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Current Account
Thai banks required a foreigner to meet several requirements to open a
checking account.
- A non-immigrant Visa
- A work permit
- Company papers.
- Certificate of residence
Savings Account
Opening a savings account is much easier. All you have to do is must
present the bank with your passport and proof of address such as a
electrical bill or cable bill or lease and then make a minimum deposit
of 1000 baht. Once approved you will be issued an ATM card and
withdrawal is free of charge at any branch of the bank within Thailand.
The whole process usually takes less than 30 minutes
Thai bankers are generally quite helpful. Services are varied from bank
to bank.
Banking hours have been liberalized so some banks are open seven days a
week.
Hours are usually 9am-4:30pm, although some banks have extended hours
till 7pm.
In additional to banks and ATM machines, Thailand has money exchanges to
transfer foreign currency into Thai Baht. Shop around as these have
different rates and try not to use those in hotels, as their rate is
always much lower than the real rate of exchange.
Credit Cards
It is possible to get a credit card in Thailand, there are various ways
and each bank will have different rules and regulations. I bank with
Standard Chartered in Thailand and because I have a work permit with
over 3 years worth of pay slips I have an unsecured Gold Card with a
credit line of 250,000 baht, one of my colleagues has a similar one with
HSBC.
Unsecured cards are difficult to obtain without an established work
history.
Other banks will offer you options such as placing say 200,000 baht on
deposit with them first or buying bonds that are held.
I would suggest that you visit your local branch first, if they are not
helpful then try going to the main office that will have more experience
in dealing with foreigners.
If you find this useful let us know and we will expand this section
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