Hi

Does anyone know if it's possible to move the 800k from a standard savings account to a higher interest account within Bangkok Bank, and for it to show in the savings book for immigration.

Thanks for any information.

Cheers

Gee

If you open a Fixed Deposit account at Bangkok Bank you get a separate account and a separate orange bankbook.

From my experience, their Fixed Deposit accounts are somewhat inconvenient. For example, you can transfer funds into the account online, but if you want to make a withdrawal or transfer funds out of the account, you have to visit the bank. And not just any branch of Bangkok Bank, but the branch where you opened the account.

Usually immigration wants to see a bankbook balance updated on the day you come to apply for an extension of stay. That could be very inconvenient to do with a Fixed Deposit account.

Paul Laew

I would seriously look at using a different bank.

As for higher interest I believe that immigration requires that the funds are immediately available and as mentioned above a bankbook with updated balance.

Mow Laew 😋

OP you need to be careful when you shift funds into another account..

Also for next extension you would need bank statement and Bank Letter for each account.

BTW: if you opt to close an account keep the cancelled bank book.

Immigration will want it

22 minutes ago, Paulaew said:

From my experience, their Fixed Deposit accounts are somewhat inconvenient. For example, you can transfer funds into the account online, but if you want to make a withdrawal or transfer funds out of the account, you have to visit the bank. And not just any branch of Bangkok Bank, but the branch where you opened the account.

From the point of securing your retirement visa money that is surely a good thing!

It means that neither you, by accident, nor a criminal, can access that account without appearing in the bank in person!

Most people just lock that 800,000Baht away year on year and get their statement (and interest) around renewal time!

2 minutes ago, scottiejohn said:

Most people just lock that 800,000Baht away year on year and get their statement (and interest) around renewal time!

True.

Most folk do maintain 800k all year round for reasons you outlined.

Referred to as "dedicated immigration account" by some.

In addition open a savings a/c for everyday use obviously with a ATM card.

41 minutes ago, johng said:

As for higher interest I believe that immigration requires that the funds are immediately available and as mentioned above a bankbook with updated balance.

Mow Laew 😋

The BKK "Fixed deposit" account IS an instant access account.

If you do access it and withdraw money before the term ends you lose the interest.

It therefore fully meets the retirement extension criteria, but at a small price given the Thai interest rates.

The upside of a "Fixed Deposit" account is that YOU must make a visit to the bank to muck it up!

It is TOTAL peace of mind if left alone!

PS; CM Immigration require an annual statement and the passbook updated but no recent transaction is required.

Edited 18 minutes ago18 min by scottiejohn