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

[manarak]

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.

I hope such refusals get more common around the world, because it sends a clear signal that US bullying has gone too far.

Oh, it's only Americans that'll be much inconvenienced by it (if it pans out as the doomsayers have it, that is). It already gives the America-haters as well as the drama queens a little something juicy to drool over. I think JimGant's got this about right. The problem is that misinformation is very contagious in Thailand, and that applies as much to Thai businesses as it does to foreigners. I can easily see bank branch personnel "getting it wrong", overreacting to what THEY hear about these reporting requirements, and denying new accounts to Americans based on the misinformation. If so, it'll eventually blow over.

I worked in a Swiss bank when the reporting requirement came in, and it was a major hassle, also because revealing customer information without a court order is a criminal offense in Switzerland.

But the reporting itself was such a pain in the ass that a lot of the smaller accounts got closed, and only big accounts remained, while a lot of the even bigger accounts were transferred into other jurisdictions, in trusts holding "special purpose vehicles".

One of the funniest things is that a lot of money also went back to the USA, undetected by the IRS, because the state of Delaware offers good options to hide money. As long as this hole isn't closed, all the whining by the US about tax heavens is pure hypocrisy.

[kimbathewhitelion]

With just a Tourist Visa, I went to Udon Thani & opened an account in about 20-30 minutes. In Bangkok, everywhere they said NO, unless I had a work permit. The outside villages are much easier, just travel around...preferably the less foreigner invested areas. Also good to make an initial large deposit, ask for the "wire" (most just to make it seem you're a good spending customer) info up front...and you need to have a (doesn't matter where) local address (make it fitting). Thais prefer Americans over English by far, just need to go to the right place & once obtained, than can open anywhere at the same bank. But for a Retiree, once the visa is satisfied switch to Bangkok Bank & readjust transfers via ACH.

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[kimbathewhitelion]

Also as I absolutely hate to suggest, if all out fails, hire a rental to play the part as your girlfriend, claiming you live together but if you do, make sure without question, she doesn't get paid unless you get your account!

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[daboyz1]

I just had someone in Thailand deposit 500k THB in my Mother in law's Bangkok Bank account last week. I'm flying to Thailand Wednesday with my wife, entering on a 30 day stamp, and planning to open a Bangkok Bank account Friday at the Emporium branch with 10k THB. Then fly to Si Saket Saturday and transfer the 500k from her account to my account that day. I'm married to a Thai who is now a dual Thai/U.S. citizen. I had a Non-O way back in 2006, so doubt that will do me any good now.

This thread has me very concerned. I'll come back and post the results.

[daboyz1]

With just a Tourist Visa, I went to Udon Thani & opened an account in about 20-30 minutes. In Bangkok, everywhere they said NO, unless I had a work permit. The outside villages are much easier, just travel around...preferably the less foreigner invested areas. Also good to make an initial large deposit, ask for the "wire" (most just to make it seem you're a good spending customer) info up front...and you need to have a (doesn't matter where) local address (make it fitting). Thais prefer Americans over English by far, just need to go to the right place & once obtained, than can open anywhere at the same bank. But for a Retiree, once the visa is satisfied switch to Bangkok Bank & readjust transfers via ACH.

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Was that with Bangkok Bank?

[kimbathewhitelion]

Read the post. Bangkok Bank was the end result. Use the easier banks first...Kasikorn or the Blue bank. No worry in trying however with a Bangkok Bank from start as there is no communication/connection with any of them. Just try from the smaller villages/towns/cities.

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[kimbathewhitelion]

I had Thai gf with me when I opened mine, making it that much more easy. But also had a registered address. Later I found out, any verifiable address would work.

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[daboyz1]

I had Thai gf with me when I opened mine, making it that much more easy. But also had a registered address. Later I found out, any verifiable address would work.

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I'm thinking I'll take a swing at the Emporium branch, and if they shoot me down I'll try the branch in Si Saket. The only address I could use there is a Si Saket address anyway.

[kimbathewhitelion]

Go luck. When I moved to Bangkok & wanted to open a new account they denied it unless I had a work permit. That was SCB. Went to Kasikorn, they said the same until I showed them my passbook from my Udon Thani branch. They called, verified, then gave me a new account.

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[kimbathewhitelion]

Meant good luck.

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[daboyz1]

They should at least follow the policies they lay out on their website no matter which branch it is.

You hold a tourist visa or non-immigrant visa e.g. ED, EX, F, IB, IM, M, O, O-A, R, RS, D, F, SE, MT, S

(except non-immigrant L-A visa)

1. Valid passport, and
2. ONE of the following documents:
   1. • An identity card issued by a government institution or university such as:
        • Your driver’s license, Foreign Identification Card, University Student/Professor Card
      • A letter of recommendation from
        • Embassy [Download Form ], International Organization, Customer’s home bank to Bangkok Bank via the SWIFT message [Download Form ], a person acceptable to Bangkok Bank (such as BBL staff, customer, government officer, company executive, private firms), or home country institutions (such as pension receipt) [Download Form ]
      • 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

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

[kimbathewhitelion]

Didn't have to do any of that.

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[kimbathewhitelion]

Just the passport.

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[kimbathewhitelion]

Have 5% battery left.

Will be switching to Bangkok Bank based on member's adice. But to assure it will be taking a registered notarized document of Address back to my Us bank next week. This is just my Bank but been having many problems sending larger amounts recently. Can only think America is clamping down more on where "your money" goes.

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[pmarlin]

Been wanting to do this for awhile to take advantage of ACH transfers so I will be going to a local Bangkok Bank Branch today to open up an savings account. Will take with me exactly what they require to open a new account. This will be a first hand report when I am done and not all the second and third hand reports I have been reading here. By the way I don't see where the OP reported that the problem was with the new reporting laws in America, Even on the Bangkok Bank web site opening a account with a tourist visa has restrictions and maybe that was his problem. Will post the results when I come back from the bank.

[The Usual Suspect]

Strange.................. I'm American and I walked into a Kasikorn Bank branch in BKK and opened my first Thai account just like I was in the states. Not a single problem and the officer spoke relatively good English. I'm with Krungthai Bank now and I'm very satisfied with them. We're going through them for our house mortgage.

[daboyz1]

Strange.................. I'm American and I walked into a Kasikorn Bank branch in BKK and opened my first Thai account just like I was in the states. Not a single problem and the officer spoke relatively good English. I'm with Krungthai Bank now and I'm very satisfied with them. We're going through them for our house mortgage.

Can you do an ACH transfer in the U.S. to your accounts at Kasikorn or Krungthai?

[thailiketoo]

Go to the main office of Bangkok Bank in Bangkok or Pattaya or any other city as far as I know and you will have no trouble opening up an account. At least I didn't. I have 5 different accounts at different banks in Thailand the last one being Bangkok Bank a week ago.

If the OP does go to the main office and has a problem please let us know.

Sorry ,If it was as easy as you say then these issue's of being rejected and or being denied for opening a simple savings account wouldn't need to be addressed in this forum .

You will notice that none of the problems the people mention are at the main office of the Bank of Bangkok in any major city. There is a reason for that.

[Langsuan Man]

Does anyone think that just maybe the problem that the OP is having is because he has a visa on arrival which indicates to the banks that he is only here for a maximum of thirty days and as such does not need a Thai bank account

If I was a Thai bank worried about money laundering I sure wouldn't open up an account for a transient no matter how much they were going to deposit

[manarak]

Does anyone think that just maybe the problem that the OP is having is because he has a visa on arrival which indicates to the banks that he is only here for a maximum of thirty days and as such does not need a Thai bank account

If I was a Thai bank worried about money laundering I sure wouldn't open up an account for a transient no matter how much they were going to deposit

no... I opened an account on a 30 day visa exempt stamp

[belg]

you asked a thai person to help you ?

last resort, marriage, needs only 400k in the bank

the wife you get as extra

best make a prenup

[Pib]

Strange.................. I'm American and I walked into a Kasikorn Bank branch in BKK and opened my first Thai account just like I was in the states. Not a single problem and the officer spoke relatively good English. I'm with Krungthai Bank now and I'm very satisfied with them. We're going through them for our house mortgage.

Can you do an ACH transfer in the U.S. to your accounts at Kasikorn or Krungthai?

Nope, as far as I know only the Bangkok Bank New York branch has an ACH number which permits this low cost transfer service to in-Thailand Bangkok Bank branches for folks with U.S. bank accounts. Basically, a pricey wire/SWIFT transfer must be used for all other Thai banks.

[daboyz1]

Strange.................. I'm American and I walked into a Kasikorn Bank branch in BKK and opened my first Thai account just like I was in the states. Not a single problem and the officer spoke relatively good English. I'm with Krungthai Bank now and I'm very satisfied with them. We're going through them for our house mortgage.

Can you do an ACH transfer in the U.S. to your accounts at Kasikorn or Krungthai?

Nope, as far as I know only the Bangkok Bank New York branch has an ACH number which permits this low cost transfer service to in-Thailand Bangkok Bank branches for folks with U.S. bank accounts. Basically, a pricey wire/SWIFT transfer must be used for all other Thai banks.

That's what I thought. I don't want to pay the $35 per transfer.

[bangon04]

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.

I hope such refusals get more common around the world, because it sends a clear signal that US bullying has gone too far.

Oh, it's only Americans that'll be much inconvenienced by it (if it pans out as the doomsayers have it, that is). It already gives the America-haters as well as the drama queens a little something juicy to drool over. I think JimGant's got this about right. The problem is that misinformation is very contagious in Thailand, and that applies as much to Thai businesses as it does to foreigners. I can easily see bank branch personnel "getting it wrong", overreacting to what THEY hear about these reporting requirements, and denying new accounts to Americans based on the misinformation. If so, it'll eventually blow over.

Why wouldn't the British government slavishly follow the US lead in this matter like they do in so many other matters....? Then a lot more people in Thailand could be inconvenienced..

[MrWorldwide]

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".

Now that sounds like BS as Citibank is a US Corporation

I think of it more as a US-based franchise operation. My CITI account is run out of Oz, even if their call centre is in the PI.

[rak sa_ngop]

This compliance thing is going to affect a lot more people than just Americans.

Yesterday I talked to my Luxembourg bank and they informed me that I could not transfer money into my USD account without proof of origin i.e. pay-slips, house-sale receipt, inheritance documents.

They will not accept a contract note for the sale of USD units in a Hong Kong based Investment fund for investments I made between 1993 and 1998.

Who the **** keeps pays slips for over 20 years!!!

Grrrr!

[KhnomKhnom]

Like this site, this question has lots of guesses attached to it. The first part is to obtain an account.

Go the the largest Bangkok Bank you can get to and talk to a senior person who really speaks your language, English. Explain you want to open a savings account of at least 800000THB (opening deposit can be less) and refill it via the system whereby you have American money paid to you via the arrangement of sending the money to your number at the Bangkok Bank in NYC (not an account, just a 'pass through' number) which will immediately direct that money to the THAILAND Bangkok Bank account of yours. This system is described clearly on BB web site. You should be able to talk yourself into a savings account at the Thailand Bangkok Bank; if not, you may be one of the early victims of the item below. Dress in tie and be nice.

There is a new USA law called Foreign Account Tax Compliance Act(FATCA) which is going after ALL American-held bank accounts all over the world (above $10000). The FOREIGN bank must report to the usa IRS (note IRS) all such accounts. This is without respect to privacy or other such niceties. It also requires that of the foreign banks without compensating those banks for this service to IRS. This law will simply add to the cost of a bank having an American account holder, and add to that, there are American-based penalties to the banks for non compliance.

Imagine the arrogant gall of this law!

Obviously, it puts Americans wishing to use their Thailand bank account to comply with the Thailand laws on retirement visas in a bind, a Catch 22. One could reasonably conclude that banks holding smaller American accounts, like 800000 to a few million THB, would just close the accounts instead of trying to mess with compliance with this weird AMERICAN law. No one seems to know how this will shake out in reality, but I guess banks will resist American-held accounts as soon as they fully realize what is going on.

This is your Police State American govt at work for you and all of the world. I suggest America also make a law that Americans living anywhere in the world be caught and reported for driving over 55mph and those reports go the the new Foreign Highways Speeding Compliance Act records collection office. That office will expect foreign police to make such traffic stops and report, uncompensated, and with fines for noncompliance, Americans, then accumulating bad driving records can have their foreign automobile insurance suppliers to raise their rates under threat of penalties from the USA.

My thin hope is 1. that Thailand will give the finger to usa and skip the mess and 2. some USA congresspeople change this law. The law seems like another kind of drone strike in other sovereign nations. Seems Uncle Sam wants to keep his little American babies at home where he can drain them even more. My skimpy retirement will put me in a trailer park down by the railroad tracks if I must move back to usa.

[manarak]

This compliance thing is going to affect a lot more people than just Americans.

Yesterday I talked to my Luxembourg bank and they informed me that I could not transfer money into my USD account without proof of origin i.e. pay-slips, house-sale receipt, inheritance documents.

They will not accept a contract note for the sale of USD units in a Hong Kong based Investment fund for investments I made between 1993 and 1998.

Who the **** keeps pays slips for over 20 years!!!

Grrrr!

Welcome to the new world where you got to prove that your property is really yours...

All the countries bowing to the US bullying shoot themselves in the foot, the money will just wander off to Asia, because there is no chance Russians Chinese Thai or others here will agree to that nonsense.

[manarak]

My skimpy retirement will put me in a trailer park down by the railroad tracks if I must move back to usa.

That's where Uncle Sam needs you to be...

Google "velocity of money and taxation" to understand why giving out free money costs the government almost no money, hurts the middle class and makes the super rich even richer.

[pmarlin]

Been wanting to do this for awhile to take advantage of ACH transfers so I will be going to a local Bangkok Bank Branch today to open up an savings account. Will take with me exactly what they require to open a new account. This will be a first hand report when I am done and not all the second and third hand reports I have been reading here. By the way I don't see where the OP reported that the problem was with the new reporting laws in America, Even on the Bangkok Bank web site opening a account with a tourist visa has restrictions and maybe that was his problem. Will post the results when I come back from the bank.

Went to the Emporium branch Bangkok Bank and opened a savings account This morning. All I needed was my American passport and stateside drivers license. Filled out three forms, make sure you bring reading glasses, and was done in less than 30 minutes. It takes about a week to get internet banking. They send an e-mail and letter when ready. Also, they would only give me the ATM/Debit card with the chip. The first words out of their mouth was that I needed was a work permit I explained to them I was on a Non O visa with an retirement extension and showed it to them in my American passport it was not a problem from that point on All this is a fact. Waiting for oter Americans to post if they had any problems because I sure didn't.