opening a thai bank account

[spug 2]

Hi

I was wondering if it was possible to open a thai bank account, deposit my cash and get a atm card, so there is no chance of getting my cash lost or stolen.

Is this possible?

Regards

Spug

[joekicker 53]

Yes.

 

There are two, three very recent threads on this. Go along to a bank with your passport and a card from your hotel. If the first bank says "no" go to the next one. Technically you cannot open an account, in reality you can.

 

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[MM 6,562]

Yes.

[Sanget 26]

Kasinkorn Bank is where I have my account. No problem. I went to the office on Pattaya Klang just east of 2nd Road

[Wannabe 2]

Not to hijack the thread, but, is it possible to open foreign currency accounts as well? Or, are only baht accounts available to foreigners in Thailand?

Edited January 8, 2012 by Wannabe

[bigmick 840]

Not to hijack the thread, but, is it possible to open foreign currency accounts as well? Or, are only baht accounts available to foreigners in Thailand?

 

I opened a foreign currency account at SCB and i had to have a letter from immigration to do so. There are some terms and conditions etc, but generally you can. You will find a varying difference from bank to bank, e.g some banks will want a minimum amount to open the account but SCB was the winner for me with the lowest commision on exchange.

[Wannabe 2]

Thanks, Mike.

[bigmick 840]

Thanks, Mike.

 

Go the SCB along 2nd rd and look at the two really fir looking girls who work on the desks, ask for Bic, she is really fit, long hair and very good at her job in the bank, she opened my foreign currency account. Let me know what you think of Bic and Pui lol

[lovedog100 1,372]

I opened my SCB account on beach road. The were a bitch to work worth. They started off saying that I couldn't open an account. Then said that I had to have a work permit or a letter of residency from immigration. I showed them the form for required paperwork for a retirement visa. One of the requirements is a Thai bank account with at least 800,000 baht in it. I then explained that I couldn't get a letter of residency until I had a retirement visa, and couldn't get the visa until I had a bank account. The branch manager came over and acted like she was going to bend rules to do me a favor and allow me to open an account. I went with SCB because their ATM's work when the others don't. After hearing how easy others have had it in other banks, I wouldn't recommend anyone going there. Maybe it was a one branch thing, I don't know. If I had it to do over, I'd go with K bank. Everyone I know using K bank are happy with them.

[Mescalito 19]

Mine's with Kasokorn Bank; opened it with a cash deposit (in baht), my passport, and the GF's home address as mine. Got an ATM card and an on-line banking access. Easy as could be. I wish Bank of America here in the US was as easy to deal with.

[Regyai 415]

I opened my SCB account on beach road. The were a bitch to work worth. They started off saying that I couldn't open an account. Then said that I had to have a work permit or a letter of residency from immigration. I showed them the form for required paperwork for a retirement visa. One of the requirements is a Thai bank account with at least 800,000 baht in it. I then explained that I couldn't get a letter of residency until I had a retirement visa, and couldn't get the visa until I had a bank account. The branch manager came over and acted like she was going to bend rules to do me a favor and allow me to open an account. I went with SCB because their ATM's work when the others don't. After hearing how easy others have had it in other banks, I wouldn't recommend anyone going there. Maybe it was a one branch thing, I don't know. If I had it to do over, I'd go with K bank. Everyone I know using K bank are happy with them.

 

 

 

 

 

Branch idiocy abounds with SCB

 

Had a similar exercise in stupidity in their (then) new Naklua Branch, after two loops of the same circuitous argument I bailed, flipped a U-turn and back to the big second road Branch (with the car park) where conversely got the regal treatment, all sorted double quick and painless complete with complimentary umbrella!

 

in the years since then the account has done exactly what it says on the box - flawlessly

 

 

 

 

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Edited January 9, 2012 by Regyai

[teelack 9,636]

Mine's with Kasokorn Bank; opened it with a cash deposit (in baht), my passport, and the GF's home address as mine. Got an ATM card and an on-line banking access. Easy as could be. I wish Bank of America here in the US was as easy to deal with.

 

How long did you have to wait for the ATM card and the account being active?

[bigmick 840]

I have a Bangkok Bank account, it was easy and i go the ATM cards that same day, you do pay 200 baht for the card. I have internet access and Bangkok Bank also have branches in the USA.

[DP Gumbypgh 97]

I first opened a Kasikorn account 18 months ago on a tourist visa to get ready for retirement visa/extension, very easy and no complaints about them. Got the retirement extension with letter from bank. Without warning TDAmeritrade stopped doing business with Thai banks and would not wire transfer money to my Kasikorn account. This forced me to open an account with the Bangkok Bank, very easy when you have a thai driving license as ID. They have a New York branch which allows ACH transfers (these are similar to wire transfer but cheaper and take two to three days instead of being next day) They also have a London branch which can do the same with swift type transfers.

Comparing the two banks:

Bangkok is cheaper per year and has less fees when transferring money from the USA.

Kasikorn's Internet banking is better and also allows you to top up your phone easily.

Kasikorn has many more ATM's in Pattaya than Bangkok Bank. This is not much of a problem now that you are allowed to use other banks ATM's four times a month without charge. It's only 20 baht per withdrawal after that.

Bangkok Bank is also the only bank that USA Social Security Pension's can be sent to when you are eligible.

Overall Bangkok bank is probably a better one to open an account at if you can meet all their requirements.

[Idefix 2,275]

Not to hijack the thread, but, is it possible to open foreign currency accounts as well?

Or, are only baht accounts available to foreigners in Thailand?

 

There are rules/condition to get foreign currency accounts in (most) Thai banks.

Very often they ask for a Work Permit or Residence Permit.

I asked and get such accounts thought ($ et €), at KasikornBank,

without these requirements, but I was a client for several years already.

http://www.kasikornb...entAccount.aspx

[bigmick 840]

There are rules/condition to get foreign currency accounts in (most) Thai banks.

Very often they ask for a Work Permit or Residence Permit.

I asked and get such accounts thought ($ et €), at KasikornBank,

without these requirements, but I was a client for several years already.

http://www.kasikornb...entAccount.aspx

 

If you dont have an existing account, a letter of residense is sufficient from immigration to open a foreign currency account. You may need the letter of residense to open the existing account also, but some recent posters have been able to open an account without the letter. Bear in mind, each bank has its own figure of how much money you need to have (foreign) to open that account. I used SCB as they said "none" at the time of opening the account. Bangkok bank said $5000. So ask questions if you are looking into this as they all had different costs involved in changeing your money also.

[joekicker 53]

I opened my SCB account on beach road. The were a bitch to work worth.

 

FWIW, over quite a few years, I think you are being kind to this bank. When possible, steer clear. I think it's the owner that makes them that way, but whatever... they don't get many customers because of their friendly, helpful service.

 

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[joekicker 53]

Bangkok is cheaper per year and has less fees when transferring money from the USA.

 

Yeah, it's sometimes useful to know that all personal foreign transfers go through Bangkok Bank, so if you deal with them, you just make the one payment. Other banks generally put on BBL payment AND theirs.

[js007 795]

FWIW, over quite a few years, I think you are being kind to this bank. When possible, steer clear. I think it's the owner that makes them that way, but whatever... they don't get many customers because of their friendly, helpful service.

 

.

 

I opened an account with SCB on Beach Road about five years ago. No questions asked. The girl that opened my account seemed friendly enough. She just wanted to see my passport. Currently, I use Kasikorn Bank. Again, no problem opening an account.

[GlynRhedyn 32]

Kasinkorn Bank is where I have my account. No problem. I went to the office on Pattaya Klang just east of 2nd Road

That's where I opened mine, opposite corner to Tukcom, same side of road. Took about 20 minutes and cost 300 baht for the ATM card if I remember correctly.

How long did you have to wait for the ATM card and the account being active?

You are given the card in the 20 minutes it takes to open the account and it is live, I then deposited money in the account and could withdraw using the ATM immediately if I wanted.

Glyn.

Edited January 9, 2012 by GlynRhedyn

[teelack 9,636]

That's where I opened mine, opposite corner to Tukcom, same side of road. Took about 20 minutes and cost 300 baht for the ATM card if I remember correctly.

 

You are given the card in the 20 minutes it takes to open the account and it is live, I then deposited money in the account and could withdraw using the ATM immediately if I wanted.

Glyn.

 

Thanks Glyn. I have been waiting for someone to state all of that in 2 sentences for seemingly years.

 

One other point please, other than ATM fees (what are they please) are there any other fees loaded onto the account over the year?

[jacko 8,813]

I opened my SCB account on beach road. The were a bitch to work worth. They started off saying that I couldn't open an account. Then said that I had to have a work permit or a letter of residency from immigration. I showed them the form for required paperwork for a retirement visa. One of the requirements is a Thai bank account with at least 800,000 baht in it. I then explained that I couldn't get a letter of residency until I had a retirement visa, and couldn't get the visa until I had a bank account. The branch manager came over and acted like she was going to bend rules to do me a favor and allow me to open an account. I went with SCB because their ATM's work when the others don't. After hearing how easy others have had it in other banks, I wouldn't recommend anyone going there. Maybe it was a one branch thing, I don't know. If I had it to do over, I'd go with K bank. Everyone I know using K bank are happy with them.

I would not have been so persevering, considering Bangkok Bank seemed very happy to give me an account. (Work.......????)

I was also put off SCB because there always seems to be a Q at the ATMs at BigC South where I often shop, and once when I used one of their machines they limited my withdrawal. Surprised you feel their ATMs work when others don't...can't say I have had many problems with BB ATMs. Now Aeon machines often seem to be out of order, all those damned 'in the know' expats trying to save 150 baht.

I agree about Kasicorn, hearing a lot of positive statements regarding their service.

[bigmick 840]

I would not have been so persevering, considering Bangkok Bank seemed very happy to give me an account. (Work.......????)

I was also put off SCB because there always seems to be a Q at the ATMs at BigC South where I often shop, and once when I used one of their machines they limited my withdrawal. Surprised you feel their ATMs work when others don't...can't say I have had many problems with BB ATMs. Now Aeon machines often seem to be out of order, all those damned 'in the know' expats trying to save 150 baht.

I agree about Kasicorn, hearing a lot of positive statements regarding their service.

 

Jacko, did you know that you will have a ATM withdrawal limit and a spend limit on your accounts, dont matter what bank you are with. You got to go into the bank or on line to increase them both

[Idefix 2,275]

You got to go into the bank or on line to increase them both

You can't increase the limit defined in the ATM: usually 20 or 25 notes max.

Then 25,000 baht max, but you can play again

[MM 6,562]

You can't increase the limit defined in the ATM: usually 20 or 25 notes max.

Then 25,000 baht max, but you can play again

 

I know you know what you mean, Idefix, but just to be clear for others:

 

You can increase your daily withdrawal limit, but you can't increase the amount that the ATM is capable of giving you for each transaction. That is limited by the ATM itself. To withdraw 200,000 THB on an ATM that will output a maximum of 20 1000THB notes, you'd have to run your ATM card through the machine 10 times.