Why you need Bank Account in Thailand?

If you’re a foreigner living in Thailand (even short-term), a Thai bank account makes a bunch of everyday things simpler, cheaper, and sometimes required. Here are the main reasons:

1) Get paid and move money locally

• Salary payments from Thai employers usually require a Thai account.

• If you work with Thai clients, they’ll often only pay by local transfer (PromptPay/bank transfer).

2) Pay rent, bills, and deposits easily

• Many landlords and condos prefer (or require) Thai bank transfer for rent and security deposits.

• Utilities, internet, and mobile plans are easier to pay via bank app/auto-pay than cash.

3) Everyday cashless payments (PromptPay + QR)

• Thailand is very QR-payment heavy. A Thai account often lets you use:

  • PromptPay transfers (instant, low-fee)

  • Thai QR payments at markets, cafes, gyms, taxis, etc.

• It reduces reliance on cash and card fees.

4) Avoid expensive foreign card fees and ATM fees

• Using overseas cards can mean:

  • FX markups

  • international transaction fees

  • ATM withdrawal fees (often both Thai ATM fee + your home bank fee)

• A local account helps you withdraw/pay locally with fewer fees.

5) Easier online shopping and subscriptions

• Many Thai websites and services work best with Thai bank transfers or local payment rails.

Opening Bank Account with FITFAC 

In the past, FITFAC was able to help applicants holding a DTV Visa open a Thai bank account by providing a letter of acceptance from FITFAC. As a reputable Muay Thai school, the bank trusted our credibility and our students.

However, since online scams have reached a peak and many criminals have used bank accounts opened by foreign tourists to run scam call operations, the Thai government has tightened regulations and suspended the opening of new bank accounts for tourists nationwide.

Currently, if you are holding a tourist visa (DTV Visa or any other short-term tourist visa), opening a bank account in Thailand is not possible.