Answered3 years ago
Can I transfer 800,000 baht into my Thai bank account in installments for my retirement visa?
I'm visiting Chiang Mai in October and I am retiring in March, so probably moving there in June. I am going to (probably unsuccessfully) try and get a bank account in October. If successful, can I move some money a bit at a time with the remainder of the 800,000 baht transfered in May or Jine, or does it need to be 800,000 all at once? I can do either, but it would be cool to throw in a few extra bucks in when I have it so I don't have to do it all at once. Does that make sense? Lol. Thanks in advance for the answers.
Answer summary
The original poster is planning to visit Chiang Mai and intends to retire in Thailand, looking for advice about transferring the required 800,000 baht into a Thai bank account for their retirement visa. Responses clarify that the 800,000 baht can be transferred in parts rather than as a lump sum, as long as the funds can be shown to come from an overseas source. Suggestions include opening a bank account with a tourist visa, considering cash deposits for better exchange rates, and utilizing monthly foreign fund transfers instead of a one-time transfer.
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Steve **********
Lot of ' account ' horror stories, been here over 20 and haven't seen one.
Bangkok Bank Chiangmai is very farang friendly .
Once here, settle in ,its easier to get things done.
Bangkok Bank Chiangmai is very farang friendly .
Once here, settle in ,its easier to get things done.
Steve **********
Or if retired, just have 65k transfered monthly to your Bkk bank. As long as your pass book shows FFT ( foreign fund transfer ) , your fine. Don't have to nest 800k
Gordon *******
Not easy to open up a bank account, that's why there's lots of posts about it every couple of days.
Sometimes best to use an agent to get the bank account open.
Sometimes best to use an agent to get the bank account open.
Brian ***********
I bring CASH. Wait for a good exchange rate and have s good exchange agent and get the best return on my dollars.. Can make a BIG difference. I would rather get the cash in my pocket , and leave the transfer costs behind.. just my style..
Brian ********
OP@Brian **********
in order to get a retirement visa 800,000 baht has to be transferred into a Thai bank account from a foreign source. Hard to do without a bank account...Brian ***********
@Brian *******
I've never done that. Just deposit cash. It can't be transferred from a local source. Keep your receipts of currency exchange .. never been asked for these myself.. Some offices may ask. Depends on where you are applying , maybe.. I've never done a transfer, ever , in 23 years.Wylie *******
You can get the bank account opened when you come in March. Despite what some may say you can open one on visa exempt or a tourist visa. One less thing to hassle with when you come back.
Steve **********
@Wylie ******
true, I didSteve **********
@Wylie ******
moreso, if coming to Chiangmai, opening accounts a care free process .Wylie *******
@Amel ********
I opened mine at Bangkok Bank on a tourist visa. You may have to visit different branches, regardless of which bank you choose. Some people may be able to recommend which branches of which banks are more likely to. The one I did it at is now closed.Amel *********
@Wylie ******
thanks for the answer - was it a long time ago? Some people say it is no longer possible...Amel *********
@Wylie ******
Thanks !Wylie *******
@Amel ********
it was a few years ago, but the people who claim it's not possible anymore don't know what they're talking about. This topic comes up quite frequently and there are always people that confirm opening one more recently. Ever since I've been here there are always people that claim it isn't possible or that there is a law against it, which there is not. It's up to each bank and even each bank branch.
Daniel ********
@Wylie ******
yes I would like to know also. Thanks.Amel *********
@Wylie ******
do you have any recommendation of bank that will open account on tourist visa or exempt stamp?Amel *********
@Kris *******
thanks for the answer Samut Songkhram is a bit out... I would prefer Bangkok...
Gio *****
Open two, one for the retirement and keep 800.000 two months before you apply and no less than 400.000 the rest of the time and the second one for ur day to day expenses
Paul *******
@Gio ****
According to what others have said, for now, you can basically move 800K over and keep using the same 800K every year for immigration purposes. Basically, don't touch what's in the account. Maybe do a couple of small transactions every year (while keeping the minimum balance at 800K at all times) and a second account can be used for day to day transactions.Gio *****
@Paul ******
I think you need to show at least 400.000 in this account
Graham ******
@Gio ****
But if maintains 800k then that will never be less than 400k
Brandon ************
It doesn't matter how you get to the 800,000. You just need to be able to show that it was transferred from overseas if you plan to apply for the non-O visa in Thailand.
If you plan to get the non-O from your home country before you travel to Thailand then this part isn't relevant because you don't have to show the money came from overseas for the 1 year extension.
If you plan to get the non-O from your home country before you travel to Thailand then this part isn't relevant because you don't have to show the money came from overseas for the 1 year extension.
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