Banking in Thailand as a Brit: opening an account, keeping your UK one and moving money

A Thai bank account makes life in Bangkok far easier: your rent, your phone, QR payments at the noodle stall and, for retirees, the visa deposit. Getting one depends mostly on your visa, and the branch you walk into.

The short version

• You'll usually need a non-immigrant visa (work, retirement, marriage, study or LTR). Kasikornbank, for one, says it won't open accounts for tourist visa, visa exemption or DTV holders [3].
• Take your passport, proof of address in Thailand, and something showing why you're here: a work permit, a school letter or proof of a pension. Requirements differ from bank to bank, and branch to branch [2][3].
• Thai baht deposits are protected up to THB 1 million (about £22,200) per person per bank by the Deposit Protection Agency [4].
• Keep a UK current account for UK income, direct debits and your credit file. Tell your bank you're moving; some restrict accounts for customers abroad.
• Your UK State Pension can be paid straight into a Thai account, converted with a 0.39% charge [5].

Choosing a Thai bank

Bangkok has branches on every other corner, in shopping centres and at BTS stations. The big commercial banks are the obvious choice for newcomers: Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank (SCB), Krungthai and Krungsri. All have English-language apps of varying polish.

Sources: Thailand.go.th (2023) and The Thaiger (September 2026) [2][3].

Pick a bank with a branch near your flat or office: you'll be back for passport updates, visa letters and the occasional card problem. For a retirement visa, choose one that issues the letter immigration wants confirming your balance.

Opening an account: what to take

Each bank sets its own rules, and in practice the branch manager's view counts [2]. Expect to need:

1. Your passport with your non-immigrant visa and latest entry stamp.
2. Proof of your Thai address. A lease, a house registration copy if you live in your partner's home, or a certificate of residence from immigration. The certificate needs your landlord's TM30 report to be on file first [3]. See 90-day reporting, TM30 and re-entry permits.
3. Your reason for being here. A work permit and a letter from your employer for workers; an enrolment letter for students; for retirees, documents such as a pension statement or a letter from the British Embassy or your overseas bank. Thailand.go.th lists embassy certificates, pension documents and references from a bank officer or existing customer as supporting documents some banks accept [2].
4. A Thai mobile number. Banks use it for one-time passwords and mobile banking, so get a Thai SIM in your own name first [3].
5. A small opening deposit. Some banks set a minimum of a few hundred baht [3].

If one branch says no, try another branch of the same bank, ideally one in an area with plenty of foreign residents such as Sukhumvit or Silom. That isn't a trick; it's how the system works.

Living with a Thai account

Once you're set up, a Thai account is very convenient. PromptPay, the national instant payments system, lets you pay by QR code almost everywhere, from taxis to market stalls, and transfer to friends using a mobile number. Thai banks have tightened security against fraud in recent years, so don't be surprised if your app asks for face verification for larger transfers or new devices, and don't lend your account to anyone: banks and police treat "mule" accounts seriously.

How safe is your money?

The Deposit Protection Agency (DPA) protects baht deposits at Thai commercial banks up to THB 1 million per depositor per institution, adding together all your accounts at that bank. If a bank's licence is revoked, the DPA pays protected deposits within 30 days; anything above the limit is repaid from the bank's liquidation over time [4]. Cover is automatic and free, but it applies to baht deposits [4].

That's a lower ceiling than you're used to with the UK's FSCS, so if you hold more than THB 1 million, think about splitting it between banks.

Keeping your UK account

Don't close your UK current account. You'll want it for:

• UK income: rent from a let property, workplace pensions, the State Pension if you keep it paid in the UK.
• Direct debits: your phone contract, subscriptions, insurance, HMRC payments.
• Your credit file: handy if you ever come back. See your UK credit file while you're away.
• Thai tax planning: keeping pre-2024 savings separate from newer income makes it easier to show the Revenue Department what's taxable when you bring money in. See Thai tax on foreign income.

Tell your bank you're moving. Some UK banks restrict or close accounts for customers living in certain countries, and it's better to know before you go. Keep a UK address for correspondence (a relative's is common), a UK mobile number that can receive texts abroad for security codes, and update HMRC. Our guides to keeping a UK bank account and a UK mobile number and address go into detail.

Moving money from the UK

You have three main options:

1. A bank-to-bank SWIFT transfer from your UK bank. Simple, but you'll often pay a sending fee, a receiving fee in Thailand and a margin on the exchange rate.
2. An online money transfer service regulated by the FCA, which usually offers a rate closer to the mid-market rate. Check the firm is on the FCA register before you use it.
3. Your pension paid direct. The DWP can pay your State Pension into a Thai account, converting it on the day with a 0.39% charge [5]. Some workplace schemes also pay overseas; ask yours.

Thai foreign exchange is regulated by the Bank of Thailand, and transactions must go through licensed institutions [6]. For large transfers, such as money to buy a condo, your Thai bank can issue a foreign exchange transaction form showing the money came from abroad, which the Land Office asks for when a foreigner buys a condominium. Ask for it at the time; it's a faff to get later. See owning property in Thailand.

Remember that what you bring into Thailand may be taxable if you're resident. Transfer what you need, from the right account, and keep records.

The FCDO's Living in Thailand guide is a good starting point for the wider move [1], and for day-to-day tips on which branches are friendliest, ask in our community group for Brits in Thailand.

Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = THB 45.1092).

Sources

1. GOV.UK (FCDO): Living in Thailand (updated 11 December 2025)
2. Thailand.go.th: What documents do foreigners need to open a bank account in Thailand? (January 2023)
3. The Thaiger: Opening a Thai bank account as a foreigner (updated 10 September 2026)
4. Deposit Protection Agency: Deposit protection scheme (updated 1 April 2024; scheme report for July 2026 on the DPA home page)
5. GOV.UK: State Pension if you retire abroad
6. Bank of Thailand: Foreign exchange regulations

Keep reading

• Thai taxes for Brits: the UK link and your State Pension
• The frozen UK State Pension in Thailand
• Sending money between the UK and abroad
• Keeping a UK bank account when you live abroad