How To Open A Thai Bank Account In Thailand (2024)

How to Open a Thai Bank Account – Everything a Foreigner Needs to Know About Opening a Bank Account in Thailand

Having a Thai bank account is a great convenience if you’re a frequent traveler, or are planning to live or retire here. There are many facilities which are not available to those who only have an account from their home country and there’s a big chance that some foreign cards will be declined. It also eliminates the need to pay costly fees for international transfers and other fees such as ATM charges. The process is quite straightforward and will only take an hour or so of your time but there are a few things you’ll need to know first. Let’s take a look at what you need and how to go about it, and also which are the best banks to choose from.

Opening A bank Account – What Expats Need to Know

Having a Thai bank account is a great convenience if you’re a frequent traveler, or are planning to live or retire here. There are many facilities which are not available to those who only have an account from their home country and there’s a big chance that some foreign cards will be declined. It also eliminates the need to pay costly fees for international transfers and other fees such as ATM charges. The process is quite straightforward and will only take an hour or so of your time but there are a few things you’ll need to know first. Let’s take a look at what you need and how to go about it, and also which are the best banks to choose from.

Which Bank Should You Choose?

Here’s a list of some of the best banks to choose from in order of recommendation, however, they can differ greatly from branch to branch.

1. Kasikorn Bank (KBank)
2. Siam Commercial Bank (SCB)
3. Krungsri (BAY)

4. Bangkok Bank (BBL)
5. CIMB Bank
6. UOB Bank

Where Can You Go To Open A Thai Bank Account?

Unlike banks in many other countries, in Thailand you open an account at a specific branch. For this reason, it is best to choose it wisely, it’s often recommended to choose one located in a shopping mall as they are usually open every day of the week, barring public holidays. In our experience Kbank (Kasikorn Bank), Siam Commercial and Krungsri bank’s (Bank of Ayudhya) staff tend to have a better level of English although, again, this can vary from branch to branch. It is wise to visit the branch beforehand to test this out.

Which Account Is Suitable For You?

As with elsewhere in the world, Thai banks offer a variety of account types such as current, savings or fixed-term accounts. A savings account will come with a pass-book such as those issued for current accounts in places such as the UK,

Canada or Australia. You may also request a debit card although there will usually be an annual fee for this service. A current account will come with a chequebook and is normally used by those running a business. Those looking for a return on their funds may choose a fixed-term account which pays interest.

Most Thai banks have phone apps and many transactions are done via Prompt Pay which utilises QR codes for the instant transfer of funds, it’s a very convenient way of banking and almost negates the need for a bank card completely.

Required Documents to Open a Thai Bank Account

In order to open an account, you will need to supply certain documentation, this is standard practice for most official businesses in Thailand. The documents you will need are as follows:

You may need a couple of visits to a branch, firstly to make sure they are happy to open an account for you and secondly for them to confirm that no other documents are required. It is not unheard of to be refused, this does not mean you can’t open an account. Some branches are far more cautious about their dealings with foreigners than others, being in a more touristic area often helps.

If you need any help or further guidance with opening a bank account in Thailand, or if you need assistance with arranging a long-term visa, TMT Visa Services phu*ket is one of the oldest and most well-regarded companies in phu*ket when it comes to such services. If you or someone you know is in need of some help, please don’t hesitate to call or drop us a line here.

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