Do I need to deposit all 800,000 baht in cash to open a bank account in Thailand, or can I use a wire transfer?

@Tree ******

Happy to help. Just be careful when you carry these gold bars with you on your way to the bank...😜

@Chris ******

Wise is good as long as you check the correct .. reason for transfer box. It needs to be 'Funds for long term stay'.

@John *********

the rule is 800k foreign transfer.

If an IO doesn't look closely or whatever the situation, it may get by.

Doesn't change the rule.

I have seen issues with Wise transfers not showing as international.

@Tree ******

: As with most things in Thailand, there is a substantial “grey market” as far as this topic is concerned. By that, I mean most people I know who are eligible for a non-O visa (ie, age > 50 years) simply hire a competent visa agent who will 1) arrange the opening of a bank account (typically Bangkok Bank) and 2) shepherd your non-O application through Immigration without the necessity of transferring any overseas funds into this account (other than a small opening deposit and any additional funds you’d like to have deposited locally). Such visa agent services come at a reasonable cost but this will spare you from having to deposit ฿800k to sit in a bank here, and the hassle of dealing directly with Immigration and any other requirements such as insurance.

@Simon *******

Bangkok Bank

@Simon *******

the funds to support your retirement visa must come from outside Thailand - or they will naturally assume you are working here or laundering cash - they can see from the code in your bank book origin of money local or foreign. No grey area here…..same applies to annual renewal they are very strict on this.

@Steve ******

can i ask what bank please?

@Simon *******

Sure. Ive banked 400k in cash before

@Simon *******

it must all be from foreign transfer

@Brandon ***********

hmmm okay thanks. Sorry last question if you don't mind 🙏🏾 Would you know of any issues with, after hopefully opening a Thai bank account, that the 800,000 baht target was reached by splitting cash deposits and foreign bank transfers into that account? Or does the whole 800,000 baht target all have to be external transfers in? Sorry to be a pain but you genuinely seem the man with so much knowledge and now I've got you here I'm just chancing my arm and throwing all my questions towards the whole banking thing towards you. Apologies 🙏🏾

@Simon *******

you'll probably have issues transferring it out of Thailand. They want to know where the money came from before they let you transfer it out. For most foreigners that's easy, they just show proof of when they transferred the money in. With cash you don't have that proof.

@Brandon ***********

so even when trying to apply for the retirement visa, the bank having the 800,000 baht would be disregarded as it would all possibly be made up of purely cash deposits made inside Thailand? And if that's right, do you know if such a large ish sum of money could then transferred from one account to the newer one or would that still be looked at negatively and if possible to transfer to his account back in the UK and then straight back?

@Simon *******

I don't think the bank will reject the money. But if they plan on using this bank account to convert to a non-O visa in Thailand, that won't work because you have to show that the money was transferred from overseas to convert to the visa. The subsequent 1-year extension does not have that requirement.

@Brandon ***********

can I ask a question for a hypothetical situation please? Let's just say for arguments sake, i knew a friend wanting to open a bank account and they usually only dealt with cash, and larger than average sums, do you think it would be acceptable here to make say 100 to 200,000 baht cash deposits to get the account up to the 800,000 mark?