Extra step now for opening a bank account

[dcnx]

I was just informed by Bangkok Bank that in order to open a new bank account I need to go to either Thai immigration or my home country embassy and have them confirm the validity of my passport and address. This applies to existing customers opening new accounts as well as new customers.

The type of visa you have doesn't matter.

Simply passing the information along. They have a copy of the form to take to immigration should you need it.

Edited March 26, 2016 by dcnx

[MadMac]

Why would anyone go to Bangkok Bank anyway. This is the last resort if one has no other option.

[NancyL]

What branch of Bangkok Bank told you this and what type of visa do you have?

I suspect it was a branch not used to dealing with foreigners. If you look at the Bangkok Bank website under "Foreigner Customers - Opening an Account" http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx

You'll see that there are several options to verify your identity with Bangkok Bank. A "reference letter" from your embassy is indeed one option. (I don't know of any embassy that would write such a letter!) or a reference from your home bank or a person known to them. I've served as the "person known to them" as reference for several people opening accounts at the Kad Suan Kaew branch since I'm a long-time customer with what they consider to be an acceptably large amount on deposit. The Kad Suan Kaew branch is very foreigner friendly and interested in opening accounts for people who intend to be long-term residents. They especially like the 800,000 baht accounts used to justify retirement visa extensions.

And yes, for many people Bangkok Bank is indeed the best bank to use, esp. for U.S. retirees and others who receive regular payments from the U.S. that they'd like to have direct deposited into their local Thai bank account. Bangkok Bank has a commercial branch in New York City, so you can use the U.S. ACH system to transfer funds as if Bangkok Bank was a U.S.-based bank. It's easy to use internet banking with your U.S. bank to transfer money into your Bangkok Bank account too and avoid expensive wire transfer fees.

No other Thai bank is tied into the U.S. ACH system this way. (ACH is automated clearing house system where use the routing number and account number to direct a funds transfer)

[CMBob]

I can maybe understand the confirmation of address (smells like a Certificate of Residence....which you can get from either Immigration or your embassy/consulate).....but how does either Immigration or your embassy/consulate confirm the validity of a passport? I've never even seen a form which would do that. Goofy.

Edit: To confirm the validity of the passport, maybe take a video of an Immigration official or embassy/consulate official holding your passport and saying "Hmmm....looks okay to me!"

Edited March 27, 2016 by CMBob

[MadMac]

@Nancy

I've tried BKK Bank in Singapore a long time ago when I purchased a condo some years ago for a funds transfer. They were completely incapable to do anything. BKK Bank in BKK then was also incapable to open a US$ account and after 1h of waiting just gave me the standard "not-losing face" answer "can not". It's a bunch of script monkeys.

Went to UOB and am a happy customer since.

Good if it works with the US branch but there are probably no Thais involved

[NancyL]

@Nancy

I've tried BKK Bank in Singapore a long time ago when I purchased a condo some years ago for a funds transfer. They were completely incapable to do anything. BKK Bank in BKK then was also incapable to open a US$ account and after 1h of waiting just gave me the standard "not-losing face" answer "can not". It's a bunch of script monkeys.

Went to UOB and am a happy customer since.

Good if it works with the US branch but there are probably no Thais involved

We're not in Singapore or even Bangkok. I'm a little surprised the Bangkok Bank people at their main office -- if indeed you were at the big home office and not a branch in Bangkok -- couldn't work out how to do a funds transfer from the U.S.

But, fortunately we're here in Chiang Mai and have a good team at the Kad Suan Kaew branch. Khun Sombat handles their foreign funds transfers. His desk is right next to the manager's glassed in office and he's a real friend to many expats -- really cares about us and worries if things don't go right with a foreign transfer. Others on the staff are good, too, for routine matters. As I mentioned, I've served as the reference for several people opening new accounts and I've witnessed them opening foreign funds accounts. It does take longer and more paperwork than Thai baht account. You need to open a Thai baht account first. If someone walked in and just wanted to open a foreign funds account and no Thai baht account, then I think they'd have a problem.

[MadMac]

I'm a little surprised the Bangkok Bank people at their main office -- if indeed you were at the big home office and not a branch in Bangkok -- couldn't work out how to do a funds transfer from the U.S.

It actually was the BKK Bank office in Huay Khwang which is one of the bigger branches. Why would I need to go to a bank headquarters to open a foreign currency account? Still a3rd world country we live in?

I know, in Chiang Mai they also tend to send people to Bangkok, but that's not because they could not do it locally, they just don't know how.

[arunsakda]

My branch of Bangkok Bank in Chiang Mai asked me for the same 8 years ago. No change.

[TheSiemReaper]

Nancy has the right of this; it took a tourist visa, a rental contract and a nice Thai co-signatory to open my account in Bangkok Bank. No other documentation required; which is as it should be according to their internal processes.

[MadMac]

Did you know with BKK Bank you can't even close an account, unless you go to the branch you opened it? . No joke, still have one from Lad Prao, zero balance for many years. Online Banking even works still. Their costs due to bureaucrazy must be skyrocketing.

Edited March 27, 2016 by MadMac

[mania]

With all due respect...

This is the kind of sensationalized thread topic titles that should not be allowed in Thai Visa

until it has been thoroughly proven. As it causes undue confusion

Those who have resided here for years know many times what one branch states is not law

but instead confusion of one misinformed worker

We also know that many times "why ask why" is standard since many of their rules make no

sense at all but this is quite ludicrous & even more hard to believe than usual

"This applies to existing customers opening new accounts as well as new customers."

So basically saying your existing account may have been opened with a fake passport but we will allow it?

But no new ones ok?

I think this title should be redone as "Branch X of BKB Claims this" until proven true.

PS: Could this be something originally directed at US Citizens for FBAR/FATCA etc?

Edited March 27, 2016 by mania

[kjhbigv]

Why would anyone go to Bangkok Bank anyway. This is the last resort if one has no other option.

Why is that?

Been with them 8 years and never had any issues at all.

I like the fact I can have a foreign currency account with them and also their Internet banking is excellent.

[NancyL]

Did you know with BKK Bank you can't even close an account, unless you go to the branch you opened it? . No joke, still have one from Lad Prao, zero balance for many years. Online Banking even works still. Their costs due to bureaucrazy must be skyrocketing.

Yes, that's right. You have to go to the branch where you opened an account to close it. When an inactive account's balance gets below a certain level, they start to charge an annual fee -- I think it's 200 baht -- and eventually the account will be wiped out. You get a letter if a big accounts sits dormant for more than a year. It's unclear to me what happens if a big account is unclaimed. I've often wondered how many 800,000 baht retirement visa bank accounts have been abandoned by foreign account holders and what happens to them.

[MadMac]

I like the fact I can have a foreign currency account with them and also their Internet banking is excellent.

Yes, one branch does this, the other that. My experience is multiple times negative, so I wont touch them with a stick again. Does not mean you could not have the complete opposite experience. TiT.

[elektrified]

Why would anyone go to Bangkok Bank anyway. This is the last resort if one has no other option.

There is nothing wrong with BBL. I've got accounts there as well as Kasikorn. The wife has accounts at Thai Pannich, BBL, Kasikorn, etc. and she favors BBL.

[elektrified]

Foreign currency accounts are getting much more difficult to open these days - at any bank in Thailand. And for example a U.S. citizen attempting to open a CHF account - forget it; those days are over. USA citizens will now be handed a U.S. tax form to sign.

[ardokano]

I'm a little surprised the Bangkok Bank people at their main office -- if indeed you were at the big home office and not a branch in Bangkok -- couldn't work out how to do a funds transfer from the U.S.

It actually was the BKK Bank office in Huay Khwang which is one of the bigger branches. Why would I need to go to a bank headquarters to open a foreign currency account? Still a3rd world country we live in?

I know, in Chiang Mai they also tend to send people to Bangkok, but that's not because they could not do it locally, they just don't know how.

To open a foreign currency account you need work permit or Show income in Thailand.

Its have some reasone.

If have foreign currency account can online send out coutry money from account.

PS

i never hear Thailand go in som military aliance as NATO.. so Yes its still a3rd world coutry..

[NancyL]

No, you don't need to have a work permit or show income to open a foreign currency account at Bangkok Bank. I've known retirees who have done it. Perhaps you do need to have a 1-year visa extension, however. They may not permit people on tourist visas to have foreign currency accounts.

[arunsakda]

Did you know with BKK Bank you can't even close an account, unless you go to the branch you opened it? . No joke, still have one from Lad Prao, zero balance for many years. Online Banking even works still. Their costs due to bureaucrazy must be skyrocketing.

Interesting. I opened my first BKK Bank account at the Thapae Road branch about 15 years ago when it was super easy. Just showed passport (visa exempt).

I did not keep the required min balance of a paltry few hundred bahts and the account had been closed when I went back. Don't recall the timeframe.

[uthaithanirules]

Lot of misinformation in this thread.

I think it has mostly to do with those bank employees knowing diddly squat

[ardokano]

No, you don't need to have a work permit or show income to open a foreign currency account at Bangkok Bank. I've known retirees who have done it. Perhaps you do need to have a 1-year visa extension, however. They may not permit people on tourist visas to have foreign currency accounts.

Ok

To open a foreign currency account you need work permit , or Show income in Thailand, or need to have a 1-year visa extension.

PS

On tourist visa( even on stamp) CAN have foreing curency account if show income in Thailand.

[NancyL]

Lot of misinformation in this thread.

I think it has mostly to do with those bank employees knowing diddly squat

I think it really has more to do with individual bank managers have much discretion over how they run their branches and who they chose to accept as customers.

And thus, how they train their staff.

[MadMac]

No, you don't need to have a work permit or show income to open a foreign currency account at Bangkok Bank. I've known retirees who have done it. Perhaps you do need to have a 1-year visa extension, however. They may not permit people on tourist visas to have foreign currency accounts.

Ok

To open a foreign currency account you need work permit , or Show income in Thailand, or need to have a 1-year visa extension.

PS

On tourist visa( even on stamp) CAN have foreing curency account if show income in Thailand.

No you don't. It's their rubbish they tell you because they don't know it any better. No Thai would ever say "I don't know" because that would mean they lose face. So the answer is "can not".

[Sparkles]

Why would anyone go to Bangkok Bank anyway. This is the last resort if one has no other option.

There is nothing wrong with BBL. I've got accounts there as well as Kasikorn. The wife has accounts at Thai Pannich, BBL, Kasikorn, etc. and she favors BBL.

15 years with BB,8 in Bangkok, 7 in CM.Never has a single problem.My 800,000 baht for extension of retirement visa is invested there. Renewing term deposit has never been a problem ,just did it,new book required each time and they supply official tax form which means I can get tax refund.

Mind you I had a Kasikorn account in Bangkok with a minimal ammount and whenIi went to withdraw it here some years later it had been used by 50 baht withdrawals eac hmonth for "non activity "charge.

[MadMac]

As Nancy wrote, it really depends on the branch and people there. No doubt some have very good experiences, mine was different. May also depend on what you expect, if it's just standard local banking it may be perfectly fine. Do they still charge these regional fees if you transfer money from e.g. BKK to CNX?

BTW, I just tried the BKK Bank iBanking, still working, the account shows now as "temporarily unavailable". There is no money on it for at least 6 years, still going strong

Edited March 27, 2016 by MadMac

[ardokano]

No, you don't need to have a work permit or show income to open a foreign currency account at Bangkok Bank. I've known retirees who have done it. Perhaps you do need to have a 1-year visa extension, however. They may not permit people on tourist visas to have foreign currency accounts.

Ok

To open a foreign currency account you need work permit , or Show income in Thailand, or need to have a 1-year visa extension.

PS

On tourist visa( even on stamp) CAN have foreing curency account if show income in Thailand.

No you don't. It's their rubbish they tell you because they don't know it any better. No Thai would ever say "I don't know" because that would mean they lose face. So the answer is "can not".

So can open foreign currency account with out : work permit, show income in thailand( tax form) 1-year extantional visa .. and only with tuariost visa or stamp?

Please tell me where can do it.

I guess it be interesting not only for me..

PS

never understan what mean lost face?

[MadMac]

I opened 2 US$ and 1 EUR accounts with UOB with yellow tabien baan/extension of stay. No work permit or income required.

UOB Sukhumvit 4 branch (Nana BTS, Motorola Building)

Edited March 27, 2016 by MadMac

[TheSiemReaper]

If you walk into a bank in Thailand; dressed smartly, with a passport and a rental contract, with a Thai (who can translate) in tow and a decent sum of money to deposit - you will have no issues whatsoever opening an account both local or foreign currency. If, on the other hand, you turn up in a wifebeater, shorts and sandals with 1,000 Baht and a tourist visa - you will be told to sling your hook 9 times out of 10.

If the bank thinks you're a decent person with large sums of money available to them - they will want your business. If they think you're an ignorant *** with no money - not so much.

It's Asia so do things the Asian way. Or don't and whine about it on ThaiVisa instead.

[MadMac]

It's Asia so do things the Asian way. Or don't and whine about it on ThaiVisa instead.

To a certain extend, but still you have that specific "Thai losing face" element.

Couple of days ago I asked in CIMB how to get a credit card. They said farang can not have credit card in Thailand. Obviously it was not in their script. So I showed them my SCB Visa and we all laughed over the face they lost .

[ardokano]

I opened 2 US$ and 1 EUR accounts with UOB with yellow tabien baan/extension of stay. No work permit or income required.

UOB Sukhumvit 4 branch (Nana BTS, Motorola Building)

sorry .. my english is poor. but i guess say simular:

To open a foreign currency account you need work permit , or Show income in Thailand, or need to have a 1-year visa extension.

Ps

Thanks for shared experience