800,000 baht, Bangkok Bank. How to keep secure?

[Goldbear]

Sorry for the strange title. I have an account at Bangkok Bank. I have a debit card. I want to transfer over the equivalent of 800,000 baht for visa extension purposes. I want to have the 800,000 not accessible via the ATM card because I have heard of thefts. Does anyone know a way to do that?

 

The reason I am asking here and not at my bank branch is because the lady who does the accounts for foreigners has given me bad information before. I think to get out of doing work. She told me that Immigration requires that the money be in Baht and not in foreign currency which I heard on this forum isn't true. When I lost my debit card, she refused to give me a new one. I had to call the main office and they made her do it.

 

Anyway, if any of you have ideas please let me know. Thanks.

 

 

 

[stouricks]

You CAN keep it in a Foreign Currency Account, but keep an eye on the exchange rate so that it doesn't dip below 800k. Or put it in a Fixed Rate Deposit account for which you do not get a card. Or put it in a normal savings account, and cut the card up or hide it.

[Oldie]

You don't need to have a debit card for an account. Avoid it especially for accounts with a lot of money. 

[metisdead]

You could put 500K in a Fixed Deposit account and use the debit card linked to your current account, just keep the account linked to the debit card at a balance of 300K minimum. 

 

I've been doing that for years and no problems from immigration. 

[Goldbear]

Thanks for the replies so far. Again, I'm asking here because I don't trust the lady at the bank. How can I get another account there? When I asked about opening a foreign currency account I had to jump through a lot of hoops including going to the embassy, to get a letter confirming that my passport is valid. It seems as though if I already have an account there that I shouldn't have to do any of that.

 

I'm trying to get a 30 day entry (with covid extension) converted to an O-visa so I can get another retirement extension. I had one before but it expired when I left Thailand for a while.

 

Thanks.

 

 

[robblok]

I have had much higher amounts in my kasikorn bank. Never a problem with Theft over 15 years now. I guess it depends how secure you keep your ATM card and data. 

 

If you have an app on your phone you can check your balance and transactions always. 

 

So even if a bank employee would steal you would know it within a day if you check or receive alerts.

[Goldbear]

1 minute ago, robblok said:

I have had much higher amounts in my kasikorn bank. Never a problem with Theft over 15 years now. I guess it depends how secure you keep your ATM card and data. 

 

If you have an app on your phone you can check your balance and transactions always. 

 

So even if a bank employee would steal you would know it within a day if you check or receive alerts.

 

I do get alerts but could I get it back if it were stolen? That would be my question. Good reminder about the alerts on the phone. Thanks.

[WorriedNoodle]

32 minutes ago, Goldbear said:

I want to have the 800,000 not accessible via the ATM card because I have heard of thefts.

I plan on doing something like you as I don't want to unknowingly default on the bank balance and get a visa extension or even overstay issue. I currently have a single KBank savings account I also use for day to day living and so far have kept an eye on the balance. I want to ask the KBank I have been with for 20 years if I can have another account just like it that I would not access at all and just keep the 800k money there all year long.

 

I wonder how hard KBank will make this for me?

[robblok]

1 minute ago, Goldbear said:

 

I do get alerts but could I get it back if it were stolen? That would be my question. Good reminder about the alerts on the phone. Thanks.

If you respond quick after an alert of course you get it back. Then its fresh and you can prove it was not you. Besides if they can steal from a thai currency account why could they not do the same from a foreign currency account. 

 

Once a bank employee is involved everything is possible. However if you respond quickly they cannot cover it up. Usually people find out far too late and evidence is hard to gather. 

[Goldbear]

1 minute ago, robblok said:

If you respond quick after an alert of course you get it back. Then its fresh and you can prove it was not you. Besides if they can steal from a thai currency account why could they not do the same from a foreign currency account. 

 

Once a bank employee is involved everything is possible. However if you respond quickly they cannot cover it up. Usually people find out far too late and evidence is hard to gather. 

 

Good point about quick response.

Foreign currency account would have no ATM associated.

[Oldie]

6 minutes ago, Goldbear said:

 

I do get alerts but could I get it back if it were stolen? That would be my question. Good reminder about the alerts on the phone. Thanks.

I don't understand your problems. Open one account for the 800,000 and others for your daily expenses. And again - it is up to you if you want to have a debit card for it. 

[stouricks]

35 minutes ago, metisdead said:

You could put 500K in a Fixed Deposit account and use the debit card linked to your current account, just keep the account linked to the debit card at a balance of 300K minimum. 

 

I've been doing that for years and no problems from immigration. 

Then why not put the full 800k in the Fixed Deposit.

[bignbad]

I have my 800k in a Bangkok bank account and have no access, apart from a bank book. has been there for a few years, very little interest, but which bank gives any better!

Easy to get a bank letter every year, withdraw 1,900baht, before asking for it to get recent statement value!

[Oldie]

1 minute ago, bignbad said:

I have my 800k in a Bangkok bank account and have no access, apart from a bank book. has been there for a few years, very little interest, but which bank gives any better!

Easy to get a bank letter every year, withdraw 1,900baht, before asking for it to get recent statement value!

No need to move 1900 Baht. Simply add or remove a small amount so that there is a new entry. I always take 100 Baht. 

[Goldbear]

3 minutes ago, Oldie said:

I don't understand your problems. Open one account for the 800,000 and others for your daily expenses. And again - it is up to you if you want to have a debit card for it. 

 

Opening another account for me isn't that easy apparently. I need documents that I don't have. I'm not established in Thailand as I've been traveling. No residence, etc. And I'm about to change provinces.

 

We will see what the lady says at Bangkok Bank when I talk to her...

[robblok]

7 minutes ago, Goldbear said:

 

Good point about quick response.

Foreign currency account would have no ATM associated.

Can i ask you why a foreign currency account ? I mean its about keeping 800k in the bank. With a foreign currency account you can dip under it without you knowing. If you now put it in thai baht you will always have that money.

 

I am sure there are Thai accounts too that have no ATM associated.

 

I still don't get it why your so worried about an ATM card. I mean if you keep your pin safe and the card safe then its safe. 

 

If a crooked bank employee steals even having no ATM card wont help you.

 

I mean if they say you took it out yourself and you respond fast there is always video image from ATM's to prove it was not you at all. 

 

I understand its a bit safer but with good personal safety it should not be much worse

[stouricks]

9 minutes ago, Oldie said:

No need to move 1900 Baht. Simply add or remove a small amount so that there is a new entry. I always take 100 Baht. 

The 1900 is to pay for his extension.

[Goldbear]

10 minutes ago, robblok said:

Can i ask you why a foreign currency account ? I mean its about keeping 800k in the bank. With a foreign currency account you can dip under it without you knowing. If you now put it in thai baht you will always have that money.

 

I am sure there are Thai accounts too that have no ATM associated.

 

I still don't get it why your so worried about an ATM card. I mean if you keep your pin safe and the card safe then its safe. 

 

If a crooked bank employee steals even having no ATM card wont help you.

 

I mean if they say you took it out yourself and you respond fast there is always video image from ATM's to prove it was not you at all. 

 

I understand its a bit safer but with good personal safety it should not be much worse

 

I was thinking about a foreign currency account just in case the baht crashed at some point. Of course the dollar could do that just as easily. It was just an idea.

 

Dealing with a bank after a theft seems like much more difficult than preventing it. I do see debit cards as being a security issue, even if slight.

[bert bloggs]

I have an app on my phone the moment money is taken out of any of my accounts ,in 2 banks i get an alert ,never a problem in 15 yrs .

[robblok]

6 minutes ago, Goldbear said:

 

I was thinking about a foreign currency account just in case the baht crashed at some point. Of course the dollar could do that just as easily. It was just an idea.

 

Dealing with a bank after a theft seems like much more difficult than preventing it. I do see debit cards as being a security issue, even if slight.

Sure you would win if the baht crashes, but so far the dollar has been sliding down for years. So if you had bet you had bet wrongly. So many expats are constantly predicting the doom of Thailand. I have been here 15 years and ever since that time they have predicted it. Guess what it never happened. 

 

I am a more play it safe kind of person, once you got the money on the bank currency risks are irrelevant as you need to keep the amount in the bank anyway. Its merely a way to secure a stay in Thailand. See it as a price you have to pay. 

 

But then again you might like risks more then I do so I cannot judge. But if a bank card is the problem then there are also accounts without an ATM card. 

[metisdead]

29 minutes ago, stouricks said:

Then why not put the full 800k in the Fixed Deposit.

 

Because I use a debit card linked to the other account. 

[Bob A Kneale]

41 minutes ago, Goldbear said:

I do get alerts but could I get it back if it were stolen? That would be my question.

Why would you think that you wouldn't get it back if staff in the bank stole it?   That would be my question.

[Bob A Kneale]

14 minutes ago, Goldbear said:

Dealing with a bank after a theft seems like much more difficult than preventing it.

Why do you keep suggesting that the bank may be planning on stealing your money?  

[stouricks]

20 minutes ago, metisdead said:

 

Because I use a debit card linked to the other account. 

With the possibilty then or accidently or fraudulently going below 300k in that account.

[Goldbear]

13 minutes ago, robblok said:

Sure you would win if the baht crashes, but so far the dollar has been sliding down for years. So if you had bet you had bet wrongly. So many expats are constantly predicting the doom of Thailand. I have been here 15 years and ever since that time they have predicted it. Guess what it never happened. 

 

I am a more play it safe kind of person, once you got the money on the bank currency risks are irrelevant as you need to keep the amount in the bank anyway. Its merely a way to secure a stay in Thailand. See it as a price you have to pay. 

 

But then again you might like risks more then I do so I cannot judge. But if a bank card is the problem then there are also accounts without an ATM card. 

 

I agree about the 800,000 baht being the price of admission. My last and only extension was via the embassy letter, which is no longer being done. I'll bring it over and forget about it. But I still want it as safe as reasonably possible.

[Goldbear]

9 minutes ago, Bob A Kneale said:

Why do you keep suggesting that the bank may be planning on stealing your money?  

 

I made no such suggestions. But thefts do happen internally and via debit cards. I assume you have seen those in the news. Not common but they happen.

[KhunBENQ]

50 minutes ago, stouricks said:

Then why not put the full 800k in the Fixed Deposit.

I always had it on a fixed deposit. No ATM card/availability.

Normal savings account for daily expenses/use.

 

From the OP it sounds as another bank should be found.

Seems a particular bad branch.

[Goldbear]

8 minutes ago, KhunBENQ said:

I always had it on a fixed deposit. No ATM card/availability.

Normal savings account for daily expenses/use.

 

From the OP it sounds as another bank should be found.

Seems a particular bad branch.

 

That seems like a good way to do it. Thanks.

[Bob A Kneale]

27 minutes ago, Goldbear said:

38 minutes ago, Bob A Kneale said:

Why do you keep suggesting that the bank may be planning on stealing your money?  

 

I made no such suggestions. " I assume you have seen those in the news. Not common but they happen.

"I made no such suggestions".

You sure did suggest untoward things could happen to customer's money, several times...

"I want to have the 800,000 not accessible via the ATM card because I have heard of thefts".

"I don't trust the lady at the bank..."

"...could I get it back if it were stolen?"

"Dealing with a bank after a theft..."

 

"But thefts do happen internally and via debit cards".

There you go again!

 

[Oldie]

52 minutes ago, Goldbear said:

 

I made no such suggestions. But thefts do happen internally and via debit cards. I assume you have seen those in the news. Not common but they happen.

Not one of my accounts has a debit card. Security and I don't want to pay for what I don't need. For me it would have only 1 purpose. If you are not able to come to Thailand for whatever reason it might be the only (easy) way to have access to your money from abroad.