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

[DrJoy]

On 1/17/2022 at 8:33 PM, skatewash said:

Yes, I think so.  I applied at the bank.  They had me download the SCB Easy app and create an account on that.  From that point you can apply for an ATM/Debit card using that app.  You instantly get a virtual Debit card and they send a physical ATM/Debit card in the mail (haven't received that yet).  The cost is 100 baht for applying for the card (one-time fee) and 200 baht yearly maintenance fee, so 300 baht charged up-front for the first year.  You can then use the Virtual Debit card to sign up for online banking.  You can use the SCB Easy app to scan QR codes to pay for things at shops.  I imagine you could even use ATM cardless access to withdraw money from ATMs, though I haven't tried that yet.  Of course, once the physical ATM/Debit card arrives you can certainly use that in ATM machines.  Not entirely sure how you would withdraw money from an SCB branch, but pretty sure it must involve using the SCB Easy app on your smartphone.  I've only had the account for a week or so.

Have you ever requested a statement for SCB EZ A/c ?

 

My friend informed me that he was refused a statement for EZ A/c

 

Please confirm

[skatewash]

1 hour ago, DrJoy said:

Have you ever requested a statement for SCB EZ A/c ?

 

My friend informed me that he was refused a statement for EZ A/c

 

Please confirm

I can't confirm because haven't tried, but it would not surprise me.  The EZ Saving account seems set up to avoid or eliminate customer needing to enter a branch.

 

To be clear I use Krungsri bank's Mee Tae Dai savings account which comes with a passbook to satisfy immigration retirement extension requirements, not the EZ saving account.

[gamb00ler]

1 hour ago, DrJoy said:

Have you ever requested a statement for SCB EZ A/c ?

 

My friend informed me that he was refused a statement for EZ A/c

 

Please confirm

Just in case your friend does not need a statement for Immigration purposes he can get a PDF statement via SCB's mobile app. EZ peazy!

[FarangULong]

On 1/16/2022 at 3:04 AM, Sophon said:

You only get 1.1% for the first 100k, for the remainder of the balance (up to 5 mio) you get 1% p.a.

 

Krungsri will deduct 15% tax unless you have them register your Thai tax ID on the account.

What an idiotic system. Normally (with exceptions, obviously) banks will give you more interest the more money you park there. Because it's more money for them to lend out, et cetera, and thus make money with. Not sure if that's still up to date, but they have to roughly keep 10% (or thereabouts) of deposits, on average, and can lend out the rest + get a multitude of that as a loan from their respective central/national bank, at very low interest.

 

Even in the age of low interest...

[gamb00ler]

25 minutes ago, FarangULong said:

What an idiotic system. Normally (with exceptions, obviously) banks will give you more interest the more money you park there. Because it's more money for them to lend out, et cetera, and thus make money with. Not sure if that's still up to date, but they have to roughly keep 10% (or thereabouts) of deposits, on average, and can lend out the rest + get a multitude of that as a loan from their respective central/national bank, at very low interest.

 

Even in the age of low interest...

It's weirdly common for Thai banks to offer these savings account with declining rates for larger deposits.

 

I'm guessing they are afraid of getting an excess of large deposits which would take time for them to then lend out.  In the short term they may have to pay out more interest than they would be collecting.