Where would you put your money if?

[khunPer]

OP, I use Mutual Funds with bonds – the banks here calls it a Fund Book – they normally gives a slightly higher interest than 12-month fixed deposit, and there is no 15 percent withdrawal tax; the deposit is accumulating (i.e. don't pay out interest or dividend). It's an investment, so it involves a risk factor, but normally in the low end. Kasikorn has a K-Cbonds (Company bonds) that use to give a reasonable interest; but most of the banks have similar products. You can find information and historically graphs on the banks Assets Management Internet pages, the two I use are Kasikorn and SCB.

When you need to withdraw from the Fund Book, you just ask the bank to sell for the amount you want in cash. The following bank-day you cash money will be available – you dont tie your money for a certain period of time, nor do you loose interest if you withdraw before term-end.

For your 800,000 proof of funds for Visa-extension, you need to keep them in a fixed bank deposit, as Immigration don't accept investments with a risk, like a so-called Fund Book. Often you can shop around for a campaign offer giving you slightly higher interest than the average 12-month fixed account – a few month ago, when I shopped, it was around 1.85 percent per annum, and I think it's still the best offer. If you don't wish to spend time shopping around, just leave the fund in 3-month, 6-month or 12-month fixed, you should be able to gain up to around 1.50 percent p.a. minus 15 percent withholding tax.

Edited March 28, 2016 by khunPer

[laislica]

I think he just wants to brag

Bragging about what; being old and having a woman who cannot support herself, or he bought his woman some property and has $57k left, but needs almost half of it every year to stay in Thailand because his pension isn't enough for the income method?

I think he sounds like a nice old guy with limited means who wants to make sure his woman is taken care of after he is gone.

Thank you, spot on.

To answer some points that have been mentioned:

My pensions are more than sufficient to meet the 65,000 Baht monthly income, but it is an expensive proof letter, almost 3,000Baht and a trip to Bangkok.

All money I bring to Thailand Stays in Thailand.

I do have internet online banking and it is very useful.

KK do offer cheap insurance but the age limit is 70 so maybe the same for the insurance account mentioned?

The suggestion to move some money into a fixed term is interesting but it must not "roll over" during the 90 days proof of funds period.

Are any fixed accounts acceptable to Immigration?

I have a rollong 3 month fixed term account already.

Edited March 28, 2016 by laislica

[alofthailand]

I'd put your 1 million that's in the straight savings account into a Time Deposit for the longest period possible and use it for Immigration purposes. Ex. Bangkok Bank usually offers 3, 5, 7, 10 month TD's. I do the longest and use it for Immigration because, IMO, rates will continue to go down for the next year or 2.

Get as much as possible out of Thailand into a secure bank account in the UK or elsewhere. Drip feed your required amount once a month or whatever suits you to your Thai bank account. Write a will.

[55Jay]

I've read some threads that say fixed accounts are accepted by (some?) Immigration offices for annual extensions.

Your motivations are a bit muddled and mixed to me, but sounds like liquidity of the 2m is more important than higher returns.

On that assumption, and that you don't need the 2m Baht as your monthly pension takes care of routine living expenses, I would put 800k Immigration show money in a limited access account on higher interest, like Krungsi MTD for example. Then put the balance in the best fixed account term you can find, with a maturity date after you return to Thailand, or longer. In both cases, ensuring wife is beneficiary now as a contingency in the event you are killed or die while on your extended trip outside Thailand.

I also quit doing the income letter "fun" trips to embassy in BKK, now keep 2.5m Baht in a couple Krungsi MTD contingency accounts, and use either for the annual "show money" drill at Immigration. I also quit balloon chasing fixed accounts, so it just sits there in Krungsi, even with dwindling return rates as they are. Still better than a normal savings account.

Edited March 28, 2016 by 55Jay

[Don Mega]

I think he just wants to brag

About 2 million Baht? Really?

over in the 3 million baht thread 2 million would be enough for a lot of the posters there to live for at-least 20 years !!

[KonaRain]

It's okay to brag a little.

Gold is good, but silver is facing a shortage, or is just undervalued as they say.

I understand your question as, where to consolidate all that good money, safely, and a good return.

Putting it in a stock account, then placing put options as the stock market crashes is good.

!!

[mrfaroukh]

Why to move it if you just leaving for few months . Keep in a bank giving you highest interest.

[55Jay]

I think he just wants to brag

About 2 million Baht? Really?

over in the 3 million baht thread 2 million would be enough for a lot of the posters there to live for at-least 20 years !!

Heh heh, indeed, found that thread last night.

[laislica]

It's okay to brag a little.

Gold is good, but silver is facing a shortage, or is just undervalued as they say.

I understand your question as, where to consolidate all that good money, safely, and a good return.

Putting it in a stock account, then placing put options as the stock market crashes is good.

!!

Great ideas but not for me.

I know nothing about the stock market except it is gamboling and generally rigged against the inexperienced

Just somewhere to get good returns.

4 years ago the GBP slumped to 44 baht, just as I was buying our first property.

In December 2015 it reached around 55 Baht so I transferred one million plus.

At the end of February it was down below 50 Baht again.

It's actually great not to have to worry about the exchange rate and to feel secure in the knowledge that this move got us a good bang for buck!

If I should die, my wife will be taken care of

I have a Spanish will.

I can make a UK will.

But I must organise a Thai will.

Thanks for all the great suggestions