A list of the top banks in Thailand

Planning a move to Thailand? Whether you're working, studying or simply sightseeing, you might find it useful to have a local bank account.

The first step to opening a bank account in Thailand is researching banks and available accounts. We’re here to help, with a handy guide to the top banks in Thailand. We’ll cover the top 10, along with some of their most popular everyday accounts.

But first, let’s take a look at how banking works in Thailand.

Banking in Thailand (an overview)

Thailand’s banking sector isn’t large, but it is well developed. The market is dominated by retail and commercial banks, many of which are home-grown. However, a few large foreign-owned banks such as CIMB and UOB have a significant presence in Thailand. All are overseen by the central bank, Bank of Thailand.

To open a bank account in Thailand, you’ll usually need the following:¹

• Your passport

• Certificate of residency

• Proof of address in Thailand

• Your work permit and a letter from your employer (if you’re working)

You might also need a minimum deposit to open your account, the amount of which varies between banks.

Thai bank accounts do sometimes come with fees. This may include an account maintenance fee, debit card fees, ATM charges and penalties for closing an account early.

And like in other countries, you’re likely to find that Thai banks have international transfer fees.

If you need to manage your money internationally and want to save money, check out Wise instead.

Learn more about Wise 🚀

Top 10 banks in Thailand

Now, let’s run through at the biggest and most popular banks in Thailand, so that you can start to compare options:

Bank name	Operational HQ
Bangkok Bank	Bangkok
Kasikorn Bank	Bangkok
Krungthai Bank	Bangkok
Siam Commercial Bank	Bangkok
Krungsri Bank	Bangkok
TMB Thanachart Bank	Bangkok
Government Savings Bank (GSB)	Bangkok
LH Bank	Bangkok
United Overseas Bank (UOB)	Bangkok
CIMB Thai Bank	Bangkok

Bangkok Bank

Thailand’s biggest bank is Bangkok Bank, which has a large network of branches and ATMs across the country. Founded in 1944, it is a commercial bank with an international reach.

The bank serves both personal and business customers. Its most popular products include an e-Savings Account, which you can open online. It lets you make payments, transfers and manage your money with mobile banking.

For businesses, Bangkok Bank has accounts, commercial cards, merchant and payment services, SME loans and many other useful financial services.

Kasikorn Bank

Established at a very similar time to Bangkok Bank, in 1945, Kasikorn Bank or KBank is another of the country’s leading banks.

It was originally called Thai Farmers Bank and originally focused on supporting the agriculture industry. But today, KBank provides a full range of personal, corporate and trade banking services.

For everyday banking, the KBank Savings Account could be a good choice. It’s available to both residents and foreigners, and offers everything you need for daily transactions.

Businesses can choose from accounts, loans, payment and collection services, international trade solutions, insurance and commercial cards.

Krungthai Bank

Founded in 1966, Krungthai Bank is a state-owned bank with a large branch network - including in rural locations which have limited banking facilities. It also has an overseas presence.

Krungthai Bank serves both retail and business customers, with products including a Savings Account. Among other features, this gives you interest on your money and lets you set up automatic direct debits for paying bills.

There are also tailored services for both SMEs and corporate clients, including accounts, cards, loans and more.

Siam Commercial Bank

Siam Commercial Bank (SCB) is one of the oldest banks in Thailand, with roots dating back to 1907 when it was founded by Royal Charter. It was registered as a public company in 1993.

The bank has accounts and services for individuals and businesses, including its popular General Savings Account. This is ideal for everyday banking, letting you make deposits, transfers and withdrawals, all managed through digital banking.

Business customers can choose from the following services at SCB - credit facilities, investments, capital markets, cash management and trade finance.

Krungsri Bank

Krungsri Bank, also known as the Bank of Ayudhya, is a major Thai bank founded in 1945. It is owned by the Mitsubishi UFJ Financial Group (MUFG) based in Japan, which became a major shareholder in 2013.

The bank has an extensive branch and ATM network, and offers a full suite of banking services to both retail and corporate customers.

A popular everyday account at Krungsri Bank is the Mee Tae Dai Savings Account. It offers withdrawals, transfers and deposits, along with paying daily interest on your money.

The bank also has loans, cash management and trade services for businesses, as well as wealth management solutions.

TMB Thanachart Bank (TTB)

TMB Thanachart Bank or TTB was established in 1957, and was previously known as the Thai Military Bank - due to its founding by Field Marshal Sarit Thanarat. It merged with Thanachart Bank in 2019 and became one of the largest banks in the country.

The bank offers personal and business banking, with a range of accounts to choose from. This includes the TTB All Free Deposit Account, a flexible solution for withdrawals, payments and deposits which can be linked to a debit card.

TTB has credit facilities and accounts for SMEs, and a similar range of services for larger businesses.

Government Savings Bank (GSB)

Government Savings Bank (GSB) is a state-owned bank founded in 1913 by King Vajiravudh (Rama VI). It was originally called the Savings Offices and was set up to educate Thai citizens on the benefits of long-term savings.

Today, GSB is still a savings specialist, with products such as a Savings Account for everyday use. It pays interest on your money, while at the same time offering flexible spending.

The bank doesn’t offer any services for business customers.

LH Bank

Land & Houses Bank (LH Bank) is a retail bank founded in 2004 by the real estate developers of the same name. It used to only offer financial services to customers of the business, but expanded its offer to include all personal customers in 2011.

This means you can choose from its full range of accounts, including a Digital Savings Account. It lets you deposit, withdraw and spend while earning interest on any spare cash, and it's all managed via mobile app.

LH Bank has dedicated solutions for SMEs and large business customers, including cash management services and business loans.

United Overseas Bank (UOB)

United Overseas Bank (UOB) is one of the largest foreign-owned banks in Thailand. It is owned by Singaporean multinational group UOB, and became even larger when it bought the Thai arm of Citibank in 2013.

UOB provides personal and business banking services, and is known for being one of the most expat-friendly banks. Among its most popular products is the UOB ONE Account, which offers unlimited deposits and withdrawals as well as savings interest.

For businesses, services include cash management, savings, loans, trade finance and global market solutions.

CIMB Thai Bank

The Malaysian-owned CIMB Bank in Thailand is another of the largest foreign-owned banks in the country. In recent years, it’s also become a digital-only bank.

For everyday banking, an option worth considering at CIMB is its Speed Savings Account. It’s a super flexible account with unlimited withdrawals and savings interest.

CIMB also has deposits, trade finance and cash management services for businesses.

Best online bank accounts and money management alternatives in Thailand

A bank isn’t the only way to manage your money overseas. There’s also the option of using a money app or digital account.

Here are a couple of the most popular choices in Thailand:

• TMRW - a digital banking app from UOB, with an account and debit card.

• LINE BK - a Thai ‘social banking’ platform connecting a popular social network and a leading digital bank, offering savings, debit cards and a credit line.

Wise – Money for here, there and everywhere

If you want to send money internationally, or use your debit card when you travel, you’re probably looking for the most cost-effective way.

The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account online, and you can send money worldwide in 40+ currencies for low fees and great exchange rates. It’s not a bank account but offers many similar features.

You can even get an international debit card for spending in over 150+ countries, including Thailand. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee*, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

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And that’s it - our full rundown of the 10 top banks in Thailand, including some of the country’s biggest banks.

You should now have all the info you need to compare options and choose the right bank for you. Good luck with your move to Thailand!

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Sources used for this article:

1. Expatica - How to open a bank account in Thailand

Sources last checked on 09-May-2024.