The majority of banks are, but not all. However, the rules and regulations of the banks may also differ from one branch to the next even within the same. When looking to open a bank in Thailand, look for these features for your own benefits;
- Bank near to the place you live
- More than one English-speaking staff for better communication
- The bank has a user-friendly website including internet services
- English-speaking call-centre staff
- All important information is available in English, from statements, website ‘help’ information to forms.
Some people may be attracted to a bank offering an affiliated brokerage arm or fund management arm. However, this is not a necessity.
It would be unwise to think that since you have internet banking, the above-listed criteria won’t matter. Let me tell you that there could be times when you will be in need of going to the bank and meeting the staff in person. So, it is always feasible to keep the above points in mind when planning to open a bank account in Thailand.
Additionally, get in the habit of keeping your passport and photocopies with you when visit bank. Consider that not all banks provide internet banking facility; a feature that you will require for sure.
To give you a number of the banks; there are exactly eighteen Thai banks and sixteen foreign banks, registered in Thailand. The majority of the business is handled by the six biggest banks as follows;
- Bangkok Bank
- Krung Thai Bank
- Siam Commercial Bank
- Kasikorn Bank or KBank
- Bank of Ayudhya
- Thai Military Bank
How a Foreigner Open a Bank Account in Thailand?
A foreigner must attend a bank with his passport, work permit and other related papers as may be requested by the bank. However, you may see that the specific requirements to open bank account vary not just from one bank to another, but also between different branches of the same bank.
You may be told that being a foreigner you may not be able to open a bank account. But, clearly, there seems to be no such refusal. If you are refused then it is likely that you haven’t met their requirements.
However, few features of banking in Thailand that you should be aware of is that it still regional in the country. Therefore, even if you have an account with Bangkok Bank through their branch in Phuket, you will be charged to withdraw or deposit from a Bangkok Bank located in Bank. In addition, paper passbooks are used till date and are needed to undertake banking transactions.
