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Information on Opening a Bank Account in Thailand for Foreigners

Transcript of the above video:

As the title of this video suggests, we are discussing the opening of a Thai bank account

Specifically I am making this at the time of the Coronavirus shut down and also while we are under this automatic visa extension associated with Coronavirus. It is also called a Visa Amnesty, the Thai visa amnesty, the Thai Visa waiver.

So currently Visa holders and there is some nuance to that and I have gone into great detail on that in another video, but basically folks that got trapped by the Coronavirus that are in Thailand have been granted an amnesty for their visa. They have basically been given an automatic extension until July 31. I have had some enquiries on this and people have been asking me "Well can I open a bank account here so I can operate and deal with finances; get money sent to me?"  Maybe. The answer to that is "maybe". For those who are really interested in this topic, go ahead contact us. We may be able to assist you. Depending on your circumstances, it might be possible to open a bank account. At the same time it is very dependent on the bank. It is also very dependent on the personnel of that specific bank.  So certain Banks are a little bit more accommodating with respect to foreigners and I don't particularly know why. I think for example certain Banks sort of ourselves as more corporate oriented rather than individual oriented or some view themselves as more commercially oriented or even some of them I think view themselves as more oriented to financial inter banking services and again they still have a depository function so they still deal with consumer banking if you want to call it that, but different bank sort of have different institutional attitudes if you want to call it that. So depending on the bank that you are trying to get a bank account set up at, there may be differing degrees of easy or difficult depending on the bank you are trying to use and as well, if you fall into the Visa Amnesty, that may have a real impact on your ability to open a bank account here in Thailand because some may view those folks as being in an overstay that is just simply not being accrued. It is an amnesty to over stay if you want to call it that or a waived overstay and those Banks might not view that person as being someone they want to open an account for probably pursuant to their internal KYC or know-your-customer sort of protocols; again very factually dependent. Again I am making this in the context of COVID-19 or the information I just imparted was more in the context of COVID-19. 

From a general standpoint, it is always possible for a foreigner to get a bank account in Thailand. Again Visa status is going to have a lot to do with it. For those who open a Thai Company and are maintaining a Work Permit in Thailand then "Yes, a bank account is definitely a possibility." We assist with that all the time in both a personal as well as a corporate capacity so it is definitely possible for those with a Thai Work Permit to obtain a personal Thai Bank Account as well as a Corporate Thai Bank Account, again depending on circumstances. Again different banks do deal with this kind of differently. 

So those who are interested generally in just getting a Thai bank account certainly go ahead and contact us especially in a corporate context. Those who are looking at a bank account for personal purposes in the context of having been stranded here in Thailand it may be possible and if you are looking at that sort of scenario, it may be a good idea to go ahead and contact us. We may be able to be of assistance.