forms when I open an account at a Thai bank. More recently, Bangkok Bank actually wanted to see my US Social Security card before they would open a new account for me. I think that's the first time anyone has every asked to see my Social Security card. Luckily I was able to go home and get it. Not sure what would have happened if I were not able to produce it.

I'm happy with both banks. I don't have any experience with other Thai banks. I imagine that other Thai banks could do the same things that my banks do.

[ravip]

whats the best bank for foreign then ?

Sent from my SM-G900H using Tapatalk

A lot depends on the particular branch you will be using. Some branches seem to be more adept at dealing with foreigners than other branches, probably because they already have many foreign customers. Some branches seem to have employees with better English skills than others (if that's an important consideration for you). You might also want to open your account at a larger rather than a smaller branch because you may find out that some things are easier to do at larger branches than smaller branches. Pick your home branch carefully as you may have to go back to that particular branch to do certain transactions or to obtain certain bank documents.

The importance of your home branch aside, I would say generally that I believe Bangkok Bank is the best bank for a foreigner to establish as his first (or possibly only) bank in Thailand. If you are American or British, Bangkok Bank has a unique mechanism to make transferring money from your home country to Thailand easy and fairly inexpensive. Additionally, they can set it up so that you receive an SMS message whenever there is a transfer of foreign funds into your account, which is a very nice feature to have. Bangkok Bank tends to have relatively high quality online information available in English. Their online banking is decent. As one of the largest banks they are well-served by having numerous branches and ATM machines.

When I first moved to Phuket, I opened a bank account at what turned out to be the main branch of Bangkok Bank in the city where I lived. They were used to dealing with foreign customers. The level of English spoken and understood was good. They held my hand throughout the process of establishing online banking for me (which included taking me to an ATM machine and making sure everything got set up correctly). When I left the first day I had a savings account, an ATM card, and was all set up for online banking. In short, I was treated well. Later on they were helpful in preparing my bank letter for retirement extensions at immigration. They were able to assist me with the bank letters needed for documenting the transfer of funds into Thailand for the purchase of a condo. They assist me ever year to get my documentation so that I can file my Thai tax return to get back the interest that has been withheld from my fixed rate deposits.

I have subsequently opened an additional account at Krungsri Bank, which I now use as my account for retirement extension, because they offered a more flexible and convenient savings account (Mee Tae Dai) than a standard fixed rate account and that paid comparable interest to a Bangkok Bank short-term fixed rate account. The Krungsri Bank is a much smaller branch than my Bangkok Bank branch and I find that it is less easy to communicate in English there. I've been treated well there, too, but there have been some minor glitches that I attribute mostly to miscommunication. They're not that adept at speaking English and I'm even less adept at speaking Thai. This year they made me come back the next day to pick up my immigration letter for my retirement visa. Bangkok Bank used to issue that to me while I waited. Again, that could simply be the difference between dealing with a main branch and a much smaller branch.

As an American I'm forced by my government (for FATCA and other know-your-customer nonsense) to fill out additional forms when I open an account at a Thai bank. More recently, Bangkok Bank actually wanted to see my US Social Security card before they would open a new account for me. I think that's the first time anyone has every asked to see my Social Security card. Luckily I was able to go home and get it. Not sure what would have happened if I were not able to produce it.

I'm happy with both banks. I don't have any experience with other Thai banks. I imagine that other Thai banks could do the same things that my banks do.

Thank you for the very informative post.

Just one clarification, please.

"They were able to assist me with the bank letters needed for documenting the transfer of funds into Thailand for the purchase of a condo.

When transferring funds into Thailand to buy a condo, does the bank got to do anything special?

[skatewash]

whats the best bank for foreign then ?

Sent from my SM-G900H using Tapatalk

A lot depends on the particular branch you will be using. Some branches seem to be more adept at dealing with foreigners than other branches, probably because they already have many foreign customers. Some branches seem to have employees with better English skills than others (if that's an important consideration for you). You might also want to open your account at a larger rather than a smaller branch because you may find out that some things are easier to do at larger branches than smaller branches. Pick your home branch carefully as you may have to go back to that particular branch to do certain transactions or to obtain certain bank documents.

The importance of your home branch aside, I would say generally that I believe Bangkok Bank is the best bank for a foreigner to establish as his first (or possibly only) bank in Thailand. If you are American or British, Bangkok Bank has a unique mechanism to make transferring money from your home country to Thailand easy and fairly inexpensive. Additionally, they can set it up so that you receive an SMS message whenever there is a transfer of foreign funds into your account, which is a very nice feature to have. Bangkok Bank tends to have relatively high quality online information available in English. Their online banking is decent. As one of the largest banks they are well-served by having numerous branches and ATM machines.

When I first moved to Phuket, I opened a bank account at what turned out to be the main branch of Bangkok Bank in the city where I lived. They were used to dealing with foreign customers. The level of English spoken and understood was good. They held my hand throughout the process of establishing online banking for me (which included taking me to an ATM machine and making sure everything got set up correctly). When I left the first day I had a savings account, an ATM card, and was all set up for online banking. In short, I was treated well. Later on they were helpful in preparing my bank letter for retirement extensions at immigration. They were able to assist me with the bank letters needed for documenting the transfer of funds into Thailand for the purchase of a condo. They assist me ever year to get my documentation so that I can file my Thai tax return to get back the interest that has been withheld from my fixed rate deposits.

I have subsequently opened an additional account at Krungsri Bank, which I now use as my account for retirement extension, because they offered a more flexible and convenient savings account (Mee Tae Dai) than a standard fixed rate account and that paid comparable interest to a Bangkok Bank short-term fixed rate account. The Krungsri Bank is a much smaller branch than my Bangkok Bank branch and I find that it is less easy to communicate in English there. I've been treated well there, too, but there have been some minor glitches that I attribute mostly to miscommunication. They're not that adept at speaking English and I'm even less adept at speaking Thai. This year they made me come back the next day to pick up my immigration letter for my retirement visa. Bangkok Bank used to issue that to me while I waited. Again, that could simply be the difference between dealing with a main branch and a much smaller branch.

As an American I'm forced by my government (for FATCA and other know-your-customer nonsense) to fill out additional forms when I open an account at a Thai bank. More recently, Bangkok Bank actually wanted to see my US Social Security card before they would open a new account for me. I think that's the first time anyone has every asked to see my Social Security card. Luckily I was able to go home and get it. Not sure what would have happened if I were not able to produce it.

I'm happy with both banks. I don't have any experience with other Thai banks. I imagine that other Thai banks could do the same things that my banks do.

Thank you for the very informative post.

Just one clarification, please.

"They were able to assist me with the bank letters needed for documenting the transfer of funds into Thailand for the purchase of a condo.

When transferring funds into Thailand to buy a condo, does the bank got to do anything special?

Yes, when foreign currency is transferred into Thailand for the purpose of purchasing property (e.g., a freehold condo unit) the Thai bank needs to issue you a Foreign Exchange Certificate (TT 3) or equivalent that documents the transaction. This document contains information such as amount transferred in foreign currency, the corresponding amount in Baht, the name of the sender, and the purpose of the transfer (e.g., "for purchase of unit B-27 in the Ocean View Condominium"). This documentation must be shown to the Land Office when you go to register your freehold condo unit. This also serves as proof of the original payment should you ever want to take that money out of Thailand (e.g., repatriate that money when you sell your freehold condo unit). This is necessary to satisfy foreign currency controls required by the Bank of Thailand (every Baht must have a source and a reason).

The advice I was given when I purchased my condo was to put the reason (e.g., "for purchase of unit B-27 in the Ocean View Condominium") in the request to transfer the money into Thailand. I used the Bangkok Bank New York branch to do the transfer (as described above). I initiated a free ACH (Automated Clearing House) electronic funds transfer (EFT) from my US brokerage to the Bangkok Bank New York branch. I did this online at my brokerage and discovered that it was not possible to list a reason in the online ACH transfer request. If you were to do this in person or over the phone perhaps it would have been possible, but I much prefer to conduct my business online. Upon arrival of the funds in my Bangkok Bank account in Thailand (which I was notified had occurred by SMS) I went to my Bangkok Bank branch and requested a Foreign Exchange Certificate. I showed them my Sales and Purchase Agreement for the condo unit. I didn't get an FEC, but I did receive an equivalent letter from the bank documenting my transfer. Eventually, I needed to take that letter to the Land Office when I registered my condo unit and then received my chanote (condo unit title) and tabian bahn (house registration book). My understanding is that I should retain a copy of that bank letter (FEC equivalent) for use if I were to sell my condo unit. The letter would allow me to repatriate my funds from the sale of the condo unit back to the US. I believe there was a 100 Baht charge from Bangkok Bank for this letter.

[Pistillo]

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.

With Kasikorn you can call the call center and ask to have the OTP sent by email instead of SMS, the change lasts only 24 hours for security reasons but at least you can use your online banking also without the Thai mobile number registered with the account.

[schondie]

Yesterday I went to SCB to see if my account was still active as I hadn't used it for a couple of years. I need a Thai bank account to tie up with my PayPal account as I'm sick of paying 200 baht a time for pulling money out the ATM.

The manager told me that I needed a work permit with my non O visa (based on marriage) even though I have no need for one and the house registration papers. The latter not being a problem as I know we just go to the relevant district office and register me at the family's home.

My wife explained that I don't work in Thailand so a WP would be impossible to get. "Sorry, can't help as it's the regulations".

We tried Kasikorn next as I had an account with them a few years ago. All that was needed was my passport and the non O visa, nothing else.

I know each branch has their own interpretation of the regulations but I think I got lucky yesterday.

[Pib]

IMO a lot of branches know a WP is not required if alternate docs are available, but just use the WP excuse to keep farangs from establishing an account at their branch.

[mojavu]

IMO a lot of branches know a WP is not required if alternate docs are available, but just use the WP excuse to keep farangs from establishing an account at their branch.

and for what reason they keep farang from their bank ? isnt it better to have more money invested in their bank ?

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[Pib]

IMO a lot of branches know a WP is not required if alternate docs are available, but just use the WP excuse to keep farangs from establishing an account at their branch.

and for what reason they keep farang from their bank ? isnt it better to have more money invested in their bank ?

Sent from my SM-G900H using Tapatalk

You would think so but maybe the communications issues (language barrier) that can arise, no doubt many farangs not actually living in Thailand, extra forms to open accounts for some nationalities and increasing inter-country reporting of financial assests, plus farangs being a drop in the bucket of the total population just makes the accounts not really desirable. And while some farangs may keep nice sums of money in their Thai accounts just like many Thais do, I expect the great majority of farangs keep relatively low balances based on all the posts I've read on ThaiVisa over the years so it's not like all farang accounts (a drop in the bucket of all accounts) are considered high-net worth accounts.

And I'm not buying the excuse that branch managers don't understand all the account opening policies of the bank...pretty simple policies...right on the bank's website in English and Thai plus I'm sure their in-house documents.

[ThaiNoobie]

i open my bank acc in bkk. any extra charges if i use the atm withdrawal in hat yai?

Yes, it would cost you 15 Baht because Bangkok and Hat Yai are in different regions (Hat Yai is in the provincial rather than metropolitan region that includes Bangkok).

Withdrawals at Bangkok Bank’s ATMs

1. If I withdraw cash from Bangkok Bank ATMs in a different region, what is the fee?

   15 Bt

1. What is a “region”?

   Bank of Thailand splits Thailand into two main categories – Metropolitan and Provincial. The Metropolitan region encompasses the greater Bangkok metropolitan area (Bangkok, Samut Prakarn, Nonthaburi, and Pathumthani), while the provincial regions encompass all other areas of Thailand.

   Regions are considered from two viewpoints – that of where the account or card was opened, and secondly, that of where the ATM is located (where the transaction is being executed).

More info: http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/FAQnew.aspx

Is kasikorn same fee too?

http://www.kasikornbank.com/EN/RatesAndFees/Charges/Pages/Charges.aspx

if within the BMR is it even if is different bank also free?

i will be going pattaya, hat yai and khon kean. is these all 3 need to pay? Im thinking want to change money(now rate not good) or just pay the 15baht. is the 15baht fixed? I think if i withdraw at counter it will based on the amt i deposit and withdraw

[ThaiNoobie]

what is International cash point card use for?

Thanks guys for the last three posts they have really helped me too!

Excuse the late reply, was out of town a few days. If outside of Thailand, you can try 66-2645-5555. You can use the number on your Be 1st card if you have that with you, and don't need the account number from the passbook. Not online banking, but as you said, better than nothing!

beechguy - Yes I did have my Be1st card on me and yes the phone number worked - A bit clunky but I did get my ballance that indicated the money had indeed been paid in - So yes phone banking is better than nothing THANKS - PKRV -

Bangkok Bank rules for foreigners opening internet banking are thus:

- any long stay visa (Non Imm B, O, OA, spouse, diplomat, etc etc) can apply at any branch - you need passport plus one other form of ID which may include a driver's license (if that shows an address) + the accounts that you want to view on internet banking. For worker, forget the drivers license and use the WP.

- for tourist visa holders - there needs to be demonstrated evidence that you're not just a regular tourist (i.e. living in Thailand, home owning, family commitments etc). They won't do this on a "new account" or itinerant tourist - some degree of length of stay is required.

A.

aurelius - Thanks I had a sneaking suspicion that might be the case - I am back over end August beginning September and should have demonstrated electricity utility bills direct debits for my condo, on my Bangkok Bank account, over some period of time. Time to try again! I will get back to this thread - PKRV

Okay Guys, I went to Kasakorn on Sukumviet yesterday. If I told you all that it took 5 minuets that might be pushing it. Maybe it was the time of day that I went but I got a number and they called me right in. He spoke not a single word of English and it didn't seem to matter anyway. Passport, local address, cell phone number, 500 baht, and sign everywhere he put an X. No questions or small talk what so ever. I was not dressed any way in particular but only jeans and a tucked in collard shirt. He did make a copy of my Thai driver's license with my passport but I don't think it would have mattered if I had it or not. I only pulled it out because I thought it had my address on it. I gave him my wife's business card and he used that address without asking me a word or batting an eye. I got there around 11am and by 12 I was already half pissed across the street at the Bourbon Street Bar slamming down Coronas.
Once again, Thanks for everyones help.
JANG PANG!

bernie66 - Thanks for the update I too will look into this if I fail with Bangkok Bank - What did you actually get

For me it was:

International Be1st Debit card
International cash point card
Blue passbook savings account book
Just found out phone banking

Did you get internet banking? Thanks for all your feedback guys

[ThaiNoobie]

i open my acc in bkk and did atm withdraw in bkk. no extra charge on my account

I have my account and credit card with Bangkok Bank, choose them because I was told they are the best when it comes to getting funds into the country by wire transfer. This is true, if my bank in Canada does a transfer, the next day the funds are in my account here. Getting a credit card required a hold on double the credit limit of the card???

The thing that I found odd was that if you go to any branch other than the one you have your account, they charge you to withdraw AND to deposit money to/from your account. Is this standard procedure with all banks in Thailand? What about the holding of funds for the CC ?

Bangkok Bank will charge you to deposit and withdraw money at any branch/atm that is not where you opened your account. They have some other strange rules that are repeated on this forum weekly. Kasikorn Bank has none of the problems you will encounter at Bangkok Bank, from opening an account, to atm card ,to internet access. I suggest you visit Kasikorn Bank, take your passport , its all you need, oh yeah 100 baht for the atm card.

Hi I am Bangkok Bank based but use almost exclusively automated machines. I do not see the charges you are referring to, regardless of branch. What are you doing?

I know I have an outstanding Bangkok Bank question regarding internet banking, but will attempt to deal with this on Monday the 24^th.

Take your pass book into your branch and update it, they are charging you 20 baht for each withdrawal , at an atm not bolted to the front of the branch you opened your account at.

[ThaiNoobie]

Yesterday I went to SCB to see if my account was still active as I hadn't used it for a couple of years. I need a Thai bank account to tie up with my PayPal account as I'm sick of paying 200 baht a time for pulling money out the ATM.

The manager told me that I needed a work permit with my non O visa (based on marriage) even though I have no need for one and the house registration papers. The latter not being a problem as I know we just go to the relevant district office and register me at the family's home.

My wife explained that I don't work in Thailand so a WP would be impossible to get. "Sorry, can't help as it's the regulations".

We tried Kasikorn next as I had an account with them a few years ago. All that was needed was my passport and the non O visa, nothing else.

I know each branch has their own interpretation of the regulations but I think I got lucky yesterday.

how does tieing up with pay pal account work for no need pay 200baht for withdraw from atm in thai?

[mahjongguy]

Went to a branch of GSB today, asked about opening an account. They wanted a Work Permit. I said I only have a Retirement Extension and a Thai tax ID number. They refused.

Came home, had my partner call the GSB helpline. The agent gave the same answer but finally, after being pushed back, she said that the Retirement Extension along with a current Certificate of Residence from Immigration would suffice.

[sikishrory]

SCB suck. I have an account with them and it is the most limited least user friendly Thai account I have. Thats with a work permit. Cant use card for online shopping as they say I need a credit card or some other card which they won't give me. Online banking interface is terrible. Trying to register online to do foriegn transactions... can't do that either. It says to contact in branch and the tellers response was just a "no".

Kasikorn good never had a problem.

Bangkok bank. Lost my card yesterday and went to get a new one. Central pattaya branch was out of cards (seriously). Given some ridiculous excuse about cards have been ordered. Long time already and not sure when will arrive... probably another long time. You can call bkk bank and ask which branches in pattaya have a card for you.

Went to a different branch was told can replace with a "union pay" card for free or 699฿ for a visa one. Paid 699 with a feeling that something wasnt right about that. Asked about siging up with verified by visa. Teller was more than happy to oblige and pulled out her own tablet and wanted me to log in to my internet banking on it... no thanks.

[zyxwv]

Hello folks. 

 

I have a bank acct. in Thailand.  with almost nothing in it....but wanted to put my pension in when visiting...of course that cannot happen anymore due to change in Aussie laws next January.....(for new pensioners anyway)

Question:....do the Thai banks share  details with Australia Centerlink?

I think so...but wondered if anybody knew for sure.

[4evermaat]

14 hours ago, zyxwv said:

Hello folks. 

 

I have a bank acct. in Thailand.  with almost nothing in it....but wanted to put my pension in when visiting...of course that cannot happen anymore due to change in Aussie laws next January.....(for new pensioners anyway)

Question:....do the Thai banks share  details with Australia Centerlink?

I think so...but wondered if anybody knew for sure.

 

Not sure about the Australia Centerlink.  Can you or someone please link to a summary of the Australian pension law changes you are referring to?

[zyxwv]

https://www.humanservices.gov.au/customer/enablers/pension-rates-payable-people-outside-australia

 

since Thailand does not have a recognized agreement with Australia...I am led to believe that pension payments may be suppressed to some degree...I would like some definition here if anyone has experience with this.

thanks

 

[XTREME]

I plan on opening a bank account at Bangkok Bank on my next visit to Thailand so that I can  apply for an extension visa based on retirement.   The Bangkok Bank website is very confusing regarding opening a bank account. It has some downloadable forms to fill out. The website says tourists can open a bank account if they fill out one of these forms. A letter of reference for long stay foreigners or tourists , or a letter of reference from a thai organization or national or a swift message from the home countries bank. But then it says I must provide proof of address in Thailand and that it cannot be a hotel address. Well, if I am a tourist where else would I be residing other than a hotel?  And if I end up staying for a long period of time I sure it would take some time to find a permanent address.  It seems impossible to fulfill all their requirements to open a bank account.  Also they want a home address in the USA. If I have left the USA for good so I can retire in Thailand then I wouldn't have an address anymore in the USA. I suppose I could just give them my last address in the USA. Any suggestions or advice would be appreciated.Reference_Requirements_211009.pdfReference_Requirements_211009.pdf

[DrDweeb]

On 13/05/2015 at 4:05 PM, Chivas said:

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

And still did this week for me as well.

 

Talking to the officious looking lady at my branch was unproductive, despite the fact I have spoken to her several times in the past and have been a customer for a long time.

[redwinecheese]

Just go to any bank and make sure the branch manager is a MAN.

[livingmakmak]

I went to 3 different Bangkok Bank branch and they all wanted some paper from the US Embassy if I wanted to open an account on a tourist visa. Anyone know what paper it is that they want?


Sent from my iPhone using Thaivisa Connect

[Pib]

42 minutes ago, livingmakmak said:

I went to 3 different Bangkok Bank branch and they all wanted some paper from the US Embassy if I wanted to open an account on a tourist visa. Anyone know what paper it is that they want?


Sent from my iPhone using Thaivisa Connect

It's a Letter of Recommendation to support opening of a Thai bank account.   Sometimes folks also refer to it as Certificate of Residence, but it really just a form the embassy has that requests the bank be supportive in opening a Thai bank account.  The American Citizen Services will know what you need.  When making the appointment online just mention you need a letter to open a Thai bank account.  By the way, that letter will cost you $50 in Thai baht because of the notary seal put on the letter by the embassy representative.

[skatewash]

53 minutes ago, livingmakmak said:

I went to 3 different Bangkok Bank branch and they all wanted some paper from the US Embassy if I wanted to open an account on a tourist visa. Anyone know what paper it is that they want?


Sent from my iPhone using Thaivisa Connect

Quote

 

Opening an account

At Bangkok Bank, we’ve had a lot of experience helping foreigners do their banking activities. We can help you quickly
set up an account.

Even if you are in Thailand for only a short visit, you can open a savings account and get a debit card, which are convenient and cost-effective ways to manage your everyday finances.

What documents will you need when opening an account?

1. If you are working in Thailand and hold a non-immigrant B visa
        1. Passport
        2. Work permit

 

2. If you hold a tourist visa or non - immigrant (long-stay) visa
Long-stay foreigners including all Non-Immigrant visas (B, ED, EX, F, IB, IM,M, O,
O-A, R, RS, D, F, and SE) and Diplomatic Officer Courtesy, but excluding MT, S and LA.
Tourists include the following visa types: Tourist, Transit, Visa on Arrival, Exemption
Visa, Non-Immigrant MT and S.
        1. Passport
        2. ONE of the following documents:
                2.1 A letter of recommendation from an embassy, international organization,
your home bank (sent via SWIFT), a person acceptable to Bangkok Bank
(such as a BBL staff member or customer, government officer or company
executive), or from a national institution of your home country (such as
pension fund);
                2.2 Another document showing your name and address such as document
showing ownership of a fixed asset, or condominium sale/purchase
agreement.

 

3. If you have permanent residency in Thailand
        1. Passport or Alien Certificate or Certificate of Residency
        2. House Registration document

Note:
- Original documents with valid expiry date are required.
- Contact addresses for both Thailand and overseas shall be provided (hotel and P.O. Box addresses are not acceptable).

 

Above from page 2 of A Guide to Bangkok Bank Products and Services:

http://www.bangkokbank.com/BangkokBankThai/Documents/Site Documents/Other/ExpatBooklet_Jan2017.pdf

4

4

 

The bank staff were apparently requesting 2.2.1 information.  My understanding is that such a document from your embassy will basically state that you live in Thailand (not so much a recommendation) and that would be sufficient to satisfy that requirement.  However, letters from most embassies are notoriously expensive, not to mention inconvenient to obtain for many.  You may instead be able to satisfy the 2.2 requirement by meeting 2.2.2 rather than 2.2.1.

 

 

[smo]

On 8/6/2017 at 11:25 AM, skatewash said:

The bank staff were apparently requesting 2.2.1 information.  My understanding is that such a document from your embassy will basically state that you live in Thailand (not so much a recommendation) and that would be sufficient to satisfy that requirement.  However, letters from most embassies are notoriously expensive, not to mention inconvenient to obtain for many.  You may instead be able to satisfy the 2.2 requirement by meeting 2.2.2 rather than 2.2.1.

 

 

My fixed one-year term saving account got its first anniversary last week, so this morning I went to Bangkok Bank wanting to close this account and open a new one on fixed 3 month term. Was told by bank manager that I would need a letter of authorization from my (US) embassy to open a new account. 

 

I told her that last year when I opened the one-year fixed account she did not ask for this letter (based on my retirement extension). She said yeah but now we need it. I have this nagging feeling that she didn't like the fact that I was switching from one year to 3-month term. But then I saw that current edition of guide to Bangkok Bank was of Jan 2017, so maybe that has been enforced? Come to think of it, in Feb this year I did open a money market fund account with them (same branch), and they did not ask for the letter either. So does this come down to the discretion of the bank manager?

[Pib]

In my opinion it's a branch manager discretion thing although I'm sure HQ Bangkok Bank general guidance likes to get the embassy letter.  For around 3 years I had various fixed savings accounts with a Bangkok Bank branch.   Off the top of my head I had a 13 month account, a 11 month account, a 7 month account, a 5 month account, a 4 month account, etc.  Whenever one would mature I would go in a roll it over into the "best/highest interest pay promotion" at the time vs leaving it in the 3 month fixed account status it automatically rolled over to/convert to when it matured.

 

I did this around 6 times...and several times when rolling the account to the best promotion (which means closing the matured acct and opening a new acct) the "clerk" I happen to get went down the road of "Oh, you need a work permit, etc....etc...etc" to open an account.   But call over the branch manager and say Hey, I'm already a customer plus I even have a Yellow Book" the branch manager would tell the clerk to open the new fixed account...this happened at least two times.

 

And by the way, whenever a fixed account matures it automatically converts/rolls over to a 3 month account and you can leave it alone if desired and get the going 3 month fixed savings account rate.   Everyone of my fixed account automatically converted/rolled over to a 3 month fixed account.

 

Now it been about 2 years now since I had a Bangkok Bank fixed account because after the interest rates rolled-off due to Bank of Thailand lowering its prime rates, I just switched to a  Krungsri Mee Tai Dai saving account which pays almost as much as a traditional fixed account, does not automatically apply the 15% tax withholding (like in a fixed account) unless you exceed Bt20K interest earned per year, you can withdraw money at any time without an interest penalty, comes with debit card, etc.   No automatic tax withholding when less than Bt20K interest earned also means you don't need to file a request with your local Thai Revenue Office to get the withholding refund.  

 

The Krungsri MTD savings account is kinda like a hybrid between regular and fixed savings accounts.  I also use the Krungsri MTD account for my annual retirement extension of stay Bt800K requirement....did my latest extension just last week at Bangkok immigration/CW.  Takes  the Krungsri branch about 15 to 30 minutes to issue the bank letter and the charge is Bt100.   Bangkok Bank use to charge Bt200 for the letter when I was using my fixed account with them for the annual retirement extension of stay.  And when I initially opened my account Krungsri didn't require anything from the embassy or work permit...my long term retirement visa was enough for them....plus I showed them my Yellow Book. Your result may vary.

 

[TallGuyJohninBKK]

I was looking to open a new bank account the past couple weeks in BKK because of the impending closure of Standard Chartered. So I made my way around to a couple of the different banks to inquire, with the following results:

 

--CIMB was fine to open a new account for me on a retirement extension with nothing other than my passport and a second ID, so long as my Thai wife (who doesn't have any accounts with CIMB) came along and provided a copy of her Thai ID as a kind of sponsor. When I asked about opening a second account (a fixed deposit after the basic savings) with them after the first was done, they said the wife would have to come back again in person the next time, even though they already had her signed ID on file for my first account with them.

 

--Thanachart was only willing to open a new account if I had my name on a work permit or a tabien ban, neither of which I have.

 

--TMB insisted on a work permit, and seemed not to care about a tabien ban, B visa or anything else.

 

--And as Pib mentioned above, Krungsri is usually pretty cooperative, but since I already have an account with them, they weren't under consideration when I was looking to open a new one.

 

As always with things related to Thai banking, your mileage may vary from place to place and branch to branch. Absolutely no guarantees in the world of Thai banking for retirees, except that it's likely to be inconvenient.

 

 

 

[smo]

On 8/28/2017 at 1:27 PM, Pib said:

 

 

And by the way, whenever a fixed account matures it automatically converts/rolls over to a 3 month account and you can leave it alone if desired and get the going 3 month fixed savings account rate.   Everyone of my fixed account automatically converted/rolled over to a 3 month fixed account.

 

 

 

Another (-) for the Bangkok Bank manager for failing to tell me about the automatic rollover to 3-month fixed. That would have rendered my visit moot because that was my intention to begin with. And Bangkok Bank would still have kept my money....

 

Thanks to Pib's suggestion, I went to Krungsi Bank this morning and opened a Mee Tai Dai saving account with a chip-embedded visa debit card to boot. With very little hassle except the rep was kinda curious about my background, as they hardly see any farang around here, and definitely not in their branch. My still current and older krungsi thammada saving account (at 0.3% interest) plus my retirement stamp in the passport seemed to be enough to satisfy their requirements.

 

I also am going to follow Pib's and others method of using the MTD account to hold the 800K retirement funds. The only fly in the ointment is the debit card which allows for a total expenditure, including shopping, up to 100k per day. I asked them if possible to put a lower limit than that and they said no. Kinda feel uneasy about that, seeing how swiftly the sale clerk at the mall swipe the card without asking for any id, etc.