Thai Bank Account Options

[bangon04]

Recently i went shopping in the Sukhumvit area for a bank account. I will soon be eligible for my retirement visa, but so far I am only on visa exemptions.

I got various answers, but generally I do not qualify for a current account because i am not resident. Fair enough, no problems with this one.

I do not qualify for an interest-bearing savings account because i am not a resident. Is this true? Do they really expect falang to save with them at the wonderful 0% interest rate?

When the time comes to send my 800000 baht for the privilege of getting a retirement visa they will not only charge me commission for handling my money but give me no interest?

Can someone enlighten me as to which account will bear at least some interest? After all it is my money and I am not asking for any credit facilities of any sort, just an ATM card. I understand that the FBA is designed to protect Thai banks from the need to be competitive, but just how do they attract customers at 0% interest?

[Lite Beer]

Recently i went shopping in the Sukhumvit area for a bank account. I will soon be eligible for my retirement visa, but so far I am only on visa exemptions.

I got various answers, but generally I do not qualify for a current account because i am not resident. Fair enough, no problems with this one.

I do not qualify for an interest-bearing savings account because i am not a resident. Is this true? Do they really expect falang to save with them at the wonderful 0% interest rate?

When the time comes to send my 800000 baht for the privilege of getting a retirement visa they will not only charge me commission for handling my money but give me no interest?

Can someone enlighten me as to which account will bear at least some interest? After all it is my money and I am not asking for any credit facilities of any sort, just an ATM card. I understand that the FBA is designed to protect Thai banks from the need to be competitive, but just how do they attract customers at 0% interest?

Most banks will give you a savings account with 0.75% interest.

Most of them will also give you a fixed rate account with around 2% interest.

You will have to do some more leg work.

Try Kasikorn or SCB. They seem to be the more helpful.

[apetley]

Just gone up in my local Kasikorn branch is a sign with their interest rates on.

The bottom line reads.......Non resident 0%.

I queried what their definition of resident was.

WP was the answer.

I'm retired I said.

Sorry can't help.

Then I showed them my fixed rate time deposit KASIKORN bank book!!!

Blank look, then a smile but no answer.

Called a supervisor.

"What visa do you have sir?" says supervisor.

Non o says I.

"Thats ok" says supervisor.

And the moral is 'some bank staff know what they're talking about and others don't'.

[Savanna]

With a double entry tourist visa marked with "USED" on it I managed to get a bank account today at Bangkok Bank. The lady first told me I could not get one because I dont have a work permit, I just politely asked again for her to open me an account, then she looked at my passport and told me I cant get one because I am on a tourist visa, I then said to her I am in the process of applying for a non-immigrant visa but cannot do that unless I have a bank account with money in... she looked a bit confused but then opened the bank account. I was also told that I would receive 0.75% interest... I have no intention of actually putting in 500000bht for a dependant on a ED visa but at least I have my bank account. Moral of the story is to play "the game"....