Visa With 800,000 Baht

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Gaybutton
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Re: Visa With 800,000 Baht

Post by Gaybutton »

Dodger wrote: Sun Feb 23, 2020 3:30 pm I withdraw the total amount of my foreign deposits at Bangkok Bank on a monthly basis ...hop on my motorbike...take a 5 minute ride... and deposit the money in my Kasikorn Bank account
You mean you take it out in cash? That risks getting robbed. Don't you have online banking for your accounts? That way you could easily transfer the funds online, with no risk at all.
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Re: Visa With 800,000 Baht

Post by Dodger »

Gaybutton wrote: Sun Feb 23, 2020 4:18 pm
Dodger wrote: Sun Feb 23, 2020 3:30 pm I withdraw the total amount of my foreign deposits at Bangkok Bank on a monthly basis ...hop on my motorbike...take a 5 minute ride... and deposit the money in my Kasikorn Bank account
You mean you take it out in cash? That risks getting robbed. Don't you have online banking for your accounts? That way you could easily transfer the funds online, with no risk at all.
I don't think I'm permitted to do online money transfers from a "Direct Deposit" account, nor can an ATM be used. This type of account requires me to go to the bank and make withdrawals in person only. Once the money has been put in my Kasikorn account I can of course do online banking, ATM usage, etc.
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Re: Visa With 800,000 Baht

Post by Undaunted »

Dodger wrote: Sun Feb 23, 2020 5:27 pm I don't think I'm permitted to do online money transfers from a "Direct Deposit" account, nor can an ATM be used.
This makes no sense.......if you have online banking with Bangkok Bank it should be quite simple to do an online transfer from Bangkok Bank to Kaisikorn.......Suggest you speak to someone at Bangkok Bank!
"In the land of the blind the one eyed man is king"
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Re: Visa With 800,000 Baht

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Dodger wrote: Sun Feb 23, 2020 5:27 pm I don't think I'm permitted to do online money transfers from a "Direct Deposit" account, nor can an ATM be used.
Ok, now I understand. You're using the wrong term. It's not a "Direct Deposit" account. It's a "Receive Only" account. I have the same thing. That's how I receive money from Social Security. It's an anti money laundering requirement the USA came up with a few years ago and Bangkok Bank complied. That's why I had to open a "Receive Only" account.

You can simply open a second account with Bangkok Bank. That's what I do. I still have to go to the bank to access the money in the "Receive Only" account, but instead of taking it out in cash, I just have the bank transfer the money from the "Receive Only" account to my standard account. From there I can use ATMs or online banking.
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Re: Visa With 800,000 Baht

Post by Gaybutton »

Part of an article in today's Pattaya News ( https://thepattayanews.com/2020/02/23/t ... t-country/ ) says:
The Pattaya News wrote:The Minister of Tourism and Sports says that the COVID-19 outbreak has reduced the number of Chinese tourists by 90 percent and the number of foreign tourists has reduced by over 60 percent. He has called on Thai people to spend money as usual and shop and travel in Thailand.
I'll be happy to. Just give me access to my 800,000 baht . . .
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Re: Visa With 800,000 Baht

Post by Undaunted »

Gaybutton wrote: Sun Feb 23, 2020 8:57 pm Part of an article in today's Pattaya News ( https://thepattayanews.com/2020/02/23/t ... t-country/ ) says:
The Pattaya News wrote:The Minister of Tourism and Sports says that the COVID-19 outbreak has reduced the number of Chinese tourists by 90 percent and the number of foreign tourists has reduced by over 60 percent. He has called on Thai people to spend money as usual and shop and travel in Thailand.
I'll be happy to. Just give me access to my 800,000 baht . . .
Actually you have a valid point, so valid in fact that it is sure to never happen :!:
"In the land of the blind the one eyed man is king"
Jun

Re: Visa With 800,000 Baht

Post by Jun »

Gaybutton wrote: Sun Feb 23, 2020 4:18 pm You mean you take it out in cash? That risks getting robbed. Don't you have online banking for your accounts? That way you could easily transfer the funds online, with no risk at all.
1 Dodger is relatively careful, handling just one month's worth at a time. I brought several months worth for a holiday. The risk of getting robbed seems quite low here. The higher risk might be getting knocked off that motorcycle.

2 I think Dodger was fairly clear in saying they can specify what account the money has to go to, but as he doesn't like being told what to do, he chooses to move it to a different bank. Being stubborn myself, I like this.

Cash is underrated. Once states abolish it, they can track every transaction, impose negative interest rates, tax every transaction AND know how much you are tipping that Grindr lad.

Of course, Thailand might have some resistance to a cashless society, as all the money collected by the BIB is suddenly traceable.
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Re: Visa With 800,000 Baht

Post by Gaybutton »

Undaunted wrote: Sun Feb 23, 2020 9:47 pm Actually you have a valid point, so valid in fact that it is sure to never happen
Unfortunately I don't even have to think you're probably right. I already know you're definitely right.

Billions of baht could go right into the Thai economy, but nooooooooooo. Let's just make farang retirees keep that money tied up and untouchable. After all, if they have enough money to keep 800,000 baht in a Thai bank account, then they surely must have plenty more to just go out and spend, spend, spend . . .

I can hardly wait to see what the next genius idea will be.
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Re: Visa With 800,000 Baht

Post by Jun »

Gaybutton wrote: Mon Feb 24, 2020 8:48 pm I can hardly wait to see what the next genius idea will be.
Incidentally, some of the articles in the Bangkok Post are very critical of the geniuses in control of affairs here. Almost resembles a free press.

I'm fairly sure you won't have to wait too long for the next idea.
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Re: Visa With 800,000 Baht

Post by Dodger »

Gaybutton wrote: Sun Feb 23, 2020 5:52 pm Ok, now I understand. You're using the wrong term. It's not a "Direct Deposit" account. It's a "Receive Only" account.
Oops...Yes... it's a "Receive Only" account.

Your suggestion is a good one.

I actually thought of opening a second account at Bangkok Bank for exactly the reason you mentioned, but, right or wrong, decided against it. I just don't want to do any more business with them then I have to. And it's not a matter of getting stubborn in my old age, because I've always been like this... :lol:
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