Opening A New Bank Account In Thailand

[Pib]

3 hours ago, Nyezhov said:

Dont really care to argue but I was charged a fee for the card. No biggie. And it cannot be used for purchases until I get a Retirement extension, then they will change it for me. Nor can I make depositis at a machine. I went to the branch near the US embassy to confirm all of that. They did tell me that if I went to an ATM near my branch or the Embassy branch and I withdrew from a US account and IMMEDIATELY went in with the receipt and deposiuted the cash, they would show it as funds coming from outside Thailand.

Regarding the part about withdrawing using a U.S. card and then go deposit the money where it will be coded as funds from coming outside of Thailand, I can tell you that several times a year I do a counter withdrawal at a Krungsri branch and no such "foreign source" coding has ever occurred....but I'll ask next time.  For example a few months ago I did a Bt150K counter withdrawal with my U.S. debit card with it immediately being deposited into my savings account...none of the money every touches my hands....goes direct into my savings account.   The counter teller is really doing two transactions...first doing the withdrawal using the U.S. card...and then depositing the funds into my account.  See below...and note the code is "DB" which just means "Cash Deposit" per coding cross reference shown on passbook back cover. Same "DB" coding that applies if I walk into a branch and deposit a 1000 baht.  No reference the funds came from overseas.  But next time I ask if they can code as a foreign transfer whatever code that may be.   I know a Tranferwise transfer is coded as "TN" which mean Transfer Deposit per passbook coding cross reference but with Transferwise tansfers the last leg of the trek is supposedly a domestic transfer.

 

 

[TallGuyJohninBKK]

1 hour ago, Pib said:

 I know a Tranferwise transfer is coded as "TN" which mean Transfer Deposit per passbook coding cross reference but with Transferwise tansfers the last leg of the trek is supposedly a domestic transfer.

 

 

Pib, I've been confused on the Transferwise point lately. There's been some discussion of TFW in the threads on the Embassy income affidavits lately, and some posters seem to be claiming the TFW deposits arrive here with an international coding, while others say they're showing as domestic deposits. I can't figure why we're getting those kinds of disparities in people's reports.

 

[Pib]

Just now, TallGuyJohninBKK said:

 

Pib, I've been confused on the Transferwise point lately. There's been some discussion of TFW in the threads on the Embassy income affidavits lately, and some posters seem to be claiming the TFW deposits arrive here with an international coding, while others say they're showing as domestic deposits. I can't figure why we're getting those kinds of disparities in people's reports.

 

Up to Thai banks how they code/describe transfers/deposits/etc., in their passbooks and ibanking.  Yeap, I'll seen various posts for people using Transferwise to send money to various Thai banks these reports show Thai banks display/code it differently....no standard coding/description.

 

When Transferwise transfers arrive my Bangkok Bank account the are Described as "International Transfer."  But Bangkok Bank does not show a "type of transaction code" on their ibanking...they only show a channel code like AUTO which means "Auto Debit/Credit" when you put your cursor of Auto when logged into ibanking.  To see the transaction code you need to go update your passbook which I don't do to often so I can't say what type of transaction code appears...but for Description I can tell you....see below from some past Transferwise transfers.

 

 

Now Krungsri ibanking displays differently from Bangkok Bank ibanking.  Krungsri does show a Type Code and instead of Description they use Ref. No.  The transaction I marked below with an arrow next to it is a Transferwise transfer....they use a TN code which just means a Transfer Deposit and under Ref. No. a ten digit reference number which I think was the number Transferwise used in the transfer and not a Krungsri number.   There is a lot of underlying coding in each transfer and banks decide what and how they want to display and code it.   

 

 

[CharlieH]

This topic is "opening a new bank account" NOT Transferwise.

 

Can we get back to topic please ?

[Pib]

Sounds fair....when opening that new Thai bank account to receive international transfers such as Transferwise or home country bank transfers don't expect any standardization among Thai banks in how it's coded/described. 

 

Personally, I like Bangkok Bank and Krungsri Bank for banking in Thailand.  Opening an account with Krungsri is probably easier than with Bangkok Bank.  But if you are a US person receiving U.S. govt payments such as social security pension you will want a Direct Deposit savings account with Bangkok Bank "as they are the only Thai bank" with ACH receiving capability which U.S. govt agencies primarily uses for U.S. govt pension payments.

 

[Nyezhov]

1 hour ago, Pib said:

Sounds fair....when opening that new Thai bank account to receive international transfers such as Transferwise or home country bank transfers don't expect any standardization among Thai banks in how it's coded/described. 

 

Personally, I like Bangkok Bank and Krungsri Bank for banking in Thailand.  Opening an account with Krungsri is probably easier than with Bangkok Bank.  But if you are a US person receiving U.S. govt payments such as social security pension you will want a Direct Deposit savings account with Bangkok Bank "as they are the only Thai bank" with ACH receiving capability which U.S. govt agencies primarily uses for U.S. govt pension payments.

 

But there are problems with that, and you are stuck with union pay

[KittenKong]

13 hours ago, Pib said:

See this website regarding the various Krungsri Debit card....they don't have any card with a Bt500 fee, whether as an annual fee or as an initial issue fee plus annual fee. 

Actually they do: the FCD card costs 200B + 300B = 500B when issued. I know because I was with a friend when he got one recently.

I dont think that's the card that @Nyezhov has though. I suspect that he may have the 480B All ATM card, valid for 3 years. It's very easy to tell which card one has by looking at the Krungsri website. Each card has a very different design and they are all shown, as far as I know.

[KittenKong]

For what it's worth, Krungsri was the only bank that would open FCD and THB accounts recently for my friend. We asked at TMB, Kasikorn, Bangkok Bank and one other, and then we gave up.

Interestingly we also asked at Krungsri in Central Festival where we were told it was impossible, but another nearby branch of Krungsri did it without the slightest trouble.

 

"Impossible" often translates as "I dont want to" or "I cant be bothered" or "I dont know how" here.

[Nyezhov]

7 minutes ago, KittenKong said:

Actually they do: the FCD card costs 200B + 300B = 500B when issued. I know because I was with a friend when he got one recently.

I dont think that's the card that @Nyezhov has though. I suspect that he may have the 480B All ATM card, valid for 3 years. It's very easy to tell which card one has by looking at the Krungsri website. Each card has a very different design and they are all shown, as far as I know.

I have no idea. Its yellow, has a chip, and cost 500Baht. It only works in ATMS for withdrawels> Im happy.

[Nyezhov]

3 minutes ago, KittenKong said:

For what it's worth, Krungsri was the only bank that would open FCD and THB accounts recently for my friend. We asked at TMB, Kasikorn, Bangkok Bank and one other, and then we gave up.

Interestingly we also asked at Krungsri in Central Festival where we were told it was impossible, but another nearby branch of Krungsri did it without the slightest trouble.

 

"Impossible" often translates as "I dont want to" or "I cant be bothered" or "I dont know how" here.

They wee nice, they spoke English, they gave me water and opened an account. Im pleased

[Pib]

12 hours ago, Nyezhov said:

But there are problems with that, and you are stuck with union pay

Yea.....pretty much for folks getting a card now or over the last year or so unless you are very persistent "and" the branch is willing to order you a Visa card (both criteria have to happen).   Fortunately, the wife and  still have a Visa debit card which I did get issued around 6 months after they started pushing their UnionPay card to most folks in mid 2016.  But when I got this latest Visa card, it was a replacement card since a Bangkok Bank ATM ate my Visa card.  When going to my Bangkok Bank branch saying I need a replacement debit card since your ATM ate mine I also said in the same breath I want a Visa card--not a UnionPay card--and they gave me a Visa card without any resistance in Dec 16 ....they had them in stock.  Shortly after the wife's Visa card was expiring...needed to get a replacement....went to the branch said wanted a Visa card....DO NOT want the UnionPay card and she got a Visa card.   This was the branch on the first floor of the HQ Bangkok Bank building in Bangkok on Silom Rd.  In both cases, they still had the Visa debit card in stock and didn't have to order them....if, repeat, if the branch is willing to order you a Visa debit card is supposedly takes about a week to get based on other TV posts I'e seen over the last year.

 

But above story is debit card replacement from an established account.  For someone just trying to open a new Bangkok Bank account they are probably not going to press hard for a Visa debit card as their prime interest is just getting an account opened...don't want to rock the boat so to speak.

 

Edited October 20, 2018 by Pib

[Pib]

10 hours ago, Nyezhov said:

I have no idea. Its yellow, has a chip, and cost 500Baht. It only works in ATMS for withdrawels> Im happy.

Pictures of all Krungsri debt cards along with specific info such as cost at below website.

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

[lindegaard]

Even though I know that preferrels are individual, I have a question regarding choice of bank.

 

My daughter, now Thai citizen also (Dane as of birth), want to open an account in TH instead of travelling with cash or paying every time she withdraws with her Danish card.

 

Basically she want's to be able to withdraw from ATM, use it as payment at BTS etc. and in shops in TH.

 

We have been surfing the major banks for info and such, and I myself is holder of a Bangkok Bank rabbit visa card, but I have heard that maybe Kasikorn has a better card and netbanking etc.  but I don't know anything about those other Banks.

 

She is always travelling between Thailand and Vietnam when in asia since in laws are living in Ho chi minh city, so a VISA attached is maybe also an option..

 

I do hope for some good advice from expats with experience in this field..

 

Best regards 

[Nyezhov]

On 10/20/2018 at 11:21 AM, Pib said:

Pictures of all Krungsri debt cards along with specific info such as cost at below website.

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

Mine looks like none of them and has the letters NRBA in the corner. Which clearly means Non Resident Bank Account.

[Stocky]

On 9/28/2018 at 5:26 PM, Nyezhov said:

and the winner:

Krungsri, Mquartier Branch, an hour of paperwork, a 500 baht fee on an ATM card, a passbook, 4 fee free at any ATMs a month and unlimited fee free Yellow ATMs. All deposits must be made at a branch.  Cant use the Visa for purchases though. No internet banking. Done.

Very helpful advice.

A friend in Bangkok for a few days was looking to open an account, he's thinking of retiring here in the next couple of years. I didn't think he had a chance, but on the basis of the advice above I pointed him toward Krungsri at EmQuartier. Took a while to talk to the right person, but yes he could open a THB and USD account, only stumbling block was an address in Thailand, but he was able to use mine, they were OK him doing that. So yes, Krungsri branch at EmQuartier get's a thumbs up from me, friend was visiting on a visa waiver, so no visa, no work permit.

[yang123]

On 9/28/2018 at 5:26 PM, Nyezhov said:

and the winner:

Krungsri, Mquartier Branch, an hour of paperwork, a 500 baht fee on an ATM card, a passbook, 4 fee free at any ATMs a month and unlimited fee free Yellow ATMs. All deposits must be made at a branch.  Cant use the Visa for purchases though. No internet banking. Done.

Q:  What documents did Krungsri ask to see before agreeing to open your account?

Q:  Does Krungsri show incoming foreign transfers as such on statements?

 

(Need to open a new account so that when the time comes for annual visa extension, I can prove income.  Last time I tried (2009), I was rejected because I had no work permit.  I do have an account with another bank in Bangkok, but now live up-country and need a local account in the event that Thai Immigration insist on same-day bank statement and letter.  Something tells me trying to transfer an account from one branch to another would not be easy....).

 

Many thanks in advance!  

[Nyezhov]

1 hour ago, yang123 said:

Q:  What documents did Krungsri ask to see before agreeing to open your account?

Q:  Does Krungsri show incoming foreign transfers as such on statements?

 

(Need to open a new account so that when the time comes for annual visa extension, I can prove income.  Last time I tried (2009), I was rejected because I had no work permit.  I do have an account with another bank in Bangkok, but now live up-country and need a local account in the event that Thai Immigration insist on same-day bank statement and letter.  Something tells me trying to transfer an account from one branch to another would not be easy....).

 

Many thanks in advance!  

I had my lease, passport, visa. But when I got my 90 day OA extension I opened a new account with a real visa card just by going back to the branch with my new Visa

 

My transferwise transfers show local.

[yang123]

Thanks for the swift reply.  I'll give Krungsri a try as soon as I've got a Residence Certficate from Immigration

(own house, in wifey's name, no yellow book).  Will report back here as I guess it's going to be a common question over the next few months.

[onera1961]

 

On 11/29/2018 at 11:59 PM, Stocky said:

Krungsri branch at EmQuartier

Where is EmQuartier? Is it in Bangkok?

[skatewash]

8 minutes ago, onera1961 said:

 

Where is EmQuartier? Is it in Bangkok?

Bangkok on Sukhumvit near the Phrom Phong BTS

https://www.emquartier.co.th/en/

Edited December 11, 2018 by skatewash

[Stocky]

6 minutes ago, onera1961 said:

 

Where is EmQuartier? Is it in Bangkok?

https://goo.gl/maps/wc5yTYNN6u62

 

Yes, it's a posh shopping mall, there's a Krungsri branch on the ground floor.

[Nyezhov]

8 minutes ago, Stocky said:

https://goo.gl/maps/wc5yTYNN6u62

 

Yes, it's a posh shopping mall, there's a Krungsri branch on the ground floor.

No you want to go into the back and upstairs to the third floor or 4th floor I beleive. Get off the skytrain and go NW. head to the back elevators and up.

Edited December 11, 2018 by Nyezhov

[yang123]

13 minutes ago, onera1961 said:

 

Where is EmQuartier? Is it in Bangkok?

Adjoins Phrom Pong Skytrain station in Bangkok

[KhunFred]

Much luck to you. If my experience is any indication, you will need it. I have never seen such a collection of poorly-informed bank empployees in my life. From the information desk to the head honcho, these idiots kept talking about a "work permit" and would not get off the subject even after I informed them that I am retired and cannot work. I have NEVER seen such grinding stupidity displayed by the employees of any bank in the world, and after dealing with Costa Rica and the Dominican Republic, that is truly a surprise

Edited December 11, 2018 by KhunFred
clarity

[onera1961]

2 hours ago, KhunFred said:

Much luck to you. If my experience is any indication, you will need it. I have never seen such a collection of poorly-informed bank empployees in my life. From the information desk to the head honcho, these idiots kept talking about a "work permit" and would not get off the subject even after I informed them that I am retired and cannot work. I have NEVER seen such grinding stupidity displayed by the employees of any bank in the world, and after dealing with Costa Rica and the Dominican Republic, that is truly a surprise

Thai education does not encourage critical thinking. It only encourages what they have been told to do unless it involves brown envelopes or some other form of payment that will benefit the institution (in this case bank). Buy an insurance and magically work permit disappears. I don't know if brown envelopes work for bank or not but it certainly works for government institution. 

Edited December 12, 2018 by onera1961

[yang123]

Long shot:  Any advice as to which banks in LAMPANG are falang friendly?

 

Situation:  On retirement visa extensions for the last ten years, using proof of income embassy letter for the extension ritual.  Now need to open an account to hold 800k or receive one of my UK pensions (or at least 65 k in monthly transfers.  I can get a Certificate of Residence from Immigration and, all being well, should soon have a yellow book. (I'll do a post about that ritual when it's complete)

 

Thanks in advance!

[livram]

On 11/30/2018 at 12:59 PM, Stocky said:

Very helpful advice.

A friend in Bangkok for a few days was looking to open an account, he's thinking of retiring here in the next couple of years. I didn't think he had a chance, but on the basis of the advice above I pointed him toward Krungsri at EmQuartier. Took a while to talk to the right person, but yes he could open a THB and USD account, only stumbling block was an address in Thailand, but he was able to use mine, they were OK him doing that. So yes, Krungsri branch at EmQuartier get's a thumbs up from me, friend was visiting on a visa waiver, so no visa, no work permit.

I opened with Krungsri 4 years ago in Korat with retirement visa.

 

I opened Internet Banking online with no phone calls or emails. Just have savings passbook handy to fill in the blanks and start using same day.

[Stocky]

5 minutes ago, livram said:

I opened with Krungsri 4 years ago in Korat with retirement visa.

That's the problem, Thailand is forever inconsistent in things like this, I opened an account with Kasikorn in Hat Yai on a visa waiver easy as you like, but that was 15 years ago. So recent information is invaluable if you wish to save time and effort.

[KhunFred]

Just now, Stocky said:

That's the problem, Thailand is forever inconsistent in things like this, I opened an account with Kasikorn in Hat Yai on a visa waiver easy as you like, but that was 15 years ago. So recent information is invaluable if you wish to save time and effort.

The current situation with opening bank accounts, simply HAS to be linked to FBAR reporting and other onerous requirements placed on banks in foreign countries by US laws. There is no other possible explanation for turning down money. Since Bangkok Bank has a wholesale bank in New York City, that places them in a predicament which the other banks do not have to face.

[SooKee]

In light of the extension changes, proving funds coming from overseas and the problems using Transferwise etc. I decided I would try to open an account with Bangkok Bank in Bangkok.  It turned out to be MUCH easier than expected.

 

I am here on a retirement extension (no work permit) and noticed from their website that for new accounts with no work permit they require a letter from your Embassy.  Having applied for a UK income affidavit a couple of months ago (for an extension application later this month) I thought I'd try and squeeze some more value for money out of the £52 you pay for those and try to use that as my embassy reference letter.

 

Ended up going straight to the Head Office branch in Silom (saw a post or two from folks saying they found it easier there with staff actually knowing the rules rather than the stock "cannot" or "work permit" responses), got my ticket and was approached by a member of staff while sat waiting my turn.  Once I told him I was there to open an account he asked if I had my passport and a letter from my embassy.  "Yup".  He looked at the income affidavit letter, said "fine", and scurried off to make copies of the documents for the desk officer.

 

Documents used:

Passport

UK Embassy Income Affidavit

Condo rental contract

Internet bill from AIS (probably didn't need this but they took a copy anyway)

 

All plain sailing after that.  Opened the account (min of 500 baht), paid 400 for the debit card (Master Card) and set up SMS alerts, internet banking and mobile app.  Very surprised how easy it was given how tough it's got to open an account in the last few years, even more impressed I managed to get a dual use out of my income affidavit rather than having to pay the embassy again for another letter.  Conscious some branches may even open accounts without an embassy letter but couldn't be bothered to traipse around multiple branches to seek one out.