I’ve 800k bath in bank transferred in correct manner to apply for retirement visa next year
Can I stash that into an interest earning product of the same bank for 6 months or does it have to lie in current account?
Thanks
776
views
4
likes
25
all likes
10
replies
0
images
2
users
TLDR : Answer Summary
The user inquiries whether they can place 800,000 baht needed for a retirement visa into an interest-earning product at their bank for six months. In the comments, it is clarified that the money can be kept in a standard savings account or a fixed-term account but must remain accessible at all times. Locked term accounts are not permissible. Additionally, if the user did not use a banked money method for their visa this year, the funds only need to be in the account for two months before applying for the extension next year.
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.
this comes up quite a lot, and you can keep the money in a standard savings account (the one that earns almost no interest)
OR
you can have it in a fixed/term account (that gets better interest) the caveat is, IF you use a fixed or term account you have to have access to the money all the time <- even if withdrawing it causes you to lose interest or get a penalty.
What you can't have it in is a "locked term" account where the deposit is frozen for the length of the term and you can't access it. That kind is not allowed
Now, if you didn't use banked money method for your visa/extension THIS year, you only have to have the 800K baht in your account for 2 months before you apply for the extension next year.
then you can do what ever you want with the funds until such time as you need to have it in the account for your Non-O visa and your year extension 2 months later.
To apply for the initial 90 day Non-O visa MOST offices only require the 800K baht in the bank on the date you apply (some require you prove it was transferred in from abroad and Jomtien requires it be in the account for 2 months before you apply)
The year extension you apply for AFTER you have the 90 day Non-O issued is the one that requires the banked money method funds to be seasoned 2 months before you apply (some offices say 3 but that is totally a FAKE made up rule that people won't challenge).
that Jomtien office is one of the few in the country that does require that 800K baht banked money method to be in the account for 2 months before you apply for the initial 90 day Non-O visa for 2000baht.