Where to keep surplus funds?

[recom273]

I’m currently applying for my first extension of stay based up marriage, although we have been married for 9 years, I have always had either a work based extension or savannakhet ME visa.

 

I currently have around 1M baht in a single savings account with an ATM card - the same account that I use to buy goods from the internet, which is slightly worrying. I asked the bank for another account without an atm card to store surplus funds - Sorry, sir, cannot.

 

Does anyone else have any suggestions on how to approach the bank? it seems if I’m on a retirement visa I can have as many accounts as I want, but by marriage, I’m restricted to one account. Seems absurd, considering all the upheaval in the retirement visa and seasoning rules.

[SteveK]

Surely you can just go to a different bank? How would they be able to know whether you have an account elsewhere or not?

[recom273]

Surely you can just go to a different bank? How would they be able to know whether you have an account elsewhere or not?

That’s just as much of a headache to open another account by walking in off the street down here.


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[KittenKong]

29 minutes ago, recom273 said:

I currently have around 1M baht in a single savings account with an ATM card - the same account that I use to buy goods from the internet, which is slightly worrying. I asked the bank for another account without an atm card to store surplus funds - Sorry, sir, cannot.

Which bank is that? All my banks here let me have more than one account, for exactly the reason you describe.

[Lacessit]

Just buy gold at any of the shopping malls, and take it home with you.

[Pib]

I have multiple accounts at Bangkok Bank for the reason the OP is trying to open more than one account.  I didn't get any resistance....I'm on a retirement extension of stay.

[recom273]

37 minutes ago, KittenKong said:

Which bank is that? All my banks here let me have more than one account, for exactly the reason you describe.

Kasikorn - but the rules are from bank of Thailand - marriage visa = one account. 

 

I used to have bank of Bangkok, thEy refused to allow me to use internet banking, and when I lost my atm card I had to fly to Bkk to a get a replacement. So .. 

 

13 minutes ago, Pib said:

I have multiple accounts at Bangkok Bank for the reason the OP is trying to open more than one account.  I didn't get any resistance....I'm on a retirement extension of stay.

Yup! Retirement visa = no problems, as many as you want. 

[Pib]

1 hour ago, recom273 said:

Kasikorn - but the rules are from bank of Thailand - marriage visa = one account. 

 

I used to have bank of Bangkok, thEy refused to allow me to use internet banking, and when I lost my atm card I had to fly to Bkk to a get a replacement. So .. 

 

Yup! Retirement visa = no problems, as many as you want.  

 

I seriously, seriously, seriously doubt there is such a rule from the Bank of Thailand.  Expect your branch made that up...trying to deflect the real reason...with the real reason they just didn't want to give you a second account....maybe because they thought "this farang" may be up to no good.

 

When banks consider the type of visa they are really just looking for a "long term" visa for a year...not whether it's a retirement, marriage, or some other variation of a 1 year/long stay visa.

Edited February 18, 2019 by Pib

[Anythingleft?]

I seriously, seriously, seriously doubt there is such a rule from the Bank of Thailand.  Expect your branch made that up...trying to deflect the real reason...with the real reason they just didn't want to give you a second account....maybe because they thought "this farang" may be up to no good.
 
When banks consider the type of visa they are really just looking for a "long term" visa for a year...not whether it's a retirement, marriage, or some other variation of a 1 year/long stay visa.

Kasikorn were funny with me 2 years ago when I closed a USD account, the lady was adamant that new rules in place, and coming, meant I would not be able to reopen and only one account at a time would be available. This was under a marriage visa at the time

Unsure if the rules here are clear to all the workers as it seems very hit and miss....

OP take a walk branch to branch, they all differ...

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[recom273]

2 hours ago, Pib said:

I seriously, seriously, seriously doubt there is such a rule from the Bank of Thailand.  Expect your branch made that up...trying to deflect the real reason...with the real reason they just didn't want to give you a second account....maybe because they thought "this farang" may be up to no good.

 

When banks consider the type of visa they are really just looking for a "long term" visa for a year...not whether it's a retirement, marriage, or some other variation of a 1 year/long stay visa.

Why not give them a call yourself? In the first instance I called on an unrelated thing and just asked, “no sorry sir, marriage visa is limited to one account, retired or WP as many as you like”

 

So far I have asked at 2 branches even suggesting to the manager it’s his discretion to wether or not he can open another account for me. Both said, bank of Thailand rules, sorry. 

 

I called Kasikorn today, with the intention of getting a fixed deposit account, no, marriage visas are restricted to one account, but apply to the bank in person and the manager can apply for special consideration on your behalf.

 

I will just need to keep trucking round the branches. 

 

Give them a call .. and can I ask the number of accounts you have? What bank are they with? Might be helpful.  

[Pib]

Give Bangkok Bank a try.  Between the wife and I we have four savings accounts at Bangkok Bank...two are joint accounts and then each of us have an account in our name only for a total of four accounts.

 

Edited February 18, 2019 by Pib

[Ratt Thai]

3 hours ago, recom273 said:

Kasikorn - but the rules are from bank of Thailand - marriage visa = one account. 

 

I used to have bank of Bangkok, thEy refused to allow me to use internet banking, and when I lost my atm card I had to fly to Bkk to a get a replacement. So .. 

 

Yup! Retirement visa = no problems, as many as you want. 

i was on marriage visa ( non O me ) before (not extension of stay)

i do have a yellow housebook and can freely open bank accounts, have phone in my name, car registered, anything i want.

i have multiple bank accounts opened , without the yellow book i just needed my spouse to sign for using her adress.

 

many banks ask for a work permit, because it has a adres in it on your name, but my 2 last BKK accounts where opened on my yellow housebook only.

i have 4 Bangkok bank accounts , + Ktb and Kasikorn.

I do have internet capable visa cards, but only debit as i don't want credit cards.

i just replenish my accounts monthly by cash payments or with an connected paypall account.

"rules are from bank of Thailand ?" never heard of such...

 

 

Edited February 18, 2019 by Ratt Thai

[blackcab]

6 hours ago, recom273 said:

I currently have around 1M baht...

 

Withdraw the million baht in cash, walk into a bank with your ID and see if things change.