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What type of thai bank account for 800k baht for extension to stay based on retirement (OA visa)


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Your lawyer and local Bangkok Bank gave you bad info. The requirement is just to have Bt800K in accessible funds in a Thai bank... you can live off that Bt800K "or other funds." I've been using fixed accounts for years for my retirement extensions of stay and the only time I ever touch the balance is when rolling it over to a new fixed account...and I roll the entire amount over.

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His Visa expired 21 August 2015.

All Immigration Offices accept Savings accounts.

A lot will accept fixed deposit and foreign currency accounts.

You will have to ask them.

"His Visa expired 21 August 2015."

My OA visa will expire in Aug 2016

Assuming the visa is still valid, as others have said, he could exit and re-enter anytime before August 21st and get another year's permission to stay without the need to apply for an extension of stay.

The only new twist would be that he would need a re-entry permit if he wants to exit and return to Thailand while preserving his permission to stay.

Also, as others have said, at most immigrations offices the requirement would be that the money is immediately accessible. How flexible the immigration office is on this point varies from one office to another.

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His Visa expired 21 August 2015.

All Immigration Offices accept Savings accounts.

A lot will accept fixed deposit and foreign currency accounts.

You will have to ask them.

"His Visa expired 21 August 2015."

My OA visa will expire in Aug 2016

Assuming the visa is still valid, as others have said, he could exit and re-enter anytime before August 21st and get another year's permission to stay without the need to apply for an extension of stay.

The only new twist would be that he would need a re-entry permit if he wants to exit and return to Thailand while preserving his permission to stay.

Also, as others have said, at most immigrations offices the requirement would be that the money is immediately accessible. How flexible the immigration office is on this point varies from one office to another.

From topic the OP posted last year "The visa was issued on 21 Aug 2014 and I entered Thailand on 13 Nov 2014." See: http://www.thaivisa.com/forum/topic/840086-o-a-visa-end-of-first-year-question/

He mistakenly called his current permit to stay a visa.

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800,000 Baht not the only option.

Having read the requirement for moving to Thailand many times. 800,000 Baht is not a compulsory option. You can have a verifiable 60,000 Baht a month income, which is about 3,000,000 Baht a year. You can have 800,000 Baht or more of investments, but this is risky and not recommended. You can find out all the options on the Thai Hull consulate website in the UK. It is more informative than their London Embassy and the English staff there are quicker, but clearer with answers to queries or questions.

The suggestions about using a forex company is a good option for maximising money transfer. Banks sting you twice once on the fee they charge and again on the interest rate they charge.

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800,000 Baht not the only option.

Having read the requirement for moving to Thailand many times. 800,000 Baht is not a compulsory option. You can have a verifiable 60,000 Baht a month income, which is about 3,000,000 Baht a year. You can have 800,000 Baht or more of investments, but this is risky and not recommended. You can find out all the options on the Thai Hull consulate website in the UK. It is more informative than their London Embassy and the English staff there are quicker, but clearer with answers to queries or questions.

The suggestions about using a forex company is a good option for maximising money transfer. Banks sting you twice once on the fee they charge and again on the interest rate they charge.

oops! Banks sting you twice once on the fee they charge and again on the exchange rate they charge.

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Kasikorn charge 0.25% max 500 Baht then if the branch is outside Bangkok 20 Baht per transaction and10 Baht per 10000 Baht transferred to a maximum of 750 Baht. To transfer the 800000 Baht from out with Thailand would be 1270 Baht.

Using the London Branch of Bangkok is one way but charges are still involved but doesn't cost anything to transfer the funds from your UK account to the Bangkok London branch of course you would lose out on the exchange rate.

Swings and roundabouts, only way of not being hit with charges etc is 'hand carry' the funds.

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His Visa expired 21 August 2015.

All Immigration Offices accept Savings accounts.

A lot will accept fixed deposit and foreign currency accounts.

You will have to ask them.

"His Visa expired 21 August 2015."

My OA visa will expire in Aug 2016

Assuming the visa is still valid, as others have said, he could exit and re-enter anytime before August 21st and get another year's permission to stay without the need to apply for an extension of stay.

The only new twist would be that he would need a re-entry permit if he wants to exit and return to Thailand while preserving his permission to stay.

Also, as others have said, at most immigrations offices the requirement would be that the money is immediately accessible. How flexible the immigration office is on this point varies from one office to another.

His Visa is not valid. It is dead. It has expired. Deceased. No more.

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All the information received is very much appreciated. I should have added that I am coming up in Aug 2016 to my 2 year usefulness from my original OA visa, so I will be transferring funds from the UK to cover the 800k bt requirement fairly soon (as the baht is strengthening against the GBP). Thanks again for the considered replies, I always find without fail that the posters provide useful advice/suggestions/recommendations.

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Regarding a poster's suggestion to open a current account, forget about it.

Be sure to ask clearly for a savings account, if you don't already have one, and subsequently for any fixed deposit account from the bank's menue that you fancy; it doesn't necessarily have to be for 12 months but can be for a shorter or longer period. Banks sometimes have a special offer at higher interest rate for a shorter or a longer period than 12 months. Just make sure that before the next application for extension is due, you have at least 800k Baht in the same account for at least three months. Complications can arise, depending on your local immigration office, when, after the expiration of a fixed term deposit, the bank opens a new book with a new account number for the new fixed term deposit. Some banks now allow a renewal of an expired fixed term deposit with the same account number and bank book at the new interest rate applicable at renewal time.

Thanks for the replies. Concerning the advice you give to open a savings account, presumably there's no need to wait for being on a non o/a to do this and a regular savings account could be opened beforehand at Bangkok Bank with just a tourist visa - this could be then used as a basis for opening a fixed term deposit later?

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Regarding a poster's suggestion to open a current account, forget about it.

Be sure to ask clearly for a savings account, if you don't already have one, and subsequently for any fixed deposit account from the bank's menue that you fancy; it doesn't necessarily have to be for 12 months but can be for a shorter or longer period. Banks sometimes have a special offer at higher interest rate for a shorter or a longer period than 12 months. Just make sure that before the next application for extension is due, you have at least 800k Baht in the same account for at least three months. Complications can arise, depending on your local immigration office, when, after the expiration of a fixed term deposit, the bank opens a new book with a new account number for the new fixed term deposit. Some banks now allow a renewal of an expired fixed term deposit with the same account number and bank book at the new interest rate applicable at renewal time.

Thanks for the replies. Concerning the advice you give to open a savings account, presumably there's no need to wait for being on a non o/a to do this and a regular savings account could be opened beforehand at Bangkok Bank with just a tourist visa - this could be then used as a basis for opening a fixed term deposit later?

An O/A visa can only be obtained from a Thai Embassy/Consulate in our own country of residence. To obtain the visa there is no requirement for any funds to be held in a Thai bank.

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Regarding a poster's suggestion to open a current account, forget about it.

Be sure to ask clearly for a savings account, if you don't already have one, and subsequently for any fixed deposit account from the bank's menue that you fancy; it doesn't necessarily have to be for 12 months but can be for a shorter or longer period. Banks sometimes have a special offer at higher interest rate for a shorter or a longer period than 12 months. Just make sure that before the next application for extension is due, you have at least 800k Baht in the same account for at least three months. Complications can arise, depending on your local immigration office, when, after the expiration of a fixed term deposit, the bank opens a new book with a new account number for the new fixed term deposit. Some banks now allow a renewal of an expired fixed term deposit with the same account number and bank book at the new interest rate applicable at renewal time.

Thanks for the replies. Concerning the advice you give to open a savings account, presumably there's no need to wait for being on a non o/a to do this and a regular savings account could be opened beforehand at Bangkok Bank with just a tourist visa - this could be then used as a basis for opening a fixed term deposit later?

Many Bangkok Bank branches will open a savings account for you with just a tourist visa, especially if you tell them that you are planning to retire here and use the account to move larger sums over in the very near future. You will want to see evidence of a local address in the Thai language -- here in Chiang Mai a business card from your guest house is proof enough and perhaps a reference known to them. Many people say this needs to be a "Thai person" as a reference, but I've served as a reference many times for people opening accounts at the Kad Suan Kaew branch of Bangkok Bank in Chiang Mai but I'm acceptable because I've had several million baht on deposit there for a number of years, have a retirement visa and am active in the local community. It doesn't need to be a Thai person providing the reference.

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As all Immi offices have their own pecurialities,why not go down to your local and ask.As for me,fixed deposit works fine,but they may need to see movement in another account.I always go prepared but they haven't asked me yet.

This is not good advice for Chiang Mai. They are unwilling to talk with "customers". At best, the interns will give you a badly written document with their "requirements" and if you insist on talking with an Immigration officer they will be in a hurry to get rid of you and won't commit to anything.

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As all Immi offices have their own pecurialities,why not go down to your local and ask.As for me,fixed deposit works fine,but they may need to see movement in another account.I always go prepared but they haven't asked me yet.

This is not good advice for Chiang Mai. They are unwilling to talk with "customers". At best, the interns will give you a badly written document with their "requirements" and if you insist on talking with an Immigration officer they will be in a hurry to get rid of you and won't commit to anything. Best to ask for specifics on the Chiang Mai Thai Visa forum.

The advice for Chiang Mai is that it'st OK to keep your 800,000 baht in an account you never touch (that's what I do), but be prepared to demonstrate how you support yourself if they're in a mood to challenge you. They've done that twice to me in the eight years I've been here "how do you have money to live because you never use this money?" First time was when I hadn't been here very long and was part of a conversation where the office was having fun testing my Thai language skills and we'd already run out of more mundane topics. The second time was more serious and more recent. In both cases, I pulled out documents about Hubby's retirement income, i.e. our U.S. federal income tax returns and other Bangkok Bank bank books which show the flow of his pension income. In both cases, when faced with documents being placed in front of them, they merely motioned for me to put them away.

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I can never understand this ruling about the 800k in the bank, what's to stop you drawing the money out as soon as you have the required Visa and losing it on the horses ?

Nothing at all.

The requirement is entirely retrospective, which is a common viewpoint in Thailand.

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  • 2 months later...

Did my retirement extension, last month at Nakohn Si Thammarat.

2 observations

- my term deposit matured in December 2014. The Bank book showed the maturing amount (principal + interest) going 'out' which left a zero balance. The same day, the same book showed a re- investment of the full amount, leaving my balance at 822,000 baht. They freaked out; just for a few minutes

- they were very insistent that I showed a savings account with 3 months of 'money in and out to live on' as they put it. This must be printed out by your back and certified by the m, in addition to the certifying letter you also need to present.

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I can never understand this ruling about the 800k in the bank, what's to stop you drawing the money out as soon as you have the required Visa and losing it on the horses ?

Nothing at all.

The requirement is entirely retrospective, which is a common viewpoint in Thailand.

I think gambling is illegal in Thailand. But you'd certainly have fun spending it on wine, women and song ?

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Let me tell you what happened to me. I have lived in Loei province for more than ten years. I use the Chiang Khan immigration office. I asked them if I could have a certificate of deposit for the 800,000 baht. The answer was that if I could withdraw the money at any time it was no problem. Everything went fine. THEN, Chiang Khan got a new woman boss. My certificate was no longer acceptable. I told the woman that it has always been fine before. She told me the money HAD to be in a savings account. Since I had no choice, I told her that I would put the money in my savings account the next day. That didn't work either. She said the money must be in the account for three months. I viewed that as super stupid because the money was in my name and account for several years. I ended up having to drive the 650 kilometers to the US embassy to get the income letter. A weekend was involved and I ended up with a two day overstay. I was fined a thousand baht for that. If you have a nasty immigration boss, they will make their own rules and you will have absolutely no say. I have been hoping someone would see how nasty this woman is and that she would be removed.

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You talking a "fixed" savings account when you say Certificate of Deposit? If so, a fixed savings account generally can be accessed immediately but a person does lose out on some/all of the interest earned to date.

I have used fixed savings deposit accounts for my retirement extension of stays at Bangkok immigration...no problem.

If you were talking a fixed savings account it's just goes to show again how all the immigration offices around Thailand just can't seem to follow the same higher headquarters rules....pretty much like bank branches around the country.

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A fixed savings account will work, as long as you can withdraw at any time – normally you loose the interest only by doing so.

#47/GaryA, I also in the beginning had my deposit in a so-called Fund Book, bonds that gives a slightly higer interest by Bangkok Bank staff recommendation, money could be withdrawn at any time and at disposal in cash the following bank-day. That worked fine with Immigration for some years, but suddenly they would not accept it – that's "investment" and includes a risk, so there is not 800,000 in the account – so I can move them, but ended up with no 3-month matured deposit; costed me a Visa-run to Malaysia and re-start of my retirement extensions from scratch.

Edited by khunPer
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My certificate was for 800,000 baht. Interest was paid monthly into a separate regular savings account. The 800,000 could be withdrawn at any time. The bank was very surprised when I took out the money and told them that immigration would no longer accept the certificate. I couldn't believe when the immigration boss told me the money then had to be in a savings account for three months. I view this as pure and simple harassment. I probably didn't do myself any favors when I told the nasty woman that I have never had any problems in all these years until she took over.

I should add that I am not the only farang who she hassled. Even 90 day address checks have gone backwards. I have to give them a copy of every page of my passbook. Fortunately my wife went with me the last time. I was told there was a problem with my address. I immediately got upset and my wife escorted me outside. My wife then spent 40 minutes filling out all sorts of papers. I have been at that same address for more than ten years.

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