Do Thai banks allow fixed deposit accounts to automatically transfer funds back to a regular account upon maturity?

Thai bank services fixed deposit accounts K-bank fund transfer procedures expat banking in Thailand

April 15, 2024

5 months ago

ORIGINAL POSTER

Deposit account

Hi guys, does anyone know of a bank offering deposit accounts where the money flows back to your regular account after they complete? Back in 2018 I was told by K-bank that this wasn't possible and that my physical presence in their branch was required to first receive and then redeposit the money to the right account to make that work. Quite unbelievable but that's what they said.

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TLDR : Answer Summary

The inquiry concerns whether Thai banks offer deposit accounts where funds automatically return to a regular account after maturity. The user recalls a previous experience with K-bank in 2018, where they were informed that physical presence was necessary for the process. A commenter clarifies that this should not be an issue, suggesting that at the time of opening a fixed deposit, users can choose to have the funds transferred back to their main account after maturity.

Pui *****

Never had such a problem. You simply select at the time of opening the fixed deposit whether the funds go back to your main account at maturity, or if you want the fixed deposit to roll into their standard term.

5 months ago

Bart **************

ORIGINAL POSTER

@Pui ****

is that with K-Bank?

5 months ago

Phil ******

@Bart *************

farangs require presence in the branch with original passport. .what the purpose please as if retirement funds you won't be able to do it....immi rules

5 months ago

Bart **************

ORIGINAL POSTER

@Phil *****

it's not entirely clear to me what you're saying. Are you confirming that it is not possible (for foreigners) to have deposit accounts from where the money automatically goes to a regular account after completion, and that this is because immigrations requires physical presence of the foreigner in the bank to get money from a terminated bank account rather than doing the logical thing?

5 months ago

Phil ******

@Bart *************

immi want you to have access to the funds for emergencies.

5 months ago

Bart **************

ORIGINAL POSTER

@Phil *****

what does immi have to do with my money?

5 months ago

Phil ******

@Bart *************

talk with the bank. Remember the money can't go below ฿400,000,000.

5 months ago

Reply to

Phil ******

Pui *****

@Bart *************

no, but you asked if there are banks that allow this. I believe most do, it not all, from my experience. The person at K Bank might have told you incorrect info, or there are specific fixed deposits that always roll over unless you go in to stop it, and maybe they were telling you about one that specifically had such a restriction.

5 months ago

Bart **************

ORIGINAL POSTER

@Pui ****

yeah I found it hard to believe that they can't send money from a terminated deposit to somebody's regular account but and I really confirmed this a few times with them but they were adamant that the only way to get money from a terminated deposit is physical payout in cash.

5 months ago

Reply to

Bart **************

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