Bank Accounts

[aragon]

Now that we have a property in Hua Hin, though not yet permanently resident, I need to open a bank account to facilitate making payments for services etc., therefore have a few questions that I would appreciate some advice on:

1. Can non-resident expats hold bank accounts in Thailand?
2. What is the process for opening an account?
3. Does anyone have a recommendation concerning the best bank to use?
4. At some point I need to deposit the obligatory Bht. 800K for my visa, I believe I read somewhere that this needs to be in an account in my sole name, therefore is it acceptable to have multiple accounts in Thailand, say one in joint names with my wife and the other in my name only to hold the Bht. 800K?

There arev probably more questions to be asked/answered, but if anyone can help with these as a starter, that would be appreciated.

[Pagey]

Aragon regarding 1-3 it is relatively easy to open an account in Thailand. Usually all you need is your passport. Certainly Kasikorn (Green Coloured Bank) who have branches in town and Market Village will let you open an account with just your passport for ID.

You can manage your account online to make transfers, payments etc

[Takiap]

To answer your questions....................


1. Can non-resident expats hold bank accounts in Thailand? - Yes
2. What is the process for opening an account? - Go to the bank with your passport
3. Does anyone have a recommendation concerning the best bank to use? - Kasikorn Bank
4. At some point I need to deposit the obligatory Bht. 800K for my visa, I believe I read somewhere that this needs to be in an account in my sole name (Correct), therefore is it acceptable to have multiple accounts in Thailand, say one in joint names with my wife and the other in my name only to hold the Bht. 800K? - Yes


Hope that helps

[aragon]

Aragon regarding 1-3 it is relatively easy to open an account in Thailand. Usually all you need is your passport. Certainly Kasikorn (Green Coloured Bank) who have branches in town and Market Village will let you open an account with just your passport for ID.

You can manage your account online to make transfers, payments etc

To answer your questions....................


1. Can non-resident expats hold bank accounts in Thailand? - Yes
2. What is the process for opening an account? - Go to the bank with your passport
3. Does anyone have a recommendation concerning the best bank to use? - Kasikorn Bank
4. At some point I need to deposit the obligatory Bht. 800K for my visa, I believe I read somewhere that this needs to be in an account in my sole name (Correct), therefore is it acceptable to have multiple accounts in Thailand, say one in joint names with my wife and the other in my name only to hold the Bht. 800K? - Yes

Guys, thanks for the prompt responses, much appreciated.


Hope that helps

Ooops sorry, didn't handle that very well, the "Guys, thanks for the prompt responses, much appreciated." was supposed to be in my post and not embedded in Takiap's............guess I'll get the hang of this eventually

[brianks]

I have an account in K-Bank and Bangkok Bank. Both are good. Both have web access to manage account but I like Bangkok Bank better because they notify you every time one enters the account to protect against unauthorized entry. Also Bangkok Bank is largest in Thailand which can be handy.

You DON'T need to have 800,000 baht in a bank account to obtain and maintain your retirement visa. Just read the next two "or" requirements after the first one. If American you only have to go to embassy and get notarized form stating your monthly income (1,500 baht) but if UK then God help you as I understand their process for verification takes quite a bit of time and a hassle.

[lomuamart]

Whichever way anyone cuts things, the applicant has to prove that they can take care of themselves financially without working. That fact obviously leads to some parameters being set by Imm.
Actually, as a UK citizen, I have never had a problem with my Embassy in getting the income letter. Yes, they ask for proof but that's easy to provide.
US citizens just swear an oath about theirs' and that's why there have been some reported instances where the American is asked to provide further proof to Imm when applying. Brits, as far as I'm aware, have never had to do so.

[Roel]

I like Bangkok Bank better because they notify you every time one enters the account to protect against unauthorized entry

Must be able to change that somewhere in your K-Cyber Banking settings because I also receive these email notifications from Kasikorn after every log-in.

[aragon]

Thanks guys (brianks, lomuamart & Roel), I had read that you can apply for the visa with a proof of income rather than having the money in the bank, but I figure it will probably be less time consuming getting something from a local bank to prove you have the funds rather than having to go to the Brit embassy in BKK to get something from them.

Not being resident full-time in HH, obviously one of the big things for me with any bank will be the online banking, how extensive it is, how useful it is, ease of use and reliability (i.e. % of up time versus down time); any positive or negative experiences in this regard?

[aragon]

Thanks guys (brianks, lomuamart & Roel), I had read that you can apply for the visa with a proof of income rather than having the money in the bank, but I figure it will probably be less time consuming getting something from a local bank to prove you have the funds rather than having to go to the Brit embassy in BKK to get something from them.

Not being resident full-time in HH, obviously one of the big things for me with any bank will be the online banking, how extensive it is, how useful it is, ease of use and reliability (i.e. % of up time versus down time); any positive or negative experiences in this regard?

[johnnymac]

A little off topic.

Mrs JM did a quick visit to all the banks in HH.

Kasikorn appear to be the only ones who don't charge for a SWIFT inbound payment.

Not sure how long it'll last but we'll be opening an account there tomorrow

[Homer]

Usually all you need is your passport. Certainly Kasikorn (Green Coloured Bank) who have branches in town and Market Village will let you open an account with just your passport for ID.

Opened my account there almost 2 years ago. Maybe things have changed. They asked if I had a tourist visa (which is not the 30 day stamp one can get upon arrival at the airport). Also asked for proof of address. I showed them my room key and said will this do? It did.

[traveller2]

Great thread Aragon, ive been pondering similar issues as of late. You beat me to asking. thanks.

t2

[traveller2]

And thanks to all who have contributed with good solid info



t2

[SunandFun]

I have been following wire transfer rates for the last month or so. It seems that so far, KasikornBank is better than Siam Commercial Bank in this regard. Since I am transferring for a condo, the exchange rate is important to me.

[m_right]

Thanks guys (brianks, lomuamart & Roel), I had read that you can apply for the visa with a proof of income rather than having the money in the bank, but I figure it will probably be less time consuming getting something from a local bank to prove you have the funds rather than having to go to the Brit embassy in BKK to get something from them.

Not being resident full-time in HH, obviously one of the big things for me with any bank will be the online banking, how extensive it is, how useful it is, ease of use and reliability (i.e. % of up time versus down time); any positive or negative experiences in this regard?

I use Kasikhorn online banking and very happy with it. Was a pain to get it set up but worth the effort. I tried it with Bangkok bank and never could get it working.