American-No Bank Account, No Visa Catch 22. Help please.

[rastlin]

I am an American citizen and I want to get a retirement Visa.

Here is my problem. I can't get a bank account. Last week I went to K-Bank as I was told that is the best bank and I was turned down as soon as they saw my passport. I went to some other branches and was told no. I went to Bangkok bank and was told they don't take Americans and I stopped at a couple other banks while walking around and told no Americans.

I need to have 800,000 baht in a bank account but I can't get a bank account!

My plan was to open the account, have a nice little holiday, go back home and wire in the money as you need to have the money in for a few months before the Visa. But I can't find a bank that will take me as a customer.

I'm old enough for the Visa but too young and don't have a pension.

I've been ripping my hair out with the catch 22 of you can't get a Visa without a bank account but you can't get a bank account! I just don't know what to do and am afraid I will go back home with no bank account and then I don't know how I will get my Visa when I come back next time.

Any help or suggestions GREATLY appreciated.

[Thanyaburi Mac]

Have you tried one or more branches of Siam Commercial Bank? I've found them to be quite good.

Where are you located?

Mac

[Mario2008]

You just ry another bank or even a different branch of the same bank. Best is to try banks in an area with a lot of foreigners. Eventually you will succeed.

[notmyself]

Yep, just keep trying various branches and you WILL eventually get one.

[thepool]

This is one of the benefits of being American ! Many Banks around the world do not want to be involved with the complex "notification" processes now demanded by the US !

Having said that if you continue your attempts approaching many banks/branches you will succeed.

As a fall back a affidavit sworn at the USA Embassy to the effect that a minimum of 65,000/month income is received should be enough to satisfy the immigration officers in respect of the "retirement" extension.

Best luck !

[thrilled]

Supposely banks in Thailand and in other countries,are turning down Americans ,and also Supposely going to close U.S. citizen bank accounts.Because of that new U.S. Law taking effect.I'm not sure how it's going to play out.

As far as opening an account,just keep on trying.I had A thai go with me.You might want to do the same.

[Torrens54]

Never had a problem with Siam Commercial or BKK Bank. But then, I'm Australian and everyone loves us....sometimes.

Just for the heck of it though, why don't you try your luck at the Islamic Bank, they might welcome you with open arms, just to prove they are in fact, "nice folks."

Best of luck.

Edited April 6, 2014 by Torrens54

[DogNo1]

The branch of SCB on the second floor of Central Chidlom opened an account for me without question. You might try there. Bangkok Bank is at the front of the store at the third floor entrance from the skytrain platform. SCB is on the SECOND floor at the back of the passageway that leads to the food market past all of the beauty shops. Good luck!

[moe666]

Could get a O-A visa in the multiple entry is good for 2 years and no Thai Bank account

[sirineou]

How about Bangkok Bank? they have a branch in New York

29 Broadway, New York, NY ‎

(212) 422-8200 ‎

I dont see how they would let you open an account in NYC but not honor that account in Thailand

[Jingthing]

OP, this is first report here of Thai banks refusing to open accounts based on American nationality. Very troubling! Not only to people like the OP but Americans here with existing accounts. Yes, this is the year 2014 where this starts to really hit the fan. I still don't know where it is going and how many Americans are going to be shaken out of Thailand because of it (and many other countries as well). To the OP, I hope you got bad info from these banks and it is still possible for you to get an account here somewhere. Please keep trying.

To the people who have said there isn't going to be any impact from these weird new American laws, I guess it would be crass to say I told you so. Wish this is going to be nothing, but trust me, this isn't nothing. It's starting.

Edited April 6, 2014 by Jingthing

[Jingthing]

How about Bangkok Bank? they have a branch in New York

29 Broadway, New York, NY ‎

(212) 422-8200 ‎

I dont see how they would let you open an account in NYC but not honor that account in Thailand

BB NYC is a COMMERCIAL business bank.

It's not a normal bank for schlubs off the street, American or otherwise.

Many of us use the ACH transfer scheme from our U.S. bank to BB NYC but I've not heard one person say they actually have a separate account in NY. The funds flow to our Thailand BB accounts.

OP, I would suggest you might mention the CITY you're at in Thailand. Maybe someone can give you more specific advice with that info. Don't give up yet!

Another question ... do you already have an O visa in your passport?

Edited April 6, 2014 by Jingthing

[thepool]

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How about Bangkok Bank? they have a branch in New York

29 Broadway, New York, NY ‎

(212) 422-8200 ‎

I dont see how they would let you open an account in NYC but not honor that account in Thailand

Not possible to open a Bangkok Bank account in NYC !

Please try to get the facts right !

[Jingthing]

Could get a O-A visa in the multiple entry is good for 2 years and no Thai Bank account

He could do that back in the U.S.S.A. and then he would have a few years for this to shake out (or in) as far as his ability to ever open an account (which he'll need eventually for bank based future retirement extensions).

[fatdrunkandstupid]

Supposely banks in Thailand and in other countries,are turning down Americans ,and also Supposely going to close U.S. citizen bank accounts.Because of that new U.S. Law taking effect.I'm not sure how it's going to play out.

As far as opening an account,just keep on trying.I had A thai go with me.You might want to do the same.

Not supposedly...

Last year I opened an account with Citibank Singapore.

The VERY first question on the application asked if I was an American. If I ticked the yes box the form then led me to a paragraph that read along the lines of "Sorry no accounts for Americans because your government is trying to tell us how to run OUR banking system".

[NancyL]

I find it hard to believe that Bangkok Bank will turn down an American who wants to deposit 800,000 baht for a retirement visa. They have no problem accepting direct deposit of American's monthly Social Security checks. Surely there is something missing in the story. Perhaps the OP should share a few more details, like the location of the branch bank, if the staff really understood why he wanted to open the account, how much he brought in for an initial deposit (I doubt they'd turn away $10,000 US cash for an opening deposit) and whether he was talking with the branch manager or a lower-level employee.

[Jingthing]

I agree, NancyL. There is no reason to stop trying yet for the OP or any American. But whatever happened, if he got pushed back because of the excuse AMERICAN, whatever the details, however low the staff, this is still a warning sign of things to come.

We can use this forum here to communicate about developments on this and related American-Thailand banking issues because this is going to be an ongoing story for quite some time.

Edited April 6, 2014 by Jingthing

[Colabamumbai]

The money does not have to be in a Thai Bank. My embassy Canadian sees a deposit of 65,000 Baht going into a Canadian Bank issues the affidavit and I get the Non O visa for retirement. What is the problem? As an American your Embassy does not even ask to see proof of funds going into your American bank, you just swear that you have it, although immigration may want to see a copy of the funds having been deposited in your American bank.

[Jingthing]

If he's using a bank account method to get a retirement extension in Thailand (800K or combo method) then yes he will NEED a Thai bank account. You're assuming he has 65K income. Don't assume that. Also, please don't suggest that people lie to the U.S. embassy and Thai immigration about fake income either! That is not a solution.

Even without the need for a Thai bank account for immigration, it would not be convenient to live full time in Thailand without a Thai bank account. I have multiple ones which right now seems to be better than having just one.

Edited April 6, 2014 by Jingthing

[Jingthing]

I am well on board with the acceptance this is a problem for Americans in many countries.

But right now it is way too early to know exactly what's going to happen in Thailand, for both new and existing accounts.

[thepool]

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I am well on board with the acceptance this is a problem for Americans in many countries.

But right now it is way too early to know exactly what's going to happen in Thailand, for both new and existing accounts.

You are , of course right to urge caution.

But make no mistake Banks will reject the costs of complying with US legislation.

If that will affect existing account holders is a matter of speculation.

But , for sure, the banks will not wish to increase their costs by accepting new Yank accounts !

[Prbkk]

I can appreciate that banks are concerned about the costs of compliance but it makes no sense to be forgoing good clients prepared to deposit the equivalent of 30,000USD on a semi-permanent basis. Surely one of the more international K Bank branches would accommodate?

[Mrjlh]

Bangkok Bank's main office on Silom Rd in Bangkok will open an account for you if none of the others will. But you might need a Thai to be with you to counter sign. Maybe not. This is true for any other locations of Bangkok Bank. Not knowing where you are doesn't help us here to solve your problem. Yes. it is easier and cheaper in Thailand to get a Non O Visa but why not just do it from the States? Cost more and more hassle's but you don't need to leave money in a Thai bank not earning anything for 3 months.

Try opening a small account first. The use BB in New York routing number to deposit your money later. Just a thought.

[sirineou]

$ 30,000 usd is not peanuts and I dont believe many banks would sneeze at any such deposit.

All such reports are so far anecdotal.

I hope it is true because I would be the first to start a bank that accepts American deposits and corner the market.

Any competent programmer can write a subroutine to their accounting system that could generate an automatic report on American deposits to the appropriate US agency.

Edited April 6, 2014 by sirineou

[Lefty]

I am well on board with the acceptance this is a problem for Americans in many countries.

But right now it is way too early to know exactly what's going to happen in Thailand, for both new and existing accounts.

I will be trying to open a Bangkok Bank savings account today/tomorrow, am American living in Korat.Will let you know the results.

LEFTY

[slipperylobster]

Last I knew, Thai immigration only required a certification from the US Embassy that your income is about a certain amount. Mine, fortunately is, and I was not required to have a Thai bank account. During the last week of April, I will be able to post the latest info, as I will be asking for that document again from American Services, and reapplying. I see no benefit in locking up 800,00 baht in a bank here. You never will know the future, especially with the political situation and money owed to rice farmers. Best to be flexible. Thailand, although fine for me at present, The only problem with not having a bank account here is trying to buy a car with a low down payment.. There appears to be some flexibility on that if you make some arrangements with the dealer. I am working on something of that sort...leasing it from somebody who will be guaranteeing the loan. I am not married, so no sense in putting money in the bank here and using a wife to purchase.

[Jingthing]

That's nice.

Not an option for those who don't have an income of 65K baht per month though.

In which case you need a Thai bank account (800K or combo method).

Then there are expats who work here. Who own businesses here. How does that work with no local bank account?

Edited April 6, 2014 by Jingthing

[ubonjoe]

I have removed several off topic and bickering posts. Topic is not about FBAR. No need to to discuss it more. Everybody is aware of the problem and there are several topics on the business forum.

[ubonjoe]

I suggest trying Bangkok Bangkok bank. Tell them you need the account so you can transfer funds via the New Your branch.

Info for account opening here, http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx

[Langsuan Man]

Until the OP tell us where he is located , as was asked but not answered in post #2, we are spinning our wheels trying to help him

We all should know by now that where you try and open a bank account is the key to getting one opened. Easy in Pattaya or Bangkok, not so in Issan

So, OP, once again where in Thailand are you located. Give us that morsel of information and maybe someone who is located in the same place can help you with real world experience

EDIT: It would also be helpful to know if you are on a Tourist Visa, Visa on Arrival, or Visa Exempt, maybe your visitor status is the problem, not the nationality of your passport

Edited April 7, 2014 by Langsuan Man