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

Retirement VisaBank RequirementsFixed Deposit AccountsThai Banking RegulationsExpat Finances
September 22, 2024
a day ago
Chan ******
ORIGINAL POSTER
It is required to have 800,000 baht to be kept in bank for applying retirement visa, now money is deposited in saving account, anyone knows :

1. If money can be used to open fixed desposit account or called term deposit account in the same bank? (Retirement visa applied in Bankok now)

2. If money can be transferred to another bank, for example, Siam Commercial and then open fixed/term deposit account? (Retirement visa applied in Bankok now)

Thank you so much.
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TLDR : Answer Summary
The query relates to the requirement of having 800,000 baht in a bank account for a retirement visa in Thailand. The person asks if this money can be used to open a fixed deposit account or transferred to another bank for the same purpose. Responses suggest confirming with local immigration offices, as some only accept instantly accessible accounts like savings accounts for visa purposes, while others have varied policies concerning fixed deposits. Additionally, discussions highlight differing opinions on the interest earned on such accounts and the conditions around accessing funds.
NON-O RETIREMENT VISA RESOURCES / SERVICES
  • Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
  • For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
  • Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
  • Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
Deb ********
Is that per person or per couple?
a day ago
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Graham ******
@Deb *******
 Per person over 50 or just for one if the spouse can get a trailing spouse Visa which is not available from inside Thailand
a day ago
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Graham ******
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Simon *******
I used an agent that sorted the money out for me,left my money in UK account earning about £1000 interest a year more than covers any agent fees.
a day ago
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Christopher *************
@Simon ******
 yes trouble is your locked Intoi that agent, unless you leave country when visa runs out and start a different visa ---
a day ago
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Todd *********
@Simon ******
 yup.

That’s why so many agencies are going solid business
a day ago
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Todd *********
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Bob *********
Dream on. Your moving 800,000 baht to Thailand for a visa. You are not going to get much interest. If you want to keep the money in your home country get a DTV visa for a boxing, Thai language, or cooking class.
a day ago
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Tony *********
@Bob ********
 - not true..you get interest on the savings accounts at most banks. It's relative to the base rate currently 2.5 %
a day ago
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Todd *********
@Tony ********
 not true for most. 1- good luck getting 2.5%. 2- your office needs to accept that type of account. Most don’t
a day ago
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Tony *********
@Todd ********
 - I never said I get 2.5% I said it's the base rate. I think it's 1.5 to 2% I can't remember.

Either way it's some interest better than nothing on a large amount. You are wrong about the savings accounts it's actually encouraged by Immigration but it needs to have instant access.
a day ago
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Todd *********
@Tony ********
 sorry you are wrong. It’s most assuredly NOT ‘encouraged’ lol. Every office treats this differently and that’s well known. If you like 1% on your money, great 🥂
a day ago
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Tony *********
@Todd ********
 - yeah been told by 2 different offices so I think it's you giving 💩 advice.

As for the 1.5 % to 2% what exactly don't you understand about it being better than nothing?
a day ago
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Todd *********
@Tony ********
 lol. There are over 80 offices.. give your head a shake. It’s well known.

As for the interest, if you think 1% is good, you go right ahead and keep your 800k there.
a day ago
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Tony *********
@Todd ********
 - hilarious...clearly you can't read you keep claiming things I never said :

1.

I never mentioned 800k but you did

2.

Everyone knows you have to retain 400k unless married.

3.

I said 1.5 - 2 % is better than nothing but somehow in your confused state of mind you keep mentioning 1%. You obviously like creating drama when there is none you must be so bored with your life.

Maybe you should stay off the pop for a while and read what people actually say and try not to twist things and make up quotes that were never there 😂
a day ago
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Billy ******
@Tony ********
 some posters on this forum are no better than trolls. The majority offer sound advice or opinions, but some are nasty.
a day ago
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Tony *********
@Billy *****
 - totally.

I am so sick of these loser expats I am at a point of not bothering to post anymore. Makes me wonder what they do each day clearly bored otherwise why would they bother with their pointless nasty rhetoric?

I expect they are the type in the bars every day pissing it up. That loser above clearly must always have the last word and quite frankly everything he's said is utter bull 💩

We live in a very sad world these days. Thankfully most Thai people are kind and friendly unlike a lot of the arse holes on these expat sights 🙄
a day ago
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Todd *********
@Tony ********
 this is what we call delicious irony 😂😂😂
a day ago
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Tony *********
@Todd ********
 - you are a boring idiot who is clearly a nasty piece of work.

It's a shame Thailand allows morons like you into the country and I'm sure if Immigration knew what you are like you would be on the first plane back to where you came from the permanently banned. Thailand and the Thai people deserve better than creatures like you!
a day ago
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Todd *********
@Tony ********
 😂 Again - too stupid to even comprehend the irony.
a day ago
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Todd *********
@Billy *****
 tony can help you find 1.5% interest if you wish.
a day ago
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Billy ******
@Todd ********
 money isn’t a worry for me, but you’re still an unhelpful troll 😎
a day ago
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Todd *********
@Billy *****
 great help you have offered here with your trolling Billy. 👏🏼👏🏼 you two must have studied irony together
a day ago
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Billy ******
@Todd ********
 rolling? Leave off the drink 😂
a day ago
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Todd *********
@Tony ********
 😂 1. Sort yourself out. 2. Low interest is low interest. If you like it, great. Frankly, most people aren’t that stupid. 3. The cash requirement is the cash requirement. Most of us don’t need to rely on our wives for visas. 4. Look at your life ol boy. Ur boring. And lost. Best of luck - you need it far more than I 👋
a day ago
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Todd *********
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John **********
As long as the money is instantly accessible, even if that means you lose interest
a day ago
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Peter ****************
Think checking with BKK imm. Office is the best advice. Maybe also ask Tod Daniels from the group Thai Visa Advice. He is very connected to imm. BKK. I have a fixed deposit account at Kasikorn only to get a real mastercard. When I asked "can I put the money back to my savings account?" they told me, "no problem, but you lose the intrest".
a day ago
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Jo **********
@Peter ***************
 Tod Daniels is king 👑
a day ago
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Jo **********
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Phil ******
@Chan *****
 ask your local immi
a day ago
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Nick ************
My office will also only accept instant access accounts. The reason being that in an emergency you would have access to the funds.
a day ago
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Pete *******
Check with your local immigration office what they will accept. Mine only accepts instant access accounts.
a day ago
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Pete *******
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