Your guide to expatriate banking services in Thailand
Many local banks will require foreigners to hold a work permit or long-term visa before an application to open an account can be processed. It is advisable to visit a branch in person and confirm their acceptance criteria, as the terms and conditions can vary between banks.
If you application for an account is successful, in most cases you will need a work permit if you wish to have access to internet banking. In addition, you may also need long-term Thai residency if you require a credit card or chequebook.
Non residents are, however, allowed to open foreign currency savings accounts, subject to Thailand’s foreign exchange regulations. As with all bank applications, you will be required to provide personal identification, which typically includes a passport and residency or work permits. A letter of reference from an employer, in addition to a letter of reference from your existing bank, along with recent bank statements, can all help to support your application.
Thailand’s numerous banks and financial institutions speak for her growing economy and her place in the Southeast Asian region as a growing economic force. Her growth in terms of economy and finance once earned Thailand the monicker “Tiger of Southeast Asia”.
The Bank of Thailand is responsible for all central banking activities as decreed by the The Bank of Thailand Act promulgated in 1942.
Bangkok Bank Publick Co.,Ltd. Known as Bangkok’s largest private bank,
BankThai Public Co.Ltd. The largest government–run banking network operates with a vision to make BankThai a bank operated by Thais and for Thais with a professional management team offering quality banking services.
Export-Import Bank of Thailand EXIM Bank can offer short–term as well as long–term credits, either in domestic or overseas markets, in Baht or any foreign currency denominations.