Answered2 years ago
Can I use a new bank account with 800,000 Baht for my retirement visa extension in Thailand?
Hello. I hold a non-0 annual extendable retirement visa. I have had a bank account with 800+ in for 2 years to satisfy immigration requirements. I want to change banks and have already opened another account in April with 400k in. Can I just simply add another 400k to my new account 2 months before I apply for an extension due on December 12 or do I have to show both accounts. Basically I want to use the money in my new account for visa purposes but I won't have 12 months statements to show them from my new account. I want to ideally close the original account and withdraw and transfer the 800k to my new account but don'twant to screw up my visa extension process. Thanks
Answer summary
The user holds a NON-O annual extendable retirement visa and wants to know if they can transfer funds into a new bank account for visa requirements. They currently have over 800,000 Baht in an old account but wish to close it and use the new account opened with 400,000 Baht. Responses suggest maintaining 800,000 Baht in the new account for two months before the extension application, while also possibly showing something in the old account during the transition.
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Brook ********
I asked the same question a few weeks ago. The answer, which may depend on the individual Immigration Office, was to move ฿40x,000 to the new account first, then the other ฿400,000 a week later.
Of course you do this outside of the required balance periods.
In my case I was looking for a higher interest rate.
Of course you do this outside of the required balance periods.
In my case I was looking for a higher interest rate.
Lee ***********
@Brook *******
what best rate did you find pleaseBrook ********
@Lee **********
2.5% APR for 48 months
Barry ********
OP@Brook *******
I thought you did but couldn't find your post. Did you have to show bank statements for both accounts to cover the 12 month period between visa applications? ThanksGiorgio *********
I think the best thing to do is to go ask at the immigration office.
Barry ********
OP@Giorgio ********
thought I'd try here first in case anyone has had similar experience of this 😀Giorgio *********
@Barry *******
be aware that every office have own rules.Kool *******
The same as the first year, you need to show them that the bt800,000 was in the account for three months after you received your one year extension stamp, and that the balance never dropped below bt400,000 for the rest of the year in that account you used. For the new account, to switch over, you will need to show bt800,000 in that new account for at least two months before you apply for your extension. To switch over you basically need bt400,000 in the old account, and bt800,000 in the new account at the same time. You might also ask your local immigration, as they might have a better way.
Barry ********
OP@Kool ******
good answer thanks, so using your maths, I'll need 2 bank statements and 2 letters when I apply for extension in December right ?Kool *******
@Barry *******
yes, but go and ask your local immigration office to make sure, and it's a good idea to do it now, so you aren't dealing with fast approaching time frames.
Andreas *********
this would be a nice step, but it won't happen. Thai government might rather rise the 800.000.- THB requirement to 1 million in the future
Barry ********
OP@Andreas ********
still I’d settle for 200k et tu ?
Colin *********
@Andreas ********
probably an accidental typo that wasn't picked up. You know what all those zeros do to the eyesAndreas *********
@Barry *******
😂🤣 lucky only IF it was correct what Kool Breez wrote. The financial requirement for these "grandfathers" has always been 200.000.- THB and not just twenty-thousand Baht 😂Barry ********
OP@Kool ******
lucky themKool *******
@Barry *******
with most long term visa extensions the rules don't change once you are on them, and there are no breaks in keeping them. As an example there are still a few Vietnam vets that are still on retirement extensions when the financial requirement was just bt20,000, and it still applies, as they've never had a break in keeping them.Barry ********
OP@Kool ******
good thinking but the danger is if I ask them now, things could change by December 555 TITActivity
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