Opening A New Bank Account In Thailand

4evermaat · August 29, 2017

8 hours ago, smo said:

......

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.

you might be able to adjust the debit card limit via phone with automated prompts. You can email them and ask if you can adjust the daily purchase limit.

If that is for the retirement funds, perhaps opening a separate acct without a debit card would be better?

TallGuyJohninBKK · August 29, 2017

I hate it when some of the Thai banks do that -- force a debit card on you, including ones where they won't allow you to disable or lower the POS limits.

A couple of answers to that:

--As 4Ever said above, open another non debit card account with the same bank. But the reason for having the MTD with a large balance for retirement extension is its better interest rate, so that's kind of self defeating.

--Take the debit card they give you, and then promptly take it home and cut it into tiny pieces and discard it. AFAIK, there's no account function with the MTD account where you HAVE to use/have a debit card. For withdrawals or deposits, just use your bank book with the tellers inside the branch.

--Or a milder version of that -- take the debit card home and lock it away in a secure place, and never use it for any kinds of potentially vulnerable transactions -- onliine purchases, ATM transactions, swipe and sign purchases.

inThailand · August 29, 2017

I have have had many MTD accounts and never had an ATM card for any of them. All opened with just a passport. If you earn more than 20K of interest among all your A bank accounts than they start taking 15% tax every month.

Pib · August 30, 2017

Actually, Krungsri Bank does not issue a debit card with the MTD account unless you want one....they have around a half dozen debit cards you can pick from if you want a card...from a no annual fee card (which I got) to pricey annual fee cards with insurance and other benefits. Visa cards. And even the no annual fee card is not really because to get this card you must take their SMS service at Bt19/mo....but that's OK as I like the SMS service.

When I opened my account a couple years ago my branch made zero effort to push a pricey card or any card. I just said I wanted a debit card also....a no or low annual fee card. They pulled out a one page brochure describing their 6 or so available Visa cards, I picked the cheapest one....card issued a few minutes later. At that time it was still a "no chip" card but last week when I was at the branch getting my bank letter to renew my retirement extension of stay I switched to the chipped Visa card...the switch/issue of the chipped card cost Bt100 since my no-chip card was still good till 2019....I got the impression if I had waited until it expired the replacement would have been free....but I'm not really sure.

For me, I only got a debit card with the MTD account to have easy/quick/anytime access to the money versus needing to wait until the branch opens....having the debit card also allows me to use the Cash Deposit Machines. And the money I keep in that account is really my BIG money for emergencies and my annual retirement extension money....I don't use the money for day-to-day expenses. The card lives in the darkness of my safe except when I need to use it which is not very often.

Besides, you are provided two "free" withdrawals per month at no charge (regardless of the withdrawal method...ATM, transfer, counter, etc)...but starting at the 3rd and more withdrawal there is a Bt50 fee. Do as many withdrawals as desired with no interest penalty, just be aware starting at the 3rd withdrawal per month there will be a Bt50 per withdrawal until start of the next month.

You also get ibanking with the MTD account if desired...I got it.

Since they are paying you a significantly higher interest rate (real close to a fixed account rate) and "not" automatically doing the 15% tax withholding for Bt20K and less interest earned per year (unlike fixed accounts that do the tax withholding on any amount of interest) that saves a person from needing to do a tax refund request with their local Thai Revenue Office in order to get the tax withholding back.

smo · August 30, 2017

No, they didn't not push any card on me. They simply asked do you want ATM card with your new account and I said yes, that was it. But I missed the display the 6 card catalogue otherwise I would have choosen another one than the standard one they gave me that carries the annual fee. I guess they figured it would be way over their head to explain the different cards to the farang and if so I wholeheartedly agree. Oh well.

Re the daily purchase limit, I think it was again the language barrier, between my 300 Thai word-vocabulary and their broken English together we did not overcome. I went home and browsed the bank website and sure enough there was the colorful card catalogue along with all the fees and dos and don't for each. I quickly went to the atm machine around the corner and with a couple of keystrokes, managed to lower the limit down to 20K, voila.(you can also call the bank phone center for this).

While getting the MTD account open at the bank I also told them I want to add the new account to my krungsi ibanking (which I already had established via my older thamada account). They proceeded to explain in rapid-fire Thai which left me speechless, all I heard over and over was the English word "confidential" and the general body gesturing as to do it in the privacy of your home. So I whipped out my tablet, got on ibanking right then and there and within a couple of minutes under the rep watch ful eyes, managed to not only add the new account but also make a token transfer between the new and old.

Last but not least this morning I came back to Bangkok Bank to sell my money funds. I told the manager that I was able to open a new account at another bank without the 50 dollar-stamp embassy letter that she had insisted on. She asked another Bangkok Bank? I said no, a different bank. She shook her head and said sorry, but Bangkok Bank has gotten very strict since FATCA. I figured she could connect the dots and see where the sale of the money funds would end up so I simply shrugged. At the end we parted amiably, all smiles and wais.

Pib · August 30, 2017

Here's a Krungsri Bank webpage describing their various debit cards. I got the one named No Annual Fee Card.

https://www.krungsri.com/bank/en/PersonalBanking/CardProducts/KrungsriDebitcard.html

TallGuyJohninBKK · August 30, 2017

11 hours ago, Pib said:

Actually, Krungsri Bank does not issue a debit card with the MTD account unless you want one....

When I opened my MTD account in BKK a couple years back, I don't recall the bank staff giving me any choice in the matter. I ended up with a Krungsri First Choice VISA debit card.

But in going back and looking at my notes on the account opening with Krungsri, my notes say they offer daily POS spending limit options of zero meaning disabled, 20K, 30K, 50K or the maximum 100K baht. And that their daily POS default limit was 20K if you did nothing to change it.

lkv · August 30, 2017

Does anybody know if you can use Krungsri debit cards for online purchases. It seems that:

Remark: Currently, the Bank has not yet provided service on online payment of goods and services via debit card

TallGuyJohninBKK · August 30, 2017

29 minutes ago, lkv said:

Does anybody know if you can use Krungsri debit cards for online purchases. It seems that:

Remark: Currently, the Bank has not yet provided service on online payment of goods and services via debit card

That's what the document I got when I received my card says. Since that time, however, I've never actually tried to use their card for an online transaction. So I'm only going on what they said...not any actual experience on the subject.

ALFREDO · November 18, 2017

On 09/06/2016 at 2:02 PM, sikishrory said:

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.

So - did you get the 699 Baht Bangkok Bank Debit card, some insurance included?

I would like to have again.

I had that card - but they refuse now to give me Visa Debit replacement card.

Only Chinese -Union Pay- card.?

I had the same card since some years and took it - to get a Visa Debit card with Bangkok Bank - much better then the -Union Pay- card they like to give out now.

Forgot my Bangkok Bank Insurance Visa Debit card in a ATM and seems I can still use the card with its numbers in my possession in the Internet - but I have no card to take money from ATM - inconvenient!

The Bangkok Bank Branches I visited in Isaan around Udon Thani refuse to give me a Visa Debit card now - want to downgrade it to a Union Pay card.

I have also problems to get or open a new account with other Bank in the area of Udon Thani - Nong Han - Sawang Den Din to get a Visa or Master Card much more widely accepted in Internet purchasing of flights and Hotelrooms and more.

??

Any help known? ?

ALFREDO · November 18, 2017

Forgot my Bangkok Bank Visa Debit card in a ATM and seems I can still use the card with its numbers in my possession in the Internet - but I have no card to take money from ATM - inconvenient!

The Bangkok Bank Branches I visited in Isaan around Udon Thani refuse to give me a replacement Visa Debit card now - want to downgrade it to a Union Pay card.

I have also problems to get or open a new account with other Banks

in the area of Udon Thani - Nong Han - Sawang Den Din

to get a Visa or Master Card much more widely accepted in Internet purchasing of flights and Hotel rooms and more.

??

Any help known? ?

ginjag · November 20, 2017

Just got a new Bangkok Bank Debit card---lovely--ha ha ha went to Tesco shopping, they will not accept it, no visa on it, along with other Thai outlets---stupid. and only allowed 5 pound in any transaction sale, where the outlet will accept it.

Should have got a credit card, I am stupid.

4evermaat · November 20, 2017

On 11/18/2017 at 9:48 PM, ALFREDO said:

Forgot my Bangkok Bank Visa Debit card in a ATM and seems I can still use the card with its numbers in my possession in the Internet - but I have no card to take money from ATM - inconvenient!

The Bangkok Bank Branches I visited in Isaan around Udon Thani refuse to give me a replacement Visa Debit card now - want to downgrade it to a Union Pay card.

I have also problems to get or open a new account with other Banks

in the area of Udon Thani - Nong Han - Sawang Den Din

to get a Visa or Master Card much more widely accepted in Internet purchasing of flights and Hotel rooms and more.

??

Any help known? ?

@ginjag

You are looking for the older style visa debit card with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Be1stSmart/Pages/Default.aspx

Or the newer smart rabbit cards [visa] with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Pages/Be1stRabbit.aspx

For your purposes, they are the same (chipped debit card with visa logo tied to a saving account) and can be used the same way.

2 options:

1. [DIY] Walk into the branch with a copy of the english and Thai of these pages. A friend who could speak some thai would be helpful. You could also pull it up on your smartphone.

as a backup if you have any issues, you could ask to call bangkok bank customer service.

If they say that they do not have any in stock, you can order one. When you do, you will also have the chance to have your name printed on the front. Takes about 5-7 calendar days and it will be delivered to the same branch you ordered it from.

2. [less stressful] You can reach out to Bangkok Bank via email: info at/ bangkokbank.com .

Just mention the name and location of the branch that you are trying to obtain the replacement visa debit card [Although any branch can technically service you, it might be best to use the exact branch where you opened the account] . Tell them that you are having problems obtaining a debit card for your account and you want either of the ones above (include the links in your email). Ask if they can contact the branch so that there will be no confusion over what card you want when you go. Leave your phone # in the email in case any questions arise.

ALFREDO · November 21, 2017

22 hours ago, 4evermaat said:

@ginjag

You are looking for the older style visa debit card with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Be1stSmart/Pages/Default.aspx

Or the newer smart rabbit cards [visa] with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Pages/Be1stRabbit.aspx

For your purposes, they are the same (chipped debit card with visa logo tied to a saving account) and can be used the same way.

2 options:

1. [DIY] Walk into the branch with a copy of the english and Thai of these pages. A friend who could speak some thai would be helpful. You could also pull it up on your smartphone.

as a backup if you have any issues, you could ask to call bangkok bank customer service.

If they say that they do not have any in stock, you can order one. When you do, you will also have the chance to have your name printed on the front. Takes about 5-7 calendar days and it will be delivered to the same branch you ordered it from.

2. [less stressful] You can reach out to Bangkok Bank via email: info at/ bangkokbank.com .

Just mention the name and location of the branch that you are trying to obtain the replacement visa debit card [Although any branch can technically service you, it might be best to use the exact branch where you opened the account] . Tell them that you are having problems obtaining a debit card for your account and you want either of the ones above (include the links in your email). Ask if they can contact the branch so that there will be no confusion over what card you want when you go. Leave your phone # in the email in case any questions arise.

Thank you for your help - But - as far as I hear from all branches I visited - and calls I made to Call center Bangkok Bankk does not give out anymore Debit Visa cards only Chinese Union pay!

I wrote a mail to the e.mail you provided - but I think I have to look for a new Bank.

But to open an account is also not easy now.

Many hurdles - different from Bank to Bank! ?

4evermaat · November 22, 2017

@ALFREDO I think it will all blow over soon. Not sure why the sudden push for China UP only. I do think you can get the Visa logo debit card if you politely insist.

I doubt this is a nationwide thing. There would be a large outcry already. I am curious to know how they reply to email.

ALFREDO · November 22, 2017

13 hours ago, 4evermaat said:

@ALFREDO I think it will all blow over soon. Not sure why the sudden push for China UP only. I do think you can get the Visa logo debit card if you politely insist.

I doubt this is a nationwide thing. There would be a large outcry already. I am curious to know how they reply to email.

I was reading that Union Pay and Bangkok Bank are Businesspartners and own partly the other Company and vice versa.?

I wrote -

"Dear Ladies and Sirs

I have a Bangkok Bank Account since 1999 and a Debit Visa Rabbit Insurance 699? BHt with it.

I forgot my card in a ATM in Udon Thani city and now all Branches I contacted In Udon Thani Big C - Nong Han - Sawang Den Din- and your Call Center refuse - to give me a Visa Debit replacement card - the Union Pay card they offer me is not Internationally in wide use and so I cannot purchase in Internet at my will same before!

I very disappointed - if you not allow me a replacement Visa Debit card I have to look for a new a Bank which provides what I want and what I had.

Your management made a for me bad decision against customers satisfaction."

The answer - from Bangkok Bank did nobody read my mail? Lol ?

"

Dear Customer,

First of all,we apologized for any inconvenience that has occurred.

Regarding you inquiry about atm card . Presently, the bank provide debit card with union pay

Be1st Smart TPN UnionPay Card entrance fee: 100Bt and annual fee: 200Bt per year

Be1st Smart TPN Rabbit Card entrance fee: 100Bt and annual fee: 200Bt per year

Be1st Smart TPN Rabbit Siriraj Card entrance fee: 100Bt and annual fee: 599Bt per year

In this case, please be advised that you contact your home branch and directly talk to branch manager about your inquiry because the extra practice is under his/her consideration and responsibility.

Should you require any further assistance, please do not hesitate to contact us. You can also contact our phone banking center at +66-2645-5555 (from the overseas) or 1333 (from within Thailand), a 24/7 service to acquire more information. Thank you."

I wrote and asked - if somebody could read what I wrote before he answers. ?

I will try to change my Bank.

rvaviator · November 22, 2017

Can anyone recommend a Krungsri branch in Pattaya that will open a bank account for a 30 Day Visa excempt passport holder ?

Sent from my iPad using Thaivisa Connect

BKK4 · December 13, 2017

For opening bank accounts in Bangkok, it is good to have a reason prepared for not having a Non-B / Non-O and WP. Speaking Thai helps, or having a Thai person go with you will do. On a TV, you could open an account if you have a letter from Thai family, letter from a job (offer), or something else. Usually as long as they see you are not a criminal, just want to use the account for normal purposes, and deposit a decent amount of money 20,000THB+, it should work. Try the Kasikorn branch near Phra Arthit Road. No problems opening an account there on just a TV and some supporting documents.

orientalist · December 15, 2017

On 12/13/2017 at 4:53 PM, BKK4 said:

For opening bank accounts in Bangkok, it is good to have a reason prepared for not having a Non-B / Non-O and WP. Speaking Thai helps, or having a Thai person go with you will do. On a TV, you could open an account if you have a letter from Thai family, letter from a job (offer), or something else. Usually as long as they see you are not a criminal, just want to use the account for normal purposes, and deposit a decent amount of money 20,000THB+, it should work. Try the Kasikorn branch near Phra Arthit Road. No problems opening an account there on just a TV and some supporting documents.

When you say Tourist Visa, does that include visa-on-arrival? I am investigating this for a friend who wants to open an account here in advance of marrying a Thai and moving here 6 months later.

What other supporting documents would be required other than a letter from the Thai mother-in-law and passport copies?

BEVUP · December 15, 2017

So can anyone tell me what a Rabbit card is (I have not checked their web site yet )

I know it's difficult to get the Best 1 Visa Debit card , but the posts above are stating that the Rabbit card is a Visa Debit card, where as a few days ago on this Forum they were stating it to be a Credit Card

So which one is it

4evermaat · December 16, 2017

On 12/15/2017 at 1:58 PM, BEVUP said:

So can anyone tell me what a Rabbit card is (I have not checked their web site yet )

I know it's difficult to get the Best 1 Visa Debit card , but the posts above are stating that the Rabbit card is a Visa Debit card, where as a few days ago on this Forum they were stating it to be a Credit Card

So which one is it

On 11/20/2017 at 1:50 PM, 4evermaat said:

@ginjag

You are looking for the older style visa debit card with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Be1stSmart/Pages/Default.aspx

Or the newer smart rabbit cards [visa] with chip:

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Be1stVisaDebitCard/Pages/Be1stRabbit.aspx

For your purposes, they are the same (chipped debit card with visa logo tied to a saving account) and can be used the same way.

.........

Now there is an independent Rabbit card not tied to any bank acct which you can get at most BTS stations cashier desk. You put a deposit on it and then you use it anywhere Rabbit is accepted, which is all BTS stations, most 7-elevens and a few shopping malls in Bangkok.

http://www.bts.co.th/customer/en/16-rabbit-step-chg-sky-to-rabbit.aspx

and

https://card.rabbit.co.th/en

moogradod · December 26, 2017

On 23.11.2017 at 1:52 AM, rvaviator said:

Can anyone recommend a Krungsri branch in Pattaya that will open a bank account for a 30 Day Visa excempt passport holder ?

Is there any news on that ? I need the same for retirement purposes when we come here in April 2018 exept that I have a Thai Wife already and she has a bank account with Bangkok Bank. Need to open in Pattaya, since we stay here currently.

Any suggesttions are extremely appreciated since we are obviously under time pressure and this is really an urgent need.

TallGuyJohninBKK · December 26, 2017

1 hour ago, moogradod said:

Is there any news on that ? I need the same for retirement purposes when we come here in April 2018 exept that I have a Thai Wife already and she has a bank account with Bangkok Bank. Need to open in Pattaya, since we stay here currently.

Any suggesttions are extremely appreciated since we are obviously under time pressure and this is really an urgent need.

The current webpage for Bangkok Bank and foreigners opening accounts with them would appear to say you at least need to have a tourist visa to open a new account (as opposed to a visa exempt entry).

But if your wife already has a BKKB account, no harm in her taking you to her branch and inquiring whether they'll open an account for you as her husband, with her as your "sponsor/recommendation" for the account.

http://www.bangkokbank.com/BANGKOKBANK/PERSONALBANKING/SPECIALSERVICES/FOREIGNCUSTOMERS/Pages/Account.aspx#ContentBody052

moogradod · December 26, 2017

Thanks.

I will do exactly that. We stay now in Pattaya, and thats where I must apply. My wifes account is with a BKK branch, but this should not matter I suppose. I will even bring a rental contract for a condo in my name (has to be concluded - we are looking for a condo).

TallGuyJohninBKK · December 26, 2017

There's a lot of variation on this among Thai banks, and even among different branches within the same bank company. I recall people getting new accounts in the past with visa-exempt entries, but BKK Bank's website in its latest incarnation doesn't appear to support that.

Nonetheless, it never hurts to ask. Take the Thai wife with you with her BKKB bankbook, and bring along whatever pertinent paperwork you may have, such as rental contract or similar. Thai banks tend to love paperwork. Can't guarantee you success, but even if one branch says no, it's entirely possible a different branch of the same bank will say yes. Plan on spending some time driving or trudging around. It's all a c**pshoot when it comes to this stuff.

chowny77 · January 9, 2018

I just tried to open a Kasikorn bank account and they were happy with my visa in the passport plus my yellow house book but demanded that the minimum I needed to open the account was 10,000 baht. I think this is a scandal considering my wife opened an account with the same bank for only 500 baht. This was today btw.

The manic · January 9, 2018

How much of it is recoverable? YOU GF is a Thai national no doubt? Try the yellow Bank or the Bangkok Bank. I use both though the Kasithorn, which used to be The Thai Farmers Bank used to have some advantages.

Pib · January 10, 2018

Only Bt500 deposit is required to open a regular/standard bank account in account in Thailand...and that is still your money. Thai nationals, just as farangs, have to put down at least a Bt500 opening deposit. You could come back next day of opening the account, or maybe even minutes later, to withdraw that Bt500 and you could.

A lot of people think the Bt500 opening deposit requirement for a regular savings account is a fee, but no, it's just a deposit...still your money....just something all Thai banks do...don't know if that is a Bank of Thailand regulation, Thai Bankers Assn rule, or just a tradition that has developed at Thai banks.

Anything above Bt500 and/or requiring you to take one of their pricey annual fee debit cards that might include accident insurance or other benefits is just a "sales job" being done on your by the bank.

sikishrory · January 10, 2018

21 minutes ago, Pib said:

Only Bt500 deposit is required to open a regular/standard bank account in account in Thailand...and that is still your money. Thai nationals, just as farangs, have to put down at least a Bt500 opening deposit. You could come back next day of opening the account, or maybe even minutes later, to withdraw that Bt500 and you could.

A lot of people think the Bt500 opening deposit requirement for a regular savings account is a fee, but no, it's just a deposit...still your money....just something all Thai banks do...don't know if that is a Bank of Thailand regulation, Thai Bankers Assn rule, or just a tradition that has developed at Thai banks.

Anything above Bt500 and/or requiring you to take one of their pricey annual fee debit cards that might include accident insurance or other benefits is just a "sales job" being done on your by the bank.

Thats absolutely correct. They make up their own rules as they go along. I complained to kasikorn head office about this (was unknowingly signed up to 2x insurances) and they wern't happy about it. It caused such a huge fuss I don't even wanna go in there again. They really did a great job though following it up.

On the other hand if they had said I needed to deposit 10k it wouldn't bother me at all as I would want to put some cash in it anyway.

Pib · January 10, 2018

4 hours ago, sikishrory said:

Thats absolutely correct. They make up their own rules as they go along. I complained to kasikorn head office about this (was unknowingly signed up to 2x insurances) and they wern't happy about it. It caused such a huge fuss I don't even wanna go in there again. They really did a great job though following it up.

On the other hand if they had said I needed to deposit 10k it wouldn't bother me at all as I would want to put some cash in it anyway.

I've seen several posts over the last few years where the bank required a $10K deposit to open an account....and I think it was K-Bank in each case.. I expect this was "not" a regular savings account but another type of savings account. And it not uncommon for bank branches to push insurance, debit cards with insurance, etc., which provide the branch a higher profit/commission at the customer's expense.

But I don't totally blame the bank as the customer needs to fully understand what he/she is signing up for, do some advance research, etc.

Now since you mentioned earlier you had to deposit Bt10K and ended up getting x2 insurance coverage, that sounds kinda like the K Bank Flexible Fixed Deposit Savings account which requires a minimum of Bt9K opening deposit and has a x2 accident insurance provision. Or, it could have been the Current Account which requires a $10K opening deposit. A person just needs to know what they are signing up for.

https://www.kasikornbank.com/en/personal/Account/Pages/flexible-plus-family-protection.aspx

https://www.kasikornbank.com/en/personal/Account/Pages/current.aspx

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