Opening A Bank Account

[monkeyofdoom]

Hi, I want to open a bank account. I have heard good things about Siam Commercial Bank, so I want to open my account with them. I tried the branch at Kad Suan Kaew, but they quoted a rule that since November 2006 has not allowed tourist visa holders to open bank accounts. They seem to need a work permit. Searching the messageboard, I can see that in the past, some people have reported wildly varying experiences opening bank accounts. Since this seems to be a recent development, I'd very much like to hear from anyone who has opened an account recently, or anyone who has advice. Thanks a lot! :-)

Makes you wonder... a guy comes up to you, says "Here, keep this money for me. I'm a tourist, by the way." What's the worst thing that could happen? Guy runs away, leaving you with his money? The horror!

[calibanjr.]

Try the branch at Central Airport. I had gone to BKK Bank, to open one, and they spouted something about needing a Thai to sign some guarantee paper, went down to SCB and they said Mai Pen Rai.

[wadsy]

I opened an account with the Kasikorn Bank in Chiang Mai on a tourist visa no problems. (That was in November) My g/f does have her accounts there as well so maybe that helped?

[meadish_sweetball]

Dress nicely, act polite and quietly confident. A no is only a no at one particular office. If one does not work, try the next. For convenience, try the ones in your neighbourhood first. In Bangkok it seemed the busier branches and the ones in the major tourist areas were less likely to do it, whereas local offices might think differently.

[monkeyofdoom]

Thank you people, I will follow your advice and hope for the best. Otherwise I guess I'll just have to wait until I get a WP...

[itsgottabedone]

The SCB on Ratchadamnoen Road are more relaxed. I opened an account recently, paid in 10k and they gave me a passbook and debit card straight away. The whole thing took less than 10 mins.

[Ajarn]

I'm of the opinion that some banks don't want to deal with anyone 'strange' as far as the newish currency and tax laws happening. First, a tourist visa is, by nature, temporary, unlike other visas. Second, if you have a work permit, then you are more likely to be tax payer. At Kasikorn Bank, they have a policy of 'fining' you 15% on any interest that you've gained, if you don't have a work permit. I'd imagine that some banks would rather not deal with farangs complaining about it...

I've also found that if you have a Thai Tax ID, this can be used in place of the work permit at a bank. Anyone can get a tax ID simply by going to any tax office and filing out a form...

Edited January 2, 2007 by Ajarn

[chownah]

I went to a Bangkok Bank in Bangkok and had my girlfriend (soon to be wife) ask someone there about me getting an account and they said I couldn't....so....I asked my girlfriend to translate what I said to them ( she was resistent to this but went along with my idea) .....so I said to them that although I did have a tourist stamp but that I came to Thailand every year and spent more than a month here and now I was going to be living in Thailand and needed to bring money into Thailand and make it easier to get more money to spend and wasn't there some simple account with an ATM card that I could use to do this.......and they then said sure, no problem sit down and fill out the form......I really don't know why it worked for me but not for my girlfriend.....same bank, same day, same person....perhaps the "I need to bring more money into the country" was what did it.

Chownah

[terrymor66]

Just opened a savings account at Bangkok Bank at Kad Suan Kaew Branch. I still only have the 30 day visa stamps...( next week I get the non-imm o ). They said no problem, just need to show my passport and have my wife sign with me. Gave me my passbook, Visa/Debit card a nice little card with the Bank info...swift code and routing #'s. And I got a wall clock also ,and 0.75% interest

easy to do and no hassles

[Ta22]

go in in rag . and slipper , accidentally drop a stack of 50k large on the floor Pick it up &

chuck the stack of money on the table and ask if you can open an account whahhahhahaha

t

Edited January 9, 2007 by Ta22

[Ta22]

i got mine done at 3 different bank ,

siam commercial . thai famer , and UOB

UOB gave the best exchnage rate

SIAM is easy for money tranfer and the service is good and short Q

Farmer is everywhere .

.

seriously try a few place big smile and lot of cash really help .

- all i did is a copy of passport that all

[CobraSnakeNecktie]

Just opened a savings account at Bangkok Bank at Kad Suan Kaew Branch. I still only have the 30 day visa stamps...( next week I get the non-imm o ). They said no problem, just need to show my passport and have my wife sign with me. Gave me my passbook, Visa/Debit card a nice little card with the Bank info...swift code and routing #'s. And I got a wall clock also ,and 0.75% interest

easy to do and no hassles

I got an account at BKK at Kad Suan Kaew also on 60 day Tourist Visa. No problems as they just wanted to see my passport and did not look at my visa page at all. Good location too.

[monkeyofdoom]

Well guys, I tried at the SCB branch at Central Airport, but no luck. I tried this way and that, was dressed politely and acted politely, but it came down to this: You need a work permit or a visa valid for at least three months. It's a government rule that was instated on the 22nd of December 2006 and includes all banks in Thailand. They're simply not allowed. There may be banks where they don't know the rule or decide to mai pen rai it, but at SCB they seemed pretty adamant.

I tried explaining that I live in Thailand, am going to start a business and would be able to show them a WP later, that I'd most likely do my business banking with them as well if they gave me an account now, etc. I guess I'm just not persuasive enough.

I suppose I could try Bangkok Bank, but SCB seems better to me.

[Greenside]

Yesterday I tried and failed to open an account at all three banks at Central (BKK, Krungthai and SCB) but solved the problem this morning by going to:

Kasikorn Bank

Thanon Moonmuang Chiangmai Branch

205/3-6 Moonmuang Road

Tel 053 218210

Asst. Manager: Joy

It's near soi 7 on Moonmuang Road and they couldn't have been more helpful. Didn't even look at the visa page and said they'd be happy to write any letters for immigration that I might need - ten minutes later I had a passbook stocked up with money from a UK credit card and an a K Bank ATM card.

I would have preferred a more convenient location but I'll bet it's easier to change once you've got one. I said I'd send any friends in the same situation to see them!

[Ajarn]

Yesterday I tried and failed to open an account at all three banks at Central (BKK, Krungthai and SCB) but solved the problem this morning by going to:

Kasikorn Bank

Thanon Moonmuang Chiangmai Branch

205/3-6 Moonmuang Road

Tel 053 218210

Asst. Manager: Joy

It's near soi 7 on Moonmuang Road and they couldn't have been more helpful. Didn't even look at the visa page and said they'd be happy to write any letters for immigration that I might need - ten minutes later I had a passbook stocked up with money from a UK credit card and an a K Bank ATM card.

I would have preferred a more convenient location but I'll bet it's easier to change once you've got one. I said I'd send any friends in the same situation to see them!

In my exprience, all Kasikorn banks are the same, so why didn't you go to a more convenient branch??

[ovenman]

I would have preferred a more convenient location but I'll bet it's easier to change once you've got one.

Once the account is open, what difference does it really make? The only reason you might need to return to that particular branch is when you need a new passbook.

[Greenside]

In my exprience, all Kasikorn banks are the same, so why didn't you go to a more convenient branch??

'Cos I didn't have your experience.

[ProThaiExpat]

I was in my SCB branch this week and asked my usual English speaking lady about savings accounts for tourists.

She informed my that it was SCB policy that they choose not to open a savings account for a customer if they can expect the account to be closed or go inactive within three months, the usual tourist visa length.

HOWEVER, if the potential customer can show that they intend to stay in Thailand for longer than three months or show that they will be returning for additional periods of stay, then the type of visa is irrelevant, it is the showing of long stay that they pay attention to.

We discussed the situation of a person who intended to retire in Thailand but was still at the tourist visa stage as being a most welcome customer.

Your own imagination regarding what is convincing evidence of your future intentions for long stay controls here. If your intending to start up a business, all that you have done in a concrete way to accomplish this would be very persuasive, in my view.

Edited January 13, 2007 by ProThaiExpat

[johnnyk]

I had no pompem at K-Bank in Hua Hin.

Showed my passport but the man only looked to see if the mug shot looked like me and if the signature matched. He didn't look at any of the stamps at all. He was obliging and helpful and spoke English quite well.

I'm quite happy with K-Bank both in branch and on line.

[pgs]

Moderator (or whomever sets the forums up), this topic appears in so many places, perhaps it should have its' own run under a Finance category? Common tax issues could also listed there.