Bangkok Bank: fixed deposit

Kasikorn: fixed deposit

Krungsri: timed deposit

(add to the list)

 

From own experience over many years I used fixed deposit from Bangkok Bank for "visa" extension purpose.

 

I changed method for extension away from fixed deposit since two years:

I want to get rid of Bangkok Bank as much as possible (close fixed deposit).

If moving money to other bank it would still be good to have it for extension in case of ...

 

Who uses a fixed/timed deposit from other banks for extension?

Do these deposits allow withdrawal of full balance any time (loosing interest), a requirement for extension?

 

Yes, I have read on Kasikorn and Krungsri websites, but the information is from extensive.

 

BTW

Yesterday got caught by the same catch 22 as others.

Immigration asking for bank letter (why if using 12 monthly transfers?). The balance is irrelevant! (was 3xx k).

Bangkok Bank: no way, new policy.

Bangkok Bank: run as fast as you can!

 

Is this in Pattaya? Seems all the Bangkok Bank branches there are refusing to offer the bank letter relevant to monthly transfers.  Other branches elsewhere seem to be doing so normally with scattered reports of same, but solved by going to a different branch without the stick up their...

7 minutes ago, BrandonJT said:

Is this in Pattaya? Seems all the Bangkok Bank branches there are refusing to offer the bank letter relevant to monthly transfers.  Other branches elsewhere seem to be doing so normally with scattered reports of same, but solved by going to a different branch without the stick up their...

Believe it or not: it's inconsistent and from what I got yesterday at Central Khon Kaen branch:
can not... headquarter policy... 800k blabla

I DON'T HAVE 800k TO FREEZE! (was my normal savings account for 12 monthly transfers)
My wife calmed me down as my cortisol level was rising.

Incompetent BS!

How can this be applied to an account far from 800k?

EDITED: Khon Kaen!

4 minutes ago, KhunBENQ said:

 

Bangkok Bank: run as fast as you can!

 

I stated this in an unrelated thread about Wise transfers, I collected about 4 thumbs down. I guess some people just love to have problems

 

32 minutes ago, KhunBENQ said:

Immigration asking for bank letter (why if using 12 monthly transfers?). The balance is irrelevant! (was 3xx k)

First up read your OP few times. Still confused. 

 

Regarding the "Bank Letter" that is required for using funds in bank method and Also if using Income method. 

The bank letter shows two things. 

1. Balance at time of printing 

2. Ownership of the account (ie your name only) 

 

Agree the balance is irrelevant for income method. 

 

So currently what's your situation? 

Due for extension renewal and banking with BBL using income method? 

You cannot just change banks. 

4 hours ago, DrJack54 said:

First up read your OP few times. Still confused. 

I should have separated the Bangkok Bank letter stuff from the first part.

I have my extension stamp (had a joker) and change of banks is for next year in case all else fails 

 

Unfortunately no responses to the basic question of fixed accounts at other banks.

Will likely be in Pattaya next month and hope to get info at the major branches.

 

Joker: getting nervous after reading about the BBL chaos I arranged to get an income letter by sending copies per email to the consul in Pattaya and getting the original certificate per postal mail. 

The income letter made up for getting extension stamp in less than 15 min before lunch break (speeding up a second time to the office).

Yes it's most convenient but will it be provided indefinitely?

To avoid confusion: certificate from German consul. My life did some bends.

 

I think I will continue sending 65k+ monthly but now to Kasikorn (or Krungsri).

 

 

9 minutes ago, KhunBENQ said:

Unfortunately no responses to the basic question of fixed accounts at other banks.

 

I have used a fixed account with Kasikorn before. They are accepted as long as you can withdraw at any time without capital loss.

20 minutes ago, KhunBENQ said:

Unfortunately no responses to the basic question of fixed accounts at other banks.

Fixed Term accounts are the same in principle at all Thai banks, although interest rates may vary.

You can make a withdrawal at any time during the term of the account but will lose some of the interest.

To add to Liquorice:

 

If you cannot afford to place at least 800K baht into a fixed (or regular) savings account in a Thai bank and forget about it for a year, then you probably cannot afford to retire in Thailand.

 

It's that simple.

16 minutes ago, TaoNow said:

To add to Liquorice:

 

If you cannot afford to place at least 800K baht into a fixed (or regular) savings account in a Thai bank and forget about it for a year, then you probably cannot afford to retire in Thailand.

 

It's that simple.

 Bulls.hit but thanks.

13 years of money rotting is enough when having sufficient income.

Want to use the money freely not frozen.

20 minutes ago, Liquorice said:

Fixed Term accounts are the same in principle at all Thai banks, although interest rates may vary.

You can make a withdrawal at any time during the term of the account but will lose some of the interest.

Thanks for first usable answer to the original question.

13 minutes ago, TaoNow said:

If you cannot afford to place at least 800K baht into a fixed (or regular) savings account in a Thai bank and forget about it for a year, then you probably cannot afford to retire in Thailand

Absolute nonsense. 

I've just switched to income method that requires no funds to be maintained in a Thai bank account let alone 800k 

The 800k requirement is a load of crock even moreso at the ridiculously low interest rates banks have. 

On top of that cannot even be used in emergency such as medical. 

It's a scam that we farang put up with

A good friend is currently using Kbank FD,  and has been doing so for 2 years. At CW. 

I don't know if he can withdraw the money any time, but I am pretty sure @Liquorice is right. 

11 minutes ago, Lorry said:

I don't know if he can withdraw the money any time,

Money can be withdrawn instantly from an FD account without loss of funds apart from interest.