Businessman Sued over Holiday Home that Looks Like Temple Pavilion

[Robbieseal]

I like to know if I and and overseas resident can open a Thai bank account both of us having equal rights to deposit and withdraw.

Thank You

[smokie36]

In short no.

[CharlieH]

MOVED to Banking forum

[starfish]

MOVED to Banking forum

Edited December 20, 2015 by starfish

[Pib]

Sure...but you got to get the joint account open first. You wlll not be able to open a joint account unless both of you go to the bank and apply. You can not go to the bank to apply for a joint account just with a name of a foreign resident you would like on the account with you....that person needs to be there with you and qualified to open an account.

Also, if you get the joint account opened and say get ibanking also, you will not be able to "withdraw/pull" funds from your Thai bank account to a foreign account....that is, initiate the funds pull from your home country bank. You can "send" funds from your Thai bank account but you'll need to go to the bank or have special ibanking pre-approval which allows you to send a certain amount back to the home country each month for a limited set of reasons which is usually based on repatriating your Thailand-based work salary.

Here's a couple of Bangkok Bank links for more info....info on the Bangkok Bank website is based on Thai banking laws/regulations so it generally applicable at other Thai banks also.

See the sublink on opening an account

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

Talks International Funds Transfers via ibanking

http://www.bangkokbank.com/OnlineBanking/PersonalBanking/iBanking/BualuangiBanking/Services/Pages/IFT.aspx

[fletchsmile]

The main problems OP will have are:

1) Generally banks will want a non-immig visa/ long term visa for foreigners to open a resident bank account. OP won't have that. So that puts him in the non-resident category.

2) OP is "non-resident" and the other party "resident" in Thailand. Residents are supposed to open normal bank accounts, non-residents are supposed to open non-resident accounts (NRBA). So the two are incompatible. He'll be able to open a NRBA account in his name, the other person won't if they have Thai ID card, and will be able to open a resident account in their name. So each is able to open a bank account but not of the same type.

3) For banks like BBL where they say it's possible for joint accounts, they are generally talking about a foreign national based in Thailand with a Thai spouse. OP didn't mention spouse. We have these, but the key things here is although I'm a foreign national, we are married and I'm resident in Thailand with a non-immig visa extension.

I checked this one recently with my RM for a good friend and was told no can do for joint account between resident and non-resident. When asking if other banks might do, they should have a similar policy on the resident/non-resident issue. May be possible that there are exceptions as Thai banking has all sorts of weird and wonderful things - but not the norm.

Cheers

Fletch

Edited December 21, 2015 by fletchsmile