Answered3 years ago
Can I use a foreign currency account to meet the financial requirements for a 50+ visa in Thailand?
Anyone with 50+ visa? does money held at local bank can be in foreign currency (Eur/$)? or must it be converted to BHT? Tnx
update from responses
its possible to have a foreign currency account balance shown to immigration, to qualify the requirements.
some responses indicated that it depends in the immigration policy of the specific region, so best is to check with them.
oh, and, perhaps, if the exchange rate changes this could lead to not stand in the needed amount, so such choice needs attention.
one last thing is that only Bangkok bank and KBank allow foreign currency account...
good day everyone and thank you to those who contributed useful information from personal experience.
update from responses
its possible to have a foreign currency account balance shown to immigration, to qualify the requirements.
some responses indicated that it depends in the immigration policy of the specific region, so best is to check with them.
oh, and, perhaps, if the exchange rate changes this could lead to not stand in the needed amount, so such choice needs attention.
one last thing is that only Bangkok bank and KBank allow foreign currency account...
good day everyone and thank you to those who contributed useful information from personal experience.
Answer summary
The discussion addresses the possibility of using a foreign currency account to meet the financial requirements for a 50+ visa in Thailand. It is confirmed that some immigration offices may accept a foreign currency deposit account (FCD) as valid, but this often varies by location. Respondents emphasize the importance of being aware of exchange rate fluctuations, as the required amount in Thai Baht can change daily, potentially leading to complications if it falls below the mandated amount. Bangkok Bank and KBank are noted to allow foreign currency accounts. It is recommended to consult the local immigration office for specific acceptance of this account type.
45 repliesnewest first
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Brian ***********
Any currency
Steve **********
@Brian **********
Don't know, just asked about USD, as am US
Einat *******
OP@Brian **********
you for the responding! Do I understand you correctly that you received your 50+ visa while holding your money in a local bank in thailand, but had it still in foreighn currency WITHOUT converting it to THB... ? tnks!Brian ***********
@Einat ******
yes
Geo ******
You need to research more
Tony ********
While i see some people saying it is acceptable at some offices, i didnt read a comment that someone actually uses that method. The requirement is 800k @ 400k baht, it doesnt mention or equivelant. Surely any bank statements would be in the foreign currency not baht, so who is expected to do the 365 daily calculations on the appropriate exchange rate for each day to ensure it didnt drop to 799k or 399k or below depending on the specific month of the year?
Einat *******
OP@Tony *******
you are right...it might be a source of trouble, but yet...the THB is weakening for years by now in an ongoing process...Steve **********
Bangkok Bank has a Foreign Currency Account.
I had for about a year many years ago, dint know why.
Conv, cancelled
I had for about a year many years ago, dint know why.
Conv, cancelled
Stuart *********
A FCD account can be used for the financial requirements. Perhaps not by all offices, so check with yours.
Also be very aware of currency fluctuations. The same rules would apply just as if it were a THB account in that there would have to be the equivalent of 800k two months prior to the application date and three months after the extension date. And cannot drop below 400k for the remainder of the year. Depending on the exchange rate on the day you apply they will check that you have met the requirements.
Also be very aware of currency fluctuations. The same rules would apply just as if it were a THB account in that there would have to be the equivalent of 800k two months prior to the application date and three months after the extension date. And cannot drop below 400k for the remainder of the year. Depending on the exchange rate on the day you apply they will check that you have met the requirements.
Einat *******
OP@Stuart ********
thank you for this value-able information.
Jake *********
@Stuart ********
thank you. very usefull
Sandra ***********
google can be your best friend
******************************************************************************************
Nick *******
You studied at a business school, and you can't even work this out? No hope.
Juls ******
Local bank, local money.
What a question !
What a question !
Steve *******
@Juls *****
The OP could use a FCA. Many Immigration Offices except that.Juls ******
@Steve ******
the solution is define by the exchange rate
Bob **********
Yes if your foreign currency adds up to 800k they will accept it
Einat *******
OP@Bob *********
thank you so much for your response!
Michael **********
They might have personal safes
Steve *******
THB
Kool *******
Actually, contrary to the others commenting, if you have a FCD, foreign currency deposit account, with a Thai bank (mine is with Bangkok Bank), you can use the foreign cash in that account, but be fully aware that immigration goes by the exchange rate on the day you apply, and that rate varies daily, so what was equivalent to bt800,000 one day might not be the same on different days, so be fully aware all the time of the actual value of your foreign currency in Thai baht, because if the value drops at any time below the visa extension required amounts you could be in trouble.
Einat *******
OP@Kool ******
thank you so much!! thats valueable response, finally
Marty *********
@Kool ******
Why anyone would consider depositing exactly 800,000 baht to meet immigration requirements without having a substantial buffer on top of it to account for currency exchange rate fluctuations and mysterious unexpected banks fees is beyond my thinking.
Graham ******
@Kool ******
Correct, and some Immigration Offices might not accept a foreign currency account so the OP needs to ask their local Immigration Office not as a FB GroupEinat *******
OP@Graham *****
thanks!! thats a good idea to ask them .
Ian *****
You mean the 800k THB......?
Luigi ***********
Terrible questions that make no logical sense at all.
Steve *******
@Luigi **********
Of course it makes logical sense, if the OP has a Foreign Currency Account
Vinn *********
russian rubles
Lee ******
? Bhat of course ?
John ********
THB
Graeme **********
Are you serious or just taking the piss. Think about it😝
Charlie ******
Japanese en ¥
Einat *******
OP@Charlie *****
thank you for the responding! Do I understand you correctly that you received your 50+ visa while holding your money in a local bank in thailand, but had it still in foreighn currency WITHOUT converting it to THB... ? tnks!
James *******
@Graeme *********
It's a good question if he has multi currency account.Graeme **********
@James ******
is there such a thing in ThailandEinat *******
OP@Chris ********************
thanks for clarifying.
Chris *********************
@Einat ******
no has to be in bt.i was only replying to someone comment, about Sterling accounts. For the retirement visa it has to be thai bahtEinat *******
OP@Chris ********************
thank you for the responding! Do I understand you correctly that you received your 50+ visa while holding your money in a local bank in foreighn currency WITHOUT converting it to THB... ? tnks!Chris *********************
@Graeme *********
yes sterling account foe uk,
Rob **********
@Graeme *********
yes it is called a FCD or foreign currency deposit account, most banks offer themJames *******
@Graeme *********
Yes, many banks offer them honey.
Manfred **********
THB
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