How to open a bank account in Pattaya
April 27, 2022
The rules for opening bank accounts in Thailand vary in different regions of Thailand, as well as in different banks.
For example, opening an account in Bangkok can be the most problematic – this may require a work visa (work permit) or another more serious reason than your desire.
In Hua Hin, to open a bank account, I only needed a letter from the school (where I studied Thai and had a student visa for this reason) and they opened a bank account for me without additional conditions and documents – it was enough to pay for the first year of service and replenish the open account with the minimum amount.
In Pattaya, the rules again differ, but the following is usually required:
- Certificate of Residence
- Buying accident insurance
Certificate of Residence for opening a bank account
For details, see the article How to get a certificate of residence in Pattaya, what is it and why is it needed.
Note that in one of the banks they opened a bank account for me without this certificate, but subject to the mandatory purchase of insurance.
Also note that certificates of residence are targeted, that is, they indicate what this certificate is issued for. If you receive a Certificate of Residence to open a bank account in Pattaya, then you need to specify the name of the bank. It didn't matter to me which bank to open a bank account with, so I went to the nearest bank's office and asked if they could open an account for foreigners. I was confirmed this possibility and I applied to the Immigration Office for a certificate for the place of residence, where I entered the name of this bank. And then I returned to the bank with the received Certificate of Residence.
If you are just going to come to Pattaya, then before settling in, study the issue of the TM.30 form, as it will be needed to obtain a Certificate of Residence.
Buying accident insurance to open a bank account
When contacting a bank, you may be given approximately the following conditions for opening a bank account:
- Certificate of Residence
- Mandatory purchase of accident insurance for 1 year (can be replaced by some document from the consulate of your country, which will reduce the cost of opening an account). The first year of service (approximately 400 baht) and the minimum amount to be credited to the account (approximately 700 baht) plus insurance can be around 7,000 baht.
That is, the cost of purchased insurance is about 5000 baht. Buying insurance for the second and subsequent years is optional! That is, it is a one-time payment.
In my case, the insurance is valid for 1 year and covers any accidents for only 100,000 baht. If you wanted to purchase such insurance anyway, then congratulations. I consider it just a small obligatory payment for opening an account.
Perhaps having a student or family visa will facilitate the opening of a bank account in Pattaya and they will open it for you without the obligatory purchase of insurance.
Interview when opening a bank account in Pattaya
In 2022, when opening a bank account in Thailand, I first encountered a survey, a conversation of a bank employee during the opening of an account. Perhaps this is due to the fact that I am from the Russian Federation, which is now subject to numerous sanctions. It may also be due to the general strengthening of financial control in Thailand. Either this is a feature of a particular bank or even a particular employee.
The bank employee was interested in such questions as:
1. Where exactly do I live (the name of the condominium instead of incomprehensible numbers in the certificates)
2. Do I have my own accommodation in Thailand or rent
3. Where exactly will the money be sent to my bank account – from Russia or from another country
4. What exactly do I do. When I answered that I am a webmaster and deal with websites, I asked to write the website addresses
5. Do I have bank cards of banks in my country, which banks exactly – the bank employee showed amazing erudition in knowing the names of Russian banks
When opening a bank account in Thailand, you will be given an agreement and other documents, such as an insurance card and insurance conditions.
But the most important document is Passbook – this document is required when replacing a bank card and any other operations with an account (for example, changing a phone number, updating passport data).
Currently, all banks in Thailand have mobile applications. You can ask a bank employee to set up online banking for you.
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