I'm changing banks for my Retirement Visa, B 800000 in the bank method.

I'm changing locations and from Bangkok Bank to Kaskorn Bank, because we had a problem every year at Bangkok Bank and the Kasikorn bank is our local bank.

Yesterday Immigration told me how to do it and wrote a letter for the bank.

Today I went to Kasikorn Bank and they said because of new banking rules I cannot open a term deposit for my B800000 but can open a normal account.

Has anyone opened a term deposit with Kasikorn Bank?

If it can be done, how do I go about getting our local Isaan branch to create a term deposit account from my B800000?

Edited Tuesday at 08:37 AM2 days by carlyai
mistake

Define "term deposit"...do you mean a Certificate of Deposit or CD? I just know about Savings account with ATM card access.

Bangkok Bank currently advertises CDs for 4-month at 0.75% p.a. and 7-month at 0.80% p.a., with a ฿2,000 minimum. I doubt that will meet immigration which requires a savings account or verifiable income. Cheers

Edited Tuesday at 08:44 AM2 days by SiSePuede419
Won't work for immigration

8 minutes ago, SiSePuede419 said:

Define "term deposit"...do you mean a Certificate of Deposit or CD? I just know about Savings account with ATM card access.

Bangkok Bank currently advertises CDs for 4-month at 0.75% p.a. and 7-month at 0.80% p.a., with a ฿2,000 minimum. I doubt that will meet immigration which requires a savings account or verifiable income. Cheers

Yerm deposit to me means placing the money in the bank for a 1 year term.

It needs to be withdrawable, if it's locked in it isn't, some accounts allow access but charge an interest amount as a penalty of withdrawal

In Oz we refer to it as FD account as in (fixed Deposit)

In any event I have in the past had an FD account with Kasikorn.

No idea why the bank would refuse opening FD account.

Edit: note if you change banks then for next extension you will require bank statement for each account.

BTW if you close the BBL account make sure you keep the bank book.

Immigration want to see it

Aftera bit more thought, decided to leave it until next year extension.

Have my extension already and in Bangkok Bank, which is a fixed term deposit (even though it automatically rolls over every year).

Kaskhorn Bank had internet problem and couldn't pick up my passport chip details after many tries with 3 different machines.

So leave it till next year.

Thank you.

1 minute ago, carlyai said:

So leave it till next year.

Suggest if you do that then wait till the 3 month (800k) has past then transfer.

6 hours ago, carlyai said:

Today I went to Kasikorn Bank and they said because of new banking rules I cannot open a term deposit for my B800000 but can open a normal account.

Has anyone opened a term deposit with Kasikorn Bank?

If it can be done, how do I go about getting our local Isaan branch to create a term deposit account from my B800000?

I enquired just the week before last and informed I could open just an FTD account.

Opened it last week but when I opted for the 2 year FTD @0.9% told I also needed to open a Savings account for that option.
No Savings account required for the 1 year FTD account @0.75%.

I opted to still choose the 2 year FTD and opened a Savings account with 1,000BHT deposit. No App, no debit card, no charges.
It may be useful in the future.

4 hours ago, carlyai said:

Have my extension already and in Bangkok Bank, which is a fixed term deposit (even though it automatically rolls over every year).

It automatically rolls onto the same rate as the Savings account, unless you go in branch and renew for another term.

4 hours ago, carlyai said:

Kaskhorn Bank had internet problem and couldn't pick up my passport chip details after many tries with 3 different machines.

I had the same issue. I'm not sure the staff have been fully trained how to use these dedicated scanners and iPads or what to scan.
First attempts they were opening the passport onto the biodata page and I thought they were trying to scan the TMZ code (2 lines at the bottom)

When I pointed out the chip was on the front face cover, no need to open the passport, it immediately successfully read the chip.

They must have had issues with forged passports to start issuing this kind of kit.

4 minutes ago, DrJack54 said:

Suggest if you do that then wait till the 3 month (800k) has past then transfer.

At least after a year Wifey should have settled down again as she goes balistic in banks when they make all these excuses and last time at Bangkok Bank they said to come back in 2 days for the statement and bank letter...BOOM got the letters straight away but when they gave back the envelope with all our ID etc they forgot my passport so only found out at Kalasin Imm then another 120km round trip to get the passport and back to Imm.

8 hours ago, Liquorice said:

I enquired just the week before last and informed I could open just an FTD account.

Opened it last week but when I opted for the 2 year FTD @0.9% told I also needed to open a Savings account for that option.
No Savings account required for the 1 year FTD account @0.75%.

I opted to still choose the 2 year FTD and opened a Savings account with 1,000BHT deposit. No App, no debit card, no charges.
It may be useful in the future.

It automatically rolls onto the same rate as the Savings account, unless you go in branch and renew for another term.

I had the same issue. I'm not sure the staff have been fully trained how to use these dedicated scanners and iPads or what to scan.
First attempts they were opening the passport onto the biodata page and I thought they were trying to scan the TMZ code (2 lines at the bottom)

When I pointed out the chip was on the front face cover, no need to open the passport, it immediately successfully read the chip.

They must have had issues with forged passports to start issuing this kind of kit.

She tried the front face cover first and it didn't work, so I looked up Aussie passport to see where the chip was and Gemini said the picture of the cip on the passport cover just means thete is a chip inside the passport. Also in the Aussie passport it said the chip was in the hard plastic page.

Nothing worked, but at the end of 30 min of trying she said that they had had internet troubles in the morning.

Don't know about now but I had one fir 10 years now. Easy to get letter from Kasikorn bank for visa extension.

9 minutes ago, Bruce Aussie said:

Don't know about now but I had one fir 10 years now. Easy to get letter from Kasikorn bank for visa extension.

Sorry, but I have my B800000 in a Bangkok Bank term deposit which Imm accepts.

Only problem the bank is 60km away and each year we go there is always a problem. I think new staff and small branch is the problem, decided to move to our closer (15km) local Kasikhorn branch where we have our other accounts.

So I'm just trying to open another term deposit for my B800000 with Kasikhorn Bank.

Why not maximise interest return on my invested money if it can be done?

i l keep my 800k bht in a Kasikorn 12 mth Fixed Term Deposit account, in the last three yes, never had any probs... Go Kasikorn in morning, Phuket town, drop 1k in, updatd book etc, get 12 mth Statement & Letter then go Phuket Immigration. Never a problem

I have a Kasikorn savings account I usd as my daily account

54 minutes ago, Lokie said:

i l keep my 800k bht in a Kasikorn 12 mth Fixed Term Deposit account, in the last three yes, never had any probs... Go Kasikorn in morning, Phuket town, drop 1k in, updatd book etc, get 12 mth Statement & Letter then go Phuket Immigration. Never a problem

I have a Kasikorn savings account I usd as my daily account

Yes sure it can be done, just the local branch doesn't know.

What lousy interest rates! Why are the rates so poor in Thailand?

6 hours ago, SunsetT said:

What lousy interest rates! Why are the rates so poor in Thailand?

The Bank of Thailand rate is 1%, better to leave money out of Thailand