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Answered2 years ago

Can I withdraw my funds from a Thai bank account after meeting retirement visa requirements?

Sue **********
asked Sep 30, 2024
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Advice needed please.

I am in Thailand on a Non-Res O visa 90 days & changing to a Non Res O retirement visa in November.

1. Plan on getting a bank account in Chiang Mai early next week.

2. Initially I will put in 65000 month until 15 days before expiry of current visa then top it up to 800000 baht.

Objective; Eventually I want to just do the monthly deposit & not leave 800000 in a low interest situation.

Question 1. if I make the bank balance up to 800000 baht before November AND continue paying 65000 month, am I able to draw out the full 800000 at some point to return it to home country?

Question 2. Can I use the money in this account to live on?

Thanks
Answer summary
The poster is transitioning from a Non-Res O visa to a Non-Res O retirement visa. They plan to deposit 65,000 baht monthly until their visa expires, after which they wish to top up to 800,000 baht in their Thai bank account. Key points discussed include: 1) The requirement to maintain 800,000 baht in the account for two months before applying for a visa extension; 2) Clarifications that the 65,000 baht will not count towards this requirement until proof of a full year of deposits is established; 3) Rules about withdrawals, specifically that after a successful extension, only half of the 800,000 baht can be accessed at any time.
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Kevin ******
Kevin ******
I thought the 65k was just a proof of income certified by say your embassy? Do we need to literally deposit the 65k in thai bank account?
Bob ********
Bob ********
I believe Canadian Embassy in Bangkok does offer this service. I think you can visit their site for further details
Kevin ******
Kevin ******
Sent you a message on Line
Kevin ******
Kevin ******
@Bob *******
he sunshine. How are you? Are you sure? I will call you if you don't mind to discuss. I am in Istanbul, Turkey right now, fly to bkk tomorrow
Bob ********
Bob ********
safe travels my friend. call or message me anytime
Lynnette *******
Lynnette *******
@Kevin *****
very few embassies will certify income.
Kevin ******
Kevin ******
@Lynnette ******
i kinda agree with you. This is not part of Embassy's function. So the question is, why Thailand ask for this specifically lol
Lynnette *******
Lynnette *******
@Kevin *****
because you have a choice of embassy certificate if available or deposit it every month for 12 months
Chris *******
Chris *******
@Kevin *****
that is one possibility if your embassy endorsed it.
Henrik *****
Henrik *****
The 65.000 baht option, will not be possibel the first year for most applicants.

Untill you have proff of one year monthly deposits of at least 65.000 Baht, you cant use that option.

And be prepared that you don’t just walk into a bank and get a bank account easily.

They want to see you have been staying at least 3 month on a long term visa, before they would even consider giving you a bank account.

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Damo ***********
Damo ***********
Assuming you are getting a retirement extension of 12 months in November?

-800k thb has to be in the account a full 2 months before applying for the 12 month retirement extension (so, had to be in there SEPTEMBER).

-You can continue to deposit your 65k (shown as International Transfer) and withdraw it straight away and spend it.

- you need 12x of these 65k monthly deposits before you can touch the full 800k.

- 3 months after successful 12 month extension you can withdraw and spend some of the 800k thb, as long as it does not go below 400k thb.

Suggest you read up more on official Thai Embassy websites.

If you want to get around leaving the 800thb in a Thai Bank, suggest you go look for a Visa agent.
Graham ******
Graham ******
@Damo **********
You will not get information regarding Non-O extensions from an Embassy website. The information is obtained from the local Immigration Office where the extension application will be made as requirements can differ.
Sue **********
Sue **********
OP
@Damo **********
again I can’t find where I have to deposit 2 months in advance on the official website
Damo ***********
Damo ***********
@Sue *********
sorry Sue.. I have been corrected.. the 2 month period of the 800k is not in embassy website.. I have attached a website from Siam Legal which should clear up any queries.. The 2 months period 'does' exist 🙂

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Rene ********
Rene ********
Rene ********
Rene ********
It doesn't get clearer
John **********
John **********
I've no idea what Res O is so I assume it's a typo and you actually mean a Non-O 90 day visa based on retirement?

That being the case you need to have 800k in your Thai bank for 2 full calendar months prior to applying for a 12 month extension of stay.

The 65k is irrelevant at this point but if you have a full 12 months of transfers from overseas you can use that for your subsequent extensions
Sue **********
Sue **********
OP
@John *********
I can’t see the info where the deposit is to made 2 months prior to applying
Brandon ************
Brandon ************
@Sue *********
whatever you have here doesn't matter. Only your immigration office requirements matters. And that's 2 full months in the bank at the time of applying for your extension
Sue **********
Sue **********
OP
Yep got it now thanks heaps
John **********
John **********
@Sue *********
That doesn't look like the requirements for an extension of stay based on a Non-O visa, rather it looks like the requirements to apply for an initial Non-O visa but you already have that. You want #22 in this list of extension requirements

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