Extension of Stay - K-Bank Refuses to Update Passbook on Fixed Deposit Acct

[Pattaya46]

[KB] On everything else they've have been very good.

So, I will continue to use them in that way.

However, large fixed deposits are going elsewhere...

Wouah! 2 pages since my message yesterday... but for what ?

I just don't understand why you want a "special" letter for your case ?

Many people use Fixed Deposit Account for Immigration, and many in KasikornBank.

As I said before, Jomtien Immigration seems satisfied with the "standard letter"

that KB give them. Why trying to get a "special" one ?

Go with the letter and copies of your several books,

just be sure you updated (only) the Saving Account book before,

and it should be fine

[Ratsima]

The only reason for the "special" letter is that Immigration told us that we needed one when we contacted them by phone and explained the situation.

I'm waiting at Immigration now.

[sexy man]

just draw 100 baht out of it. you can and you just lose the interest on the 100 baht. then the bankbook will show latest ammount.

[Tony Rabbott]

The only reason for the "special" letter is that Immigration told us that we needed one when we contacted them by phone and explained the situation.

I'm waiting at Immigration now.

Good luck

[carbine1125]

I can't make deposits into this account. Fixed is fixed.

Advice anyone?

Have you tried the machine at the ATM? I use the SCB one to update my book.

[Alwyn]

I can't make deposits into this account. Fixed is fixed.

Advice anyone?

Can you not use the machine for updating?

[GeorgeO]

I can't make deposits into this account. Fixed is fixed.

Advice anyone?

Go to another branch and ask them to update it... I have had my Bangkok Bank passbooks updated at various branches; I'm sure that you could do the same with K-Bank.

[jacko45k]

I just stick my book in the Passbook Update machine!

[Ratsima]

Normally I do Immigration business by myself, but this time my wife came along. I'm glad she did. I wouldn't have been able to do it without her.

Coincidentally, the officer who helped us was the same one my wife spoke to yesterday and who suggested the special letter from the bank. So, she was OK with it. However, before the boss would sign the extension of stay she had a very long conversation about the account with my wife and the officer. In the end, and after reviewing the "special" letter, she was convinced.

So, I'm done for the year. Extension granted.

Here's what I learned:

• If you are going to use a fixed deposit account for an extension of stay, make sure that the account is opened at least three months before your current extension expires and that the account matures after your extension expires.
• Do not use K-Bank until they figure out how to update a passbook on an account with no transactions.

Special note to all of you who keep suggesting that I update the passbook at a different branch or at a machine:

• This is a software problem. No K-Bank branch can update the passbook because the machine spits out the passbook without printing anything if there has been no transactions since the last update. Maybe a knowledgeable K-Bank employee can somehow override this, but no one at the branch at The Mall, Korat, could figure it out.
• K-Bank fixed-deposit passbooks are too wide to fit in the normal K-Bank passbook update machines. And, yes, I tried.

Both of the above points have been made repeatedly in the thread. However, as we all know, many people respond to long threads without bothering to see if what they are posting or suggesting has already been said.

Thanks anyway for trying to help.

[RedQualia]

Sounds similar to a problem I had last time. Had the bank letter, but immigration insisted that the bank book be updated within the past seven days or some such. So off I went to Bank of Ayudhya. They, too, couldn't update the book, simply because there was no new information to be posted into the book. I ended up doing a deposit of 500 Baht, and that was sufficient to trigger the update.

So... In my case, for the one bank account in question, I have two timed deposits. One has a duration of 11 months. Another has a duration of five months. Different interest rates. So, again in my case, it is the deposits that are timed, and not the account. I can deposit and withdraw all day, every day, but can't go below the amounts of the timed deposits until the time is up, at which case I can either roll it over or take it out, whatever.

This is not the way I would usually think about timed deposits/accounts, but it's the way it works for me at Bank of Ayudhya. And that's OK. Makes sense. I understand.

From what I've read here, no attempt has been made to make a deposit into the account. It seems instead, that it's simply assumed one cannot. And I understand that assumption. Only it doesn't work that way for me. I recommend you at least try to make a deposit into that account. Worked for me.

Good luck!

[Estrada]

I've never had a fixed deposit account here... So I don't know if this would work...

But, what about trying your passbook in one of the K-Bank passbook update machines and see if that will print a current account balance?

The passbook update only works for savings accounts not for fixed deposit accounts. I had absolutely no trouble last year updating my fixed term deposit passbook on the day I had to visit Immigration. Only problem I had was getting the Bank Letter. They only gave me a statement but that was accepted by immigration. Sounds like next time you need a new bank.

I can also get a print out of my fixed deposit account balance at any time via my online account, although they will not accept it as their rules say the passbook must be updated on the day you visit immigration.

[lopburi3]

matures after your extension expires

Actually there should not be any such requirement anywhere so if that is true it must be local to that office or a misunderstanding. The only requirement is that it be in account prior to application (and for safety I would keep during 30 day review if marriage). This is not designed as a bond type requirement as in the Philippines but as proof of funds for your use during the coming year.

[Estrada]

Sounds similar to a problem I had last time. Had the bank letter, but immigration insisted that the bank book be updated within the past seven days or some such. So off I went to Bank of Ayudhya. They, too, couldn't update the book, simply because there was no new information to be posted into the book. I ended up doing a deposit of 500 Baht, and that was sufficient to trigger the update.

So... In my case, for the one bank account in question, I have two timed deposits. One has a duration of 11 months. Another has a duration of five months. Different interest rates. So, again in my case, it is the deposits that are timed, and not the account. I can deposit and withdraw all day, every day, but can't go below the amounts of the timed deposits until the time is up, at which case I can either roll it over or take it out, whatever.

This is not the way I would usually think about timed deposits/accounts, but it's the way it works for me at Bank of Ayudhya. And that's OK. Makes sense. I understand.

From what I've read here, no attempt has been made to make a deposit into the account. It seems instead, that it's simply assumed one cannot. And I understand that assumption. Only it doesn't work that way for me. I recommend you at least try to make a deposit into that account. Worked for me.

Good luck!

With Bangkok Bank I can get an update no problem. However, for some illogical T.I.T. reasoning, I have to get a new book for each deposit, so depositing B500 to trigger an update is impossible. In this world where we are trying to conserve trees and the environment why do they insist on throwing away an almost empty passbook everytime you want to roll over the B800,000?

[Ratsima]

matures after your extension expires

Actually there should not be any such requirement anywhere so if that is true it must be local to that office or a misunderstanding. The only requirement is that it be in account prior to application (and for safety I would keep during 30 day review if marriage). This is not designed as a bond type requirement as in the Philippines but as proof of funds for your use during the coming year.

I didn't say it was a requirement. The reason for my suggesting it is that if the account matures before your current extension expires then you're going to have to either put it in a different account or, as is the case with K-Bank, open a new fixed deposit account with the same account number. This, in addition to being unable to update the passbook, is what caused me problems. Immigration looked at the current fixed deposit account and didn't like the fact that the money was in there for less than three months, in spite of the fact that the previous fixed deposit account had the same account number and was in the same passbook.

In other words, they didn't like the discontinuity during the three months before the extension expired.

[Beerburi]

I had the exact same situation as the op on my last retirement extension. I have one year fixed term deposit at Kbank and could not get passbook update by making a deposit but was able to withdraw 1000 baht to enable passbook update. I lose the interest on 1000 baht but the interest rate on the remaining balance is intact with original maturity date, all printed out in the update.

So I wouldn't blow off Kbank entirely, but next year I'll only withdraw 100 baht.

[oneday]

Just a thought, what do you do if immigration ask what you have been living on when you can't take money out? Wouldn't it be better to show the account that you use regularly?

I have always been under the assumption you could NOT use a fixed deposit for your financial requirements at immigration. It's interesting that that seems to not be true.

I don't see why you cannot make a deposit. I do it quite often.

It just shows a different deposit with the date of interest being paid.

There is a total at the bottom.

Unless KB have different fixed Accounts to other banks

OK, listen carefully. This type of account cannot be added to. I know, I have two of them at K-Bank. It is a FIXED deposit for a FIXED period on a FIXED amount. You cannot withdraw or deposit into this account. The reason is quite simple. You are putting this money into an account at a given interest rate that is ONLY good for 1 week. You must lock in during that one week. The week goes from Tuesday to the following Monday at 3pm. At that time the interest rate changes and the periods of deposit change. So you cannot add money because the interest rate has changed.

You get a bank book with one line in it showing your initial deposit. You will never have another update to that book for the entire period you have deposited the money until the day it matures. When it matures they roll the money over into your normal passbook and the FIXED deposit book is no longer used. It is voided.

There are many other types of accounts with reasonably good interest rates and those accounts can be added to and withdrawn from, but NOT THIS ONE.

k bank just lost a customer i would hope

On everything else they've have been very good.

It took years for Bangkok Bank to give me online banking.

With K-Bank I had it the day I opened the account. And, their online banking is quite good.

So, I will continue to use them in that way.

However, large fixed deposits are going elsewhere....

Not sure why it took so long for you to get online banking with Bangkok Bank. Their only requirement is you have to have a one year visa. I got my ID in an email within a day or two of asking and the password in a physical letter about a week later. My main bank is Bangkok Bank, but I'm doing all my FIXED DEPOSIT accounts at either K-Bank or SCB because they seem to be the top two banks with consistently high interest rates. Bangkok Bank is almost always lower than them.

Do what I do...or not. You now know how to make this work for you, especially with your wife helping, so maybe you don't need to do it my way, which is better because your way gets you more money.

As soon as I've gotten my extension of stay I move my money from my normal Bangkok Bank account to a FIXED DEPOSIT account in either the K-Bank or SCB. I time it so enough money matures 3 months before my extension of stay and then I move that money back to my Bangkok account. I move only enough money to make 800,000+ to use to extend my stay and then I start the process all over again.

Edited September 12, 2013 by oneday

[HUAHIN62]

Ask for a statement, problem solved.

[Pib]

I did my yearly retirement extension at Bangkok immigration this morning. First went to the Bangkok Bank branch downstairs in the govt building and got a bank letter. When I handed the clerk my fixed account passbook the very first thing she did was stick it in a machine to update it...then she prepared the letter....collected Bt100 for the letter....I was out the door in approx. 10 minutes with the bank letter and copy of the passbook. Up to immigration I went.

Had to wait approx. 20 minutes for my immigration queue number to be called....was with the first immigration officer for about 10 minutes as she reviewed my paper work which was one copy of the TM7 application form with a 1 year old picture, 1 copy of key pages of passport, copy of last 90 day report, copy of arrival card, and finally the bank letter plus copy of passbook. She processed everything, entered the new extension stamp in my passport and then referred me over to a supervisor for the final review/approval of my application...all standard procedure...been doing it each year...took about 3 minutes for the supervisor to do her thing. Done...finished....retirement extension of stay for another year.

Then went back down stairs to the bank to rollover my fixed account which had very recently matured. Rolled over/opened another fixed account and this time instead of rolling over the entire amount from the old account to the new account in "one" deposit, I broke it up into two deposits roughtly equal in amount...each deposit has the same maturity date....did this in case I ever have to dip into some of this money for an emergency...by having two deposits I can withdraw money from just one of the deposits thereby only affecting the interest on that one deposit and the other deposit is not impacted/I won't loose any interest....I could have broken it up into more deposits but I figure 2 is enough. Took about 15 minutes to do this with the bank....out the door...back home now in my shorts. The drive time to and from immigration took almost 3 times longer than the time I had to spend with immigration and the bank. Easy. Your results may vary.

[oneday]

I had the exact same situation as the op on my last retirement extension. I have one year fixed term deposit at Kbank and could not get passbook update by making a deposit but was able to withdraw 1000 baht to enable passbook update. I lose the interest on 1000 baht but the interest rate on the remaining balance is intact with original maturity date, all printed out in the update.

So I wouldn't blow off Kbank entirely, but next year I'll only withdraw 100 baht.

I had assumed on my two FIXED deposit accounts that you cannot withdraw any money at all or you lose all the interest and you have to start over. I'll have to ask if this is possible on my particular accounts. It would be good to know. Since they DO NOT pay the interest until it matures it makes sense they could and should still pay the interest, but only on the existing balance...interesting. This would have made things easier for the OP.

Isn't it just like Thailand that not one teller could suggest this to the OP, assuming it's true.

[oneday]

I did my yearly retirement extension at Bangkok immigration this morning. First went to the Bangkok Bank branch downstairs in the govt building and got a bank letter. When I handed the clerk my fixed account passbook the very first thing she did was stick it in a machine to update it...then she prepared the letter....collected Bt100 for the letter....I was out the door in approx. 10 minutes with the bank letter and copy of the passbook. Up to immigration I went.

Had to wait approx. 20 minutes for my immigration queue number to be called....was with the first immigration officer for about 10 minutes as she reviewed my paper work which was one copy of the TM7 application form with a 1 year old picture, 1 copy of key pages of passport, copy of last 90 day report, copy of arrival card, and finally the bank letter plus copy of passbook. She processed everything, entered the new extension stamp in my passport and then referred me over to a supervisor for the final review/approval of my application...all standard procedure...been doing it each year...took about 3 minutes for the supervisor to do her thing. Done...finished....retirement extension of stay for another year.

Then went back down stairs to the bank to rollover my fixed account which had very recently matured. Rolled over/opened another fixed account and this time instead of rolling over the entire amount from the old account to the new account in "one" deposit, I broke it up into two deposits roughtly equal in amount...each deposit has the same maturity date....did this in case I ever have to dip into some of this money for an emergency...by having two deposits I can withdraw money from just one of the deposits thereby only affecting the interest on that one deposit and the other deposit is not impacted/I won't loose any interest....I could have broken it up into more deposits but I figure 2 is enough. Took about 15 minutes to do this with the bank....out the door...back home now in my shorts. The drive time to and from immigration took almost 3 times longer than the time I had to spend with immigration and the bank. Easy. Your results may vary.

There seem to be two differences between Bangkok Bank and the K-Bank. The K-Bank won't update his book no matter what. This has been stated many times in this thread. The second is, and I know this as fact as I have the same account the OP does, once the account matures the bank automatically rolls the money over into the normal passbook account they require you to have when you opened the FIXED account. From what you write it appears once your account has matured you have to go in and roll it over whereas it's automatic at the K-Bank.

Now maybe he can use both books together to show continuity...not sure that's been discussed here. However, his problem was that the FIXED account was still in its maturity period and he couldn't get the book updated.

[mickba]

Just a thought, what do you do if immigration ask what you have been living on when you can't take money out? Wouldn't it be better to show the account that you use regularly?

I have always been under the assumption you could NOT use a fixed deposit for your financial requirements at immigration.......................

Perhaps things changed or perhaps there are different interpretations by different officers.

I was specifically told at Pattaya Immigration 2-3 years ago that a Fixed Deposit account wasn't acceptable.

They said they don't count because the funds are not available and even last week they took copies of the activity in my Current/Savings account over the preceding months.

.

[lopburi3]

A fixed deposit account funds are available with only loss of interest so normally is accepted - what are not accepted as the fixed deposit bond/investment accounts where the funds indeed are not guaranteed to be available. But should always confirm with office you plan to use for there view to help avoid issues.

[Pib]

There seem to be two differences between Bangkok Bank and the K-Bank. The K-Bank won't update his book no matter what. This has been stated many times in this thread. The second is, and I know this as fact as I have the same account the OP does, once the account matures the bank automatically rolls the money over into the normal passbook account they require you to have when you opened the FIXED account. From what you write it appears once your account has matured you have to go in and roll it over whereas it's automatic at the K-Bank.

Now maybe he can use both books together to show continuity...not sure that's been discussed here. However, his problem was that the FIXED account was still in its maturity period and he couldn't get the book updated.

When my Bangkok Bank fixed account matures like say I had a 4, 10, 12, 15, or whatever months fixed account which matured, when it a matures it automatically converts to a 3 month fixed term earning the 3 month term rate in affect at the time, but no change in the account number/issue of a new passbook. Also, you do not need another regular savings account to open a fixed savings account. But Bangkok Bank has several types of fixed accounts with different rules, just like other Thai banks...lot of different types of "fixed accounts" with different rules. For example/info, see this Bangkok Bank Link which gets you into the area talking about some of Bangkok Bank's fixed accounts...and it's in English as good as any western bank.

[khunPer]

Gee...switch to a Bangkok Bank fixed account after you get through this mess. On the day Bangkok Bank issues your bank letter which says you have X-amount in the account they also update the passbook to reflect the current date...or that is the way it has always worked out for me. Or, you can just update the passbook yourself by using a passbook update machine since the Bangkok Bank fixed account passbooks are the same size as regular savings accounts passbooks. In fact, I went and updated my Bangkok Bank fixed account passbook in a machine about an hour ago since I'm going to apply for my yearly retirement extension tomorrow or Friday...there was no change in the balance amount from my previous balance put it still printed a new entry with today's date. Additionally, the passbook will be updated by the bank when they issue the bank letter...or that's the way it has always happened for me...but as mentioned I'm with Bangkok Bank which apparently does things a little different from K-bank.

If the period is still open to where you can make deposits to the fixed account and you can make a "small" deposit then just go that route to get an update. But I expect the period you can make additional deposits may have passed and/or any additional deposit may require a LARGE deposit...like maybe a minimum of Bt200K which is typical for many fixed accounts...different minimum amounts for different fixed accounts.

If K-bank's letter is the same as Bangkok Bank's letter the letter will state the amount in the account, but I realize immigration officers many times want to see a fresh update in the passbook also. But maybe your immigration office knows K-bank don't do a update unless the amount has changed...then again, maybe not. Good luck.

I also use Bangkok Bank for my Visa Extension deposit. Never had a problem and always get both updated book(s) and one letter confirming the bank status – even if splitted over more than one account/book, it is all in the same one letter and one fee only. I also use fixed accounts, as they give better interest – I have my Visa extension deposit splitted on two or three accounts, for maximum interest from various fixed promotions, which in periodes may be 4+ percent pa. – and Bangkok Bank can update the books (maybe something to do with the Data-systen in the OP's bank, so they cannot print an update line).

I also use SCB, but not for Visa extion deposit, as they charge more for an update letter and make one separte letter for each account.

Perhabs the OP shall check with Bangkok Bank, and move if they can manage his deposit better.

[Pib]

A fixed deposit account funds are available with only loss of interest so normally is accepted - what are not accepted as the fixed deposit bond/investment accounts where the funds indeed are not guaranteed to be available. But should always confirm with office you plan to use for there view to help avoid issues.

What lopburi3 said^^^^.

Funds are "immediately" available from most fixed savings accounts...it's just you will usually lose very significant interest by withdrawing the funds before the account's maturity date...even if you withdraw one baht from a million baht fixed account you have probably just blew the higher interest on the entire one million baht amount and you will end up only getting regular savings account interest or maybe the 3 month term rate if you are lucky...and for some fixed account types it will also trigger closure of the account.

If a person is unsure about the rules and conditions of the fixed savings account (or any kind of account) they are opening, they probably shouldn't be opening the account. Be sure you see the fixed account rules in a language you understand. Preaching to the choir I know.

[Suradit69]

looking at my old pass books [bkk bank] when i have gone for the letter for my ext.due on the 10th jan.it prints on the pass books as,the date 3jan. brought forward the balance.

next ext.i will be useing my t.g.s.b. fixed acc.which doesnt mature till the 17th.jan.so lets hope they have more sense then k.k.b.

otherwise i will be in the same boat as ratsima..

When you go for the letter at a Bangkok Bank branch, for a normal savings account, the manager (or whoever) updates the bankbook and then writes the letter so that the dates and balances are the same. Bangkok Bank's machines provide a new entry with the current date even if the balance has not changed. This is what Immigrations want to see,

In this case K-bank operates differently, at least as far as a fixed deposit account is concerned and, apparently, the bank book is not the same size as a normal savings account so shoving it in the update machine doesn't work and/or if there have been no new transactions it'll just spit the book back out.

It's a Catch-22 of sorts because even if he withdraws the money and loses the interest, the 2 month or 3 month seasoning of funds will not be easy to verify because of the movement of funds. Looks like a letter of income verified by the applicant's embassy [plus info from whatever bank account the applicant uses for regular living expenses: if needed] will be the way to go this time around. The extra expense will probably eat up a lot of the higher interest paid for the fixed deposit account.

I guess the lesson to be learned for the future, if you're dead set on using a fixed account, make sure the interest payment date coincides with when you'll be applying for your renewal even if it means losing a percent or two in interest or keep the needed amount in a common savings account.

[Lite Beer]

OK, listen carefully. This type of account cannot be added to. I know, I have two of them at K-Bank. It is a FIXED deposit for a FIXED period on a FIXED amount. You cannot withdraw or deposit into this account. The reason is quite simple. You are putting this money into an account at a given interest rate that is ONLY good for 1 week. You must lock in during that one week. The week goes from Tuesday to the following Monday at 3pm. At that time the interest rate changes and the periods of deposit change. So you cannot add money because the interest rate has changed.

You get a bank book with one line in it showing your initial deposit. You will never have another update to that book for the entire period you have deposited the money until the day it matures. When it matures they roll the money over into your normal passbook and the FIXED deposit book is no longer used. It is voided.

There are many other types of accounts with reasonably good interest rates and those accounts can be added to and withdrawn from, but NOT THIS ONE.

I can only talk about SCB Fixed Accounts.

Withdraw some cash and you lose the interest on the amount withdrawn only.

Deposit some cash and they will update the book and show the total amount. The book will show the appropriate interest rate on the fresh deposit. As you can see on the scanned page I posted earlier.

Perhaps I am lucky I chose SCB and not K Bank.

[Pib]

What the name of the K-bank Fixed Savings account you guys are talking about? Got a link to the K-bank webpage talking specifically about it, rules, conditions, etc.? Thanks.

I had the exact same situation as the op on my last retirement extension. I have one year fixed term deposit at Kbank and could not get passbook update by making a deposit but was able to withdraw 1000 baht to enable passbook update. I lose the interest on 1000 baht but the interest rate on the remaining balance is intact with original maturity date, all printed out in the update.

So I wouldn't blow off Kbank entirely, but next year I'll only withdraw 100 baht.

just draw 100 baht out of it. you can and you just lose the interest on the 100 baht. then the bankbook will show latest ammount.

[MoTewada]

Option 1: I plan to simply ask KBank to add a sentence to their standard letter certifying the balance for immigration, stating that updates on Time Deposit books cannot be done unless money is deposited or withdrawn.

Option 2: It that is not enough to satisfy immigration, a withdrawal of 1000 bht on the day of the extension application would certainly. trigger an update.

[realenglish1]

I really would not worry about it Go to immigration do the paper work and If Immigration then asks you for an updated deposit tell them K bank will not do it Then if they insist they go back to K bank and tell them the problem I am sure both entities will work with you

Remember immigration and K bank are made up of people and they really do understand the problems that occure from time to time