For a comfortable life in Thailand, you’ll need a local bank account.
You don't need a Thai bank account to buy real estate in Thailand, but you’ll need it to receive income when renting out real estate.
Content:
- Documents required for opening a bank account
- Opening an account with a tourist visa
- Banks in Thailand
- Account opening conditions
- Types of bank accounts and bank cards
- PromptPay: how Thailand actually pays
- Features of bank accounts and cards in Thailand
- ATMs
- What an investor should know: exchange of tax information
- Frequently asked questions
Documents required for opening a bank account
A foreigner has the right to open an account in a bank in Thailand. But this requires several documents and you may face the unpleasant side of the Thai bureaucracy.
Documents required for opening an account:
- passport;
- work permit (or a letter from your company stating that you are in the process of obtaining a work permit);
- non-immigrant visa;
- lease agreement for at least one year/ownership of real estate/leasehold agreement;
- Thai sim card;
- a TM30 receipt — the immigration notification of where you live, filed by your landlord or hotel. For the bank it serves as proof of address. Nobody asks for the paper TM6 arrival card any more: it has been abolished, and since 1 May 2025 every traveller instead files the electronic Thailand Digital Arrival Card at tdac.immigration.go.th no later than three days before the flight.
Some branches ask for a Residence Certificate from the immigration office instead of the TM30. It takes several days to obtain, so check the bank’s requirements in advance.
The list of documents may vary not only from bank to bank but also from branch to branch. If you were unsuccessful in opening an account in one place, you can try again in another office.
If you have a student visa, the bank may ask for a letter from the educational institution to confirm the status. A letter from the employer may be requested along with a work permit.
In addition to the lease agreement, the bank may ask for the personal info of the apartment owner and the registration book of the house (Tabien Ban).
Opening an account with a tourist visa
It used to be a matter of finding the right branch. In 2026 the rules have tightened noticeably: the major banks have stopped accepting applications from tourist visa and DTV holders, and since July 2026 many branches no longer work with ED student visas either. Bangkok Bank, for years considered the most welcoming to non-residents, now requires a long-term visa — Non-B, Non-O, LTR or a retirement extension.
That does not mean there is no way in. Branches in resort towns and expat districts are still more flexible, and the requirements at Kasikornbank and Siam Commercial differ from branch to branch. The practical approach is to try three or four branches of the large banks rather than judge by a single refusal.
The second working route is to open the account through the agency or lawyer handling your property purchase. It is a paid service, but it settles the paperwork and the choice of branch for you.
Once you open an account as a resident with a non-immigrant visa, more features will be available to you.
Banks in Thailand
The most popular banks in Thailand:
- Bangkok Bank
- Siam Commercial Bank
- K-bank (Kasikornbank)
- Bank of Ayudhya (Krungsri)
- KrungThai
- ttb — TMBThanachart Bank. The bank no longer operates under its former name TMB: it merged with Thanachart Bank in 2021.
In addition to Thai banks, there are foreign banks in the country, for example, United Overseas Banks (UOB) and the Industrial and Commercial Bank of China (ICBC), Citibank. But the list of documents for opening an account there is the same throughout. There are representative offices of other American and European banks in Thailand but they only deal with corporate clients.
Account opening conditions
To open an account, you must deposit $15–60 (500–2,000 Thai baht), as well as pay $9–15 (300–500 baht) for a bank card. In addition, some banks demand insurance, which typically costs between $150 and $240 (5,000–8,000 baht). In some banks, the cost of the card includes insurance. Remember that the branch where you opened the account will become your "home" branch and that the majority of your transactions can only be made there.
The insurance is almost always optional, although it is offered as if the account depended on it. Ask directly whether it is required to open the account: half the time the answer is no. One more detail — the card issued is usually unembossed and carries an annual fee, typically 300–600 baht.
The paperwork takes from half an hour to an hour and a half. When the account is opened your face is scanned and linked to the mobile app — a Bank of Thailand requirement aimed at fraud prevention.
Withdrawing cash from your own bank’s ATM is free; another bank’s machine usually charges 10–20 baht. The daily withdrawal limit depends on the bank and the card, and is normally 20,000–50,000 baht.
Types of bank accounts and bank cards
Saving Account: The most common type of account for foreigners in Thailand. Opening an account requires only a small deposit linked to your debit and/or credit card. The bank provides a bank book (or a savings book) in which transactions can be printed at ATMs or a bank branch.
Current Account: Current accounts include a chequebook. To open such an account, you’ll need a work permit, a letter from your employer and a larger down payment.
Foreign Currency Deposit account: usually in US dollars, it suits anyone earning outside the baht — the money stays in foreign currency and you choose when to convert. The requirements are softer than they used to be, though the paperwork and limits differ from bank to bank.
Savings account: There are different types of deposit accounts (3 months, 6 months, 12 months, etc.). Different conditions and interest rates apply. You need to find out the information directly at the bank or on the bank's website.
Debit and credit cards are issued in Thailand.
A debit card is linked directly to your account, so you can only spend what you have in the account. This is the card that the bank gives you by default when opening an account. Most foreigners are given an unembossed card.
A credit card gives you access to credit facilities with a grace period on the interest. To be eligible for a credit card, you’ll need a salary history in Thailand of no less than 6 months. Credit cards in Thailand can be used to rent a car or pay for a hotel reservation. They offer a wide range of benefits, including miles on Thai airlines, free movie tickets, discounts in many shops and restaurants, etc.
PromptPay: how Thailand actually pays
PromptPay, the national payment system, is what Thailand uses every day instead of cards and cash. It links an account to a phone number and lets you transfer money and pay by QR code: at the market, in a taxi, in a café and for utilities.
- A foreigner registers for PromptPay after opening an account, using a Thai mobile number or a passport number. It is normally set up at the branch.
- Transfers up to 5,000 baht are free. Above that the fee is nominal: 2 baht up to 30,000, 5 baht up to 100,000 and 10 baht up to a million.
- There are limits: 50,000 baht per transfer to a phone number, and once your daily total reaches 200,000 baht the app asks for a face scan.
For an apartment owner this is practical: the tenant pays by QR code, the money arrives instantly and free of charge, and the account statement doubles as proof of income.
"A refusal at one branch means almost nothing. We take clients to specific branches where the staff have already dealt with foreigners and know which set of documents will pass. The difference between two branches of the same bank is often bigger than the difference between banks."
— a specialist in property transaction support in Thailand
Features of bank accounts and cards in Thailand
There is no IBAN in Thailand, so to make an international transfer to Thailand, you’ll need to provide your bank with the SWIFT code of the Thai bank to which you want to send the funds.
In Thailand, bank cards are not accepted everywhere. The card may not be accepted in a large store or a small shop on 7/11. Payment using a QR code through the bank's application is very popular.
Thai banks have Internet banking and mobile banking services. The bank will immediately instal a mobile application and register your account in it. With the help of a mobile application, you can pay for the services of a mobile operator or pay utility bills.
Transfers from an account to an account in Thailand are carried out instantly and without commission. For the transfer, the account number, not the card number, is used which is specified in the bank book.
Is it possible to open a Thai bank account online? No: an application can sometimes be started in an app, but you are identified in person at the branch, where the bank checks your passport and takes your biometrics. The remaining operations can be carried out through Internet banking or mobile banking.
ATMs
There are a lot of ATMs in Thailand, each 7/11 or Family Mart store must have an ATM, usually several and of different banks. In addition, ATMs are located at metro stations and shopping malls.
There are different types of ATMs: ATMs and CDMs. Through the ATM, you can withdraw cash, pay for services and transfer money to another account. A CDM not only issues but also accepts cash. Through this type of ATM, you can top up your account and update your bank book data.
This is the strongest argument for having a Thai account. Withdrawing with a foreign card costs 250 baht per transaction for Visa and up to 350 baht for Mastercard, and the fee is charged by the Thai machine whatever your own bank does. The ATM will also offer to convert at its own rate — decline that and choose to be charged in baht. Ten withdrawals over a trip add up to 2,500–3,500 baht that a local account holder simply does not pay.
What an investor should know: exchange of tax information
A Thai account is no longer closed off from the outside world. Since September 2023 Thailand has taken part in the automatic exchange of financial information under the CRS standard: banks collect data on their clients’ tax residency and pass it to the Revenue Department, which shares it with tax authorities abroad.
- When opening an account you will be asked to fill in a self-certification form stating your country of tax residence and your taxpayer identification number. Answer honestly — the data is cross-checked anyway.
- The bank may also request confirmation for an existing account if the details are out of date. Do not ignore such a letter: the account can be restricted until the matter is settled.
- Interest on deposits is subject to 15% withholding tax. Rental income follows different rules, which depend on whether you have become a Thai tax resident — that happens after 180 days in the country within a calendar year.
One more practical point: several long-term visas require a Thai account with a specific balance. For the retirement route that is 800,000 baht (about $24,150), which must sit in the account for several months before you apply. If such a visa is in your plans, open the account well in advance.
Frequently asked questions
Can I open an account on a tourist visa in 2026?
The major banks no longer accept such applications. There is still a chance at branches in resort towns or through an agency, but do not count on it — a long-term visa is the reliable route.
Do I need an account to buy an apartment?
No, the money is sent from abroad straight to the seller or the developer. You will need an account later — for utilities, maintenance fees and rental income.
How much does the account cost to run?
An initial deposit of 500–2,000 baht, 300–500 baht to issue the card and a similar annual fee for it. Insurance is offered almost every time, but it is usually optional.
Can the account be opened remotely?
No. An application can sometimes be started in an app, but your passport and biometrics are checked in person at the branch.
Does a Thai bank report my account to another country?
Yes, Thailand has taken part in the automatic exchange under the CRS standard since September 2023. You fill in a tax residency form when opening the account.