Changing a fixed deposit to another bank

[jacko45k]

9 hours ago, CRUNCHER said:

I can't confirm the accuracy of what I was told; I can only confirm what I was told.

It was likely she felt 'why confuse things'? And I tend to agree. Perhaps, after the 3 month report, you can change accounts. 

[CRUNCHER]

You might be right.  The word "perhaps" in your post says it all.

 

I am fortunate in that money per se  is not an issue for me, but the "perhaps factor" frustrates me along with the majority of posters on this thread.  I only need to know what the rules are so that I can comply. The lack of clarity is appalling and unnecessary.

[Vacuum]

On 5/6/2019 at 12:58 PM, Leaver said:

That's the way I see it.  A major disruption to the OP's visa plans, and for what, a small amount of interest.  Hardly worth it. 

 

The switch can be made after 400k of the 800k becomes accessible. 

My 'plan' was to take out 800k from the fixed account, which expired May 5, and open a new fixed account in another bank with better interest rates, the same day.

 

I asked the IO who dealt with my extension in March about changing banks. He didn't like the idea of changing banks (there could be a problem). Perhaps I should cancel the idea and just stay with the present bank (BKK).

[Leaver]

8 hours ago, Vacuum said:

My 'plan' was to take out 800k from the fixed account, which expired May 5, and open a new fixed account in another bank with better interest rates, the same day.

 

I asked the IO who dealt with my extension in March about changing banks. He didn't like the idea of changing banks (there could be a problem). Perhaps I should cancel the idea and just stay with the present bank (BKK).

It's an interesting scenario.

 

Effectively, it means expats on the 800k/400k method could be locked in to their particular bank, because there could be 1 day out of the 365 days that the balance falls below 400k, which then makes a problem come next extension application. 

[CRUNCHER]

1 hour ago, Leaver said:

It's an interesting scenario.

 

Effectively, it means expats on the 800k/400k method could be locked in to their particular bank, because there could be 1 day out of the 365 days that the balance falls below 400k, which then makes a problem come next extension application. 

In my case  can keep current account going until after the next extension and then close it. I would need to open a second account 3 months before the next extension on more favourable terms.

 

I can afford it, but what a hassle. What I hate is the fact that I am not completely sure I need to go down this road, but I do not want to risk the alternative.  I feel sorry for those who cannot afford to do this.

 

Common sense from the Immigration Department might be an oxymoron, but common "Big Aud"...... get real!!!!!!!