Best Banks for Expats in Thailand

Reviewed 2026-10-31. General independent information; check current official immigration, financial and medical guidance before acting.

Expert take — Cost of Asia editorial team Thailand's main banks charge almost the same fee to receive money from abroad, so incoming fees are a poor way to choose: Bangkok Bank, Kasikornbank, Krungsri and the Government Savings Bank all publish 0.25% of the amount, with a 200 THB minimum and a 500 THB maximum. What does differ is whether a branch will open an account on your visa, and how much a transfer service can send to that account at once. Wise, for example, lists 2,000,000 THB per transfer to Bangkok Bank and Kasikornbank but 500,000 THB to most other banks, so choose your bank on those two points first.

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You need a Thai bank account sooner than you might think. Landlords expect transfers, the retirement extension requires a Thai bank deposit, and Thai apps make everyday payments easy. This guide is for foreigners staying long enough to need one: retirees, remote workers, employees with a work permit and families.

The catch is that account opening is decided branch by branch. Expatica, which covers expat banking in Thailand, notes that each bank interprets Bank of Thailand policy differently, and that answers can vary between branches of the same bank. So the "best" bank is often the one whose local branch will open your account on your visa, then the one that fits how money reaches you.

At a glance

How we chose

• Published fees for receiving and sending international transfers, taken from each bank's own fee schedule.
• Receiving limits: how much a transfer service can send to the bank in one go.
• Services for foreigners: overseas branches, foreign currency deposit (FCD) accounts and documented procedures such as condo purchases.
• Opening requirements by visa type, based on what we could verify.

Sources: bank fee schedules and FAQ pages, Wise's Thailand transfer page, Expatica's Thailand banking guides, and the Thai government portal. We did not rank on interest rates, which change often. Checked on 31 October 2026.

What branches ask for, by visa type

Expatica lists the usual documents as your passport, a certificate of residence, proof of address such as a lease, and a minimum deposit of roughly 1,000 to 3,000 THB. Some banks also ask for an embassy reference letter.

1. Bangkok Bank — best for receiving money from abroad

Who it suits

People paid or funded from the US or UK, and condo buyers. Bangkok Bank's New York branch accepts International ACH Transaction (IAT) payments from US banks, with published fees starting at USD 5 plus 100 THB for USD 100.01 to 2,000. Its London branch accepts UK Faster Payments or BACS in baht or pounds. For SWIFT transfers, senders use the code BKKBTHBK, since Thai banks do not use IBANs. Wise lists a cap of 2,000,000 THB per transfer to Bangkok Bank.

Trade-offs

Incoming SWIFT transfers cost 0.25% (200 to 500 THB), and intermediary banks can add their own fee. Foreign currency is converted at the bank's telegraphic transfer (TT) buying rate, not the mid-market rate.

Check before you commit

If you are buying a condo, Bangkok Bank says to state the purpose as "To purchase a condominium," then request the land office documents from your branch once the money arrives. Ask which branch issues them and whether it will do so for a deposit that arrives through a transfer service.

2. Kasikornbank — best for large incoming transfers and foreign currency accounts

Who it suits

People who receive large sums through a transfer app, and anyone who wants to hold foreign currency in Thailand. Wise lists a cap of 2,000,000 THB per transfer to Kasikornbank, the same as Bangkok Bank. Kasikornbank's fee schedule shows no fee for electronic transfers into an FCD account.

Trade-offs

Taking money out of an FCD account costs 0.25% for US dollars and yuan, and 0.50% for pounds, euros and several other currencies, with a 1,000 THB minimum per withdrawal. Incoming SWIFT transfers cost 0.25% (200 to 500 THB). The schedule we found is dated April 2023.

Check before you commit

Ask for the current fee schedule, and check whether you need an FCD account at all. If you convert to baht on arrival, a normal savings account is simpler.

3. Siam Commercial Bank (SCB) — best for sending money out of Thailand

Who it suits

People who pay bills, mortgages or family abroad. Expatica reports that SCB offers same-business-day transfers in euros, pounds, Singapore dollars and US dollars using blockchain technology, and that its app can pay 12 countries in those four currencies. Wise lists 1,499,999 THB per transfer to SCB.

Trade-offs

Other destinations need a paper application, according to Expatica. It also reports that online international transfers at Thai banks are often capped at 50,000 THB per transfer, and that moving baht out of the country may require a work permit.

Check before you commit

Ask what the branch needs from you to send money abroad on your visa, and the per-transfer and daily limits in the app.

4. Krungsri — best for clear outbound fees in the app

Who it suits

People who want to know the cost of a SWIFT transfer before they press send. Krungsri's schedule effective 1 July 2026 lists 350 THB for an outbound transfer made in its app or online banking, versus 500 THB at the counter. If you want the recipient to get the full amount, it adds 1,200 THB for pounds or euros, or 800 THB for US dollars. Transfers to Singapore through its international PromptPay link cost 150 THB.

Trade-offs

Sending from a foreign currency account, or sending baht abroad, adds a 0.125% commission with a 1,000 THB minimum. Incoming SWIFT transfers cost 0.25% (200 to 500 THB), like its competitors.

Check before you commit

Confirm that the app's international transfer feature is open to foreign customers on your visa, and check how the receiving bank's own fees will be handled.

5. Wise — best complement, not a replacement

Who it suits

People who earn or save in another currency and want to convert at the mid-market rate before the money reaches their Thai account. Wise Payments (Thailand) Ltd is licensed by the Bank of Thailand for e-money, electronic fund transfer and money transfer agent services, according to Wise.

Trade-offs

Wise is not a Thai bank. You still need a Thai bank account for local transfers and for the retirement extension deposit, which must sit in a Thai commercial bank.

Check before you commit

Pick a Thai bank whose Wise cap matches the sums you move, and ask how your Wise balance is protected compared with a bank deposit.

Other banks worth knowing

UOB took over Citi's consumer business in Thailand after Citi announced its exit in 2022, according to Expatica. Krungthai and TMBThanachart (ttb) also have English-language pages and apps. The state-owned Government Savings Bank (GSB) accepts incoming transfers in five currencies (US dollars, euros, pounds, yen and yuan) at 0.25% (200 to 500 THB), plus a small surcharge for accounts held upcountry.

What to check before you decide

• Call or visit the branch first and ask exactly what it needs for your visa type.
• Get a residence certificate from immigration or your embassy if the branch asks for proof of address.
• Set up the app while you are in Thailand. Expatica says you may need a Thai phone number, and some apps check your location.
• Plan for face verification. Expatica reports that mobile transfers above 50,000 THB in one go, or 200,000 THB in a day, require a biometric scan.
• Spread large savings. Thai baht deposits are protected up to 1 million THB per person per bank, according to Expatica.
• Time your retirement deposit. The Thai government portal says 800,000 THB must sit in a Thai bank two months before you apply and three months after approval, and never drop below 400,000 THB.

FAQ

Can a foreigner open a bank account in Thailand on a tourist visa?

Sometimes. Expatica says some banks open non-resident accounts on a tourist visa, but transfers to and from them are treated as international. Most long-stay expats open an account once they hold a longer visa, a work permit or a retirement extension.

Which Thai bank is best for receiving money from abroad?

Incoming fees are nearly identical at Bangkok Bank, Kasikornbank, Krungsri and GSB. Bangkok Bank stands out for its New York and London routes, and both Bangkok Bank and Kasikornbank accept the highest per-transfer amount from Wise.

Can I open a Thai bank account online from abroad?

Generally not. Expatica notes that many services still need a branch visit, and that app-based account opening is usually for existing customers.

Do I need a Thai bank account for a retirement visa?

For the annual extension in Thailand, yes, if you qualify on savings: the government portal requires a certificate of deposit from a Thai bank. If you qualify on income, ask your immigration office what it accepts.

Are my savings in a Thai bank protected?

Thai baht deposits are covered up to 1 million THB per person per bank under Thailand's deposit protection scheme, according to Expatica. Check the Deposit Protection Agency's current rules for foreign currency accounts.

Related guides

• Cost of living in Thailand
• Money services
• Best ways to send money to Thailand
• Best multi-currency accounts
• Thailand retirement visa
• Budget calculator

Sources

• Bangkok Bank — FAQs on transferring funds into Thailand — SWIFT code, no IBAN, incoming fee, TT buying rate, condo procedure
• Bangkok Bank — Transfers from the US via the New York branch — IAT fee table
• Bangkok Bank — Transfers from the UK via the London branch — Faster Payments and BACS route
• Kasikornbank — FCD and remittance fees (effective 24 April 2023) — inward fee, FCD deposit and withdrawal fees
• Krungsri — International payment fees (effective 1 July 2026) — inward and outward fees, OUR charges, PromptPay to Singapore
• Government Savings Bank — Foreign remittance service — inward fee, accepted currencies
• Wise — Send money to Thailand from the UK — per-bank THB transfer limits
• Wise — How Wise is regulated in each country — Wise Payments (Thailand) Ltd licences
• Expatica — How to open a bank account in Thailand (10 June 2025) — documents by status, deposits, deposit protection, branch variation
• Expatica — Banking in Thailand (6 March 2025) — UOB and Citi, biometric thresholds, embassy letters
• Expatica — Mobile banking in Thailand (28 May 2025) — Thai phone number, geo-location, facial recognition
• Expatica — International money transfers in Thailand (28 May 2025) — SCB outbound services, online transfer caps
• Thai Government portal — Retirement extension requirements — Thai bank deposit certificate, 800,000 THB timing