Opening a Bank Account

One would think that opening a bank account would be a simple matter. Think again! Unless you have a work permit or meet some other cumbersome requirements you cannot open an account without a Thai guarantor.  Retire in Thailand will be your guarantor.  If this account is what you will use to qualify financially for your visa, it must be in your name only

Once your account is opened there is an abundance of ATM machines where you can get cash.

If you want to go it alone, here are the requirements.

1. Foreigner with a work permit – Take
Passport and Work Permit

2. Foreigner without work permit – Take
a. Passport

b. A reference letter issued by one of the following institutes or organizations or required document from your Embassy located  in Thailand

c. An overseas bank where the customer holds an account sent via SWIFT

d. Trusted individuals such as a Bangkok Bank staff member or customer, director of a private company, permanent residence in Thailand, government or private educational institutes located in Thailand trusted by the Bank

e. Trusted companies, e.g., an employment letter from the company if the customer is in the process of applying for a work permit.

f. Document showing ownership of a fixed asset such as a condominium sale/purchase agreement (a condominium which is acceptable to Bangkok Bank) Or a property reservation agreement valued at 100,000 baht or more with a reference letter from the property developer that is acceptable to Bangkok Bank.  Contact addresses for both Thailand and overseas must be provided (hotel and P.O. Box addresses are not acceptable).