skatewash Posted February 11, 2022 Share Posted February 11, 2022 34 minutes ago, keithsimmonds said: SCB Ez is paying 1.5% up to 1 million... Yes, think you're right. An error when I said 5 million. Link to comment Share on other sites More sharing options...
keithsimmonds Posted February 11, 2022 Share Posted February 11, 2022 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. 1 Link to comment Share on other sites More sharing options...
skatewash Posted February 11, 2022 Share Posted February 11, 2022 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. 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. Link to comment Share on other sites More sharing options...
skatewash Posted February 11, 2022 Share Posted February 11, 2022 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. 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). Link to comment Share on other sites More sharing options...
matchar Posted February 11, 2022 Share Posted February 11, 2022 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%? Link to comment Share on other sites More sharing options...
keithsimmonds Posted February 11, 2022 Share Posted February 11, 2022 Jad-Tem Account E PASSBOOKUp to Baht 100,000 (A) 0.25 - - - - - - - - - - - -More than Baht 100,000 up to Baht 3,000,000 (B)..... 1% 2 Link to comment Share on other sites More sharing options...
EricTh Posted February 11, 2022 Share Posted February 11, 2022 (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 February 11, 2022 by EricTh Link to comment Share on other sites More sharing options...
EricTh Posted February 11, 2022 Share Posted February 11, 2022 (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 February 11, 2022 by EricTh Link to comment Share on other sites More sharing options...
EricTh Posted February 11, 2022 Share Posted February 11, 2022 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 1 Link to comment Share on other sites More sharing options...
skatewash Posted February 11, 2022 Share Posted February 11, 2022 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. Link to comment Share on other sites More sharing options...
EricTh Posted February 12, 2022 Share Posted February 12, 2022 (edited) 17 hours ago, keithsimmonds said: Jad-Tem Account E PASSBOOKUp 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 February 12, 2022 by EricTh Link to comment Share on other sites More sharing options...
keithsimmonds Posted February 12, 2022 Share Posted February 12, 2022 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. Link to comment Share on other sites More sharing options...
EricTh Posted February 12, 2022 Share Posted February 12, 2022 (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 February 12, 2022 by EricTh Link to comment Share on other sites More sharing options...
keithsimmonds Posted February 13, 2022 Share Posted February 13, 2022 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) 2 Link to comment Share on other sites More sharing options...
skatewash Posted February 13, 2022 Share Posted February 13, 2022 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. Link to comment Share on other sites More sharing options...
JoePai Posted February 13, 2022 Share Posted February 13, 2022 The problem with an SCB EZ account - or so I was told - is the interest is taxed Link to comment Share on other sites More sharing options...
skatewash Posted February 13, 2022 Share Posted February 13, 2022 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. Link to comment Share on other sites More sharing options...
keithsimmonds Posted February 13, 2022 Share Posted February 13, 2022 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) Link to comment Share on other sites More sharing options...
gamb00ler Posted February 13, 2022 Share Posted February 13, 2022 (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 February 13, 2022 by gamb00ler 1 Link to comment Share on other sites More sharing options...
skatewash Posted February 13, 2022 Share Posted February 13, 2022 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. Link to comment Share on other sites More sharing options...
JoePai Posted February 14, 2022 Share Posted February 14, 2022 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 Link to comment Share on other sites More sharing options...
Aforek Posted March 22, 2022 Share Posted March 22, 2022 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 Link to comment Share on other sites More sharing options...
topt Posted March 22, 2022 Share Posted March 22, 2022 6 hours ago, Aforek said: because I want to stay at SCB, only 4 kms from my home Have you looked at the Jad Tem account? That can get you nearly 1% - https://www.scb.co.th/en/personal-banking/deposits/savings-account/jad-tem-account.html 1 Link to comment Share on other sites More sharing options...
opporna Posted April 17, 2022 Share Posted April 17, 2022 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. Link to comment Share on other sites More sharing options...
skatewash Posted April 17, 2022 Share Posted April 17, 2022 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. 1 Link to comment Share on other sites More sharing options...
opporna Posted April 23, 2022 Share Posted April 23, 2022 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. Link to comment Share on other sites More sharing options...
JimmyJ Posted June 25, 2022 Share Posted June 25, 2022 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? Link to comment Share on other sites More sharing options...
Aforek Posted June 25, 2022 Share Posted June 25, 2022 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 1 Link to comment Share on other sites More sharing options...
skatewash Posted June 25, 2022 Share Posted June 25, 2022 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. 2 Link to comment Share on other sites More sharing options...
JimmyJ Posted June 25, 2022 Share Posted June 25, 2022 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 Thank you for the link. This one works: Link to comment Share on other sites More sharing options...
Recommended Posts