elef Posted August 30, 2005 Report Share Posted August 30, 2005 I opened a bank account 10 days ago to get a thai ATM card. They offered me interest if I also put a thai name with mine. BTW, the normal interest rate of an bank account in Sweden is now 0 %, 2 years ago it was 0.15 or 1.00 % so IMO the interest rates in Thailand are similar to western ones. elef Link to comment Share on other sites More sharing options...
redwood13 Posted August 30, 2005 Report Share Posted August 30, 2005 Flashermac said:<< No problem if you have a work permit. >> Out of curiousity, I wonder what happens to people here on a retirement visa. Can they get interest? Be rather crappy if the government tells someone they have to bring over a lot of money, but can get no interest and have to pay to keep it here. (Some banks charge to open an account!) I opened an account at Bangkok Bank (the Suk Soi 8 branch) Jan. 2003 using a 60 day tourist visa and have received interest every 6 months since. Though I now have a retirement visa the bank doesn't know this. -redwood Link to comment Share on other sites More sharing options...
whosyourdaddy Posted August 31, 2005 Report Share Posted August 31, 2005 I know asia bank was offering that and HSBC. You need a reference letter from your bank where you are transferring the money from. I guess they want to check it is from legal means. You balance must be over 1 million to get the 4% Link to comment Share on other sites More sharing options...
Flashermac Posted September 1, 2005 Report Share Posted September 1, 2005 You mean you have to transfer the money in from OUTSIDE of Thailand? I know there is that stupid rule that you must bring the money in from abroad to buy a condo ... Link to comment Share on other sites More sharing options...
Flashermac Posted September 1, 2005 Report Share Posted September 1, 2005 p.s. The Thammasat University co-op pays 10% on shares. Unfortunately, I came too late to get into it. Seems about 12 years ago someone got the bright idea that evil foreign devils had no business owning shares in the co-op. Only Thais are allowed to buy shares. The Farangs who were already in it are allowed to stay. But if they ever want to draw any of it out, they have to withdraw the whole amount -- and can never take part again. One colleague gets around 380,000 baht a year on his shares. I asked him why he kept working, since that is more than his annual salary! Foreign archans -- Farang, Japanese, Chinese -- can only have an ordinary savings accounts at Thammasat. Some of my Thai colleagues were shocked to hear about the discrimination, since they felt we were full fledged faculty member. But some jealous racist bastard higher up obviously decided we aren't. Still, I was told that at Chulalongkorn foreigners aren't even allowed to open an ordinary account at the uni co-op. They get their pay deposited in a private bank to prevent tainting the university with dealings with the Untermenschen. Greetings from the back of the bus! :onfire: Link to comment Share on other sites More sharing options...
whosyourdaddy Posted September 3, 2005 Report Share Posted September 3, 2005 No. HSBC wanted a reference from the thai bank with the money in it that was going to be transferred into the 4% account. Yes sort of a silly rule. ? ""Do you want the money or not.??Why do we need a bank reference for putting the money into the account. I am taking the money out of the other bank because they are shit and now you want a reference from them. Sigh."" Link to comment Share on other sites More sharing options...
rickfarang Posted September 5, 2005 Report Share Posted September 5, 2005 " Be rather crappy if the government tells someone they have to bring over a lot of money, but can get no interest and have to pay to keep it here. " Well, that's the way it is, though it probably wasn't palnned that way. Link to comment Share on other sites More sharing options...
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