Best BKK Account for Farang - No ATM Fees - No Work Permit

[Lannig]

Not sure this applies to the OP but a word of caution: if you intend to bring in foreign currency and deposit it to your Thai bank account, avoid Kasikorn (KBANK) at all cost. My account lies there and that would be too much of a hassle to switch, but they're a real pain in the back when it comes to accepting foreign banknotes. Any note that is not perfectly spotless and without the tiniest tear will be rejected. And they insist on photocopying every single note and have you sign each sheet of the copies. It takes me over an hour to do this every time I bring in a couple of thousand euros over here.

I

Last time they've rejected almost half of the banknotes because of defects I could hardly see. Had to go to the nearest BKK Bank where they were exchanged within 10 minutes, hassle-free, and come back to deposit the bahts.

I've complained (politely) several times about this being such a pain and they've told me that's a company policy and I should switch banks if I'm not happy with it (can you believe this?).

I would do so if I still had a work permit. But I don't anymore.

The whole point, at least for me, of having the Thai account was so I could make wire transfers, and NOT HAVE TO carry lots of cash with me while traveling. And Kasikorn has worked just fine for this. They may be picky about exchanging currency, I wouldn't know, but I have no problems whatsoever with the international transfers.

Well, don't know how it works for you, but last time I've checked fees charged for int'l money transfers from my bank in France to the KBANK were plain and simple inacceptable for me. As much as the time it takes for the money to be there. So carrying cash over is my preferred option unless I can arrange something with another French expat.

[JThai]

I'm not worried about the transfers I get the best exchange rate and no fees from my ATM card no need to exchange. I will be depositing THB right after I get it out of their ATM right next to it.

[AyG]

"Over the years" and what's going on now are probably two different things. While I have no doubt that there are some banks/branches opening accounts for foreigners, it's clear that the days of a quick opening with minimal paperwork are gone, at least for the time being.

In a different thread I recently posted my experience about opening an account and I have a Non-O multi-entry visa and an invitation letter from the Thai government (NRCT) for my purpose of stay. Every bank, and I mean every bank, I went to asked for a work permit, even those that are "headquarters" or "farang friendly" as previously described. I still couldn't get an account in my own name solely because of the work permit and visa type I hold, so I had to open a joint savings with my wife and I'm a secondary user on the account.

Based solely on my own experience, past and present, I find that the landscape has changed. For those who opened an account within the past few months, I'm confident their experience is most likely different than those who opened an account 6 months to a year ago, let alone longer.

I can only say that my personal experience has been very different. In the last two months I've opened accounts with Bangkok Bank (2) and Krung Sri (3). No workpermit, and no problems. All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

What I had much more problem with was trying to close an account. It proved absolutely impossible for me to close my Krung Thai savings account, even though it had less than a Baht left in it.

[lopburi3]

Yes - closing account is much harder than opening - in many cases you must go to main bank office to do so. You just take all the money (to the last baht) and forget it - it gets closed automatically that way and nobody loses face. Same for Thai account holders.

[Pib]

Where I mentioned earlier I opened a Bangkok Bank account Dec 13...well that is true...did it at the branch in the HQ Bangkok Bank building in Bangkok on Silom Rd. And then a week later I went and closed a Bangkok Bank account in a province bordering Bangkok--no problem in closing that account....they were sorry to see me go but understood their branch was no longer convenient to me since I now lived in Bangkok.

[IAMHERE]

OP, it easier to get money into Bangkok Bank than other banks if you are from USA. They have an RTN (routing transit number)

[Pib]

Seems like my dream setup would be to have:

1. 1 x Krungsri Savings Account w/ All ATM Card - Cost 1164 for 3 years/388 a year - (mandatory SMS service).

2. 1 x Krungsri Savings Account w/ No ATM - I will hold all money in this account until its time to withdraw.

3. Have both accounts linked with internet access but not ATM access so that I can do transfers instantly between the two.

If I can't find a branch to do that I will go for Bangkok Bank with a similar setup.

I will take my:

1. Passport

2. American Drivers License

3. A bank statement (US)

4. A print out of my SSN (don't have the original with me)

5. Smile and professional attitude

6. 20K THB to deposit on the spot

7. Maybe I'll buy a cheap indian suit on the day I go hunting for this

Hopefully this will be enough to get some luck. Should I just open the 1st account and then later try to open the second account?

And if they happen to turn you down, it's not like you are then immediately blacklisted from all Thai bank branches around the country. Just walked down the soi and try a different branch. I think I would just open "one" account to start with...get the foot in the door...then come back a week later or so and open the second account if you want one account with ATM and one account without.

[Monkorn]

I can only say that my personal experience has been very different. In the last two months I've opened accounts with Bangkok Bank (2) and Krung Sri (3). No workpermit, and no problems. All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

What I had much more problem with was trying to close an account. It proved absolutely impossible for me to close my Krung Thai savings account, even though it had less than a Baht left in it.

If you don't mind answering, I have two questions: (1) What type of visa/extension are you on? (2) Which branch of BB or Krung Sri did you have success at? Possibly the first played a role in whether a work permit is required by the branch manager?

Also, I asked how does a student or retiree open an account when they can't work legally? Only the guy from Citi answered my question by telling me that I'm not on either so it's a non-issue. I wasn't happy with the response, but at least he acknowledged it unlike the other two banks. During the Q&A he said it's Citi's policy to have a work permit, even on a multiple entry Non-O. I got the same response from the Citi at Central World. When the other banks followed suit (Bangkok Bank and TMB), I took it for granted that it's just the way it is now. I stand corrected with the information you and Pib posted.

I do, however, think your insight will be helpful to those of us looking to diversify by opening multiple accounts.

[emanphoto]

I opened one on Suk. near Punnawithi station 2 years ago. Type O visa and no WP.

some years ago there were many reports here in TV about that Kasikorn branch near Phrom Phong on Sukhumvit (Soi 31/33 or so?) which obviously opened accounts easily even for non-work-permit holders.

I know of a friend who went there too after reading this and they opened an account for him, even though he had no work-permit, but at least a non-immi-Visa (but he has since then left Thailand for good so I can not ask him).

not sure if the conditions are still the same, but just google for it, particularly as you stay not far away from this location.

[AyG]

I can only say that my personal experience has been very different. In the last two months I've opened accounts with Bangkok Bank (2) and Krung Sri (3). No workpermit, and no problems. All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

What I had much more problem with was trying to close an account. It proved absolutely impossible for me to close my Krung Thai savings account, even though it had less than a Baht left in it.

If you don't mind answering, I have two questions: (1) What type of visa/extension are you on? (2) Which branch of BB or Krung Sri did you have success at? Possibly the first played a role in whether a work permit is required by the branch manager?

Also, I asked how does a student or retiree open an account when they can't work legally? Only the guy from Citi answered my question by telling me that I'm not on either so it's a non-issue. I wasn't happy with the response, but at least he acknowledged it unlike the other two banks. During the Q&A he said it's Citi's policy to have a work permit, even on a multiple entry Non-O. I got the same response from the Citi at Central World. When the other banks followed suit (Bangkok Bank and TMB), I took it for granted that it's just the way it is now. I stand corrected with the information you and Pib posted.

I do, however, think your insight will be helpful to those of us looking to diversify by opening multiple accounts.

I'm on an extension based upon retirement.

My accounts were with Bangkok Bank in Khannayao and Minburi. The Krung Sri accounts were in Ayutthaya and Khannayao (2).

[Pib]

The places where I have opened accounts recently in Bangkok is at the branch on the 1st floor of the HQ Bangkok Bank building on Silom Rd....account opened Dec 13. And in Sep 14 at the Krungsri branch on the ground floor of Chaeng Wattana/Bangkok Immigration building. I'm on a Retirement Extension of Stay.

[JThai]

You guys are lucky to get retirement visas! I don't want to be 50 yet though! haha.

Sounds like they would make trouble opening a bank account even on a Thai Elite Visa!

[Pib]

You guys are lucky to get retirement visas! I don't want to be 50 yet though! haha.

Sounds like they would make trouble opening a bank account even on a Thai Elite Visa!

JThai,

Time for you to stop all the research on opening a Thai bank account and just go give it a try...time for your solo flight...all the branch can do is say no. If that branch says no, then go try the next branch down the soi. Good luck.

Pib

[JThai]

You guys are lucky to get retirement visas! I don't want to be 50 yet though! haha.

Sounds like they would make trouble opening a bank account even on a Thai Elite Visa!

JThai,

Time for you to stop all the research on opening a Thai bank account and just go give it a try...time for your solo flight...all the branch can do is say no. If that branch says no, then go try the next branch down the soi. Good luck.

Pib

Agreed. I wont be doing it until the last week of December though when I get back - not sure any one would want to give it to me with 1 week left on extension. Will keep everyone posted, but do hope to hear of others with good news before then. Thanks everyone.

[hawker9000]

Not sure this applies to the OP but a word of caution: if you intend to bring in foreign currency and deposit it to your Thai bank account, avoid Kasikorn (KBANK) at all cost. My account lies there and that would be too much of a hassle to switch, but they're a real pain in the back when it comes to accepting foreign banknotes. Any note that is not perfectly spotless and without the tiniest tear will be rejected. And they insist on photocopying every single note and have you sign each sheet of the copies. It takes me over an hour to do this every time I bring in a couple of thousand euros over here.

I

Last time they've rejected almost half of the banknotes because of defects I could hardly see. Had to go to the nearest BKK Bank where they were exchanged within 10 minutes, hassle-free, and come back to deposit the bahts.

I've complained (politely) several times about this being such a pain and they've told me that's a company policy and I should switch banks if I'm not happy with it (can you believe this?).

I would do so if I still had a work permit. But I don't anymore.

The whole point, at least for me, of having the Thai account was so I could make wire transfers, and NOT HAVE TO carry lots of cash with me while traveling. And Kasikorn has worked just fine for this. They may be picky about exchanging currency, I wouldn't know, but I have no problems whatsoever with the international transfers.

Well, don't know how it works for you, but last time I've checked fees charged for int'l money transfers from my bank in France to the KBANK were plain and simple inacceptable for me. As much as the time it takes for the money to be there. So carrying cash over is my preferred option unless I can arrange something with another French expat.

I actually pay no fees at all. I used to pay a small fee to an "intermediary" bank in NY, but even that's no longer the case. But I understand that if yours are that high, then I guess it's not a practical option. Is that true of all French banks? (Typical wire xfr fee for U.S. banks is in the $10-25 range which isn't all that unreasonable unless you're trying to transfer very small amounts of money.) Anyway, you could always do your money changing elsewhere and then bring the baht to a Kasikorn branch to deposit it. Exchange booths all over that won't hassle you at all.

[Mister Fixit]

Kasikorn Bank - the easiest and best for me. Never a problem with the staff, who are friendly and helpful.

I know an 85 year old on a tourist visa who opened an account with them!

Siam Square branch seems pretty good for foreigners.

[TallGuyJohninBKK]

BKK Bank clearly states on their company website that they will open new savings accounts for non-Thais, even those on tourist visas, with proper IDs. No work permit required. (Though I'm sure there are some BKKB branches out there that either don't know or don't follow their own company's policy).

Standard Chartered's main Sathorn branch, meanwhile, is perfectly happy to open new accounts for those on marriage or retirement visas. Again, no work permit required.

That's the current situation, not one year or 3-4 years ago. Including Americans (as I can speak from personal experience).

PS - BTW, thanks to all who are mentioning their successful account opening experiences at particular branches and naming them.

That's the only way to provide meaningful advice on this subject, since the new accounts for farang policies tend to vary so much from branch to branch even within the same Thai bank company.

Edited October 21, 2014 by TallGuyJohninBKK

[Lannig]

Not sure this applies to the OP but a word of caution: if you intend to bring in foreign currency and deposit it to your Thai bank account, avoid Kasikorn (KBANK) at all cost. My account lies there and that would be too much of a hassle to switch, but they're a real pain in the back when it comes to accepting foreign banknotes. (...)

The whole point, at least for me, of having the Thai account was so I could make wire transfers, and NOT HAVE TO carry lots of cash with me while traveling. And Kasikorn has worked just fine for this. They may be picky about exchanging currency, I wouldn't know, but I have no problems whatsoever with the international transfers.

Well, don't know how it works for you, but last time I've checked fees charged for int'l money transfers from my bank in France to the KBANK were plain and simple inacceptable for me. As much as the time it takes for the money to be there. So carrying cash over is my preferred option unless I can arrange something with another French expat.

I actually pay no fees at all. I used to pay a small fee to an "intermediary" bank in NY, but even that's no longer the case. But I understand that if yours are that high, then I guess it's not a practical option. Is that true of all French banks? (Typical wire xfr fee for U.S. banks is in the $10-25 range which isn't all that unreasonable unless you're trying to transfer very small amounts of money.) Anyway, you could always do your money changing elsewhere and then bring the baht to a Kasikorn branch to deposit it. Exchange booths all over that won't hassle you at all.

Well, French banks suck, I have to agree on this wholeheartedly.

We don't even get any interest on our check accounts balance, you know.

Last time I've checked, for a €2,000 transfer, fees where in the 30++€ range and the transfer could take well over 10 days.

As for your suggestion: that's what I end up doing, thanks, as written previously. BKK Bank and Krung Sri branches at least seem to be trouble free (no dedicated exchange booth where I am) and I got my Thai cash in less than 10 minutes. Thing is, last time I couldn't do it the same day because time was lacking. Had to wait over the week-end and by monday the bloody Euro had dropped significantly (seems that banks have different exchange rates too -- came as a surprise to me, I thought that they had to stick to an official rate). The thing costed me about 800THB... Kob khun krub Kasikorn... still less than the int'l transfer charges, though.

Edited October 22, 2014 by Lannig

[hawker9000]

Try looking for the independent money changers - the ones not affilated with any bank. Their exchange rates are signficantly better than the regular bank-affilated exchange booths. At least for USD - I assume the same is true for the euro.

[JThai]

I've noticed that I see Bangkok Bank ATM's everywhere I might need one. Seems every BTS stop has one on either side too. I might be able to get by with just a BB chip card.

[louse1953]

I guess I will try for BB and ask for two accounts and transfer as needed AND get both the B1est and regular card just in case.

Stole these tips from another post, looks good:

--Set their BKKB POS daily limit to zero, so the card/card number can't be used for swipe and sign purchases or online purchases.

--Set their BKKB ATM daily withdrawal limit to the lowest amount available, 50,000 baht, if I recall correctly.

--Keep the bulk of your funds in an account without an ATM card, and only keep a minimum amount in another account with the ATM card. Use online banking to transfer funds into the ATM card account as needed.

Also I see that I was wrong. It's only 10B to get money from another region using a BB ATM and the first one is free. I can live with that haha. (http://www.bangkokbank.com/BANGKOKBANK/WEBSERVICES/HELPCENTER/Pages/FeeTable.aspx).

Now I just need to find a lovely branch who allow me to have not one but two accounts without a work permit. I don't really want to put 300K in it right now I'm about to leave the country.

5555,so it wasn't the principle after all,you lowered your standard for 5 baht.What a tight arse,you make me look good.2 cards work for me,just shop around BB's to you find one,shouldn't take long.

[louse1953]

Krung Sri offers a debit card which can be used at all ATMs, free of charge. There's a fee of 480 Baht for three years' service.

I prefer this to the Bangkok Bank Be1st card for the simple reason that that card started to delaminate and had repeatedly to be stuck back together which meant frequent problems paying at the supermarket. No such problems with the Krung Sri card.

http://www.krungsri.com/bank/PersonalBanking/DepositProducts/KrungsriDebitcard/KrungsriDebitAllATMs.html

If that card ain't chipped mate,your mad using it at supermarkets.

[louse1953]

Krungsri might be a winner now I just gotta see if they will give account to lowly foreigner with no work permit haha.

I am a high farang and i couldn't get one unless it earned no interest.Walked out without a word.Already had an acc. at BB with interest on every acc,plus fixed deposit.Some banks just don't want your money.

[louse1953]

So I just found this :

Bangkok Bank officially should allow you to open an account without a work permit. Stated right here:

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

Even if you are only visiting Thailand for a relatively short period of time, you can open a savings account and get a debit card to use for shopping and ATM withdrawals. All you will need to provide is your passport and one other official identification document – for example, your driver’s license or a reference letter from your embassy, your home bank or a person acceptable to the bank. (More details below)

You will also need to provide evidence of your address in Thailand as well as your regular address in your home country.

But what about these reports that you can't get access to online banking without a work permit?

Access no probs.just got to set it up.

[Pib]

Krungsri might be a winner now I just gotta see if they will give account to lowly foreigner with no work permit haha.

I am a high farang and i couldn't get one unless it earned no interest.Walked out without a word.Already had an acc. at BB with interest on every acc,plus fixed deposit.Some banks just don't want your money.

I'm a LoSo on a retirement extension of stay...Krungsri opened an account (a Mee Tai Dai savings account paying 2.3%) for me around two months ago...no problem. Since I was American, I had to fill out their FATCA questionnaire and an IRS W-9 form...these two forms took an extra five minutes or so. Got a debit card (no insurance) and ibanking also.

Edited October 25, 2014 by Pib

[louse1953]

I can't understand why people are banging on about work permits......You don't need a work permit to open a bank account in Thailand....Period!

If you are told by the bank...."You need a work permit" it's because they don't know how to deal with you, or can't be bothered and its the easy way out to tell you that....Or, you may just be talking to someone in the bank that doesn't know, (should know) but to save face will tell you...."You need work permit"...They will not admit they don't know.....The worst incident of this was getting my house electric bill in my name, I had a ding dong of a battle with some smart ass in the electric office. I wouldn't take his ..."you need work permit" shit. Eventually with all the noise, the big boss came down stairs, I thought, OK there goes my electric bill in my name...The boss gave the guy who said I needed a work permit, (after listening to his story) a proper ear bending...Lol and came and spoke perfect English to me and sorted out the bill in my name personally.

I'm no expert, in my experience in Thailand you have to deal with the people in positions of authority all the time that don't know what there doing and because of the 'face' thing, will blow you off because they don't know how to deal with your request or to feel important!

You are onto it.I have been coming here for decades and if you thing you are right,just get the head man.Don't worry about the 1st persons face,you have your own face to deal with.While your at the electricity office,get a direct debit form,fill it in,nick down the bank,come back and hand it over.Now you never have to go there again.Works for me.

[louse1953]

Seems like my dream setup would be to have:

1. 1 x Krungsri Savings Account w/ All ATM Card - Cost 1164 for 3 years/388 a year - (mandatory SMS service).

2. 1 x Krungsri Savings Account w/ No ATM - I will hold all money in this account until its time to withdraw.

3. Have both accounts linked with internet access but not ATM access so that I can do transfers instantly between the two.

If I can't find a branch to do that I will go for Bangkok Bank with a similar setup.

I will take my:

1. Passport

2. American Drivers License

3. A bank statement (US)

4. A print out of my SSN (don't have the original with me)

5. Smile and professional attitude

6. 20K THB to deposit on the spot

7. Maybe I'll buy a cheap indian suit on the day I go hunting for this

Hopefully this will be enough to get some luck. Should I just open the 1st account and then later try to open the second account?

I pegged you as a tight arse,now your buying unnecessary suits,albeit cheap.I apologize.God man,this is longer than Blue Hills,just front up and get the bloody card.I'm starting to feel sorry for the bank person you confront,they wont forget you in a hurry,probably will never deal with a farang again,traumatized and needs counciling.

[louse1953]

"Over the years" and what's going on now are probably two different things. While I have no doubt that there are some banks/branches opening accounts for foreigners, it's clear that the days of a quick opening with minimal paperwork are gone, at least for the time being.

In a different thread I recently posted my experience about opening an account and I have a Non-O multi-entry visa and an invitation letter from the Thai government (NRCT) for my purpose of stay. Every bank, and I mean every bank, I went to asked for a work permit, even those that are "headquarters" or "farang friendly" as previously described. I still couldn't get an account in my own name solely because of the work permit and visa type I hold, so I had to open a joint savings with my wife and I'm a secondary user on the account.

Based solely on my own experience, past and present, I find that the landscape has changed. For those who opened an account within the past few months, I'm confident their experience is most likely different than those who opened an account 6 months to a year ago, let alone longer.

I can only say that my personal experience has been very different. In the last two months I've opened accounts with Bangkok Bank (2) and Krung Sri (3). No workpermit, and no problems. All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

What I had much more problem with was trying to close an account. It proved absolutely impossible for me to close my Krung Thai savings account, even though it had less than a Baht left in it.

Isn't it obvious when they copy your passport,where you come from.

[AyG]

All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

Isn't it obvious when they copy your passport,where you come from.

Where you're from makes no difference. Everybody is required to submit to the unreasonable, imperialistic demands of the American Empire, just on the remote chance you have dual nationality and carry a second passport.

Whilst American corporations are robbing the world blind with their egregious tax evasion, uninvolved individuals from other countries are being imposed upon to help Uncle Sam's attempts to collect tax from its little people. Iniquitous.

[Godfree2]

All that has changed is the stupid new form where I have to avow that I'm not a seppo (a form I profoundly resent - Yankee imperialism and all that).

Isn't it obvious when they copy your passport,where you come from.

Where you're from makes no difference. Everybody is required to submit to the unreasonable, imperialistic demands of the American Empire, just on the remote chance you have dual nationality and carry a second passport.

Whilst American corporations are robbing the world blind with their egregious tax evasion, uninvolved individuals from other countries are being imposed upon to help Uncle Sam's attempts to collect tax from its little people. Iniquitous.

Yes, now stop complaining and bow down.