Which bank will open your account
Thai banks have rules, and then they have branch managers. In practice the easiest banks for foreigners on a DTV / LTR / Privilege visa are Kasikorn (K-Bank) and Bangkok Bank. SCB is workable but increasingly strict. Krungsri (BAY) is often the easiest for retirement-visa holders.
The pattern that works: visit a large branch in a tourist-heavy area (Boat Avenue or Patong), bring your passport, visa, proof of address (rental contract works), and a Thai phone number. Smaller local branches will often refuse.
Documents you need
- Passport with valid Thai visa (DTV / LTR / Privilege / ED)
- Proof of address — rental contract or hotel receipt
- Thai mobile number (AIS or True is fine; takes 30 min at any branch)
- ฿500 – 1,000 minimum opening deposit
- Sometimes: a letter from the embassy (Bangkok Bank still asks for this; Kasikorn often skips it)
Moving money in
For sums under $50K, Wise (formerly TransferWise) is the default — 0.4-0.7% all-in, lands same-day. Revolut works similarly. For larger amounts (deposits on rentals, school fees), a SWIFT transfer through your home bank is usually fine but slower.
Important for visa renewals: some long-stay visa categories require proof that money came from abroad (FTT — Foreign Transaction Trail). Save Wise / SWIFT receipts. Your Thai bank can also issue an FTT certificate on request.
Day-to-day spending
Thailand is rapidly cashless. PromptPay (Thai QR-payment network) is everywhere — markets, taxis, even some street food. Your Thai debit card opens up scan-to-pay, which is dramatically easier than carrying cash.
For larger purchases (cars, deposits, big appliances), bank transfer via mobile app is the standard. Your Thai bank app will be your most-used app within a month.
Tax considerations
Thailand taxes foreign income remitted to Thailand (after a 2024 reform). Long-term residents on LTR get a flat 17% on Thai-sourced income and exemptions on foreign income. DTV holders pay normal Thai income tax on remitted foreign income. Talk to a Thai tax advisor before optimizing — common providers: Mazars, Sherrings, MSNA.