Closing my bank account with Bangkok Bank (being outside of Thailand)

[BeardedDragon]

Dear members,

 

I have been outside of Thailand for several years (staying in the Netherlands), and doubt if I will return very soon.

Therefore, I am thinking to close my bank-account with the Bangkok Bank, since my bank card will also expire somewhere next year.

Now I know that in the past there was a member of the Bangkok Bank active on these forums, helping other members with their questions.

 

I read the following on the official site of the bank http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/FAQs.aspx:

How can I close my account at Bangkok Bank if I am living outside Thailand?
In accordance with the laws of Thailand, you cannot close the account without coming into the bank in person. However, you will be able to access your funds via electronic channels or by giving authorization to another person.

 

Being living in the Netherlands, can I visit the Bangkok Bank branch in London ?

If it is not possible to close the account, can I still ask for a new card, since mine will expire next year ?

[Mrjlh]

All you had to do is run the balance to "zero", then in one year it will expire on its own.  It will also expire after a few years and the bank collects any funds left in it. They take out the yearly charge until there is no more. It will still show on bank records but it is technically closed. I've done this on 4 accounts in the different locations I have lived. So far and not an issue with the bank.

[Pib]

You must show up in person at the Bangkok Bank branch to close the account.

 

The London branch is really a bank for commercial/cooperate accounts; not retail, anyone off the street branch.  Yes, I know you can route money through them to your in-Thailand Bangkok Bank branch but you do not need an account at the London branch to do that.

 

Just run the money down to zero using your the Bangkok Bank debit card...be sure to do this before the card expires because you won't be able to visit a in-Thailand branch to get a replacement since you say you don't plan on coming back to Thailand.  

 

And once the account drops to below Bt2,000 "and" there is no user (account owner) activity for 12 months (i.e., withdrawal, deposit, transfer) the bank will begin to charge a Bt50/month maintenance fee until the account balance reaches zero at which time the account will be automatically closed.    Account activity does not include interest payments or the annual fee for your debit card as that is not a User initiated activity; that's a bank initiated activity.

 

Yeap, just draw down the funds with your debit card....and once it gets low enough to where it can not even cover the debit card annual fee or what I mentioned in the previous paragraph that will drive closure of the account.

 

Edited July 31, 2017 by Pib

[Kabula]

I was informed by two Thai banks that with my retirement visa if I close a Thai bank account I can't reopen it unless I have a work visa!

 

It's best to draw it down, but leave a thousand baht in there so it will always be available to move money into it in case your home currency becomes less valuable, bank holidays are predicted or bank bailins begin in your country.

[Pib]

13 minutes ago, Kabula said:

I was informed by two Thai banks that with my retirement visa if I close a Thai bank account I can't reopen it unless I have a work visa!

 

It's best to draw it down, but leave a thousand baht in there so it will always be available to move money into it in case your home currency becomes less valuable, bank holidays are predicted or bank bailins begin in your country.

If you only leave a Bt1000 in the account and then let it go stagnant (i.e., no owner activity) for 12 months, Bangkok Bank will begin applying a monthly maintenance fee....see my earlier post with full details.

 

If you want to let it go stagnant for more than a year, be sure you keep enough money in the account to avoid the maintenance fee which can drain the account to zero balance after X-month....when the account balance reaches zero in this case the account is close.  See my earlier post.

Edited August 1, 2017 by Pib

[fxe1200]

13 hours ago, Mrjlh said:

All you had to do is run the balance to "zero", then in one year it will expire on its own.  It will also expire after a few years and the bank collects any funds left in it. They take out the yearly charge until there is no more. It will still show on bank records but it is technically closed. I've done this on 4 accounts in the different locations I have lived. So far and not an issue with the bank.

 

The easiest way and the right answer above.

[blackcab]

On 01/08/2017 at 9:43 AM, Kabula said:

I was informed by two Thai banks that with my retirement visa if I close a Thai bank account I can't reopen it unless I have a work visa!

 

Lack of knowledge by the bank staff/their own local rules.

 

How do retirees open an account to deposit their 800k? A retiree cannot have a work permit...