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  • Thai Bank Interest

    My thai bank account has just hit the one million mark, from accrued rental income.

    Thing is I don't get interest on it.

    Anybody know any thai accounts that do pay fair interest?

  • #2
    They're called "savings accounts" and all of the banks have them.

    Comment


    • #3
      Originally posted by MrBlobby View Post
      My thai bank account has just hit the one million mark, from accrued rental income.

      Thing is I don't get interest on it.

      Anybody know any thai accounts that do pay fair interest?
      For years, I have held an account at Bank of Bangkok (keeping the 800,000.00 baht you are required to have for a long term Visa) which pays me more (over the years) than you can get from any saving account offered. Check out Bualuang Thanatavee Fixed Income Fund: http://www.bangkokbank.com/BangkokBa...ges/BTNTV.aspx

      Take note of the bottom line.
      This site might also be helpful: http://www.checkraka.com/price/fixed...account=100008


      Originally posted by Thormaturge View Post
      They're called "savings accounts" and all of the banks have them.
      Not that helpful are you, smart azz?
      Keep your friends close and your enemies closer

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      • #4
        Sorry guys, omitted to say I am not Thailand resident.

        If I was then both your suggestions would be attainable.

        I always understood that a Falang couldn't hold an interest bearing account, unless resident, where some banks may give concession.

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        • #5
          The OP requested details of a bank account, he did not specify a level of risk and I was not assuming he would be prepared to lose his money.

          What you have offered, Mr. Landreth, is the opportunity to receive a slightly higher return by risking the loss of some, if not all, of his deposit.

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          • #6
            Mr B, is there a specific reason why you want to keep that kind of money in Thailand when you are not living here?

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            • #7
              ^ Indeed I was thinking specifically bank deposits.

              its a situation that has just crept up really, I have had the property several years, bought with future retiring to Thailand in mind, and rented out up to now.

              But the recent sight of seven digits sort of made me sit up and think.

              So no need for it to sit there other than for future retirement, or holiday, use.

              Regards moving it out of Thailand I believe there are limits in doing so

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              • #8
                Originally posted by MrBlobby View Post
                future retiring to Thailand in mind,
                If not for this aspect I would suggest getting the money out of Thailand, and a million Baht can be wired without too much fuss if the bank knows where the money is coming from, but since you intend retiring here the question then becomes what the exchange rates would be when you move the money out, and then back.

                I'll have someone call around and see what the various bank policies are on non-residents holding accounts.

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                • #9
                  Bangkok Bank swear blind that their savings account pays interest for non-residents so I shall ask for more information next week.

                  I also have a meeting with the company's bankers, Krung Thai, on Monday, so I'll see what they have on offer.

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                  • #10
                    Originally posted by Thormaturge View Post
                    Bangkok Bank swear blind that their savings account pays interest for non-residents so I shall ask for more information next week.

                    I also have a meeting with the company's bankers, Krung Thai, on Monday, so I'll see what they have on offer.
                    Thanks for taking the time to look into that

                    i'm in TMB at the moment so will email them with the question, and see if they offer anything.

                    Comment


                    • #11
                      Originally posted by Thormaturge View Post
                      I also have a meeting with the company's bankers, Krung Thai, on Monday, so I'll see what they have on offer.
                      I received interest for several years, until I closed the account... then they told me I shouldn't have gotten any and they made a mistake, and didn't pay out the accumulated interest.

                      TiT
                      Originally posted by Ergenburgensmurgen;n186588
                      What are you talking about, I don't post on Teakdoor.


                      https://thailandchatter.com/core/ima...ies/giggle.gif

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                      • #12
                        ^
                        Thanks for that info.

                        If the info from BB turns out to be incorrect I want to see what Citibank and UOB are doing. It's worth knowing from a professional perspective.

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                        • #13
                          I suspect it's mostly down to individual branch policy, just like whether they let you open an account or not (as a non-res).
                          Originally posted by Ergenburgensmurgen;n186588
                          What are you talking about, I don't post on Teakdoor.


                          https://thailandchatter.com/core/ima...ies/giggle.gif

                          Comment


                          • #14
                            Originally posted by serrollt View Post
                            I suspect it's mostly down to individual branch policy, just like whether they let you open an account or not (as a non-res).
                            You may well be right, in which case policy can change.

                            These accounts should have a set of written terms and conditions ....

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                            • #15
                              This is part of the maddening third-world drama that is Thailand.
                              Half the farangs I talk to claim they hold their 800k in interest-bearing accounts. The other half claim banks will not pay interest to foreigner-only accounts.

                              Until now I've kept money in a joint, interest-bearing account with my wife. Now that I'm 50 and can get a retirement visa, I planned on opening an account in my name only (required for the visa) and plopping the money in there. I guess it's a crap shoot whether they pay me interest or not. I will forgo the 800k in the bank and go down the pension proof road if I'm told my baht doesn't accrue interest.

                              What kind of bullsh!t policy is that? Another example of dysfunctional Thailand.

                              then they told me I shouldn't have gotten any and they made a mistake, and didn't pay out the accumulated interest.
                              Somebody would have gone home from work at the bank that day with twice the number of anuses they started the day with. I would have not taken that response lightly.
                              Last edited by Texpat; 08-30-2014, 09:38 AM.

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