Tmb Saving Account

[dave111223]

Wife and I opened up a time deposit savings account at TMB, where each month deposit 25K for 2 years, at the end you get your 600K plus ~3.5% interest.

When we opened the account they required that you also opened up a regular savings account also (we already had several saving accounts with TMB), but apparently we needed to open up a new one in order to get the time deposit account.

This account had to be opened with 1000baht in it....

well we're a year into the time deposit account, and we get letter saying that we haven't used the "other" account that we had to open up for 1 year, so they have subtract 150baht, and they will now proceed to deduct 50baht per month, because the balance is below 1000baht.

Now the penny drops as to why they make you open up the extra saving account...so that they can basically trick you out of some of the interest your earning on the other account...

Anyways i'm not very impressed with TMB for this little stunt...

[rohitsuk]

After all the adverse publicity about TMB last year and the frustration of their Singapore partnership, I am surprised that you even passed by the side they are on. Very easy to avoid the account charge just pay a bit of cash in and draw it out again preferably with internet access. You need to keep one step ahead of ANY bank khap, they are ALL crooks and the thing they do best is rob their customers.

Public executions, that's what's needed and lots of them but only for politicians and bankers and this old world would be a much happier place.

OFF WITH THEIR HEADS !

[syd barrett]

That is normal. A general savings account in Thailand is generally considered dormant after either one or two years with no movement. It is in the small print on the back page of your passbook.

Worse is the Philippine banks. I had a dormant account there for 3 years plus but I was not worried because the balance was about 400 GBP (32,000 pesos).

I went back and was told the account was closed. After more investigation I found that I had forfeited my entire balance due to non-use.

[apetley]

Last time that I went into a TMB to open a time deposit account I was refused with the answer 'for Thai people only'.

Never been back.

[syd barrett]

Last time that I went into a TMB to open a time deposit account I was refused with the answer 'for Thai people only'.

Never been back.

Better to keep away from TMB they are considered to be top of the list to go bust.

[timi2546]

Last time that I went into a TMB to open a time deposit account I was refused with the answer 'for Thai people only'.

Never been back.

Better to keep away from TMB they are considered to be top of the list to go bust.

my little savings have been to TMB, so nothing to complain.

...or am just stupid...???

[timi2546]

.... i'm not very impressed with TMB for this little stunt...

hi there !

i am not talking for tmb, just because experiences.

i have had TMB account for years and

got internetbangking in days when i wanted.

i think so far in this economical thing dont save much, like i do,

more than i canloose for about nice weather and spicy (grls) food...sounds stupid ...but.......

ok...gettin high and writing higher more smarter things. excuse me.

cheers, tim

Edited August 8, 2009 by timi2546

[dave111223]

To add frustration to the story; I went to TMB yesterday to top up this account with a few hundred baht so that i wouldn't continue to get charged 50baht per month.

They said i could not deposit any money to the account because it's now dormant, I could only go back to the branch that i opened the account at to get in unlocked and then deposit cash (and P.S. we are still going to continue charging you 50baht per month because you haven't deposited any money)

[samran]

Banks are scam artists world over. Just ask any Australian about the fees and charges there.

Anyway, I don't understand why you didn't just close it if you weren't using it?

My favourite story was when i moved to the UK. No bank would let me open an account, let alone get a credit card given I was new to the country. Natwest had a deal for new arrivals though of getting a bank account and credit card for 20 pounds a month in fees. They made out like it was our only choice, so I signed up.

About a month later I found out that it wasn't my only 'choice' and that I could switch my accounts to fee free, which i later did.

Edited August 8, 2009 by samran

[chiangmaibruce]

Last time that I went into a TMB to open a time deposit account I was refused with the answer 'for Thai people only'. Never been back.

See this thread: http://www.thaivisa.com/forum/Thai-Banks-O...it-t207309.html

Just as with the old "opening a bank account for farang" issue, you will see there is a great deal of confusion/ignorance amongst bank staff with regards to what farang are and are not permitted to do... ie. many farang told many different things by different bank staff.

To the best of my knowledge, farang who are living in Thailand CAN legally open a term deposit account with the one exception of term deposit accounts of less than six months duration.

[apetley]

Last time that I went into a TMB to open a time deposit account I was refused with the answer 'for Thai people only'. Never been back.

See this thread: http://www.thaivisa.com/forum/Thai-Banks-O...it-t207309.html

Just as with the old "opening a bank account for farang" issue, you will see there is a great deal of confusion/ignorance amongst bank staff with regards to what farang are and are not permitted to do... ie. many farang told many different things by different bank staff.

To the best of my knowledge, farang who are living in Thailand CAN legally open a term deposit account with the one exception of term deposit accounts of less than six months duration.

The best part was that the young lady at the desk was going to open an account for me until her supervisor came over, asked her what I wanted and told her that the time deposits were for Thais only. She knew it was BS but could not tell her supervisor that!

When I had left the bank she actually came after me and recommended another bank nearby that would give me a time deposit.

I ended up going to Kasikorn where I already had a savings account and opened one in minutes.

[dave111223]

Anyway, I don't understand why you didn't just close it if you weren't using it?

The account cannot be closed while the 2 year time deposit is still open, (went and tried to close it today, but couldn't)