Thai Bank Account

[glenn88]

Hi..

What would be the best Thai bank account to open and to transfer from Australia to this Thai account?

I will be retireing there soon and wish to transfer the required 800,000thb into this account.

thanks for you help.

[phuketrichard]

many banks will ask for a non immigrant visa so make sure u have one.

I have acocunts at Bangkok Bank and Siam CommercialBank (also online access)

[petercallen]

I use the SCB, The 800K is the minimum balance required in your Thai bank account

for three months before you apply for your visa extension , you need to get your Non O visa in Australia

or another country they are not issued in Thailand

I use the NAb in Australia, They will not do Internet banking transfers to Thailand at present,

I go to the bank myself when in Australia to do the money transfer, otherwise my son is

authorized to do money transfers for me if i require.

[LivinginKata]

I second the Siam Commercial Bank. Always found them very helpful.

[KarenBravo]

Ask your bank in Australia who is their agent bank in Thailand. It will probably be Bangkok Bank.

Then, open a bank account with your Aussie bank's agent bank.

The way it works is that a foreign bank will send all money transfers from that country to it's agent bank first. Then the agent bank will send it on to the bank that it is intended for.

If you use the agent bank, your transfers will arrive quicker.

[Old Croc]

Before I left Australia I opened a Westpac account because my research showed it was the easiest bank to do international transfers online.

I can transfer a max of $10,000 per day to my Thai bank without leaving the house. Each transfer costs $20 and is simply done. I did a transfer on Thursday this week and it was in my account on Friday.

As others have mentioned SCB are very good although their exchange rates always seemed to be on the lower end of the scale to me.

Kasikorn or Bangkok Bank are also favoured by many here.

[LivinginKata]

As others have mentioned SCB are very good although their exchange rates always seemed to be on the lower end of the scale to me.

Kasikorn or Bangkok Bank are also favoured by many here.

Interesting to read that. In my research I found the SCB offered the best exchange rates. I just checked the rates from all 3 banks at close of play on Friday and appears that SCM still offer the best rate based on T/T transfer.

SCM A$ = 32.06875 BB A$= 32.02 Kas A$ = 31.95625

[Old Croc]

As others have mentioned SCB are very good although their exchange rates always seemed to be on the lower end of the scale to me.

Kasikorn or Bangkok Bank are also favoured by many here.

Interesting to read that. In my research I found the SCB offered the best exchange rates. I just checked the rates from all 3 banks at close of play on Friday and appears that SCM still offer the best rate based on T/T transfer.

SCM A$ = 32.06875 BB A$= 32.02 Kas A$ = 31.95625

I haven't looked at the comparisons for a while so I guess things have changed.

When I first arrived in Phuket last year I checked daily for some months. SCB was always in the lowest couple of banks for the Oz dollar.

United Overseas Bank always paid the best, followed by BB and Kas.

[lopburi3]

I use the SCB, The 800K is the minimum balance required in your Thai bank account

for three months before you apply for your visa extension , you need to get your Non O visa in Australia

or another country they are not issued in Thailand

I use the NAb in Australia, They will not do Internet banking transfers to Thailand at present,

I go to the bank myself when in Australia to do the money transfer, otherwise my son is

authorized to do money transfers for me if i require.

Two errors in the above - 800k is only required for two months for first retirement extension of stay and you do not need to obtain non immigrant O in Australia - it can be from anywhere or even obtained inside Thailand from Immigration during the extension of stay process as an extra step. But if in Oz best to arrive with it to lessen paperwork here.

[sanuk21]

As others have mentioned SCB are very good although their exchange rates always seemed to be on the lower end of the scale to me.

Kasikorn or Bangkok Bank are also favoured by many here.

Interesting to read that. In my research I found the SCB offered the best exchange rates. I just checked the rates from all 3 banks at close of play on Friday and appears that SCM still offer the best rate based on T/T transfer.

SCM A$ = 32.06875 BB A$= 32.02 Kas A$ = 31.95625

Why choose close of play in Thailand for the comparison rates. I have found banks in Oz generally perform their telex transfer transactions close of play 4pm Sydney time. ie 1pm Thailand Time.

Rates last Friday 1pm Thailand Time SCB A$ = 32.00125 BB A$ =32.02

Sanuk

[LivinginKata]

Interesting to read that. In my research I found the SCB offered the best exchange rates. I just checked the rates from all 3 banks at close of play on Friday and appears that SCM still offer the best rate based on T/T transfer.

SCM A$ = 32.06875 BB A$= 32.02 Kas A$ = 31.95625

Why choose close of play in Thailand for the comparison rates. I have found banks in Oz generally perform their telex transfer transactions close of play 4pm Sydney time. ie 1pm Thailand Time.

Rates last Friday 1pm Thailand Time SCB A$ = 32.00125 BB A$ =32.02

Sanuk

Because the last published rate was close of banks in Thailand on Friday. SCB rate published at 17.22. Rates will only be updated when banks open on Monday. As I posted today (Sunday) that was the most recent rate.

[phuketlen]

According to a the "international law office" of Phuket, you should probably use a law firm like theirs to open a bank account here. I don't think I can post the link to their article in the Phuket Gazette that explains why or their website here but you should be able to find them easily by googling them! good luck!

[LivinginKata]

According to a the "international law office" of Phuket, you should probably use a law firm like theirs to open a bank account here. I don't think I can post the link to their article in the Phuket Gazette that explains why or their website here but you should be able to find them easily by googling them! good luck!

Why on earth would you need to pay an expensive law firm to open a bank account ...

This is just nonsense for a private individual.

[petercallen]

According to a the "international law office" of Phuket, you should probably use a law firm like theirs to open a bank account here. I don't think I can post the link to their article in the Phuket Gazette that explains why or their website here but you should be able to find them easily by googling them! good luck!

Why on earth would you need to pay an expensive law firm to open a bank account ...

This is just nonsense for a private individual.

I agree with you its a simple thing to do yourself,

Although the bloke we bought the house from used a law firm for everything,

I reckon he must have been there favourite client

[petercallen]

I use the SCB, The 800K is the minimum balance required in your Thai bank account

for three months before you apply for your visa extension , you need to get your Non O visa in Australia

or another country they are not issued in Thailand

I use the NAb in Australia, They will not do Internet banking transfers to Thailand at present,

I go to the bank myself when in Australia to do the money transfer, otherwise my son is

authorized to do money transfers for me if i require.

Two errors in the above - 800k is only required for two months for first retirement extension of stay and you do not need to obtain non immigrant O in Australia - it can be from anywhere or even obtained inside Thailand from Immigration during the extension of stay process as an extra step. But if in Oz best to arrive with it to lessen paperwork here.

You could be right but in the booklet issued by Phuket Immigration it states,

Documents required for a retirement visa applicant

Passport with a valid Non immigrant visa, which means to me that you need to

get a visa overseas before you can apply for one here.

I know the law firms advertise Non O visas at 25000 Baht which only cost approx

6000 baht where i come from, Buys a lot of tea.

Proof of pension not less than 65000 Baht per month or an amount exceeding

800000 baht for the last three months in a Thai bank with a letter from the bank

confirming this :jap:

[stevenl]

Peter,

Nobody on thai visa knows more about this than lopburi. So please don't try to confuse the issue.

Edited May 23, 2011 by stevenl

[petercallen]

Peter,

Nobody on thai visa knows more about this than lopburi. So please don't try to confuse the issue.

Are you saying the booklet supplied by Phuket immigration is wrong Steven

[KarenBravo]

I use the SCB, The 800K is the minimum balance required in your Thai bank account

for three months before you apply for your visa extension , you need to get your Non O visa in Australia

or another country they are not issued in Thailand

I use the NAb in Australia, They will not do Internet banking transfers to Thailand at present,

I go to the bank myself when in Australia to do the money transfer, otherwise my son is

authorized to do money transfers for me if i require.

Two errors in the above - 800k is only required for two months for first retirement extension of stay and you do not need to obtain non immigrant O in Australia - it can be from anywhere or even obtained inside Thailand from Immigration during the extension of stay process as an extra step. But if in Oz best to arrive with it to lessen paperwork here.

You could be right but in the booklet issued by Phuket Immigration it states,

Documents required for a retirement visa applicant

Passport with a valid Non immigrant visa, which means to me that you need to

get a visa overseas before you can apply for one here.

I know the law firms advertise Non O visas at 25000 Baht which only cost approx

6000 baht where i come from, Buys a lot of tea.

Proof of pension not less than 65000 Baht per month or an amount exceeding

800000 baht for the last three months in a Thai bank with a letter from the bank

confirming this :jap:

If you read lopburi's post properly, it refers to the first visa extension, not first application.

The Thai immigration pamphlet refers to the first application for a retirement visa.

Sheesh!

Edited May 23, 2011 by KarenBravo

[stevenl]

Peter,

Nobody on thai visa knows more about this than lopburi. So please don't try to confuse the issue.

Are you saying the booklet supplied by Phuket immigration is wrong Steven

I am saying you are confusing the issue, maybe read lopburi's answer again?

[petercallen]

Peter,

Nobody on thai visa knows more about this than lopburi. So please don't try to confuse the issue.

Are you saying the booklet supplied by Phuket immigration is wrong Steven

I am saying you are confusing the issue, maybe read lopburi's answer again?

Fair enough in my first post i told the OP to make sure he had a Non O visa before he arrived

Correct me if i am wrong, you still need a minimum of 800K baht in a Thai bank account for at

least 3 months to apply for a visa extension not 2 months

[stevenl]

See lopburi's answer, you're confusing the issue.

[petercallen]

See lopburi's answer, you're confusing the issue.

Steven Lopburi says you need 800K in a Thai bank account for 2 months for your first extension

The official booklet from Phuket immigration says 3 months.

The booklet is 2 years old but i doubt they are making it easier to extend a visa

[stevenl]

Peter, if you think you know better, good for you.

But if you really want to know, check thai immigration website and you'll see lopburi is spot on.

[LivinginKata]

Peter, if you think you know better, good for you.

But if you really want to know, check thai immigration website and you'll see lopburi is spot on.

Looks like lopburi is correct in saying first application only requires funds in bank for 60 days, the following years applications require 3 months in bank.

Link ---> http://www.immigration.go.th/nov2004/doc/temporarystay/policy777-2551_en.pdf

and scroll down to 2.22(4). This is the most recent police order that I can find 777/2551. that's over 3 years old.

Mind that Phuket Immigration often interpretes the rules as they think it should apply.

[Ping]

Phuket Immigration works on the basis of two months for the first extension application (and, of course, three months for subsequent ones).

[petercallen]

Phuket Immigration works on the basis of two months for the first extension application (and, of course, three months for subsequent ones).

Fair enough but it does not say that in there official booklet which i have had for over 2 years

They must have changed the rules

[petercallen]

See lopburi's answer, you're confusing the issue.

You sound like a stuck record Steven

Do you know anyone who obtained there original Non O visa it Thailand

I think you should read the posts again

[katabeachbum]

Phuket Immigration works on the basis of two months for the first extension application (and, of course, three months for subsequent ones).

which for once is logical

If you come here to retire on a non imm O 90 days, deposit 800k in thai account after arrival, you have 60 days until you need to apply for 1st one year extension.

Next year you have more time, thus deposit time increased to 90 days

[sanuk21]

See lopburi's answer, you're confusing the issue.

You sound like a stuck record Steven

Do you know anyone who obtained there original Non O visa it Thailand

I think you should read the posts again

Hi Peter

I obtained my original Non O in Thailand.

Very easy procedure to change a Tourist Visa to a Non O.

Less documentation required than in Oz.

Cheers

Sanuk

[kalbow666]

G'day Glenn

I use ANZ in Oz and opened an account with the Kasikorn Bank - only because I liked the colour of their logos etc - green But seriously I use www.XE.Com to move currency around. I found their rates better than the bank's, and transfers seem to be quick.

Also, I did all the 'paperwork' once I got to Thailand as there was so much more to do in your 'home country'.

Cheers

Kalbow