Opening up Thai bank acct

[globetrotter]

I heard of people In the past just showing a business card from hotel they were staying at and it being accepted for proof of address but I doubt that would fly these days and I agree I don't mind paying a one off of 800 for the ATM card but the 2500 is pretty much a deal -breaker for me as well

[rxpharm]

You might also give Siam Commercial Bank a try. They use to be quite easy about opening an account, but it will probably be hit and miss nowadays, with a bit stricter enforcement of the regulations. The advantage is they have an extensive ATM network in LOS.

[globetrotter]

Thanks rx will try them as well

[globetrotter]

OK well I went to Kasikorn branch in Royal Garden , the Bangkok bank and Siam banks on Beach rd and all said the same thing about having to get a letter from Immigration because of my visa, things aren't looking too good

[soiboy]

What did each bank say about the cost of the ATM card and the insurance fee?

[globetrotter]

We never even got that far they all just said I need that paper from immigration and that was it

[Trenton42]

A few years ago I went to the big Bangkok Bank on Sukhumwit to get an account. They said I could not get one because I did not have a visa; I had a standard visa-exemption on arrival.

I argued that there must be a way because I needed the SWIFT information including account number to set up wire transfer orders *before* I got the visa. Every time they said no, I just repeated my argument. Seriously, that must have gone on for ten minutes before the clerk whispered to me that I must get a certified copy of my passport from my embassy.

At the embassy, I had to fill out a form requesting the certified copy, and wait to be interviewed by one of the farang officials. Was out of there in less than 30 minutes.

Went back to Bangkok Bank and looked for the guy I talked with before, but he must have seen me coming.

Anyway, a lovely girl helped me instead. As soon as she saw the certified copy, there was no problem.

IIRC, 130 THB for the ATM card, no mention of insurance. Turned out later that I got free insurance with the 10k THB initial deposit.

Later because I was tired of paying the Pattaya surcharge every time I used my Bangkok ATM card, went into the Central Festival branch of Bangkok Bank, showed them my passbook from the Bangkok account and passport, and they opened an account on the spot. They even filled out all the forms for me. All I had to do was sign it. 130 THB, and no insurance. Although I did get an email saying I was awarded free insurance once the account went over 10k THB.

I have two insurance policies, but have no idea what they're good for.

Just my luck they would be life insurance. Don't want to be worth more dead than alive here...

[Trenton42]

One more thing about the big Bangkok Bank on Sukhumwit: Don't bother with the tellers on the ground floor. Go straight to the service desks on the second floor.

[Trenton42]

There seems to be a strategy for the last few pages to go to small banks.

I always thought it better to go to a large bank because odds are better English will be spoken there, and one can reason with people. That worked for me when I got my account.

Also, K Bank has a really bad reputation here. Wouldn't go to K Bank for any reason. I don't even use their ATMs.

[globetrotter]

I agree about smaller more "local" locations so I kind of thought Beach rd locations wouldn't be the best places to try but was just in the area today

[soiboy]

I've been derelict in my bank account opening reporting duty the last couple of days.  Many apologies.  A day spent lounging in bed with sweetie eating fried pineapple and giving each other blowjobs, followed by a day spent at the beach with sweetie and two LB girlfriends.  (Ah, the sweet aroma of coconut oil on log legged ladyboys stretched out in the sun.)  They were good girls, so I treated them to Swensen's afterward.  It's mango month at Swensen's.  I love mango ice cream.

 

But, I digress.  Now back to the important matter of getting a Thai bank account that I don't really need.

 

I took xyzzy's advice and went to the small Bangkok Bank branch across from Pooks on Soi Buakhao.  I said to a teller that I would like to open an account.  She asked if I had my passport.  My heart skipped a beat as I pulled my passport out of my pocket as fast as I could.  She then said, "Good.  You need to go to immigration office in Jomtien with your passport to get a letter."  Arrrrgh!  Crestfallen.  I then asked about after I got the letter how much it would cost for the ATM card.  She said "300 baht, and 500 baht deposit."  No mention was made of the 2500 baht insurance fee that Kasikorn Bank wanted.

 

So, it seems that a trip to the immigration office is the next step.  I have a feeling, though, that they will open my passport and see the 30 day on arrival visa and say that that is not good enough, and that I need a non-immigrant visa.  I've run out of time on this trip, though, so that will have to wait until later in May when I am back.  If anyone goes to the immigration office with the 30 day on arrival visa let us know what they say. 

 

It seems that there were a few lucky people who squeeked through and got bank accounts as the new rules were being implemented, but now it looks like all banks are pretty well informed about the new rules.

[tel77]

well you gave it a go,its not going to be easy.

[Trenton42]

Why don't you tell Immigration that you need a bank account *before* you get a visa because you need the account information to set up Standing Wire Orders at your home bank before you can transfer money before you move to Thailand?

[soiboy]

That's an idea, but I'd rather not risk being caught in a lie since I'm not actually planning on moving to Thailand.  I'm thinking of pointing out all the 30 day on arrival visas in my passport (six in just the last 12 months) and explaining that I do have a permanent address in Thailand (using sweetie's apartment address) but can usually only spend a week or two at a time each visit, and that a Thai bank account would be very helpful to me.  Maybe they will go for it, maybe not.

[globetrotter]

The permanent address is another problem for me as I asked one of the guys if immigration would give me the paperwork with only a hotel address and he basically said no

[EyeMahk]

but I'd rather not risk being caught in a lie since I'm not actually planning on moving to Thailand.

 

Unrelated to the bank account issue ... I had to chuckle out loud when I read this.  If you're worried about lying, you're moving to the wrong country! 555  Lying in Thailand is something that is done very naturally, as it is usually for the benefit of all parties involved.

[Pdoggg]

500 baht deposit.

 

500 to open the account and 50 baht per month per month service charge after a year of inactivity if the account has less than 2000 baht. 

 

I'm not sure what constitutes inactivity as I had no deposits or withdrawals for over a year and was not assessed the service charge.  But my passbook was updated once within the year.

 

I now have over 2K in the account and want to keep it that way. 

 

Even though I don't use the account, I feel it is useful to have backups.  Could need it in the future.

[SiamSam]

Unrelated to the bank account issue ... I had to chuckle out loud when I read this.  If you're worried about lying, you're moving to the wrong country! 555  Lying in Thailand is something that is done very naturally, as it is usually for the benefit of all parties involved.

 

Tis true...

[soiboy]

I think there is some confusion.  I am not planning on moving to Thailand.

[Pdoggg]

Citibank customers "might" be able to avoid ATM charges at the three Citibank branches in Bangkok.

 

Not sure how this works or if it works.

 

http://www.citibank.co.th/en/static/Location.htm

[Trenton42]

I noticed Wells Fargo has an office in Ploen Chit.

[rxpharm]

In the recent past, most Thai banks have made it more difficult for foreigners who are not residents of Thailand to open an account (need a work permit, long stay visa, etc).

 

Bangkok Bank is one of the few remaining banks that is not quite as strict. Here are their requirements for a foreigner to open a savings account:

 

 

You can open a savings account at any Bangkok Bank branch.

Minimum Deposit 500Bt

Required Documents

For Thai nationals

• Thai Citizen ID card or another photo ID card issued by the government

For foreigners

1. Foreigner with a Work Permit

• Passport
• Work Permit

2. Foreigner with Long-stay or Tourist Visa

• Passport and one of the following documents:
  
  2.1 An official document from another country, such as a document from the 
        relevant agency giving evidence of the customer’s right to receive pension
        funds, OR a letter of reference from one of the following:

1. • • • Embassy or international organization
       • Customer’s home bank to Bangkok Bank via the SWIFT messaging network
       • Person acceptable to Bangkok Bank e.g. branch officer, customer, government officer or company executive
       • Educational institution located in Thailand and acceptable to the bank
       • Company that is acceptable to the bank, confirming the customer is in the process of getting a work permit
          

       2.2 Other documents that show the name of the customer e.g. a document
                 showing the ownership of real estate in Thailand such as a unit in a 
                 condominium

3. Foreigner with Permanent Residence in Thailand

• Passport, or Certificate of Residence, or Alien Certificate
• House Registration

 

Note that you should also apply for internet banking at the same time - and also check for minimum account balance required to keep the account active. Some banks will close an account if not active for more than x months if it is below the minimum balance.

 

 

To apply for Bualuang iBanking, either visit any ATM with your ATM or debit card, or print out an application form to take into your nearest branch.

Foreign customers registering should provide their passport and evidence of a local residential address (not PO Box or Hotel), as well as a list of accounts to be registered.

Need help? You can quickly find answers to a number of common questions about Bualuang iBanking in our Frequently Asked Questions section

[dixon cox]

I wanted to open another Thai bank account and did so about a month ago with Bangkok Bank.
 
The branch in Central Festival would not proceed as I didn't have the necessary form from immigration, so I made my way over to the Buakhao branch (opposite Pook Swan) where they set me up with an account there and then and I got my Be1st Smart Card and bank book.
 
I took with me the following; Passport, Driver's License, 12 month's worth of apartment receipts, a 3BB invoice with my address written in Thai and some money to deposit. They didn't really look at much other than my passport.
 
Because I'd had issues with Kasikorn Bank in the past I wanted to confirm a number of things with Bangkok Bank, which were; no hidden or unwanted insurance and/or costs, and how low could my balance drop before the account could potentially close. It was confirmed the low limit was B2,000 and no insurance costs would be incurred (unlike Kasikorn with their hidden insurance which I didn't even know I had).
 
So far so good.
 
http://www.bangkokbank.com/BangkokBank/PersonalBanking/Pages/Default.aspx
 

 - - - 
 
Just as a point of interest, when you add up all your ATM fees when using your home bank's ATM card in Thailand, compared to the total fees incurred for transferring money via SWIFT from your home bank to your Thai bank, the sum involved before you begin to benefit can be quite substantial. In my case, a transfer in the region of £4,000 is required before it becomes worthwhile.
 
If you plan on physically carrying cash into Thailand in order to deposit into your Thai bank account (preferably via other exchange booths) be aware that the maximum allowed (undeclared) is $10,000, or €10,000, or equivalent. Bring a bank receipt for the cash withdrawal with you for any reasonable sum is my advice, plus request bank notes of decent condition.

[Pdoggg]

 Bangkok Bank.

 

 

 

If your a Yank, you don't have to do a SWIFT transfer.

 

You can link your American bank to Bangkok Bank New York and do an ACH transfer which costs less than a SWIFT transfer.  The ACH transfer is not available with any other Thai banks.

 

With one online click I can do a transfer.  

 

So with the ACH transfer (or SWIFT transfer) you are paying a substantial one time fee.  For me it's 10 USD plus 500 baht so about 25 USD.  SWIFT fees depend on whether an intermediary bank needs to be used (if your home bank is a small bank) and for me ran about 45USD.

 

When doing the ACH or SWIFT transfer you get the TT (Telex Transfer) rate.

 

If using your Visa card in an ATM I think you get the Visa Interbank rate. 

[donnykey]

I wanted to open another Thai bank account and did so about a month ago with Bangkok Bank.

 

The branch in Central Festival would not proceed as I didn't have the necessary form from immigration, so I made my way over to the Buakhao branch (opposite Pook Swan) where they set me up with an account there and then and I got my Be1st Smart Card and bank book.

 

I took with me the following; Passport, Driver's License, 12 month's worth of apartment receipts, a 3BB invoice with my address written in Thai and some money to deposit. They didn't really look at much other than my passport.

 

Because I'd had issues with Kasikorn Bank in the past I wanted to confirm a number of things with Bangkok Bank, which were; no hidden or unwanted insurance and/or costs, and how low could my balance drop before the account could potentially close. It was confirmed the low limit was B2,000 and no insurance costs would be incurred (unlike Kasikorn with their hidden insurance which I didn't even know I had).

 

So far so good.

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/Pages/Default.aspx

 

 - - - 

 

Just as a point of interest, when you add up all your ATM fees when using your home bank's ATM card in Thailand, compared to the total fees incurred for transferring money via SWIFT from your home bank to your Thai bank, the sum involved before you begin to benefit can be quite substantial. In my case, a transfer in the region of £4,000 is required before it becomes worthwhile.

 

If you plan on physically carrying cash into Thailand in order to deposit into your Thai bank account (preferably via other exchange booths) be aware that the maximum allowed (undeclared) is $10,000, or €10,000, or equivalent. Bring a bank receipt for the cash withdrawal with you for any reasonable sum is my advice, plus request bank notes of decent condition.

 

Hey DC I have had a Kasikorn A/C since 2011 and the only charge i ever get is 250 bht each year (i suppose a/c keeping fee) and i leave only about 800 and 1000 baht in each time i leave. Never had any trouble....Hope it hasn't changed, since i have not been back since November last year.....What problems did you have ?

 

Cheers Boot