Updating Bankbook/Passbook

[AAArdvark]

I see many references to people "updating" their bankbooks or passbooks.  I have not seen either of those in like 50 years.  So, just how is this updating done?  Some people say they do a transaction to update it, someone else says their bank has a machine the you stick your book in to update. What are the ways to do this?

[Pib]

You either go into a bank branch to a teller and they will update it.  Or, the easier way, stick your passbook into a Passbook Update Machine at a branch.   

 

Next time you are around a bank take a look at the machine they have just outside/inside the branch....you should see Automated Teller Machines (ATM), Passbook Update Machines (PUD), and/or Cash Deposit Machines (CDM)....and in more and more cases some machines severe multiple functions like a machine might be a combo ATM & CDM....and some of the newest machines will do ATM/PUD/CDM.   

[Pilotman]

On related subject, will the bank issue the immigration letter then and there when you drop in and ask, or does it take a day or so to do?  Also, can you get that letter at any branch of your bank, or just at the branch that holds your account?   Thanks. 

[rjwill01]

Thai Banks have a very antiquated system. I once asked why all the rubber stamps and carbon paper? I was told their system is still Dos based. I told them I was in Banking in 1974 and we had the same system.

Edited February 26, 2019 by rjwill01
Add.

[Pib]

Now that you will need to ask your bank and banks/branches vary (TIT).  I have used the Bt800K deposit method for the last 8 or so years at Chaengwattana (Bangkok) immigration and I've have used accounts at both the Bangkok Bank branch and the Krungsri Bank branch in the same building at immigration.  

 

Both of these branches generate the letter within 15 minutes or so....I've always get it just before I go into the immigration office.....instead of standing at the immigration doors which open at 8:30am I stand in front of the bank branch doors which also open at 8:30am.  I first get the letter from the bank and then around 8:45pm I'm at immigration. 

 

The Bangkok Bank branch can provide the letter regardless of your Bangkok Bank branch in Thailand....and they even use to have a sign on their door saying such.  Don't know about Krungsri.  It's an easy (short & sweet) letter for any bank to generate as it simply gives your name, account number, balance as of that date, how long you've been with the bank.....nothing about seasoning of money, international transfers, etc.  It's really just a letter that immigration wants to reconfirm the passbook that you present is legit.

 

[scoutman360]

I normally don't update my bank book because I do my banking on internet or ATM. Once I go into a branch, strange things happen. KBank  will summarize the yearly transactions into 1 line item, but SCB listed everything and had to give me an insert then a new bank book to carry it all.

[Pib]

I also have a Krungsri Bank account which I update the passbook maybe 2 of 3 times a year....so far, they have always listed all transactions, however, this account is used for "savings", my Bt800K retirement extension of stay account, and for emergency money only.  Rarely do I dip into it....it's pretty much just shows two transactions per month which are the monthly interest payment and a SMS monthly fee.  So, if I only updated it every 6 months there would only be 12 transactions to print....and so far they have all printed.  

 

Now the wife has a KrungThai Bank account....maybe twice a year she updates it....and the only transactions occurring is a monthly benefit direct deposit, twice a year interest payment, and once a year debit card fee.   So, if updating every six months six direct deposit payments and one interest payment for a total of 7 transactions should print.   However, what happens is several lines of summary transactions that would take a Certified Public Accountant to explain...a really strange summary transaction....sometimes 4 lines of summary...but zero to do with individual transactions.  KrungThai has the strangest summary transaction in comparison to our other banks.

 

Now once every four months I do a ibanking statement retrieval for all our bank accounts which shows all transactions....I save that to my computer for various purposes.  Since ibanking systems for the three different banks we have accounts at only reflect 6 months back, I do the retrievals every 4 months to ensure I don't miss a few days of transactions if I was a little tardy (which I would be) if doing 6 month retrievals

 

Yeap, what triggers a summary transaction in a passbook versus printing all/individual transactions seems to vary from bank to bank.  Some seem to base it on a time period...others on how many transactions...and other a combination of time and number of transactions.

[AAArdvark]

On 2/25/2019 at 9:52 PM, Pib said:

You either go into a bank branch to a teller and they will update it.  Or, the easier way, stick your passbook into a Passbook Update Machine at a branch.   

 

Next time you are around a bank take a look at the machine they have just outside/inside the branch....you should see Automated Teller Machines (ATM), Passbook Update Machines (PUD), and/or Cash Deposit Machines (CDM)....and in more and more cases some machines severe multiple functions like a machine might be a combo ATM & CDM....and some of the newest machines will do ATM/PUD/CDM.   

OK but what is the updating actually doing. Is in just transferring activity to the passbook?  Is that why some people say they do a transaction on the day of the update, so that the passbook has a transaction that is current? 

[skatewash]

3 minutes ago, AAArdvark said:

OK but what is the updating actually doing. Is in just transferring activity to the passbook?  Is that why some people say they do a transaction on the day of the update, so that the passbook has a transaction that is current? 

Yes and yes.

[Pib]

What skatewash said. ^^^

 

Additionally, since most Thai banks only show transfers going back 6 months on your ibanking, unless you do periodically printouts from your ibanking you will not be able to see the transaction on your ibanking after 6 months.  You would then need to go to your branch and ask for a statement at a fee.  But if you update your passbook frequently all transactions get printed in your passbook....you have a printed record of your transactions.  

 

No matter what you think of passbooks, in Thailand they are still used....and many Thais (especially older generations who don't use or understand the internet/ibanking/mbanking/etc.) only feel comfortable about their money in a bank if they have a passbook in their hands showing their transactions, balance, etc.  

 

I figure it will take at least another generation before passbooks are a thing of the past in Thailand.