No Work Permit=no Bank Account?

[joinme2leave]

could not find relevant topic (or too old topics only) so here's my todays experience:

1) Kasikorn

2) Siam Commercial

3) Thai Farmers

4) Bangkok Bank

all of them would not allow me to open a new bank account (using ATM card only for the beginning) without having a work permit!!!!

WHAT THE <deleted>

Lots of friends do have their own bank accounts (some of them permanently living in Los (and having work permits), some of them just beeing frequent thailand travellers)---and all of them did not have a single problem (passport and thai address was just enough to proceed...)

I am here on biz research (tourist visa) and not willing to establish a company yet. Too early, too epensive (if we talk about the 2 million bht requirements).

Carrying around lots of cash is more than inconvenient (and I am travelling around asia quite a lot these months so I need some cash available on daily basis).

ANY SOLUTIONS?

As about me, I have got my account but it is in my future thai partners name. Not funny but obviously (?) the only solution I was able to manage.....

[Harmonica]

Were you wearing a shirt or did you just sock it to them, tattoes, thong and all?

[joinme2leave]

white socks, tons of tattoos, no shave for a month and a Leo Beer bottle in my hand......thxs for your input so far Harmonica.....love it

[Harmonica]

could not find relevant topic (or too old topics only) so here's my todays experience:

1) Kasikorn

2) Siam Commercial

3) Thai Farmers

4) Bangkok Bank

all of them would not allow me to open a new bank account (using ATM card only for the beginning) without having a work permit!!!!

WHAT THE <deleted>

Lots of friends do have their own bank accounts (some of them permanently living in Los (and having work permits), some of them just beeing frequent thailand travellers)---and all of them did not have a single problem (passport and thai address was just enough to proceed...)

I am here on biz research (tourist visa) and not willing to establish a company yet. Too early, too epensive (if we talk about the 2 million bht requirements).

Carrying around lots of cash is more than inconvenient (and I am travelling around asia quite a lot these months so I need some cash available on daily basis).

ANY SOLUTIONS?

As about me, I have got my account but it is in my future thai partners name. Not funny but obviously (?) the only solution I was able to manage.....

its possible things have changed but it wasn't more than a few weeks ago that I saw 2 Europeans opening savings accounts at SCB -- chatted with them and it was clear they were just tourists -- definitely no work permits. Haven't really kept up with these regs -- opening the account in your future partner's name? Ouch! That hurts just thinking about it!

[penzman]

8 months ago I opened a bank account at Bangkok Bank in Chonburi and also got an ATM card. I did not have a work permit at the time but showed the teller an english copy of my work contract (with ex-employer ) and it was accepted.

[joinme2leave]

not really hurts....password (ATM) is choosen by myself. biz partner is not my g/f. she's government employee and help me "out of trouble" in this particular respect. Account will be cleared b4 I leave. Still I feel a bit confused about that obvious "new rule" ... or I simply did not take enough time to find the "best deal". Whatever, mistrust is not the problem....it's just I would have enjoyed to open MY REAL OWN account....kaow chai mai?

[joinme2leave]

penzman...understood your point.....(well done!!!) .. but I do not have any "ex"-employer's work contracts in my hand....maybe I should head towards KSR tomorrow morning and ask for a good copy????

[hayashi]

penzman...understood your point.....(well done!!!) .. but I do not have any "ex"-employer's work contracts in my hand....maybe I should head towards KSR tomorrow morning and ask for a good copy????

<{POST_SNAPBACK}>

I opened up a bank account with bangkok bank last week on sukhumvit road last week i just took my passport along took about 15mins no proplems atm card as well.

[britmaveric]

One of my mates - took one of the tellers out and becomes mates with her. He's a frequent traveler and she sorted him out no problem.

[joinme2leave]

brit...will take that into consideration for my next bank account..thanks a lot....

[peter991]

I opened a bank account with DBC, first floor, Royal Garden Plaza, Pattaya. Took 15 minutes. Just presented my Australian passport. Received bank passbook, ATM card and PIN number. Handed over the 3000 baht needed to open the account. No problems. Went outside, changed my PIN at the ATM (instructions in English or Thai).

You can use your own country's debit card at most ATM if it has a Maestro or Cirrus logo on the back of the card. Also all ATM will accept foreign credit card (Visa or Mastercard) if you have a PIN on the card. I get charged $AU1.25 for each transaction.

Cheers

Peter

[RDN]

... she sorted him out no problem.

<{POST_SNAPBACK}>

Yeah, but what about the account?

[britmaveric]

... she sorted him out no problem.

<{POST_SNAPBACK}>

Yeah, but what about the account?

<{POST_SNAPBACK}>

[bartender100]

Really can't see why you are having a poblem,what sort of account are you trying to open?

Try telling them you have to transfer some money,and need an account to do so,just keep quiet and tell them you have 1/2 million Baht on its way .

[Krub]

Last December I went to Bangkok Bank Branch in Uttaradit (very provincial town)

Tourist 30 days stamp in passport only

First the teller said 'no'

Then I showed him a print copy of the following page from their web site:

http://www.bbl.co.th/Bangkok+Bank/Personal...d+Questions.htm

He then called the 1333 number and smiled broadly. All was OK.

Took copy of my passport and I had to give a local address.....(gave my friend's)

Account book and ATM card given within 10 minutes with a lot of smiles.

If I recall correctly the cost of 250 bahts was for the ATM card also 100 bahts for the opening of the account itself

Good luck

[Jai Dee]

Another way of opening a new account (if you do not have a work permit) is to provide a letter from your "employer" requesting an account be set up in your name and stating that your salary is to be paid into it.

[PeaceBlondie]

Since this forum includes the term 'VISA' I wonder if part of his problem is his tourist visa. I went in with my employer, to get my salary deposited directly, and we each got a savings account mucho pronto. But my mate and I both had B visas, no work permits.

I've heard of various people getting accounts in the past year, but suspect that most of them had a higher category of visa than tourist.

[Krub]

Since this forum includes the term 'VISA' I wonder if part of his problem is his tourist visa.  I went in with my employer, to get my salary deposited directly, and we each got a savings account mucho pronto.  But my mate and I both had B visas, no work permits.

I've heard of various people getting accounts in the past year, but suspect that most of them had a higher category of visa than tourist.

<{POST_SNAPBACK}>

I only had a 30 days tourist stamp (not even a visa!) and no problems at Bangkok Bank

[thaiflyer1]

Cant understand why you were knocked back by Siam Commercial, maybe try a different branch? You dont need a work permit to open a savings account thats for sure........when you think about it how would retirees/those supporting wives go on when they need to show money in the bank here if you did need a work permit. Even a tourist visa should be acceptable ive got accounts with SCB and Thai Farmers both opened initially on tourist visa's (albeit a while ago). It was a savings account you were trying to open wasnt it? If it was a current account then thats a different ball game.

Edited February 5, 2005 by thaiflyer1

[Harmonica]

... she sorted him out no problem.

Yeah, but what about the account?

[ovenman]

The Bank of Thailand had instituted a new policy back in 2000 or so under which all foreigners opening bank accounts were required to have work permits. The intent behind this regulation was to eliminate money laundering by foreigners (as though there are no Thais involved in that activity!). This new regulation was enforced for about two or three weeks, then rescinded. Unfortunately, this information did not seem to filter its way out to many bank branches...

[Amethyst]

hey go to the bank head office and oppen up a saving account ..no problem there...before i got a WP ...i obtain a SCB,BBKBANK,KTB saving account no problem

[srisatch]

Remember, if you go away and then come back....they charge for the ATM cards annually...if you don't have the requisite 100/50Baht or whatever in the account they will close it..otherwise no problem...

The best deal I have found is the BKK Premier (Silver) card ...allows you to take money out of your Thai bank account anywhere..UK/US/OZ

Edited February 6, 2005 by srisatch

[astral]

Try Krung Thai bank.

Mind you I have a feeling that the banks simply do not want ANY money these days............

Strange.

[Digger]

Mate of mine walked in Siam Commercial 2 weeks ago in Pattaya and opened a savings account, got an electron card for international withdrawals and Internet banking. He should not have got the last 2 without work permit for sure but go figure

[andyadam]

You could get a savings account with a 30day stamp!!!!!Bangkok Bank

[bkk_mike]

You don't say where you tried? (i.e. what part of the country are you in).

It was fairly high profile a few years ago that only people with work permits could open an account. The change to allow it again wasn't high profile at all.

If you're somewhere upcountry, where you're the only foreigner in the area, it's quite possible the bank staff don't know of the change, so assume it's not allowed. Although you might do better if you get introduced by someone who already has an account there (with money in it...)

On the other hand, if you're in Pattaya or central Bangkok, they're so used to opening accounts for foreigners that you should have no problems. (at least for a simple savings account with ATM card).

[fire and ice]

I have only a 30-day stamp & I opened a passbook account with ATM card (200B for ATM card) at Siam City Bank at a Northern Bangkok Branch about 2 weeks ago. Was able to immediately change my PIN & successfully withdrew 500B (that night as a test) of the 2000B I put in to open the account.

The amusing part was that I though (until I read the above posts) that these restrictions were still in place and I was not going to be able to open an account. The teller also said there were restrictions but since I thought so too I wasn't going to argue with him - he knew I only had a 30 day stamp. But my GF told him I was goign to put a lot of money into the account and he then had no problem giving my an account. We put down her ID card address as my address. All quite amusing and a big releif as it has saved me a lot of hassles.

People should take note! Siam City Bank has the best exchange rates (definitely for A$, but pretty sure for all currencies). It is astounding the difference you get when shopping around, each bank makes a different sales margin on forex - they all say "no commission" which is like a shop saying they make no commission on stock. Completely true but they make a profit on the buy/sell spread - either way everyone loses a bit when changing money as I'm sure most people are aware.

But western banks make a vastly larger margin than Thai banks. I checked simultaneous exchange rates on offer between the Thai banks and my National Australia Bank back home - all within the same 30 minute period. To illustrate the relative profit margins lets say the A$ buys 100 baht (It doesn’t, it really buys about 30 baht but I want to draw attention to %s here). My Aussie bank will offer its customers about 95 baht and sell for 105 baht - that’s 5% each way. The Thai banks typically will offer 99 & 101 as their buy/sell rates. Far far better. I'm sure most western banks rip everyone off like my bank back home. But Siam City Bank's rates are a little better than even the other Thai banks - about 99.25 buy & 100.75 sell. The best rates are if you TT the money but their cash rates are equally the best too.

So when I just transferred A$15,000 into my Thai account, I only lost 0.75% on exchange (about $112.50) because I sent A$ and the Siam City Bank converted it to Baht. If I had been an idiot and asked my bank in Australia to convert it I would have lost about 5% - $750 !! I would have thrown away an extra A$637.50.

Bear in mind that when you use an overseas ATM card here you get YOUR bank’s rate from home - ie: the rip off rate. Forget the $4 or $1.25 fee the bank charges per transaction - that’s trivial - its the exchange rate margin they make their money one!! The main reason I opened a Thai account was so I could get the Thai exchange rate!

[dvk1951]

I have only a 30-day stamp & I opened a passbook account with ATM card (200B for ATM card) at Siam City Bank at a Northern Bangkok Branch about 2 weeks ago. Was able to immediately change my PIN & successfully withdrew 500B (that night as a test) of the 2000B I put in to open the account.

The amusing part was that I though (until I read the above posts) that these restrictions were still in place and I was not going to be able to open an account. The teller also said there were restrictions but since I thought so too I wasn't going to argue with him - he knew I only had a 30 day stamp. But my GF told him I was goign to put a lot of money into the account and he then had no problem giving my an account. We put down her ID card address as my address. All quite amusing and a big releif as it has saved me a lot of hassles.

People should take note! Siam City Bank has the best exchange rates (definitely for A$, but pretty sure for all currencies). It is astounding the difference you get when shopping around, each bank makes a different sales margin on forex - they all say "no commission" which is like a shop saying they make no commission on stock. Completely true but they make a profit on the buy/sell spread - either way everyone loses a bit when changing money as I'm sure most people are aware.

But western banks make a vastly larger margin than Thai banks. I checked simultaneous exchange rates on offer between the Thai banks and my National Australia Bank back home - all within the same 30 minute period. To illustrate the relative profit margins lets say the A$ buys 100 baht (It doesn’t, it really buys about 30 baht but I want to draw attention to %s here). My Aussie bank will offer its customers about 95 baht and sell for 105 baht - that’s 5% each way. The Thai banks typically will offer 99 & 101 as their buy/sell rates. Far far better. I'm sure most western banks rip everyone off like my bank back home. But Siam City Bank's rates are a little better than even the other Thai banks - about 99.25 buy & 100.75 sell. The best rates are if you TT the money but their cash rates are equally the best too.

So when I just transferred A$15,000 into my Thai account, I only lost 0.75% on exchange (about $112.50) because I sent A$ and the Siam City Bank converted it to Baht. If I had been an idiot and asked my bank in Australia to convert it I would have lost about 5% - $750 !! I would have thrown away an extra A$637.50.

Bear in mind that when you use an overseas ATM card here you get YOUR bank’s rate from home - ie: the rip off rate. Forget the $4 or $1.25 fee the bank charges per transaction - that’s trivial - its the exchange rate margin they make their money one!! The main reason I opened a Thai account was so I could get the Thai exchange rate!

<{POST_SNAPBACK}>

Fire & Ice,

Some very valuable (not to mention profitable) info, thanks for sharing it

[Jack Jones]

only had a 30 days tourist stamp (not even a visa!) and no problems at Bangkok Bank

I'll echo that. I've got a Bangkok Bank account, opened on a 30 day tourist visa - but then I did smile sweetly at the cashier