Transcript of the above video:

As the title of this video suggests, we are discussing Bank Accounts in Thailand. I thought of making this video after reading a recent comment on our channel, quoting directly: "Retirement Visa online? How do I get a get Thai Bank Account and leasing a condo. I am still in the United States?" So the question posed is can one set up a Thai Bank Account before they come to Thailand.

The short answer to that is that is going to be a tall order setting up a Thai Bank Account. Generally speaking and I am sure there is probably a protocol again this is all going to be based on internal Bank rules here in Thailand as well as Bank of Thailand, the Central Bank rules that then the Commercial Banks here have to abide by, but long story short unless there are some really anomalous circumstances and unless you are like a billionaire and you are in the banking sector or something like this and people in that sector know you super-duper well and I am talking people that are like the Managing Director or the CEO of a major Commercial Bank or something, the average person, yeah you are going to have to be here in person, in Thailand to go ahead and set up a bank account. There's a number of KYC so-called Know Your Customer protocols that go into setting up a Bank Account here in Thailand including but not limited to showing one's own face and relevant documentation, specifically identification documentation, in order to get a Bank Account. 

So the thing to take away from this video is as a practical matter No, it is not going to be possible to set up a Thai Bank Account from abroad; you are going to need to come here and set it up in person. That then sort of brings up the catch-22 issue associated with Thai Retirement Visas especially wherein the applicant needs to show money in the bank in order to get an extension of retirement status but they can't get a bank account without a long-term visa in Thailand; you get this kind of catch-22 thing. We oftentimes assist clients not only with matters pertaining to Thai Retirement Visas but also with Bank Account setup. 

So those who are looking to possibly come to Thailand especially to retire or anyone looking to come to Thailand and set up a Bank Account, it is probably not a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.