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Home » Reader question » Reader question: What is needed to open a bank account in Thailand?
Reader question: What is needed to open a bank account in Thailand?
Dear readers,
A couple of friends have been coming to Jomtien for years and now plan to buy their own condo. However, they need a Thai bank account for the transfer of the money from the Netherlands to Thailand.
We regularly read on this blog that opening a bank account in Thailand is very difficult.
What do they need to open a Thai bank account here in order to transfer the money from the Netherlands to their Thai account in order to buy a condo?
They are now here on a 30 day Visa Exemption.
Regards,
Harry
What you really need is a bank clerk to please you. If you really like the employee, then verbally stating an address in Thailand and passport is sufficient and you will be outside within 10 minutes with bank book and bank card.
Dear Harry,
This used to be done at the Kasikornbank, but this is no longer the case.
All banks now require that you have a retirement visa.
They themselves now demand from foreigners that you take out accident insurance with a cover of 100.000 baht.
Why?
Think only from a commercial point of view.
Greetings.
Completely agree and I have had an account with the Bangkok Bank for years and just live in the Netherlands. Recently when changing my PIN code from 4 to 6 digits I had to provide a Thai phone number. Got that from a good acquaintance who lives in Thailand. Indeed an employee who is at your service.
If you know someone, of course a Thai nationality, then it is a piece of cake.
We had a friend with a restaurant and it was arranged in no time.
We had then deposited an amount (I don't remember how much, it was over 16 years ago.
and since then no problems with bangkok bank and other questions were also answered or helped.
LOUISE
16 years ago it was indeed very easy.
But if you want to buy a condominium, you are an interesting customer.
I think it has been written about several times on this blog. There are no written rules. As far as I know, you need something more solid as a residence permit than a visa exemption.
Just search this blog. Furthermore, during the exchange of views on this blog, it turned out that it is rather strongly dependent on the employee you meet. But as said: just search the thai blog and you will be completely up to date.
Another comment is the following. The condo offer in Jomtien is endless. The trick is to get rid of it later. That is why it seems wise to first feel completely at home in that environment, not by being there for a few weeks, but simply longer. So rent. Dead simple, endless supply. Don't buy until you're sure. Then you have had plenty of time to open a bank account after being told no a few times. Good luck
Well. 10 minutes won't save you. You spend half an hour making scribbles. Bring your passport. Some banks consider a 30 day entry stamp sufficient. Business card from your hotel is sufficient.
That's really not the case anymore today, not for years in fact. Nowadays there are people who come to retire and want to deposit the 400 or 800k, still have trouble opening an account.
A controversial question you ask!
Unless it has changed, you can say without lying that opening a bank account in Thailand is extremely difficult, if not impossible.
I can list here a series of attempts I made years ago to open one, but unless you live permanently in Thailand you can forget about it!
Unless something has changed in the policy of the banks in Thailand in the last 5 years…
Then you obviously did it wrong.
Good experiences with Bangkok Bank and TMB bank!
Search for TikTok services Thailand
Is a young lady who has an office in Jomtien
Arranged within 20 minutes, Bangkok Bank,
Complete with E-Banking and the app for your phone is also installed
From my own experience,
Passport(s), residence address certified by the landlord, some opening money bank book minimum 2,000 Baht. No address available call me and we'll arrange something, 0878485321 office Bangkok Bangkok treppessit road, opposite the weekend evening market. If you want, we agree to go together.
Hello Harry,
I am Johan living in Thailand and married to a Thai lady. I am currently negotiating with 2 large banks with the same question for myself but also to be of service to others. If you're patient, I'll let you know the result as soon as I have it in my possession
My email address is [email protected]
Yes, just buy a condo and transfer the money from the Netherlands to the account of the Thai seller. Then there is an address and it is easy to open a bank account.
Excuse me, first the money in your own Thai account and then pay in the country office!
First check the Chanot if it is indeed the owner!!!
Then via a reliable!!!! lawyer and reasonable !!! proceeds commission.
Why buy at this time (2020) with a baht rate to cry and possibly the real estate going
tax from a certain purchase amount.
Dear,
What they need is first of all a Non immigrant visa, with a visa exemption upon entry you are not legally allowed to perform legal acts, once you have this visa you can open an account with any banking branch.
Even with a 90-day non-immigrant visa, it didn't even work in any bank. I think I've done them all. I do speak 2 half of 2019. Even need proof of immigration now to open an account. Have an account now thanks to Mot's service, a service bureau.
Hello Willy,
2 months ago I opened a bank account at Kasikorbank on Soi Buokhao for a friend who was also visiting.
It was enough a non immo and an address, so let him use my address. It is possible that one bank is more flexible than the other.
Completely agree and I have had an account with the Bangkok Bank for years and just live in the Netherlands. Recently when changing my PIN code from 4 to 6 digits I had to provide a Thai phone number. Got that from a good acquaintance who lives in Thailand. Indeed an employee who is at your service.
You can also simply buy a SIM card for 100 baht and put it in your phone!
How simple can we make it?
Many banks have been making it difficult since 2019 if you want to open an account as a foreigner.
But give it a try at the Bangkokbank on the corner of the Walking Street in Pattaya. No questions, no residential address in Thailand necessary, just bring your passport and some money.
I succeeded in January of this year quite easily and without interference from a Thai.
Dear Harry,
With the stricter rules surrounding banks - think of money laundering - it is becoming more difficult every year in every country to open a bank account as a foreigner in that country. Thailand is no exception in this regard. I have experience from 2-3 years ago, so slightly dated, when Kasikorn Bank and Bangkok Bank had the friendliest rules for foreigners without a work permit. Even then you could not open a bank account anywhere with just a 30-day visa without a fixed address, let alone now.
What things should you bring to increase your chances of opening:
– anywhere in the world you need a permanent home address, including in Thailand. Bring at least an annual visa, a rental contract and proof from immigration that you have a permanent address
– bring a reference letter from your house bank that also has a SWIFT relationship with the Thai bank. A Thai reference such as a business partner who is a client of the Thai bank is even better
– a Thai person who declares himself a guarantor also helps
– say you are willing to open a life insurance policy, because they do want a motivation to bring you in. The fact that you have a large amount for the purchase of a condo is also a good incentive
– finally the trickiest part, it depends on the local branch manager whether you finally get your bill. You have the best chance in a big city such as Bangkok or Chiang Mai
If you want to meet the above conditions, you are of course the ideal customer.
At the time, I myself, neatly dressed, entered the Kasikornbank on beach road in my holiday town Jomtien.
(My € 10.000.= first exchanged at TT Exchange, which gives a higher rate, especially with a high amount.)
Told that I wanted to buy a condo and that my bank in the Netherlands had recommended this bank to transfer the money.
NO, extra insurance is not necessary, I am already well insured.
In the meantime I put a thick suit with thousands of baht on her desk and money does wonders indeed.
That was so squeaky for me. With my Thai girlfriend there. Krungsri bank.
Harry, I arrived in Bkk on Friday and my girlfriend was there to pick me up. We stayed 1 night in Bkk and then flew on to Loei. There we went to the mall (Tesco) with a friend who picked us up. My wife entered the Bangkok bank with me and had to give my passport and ID card with the address where I was going to live, which my wife confirmed and 20 minutes later I had my bank card and account. You have to ask to activate your card to shop, otherwise you can only use it at the ATM.
There are different bank cards.
Explicitly ask for a bank card with which groceries, restaurants can be paid
AND money withdrawal at ATMs
Actually another question to which you can get many answers. The question is actually wrong. You should have asked better: Which bank has the best conditions?
Then you go to the bank that appeals to you and draw a number there. You go to the counter and only then ask what you need to open an account. In any case, take your passport and proof of residence with you.
Then you will get the only correct answer and not such answers as "it just depends on whether people like you". That's just plain cool.
In Narathiwat in 2016 it was only possible with my work permit. Only a Non-B would not have been enough.
You hear it from a Thai woman or girlfriend and it is so easy, it was the same with me, I have a 3-month non-O visa and they were not difficult at all. A lot of paperwork, but that has to do with the fact that you have to sign for everything, now I have an app on my cellphone and internet banking on the computer.
You can also open a Euro account at the Bangkok Bank if you can provide a recommendation from the immigration service that you will receive if you have a one-year retirement visa.
Your first mandatory minimum deposit is €700.
The BB can give you their information form 'Foreign Currency' about this.
Dear Harry,
Opening a bank account is the easiest hurdle to take when purchasing a condominium.
Then come farang, thai, company name, price quality ratio,
location, which floor, view (of the sea), pattaya or jomtien side, swimming pool, residents, security, service costs, transfer costs, broker, official transfer of money from the Netherlands, difference between the value at the land office and the agreed price, written bank receipts, finding a good contractor, lawyer for will etc etc..
I have successfully overcome all these hurdles myself. Helped with valuable advice from helpful people via Thailandblog. I am very grateful to all writers.
I enjoy my condo at Viewtaley 5c every day and have no regrets about this purchase.
Sincerely,
Jan S.