Transcript of the above video:

As the title of this video suggests, we are discussing Thai Bank Accounts. Thai Banking is something that can be a real issue for a number of expats here in Thailand. One thing I get a lot when people contact us about Thai Bank Accounts is they say 'why are they giving me a bunch of guff about my Visa status?' 

Well long story short is many Thai Banks have different policies regarding the Visa status of foreign nationals who wish to open a Bank Account in Thailand. For example, some banks in Thailand won't even open a Bank Account for a foreign national who does not possess a Non-immigrant Visa; that could be a real issue. As we have discussed in other videos, banking can be kind of a catch 22 especially for those who are looking to get into Retirement Visa status here in Thailand. For example, if you are on a Tourist Visa, the Bank might not open a Bank Account for you and you need the Bank Account in order to get the Retirement Visa oftentimes and that can lead to a catch-22 because you can't get a Non-Immigrant Visa to get a Bank Account because you need a Bank Account to get a Non-Immigrant Visa. That is just one example. 

Visa status does tend to matter for Thai Banks because oftentimes they want to know, part of it is kind of a KYC, Know Your Customer situation, but I think the other thing is they want to make sure that the person that they are doing business with is going to be around and if you are in Thailand for example on a Visa Exemption or a Tourist Visa, it causes the Bank to kind of question, "is this person going to be around when we want to deal with them down the road?" And if you are not in a Non-Immigrant Visa status, it could lead to a situation where you may have problems getting a Bank Account. For those who are finding this overwhelming, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.