How to open a Kasikorn Bank account for foreigners: Requirements, restrictions, and more

Kasikorn Bank¹ is a popular provider which offers a good range of accounts, cards, loans and other financial products. Kasikorn serves Thai citizens and residents, including extending the option to open an account and apply for certain cards to foreign long term residents in Thailand.

This guide looks at how to open an account with Kasikorn Bank and important considerations like the exchange rate Kasikorn Bank uses to send and receive international payments. We'll also introduce Wise, a handy companion to make your money go further with low, transparent fees.

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Can foreigners open a Kasikorn Bank account?

Yes. You can use Kasikorn Bank to open an account if you meet foreigner requirements which include having valid ID and a long term resident visa in Thailand. You can not open a Kasikorn Bank account as a foreigner if you have a tourist visa, visa on arrival, or are using a visa free entry scheme.

Kasikorn Bank markets a specific savings account² product to foreign residents in Thailand. However, once you have successfully opened this account and registered for online banking services you may find you can also get other products, such as a linked Kasikorn Bank debit card for foreigners, or a Kasikorn Bank credit card for foreigners if you’d prefer.

It's helpful to know that some account products such as the bank’s Foreign Currency Deposit (FCD) Accounts³ may only be available to foreigners living in Thailand if they’re permanent residents of Thailand, rather than holding a work permit or visa for example. Check the eligibility criteria for any account you may be interested in before you apply.

Types of Kasikorn Bank accounts for foreigners

Kasikorn Bank markets its savings account as a suitable product for foreigners in Thailand. This allows you to transact electronically or through an ATM machine - or to visit a branch to transact in person. Your account is interest earning, with interest payments made twice a year.

Other bank account types aren’t specifically marketed to foreign residents, but you may find that once you open a savings account and register for K PLUS - the bank’s mobile banking app - you can also apply for additional products if you would like to.

Kasikorn Bank account requirements for foreigners

The Kasikorn Bank account requirements for foreigners applying for a savings account include:

• Valid passport
• Valid non-immigrant visa allowing you to reside in Thailand
• Details of your reason for being in Thailand, such as a work permit

To apply for an account you’ll need to visit a Kasikorn Bank branch where the staff can help you complete your application, and verify your documents at the same time.

How to open a Kasikorn Bank account for foreigners?

As a foreign applicant looking for a Kasikorn savings account you are likely to need to visit a branch to open your account and complete the account verification process. However, once you have one account established with the bank you may find you’re able to apply for supplementary account products or cards, online through the K PLUS app.

Kasikorn Bank does not provide all account and fee information in English, which may mean that you need to take along a friend to help you translate the terms of any account you’re considering before you apply.

Do check your eligibility for different products and services before you take the time to apply, as some have additional eligibility requirements which may mean they’re only suited to permanent residents of Thailand.

Kasikorn Bank account restrictions for foreigners

The most important Kasikorn Bank account restriction for foreigners to know about is the requirement to have a long term visa, or permanent residency in Thailand to allow you to apply for most accounts.

While some non-resident foreigners might be able to open a Kasikorn non-resident FCD account⁴, most other products are only available to residents who can prove their right to reside in Thailand and who also hold a document like a work permit.

To check if you’re eligible to open a Kasikorn account based on your personal situation you’ll need to visit a bank branch in person.

Kasikorn Bank account exchange rates

You can view the live Kasikorn Bank account exchange rates online⁵ or in the bank’s mobile and online banking service. Bear in mind that rates may be listed as both ‘buy’ and ‘sell’, so you’ll need to make sure you select the correct rate for the type of transaction you’re making.

Before you use Kasikorn Bank for an international transfer or other overseas transaction it’s worth comparing the rate you’re offered against other providers and the mid-market exchange rate. The mid-market rate is the mid-point between the buy and sell rates available on global markets, and generally considered to be a good benchmark for a fair rate of exchange. Banks do not usually pass this rate on to customers, instead adding a markup or margin - a fee - into the rate they use for retail transactions. This can mean that your overseas transfers and transactions cost more than you expect.

Compare the rate you’re offered by Kasikorn to the mid-market rate to see if a markup has been used - and consider using a provider which passes on the mid-market rate directly instead, to see if you can get a better deal.

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Converting money to Thai baht and transferring it from abroad can get very expensive when using traditional banks and remittance services. On top of transaction fees, you might end up paying more due to hidden charges like conversion fees and exchange rate markups.

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Frequently asked questions

Can I open a Kasikorn Bank foreigner account online?

To open your first account with Kasikorn Bank you are likely to be required to visit a branch in person for verification and to talk through your needs. Beyond this you may find you’re able to open supplementary accounts or apply for cards, online or in the bank’s mobile app.

Is there a Kasikorn Bank credit card for foreigners?

While there is not a specific Kasikorn Bank credit card⁶ for foreigners there are credit card options which may suit foreign applicants, subject to meeting eligibility requirements. Cards typically require a minimum income level, and are subject to checks by the bank to ensure you can afford repayments.

Is there a Kasikorn Bank debit card for foreigners?

Whether or not you can get a Kasikorn Bank debit card⁷ for foreigners will depend on the account type you choose to open. If you open an account which can be linked to a debit card, you may be able to apply for a debit card directly with the bank and then link it to your THB account for easy spending.

Can foreigners take Kasikorn Bank loans?

To take a Kasikorn Bank loan⁸, foreigners will need to meet fixed eligibility requirements, which can include providing collateral as security. Kasikorn loan information is not provided in English online, so to learn more about the options available to you, including loan interest rates and terms, you may need to visit a branch in person.

Can foreigners receive international transfers with a Kasikorn Bank account?

You can use Kasikorn Bank for receiving an international transfer once you have an account set up. You’ll need to give the sender your full account information including the SWIFT code for Kasikorn, and you may find there’s a fee to pay when you receive the payment to your account. This can vary depending on the account type you hold.