Thai banks not accepting American citizen’s money!

Thai banks not accepting American citizen’s money!

Postby len on Mon Oct 07, 2013 4:50 pm

Heard that Thai banks won’t accept American citizens opening bank accounts in Thailand due to strict demands the American tax folks are now taking on tracking overseas money. Can someone tell me if this is already in effect?

What about existing accounts? Do they have to close??

Have any of you tried to open an account lately in Thailand? Thank you.
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Re: Thai banks not accepting American citizen’s money!

Postby aussiedoug on Tue Oct 08, 2013 10:13 am

I did read that somewhere, apparently many small banks around the world are getting sick of Uncle Sam asking stupid, frequent and voluminous questions, so the way over this is to have no american depositors to answer questions about. Now, whether this applies in Thailand I doubt it, most of the thai banks deal a lot with the USA and will have to grin and bear it. Happy to be corrected if someone has another experience.
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Re: Thai banks not accepting American citizen’s money!

Postby ccarbaugh on Tue Oct 08, 2013 8:45 pm

I am an American and I have 2 accounts at 2 different Thai banks.
I haven't heard about any impending closures and, since Thailand
has always been such a close ally with the U.S.A., I don't expect it-
although it would show some definite "cajones" if they did!
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Re: Thai banks not accepting American citizen’s money!

Postby Ian on Wed Oct 09, 2013 11:13 am

In many countries Americans are surrendering American citizenship because of this, taking up citizenship of the country they are living in. But in Thailand you are stuffed, you won't get Thai citizenship.
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Re: Thai banks not accepting American citizen’s money!

Postby AllSmiles on Wed Oct 09, 2013 6:17 pm

If you are having trouble opening a Thai Bank account the only thing that could be standing in your way is your visa. If you are here on a tourist visa you can not have a bank account. Any long stay visa is all you need.
The other reason you are trying to apply is simply rubbish.
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Re: Thai banks not accepting American citizen’s money!

Postby martinbkk on Thu Oct 10, 2013 1:20 pm

Most banks will usually allow you to open a savings account no matter your visa status. This will give you a passbook and an ATM card. A current account with cheque book and other facilities usually requires a work permit or some other valid long term status. Be sure to make it clear you want a savings account, and find a staff member at the bank who actually understands the difference.

Savings accounts are what many Thai people use and there are few things you cannot do with them.
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Re: Thai banks not accepting American citizen’s money!

Postby nowayout on Thu Oct 10, 2013 7:19 pm

I have opened 8 bank accounts with various banks in Thailand ranging from Savings Accounts, Current Accounts and Fixed Accounts. Every one of the Banks needed a copy of my passport and work permit no matter if it was a Savings account. You can open an account if just on a tourist visa but you that type of account doesn't give any interest. At least that's what one bank told me many years ago when I asked why they needed my work permit.
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Re: Thai banks not accepting American citizen’s money!

Postby martinbkk on Fri Oct 11, 2013 5:49 pm

Yes, quite true, no interest. Just a place to keep your money and get at it from an ATM or send to others through ATM.
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Re: Thai banks not accepting American citizen’s money!

Postby Sabaidii on Mon Oct 14, 2013 12:04 am

martinbkk wrote:Most banks will usually allow you to open a savings account no matter your visa status


This is not true. I was rejected by countless banks all over Thailand trying to open a simple savings account on a 90 day tourist visa. I have a white face and an EU passport if anyone wonders.
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Re: Thai banks not accepting American citizen’s money!

Postby benp on Thu Oct 17, 2013 6:37 am

think it would be a good idea to contact the bank or banks concerned!
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