Living and working in Thailand

Bank Account In Thailand

Last udate: November 2011

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The times when you got a 16 to 18% interest rate on a three month time deposit are over since the Asian Crisis in 1997. But still, having a bank account in Thailand is the safest way to keep your money.

The banking system has greatly improved over the last years, you will always get a ATM Card for your account, some of the bigger banks even offer international credit cards to their customers. (Bangkok Bank, Siam Commercial, Bank of Ayudhaya..) In the towns and the tourist centers you will find those ATM machines on every corner and they usually speak Thai & English.

I would still recommend to open an account at one of the smaller banks. At the big ones you may have to fall in line for an hour or so if you come on an unluckily day when the Thai workers get their monthly check.

Opening an account is easy, just bring your passport and an address and some money to put in.

Foreigners can also open a time deposit account in foreign currencies such as US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar. There are however some restrictions on that, have a look on this web site for more information or here!

The following Banks in Thailand offer "Online Banking":

Warning: Do not, under no circumstances open an account on the name or with access of your Thai partner, with your money on it. You can not trust any Thai not to disappear with an multi thousand Dollar account.