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BANGKOK 18 August 2019 16:53


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About mikesil

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  1. Fixed accounts in Thailand are not exactly like Certificates of Deposit in the US. One of the differences is that you CAN add --- I'm not sure about withdraw (maybe with a penalty). I knew this beforehand, but felt sandbagged learning about the 2000 baht minimum 30 minutes before my visit to TM. Yes, I know it's still my money even though I'll never see it again. Hope my heirs and descendants use it wisely.
  2. This may be of interest to those who use the money-in-the-bank method. I have a so called "fixed" account which sits undisturbed and exists for no purpose other than to be shown to TM (Immigration) annually. Well this year, as we all know, there are a couple of new wrinkles. First, the bank letter must be dated on the same day as the visit to TM. Second, a deposit must be made on that same day, presumably to show the account is still alive (totally redundant with the bank letter, IMHO). So, this morning, on the way to TM, I stopped off at the bank, put 20 baht on the counter, and asked to make said deposit. Response: "Sorry, we don't accept deposits of less than 2000 baht for fixed accounts". Not a tragedy, just annoying.
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