Banks in Thailand
List of Banks in Thailand
- Bangkok Bank Public Co. Ltd. …
- Bank of Asia Public Co. Ltd.
- Bank of Ayudhya Public Co. Ltd. ..
- CIMB Thai Bank Public Co. …
- Citibank Public Co. Ltd. …
- Government Savings Bank Public Co. Ltd. …
- HSBC Public Co. Ltd. …
- KasikornBank Public Co. Ltd. …
- Kiatnakin Bank Public Co. …
- Krung Thai Bank Public Co. Ltd. …
- MUFG Public Co. Ltd. …
- SCB Easy Net – Thailand’s First Internet Banking. Siam Commercial Bank offers a wide range of online banking services. …
- Siam Commercial Bank Public Co. …
- Siam City Bank Public Co. Ltd.
- Standard Chartered Public Co. Ltd. …
- Thanachart Public Co. Ltd. …
- TISCO Bank Public Co. Ltd. …
- TMB (Thai Military Bank) Public Co. Ltd. …
- UOB Public Co. Ltd.
How to Open a Bank Account in Thailand?
In order to set up a bank acount in Thailand, you usually need the following documents:
- Passport
- Work Permit
- Proof of Address in Thailand
Currency of Bank Account in Thailand
- Thai Baht (THB), Pounds Sterling (GBP) US Dollars (USD), Euros (EUR)
The banks usually will issue a debit card (Mastercard or Visa card). It may be possible to set up a new bank account without a work permit. You need to visit all the banks in person with your current bank statements and proof of address in Thailand.
It may be prudent to open a local bank account in Thai Baht, where you place small amounts of money & open an international bank account where you hold the majority of your money in an international currency such as USD, GBP or EUR.
This is because, if you open up an international currency account in Thailand, they will charge you for holding such an account.
Many Brits open local bank accounts in THB, then hold an offshore account in GBP, EUR or USD for security.
Many British expats in Thailand then opt to set up an offshore insurance wrapper to trade shares & bonds to beat inflation and target single or double digit returns on your money, whilst not attracting any offshore taxes.
What is Proof of Address?
This is usually a utility bill, letter of proof of residence from your landlord or letter from the British embassy confirming your address.
How Much is the Baht Worth
1 USD = 33 Baht*, 1 GBP = 44 Baht*
*12th Nov, 2021
Many British expats in Myanmar then opt to set up an offshore insurance wrapper to trade shares & bonds to beat inflation and target single or double digit returns on your money.
Offshore wrappers have no capital gains tax & no income tax. There is no tax on death if you are non-domicile in the UK (i.e. you are a permanent resident abroad).
Want to Open an International Bank Account?