Banking in Thailand

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Banking

Most farang’s (that’s you) tend to keep the bulk of  their funds in the bank in the west either in the home country or off shore bank bringing in money as needed either monthly or as needed in larger amounts.

Internet banking has also made things much easier as you can run your account without contacting the bank, a word of caution be very careful about internet banking from internet cafe’s , there are many different ways for people to record your passwords on public computers. So your pension can be sent to your local bank every month and you can have it sent to Thailand or withdraw it at the whole in the wall.

List of banks in Thailand

Bank of Ayudhya
Bangkok Bank US$30.5 billion in total assets and over 600 branches, largest bank ofThailand, established 1944
Bank Thai
Government Savings Bank
Kasikorn Bank Public Company Limited, established 1945 as Thai Farmers Bank Krung Thai Bank Public Company Limited (KTB) over 500 branches, second largest bank
Siam Commercial Bank Public Company Limited, established 1904
TMB Bank (Thai Military Bank)
United Overseas Bank (Thai)
Click For Exchange Rates XE Personal Currency Assistant XE Personal Currency Assistant Banking

Bank In Thailand Wire transfer is not expensive as long as it is proportionate to the amount you are bringing in, many people withdraw funds with an ATM card, and this is viable if your bank does not charge or at least does not charge a large fee for an international withdrawal.

Exchange Kiosks seem to be on every corner usually with very clear exchange and commission rates displayed most are owned or associated with big banks, there is not a black market in currency exchange.

Thai banks each seem to have huge numbers of branches in each reasonable size town, there are many well established well funded banks there is not one that needs to be specifically recommended ask your lawyer or some who already has a local account for a recommendation, your lawyer would make an introduction if you wish but it is usually reasonably easy to open an account with just passport and maybe proof of address even on a tourist visa.

You can open a Thai Baht account and /or a Dollar, Pound, Euro account they will usually give you your ATM card and pin number there and then before you leave the bank. Many banks have a special desk just for ‘farangs’ and many bank employees are well educated and speak good English.