Money and Banking: Bank Account Requirements

Opening a local bank account can make residing abroad easier.

Banks have varying requirements to open an account.

In Thailand , banks are required to verify your identity before you can open an account. To do this, you must present a passport, a valid work permit or retirement visa, proof of address (e.g., a utility bill or rental agreement), and a minimum deposit that is typically between THB 500 and THB 1,000. Some banks may waive the requirement for a work permit. A valid work permit, an employer reference, a letter of recommendation from the embassy of your country, and a minimum deposit may also be required. Contact your bank for its exact requirements.

You’ll need to decide what type of account(s) to open, which will depend on how you like to access your money and how frequently you’d like to do so.