Expat & Expat-Thai: Opening A Bank Account & Bank Account Regulations.

Not as petty as it might seem.

If you are going to live abroad permanently this does require a degree of understand regarding local laws and regulations concerning foreigners opening bank accounts.

Many countries are obliging when it comes to a foreigner opening a bank account in that country. However this is not always the case.

In Thailand for many years banks were happy allowing foreigners to open a bank account.

Then occasionally the Bank Of Thailand announces new rules. Once it was that you needed a work permit to open a bank account, then the banks required to see some sort of non-immigrant visa.
More recently it appears that most of the time it is dependent on which branch of a particular bank you visit as to whether you will be accepted as a new customer.

Don't forget that in Thailand as a non-resident you will not be paid the full rate of interest on a savings account that Thai nationals enjoy, only a small percentage of the interest rate.
It seems that the way around this is to open an account (or a joint account anyway) with a local. An awful lot of trust needed for this one!

Paperwork necessary to open a business account can be daunting, so be prepared. Often in newspapers there are stories of foreigners being refused an account, then going to a different branch of the same bank and being successful.

This may sound crazy, but to quote a Thai expat phrase: This is Thailand!

 To apply for a credit card is not always easy. As a Thai you will have your credit rating checked (as in any other country). As a foreigner here, there is very little chance of you having any form of Thai credit rating, making it difficult to gain a credit card.

It is not unheard of for a foreigner wishing to apply for a credit card to be issued with one on the basis that the credit limit is equal to a bond deposited at the bank. This makes it in effect a debit card, rather than a credit card.

Unfortunately another restriction on some Thai credit cards is that due to the high level of fraud, the cards are only valid within Thailand, not internationally. This makes it virtually impossible to use the card on the internet for this reason.

If you're looking to invest financially from abroad to Thailand, then please make sure you take professional advice in this area.
In the worst case situation you could find your funds transfer from abroad having 30% of the value held back by the Bank of Thailand for a year under anti-money-laundering laws.