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JetsetBkk

Which Bank To Put 800K In For A Year?

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21 hours ago, JetsetBkk said:

Latest rates from various banks in Phuket's "Central Festival" shopping mall:

 

Krungsri bank "Mee Tae Dai" account: 1.1%, interest paid monthly

Bangkok bank: 0.75%

Thanachart: eSavings account 1.5%. First you have to open another account and transfer money to the eSavings account. What a hassle.

CIMB: 1.2% for 11 months

Kasikorn: 0.65%

 

 

Couldn't find a "LH Bank", but I was tired of looking TBH.

Makes for a higher risk, lower reward, visa criteria to meet. 

 

Not worth it. 

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3 hours ago, Leaver said:

Makes for a higher risk, lower reward, visa criteria to meet. 

 

Not worth it. 

It's a lot of hassle, let alone the risk. Even for a 0.2% increase in return, it's only 2,000 baht on a million. Hardly worth the time and diesel. Maybe if I'm in town with some time to waste I might go to Krungsri, after I've gone to the SCB and withdrawn a load.

 

Isn't there some way to transfer this money electronically, i.e. without carrying a paperbag full of cash from one bank to another?

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19 hours ago, JetsetBkk said:

It's a lot of hassle, let alone the risk. Even for a 0.2% increase in return, it's only 2,000 baht on a million. Hardly worth the time and diesel. Maybe if I'm in town with some time to waste I might go to Krungsri, after I've gone to the SCB and withdrawn a load.

 

Isn't there some way to transfer this money electronically, i.e. without carrying a paperbag full of cash from one bank to another?

i was suggesting it's not worth the risk in any Thai bank, just for a visa. 

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On 5/22/2020 at 10:23 PM, JetsetBkk said:

Isn't there some way to transfer this money electronically, i.e. without carrying a paperbag full of cash from one bank to another?

Yes if you have internet banking set up with both accounts.

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30 minutes ago, topt said:

Yes if you have internet banking set up with both accounts.

You only need internet banking with the account transferring the money - you can send money to any bank/account number.

 

Has anyone checked into using a fixed deposit for the 800k and obtained a secured credit card on that basis?  Would be one way to cover short term shortfalls without the need to withdraw from the 800k account.  Yes you would have payment of interest but that would likely be better than losing extension of stay for most people.

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1 hour ago, lopburi3 said:

Has anyone checked into using a fixed deposit for the 800k and obtained a secured credit card on that basis?  Would be one way to cover short term shortfalls without the need to withdraw from the 800k account.  Yes you would have payment of interest but that would likely be better than losing extension of stay for most people.

Last year, or before, I seem to remember a couple of people mentioned they had done that and all of a sudden (it had not been done previously) the bank chopped the balance amount in the letter to deduct the "secured" amount of whatever it was.

Again from memory the TVers who reported it said it was Bangkok Bank but my memory could be faulty on that one. 

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On 5/24/2020 at 4:28 PM, lopburi3 said:

Has anyone checked into using a fixed deposit for the 800k and obtained a secured credit card on that basis?  Would be one way to cover short term shortfalls without the need to withdraw from the 800k account.  Yes you would have payment of interest but that would likely be better than losing extension of stay for most people.

That could be dangerous for many here. 

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