Opening A New Bank Account In Thailand

[longball53098]

There is both BKK bank and Kasikorn offices here in Ban Chang. Friend told me he went to the BKK bank a week or so ago with a Thai friend to inquire about a passbook account and was flatly told no. No work permit no account. But I don't think his Thai friend pushed it anymore than that. He also has not tried the K bank branch as he now went back to Sweden for 6 months so will have to wait til later

Thanks for the feedback on this.

[pkrv]

There is both BKK bank and Kasikorn offices here in Ban Chang. Friend told me he went to the BKK bank a week or so ago with a Thai friend to inquire about a passbook account and was flatly told no. No work permit no account. But I don't think his Thai friend pushed it anymore than that. He also has not tried the K bank branch as he now went back to Sweden for 6 months so will have to wait til later

Thanks for the feedback on this.

A strong reason is all that is required - please get back to us 'longball53098'

[pkrv]

Just this week I inquired about a new account at the SCB offices in Ban Chang here in Rayong. I have a Swedish friend who has an account in BKK at a Kasikorn branch (opened a year or two ago) but would rather have one here in this area as this is where he will be living.

For 500bt he could transfer his account to a local K-bank branch.

Hi 'GungaDin' sorry I missed that one - That is important as it appears Thailand operates a province/sector banking system (with a charge even from the same bank applying if you deposit or withdraw cash - but outside of the sector) so yes just open your account with a local branch - of whatever bank.

But you do not post links it would really help.

Edited June 18, 2010 by pkrv

[pkrv]

Bangkok Bank have updated their UK based information - please ignore the past links I have posted regarding this site.

The new link is here:

http://www.bangkokba...%20options.aspx

Yes you can directly connect any UK bank account to your Bangkok Bank account via a UK local BACS transfer.

IMO It's not bad in terms of rates etc for largish transfers

As always the world moves on.......

Edited July 13, 2010 by pkrv

[12DrinkMore]

I was in the BKK bank today and asked if a foreigner on holiday on a tourist entry could open an account. Yes, no problem. I then specifically asked the manager and deputy manager whether a work permit was a requirement. "No".

Details here

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/Opening%20an%20account%20new.aspx

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

The only difference between those on a short term and a long term is that internet banking facility is not open for the short timers.

[karTER]

My wife and I opened up a Bangkok Bank account yesterday without problem. We are currently visiting on a 60 day, single entry tourist visa, although we stay in the capital at least six months of the year. We do not work (retired) and simply wanted a bank account here as we are fed up of paying THB 150 withdrawal fees or getting our UK cards declined when we use them at the ATM. Plus the UK limits are poor- THB 15 000, whereas we can now withdraw THB 50 000 if need be.

To help, we asked a friend who speaks fluent Thai to come to the bank (it was his branch at Sukhumvit 50, just opposite Tesco-Lotus) and we also got our hotel manager to write a reference letter in Thai, saying we were frequent visitors and that we were of "good standing". Indeed, the address we gave at the bank was that of the hotel's.

We took passports and driving licences and received a savings passbook and two ATM/debit cards, all within around half an hour. The cards cost us THB 600 for the pair and last until 2020 and we opened the account with THB 5 000.

The lady who dealt with new accounts spoke excellent English, was very pleasant and did everything she could do help us. It was a real pleasure and I look forward to doing our financial business there for many years to come.

[12DrinkMore]

The lady who dealt with new accounts spoke excellent English, was very pleasant and did everything she could do help us. It was a real pleasure and I look forward to doing our financial business there for many years to come.

That reflects totally my experience with Thai banks. I have been dealing with them for fifteen years or so since my first visit here. There have been a few difficult periods due to the changing moods of the government, but on the whole and particularly in the last couple of years, I have been very impressed and very happy with the service I receive from the BKK Bank, SCB and Ayuddahya. And they provide a constantly improving service.

An excellent and helpful service.

In fact the total opposite to the arrogant, piss-poor, high charge, screw-the-customer attitude and deteriorating service of that self-appointed financial centre of the world, the UK.

[ianguygil]

Glad to hear that worked out nicely for you. We try to please but as I have said many times in this forum we also comply with the relevant regulations and laws which apply to account opening, as is the responsibility of all Thai banks. As you nicely illustrate, it is not that difficult to get the valid required letters of reference in order for a frequent visitor to open an account.

Thanks again for posting this. While we are always keen to help resolve problems, it it nice to hear from satisfied customers. I have forwarded your post on internal email to provide positive feedback.

Good luck.

Edited July 17, 2010 by ianguygil

[BB1950]

I think a branch manager who has no English speaking staff will decline farangs as they will be a pain in his arse.

I certainly wouldn't attempt to apply for an account in a dinky little sub-branch in a shopping mall.

Why not??? I find the small mini-branches provide the fastest service, more personalized service, have shorter cues, longer hours of operation, and are open every day (even on Thai banking holidays!).

Most have staff that speak excellent English! There also is no dress code.

The only limitation is they don't provide all services; such as large withdrawals and many international banking services (such as checking). However they all provide international wire transfer services.

[jfchandler]

If anyone were to read thru some or many of the banking-related threads here on ThaiVisa, I believe you'd come to a single overwhelming conclusion:

For whatever reasons, there tends to be a very high degree of variability about bank practices in Thailand as relates to farang account openings. I'm sure some will say the rules are the rules. But in practice, in the real world, one bank company says no and another says yes to the same person. One branch of the same company says no and another branch says yes. One branch says no I-Banking, and another branch says yes.

So the simple answer is...if you are anywhere close to meeting the necessary criteria, just hit the streets and start visiting bank branches. Do a bit of research here on TV, and you may find that certain banks and even branch locations have new account policies that may be more accommodating to your particular situation or needs, so obviously start with them.

And as posts in this thread already demonstrate, some of the entirely non-banking related qualities -- like personal presentation, friendly and polite demeanor, sometimes even a bit of humor -- can go a long way toward smoothing over potential roadblocks. If you're turned down by a CSR, again as another post here demonstrated, sometimes moving up to a manager, especially in a smaller branch, can bear fruit.

Of course, the more established and settled a person may be in Thailand--such as with a long-term visa--is going to make things easier from the start. But those on other status also can still make banking arrangements here... Bringing a presentable Thai acquaintance can help, as can a letter of recommendation from a suitable person/entity.

Generally speaking, it's all about persistence.

[pkrv]

As a customer, I have been working quite hard with Bangkok Bank London and its Head office.

Bangkok Bank has been seriously working on its website for its UK London UK FX offering. There is some more clarification to come but the basics are in place.

It is interesting that Bangkok Bank offers two FX mechanisms one for smaller transfers one for larger transfers.

I used the 92 00 10 00 account but got the GBP TT rate transferred in Thailand (it was for 10,000 GBP). However things seem to be moving along.

I will still keep my existing bill payment (BACS transfer) instructions but in future for larger transfers iwill use the new

92 00 20 00 account number.

Still don't quite know the rate Bangkok Bank London give, its an outstanding question and one I am sure will be answered.

IMO GREAT STUFF! Things move on in life.

Dear Mr xxxxxx

1) To transfer funds via BACS to Thailand in THB at a charge of GBP15.00

where we convert in London at our exchange rate:

Sort Code: 60 93 98

Account Number: 92 00 10 00

Credit: [Name & last name of the person receiving

the funds in Thailand]

Reference: [The 10-digit Bangkok Bank account number in

Thailand] BKKBTHBK

2) To transfer funds to Thailand in GBP at a charge of GBP20.00 plus

0.25 % of the amount in the Thai Baht currency (minimum of THB 200,

maximum of THB 500 ). This will be converted in Thailand at the TT

rate:

Sort Code: 60 93 98

Account Number: 92 00 20 00

Credit: [Name & last name of the person receiving

the funds in Thailand]

Reference: [The 10-digit Bangkok Bank account number in

Thailand] BKKBTHBK

There is a difference in the account number. TT rate is only available

in Thailand. On larger amounts the customer is usually financially

better off by sending in GBP.

Our website is being revised to differentiate the 2 options, conversion

into THB in London or conversion into THB in Bangkok.

We hope this clarifies the matter. Please do not hesitate to contact us

if we may be of further assistance

Best regards

Pongsak

Edited July 21, 2010 by pkrv

[12DrinkMore]

As a customer, I have been working quite hard with Bangkok Bank London and its Head office.

Bangkok Bank has been seriously working on its website for its UK London UK FX offering. There is some more clarification to come but the basics are in place.

It is interesting that Bangkok Bank offers two FX mechanisms one for smaller transfers one for larger transfers.

So, although BACS is free apart from the artificial delay in the banking system, there is still either a 15 or a 20 Quid charge to export the cash to Thailand. And then there is the unknown GBP to THB exchange rate in the UK, which has always proven to be worse than the rate when the GBP's are converted in Thailand.

So it all depends on the exchange rate.

On the Thai site I can find the daily rate. Where can I find the rate that the BKK bank in the UK uses?

And what is the website address for the BKK bank in the UK so can verify the BACS transfer details you post above?

And why can't all these dam_n banks just use the IBAN code and stop messing about with BACS and SWIFT? And why should it take in the year 2010 three days to presuade a transaction to go through via BACS. The horse and cart died out some 100 years ago.

[Kwasaki]

The original question was opening a bank account in Thailand.

So many people have differents ways of dealing with any given money situation.

Up here in the mid north I have had no problems at all with opening my two bank accounts with seperate banks.

One is a joint a/c with Bangkok Bank.

The other is a sole account for visa purposes with Kasikorn Bank.

Both banks account were opened with 500bht and a passport.

The last bank that didn't charge 150 for a ATM withdrawal from UK in my case or wherever was Ayutthaya Bank

but they have just jump on the gravy train with the rest of the Thai banks.

[jfchandler]

Unlike all the Thai banks like BKK Bank, AEON ATMs are still fee-free on the Thailand end...

But if you're out in the boonies, you may not have an AEON ATM nearby...

Here's AEON's web site for locating their offices and ATMs in Thailand...

[pkrv]

As a customer, I have been working quite hard with Bangkok Bank London and its Head office.

Bangkok Bank has been seriously working on its website for its UK London UK FX offering. There is some more clarification to come but the basics are in place.

It is interesting that Bangkok Bank offers two FX mechanisms one for smaller transfers one for larger transfers.

So, although BACS is free apart from the artificial delay in the banking system, there is still either a 15 or a 20 Quid charge to export the cash to Thailand. And then there is the unknown GBP to THB exchange rate in the UK, which has always proven to be worse than the rate when the GBP's are converted in Thailand.

So it all depends on the exchange rate.

On the Thai site I can find the daily rate. Where can I find the rate that the BKK bank in the UK uses?

And what is the website address for the BKK bank in the UK so can verify the BACS transfer details you post above?

And why can't all these dam_n banks just use the IBAN code and stop messing about with BACS and SWIFT? And why should it take in the year 2010 three days to presuade a transaction to go through via BACS. The horse and cart died out some 100 years ago.

Yes sort of - the 20 GBP fee and 500 THB fee applies if you transfer GBP to Bangkok Bank and you get the TT rate - Great (for reasonable amounts and is equal to anything the UK banks can do BTW)

http://www.bangkokba...s/FX_Rates.aspx

The other option is the 15 GBP fee no charge at the Thai end convert UK end - I have no idea what rate is applied - I would guess bank note buying? but I don't know (yet )

Are you any good at EXCEL spread sheets I think you will sort of need these skills.

And BACS is all we really have as access to as retail (UK) banking clients. Unless the UK banks change - for retail - there is no other choice.

These guys (Bangkok Bank) are doing quite well but IMO are working through this stuff.

HOWEVER I can directly couple my Bangkok Bank passbook savings account to my UK account and now simply press a button - Good Stuff.

Will monitor as I say they are refining their offering - it works but needed a little more explaination on their web site which is now happening.

Edited July 23, 2010 by pkrv

[partington]

Just wanted to add my experience, as of 24th May 2010. I'd arrived in BKK about one week previously. I'm on a non-imm O visa (obtained 23rd Dec 2009 but not actually used to enter LOS until 13th May 2010 - unforeseen delays).

I was staying at a short term apartment on a one month lease at the time, while sorting out longer term accommodation. A bit heart in mouth I took the most reliable sounding advice in this thread and went direct to the Kasikorn Bank branch at Sukhumvit 33 (Bang Kapi). Grabbed a customer service ticket number from the machine and waited about 10 min for the number to come up at one of the service desks to the right hand side of the teller counters. Spoke to a charming (as usual) woman with pretty good english , asked to open an account. She was completely at ease, not puzzled or seeking advice, or treating the transaction as problematical. She did not ask if I had a work permit. She asked for:

1. passport, and obviously checked and photocopied the non Imm O visa

2. address in Thailand - I showed the card from the front desk at the serviced apartment I was at. I'd brought the signed one month lease copy but she didn't ask to see it

3. mobile phone number - I had picked up an 800B Nokia and a 100B Sim card from MBK the day before.

This is very necessary for K bank, as when you do online (K-Cyber) transactions they send you an SMS with a security code in real time that you enter to complete the transaction.

She filled in all the forms and also changed the 30,000B equivalent of GBP that I'd brought to deposit. I got a debit card on the spot, and a form with a PIN number to go online and set up my online (K-Cyber) banking. Whole thing took 15 min, painless, friendly, smooth and no sense of it being anything other than a completely routine transaction.

K-Bank also seems to provide pretty good service, although I haven't done much other than top up my mobile online and get cash from ATM's. Just two days ago did a telephone transfer of 1000GBP from my UK bank over the phone to my K-Bank account. Don't know if it's transferred successfully yet as it supposed to take 5 working days, but it's certainly left the UK account. My bank (Barclays) allows 5000GBP per day transfer by phone instruction, so if this works I should have no problems getting cash over here for condo deposits etc.

In short, I should just reiterate the advice on this thread-- if you're in BKK, you should try this bank, and this particular branch of this bank, first.

[tomparis]

Hi all,

I can also experienced same positive Kbank effect that Partington had.

Background: - just arrived in BKK, staying in hotel, waiting for WP & Visa (have 30 day tourist in passport), BUT have an office address I can use.

Tuesday afternoon: walked up Suk 21 and asked just about opening a Savings Account in the Bangkok bank (needed - visa & proof of perm address), Kbank (larger one, lower end of Asok - wanted address & Embassy letter), & Siam Commercial (on corner of X-roads 600m up Asok wanted WP & adress).

Wednesday going to get lunch saw a smaller Kbank.

Went in, immediately asked if can open an account and showed passport upon request, told OK.

Waited 20 mins (lunchtime = busytime).

Opened current account, 2 ATM/debit cards (600 bht each), online banking. the guy spoke good english and explained helpfully (inc 500 baht annual card renewal fee).

Cards worked same day (you need to change the PIN code).

I provided:

- passport (30 day tourist entry)

- some signatures

- my work address, they used this as an addess because I said I just arrived and was in a hotel

- 6000 cash baht into account

==> local phone number

The advice from earlier in the post seems good : JUST DO IT, and if you get a negative response be polite and thank people. then try again the next day (you could even try the same bank as it seems to be very indidividual).

KBANK, 33 SUKHUMVIT 21 (Asok), opposite the "GMM Grammy building) about 2/3 up Asok from the BTS/MRT towards Petchaburi MRT.

Good luck - Tom

Edited July 26, 2010 by tomparis

[Taro]

Just opened a bank account at Kasikorn in Hua Hin. Only needed passport and 500 baht (plus 300 for ATM card). They didn't ask any questions or required anything else. Took about 15 minutes.

[jfchandler]

Good post below, and a perfect example of what I described above.... just go out and keep knocking on bank doors... Eventually, someone's going to say yes to you . That's just the way it works around these parts regarding banks....

Hi all,

I can also experienced same positive Kbank effect that Partington had.

Background: - just arrived in BKK, staying in hotel, waiting for WP & Visa (have 30 day tourist in passport), BUT have an office address I can use.

Tuesday afternoon: walked up Suk 21 and asked just about opening a Savings Account in the Bangkok bank (needed - visa & proof of perm address), Kbank (larger one, lower end of Asok - wanted address & Embassy letter), & Siam Commercial (on corner of X-roads 600m up Asok wanted WP & adress).

Wednesday going to get lunch saw a smaller Kbank.

Went in, immediately asked if can open an account and showed passport upon request, told OK.

Waited 20 mins (lunchtime = busytime).

Opened current account, 2 ATM/debit cards (600 bht each), online banking. the guy spoke good english and explained helpfully (inc 500 baht annual card renewal fee).

Cards worked same day (you need to change the PIN code).

I provided:

- passport (30 day tourist entry)

- some signatures

- my work address, they used this as an addess because I said I just arrived and was in a hotel

- 6000 cash baht into account

==> local phone number

The advice from earlier in the post seems good : JUST DO IT, and if you get a negative response be polite and thank people. then try again the next day (you could even try the same bank as it seems to be very indidividual).

KBANK, 33 SUKHUMVIT 21 (Asok), opposite the "GMM Grammy building) about 2/3 up Asok from the BTS/MRT towards Petchaburi MRT.

Good luck - Tom

[regfrancis]

Im looking for the best interest on savings and the best internet account.

I tried AYUDHYA, good branch service but internet stops working after a few weeks. Have to go to branch to write letter to reset password. Did that five times and then realized they must not want my business.

Tried Krung Thai, ok internet but always zero interest for foreigners

K BANk ok internet but customer service seems to ignore you until you go crazy, and adding new internet payees is nearly impossible.

Also I need to open in Bangkok instead of Pattaya at the banks here charge a fortune to transfer cash between provinces. I pay people in BKK so dont want transfer fees every time.

Can any one tell me which bank pays best interest on savings with a working internet service.??

[jfchandler]

I've found the Bangkok Bank and Siam Commercial Bank's online banking systems to be very stable, easy to use and reliable....

As to interest earnings, I can't speak to that...

[aussiebebe]

I'd second the reccomendation of Bangkok Bank, the internet system has yet to fail me in two years of me being a customer. I don't know if it's the best as I haven't tried any others, but as it works flawlessly and the Bank has the best International Funds Transfer Service, I've seen no need to try any others. In the past I've had savings accounts (not online) with Kasikorn and TMB, no interest was ever paid, Bangkok Bank pays next to no interest, less than 0.5%, but at least it pays some. To earn the best interest you'll need to invest, not leave savings languishing in a savings account and most foreigners trust their home country's institutions. For example, many Brits I know open accounts with banks in the Isle of Wight, or Isle of Man, using their non-resident status in the UK to earn interest paid gross of tax. In Thailand you can buy Mutual Funds (Bangkok Bank, which have annual management fees) or Index Funds (TMB for example), and if you have Permanent Residency in Thailand you can invest in Bonds.

[lifemagic]

REPORT: Kasikorn, soi 33 Sukhumvit, next to Villa Supermarket.

On the advice of the forum, I went yesterday. Situation, British Passport, Non-O visa 1yr from Hull, arrived one month ago. Had local address (Banglampoo hotel) and mobile number handy.

I pressed the option for 'new account', got a number. Waited. Went to the desk and asked to open an account and was asked for a passport. Turned out she misunderstood and thought I was asking to service an existing account. I said I'd like to open one and straight up she asked for a work permit. I said I have a non-o is that OK and she said definitely not. I asked how long that's been policy but she didn't understand, and got some guy on the phone, who also didn't really speak English, but basically explained that without a work permit, I'd need to turn up with either a utility bill or a 'Thai friend' to confirm that I'm living in Thailand.

He kept using the phrase 'the officer has said she wants...' and I got the feeling it wasn't a head office decision, but he was relating what she wanted.

The whole transaction was friendly and polite. I didn't get any funny looks or comments. I'm casually dressed, Eurasian in appearance if that makes any difference.

So, either it's changed there, or I was unlucky, or it's something about me -- I don't know.

I might try the Bangkok Bank in Silom tomorrow. I don't really, really need it to be frank. Just, I've bonded my savings for a better interest rate, and have one year's money in a zero interest account, linked to a foreign debit card. I thought this would be better, a Thai baht account with token interest and free atm use.

Not the end of the world.

[lifemagic]

Me again.

Actually, I just looked at the link I found on this forum, for foreigners opening an account at Bangkok Bank, Silom Branch.

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Foreign%20Customers/Pages/Opening%20an%20account%20new.aspx

... and the requirements for my visa type aren't really different to what they asked for in Kasikorn yesterday. My best bet is a Thai person to confirm I live here (as I'm moving about on independent income), and I could just get someone to fill the form in for me.

Thing is, yesterday I had to ask the hotel manager if I could use her mobile number to receive a PIN SMS and, (I don't use mobiles) although she gave me it, she seemed a tad hesitant.

To go back tomorrow, ask her for a reference and a copy of her Thai ID is going too far; I've only been there a week!

So, it's back to the drawing board for me... but I'll watch the thread with interest.

[jfchandler]

Go for the BIG time...

Head on down to MBK, drop 1000 to 2000 baht on a cheap, simple new Nokia mobile, then go to your local 7-11 and buy a XX baht prepaid SIM card package from one of the main carriers like True, AIS or DTAC. You'll find it will make life, and the bank account opening process, go much more smoothly.

If you have a non-O visa, you ought to be able to open an account at Siam Commercial... Try their branch at the Emporium or Siam Paragon...

Thing is, yesterday I had to ask the hotel manager if I could use her mobile number to receive a PIN SMS and, (I don't use mobiles)...

[partington]

REPORT: Kasikorn, soi 33 Sukhumvit, next to Villa Supermarket.

On the advice of the forum, I went yesterday. Situation, British Passport, Non-O visa 1yr from Hull, arrived one month ago. Had local address (Banglampoo hotel) and mobile number handy.

I pressed the option for 'new account', got a number. Waited. Went to the desk and asked to open an account and was asked for a passport. Turned out she misunderstood and thought I was asking to service an existing account. I said I'd like to open one and straight up she asked for a work permit. I said I have a non-o is that OK and she said definitely not. I asked how long that's been policy but she didn't understand, and got some guy on the phone, who also didn't really speak English, but basically explained that without a work permit, I'd need to turn up with either a utility bill or a 'Thai friend' to confirm that I'm living in Thailand.

He kept using the phrase 'the officer has said she wants...' and I got the feeling it wasn't a head office decision, but he was relating what she wanted.

The whole transaction was friendly and polite. I didn't get any funny looks or comments. I'm casually dressed, Eurasian in appearance if that makes any difference.

So, either it's changed there, or I was unlucky, or it's something about me -- I don't know.

I might try the Bangkok Bank in Silom tomorrow. I don't really, really need it to be frank. Just, I've bonded my savings for a better interest rate, and have one year's money in a zero interest account, linked to a foreign debit card. I thought this would be better, a Thai baht account with token interest and free atm use.

Not the end of the world.

I find this so weird, though I suppose I shouldn't, since everyone always says that different branches, and even the same branch on different days, have different understandings or policies about account opening. But as I reported, this same branch just a couple of months ago presented no problems at all! How do they train people here? How can this happen? Well TIT I suppose.......

Edited August 17, 2010 by partington

[edwardandtubs]

I think it's all a question of your own attitude when you go in to the branch. If you're too passive or too aggressive you won't get what you want. If you're polite and pleasant but assertive, you will. It's all a question of whether they want your business.

[PattayaParent]

I find this so weird, though I suppose I shouldn't, since everyone always says that different branches, and even the same branch on different days, have different understandings or policies about account opening. But as I reported, this same branch just a couple of months ago presented no problems at all! How do they train people here? How can this happen? Well TIT I suppose.......

It seems with as little information as possible so that the trainee cannot become as knowledgeable / smart as the trainer.

And when the trainee is faced with a situation that is not familiar, instead of seeking advice from someone superior they resort to the 'cannot' 'no have' default mode so the problem will go away.

[lifemagic]

It's one of three things perhaps.

1 -- This particular teller wasn't confident of her English so just said no to be safe.

2 -- My Asian appearence. It's not SEA origin, but half Indian, so I appear middle eastern.

3 -- Recent policy change.

Or perhaps four, bad luck. Perhaps other people can report their experiences there... though if other people now report it's OK for them there I"m not sure how I'll feel.

[blyish]

oops. Wrong place.

Edited August 22, 2010 by blyish