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Posted
5 minutes ago, matchar said:

I just checked the website and you are right...when I opened mine about 6 months ago it was up to 2 million though and they haven't notified me of any changes...does anyone know if existing customers are affected?

As of 1st Feb interest is only .5% on balances over 1 million....just had a little rant at there call centre saying thanks for not telling me. Just done the transfer on my app so 1.5 % for the 1st Million and 1% for the second in my other Scb account.

  • Like 1
Posted
31 minutes ago, matchar said:

And good luck to anyone trying to open a Krunsgri account. I tried 2 different branches with my work permit, passport and Thai driving license but they kept telling me this was not enough due to some crazy new rules and handed me a badly translated list of requirements.IMG_20211011_143629.thumb.jpg.21ed6a216e28f6d152e0ff5bc62e461f.jpg

That is a bit strange as usually the work permit and passport would be sufficient, as the work permit generally has your address on it, correct?

I think with either a Certificate of Residence from Immigration or an affidavit affirming your address in Thailand from your Embassy would along with what you have already be sufficient.

Krungsri Bank generally has a reputation of being one of the easier banks to open an account at, so perhaps try a different Krungsri Bank branch, one you think would have a lot of foreign customers (judging by the people who live in the neighborhood).  Some branches simply don't want another foreign customer (so it seems), best to just try another branch that doesn't have that same problem.

I opened a Krungsri Bank account with a passport showing long-term extension and a certificate of residence from immigration.  No work permit, no yellow book at that time.

IMG_20211011_143629.jpg.464dc6cabaf18cc61a4a02e2748b6f80 (1).jpg

Posted
Just now, skatewash said:

That is a bit strange as usually the work permit and passport would be sufficient, as the work permit generally has your address on it, correct?

I think with either a Certificate of Residence from Immigration or an affidavit affirming your address in Thailand from your Embassy would along with what you have already be sufficient.

Krungsri Bank generally has a reputation of being one of the easier banks to open an account at, so perhaps try a different Krungsri Bank branch, one you think would have a lot of foreign customers (judging by the people who live in the neighborhood).  Some branches simply don't want another foreign customer (so it seems), best to just try another branch that doesn't have that same problem.

I opened a Krungsri Bank account with a passport showing long-term extension and a certificate of residence from immigration.  No work permit, no yellow book at that time.

IMG_20211011_143629.jpg.464dc6cabaf18cc61a4a02e2748b6f80 (1).jpg

Basically, what they are looking for is that someone in a position to know for certain can verify that your passport is legit.  That's Immigration or your Embassy.  They want to be able to say that one of those two agencies confirmed you are who you say you are/live where you say you live.

For a foreigner the Immigration certificate of residence or embassy issued affidavit of residence in Thailand is equivalent to the Yellow House Registration Book (which you would only have if you owned your dwelling or had great cooperation from the owner).  The easiest thing to get is probably the CoR from immigration (also cheaper than anything from your embassy).

Posted
1 hour ago, keithsimmonds said:

As of 1st Feb interest is only .5% on balances over 1 million....just had a little rant at there call centre saying thanks for not telling me. Just done the transfer on my app so 1.5 % for the 1st Million and 1% for the second in my other Scb account.

Which SCB account is paying 1%?

Posted (edited)
6 hours ago, keithsimmonds said:

 telling me. Just done the transfer on my app so 1.5 % for the 1st Million and 1% for the second in my other Scb account.

Sorry, didn't read your previous post.

Edited by EricTh
Posted (edited)
On 1/7/2022 at 7:53 AM, gamb00ler said:

 

The 4K comes from the difference in interest rates between the SCB EZ account(1.5%) and the Mee Tae Dai account (~1%) at Krungsri.  The .5% difference in rates on the 800K used for @shortstop2's retirement extension is 4,000 ฿ per year.

 

This is from their website.

*Interest rate is 1.5% p.a. until further change as announced by SCB.

 

So SCB can change it to a lower rate anytime. Mee Tae Dai interest rate is quite good because I have been using it for a few years now.

 

This SCB 1.5% might just be temporary (I hope not). Let's keep each other updated.

 

Has anybody asked immigration yet whether they can accept online accounts and which documents do they need from the bank for a visa extension?

 

Edited by EricTh
Posted
9 hours ago, skatewash said:

Give Krungsri Bank's Mee Tae Dai savings account paying 1% APR earned daily, paid monthly a try.

Also, EZ Savings account from SCB is paying 1.5% APR if balance less than 5 million (Note you are only covered by deposit insurance in Thailand up to 1 million baht per bank).

 

Bad news. Krungsri just decreased their Mee Tae Dai interest rate to 0.9% from 1 Feb 2022.

 

https://www.krungsri.com/Krungsri2020/media/Banking-Rate/deposit-rates/en/deposit-rates-01022565-en.pdf

 

  • Like 1
Posted
9 minutes ago, EricTh said:

 

This is from their website.

*Interest rate is 1.5% p.a. until further change as announced by SCB.

 

So SCB can change it to a lower rate anytime. Mee Tae Dai interest rate is quite good because I have been using it for a few years now.

 

This SCB 1.5% might just be temporary (I hope not). Let's keep each other updated.

 

Has anybody asked immigration yet whether they can accept online accounts and which documents do they need from the bank for a visa extension?

 

Both SCB's EZ Savings and Krungsri Bank's Mee Tae Dai savings accounts can change the interest rate offered at any time.  They are not fixed (rate) accounts.

 

That said Mee Tae Dai account has been at 1% APR interest or higherfor several years.

Posted (edited)
17 hours ago, keithsimmonds said:




Jad-Tem Account E PASSBOOK
Up to Baht 100,000 (A) 0.25 - - - - - - - - - - - -
More than Baht 100,000 up to Baht 3,000,000 (B)..... 1%

 

 

This is another online bank account, does that mean that you need 1 immigration letter and 2 statements for visa extension from the same bank?

 

How much would be the charge?

 

Edited by EricTh
Posted
2 hours ago, EricTh said:

 

This is another online bank account, does that mean that you need 1 immigration letter and 2 statements for visa extension from the same bank?

 

How much would be the charge?

 

200baht to have the eyes dotted and t,s crossed it was for me last December..Letter plus statement for 2 accounts.

 

Posted (edited)
1 hour ago, keithsimmonds said:

200baht to have the eyes dotted and t,s crossed it was for me last December..Letter plus statement for 2 accounts.

 

So immigration will actually accept the 12 months statement from an online account in lieu of a bank book?

 

I think it would really save me some time if I don't need to photocopy the bank book pages for a non online account.

 

 

Edited by EricTh
Posted
15 hours ago, EricTh said:

So immigration will actually accept the 12 months statement from an online account in lieu of a bank book?

 

I think it would really save me some time if I don't need to photocopy the bank book pages for a non online account.

 

 

Yes..they will and did. This December i will just get a letter that states the opening balance of the EZ account and the balance at that days date. (no need for statement imho)

  • Like 2
Posted
48 minutes ago, keithsimmonds said:

Yes..they will and did. This December i will just get a letter that states the opening balance of the EZ account and the balance at that days date. (no need for statement imho)

Which immigration office?

Wonder how it would fly at immigration offices, like Phuket, that absolutely ask for a statement, and are used to being able to ask to see your passbook.

Posted
4 minutes ago, JoePai said:

The problem with an SCB EZ account - or so I was told - is the interest is taxed

I don't believe that is the case because an SCB EZ account is classed as a savings account and should therefore be eligible for the mandatory tax withholding on interest earned exception for account holders who register their Thai Tax ID with the account.

Also, reading the description of the SCB EZ Savings Account available at the SCB site in English, it seems they are aware of the exception to mandatory tax withholding on interest earned because they state it.

When I opened my EZ Savings account the clerk took notice of my Thai Tax ID Card, possibly associating it with my account.  Other people have said SCB told them they cannot associate Thai Tax ID numbers with a n EZ Savings account.  It will be June 25, 2022, or thereabouts until I will have first hand evidence of whether they withhold tax on interest earned or not as that is the first time interest will be paid into my account.

interest earned on any bank account in Thailand is taxable, whether mandatory tax withholding occurs depends on the type of account (no way to avoid on fixed deposits, avoidable on savings accounts if Thai Tax ID is associated with account and interest earned less than 20k).

It would be odd that EZ Savings accounts cannot have Thai Tax IDs associated with them because the SCB explains the exception to tax withholding.  It is possible, however.  This would NOT affect Thai account holders as their Thai National ID number is their Thai Tax ID number, therefore one field serves both purposes.  It's possible that the design of the software leaves foreigners out in the cold, that is, unable to associate their Thai Tax ID with the SCB EZ Savings account.  It would certainly be a less desirable account to foreigners if that's the case.

Posted
4 hours ago, skatewash said:

Which immigration office?

Wonder how it would fly at immigration offices, like Phuket, that absolutely ask for a statement, and are used to being able to ask to see your passbook.

Pattaya/Jomtien immigration.

To clarify the nice ladies at SCB (Soi Noen Plub Wan) will write that the balance has never (touch wood) fallen below 800,000baht.

Inland Revenue is just 250 metres from immigration so easy to claim back tax on interest..(not bothered about having Tax Id reference number linked to any accounts)

Posted (edited)
1 hour ago, JoePai said:

The problem with an SCB EZ account - or so I was told - is the interest is taxed

It is treated no differently than any other savings account.

 

I opened my account at the SCB branch in Big C on superhighway in CM.  They had trouble creating my account on my first visit.  I asked if I needed to get a tax ID before they could open it.  They said yes.  When I returned  with my tax ID card in hand (Aug '21) the account was opened.  My first interest payment on Dec. 25, '21 did NOT have tax withheld.

 

I stopped at a different SCB branch just the other day and asked if SCB could produce a statement covering 12 month of account activity to give to Immigration.  They said YES and it would  require me to return the next day to pick it up.  Unfortunately I forgot to ask what the cost would be.

 

I am NOT Thai and I am not from USA so no requirement of onerous paperwork on SCB's part.  I'm on retirement "O" extension.

Edited by gamb00ler
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Posted
52 minutes ago, keithsimmonds said:

Pattaya/Jomtien immigration.

To clarify the nice ladies at SCB (Soi Noen Plub Wan) will write that the balance has never (touch wood) fallen below 800,000baht.

Inland Revenue is just 250 metres from immigration so easy to claim back tax on interest..(not bothered about having Tax Id reference number linked to any accounts)

Sounds like you have it worked out well in an acceptable way with your immigration office.

I won't risk it in Phuket, but will keep my ears open for similar accounts at Phuket immigration of success with EZ Savings account.

Posted
14 hours ago, gamb00ler said:

It is treated no differently than any other savings account.

 

I opened my account at the SCB branch in Big C on superhighway in CM.  They had trouble creating my account on my first visit.  I asked if I needed to get a tax ID before they could open it.  They said yes.  When I returned  with my tax ID card in hand (Aug '21) the account was opened.  My first interest payment on Dec. 25, '21 did NOT have tax withheld.

 

I stopped at a different SCB branch just the other day and asked if SCB could produce a statement covering 12 month of account activity to give to Immigration.  They said YES and it would  require me to return the next day to pick it up.  Unfortunately I forgot to ask what the cost would be.

 

I am NOT Thai and I am not from USA so no requirement of onerous paperwork on SCB's part.  I'm on retirement "O" extension.

Interesting thank you

  • 1 month later...
Posted

Three years ago, I opened a fixed deposit at SCB, 1.85 %  , 800000 bahts 

Yesterday, I got the interests : 44400 bahts minus 6600 bahts of taxes ( refund next year ) , i.e 37774 bahts net   I use it only for immigration

now, with the same fixed deposit, I have for three more years at 0,65 % 

I thought to open a new 3 years account, but now they are only at 0.40 %

May be open a new deposit in an other bank, but will they accept a new customer only for deposit ? because I want to stay at SCB, only 4 kms from my home 

 

 

ps: SCB EZ Savings account, one million bahts, does it work for immigration ? because my two goals are to have interests, but first, to show the account for my visa extension

thank you 

  • 4 weeks later...
Posted
On 3/22/2022 at 1:06 PM, Aforek said:

Three years ago, I opened a fixed deposit at SCB, 1.85 %  , 800000 bahts 

Yesterday, I got the interests : 44400 bahts minus 6600 bahts of taxes ( refund next year ) , i.e 37774 bahts net   I use it only for immigration

now, with the same fixed deposit, I have for three more years at 0,65 % 

I thought to open a new 3 years account, but now they are only at 0.40 %

May be open a new deposit in an other bank, but will they accept a new customer only for deposit ? because I want to stay at SCB, only 4 kms from my home 

 

 

ps: SCB EZ Savings account, one million bahts, does it work for immigration ? because my two goals are to have interests, but first, to show the account for my visa extension

thank you 

I am quite sure you can use the SCB at immigration in Jomtien, but I would verify with your bank that others are using it at your immigration office. Also realize that's the bank the king has a huge stake in, so one would hope immigration would accept it.

Posted
4 minutes ago, opporna said:

I am quite sure you can use the SCB at immigration in Jomtien, but I would verify with your bank that others are using it at your immigration office. Also realize that's the bank the king has a huge stake in, so one would hope immigration would accept it.

I don't think the Issue is with SCB per se, I think the issue is having an online (no passbook) savings account like SCB's  EZ Savings Account (1.5% APR interest).  If your immigration office wants copies of your passbook for the account and wishes to see the actual passbook (as the Phuket Immigration office does, along with a bank letter and stamped 12-month bank statement) it may be problemmatic if you don't have a passbook.

  • Like 1
Posted

Yes, I'm aware of the issues. I have seen reports of Pattaya immigration accepting the accounts without passbook. Perhaps Phuket does not--but I'm guessing that they will because SCB is so well connected. If I were in the situation I would seek confirmation of that fact.

  • 2 months later...
Posted
On 3/22/2022 at 1:06 PM, Aforek said:

Three years ago, I opened a fixed deposit at SCB, 1.85 %  , 800000 bahts 

Yesterday, I got the interests : 44400 bahts minus 6600 bahts of taxes ( refund next year ) , i.e 37774 bahts net :

How does one get the tax refund and who is eligible?

Posted
1 hour ago, Aforek said:

When the forum was "Thai visa ", there was a post named " https://www.thaivisa.com/forum/topic/610294-obtaining-refund-of-tax-withheld-on-thai-bank-fixed-savings-account/"

 

try to find it on asean now , I am sure it's still somewhere 

Use the site:aseannow.com tag in a Google search to restrict looking to just the aseannow.com site.  If you forget this tag just do Advanced Google Search and restrict the site to aseannow.com.

Google site:aseannow.com obtaining refund of tax withheld on thai bank fixed savings account

returns results such as:

 

Using search within Aseannow.com is not worth doing in my estimation.  Yes, the link referenced answers the question posted.

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