Personal Bank Account in SE Asia as a Non-Resident

[financiallearner]

Hello all.

Are there are recommendations for opening a personal bank account in South East Asia that 1. Comes with a debit card for overseas spending and 2. Isn't in Thailand.

Can visit in person if needed to open.

Thank you in advance.

 

[Sols]

Singapore and Hong Kong if you can deposit at least 100,000 USD/equivalent (more may be required depending on your profile). You might get a UnionPay card instead of Visa or Mastercard with some banks so check closely.

Some Taiwanese banks accept non-residents, although they seem to prefer business accounts, which come with the usual requirements of connections to the country or region.

Malaysia: the major banks will sometimes open personal accounts for non-resident, usually for VIP banking (100,000+ USD) or if you have a company in Malaysia or Labuan.

Maldives: see https://www.mib.com.mv/personal-deposits/non-resident-foreign-account

Cambodia: several options, see for example https://www.offshorecorptalk.com/threads/cambodia-banks.40625/

Bangladesh: see https://www.offshorecorptalk.com/threads/bangladesh-offshore-banking-units.45419/

Philippines: reports vary but it has historically been easy to open a personal account, although you may now need to register for a tax ID first which may or may not require some sort of non-tourist visa. The situation seems unclear and reports vary between banks, people, and locations. It's not the easiest option but it's not impossible.

 

[financiallearner]

Singapore and Hong Kong if you can deposit at least 100,000 USD/equivalent (more may be required depending on your profile). You might get a UnionPay card instead of Visa or Mastercard with some banks so check closely.

Some Taiwanese banks accept non-residents, although they seem to prefer business accounts, which come with the usual requirements of connections to the country or region.

Malaysia: the major banks will sometimes open personal accounts for non-resident, usually for VIP banking (100,000+ USD) or if you have a company in Malaysia or Labuan.

Maldives: see https://www.mib.com.mv/personal-deposits/non-resident-foreign-account

Cambodia: several options, see for example https://www.offshorecorptalk.com/threads/cambodia-banks.40625/

Bangladesh: see https://www.offshorecorptalk.com/threads/bangladesh-offshore-banking-units.45419/

Philippines: reports vary but it has historically been easy to open a personal account, although you may now need to register for a tax ID first which may or may not require some sort of non-tourist visa. The situation seems unclear and reports vary between banks, people, and locations. It's not the easiest option but it's not impossible.

Thank you for your reply. It would only be used for debit card transactions for day to day spending, so only like $3-4k deposited/spent per month. No big lump sum.

 

[Piano]

Singapore and Hong Kong if you can deposit at least 100,000 USD/equivalent (more may be required depending on your profile). You might get a UnionPay card instead of Visa or Mastercard with some banks so check closely.

Some Taiwanese banks accept non-residents, although they seem to prefer business accounts, which come with the usual requirements of connections to the country or region.

Malaysia: the major banks will sometimes open personal accounts for non-resident, usually for VIP banking (100,000+ USD) or if you have a company in Malaysia or Labuan.

Maldives: see https://www.mib.com.mv/personal-deposits/non-resident-foreign-account

Cambodia: several options, see for example https://www.offshorecorptalk.com/threads/cambodia-banks.40625/

Bangladesh: see https://www.offshorecorptalk.com/threads/bangladesh-offshore-banking-units.45419/

Philippines: reports vary but it has historically been easy to open a personal account, although you may now need to register for a tax ID first which may or may not require some sort of non-tourist visa. The situation seems unclear and reports vary between banks, people, and locations. It's not the easiest option but it's not impossible.

Do you have an idea of the minimum required deposit for the MIB bank in the Maldives ?

 

[wellington]

Hello all.

Are there are recommendations for opening a personal bank account in South East Asia that 1. Comes with a debit card for overseas spending and 2. Isn't in Thailand.

Can visit in person if needed to open.

Thank you in advance.

Laos....

 

[Nacho]

ABA Bank in Cambodia. USD transaction account. Need to visit but easy to open, great customer service, easy to use banking app, Visa debit card for overseas spending. I’ve had an account with them for 6 years now, highly recommended!

 

[Clank]

ABA Bank in Cambodia. USD transaction account. Need to visit but easy to open, great customer service, easy to use banking app, Visa debit card for overseas spending. I’ve had an account with them for 6 years now, highly recommended!

How much they charge for international wires.

 

[daniels27]

It costs 0.15% (minimum of 15 USD) plus 15 USD cake chable for outgoing SWIFT transfers:
https://www.ababank.com/en/swift-transfers/

Incoming ones are 0.1% for USD and free for other currencies, see their website they have staggered minimums too.

 

[Clank]

It costs 0.15% (minimum of 15 USD) plus 15 USD cake charge for outgoing SWIFT transfers:
https://www.ababank.com/en/swift-transfers/

Incoming ones are 0.1% for USD and free for other currencies, see their website they have staggered minimums too.

Seems expensive. There are better options in HK or SG.