Not every bank in Thailand is the same. There are over ten banks to choose from.
So how do you know which one is right for you?
This guide will show you the pros and cons of each bank in Thailand.
Easiest Banks to Deal with
Easiest banks to deal with are Bangkok Bank and Kasikorn Bank. Those two banks are the easiest to work with and can cover 95% of all your banking needs, from savings accounts to credit cards and international transfers.
Both hold a reputation as being easier to work with and more lenient with foreigners than other banks.
But they are not the only available choices. Depending on your specific needs and immigration status, different banks might be a better pick.
Kasikorn
Kasikorn, or the green bank, is one of the major retail banks in Thailand, with a large branch and ATM network.
The best part about Kasikorn Bank is that you can find them in many places in Thailand.
They have a good support team that can be reached in many ways.
It is the go-to bank for many Thai people.
If you work in a Thai company, there’s a good chance you’ll need to open a Kasikorn Bank account to get your salary.
The downside to having an account at Kasikorn is that you’ll often have to wait in long lines if you do your banking at a branch.
Because they’re so popular, their branches are often crowded, both on the weekdays and weekends.
For Kasikorn Bank, a foreigner-friendly branch is often considered to be their branch on Sukhumvit 33. Kasikorn Bank is one of the easier ones to work with when it comes to credit cards.
They may also offer a cheque book if you open an eligible current account. On the downside, foreign currency cheques are now harder to use in Thailand, and policies vary by branch.
SCB
SCB, or the purple bank, is another popular bank for Thais. Everything they offer is quite similar to Kasikorn. But their branches are less crowded.
That means you won’t have to wait in long lines when visiting the bank.
What sets SCB apart from other banks is their quickness in integrating new technologies and facilities to their banking system.
They were also quick to roll out QR-code payments.
In addition, SCB is also good at partnering up with other service providers.
They also offer a stock brokerage account. It feels a bit rusty compared to what you’ll find in other countries, but it gets the job done and transaction costs are cheap.
Bangkok Bank
The best part about Bangkok Bank, or the blue bank, is their international transfer process. They have branches in many parts of the world, including London, New York, and Tokyo.
When you transfer funds to the Bangkok Bank in that country, it can be deposited into your Bangkok Bank account in Thailand in a matter of days.
This may help you pay lower transfer fees and get better exchange rates than if you used some other transfer methods.
You can check this page to find out more information.
But the main drawback of Bangkok Bank is their support system. You may have to wait to get in touch with them by phone.
And their bank branches are usually crowded.
In terms of specific branches, Bangkok Bank’s main office on Silom Road is mentioned as the best branch to visit.
Krung Thai
Krung Thai, or the light blue bank, is a state-owned commercial bank. But the services offered are comparable to the services at private banks. The best part about Krung Thai is that you won’t usually have to wait in long lines like at other banks.
A majority of people who have an account with Krung Thai are government officers, so most of Krung Thai’s customers are at work during bank hours.
The main drawback of Krung Thai bank is their technology. Their online banking and bank application aren’t intuitive or as useful as other banks.
But they’re improving them every day.
Krungsri
Krungsri, or the yellow bank, is known for their monthly installment promotions. They regularly offer 0% monthly interest rates when you buy something with your Krungsri credit card.
Government Savings Bank
Government Savings Bank, also known as Aomsin, or the pink bank, is another popular state-owned bank. The main reason Thais open a bank account with Aomsin bank is because of their savings lottery products.
They have savings lottery products in which you receive lottery numbers for eligible deposits or savings certificate units.
If you win the lottery, cash is transferred to your account automatically.
Prize amounts and deposit requirements vary by product and draw.
ttb (formerly TMB)
ttb, formerly TMB, is known for its All Free account, which is promoted for fee-free ATM withdrawals at ATMs in Thailand.
TMB was also one of the first banks that didn’t charge for a wire transfer to other banks with their account type All Free.
ttb also offers regular promotions that give their customers competitive interest rates on saving accounts.
The main drawback of ttb is the availability of their bank branches. They have fewer branches than the largest retail banks in Thailand.
Other
There are other banks that aren’t mentioned here. They are more like specialized banks on specific issues rather than banks for everyday finance.
Which Bank Should You Use?
With all these banks available in Thailand, the next question would be: Which bank should you use? Assuming you have everything you need for opening an account, you can pick any bank from the list above.
All of them cover 95% of your banking needs.
A passport and proof of address are commonly required for opening an account here, but exact requirements vary by bank, branch, visa, and residence status.
Also, they might ask for any of the following documents:
- Thai driving license
- Thai house registration
- your lease
- letter of reference from a reputable Thai person, an embassy, a university, or a similar person or organization in high standing
- letter from a company stating that you’re in the process of getting a work permit
- message from your home bank to the Thai bank via SWIFT messaging
If you’re on a tourist visa or don’t have any of the supporting documents, then your choices are limited.
Each bank branch has different policies. So if you don’t get accepted by Bangkok Bank on Sukhumvit, you can try another Bangkok Bank.
You may be able to find one bank branch that’ll let you open an account.
You can also read this article to find the easiest bank to open an account even on the tourist visa.
Deutsch:
Français:
Español: