New Gov Directives On Fixed Rate Deposits?

[rexall]

Wed 07 Feb 07, 6:01 p.m.

Originally posted by peteh on KhonKaen.com Forum on 05 February 2007. Re-posted here with Pete's permission. Thanks.

Was anyone aware of the new Government Directives relating to "Farang's" holding a Fixed deposit Account?

I have just returned from my branch of Bangkok Bank. I had to go there because a 10 month Fixed deposit account matured today and they telephoned last week to ask me to go and move the money to a new account.

On arrival I was asked how much I wanted to put into the new account and told them all of the money in the "old" account. The clerk then proceeded to process a "Bog Standard" 0.75 per cent Savings account.

My wife told him that I wanted a 12 month Fixed Interest account and he responded that "as of today" Bangkok Bank are following a new Government directive that prohibits "Farang" from opening a new account (Fixed Rate Deposit). "Farang" can now ONLY open a standard Savings account.

I was very peeved about this and told him that if that was the case I would withdraw all of my money. He was really pissed about that, but gave me the cash to take away.

I then went to my branch of Siam Bank, where I have both Savings and Fixed Rate accounts. They were only too happy to accept the deposit to my Fixed Rate account, but confirmed that they are "about to" adopt the same directive, although if I wanted to open a new account today I would still be able to do so.

They went on to explain that this does NOT affect existing accounts, it just means that you can no longer open a new FR account.

I was completely taken by surprise by all of this as I try to keep up with any "changes" relating to "Farangs".

Did anyone know about this new "directive"?

[rexall]

Delted. Wrong forum!

Edited February 7, 2007 by rexall

[The Dan Sai Kid]

rexall, you seem to be confused about what you are replying to as well!

[rexall]

rexall, you seem to be confused about what you are replying to as well!

:D :D :bah: