tourist bank account thailand

How to Open a Thai Bank Account: Choices, Requirements, Reader Experiences

If you're working, retiring, or frequenting Thailand then it makes sense to have a bank account.

Because using foreign credit and debit cards involves high fees, on top of local ATM charges. And then there's the frustration of cards being rejected by ATMs.

Opening a Thai bank account isn't the same process at every bank. There are different requirements for each. I tried at least five different branches of different bank brands before I had success in opening an account.

What struck me was that quite often the bank staff cited different requirements to that on the bank's website.

When I did cite the requirements stated on the website, I was told that “things had changed”, or “the manager said…”

So I figured others must be struggling too and decided to write this article to help other foreign nationals, like you.

My Current Banking Arrangements

My thai bank account.

Since writing the first version of this post, hundreds of people have reported their experiences of opening bank accounts in Thailand, making this post a solid resource for others wanting to do the same.

I still bank with Bangkok Bank, with a debit card, with access to Bualang online banking .

The online banking was set up for me at the ATM of the branch where I opened the account.

The ATM card was issued on the spot, for a 300 Baht fee, and I've had to replace it once due to wear and tear.

Transferring Money

I now regularly transfer money to my Thai bank account via Wise.  This is an international money transfer service, and usually the cheapest option.

Using this means I can avoid the sending and receiving bank charges and inflated currency conversion fees involved in money transfer.

It feels so good to beat the banks!

+ Read more about that here

Multi-Currency Account

I also have a Wise account, which, by the way, is a great option if you don't want to open a Thai bank account, or need a pre-move banking solution until you are able to set one up.

This account lets me hold money in different currencies (GBP, USD, Euros, whatever) and then convert the money to THB whenever I like. I can do this at a time when the exchange rate is favorable.

Or, I can allow the currency conversion to take place in real time as I spend money in Thailand on the debit card (MasterCard), which is issued with the account.

If you are someone who has a regular income paid in a one or more currencies, this is a good solution for getting paid into an account that you can readily access in Thailand.

+ More on this type of account here

So I have my Bangkok Bank card, my TW Borderless card, and my home bank cards – which I never really use.

How to Open a Thai Bank Account

Things are a hell of a lot easier in Thailand when you have a Thai ATM card and an account to transfer money into.

But despite the permission to stay you have, be it a retirement visa, work permit, or Non Immigrant O Visa based on marriage, opening a bank account can be frustrating.

Indeed, I've heard from people on tourist visas who've had less hassle opening an account than someone on a long-stay visa who is married to a Thai national.

So before you trudge around town and get frustrated as hell, read this post and see which bank is most likely to work best for your situation.

What you'll find below is the requirements for each bank, and a summary of reader experiences reported in the comments section.

Since starting this post many moons ago, it seems that the overwhelming consensus is that Bangkok Bank is the most friendly bank when it comes to opening accounts for foreigners.

The easiest, however, may very well be K-Bank, depending on the branch.

There's a bit of a gap in 2019/20, where, because of COVID-19 not many foreign nationals were opening bank accounts, but you'll see some recent experiences starting in late 2021 and some new ones for 2022.

1. Bangkok Bank

Requirements:.

• Passport and one other official identification document: for example, a reference letter from your embassy, your home bank or a person acceptable to the bank.
• You will also need to provide evidence of your address in Thailand as well as your regular address in your home country.
• UPDATE: In some cases Bangkok Bank is now asking for a certified letter from your Embassy. This letter must state that you have presented your passport to the Embassy, and that it is indeed your passport. Depending on the Embassy cost will be between 1150-1750 Baht)

If you have a work permit, are a permanent resident, or hold a long-stay visa, you can apply for a wider range of services such as a cheque account, internet banking and online international funds transfer services.

I opened my account with my passport, Non Immigrant O visa and my driver's license. This got me internet banking too. This was done at the Exchange Tower branch in Asoke, Bangkok. The rule regarding a letter from the embassy was not in place when I opened my account.

Reader Experiences:

• (2020) Alex opened an account in Khon Kaen with a Dutch marriage statement, his identity papers, Thai wife's ID card, and a written guarantee from his wife.
• (2020) At the second branch he tried in Isaan, John opened an account with passport, original marriage certificate, Thai wife's Tabien Baan, and drivers license (Thai and Australian).
• (2021) Sebastian was able to open an account at Bangkok Bank (Central Embassy Branch) with the following documents:- Passport – ED Visa – Acceptance letter from Thammasat University – 500 THB opening deposit
• (2021) John managed to open a Bangkok Bank account at Lotus’s Branch Thalang (Phuket) with a Tourist Visa, UK Passport and a letter from immigration (300 Baht.)
• (2022) Nishan opened an account on a Tourist Visa in Phuket (Patong) with a passport and letter from immigration. He got an ATM card, mobile banking, but had to take out a life insurance policy for 7,900 Baht.

2. Kasikorn Bank (K-Bank)

Individuals who have base in foreign countries:

• Work permit or education-based visa (seems these are not required at every branch)
• (2019) Anthonin opened an account at Pantip Plaza Pratunam with his passport, an address in Thailand, and a confirmation letter of internship.
• (2021) Phil opened a bank account with his passport and UK driving license. He was set up with telephone banking, mobile banking.
• (2021) Reetus opened an account at Kasikorn Bank Central Festival Pattaya with his passport (ED visa) and a letter from his language school. The ATM card was issued on the spot.
• (2021)  Justin was able to open an account with Kasikorn at the Thanon Sri Nakharin branch, across the street from Paradise Park in Bangkok, using his education visa (technically an education guardian visa). He also showed them his townhome lease.

3. UOB Bank

Individual Non-Resident Account:

• A copy of passport
• A copy of work permit (seems this is not always required, depends on the branch)
• 50,000 Baht deposit
• Phone number
• Danny opened a UOB account with a passport, phone number, proof of address and 50 000 baht. He g ot a bank card on the spot.
• (2021) Sebastian also opened an account with UOB Thailand to have an alternative. They  required the following:
• Passport – ED Visa – Acceptance letter from Thammasat University – A 50,000 THB opening deposit, which can be immediately withdraw after opening the account.
• A work permit and passport are required to open an account.

Non-Resident accounts are for:

• Branches or representative offices of Thai corporations established in countries outside Thailand.
• Tourists and other overseas visitors.
• Foreigners temporarily working in Thailand.
• Foreign government agencies, including embassies, consulates, or specialized UN agencies such as ESCAP, FAO, UNICEF, etc.
• International organizations or institutions located in Thailand, but established by the government of the country to which such organizations belong.

Note:  The implication is that any non-resident can open an account.

• Scott opened a SCB savings account at the Tesco Lotus Fortune Town branch, with nothing but a passport and money to open the account. He had previously tried at the Central Rama 9 branch and failed.

5. Bank of Ayudhya (Krungsri)

At least one or more of the following:

• Work permit
• Condominium Lease Agreement (at least 1 year)
• Thai Driver’s License
• House Registration Documents (proving you live in a particular house)
• A Thai wife’s ID card and Marriage Certificate
• Joe opened a bank account (with a debit card) with just his passport on Sukhumvit Road (near Robinsons, between Nana and Asoke BTS stations). He showed his Non-Immigrant O-A visa (retirement visa). He used his girlfriend's address, but they did not require evidence of this. The visa card cost him 350 Baht.
• (2019) Tim opened a savings account with Krungsri (Onnut branch) with a 1-year lease contract for his condo and his passport.
• (2019) ASDF opened an account at Central Festival in Phuket. only a work permit was required.
• Citizen ID card or passport (for foreigner)
• Savings account book or Current account number

Applicant Qualification:

• The applicant must be aged 15 or over.
• The applicant must own an individual savings and/or current account or a joint account that authorizes either owner to withdraw cash or a merchant account with single account owner.
• Other terms and conditions are as specified by the Bank.
• Theo opened a CIMB Thai bank account using his friend as guarantor. Only his passport was needed and his friend's contact details, address, etc.

7. KrungThai

• For foreigners: Passport, alien certificate, work permit issued or endorsed by any credible organization or visa which is valid for at least 3 months.
• For international students: Passport and student certificate issued by school/college.
• John   was able to open a KrungThai savings passbook account in Chumphon. He used his passport and Non-Immigrant O visa.
• JP opened a savings account at Krung Thai on his Non O marriage visa, and also one at the SCB branch in Kalasin, which only required his passport and a deposit.
• (2018) Robert opened an account at Kuung Thai in Sattahip, with passport and address information.

How to Transfer Money to Your Thai Bank Account & Avoid Fees

Once you have opened your Thai bank account, you'll want to start transferring money into it from your bank in your home country.

Unfortunately, this can be a costly process, especially if you are transferring money every few months, or even more frequently.

Your home bank (the sending bank) will change you a fee of between $10-20, and the receiving bank will charge you around $10.

In addition, you will be charged a currency conversion fee – because the banks don't give you the mid-market rate, but instead a rate they decide on.

So, on $1,000 or £1,000, you could be looking at saving $50 or more in fees.

The good news is that you can avoid these fees using a great service that I've used for many years now.

+ Find out more here

Transferring Money Out of Thailand

So that's the best way to transfer money in, but what about transferring out?

if you want to know the best way to send money from your Thai bank account to an account overseas, check out this post for a run-down of all the options.

——

Share Your Experience & Help Others

It would be great if you can let me know what bank account you have and on what terms you acquired it.

This will save other readers time and hassle, and help them find the most “farang-friendly” branches, so to speak. I will then add the information to the list below.

More Tips for a Better Life in Thailand

Improve your thai skills:.

Learning Thai makes life here easier and more fun. I use Thaipod101 . It is free to get started & easy to use.

Get Good Health Insurance:

Start with a quick quote from Cigna . Then compare my other recommendations here .

Protect Your Online Privacy:

A VPN protects you against hackers and government snooping. I always use one. You should too. Read why here .

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Last Updated on July 19, 2022

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How to open a bank account in Thailand: a guide for expats and tourists

Published by damian sowa on 5 october 2022 5 october 2022, why do you need a thai bank account.

If you are in Thailand for a short Holiday only, you probably don’t need a Thai bank account, but if you are planning to stay longer, the local account could be pretty useful. Every time when you use a Thai ATM with a foreign card you need to pay a 200 / 220 baht fee to the ATM owner.  Additionally paying by card is not that popular in Thailand, instead, many places accept payment with QR codes, and the most popular standard of them is PromptPay, which can be used with mobile apps from Thai banks. Additionally, all local transfers are much cheaper and easier with a local bank account.

Which account to choose?

The choice of Bank pretty much depends on the visa type. The good thing is that one bank allows opening a bank account on a tourist visa (with some additional documents) rest don’t allow it to open for tourist visa holders. A few banks allow quite easy opening of a bank account for working/student visa holders, whereas the rest only accepts people with working permit in hand. You can read some stories that someone just walk around many bank branches and managed to open a bank account with a passport only, of course, it is possible, but I asked in around 30 places in Bangkok and everywhere workers had a list of the requirements and they knew what I should present to them according to the regulations. So I believe that this way is not working that well anymore.

Bangkok Bank

Bank friendly for foreigners.

• can open on a tourist visa  (it looks like it is no longer true in 2023)
• debit card for 400 baht (can pay online)
• the minimum deposit for account opening – 500 baht
• everything available in English
• QR code PromptPay payments
• can transfer more than 50 000 baht from wise ( link )
• 3.8 ⭐ in google play for the mobile app

Thailand’s largest bank – Bangkok Bank is the most expat-friendly bank in Thailand. In 2022 they allowed to open a bank account on a tourist visa, but I’ve got some voices that in 2023 it is no longer true. Although my friends told me if you push a little and give them a good reason to open, sometimes they will still open a bank account for tourists (with a letter from the embassy), but it depends on the branch and manager. The bank website is fully translated into English and there is no problem contacting in person in English. The app allows paying by QR codes and receiving money, maybe the design of the mobile app is not super new, but it allows one to do all the necessary stuff there.

To open an account you need a letter from your embassy, you can’t really find an example of such a document. I created such a document myself and went to Polish Embassy and asked for legalisation of (my) signature under the document. Finally, I went to Bangkok Bank and tested if the document is ok for them. I managed to open an account with the document. You can download my document file for 1 EUR here .

I am attaching below the list of documents needed for account opening in the Bangkok Bank – archival website (2022) (no longer available).

You can open an account in the branch – Bank website: bangkokbank.com (list of requirements for foreigners on this page)

Recommended branches for account opening in Bangkok:

• Head Office – 333 Silom Road
• Exchange Tower Sukhumvit Road Branch – 388 Sukhumvit Road
• The Emquartier Branch – 689 The Emquartier (3rd Floor)

Kasikornbank

After Bangkok Bank, Kasikorn is recommended as the second most friendly bank for foreigners.

• can’t open on a tourist visa, can easily open on other types of visa
• debit card for around 300 baht
• no minimum deposit for account opening
• 3.5 ⭐ in google play for the mobile app

Kasikorn is one of the largest banks in Thailand. Many people and blogs recommend it as a good place to open a bank account for foreigners. Bank has a lot of branches and ATMs. Bank offers mostly the same functionality as others, so if you have other than a tourist visa, could be a good choice.

On the same day I went to Krungsri bank in Emquartier (04/10/2022) I also went to Kasikornbank. I asked workers about the requirements for account opening. They didn’t have a list, but when we talked their requirements were pretty similar to the list from Krungsri (below). They don’t accept tourist visas, for other types they want supporting documents, like a student – letter from the school, and for a working person – a working permit. So shouldn’t be hard to get these documents and open a bank account there.

At the beginning of 2023, I started a Thai language course, and I got Educational Visa. A little bit for sport and a little bit because the Bangkok Bank app looks not that fresh, I have decided to open an account in Kasikornbank. An employee asked me to show my passport (with ED visa) and letter/certificate from the school. After 40 minutes I left the bank with a debit card and activated the mobile app. After a small research, I believe that Kasikorn mobile app is probably the best mobile banking app in Thailand.

You can open an account in the branch – Bank website: kasikornbank.com

• Sukhumvit 33 Branch
• The Emquartier Branch
• other branches in expat areas: Sukhumvit, Silom, Siam

Krungsri (Bank of Ayudhya)

It is not that often recommended as the banks above, but when I went to the branch in EmQuartier, workers gave me really nice list of requirements that is quite easy to pass if someone has any other visa than a touristic one. So I have decided to also add it here.

• when have working/retirement/student visa needs a passport and other document issued by home country (ID, driving licence) (list of documents can be different in other branches)
• debit card for free or a few hundred baht (depends on the card)
• can transfer maximum 49 999 baht from wise ( link )
• 3.3 ⭐ in google play for the mobile app

I am attaching below the list of documents needed for account opening in the Krungsri – Emquartier Branch (04/10/2022).

You can open an account in the branch – Bank website: krungsri.com

Other banks

In Thailand also a few different banks are popular, mostly you will need to have a work permit to open a bank account there.

• UOB Bank – uob.co.th
• SCB (Siam Commercial Bank) – scb.co.th
• CIMB – cimbthai.com
• Krungthai – krungthai.com

I also managed to find a list of required documents to open an account in UOB. I am attaching it below.

Easy and costly way to open a bank account

If you are afraid of bank requirements or you don’t have enough time to collect documents, some visa agencies offer help with it. The only thing – it is not cheap – the minimum price I could find is 5000. Siam Legal can issue a reference letter for Bangkok Bank that you can use instead of a letter from your Embassy .

Update 2024 – it seems that most agents have withdrawn from opening bank accounts in Bangkok. Fortunately, other major tourist cities still have such offers. In case of a desire to open an account (e.g., on a tourist visa) with an agent, it’s worth taking a trip to Pattaya, Phuket, Chiang Mai, etc.

Digital wallets

When you will walk around food places or shopping malls, you will see at checkout that most stores offer a few ways of payment. Mostly with QR codes – some for digital wallets. Unfortunately, not all digital wallets are available for foreigners (registration for some of them requires a Thai ID number).

Wallets available for foreigners:

• Rabbit LINE Pay – Rabbit LINE Pay: a guide for the only Thai financial service available for everyone
• TrueMoney Wallet – only available for residents (you need to upload some additional documents on registration)

How to send money to Thailand?

After opening a bank account you want to top up it with some money. Or if you rent an apartment, but you don’t have an account yet, you need to pay with a transfer for it. After some research, I found only one good solution. Quick, reliable and with small fees.

Wise is another virtual wallet company similar to Revolut. But with one difference, Wise is more focused on international transfers than on storing money there.

• can open an account in many countries
• easy to top up
• you got bank account numbers in a few countries for popular currencies (USD, EUR, GBP, etc.)
• transfers to Thailand arrive immediately
• can order a debit card

What is super cool, Wise cooperates with local banks/companies in many countries, and because of that transfer sent through wise to Thailand arrives immediately in Thai bank accounts . Important thing is that Wise have a limit of 50 000 baht for a single transfer to some Thai banks . I also checked the provision and it is definitely the cheapest way to send money to Thailand.

You can open a Wise account here – on the website: wise.com

How to send money from Thailand?

So what if you want to take out money from a Thai bank account? In that scenario, only one good service exists in Thailand – DeeMoney . It is a service that allows sending money from Thailand to other countries, for a relatively low fee. Many people on the internet recommend the service.

But I thought about one more thing, I can top up my Revolut / Zen account with another card. So I did a small test. It is not really worth topping up Revolut like that because I wasn’t able to select Thai Baht for card top-up, so I would lose money for a bad conversion rate. But I tried with Zen and I managed to top up the account with Thai baht (with my Bangkok Bank debit card) for free. So I transferred my Thai bath to a European wallet for free. (Zen added a small fee for top upping with card 27.10.22, so it is no longer free, but still a really cheap option).

Useful links

Rabbit line pay: a guide for the only thai financial service available for everyone.

• Foreigner’s Guide to Thai QR Code Payments with PromptPay
• How to Open a Thai Bank Account: Choices, Requirements, Reader Experiences (thethailandlife.com)
• How to open a bank account in Cambodia: a guide for expats and tourists
• How to open a bank account in Philippines: a guide for expats and tourists
• How to open a bank account in Vietnam: a guide for expats and tourists

The article is also published in Polish on my blog .

Related Posts

Foreigner’s Guide to Thai QR Code Payments with PromptPay

In Thailand, Cash is the king, but Thai people started to love cashless payments. In opposite to Western countries cards never get that popular here (but their popularity still rises and credit card companies are Read more…

Most financial services in Thailand are not easily available for tourists. The only exception is Rabbit LINE Pay which allows easily to register for all foreigners. The service is quite convenient because it allows you Read more…

How to Open a Thai Bank Account as a Foreigner (Easy Guide)

Living in Thailand as an expat is a rich and fulfilling experience. And with a Thai bank account you can call your own, it is also extremely convenient to pay for things as you go about your life.

That’s because having a Thai bank account has become crucial in recent years as direct bank transfers via mobile phone for payments of goods and services have pretty much become ubiquitous in the Land of Smiles. Opening a Thai bank account is also necessary in Thailand if you wish to do things like purchase a condo or start a business in the country.

In Thailand, there are many different consumer banks all offering services in English to varying degrees. The most notable banks in Thailand include Bangkok Bank, Kasikorn Bank, Siam Commercial Bank (SCB), TMB Bank, and Krungthai Bank.

How can I open a Thai bank account as a foreigner?

The challenges associated with opening a bank account in Thailand as a foreigner falls into two categories.

Foreigners with a Work Permit or Non-immigrant Visa

The first is for foreigners who have a work permit or legal permanent residency in Thailand. These expats have it much easier. They can simply go to any Thailand bank branch and provide the necessary documents, fill out the forms, and pay the required fees to start a Thai bank account.

Foreigners without a Work Permit or Non-immigrant Visa

The second category is for foreigners who don’t have permanent residency or a work permit in Thailand. These foreigners can still open a bank account in Thailand, but it is much more difficult. Most bank branches in Thailand simply will not accept them.

There is a separate section below for foreigners who want to open a Thai bank without a work permit or non-immigrant visa.

What documents do I need to open a Thai bank account?

To kickstart the process, you’ll need to gather a set of documents. Thai banks typically require the following:

• Non-Immigrant Visa or Work Permit: Depending on your reason for staying in Thailand, you’ll need to provide either a non-immigrant visa or a work permit. This serves as proof of your legal status in the country.
• Residential Address Verification: Bring along a recent utility bill or a rental agreement to confirm your local address. If you’re staying at a hotel, a confirmation letter from the establishment should suffice.
• Initial Deposit: Each bank will have its own minimum deposit requirement. Be sure to have the necessary funds ready.

While these documents provide a general guideline, it’s advisable to check with the specific bank you choose, as requirements may vary.

What fees are associated with opening a bank account in Thailand?

Opening a bank account in Thailand usually comes with nominal fees. These fees can include:

• Account Maintenance Fee: Some banks charge a small monthly fee to keep your account active. This fee is often waived if you maintain a minimum balance.
• ATM and Transaction Fees: Using ATMs or making transactions might incur additional charges, especially if you’re withdrawing money from a different bank’s ATM.
• International Transfer Fees: If you plan on transferring money internationally, be aware of the fees associated with such transactions.

How to open a Thai bank account for foreigners without a work permit?

As we mentioned before, it’s a lot harder for foreigners without a work permit or non-immigration visa to open a bank account in Thailand. This could be foreigners on a short-term tourist visa in Thailand or a longer multiple entry tourist visa .

In short, most Thailand bank branches will simply turn these foreigners away when they ask to open a Thai bank account. But with that said, there are a couple of ways to do it:

Visit one of the main Bangkok Bank branches

The first is to visit the Bangkok Bank main branch in Silom or the branch in Exchange Tower in Asok. These two Bangkok Bank branches have been known for granting foreigners a Thai bank account.

The one requirement is that foreigners applying for a Thai bank account at these branches must show proof of residency (in addition to the other requirements mentioned above). This can be done by showing them your signed condo lease agreement.

Use a reputable Thai law firm

The other way is by hiring a Thailand law firm , that can help facilitate opening a Thai bank account for you. You pay the law firm a fee and they then contact the bank and provide a guarantee letter ensuring the bank signs off on your bank account application.

Siam Legal law firm offers this service for around 5,000 baht (~$150).

What are the benefits of having a Thai bank account?

Now that you know the ropes of opening a bank account in Thailand, let’s explore the perks and convenience it provides:

• Direct Bank Transfers via Mobile Phone: Having a local bank account streamlines your daily transactions. It eliminates the need for carrying large amounts of cash, enhancing your overall convenience as most goods and services can be paid for with direct bank transfers using your mobile phone.
• No Foreign Transaction or ATM Fees: With a Thai bank account, you can enjoy more cost-effective transactions, especially when compared to using international credit cards, which may incur higher fees. Also, you won’t have to pay the expensive ATM withdrawal fees in Thailand.
• Local Currency Handling: Living in Thailand means dealing with the Thai Baht. Having a local account enables you to manage your finances in the local currency, avoiding exchange rate fluctuations.
• Access to Online Banking Services: Most Thai banks offer robust online banking services, allowing you to manage your accounts, pay bills, and transfer money with ease.

Open a Thai bank account easily as a foreigner

Opening a bank account in Thailand as a foreigner may seem like a daunting task at first, but armed with the right information and documentation, it’s a straightforward process.

And the convenience, cost-effectiveness, and access to financial services in Thailand make it a worthwhile endeavor for any expat or foreigner.

Related: How to Get a Driver’s License in Thailand (Guide for Foreigners)

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How to Open a Thai Bank Account: A Foreigner’s Guide

Last updated March 27th, 2024.

A greater number of foreigners live in Thailand than anywhere else in Southeast Asia. Naturally then, there’s a strong demand for opening bank accounts here. Yet the rules have always been unclear.

I successfully opened dozens of Thai bank accounts over the past decade. The exact circumstances were always a bit different, although I’ve received an account in Thailand while holding everything from a tourist visa, to a student visa, to an investment visa .

Because of this, I do feel qualified to write a guide about opening a Thai bank account from the perspective of a foreigner.

Your experience will depend on who you are. And I went through the process as a permanent resident, tourist, university student, along with everything in between .

The process doesn’t work the same as it did in 2008 – certainly if you’re opening a Thai bank account on a tourist visa. Getting an account on a 30-day visa is still possible, but not anywhere near as simple as before.

You might find other guides online that specifically say “[Bank Name] will let foreigners open an account!”. We’re not doing that here for several reasons though.

First off, banks in Thailand don’t offer blanket policies on non-resident account opening.

Quite frankly, your ability depends on which branch you visit and the employee’s mood at the time. A staff member at the head office will probably give you a completely different answer than a branch in Bang Na.

Secondly, staff at Thai banks are constantly changing or rotating. We could give you the name of a branch where opening an account as a foreigner was easy eight months ago. But the same friendly employee likely doesn’t work there anymore.

Don’t worry though: keep reading and you’ll learn all the information you need about opening a Thai bank account as a foreigner.

Long lines are a common sight at banks in Thailand during rush hour. Make sure you choose a convenient bank.

What’s the Best Bank in Thailand for Foreigners?

Can you even open a bank account in Thailand as a foreigner? “Yes” is the short answer.

With that said, it’s a bit more complicated than that. Your available banking options in Thailand will vary based on whether you have a long-term visa or not.

Make sure you bring a passport and a minimum deposit since you will definitely need those.

Depending on which bank you’re visiting, you may also require anything from a long-term visa, to a referral letter from an existing customer, to a letter from your embassy.

What’s the best bank in Thailand? Well, there isn’t really such a thing.

We should note that, like in most of emerging Asia , your experiences might differ based on the specific bank branch you visit. 

In all seriousness, it’ll depend on the branch and the staff working there more than any other factor.

Employees have a large amount of discretion regarding what paperwork they want, how easy they’ll make the process, or even if they’ll let you open a Thai bank account at all.

Therefore, if you visit a bank and things don’t work out for you, then simply try another branch. Remember to be polite with staff as well. Banking in Thailand is often frustrating, yet becoming mad will probably end up wasting your time.

Not every bank in Thailand is equal. Some are frequently crowded with customers. Others are highly bureaucratic if you’re a foreigner. And a few of them lack customer service standards

5 Largest Banks in Thailand

We’ll start off with Thailand’s biggest banks. Conveniently, they’re also the easiest ones to open an account with if you’re a foreigner.

Each of them will allow non-resident account opening. As mentioned before though, your experiences will vary depending on the exact branch.

Depending on what metric you’re using (number of staff, annual profit, AUM, etc.), the “biggest bank in Thailand” is one of three.

Bangkok Bank

Currently, Bangkok Bank (BBL) is our favorite bank in Thailand.

Not only are branches and ATMs plentiful, but you will find English-capable staff at most locations. Their online banking is better than many local banks and friendly to foreigners who don’t read Thai.

Worth noting is that Bangkok Bank  has offices in New York and other major cities around the world. In fact, they easily boast the largest international presence out of all local Thai banks.

You may find Bangkok Bank very useful if you’re expecting transfers from the US, China, or elsewhere.

Siam Commercial Bank

Y et another top choice, Siam Commercial Bank (SCB) is the nation’s first and still among the biggest banks in Thailand. They directly compete with BBL and KBank for Thailand’s largest ATM network.

You shouldn’t ever have problems finding an SCB location, even far outside of major cities in Thailand.

While we generally prefer Bangkok Bank because of their international presence, SCB does enjoy lots of the same advantages. Lines are shorter compared with other top Thai banks and customer service standards are above average.

Kasikornbank (KBank) and More

The third major Thai bank on our list, KBank is worth considering if you’re a foreigner. However, there’s one notable downside: Kasikornbank is widely known as an everyman’s company .

KBank’s Thai name is translated to “farmer’s bank”. Practically every local has   an account with them and they don’t require a minimum deposit. Thus, despite a very large presence, you’ll commonly encounter long lines at branches and ATMs alike.

Rounding out the top five largest banks in Thailand are Bank of Ayudhya (Krungsri) and Krung Thai (KTB).

Unfortunately, their ATMs and branches aren’t easily available compared with the three listed above. And they’re often packed with customers.

Of course, there are smaller local banks in Thailand as well. They might have advantages (lower interest rates, niche services, etc.) if you’re a Thai citizen. But if you’re a foreigner, dealing with them is normally harder than if you used a top 10 bank.

Foreign Banks in Thailand

Besides local banks, Thailand hosts several large multinational banks, These are especially helpful if you’re a foreigner of certain nationality who is living in Thailand.

Singapore’s UOB and CIMB from Malaysia are the most prominent ones. Yet opening at an account at either of them is very difficult if you’re a non-resident foreigner.

Citibank used to have sizable operations in Thailand, but their unit was sold to UOB back in 2023.

Foreign banks are often easier to use if you’re making international transfers and/or banking regionally across Southeast Asia . Consider opening an account at UOB or CIMB if you’re doing business throughout the ASEAN region.

Otherwise, our advice to anyone on a short-stay Thai visa is: go to your nearest branch of either Bangkok Bank or SCB. If they’re difficult with you, then try another branch.

Repeat this process until you’ve successfully opened a bank account in Thailand!

What is the Best Bank in Thailand?

Bangkok Bank and Siam Commerical Bank are generally the most friendly toward foreigners in Thailand. Mobile banking is of a high quality, and branches will usually have employees who speak English.

Foreign banks in Thailand, such as UOB, are also a good choice.

Can I Open a Bank Account in Thailand with a Tourist Visa?

It's possible to open a bank account in Thailand on a tourist visa, but it's at the branch manager's discretion and is becoming increasingly difficult.

If they allow you to open an account at all, they'll probably have additional requirements such as a letter from your embassy or a residential address.

Do I Need a Work Permit to Open a Thai Bank Account?

Not neccessarily. If you're a retiree, investor, student, or another type a visa, the bank won't make you show a work permit.

However, if you're in Thailand on a work visa then you probably will have to show a permit.

What is the Biggest Bank in Thailand?

Bangkok Bank is Thailand's largest bank in terms of total assets. If using market capitalization as a criteria, Siam Commerical Bank is the country's biggest.

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Complete Guide: Opening A Bank Account In Thailand

by Melissa Giroux | Last updated Dec 5, 2023 | Asia , Living Abroad , Thailand , Travel Finances , Travel Tips

Are you ready to open a bank account in Thailand? You’re about to embark on an exciting journey that will make your life easier, and let you save money.

But before you get started, there’s one thing you should know: it can be a bit tricky at times!

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From paperwork requirements to language barriers to cultural differences, opening up a bank account in Thailand isn’t always straightforward.

But don’t worry — we’ve got all the tips and tricks you need so that navigating this process is as easy as possible.

Before we get started, you should note that I opened a bank account in Chiang Mai, so you may face some minor differences if you open a bank account somewhere else in Thailand.

In this guide, we’ll cover all things related to banking in Thailand.

So buckle up and get ready to learn how to open a bank account in Thailand !

Best Banks In Thailand For Foreigners

If you decide to open a bank account in Thailand, you may be wondering which bank is best for foreigners.

Planning your upcoming adventures? Travel by bus! (It's cheap!)

When we asked agencies, we were told Bangkok Bank and Kasikorn Bank were the best options for foreigners.

After a quick search in Facebook groups for expats in Thailand, it seemed that Bangkok Bank was the best bank for foreigners, so we decided to go for Bangkok Bank.

Now, you should know that there are many others banks in Thailand to consider, but it’s not always easy to open a bank account abroad, so we thought it’d be better to pick an easy and fast option.

Process Of Opening A Bank Account In Thailand

Opening a bank account in Thailand is easy as long as you have all the correct documents. Let’s take a look at the documents needed first.

Documents Required By The Bank

To open a bank account, you’ll need the following documents:

• Residence certificate (learn how to get the residence certificate in Chiang Mai )
• Lease agreement

You don’t need to bring copies of your passport or your lease, as the bank officer can make copies directly at the bank. However, it’s important to note that the officer will take the original residence certificate.

Remember to bring money with you, as you’ll need to make a deposit and pay a small fee to get a bank card.

• Pick a bank nearby, and when you get there, you may need to pick a queue number to open a bank account. Make sure you have all the right documents with you (see the list above).
• When your number is called, go to the office and request to open a bank account. The officer will ask for your documents and give you paperwork to fill out.
• The officer will ask you which types of banking services you’ll need. We asked for a debit card and access to a mobile banking app.
• Pay the fee to open the bank account (fee, card, insurance, and deposit).
• Sign a lot of documents.
• Decide on a beneficiary.
• Set up your PIN for the mobile banking app, and for the bank card.
• And there you have it. You now have a Thai bank account.

Now, it’s essential to know that opening a bank account can be long, so bring your best self and patience along.

Keep reading to learn about my experience opening a bank account in Chiang Mai, Thailand.

My Experience Opening A Bank Account In Chiang Mai

My partner and I decided to open a bank account at Bangkok Bank in Central Festival in Chiang Mai .

On our first attempt, we had to wait one hour for our number to get called, and then, the officer disapproved of our lease agreement as there was a page that the landlord didn’t sign.

The next day, we came back with a correct copy of the lease. We had to wait another hour for our number to get called.

As I was there with my partner, we had to open two Thai bank accounts, and the whole process took around 1h30. In the end, we were at the bank for quite a while.

When we left, we already had access to the mobile banking app, a bank card, and money in our bank account.

We both had to pay THB 1,800. This fee includes insurance for one year and a bank card.

The next day, I transferred money to my Thai bank account with Wise , and it worked instantly.

Online Banking In Thailand

Each bank has its own online banking app, but most are similar.

With your app, you can:

• Transfer money to other bank accounts in Thailand.
• Scan QR codes.
• Withdraw money in ATMs.

ATMs In Thailand

You can find ATMs all over Thailand, and you may use them to:

• Withdraw money from your Thai bank account.
• Withdraw cash from your travel card. For example, you can withdraw money with Revolut in Thailand .
• Check your balance.
• Change your PIN code.

Read our guide to learn more about money in Thailand .

Banking Alternatives For Foreigners In Thailand

In addition to banks, there are other banking alternatives for foreigners in Thailand.

Here are some other ways you can get, withdraw or transfer money in Thailand:

• Wise – A fast and secure way to transfer money from one currency to another. For example, I use Wise to transfer money to my Thai bank account.
• MoneyGram – Another safe service that allows you to send money in minutes.
• PayPal – You may use PayPal to receive money from abroad and to send payments.
• Revolut – You can also open a Revolut account and use it in Thailand. It’s great for traveling abroad, as you can access multiple currencies and extra perks. Learn more about the Revolut travel card .

Final Thoughts About Opening A Bank Account In Thailand

Opening a bank account in Thailand can save you a lot of time and money. With an account, you’ll have access to more banking services, and you’ll be able to transfer, withdraw and receive money with ease.

For a smooth experience, make sure to have all the documents you need with you when visiting the bank.

It’s also important to understand the fees associated with opening an account and any services you may need. So, make sure to bring money too.

Traveling to Thailand soon? Read one of the following guides:

• Thailand to Cambodia
• Koh Tao hostels
• Things to do in Koh Tao

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How To Open a Thai Bank Account (The Ultimate Guide for Expats)

If you’re wondering how to open a Thai bank account, you may feel overwhelmed. Which bank do you choose? What documents do you need? Will the bank tellers speak English? Despite what some expats say, opening a Thai bank account isn’t as tough as you may expect. Whether you’re a professional, retiree, or just a newcomer who wishes to make Thailand your home, this guide will clear up any confusion, dispel misinformation, and simplify the process of how to open a Thai bank account. But first, why should you open one? 

4 benefits of a Thai bank account

Simply put, a Thai bank account makes your life easier and is essential if you plan to stay long-term. Below are some of the key benefits: 

• Receive direct deposits from your employer:  Most companies in Thailand pay employees once a month. With a bank account, your paycheck can be direct deposited. 
• Make purchases with your debit card:  While a debit card likely can’t be used to purchase lunch at your local food stall, it does come in handy at hotels, malls, and upscale restaurants.
• Pay bills online:  You can literally save hours with online bill payment. Instead of driving to your mobile provider’s shop, waiting in line, and paying your bill at the cashier, a bank account enables you to complete the same task without leaving your home. 
• Get a long-stay visa:  A Thai bank account is necessary for O-A long-stay visas. A Non-O visa for retirees requires a bank balance of 800K THB, and Non-O visas for spouses of Thais and dependants needs a 400K THB balance. 

Eligibility for opening a Thai bank account

You can open a bank account in Thailand if you’re on a non-immigrant visa or extension of stay, a visa exemption stamp, or short-stay visa, and have an established residence in Thailand (more on this soon). 

However, if you’ve searched expat forums on the subject of how to open a Thai bank account, you’ve probably heard it’s difficult. The reason is some bank branches are cautious about foreign customers. It’s not that they don’t want your business. It’s just that servicing foreigners requires Thai banks to deal with complex regulations and for expats to sign additional forms. American citizens can be even more challenging, as the US government requires banks to report the assets of citizens abroad. Another reason for difficulty could simply be a lack of English-speaking staff. 

Let’s be clear, a rejection from a single branch doesn’t mean you’re ineligible for a bank account. It just means you need to find a different branch. While being turned away from multiple banks can be frustrating, there are ways to increase your likelihood of opening an account on your first attempt. More on that soon. 

Types of bank accounts

Before you open an account, you first need to know which type you need. Here are three common accounts available in Thailand, ordered from easiest to open to most difficult. 

Savings account:  The most common type of bank account in Thailand, a savings account provides you with a debit card and passbook (commonly referred to as a bank book), which records transactions. 

Current account:  A current account (or a checking account) is similar to a savings account; both provide you a debit card to use at ATMs. The only real difference is a current account provides you with a checkbook instead of a passbook. A work permit is required to open a current account. 

Fixed term account:  This type of account offers a higher interest rate than the above options, however, expats don’t always receive the same interest rate as Thai citizens. 

For most expats, a savings account is the best choice as it provides everything you’ll need.

How banking in Thailand is different

Thai banks likely operate differently than those in your home country. Below are some key differences: 

One account is usually enough:  If you’re like most expats, you probably have a savings and checking account back home. In Thailand, however, a savings account is typically enough. Most expats don’t use checks here, and considering the added difficulty of opening a current account, it’s probably not worth the hassle. 

Branches matter:  Individual bank branches operate independently and policies can vary from branch to branch. While all branches follow similar processes, some locations are more welcoming to foreigners than others. Just because you have an easy experience at one branch, doesn’t mean you’ll receive the same service or need the same documents at another. The English level can also vary greatly, but English will be better in expat and tourist areas.

Physical branch visits are common:  Though all banks now offer online banking and apps, functionality of these tools can be limited. For a surprising amount of your banking needs, you’ll need to visit a physical branch, which is the case for opening an account and often for more advanced transactions. 

Signatures are often required:  Prepare your hand for a signature marathon. Even for simple tasks like withdrawals, you may be asked to sign multiple documents. This often includes a copy of your passport, or even multiple copies. All the signatures may seem excessive, but be polite. Physical paper copies are the standard in Thailand so the bank reps are just doing their job. 

Debit cards can’t always be used online:  Thai ATM/debit cards aren’t always accepted by international retailers for online payments. As a workaround, some banks provide virtual credit cards through their web application, which should be accepted. Another option is to apply for a credit card at your bank, which will be widely accepted by online retailers. 

ATMs are feature-rich:  With an ATM card, you can accomplish many of your banking needs, such as updating your bank book, paying bills, transferring money, and more. However, beware ATMs may dispense your money prior to returning your card. This causes many foreigners to grab their cash and leave, forgetting their card at the machine.

Documents needed to open an account on your first try

To successfully open a bank account on your first attempt, you must bring the correct documentation. What you need depends on your visa situation. Below are two common scenarios and the documents you’ll need in each case. 

You need a bank account to acquire a long-term visa

If you need a long-term visa, you may have found yourself in quite the conundrum: a bank account is necessary for your long-term visa, but some banks won’t provide you an account without a long-term visa. What can you do? If you’re in this situation, you probably feel frustrated. But don’t worry, there is a way forward. 

The solution is to bring your passport and proof of residency (like your lease agreement) to your embassy and ask for a letter of reference that confirms your Thai address. Once you’ve received the letter, show it and your passport to the bank and you’ll be able to open the account.  

(For Australians, The Australian Embassy is not authorised to sign or witness forms/letter in non-Australian jurisdictions, according to the Consular Fees Act)

You’re already on your desired visa

Whether you’re on a tourist visa, education visa, or something similar, you’ll need your passport to open a bank account. Other documents worth bringing include your work permit (if you have one), a letter from your employer stating you’re currently employed or applying for a work permit, proof of Thai residence, and proof of residency in your home country, which may include a driver’s license or utility bill. Bringing a minimum deposit of a couple thousand baht—or as much cash as you have available—is also a wise decision, as most banks will require one. 

For proof of Thai residence, you can bring a rental or lease agreement, a utility bill, a Thai drivers license, and/or a yellow Tabien Baan, also referred to as a house book.  

As mentioned, required documents can vary from branch to branch. For that reason, we recommend bringing as much documentation as possible to avoid multiple trips. Alternatively, you or a Thai speaking friend can call ahead and ask the branch manager what documents are needed.  

If you want to make the process even easier, follow the same advice above for needing a long-term visa. Ask your landlord for a copy of their ID and your lease agreement. Then bring these documents to your country’s embassy to get a letter of reference that confirms your Thai address. 

Choosing your ideal Thai bank

Choosing your Thai bank can be tricky because you have so many options. To help narrow your selection down, we’ve described each of the most popular Thai banks and their benefits, below. 

Bangkok Bank

The biggest bank in Thailand with 1,200+ local branches and the largest network of Thai banks abroad, Bangkok Bank is consumer friendly and very welcoming to foreigners. What’s more, overseas money transfers have a good exchange rate and are easy to complete. As our clients regularly share positive customer service experiences about Bangkok Bank, it is Baan Thai’s recommended choice for expats. 

Link:  https://www.bangkokbank.com/en  

Kasikorn Bank

The fourth largest bank in Thailand, Kasikorn has a wide network of branches and ATMs and is foreign friendly. The bank also offers convenient international money transfer and intuitive mobile banking. Kasikorn is typically one of the easier accounts to open. 

Link:  https://www.kasikornbank.com

Citibank is the largest foreign bank in the country and offers some unique benefits. For example, you can withdraw cash without a fee from their wide network of ATMs worldwide and accumulate Thai Airways frequent flyer miles with their Royal Orchid Plus Select Mastercard. The bank offers excellent digital banking and easy international transfers. 

Link:  https://www.citibank.co.th

Krung Thai Bank

A government owned bank, Krung Thai is the country’s second largest bank with over 1,200+ domestic branches. Opening an account at Krung Thai is easy, as little documentation is typically required. 

Link:   https://krungthai.com/en

Siam Commercial Bank

SCB offers a wide network of branches, excellent insurance policies, and a user-friendly mobile app. The bank also has a low barrier of entry to open an account. Expats and non-residents often just need a passport and deposit. 

Link:   https://www.scb.co.th/en 

Formerly known as Bank Thai, CIMB is the 10th largest commercial bank in the country. They offer a comprehensive spectrum of insurance policies, and expats can open an account on a tourist visa. 

Link:  https://www.cimbthai.com/en 

Krungsri Bank / Bank of Ayudhya

Krungsri’s perks include excellent digital banking and easy international transfers. 

They are the fifth largest bank in Thailand and have a wide network of branches throughout the country. 

Link:  https://www.krungsri.com/en

Open your bank account

Once you’ve selected a bank that fits your needs, take a deep breath, muster the courage, and go open one. Really, it’s not as scary as you think. You’ve already moved to a foreign country, a task most people will never be brave enough to do. Comparatively, opening a Thai bank account should be easy.

And besides, your Thai bank account is a big part of your everyday life and financial planning. Having one provides a reliable way of accessing funds and transferring money around. Things like shopping, paying bills, and receiving money become fast and easy. So what are you waiting for? Go out there, open an account, and you’ll soon have more time on your hands to enjoy this beautiful country. 

Frequently Asked Questions

Can I open a bank account with a tourist visa?

Yes, but your success will depend on the bank and branch. Some are more lenient than others. The best place to try is in a tourist area, as these locations are more foreign friendly.  

Can I send money to my Thai bank account from abroad?

Absolutely. For the best exchange rate, we recommend using a service called  Wise (formerly TransferWise ) . Over the course of a year, the service can easily save you hundreds of dollars as the transfer fees are minimal and you always get the up-to-date exchange rate.

Can I send money from my Thai bank to another country?

Yes, many banks offer direct bank transfer. However, you can also use services like Western Union and DeeMoney. 

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How to Open a Bank Account in Thailand in 2023

If you plan to come to Thailand to retire or even further your career here, opening up a Thai bank account will make it a lot easier for you to manage your retirement funds from abroad or receive your salary if you get paid in Thai baht.

The good news is that finding the right bank (and branch) is very easy, and getting one opened up is relatively straightforward. However, without the right types of documentation and a basic understanding of opening an account, you’ll undoubtedly hit a few bumps along the way.

That said, this Pacific Prime Thailand article will provide an overview of opening up a bank account in Thailand and cover the types of visas and documents required for expats to bring.

Opening a Bank Account – An Insight For Expats

Although opening up a Thai bank account is deemed manageable and straightforward, you should know that Thai banks are thorough with their screening and checks to prevent fraudulent activities and safeguard their reputation.

All Thai banks operate under the terms and conditions, as well as the economic policies proposed by the Bank of Thailand . This means the requirements set out by each bank, including what documents are required and the customer’s visa type, are stringent. However, expats shouldn’t be alarmed yet.

Provided that you’re on the correct visa and have all the listed documents, the process of opening a Thai bank account is simple. If you’re an expat working in Thailand, your company may have staff assisting you. But it’s good to learn about Thai banks yourself for their other services.

Which Bank to Choose?

You may find it takes less than an hour to open an account as an expat; this varies depending on your nationality, where and when you go, and the clerk you meet. Most bank workers speak little English, if at all. But if you’re lucky, you may come across some who are fluent in English.

So that you’re aware, here is a list of reputable banks in Thailand:

• Kasikorn Bank (KBank)
• Siam Commercial Bank (SCB)
• TMB & Thanachart Bank (TTB)
• Krungthai Bank (KTB)
• Bangkok Bank (BBL)
• Kiatnakin Bank (KK)
• Krungsri (BAY)

When visiting the aforementioned banks, do let them know what your purpose in Thailand is. By knowing whether you’re working or retiring, they can offer the right type of bank account to open and services to use.

Where Can You Go to Open a Thai Bank Account?

If you’re an expat who has just arrived in Thailand, you’ll probably want to head to Bangkok as banks in the commercial and business areas of the capital will likely have English-speaking staff. You’ll also be better off going to one of the above banks located in shopping centers like CentralWorld.

For instance, Although banks are normally located on the same floor or area of a shopping mall, KBank has two branches in Siam Paragon (the main branch on the Ground floor and their Wisdom branch on the third floor) that receive a constant flow of expat nationals who seek to open up a bank account.

BBL and TTB in both shopping centers also see a number of expats visiting and enquiring about the process of opening up a Thai bank account. The same can be said of other banks, which are worth heading over to enquire about their accounts and services.

If Bangkok is not convenient, you can head to bank branches in other large cities or populated towns across Thailand. It is best to visit their websites and see what services they can offer, especially when opening a Thai bank account.

Bank Accounts for Expats to Open in Thailand

Depending on the type of visa you’re on, you can open one of the following bank accounts:

• Savings account
• Current account
• Fixed-term account
• Foreign currency account

Which Account is Right For You?

If you’re an expat who’s working or retired in Thailand, you’ll probably need to inquire about different types of bank accounts: a savings account, current account, or fixed-term account.

A savings account typically comes with a passbook and is equivalent to a current account in the UK. You can also subscribe to a debit card with an annual fee. On the contrary, a current account comes with a checkbook and is more appropriate for those on a work permit and/or running a business.

Retirees on a non-immigrant visa (O-A long-stay visa) or equivalent may find a fixed-term account suitable for putting their savings away and seeing it grow with interest.

Required Documents to Open a Thai Bank Account

Depending on your status in Thailand, you’ll need to provide at least the following documents:

• Your visa – either a three-year non-immigrant visa for business, non-immigrant visa (O-A long-stay visa), non-immigrant B visa for business or work, or a work permit
• Your passport
• Proof that you’re living here in Thailand such as a lease or rental agreement
• A letter from your employer confirming your title and your employment status in Thailand
• A reference from the bank account you have in your home country or embassy

It’s best to ask the bank you visit to explain and provide a list of documents for you to bring on your next visit.

Get Insurance with Pacific Prime Thailand

Before thinking about which bank to go to or where to open up a Thai bank account, you’ll definitely want to consider securing some form of travel or international health insurance for your time in the country.

Travel insurance comes with many benefits for when you travel over, like coverage for flight delays, cancellations, or loss of baggage or possessions. Medical coverage is also available. However, the limits or benefits attached may not be as comprehensive as an expat health insurance plan .

If you’re unsure of which to choose, our Pacific Prime experts can go through a list of specific plans from reputable insurance partners to match your needs and budget. Contact us today for a free quote and impartial advice.

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Suphanida Thakral

Suphanida is a Senior Content Creator at Pacific Prime, an award-winning global health insurance and employee benefits specialist.

With over 5 years of experience in the field, Suphanida spends the majority of her day synthesizing complex pieces of insurance-related information and translating this into easy-to-understand, engaging, and effective content across a variety of media such as articles, infographics, whitepapers, videos, and more.

Suphanida is also responsible for planning and publishing three whitepapers released annually by Pacific Prime: The State of Health Insurance Report, The Cost of Health Insurance Report, and The Global Employee Benefits Trends Report. Additionally, she handles the LinkedIn profiles of Pacific Prime’s Founder and CEO, as well as Global HR Lead.

Suphanida’s strengths lie in her strong research and analytical skills, which she has gained from her BA in Politics from the University of Warwick and Erasmus Mundus Joint MA in Journalism from Aarhus University and City, University of London.

Being of Thai-Indian origin and having lived, studied, and worked in Thailand, the UK, and Denmark, Suphanida also has a unique, multicultural perspective that helps her understand the struggles of expats and globetrotters.

Outside of work, she enjoys traveling to new places and immersing herself in different cultures.

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Opening a Bank Account in Thailand

NOTE: This service is currently not available to foreign nationals holding a Tourist Visa.

If you intend to retire in Thailand or perhaps stay in the country for a longer period, opening a Thai online bank account is a must. It will be much simpler for you to handle your retirement savings from abroad or receive money to pay for your travel expenses. The good news is that it’s fairly simple to locate the ideal bank for you, and it’s also not too difficult to open a Thai bank account online. However, you’ll inevitably run into some obstacles if you don’t have the right documents and don’t know the fundamentals of opening a bank account in Thailand.

Usually, banks in Thailand require too much documentation for a foreigner who wishes to open a bank account in Thailand. Siam Legal makes it easier for you, by assisting in opening a bank account in Thailand.

Types of Bank Accounts available for Foreigners to open in Thailand

You may open one of the following bank accounts, depending on the type of visa you are holding:

• Current accounts
• Savings accounts
• Fixed-term accounts
• Foreign currency accounts

Choosing to open a savings account will net you a passbook and is considered equivalent to a current account. You can also acquire debit cards, albeit at an annual fee.

Unfortunately, Foreigners in possession of a Tourist Visa are not eligible to open a bank account in Thailand. Only those with a long-term visa (such as a Thailand Privilege Visa or LTR Visa) are allowed to open a bank account in the country. If you want to open an account here as a tourist visa holder, you will need to acquire a long-term visa as a result.

• Able to open a savings account with Bangkok Bank
• You will receive a bank book and a debit/ATM card
• The use of online banking is subject to approval by the bank manager.

Eligibility

• Foreigners who are currently in Thailand on a long-stay visa such as non-immigrant visa
• Work permit and immigrant residence certificate are not required

Requirement

Siam Legal provides you with a guarantee letter and will personally assist you to the bank to ensure a fast-track, convenient process.

Must be physically in Thailand. We will assist you personally with a Thai bank. This includes applicants located in Bangkok and Chiang Mai. For those living in areas not mentioned above, you have to travel to the nearest location where you currently are.

Service Fees

Our service fee is 5,000 THB + 7% VAT for opening a local Thai savings account.

If you are currently in Bangkok, we provide free consultation on any Thai visa-related inquiries.

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• Expat guide
• Opening a bank account in Thailand

The banking system in Thailand

Thailand provides a wide array of options in terms of banking institutions and, as many expats are drawn to the Land of Smiles, the process of opening a bank account is also fairly straightforward. Opening an account at a Thai bank will not only make you feel more at home in the country, but it will also simplify life in terms of your monthly payments and saving on transaction and currency costs when withdrawing money. It is common for ATMs in Thailand to charge a steep withdrawal fee when using a foreign card, so it is best to avoid this as soon as possible.

To open a bank account, you will generally need to visit a branch in person so that a bank official can witness you signing the papers. Many banks in Thailand may charge you an initial fee or require a certain amount as deposit.

Choosing your bank in Thailand

Every bank and every branch can be different in terms of requirements for opening a bank account, services and fees. However, when it comes to choosing a bank, many expats feel more secure when banking with either an international bank or a large local bank with a long history.

Many of the main banks in Thailand ' Bangkok Bank, Kasikorn Bank, Siam Commercial Bank (SCB), CitiBank, HSBC, Krungsri Bank, TMB Bank, UOB Bank ' all have branches throughout the country and are used by expats.

It is advisable to do your research beforehand by enquiring at different banks or amongst other expatriates, as fees and interest rates may vary. Some fees to inquire about are yearly account fees, account cancellation fees and card replacement fees. However, you can usually avoid ATM withdrawal fees and conversion rate fees so long as you use your bank's ATM.

It is also important to be aware that in Thailand, a lot of emphasis is placed on your home branch, which is the branch where you opened your account. Some banking options can only be performed at your home branch, so it is best to carefully consider which branch will be most convenient for you to be your home branch.

You should also consider what type of account you would like to open. If you have the option, it is worth applying for an account that offers a wide range of services, such as internet banking and online international fund transfers.

To help you out Here's our recommended banking service.

Procedures for opening a bank account in Thailand

You can generally open a bank account in Thailand if you show your passport and a Non-Immigrant B visa, O-A Long-Stay Visa, or a 3 year Non-Immigrant Visa for business.

Good to know:

If you are holding a tourist visa only, banks will not cater to you for applying for an account in Thailand.

Some banks will also require other documents, such as a proof of residence, lease agreement, Thai driver's license, or a marriage certificate if you are married to a Thai citizen.

If you have the required paperwork, the whole process of opening a bank account should not take more than half an hour. You will then be issued with a bank book, an ATM card, and it is worth paying a small sum if need be to get a debit card too.

Once you have opened a bank account, it is important to find out your maximum withdrawal amount. Many banks set this amount at about THB20,000. However, in some cases like paying rent, this may not be high enough, so you may wish to ask the bank staff to help you change this.

You should also request detailed instructions about how to set up internet banking if available to you. Each bank is different but, as most do not send monthly statements, it the easiest way to check your activity and make transfers is online and also to avoid fraudulence by being alarmed if your account has been used to withdraw or purchase something.

Useful links:

SCB Kasikorn Bank Bangkok Bank TKB Siam Legal ' Opening a bank account in Thailand

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Ask Chiang Mai

For Digital Nomads, Expats and Retirees living in Thailand.

How to Open a Bank Account in Thailand (for Foreigners)

Lifestyle / 10th August 2018 by Matt Morris / 6 Comments

Policies, Rules and Eligibility

• A Thai driving license
• A Thai house registration or letter from a landlord
• A work visa or a letter showing you are qualified to get a work visa
• A tourist or student visa
• A reference letter from a Thai university or embassy
• A reference letter from a “reputable” Thai citizen or a high standing Thai organization
• Communications or letter from your current bank to the specific Thai bank
• Photo ID or passport

Which Bank Should You Choose?

Bangkok bank, kasikorn bank, other thai banks that work well with foreigners include:.

• Bank of Ayudhya
• Siam Commercial Bank

Benefits of Opening a Bank Account in Thailand

Lower atm withdrawal fees, no conversion fees, online banking, it’s easy to make local purchases, additional information, out of province fees, reader interactions.

19th July 2019 at 6:26 pm

Thank you Brett for the great info, I’ll be visiting Thailand to open a bank account probably in Bangkok bank so I can link it to my paypal which isn’t available in our country, since I’ll be a tourist on 2 months visa who will keep coming to Thailand to buy gems, paypal will ask me for residency address verification, what will I do if I’m living in a hotel or hostel? Regards Shinwari

28th September 2020 at 12:44 pm

You could always rent an apartment, especially if you are going to Thailand for 2 months.

26th December 2019 at 4:13 pm

I live I the usa and don’t have to have a visa to go to Thailand. Will my passport do. Just my passport.

28th September 2020 at 12:43 pm

Yes, US citizens get 30-day visa exemption.

20th February 2020 at 7:21 pm

Very concise and valuable content. I am planning an extended stay in Chiang Mai and hope to see more from this contributor.

28th September 2020 at 5:58 am

Thank you Brett for a wonderful website with so much useful information!

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[email protected] - @chiangmaibuddy

How to get a Thai Bank Account on a Tourist Visa

• August 27, 2015
• No Comments

How to get a Thai Bank Account on a tourist visa, without a work permit.

When you are staying in Thailand for more than a few weeks, you soon come to the realization that getting access to your overseas money is costing a fortune in fees.  The bad news is that most banks will require you to have a work visa. The good news is that you can get a Thai bank account pretty easily, with a tourist visa.  But (more bad news) as found in many forums posts on the topic, there is no consistency.  It is up to the discretion of the Bank manager and staff on any given day. Sure, anyone with a work permit and a passport can get an account at any bank, but what about the person who is here for 3-12 months that wants to save in overseas fees and have the convenience of being able to purchase items without being charged that 3% credit card fee.

The Benefits of Opening a Thai Bank Account

No ATM Withdraw Fees

I personally had a credit card (Capital One) that sold me on it’s no overseas Conversions fees.  But they stung me on using an ATM.  Having a Thai bank account almost everything is free but not much will cost more than 150 Baht.

No Conversion Rate Fees

You lose a good percentage when withdrawing overseas funds in Thailand.  In addition using an overseas credit card will usually incur an additional 3%

You get a Thai Debit Card

Not just an ATM card but as is the practice now days, it can also be used as prepaid Visa credit card.  But more importantly you do not have to carry cash around with you, all major stores, takeouts and facilities accept this payment.

Transfer Funds In and Out of Thailand

Your Thai bank account (especially if you attach it to a Thai PayPal) is the easiest way to transfer money in and out of the country.  It is a little slow, taking 7-10 days to complete – but it cost 50 baht for amounts over 5000 baht.

The Official Criteria for a Bank Account

Each Bank in Thailand officially has similar criteria for obtaining a bank account.  Mostly these involve a work permit or wife or Condo ownership.  What the banks are looking for here is some form of proof that you are worth going through the massive amount of paperwork in the application process.  Most westerners are only here for a couple of months, and Thailand is still using a huge amount of paper in the application process.  You will be signing documents for about 20 minutes as they print them out for you one at a time. The Banks Criteria are listed below.

Bangkok Bank

Requirements: Passport (with non immigrant ‘o’ yearly visa) and Driver’s License (basic savings account). Work Permit, or own a condo, they have better options of accounts

Bank of Ayudhya

Requirements For a joint bank account: Passport. Wife’s ID card & House Book used as proof of address. No non-immigration O visa and no work permit required.

Kasikorn Bank (K-Bank)

Requirements: Passport and Work Permit. Condominium ownership proof and a passport (non-immigrant ‘0’ visa), or Marriage certificate to a Thai National.

Requirements: Passport and Work Permit

Requirements: Passport and Work Permit, or a minimum 1 yr apartment contract.

Two Banks, (Bangkok Bank & Kasikorn) have a reputation for being a little more farang friendly than the others.  Indeed Bangkok Bank has a special account for non Thai residence, that is a basic savings account with an ATM (Visa) card [hr]

Bangkok Bank Criteria for Non Residents obtaining Bank Account (on a tourist Visa)

Obtaining an account without: being a resident, having a work permit or a retirement visa, only requires a valid passport, and ONE of the following documents:

1). An identity card issued by a government institution or university such as: Your driver’s license, Foreign Identification Card, University Student/Professor Card

2). A letter of recommendation from Embassy, International Organization, Customer’s home bank to Bangkok Bank via the SWIFT message, a person acceptable to Bangkok Bank (such as BBL staff, customer, government officer, company executive, private firms), or home country institutions (such as pension receipt)

3). Other documents showing your name such as:Bank Statement, lease agreement, utility bill, documents showing owners of a fixed asset or Condominium Sale/Purchase Agreement

Easy Right?

All you need is a someone in the Thai Police, Army, or a Monk.  But did you notice in with all those requirements was a utility bill?  Having the electric or water in your name is the easy way.

The Bangkok Bank Savings Account A savings account can be opened with a minimum deposit of 500 Bt. Interest is calculated daily and will be credited to your account every six months. Accounts which become dormant with a balance below 2,000 Bt will attract a monthly service charge. When you open a savings account, you can opt to receive a handy Be1st Visa Debit card. You can use your card to withdraw cash, pay bills, or shop online or anywhere displaying the Visa sign. The Be1st Visa Debit Smart card is the first debit card in Thailand to use the latest EMV chip technology to keep your cash secure! This card can be used at Bangkok Bank ATM’s showing the Be1st Smart identification and online or at stores showing the Visa sign. [hr]

The Unofficial Criteria for a Bank Account with a tourist visa.

Many westerners staying in Thailand are doing it with renewed tourist visa’s, and have taken the time and steps involved to obtain a one year lease agreement or drivers license.  Having these documents does not guarantee (although it should) that a bank will give you a bank account.

As with many situations in Thailand, sometimes it is who you know rather than what you know, and sometimes it is how lucky you are on the day. It is up to the managers discretion as to who they will allocate accounts too.  Often it is also up to the manager to sign off on a credit card cash advance. You can greatly increase your chances of hearing the words “Yes we can open an account for you” if the manager or senior staff recognize you. Another great benefit is to have a local person or business vouch for you and introduce you to the bank manager. You can try several banks and see what happens, but when you do not fully fit the requirements sometimes a little sneaky planning is in order.

Preparing your request

Go to the same branch of the bank you want to have and account with (and we suggest Bangkok Bank and Kasikorn), a couple of times over a couple of weeks and get a cash advance on your credit card in person (Not via the ATM).  If you are told you can use the ATM machine you can say that you have tried, but you are not so clever and think it better to have a professional do it for you properly.  This also gives you the opportunity to gauge how well the staff speak English which will be of benefit on your future visits.

When the manager or senior staff come out to look at you to make a judgement on how much help they will be today, (and you will have dressed nicely to do this because you want to show the Bank staff respect).  You say “Kor Toad Na” Khrap/Ka (meaning I am sorry with the males saying ‘Khrap’ and females saying ‘Ka’ as a polite sign of respect), “I am confused and think you can do this better for me”.  Thanking both the manager and the staff for you cash. Do this 2 times, and then go to the bank with your credentials in hand and request opening a bank account.

While it is only required that you deposit 500 Baht to open an account, the more money you are prepared to deposit, the higher the chance of success.  Do NOT forget to dress nicely for the occasion .

You will need your passport and a history of living here for more than 3 months, and/or  visa’s showing you have made the financial commitment to staying longer.  A utility bill in your name and/or a copy of a year long condo contract is helpful.

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Want to come into the Office and talk to us face to face? No problem at all, just book an appointment online.  For initial consultations we have 15 or 30 minute time slots available.

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FILE PHOTO: People walk past a Skytrain (Bangkok Mass Transit System) construction site in Bangkok, Thailand May 13, 2018. REUTERS/Soe Zeya Tun/File Photo

BANGKOK : Thailand's economy is projected to grow at a faster pace in 2024 than 2023 supported by private consumption and tourism, but uncertainties remain, minutes of the Bank of Thailand's April 10 monetary policy meeting showed on Wednesday.

At the meeting, the monetary policy committee voted 5-2 to hold the one-day repurchase rate steady at 2.50 per cent, the highest in more than a decade, for a third straight meeting. Two members favoured a quarter-point cut.

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Bank of Thailand could adjust rates if outlook shifts: deputy governor

PM Srettha has pushed central bank to cut interest rates amid high consumer debt

WASHINGTON/BANGKOK (Reuters) -- Thailand's central bank, under pressure from the government to cut interest rates, could adjust monetary policy if the outlook for the economy changes and structural challenges clearly reduce its long-term potential growth, a deputy governor said.

The Bank of Thailand's monetary policy committee (MPC) is open to all input, but needs to balance immediate and longer-term economic factors when setting rates, Deputy Gov. Alisara Mahasandana told Reuters.

Prime Minister Srettha Thavisin, who is also the finance minister, has openly challenged the central bank over its monetary policy, repeatedly saying rate cuts would help the economy cope with high household debt and China's slowdown.

"The MPC welcomes and values input from all stakeholders ... But when it comes to a monetary policy decision, the MPC needs to weigh between short-term and long-term impacts on monetary policy objectives ... and they could have different views," Alisara said, speaking on the sidelines of the International Monetary Fund and World Bank Spring Meetings in Washington.

Monetary policy could be "recalibrated" if there was a change in the growth and inflation outlook, and if structural impediments "clearly lower our long-term potential growth," said Alisara, who is a member of the policy committee.

The central bank kept the key interest rate steady at 2.50%, its highest in over a decade, in a majority decision on April 10. The next review is on June 12.

The central bank forecasts Southeast Asia's second-largest economy will grow 2.6% this year and 3.0% in 2025, picking up from last year's 1.9%. Alisara said that while higher private consumption and tourism were expected to bolster growth, uncertainties remained, including how well its exports will recover.

She said annual headline inflation was expected to return to the BOT's target range of 1%-3% by the end of the year. Energy subsidies have kept consumer prices below year-ago levels for six straight months to March, driven by energy subsidies, but prices are expected to rise in May.

Alisara said negative headline inflation "does not reflect weak demand. It's not deflation."

The Thai baht is expected to be volatile, driven by external factors, especially dollar strength, she said. The baht has fallen 7.6% against the U.S. currency so far this year, becoming Asia's second-worst performing currency behind the yen.

While a lower-yielding baht lagged other regional currencies, domestic factors should be more supportive than last year, Alisara said, noting improved economic activity and Thailand's current account surplus.

Bank of Thailand ignores Srettha's pressure to cut interest rate

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