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800,000 Baht in Savings Account


AAArdvark

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The requirement to have 800,000 baht in a Thai bank seems to be limited to "savings / fixed deposits".  If that is the case, do Thai banks issue debit cards on a savings account or do you have to have more than one account?

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Yes, ATM/debit cards are standard on savings accounts. 
For extensions, the balance can't below 800K for two months first time/three months subsequent times before each annual application.

Outside that period you can deplete the account as much as you wish. 

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6 minutes ago, wgdanson said:

This is New Years Eve guys, you should be out enjoying yourselves.

 

Ask the same f...ing question tomorrow please.

I live not far from hot spots in Cha-am for new years eve celebrations.  I had to have my Grandpa knap so I can stand up straight when the music really gets going and all the girls come out to play...I'm going now...see ya.

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A few years ago I kept mine in a one year fixed high interest bank account

THEY did not like it one little bit !!!

They moaned about it not being accessible so did not fulfill criteria 

 

I have not used the method since

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6 hours ago, wgdanson said:

This is New Years Eve guys, you should be out enjoying yourselves.

 

Ask the same f...ing question tomorrow please.

Well it wasn't New Year's eve when/where I posted it and I would never have thought to post the next day on a holiday which would have been your next day?  Otherwise a BS answer but thanks anyway.

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I would highly recommend that if you have large sums in an account you not get an ATM card to prevent loss/theft... When you go to the bank ask for two accounts to be setup one for the 800k (without ATM) and a second with an ATM... then setup online/app banking to allow you to move funds from one account to the ATM account as needed keeping as small amount on the ATM account as needed... if the card is lost/stolen you limit you loss... 

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11 hours ago, wgdanson said:

This is New Years Eve guys, you should be out enjoying yourselves.

 

Ask the same f...ing question tomorrow please.

Were you enjoying yourself when you wrote the post?

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10 hours ago, poohy said:

A few years ago I kept mine in a one year fixed high interest bank account

THEY did not like it one little bit !!!

They moaned about it not being accessible so did not fulfill criteria 

 

I have not used the method since

What? Of course your money are accessible. However you'll lose the interest if you 'plunder' the account.

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34 minutes ago, sfokevin said:

I would highly recommend that if you have large sums in an account you not get an ATM card to prevent loss/theft... When you go to the bank ask for two accounts to be setup one for the 800k (without ATM) and a second with an ATM... then setup online/app banking to allow you to move funds from one account to the ATM account as needed keeping as small amount on the ATM account as needed... if the card is lost/stolen you limit you loss... 

Non-ATM is for fixed deposit account. ATM is for savings account.

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12 hours ago, wgdanson said:

This is New Years Eve guys, you should be out enjoying yourselves.

 

Ask the same f...ing question tomorrow please.

Sorry everyone. I shall temper my sense of humour this year. 

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"I would highly recommend that if you have large sums in an account you not get an ATM card to prevent loss/theft."

 

I met a guy in Samui many years ago that was kidnapped by several Thai men at his ATM and forced to withdraw the daily maximum. Then they took him in their car and held him for about three days, I think it was. They roughed him up even though he cooperated and it was so bad, he lost an eye. 

This is not hearsay; I talked to the man himself. 

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1 hour ago, David Walden said:

There appears to be some new information on the Australian Embassy in Bangkok website which comes into action from today 01/01/22019.   https://thailand.embassy.gov.au/bkok/Notarial_Services.html.

    Some stuff may hit the fan soon with this. 

we seem to be in No Mans Land At The Moment

But i did watch the video of the American acting counsil person being interviewed by the pataya radio Station

It seems that immigration in Bangkok will release what they require from us at the end of the month

So we will have to wait till this happens

Maybe all our Embassys need to step and keep in touch with Immigration plus to advise us

Then Immigration Bangkok to advise their offices

We can only but hope

 

 

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14 hours ago, poohy said:

A few years ago I kept mine in a one year fixed high interest bank account

THEY did not like it one little bit !!!

They moaned about it not being accessible so did not fulfill criteria 

 

I have not used the method since

I think Immigration need to release this that our money is not grown on trees

In the high interest it is safe from Theft

With no ATM Card being able to use

 

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5 hours ago, EricTh said:

Non-ATM is for fixed deposit account. ATM is for savings account.

The OP only asked about savings accounts... For savings you can request only a paper bank book... Actually an ATM card cost more and is an option...

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4 hours ago, sfokevin said:

The OP only asked about savings accounts... For savings you can request only a paper bank book... Actually an ATM card cost more and is an option...

I prefer to steer clear of the debit cards - vulnerability to fraud is a concern.

With a savings passbook, one can withdraw cash at no cost. It's also about as fraud-proof as one can get in Thailand.

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5 hours ago, Trujillo said:

I met a guy in Samui many years ago that was kidnapped by several Thai men at his ATM and forced to withdraw the daily maximum. Then they took him in their car and held him for about three days, I think it was. They roughed him up even though he cooperated and it was so bad, he lost an eye. 

This is not hearsay; I talked to the man himself. 

Any record of that in the media?

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1 hour ago, Lacessit said:
5 hours ago, sfokevin said:

 

I prefer to steer clear of the debit cards - vulnerability to fraud is a concern.

With a savings passbook, one can withdraw cash at no cost. It's also about as fraud-proof as one can get in Thailand.

You're right. But with ATM / Mobile Apps payments are very easy. My approach is do both - an account without ATM / Mobile App and another with it. Diversify and don't keep huge amounts in any of the accounts (and in Thailand in general, if you can..)

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15 hours ago, Lacessit said:

I prefer to steer clear of the debit cards - vulnerability to fraud is a concern.

With a savings passbook, one can withdraw cash at no cost. It's also about as fraud-proof as one can get in Thailand.

Withdrawing from a savings account is not very convenient.  I prefer not to carry a lot of cash.  If something comes up after banking hours, I can just use a debit card at an ATM.

So, it seems the consensus is that debit cards CAN be issued for savings accounts but there is some sort of fee, is that correct?  

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22 hours ago, sfokevin said:

Safe as you can get - But not 100%...

http://www.nationmultimedia.com/detail/national/30357034

True enough - one can't guard against dishonest bank employees.

I was thinking more of the withdrawal process - as a farang, one has to produce their passport, then sign the withdrawal slip ( sometimes a copy of the passport page as well ) which is compared with the black light signature in the passbook. It would take a very cunning fraudster to circumvent those checks.

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2 hours ago, Lacessit said:

True enough - one can't guard against dishonest bank employees.

I was thinking more of the withdrawal process - as a farang, one has to produce their passport, then sign the withdrawal slip ( sometimes a copy of the passport page as well ) which is compared with the black light signature in the passbook. It would take a very cunning fraudster to circumvent those checks.

 

Yet another consideration is that one should be ready for the possibility of fraud and monitor accounts regularly and frequently. Checking account balance / transactions is a matter of a few clicks with online / app access. It's more of hassle with just ATM / bankbook.

 

So perhaps paradoxically, using somewhat less secure means actually improves fraud detection and possible consequences.

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