Opening an account on a tourist visa

[intel4004]

I realise this has probably been done to death but from reading posts on here it seemed the requirements for opening such an account were recently becoming more onerous.

Will be arriving Chiang Mai at the beginning of June for 5 months so having an account with a local bank would be ideal. Some people on here say they managed to open an account whilst others get turned down. I'd be looking to open an account which provides a debit card with an initial deposit of 90,000 Baht.

How much of a struggle am I likely to have trying to do this do you think? What kind of evidences would I need to have apart from passport (UK driving license ??).

Cheers

[eyecatcher]

Less onerous you mean.

Yes anyone can open account, tourist visa no problem.

All you need is your passport and an address.

The address can be hotel guesthouse, restaurant, they don't care.

I think when I opened an account it was a guest house, then became a restaurant, not even been there for 4 yrs.

And you need 200/300bt to but the atm debit card.....oh and they will ask how much you want to put in your new account....so 500bt is sufficient

Jobsa guden!

[shepsel]

Each bank has it's own policy on opening an account on a tourist visa. If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

[intel4004]

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Each bank has it's own policy on opening an account on a tourist visa. If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

Less onerous you mean.
Yes anyone can open account, tourist visa no problem.

All you need is your passport and an address.
The address can be hotel guesthouse, restaurant, they don't care.
I think when I opened an account it was a guest house, then became a restaurant, not even been there for 4 yrs.

And you need 200/300bt to but the atm debit card.....oh and they will ask how much you want to put in your new account....so 500bt is sufficient

Jobsa guden!

Thanks folks, that sounds pretty straightforward for some reason thought there would be more hurdles

[Oscar2]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Each bank has it's own policy on opening an account on a tourist visa. If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

Less onerous you mean.

Yes anyone can open account, tourist visa no problem.

All you need is your passport and an address.

The address can be hotel guesthouse, restaurant, they don't care.

I think when I opened an account it was a guest house, then became a restaurant, not even been there for 4 yrs.

And you need 200/300bt to but the atm debit card.....oh and they will ask how much you want to put in your new account....so 500bt is sufficient

Jobsa guden!

Thanks folks, that sounds pretty straightforward for some reason thought there would be more hurdles

well there could be. you won't know until you try. recently the banks have been cracking down on U.S. citizens, under pressure from America. as a U.K. citizen i would imagine it will be less of a hurdle.

[dave2]

re

If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

hes right ,,,, which bank do you want ?

and the cost for this help and hour of my time !

a beer

dave2

[Oscar2]

re

If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

hes right ,,,, which bank do you want ?

and the cost for this help and hour of my time !

a beer

dave2

considering each account is insured for up to 50 million Baht, you must be one rich dude! why else would anyone have so many deposit accounts?

[mesquite]

I would recommend any American who is considering opening a bank account in CM do so now, regardless of visa. With FATCA it won't be getting any easier.

Edited May 13, 2014 by mesquite

[Chicog]

I did mine at SCB on Tha Pae road. They have good English speakers and they're very efficient. Took a Thai with me, JIC, and my passport and they opened me a savings account on the spot, with a debit card.

Although a lot of people prefer two accounts, keeping smallish money in one because of all the card skimming that goes on, and the lump of cash in the other with no card.

I lost the book once, so took a Thai with me to the police station in the old city to get a report. Then went to the bank, they closed the account, opened me a new one with a new book and card and it all took about 20 minutes.

[intel4004]

I did mine at SCB on Tha Pae road. They have good English speakers and they're very efficient. Took a Thai with me, JIC, and my passport and they opened me a savings account on the spot, with a debit card.

Although a lot of people prefer two accounts, keeping smallish money in one because of all the card skimming that goes on, and the lump of cash in the other with no card.

I lost the book once, so took a Thai with me to the police station in the old city to get a report. Then went to the bank, they closed the account, opened me a new one with a new book and card and it all took about 20 minutes.

Card fraud/cloning, hadn't thought about that. Will keep that in mind when opening an account.

[dave2]

re

considering each account is insured for up to 50 million Baht,

i thought it was one million ? .. but whatever

re

why else would anyone have so many deposit accounts?

coz im carefull ! having 800 odd thousand in one account for three months makes me nervous even though ive never lost one baht

so as soon as ive got my new permission to stay one year stamp i spread the 800 odd over 5 other banks for 9 months and feed / live off them all until next year

dave2s happy

pics .. new graffiti i found yesterday !

Edited May 13, 2014 by dave2

[onthedarkside]

re

considering each account is insured for up to 50 million Baht,

i thought it was one million ? .. but whatever

Correct - each Thai bank account is only guaranteed for a max of 1 million baht. There was some talk a few years back of reducing to 500K but I never heard that had been introduced.

[SunsetT]

Recalling this discussion a few years ago, it was said that it was all down to whether the bank manager is farang friendly or not. Kasikorn seemed to get most recommendations for ease of opening an account, which is what I did but not in CM. This is what I did and it was easy and straightforward with passport and address. Kasikorn accounts had a period when they seemed to have been hit by more ATM fraud than other banks; hence recommendation to hold 2 accounts. I have never had a problem. Last year I tried to open an account with TMB as they introduced all free transactions. But they said I needed a work permit. I thought that strange as so many Expats are retired so would be ineligible. Still, Its their loss.

[Oscar2]

re

considering each account is insured for up to 50 million Baht,

i thought it was one million ? .. but whatever

Correct - each Thai bank account is only guaranteed for a max of 1 million baht. There was some talk a few years back of reducing to 500K but I never heard that had been introduced.

i wasn't sure but read on the DPA website ---> http://www.dpa.or.th/ewt_news.php?nid=320&filename=index___EN

[dave2]

re

Coverage of insured deposits

The Coverage of insured deposits according to The Royal Decree on an extension of deposit coverage, is as follows:

Period

Coverage

11 Aug 2012 – 10 Aug 2015

Baht 50 million

11 Aug 2015 – 10 Aug 2016

Baht 25 million

11 Aug 2016 – Onwards

Baht 1 million

well according to the above your right but i dont care

my 800 odd has been in bangkok bank warrarot market since april ready for my new stamp in july and thats all that has concerned me for the last six years

but next year ill be doing it on pension income as i retired a month ago so i wont need to use the 800 method again !

dave2 .. a very happy man

[mesquite]

re

Coverage of insured deposits

The Coverage of insured deposits according to The Royal Decree on an extension of deposit coverage, is as follows:

Period

Coverage

11 Aug 2012 – 10 Aug 2015

Baht 50 million

11 Aug 2015 – 10 Aug 2016

Baht 25 million

11 Aug 2016 – Onwards

Baht 1 million

well according to the above your right but i dont care

my 800 odd has been in bangkok bank warrarot market since april ready for my new stamp in july and thats all that has concerned me for the last six years

but next year ill be doing it on pension income as i retired a month ago so i wont need to use the 800 method again !

dave2 .. a very happy man

Except you will pay $50 at the US Consulate for the letter vis 100 or 200 THB at a bank for that letter.

[dave2]

re

Except you will pay $50 at the US Consulate for the letter vis 100 or 200 THB at a bank for that letter

errr ummmm errr .. im a brit

and i can do 200 baht for a bank letter as opposed to having 800 odd stuck in there for three months doing nothing

no problem .... anyway if the op needs any help he knows where to come !

dave2

[true blue]

bangkok bank ksk,is very farang friendly.

[hawkeye76]

I have to say, i find all this very strange.. I am currently using an account in a thai friends name, when need to transfer funds into thailand. I had account in kasikorn, and needed new card, as i had been travelling, so the card were finished in the meantime. When i went there, they told me they would close my account, unless i could show work permit (or similar longterm visa thing..) I could not, so they closed my account. This was in airport plaze. Then i went to bangkok bank, in airport plaza (again), and had my friend try open bank account for me (approx 6 month ago), she were declined. She had good relationship with the bank, but they still said no!. So she opened new account in her name, and gave me card, book and so on.. Now i am reading all this here, and everyone can get account no problems.. I am living on a tourist visa, but keep walking "into a locked door", in this regards.. I even know a woman who is branch manager in bangkok kasikorn, and she say you need work permit, or some sort of long term visa to get an debit account.. I think its very different where you show up.. I can go into 10 bangkok banks around CM, and get 10 different answers.. Crazy.. But again.. TIT.. Where is the some bangkok banks that you guys think is farang friendly, if i bring a Thai person that is customer already ?

Edited May 14, 2014 by hawkeye76

[ovenman]

I have to say, i find all this very strange.. I am currently using an account in a thai friends name, when need to transfer funds into thailand. I had account in kasikorn, and needed new card, as i had been travelling, so the card were finished in the meantime. When i went there, they told me they would close my account, unless i could show work permit (or similar longterm visa thing..) I could not, so they closed my account. This was in airport plaze. Then i went to bangkok bank, in airport plaza (again), and had my friend try open bank account for me (approx 6 month ago), she were declined. She had good relationship with the bank, but they still said no!. So she opened new account in her name, and gave me card, book and so on.. Now i am reading all this here, and everyone can get account no problems.. I am living on a tourist visa, but keep walking "into a locked door", in this regards.. I even know a woman who is branch manager in bangkok kasikorn, and she say you need work permit, or some sort of long term visa to get an debit account.. I think its very different where you show up.. I can go into 10 bangkok banks around CM, and get 10 different answers.. Crazy.. But again.. TIT.. Where is the some bangkok banks that you guys think is farang friendly, if i bring a Thai person that is customer already ?

Crazy maybe, but branch to branch inconsistencies regarding a foreigner's ability to open an account in a Thai bank are nothing new.

[scottishjohn]

I would recommend any American who is considering opening a bank account in CM do so now, regardless of visa. With FATCA it won't be getting any easier.

I don't know if Thailand has signed up to FACTA (I assume it has) and if so it comes into force on 1 June 2014.

[chiang mai]

re

considering each account is insured for up to 50 million Baht,

i thought it was one million ? .. but whatever

Correct - each Thai bank account is only guaranteed for a max of 1 million baht. There was some talk a few years back of reducing to 500K but I never heard that had been introduced.

I hate to contradict on this point but Thai bank accounts are insured up to 50 mill, thereafter on a decreasing scale until 2016, expectations are and if history repeats, the higher limits will be reissued.

The Coverage of insured deposits according to The Royal Decree on an extension of deposit coverage, is as follows:

Period

Coverage

11 Aug 2012 – 10 Aug 2015

Baht 50 million

11 Aug 2015 – 10 Aug 2016

Baht 25 million

11 Aug 2016 – Onwards

Baht 1 million

[Sparkles]

Suggest you go to a major branch not one of the smaller branches that you find in Tesco or Big C.

The Bangkok Bank at KSK is a good suggestion. Talk to Mr Sombat,helpful guy,excellent English.

[Tokay]

Sent four friends to Bangkok Bank on tourist visas to open an account, no problem. Sent another two weeks ago, they said he needed a Thai to guarantee him. Same branch. Go figure.

[mesquite]

Sent four friends to Bangkok Bank on tourist visas to open an account, no problem. Sent another two weeks ago, they said he needed a Thai to guarantee him. Same branch. Go figure.

Yeah, typical. Learn to love it.

[AnotherOneAmerican]

re

If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

hes right ,,,, which bank do you want ?

and the cost for this help and hour of my time !

a beer

dave2

considering each account is insured for up to 50 million Baht, you must be one rich dude! why else would anyone have so many deposit accounts?

Soon to be 1 Million. But when a bank fails your assets can be frozen, 3 years last time (late 90s I believe).

Big problem if all your money is in a failed bank.

Then again, someone gets your PIN and empties your account, bad luck if you only have the one account.

And, TMB allows free withdrawals from any ATM in Thailand, but the bank isn't very foreigner friendly.

[chiang mai]

re

If you know someone that lives here, have them go with you to their branch and open an account in your own name. They will verify to the bank that they know you. Simple and straight forward!!!!

hes right ,,,, which bank do you want ?

and the cost for this help and hour of my time !

a beer

dave2

considering each account is insured for up to 50 million Baht, you must be one rich dude! why else would anyone have so many deposit accounts?

Soon to be 1 Million. But when a bank fails your assets can be frozen, 3 years last time (late 90s I believe).

Big problem if all your money is in a failed bank.

Then again, someone gets your PIN and empties your account, bad luck if you only have the one account.

And, TMB allows free withdrawals from any ATM in Thailand, but the bank isn't very foreigner friendly.

Then again, if you are suddenly and unexpectedly struck down with a thunderbolt whilst eating somtam at a road style stall on a Thursday afternoon at 3pm, that's an even bigger risk!!!

For newbies, the info regarding bank deposit insurance is not correct, the following is:

The Coverage of insured deposits according to The Royal Decree on an extension of deposit coverage, is as follows:

Period

Coverage

11 Aug 2012 – 10 Aug 2015

Baht 50 million

11 Aug 2015 – 10 Aug 2016

Baht 25 million

11 Aug 2016 – Onwards

Baht 1 million

[Oryx816]

I have had success while on tourist visas as follows:

Bangkok Bank Chang Klan Road--yes, using just the address of where I was staying for my one month visit at the time

Bangkok Bank Nimmanhaemin-- yes (speak to the manager, Ariporn, lovely lady and speaks English). They go out of their way to advise me of higher interest rate promos on time deposits.

Kasikorn Bank Nimmanhaemin-- literally didn't even give me an opportunity to sit down when I said I wanted to open an account. Returned to same branch a few months later on another visit, with my husband (who wanted an account there) and a Thai friend who had an account there, and no problem! Now when we go there they all know us and greet us happily and give my daughter goodies. Go figure.

Regarding "evidence"; they required only my passport, an address I gave them verbally (no proof of address was requested), my phone number and email.....and of course, cash. I even opened one at Kasikorn for my daughter who is a minor and her only documentation was a passport and a valid tourist visa.

My point is, as with most things in Thailand, sometimes you must ask repeatedly (and in this case in different locations) to get the answer you desire. As in most places, good manners, a smile, decent hygiene and not showing up in the wrinkled clothes you slept in, also makes people more amenable to helping you when rules need bending. Best of luck!

Edited May 16, 2014 by Oryx816

[mikey88]

This hasn't been my experience. I wanted to change my account which I had for years before the new rules. They said they would have to close it and open a new one but the new rules would apply. They wanted a lease agreement for more than 6 months. I had one for 3 months but they said ...no.

[Oscar2]

I have had success while on tourist visas as follows:

Bangkok Bank Chang Klan Road--yes, using just the address of where I was staying for my one month visit at the time

Bangkok Bank Nimmanhaemin-- yes (speak to the manager, Ariporn, lovely lady and speaks English). They go out of their way to advise me of higher interest rate promos on time deposits.

Kasikorn Bank Nimmanhaemin-- literally didn't even give me an opportunity to sit down when I said I wanted to open an account. Returned to same branch a few months later on another visit, with my husband (who wanted an account there) and a Thai friend who had an account there, and no problem! Now when we go there they all know us and greet us happily and give my daughter goodies. Go figure.

Regarding "evidence"; they required only my passport, an address I gave them verbally (no proof of address was requested), my phone number and email.....and of course, cash. I even opened one at Kasikorn for my daughter who is a minor and her only documentation was a passport and a valid tourist visa.

My point is, as with most things in Thailand, sometimes you must ask repeatedly (and in this case in different locations) to get the answer you desire. As in most places, good manners, a smile, decent hygiene and not showing up in the wrinkled clothes you slept in, also makes people more amenable to helping you when rules need bending. Best of luck!

don't know what "rules you needed bending" or what country you come from, but very soon it will close to impossible for Americans to open an account in Thailand (unless you follow the rules and sign a U.S. tax form of which the banks already have stocks of).