As of July 2025, Thailand’s major banks have introduced updated procedures for foreign nationals seeking to open personal bank accounts, including members of the Thailand Privilege Card program. These changes are in response to enhanced compliance standards issued by the Bank of Thailand and have been implemented by Siam Commercial Bank, Kasikorn Bank, and Bangkok Bank.
Members should be aware of stricter documentation requirements, more thorough verification processes, and potentially longer processing times. Preparing all required documents in advance will help avoid unnecessary delays.
Standard Required Documents by Bank
The following checklist outlines the standard documentation currently required for new account openings. Please note that requirements may differ slightly between banks:
| Document Description | Siam Commercial Bank | Kasikorn Bank | Bangkok Bank |
|---|---|---|---|
| Passport with Thailand Privilege Visa | ✓ | ✓ | ✓ |
| Thailand Privilege Membership Card + Certified Letter | ✓ | ✓ | ✓ |
| Driver’s License / National ID (Home Country) | ✓ | ||
| Lease Agreement / Ownership Docs / Consent Letter | ✓ | ||
| Utility Bill (e.g., electricity or water) | ✓ | ||
| Thai Phone Number | ✓ | ✓ | ✓ |
| Proof of Purpose for Opening Account | |||
| Local Residential Address (not hotel/business) | ✓ | ✓ | ✓ |
| Home Country Tax Identification Number | ✓ | ✓ |
Note: Applicants from Iran, North Korea, Myanmar, Russia, and Belarus may be asked to submit additional supporting documents at the bank’s discretion.
For Members with Overseas Business Registration
If your primary income or business registration is overseas, additional financial documentation may be required.
| Document Description | Siam Commercial Bank | Kasikorn Bank | Bangkok Bank |
|---|---|---|---|
| Translated Bank Statement (Thai-certified) | ✓ | ||
| Company Registration Certificate | ✓ | ||
| Proof of Corporate Income Tax Filing | ✓ |
Account Maintenance and Fee Structure
| Detail | Siam Commercial Bank | Kasikorn Bank | Bangkok Bank |
|---|---|---|---|
| Minimum Initial Deposit | 500 THB | 500 THB | ✘ |
| Minimum Balance Requirement | 2,000 THB | 2,000 THB | 2,000 THB |
| Maintenance Fee (if inactive) | 50 THB/month after 12 months of no activity and balance ≤ 2,000 THB | 50 THB/month after 12 months of no activity and balance ≤ 2,000 THB | ✘ |
Opening a Foreign Currency Deposit (FCD) Account
Members seeking to hold foreign currencies in Thailand should take note of the differing requirements:
| Requirement | Siam Commercial Bank | Kasikorn Bank | Bangkok Bank |
|---|---|---|---|
| Minimum Initial Deposit | No Minimum | 5,000 USD | The member must have held a Thai Baht (THB) account with the bank for a minimum period of 3 months. |
| A valid lease agreement for a house or condominium with a minimum duration of one year is required. |
Expert Advice from a Banking Perspective
Opening a bank account as a foreigner in Thailand is no longer a casual walk-in process. Based on the current regulatory climate:
✅ Plan ahead: Begin preparing documents well before your intended appointment date, especially if you’re traveling or not yet settled in a permanent residence.
🔄 Maintain account activity: To avoid unnecessary monthly charges, ensure you make at least one transaction within each 12-month cycle and maintain the minimum balance.
💬 Speak with your privilege concierge: Many banks now communicate closely with the Thailand Privilege Member Services Team and take advantage of this support to facilitate your application.
For further assistance or clarification, please contact your Member Contact Center. Preparing properly can turn an otherwise tedious banking process into a smooth and efficient experience.