Kasikorn savings account, minimum balance, automatic close?

[KhunBENQ]

A search didn't bring up a reliable answer.

 

A friend has two Kbank accounts.

He wants to empty one of them via internet banking and close.

Sure he could go to his branch and close it officially (with paperwork).

Due to his age and condition he would like to save this step.

 

Can an account be emptied to last satang via online transfer or is there a minimum balance to retain?

Will it then be closed automatically?

 

Or just do try and error?

[phetphet]

I think even with a minimum balance it will be closed eventually. Either because annual costs taken, such as paying for a debit card will reduce the minimum amount to zero, or through lack of use.

[Upnotover]

I don't know but personally I would simply transfer all the balance.  In 1 second he will know if that works or not.  Assuming it does then remove the 0.00 account from the app and forget about it.

[asiaexpat]

Based on my experience The Bank account can only be Closed at the branch office where it was opened. Zero amount does not close it.

[KhunBENQ]

28 minutes ago, asiaexpat said:

Based on my experience The Bank account can only be Closed at the branch office where it was opened. Zero amount does not close it.

So I tell him to reduce to 500 and when I visit him next March I will drive him to the branch and close.

[scubascuba3]

To keep an account open you need a minimum balance, so therefore emptying it will get it closed eventually, so he can do that and forget about it

[Everyman]

After one year with no activity and a balance less than 2,000 baht a monthly fee will be assessed each month until there is a negative balance at which time the account will be closed. This in addition to the yearly debit card fee. 

[GammaGlobulin]

Yes.

It gets closed.

Happened to me, once.

There are better banks....in my view.

Sometimes, one forgets how much is in a spare account, and then.....POOF!

It's gone.
And then, you gotta start over which takes over an hour at the branch while you sign a billion signatures.

Depending on if you got some beautiful clerk, or not, it can be an enjoyable experience.

 

 

[asiaexpat]

20.2 If the savings account has a balance less than the minimum balance required and determined by
the Bank, or any deposit or withdrawal thereunder has not been made for more than one year, the Depositor
agrees to pay an account maintenance fee at the rate determined by the Bank, by which the Bank is hereby
authorized by the Depositor to deduct such fee from the Depositor’s deposit account without prior notice.

 

From Kasikorn agreement, however, this does not close the account necessarily. My K-Bank account stayed dormant for 3 years while I was out of the country.