cut-off time for deposits....

[bangmai]

to get interest for that day. It's always been 2pm in the US....I was having a chat with the bank staff the other day...and my Thai is probably more limited than their English. I was getting into the nitty gritty with them on bank procedures, and that was the only unanswered question...they said midnight, but I'm not sure they knew what I meant. If you take out of one bank and put it in another on the same day can you really get interest om both? I doubt it....So when is the daily balance calculated?

[JMWPACIFIC]

Better to not fret over this kind of thing. You will most likely never get a straight forward, accurate answer at any bank here.

[PolarAttack]

I thought it was based on your daily minimum balance. In that case it could be zero in both accounts.

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[Suradit69]

I thought it was based on your daily minimum balance. In that case it could be zero in both accounts.

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According to the Bangkok Bank summary for savings accounts ...

• Interest is calculated daily and automatically transferred into your savings account every six months (June and December).

Assuming this is correct (??), it implies that interest is calculated on a daily closing balance basis so it's unlikely you would manage to earn interest twice by trying to time a transfer and, even on a fairly large amount it would only be a matter of a few satang one way or the other.

If the rate is only a percent or two annually, you'd only garner 1/365th of it for one day and would be just as likely to lose it on both as to earn it on both.

[bangmai]

At 1.5%, it's 4.1 THB per day on 100,000 thb....so if the amount gets up there to 1000000 or so, and interest rates were "normal," and you tack on some weekends and holidays; it is real money.