Ask question

Why am I not receiving interest on my O-A visa bank account in Thailand?

Thailand Banking Foreign National Banking O-A Visa Interest Rates Bank Regulations

Aug 20, 2022

2 years ago

Stiaan ***********

ORIGINAL POSTER

Hi All. Been in Thailand 11 months on O-A visa. Opening bank account was easy but I notice that no interest is given on the large positive balance. 

Somewhere I read that it's because of no workers permit. Surely this can't be legal. Yes I understand tax is payable on interest earned and the bank could deduct that, but interest can't be withheld on these grounds.

Please don't comment with 'this is Thailand'. There must be international banking laws that regulate this.

Any positive feedback will be appreciated.

2,196

views

5

likes

48

all likes

15

replies

1

images

10

users

TLDR : Answer Summary

The user expresses concern about not receiving interest on their positive balance in a bank account while holding an O-A visa in Thailand. Despite having a large amount deposited, they understand that typically interest should be credited, regardless of work permit status. Comments from the community indicate that low interest rates are common globally, and while note-worthy, Thai banks do offer minimal interest on accounts. Users suggest shopping around different banks for better options.

Danny *******

What bank? I have Kasikorn and they pay interest.

Like

Reply

Marc ********

Not a Thailand issue. Interest rates are down since years in the whole world.

Even on my swiss bank account I am getting only 0.005% interest

Like

Reply

Dana *******

I get interests twice a year : end of June & end of December (Bangkok Bank, Savings account), not much, but still...

Like

Reply

Duncanc **********

Definitely you get interest

probably 0.0%

Like

Reply

Av **********

Be happy you haven't woken up and your money is just gone. Money in banks have a tendency to just 'dissappear' even with locals in Tland

Like

Reply

Bruce *****

I get interest credited every six months but it’s only a small amount like everywhere else

Like

Reply

Graham ***********

Banks are commercial companies like any other. The interest rates they offer on particular types of accounts are set by commercial and competitive factors not some international law of being fair. Shop around and see what you can find that meets your needs.

Like

Reply

Stiaan ***********

ORIGINAL POSTER

@Graham **********

thank you. It was just weird to see zero interest over past 11 months on a 6 digit balance. Maybe now that we are settled in I should tryshop around d for another bank.

Like

Reply

Graham ***********

@Stiaan **********

I get some interest on a standard savings account at Bangkok Bank. Also check for charges and that the service will be there when you need it.

Like

Reply

Reply to

Graham ***********

Reply

John *********

Does not matter about work permit .should get interest

Like

Reply

Stiaan ***********

ORIGINAL POSTER

thank you. Maybe worth it to go to the bank and raise the non interest matter with them.

Like

Reply

John *********

@Stiaan **********

Like

Reply

Reply to

John *********

Reply

Stuart *********

Most savings accounts - which most foreigners have - are practically zero interest. You can get better rates using a fixed term deposit type account, but not if you use the banked money method for extensions.

Like

Reply

Stiaan ***********

ORIGINAL POSTER

@Stuart ********

thank you. If I understand you correctly, the 800k needs to be in a savings account but I could open an investment account (on O-A visa) that would give interest on additional money.

Like

Reply

Stuart *********

@Stiaan **********

You can open up any form of account on any form of visa - depending on whether that branch manager will let you. If they won’t let you open a specific account type try another branch or another bank.

Like

Reply

Reply to

Stuart *********

Reply

Thai Visa Advice and Everything Else

... members · 60% approval rate

The Thai Visa Advice And Everything Else group allows for a broad range of discussions on life in Thailand, beyond just visa inquiries.

Thai Visa Advice and Everything Else

View the Conversation

Thai Visa Advice and Everything Else

Which banks in Thailand offer the best long-term deposit interest rates?

34 comments

3 months ago

Can I convert my retirement visa funds into a fixed deposit account in Thailand?

29 comments

3 months ago

Why is it difficult to open a bank account in Thailand with a 90-day Non-O visa?

143 comments

4 months ago

Can I use the same bank account to maintain the 400k requirement for my non-o visa extension based on marriage in Thailand?

7 comments

6 months ago

Will splitting my required retirement visa funds across two banks affect my visa renewal in Thailand?

6 comments

7 months ago

How can I get a Type O retirement visa in Thailand without a Thai bank account?

116 comments

7 months ago

Will transferring my 800k to a different account in the same bank affect my Non O - Retirement visa?

12 comments

9 months ago

What interest can you expect from a Thai bank account?

89 comments

9 months ago

How can I open a bank account in Thailand without a long-stay visa?

27 comments

a year ago

What interest can I expect on bank accounts in Thailand for my visa requirement?

37 comments

a year ago

What are the typical interest rates for bank accounts in Thailand compared to the US?

49 comments

2 years ago

What should I consider before depositing 800,000 THB in a Thai bank for a retirement visa?

148 comments

2 years ago

Can I move my 800,000 THB to a fixed deposit account without affecting my visa extension?

19 comments

2 years ago

Can I place my retirement visa funds in an interest-earning account in Thailand?

10 comments

2 years ago

How can I earn yield on the 800k THB deposit for a retirement visa in Thailand?

69 comments

2 years ago

What are the best banks and accounts for expats to earn interest on visa deposits in Thailand?

27 comments

2 years ago

How Can I Open a Thai Bank Account with a Tourist Visa?

26 comments

2 years ago

What should I do if the balance in my fixed deposit account shows as 0 during immigration checks in Thailand?

21 comments

3 years ago

What are the steps for opening a bank account in Thailand without a work visa?

72 comments

3 years ago

What are the requirements for bank accounts when renewing an OA Retirement visa in Thailand?

7 comments

3 years ago

How can I successfully open a bank account in Thailand with an O-A visa?

112 comments

3 years ago

What are my options for opening a bank account in Thailand with an O-A visa?

15 comments

4 years ago

Can I use a fixed deposit account for the 800k requirement for a Non-OA extension in Thailand?

23 comments

4 years ago

Can I retire in Thailand with a Non-Immigrant O Visa instead of an O-A Visa?

0 comments

6 years ago

What are the experiences of expats opening bank accounts in Thailand?

15 comments

6 years ago

Data protection policy Terms and conditions Disclaimer Privacy policy Refund policy

The asq:thailand community, consisting of multiple Q/A groups with over 100,000 members, powers this platform. It is not an official government resource. Our members actively contribute to this resource, and while we strive for accuracy, we cannot guarantee its complete reliability. Assistance to travelers is provided as a community service.