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Banks in Thailand are generally open from 9.30am to 3.30pm, Monday to Friday. Most banks have money-changing booths and ATMs that are open daily.
The leading Thai banks have their head offices in Bangkok and most have branches in the provincial towns, and offer customers a full range of retail banking services.
In general, there are four types of accounts available to foreigners in Thailand:
Thai baht savings account Current account Foreign currency deposit account Business bank account Typically, current accounts are used for everyday banking needs, and offer customers easy access to funds and a range of services, including card facilities. Savings accounts generally offer a more competitive interest rate than current accounts, but savings accounts may provide limited access to funds, and interest penalties may be incurred if account withdrawals are made beyond an agreed limit. Deposit accounts are likely to offer the most competitive rates of interest, with many offering a fixed rate of interest in return for customers depositing funds for a fixed period of time. Access to funds before the account matures is limited, so deposit accounts should be viewed as a long term savings plan. 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 may vary between banks. If your 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 local 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. ATMS can be found in most of the major towns and cities, along with ATMs located at bank branches. As with credit cards, if you are using a foreign bank card, or a card in a machine outside of your banks network, then a charge for using the service may be applied. The majority of ATMS in Thailand provide both English and Thai instructions for customers. Credit Cards International credit cards such as American Express, MasterCard and Visa are widely accepted at large stores and restaurants in Bangkok and other main cities.You should apply caution when using credit cards in smaller establishments, as charges applied to transactions may be high. List of Banks in Thailand |
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