T.I.G.R. wrote:Jeez Winkie, that's my bank too......maybe my wife's charging me a processing fee!
In regards to opening accounts for foreigners is this for all foreigners or just Americans?
If you have a Thai spouse you're in the clear....you can open accounts in her name and then have them add your name to the account.....quite a lot of paper pushing but it does get the job done, or used to anyway.
Yes, you can have your name added to your wife's account, but that won't help if you need to have show money in the bank because show money has to be in your name and your name only. Why it can't be in a joint account I don't know.
Also, according to my wife, foreigners can still open bank accounts here. She's helped several of her clients to open accounts so they could transfer funds into Thailand for the purpose of buying condominiums.
Just keep trying, and good luck.
Don't try to impress me with your manner of dress cos a monkey himself is a monkey no less - cold fact
remember I had the same ideas some years ago and just went in to the yellow bank with passport and some proof of a residence address (can't remember if I needed to proof that I own the property).
Have since never received any papers from the bank and use it as you are intending to, transfer throug my own bank to my account and use my ATM card when I come down every year.
One year I also went in to see how things are handled with my transfers and was shown a very proper note, saying my sending banks name, address etc and the money in my currency and the rate and total amount put on my account.
Thought it should be more difficult to be honest.
Try to seak information on the web, but Kasikorn has, as I've been told, an easier set up for web access to your account.
Vinny wrote:Finally made it to Thailand.Been here about 12 days now but still haven't had any success opening a bank account.All banks have said we can't have a joint account because foreigners are no longer allowed open accounts in Thailand.Tried all the banks here in Bangkok and got the same answer with all of them.Pain in the arse if ya ask me.It was mentioned earlier in the thread about changes coming into affect due to money laundering.Well it looks like the changes have come into effect
I think it ridiculous that a "tourist" can open a bank account. Thats what banks were created for... to hold money for travelers.
Vinny wrote:Finally made it to Thailand.Been here about 12 days now but still haven't had any success opening a bank account.All banks have said we can't have a joint account because foreigners are no longer allowed open accounts in Thailand.Tried all the banks here in Bangkok and got the same answer with all of them.Pain in the arse if ya ask me.It was mentioned earlier in the thread about changes coming into affect due to money laundering.Well it looks like the changes have come into effect
I think it ridiculous that a "tourist" can open a bank account. Thats what banks were created for... to hold money for travelers.
MC - Are you saying that a tourist CAN open a bank account whilst implying that a Non- Thai resident CANNOT ?
Courage is grace under pressure and when circumstances change you change your mind.
I've read the replies and am non the wiser with regards to a foreigner opening a bank account under the new rules. We'd be coming on the 1 year retirement visa, which requires the 800,00 bht to be deposited in a Thai bank account. We'd planned on opening and account and depositing the money, but if we can't open an account how wold we comply with the visa rules?
Maybe I have been lucky but have opened a number of accounts over the years without any problems. Proof of residence (usually 2 documents) passport and of course a small sum to deposit plus any fees to cover ATM cards etc.
I opened a new account at Bangkok Bank last month with no issues.
Obtaining a credit card is much more difficult today and needs a substantial surety usually equal to the credit limit I believe. Having obtained my credit card many years ago I have no personal current experience but friends assure me that it is difficult.
"'The two most important days in your life are the day you are born and the day you find out why." - Mark Twain
READ past the first financial requirement of the retirement visa. You will see that you do not need to deposit 800,000 baht in a Thai bank account but merely need to prove that you have income of 65,000 baht per month.
If a U.S. citizen it is quite easy to do this by going to embassy and filling out a form stating your monthly income (they don't check so you can put any amount down), pay the 1,600 baht notary fee and wait for the notary to call you to sign the document and stamp with notary seal.
I would not want to keep any large amounts in Thai bank because if it is over $10,000 U.S. you have to report it on Income Tax filing. As of 2014 all Thai banks will be reporting accounts of U.S. citizens to the IRS---thanks to those who have been hiding money in foreign banks to evade taxes for so many years. Oh, this is not just the U.S. on this crusade (Germany & France) but many other western nations are hot on this one as their citizens have been doing the same.
Papa Goose wrote:I've read the replies and am non the wiser with regards to a foreigner opening a bank account under the new rules. We'd be coming on the 1 year retirement visa, which requires the 800,00 bht to be deposited in a Thai bank account. We'd planned on opening and account and depositing the money, but if we can't open an account how wold we comply with the visa rules?
No, you would be arriving on a non-immigrant O or O-A visa. Deposit your money as soon as you arrive. After 3 months, you can apply for a Retirement extension for the next year - it is at this point that the money comes into play.
Anywhere other than Hua Hin, it wouldn't be a problem. However, Hua Hin Immigration insist that the money has been seasoned for 3 months. The best that you will be able to achieve is 2 months and 29 days. However, if you go down to the immigration in the 3rd month, they will be able to work things out for you
Papa Goose wrote:I've read the replies and am non the wiser with regards to a foreigner opening a bank account under the new rules. We'd be coming on the 1 year retirement visa, which requires the 800,00 bht to be deposited in a Thai bank account. We'd planned on opening and account and depositing the money, but if we can't open an account how wold we comply with the visa rules?
No, you would be arriving on a non-immigrant O or O-A visa. Deposit your money as soon as you arrive. After 3 months, you can apply for a Retirement extension for the next year - it is at this point that the money comes into play.
Anywhere other than Hua Hin, it wouldn't be a problem. However, Hua Hin Immigration insist that the money has been seasoned for 3 months. The best that you will be able to achieve is 2 months and 29 days. However, if you go down to the immigration in the 3rd month, they will be able to work things out for you
I can't claim to be an expert on the subject but believe that to get an O-A visa you need the 800,000 baht in the bank for the 2/3 month period, so it would have to be a non-immigrant O visa initially. Having said that, I had no problem opening a bank account with Kasikorn on a tourist visa but that was 5 years ago so things may have changed since then?
Cheers Danny and Big Boy, that's just the info' I was looking for.
We're Brits and in our early 50's and would be moving to Thailand from Switzerland as that is were we live and work, so the full move is a year away at least. We had thought about a holiday on a tourist visa, opening an account and putting some cash in it then building up the balance to the 800k over maybe a year. Do you think with the new rules that's possible, would they accept a holiday apartment as 'residence' or even know?
This thread is about opening bank accounts. You'd be better off starting a new thread based on your specific situation. Then, our resident expert, lomuamart, will pick up on it (supported by other knowledgeable forum members), and answer your questions with authority. lomuamart does an excellent job of keeping up with all relevant rule changes.
Just to clear up the visa finances queries.
1. The 800 K THB does not have to be in a Thai bank account for the OA visa. It can be anywhere in the world - normally in your home country.
The requirement for 800K in a Thai bank account only comes into play when applying for an annual extension to your visa - either to an OA or an O.
2. As far as building the 800K up over a period of time is concerned, there should be no problem with that as you'll not be living here at that stage. (Ie you won't get questioned about what you're living on). As long as the 800K has been in the bank for 3 months before you apply for your annual extension and hasn't dropped below that figure during that time, you'll be OK.
Just a reminder the bank account cannot be in joint names it must be in one name only and the other person piggybacks on the visa extension providing you are married. We opened a bank account last month with Krung Thai here in HH and had no problem at all.
lomuamart wrote:Just to clear up the visa finances queries.
1. The 800 K THB does not have to be in a Thai bank account for the OA visa. It can be anywhere in the world - normally in your home country.
The requirement for 800K in a Thai bank account only comes into play when applying for an annual extension to your visa - either to an OA or an O.
2. As far as building the 800K up over a period of time is concerned, there should be no problem with that as you'll not be living here at that stage. (Ie you won't get questioned about what you're living on). As long as the 800K has been in the bank for 3 months before you apply for your annual extension and hasn't dropped below that figure during that time, you'll be OK.
Another benefit of having the Oracle (lomuamart) giving his considerable experience. I always assumed that even for the initial OA application, the 800,000 had to be in a Thai bank (which is what i did) and whilst not doubting your wisdom, I rechecked the visa application details at the Thai Embassy where I applied (Abu Dhabi) and sure enough it only says proof that you have funds equivalent to 800,000 baht with a bank statement to that effect. It then goes on to say that for renewal purposes, the 800,000 has to be in a Thai bank account (or monthly income of 65,000 or combination of the two)!!
