Kasikorn closed my account

[paulsingle]

I just tried to send funds to my Kasikorn account via Wise using the details already set up which I always used in the past. 

The payment was instantly returned and Wise tells me the Kasikorn account is closed. 

There has been no activity on the account for 2 years as I'm in the UK and there is a pandemic so I haven't been able to travel. 

I think I had about 10,000 baht in the account. 

Does anyone know if I will be able to reopen my account by going into Kasikorn when I get to Thailand in a couple of weeks time? 

[thaiman]

Is 2 years the time period that dormant accounts are closed?

[bbko]

Maybe download the K-Bank app and see if you can access it?

[The Hammer2021]

Bad news. The moral of this story is to keep your  account  active during prolonged  absences perhaps via Internet  banking or app.

[userabcd]

After one year of no use the account becomes dormant and you cannot use until reactivate again in Thailand.

 

Fees will be deducted if there are any remaining funds until the funds are depleted and the account probably closed.

Edited January 8, 2022 by userabcd

[Gsxrnz]

7 minutes ago, thaiman said:

Is 2 years the time period that dormant accounts are closed?

I think it's 10 years but I stand to be corrected.

 

I know people who have had relatively low balances and the annual bank fees have whittled the balance down to zero and the account closed.

 

Otherwise maybe it's a case of fraud?

Edited January 8, 2022 by Gsxrnz

[Nickelbeer]

Just one more reason that I will not keep more than a small amount in a Thai bank.  They are a law unto themselves.

[HappyExpat57]

Just spitballing here, but I recently read verification that Wise can only xfer to 3 banks in excess of 50,000 baht. Maybe Kasikorn can't accept a transfer of this ammount via wise and Wise erroneously reported the account closed?

[thaiman]

1 minute ago, The Hammer2021 said:

Bad news. The moral of this story is to keep your  account  active during prolonged  absences perhaps via Internet  banking or app.

What constitutes as inactivity?

[The Hammer2021]

1 minute ago, Nickelbeer said:

Just one more reason that I will not keep more than a small amount in a Thai bank.  They are a law unto themselves.

Yet we all keep 800 000k or put in 65k a month! The OP left his account  dead for 2 years

[The Hammer2021]

Just now, thaiman said:

What constitutes as inactivity?

Lack of activity

[userabcd]

1 minute ago, thaiman said:

What constitutes as inactivity?

Not making deposits and withdrawals in a year.

[KhunBENQ]

30 minutes ago, paulsingle said:

Does anyone know if I will be able to reopen my account by going into Kasikorn when I get to Thailand in a couple of weeks time

Quite sure. About 2012 a mate went to Kasikorn with his age old "Thai Farmers Bank" book and his account was not finally terminated. He got his new Kasikorn bank book.

And as you had 10k in the account the annual fee could not have emptied the account.

Edited January 8, 2022 by KhunBENQ

[FritsSikkink]

7 minutes ago, Nickelbeer said:

Just one more reason that I will not keep more than a small amount in a Thai bank.  They are a law unto themselves.

Start reading the fine print from your own bank

[userabcd]

10 minutes ago, Nickelbeer said:

Just one more reason that I will not keep more than a small amount in a Thai bank.  They are a law unto themselves.

Nonsense, the rules are there and have been in the news, the account holder should take responsibility for his personal finances. In Europe and elsewhere, similar dormancy rules and account closures exist.

Edited January 8, 2022 by userabcd

[Farmerslife]

According to their T&Cs they are meant to inform you if they are declaring the account dormant. 

That said, would they have had an updated contact address?

[Nickelbeer]

2 hours ago, userabcd said:

Nonsense, the rules are there and have been in the news, the account holder should take responsibiliyy for his personal finances. In Europe and elsewhere, similar dormancy rules and account closures exist.

No matter what they do, there is alway a Thai apologist ready to defend them.

[Nickelbeer]

12 minutes ago, The Hammer2021 said:

Yet we all keep 800 000k or put in 65k a month! The OP left his account  dead for 2 years

Wrong.  I use an agent and so do many others. 

[scubascuba3]

Check the T&Cs online, i doubt it's closed because you haven't used it, more likely the balance went to zero.

 

Just open a new account when you arrive, no big deal

[Chris.B]

2 years is not very long to park some cash for a rainy day. Isn't that what bank accounts are for?

[Dante99]

21 minutes ago, thaiman said:

What constitutes as inactivity?

 

20 minutes ago, userabcd said:

Not making deposits and withdrawals in a year.

Activity can be as simple as updating your bank book to get the interest put into it.  I have kept Thai bank accounts active for many years just by doing that.

 

One year no activity often causes accounts to be put on inactive status so they can not be used in the US also.  Generally easy to reactivate so can be used.

[big dendrobenaes]

34 minutes ago, bbko said:

Maybe download the K-Bank app and see if you can access it?

GOOD IDEA

[thaiman]

Just now, Dante99 said:

 

 

 

One year no activity often causes accounts to be put on inactive status so they can not be used in the US also.  Generally easy to reactivate so can be used.

Generally, how long will an account remain on "inactive" status before it is closed?  Also, after an account is closed, can the account be reactivated?

[userabcd]

2 hours ago, Nickelbeer said:

No matter what they do, there is alway a Thai apologist ready to defend them.

Nope people should take responsibility for themselves.

 

Thailand is great and everything works satisfactorily,

 

Seems some want to be nannied all the time.

[The Hammer2021]

23 minutes ago, Nickelbeer said:

Wrong.  I use an agent and so do many others. 

But your bank account remains  active as you still have money coming in and out AND the ghost 800000k deposit  put in every year by the agent. People use agents for  convenience  not poverty. They still put 65Kbht  plus through  their account  every week.

 

 

 

Edited January 8, 2022 by The Hammer2021

[DrJoy]

41 minutes ago, bbko said:

Maybe download the K-Bank app and see if you can access it?

No it wont work abroad.

1st time the app requires 3g/4g only (Thai sim)

Wont work on Wifi 1st time.

Edited January 8, 2022 by DrJoy

[The Hammer2021]

28 minutes ago, Farmerslife said:

According to their T&Cs they are meant to inform you if they are declaring the account dormant. 

That said, would they have had an updated contact address?

email address?

[Dante99]

5 minutes ago, thaiman said:

Generally, how long will an account remain on "inactive" status before it is closed?  Also, after an account is closed, can the account be reactivated?

I never bothered with all that because I learned that once a year activity was enough to keep the accounts open and active here and in USA.  No need for the rest of that, I am not writing a book.

[userabcd]

31 minutes ago, Nickelbeer said:

Wrong.  I use an agent and so do many others. 

But surely one still needs the min lump sum deposit or monthy financial deposit in their name or is some illegality being arranged with an agent to skirt around that requirement?

Edited January 8, 2022 by userabcd

[Dante99]

1 hour ago, paulsingle said:

Does anyone know if I will be able to reopen my account by going into Kasikorn when I get to Thailand in a couple of weeks time? 

Most likely it will be no problem.