What’s needed to open a bank account?

At this point, for tourists, Thailand is a country of perfect nuances. So, the image of life is shaped by its natural beauty, chromatic culture, the warmth of its citizens, and tropical weather. Even though, this location offers expats the chance to find their retirement home, start their desired business, attend a prestigious university, or find their love of life.
You never know what a trip to Thailand can bring. After that, you can fall in love with the country and want to establish your home here. So, if you’re worried about cultural barriers or unfamiliarity with Thai regulations and language, there are resources to help you navigate these situations.

J&E Concierge is a Thai agency located in Pattaya that helps non-residents with a list of services for living in Thailand.
In short, our assistance and guidance provide comprehensive information on obtaining Thai visas, bank account assistance, and other related matters. We will explain to you what you will have, and eventually assist you with your purpose.

Most foreigners who pass the country’s borders are tourists who come to Thailand on tourist visas. Moreover, these documents allow them to explore Thailand in all its amazing ways. This document comes with a 60-day permission to stay.
For instance, you can explore all the tourist attractions in Thailand or concentrate on a specific area. Even more, living in this area doesn’t require a significant amount of money, but some strategies can potentially lower these expenses. So, the most well-known method is opening a Thai bank account. For that reason, you will pay lower fees at ATMs and for exchanging your home currency.

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At this point, expats who have a longer visa in Thailand enjoy a much easier process for opening a bank account in Thailand. As most of them have a work permit or a residence here, getting a Thai bank account is simpler. However, even in this case, there are some strict regulations for foreigners who want to open a bank account in Thailand.
Below, we provide all the information you need to open a bank account and the locations where you can do so in Thailand.

What’s needed to open a bank account in Thailand?

Whether you will be staying in Thailand for a while or for a short time, you will probably be interested in opening a Thai bank account. Even more, this is essential for avoiding excessive bank and ATM fees. After you get your Thai card, you will be able to handle your finances more easily, make savings, and send or receive money from abroad.
Every bank in Thailand has different procedures for creating bank accounts for non-residents. Even different branches of the same bank can have their own regulations.

They usually differ in the requirements for opening a bank account or in their strictness toward newcomers. While some Thai banks have stricter managers and complicated procedures, others are more relaxed and friendlier with foreigners who want an account opening.
Generally, you need a Work Permit and proof of residency to open a bank account in Thailand.

Beside them, you must prepare the following documents: What’s needed to open a bank Account

– A passport;
– Immigrant visa for Business, O-A long-stay visa, work permit;
– Proof of Thai residence under the form of a utility bill, Thai diving license, Thai house registration, residence permit, rental agreement, or lease agreement;
– Also, a proof of residency in your home country, also under the form of a driving license, a bank statement, or a utility bill;
– Proof of property ownership in Thailand;
– Letter of reference from your home bank, embassy, or a Thai educational institution;
– A proof that you are about to obtain a work permit under the form of a letter from a company;
– Anything else that proves that you are staying in Thailand for an extended period;
– Documents that show you receive a pension or a salary.

Opening a Thai bank account with a Tourist Visa

In general, many foreigners wonder if it is possible to open a Thai bank account with a Tourist Visa. Our answer is yes. There are banks in the tourist areas that accept open accounts for non-residents. We don’t say that the process will be successful or simple. Only that there are chances if you are suitable for the bank’s requirements.

What do you need to open a Thai bank account with a Tourist Visa?

1. A valid passport;
2. A valid tourist visa;
3. Proof of residency in your home country;
4. Letter of reference from your home country bank;
5. Letter of reference from a reputable person in Thailand, an institution, or an organization;
6. A minimal deposit of money when you first open your account.

Where can I open a Thai bank account?

After you have discovered what you need to open a Thai bank account, you may ask yourself. We also provide you with the answer to that.
Thailand has several prestigious banks which have branches all over the country, including in tourist areas. You have many options you can consider according to your needs and necessities. First, look for the nearest bank around you.

Check their site and find out if you are suitable to apply for an account opening there. If you encounter any misunderstanding, you can ask for help from the Thai bank account consultants.

Each bank has its way of functionality. There are stricter, others friendlier, but all of them accept to open bank accounts to expats. The difficulty and the duration of the process render in your choice. You have to inform each bank, find out what you need to open a Thai bank account there and decide what you will do.

Firstly, we will present a list of the friendliest banks in Thailand according to foreigners:

1. Bangkok Bank
It is the largest bank in Thailand and it is very well known for their easy way to work with them. Also, many foreigners recommend it as the friendliest bank. We don’t know if it is because of their short list of documents required or because of their Thai bank account consultants, but you can choose it.
2. Kasikorn Bank
It is a commercial bank in Thailand that has become renowned as the first bank in the world to offer a secured payment system via mobile phone. Maybe, because it is well known, many immigrants choose it to open a bank account.
3. Siam Commercial Bank
One of the most popular banks in Thailand is SCB. Both locals and foreigners prefer to collaborate with it because it is the oldest domestic bank in Thailand. It had first opened its doors in 1907 and ever since then, it has offered high qualitative bank services to Thai nationals and foreign citizens who come into the country. What do you need to open a bank account here is just a passport and a small amount of money to deposit.

Get assistance in opening a Thai bank account

With the help of a Thai bank account, life in Thailand will seem easier. You can proceed with daily transactions for free, you can send money abroad and exchange it for a minimal fee. If you intend to open one, but you don’t know where to start, get in contact with us. We are J&E Concierge, a specialized agency offering consultancy to foreigners who come to Thailand.

We can help you with getting a Thai driving license, getting a Thai visa, opening a Thai bank account, and many other things you need. Within our articles, you can find the answer to many questions you may have, like where can I open my Thai bank account or what’s needed to open a Thai bank account. If you need more than information about what you have to do, you can contact us anytime and we will provide you with the right answers.