Do I need to keep 800,000 baht in the bank for 3 months after getting my Non-O visa extension if I transfer 65,000 baht monthly?

May 12, 2024
6 months ago
Bill *******
ORIGINAL POSTER
I required the 800,000 to obtain my Non O immigrant visa, the funds are to remain in my account for 2 months after which time I can apply for my 12 month extension. The rule is to keep the 800,000 in the bank 3 months after I receive the 12 month extension, however I am transferring 65,000 baht per month.

My question is do I have to keep the 800,000 in the bank for 3 months after receiving the 12 month extension being that I am transferring pension funds of 65,000 per month
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TLDR : Answer Summary
The individual asks if they must maintain 800,000 baht in their bank account for 3 months after receiving their Non-O visa extension, considering they are transferring 65,000 baht monthly in pension funds. Comments clarify that the 800,000 baht requirement is independent of the monthly transfers and must be adhered to until after the specified duration, which is crucial to remain compliant with Thai immigration regulations.
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Tobben ********
Stupid rules that Philippines dont have !
CN ****
@Tobben *******
nobody follows the rules in the Philippines. ๐Ÿ˜‚
James ***********
Confused. I am under the impression that to obtain a non immigrant O visa AS A RETIRED PERSON OVER 60, that you had to either have 800,000 baht, OR show 65,000 baht per month in pension income.

Can you please clarify my misunderstanding?
Ron ******
This thread has become "hilarious".
Eoin *******
Interest rate is very important @ 5% are u effing kidding me, that adds up.

Yes, agreed many (millions) of idiot's are getting .01% from banks, that's why there's millions of idiot's that can't retire, cuz there effing idiot's

Many of the non bank brokerage houses with pay you 5 to 6% on liquid cash.

Milk the interest rate while it's freely available .....

Never hire an agent to do something you can do yourself ....

Never hire a financial advisor, when you can buy zero to lo cost index funds

The 800k baht is ONLY security to protect the Thai taxpayers if getting stiffed by all the US losers that constantly go broke here, like orange turd trump with his 6 bank rupicies under his gross beer belly gut
William ******
@Eoin ******
enjoy it the 5% in a year 4%. Where you place your money from 2010 to 2020. No options then. You had market but never guaranteed. I think $90 a month in interest not killing people working. But for some $90 makes big difference. The question is using an agent truly legal? Has anyone had issues or revoked by not doing the proper method. To me an agent is not following the rules. But if the banks and government turn a blind eye and donโ€™t care I guess it works. But rules and enforcement change. Look at weed. Now they are trying to make illegal again. Not 100% sure if there is a risk using an agent to provide fake bank statements and rental agreements. If a cracked down starts who at fault, the agent or the visa holder
Eoin *******
@Dennis ******
what are you smoking ๐Ÿ”ฅ
Eoin *******
@Dennis ******
I didn't become a multi millionaire by being a dumb ass simp, if I can do the work myself, I do it, period.

Alot of vollogers pedal.agents in their videos, cuz there trying to score biz for the agents and get some kick back's.

It's not rocket science, if one knows how to do it, and there retired, just do it, if they dont know, then learn how, and by doing so they learn a thing or two along the way ..

It's not rocket science, nor brain surgery, so it's doable, even those with 3 teeth and 4 brain cells....

Robert Kennedy Jr, can't cause a worm.ate his 3
***
brain cells, the worm then died from starvation, cuz Robert now has no effing brains ๐Ÿ˜‚
William ******
William ******
@Eoin ******
damn! You got the TDS bad it is an ugly ugly virus
Eoin *******
@William *****
I've no idea what TDS means, I guess it's some lady boy slang you and your boyfriends use when butt effing one another ๐Ÿ˜‚
William ******
@Eoin ******
I'm sure you don't what projection is either. Google it sweetcheeks
William ******
Here we go again with the 5% interest. That is around
*****
baht. So, your going to lock in with an agent while interest rates will never be 5% forever. Next year you be lucky getting 3.5%. Still enough to pay agent but if your worried about losing interest on so little money that is crazy argument. Iโ€™m sure you were not worry about interest rates pre-Covid. You know half the people donโ€™t have there money in an account getting interest. Many people have $20,000 sitting in a USA checking account getting 0%. In 2026 your 2% interest not getting you much. Use an agent and be locked in. As far as trust. That comment can be made about many banks. Use agent if you donโ€™t have
*****
0 and only SS or convenience. Not interest rates. Because no out 100% of there money in an interest account. If was 2M baht Iโ€™d say ok maybe use agent. But for
*****
0. I vote for do it alone. If requires your time yes to fill out forms and go to offices. If plan is one year or two i probably use an agent if 5 years + do alone. But I always see the one person with the interest rate comment.
Julane *******
@Dennis ******
I totally agree with you. Same few guys keep posting this same story. Simply, it's not legal...no matter how many people do it. If you get investigated, you'll be deported. Now how important is that measly interest rate, if you lose your right to stay here?
William ******
Kevin *******
800,000 @ 5% interest is double what an agent charges and your money is in your control ! I personally wouldn't trust the thai banks or thai government for that matter ! Up to you !
Graham ******
@Kevin ******
The 800k only needs to be in your account for just over 5 months then 400k needs to be there for the rest of the extension year because during this first year you can transfer 65k a month to meet the monthly income requirements for subsequent years. A small price to pay for a legitimate extension and no risk of immigration knocking on your door.
Chris *********************
To many complaints 5% THIS 1 % that if you can't afford it stay in your own country
Kevin *******
Chris Topher Ian FowlerYOU go home and give your head a wobble !
Chris *********************
@Kevin ******
bloody hell are you him off the gooneys
Kevin *******
Chris *********************
@Kevin ******
Chocolate
Kevin *******
@Chris ********************
it's you ain't it ? The retarded one in the chuckle brothers!
Chris *********************
@Kevin ******
last bit of banter ๐Ÿ˜‚ if you didn't let the pirate ship go you could have gone to turkey to get your wonky eye and teeth done
Kevin *******
@Chris ********************
says the short arse, toothless, baldy guy l goodbye!
Chris *********************
@Kevin ******
nice one ๐Ÿ‘ me short arse you look like 1 willy wonky let go ๐Ÿ˜„ ๐Ÿคฃ, let's call a truce โœŒ๏ธ l could go on all night ๐ŸŒ™ but food and bed ready ,

Umper lumper
Kevin *******
@Chris ********************
goodnight goodbye thanks for the banter !
Chris *********************
@Kevin ******
ya welcome
Chris *********************
@Kevin ******
yes mate that's me ๐Ÿ˜„ ๐Ÿคฃ at least I can have a laugh about it, go get ya self a bit chocolate ๐Ÿซ calm down
Chris *********************
@Kevin ******
๐Ÿ˜„ ๐Ÿคฃ you his double
Kevin *******
Chris *********************
@Kevin ******
would you depend on a agency every time your visa is due ๐Ÿค”
Ian ********
John **********
The 65k baht per month you are transferring is for next years extension, it has nothing to do with this year's extension based on 800k baht. You must fully honour the terms of this extension, right up until you have been granted next year's extension. The good news is you can spend the 65k baht international transfers as soon as they are showing in your bank, they must show as international transfers and you can't miss a month or drop 1 baht below 65k each month
CN ****
@Nongnuch *******
thanks for the tip.
Bill *******
ORIGINAL POSTER
@CN ***
yes, your bank uses a code to differentiate the method of transfer..local or international. Wise and Remitly transfer only from abroad to Thailand.
Bill *******
ORIGINAL POSTER
The
*****
baht I transfer monthly can be withdrawn which in my case covers my monthly expenses.

The options are to deposit 800,000 baht in a Thai bank account or transfer
*****
baht monthly for 12 consecutive months that was the method I've used for the past 7 years. The mistake I made was failing to make my October 2023
*****
baht transfer that disqualified me for a new 12 month extension. I'm in the process of obtaining a new Non O immigrant visa followed with a 12 month extension. Essentially I had to start over with a new retirement visa.
Nigel ********
@Bill ******
or get a non OA from your home country and you won't Have to do the 800,000 start putting in 65 every month and your done use wise and tick funds for living overseas which shows on your bank as international transfer use BKB OR YELLOW bank They accept larger transfers.
CN ****
@John *********
just to clarify your last sentence. Do you mean the transferred amount can't be 1baht below the required 65k baht per month? Once it is transferred the money can be used, right?
John **********
@CN ***
yes, you have to transfer an absolute minimum of 65k baht each and every month for a full 12 months from overseas before applying for an extension using that method. It must show on your bank statements as an international transfer. And yes, once its in your bank you can spend it.
CN ****
@John *********
do you know if ss direct deposits show up as international deposits?
Gary ******
@CN ***
yes they do. Warning though. I did the direct deposit from SSA for about 18 months. Just this month I got a letter from Bangkok Bank saying I can only access my money using a bank book and in person at my local branch. I didnโ€™t understand the restrictions being placed on my account so I met with the branch manager. She made some calls and informed me that the SSA had notified BKK bank to restrict my account because they wanted to make sure I was still alive.

I guess they have had some issues with overseas deposits and the US citizen dying and Thai wife/girlfriend/persons with access to account continuing to receive money after the death of recipient.

Supposedly this issue has been taken care of I am told but I waiting to see what happens on May 17 which was the implementation date given to me via the previously mentioned letter. hope that helps.

PSโ€ฆ I now transfer 65k monthly using Wise from my US based bank.
CN ****
@Gary *****
the ss sends out a form 7162 every year, expats call that the dead or alive letter. Are you familiar with that? I get one every year here in the Philippines. If I don't send it back they will suspend my ss account which means no payments till they receive that form. I believe that expats that live in a foreign country and have their direct deposit into a foreign bank receives that form.
Gary ******
@CN ***
I may have received it via my mailbox in USA but I havenโ€™t been back in a while to check it. So that could be the case for me. I have been transferring direct from SSA since December 2021. I switch back to us bank deposit in December 2023. So this could certainly be the reason for the suspension of my BBK bank account. Thanks for the info on that!
Bill *******
ORIGINAL POSTER
@CN ***
my SS deposits go directly to my US bank account after which I use WISE or Remitly to transfer my monthly
*****
baht to my Thai bank account after which I withdraw for living expenses.
CN ****
@Bill ******
does your transfer show up as a international deposit?
John **********
@CN ***
sorry no I don't
CN ****
@John *********
ok thanks.
Brandon ************
Yes. The 65,000 has nothing to do with the extension you are about to apply for and the 800,000 for 3 months after relates to THIS extension. You also cannot let your account drop below 400,000 until you get your extension next year.

If you fail to meet the requirements for this extension when they check your 12 month bank statement next year, they will not allow you to apply for your extension regardless of what your transfers show. You would basically invalidate the previous extension.
Sebastian *********
@Brandon ***********
if you take 400.000 after 3 months, when do you have to put it back if you intend to apply for another 12 months extension?
Brandon ************
@Sebastian ********
2 months before you apply for the next extension. Not 2 months before your extension ends, but 2 months before you will go to immigration and apply.
Sebastian *********
Derek ********
Terary youre living in thailand?
Terary **********
@Brandon ***********
If a person is transferring 65,000 every month from foreign sources.. They still have to have a minimum balance for the extension?
Nick ************
@Terary *********
use Wise to Bangkok Bank for monthly transfers. Get your account tagged and they are most likely to show as international. My last 7 have done so and I'm keeping my fingers crossed for the next 5.
Brandon ************
@Terary *********
until they get the 1-year extension based on transfers, they must meet the requirements of the previous extension. Those requirements are 800,000 for 3 months after the extension and never going below 400,000 the rest of the time until the next extension.
Terary **********
Derek ********
@Brandon ***********
just be aware new this year taxation on income coming to thailand not sure the rate hope its rediculously low or the thia retirement will not look so appealing
Brandon ************
@Derek *******
there's no new taxes. Just a new policy on an existing law. It won't effect 99% of retirees.
Anders ********
@Brandon ***********
One question.

If I have a payment from retirement, 65.000 bath, do I still need 800.000 bath in my bank account?
Brandon ************
@Anders *******
if your embassy provides income verification you won't need 800,000. Many embassies no longer provide this so if that's the case for you, you'll need the 800,000
Von ******
@Brandon ***********
interesting, My buddy had been living in Rawai for 14 years now and all this buzz and chatter about the ( new tax ) for foreign income has been worrying him, would you mind sharing your knowledge of the situation, he is not on FB, but I would like to ease his mind if I can with your information. Cheers ๐Ÿ™๐Ÿฝ
Derek ********
@Brandon ***********
im not even retiree yet thts my problem just trying to live on the "nest egg" till im 60

So can you give me insight on what the new policy is cuz ive resisted opening my own account and just been transfering to the wifes

But i will eventually need my own for visa requirements
Brandon ************
@Derek *******
The old rule said that any income earned in another year and remitted to Thailand would not need to be taxed. The policy change is that now income is taxable regardless of the year it was earned.

Most of the money foreigners have and are transferring to Thailand has already been taxed in their home country, and Thailand has double taxation treaties with many countries.
Mac *********
@Brandon ***********
BUT? "If I am declaring $30,000 from Social Security as my sole income in the U.S., and due to typical 'low income' deductions, the tax owed is zero, does this count as having been 'taxed' under the terms of the Double Taxation Agreement (DTA) with Thailand? My understanding is that you get a credit here for what you paid in taxes in your home country, which in this case would be zero.
Derek ********
Forgive my ignorance im a new expat lol
Derek ********
@Brandon ***********
so this only applies to income made in thailand?
Brandon ************
@Derek *******
no. It applies to any money remitted to Thailand by a tax resident of Thailand. But as I said most foreigners have already been taxed on the money they are sending to Thailand and are from a country with a double taxation treaty with Thailand. So they will not have to pay any additional taxes.
Derek ********
At least the CRA is online and i can download them
Derek ********
@Brandon ***********
does that mean youll have to submit income tax statemants?
Brandon ************
@Derek *******
I haven't seen anyone that says that for sure, but I can't imagine that they will require so many foreigners to start filing taxes just to not get any additional income. That would be a huge drain on resources for no gain.
Derek ********
It also means stop sending to my wifes acxount as she may get taxed
Brandon ************
@Derek *******
it won't matter what account you send it to
Derek ********
@Brandon ***********
funny ive downloaded wise however ive been using my canadian bank for transfers its "free" but shit rates and send in USD which sucks for me i use XE and it lets me transfer in baht and shows me exchange everything up front before sending i would think wise is the same
Terary **********
@Derek *******
Wise has pretty good rates. I have made a few transfers from banks and/or western union. Those rate suck and the transfer's total cost is significantly more than wise.

Then there is the whole thing of 'long term stay in Thailand' (aka international transfer)
Brandon ************
@Derek *******
wise will tell you everything up front, the exact rate you'll get, the exact fees and exactly how much will go into your bank account.

But that's not what's important. The important thing is that it shows as an international transfer. In Wise you can select the reason that says something like "for long term visa". I can't remember the exact wording. If you don't use this reason then you'll receive an internal transfer from a Wise bank account in Thailand and it would not qualify for the visa.

I don't know if Xe shows as domestic or international transfer.
Derek ********
Hey brandon you living in thailand?
Brandon ************
@Derek *******
off and on. Not at the moment
Derek ********
@Brandon ***********
oh very good info
Derek ********
@Brandon ***********
ok good to know thanks for your insight
Ron ******
@Brandon ***********
Well done! a clear, concise and accurate summary of the requirement and possible pitfalls of transitioning from the 800k to 65k per month. The very reason I keep my money elsewhere in an interest bearing account which more than compensates for agents fees for initial application and subsequent renewals (with plenty left over) and makes my personal involvement in obtaining the visa the very minimum, whilst if necessary allowing access to those funds without jeopardy of my visa.
Rob *****
@Ron *****
Many thanks to both yourself Ron, and Brandon for the idea you have given me. My bank asked me to meet with them on Monday (in Europe) to discuss better ways to handle the money I have lodged with them, ie Investments. I met with them and they talked about "Euro Bonds". As they were telling me about them I was dismissing the idea in my mind because I am now 74 (and a ยฝ, 555)...until I read your posts and the O.P's post. The investment had a 4% return... Maybe I should use an agent to obtain an Extension (retirement visa) and go ahead with an investment like you described

I had always felt a bit "superior" renewing my own extensions over 23 years but left Thailand during the COVID and only been back on holidays since then...But...I miss living there very much.

Thanking the 3 of you again...Cheers.
Ron ******
@Rob ****
I use Manareet Soi
****
probably the busiest agent in Pattaya with implants at IMO and Bangkok bank ensuring everything goes as smooth as possible.
Rob *****
@Ron *****
Thanking you for the information.
Bernie *************
@Ron *****
Hi Ron are you saying that you can invest 800k or equivalent for a year and make enough to pay for an agent to process your visa and still have money over?
Ron ******
Andy ********
@Ron *****
the Immigration Act states the capital must be in a Thai bank.
Brandon ************
@Andy *******
he uses an agent to bypass the law and not show money
Andy ********
@Brandon ***********
ahh, thanks for that. I understand he is paying the agent fees from the interest he gets.

Definitely not an approach I would go for myself.
Ron ******
@Andy *******
Each to there own but my agents office is the busiest in Pattaya and I understand it is not for everyone. my friend is intent on doing the 65k per month (whatever the rate is at the time he needs to transfer and the balance not dropping below 400k!) and deal with the bureaucracy himself. I can transfer money when the rate is advantageable cream the +5% interest all for a fee that is less than 30% of the interest earned with just a couple of visits to the agent who make the process so easy.
Andy ********
@Ron *****
you can try to justify the finances however you want. You do not have a legal visa/extension. If you are ever challenged on meeting the financial requirements of the visa stamped in your passport you won't be able to do it.

I am no lawyer but my understanding of the immigration Act is that is you no longer qualify for a visa you are on overstay.

Using any agency to circumvent the law carries risks. I am not prepared to accept those risks in my life.
Derek ********
@Ron *****
elsewhere you mean in home country?
Ron ******
Yes, in my case. My understanding is the best rates here are still less than 2%. I get 5.08%.
Bill *******
ORIGINAL POSTER
Thank you..
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