Retirement Visa. 800k only in 1 account

[telboybk]

I've searched but couldn't find anything.

 

My question is does the 800k in a Thai bank have to be kept on one account? My money is spread over 5 accounts in two different banks.

 

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[skatewash]

Probably it is in everyone's interest for there to be a single account at a single bank.

 

Otherwise, you will need a separate bank letter from each bank and possibly even each account.  You will need to obtain bank statements for each account or provide copies of the passbooks involved.  Your Immigration Officer will have to get out the calculator to add together all your bits and pieces of the 800,000.  If I were an immigration officer and someone brought in something like that (meaning anything other than a single bank account) I wouldn't be especially happy.  I don't think it's likely codified in the rules and regulations, but common sense would dictate that it's probably not a very good idea.  

 

Also, probably not a good way to endear yourself to the people waiting in line behind you to get their extensions of stay.

[ubonjoe]

There is no rule that it has to be in one account. But some offices may only accept one account or some might say 2 is OK. But 5 accounts may be to many at most offices.

[sumrit]

The 5 accounts must also all be in your sole name.

[telboybk]

The 5 accounts must also all be in your sole name.

They are.

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[skatewash]

Upon further reflection, it's even worse than I thought initially.  The Immigration Officer would have to go through each of the five accounts looking for the lowest balance during each relevant period, which would be each month.  He would have to tally the minimum balances for all five accounts for each of the twelve months in the year.  So, at a minimum 12 different sums of 5 numbers.  Once he determined the minimum balance per month across all five accounts he would have to apply the relevant threshold (800,000 or 400,000) to each month to see if you met the requirement.

Short answer, if I were your Immigration Officer you wouldn't be getting an extension of stay from me.  I think he would have the sympathy of everyone else in the office, too.  It's like going to the police station to pay a fine for not wearing a helmet and showing up with a bag of 50 and 25 satang coins.  Not strictly illegal but a very, very bad idea. ????

Edited February 16, 2019 by skatewash

[elviajero]

2 hours ago, telboybk said:

My question is does the 800k in a Thai bank have to be kept on one account? My money is spread over 5 accounts in two different banks.

There is no definitive answer, but you are definitely pushing your luck using 5 accounts. You should check with your local office before you apply so you can move the money in time if they say no.

[madmitch]

I have used two accounts on previous extensions with no problems at Phuket.

 

I'm considering opening an interest earning account with 400,000  baht in after my 800,000 has reached remained for three months after my next extension. That 400,000 would sit there and I wouldn't have any worries about dropping below the threshold. I'd just have to live more frugally than usual during that first year.