Can I still withdraw from my bank account?

[3road]

Hi, 

 

I have read on the internet foreigners are having trouble taking money out of their Thai bank account because they don't hold the proper visa. 

 

I opened a THai bank account 5 years ago then moved to Vietnam. The account is still open with some cash in it. I am now in TH on a two weeks holiday on a tourist visa on arrival  : can I withdraw from my Thai account?   Thanks a lot

[CharlieH]

Assuming you have the correct bank book in your name, with matching ID passport , there should be no issue.

 

 

MOVED to Banking forum

[Surelynot]

New law states if there is no activity for one year the bank can close account and take the money.

[Pib]

15 hours ago, Surelynot said:

New law states if there is no activity for one year the bank can close account and take the money.

Please post a weblink/reference to that "new law."   

 

P.S. And I know you will not....will not be able to since it's not true.  

[SteveK]

15 hours ago, Surelynot said:

New law states if there is no activity for one year the bank can close account and take the money.

I sincerely hope that you are talking rubbish.

[asiaexpat]

15 hours ago, Surelynot said:

New law states if there is no activity for one year the bank can close account and take the money.

Absolute rubbish as affirmed by one of my BBL accounts that I had not used for over a year and then withdrew some funds.

[PatOngo]

15 hours ago, Surelynot said:

New law states if there is no activity for one year the bank can close account and take the money.

Surely not!

[Pib]

OP,

   What you may have read social media crossfeed/posts where some farang had an issue in opening a new Thai bank acct because the bank branch wanted to see some kind of long term (i.e, 12 month) visa....or the farang simply had a English-Thai language miscommunication.  Been many, many of these kinds of posts over the years.

 

   The general rule for Thai banks is if you let your acct balance drop below Bt2,000 "AND" no owner acct activity such as deposit/withdrawal/transfer/bill payment is show over the last 12 months then the bank will start deducting a Bt50/month maintenance fee until the balance reaches zero and then the acct is closed.  BOTH criteria must be met....that is, balance below Bt2K and no owner activity for 12 months.   And if  your balance is above Bt2K you don't have to show any owner activity.

 

   Acct activity like annual debit card annual fee or interest payments is bank-generated activity; not owner generated.  Bank-generated acct does not count as owner activity.

 

   So, as long as you have maintained an adequate balance (Bt2K and above) even if you have had no user activity over the last 12 months your acct is still active.   But letting it drop below Bt2K "WITH" no owner activity for 12 months can trigger a Bt50/month maintenance fee which after several years would draw you acct down to zero and trigger closure.

 

   Now regarding a new law, well, there was a new law supposedly implemented in 2018 and but it dealt with acct closure if there is no user acct after 10 (ten) years regardless of balance....then the money is turned over to the govt.  But before that would occur the bank has to try to contact you by letter, phone, etc.  And even if your money does get turned over to the govt you can get back from the govt.  See below 2017 news article partial quote on subject

 

 

 

Quote

 

A law on pooling money parked in bank accounts that have been inactive for at least 10 years into the Finance Ministry's suspense accounts is expected to be enforced in October next year at the earliest, the head of the Fiscal Policy Office (FPO) said, and the law will restrict the money from such accounts to only be used to return money to account holders.

"Even after 10 or 20 years, [dormant] account holders can claim their money. The bill does not allow the use of money for any public benefits. If, in the future, people want to see the money used for public benefits, the law will need to be amended as the current version limits the usage to only returning to owners," said Suwit Rojanavanich, FPO director-general.

He said the Finance Ministry is gathering opinions from the public hearing that will run through Nov 14 and will seek the cabinet's approval on the draft bill before being forwarded to be reviewed by the Council of State and deliberation by the National Legislative Assembly.

The draft bill is aimed at managing dormant accounts with more than 2,000 baht per bank account, he said.

Banks are permitted to deduct monthly account maintenance fees of 50 baht to maintain accounts that have been dormant for one year and have outstanding deposits of under 2,000 baht until the balance is depleted.