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BANGKOK 25 June 2019 14:27
DrJack54

800k in fixed term deposit for extension based on retirement

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Never had a problem with this. I am retired with a retirement visa. Recently SCB, for example, only asked to see my passport.

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2 hours ago, Thingamabob said:

Never had a problem with this. I am retired with a retirement visa. Recently SCB, for example, only asked to see my passport.

Some facts? Did you already have an account with SCB? Asked pp for what? To open new bank a/c. Where...which branch.

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It is normally easier and quicker to allow your wife/girlfriend to do the talking. If that is not possible, then it is best to persist with the bank/branch where you already have a savings account.

 

You can easily withdraw some, or all, of the fixed deposit account at any time and they usually pay the interest up to that point (at least SCB do). More worryingly, the local branch has let my wife do it a few times without my being present or signing anything.

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1 hour ago, Stevemercer said:

It is normally easier and quicker to allow your wife/girlfriend to do the talking. If that is not possible, then it is best to persist with the bank/branch where you already have a savings account.

 

You can easily withdraw some, or all, of the fixed deposit account at any time and they usually pay the interest up to that point (at least SCB do). More worryingly, the local branch has let my wife do it a few times without my being present or signing anything.

I don't wish to offend but my Thai partner has excellent English and of course Thai and was with me. Both her and my bank insisted that would pay 15% tax on fixed deposit interest, despite forum stating only tax over 20k. Also want embassy letter etc list goes on and on. One wanted certificate of residence. Bangkok bank. 

 

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I opened an account with Krungsi using a retirement extension and passport with proof of address.

i have a savings account and a “current” account,a credit card and debit card.

i have recent opened a fixed term account which I intend to use for my next retirement extension. The account will release the money forfeiting interest and is therefore valid for this purpose. The bank assured me that many customers use it for this purpose,and they will issue the necessary letter ect at the appropriate time for immigration dept.

i find Krungsi excellent in all respects and utilise their internet banking which in my opinion is superior to HSBC where I also hold accounts.

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Are you American? K Bank would not open a fixed term or fund account if you are because of FBAR reporting. This was several years ago, maybe things have changed? 

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7 hours ago, DrJack54 said:

Both her and my bank insisted that would pay 15% tax on fixed deposit interest, despite forum stating only tax over 20k.

They were correct. You will pay tax on your time deposit and you can claim it back later. I do it every year.

 

The 20k rule is for savings accounts and similar, not time deposits.

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I think most banks here work on the principle that if you already have an account with them they dont have to verify who you are, so opening a second account is easy. That's what I have always found anyway.

 

As for TDs being acceptable for immigration: they certainly are in Jomtien, but other offices may not agree.

 

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Posted (edited)
1 hour ago, KittenKong said:

I think most banks here work on the principle that if you already have an account with them they dont have to verify who you are, so opening a second account is easy. That's what I have always found anyway.

 

As for TDs being acceptable for immigration: they certainly are in Jomtien, but other offices may not agree.

 

Nope, see my post #4. I thought the same before attempting to open another account at KBank.

Edited by jwdub
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10 hours ago, DrJack54 said:

I don't wish to offend but my Thai partner has excellent English and of course Thai and was with me. Both her and my bank insisted that would pay 15% tax on fixed deposit interest, despite forum stating only tax over 20k. Also want embassy letter etc list goes on and on. One wanted certificate of residence. Bangkok bank. 

 

What they want is proof of address. That could be from a certificate of residence, from an embassy letter, from a tabian ban or other government document like a work permit.

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16 hours ago, Thingamabob said:

Never had a problem with this. I am retired with a retirement visa. Recently SCB, for example, only asked to see my passport.

Certainly depends on the branch, I applied at SCB recently and was rejected since I have no work permit. TIT. 

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2 hours ago, jwdub said:

Nope, see my post #4. I thought the same before attempting to open another account at KBank.

Well, that's why I said most banks. Your bank seems to be an exception. I certainly have never had any trouble opening extra accounts at banks with which I already have an account.

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Well, that's why I said most banks. Your bank seems to be an exception. I certainly have never had any trouble opening extra accounts at banks with which I already have an account.
I can confirm that Kasikorn don't just open a second account for you, you have to provide a long stay visa and other stuff first. I was just in Krungsi to enquire about opening a fixed deposit account, they too want the same paperwork i provided a few months ago when i opened the MJD account. TiT
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1 hour ago, KittenKong said:

Well, that's why I said most banks. Your bank seems to be an exception. I certainly have never had any trouble opening extra accounts at banks with which I already have an account.

Actually it sounds more like your banks the exception.

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1 hour ago, jwdub said:

Actually it sounds more like your banks the exception.

I use several banks here and none seem to have a problem with this. I used to have accounts with Kbank also but they stopped offering good interest rates so I closed them all.

 

Bangkok Bank seems to have problems with everything and given that they have amongst the worst interest rates I wonder why anyone bothers with them.

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