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Alert! Bangkok Bank new rule money seasoning

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27 minutes ago, Liquorice said:

It makes absolute common sense to have an account where funds are available for immediate withdrawal, in the case of an emergency, for example.
I merely questioned whether this is an actual requirement, or just good advice, as I can find nothing in official Immigration regulations or orders to suggest such.

 

It often stated that when applying for an extension based on Thai spouse to keep the 400K funds in the account during the under consideration period until the extension has been approved and issued. That's just advice and a recommendation that been quoted through the relevant topics on this forum for years.
There is no actual requirement to do so.

 

What's to say previous reports are simply offering sensible advice to use an account where funds are readably accessible, rather than it be a requirement, which I can find no reference to, but I'm open to being proved wrong.

Start a thread and ask for cast iron proof, maybe someome will do your work for you

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2 hours ago, harryviking said:

Never understood why anyone would use Bangkok Bank....the least pleasant bank in Thailand.....😫

Why?  I've banked with them since moving here in 2005 and never had an issue.  

46 minutes ago, Rob Browder said:

A 1-week hold would have solved that, if it were the reason. 

Though it should not affect me, as-is (money just sits there), I removed the ATM card from an account I have at another bank, and moved my "big money" over there.  My BKB accounts now hold small money - just enough I don't get hit with a monthly-fee and my daily-spending account.

Your 1 week idea wouldn't be enough of a deterrent , hence 4 months

10 minutes ago, scubascuba3 said:

Start a thread and ask for cast iron proof, maybe someome will do your work for you

Already asked in this thread.

Thanks for your contributions, though, most uninformative and unhelpful.

14 minutes ago, scubascuba3 said:

Your 1 week idea wouldn't be enough of a deterrent , hence 4 months

I don't think the agents could front dozens to hundreds of 800Ks (depending on the agent / popularity) for that time.  Just one of them in Pattaya would pack a mid-sized bank lobby with 800K-rotating customers multiple days per-week (which gives an idea of Immigration's take at ~10K per-each).  Certainly, 4 months is overkill.

 

I think this regulation was introduced for the mule-account deterrence - but then, they threw everyone in the barrel - including those with accounts open/active for years.

21 hours ago, scubascuba3 said:

The measure they've introduced will stop the current agent protocol 

No, it hasn't, and it won't. It's off topic here, so I'll leave it at that.

 

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So many posters on this and other threads seem to think that they are the only ex-pats of interest to Thai Immigration.

 

If you paid any attention to the local news, there are millions of ex-pats from Myanmar, Laos, Cambodia, China, and other Asian nationalities here at any given moment.

 

In the case of this thread, Immigration is much more concerned about the exploitation/collusion of gangs with Thai citizens who may open "mule" accounts to launder funds in amounts that would dwarf the bank accounts of Farang ex-pats with measly 400K and 800K  baht deposits.

 

Stop thinking that you are God's gift to Thailand for being here, and recognize that you are just one small minnow in the sea of ex-pats living, working, and scamming here.
 

1 hour ago, Rob Browder said:

I think this regulation was introduced for the mule-account deterrence - but then, they threw everyone in the barrel - including those with accounts open/active for years.

Exactly!

No discrimination against nationalities, although we already know which nationalities were the worst perpetrators.

22 hours ago, Liquorice said:

It's to prevent the money launderers and Mule accounts.

Follows on from problems with bank staff opening mule accounts at Sukhumvit branch NOT agents in/out transactions for extensions 

4 minutes ago, chilly07 said:

Follows on from problems with bank staff opening mule accounts at Sukhumvit branch NOT agents in/out transactions for extensions 

 

I call bull <deleted> on that. Agents are responsible for this as well

2 minutes ago, chilly07 said:

Follows on from problems with bank staff opening mule accounts at Sukhumvit branch NOT agents in/out transactions for extensions 

How do you think money laundering through mule accounts work?

Open account, transfer/deposit funds, withdraw.
Remind me again what agents do.

2 hours ago, Rob Browder said:

I think this regulation was introduced for the mule-account deterrence - but then, they threw everyone in the barrel - including those with accounts open/active for years.

Garbage, or maybe i missed the story about mule accounts being used for 800k deposits?

24 minutes ago, Liquorice said:

Exactly!

No discrimination against nationalities, although we already know which nationalities were the worst perpetrators.

Dumb to think the mule accounts were being used for the 800k deposits, which is what Bangkok 4 month thing is about

1 hour ago, JensenZ said:

No, it hasn't, and it won't. It's off topic here, so I'll leave it at that.

 

Yes it will, for Bangkok Bank in those branches enforcing it

Same for 800 K , needs to be there at least  3 months before and stay 800 K fix till 3 months after . 😅 Phuket .

8 hours ago, Muhendis said:

it is in the banks interest to keep your money for as long as possible. 

Reason for this is to swell their coffers for the sake of profits and shareholders.

Nonsense, that would be an infinitesimal swelling of it's coffers in relation to BBL's financial standing.  Bangkok Bank does not need expat accounts as much as self-aggrandising expats like to think it does.

3 hours ago, Rob Browder said:

My BKB accounts now hold small money - just enough I don't get hit with a monthly-fee

Really?  When does BBL start applying that "monthly fee"?

26 minutes ago, scubascuba3 said:

Dumb to think the mule accounts were being used for the 800k deposits, which is what Bangkok 4 month thing is about

Where does the figure of 800K appear in their notice?

3 hours ago, Liquorice said:
4 hours ago, Rob Browder said:

So, Ubon Joe's reports, and all the other reports about "must be available for immediate withdrawal of the principle," with regard to fixed-deposit accounts, was never true?   That opens up some investment options - good to hear.

It makes absolute common sense to have an account where funds are available for immediate withdrawal, in the case of an emergency, for example.

To use BBL as an example, fixed deposit accounts do allow withdrawals at any time before the "fixed" term expires, the account just does not then qualify for any interest or attracts a lower rate.

5 hours ago, harryviking said:

Never understood why anyone would use Bangkok Bank....the least pleasant bank in Thailand.....😫

What is the basis for that daft assertion?

3 minutes ago, Liquorice said:

Where does the figure of 800K appear in their notice?

are you very elderly? read the stories there have been many

1 minute ago, scubascuba3 said:

are you very elderly? read the stories there have been many

Read the factual information from the source.

 

BBK3.jpg.b3938051b41724369294b87b67e4ca7b.jpg.accc3d28ce7496313dcaef35ad33aea4.jpg

 

No mention of any specific figure mentioned. 

It could be 250K, 500K, or i.2 million.

It's the amount in the account at the time of requesting the letter for Immigration.

11 minutes ago, Liquorice said:

Read the factual information from the source.

 

BBK3.jpg.b3938051b41724369294b87b67e4ca7b.jpg.accc3d28ce7496313dcaef35ad33aea4.jpg

 

No mention of any specific figure mentioned. 

It could be 250K, 500K, or i.2 million.

It's the amount in the account at the time of requesting the letter for Immigration.

and the letter is for what? I'll tell you, for Immigration 

Has anyone had an issue with Bangkok bank using the monthly method.

7 minutes ago, scubascuba3 said:

and the letter is for what? I'll tell you, for Immigration 

It applies to any foreigner requesting a letter on the status of the account, which just includes but not necessarily solely for Immigration purposes.

2 minutes ago, Liquorice said:

It applies to any foreigner requesting a letter on the status of the account, which just includes but not necessarily solely for Immigration purposes.

what are reasons would it be useful?

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