Do I need to show the source of funds as overseas if I have 800,000 THB in my bank account for my Retirement visa renewal in Thailand?

Question

I'm an Australian living in Thailand on a Retirement visa.  When I next renew it I will have to show I've either 800,000 THB in my bank account or that I have a regular income being deposited.  I'm told I have to demonstrate the income being deposited was from a source outside of Thailand.  Does this apply if I show the 800,000 THB in my account or does it not matter on the verifiable source.  I ask as it works out much cheaper to deposit money from my Australian account to my Thai one if I use companies such as Transferwise rather than a direct bank transfer.  The problem is that if I use a non-bank to transfer the money it does not show up as sourced from outside of Thailand.  Thank you in advance for your assistance.

Ask Thailand · Answer

In Thailand, if you are renewing your Retirement visa and opting to demonstrate 800,000 THB in your bank account, you do not need to show the source of these funds as long as the amount has been in your account for at least two months prior to your visa application and remains for three months afterward. This means you can transfer the money via services like Transferwise without the concern of it being labeled as a local deposit, as the source check only applies when using the monthly income method.

Tod ********* · Answer

There are TONS of threads in the tiny thai related section of the inter-web about using Transferwise as a means to bring the minimum 65K baht a month into the country IF you are using monthly income method to meet the proof of funds.

There were a LOT of threads on here about it too. Google is your friend, I'm not going to have another thread debate whether you can or can't use transferwise as a way to bring money in and have it meet the proof of funds from overseas requirement..Sorry

Tod ********* · Answer

If you use the 800K baht banked money method there is no requirement to show the origin of the funds. Only that it is in your account 2 months prior to you applying for your yearly extension and that it stays in the account for 3 months after your extension is granted. After that the balance cannot drop below 400K baht in that account for the rest of the year

Lisa ************* · Answer

I used Transferwise AUD to transfer to my Thai bank account  (Bangkok bank) and it shows as a local deposit rather than an international one. Not sure if that will affect you as you need to demonstrate that the money is derived from overseas...

Do I need to show the source of funds as overseas if I have 800,000 THB in my bank account for my Retirement visa renewal in Thailand?

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