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Front Row

Does Immigration accept funds in a SCB EZ Savings Account?

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SCB Bank offers an account called an "EZ Savings Account".  The account earns an interest rate of 1.5% which is very good.  However, this type of account has no physical passbook.  You access account info online or through a phone app.  I believe you get or can request a monthly statement (need to confirm that).  With no physical passbook I worry that Immigration would not accept this kind of an account. Does anyone have any real life experience?

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Most immigration offices now accept an account without a bank book.

You would need a bank statement from the bank for at least 2 months on the day you apply.

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I used SCB EZ Saver last year, they could not print me a statement. I just had a Screenshot showing the 800k balance from when logged in on my phone.

The immigration officer just rang the bank to confirm that it was an "online only" account. No problem. FYI that was Hua Hin immigration, I have always found them pretty good.

 

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1 hour ago, samui99 said:

I used SCB EZ Saver last year, they could not print me a statement. I just had a Screenshot showing the 800k balance from when logged in on my phone.

The immigration officer just rang the bank to confirm that it was an "online only" account. No problem. FYI that was Hua Hin immigration, I have always found them pretty good.

 

Thanks. That’s great to hear. 

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18 hours ago, ubonjoe said:

Most immigration offices now accept an account without a bank book.

You would need a bank statement from the bank for at least 2 months on the day you apply.

Thanks. I think I’ll try to find someone at an SCB branch who can tell me whether an e-statement can be sent out every month. Who knows I might even find someone at SCB who’s dealt with this issue previously. 😝

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I've been told twice at Jomtien Immigration that the criterion they apply to decide whether an account can be used to hold the 800K Baht is that you must be able to access the funds in it on that day. That's why the SCB SFF Fund account has never been accepted by Immigration, there are no same-day withdrawals. How does your EZ Savings account score on that test?

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4 minutes ago, Guderian said:

I've been told twice at Jomtien Immigration that the criterion they apply to decide whether an account can be used to hold the 800K Baht is that you must be able to access the funds in it on that day. That's why the SCB SFF Fund account has never been accepted by Immigration, there are no same-day withdrawals. How does your EZ Savings account score on that test?

It’s described exactly like a passbook savings account, but without the passbook. AFAIK, you can withdraw from the bank tellers or via certain ATMs and the app. (Apparently you can’t insert a link or a url here or I would do that.)

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9 minutes ago, Front Row said:

(Apparently you can’t insert a link or a url here or I would do that.)

 

You can insert a link or URL to this product.

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2 hours ago, Front Row said:

Thanks. I think I’ll try to find someone at an SCB branch who can tell me whether an e-statement can be sent out every month. Who knows I might even find someone at SCB who’s dealt with this issue previously. 😝

Is the 1,5%/year interest, the current rate? Almost every bank reduced the rates recently for their Fixed Deposit Accounts from 1,5% to 1%. 

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2 hours ago, Max69xl said:

Is the 1,5%/year interest, the current rate? Almost every bank reduced the rates recently for their Fixed Deposit Accounts from 1,5% to 1%. 

SCB are "on the ball" like Immi ....  depends on who, what day, if they had their cofee = what they tell you, and even then.. "who told you that?"  I discard the 1% as I dont want to argue the point..  

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Posted (edited)
5 hours ago, Front Row said:

Thanks. That’s great to hear. 

Just because one branch has accepted it doesn't mean yours will.

 

It all depends on the immigration office and the approving officer on that day. 

 

My immigration office is picky, they not only require the bank book copies but also a printed bank statement signed. If the imm office can just phone the bank why do they need the bank book copies in the first place from rest of us?

 

Not only that, they need a bank letter too.

 

All interest rates are coming down now.

 

Edited by EricTh

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