Opening A Thai Bank Account?

[JohnUK]

I am buying a new build condo in Thailand as a future holiday home. Over the next year I will need to make regular payments to the developer which I currently do by making an international money transfer in Baht from my UK Barclays or HSBC bank account and send direct to the developer's KBank account. I am paying a fee each time and worst of all getting a terrible rate of exchange. Can someone advise whether KBank or Bangkok Bank or another bank will allow a foreigner who is a non-Thai resident to open a Thai Current Account or Savings Account, and does it have to be opened in person?

[PoeDogg]

Siam Commercial Bank (SCB).

I think it has to be opened in person, as they copy your passport and have you sign some documents......but then again, TIT.

[CharlieH]

In person, Passport and THAI address NOT hotel.(savings account no interest)

If you want a better rate from trnasfers try HIFX, tranfer your money to them they'll pay whoever and the exchange rate is better and NO fees.

www.hifx.co.uk

Hope this helps.

[bobroper]

Hi John

I'm Bob UK and have only just purchased a new condo in Bangkok. Very straighforward procedure.

1. I already had a Thai Bank account with Bank of Ayudhya. Need to go to any branch with your passport and address in Thailand (not hotel) and opening deposit of B500 or more.

2. In my case, I transferred a lump sum from a UK bank in pound sterling to my Thai bank account which was then exchange into Thai baht.

3. I paid a deposit to the developer of the property and the balance on completion. These monies were paid by bankers cheque.

4. As the money was for the purchase of a condo you will need to ask (whichever bank you choose) for an official bank letter informing the developer that the money transferred from the UK was for a condo purchase.

5. If the money transferred from the UK is over $30,000 (unless this amount has changed) you will also need to complete at the bank a Foreign Exchange Transaction form.

Hope this helps.

[Renbe]

Opened a bank account with KTB Branch Chiang Dao in March 2010 while in Thailand on a 2 month Tourist Visa

KTB asked to see my passport - when asked for address I told did not have yet, but that I did needed an account

to transfer 800.000 baht for a one year visa non Immigrant Visa, this was accepted without a problem.

Transferred 50.000 euro last week, no form required. KTB told me I can wait to exchange until I find

the exchange rate more favorable (was 40.26 on Friday, KTB offered 40.50.

They also told me they would inform Department of something something?!?! in Bangkok, in case I want to transfer the 50K out of Thailand

again in the future.

[futurespeter]

Siam Commercial Bank (SCB).

I think it has to be opened in person, as they copy your passport and have you sign some documents......but then again, TIT.

... yes, SCB is easy and uncomplicated (like many other Bank's), and opening online-banking by your self same way simple ...

https://www.scbeasy....on/index_en.asp

http://www.scb.co.th/index_en.shtml

[nong38]

I would go along with bobroper said. I came with a cheque to open account, K Bank email very helpful, got here K Bank did not want to know, Bank of Ayudhya had English speakers and that was the key I think. Passport, Thai address and had to be here for over a month. Cashing cheque I think was about 300bts and took a month, but at Thai rate, Cant help with condo aspect, but good luck.

[Scottish Thailander]

Maybe try talking to the London branch of Bangkok Bank?

http://www.bangkokbank.com/Bangkok%20Bank/About%20Bangkok%20Bank/About%20Us/International%20Branches/Pages/Branch%20in%20UK.aspx

ST.

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