Can a Thai open a bank account in Laos or Myanmar?

[billd766]

A friend has asked me (because I am more internet savvy) if it is possible for a Thai living in Thailand to open a bank account in Laos or Myanmar?

I am not sure if this is the correct forumor not as it is about banking but if it is the wrong one could a mod move it to the appropriate forum.

Thanks

For the general education of some posters it is not my wife but a Thai friend I have known for some 20 years.

[roasty]

I have opened a bank account at JDB in VTE whilst I was living in Hong Kong. I am a UK citizen, so I don't see why a Thai national can't open an account in Laos.

[SeaVisionBurma]

if it is possible for a Thai living in Thailand to open a bank account in Laos or Myanmar?

Just taking the above question - for Myanmar, no. You would need to visit Myanmar and have a residential address there to open the account.

You cannot do it while physically in Thailand.

Really more info is needed to properly answer this, you question is a little vague - for what purpose would they be trying to open an account in another country without living there? Are they starting a business in the other country, going to work there, planning to move there - and what type of account are we talking about?

[billd766]

if it is possible for a Thai living in Thailand to open a bank account in Laos or Myanmar?

Just taking the above question - for Myanmar, no. You would need to visit Myanmar and have a residential address there to open the account.

You cannot do it while physically in Thailand.

Really more info is needed to properly answer this, you question is a little vague - for what purpose would they be trying to open an account in another country without living there? Are they starting a business in the other country, going to work there, planning to move there - and what type of account are we talking about?

My friend is having a bit of trouble with banks in Thailand and needs to pay the survivors military pension from the USA into somewhere.

My friend only needs an account to pay the cheque into and an ATM card to withdraw it out of.

An American mate tried to pay the cheque into his bank account in the USA after it was endorsed by my friend but firstly it was lace so the bank would not accept that and secondly it seems as though no banks in the USA will now accept a 3rd party cheque. I asked a friend in the UK if it could be done through her bank and she found out the the UK will not accept 3rd party cheques either.

[SeaVisionBurma]

My friend is having a bit of trouble with banks in Thailand and needs to pay the survivors military pension from the USA into somewhere.

My friend only needs an account to pay the cheque into and an ATM card to withdraw it out of.

An American mate tried to pay the cheque into his bank account in the USA after it was endorsed by my friend but firstly it was lace so the bank would not accept that and secondly it seems as though no banks in the USA will now accept a 3rd party cheque. I asked a friend in the UK if it could be done through her bank and she found out the the UK will not accept 3rd party cheques either.

In this case, I'd say Myanmar for opening a bank is out of the question for your friend. Myanmar's banking system is not yet aligned with the international banking system (not quite anyway) meaning your friend would have to visit Myanmar every time he wanted to make a withdrawal from an ATM.

[billd766]

My friend is having a bit of trouble with banks in Thailand and needs to pay the survivors military pension from the USA into somewhere.

My friend only needs an account to pay the cheque into and an ATM card to withdraw it out of.

An American mate tried to pay the cheque into his bank account in the USA after it was endorsed by my friend but firstly it was lace so the bank would not accept that and secondly it seems as though no banks in the USA will now accept a 3rd party cheque. I asked a friend in the UK if it could be done through her bank and she found out the the UK will not accept 3rd party cheques either.

In this case, I'd say Myanmar for opening a bank is out of the question for your friend. Myanmar's banking system is not yet aligned with the international banking system (not quite anyway) meaning your friend would have to visit Myanmar every time he wanted to make a withdrawal from an ATM.

Thank you for that information.

We thought of Myanmar as we live in Khampaeng Phet province which is closer to Myanmar.

[SeaVisionBurma]

No problem, good luck with your search, I'm sure there will be other advice offered.

[billd766]

I have opened a bank account at JDB in VTE whilst I was living in Hong Kong. I am a UK citizen, so I don't see why a Thai national can't open an account in Laos.

What paperwork did you need and did the JDB have internet banking facilities?

[billd766]

No problem, good luck with your search, I'm sure there will be other advice offered.

Thanks.

[laochef]

In Laos, Vientiane, you need a business visa & workpermit, if you are a farang. Thais don't need a visa for the first 30 days so I don't know.

ANZ Bank, Australia-New Zealand Bank, issues Visa Cards, you can call them to ask.

BCEL Bank also issues Visa Cards, and has Internet Banking.

You can get a work-permit and 1 year Business Visas from many companies (without working), for around US$ 650.-

[angy]

interesting Laochef, I sent you a msg in PM

[LuukKoeyKorat]

3 years ago I left Thailand to live in Laos and set up a business.

One of my first tasks was to find a Lao bank to open an account with to deposit cash. BCEL (Banque Commerce Exterieur Laos) was my obvious choice as it is the most 'westernized' bank with modern branches, internet banking facilities and issues Visa/Mastercard cards. However upon applying to open an account, BCEL required a copy of your B-2 work visa and Work Permit booklet - having just arrived, this was out of the question as the paperwork was still in process.

Thus I tried LDB (Laos Development Bank). Although they did not issue Visa/Mastercard cards (they do now), I was able to open a standard Thai Baht deposit account (you have the choice of THB, USD or LAK accounts), with no questions asked - no need to show Work Permit, B-2 visa, residency etc. It certainly made life easier - although I could not withdraw money oversees, atleast I had a local ATM card and my money was safe.

To my knowledge, they still are the 'easiest' bank to open an account with in Laos. However, BCEL -by far- is the best developed and customer friendly, and it is advisable to change to a BCEL account as soon as possible to have international ATM withdrawal flexibility.

As mentioned before, this was 3 years ago but I cannot believe that LDB have changed their policies since. This is probably your best choice to deposit money in Laos - get issues with a domestic LDB ATM card and 'book bank', and withdraw at LDB ATMs or branches in Vientiane or elsewhere as you wish.

regards

[LuukKoeyKorat]

I totally missed the point of the OP my apologies.... having written my story above I forgot to add that I arrived with my Thai missus and she opened a THB account same as myself. Thai nationals are considered as foreign nationals, and would require the same Business visa and work permit, proof of residency etc as westerners. So yes - it is possible for a Thai national to open a bank account with no problems in Laos

[billd766]

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3 years ago I left Thailand to live in Laos and set up a business.

One of my first tasks was to find a Lao bank to open an account with to deposit cash. BCEL (Banque Commerce Exterieur Laos) was my obvious choice as it is the most 'westernized' bank with modern branches, internet banking facilities and issues Visa/Mastercard cards. However upon applying to open an account, BCEL required a copy of your B-2 work visa and Work Permit booklet - having just arrived, this was out of the question as the paperwork was still in process.

Thus I tried LDB (Laos Development Bank). Although they did not issue Visa/Mastercard cards (they do now), I was able to open a standard Thai Baht deposit account (you have the choice of THB, USD or LAK accounts), with no questions asked - no need to show Work Permit, B-2 visa, residency etc. It certainly made life easier - although I could not withdraw money oversees, atleast I had a local ATM card and my money was safe.

To my knowledge, they still are the 'easiest' bank to open an account with in Laos. However, BCEL -by far- is the best developed and customer friendly, and it is advisable to change to a BCEL account as soon as possible to have international ATM withdrawal flexibility.

As mentioned before, this was 3 years ago but I cannot believe that LDB have changed their policies since. This is probably your best choice to deposit money in Laos - get issues with a domestic LDB ATM card and 'book bank', and withdraw at LDB ATMs or branches in Vientiane or elsewhere as you wish.

regards

I totally missed the point of the OP my apologies.... having written my story above I forgot to add that I arrived with my Thai missus and she opened a THB account same as myself. Thai nationals are considered as foreign nationals, and would require the same Business visa and work permit, proof of residency etc as westerners. So yes - it is possible for a Thai national to open a bank account with no problems in Laos alt=rolleyes.gif>

Thank you very much for your most useful information as it the thing we are looking for.

Would it be possible to withdraw cash frim the LDB at an ATM in Thailand?

Edited August 15, 2014 by billd766

[LuukKoeyKorat]

I will have to check my old LDB ATM cards - if they have the 'Union Pay' emblem on them, then yes (at any Thai bank ATM with the 'Union Pay' emblem...I believe this is most Thai banks).

I was able to withdraw THB with one of my current Lao BCEL cards (no Visa/Mastercard but only 'Union Pay' on it) from a Kasikorn ATM in Udon - no problems, just a small fee of 20 Baht per withdrawal.

regards

[LuukKoeyKorat]

I just check the Union Pay website: http://cn.unionpay.com/AtmEnglishFront_Search.html

For Lao banks, only BCEL is in the Union Pay partnership

Looks like coming into Laos and withdrawing at an LDB ATM or bank branch is your only option.

regards

[billd766]

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I will have to check my old LDB ATM cards - if they have the 'Union Pay' emblem on them, then yes (at any Thai bank ATM with the 'Union Pay' emblem...I believe this is most Thai banks).

I was able to withdraw THB with one of my current Lao BCEL cards (no Visa/Mastercard but only 'Union Pay' on it) from a Kasikorn ATM in Udon - no problems, just a small fee of 20 Baht per withdrawal.

regards

I just check the Union Pay website: http://cn.unionpay.com/AtmEnglishFront_Search.html

For Lao banks, only BCEL is in the Union Pay partnership

Looks like coming into Laos and withdrawing at an LDB ATM or bank branch is your only option.

regards

Thanks for that update.

It is getting to be a pain sorting this out.

If only my friends husband had not died suddenly it would be easy.

He had a social security number, their 2 children have an ssn but they never got around to getting one for my friend in time.

With an ssn, life would be so much easier.

[thairastawoman]

3 years ago I left Thailand to live in Laos and set up a business.

One of my first tasks was to find a Lao bank to open an account with to deposit cash. BCEL (Banque Commerce Exterieur Laos) was my obvious choice as it is the most 'westernized' bank with modern branches, internet banking facilities and issues Visa/Mastercard cards. However upon applying to open an account, BCEL required a copy of your B-2 work visa and Work Permit booklet - having just arrived, this was out of the question as the paperwork was still in process.

Thus I tried LDB (Laos Development Bank). Although they did not issue Visa/Mastercard cards (they do now), I was able to open a standard Thai Baht deposit account (you have the choice of THB, USD or LAK accounts), with no questions asked - no need to show Work Permit, B-2 visa, residency etc. It certainly made life easier - although I could not withdraw money oversees, atleast I had a local ATM card and my money was safe.

To my knowledge, they still are the 'easiest' bank to open an account with in Laos. However, BCEL -by far- is the best developed and customer friendly, and it is advisable to change to a BCEL account as soon as possible to have international ATM withdrawal flexibility.

As mentioned before, this was 3 years ago but I cannot believe that LDB have changed their policies since. This is probably your best choice to deposit money in Laos - get issues with a domestic LDB ATM card and 'book bank', and withdraw at LDB ATMs or branches in Vientiane or elsewhere as you wish.

regards

Hello,

Thank you for your post, but can you tell if LATER the LDB bank asked your work permit or if you could still use this account as a tourist ? (without telling).

Thank you.

[thairastawoman]

In Laos, Vientiane, you need a business visa & workpermit, if you are a farang. Thais don't need a visa for the first 30 days so I don't know.

ANZ Bank, Australia-New Zealand Bank, issues Visa Cards, you can call them to ask.

BCEL Bank also issues Visa Cards, and has Internet Banking.

You can get a work-permit and 1 year Business Visas from many companies (without working), for around US$ 650.-

Helo,

Can you give companies names to get a work permit and 1 year visa in laos ?

Thanks.

[DavidMavec]

I attempted to open an account with LDB (Laos Development Bank) in the past few weeks on a tourist visa. I was told that I would need to either have a work permit in progress or have a Lao person as my guarantor. If I were to have a work permit in progress, I would need to submit the work permit within a month or I was told the account would be closed. I went to two branches (Vientiane) and both told me the same thing...

[billd766]

I attempted to open an account with LDB (Laos Development Bank) in the past few weeks on a tourist visa. I was told that I would need to either have a work permit in progress or have a Lao person as my guarantor. If I were to have a work permit in progress, I would need to submit the work permit within a month or I was told the account would be closed. I went to two branches (Vientiane) and both told me the same thing...

Thank you for the update.

I will get my Thai friend to see if she can call some banks over there.

It may be different for a Thai.

[DavidMavec]

I attempted to open an account with LDB (Laos Development Bank) in the past few weeks on a tourist visa. I was told that I would need to either have a work permit in progress or have a Lao person as my guarantor. If I were to have a work permit in progress, I would need to submit the work permit within a month or I was told the account would be closed. I went to two branches (Vientiane) and both told me the same thing...

Thank you for the update.

I will get my Thai friend to see if she can call some banks over there.

It may be different for a Thai.

Anyone else with recent info on opening an account in Laos on a tourist visa, it's appreciated :-).

Thanks.

[LuukKoeyKorat]

Thanks, great update David!

My experiences with LDB were 3 years ago.

regards

LKK

I attempted to open an account with LDB (Laos Development Bank) in the past few weeks on a tourist visa. I was told that I would need to either have a work permit in progress or have a Lao person as my guarantor. If I were to have a work permit in progress, I would need to submit the work permit within a month or I was told the account would be closed. I went to two branches (Vientiane) and both told me the same thing...

[Heng]

*bump any new info on this.... specifically for average everyday Thais opening plain Jane savings accounts in Laos? Is it possible on a tourist visa (or whatever they call it nowadays.... as it seems Thais can cross the border pretty easily). Obviously not a place to save too much (that's what Singapore, and a few other places are for), but it could be a nice place for a little rainy day type account for Thais who could also communicate much easier there.

Edited April 30, 2016 by Heng