Opening a bank account, this just gets more bizarre.

[KittenKong]

There seems to hard core of newbie locals who keep trying to open accounts at mall branches. Thai's can quite easily do that but generally speaking, a foreigner will get fobbed off with any excuse because it is "too hard" for the staff to open an account for a foreigner.

On the contrary. Kbank in Central must be the easiest place in Pattaya for a farang to open an account. In fact I would say try branches in shopping centres first every time, or the various bank branches along/near Beach Road if you are in Jomtien. They just see so many more farangs there.

If that fails by all means try another branch or the main office.

[tropo]

There seems to hard core of newbie locals who keep trying to open accounts at mall branches. Thai's can quite easily do that but generally speaking, a foreigner will get fobbed off with any excuse because it is "too hard" for the staff to open an account for a foreigner.

As stated numerous times, walk into pretty much any bank main branch with passport, an alternative proof of identity such as a driving license, foreign-issued credit card and proof of where you live locally and they will usually open an account for you.

Never had a problem at many mall sub-branches, including the Bangkok Bank at Lotus North Road and Big C South Road, Bank Ayudha at Avenue Mall, and the Kasikorn at Big C Extra, so this is complete bunk. All I needed at all these mall branches was my passport.

How many Thai bank accounts do you need?

... or do you go around Pattaya testing out various banks and branches as a hobby?

[wooloomooloo]

I opened a Bangkok Bank account with a visa on arrival. No fuss and the staff were extremely helpful. I can keep an eye on my account from the UK with their online banking.

They didn't tout or mis-sell insurance to me.

If you're not successful in a particular branch try another or a different bank.

[KittenKong]

How many Thai bank accounts do you need?

I have accounts with five different banks here.

Why? Because the accounts they offer all have different T&Cs and interest rates.

So I have one bank for my day to day spending money/debit card/bill paying etc., and other banks for instant access deposits, and still more banks for TDs and step bonds. And I keep my eyes open for other banks paying better interest.

[NanLaew]

There seems to hard core of newbie locals who keep trying to open accounts at mall branches. Thai's can quite easily do that but generally speaking, a foreigner will get fobbed off with any excuse because it is "too hard" for the staff to open an account for a foreigner.

As stated numerous times, walk into pretty much any bank main branch with passport, an alternative proof of identity such as a driving license, foreign-issued credit card and proof of where you live locally and they will usually open an account for you.

Never had a problem at many mall sub-branches, including the Bangkok Bank at Lotus North Road and Big C South Road, Bank Ayudha at Avenue Mall, and the Kasikorn at Big C Extra, so this is complete bunk. All I needed at all these mall branches was my passport.

Complete bunk?

Don't preach to me while you conveniently overlook my comment that GENERALLY SPEAKING farangs will have less success opening an account at a mall branch versus a main branch. The OP and numerous other contributors to this thread have all commented on the difficulties encountered.

So you managed three times. Maybe you should consider assisting those less blessed instead of saying how bloody wonderful you are.

[giddyup]

There seems to hard core of newbie locals who keep trying to open accounts at mall branches. Thai's can quite easily do that but generally speaking, a foreigner will get fobbed off with any excuse because it is "too hard" for the staff to open an account for a foreigner.

As stated numerous times, walk into pretty much any bank main branch with passport, an alternative proof of identity such as a driving license, foreign-issued credit card and proof of where you live locally and they will usually open an account for you.

Never had a problem at many mall sub-branches, including the Bangkok Bank at Lotus North Road and Big C South Road, Bank Ayudha at Avenue Mall, and the Kasikorn at Big C Extra, so this is complete bunk. All I needed at all these mall branches was my passport.

Complete bunk?

Don't preach to me while you conveniently overlook my comment that GENERALLY SPEAKING farangs will have less success opening an account at a mall branch versus a main branch. The OP and numerous other contributors to this thread have all commented on the difficulties encountered.

So you managed three times. Maybe you should consider assisting those less blessed instead of saying how bloody wonderful you are.

Obviously there are problems for a farang opening an account otherwise I wouldn't have started this thread in the first place. Don't you hate know-it-alls?

[Rimmer]

Who wants a posting holiday? Just keep up the personal attacks and bickering and your wish shall be granted

[tropo]

How many Thai bank accounts do you need?

I have accounts with five different banks here.

Why? Because the accounts they offer all have different T&Cs and interest rates.

So I have one bank for my day to day spending money/debit card/bill paying etc., and other banks for instant access deposits, and still more banks for TDs and step bonds. And I keep my eyes open for other banks paying better interest.

OK, so you have a lot of money invested in Thailand. Fair enough. I understand that. Silly not taking into consideration rich foreigners.

I never have more than about 100K here and only need one bank for day to day spending. Kasikorn does a good job.

[KittenKong]

OK, so you have a lot of money invested in Thailand. Fair enough. I understand that. Silly not taking into consideration rich foreigners.

I never have more than about 100K here and only need one bank for day to day spending. Kasikorn does a good job.

I dont think that I have "a lot" of money invested in Thailand. If I only had 100K on hand here I would be a little bit concerned in case I fell ill and had some big bills to pay.

What I do have I prefer to place where it earns me the best return, and you cant get that from one instant access account.

[OMGImInPattaya]

There seems to hard core of newbie locals who keep trying to open accounts at mall branches. Thai's can quite easily do that but generally speaking, a foreigner will get fobbed off with any excuse because it is "too hard" for the staff to open an account for a foreigner.

As stated numerous times, walk into pretty much any bank main branch with passport, an alternative proof of identity such as a driving license, foreign-issued credit card and proof of where you live locally and they will usually open an account for you.

Never had a problem at many mall sub-branches, including the Bangkok Bank at Lotus North Road and Big C South Road, Bank Ayudha at Avenue Mall, and the Kasikorn at Big C Extra, so this is complete bunk. All I needed at all these mall branches was my passport.

Complete bunk?

Don't preach to me while you conveniently overlook my comment that GENERALLY SPEAKING farangs will have less success opening an account at a mall branch versus a main branch. The OP and numerous other contributors to this thread have all commented on the difficulties encountered.

So you managed three times. Maybe you should consider assisting those less blessed instead of saying how bloody wonderful you are.

That would be four times but who's counting...and that's not including my main branch accounts, which number an additional two. And I thought I did...just show up with your passport and presto new account.

[OMGImInPattaya]

So back to the op...his friend's experience is unusual but not unheard of in Thailand. Many of the youngish front line staff at Thai banks seem to be recent college graduates and often have very limited knowledge if their own bank's savings and investment products. You couple that with the commissions for certain, usually insurance products, and one can often be ill-served at some branches. At other branches and sub-branches (the ones in malls) you can find staff conversant in English and eager to serve. It really is a toss-up.

If you have trouble at the front line, politely ask for a manager. They will be more versed on the bank's policies re accounts for foreigners. In general, for a basic savings account, with an ATM/debit card, all that's required is a passport with a valid non-immigrant visa (some may accept a tourist visa... Some did in the past but I don't know now). For checking and credit card accounts, more documentation and security funds will likely be required.

For the record, I have savings accounts with all the major Thai private banks and opened all of them by only showing my passport.

[tropo]

OK, so you have a lot of money invested in Thailand. Fair enough. I understand that. Silly not taking into consideration rich foreigners.

I never have more than about 100K here and only need one bank for day to day spending. Kasikorn does a good job.

I dont think that I have "a lot" of money invested in Thailand. If I only had 100K on hand here I would be a little bit concerned in case I fell ill and had some big bills to pay.

What I do have I prefer to place where it earns me the best return, and you cant get that from one instant access account.

I have several foreign credit cards in the case of emergency so I don't stress aboout that.

How much interest are you getting here, because from what I see the rates are so low you'd need megabucks to be making anything worth counting?

The problem I have with the Kasikorn Bank is they won't allow me to send money out of Thailand unless I have a work permit. I found that out when I tried to organise an offshore transfer on Internet banking. They required quite a bit of paperwork.

[KittenKong]

How much interest are you getting here, because from what I see the rates are so low you'd need megabucks to be making anything worth counting?

The problem I have with the Kasikorn Bank is they won't allow me to send money out of Thailand unless I have a work permit.

I currently get up to 3.6% (tax-free) here on TDs. Instant access about 1% less. But all the accounts have conditions that need respecting. The instant access account is only two withdrawals per month, so I also have an account for daily use and paying utility bills etc. TDs are handy as in case of emergencies you can always withdraw with loss of interest. Never needed to do it, but who knows?

You can use your Thai debit card to withdraw cash abroad (and for shopping) and transfers out shouldn't be a problem for amounts below perhaps USD20,000 (maybe more) or if you have an FEC form to show the source of the funds. I have FEC forms for all the transfers in I have made. Because I only transfer fairly large sums at a time, rather than a bit here and bit there, that only represents a handful of forms even over quite a long time.

[tropo]

How much interest are you getting here, because from what I see the rates are so low you'd need megabucks to be making anything worth counting?

The problem I have with the Kasikorn Bank is they won't allow me to send money out of Thailand unless I have a work permit.

I currently get up to 3.6% (tax-free) here on TDs. Instant access about 1% less. But all the accounts have conditions that need respecting. The instant access account is only two withdrawals per month, so I also have an account for daily use and paying utility bills etc. TDs are handy as in case of emergencies you can always withdraw with loss of interest. Never needed to do it, but who knows?

You can use your Thai debit card to withdraw cash abroad (and for shopping) and transfers out shouldn't be a problem for amounts below perhaps USD20,000 (maybe more) or if you have an FEC form to show the source of the funds. I have FEC forms for all the transfers in I have made. Because I only transfer fairly large sums at a time, rather than a bit here and bit there, that only represents a handful of forms even over quite a long time.

That's not too bad. I'm doing that (around 4%) on Australian accounts, but I don't bother keeping much cash here in Thailand.... but yes, I now understand why you're shopping around the different banks - that's exactly what I do in Australia.

Cheers

BTW, what exactly is an FEC form?

Edited January 31, 2014 by tropo

[KittenKong]

Currently in the UK you would be lucky to get 2% without tying it up for 3 or 5 years. I still have some UK TDs paying just under 5% but as you cant get those any more the 3.6% here is quite attractive. Certainly good enough for my retirement extension deposit and a year or two's spending money anyway.

The FEC is the form the bank gives you when you receive an incoming transfer. Foreign Exchange Certificate, I think. It shows the date, the currency amount, the exchange rate, your name etc. You need it if you want to buy a farang name condo, or for exporting sums that exceed whatever limit is currently in force.

[balo]

I am planning to open an account with high interest when I sell my condo . So which Thai bank will give me up to 4% ?

[KittenKong]

You wont get 4% but see the pinned bank interest thread in the jobs/banking section here.

[WBS2555]

OK, so you have a lot of money invested in Thailand. Fair enough. I understand that. Silly not taking into consideration rich foreigners.

I never have more than about 100K here and only need one bank for day to day spending. Kasikorn does a good job.

I dont think that I have "a lot" of money invested in Thailand. If I only had 100K on hand here I would be a little bit concerned in case I fell ill and had some big bills to pay.

What I do have I prefer to place where it earns me the best return, and you cant get that from one instant access account.

I have several foreign credit cards in the case of emergency so I don't stress aboout that.

How much interest are you getting here, because from what I see the rates are so low you'd need megabucks to be making anything worth counting?

The problem I have with the Kasikorn Bank is they won't allow me to send money out of Thailand unless I have a work permit. I found that out when I tried to organise an offshore transfer on Internet banking. They required quite a bit of paperwork.

Transfer funds out of Thailand are eligible to the foreigners at the bank branches. The bank will ask you to submit the documents shown the "source of funds", if the funds remit more than US$49,999 or its equivalent. If less than that, you can only specify the source of funds other the bank.

If you are working and earning an income in Thailand and can provide the bank with your employment pass or work permit or employ letter, you can apply for an International Funds Transferred via the internet banking service at Bangkok bank.

http://www.bangkokbank.com/OnlineBanking/PersonalBanking/iBanking/BualuangiBanking/services/pages/ift.aspx

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[WBS2555]

The foreigners can open a resident Thai Baht account or a Non-Resident Foreign Currency account to receive the money transfers from overseas without having a work-permit at the Bangkok Bank anywhere in Thailand. I mainly go to the bank branches where they are more familiar to the foreigners.

You need to bring along your passport with validity visa-stamp entry Thailand + the another official documents from your country such as your ID Card or Driving License.

You need to be able to provide the bank with your address in Thailand. It can be your rental property or your friend address in Thailand. The bank do not accept the hotel addresses or P.O.Box.

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

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[OMGImInPattaya]

The foreigners can open a resident Thai Baht account or a Non-Resident Foreign Currency account to receive the money transfers from overseas without having a work-permit at the Bangkok Bank anywhere in Thailand. I mainly go to the bank branches where they are more familiar to the foreigners.

You need to bring along your passport with validity visa-stamp entry Thailand + the another official documents from your country such as your ID Card or Driving License.

You need to be able to provide the bank with your address in Thailand. It can be your rental property or your friend address in Thailand. The bank do not accept the hotel addresses or P.O.Box.

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

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Maybe...but one can just open that baht account and SWIFT wire transfer funds into the account (can be done online, phone, or fax).

Foreign currency accounts come with high fees...1% commission on funds transferred in and 2% fee on amount when taking funds out are not unusual.

[WBS2555]

The foreigners can open a resident Thai Baht account or a Non-Resident Foreign Currency account to receive the money transfers from overseas without having a work-permit at the Bangkok Bank anywhere in Thailand. I mainly go to the bank branches where they are more familiar to the foreigners.

You need to bring along your passport with validity visa-stamp entry Thailand + the another official documents from your country such as your ID Card or Driving License.

You need to be able to provide the bank with your address in Thailand. It can be your rental property or your friend address in Thailand. The bank do not accept the hotel addresses or P.O.Box.

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

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Maybe...but one can just open that baht account and SWIFT wire transfer funds into the account (can be done online, phone, or fax).

Foreign currency accounts come with high fees...1% commission on funds transferred in and 2% fee on amount when taking funds out are not unusual.

There is an withdrawal and deposit commission in lieu of 1% for USD banknotes. The bank do not charges exchange fees when withdrawn by converting to Thai Baht.

If you are a Bangkok bank internet banking existing user, you can enroll adding your FCD-USD into the Bangkok bank internet banking. Then transfers from USD to a Thai baht account from ATM card link into the account using the best rate - buying TT without exchange fees.

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[IrishBosco]

OK, so this thread is about opening a bank account, here is my experience from today.

Firstly I will point out that I did not want a Thai national to be guarantor on my account. This is important as it totally change the playing field. Secondly I have no Thai paperwork in my passport in terms of visas although I do have many many entry stamps in my passport (not that this is relevant). For today's bank account opening I had no visa but an entry stamp on a fresh page from last night. I dressed to impress, trousers, shirt and shiny shoes. In my possession I had only passport, Irish driving licence, Thai phone number and a somewhat loose Thai address on a piece of paper.

Kaisikorn: This was my preferred option. I went to the sub branch on Soi 11 and was told quickly that head office only allow them to open accounts for foreigners holding a work permit, not even a student visa would appease them. I also tried the more main branch on Sukhumvit around Soi 15. The girl on the ticket machine there tried hard to block my entry as I had no work permit. I asked to be allowed to upstairs anyway. The rep I spoke to there had excellent English but would not open the account on the grounds that instead of a work permit I needed proof of a rental agreement or lease in Thailand. On the way out the manager was standing outside his office. I asked him for two minutes and he agreed. I explained that I really wanted a K account and that the company I worked for abroad banked with the. He was decent but held the line about the proof of address.

SCB Bank: Branch on Soi 11.No work permit, goodbye.

Bangkok Bank: As per their website, on the basis of having the second ID in the form of a driving licence, the branch on Soi 11 opened a savings account for me!!! It comes with a Be1st visa debit card immediately and a pass book. It also takes in transfers from abroad up to any value.

However there are two major drawbacks to this account. As they registered me as a ‘Tourist’ on their system they do not allow me to have internet banking on this account. I was quite shocked by this but vowed to sort it out later. They also limit withdrawals to 50,000THB per day whether by ATM, purchases or in branch. I phoned their call centre later who confirmed that there was no possibility of getting internet banking unless I visited a branch once I had a visa of more than 3 months in length.

Other banks: I visited a number of other sub branches of different banks and one main bank (think it was TMB) on the travels but got negative responses all around.

All in all quite a failure. At least an account of sorts is possible but without the internet banking it is, for me at least, essentially useless as I will never use it.

[KittenKong]

Firstly I will point out that I did not want a Thai national to be guarantor on my account. This is important as it totally change the playing field.

You never need a guarantor for a savings account. What would be the point?

Kaisikorn: This was my preferred option. I went to the sub branch on Soi 11 and was told quickly that head office only allow them to open accounts for foreigners holding a work permit, not even a student visa would appease them. I also tried the more main branch on Sukhumvit around Soi 15.

What's with these out-of-the-way branches? Just go to a branch that farangs actually use, like the one in Central Festival. Better opening hours too.

[tropo]

Firstly I will point out that I did not want a Thai national to be guarantor on my account. This is important as it totally change the playing field.

You never need a guarantor for a savings account. What would be the point?

Kaisikorn: This was my preferred option. I went to the sub branch on Soi 11 and was told quickly that head office only allow them to open accounts for foreigners holding a work permit, not even a student visa would appease them. I also tried the more main branch on Sukhumvit around Soi 15.

What's with these out-of-the-way branches? Just go to a branch that farangs actually use, like the one in Central Festival. Better opening hours too.

K-Bank Soi 5 Jomtien Beach Road. They probably open more accounts for foreigners than any other in town.

[KittenKong]

What's with these out-of-the-way branches? Just go to a branch that farangs actually use, like the one in Central Festival. Better opening hours too.

K-Bank Soi 5 Jomtien Beach Road. They probably open more accounts for foreigners than any other in town.

That one should do also. As far as I know it's the one that Immigration recommend. Perhaps a bit far for people who live in Pattaya though.

[tropo]

What's with these out-of-the-way branches? Just go to a branch that farangs actually use, like the one in Central Festival. Better opening hours too.

K-Bank Soi 5 Jomtien Beach Road. They probably open more accounts for foreigners than any other in town.

That one should do also. As far as I know it's the one that Immigration recommend. Perhaps a bit far for people who live in Pattaya though.

LOL. I don't know if you're serious about that last comment or not. Once a bank account has been opened and internet banking is set up there's hardly any reason to return to home branch. I've hardly been into the bank there in the 4 years I've had the account. The only reason I had to return once was to lodge a change of phone number form.

Yes, the immigration office do recommend that branch.

Edited February 28, 2014 by tropo

[thepool]

i do not understand the problem.

I opened a B/A with the Bangkok bank many years ago with a tourist visa!

Over the years BB has provided me with a very good service which now includes internet banking and a means of moving money from the UK to Thailand economically and within 24 hours.

[kimbathewhitelion]

This post is way old & unnecessary. Opening a bank account here using whatever visa was the easiest thing & best as far as money safety goes in Thailand. Kasikorn, that light blue bank, SCB or Bangkok bank anywhere, but better with stand-alone branches. But do acknowledge that the OP's friend had lots of bad luck, however last months recommendation of not using a Tesco branch was very sound. Though very annoying with Thailand is that each branch is separate from the other. My main branch is in Udon, I live in BK & have to pay fees for using their ATMs here. Only way to remove that would be to close the Udon account and open a new account at the same bank in BK. But that is Thailand.

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[KittenKong]

Perhaps a bit far for people who live in Pattaya though.

LOL. I don't know if you're serious about that last comment or not. Once a bank account has been opened and internet banking is set up there's hardly any reason to return to home branch. I've hardly been into the bank there in the 4 years I've had the account.

I was serious. Jomtien is a fair way to go if you live in Pattaya, especially if you have no other reason to go there.

Whilst I dont need to go to my bank for day to day use I do still go there at least once a year to get my immigration letter, and once more to get my tax refund letter, and anyone buying a condo would need to go there to get their FET form, or possibly to accept incoming transfers for other use. None of that can be done online (at least not with any of my banks).

I find the branches in Central to be very convenient because not only do they see lots of farangs but also the hours are good, the parking is good and there are lots of places to eat nearby when one does actually need to go there. I also have various accounts with branches of three other banks that are all within 5 minutes walk of where I live in Jomtien, but there again the convenience of access is important to me even if I only go there a few times a year. Thankfully those branches are all ones that are used to dealing with farangs and so are easy to open accounts in.

[KittenKong]

i do not understand the problem.

I opened a B/A with the Bangkok bank many years ago with a tourist visa!

Many years ago you could walk into a Thai bank with very large amounts of cash, little or no ID and walk out with an account just a few minutes later. Since then the world has woken up to money-laundering and these days it isn't quite so easy. Some branches that dont see many farangs find it easier just to say "no" than to try and open the account and deal with the large and unpredictable white-faced man on the other side of the counter.