Bank Account Services in Thailand
Banking Services in Thailand
Thai Visa Legal provides comprehensive services related to opening and managing bank accounts in Thailand, both for companies and foreign individuals. We have expertise in working with leading Thai banks and understand the requirements and processes involved. Our team is ready to assist you at every step, from document preparation to coordination with banks and post-opening support.
Our Services
1. Company Bank Account Opening
Opening a bank account is an essential step for companies registered in Thailand, necessary for conducting business, performing financial transactions, and complying with legal requirements.
Our Services:
Bank Selection Consultation – Recommending suitable banks for your business type and size
Account Type Advice – Current accounts, savings accounts, fixed deposit accounts, or foreign currency deposit accounts
Document Preparation – Gathering and preparing all documents as required by the bank
Bank Appointment – Coordinating and scheduling meetings with bank officers
Interpreter Services – Providing interpreters for communication between you and the bank (if necessary)
Liaison Services – Acting as a liaison between your company and the bank
Status Tracking – Monitoring the account opening status until completion
Required Documents for Company Accounts:
Latest company registration certificate (issued within 3 months)
Company regulations
ID cards or passports of authorized directors
Company seal (if any)
Board resolution regarding bank account opening
List of shareholders
Company tax ID
Evidence of company location (e.g., lease agreement)
Other documents as required by each bank
2. Bank Account Opening for Foreigners
Opening a bank account in Thailand as a foreigner can be complex and has specific requirements. Thai Visa Legal specializes in helping foreigners navigate this process smoothly.
Our Services:
Visa Type and Eligibility Consultation – Advising on which visa types are suitable for bank account opening
Foreigner-Friendly Bank Recommendations – Suggesting banks with policies welcoming foreign customers
Document Preparation – Helping gather and prepare required documents
Document Translation – Translating necessary documents into Thai or English
Interpreter Services – Providing interpreters to help communicate with bank officials
Bank Visit Services – Accompanying you to the bank and assisting throughout the process
Types of Accounts for Foreigners:
Savings Accounts – For general deposits and everyday transactions
Current Accounts – For business operations and check writing
Fixed Deposit Accounts – For long-term investments and higher returns
Foreign Currency Deposit Accounts (FCD) – For maintaining value in foreign currencies
Required Documents for Foreigners:
Valid passport
Valid visa (e.g., Non-Immigrant Visa, Retirement Visa)
Work permit (for those working in Thailand)
Proof of address in Thailand (e.g., lease agreement, utility bills)
Recommendation letter from employer (for those working)
Proof of source of funds
FATCA forms (for US nationals)
Other documents as required by each bank
3. Financial Transaction Consultation Services
Beyond account opening, we also provide consultation on various financial transactions in Thailand, enabling you to conduct business efficiently and comply with legal requirements.
Our Consultation Services:
International Money Transfers – Advice on efficient and cost-effective methods for international transfers
Currency Exchange – Guidance on approaches to get the best exchange rates
Transaction Reporting Requirements – Information about requirements for reporting financial transactions to relevant authorities
Tax Payments – Advice on tax payments through the banking system
Online Payment Systems – Information about online payment systems in Thailand
Financial Risk Protection – Advice on protection against exchange rate risks
Regulatory Compliance – Information on compliance with financial regulations in Thailand
Key Issues We Consult On:
Requirements for bringing money in and out of Thailand
Regulations regarding foreign exchange controls
Compliance with Anti-Money Laundering (AML) measures
Reporting of high-value transactions
Financial disclosure requirements for foreigners
Taxes related to financial transactions in Thailand
4. Banking Coordination Services in Thailand
We act as an intermediary between you and banks in Thailand to help resolve issues and facilitate various transactions.
Our Coordination Services:
Bank Account Problem Resolution – Helping resolve issues with bank accounts, such as frozen accounts or transaction limitations
Account Information Updates – Assisting with updating bank account information, such as address changes or new passport details
Report and Document Requests – Helping request bank statements and important documents
Money Transfer Tracking – Assisting with tracking international money transfer status
Fee Negotiation – Helping negotiate fees and interest rates
Limit Increase Requests – Assisting with requests for transaction limit increases or credit card limit increases
Interpreter Services for Bank Communications – Providing interpreters to assist in communication with banks
Banks We Work With:
Bangkok Bank
Kasikorn Bank
Siam Commercial Bank
Krung Thai Bank
Bank of Ayudhya (Krungsri)
Kiatnakin Bank
TMB Thanachart Bank
CIMB Thai Bank
Foreign banks with branches in Thailand, such as HSBC, Citibank, Standard Chartered
Important Information About Bank Accounts in Thailand
For Companies
Company bank accounts must be opened after company registration is complete
Authorized directors must appear at the bank in person
All company documents must be complete and up-to-date
Some banks may have minimum deposit requirements and account maintenance fees
Changes to account details, such as authorized signatories, must be reported to the bank with updated documents
For Foreigners
The ease of opening an account depends on visa type and length of stay in Thailand
Long-term visas such as Non-Immigrant Visa B (Business), O (Family), or Retirement are typically more favorable for account opening
Each bank has different policies and requirements for foreign customers
Some banks may have specific branches that serve foreign customers
ATM cards and online banking services are available for foreigners as well
Providing proof of address in Thailand is important
Why Choose Thai Visa Legal
Expertise – We have experience and expertise in working with banks in Thailand
Good Relationships – We maintain good relationships with many leading banks, making processes smoother
Comprehensive Service – We handle every step, from document preparation to follow-up
Clear Communication – We communicate in both Thai and English, helping ensure effective communication with banks
Regulatory Understanding – We understand financial and banking regulations in Thailand thoroughly
Problem Solving – We have experience in effectively resolving issues related to bank accounts
Frequently Asked Questions
Q: Can foreigners with tourist visas open bank accounts in Thailand?
A: Generally, Thai banks do not open accounts for tourist visa holders. However, some banks may consider special cases if sufficient supporting documents are provided, such as proof of address in Thailand or recommendation letters from reliable sources.
Q: What type of bank account is suitable for receiving salary in Thailand?
A: A savings account is the most suitable type for receiving salary, as it allows convenient transactions and earns interest. Most banks provide ATM cards and online banking services for convenience in spending and checking balances.
Q: Can companies with foreign directors open bank accounts?
A: Yes, companies with foreign directors can open bank accounts. Foreign directors with signing authority must have proper documentation, such as passports, valid visas, and work permits. However, some banks may have additional requirements or more stringent verification processes.
Q: Are there restrictions on transferring money into Thailand from abroad?
A: There are no restrictions on transferring money into Thailand. However, large transfers may require declaration of purpose and source of funds, and may need to be reported to the Bank of Thailand. Additionally, there are specific requirements for transferring money out of Thailand that must be followed.
Q: Can I open a Foreign Currency Deposit (FCD) account?
A: Yes, many banks in Thailand offer Foreign Currency Deposit (FCD) accounts, which allow you to deposit money in various currencies such as US dollars, euros, or British pounds. However, there are specific requirements for opening this type of account, and there may be usage restrictions depending on your residency status and purpose.
Contact Us
For more information or to schedule a consultation about our bank account services, please contact Thai Visa Legal:
Phone: 080-765-6400
Email: info@thaivisalegal.com
Website: www.thaivisalegal.com
Office: 83 Sukhumvit 93, Bangchak, Prakanong, Bangkok 10260 Thailand
Our expert team is ready to provide consultation and assist you in opening and managing bank accounts in Thailand.