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  1. #1
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    Smile Deposit accounts : bank with best rates ?

    Hello,

    Iím looking for a bank purpose an interesting rate interest, i want to deposit some cash for a few trimester, which bank do you advise me ? I saw this advertising 5-Month and 7-Month Fixed Deposit Accounts but it seems that people holding non immigrant visa like me because i have a thai wife visa, canít open this account.

    Thanks for your advice

  2. #2

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    dirtydog's Avatar
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    You have a non immigrant L or A visa? Whatever they maybe.

  3. #3
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    I think as a foreigner you can access an account at the TMB ? bank .

    Think they are offering 3.75% for a 12 month deposit . Thats something I will be lobbing the old 800k in for my retirement visa soon .

    I have a Krung Thai account , dont waste your time there youll get stamped Foreigner no interest
    I'm proud of my 38" waist , also proud I have never done drugs

  4. #4
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    Quote Originally Posted by fred2krabi
    i want to deposit some cash for a few trimester,
    Quote Originally Posted by nigelandjan
    Thats something I will be lobbing the old 800k
    Both of you need to look at buying gold bar with, if not all, a large % of your cash pile.

  5. #5
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    Quote Originally Posted by OhOh View Post
    Both of you need to look at buying gold bar with, if not all, a large % of your cash pile.
    Where?
    What's the current going rate?
    Any idea what customs would say if you try to take it out of the country?

  6. #6
    Thailand Expat Boon Mee's Avatar
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    Anyone with a Non - O Visa can open a long-term deposit account with Bangkok Bank. Recently, they were paying 3.75% on a 11 month C/D.

  7. #7
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    double post, sorry
    Last edited by amazon777; 30-11-2011 at 09:18 AM. Reason: double post

  8. #8
    Thailand Expat lom's Avatar
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    Quote Originally Posted by nigelandjan View Post
    I think as a foreigner you can access an account at the TMB ? bank .

    Think they are offering 3.75% for a 12 month deposit . Thats something I will be lobbing the old 800k in for my retirement visa soon .
    Your 800K must be in a savings account so they are immediately accessible if needed, fund books/accounts are not accepted.
    The money must have been in the account for the last 3 month when you apply for the yearly extension of stay so you can have them in a better interest account for 9 months..
    May the bridges I burn light my way

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  9. #9
    Have you got any cheese Thetyim's Avatar
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    Quote Originally Posted by lom
    Your 800K must be in a savings account so they are immediately accessible if needed
    I have managed to get away with 800k in a deposit account for my extensions.
    I have never seen 'savings account' specified anywhere in writing.
    I think deposit account funds are instantly available if you don't mind losing a bit bit of interest.

  10. #10
    Thailand Expat lom's Avatar
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    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by lom
    Your 800K must be in a savings account so they are immediately accessible if needed
    I have managed to get away with 800k in a deposit account for my extensions.
    I have never seen 'savings account' specified anywhere in writing.
    I think deposit account funds are instantly available if you don't mind losing a bit bit of interest.
    I've done 7 or 8 yearly extensions with money in various high-interest accounts, some of them not even with a book but with a special bank certificate with the government as guarantor.
    I was denied an extension spring last year because I had the 800K on a long-time account of the type where you had to announce a withdrawal one day ahead of getting the money and I'm not the only one here who fell into that trap.
    Immigration in Samui has warned all banks here not talk foreigners into anything else than saving accounts for that part of their savings which they use for retirement stay extension.

  11. #11
    Thailand Expat Boon Mee's Avatar
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    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by lom
    Your 800K must be in a savings account so they are immediately accessible if needed
    I have managed to get away with 800k in a deposit account for my extensions.
    I have never seen 'savings account' specified anywhere in writing.
    I think deposit account funds are instantly available if you don't mind losing a bit bit of interest.
    My experience too.

    According to Ayutthaya Immigration the 800K can sit in a long-term account with the book updated 3 months before you go for the next Non O.
    A Deplorable Bitter Clinger

  12. #12
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    Quote Originally Posted by Thetyim
    I think deposit account funds are instantly available if you don't mind losing a bit bit of interest.
    That would have been my take on it Thet , I would have other accesable money in another account anyway , I would just lob the 800k in there and leave it. In the UK now the best you can get is a poxy 0.5% before tax.

    Quote Originally Posted by OhOh
    Both of you need to look at buying gold bar with, if not all, a large % of your cash pile.
    Gold bar mate 555 with my cash pile Ive just about managed a gold tooth !

  13. #13
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    Hi,

    It would be good to report every time we find a good saving account offer from a bank.

    Now it seems that there is still nothing higher than 4% ?


    Thanks.

  14. #14
    Have you got any cheese Thetyim's Avatar
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    ^
    If you got a shed load of money then Kiatnakin Bank are still giving 4.1%
    3.5% for under 10M

  15. #15
    Thailand Expat superman's Avatar
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    Quote Originally Posted by nigelandjan
    In the UK now the best you can get is a poxy 0.5% before tax.
    An offshore UK bank will give you nearly 3.5% annually, upto 3 years fixed account, if non-resident. No tax payable.

  16. #16
    Thailand Expat superman's Avatar
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    Quote Originally Posted by Thetyim
    If you got a shed load of money then Kiatnakin Bank are still giving 4.1% 3.5% for under 10M
    Tax to be paid ?

  17. #17
    Have you got any cheese Thetyim's Avatar
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    ^
    All deposit accounts in Thailand deduct 15% WHT as far as I know

  18. #18
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    Quote Originally Posted by amazon777
    Where?
    What's the current going rate?
    Any idea what customs would say if you try to take it out of the country?
    Depend where you are
    Depends on how much you buy
    Depends on which country you are travelling from/to.

    Quote Originally Posted by lom
    The money must have been in the account for the last 3 month when you apply for the yearly extension of stay so you can have them in a better interest account for 9 months..
    Quote Originally Posted by nigelandjan
    Gold bar mate 555 with my cash pile Ive just about managed a gold tooth !
    You need to keep 800,000bht in an "available" Thai bank account for three months prior to obtaining your visa it seems. You can also "earn" 3-5% p.a. if you put the money in a bank account. It may be safe in a Thai bank or maybe safer in two UK accounts, not much difference in the %.

    Either way inflation and currency exchange rates add another risk to retaining the 800,000bht "requirement" for the years to come.

    1 oz. gold bars, more half a credit card size wafer than a bar, can be purchased for approx £1,150 per oz. in the UK, VAT free. 14 oz of gold will cover your "visa" bond requirements. You can buy up to 10 oz. in the UK with no paperwork required other than a UK bank account, you can buy more but "forms" need to be completed. The purchase can be done online with courier delivery. There is no UK HMRC restriction in taking gold bars out of the UK or importing them into Thailand.

    The clincher is gold has appreciated this year by 27% in US$ terms - (18,000bht july 2010 to 25,200bht Nov 2011 +40% in Thai market prices) . The mega clincher is that gold has appreciated by 500% over the past 10 years. With the way the financial markets are heading, IMHO, this is not going to stop and some are suggesting much larger increases are ahead. You can buy and sell gold in all Thai cities.

    So, buy your gold now, when visa time comes around sell it and put the cash in the bank for the three months required for the visa, once you have your visa buy your gold and hold for the other nine months and repeat. Next year you might have 1,000,000bht. It would pay for a new truck every 5 years

    Alternatively put in in a bank and take the 3-5%

    It's up to you.......................
    Last edited by OhOh; 01-12-2011 at 09:12 AM.
    A tray full of GOLD is not worth a moment in time.

  19. #19
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    you guys should buy some Thai stocks, their price are stable and they offer 7% to 15% dividends

    if you are lucky their price might even go up

  20. #20
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    ^Are customer account funds in Thai stockbrokers protected or guaranteed in any way?

  21. #21
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    customers securities are actually registered to their customer names, unlike in Europe or the US where securities are registered under "street" names, basically under the custodian name, but not here. For farangs however, shares are registered under the NVDR custodian, a proxy for farangs to buy local shares. It basically removes their voting rights, but not their "ownership" rights, and therefore are eligible to dividends and other capital structure change.

    you own the stocks and your name is in the company book (or under NVDR company book), again unlike in Europe or the US,

    so yes the protection is very strong, more if you are Thai or a big farang with a lot of cash

  22. #22
    Thailand Expat Boon Mee's Avatar
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    Quote Originally Posted by Thetyim View Post
    ^
    If you got a shed load of money then Kiatnakin Bank are still giving 4.1%
    3.5% for under 10M
    Never heard of that bank but BKK bank is giving 3.75% on a 11 month deal.

  23. #23
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    Quote Originally Posted by OhOh
    So, buy your gold now, when visa time comes around sell it and put the cash in the bank for the three months required for the visa, once you have your visa buy your gold and hold for the other nine months and repeat. Next year you might have 1,000,000bht. It would pay for a new truck every 5 years
    gosh, I must rush out and buy a shedload before the bubble bursts

  24. #24
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    Quote Originally Posted by DrAndy View Post
    Quote Originally Posted by OhOh
    So, buy your gold now, when visa time comes around sell it and put the cash in the bank for the three months required for the visa, once you have your visa buy your gold and hold for the other nine months and repeat. Next year you might have 1,000,000bht. It would pay for a new truck every 5 years
    gosh, I must rush out and buy a shedload before the bubble bursts
    As I said "It's up to you....."

  25. #25
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    Quote Originally Posted by Butterfly View Post
    you guys should buy some Thai stocks, their price are stable and they offer 7% to 15% dividends

    if you are lucky their price might even go up
    aint that the truth.. my question is, can u get a visa with cash held by the dealing company, ie a letter from the bank. if so it sure is the way to go.

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