Bangkok Bank USD Fixed Deposit

[Isan Farang]

Just checked on BB website and the FD interest rate seems to have taken a big jump, i am wandering if depositing saving funds from HSBC offshore to open this account is going to cause an issue with the supposed new tax reporting thats floating around

 

• Deposit Terms and Interest Rates
  • USD 4- months Fixed Deposit Account, interest rate is 4.35% p.a.
  • USD 7- months Fixed Deposit Account, interest rate is 4.20% p.a.
• Promotion campaign is effective from February 3, 2025 – May 7, 2025.

[jeffandgop]

10 hours ago, Isan Farang said:

Just checked on BB website and the FD interest rate seems to have taken a big jump, i am wandering if depositing saving funds from HSBC offshore to open this account is going to cause an issue with the supposed new tax reporting thats floating around

 

• Deposit Terms and Interest Rates
  • USD 4- months Fixed Deposit Account, interest rate is 4.35% p.a.
  • USD 7- months Fixed Deposit Account, interest rate is 4.20% p.a.
• Promotion campaign is effective from February 3, 2025 – May 7, 2025.

Pls post the link.  I am not finding a fixed deposit rate above 1.80%

[TheAppletons]

OP must be referring to this:

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Fixed-Extra

 

 

[jeffandgop]

20 hours ago, TheAppletons said:

OP must be referring to this:

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Fixed-Extra

 

 

Thank you.

[Kerryd]

READ the fine print.
 

• Deposit Terms and Interest Rates
• USD 4- months Fixed Deposit Account, interest rate is 4.35% p.a.
• USD 7- months Fixed Deposit Account, interest rate is 4.20% p.a.

 

• At maturity, the Bank will automatically roll over the deposit to a three-month fixed term deposit using the interest rate available at that time under the Bank’s conditions, provided that a depositor has not withdrawn any money from the account, or issued any subsequent instructions.

In other words, at the end of the 4 or 7 month period, the interest rate will drop to the regular rate for an FCD (or other Fixed Term account).
You have to deposit a minimum of $10,000 and it has to stay in the account for the entire period or you lose the interest for that period.

It's the same deal they often make with regular Fixed Term accounts. They had plans that were 3, 4 or 6 months long and offered higher interest rates but when the period ended, the rate dropped to the regular rate for that kind of account.
 

[pattayamick]

I deposited in US$ on a 7 month deal. Not available in all branches. Only thing I don’t like is, that instead of a bank deposit book like I got in Krung Thai bank, they will give you a deposit certificate. Just more pieces of paper to keep track on. 

[kimothai]

My question is this:  If I take $10,000 cash (new money quality that can be exchanged anywhere) to Bangkok Bank and deposit for a 4-month term at 4.35% and then close the account at termination (4 months) and withdraw the money will I receive USD that is the same quality that I originally deposited (new money quality that can be exchanged anywhere)?  

[CallumWK]

I believe you will receive Thai baht at the exchange rate of the day

[new2here]

46 minutes ago, kimothai said:

My question is this:  If I take $10,000 cash (new money quality that can be exchanged anywhere) to Bangkok Bank and deposit for a 4-month term at 4.35% and then close the account at termination (4 months) and withdraw the money will I receive USD that is the same quality that I originally deposited (new money quality that can be exchanged anywhere)?  

i had this account type in 2023 and when it matured i had a choice; USD or THB (at that days rate) I chose USD and was given notes in acceptable shape .. you can always politely refuse/request a different note if you feel that a specific one won’t be exchangeable later on..  i’ve never known any bank to refuse a reasonable request at the time of exchange 

[Purdey]

What is the most Thai baht I can exchange for dollars at an exchange counter?

$10,000 is just ฿336,700...

[RocketDog]

3 hours ago, CallumWK said:

I believe you will receive Thai baht at the exchange rate of the day

Probably correct and then they rape you on the forex rate.

Too much trouble for a few months of higher interest.

[kimothai]

13 hours ago, new2here said:

i had this account type in 2023 and when it matured i had a choice; USD or THB (at that days rate) I chose USD and was given notes in acceptable shape .. you can always politely refuse/request a different note if you feel that a specific one won’t be exchangeable later on..  i’ve never known any bank to refuse a reasonable request at the time of exchange 

thank you for reply