Is Bank Account With Book Necessary for 800,000 THB in Bank?

[Chris.B]

There are some nice Thai bank accounts out there but they don't have bank books.

 

Is a Thai Bank Account with bank book necessary for the 800,000 THB in the bank for retirement extension?

 

 

[ubonjoe]

There is no written rule that you have to have a bank book for your account. But some immigration offices may insist you have one.

[DrJack54]

As usual UJ has it covered.

The issue is some immigration offices and or officers will not accept account with no bank book.

There have been reports stating that. 

Why make easy difficult.

 

 

[Chris.B]

16 minutes ago, DrJack54 said:

As usual UJ has it covered.

The issue is some immigration offices and or officers will not accept account with no bank book.

There have been reports stating that. 

Why make easy difficult.

 

 

because there are some accounts with better interest out there.

[DrJack54]

1 minute ago, Chris.B said:

because there are some accounts with better interest out there.

In scheme of things it's small change. 

[Enzian]

As I've reported, I got by for three years with an FCD (Foreign Currency Deposit) account that the bank refused to provide a paper book for, and then hit a wall with a particular IO. She and I effectively agreed that she would give me the stamp and I would put my foreign currency into a baht account with a paper book. The time had come.

[DUNROAMIN]

12 hours ago, Chris.B said:

because there are some accounts with better interest out there.

Man if your worried about current interest rates for immigration purposes, you must be living on a shoe string budget.

[FarangULong]

14 minutes ago, DUNROAMIN said:

Man if your worried about current interest rates for immigration purposes, you must be living on a shoe string budget.

This is exactly the mindset and "reasoning", why some people will always have more than others. Because change or not, money generated at no risk/not doing anything anyway, is still money, and with inflation also being a factor, the depreciation is less.

 

Most, but not all, wealthy people have far more appreciation for the value of even a single dollar, than those who have less. Not talking about some daddy's boy from Dubai, but in general & esp. people who created their wealth themselves...

[Skeptic7]

13 hours ago, DrJack54 said:

As usual UJ has it covered.

The issue is some immigration offices and or officers will not accept account with no bank book.

There have been reports stating that. 

Why make easy difficult.

 

 

I agree. Why do THEY make easy difficult? In nearly every aspect. 

[Tropposurfer]

26 minutes ago, DUNROAMIN said:

Man if your worried about current interest rates for immigration purposes, you must be living on a shoe string budget.

Yeah 1% or .75% is a real kick in the goolies to absorb huh lol ????

[DrJack54]

1 minute ago, Skeptic7 said:

I agree. Why do THEY make easy difficult? In nearly every aspect. 

Granted.

Something's you need to dig your heals in even if it causes you grief.

 

However reading every day the various issues with financial requirements for extensions being made difficult either by the applicant or by the immigration offier/office...my approach is to 'keep it simple'.

 

Using foreign currency accounts or accounts without a Bank Book or using one account for both immigration purposes and everyday banking etc etc is imo making easy into problematic.

 

[phetphet]

13 hours ago, Chris.B said:

because there are some accounts with better interest out there.

You can get some savings accounts that will apply interest to the 800,000, but they will still give you a passbook. You can show that to Immigration Office.

I often see the KrungSri Mee Tai Dai mentioned in threads on the subject of interest.

 

HTH

[MasterBaker]

You need a bank statement, not a book, here's regulations i got yesterday from immigration

[chuang]

31 minutes ago, FarangULong said:

This is exactly the mindset and "reasoning", why some people will always have more than others. Because change or not, money generated at no risk/not doing anything anyway, is still money, and with inflation also being a factor, the depreciation is less.

 

Most, but not all, wealthy people have far more appreciation for the value of even a single dollar, than those who have less. Not talking about some daddy's boy from Dubai, but in general & esp. people who created their wealth themselves...

So how much difference in interest rate from different banks....

[DrJack54]

5 minutes ago, MasterBaker said:

You need a bank statement, not a book, here's regulations i got yesterday from immigration

Your post is good example of what some are typing. 

 

"Bank Statement" may or may not cut it. 

It's up to the immigration officer.

My advice, be it income method or money in the bank method...

1. Have a dedicated account for immigration purposes with a Bank Book be it an FD or Savings account.

2. Avoid foreign currency account.

 

[brianthainess]

31 minutes ago, MasterBaker said:

You need a bank statement, not a book, here's regulations i got yesterday from immigration

And here is part of mine.

[bradiston]

14 hours ago, ubonjoe said:

There is no written rule that you have to have a bank book for your account. But some immigration offices may insist you have one.

I was victim of just such an office. Had a bookless account opened in Baan Chang, but IO 250k away. Had all documentation. Short story, they wouldn't accept it. So I had to return to Baan Chang, open and switch accounts to one with a book, and return with documentation, despite amazingly helpful manager of nearest branch coming to IO to attest 800k deposit etc. They can be sods if they want. Play safe.

[Digitalbanana]

1 hour ago, Tropposurfer said:

Yeah 1% or .75% is a real kick in the goolies to absorb huh lol

K-Bank only gives me 0.25% interest a year, and taxes it 15%!

[Thingamabob]

It so happens I have always been asked for my bank book at CW when applying for a retirement extension.

[khunjeff]

I keep wondering when Thailand will finally get rid of bank books. I haven't seen one for 40 years in the US, and the ones here no longer fulfill their prior purpose of serving as proof of your balance and transactions - if there's a conflict between the book and the electronic record, the book will lose every time.

[Dirk Z]

My office is CW. I have an account with Citibank, no book. Because statement and visa can not be done in one day I get my statement from the bank the day before. On the day itself I withdraw a small amount from an ATM (any) and keep the slip. This shows the balance. I attach it to the document from the bank (1 year!) and this has always been accepted.

[couchpotato]

1 hour ago, DrJack54 said:

Your post is good example of what some are typing. 

 

"Bank Statement" may or may not cut it. 

It's up to the immigration officer.

My advice, be it income method or money in the bank method...

1. Have a dedicated account for immigration purposes with a Bank Book be it an FD or Savings account.

2. Avoid foreign currency account.

 

Jomtien IO (for Ret Ext) require bankbook AND Bank Statement for previous 12 months. That's their rules. Of course we know other IO's may differ.

[brianthainess]

1 hour ago, phetphet said:

You can get some savings accounts that will apply interest to the 800,000, but they will still give you a passbook. You can show that to Immigration Office.

I often see the KrungSri Mee Tai Dai mentioned in threads on the subject of interest.

 

HTH

It is what i have. under 1 m pays 1.1 % or 8800 a year or one box of beer a month cheers  no tax to pay.

Edited January 13, 2022 by brianthainess

[Chris.B]

3 hours ago, DUNROAMIN said:

Man if your worried about current interest rates for immigration purposes, you must be living on a shoe string budget.

Does that bother you, how others live?  ????

[Chris.B]

4 hours ago, DUNROAMIN said:

Man if your worried about current interest rates for immigration purposes, you must be living on a shoe string budget.

Where do you live then? Soi Buakhao, Pattaya? In a fan room with rent 3,000 baht a month and huddled over a bottle of Chang with your room mates.  ????????

 

Edited January 13, 2022 by Chris.B

[FarangULong]

3 hours ago, chuang said:

So how much difference in interest rate from different banks....

I have no idea, I don't live in Thailand. It's probably not going to be huge, esp. being that interest is generally low these days, but it's better than nothing. Particularly if the money is just sitting there anyway. Why throw away free money, even if it's not much?

 

When I was working doing deliveries (not food, and quite a while ago), I noticed something.. those living in the run down apartments/lower end apartment blocks were always far more likely to tip me, particularly come Christmas time. They'd be the ones leaving me 10 Euros, sometimes even 20.

 

The ones with the nice houses, that are 500k-750k (Euros, not Dollarettes) a pop at minimum, didn't give me <deleted>. I only ever got money from one of those houses.

 

Don't get me wrong, a) I didn't feel entitled to anything (huge problem nowadays, seen some of these kiddos rage over getting a 20 dollar tip, for ONE delivery, claiming it's not enough...) and b) I don't think it was greed.

 

They simply didn't consider giving me even one Euro, as I was just doing my job, and because they have more appreciation for their money. It's just a euro, or ten or 20. Nothing really. But it's money that can go into an investment (obv. with other money). I learned from that, to appreciate my money more, and to always get max value out of it, when possible.

 

I'm 36, I work less than 25 hours per week and I make more money than the average person in my country.. Which has one of the highest living standards in the World.

 

Cute doggo, btw. I have a Rottweiler girl myself. Best dogs imo.

[phetphet]

2 hours ago, MasterBaker said:

You need a bank statement, not a book, here's regulations i got yesterday from immigration

I suppose it depends on your particular immigration office. Here in Samui they wanted an up to date copy AND the original passbook at my last extension..

[DrJack54]

OP, thinking much of this is off topic. 

In first couple of replies it was stated that it depends on your imagination office. 

It may even depend on which io.

If your that keen to have an account that does not provide a Bank Book then you would need to ask you immigration office. 

Don't think you even stated imm office.

Thought that would be a start. 

[Yewbzee]

6 hours ago, MasterBaker said:

You need a bank statement, not a book, here's regulations i got yesterday from immigration

 

For the record I extended my retirement visa at Jomtien last month and they did ask for my bank book at immigration. I had already given them the bank letter and statement.

 

Then again somebody could do the same today and they wont ask for it. It's a spin of the roulette wheel as always.

[arithai12]

3 hours ago, DrJack54 said:

OP, thinking much of this is off topic. 

In first couple of replies it was stated that it depends on your imagination office. 

It may even depend on which io.

If your that keen to have an account that does not provide a Bank Book then you would need to ask you immigration office. 

Don't think you even stated imm office.

Thought that would be a start. 

Mr Freud is giving you a thumb up from his tomb ????