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Can I Have Two Separate Bank Accounts in Thailand for Immigration Purposes?
Thai Visa RulesRetirement VisaBanking in ThailandFixed Deposit AccountsSavings AccountsInterest RatesImmigration Requirements
Mar 26, 2025
a year ago
John *********
ORIGINAL POSTERBanking question. I cannot get an answer from immigration:
I am fine putting ฿800,000 in a bank account . But I want to get decent interest. The bank tells me I can get a decent 2.4% interest in a fixed account. However, that money cannot be accessed by ATM or the banking app for things like making payments.
I don’t want to put the 800,000 into their savings book account because it only gets 0.25% .
Also, I want to have my deposit every month over the next 12 months so I can in one year get my 800,000 back
Question: can I have two accounts? One with a bank that is a fixed account that I put the 800,000 in and I do not touch for the year and I get 2.4%.
A regular savings account where I would deposit my 65,000 bought every month so in 12 months I can show that I have the pension and I can get my 800,000 back
Will that be allowed? Same bank just two different accounts. The savings account that I deposit my pension into I could then use for paying bills, etc., and withdrawal from ATM.
Or does everything need to be in one account?
Thanks if you have any relevant information .
I am fine putting ฿800,000 in a bank account . But I want to get decent interest. The bank tells me I can get a decent 2.4% interest in a fixed account. However, that money cannot be accessed by ATM or the banking app for things like making payments.
I don’t want to put the 800,000 into their savings book account because it only gets 0.25% .
Also, I want to have my deposit every month over the next 12 months so I can in one year get my 800,000 back
Question: can I have two accounts? One with a bank that is a fixed account that I put the 800,000 in and I do not touch for the year and I get 2.4%.
A regular savings account where I would deposit my 65,000 bought every month so in 12 months I can show that I have the pension and I can get my 800,000 back
Will that be allowed? Same bank just two different accounts. The savings account that I deposit my pension into I could then use for paying bills, etc., and withdrawal from ATM.
Or does everything need to be in one account?
Thanks if you have any relevant information .
TLDR : Answer Summary
The user is inquiring whether it's permissible to maintain two separate bank accounts in Thailand: one account with ฿800,000 in a fixed deposit for interest (with limited access), and another regular savings account for monthly pension deposits. Responses indicate that it is generally allowed to maintain both accounts, provided they are solely in the user's name. However, immigration policies on this can vary by region, so it's advisable to check with local immigration authorities to ensure compliance with their specific requirements.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
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David **********
Do your best but you have to write it off as the cost of doing business. The system has been severely abused since the beginning of time and the people who don’t game the system pays for it.
Keith *******
The THB
*****
0 has to stay in the bank three months before your visa application and three months after. There was a rule change I understand. That means for an annual OA retirement the money must stay in the account. You might be better proving the THB*****
every month which is what I'm exploring now. The downside of this though is the exchange rate. The upside is that one doesn't have THB*****
0 sitting idle in an account getting very little interest.Henrik *****
What is most important for you, get a long term visa to live in Thailand, or getting a couple % interest and live elsewhere.
It’s up to you, you can’t always get what you want !
It’s up to you, you can’t always get what you want !
John *********
ORIGINAL POSTER@Henrik ****
but if you are smart you can have both. Why not!Reply to
John *********
Reply
Jim *******
Why did you put 800K THB into that account? Sounds like to make what is mandatory for a retirement visa.
John *********
ORIGINAL POSTER@Jim ******
yes I need 800,000 in a Thai account for the retirement visa.Reply to
John *********
Reply
Dany ********
probably better to pay an agent 15-20k for the extension and invest the money elsewhere
Peter *********
Get an agent to it..i did.
Lisa ****************
Open your second account in your home country (high yield savings or investment) and likely earn more than 2.5% ... foreign ATM cards do work here 🙂
Todd *********
Now you understand why agents are a booming business. I get 7.75% currently in Mexico on govt backed deposits. Gives me the equivalent of 56,000 baht after tax withholding. More than covers the 15k baht agent fee for renewal. I don't need an agent anymore, but it's a smart move financially
Lee *************
First thing is to try open bank account, jump thru that hoop first.
Peter *********
Just get an agent..I did..perfect
Johnny ********
As Steve Daniels stated above, get another bank account. It's allowed.
Marie ***********
Apple for a retirment visa and show an i com letter from your pension company and save the 800k for traveling.
Tony **********
@Marie **********
only works if you embassy will verify your income. Many don't. They won't accept benefit letters from pension funds.Reply to
Tony **********
Reply
Dwayne ********
Didn’t know foreigners get any interest. I know I don’t get credit but luckily I have excellent US credit & credit cards from there.
Steve *********
Keep a separate bank accounts. Never touch the 800,000. 2nd account for monthly expenses, and 3rd account for travel/emergencies
Tony **********
The point of the 800k is that it is to be accessible and liquid for medical (and other) emergencies. I don't believe a fixed account would qualify since the funds aren't available to you.
Asso ******
@Tony *********
If this is really true, then my opinion of Thailand just dropped several levels. Is „medical emergency“ really the reason they expect you to have 800k? Why would you ever need it for a medical emergency? Any reasonable person has an insurance that covers medical emergencies and costs much less than 800K...Tony **********
@Asso *****
many over 70 (typical expat on a non-o) will find health insurance very expensive with many exclusions. If over 70, expect to pay about ฿15k/month and may find that many issues will be excluded as preexisting conditions. Insurance here is archaic.Reply to
Tony **********
Reply
Nongnuch ********
Some Immigrations accept fixed term accounts, but only if the deposit is immediately accessible (with an accepted by you loss of interest). You will have to ask your Immigration what they accept. Everything else doesn't matter. As a previous poster already noted: Forget the interest on monetary investment. Your investment is the opportunity to stay in Thailand longterm and profit from cheaper expenses of living and being able the breathe and live Thai culture. It cannot be measured in $money$
Alfred ***********
Ridiculous question. And yes withholding tax you can't claim back unless you file taxes which I'm assuming you don't if your worried about 20k ffs who cares.
Pom *************
Interest with 2.4 % = 19.200 (-tax 2900) With 0.25% you will get 2.000. So your net with the higher interest will be 1200 baht /month. Worth the headache ?
Todd *********
@Pom ************
why tax at 2900? The .25% is also taxed. 15,000 baht per year every year for as long as you stay for making a single transaction? obviously worth the 'headache' (there actually is no headache at all), unless you hate your own money. Better still, leave the money where u can get high interest and pay an agent. Get rid of ALL the headachesJohn *********
ORIGINAL POSTER@Todd ********
seems to me Thailand is cracking down on agents providing the money which is technically a violation of the law. I would not want to risk being in a situation where I don’t actually have the money in an account that I’m supposed to.Todd *********
@John ********
there is no crackdown. There is too much social media lol. And who exactly would be ‘cracking down’ on agents??? The same people who get the money. Maybe you hadn’t thought that thru. Business as always. You get a perfectly legal stamp via your agent. Same as always and same as many, many nationsReply to
Todd *********
Reply
Alfred ***********
Cheap Charlie
Frangipani *******
As is often the case, it depends on if your local IO lets you have the funds tied up in a Fixed Term account.
William ***********
2.4% is a bit less than 20,000 baht per year. If that’s going to derail your retirement then you should probably consider a different option. You could transfer the cash around to better paying accounts then return that as needed for immigration checks.
Ivan ************
@Wil****
it's not that it's going to derail anything but if you can get 20k and the account is acceptable to immigration, why would you not take it? There's very specific rules as to when the money has to be there with the full balance needed for almost half the year.Sounds easier and less stress to me to have a totally separate account for the 800k, earning interest, which you just leave alone.
Rather than moving money around and hoping you don't forget something or having an unexpected charge or direct debit bringing you down accidentally to 799,900 for 1 day (and yes they will reject for that).
Reply to
Ivan ************
Reply
Joe *********
I think you are stuck, just put the 800K in the savings account and don't worry about the <$600/year in 'lost interest'. Keeps your like with immegration simplier and worth every penny.
Alfred ***********
Just make life easy on yourself TIT. forget interest. Unless you pay taxes. Do what we all do and just keep money on any account forever. Sorry that's just the price you have to pay if you live here. And don't get me started on taxes please 🙃
Dave *******
Locking up your money with the bank for 2.4% ...Why bother with the bank. Just use your bank current account for everyday and bills
John *********
ORIGINAL POSTER@Dave ******
I have to put the 800,000 in the bank for a year. Not sure what you are suggesting. If I put that 800,000 in a savings account I get .025%
If I put it in a fixed account, I get 2.4% , though I can only take money out by going inside the bank to the teller and not through an ATM or wire transfer to pay bills
Reply to
John *********
Reply
Peter *******
Some of the answers confuse me. Here is what my experience over the last 20 years says.
Yes, you can have the two accounts as long as both are in your name only, not joint accounts.
You can have one account with the 800,000 baht in it for the entire year. There is no requirement to spend any of it. I have one friend that set his up 15 years ago and effectively forgets about it except at visa renewal time.
I went with the 800K for a few years and then, using the same account, started making monthly deposits and then withdrawing some or all as needed for living expenses.
Visa renewal time came up 14 months later and I switched to income.
Yes, you can have the two accounts as long as both are in your name only, not joint accounts.
You can have one account with the 800,000 baht in it for the entire year. There is no requirement to spend any of it. I have one friend that set his up 15 years ago and effectively forgets about it except at visa renewal time.
I went with the 800K for a few years and then, using the same account, started making monthly deposits and then withdrawing some or all as needed for living expenses.
Visa renewal time came up 14 months later and I switched to income.
Timothy *********
@Peter ******
are your monthly deposits direct deposits and are you taxed on them by Thailand?I am the money in the bank and forgotten about it x once a yr.
Peter *******
No, my monthly deposits are wire transfers from my U.S. bank. Even though wire transfers are a little more expensive than other means, I have complete control which is priceless to me.
No, none of my transfers have been taxed. But then they are all taxed in the U.S. and are covered by the Thai/US tax agreement. As an side, they are also all pensions.
No, none of my transfers have been taxed. But then they are all taxed in the U.S. and are covered by the Thai/US tax agreement. As an side, they are also all pensions.
Reply to
Peter *******
Reply
Robert **********
I have Back of Bangkok
I am going to look into it
I am going to look into it
John *********
ORIGINAL POSTER@Robert *********
that would be most appreciated. That is the bank that gave me the option of the .025% savings book or the fixed account at 2.4%.Reply to
John *********
Reply
Rod *********
Go and invest your 800,000 and hope you dont loose it and put it in a Thai bank before applying retirement visa but 400,000 must stay in that account
Keith *******
@Rod ********
thats not the information I have. Unless the information has changed again one requires the full THB*****
0 in the account. I'd appreciate any update here as I'm currently exploring my options.Rod *********
@Keith ******
go on the immigration web site all the information is there or employ an expensive visa agent. Your obviously not the sharpest tool in the shed..Reply to
Rod *********
Reply
Cliff *********
You cannot expect "decent interest" on a regular bank account.
The investment you are making is living long term in Thailand.
The investment you are making is living long term in Thailand.
John *********
ORIGINAL POSTER@Cliff ********
I am simply talking about the 2.4% interest they give on a fixed account as opposed to the 0.25% interest on a savings accountDavid *********
@Cliff ********
how about goldReply to
David *********
Reply
Sven **********
***************************************************************************************
- SCB EZ Savings 1,5%, monthly interest/taxJohn ******
@Sven *********
nowhere mentioned in that paper 1,5% MONTLY but 1,5% each year !Sven **********
@John *****
monthly interest paymentReply to
Sven **********
Reply
Patrick *********
Probably depends on where you are.
Jomtien immigration accepts fixed deposit accounts. I use Bangkok Bank (the orange bank book, not the blue one). Receiving interest once per year on the day of the initial deposit.
Jomtien immigration accepts fixed deposit accounts. I use Bangkok Bank (the orange bank book, not the blue one). Receiving interest once per year on the day of the initial deposit.
Max ******
@Patrick ********
what is the difference between blue and orange book?Patrick *********
Blue= regualr savings account, with e-banking & ATM
Orange'= time deposit, no ATM, cash withdrawal only at Bank counter, an only the same province it was opened
Orange'= time deposit, no ATM, cash withdrawal only at Bank counter, an only the same province it was opened
Reply to
Patrick *********
Reply
John **********
It depends. The money can be in a term deposit as long as you can get instant access to the money, even if that means you get penalised for doing so. It can't be in a term deposit where you can't access your money for any period of time
Reply to
John **********
Reply
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