Money is one of those things that's simple until it isn't. Day-to-day spending is easy here: cash and PromptPay QR codes are everywhere. The friction is in two places, opening a local bank account, and getting larger sums in and out without losing a chunk to fees. Here's how both actually work right now.
Opening an account got harder
This is the big change to know about. A couple of years ago you could open a Thai account on a tourist visa. Not anymore. Since 2024 the banks have tightened up, and in early 2026 Bangkok Bank went further. In practice you now need a long-stay visa to open an account: a retirement visa, a Non-B with a work permit, an education (ED) visa, or the LTR. A tourist entry, and often the DTV, won't cut it.
If you're on the DTV and can't open an account, you're not stuck. Plenty of long-term DTV people run their lives on a foreign account plus Wise, and pay for most things by card or QR. It's less convenient, but it works.
Which bank
Kasikorn (everyone calls it K-Bank) and Krungthai are generally the most foreigner-friendly, especially if you've got an ED visa. Bangkok Bank used to be the default for foreigners but has become the strictest. If one branch says no, try another, a lot comes down to the individual staff member on the day, so a second attempt is worth it.
What you'll need
- Your passport.
- A long-stay visa (retirement, Non-B with a work permit, ED or LTR).
- Proof of a Thai address, usually a rental agreement, sometimes a residence certificate from immigration.
- A Thai phone number, so sort your SIM first.
- Around 500 to 1,000 THB for the opening deposit.
Be ready for a couple of extras. Many branches will ask you to buy a small accident insurance policy (roughly 200 to 400 THB a year) when you open the account. It's standard here, not a scam. The whole thing is done in person and takes an hour or two.
Getting money in and out
For sending money to yourself from abroad, or paying people overseas, Wise is the one I'd use. It almost always beats a bank wire on both the exchange rate and the fees, and it's quick. Old-school international bank transfers are slower and quietly expensive on the rate.
On cash: if you're withdrawing with a foreign card, Thai ATMs charge a fee of around 220 THB per withdrawal, on top of whatever your home bank charges. So take out larger amounts less often rather than small amounts daily. Once you've got a Thai account and PromptPay, life gets cheaper and easier, you can pay almost anyone by scanning a QR code.
Need a hand with banking or transfers?
Tell us what you're trying to sort, opening an account, moving money, or both, and we'll point you to the right option. Someone will be in touch within five working days.
This guide is general information, not financial advice. Bank rules change often and vary by branch, so confirm the current requirements before you act.
FAQ
Can I open a Thai bank account on a tourist visa or DTV?
Usually not. Since 2024 most banks have stopped opening accounts for tourist-visa holders, and as of early 2026 the DTV often isn't accepted either. You generally need a long-stay visa such as a retirement visa, a Non-B with a work permit, an ED visa or the LTR.
Which Thai bank is best for foreigners?
Kasikorn (K-Bank) and Krungthai are generally the most foreigner-friendly, particularly for ED visa holders. Bangkok Bank tightened its rules in early 2026. If one branch refuses you, it's worth trying another.
What's the cheapest way to move money to Thailand?
For most people, Wise beats a traditional bank wire on both the exchange rate and fees. Foreign-card ATM withdrawals in Thailand also carry a fee of around 220 THB each, so withdraw larger amounts less often.