Cinederose Posted December 16, 2022 Share Posted December 16, 2022 Rare practical question you probably heard this one , a bank in bkk that does not require work permit , some financial online whizz with his own site told me that certain banks or branches do not care and its only a head office thing and bangkok bank Will accept proof of residence ( condo not hotel ) via an embassy instead but the embassy charges 1500 baht for this confirmation letter so that bkk bank will allow it and all the others was a flat out no , perhaps there is a branch somewhere , he swore one bank never asks and they did so perhaps its all bs , something like a union pay card that will connect to a western bank would be ok , it does not do my european bank perhaps another any ideas , looking for a new card or account here , thanks , cine :) 1 Quote Link to comment Share on other sites More sharing options...
Laawman Posted December 16, 2022 Share Posted December 16, 2022 Not sure this will be of help, but............. when I got my retirement visa through an agent, I was required to open an account with Bangkok bank first. This was 3800 but did include one year of personal accident insurance which I guess could come in handy if you ride. There is also this link to a Facebook group which may also be helpful (or not!): https://www.facebook.com/groups/PattayaExpatsClub/posts/10166853675835291 2 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted December 16, 2022 Share Posted December 16, 2022 I would suggest that you try many different banks and many branches even with the same bank. It can also vary from teller to teller. Some will only open an account for you if you agree to buy life insurance. Mot has a reasonably priced service to open an account with a Bangkok Bank branch in Pattaya. Although I have never used this service, she helped me get a Thai driver's licence. OPEN A BANK ACCOUNT. FEE 3500 BAHT Mot is able to open a Thai Bank Account for you. Even on a Tourist Visa. Fee includes 500 baht deposit to open the account and Internet Banking. Passport and proof of residence required. 2 Passport Photographs. FULL DOOR TO DOOR SERVICE AVAILABLE (PLEASE NOTE FEE FOR ATM CARD IS PAID DIRECTLY TO THE BANK AND IS NOT INCLUDED IN ABOVE FEE) https://www.mots-services.com/mots-services1 Note if you have an account in Pattaya there could be fees for Bangkok ATM withdrawals so it might be better to have a slightly higher yearly ATM fee if you can make more free out of province withdrawals. 1 Quote Link to comment Share on other sites More sharing options...
lance2546 Posted December 16, 2022 Share Posted December 16, 2022 From what I gather, navigating Thai Immigration is becoming increasingly more difficult. I opened a Bangkok Bank account in Bangkok in 2003 on a tourist visa, then converted that to a 90 day O, then to Extension of stay for Retirement. No problem opening the bank account but the teller refused to give me online access, she was just making up the rules, so I wrote the president of Bangkok Bank a letter, yeah, snail mail, and actually received a reply, advising me of course I could have online access, just return to the branch I opened the account and present this letter, which I did. Guess who I spoke with? Yeah the same nice lady that originally declined online access; she was batting her eyes and telling every one who would listen that farang had a letter allowing online access. Several managers ignored her then one said "Just do it!" in Thai. She kept the letter, 555. As PD advised, keep trying, Thai bureaucracy is remarkably inconsistent, so it's a number game. I've also done the Thai DL myself, bought and sold motorcycles and it wasn't a problem, just the time to jump through the hoops. I've had two bank accounts and two Retirement visas, now all expired and might just try for a third One thing that even a Visa Agent can't resolve is the relatively low interest rates offered now at Thai banks. I suppose one could "rent" the money from an agent. I reckon having 800k on deposit would cost me around $875 usd in lost interesting compared with a US bank. 3 Quote Link to comment Share on other sites More sharing options...
Laawman Posted December 16, 2022 Share Posted December 16, 2022 22+ years ago, savings account rates here were as high as 14%, so keeping the 800k on hand in a Thai bank was a no brainer. These days, the rates are pitiful so probably better to see an agent for the 800k and leave your money at home where you or your dependents can access it. I've often wondered what happens if you've bought a condo here and you end up dying intestate. Guess it just disappears into the ether of the Thai legal system or someone's back pocket more likely! 2 Quote Link to comment Share on other sites More sharing options...
rxpharm Posted December 17, 2022 Share Posted December 17, 2022 Inflation during those times was 18% plus, so despite the high interest for savings account, there was no net increase in your savings vs expenses. Mortgage rates were 20%+. If you are applying for a Thai visa, particularly the O type visa, a minimum 800,000 Baht must be in your Thai bank account for a set amount of months before each visa renewal or application for the O type visa. Thai bank accounts give slightly better interest rates than Canadian banks and US banks on basic savings accounts, but still not good when compared to current inflation rates. The situation is similar to 22+ years ago. 2 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted December 17, 2022 Author Share Posted December 17, 2022 Thanks guys blown away by all the answers , i might just buy a big wallet a take out some money for a couple of months as my card is in theory coming by standard mail from europe but might take longer then 30 days , i usually tell people like me to western union / moneygram themselves but no bank option sending from my based country account although paypal xoom is an option but only offering me a routing not iban option might have to go through paypal unicredit ..... My bank underwent a merger and the new app wants me to verify in person to activate , i said i am in Asia please another option so they came up with one for just me , go to the embassy and ask for a letter of authority so they send a dhl code by package for 150 euro !! A code by priority mail !!!!!, sms me wtf !!!!! An app would mean google wallet access which means sending yourself money online payments etc without the card details it just merges with the app so interesting solving problems but it would be nice to meet a crooked bank manager , or a small unknown bank , bangkok bank has a racket running as i would have to deposit the money for the embassy letter to bangkok bank in a bangkok bank account !! Sheesh thanks guys any new thoughts keep em coming :) Quote Link to comment Share on other sites More sharing options...
rxpharm Posted December 17, 2022 Share Posted December 17, 2022 Of all the banks, Bangkok Bank will regularly allow you to open an account with an official tourist visa at any of their branches. Here are the requirements for opening the account from the Bangkok Bank home page. You have to deposit a minimum of 500 Baht to get it activated. Quote For Thai nationals ID card or any government-issued photo ID card with 13-digit ID number For foreigners 1. Foreigner with a work permit Passport Work Permit 2. Foreigner without work permit Passport A reference letter issued by one of the following institutes or organizations or required document Embassy located in Thailand An overseas bank where the customer holds an account sent via SWIFT Trusted individuals such as a Bangkok Bank staff member or customer, director of a private company, permanent residence in Thailand, government or private educational institutes located in Thailand trusted by the Bank Trusted companies, e.g., an employment letter from the company if the customer is in the process of applying for a work permit. Document showing ownership of a fixed asset such as a condominium sale/purchase agreement (a condominium which is acceptable to Bangkok Bank) Or a property reservation agreement valued at 100,000 baht or more with a reference letter from the property developer that is acceptable to Bangkok Bank. Notes: Contact addresses for both Thailand and overseas must be provided (hotel and P.O. Box addresses are not acceptable). 3. Foreigner with permanent residence in Thailand Passport, Certificate of Residence, or Alien Certificate House Registration document When I applied for the account I used my girlfriend's home address and this was accepted by the bank. Note that you can do internet banking with the Bangkok Bank account once it is opened (be sure to apply for the internet access the same time you open the account as there are a bunch more forms to fill out). Internet banking allows for online bill payments, transfer of funds SWIFT wire transfers outgoing (subject to the limits of the bank and/or the account). At the time I went to the Canadian embassy for reference letter, but if you know someone who owns a registered Thai business, they can write the reference letter for you as well. 2 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted December 17, 2022 Author Share Posted December 17, 2022 4 minutes ago, rxpharm said: Of all the banks, Bangkok Bank will regularly allow you to open an account with an official tourist visa at any of their branches. Here are the requirements for opening the account from the Bangkok Bank home page. You have to deposit a minimum of 500 Baht to get it activated. When I applied for the account I used my girlfriend's home address and this was accepted by the bank. Note that you can do internet banking with the Bangkok Bank account once it is opened (be sure to apply for the internet access the same time you open the account as there are a bunch more forms to fill out). Internet banking allows for online bill payments, transfer of funds SWIFT wire transfers outgoing (subject to the limits of the bank and/or the account). At the time I went to the Canadian embassy for reference letter, but if you know someone who owns a registered Thai business, they can write the reference letter for you as well. Thats amazing thankyou i never knew about the reference letter from someone with a private company ( like my ex boss ) or my bank back in europe , i think if i go in there with enough gusto and these are my papers etc it could pass , no 1500 baht fee to my embassy thankyou - nice comment thanks :) Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted December 17, 2022 Share Posted December 17, 2022 5 minutes ago, Cinederose said: i think if i go in there with enough gusto and these are my papers etc it could pass If one branch says no, another branch might say yes. Good luck! 15 minutes ago, rxpharm said: A reference letter issued by one of the following institutes Trusted individuals such as a Bangkok Bank staff member or customer, The Bangkok Bank staff member might issue this letter if you buy life insurance. I guess agents such as Mot are trusted customers and provide a reference letter. 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted December 18, 2022 Share Posted December 18, 2022 The Thai savings account that currently has the best interest rate is the SCB Easy account. The interest rate is 1.5% on the first million baht. There is no passbook with this account which causes worry by some as to whether or not Immigration will accept this account for the purpose of holding the required 800K baht for one method of qualifying for a Retirement 1 Year Extension of Stay commonly referred to as a Retirement Visa. There have been reports that many Immigration offices do accept this non-passbook account. https://www.scb.co.th/en/personal-banking/deposits/savings-account/easy-saving-account.html Another relatively high interest account is Krungsri's (Bank of Ayudhya) Mee Tae Dai account which currently earns 0.9% interest on the first 2 million baht (1.1% on the first 100K baht). The drawback of this account is that you can only make 2 free withdrawals a month but the workaround is having a regular Krungsri everyday account paired with the Mee Tai Dai account and just make one or two withdrawals a month into your everyday account. https://www.krungsri.com/en/personal/deposit/savings-account/mee-tae-dai What's the best account? The one you can actually open! 1 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted December 20, 2022 Author Share Posted December 20, 2022 Thanks guys i would be happy for a money transfer that uses bank account details only > cash pickup but western union and moneygram etc all only use credit card as payment with my bank country account as its different region to region i guess , its either bank details to bank or card / cash to cash pick up , a business model is needed that if you cannot use your card you can pick up payment with the bare min of details you have on online banking anyway ... thanks :) Quote Link to comment Share on other sites More sharing options...
lance2546 Posted February 16, 2023 Share Posted February 16, 2023 On 12/17/2022 at 8:42 AM, rxpharm said: Thai bank accounts give slightly better interest rates than Canadian banks and US banks on basic savings accounts, but still not good when compared to current inflation rates. The situation is similar to 22+ years ago. I now have a Bangkok Bank savings account paying .5%; I can get 4.75% at a bank in the USA. On 12/17/2022 at 8:42 AM, rxpharm said: If you are applying for a Thai visa, particularly the O type visa, a minimum 800,000 Baht must be in your Thai bank account for a set amount of months before each visa renewal or application for the O type visa. Not if you use an agent 1 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted February 16, 2023 Share Posted February 16, 2023 On 12/20/2022 at 7:31 PM, Cinederose said: western union I inquired at a Krungsri Bank kiosk that has an arrangement with Western Union about a Thailand to Philippines transfer. The big advantage is that you can pay in baht in Jomtien and have pisos delivered quickly to the Western Union pickup location in the Philippines. The downside is the truly horrendous exchange rate used. I guess some guys just look at the 99 baht fee and don't realise that they are getting fucked up the ass without any butter. That said, it could be useful in an emergency situation if someone really needs cash. Also useful for extremely small transfers in which the exchange rate ripoff is not all that meaningful. Also useful if you don't have a bank account. 2 Quote Link to comment Share on other sites More sharing options...
Woodie Posted February 16, 2023 Share Posted February 16, 2023 4 hours ago, Pdoggg said: without any butter. Can't say that I have ever used butter! 1 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted March 8, 2023 Author Share Posted March 8, 2023 On 2/16/2023 at 7:07 PM, Woodie said: Can't say that I have ever used butter! Marlon Brando did in last Tango in Paris , then it took off :) 1 Quote Link to comment Share on other sites More sharing options...
rxpharm Posted July 19, 2023 Share Posted July 19, 2023 I know this is an older thread, but I have an update to report. My Bangkok Bank customer service representative told me that 3 months ago a new law was passed the makes it mandatory any foreigner wishing to open a Thai bank account would require a residence visa. This only applies to new accounts. If you do have an existing Thai bank account and are a non-resident, be sure not to let it lapse, as you will need a residence visa to open a new one. Also this complicates things if you have any fixed deposit accounts, as you cannot change it without having a residence visa. 2 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted January 27 Author Share Posted January 27 On 7/19/2023 at 5:32 PM, rxpharm said: I know this is an older thread, but I have an update to report. My Bangkok Bank customer service representative told me that 3 months ago a new law was passed the makes it mandatory any foreigner wishing to open a Thai bank account would require a residence visa. This only applies to new accounts. If you do have an existing Thai bank account and are a non-resident, be sure not to let it lapse, as you will need a residence visa to open a new one. Also this complicates things if you have any fixed deposit accounts, as you cannot change it without having a residence visa. you can obtain at paper from from some embassies for 1900 thb paid into their Bangkok bank account , that cirumvents all of these laws , its a racket that some of the embassies and only Bangkok bank are pulling :) Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 28 Share Posted January 28 6 hours ago, Cinederose said: Bangkok bank If one is on a 30 day visa exempt stamp it can be very difficult to get a Thai bank account. However there are some visa agents who for a fee and get accounts for people on 30 day visa stamps. 1 Quote Link to comment Share on other sites More sharing options...
Zeppie Posted January 28 Share Posted January 28 13 hours ago, Pdoggg said: If one is on a 30 day visa exempt stamp it can be very difficult to get a Thai bank account. However there are some visa agents who for a fee and get accounts for people on 30 day visa stamps. Is it worth it to try and get bank account, if only there for 30 days.......Is there a major benefit? 2 Quote Link to comment Share on other sites More sharing options...
rxpharm Posted January 28 Share Posted January 28 The answer depends on you. Do you have plans to retire in LOS someday? Then the answer is yes. How many times do you plan on visiting the LOS a year? If several (3 or more), there are some benefits to have a Thai bank account. You get a Thai debit card which allows you to withdraw and make payments as long as you have funds in your account. By doing a wire transfer to your Thai bank account, you get better exchange rates - or you can bring your foreign currency, exchange it and deposit to your account when you arrive. If the answer to both of these is no - then it is not a good idea to open a Thai bank account. 2 Quote Link to comment Share on other sites More sharing options...
Zeppie Posted January 28 Share Posted January 28 LOL.......if you answer yes to the above......then you might me a LB lover............lol Thanks, appreciate your input. 1 Quote Link to comment Share on other sites More sharing options...
Cinederose Posted January 30 Author Share Posted January 30 Wise is the best , 100 proxy accounts in your name , so i guess i have a thai account and a bunch of others , i mean i can send money in baht to western union us in usd , and phone number change no problem which if you are in Asia can be a problem with banks , reception networks and suddenly no access to your funds in a remote region So i love Wise , three virtual card generator for Wu and hotels and they pay my salary into what account its based in , its always a game trying to stay alive in Asia , google pay has its moments also :) Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 30 Share Posted January 30 2 minutes ago, Cinederose said: i can send money in baht to western union us in usd You can also send baht from Thailand to dollars in the USA using Dee Money. They are on the corner of Sukhumvit and Soi 8 and their customer service reps can walk you through the process. They are open 7 days a week from 10 AM to 7PM. 1 Quote Link to comment Share on other sites More sharing options...
Zeppie Posted January 31 Share Posted January 31 That's a lot to comprehend, for this feeble minded american.........im not dumb, but i am slow..... Quote Link to comment Share on other sites More sharing options...
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