Opening a Bank Account in Thailand: Complete 2025 Guide for Expats

Why You Need a Thai Bank Account

Opening a Thai bank account is essential for expats planning to live in Thailand. You'll need it for:

• Visa requirements: Many visas (retirement, work, marriage) require proof of funds in a Thai bank
• Receiving salary: Thai employers pay into Thai bank accounts
• Rent payments: Landlords prefer Thai bank transfers
• Daily expenses: ATM fees add up quickly with foreign cards
• Bill payments: Utilities, phone, internet easier to pay with Thai account
• Money transfers: Cheaper to receive money in Thailand vs. constant ATM withdrawals
• Thai QR payments: PromptPay/mobile banking essential for cashless society

IMPORTANT 2025 Changes

⚠️ Tourist Visa Holders Can No Longer Open Bank Accounts

Starting in late 2024 and strictly enforced in 2025, most Thai banks no longer allow tourist visa holders to open accounts due to anti-money laundering regulations and visa abuse concerns.

Who CAN Open a Bank Account in 2025:

• Work visa (Non-B) holders with work permit
• Retirement visa (Non-O, Non-O-A) holders
• Student visa (Non-ED) holders
• Marriage visa (Non-O based on marriage) holders
• LTR (Long Term Resident) visa holders
• Elite visa holders
• Digital Nomad visa (DTV) holders (some banks)

Who CANNOT Open a Bank Account:

• Tourist visa holders
• Visa exemption entries (30-60 day stamps)
• Visa on arrival

Bottom line: You need a long-term visa to open a bank account in Thailand as of 2025.

Required Documents

Basic Requirements (All Applicants)

1. Passport: Original with at least 6 months validity
2. Long-term Visa: Valid work, student, retirement, or other qualifying visa
3. Proof of Address: One of the following:
   • Certificate of Residence from immigration (most common)
   • Rental contract (Thai language preferred)
   • Utility bill in your name
   • Employer letter confirming address
4. Initial Deposit: ฿500-10,000 (varies by bank and account type)

Additional Documents (Depending on Visa Type)

Work Visa Holders:

• Work permit (mandatory for most banks)
• Employment contract or company letter

Retirement Visa Holders:

• Retirement visa stamp in passport
• Proof of funds (if required by specific bank)

Student Visa Holders:

• Student ID or letter from educational institution
• Enrollment confirmation

Business Owners:

• Company registration documents
• Work permit
• VAT registration (if applicable)

Best Banks for Expats (2025)

Bangkok Bank

Most expat-friendly option

Pros:

• Most experience with foreigners
• English-speaking staff at major branches
• Extensive branch network (1,200+ in Thailand)
• International presence (NYC, London, Tokyo, etc.)
• Mobile app in English (Bualuang mBanking)
• Accepts most visa types
• Good online banking

Cons:

• Can be bureaucratic
• Some branches less helpful than others

Recommended for: First-time account openers, retirees, general expats

Kasikorn Bank (K-Bank)

Tech-savvy choice

Pros:

• Excellent mobile app (K PLUS)
• Modern, user-friendly online banking
• Good customer service
• Widely accepts foreigners
• Large ATM network
• English app and website

Cons:

• Less English-speaking staff than Bangkok Bank
• Stricter document requirements at some branches

Recommended for: Tech-savvy expats, those prioritizing mobile banking

SCB (Siam Commercial Bank)

Modern banking experience

Pros:

• Best mobile app (SCB Easy)
• Sleek, modern branches
• Good English support
• Strong digital banking features
• Generally expat-friendly

Cons:

• May require work permit at some branches
• Can be selective about visa types

Recommended for: Working professionals, those who prioritize digital banking

Krungsri (Bank of Ayudhya)

International banking option

Pros:

• Part of MUFG (Japanese banking group) - international standards
• Good English support
• Modern banking services
• Good mobile app

Cons:

• Smaller branch network
• More strict requirements for foreigners

Recommended for: Japanese expats, those prioritizing international banking standards

Banks to Avoid for Expats

• Krungthai Bank: Generally difficult for foreigners, requires Thai guarantor
• TMB/Thanachart: Very limited foreigner acceptance
• Government Savings Bank: Designed for Thais, rarely accepts foreigners

Types of Bank Accounts

Savings Account (บัญชีออมทรัพย์)

Most common for expats

Features:

• Interest: 0.25-0.75% per year (very low)
• Minimum balance: Usually ฿0-500
• ATM card included
• Passbook provided
• Free transactions at own-bank ATMs
• Mobile/online banking available

Best for: Most expats - daily banking needs

Current Account (บัญชีกระแสรายวัน)

For businesses and high transaction volume

Features:

• No interest paid
• Unlimited transactions
• Checkbook available
• Higher minimum balance required
• Monthly fees (unless minimum balance maintained)

Best for: Business owners, freelancers with high transaction volume

Fixed Deposit Account (บัญชีเงินฝากประจำ)

For savings with higher interest

Features:

• Interest: 1.0-2.5% per year (depending on amount and term)
• Terms: 3, 6, 12, 24, 36 months
• Early withdrawal penalties
• Minimum deposit: ฿10,000-100,000

Best for: Retirement visa holders maintaining required funds, saving for specific goals

Step-by-Step Account Opening Process

Step 1: Get a Certificate of Residence (If Needed)

Most banks accept a Certificate of Residence from immigration as proof of address.

Where to Get:

• Your local immigration office
• Required documents: Passport, TM30 (residence notification), proof of address (lease, utility bill)
• Cost: ฿0-500 (varies by office)
• Processing time: Same day to 1 week

Alternative: Some banks accept rental contracts or employer letters instead

Step 2: Choose Your Bank and Branch

Pro tip: Go to branches in expat areas for better English support:

• Bangkok: Sukhumvit, Silom, Sathorn branches
• Chiang Mai: Nimman, Old City area branches
• Phuket: Patong, Kata, Rawai branches
• Pattaya: Central Pattaya, Jomtien branches

Different branches of the same bank can have vastly different policies. If one branch says no, try another!

Step 3: Bring All Required Documents

Double-check you have:

• ✓ Passport (original)
• ✓ Valid long-term visa
• ✓ Work permit (if on work visa)
• ✓ Proof of address (Certificate of Residence or rental contract)
• ✓ Initial deposit cash (฿500-10,000)
• ✓ Phone number (Thai or foreign)

Step 4: Visit Branch and Apply

1. Take a queue number at the branch
2. Tell staff you want to open an account ("Pood banchee" - open account)
3. Present your documents
4. Fill out application form (bank staff will help)
5. Provide signature samples
6. Set your PIN code for ATM card
7. Make initial deposit

Time required: 30 minutes to 2 hours (depending on branch busyness)

Step 5: Receive Your Banking Materials

You'll typically receive same day:

• ATM/debit card (some banks give temporary card, mail permanent one)
• Passbook (physical book showing transactions)
• Mobile banking registration (or instructions to set up)
• PIN code (you set this)

Step 6: Set Up Mobile Banking

Absolutely essential for modern banking in Thailand:

• Download your bank's app
• Register with your account number and ATM card
• Set up PromptPay (linked to phone number or ID)
• Enable biometric login for convenience

Account Fees and Costs

Typical Fees (2025)

What is PromptPay?

PromptPay is Thailand's instant payment system - absolutely essential!

How It Works

• Link your bank account to your phone number or ID number
• Send/receive money instantly using just a phone number
• No fees for transfers under ฿5,000
• Works across all Thai banks
• Scan QR codes to pay at shops, restaurants, markets

Setting Up PromptPay

1. Open your bank's mobile app
2. Find "PromptPay" or "Thai QR Payment" section
3. Register your phone number (Thai or foreign works)
4. Verify with SMS code
5. Done! Your number is now linked to your account

Why PromptPay is Essential:

• Thailand is rapidly going cashless
• Markets, street food, taxis now accept QR payments
• Splitting bills with friends (just send to their number)
• Paying rent to landlord (instant, free transfer)
• No need to remember account numbers

Common Challenges and Solutions

Challenge 1: "We don't open accounts for foreigners"

Solutions:

• Try a different branch (policies vary dramatically)
• Try during weekdays (not weekends when experienced staff may be off)
• Go to branches in expat areas
• Bring a Thai-speaking friend to help explain
• Try Bangkok Bank first (most expat-friendly)

Challenge 2: "You need a work permit"

Solutions:

• If on work visa: Get your work permit first, then open account
• If on retirement/student visa: Try different bank (not all require work permit)
• Try Bangkok Bank - more flexible on this requirement

Challenge 3: "Certificate of Residence required"

Solutions:

• Get it from immigration (worth the effort)
• Bring rental contract + utility bill instead (some banks accept)
• Ask employer for address confirmation letter

Challenge 4: Branch staff speak no English

Solutions:

• Use Google Translate app (download Thai offline)
• Bring Thai-speaking friend
• Try branches in expat areas (Sukhumvit in Bangkok, Nimman in Chiang Mai)
• Be patient and smile - staff will try to help

Challenge 5: "You're on a tourist visa, we can't open account"

Solutions:

• No workaround in 2025 - you genuinely need a long-term visa
• Options:
  • Get appropriate visa first (ED, Non-B, Non-O, etc.)
  • Use Wise for receiving money and Wise debit card for spending
  • Use foreign bank card (but ATM fees add up)

Using Your Thai Bank Account

ATM Machines

• Everywhere in Thailand - convenience stores, malls, streets
• 24/7 availability
• English language option available
• Free at your own bank's ATMs
• ฿10-20 fee at other banks' ATMs
• Daily withdrawal limit: ฿20,000-50,000 (varies by bank/card type)

Online/Mobile Banking

Available features:

• Check balance and transaction history
• Transfer money (domestic - free or cheap)
• Pay bills (electric, water, phone, internet)
• Top up mobile phone
• QR payment scanning
• Foreign exchange
• Loan applications
• Investment products

Passbook

Thai banks still use physical passbooks:

• Small book showing all transactions
• Update at ATM machines (insert passbook, it prints new transactions)
• Required for some official purposes (visa extensions, etc.)
• Shows balance and transaction history

Pro tip: Update your passbook regularly for visa requirements

Debit Cards

Two types available:

1. ATM Card (basic):

• Works at ATMs only
• Cannot use for online purchases
• Free or cheap annual fee

2. Debit Card (Visa/Mastercard):

• Works at ATMs and for purchases
• Online shopping enabled
• International acceptance
• Annual fee: ฿300-500
• Upgrade to this - much more useful!

Maintaining Your Account

Keep Minimum Balance

Most accounts have minimum balance requirement:

• Savings account: ฿0-2,000
• If below minimum: ฿50-100/month fee
• Keep buffer to avoid fees

Update Bank When Changing Address/Visa

Important for:

• Receiving statements and cards
• Compliance with bank regulations
• Avoiding account issues

Use Account Regularly

• Inactive accounts (no transactions for 1-2 years) may be frozen
• Make at least one transaction per month
• Even small deposit/withdrawal counts

Keep Your Passbook Updated

• Needed for visa extensions (show 3-12 months of transactions)
• Update at any ATM of your bank
• Free and takes 30 seconds

Closing Your Account

When leaving Thailand permanently:

1. Go to your branch with passport and ATM card
2. Request account closure
3. Settle any outstanding fees
4. Receive remaining balance (cash or transfer)
5. Return passbook and ATM/debit card
6. Get account closure confirmation letter

Fees: ฿0-100

Time: 15-30 minutes

Alternative: Keep account open with minimum balance if planning to return

Tips for Success

1. Get Your Visa Sorted First

Don't try to open an account on a tourist visa. Get your long-term visa before attempting to open a bank account.

2. Visit During Weekday Mornings

• Less crowded
• Experienced staff more likely to be available
• Bank managers present to approve unusual cases

3. Be Persistent

If one branch says no, try another. Policies vary dramatically between branches of the same bank.

4. Bring a Thai Friend if Possible

Having a Thai person vouch for you can make the process much smoother, though not strictly necessary.

5. Dress Professionally

Banks are conservative institutions in Thailand. Dress respectfully:

• No tank tops, shorts, flip-flops
• Smart casual minimum
• Shows you're serious and respectful

6. Be Patient and Polite

Thai culture values politeness and composure:

• Don't get frustrated if process is slow
• Smile and be friendly
• Say "Khop khun krap/ka" (thank you)
• "Wai" (Thai greeting) shows respect

7. Start with Bangkok Bank

If you're unsure which bank to try first, Bangkok Bank is statistically most likely to approve foreign accounts.

Alternatives if You Can't Open an Account

1. Wise (TransferWise)

• Get Wise debit card
• Hold THB balance in Wise account
• Use card at Thai ATMs and shops
• Not accepted for visa requirements

2. Revolut

• Multi-currency account
• Debit card works in Thailand
• Good exchange rates

3. Use Foreign Bank Card

• Charles Schwab (US) - reimburses all ATM fees
• Some UK challenger banks offer fee-free foreign ATM
• Not ideal long-term due to forex fees and inconvenience

4. Get Appropriate Visa, Then Return

The proper solution if you're serious about living in Thailand.

Need Help Opening a Thai Bank Account?

Opening a bank account can be frustrating, especially if you're new to Thailand and don't speak Thai. Our relocation services include bank account opening assistance:

• Recommend best bank for your situation
• Help obtain Certificate of Residence
• Accompany you to the bank branch
• Translate and explain all documents
• Set up mobile banking and PromptPay
• Ensure you understand how to use your account

We have relationships with multiple banks and know which branches are most foreigner-friendly. Book a free consultation to discuss your banking needs.