Best Bank to use for meeting Visa criteria

[Sqiddly Diddly]

Hi,
I am hoping to retire in Hua Hin next year. One of the visa requirements is to have cash In a Thai bank for at least 3 months.
I am visiting in September and want to open an account in the best and safest one to use that also does online banking, can you recommend one, I hear Kasikorn bank is ok?
Thanks

SD

[brianks]

Don't know if it makes much difference with Banks. Whichever one will allow you to open an account without a lot of hassle and has a lot of branches and ATM's is the one to take. Might also ask what their procedure is for issuing the Bank letter for Immigration. I know Bangkok Bank here had to get letter from BKK which took a few days. I think others can write it on site.

Don't have to have 800,000 baht in account but can also get letter from embassy stating minim or more of 5,500 baht monthly income. After 6 years of doing that I have finally given up and will have 800,000 baht in bank account next week. Will save me a bit of time consuming hassle and expense getting that verification from the embassy.

[lomuamart]

Just a quick correction to the above - monthly income is a minimum of 65,000 THB.

[perfectvolley]

i guess you mean 55.000 Bath monthly income!!!!

[lomuamart]

No. The requirement for a retirement extension when using overseas income is 65,000 THB.

[JamesWest]

stay away from small bank branches. less English. If no English then just leave.

I use the Bangkok Bank branch in Hua Hin located here:

https://www.google.com/maps/search/hua+ ... ECK9tw!2e0

alway a good experience at this bank and I speak zero Thai. They were first to use the smart chip ATM cards.

I have two banks. One just for "big money" in Thailand and NO ATM access or don't carry ATM card.

And a completely different bank for day to day ATM withdrawls.That way with all the ATM card cloning going on, if I get hit, only "small money " is gone. Setup alerts so you get a text for every ATM withdrawl.

You will need a Thai phone number and cellphone that is with you and operational , some form of address which can be anything. Your passport with current visa (tourist maybe). Get the SWIFT code so you can link accounts from your home country bank. Some banks don't let you add external accounts online. So setup and test before coming over for final trip. You might have to receive a text with a one time password on your home country cellphone to complete transfers while you are in Thailand. find out.

If you have a smart phone or ipad you can setup online access at the same time. I had this done in the BB branch.

And for god's sake, don't go to the bank wearing flip flops and shorts.
It makes a big difference if they think you are a business person with "big money" and not a beach bum.
And be super polite and smile. I always expect things to take at least three trys to get something completed in Thailand. So chill out and be flexable. You will be seeing these people over and over again.

BB does not have as many ATM in Hua Hin as other banks, Kasikorn bank ATM are everywhere it seems. As are SCB

you can put your money into a fixed account at BB and get a Visa Card and Master Card right away. The money in your account is held back until you zero your Visa Card balance. Immigration had no problem with both standard and fixed accounts from BB. They do want you to have the money in there for 90 days prior and there is no slack on this.

But it is best to keep your money in one account for immigration, because they get confused having to look at two or more accounts. I just went through this at immigration. Keep your 1950's style bank passbook up to date 90 days prior to going to immigration.

If there is any doubt, just ask for a copy of your statements for one year and make sure the bank stamps it.

Don't open accounts in other Cities in Thailand because there is a "service fee" for using ATM's from other cities. And changing the address of your account does not make the fee go away. The account has to be opened in a branch near the ATM's for no fees.

If you are from the USSA, you will fill out and sign many IRS forms to open accounts. Valid tax payer ID number is needed.

[brianks]

Yes, stand corrected. Don't know what I was thinking with the 5,500 baht as monthly income requirement. High finance is just too much for me now.

[Tyrell]

Good afternoon

Looking for an update on which is the most "farang" friendly bank and where they have branches in Hua Hin please.

Thanks in advance.

Tyrell

[Bluesky]

I would very much concur with the comments made by James with respect how you approach the bank, mode of dress and account set up for day to day use, ATM cards here have little intrinsic protection and are are easily targeted by cloners and skimmers.Have recently gone through the process of opening an account here. Originally went to Central world in Bangkok on the basis that there would be larger branches there with English speaking staff and knowledge of Visa requirements.
Not So! first two banks insisted I needed a work permit even though I explained I wanted to retire!
"But Sir, we know you wish to retire but can you get a work permit first, then, We will happily open an account then for your retirement Visa." I felt like I was revisiting a scene from the British comedy series Yes Minister. Having politely thanked them for their time we went to Kasikorn Bank and whilst some explaining was needed it also helped having the iPad and had the relevant page opened regarding retirement Visa in Thailand requirements. A few phone calls later we were underway and had the account opened. During this process we paid an additional fee on the account of 300 Bahtwhich allowed us to use the account elsewhere in Thailand for zero fee which would Give us the freedom to travel without carrying copious quantities of cash. Be prepared to be patient and persevere. As an Australian only required to produce my passports with visa from Aust and secondary ID drivers license. For forex transfers between Australia and Thailand the rates quoted by the banks have quite large spreads. (The difference between the buy sell price of Aud/ Thb). To overcome this we set up a a third party forex account in Oz specifically for or fund transfers into Thailand saving quite a few dollars over bank rates may be worth investigating. With respect to the letter required by immigration Kasikorn did charge us 100 baht for this. Hope this helps.

[Tyrell]

Many thanks for input, very helpful and much appreciated.

Tyrell.

[Farang]

Kasikorn at Market Village as well as the main branch on Phetskasem will instantly open an account for you with no hassle, and your beachwear is always accepted. While opening the account, ask the kind bank lady to make sure your ATM card is also a debit card that can be used in net purchasing as well as a general debit card.
Be prepared to have a password ready for the bank so you'll be able use the K-Bank (http://tinyurl.com/nonfuac) excellent net services.

I pay most of my bills over the net by K-Bank service. It is very easy and convenient.