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Thread: Opening a Thai Bank Account

  1. #1
    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    Opening a Thai Bank Account

    I thought I would share my experience in opening a Thai Bank account so that other may be able to do the same in the future.
    I did a little looking around on Google before I came and made the decision to open an account with Kasikorn from a Touristy area. It is known for Farang to be knocked when asking to open an account in Thailand but you have more chance with Kasikorn when in a Touristy area.

    I went to Jung Ceylon in Patong where it was already filled with Farang. I had Noy with me so I am not sure if this made a difference. I asked to open an account and they told me all that was required was you passport, 500b min deposit and an address in Thailand. The address was a bit of an issue as i did not have one, but when Noy talked to the person opening my account she was told the address is very rearly needed so it could be a friends house or shop address. As Noy was staying in a room in Karon while I was not there we gave them that address.

    It was all done very quickly and even had internet banking set up on the spot. The Language Barrier was not an issue as the staff spoke very good English. I was a ATM Card and Deposit Passbook on the spot and ready to be used there and then.

    This was a very simple and easy process and will make it a lot easier in sending money home to the in-laws as well as for spening money while in LOS on holiday.
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  2. #2
    Organic AI Quarky's Avatar
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    ^Won't the address receive bank statements from the bank? I'd probably want an address of someone I know I can trust... just in case?
    My only experience was in a pie making factory managing the gravy team


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    Foundation Member Uber Star Norabunga's Avatar
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    Quote Originally Posted by Distantpeak View Post
    ^Won't the address receive bank statements from the bank? I'd probably want an address of someone I know I can trust... just in case?
    I don't think they do statements. They still use good ole-fashioned passbooks.

    My experience opening a Kasikorn account in Chiang Mai was similar to G4's.

    Something to watch out for: When you use internet banking to do payments, transfers etc they send a code by SMS. Worked well in Thailand, but now I'm back in Aus and my Thai number is not working. I can't receive the code so can't use internet banking. Not a problem for me but if you wanted to send money to TG family etc it could be.

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    Foundation Member Thai Dreamer ผู้เพ้อฝัน Minder's Avatar
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    Mine is with Kasikorn also - the Green bank - and I only got it a few months ago as I was previously knocked back by Bangkok Bank, Siam Commercial and one other because I did not have a Thailand work permit and so I gave up trying for a while.

    My account is in Bang Phli, Bangkok - as far from a tourist area as you can get - and it was no problem - very similar experience to G4orce - English was not a problem (Yes, I had Mrs M with me but did not need her) and all I needed was a passport and a Thai address ...

    (Kaiskorn did ask if I had a Thai work permit but it was not a problem that I did not have one.)

    Forewarned we gave the sister-in-laws phone number so transfers can be commenced and then completed by ringing her and asking what code just came thru on her phone.

    That phone is also the primary way the bank will contact you if they need to - as mentioned they are not big on written statements - there is a clever passbook update machine - slide in the book opened at the last entry and it prints all the transactions onto your book.

    Enjoy.
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    Uber Star Foundation member Uber Dreamer ผู้เพ้อฝัน vanguy77's Avatar
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    I just opened a K-Bank account on my last trip in February, when I was in Pattaya. They accepted the hotel address where I was staying as sufficient for my Thai address. Took about half an hour and walked out with passbook, debit card and a code I can use for internet banking, tho I have not tried to use that yet. I did notice when I was in Thailand, that any ATM withdrawls I made were messaged to my cell phone, so perhaps the internet banking does not work here, I am not sure. I'll give it a whirl in a bit here, and let you know if I have any success with it.
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    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    I did not think about the internet banking code. I will be making a few transactions while Noy is here so hopefully it will work. I guess it is not that hard to put down the Sister in-laws number if I really have to

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    bobless
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    thanks guys for info

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    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    The Thai bank system seems to have all the good parts and few of the bad.
    Good
    They pay real interest on all your funds
    No pesky bank charges every five minutes
    You can have a passbook and a card, no charging for statements.
    Simple internet banking
    SMS security codes and advices
    When you visit a branch you get personal service
    Bad
    Not here in Australia!
    Farang fee for ATM withdrawals

    Did you know that they will issue a card for your TG too?
    Hers has a lower ATM fee so we always use that one.
    And where the hell was Biggles.....?....when you needed him last Saturday....?

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    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    Quote Originally Posted by Changone View Post

    Bad
    Not here in Australia!
    Farang fee for ATM withdrawals
    Did you know that they will issue a card for your TG too?
    Hers has a lower ATM fee so we always use that one.
    I did notice that there was a 15 baht fee to withdraw from a Kasikorn ATM, but only from some ATMs...

    They only gave me the one card and never had the option of one for Noy

  10. #10
    Foundation Member Uber Star Norabunga's Avatar
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    iirc the ATM fee only applies outside the account's 'home' province.

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    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    It has sometimes applied in the province of Bangla Road...
    And where the hell was Biggles.....?....when you needed him last Saturday....?

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    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    Can anyone help me with this?
    I am trying to send money to my Thai Bank Account and I am being asked for a Branch Code. I have seen elsewhere (but not confirmed) that the branch code is included in the 10 digit account number. xxx-x-xxxxxx. From what it said the first 3 numbers were the branch code, the 4th number is the account type and the last 6 are the actual account number. You will also need the SWIFT code which for Kasikorn Bank it it KASITHBK. Can anyone confirm this?

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    Frequent Flyer kaptainrob's Avatar
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    Yes, K-Banks SWIFT code = KASITHBK
    1st 3 digits are the BSB code.

    Would you like to transfer to my a/c?
    Rivo likes this.
    Cheers, Rob.
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    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    Thanks KR, as for the transfer let me know when it comes through 555


    FYI for those interested, I made an international Transfer from my Bank account here in Aust to my Thai account. Cost me $35 and only took a day to transfer. From there I made a transfer to MIL Bank account. It does require that you have your Thai Phone number available as they send you a code via sms. Earlier people had said that they had given a sister number and got the code off her via a phone call. I thought that would be the way I had to go but first tried using my Thai simcard here. My 1 2 Call Sim uses the Optus network and still recieves the KasiKorn sms when using it here. I thought the issue might be that the sms would not be sent internationally but it all worked fine.

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    Foundation Member Uber Star Norabunga's Avatar
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    Quote Originally Posted by G4orce View Post
    first tried using my Thai simcard here. My 1 2 Call Sim uses the Optus network and still recieves the KasiKorn sms when using it here. I thought the issue might be that the sms would not be sent internationally but it all worked fine.
    Did you have to activate global roaming on your 1 2 call sim or did it just work anyway?
    My Tru sim is as dead as a dodo here in Aus. Put it in the phone, turn it on......Nothing!
    I'm not too bothered about it cos as I said before, I don't need it but I am interested to learn how to transfer money like you just did. Will save carrying a wallet full of traveller's cheques and cash.

    I was just thinking I might do a small transfer to try it out but at $35 a pop that's not such a good idea.

  16. #16
    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    I did not activate Roaming at all. Just put in in my phoen and switched it on and working..

    I like the idea of what you are saying with the transfer for spending money during the holiday. I plan on using it for that as well as transfering money to the MIL. Also look at Western union as they now do transfers to bank accounts but min fee in still $20 for up to $500. Also when i tried they were having a few issues which I hope th resolve before I have to make another transfer

  17. #17
    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน PatongBeachBoy's Avatar
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    Quote Originally Posted by G4orce View Post
    Thanks KR, as for the transfer let me know when it comes through 555


    FYI for those interested, I made an international Transfer from my Bank account here in Aust to my Thai account. Cost me $35 and only took a day to transfer. From there I made a transfer to MIL Bank account. It does require that you have your Thai Phone number available as they send you a code via sms. Earlier people had said that they had given a sister number and got the code off her via a phone call. I thought that would be the way I had to go but first tried using my Thai simcard here. My 1 2 Call Sim uses the Optus network and still recieves the KasiKorn sms when using it here. I thought the issue might be that the sms would not be sent internationally but it all worked fine.
    You could probably set up call forward so that the number (your Thai number) used for your account then gets forwarded to your aussie number.... the fee would be minimal for receiving a forwarded txt message
    Travel is the only thing you buy that makes you richer.

  18. #18
    Frequent Flyer kaptainrob's Avatar
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    Not sure if this is of help to you G4, but using ClearFX to transfer AUD to Thai a/c's, will avoid the excessive Bank fee. Their FX rate is better than Aus banks.

    The AUD35 fee + poor FX rate charged by the Banks is a rip-off.

    NB: I haven't rec'd your transfer as yet ... 555
    Cheers, Rob.
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  19. #19
    Foundation Member Thai Dreamer ผู้เพ้อฝัน G4orce's Avatar
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    Quote Originally Posted by kaptainrob View Post
    Not sure if this is of help to you G4, but using ClearFX to transfer AUD to Thai a/c's, will avoid the excessive Bank fee. Their FX rate is better than Aus banks.

    The AUD35 fee + poor FX rate charged by the Banks is a rip-off.

    NB: I haven't rec'd your transfer as yet ... 555
    Thanks that will be a big help for the future. I have not looked in to ClearFX yet.

    I made sure I sent the money in AUD so that K-Bank would do the Exchange between AUD and THB. They have a lot better rates then the Aussie banks will ever have.

    As for the transfer it said it may take upto 3 business days so have another look tomorrow 555

  20. #20
    Cadet Gold NamTanMot's Avatar
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    In Oz you can pre-approve certain accounts and avoid the need for an SMS. Can you do this on K internet banking?
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