HOW A FOREIGNER CAN OPEN ANY BANK ACCOUNT IN THAILAND
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- Опубліковано 11 вер 2024
- Opening a bank account in Thailand as not as difficult you might think. I have now got a second bank account and in this upload, I explain how I managed to open a second bank account by myself and what documents I had to produce.
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The bar girls have 2 bank accounts .one for showing you they only have 1000 baht and the other one where they keep their millions
Absolutely true Paul
A huge percentage of the bar girls are compulsive gamblers and their "millions" disappear rather quickly. After so many years (and sagging breasts) they wind up as hotel maids. Yes, I have seen and spoken to many!
You cynic, you…🤣
I'd like to add from my experience that you should open both accounts in the areas where you live. The reason being, you will be charged an average of 30 baht if you withdraw money from a branch or atm in another suburb even from the same bank. Also, if you are depositing in another suburb, you will be charged a very small percentage of the transaction, which does add up.
Thank you for all the videos. You are the reason I am now in Thailand. You kept me sane as I was going thru a difficult divorce. I'd like to buy you a meal one day.
Cheers
Cheers
Or better still, use your phone to withdraw money.
You don’t get charged the ATM fee if you use cardless withdrawal
Thank you for the update.
I find the Bangkok Bank very good and easy to use. Finger-print login, the homescreen shows a current balance and itemised transactions are simple to follow.
...Krungsri Bank owned by Mitsubishi also good
Two bank accounts is a great idea. I did the same thing living overseas and found myself saving more because I could see my limit better 👍
Very useful info. Also worth mentioning is that you can't open a Thai bank account until you're physically already in Thailand. Krung Thai Bank have a branch in London but they wouldn't let me open an account before I was in Thailand.
Good point!
@@ThailandBound I thought opening an account with Krung Thai Bank in London would be a crafty way of dodging some paperwork!
My goodness! Why not just go online and look at your statement, filtered for dates from the beginning of the month to the end of the month. It will how exactly what you spent in a month.
That's not what I like to do, having a 2nd account suits me.
ha, I was thinking the same thing.
Is it a catch22 ? Don’t you need a bank account to get a retirement visa but you need a retirement visa to get a bank account???? Something wrong there.
Nothing is ever simple in Thailand but if you go to see an agent they can sort it out for you
@@ThailandBoundyes at a hefty cost.
@@billybob7522How much?
By tourist visa I think you meant a 30 day visa exemption and not a 60 day tourist visa?
According to the agents I’ve spoken to, you can open a bank account on a 60 day tourist visa.
Before yes, now no. They keep changing the rules
Yip, you are correct. My mate opened a Bank account last week on a tourist visa with help of a agent in Pattaya
May I please have the information on the agent @@MarkDay.
Thanks for the great needed opportunity info as I am looking at opening a Bank account when I officailly on retirement . Much appreciate it
Best of luck!
Two other reasons to have more than one bank account are that the Thai deposit insurance scheme only covers 1 million baht, so that's all you'll get if a bank collapses, anything above that amount will probably be lost (not likely but does happen). Also if your account is hacked or your card skimmed it limits your exposure to your spending money.
absolutely. And big bank failures can happen, if they are in too much debt or negative liquidity, as recent events in USA have shown.
Peter I was really lucky and opened a Thai bank account more than 10 years ago on a Tourist visa.
Glad you didn't shut it down very useful now
I did the same thing about 15yrs ago too using just a visa exemption and a Thai phone number. So glad I did that now, sounds much more difficult these days.
The second thai account stores a large amount of static cash that goes nowhere thai banks pay nothing Interest rates you would be better off leaving it in the UK and transferring it from there and getting 5 may be 8% on it as well take it easy
@paulb
And pay Thai tax on it as proposed ftom 1st January 2024 as proposed by the Thai government??
@@robertgrey6101 it does seem the thais constantly play with immigration rules to eek out as much from farangs as they can some times ,
If you do that after January you'll be text on it in Thailand
Nice one Peter just what is needed clear and concise .
Hi Peter, a thing also that i feel is important regards having more than one account that is, if a bank goes bust you are only covered for around a million baht, so better to spread around if you have more than a million to deposit, they do go bust as we all know,,
You might also want to open up a third bank account for your "self insurance".
I actually like the rainy season the rain is warm you can walk get wet and its warm
Then you go into a shopping mall with air-con and get frozen to death 😂
I will be trying next week to open a non Resident Account on a tourist 30 day Visa as I heard it is possible. The advantage of a local account is I could transfer Baht to the bank from abroad when I take a holiday and avoid the high ATM fees by using a local ATM card to withdraw cash. it will be interesting to see how it goes
I'd be really interested to know how you're going to do that?
I will update you on my progress. Google told me that a few banks will allow a foreigner to open a Non Resident Account. Until i visit the branch i wont be sure if it works or the complete documentation required but i am organising a Bank Reference letter from a bank in my homeland to be prepared
@@ThailandBound
Top man Pete
Always with the necessary info
Thanks 👍
Nice one Pete. Quality info mate.
An image is worth a thousand words: that is Thailand, beautiful girls, lots of men that take money out of an ATM and pass $ to the girls 😆
2 things I'd love to do is 1 open a Thai bank account, 2 is get a Thai drivers licence, in the meantime I just bring over cash and go to Superrich(the green one) and get IDP before leaving Australia, Rangsima enquired about me getting a licence, but have to live there.
How do you bring your money here ???? I presume you're not bringing cash on the plane, and banks usually will NOT wire that much money to a country like Thailand. Thank you !
Wise app
Interesting video and great advice. Cheers. 🍻
Thank you! Cheers!
I love watching your videos they're very informational
Glad you like them!
Also, is it really "safe" to keep so much money there sitting in a Thai bank account ?
I don't see any reason not to
I went to K bank today. I have a 60 day tourist visa. I had lots of documents for them including Tabien Baan, Marriage Cert., US. bank records, etc. They refused to open the account. I told them I wanted it so I could get a retirement visa. No way they said. I see a lawyer Monday. Today is 2 Nov. 23.
They don't seem to have hard and fast rules you can go to One bank and they tell you one thing you go to another branch and they tell you something else personally I would have tried two or three before you gone to a lawyer
@@ThailandBound The lawyer told me the rules changed last month. The lawyer is helping me. I will keep you up to date.
in order to get the marriage visa, you'd need to have the non-immigrant O visa first. Not a tourist visa. With the non-immigrant O visa, you can open the bank account.
Great video and great information 😀
Thanks for watching
@ThailandBound always welcome 🫡
Hi Peter thanks for the info, it does help one to play their ways to live in Thailand, yes I will be retiring to Thailand so with your info and help it will make the transition a lot easier to work on knowing what one has to do rather than to work from scratch, so I welcome all and any info on retiring to Thailand as I'll be base in Chanthaburri
Thanks Keith I'm glad the videos help
Great idea, Peter. I'm waiting to do the same once I get my yellow book, I can then apply for my thaì driving licence and ID card.
You won't get a Thai ID card unless you speak Thai, they only give out about 100 Thai IDs to foreigners a year and they're very, very difficult to obtain. Simon my friend who has been here 12 years and speaks Thai is in the process of applying for one.
Its a pink Thai ID card for expats living here
Once you had your yellow house book, you can get the pink ID card regardless of you speak Thai or not....
When it’s time to move to Thailand, I would like to have 2 bank accounts, one to keep my 800,000 baht in so I can’t touch it and i the other as my daily use account.
Great review. Love your channel. Question: I am receiving a six month multiple entry visa issued by the Royal Thai Embassy in Canada soon. Is this visa sufficient to open a bank account? I do not want to go to the trouble of a retirement visa and additional expense.
It depends what kind of a Visa it is as far as I'm aware any kind of tourist non-exempt stamp is not eligible to be able to open a bank account
Here's the problem. You say you can open the account if you have a retirement visa. To get the retirement Visa you have to open an account and deposit money in it. It seems the current requirements are impossible.
Thai legal can open up an account for you
You can open the bank account with the Non-immigrant O visa, which you need to get in order to extend it to the retirement visa. With the non-immigrant O visa, you can go to the bank, and take the other papers with you like your passport and proof of residence and they will open the bank account for you.
The same thing applies with a marriage visa.
I think you can get the initial visa without a Thai bank account in your home country. Did you check the local Thai embassy website.
if your current account has the balance of your funds.. why not open a saving account as well.. move your funds into the savings account and monthly top up into your current account ?.. personally after 20 years in Bkk I have never had a bank app on my phone.. cash in pocket only.. that's the max I can spent or lose.. lost phone just opens up too many possibilities that do not want to be thought about !
We all like to do things differently I've chosen the way I like to do it
Hi Peter you look so well love the video keep it up
Thank you, I wil
Good way to control your budget staying on track
hi peter i read on face book that there has been a large petition handed in to the thai govt protesting against central bank digital currency and digital wallets , is there any truth to this wats going on in thailand regarding cbdc , how will this effect expats like you and me emigrating to try to avoid this back home in england , can you or mali get to the bottom of it please and do a little video update cheers from harborough
I haven't heard anything about this and it's not something I'm very knowledgeable about
It's true, I saw it first hand a couple of months ago on my Thai girlfriends phone. Krungsri bank is the issuer. It's terribly Orwellian. At least cash is still used a lot but if they start giving away CBDC money it's going to increase the uptake a lot and give the excuse to start limiting cash.😔
Good idea.
I opened my account at Bangkok Bank in Pattaya on September 21 using a 30 day Visa. Needed my passport, lease agreement, and Thai phone number. Was told if staying in a hotel, just bring a card or letterhead from the hotel with the address.
You didn't have a Visa, you had a tourist exempt stamp. That was possible in the past but they've changed the rules you won't be able to do it now.
@@ThailandBound I just tried to open a Non Resident Account on the 30 day Tourist Visa at Bangkok Bank. The staff member told me that 6 months ago it was possible but the Thai National Bank has now changed the rules and it is no longer allowed.
Which branch, please.
Pete, there seems yo be controversy on Thai Government taxing money earned in the retirees home country.
Apart ftom prospective retirees going to Thailand contacting the Thai Embassy or Consulate in their home country to get some, hopefully, clear information on this matter, do you have knowledge of good solicitors in BKK who can give some clarified information on this matter ??
I'm sure any advice would help all those interested in retiring to Thailand.
No one has any information on the new tax laws good solicitors or bad solicitors included the reason being is because the Inland revenue of Thailand hasn't announced anything other than their planning to tax foreign income from January 2024 they haven't specified how the numbers will work and who will be taxed So currently nobody has any information other than the law is coming into place in January
@@ThailandBound
Many thanks for this clear and clarified reply.
My hope is expats planning on retiring to Thailand may see and read your reply.
Cheers and keep up the good work on your stories and news.
Would be interested to explain getting your work permit.
I was lead to believe it couldn't be done as you was on a non imm O retirement visa.
Originally I was on an old Visa with a retirement Visa that has now changed over to a work permit as I've managed to get contacted who have helped me do it
Hi Peter, wouldnt your wise account in effect be the same as a second thai account because you can have funds sitiing in wise in thb or your home currency and i think the interest rate in wise is much better? Or am i missing the point? Genuine question not trying to undermine your information in the vlog? Regards
It's just a lot easier for my own personal needs to have a second bank account
Show your good heart and give all your money to your Tilak and she will do the rest… just ask for a post-it note once a year for a balance update 🤣🤣
It's impossible on a tourist visa. I have tried because I am planning on retiring in Thailand. I wanted to set up direct deposit with my Social Security, and they refused
Thai legal protection can set up a bank account for you on a tourist visa
Hi Peter, Are you able to set your videos and livestreams to downloadable ? It’s just I have UA-cam premium and you can save them to your watch later and view them offline if you don’t have Wi-Fi etc, I’m flying out next week and wanted to watch this weeks livestream on the plane 👍
Yes I know what the view is download the videos but I just don't know how they do it I've never tried as they're my videos
He doesn't need to set anything. UA-cam Premium allows all videos by default to be download for offline use. I use it all the time and works on his videos
@@G13RS general videos are ok but the livestream including the members ones aren’t though ?
Thank you Peter. I thought if live in a rental thing the COR (certificat of residance) or the yellow book from Imigration necessary. Also take your ID card from homecountry or/and driving license. The need a second document to check identity. Mariage documents from Thai wife often also helpful. Sometimes online appointment demanded. Much luck everybody
No they only documents you need are the ones I mentioned in the upload you don't need anything from your own country other than your passport
@@ThailandBound ... friends of mine were asked for ID card and COR
The rules change, they never match up like in the West
For the residence address can I take my friend residence address but her province is not the same as the one that I will open the account?
Nope
So you need a bank account to get a retirement VISA, but you need a retirement VISA to get a bank account?
How does that work?
Nothing in Thailand is ever simple but an agent can sort it all out for you
@@ThailandBound How does an agent solve this chicken egg story?
They have friends who work at the bank. Bribes. @@markverhoeven7518
You'd have to ask them that
I think your strategy works in anywhere you live.
Hows all the investors at Fox Farms going? 😢 I hear they won't get their $ back for 3 years..... ouch
I wouldn't know, I don't own the business, you would need to write to the business owner.
@a..c..2726 Where did you hear that? What is your basis for making that statement
Is there a way I can open the account with the assistance of that nookie in the thumbnail?...
I was just there in October 20 to November 15 and I went to the bank to try and open a bank account on a tourist visa and the all refused me to open a account ... Because I was just on a tourist visa . At least inside the central festival mall !
i had a bangkok bank account , it closed during covid because i couldn,t holiday there, not being used they said i need to go longer than 30 days, get a letter from jomtien immigration then pay £170 to open it up again.
Have you got a yellow book and ID card
No I don't need them I've got a motorcycle driving license a car driving license to bank accounts and my residency certificate that's all I need
Thank you.
You're welcome!
I use prompt pay often.
Great update Peter 👍
Why wouldn't Thailand let foreigner's on a tourist visa open up a bank account? You would think Thailand would welcome the influx of money into their banking system from anyone/everyone willing to leave money in Thailand, right?
Could be any number of reasons, their restrictions and frequent about faces are curiosities to expats and visitors. Could be they want to encourage more ppl to stay longer & not disincentive them. Or, they may fear an influx of Indian or Chinese depositors. Or maybe it would constitute a mountain of paperwork on behalf of the government or the banks. I always wonder if their math algorithm on increasing the retirement visa fee, was based on the fact what they'd lose economically in ppl not getting one, is compensated by charging the ppl who do, or are already here, more
in 1997 I had a thai bank account on a tourist visa. A few years later they implemented laws to stop that and it was to combat money laundering. This was about the time that the Russians discovered thailand and were coming in numbers.
@@tookay5 I figured it had something to do with an immigrant tourist demographic
It is reporting requirements. American and other govs require foreign banks report them what their citizens hiding in a foreign bank. That adds additional paper work and risks for the banks. So they will only open a bank account if they know large amounts of money will be moving through to make it worth the trouble.
There is no general rule. Each branch manager decides on his own whom to open or not to open account. Thus you will hear some people able to open even on 30day stamp. You need to figure out which branch would do that.
Also citizens from countries which don't require foreign reporting can open accounts much easily.
Is it possible to open a Thai bank account if you are on an education visa? Cheers!
I don't see why not! Please contact Peter from Thai legal Protection. There's a link pinned to the comments.
@@ThailandBound cheers mate!
I will be living on my boat, so no rent receipt, water bill, so on. I do plan on getting a retirement visa but how will this affect me getting a bank acct.?
... Imigration will ask you for an permanent adress for very very sure
I think you're only auction that is to use an agent who can provide a contract and an address
So is your boated moored in a particular location and you pay a fee? wouldn't this then be considered an address? Just a thought??
Should I transfer 4 million US into a Thai bank? Or just part of it?
I have zero market funds... All cash
Please get professional help that's a lot of money I don't want to give you wrong advice
If he had 4 million he wouldn't need to ask your advice unless he win or inherited it😂😂
So if you need a bank account to apply for the retirement visa but can’t open onion a tourist visa what the solution?
An Agent.
well it used to be that if you had a 60 day tourist visa issued from the thai embassy in your country, then you could open an account. That gave you time to get a leased apartment and a bill to show. You couldn't do it with a 30 day visa on arrival. But sounds like peter is saying that even that is no longer possible.
Thanks, looks like if you want to do your own retirement visa then at the very least you will have to pay an agent to open your bank account.
Do either of your accounts pay interest?
Very minimal
A paltry 0.25-0.30%.. 😢
Hello Peter..i have some questions for you.kindly help me pls.
peter@thailand-bound.com
is it possible to open bank account if I’m under 18?
If you contact Peter from Thai League or he'll be able to answer that question the link to his website is in the description of the video
PETER - Hope you see this message.
I came across your channel a recently and been watching a lot of your story vids. I will be visiting Thailand for the first time in December. Was wondering if are open to hang out and show me me the ropes since I believe you have met some of your fellow youtuber viewers before.
Also curious if know of any useful reddit groups or sites to connect with foreigners in Thailand (and Philippines) to see if I can connect with and hang out with them.
I could provide my spam email and move from there if are available.
I don't mind hooking up for a beer when you're here if I'm free but I don't really do Pub crawls or bar crawls anymore
@ThailandBound yeah not a problem. It'll be nice to just meet up for a drink. I don't really drink a anyways but a beer or two won't hurt. Gotta thank you for the service you provide to your fellow mates here on UA-cam. Much appreciated. What city are you staying in?
I live in Bangkok, just off Sukhumvit road near Nana BTS
Hi Pete . Can a Thai GF help and assist with opening up a Bank account by using her details of identification of the property were she lives as to say that is my property of stay living with her . Thanks great videos
No that wouldn't work unfortunately
Hi. This used to be doable as i did it. However Pete is correct, this is no longer possible. I have just left a comment on the feed explaining my own personal experience of renewing my account (bank card) despite not living there. In short , because i already have an account , even though i dont live there i can still use it but renewing it wasn’t a straightforward gimme by any means.
How much do agents charge to open a bank account for someone on a tourist visa?
Please contact an agent directly by email and they will give you that information it's not something they wished to post in a public forum
@@ThailandBound ok. Thanks
@@JohnArmstrong_ I've been given quotes from 4k up to 8k.
@@uksoul2001 Thanks 🙏
I don't know who's giving you those quotes but I don't know what they're talking about if they say 4k to 8k
I got Bangkok Bank account for my visa in Pattaya moved to udon thani put a deposit of 200bt in and I got charged 20 bt for putting this money in😢
Yes it's a strange rule they have here if you use another bank there's a service fee of 20 baht
@@ThailandBound same bank but different branch you mean?
How did you get your work permit
@@ThailandBoundI wouldn't put that out there for everyone to read, Peter 😊
Yes indeed, it's gone now.
Will my Chase accounts not work in Thailand??
Yes your cards Etc will work but you'll be paying a lot of money every time you withdraw funds from an ATM machine
Charles Schwab Bank pays you back at the end of the month any fees charged by ATMs. Love it.
@@JohnArmstrong_ I would double check the exchange rate they apply when you pay or withdraw money in a foreign currency. You will not love them anymore…
@@dannmm6745 can you give an example?
Is it worse than changing worn $20 bills? They love the crispy $100s but you get old 20s from USA ATMs
But do you first need a bank account to enter into a lease agreement??
No you don't need a bank account to enter a lease agreement on an apartment
Don’t visa companies help you with this when you apply to live there permanently?
Yes they do but a lot of people come here and want to open up bank accounts but don't necessarily want to retire right here full time
Peter is that your condo, why nobody swimming 🥽
Yes, the swimming pool is hardly used...Always no people when I go up to the roof.
@@ThailandBound can you lend me your key card 😂