2 years no activity?

[Hal65]

I have savings accounts at Kasikorn, Thanachart, Krungsri, and Bangkok bank. If there's no activity for 2 years will they close the accounts or do anything else?

[allane]

You should expect closure if no activity for one year. (365 days). Probably done automatically by the computer. You might be able to re-open, if you make a deposit promptly ( maybe within 1 yr. ?) I did that once, though can't recall exactly how long after realizing the 1 yr. deadline had passed.

[Rookiescot]

They will start charging you bank fees in there is no activity for one year.

If memory serves its 100 baht per month for amounts under 2000 baht and 50 baht per month for those over 2000 baht. (Nope, me neither).

If you can make a deposit into the account electronically from wherever you are then it will give you another year.

[Pib]

They typical policy for a Thai bank is if your balance fails below Bt2,000 "and" no owner transaction activity such as a withdrawal/transfer/bill pay for 12 months (must meet both conditions), the bank will begin charging a Bt50/month fee until the balance reaches zero when the acct is closed.   

 

Periodic interest payments, automatic debit card annual fee, and other types of bank-generated activity does not count as owner-generated activity.   

 

So, if you have/left a balance of at least Bt2,000 a person should be fine.  And just remember if you left a balance of say exactly Bt2000, then the annual debit card fee hit bringing the balance below Bt2,000 then you have just help satisfy one of the conditions to start the clock ticking on acct in-activity.

 

Additionally, Thailand passed some law a few years ago that after 10 years if there is no acct user activity even with a balance above Bt2,000, the bank is required to turn that money over to the govt after the bank has tried to contact you.  But even if turned over to the govt the money is not loss to you; instead, you just need to now get with the govt to reclaim the money by showing your ID, passbook, etc.  

 

[Pib]

Just for example, here's a partial quote from Krungsri Bank's fee schedule talking acct inactivity....it typical for Thai banks.  Slightly different inactivity maintenance fee depending on whether you having a current (a.k.a., checking) or savings acct.  Expect most folks just have a savings acct.

 

[Pib]

And for K-bank.

 

[Pib]

From Bangkok Bank

 

[allane]

Pib, with reference to your Post # 4 above; are you able to cite a source for the 10 yr. figure you mentioned ? I have done research before in English, but never found anything.  

[scubascuba3]

If you had each bank app on your smartphone you could move money back and forth as required

[Pib]

5 minutes ago, allane said:

Pib, with reference to your Post # 4 above; are you able to cite a source for the 10 yr. figure you mentioned ? I have done research before in English, but never found anything.  

I was in Thai newspaper articles....Google along the lines of: "Dormant account move scheduled for 2018"  

 

This should lead to some Thai newspaper articles on the subject such as the Bangkok Post.

[allane]

Thank you ! I found Bangkok Post articles from Nov. '17 and Jan. 18 discussing the bill while it was a draft. We can only assume it was passed.

[Oldie]

As written here already if you get below the minimum balance and your account gets dormant you will be charged a fee until your account is 0. Then it will be closed automatically. If you are above the minimum balance your account will be blocked and no fee will be charged. A blocked account means for instance that online or ATM transactions are not possible. To unblock it you have to go with the book and passport to your branch. BUT if you cannot do this because you are for instance not in Thailand then you have a problem!!! 

[Kerryd]

I had an account with Siam Commercial awhile ago. Opened the account (in 2009), dropped 5,000 into it, didn't touch it again for over 10 years. At one point someone from the bank called me (I think at the 7 year point). I thought the account was closed by then.

Went in last November. Just over 10 years since I opened the account. My 5,000 had swollen to a massive 5,171 with the twice per year interest payments of (approx) 9.6 baht !

Had to talk to the branch manager to get them to unfreeze the account. Had to wait until the next day to go back and withdraw the 5,000 (I left the 171 in there to keep the account open. Who knows, 10 years from now it might be almost 180 baht !) (Yeah I know - the account will be charged a fee and then closed when the balance is down to 0. Sucks to be me !)

Wasn't even a hassle getting them to unfreeze the account or taking the money out despite how long it had sat there with no transactions at all.

I'm actually looking at the bank book now. I never updated it when I opened the account. I put it in the update machine last November and the first entry was dated 2011 so I guess it only goes back so far (8 years). If I'd just waited another month I would have gotten another 9.6 baht in interest !

So - that is my actual, first hand, personal experience with having a dormant Thai bank account.

Edited May 18, 2020 by Kerryd

[Bob A Kneale]

22 hours ago, allane said:

Pib, with reference to your Post # 4 above; are you able to cite a source for the 10 yr. figure you mentioned ? I have done research before in English, but never found anything.  

What he says is correct, there was some discussion about it in the media and official confirmation a few months ago.

[natway09]

If your account has less than 2,000 Bht in it & not used for 2 yeears what does it matter anyway ?

[Hal65]

48 minutes ago, natway09 said:

If your account has less than 2,000 Bht in it & not used for 2 yeears what does it matter anyway ?

Especially for Americans the requirements to open new accounts may become more and more of an issue. TMB flat rejects Americans.

[whaleboneman]

On 5/16/2020 at 10:25 PM, allane said:

You should expect closure if no activity for one year. (365 days). Probably done automatically by the computer. You might be able to re-open, if you make a deposit promptly ( maybe within 1 yr. ?) I did that once, though can't recall exactly how long after realizing the 1 yr. deadline had passed.

Fake news.

[Hanuman2547]

I opened a Bangkok Bank account back in 1993.  I only used it for a short time, maybe a year at most before switching to another Thai bank.  I never closed the account but left a little over 2,000 baht in it.  I basically forgot about the account over the years and went a good 8-9 or maybe 10 years without using it at all.  I went to the original Bangkok Bank branch where I opened the account and even after all those years of inactivity I was able to access the account.  I did have to get a new debit card and they updated the passbook.  No problem with the account and it works fine even to this day.