Banks in Thailand

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The banks in Thailand, open an account and withdrawals

Thailand has 35 licensed Banks with combined total asset of US$ 315 billion and 17 Local Thai Commercial and Retail Banks. The country also has foreign banks; 5 European banks, 7 Asian banks and 4 North American banks.

The Bank of Thailand (ธนาคารแห่งประเทศไทย) is the central bank of Thailand.

Thai banks are pretty good and staff are very efficient, but they are very strict. The best banks in Thailand are Bangkok Bank, Siam Commercial Bank and Kasikorn Bank. TMB Bank (Thai Military Bank) is also a good bank, it is owned by ING, DBS, Thai Ministry of Finance and the military.

Foreigners can open a bank account in Thailand, but it depends on what type of visa you are on. Bangkok Bank will let you open an account on tourist visa without online banking access, while Siam Commercial Bank won’t let you open an account if you’re on tourist visa. Open an account at Kasikorn Bank usually requires a work visa and work permit, however some branches will open an account for a foreigner without a work permit.

Thailand ATM Fees

Keep in mind that as tourist, debit and credit card withdrawals from Thai ATMs incur a 150 or 180 baht fee in most banks. If you want to avoid this fee, you can use Citibank ATMs. Citibank doesn’t charge the 150/180 baht ATM fee. Citibank has 3 branches in Bangkok: Asoke branch located in Soi Sukhumvit 21, Citibank CentralWorld and Citibank Silom.

Thailand operates provincial banking. If you’re using a Thai credit card, ATM withdrawals made in provinces outside of your branch may incur a 10 baht ATM fee.

List of Commercial Banks in Thailand

Foreign Banks with a Full Branch (one location) in Bangkok

  • The Bank of Tokyo-Mitsubishi (Japan)
  • Sumitomo Mitsui (Japan)
  • Mizuho (Japan)
  • Citibank (US)
  • HSBC

Foreign Banks (European)

  • ABN-AMRO Bank N.V.
  • BNP Paribas
  • Calyon Corporate & Investment Bank
  • Deutsche Bank
  • HSBC

Foreign Banks (Asian)

  • Bank of China Ltd.
  • Indian Overseas Bank
  • Oversea Chinese Banking Corp. Ltd.
  • RHB Bank Berhad
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • Sumitomo Mitsui Banking Corp.
  • Mizuho Corporate Bank, Ltd.

Foreign Banks (North American)

  • Citibank Thailand
  • JP Morgan Chase
  • Bank of America N.A.