Opening a Thai bank account offers several benefits but foreigners often find themselves having a difficult time opening one or are unsure of what they need to be eligible for an account. We’ve provided the required documents to open a Thai bank account and a list of banks that are the easiest to open an account with minimal documentation.
As a foreigner, there are two major categories you can fall into when opening a Thai bank account:
1. You have a work permit (obtainable with a non-immigrant B visa)
2. You do not have a work permit
Expats with Work Permits
If you fall into this first group, you are eligible to open a Thai bank account at most banks. In many cases, a passport and work permit will suffice in opening a savings account. However, check with each individual bank for any additional required documentation (i.e., proof of resident status, certificate of residency, etc.)
Walk in, grab a number from the number generator near the entrance, and wait to be called on. It’ll take an hour or less to set up an account. The bank official will make photocopies of your documents and have you sign a few forms. Don’t forget important contact information, such as your address and phone number, too.
- Bangkok Bank
- Bank of Ayudhya
- CIMB Thai Bank
- ICBC
- Kasikorn Bank
- Bank of Thailand
- Siam Commercial Bank
- Krung Thai Bank
- Siam City Bank
- TMB Bank
- UOB Bank
- Kiatnakin Bank
- Thanachart Bank
Additional fees will vary for each bank. These include yearly fees, replacement ATM card fees, account cancellation fees, and ATM withdrawal fees. Interest earned per year will also vary if offered at all.
Expats and Travelers Without Work Permits
Most people fall into the second group. This includes expats possessing non-immigrant Thai visas including retirement, education, dependent, or a short-term Thai tourist visa.
Banks that do not need a work permit to open an account include:
- Bangkok Bank
- Kasikorn Bank
- TMB
- UOB
Documents to Open a Thai Bank Account
In most cases, banks want to see your passport and either a second form of identification, proof you are currently residing in Thailand, and other documents such as:
- Reference letter from your embassy in Thailand, a reputable Thai person, your university, or pending employer
- Thai drivers license
- Thai house registration document (tabien baan) or Residence Certificate
- Letter from your current (foreign) bank
Bangkok Bank
Minimum Deposit: 500 baht
Account Type: Savings Account
Required Documents for Foreigners without Work Permits:
- Passport
- A reference letter from one of the following:
- Foreigner’s embassy in Thailand
- An overseas bank where the foreigner holds an account sent via SWIFT
- Trusted individuals such as a Bangkok Bank staff member or customer, director of a private company, permanent residence in Thailand, government or private educational institute in Thailand
- An employment letter from the company from which the foreigner is applying for a work permit
- Document showing ownership of a fixed asset such as a condominium sale, purchase agreement, or property reservation agreement valued at 100,000 baht or more with a reference letter from the property developer
Required Documents for Foreigners with Permanent Residence in Thailand
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- Passport, Certificate of Residence, or Alien Certificate
- House Registration document (tabien baan)
Kasikorn Bank
Minimum Deposit: 500 baht
Account Type: Foreign Currency Deposit or Savings Account
Required Documents for Foreigners without Work Permits:
- A copy of foreign national ID card or passport
- A copy of house registration or lease
TMB Bank
Minimum Deposit: 500 baht
Required Documents for Foreigners without Work Permits:
- A copy of a citizen ID card or an ID card with a photograph issued by a government agency
UOB Bank
Minimum Deposit: 50,000 baht (yes, four zeros)
Required Documents for Foreigners without Work Permits:
- A certified copy of passport
- Either a work permit or student identification issued by local Thai institutions
| NOTE: We’ve heard wildly varying experiences from people trying to open a Thai bank account without a work permit. It may take more than one attempt because the bank staff may ask for a work permit even when it’s not required. We recommend speaking with bank staff that speaks English well and show them the official rules from the bank in question (linked to above). Keep in mind this is Thailand! |
The Benefits of Opening a Thai Bank Account
No ATM Withdraw Fees
No more 220 baht charges!
No Conversion Rate Fees
No more loss due to 3% conversion rates, whether from an ATM withdrawal or from currency exchange.
Access to Thai Debit Card
Issued as a Visa, a Thai debit card opens up opportunities for cashless transactions and online purchases. Keep in mind that cards branded with “Electronic Use Only” are limited to in-store purchases.
Transfer Funds In and Out of Thailand
Have means to transfer funds from your home country that are accessible in Thailand.
Our Experience Opening a Thai Bank Account
We first tried applying for a joint bank account at Siam Commercial Bank (SCB) at the Central Airport Plaza Mall in Chiang Mai. I was eligible to open a bank account under my name with a passport and a work permit. However, to open a joint account that included Chris’s name, the bank wanted a Residency Certificate (i.e., proof that we are living long-term in Thailand).
We didn’t have one on hand, and since it takes ten business days to get one in Chiang Mai, we made a second attempt at opening a joint account at the Kasikorn Bank a few floors up in the same mall.
Upon entering the bank we were asked if we had a work permit (yes, even though Kasikorn doesn’t need it), but we were never asked to show proof of it during the application process. We also did not have on hand a lease agreement or utility bill to prove we were living in Thailand. Instead, we simply wrote down our address and they accepted it.
It took about 45 minutes to set up the account and to register two ATM cards that we received immediately. They cost an extra 500 baht each.
Do you plan on opening a Thai bank account? If you’ve done so or have tried, how was your experience?
Hi officially I am not a retired person. I have just won the lottery and won a hugh amount so that I simply dont have to work anymore. So I dont have monthly income but I can live throughout towards my official retirement age without monthly added income. Which VISA should I need and which bank is the best to put all my money on an account if thats possible?
I managed to open a bank account in Bangkok Bank with the document from the embassy that you wrote aboute.
hello, I wanted to open an account with TMB bank. I have all the necessary documents like visa, passport and work permit. I hold Nepalese passport and the staff in TMB said i can’t open the bank account because she cannot find “Nepal” in the system. I found it too weird as i already have an account with SCB bank with no hasstle> is there any particular reason for this?
No reason that I can think of. However, Thai people follow protocol and if anything falls outside that box – in this case, not being able to find Nepal on the list – workers will not make an exception. We don’t know if it’s because there was an error entering country names into a list or if Nepal was specifically left off to deny their citizens bank accounts at TMB Bank. We’re sorry to hear this!
Hi! I’ve been living here since 2014 (Retirement), BanChang / Rayong and now since 2 years in Udon Thani. I have opened an account with Krungthai Bank Ban Chang / Rayong since 2014 with Passport and Tourist Visa in the presence of my partner. Debit card of your choice. I would be interested in a TMB account because of the non-existent costs. Can you confirm that it works that way? I asked 3 years ago in a smaller branch and they said – only with Work Permit.
Our post lists TMB as a bank that requires foreigners to have work permits. Please read the section titled “Expats Without Work Permits” for banks best suited for your situation.
In your postet list you have TMB without Work Permit thats, why I ask! Ok thank you-
I opened a joint account with KrungThai Bank and found out that with KrungThai Bank you can not get online banking and you can only receive one ATM card. Do you know of another bank that does offer online banking and two ATM cards for joint accounts?
We opened a joint account a Kasikorn and received two ATM cards. It also has online banking.
Hello,
I was wondering which is the best bank in terms of access to ATMs (I.e. Number of ATMs) and no charge for ATM cards in BKK?
Thanks!
Not sure which bank has the highest number of ATMs off the top of our heads. A few minutes of Googling should answer that question – especially since Bangkok is HUGE and we’re not sure wheat neighborhood you’re staying. If you are asking for an ATM that doesn’t charge for foreign credit cards – sorry, there are no longer any companies out there that do that (AEON used to). If you are using your Thai debit card to withdrawal from your Thai bank account, the fees range from 0 to 20ish baht if you use a different bank but it’s… Read more »
Hi, I am interested in opening an investment account with any of banks operating in Thailand OR a reputable online stock brokerage firm that can help achieve my goals in investing in securities in Thailand .Bangkok Stock Exchange.And/or through that security firm/bank in Thailand venturing into other nearby Asian markets,for instance Vietnam.Most of the comments concerning financial Thai issues so far have been concerning how to get a VISA card etc etc;my concern is pushing a few steps further and get a healthy return on equities in Bang Kok.Does anyone have a working experience f such ventures,even provided that one… Read more »
Wow. May we suggest hiring a Thai financial adviser?
I went to the same branch but they need 1 year lease agreement which i don’t have, so if you dont have work permit will need 12 months lease agreement, can anyone help me with lease agreement i can donate him for the help.
You mean, buy a fake lease?
Hi, i just succeed get my Thai bank account. It is KBank in Sukhumvit 57 Branch (location in between ThongLo and Ekkamai station). Brought my passport and lease agreement (had to change the name on the lease agreement to mine – to make it easier). Deposit 10.000 baht plus 550 baht for debit card. Got my bank account, bank book, debit card and internet banking. The wait for the customer service was like forever, but feel worth it in the end :)
Thanks for mentioning the exact branch and the application requirements. (We love details). Glad to hear setting up your new Thai bank account was a success!
Could you advise me if you are about to retire what would i need to take with me to open is the ID both Australian or do i need to have a lease or own a unit there
Regards john
Angela, can you share the link forum or the address of KBanks in Sukhumvit? I don’t have work permit but i have a lease agreement for a year (but on behalf of my husband’s name). Thanks
Read through this forum, some specific locations are mentioned: http://www.thaivisa.com/forum/topic/703223-opening-a-bank-account-on-a-tourist-visa/
I tried twice at K- Banks in Bangkok to open a savings account in my name only and got turned down no work permit. The year was 2015. Jeff
Ack! We’ve seen on forums before of people listing the KBanks on Sukhumvit that were cool with foreigners. Did you ever find one?
I was able to open a Bangkok bank account with no work permit I was refused by 4-5 “falang friendly banks” until I prevailed all the bank needed was my passport (possibly showed them a UK visa card) & a document from immigration providing “certificate of address” it cost 300 baht for a visa ATM card and came with a passbook which is easily updated & is valid for 5yrs.. My only advice would be taking a thai bilingual talking (girlfriend/boyfriend) just too help both yourself & staff the terms/conditions as it did take 2 visits too said bank before… Read more »
Such a classic example of applying for an account until *someone* says yes, even though rules haven’t technically changed! Being persistent really paid off! Going with a bilingual friend or significant other is a great tip. They can help with the nuances of the terms and conditions, or maybe push a little to help get your account approved.
Hi! I have a few questions regarding your Kasikorn bank account.
1) Does it come with online banking in English?
2) Can someone from overseas simply deposit USD funds on the account? Do they/you have to pay a fee for this?
3) Is it safe? As in, do I ever risk of getting an account closed or something if I stop using the card for a longer period of time (several months), or run into visa issues, or something like that?
Thank you so much! Very good info on here.
Christophe
1.) Yes http://www.kasikornbank.com/EN/ServicesChannel/SearchServiceChannel/Internet/Pages/KCyberBanking.aspx
2.) Yes, you can wire money from the US to your Thai bank account, but as with any bank wire, there is a transfer fee. The amount varies from bank to bank.
3.) We don’t know the circumstances that would cause you to get your account closed. A few months of inactivity won’t get it closed (as from our own experience), and we don’t know how a visa issue would cause someone to seize or freeze your account. This may be something you need to ask the bank directly.
Thanks for commenting!
Please let me see the account opening form(KYC) of Siam Commercial Bank in English. I want to open an account at SCB in shortly time.
Thank you,
Myo
If the account form not on their website, we suggest contacting their call center at (027) 777-777 and requesting them to send you a blank form. Good luck!
Can anyone tell me if a Thai (Tharnachart Bank) ATM/Debit card can be used in the U.S. ATM machines. It has Cirrus on the back which most ATM’s in America have also. Need to know ASAP. Thanks.
We recommend contacting your Thanachart bank and asking yourself since every bank is different and because we haven’t tried it ourselves with our Thai debit card in America. However, you may be able to access your money in the US but be charged an ATM fee and an international fee (which is what we can do with our American debit card in Thailand). Oh, and it’s good practice to contact the bank anyways to let them know that you are conducting international travel in the US – just in case they have a security policy and freeze your card!
If you’ve a PayPal account, you can transfer money from that account to Thai or US Banks free (amount has to be more than 5000Baht per transaction). I’m a Thai and I’ve an online store that accept credit card payments via PayPal and this is very useful. A few years ago theres a method to transfer money from the US to Bangkok Bank in Thailand without a fee. Just transfer money to BKK Bank L.A. Branch (indicating your BKK Bank Account in Thailand). This takes a few days for the money to be transferred. Not sure whether it still works… Read more »
Awesome. Thanks for the tip! We’ll look into it.
I recently opened a bank account with SCB, I was rather alarmed when they said I had to pay 599,for an ATM card! After some questioning I was offered a card for 350 bht , without insurance. They couldn’t explain what the insurance was for. They also didn’t let me see the terms and conditions of my agreement, which I found odd!
Thanks for your helpful tips :)
Why are ATM cards so expensive?! We wondered the same things after paying 500 baht each for ours! We also didn’t see the terms and conditions, but we only assume that it was written in Thai :/
Hi Chris and Angela, More than anything I feel the “this is Thailand” advice works the best ;) Seriously, you did a fine job covering this topic and sharing all requirements but when it comes down to it, speaking to an English speaking worker and simply persuading in such a nice way – always offering the Thai the upper hand, so they can save face – is the way to go, to get what you want. I recall receiving money from someone at a bank via Western Union. Or it was a different service I think. A few workers wouldn’t… Read more »
Yeah, we agree that this is one of those situations that the TIT method works best. Sometimes, even though we’ve been here for awhile, we have to stop a moment, take a deep breath, and wrap our heads around everything. Glad to hear you got what you needed by smiling and a little humble pleading!
Hi, about 6 years ago, I opened an account on Phuket with Kasikorn Bank while on vacation. I used the Holiday Inn address as my address and they took it.
I would still have it today BUT the one important thing I needed to know was WHEN you open the account you must get a pass code to deposit funds electronically over the internet and I did not so the account was eventually closed by me on a following trip.
Thanks for the tip in requesting for a pass code to deposit funds electronically when you open an account. That’s helpful to a lot of people who want that flexibility and access with their money.
Opened an account with Kasikorn last month in Rayong, and all went well. I was originally going to set up a joint account but we were informed that with joint, you weren’t eligible for cyber banking. I need CB to transfer funds back home to the ol’ student loan. So, my husband is on his own. He (no work permit) had to get a document from immigration stating he is a long term resident (had to show our lease). I didn’t have to show it, as I have the work permit! Hopefully all goes well for him this week.
We opened up a joint account, then later realized that I couldn’t deposit a check in my name (and not Chris’s) stamped “A/C Payee Only”! I had to go back, open a solo account, and only then could I get my money! Good luck with your husband’s account!
Your posts are always so helpful I’ll be sharing this…
Awesome, thanks Jameela. Lots of appreciation your way!
I think it was July 1st the new law went into effect from the USA that says all Americans opening a bank account overseas, that bank will have to report to the USA….. IRS the yearly bank records for that persons banking there. What I heard was foreign banks will not open accounts for Americans any longer as they don’t want the extra paper work. My girl friend also said that any new account opened by a Thai citizen from now on has to fill out a questioner that ask if they are in any kind of a relationship with… Read more »
Larry, the reporting treaty, FATCA, has actually been around for much longer. It has been a few years now (since 03/2010). Apparently, more than 80 countries are complying as they have been threatened with penalties or even outright exclusion from US markets. Thai banks have not stopped providing accounts for Americans at this point though. Some may be more hesitant than others, but we personally know Americans who have opened accounts within the last week. It should be noted that banks only have to report accounts that have cumulative balances totalling more than 50K during each year. It should also… Read more »
thanks for this update good to know, but I will probably just stay under the radar as much as possible. The less they know the better I can go.
Hi guys, my husband and I both opened separate accounts with Bangkok Bank in Chiang Mai December 2013 very easy and quick. Showed passport and licence only. Lovely bank manager gave us his mobile phone number, offered cold drinks, ATM cards on the spot. What more could you want. All ready for our move to Thailand from Australia in a few months time. Cheers Helen. Thanks Chris and Angela love your site very helpful.
Thanks for sharing your experience, Helen. It sounded wonderful! Glad you both had such a smooth time opening accounts in preparation for your move here.