Cannot open bank account

[admiraldy]

what if someone on a tourist visa wants to buy a condo in Bangkok and needs to transfer money to a local Thai bank ,? how he will be able to transfer the money if they dont accept to open an account on a tourist visa ?

[jcnbkk]

Not sure about any recent "crackdowns", but I have found different responses from branch to branch at same banks. It's been a couple of years ago but Kasikorn on Sukhumvit Soi 3 opened savings acc for me after another branch wouldn't. Bangkok Bank Sukhumvit Soi 8 opened one also. Bangkok Bank down Soi 11 is also friendly. In general I prefer BB overKB. Did this at the time on a 30 day visa waiver.

[ChoakMyDee]

what if someone on a tourist visa wants to buy a condo in Bangkok and needs to transfer money to a local Thai bank ,? how he will be able to transfer the money if they dont accept to open an account on a tourist visa ?

But you can open an account on a tourist visa. You just need a guarantor...a teacher, lawyer or government official can sign for you.

[NancyL]

The "rules" vary greatly from bank-to-bank and from branch-to-branch. Since this is the CM forum, the best bank branches I've worked with in CM are the Bangkok Bank Kad Suan Kaew mall branch and the SCB Sompet Branch in the Old City. From a practical standpoint, understand that BK is probably going to play by the US gov't rules because they want to continue to accept direct deposit of SSI and other US benefit payments. Other Thai banks may aren't approved for direct deposit of U.S. gov't benefit payments and may decide not to play ball with US gov't reporting requirements.

Since individuals branch mgrs have much leeway in accepting clients, customer profiling is definitely the norm. When Hubby and I walked into BK KSK in 2006 on 30 day tourist exempt status, fairly well dressed, telling a tale that we wanted to retire in Thailand and plopped $10,000 in cash on the counter -- they opened an account and brought us tea.

[Dante99]

Banking is getting more difficult.

A reputable financial news letter recently said this about USA Chase Bank "they advised their clients they wont be able to send international money wire transfers.

In addition, clients will be unable to withdraw than $50,000 of their own money per statement cycle, effective November 17."

"Other banks are expected to follow"

Yeh that is not Thailand but it does tell you something about what may be coming coming, more capital controls.

[elektrified]

Banking is getting more difficult.

A reputable financial news letter recently said this about USA Chase Bank "they advised their clients they wont be able to send international money wire transfers.

In addition, clients will be unable to withdraw than $50,000 of their own money per statement cycle, effective November 17."

"Other banks are expected to follow"

Yeh that is not Thailand but it does tell you something about what may be coming coming, more capital controls.

I just got off the phone with a friend in California this morning. He told me that he tried to transfer money to his kids in Bangkok through Chase Bank like he does every month, but that the money sat in his account for 3 days. He called to see what was happening and was informed "we can no longer make wire transfers to Thailand". Western Union may be his only option - with a huge commission.

[biplanebluey]

Obviously your 500bt for initial deposit wasn't enough for them

[Gonsalviz]

If you have a Thai citizen to vouch for you, it helps immensely.

[hawker9000]

Banking is getting more difficult.

A reputable financial news letter recently said this about USA Chase Bank "they advised their clients they wont be able to send international money wire transfers.

In addition, clients will be unable to withdraw than $50,000 of their own money per statement cycle, effective November 17."

"Other banks are expected to follow"

Yeh that is not Thailand but it does tell you something about what may be coming coming, more capital controls.

I just got off the phone with a friend in California this morning. He told me that he tried to transfer money to his kids in Bangkok through Chase Bank like he does every month, but that the money sat in his account for 3 days. He called to see what was happening and was informed "we can no longer make wire transfers to Thailand". Western Union may be his only option - with a huge commission.

I just completed a wire xfr using JP Morgan Chase as the intermediary bank (to Kasikorn). Absolutely no problems; no delay - the usual overnight service. Not being able to wire money internationally sounds pretty draconian - 'don't really see how that could be true. There has to be more to that...

[infernalman7]

Banking is getting more difficult.

A reputable financial news letter recently said this about USA Chase Bank "they advised their clients they wont be able to send international money wire transfers.

In addition, clients will be unable to withdraw than $50,000 of their own money per statement cycle, effective November 17."

"Other banks are expected to follow"

Yeh that is not Thailand but it does tell you something about what may be coming coming, more capital controls.

I just got off the phone with a friend in California this morning. He told me that he tried to transfer money to his kids in Bangkok through Chase Bank like he does every month, but that the money sat in his account for 3 days. He called to see what was happening and was informed "we can no longer make wire transfers to Thailand". Western Union may be his only option - with a huge commission.

I just completed a wire xfr using JP Morgan Chase as the intermediary bank (to Kasikorn). Absolutely no problems; no delay - the usual overnight service. Not being able to wire money internationally sounds pretty draconian - 'don't really see how that could be true. There has to be more to that...

Well, it's what you get now apparently for being a citizen of the "land of the free". But one needs to remember that only American citizens with a transaction of more than $50,000 are affected under FBARs.

[hawker9000]

Banking is getting more difficult.

A reputable financial news letter recently said this about USA Chase Bank "they advised their clients they wont be able to send international money wire transfers.

In addition, clients will be unable to withdraw than $50,000 of their own money per statement cycle, effective November 17."

"Other banks are expected to follow"

Yeh that is not Thailand but it does tell you something about what may be coming coming, more capital controls.

I just got off the phone with a friend in California this morning. He told me that he tried to transfer money to his kids in Bangkok through Chase Bank like he does every month, but that the money sat in his account for 3 days. He called to see what was happening and was informed "we can no longer make wire transfers to Thailand". Western Union may be his only option - with a huge commission.

I just completed a wire xfr using JP Morgan Chase as the intermediary bank (to Kasikorn). Absolutely no problems; no delay - the usual overnight service. Not being able to wire money internationally sounds pretty draconian - 'don't really see how that could be true. There has to be more to that...

Well, it's what you get now apparently for being a citizen of the "land of the free". But one needs to remember that only American citizens with a transaction of more than $50,000 are affected under FBARs.

Yeap. 'Traded in our freedom for a socialist nanny state - and jaw-dropping debt to go with it - years ago. Anyway, my transaction certainly wasn't in that range. Earlier posts above, per some newsletter, were suggesting more of a blanket suspension of wire transfers, by Chase at least, not just amounts above $50K.

[Bpuumike]

Had no problem at Bangkok Bank Emporium branch.

Always helps if you have a local 'friend', even if only temporary.

[khwaibah]

Had no problem at Bangkok Bank Emporium branch.

Always helps if you have a local 'friend', even if only temporary.