Banking system of Thailand. Banking system of Thailand Commercial banks of Thailand exchange rates

Banking system in Thailand

Thai banks are regulated by the Bank of Thailand (BOT) in accordance with the provisions of the Commercial Banking Law. The Ministry of Finance controls the Bank of Thailand.
The BOT's responsibilities include managing banking institutions, issuing currency on behalf of the government, overseeing monetary policy, and conducting business with multinational monetary institutions.
There are 13 Thai commercial banks and 18 branches of foreign banks. Thai commercial banks offer a full range of banking services, while foreign banks mainly provide interbank transaction services such as commercial lending, documentary transactions, monetary asset management and investment banking services.

Exchange control rules

The Law “On Currency Control” regulates all issues related to foreign currency.
The Bank of Thailand is responsible for foreign exchange management. Transactions with foreign currency are carried out through authorized banks. Banks licensed by BIBF (Bangkok International Banking Facility, International Banking Institutions of Bangkok).

Import and export of foreign capital

There are no restrictions on the entry of foreign currency into Thailand. Any person receiving foreign currency is obliged to hand it over to an authorized bank or deposit it into a foreign currency account within 7 days from the date of receipt.
The rule does not apply to foreigners staying in Thailand for less than three months, foreign embassies and international agencies.
A foreign currency account can be used for lending to onshore and offshore companies with offshore funds and conducting transactions with foreign currency.
Storage accounts Money, received from abroad, are opened in authorized banks in Thailand.
The depositor must provide evidence obliging him to pay persons abroad in foreign currency to authorized banks within three months from the date of opening the account. It is impossible to deposit an amount exceeding that specified in the provided obligation.
The foreign currency deposit should not exceed $2,000 per day.
Repatriation of investment funds and reimbursement of foreign loans in foreign currency can be carried out without restrictions on the presentation of supporting evidence. It is also permitted to transfer for storage in foreign currency accounts non-productive profits due to non-residents, such as remuneration for services, interest, dividends, income and fees for providing supporting evidence to an authorized bank.

Account in foreign currency

Companies incorporated under Thai law may have foreign currency accounts under certain conditions:
Withdrawals from the account are permitted for payments against any external obligations to provide supporting evidence or for exchange into baht at authorized banks. The total daily outstanding balance must not exceed $5,000,000 for a company and $500,000 for an individual.

Export income

The baht must be received in Thailand immediately after payment is made, no later than 120 days from the date of export. Income must be deposited in an authorized bank or deposited into a foreign currency account in an authorized bank in Thailand within 7 days of receipt.

Import and export of local currency

There are no restrictions on bringing Thai currency into the country. Individuals leaving the country are not allowed to export more than 50,000 baht per person, with the exception of export to countries bordering Thailand (Burma, Laos, Cambodia, Malaysia and Vietnam) - in this case, up to 500,000 baht can be exported.

Recently there was a rumor that starting from 2015, only holders of a work permit or retirement visa will be able to open an account in Thailand (in addition to the Thais themselves). A correspondent for the portal "Zagranitsa" visited the branches of the most popular banks to find out whether this is really so and where it is better for a foreigner to turn

If you have been living in Thailand for several months, then the question of opening an account in a local bank becomes relevant. We have selected the most popular banks in the Kingdom and studied them inside and out!

Bangkok Bank

Previously, an international passport or national driver's license was enough to open an account with Bangkok Bank. Now the managers of all the branches we visited asked to present a passport and Residence Certificate (it can be obtained at the immigration office in 5 minutes). But only in this bank can holders of a 30-day visa open an account.

The minimum deposit to open a savings account is 500 baht. At the same time, you will be given a Savings Book - an analogue of a savings book, a very reliable way to store funds. There are no fees for opening and servicing an account; the balance is charged about 1% per annum. Any transactions with the account are only possible with a personal visit to the bank with a passport.

International SWIFT transfers are possible using the savings account details, but crediting will take place in baht at the bank’s internal rate. Unlike other Thai banks, you can get a debit card with a VISA B1st Smart chip from Bangkok Bank. The cost of its maintenance is 300 baht for the first year and 200 baht for each subsequent year.

By submitting an application at the branch, you can connect to free Internet banking.

Bank head offices offer individuals accounts in foreign currency (FCD) - dollars, euros, yuan, etc. (total 14). The minimum deposit is $1000 (or an equivalent amount in another currency). Please check the amount of service fees on site.

Bangkok Bank branches in Pattaya are located in, and. You can find your nearest branch in Phuket.

Kasikorn Bank

Lifehack from Zagranitsa

To open a savings account at Kasikorn Bank with a stated deposit of 500 baht (rather than 12,500), open the bank's website on your tablet, then contact the excellent English-speaking customer service team and give the phone to the manager who serves you. This technique also works in other cases of arbitrariness of bank employees.

Krungthai Bank

Transferring even a large sum to a bank account in Thailand is easy (unless the bank branch asks you to indicate the purpose of the money), but to withdraw funds from a Thai bank account to another country, you may need to confirm the legality of your capital.

Krungsri (Bank of Ayudhaya)

To open an account, you will need a foreign passport, proof of residence (Residence Certificate, Tabien Baan (house register) or rental contract) and, optionally, a work permit, student visa or any of the annual visas. The minimum deposit is 10,000 baht, the VISA Electron card costs 300 baht per issue and 200 baht annually.

People who live or vacation in Pattaya may find it useful to know which banks in Pattaya allow you to withdraw
maximum amount of money. How much money can you withdraw per day without paying a commission?
Where can I do this safely and securely?

Having visited several banks, we came to the conclusion that it is most profitable to withdraw a large sum at Siam Commercial Bank or
in Krungsri.
These banks are conveniently located in popular areas of Pattaya and can be found in any area. There is no point in giving addresses, they are literally everywhere.
Siam Commercial - purple, Krungsri - yellow bank.

What is the maximum amount you can withdraw from a Pattaya bank per day?

At Siam Commercial Bank – 250,000 baht (information as of February 2015)
In Krungsri 200,000 baht.

Krungsri – yellow bank

You need to have a passport with you (required!!! They won’t give you one without a passport!) You need to indicate your residential address.

How to withdraw money in Pattaya safely and profitably?

Find a branch of Siam Commercial Bank or Krungsri, at the entrance they will ask you what question you are asking for?
Answer – withdraw cash (withdraw cash)
You are directed to an operator who will perform the operation within 5 minutes.

In this case, there is no fee for withdrawal! Now the commission for withdrawals from ATMs in Pattaya is 180 baht. Which is also not pleasant.

In any case, even if you don’t need to withdraw the maximum amount, but just “for living”, I advise you to withdraw money
in Pattaya at bank branches, not at an ATM.
Skimmers are very common (adapters on ATMs, with the help of which card information and passwords are stolen)
So it’s safer to go to a bank branch and withdraw cash for sure.
Moreover, you do not need to pay a commission for each withdrawal.

The Krungsri ATM, for example, dispenses a maximum of 30,000 baht at a time.

The minimum amount to withdraw money at the Pattaya branch is 2,000 baht.

How to save money on a hotel or apartment on vacation?

I'm looking on the Rumguru website. It contains absolutely all discounts on hotels and apartments from 30 booking systems, including booking. I often find very profitable options, I can save from 30 to 80%

How to save on insurance?

Insurance abroad is required. Any appointment is very expensive and the only way not to pay out of pocket is to choose an insurance policy in advance. We have been registering on the website for many years, which give the best prices insurance and selection along with registration takes only a couple of minutes.

Baht exchange rateupdated every hour.

On the website you can find out the latest information every day about the exchange rate of the baht (THB) in Thai banks today, choose best buying rate for baht or best baht selling rate. The portal provides monitoring of exchange rates of all major banks in Thailand with the latest information on the US dollar (USD) and euro (EUR) exchange rates, which are currently the most popular currencies in the world.

Banks offer the service of buying and selling baht in accordance with their individual rates. Using the site, you will always find out which bank you can use to make the most profitable currency exchange.

The table of exchange rates shows dollar (USD) and euro (EUR) to baht (THB) exchange rates in denominations of 50-100 dollars and 50-100 euros.

Kingdom of Thailand Lately has gained unprecedented popularity among Russian tourists. And this is easily explained by the country’s hospitality and favorable climate for recreation, many attractions and a very attractive infrastructure of resort cities.

Due to the fact that the majority of Thai shops, hotels and other enterprises accept payment only national currency, for many Russian tourists and residents of the kingdom the question is relevant: Where is the best place to exchange rubles (RUB) for baht (THB) or dollars (USD) to baht (THB) And what is the baht exchange rate in banks in Thailand today?
Exchange rubles (RUB) to baht (THB) or dollars (USD) to baht (THB) You can either at the airport or at any bank or exchange office in Thailand located in its cities and resort areas. However, given the fact that foreign exchange prices at the airport exchange offices are slightly higher than in the city, you should not immediately change all the cash on hand immediately after arrival at the first exchange office you come across.

Those who prefer to use plastic cards should remember that in Thailand, transactions with them are not very profitable because:

Before using a card in another country, you must notify your bank about this;
- most ATMs dispense no more than 10,000 baht;
- the commission when withdrawing or paying by card is very significant - up to 180 baht per transaction, plus a conversion fee and interest on cash withdrawals.

Therefore, it is better to cash out and change dollars (USD) to baht (THB) or euro (EUR) to baht (THB) one operation and at an ATM with the most favorable conditions and the maximum amount of a one-time issue.

There are a sufficient number of exchange offices and banks, where possible change rubles (RUB) to baht (THB) or dollars (USD) to baht (THB). Baht exchange rate in Thai banks although not significantly, it still differs (on average, the difference in prices of exchangers in Thailand varies within 10%.), therefore, in order to save money, it is more prudent to compare before exchanging baht rates for today and find exchangers with the most advantageous offer. To do this, it is not at all necessary to visit each exchange office yourself; it is enough to use the services of the official website of Thailand. Everyone here Russian tourist or a resident of Thailand will find a huge amount useful information, including being able to compare prices in Thai exchange offices and find out where is the best place to exchange dollars (USD) or euros (EUR) for baht (THB), always get up to date baht exchange rate today.

Data about baht exchange rate on the portal are updated every hour, which is very important due to constant changes in the global stock market. Here you will find the most up-to-date and reliable information about exchange rate for today's baht and prices in exchange offices, which is necessary for every Russian who decides to visit this wonderful country.

– congratulations! But you should immediately start thinking about what bank cards What's more profitable to take on a trip - pay cash for purchases or by card? Almost all stores accept cards for payment; upon arrival, you can withdraw Thai baht from an international ruble card. To bring currency to Thailand, you first need to buy it at a commercial bank in your hometown and lose 5% for conversion. In Thailand, you need to change the currency to Thai baht and lose another 5%. It turns out to be about 10%. The losses are big. If you use a ruble international VISA card to receive money, the conversion will go through the dollar, at its exchange rate, and then into Thai baht. It's more economical. For Thailand it is better to have a VISA card. For safety reasons the best option keep your money under your mattress, or better yet, on a card.

Thai banks cooperating with Russia: Bangkok Bank, Kasikorn Bank, Kulgri Bank (it issues a record 30 thousand per day), Siam Bank. There are many ATMs. To get more than 30 thousand Baht, you need to go to Bangkok Bank with your passport and card, where the operator will help you get up to one million Baht. It’s better not to go to other banks for that kind of money.

If the purchase costs less than 500 baht, then some stores refuse to accept cards. Some stores, although they warn you in advance, charge a considerable commission - 3%. Abroad, it is better to use VISA or MASTERCARD cards. MAESTRO and CIRRUS cards cannot always provide you with some services - rental, hotel room, insurance, and so on. It’s better to take two bank cards with you in case you lose one card or the bank blocks it. The choice is yours, but using a card or cash withdrawn from the card seems to be a better option.

Whatever is on your card, the ATM will give out baht. Take them with you and rush to the store if it doesn’t accept cards. I didn’t change the bank, it doesn’t issue money. The money changer is a payment system (for example, VISA and a Russian bank), so you can safely receive money from any ATM. But if you still receive an offer from an ATM to exchange money, you need to run - the rate will be less favorable than that of your VISA. But if you are in a puddle and agree, you will lose your money, since the request to your VISA is not in bahts, but in dollars. In order for the money to remain with you, the request must be in baht. If you need any currency, look for an exchanger. That's not for long. They stand alone in bank branches. ATMs also want to have their own and charge a commission of 180-200 baht. It is inevitable and independent of citizenship and amount. If you don’t want to pay extra, go to the bank. ATMs will give out no more than 20-30 thousand baht. In order not to pay a commission each time, withdraw a lot at once, otherwise you will part with 200 baht each time. Don’t go to a Thai bank in T-shirts and slippers - they won’t understand. The main thing is don’t forget your passport, they won’t give you anything without it. It is useless to use scanty knowledge in English and wave the card. Forward! To the ATM!

The bank almost always takes a scan of your card, and they are not even interested in your PIN code. Our paranoids are concerned, although the explanation lies in the map settings. The Thais do not always serve us with joy, they lie that there is no machine for the card, they act like they don’t understand, and they rush us out, saying, go to another bank. Siam Bank and Bangkok Bank love us better and in 90% of cases there are no problems.

If ATMs are workaholics and work around the clock, then banks work from 8.30 to 15.30. Weekends – Saturday and Sunday. Banks do not charge commissions, at least not at Bangkok Bank and Siam Bank. There are many branches of these banks, so use them. It is the Russian bank that is guilty of commission in tariffs. In a Thai bank you may be sent to an ATM for a small amount, but not in Siam Bank - there are no restrictions on the amount. If you decide to live in Thailand longer, you need to get a local bank card. Only Kasikorn Bank agrees to this issuance of “tourist visa” cards, and not in all branches. You can transfer money from Russia to a Thai card and store it in baht, forgetting about exchange rates at least for a while. With such a card you can withdraw Webmoney through an exchanger with an excellent rate. It is only more profitable from a private money changer if you exchange your Webmoney for his baht. If you need to transfer a lot of money from Russia to Thailand, then you can’t carry it in a bag. This is where a Thai bank account comes in handy. You need to think carefully about a Russian bank, for example, AlfaBank, so that they charge small commissions and the rate is good. When a lot of money is transferred, the losses are visible to the naked eye. Do not forget to notify the tax commission about the account abroad, otherwise the transfer will not take place - the bank will not agree. It’s better to transfer money to your beloved mother-in-law or wife to a foreign account.

Have a fun holiday and enjoy your interactions with the Thai banking system!