Is a 2 year fixed account acceptable for 400k non O married extension please

[RubbaJohnny]

Both scb and K plus are offering fixed accounts yielding about 9k per annum on two and quarter rates advertised so 18k over the term. They say you can withdraw immediatly by forfitting the interest.

 

Will this work for Immigration or does it have to  be my normal savings account.

 

The only other easily accesible bank is Krung Thai and with no account may be a hassle to open?

 

Thanks for any advice esp from experience, there is no TMB Bangkok, Ayuddha locally

[Mike Lister]

I'm sure it must, I've used a one year fixed deposit for many years and there is no difference in the design of the two year product.

[DrJack54]

FD account is fine.

Be aware that for extension based on marriage you only require 400k in account for 2 months prior to application for extension and also under consideration period. 

After that the funds can be use.

imo better option. 

[RubbaJohnny]

Thanks to both for a swift response

[Stocky]

Yes you can, and I do keep my extension money in a term deposit account.

 

That said the IO officer can be twitchy about the lack of 'movement', they ask you to have your passbook updated on the day of application, at least Hat Yai do, but with term deposit I can't make a transaction on the day to show a total for that day in the passbook. Some officers seem to understand this, others are a little less bright shall we say. Bringing the balance up on the banking app to show the money is there has helped, as does doing the bank letter the same day as the application. So be aware it can be problematic depending on the IO reviewing your application, and no doubt the immigration office you use.

[DrJack54]

18 minutes ago, Stocky said:

That said the IO officer can be twitchy about the lack of 'movement', they ask you to have your passbook updated on the day of application, at least Hat Yai do, but with term deposit I can't make a transaction on the day to show a total for that day in the passbook.

Do not follow.

It is possible to make a deposit on day of application. 

Most FD accounts requure minimum deposit of 1000b.

Not an issue. 

 

[IvorBiggun2]

I had my money in a Credit Union fixed term account. The first year all was fine and my IO accepted the Credit Union as being okay. Second year they refused to accept the Credit Union as a bank. They said they wanted to see movement in ones account and a fixed term Credit Union account didn't provide that service.

 

I use Buriram IO.

Edited April 1 by IvorBiggun2

[DrJack54]

7 minutes ago, IvorBiggun2 said:

I had my money in a Credit Union fixed term account. The first year all was fine and my IO accepted the Credit Union as being okay.

Surprised it was accepted. 

Funds need to be in Thai bank account 

[Stocky]

22 minutes ago, DrJack54 said:

Do not follow.

It is possible to make a deposit on day of application. 

Most FD accounts requure minimum deposit of 1000b.

Not an issue. 

 

Thanks.

I just checked on the Krungsri app and successfully added money to the term account. I hadn't realised you could do that without resetting the whole term deposit and losing whatever interest had accrued.

[DrJack54]

6 minutes ago, Stocky said:

Thanks.

I just checked on the Krungsri app and successfully added money to the term account. I hadn't realised you could do that without resetting the whole term deposit and losing whatever interest had accrued.

Yeah...I used FD for several years (CW) 

Each extension I deposited 1000b and 100b for bank letter.

Recently closed that account. 

The bank clerk had to close the original deposit and subsequent 9 other 1000 deposits separately.  

Felt bit embarrassed the work I caused. 

[arick]

22 hours ago, DrJack54 said:

FD account is fine.

Be aware that for extension based on marriage you only require 400k in account for 2 months prior to application for extension and also under consideration period. 

After that the funds can be use.

imo better option. 

What better option 

[DrJack54]

4 minutes ago, arick said:

What better option 

Thought it was obvious. 

If married you can just show 400k for two months in bank then it can be used. 

400k might cover 3-4 months.

Run it down to zero then wash repeat for next extension. 

Many use income method as it's only 40k per month. Again can be used the minute it lands in Thai bank account. 

Very sweet deal compared to retirement