Bank accounts, transfers and proof of funds

Opening an account

Thai banks generally ask for a passport, your visa or entry stamp, proof of address and, often, evidence of a work permit or long-stay basis. Requirements vary between branches, and some ask for a minimum deposit or a reference letter. Accounts are usually opened in baht, with foreign currency accounts available at some banks.

Transfers that stand up later

• Transfer in the source currency rather than baht where you need proof that funds came from overseas, then let the receiving bank convert. This is central to a condominium purchase and, for some residents, to bringing in funds for living costs.
• Keep the credit advice or transfer confirmation. When a bank or the land office asks how money arrived, this is the document that answers the question.
• Compare rates and fees across banks and transfer services: the spread and the flat fee together decide what you actually receive.
• Label transfers clearly and avoid splitting a payment across several senders unless you have to, since the paper trail becomes harder to explain.

Everyday money

• PromptPay makes transfers between Thai accounts quick, including to tradespeople and small services.
• QR payments are accepted almost everywhere, including markets and taxis.
• Foreign cards often carry transaction fees and a poorer rate. A local account usually costs less for daily life.
• If you keep an account abroad, tell that bank you are resident here so routine payments are not blocked.