New Rules For Bank Account?

[kaffeburk]

Wanted a new bank account. I have student visa. Was told there is a new law, a Thai citizen must guarantee in order for me to have a bank account. I told the manager i was single and not any Thai-persons property or in need of a handler. Another way to "help" getting us dependent so someone can get leverage to extract our money? Any workarounds, just go to the next bank?

[Jingthing]

Try different banks. Especially Kasikorn. Not aware of a new national rule.

[CWMcMurray]

Are you at a University?

If so, they should also be able to help. I had an ED visa and university advised that tuition payments needed to be deducted from SCB bank account and assisted me in setting up account

Or if not just check with other banks or branches, as was also able to open an account with Bangkok Bank with ED visa without a problem (although this was about 6 years ago)

Sent from my iPhone using ThaiVisa app

[uptheos]

My son was over here recently on a visit and opened a bank account without any problem, at Bangkok Bank.

[mickjn]

Green Bank,no problems

[overherebc]

Are there any banks out here where you can open a foreign currency account without first deposit of 10,000 sterling , as I have been told ?

[SeaVisionBurma]

Are there any banks out here where you can open a foreign currency account without first deposit of 10,000 sterling , as I have been told ?

Off topic for this thread - might pay to do a search, or better yet open a new topic for that query if you don't get any replies here. Cheers.

[SeaVisionBurma]

Off topic post and reply quoting it removed.

OP - I was asked to provide a local person to accompany me to open a new account last week - this didn't bother me, as I know different branches have different policies since the new regulations came in last year. I went to a different branch.

[bangkokburning]

When you open an account, flash 50k+ at them. Oh, you don't want it? Ok...

Once account is set up, you can wd whatever you please.

[Tywais]

I opened a new account at Krung Thai Bank just a few months ago with no such request. As said, try another branch, another bank.

BTW, if someone could supply a link to the 'new law/rule' it would be useful. As far as I know only the BOT can issue such.

[TallGuyJohninBKK]

The deal about banks asking for some kind of Thai "sponsor" or supporter has been around for awhile... I don't think it's any kind of real regulation, or at least, not one that's seriously enforced.

Typically, in my experience, it's something the banks will sometimes ask for when the applicant doesn't have other indicators that point to them being stable and longer term here.... like the correct kind of visa, or a work permit, or property ownership or a lease, etc.

The more common thing - although it too is not any kind of regulation -- is for the bank staff to claim they can't open a new account for a farang without a work permit.

The answer in both situations is to go to a different branch, where they most likely won't be concerned about those same policies.

[LburtonL]

My personal experience all branchs told me NO with my tourist visa and marriage certificate ....After with my Non-O I finally get one to say yes TMB so I could deposit my 400 000 for my future marriage extension but they didn't give me a bank card.... <deleted>

They said I will get it when i get my extension

It's seem when you're not in BKK-CM-Phuket-Pattaya or a town with a lot of Farang they don't give a them about you

Edited March 8, 2013 by LburtonL

[uptheos]

I went into Bangkok Bank with my son who had a tourist visa.

Introduced him and everything was completed 10 minutes later, Passbook & ATM card.

I have been with same branch for 20 years, but they weren't interested in me only the money.

Like everything else in Thailand, rules are flexible.

[Payboy]

That's what makes it a haven for foreign investment, I think.

[topt]

Are there any banks out here where you can open a foreign currency account without first deposit of 10,000 sterling , as I have been told ?

If you have a look at this thread here -http://www.thaivisa.com/forum/topic/623744-foreign-currency-deposit-account/ it is discussed and there are some links to Bangkok Banks conditions. When I opened one with SCB about 3 years ago it was $5k but it may have changed. I suggest you have look online at the different banks requirements although may take some digging.

[Sigurris]

It is not just every bank that has different rules but every cashier it seems. A couple of years ago my ex started working at the Yellow Bank Ayuthya. She had targets and wanted me and my friends to open an account. I already have an account with SCB but wanted to help her so I agreed. So I asked her to find out exactly what they needed. Armed with all the paperwork I went the next day. My ex stood behind the cashier and I put all the paperwork and 50K on the counter. The cashier said I had to have a work permit. I explained that the manager had said I didn't etc (I do have a work permit but didn't bring it as it was not required). We went back and forth a bit but in true Thai style she could not admit she was wrong. All the time my gf said nothing. I could see the manager but the cashier refused to get her. So I walked. My gf later told me the cashier had never dealt with a farang before and was scared (we spoke in Thai the whole time). I asked her why she said nothing and she responded by saying the cashier had been there longer than her. Guess which bank didn't get some new customers!

More recently I wanted a second account. I went to SCB in Jomtien where they made up some guff about new rules and basically told me farangs could not have bank accounts anymore! This is while I am sitting there holding a bank book in my name! So I went to SCB at Big C Pattaya Klang and 15 minutes later came out with a new bank account.

My motto here is, If one person says no, move to the next. Before long someone will say yes!

Edited March 8, 2013 by Sigurris

[h90]

When you open an account, flash 50k+ at them. Oh, you don't want it? Ok...

Once account is set up, you can wd whatever you please.

seems you haven't been in one of the lazier branches....how does it impress the guy/girl there? They don't get the money and you cause them only work....

Best is to open the bank account in a tourist area....Pattaya for example.... in Bangkok are branches that are very professional and others which don't know anything.

[TallGuyJohninBKK]

My motto here is, If one person says no, move to the next. Before long someone will say yes!

There are some basic rules, but the implementation varies quite widely from bank to bank and even branch to branch.

When it comes to farang banking in Thailand, what you'd said above pretty much sums up the situation.

BKK Bank has a website where they clearly outline what they require for different categories of applicants, and the different ways applicants can qualify.

Unfortunately, most of the other Thai banks aren't so straightforward in presenting that kind of info. Translate that as -- you'll rarely find any specifics of it anywhere on their websites.

But, generally speaking, Kasikorn branches also have the reputation of generally being more cooperative in opening new accounts for farang customers.

[LburtonL]

My personal experience all branchs told me NO with my tourist visa and marriage certificate ....After with my Non-O I finally get one to say yes TMB so I could deposit my 400 000 for my future marriage extension but they didn't give me a bank card.... <deleted>

They said I will get it when i get my extension

It's seem when you're not in BKK-CM-Phuket-Pattaya or a town with a lot of Farang they don't give a them about you

I forgot to say that the first time I was with my wife ,my certificate, my tourist visa and my 400 000$ cash and it was a big NO

[dominique355]

Indeed, not only every bank has its own rule, but every branch and every clerk has his/her own rules;

I have several bank accounts with Kasikorn Bank and one with Bangkok Bank. (I am a retired farang, no working permit).

Today I walked into the new branch of TMB on the 2nd. floor of Central World to open another account and was told, farangs cannot open a bank account there. My Thai wife then asked about her and was told that she needs to have a bank account in another bank first, before she can open an account at TMB. No kidding!

Needless to emphasize that we will not do business with TMB.

[h90]

My personal experience all branchs told me NO with my tourist visa and marriage certificate ....After with my Non-O I finally get one to say yes TMB so I could deposit my 400 000 for my future marriage extension but they didn't give me a bank card.... <deleted>

They said I will get it when i get my extension

It's seem when you're not in BKK-CM-Phuket-Pattaya or a town with a lot of Farang they don't give a them about you

I forgot to say that the first time I was with my wife ,my certificate, my tourist visa and my 400 000$ cash and it was a big NO

400.000 USD???

[TallGuyJohninBKK]

I think he means 400,000 baht, the required amount in the bank for a marriage-based extension of stay, despite his use of the $ sign.

[LburtonL]

I think he means 400,000 baht, the required amount in the bank for a marriage-based extension of stay, despite his use of the $ sign.

this

[lovelaos]

Rule rules rules. There are no rules. I have Kasikorn and Bkk bank accounts and I live in Laos. It depends on:

1. How you present yourself.

2. How much money you want to deposit

3. If the person you are asking can be ars-d to deal with you

As said before, try another branch until they say yes.

Edited March 9, 2013 by lovelaos

[finy]

I opened one with BKK Bank a few weeks ago using a passport and tourist visa.

Low deposit although I did put in a little more.

[kaffeburk]

I guess the answer about if im "long time" by TallGuyJohninBKK is closest. Yes, next time i will ware a suit and tell them i have just applied for a position at the local university. Last time i wanted one account i was told i needed both visa and my Swedish drivers licence...

[TallGuyJohninBKK]

Look at BKK Bank's criteria for opening new accounts, as a starting point.

But understand, those policies only apply to BKKB. Other banks will have their own policies. It's pretty much a place by place, case by case thing.

Generally, though, most banks here are always going to require a valid photo ID AND some form of visa showing permission to stay in the country, even if it's only a tourist visa (although some folks do open new accounts with only visa-exempt entry stamps). But that's only going to make things more difficult, generally speaking.

On the page, click the sub-tab for "Documents Required." And note that in addition to the photo ID, they ask for a letter of recommendation OR one of various other kinds of documents:

• Other documents showing your name such as:
  • Bank Statement, lease agreement, utility bill, documents showing owners of a fixed asset or Condominium Sale/Purchase Agreement

http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx

Edited March 9, 2013 by TallGuyJohninBKK

[lemoncake]

Truth is branch employees do not have a clue about most things.

I have just added an international account to my cyber banking to transfer money out of Thailand.

Page said to go into local branch and give them passport, wp and passbook.

Went into 1 branch, together with a printed form which is both in Thai and English, and no one had any clue or idea what i was on about.

They finally decided to call the Call center who told them what to do.

They still could not comprehend it, so went to another branch and received the exact same reception-no one had a clue.

Finally managed to get something done, handed over the papers and left.

Next day got a call from the branch asking for more papers, but could not understand what they wanted, so called the call center, who advised they do not need this papers.

Went back the branch and told them, it was incorrect and they did not need any additional papers, while they had no idea what they were doing and insisted i do need to give them extra as its the law and bank regulations

Moral of the story, as many have said, go to another branch, or even the same branch for to another person and you might get a different answer

[TallGuyJohninBKK]

The story above is pretty illustrative of farangs trying to do banking in Thailand.

I don't know if it's that Thai banks do a piss-poor job of training their staff (which certainly is possible), or it's that their staff only know how to do the most routine/every day repeated things, and anything out of the norm throws them for a loop. Probably an element of laziness too.

You might think such things would only occur out in the sticks... But no, these kinds of things get reported all the time right here in BKK where you'd hope/think the bank staff ought to be more accustomed to handling account activities with farangs. Sadly, too often, not to be.

[lemoncake]

The story above is pretty illustrative of farangs trying to do banking in Thailand.

I don't know if it's that Thai banks do a piss-poor job of training their staff (which certainly is possible), or it's that their staff only know how to do the most routine/every day repeated things, and anything out of the norm throws them for a loop. Probably an element of laziness too.

You might think such things would only occur out in the sticks... But no, these kinds of things get reported all the time right here in BKK where you'd hope/think the bank staff ought to be more accustomed to handling account activities with farangs. Sadly, too often, not to be.

I do not think its only foreigners who have trouble, Thai also do.

But many Thai will just listen and do as they are told without even thinking that it could be wrong information.

Lack of training? yes

Train ONLY to do the basics?yes

Laziness? yes

I believe its a combination of all 3 and more. I often wonder how Thai Banks make money when staff (at least in the branches) do not have much of a clue.

Even the loans officers, do not know how to calculate the interest and can ONLY do loans from the printed paper they have with amounts on it.

One thing that really puzzles me with my case, is that i had a form from the bank with the bank logo and information and yet no one had a clue. I had to suggest to call the call center as no one seemed to think of that and its in 2 branches not just one