savings account

[Dallas]

Was just wondering if I should and if so how will this work......I will return to Thailand on the 14Th of November and this will be my third trip. I plan on making this trip twice a year and when I'm there I would like to start a savings account that I can add to each time I visit Thailand.

Does anyone see a problem with this?

Some impute would be greatly appreciated.

 

I have some time(14 years) before I can retire and Live in Thailand like some of you, But I just thought it would be great if I can start saving money now.

 

Once again thanks.

Edited September 13, 2007 by Dallas

[Gonzo]

Was just wondering if I should and if so how will this work......I will return to Thailand on the 14Th of November and this will be my third trip. I plan on making this trip twice a year and when I'm there I would like to start a savings account that I can add to each time I visit Thailand.

Does anyone see a problem with this?

Some impute would be greatly appreciated.

 

I have some time(14 years) before I can retire and Live in Thailand like some of you, But I just thought it would be great if I can start saving money now.

 

Once again thanks.

I opened a savings account with the Bank of Ayudhya on South Pattaya Road near the Friendship Supermarket. All I needed was my passport with a tourist visa. It cost 300 THB to get an ATM Debit card, which I had to pick up a week later.

 

A few month ago I opened another savings account with the Kasikorn Bank. Again, all I needed was the passport and an address in Thailand. I got the ATM debit card on the same day. The Kasikorn Bank has very good Internet banking, which I use to transfer money from my bank account in Australia and to other people's accounts. The Kasikorn Bank has many branches in Pattaya and Bangkok.

[joekicker]

Some or most banks won't open an account, but you can find one what will. Savings accounts pay virtually no interest and only are a place to park money, nothing else.

[BBB]

Is there any accounts you can put your money into that pay a reasonable interest rate.

[Kev]

Is there any accounts you can put your money into that pay a reasonable interest rate.

Not in LOS I'm afraid, only in your home country maybe.

[Eneukman]

Is there any accounts you can put your money into that pay a reasonable interest rate.

 

Yes, you can - BUT you would need to tie your money up for a fixed period such as 6 months or longer.

 

The standard savings account does pay interest, but at a very low rate.

 

Alan

[ben99]

http://www.kasikornbank.com/GlobalHome/EN/...rate_saving.jsp

[joekicker]

Yes, you can - BUT you would need to tie your money up for a fixed period such as 6 months or longer.

 

No. Not in a savings account. For six months or even more, you won't make back cost-of-living rise.

[torrenova]

With inflation in Thailand far in excess of any fixed term deposit here, you cannot put money in an account and have it keep its value.

 

Leaving some here for your next trip is handy as is occasionally sending money over which you will use in the near future. There is also rationale in sending money over as a savings exercise for your next visit but not for long term financial planning.

[joekicker]

Exactly right. Park your money by all means, but do not expect to see it grow.