Ask question

Can I open two bank accounts in Thailand for my visa application and daily expenses?

Thailand Bank Accounts NON-O Visa Retirement Visa Expat Financial Management Thai Visa Extension Requirements

September 20, 2021

3 years ago

Dennis ********

ORIGINAL POSTER

Hi i am planning on moving over to thailand on non "o" 90 day visa then non"o"retirement visa in the future, my question is can i have two bank accounts in thailand(one with money in for retirement application 800,000 thb or above and just leave that account just for visa extentsions, just to be safe and dont need to touch) and another for day to day spending and bills etc.

i already have a thai bank account with Bangkok bank.

thanks

2,453

views

5

likes

57

all likes

24

replies

0

images

15

users

TLDR : Answer Summary

The user is considering opening two bank accounts in Thailand: one to maintain the required 800,000 THB for a retirement visa extension and another for daily expenses. Community responses confirm that having two separate accounts is a common and advisable practice among expats. It allows for easier management of funds, especially when applying for visa extensions, as it separates necessary funds from daily spending. Additionally, users mention the importance of the bank account used for visa purposes being easily accessible for official documentation while also noting that savings accounts in Thailand are insured up to one million baht per institution.

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.

Rob **********

Yes you certainly can, I do it that way, and would recommend it. Good luck with everything.

Like

Reply

Dennis ********

ORIGINAL POSTER

thanks everyone for the advice👍👍

Like

Reply

Robert **********

You can have 2 Thai bank accounts. I put the one for the immigration funds separate, it’s not accessible by ATM, though I can transfer to/from it online. It draws interest. I never touch it except to update the bankbook. I keep a little more than the minimum. Remember you must update the book and get a letter from the bank when you extend your stay, so time deposits, banks not at/near your immigration office–are problematical.

Like

Reply

Cambodia **************

Good to no

Like

Reply

Joseph *********

Yes, but keep in mind that savings accounts are only insured up to one million baht for each institution.

Like

Reply

Stuart *********

@Joseph ********

, hi, excuse my ignorance please i am new to this, I plan to do this when I retire next year( have 2 bank accounts, 1 for Visa and 1 i will have my regular pension and superannuation paid into) but I am not knowledgeable on this 1 million Baht insurance rule you mention, what are the implications please, I think I know, but I just want to be sure, Thanks😊

Like

Reply

Joseph *********

@Stuart ********

Also remember it is per institution, which means you shouldn't hold more than one million in each bank.

Like

Reply

Stuart *********

@Joseph ********

thank you, Jeff Lockwood infers you can have 2 separate accounts and the insurance is for each account, but you seem to think it is only for each bank EG ( 1 account in Kasikorn bank and 1 account in Bangkok bank) am I understanding this correctly? Please excuse my failure in this, but I need to make sure I have it right, ps I absolutely love this forum

Like

Reply

Joseph *********

@Stuart ********

Correct. No more than one million baht each bank.

Like

Reply

Stuart *********

@Joseph ********

awesome, thank you👍

Like

Reply

Reply to

Stuart *********

Reply

Jeff **********

@Stuart ********

it's the insurance that the government provides in case the bank goes out of business. If you have more than 1 million baht un the account and the bank goes out of business you lose the excess.

Like

Reply

Stuart *********

@Jeff *********

awesome, thank you👍😊

Like

Reply

Reply to

Stuart *********

Reply

Jeffrey ************

Yes, of course....

Like

Reply

Charles ********

That is exactly what I do. Easiest way not to screw up when it comes time to renew!

Like

Reply

Danny ********

You can even make an account in my name if you want..jk....happy retirement

Like

Reply

Wayne ********

yes because i did that but put more then 800k incas bank takes out bank charges and u drop below the 800k mark

Like

Reply

Martin *******

The account where you deposit the money for the retirement visa can even be in foreign currency.

Like

Reply

Kool *******

that is true, but not a good idea, as the value of your foreign currency is based on the day's exchange rate on the day of your application for extension, and that rate fluctuates. By using a regular baht account the amount never fluctuates.

Like

Reply

Martin *******

What you're saying supports what I said above. To kick start the economy they have to weaken the currency. That's why I put my 800k bath in a foreign currency account like CHF.

Like

Reply

Martin *******

that's right, you need to put a bit more in the account as a buffer. But I bet that there will be quite some devaluation on the bath to kick start the economy after the pandemic. A strong currency might be the better option long term.

Like

Reply

Kool *******

actually a strong baht hurts the export market, which is about 80% of Thailand's economy. A strong baht means foreign corporations pay more in wages, pay more for the goods exported, so move to cheaper economies. That happens constantly when dealing with commodities that are available in multiple countries. A simple one baht decrease in the exchange rate can result in a 10% drop in commodity exports, as that one baht adds up when you're dealing with hundreds of tons of export goods.

Like

Reply

Reply to

Kool *******

Reply

Andy ********

Yes you can and if you have the money to do so it is the best approach to take. It is the approach I personally take and for me it has two distinct advantages:

1. When I need to supply one years transactions I have only four. Two interest payments and the updates from last and current years application.

2. I don’t need to show an immigration officer my day to day spending habits. How much I spend at Lazada, money withdrawn from ATMs and direct payments from my bank account.

Like

Reply

James ********

A perfect plan for you. 😊

Like

Reply

Stuart *********

Many people have that exact set up. One account for the “extension” and another for their day to day stuff.

Like

Reply

Reply to

Stuart *********

Reply

Thai Visa Advice and Everything Else

... members · 60% approval rate

The Thai Visa Advice And Everything Else group allows for a broad range of discussions on life in Thailand, beyond just visa inquiries.

Thai Visa Advice and Everything Else

View the Conversation

Thai Visa Advice and Everything Else

Can I open two bank accounts under the same name for a retirement visa in Thailand?

31 comments

2 months ago

Will splitting my required retirement visa funds across two banks affect my visa renewal in Thailand?

6 comments

4 months ago

Can I use a new bank account with 800,000 Baht for my retirement visa extension in Thailand?

17 comments

4 months ago

Do my wife and I need separate bank accounts for the Non O retirement visa in Thailand?

41 comments

6 months ago

Should I open a new bank account in Pattaya for my Non-O visa needs?

20 comments

6 months ago

Is it advisable for expats to open a joint or separate bank account in Thailand when moving with a partner?

14 comments

7 months ago

Do I need separate bank accounts for my Thai visa deposit and daily transactions?

20 comments

a year ago

What are the steps to obtain a retirement visa in Thailand, and do I need to open a Thai bank account prior to applying?

83 comments

a year ago

Can I open a fixed deposit account while maintaining my retirement visa requirements in Thailand?

14 comments

2 years ago

Do my wife and I need separate deposit accounts for a retirement visa in Thailand?

2 comments

2 years ago

Can I open a bank account in Thailand with a 90-day visa while planning to apply for a retirement visa?

25 comments

2 years ago

Can I switch my bank account while on a retirement visa in Thailand without prior approval?

8 comments

3 years ago

Can I use two separate bank accounts to meet the 800k requirement for an OA non-immigrant visa extension in Thailand?

9 comments

3 years ago

Is it feasible to open a secondary bank account in Thailand for visa financial requirements?

10 comments

4 years ago

Is it advisable to use a separate bank account for visa-related funds in Thailand?

36 comments

4 years ago

Which bank should I hold my money in for a retirement visa in Thailand: Thai or UK?

43 comments

4 years ago

What Type of Bank Account Should I Open in Thailand for Long-Term Stay on a Non-Immigrant Visa?

8 comments

5 years ago

How can I open a bank account in Thailand without a long-term visa?

24 comments

5 years ago

How can I open a personal bank account in Thailand for a Non-O visa requirement?

9 comments

5 years ago

Can I use an existing Thai bank account for the retirement visa financial requirement?

0 comments

6 years ago

Can I split my 800k THB for my retirement visa renewal in Phuket into two bank accounts?

27 comments

6 years ago

Can I transfer funds from my home account to my Thai account for a retirement visa?

35 comments

6 years ago

Do I need to transfer my retirement visa funds to a Thai bank account, and can it be a joint account?

30 comments

6 years ago

Is it acceptable to hold 400,000 baht in two different bank accounts for a marriage visa renewal in Thailand?

2 comments

7 years ago

Should my partner open a separate bank account for retirement visa purposes in Thailand?

8 comments

a month ago

Data protection policy Terms and conditions Disclaimer Privacy policy Refund policy

The asq:thailand community, consisting of multiple Q/A groups with over 100,000 members, powers this platform. It is not an official government resource. Our members actively contribute to this resource, and while we strive for accuracy, we cannot guarantee its complete reliability. Assistance to travelers is provided as a community service.