Do I need to transfer my funds to a Thai bank account for my OA Retirement Visa extension in Thailand?

Question

I am here on a 1 year OA Retirement Visa granted in the UK last year, with the required £20,000 funds in a UK Bank account and 4M Baht insurance cover, in addition to which I have pension income of £22,000pa gross before tax.
I wish to apply for a 1 year extension in September when my visa runs out. Reading the guidelines however it states the bank deposits must be located in Thailand to get the extension.
Have I understood this correctly?
Anyone here extended their OA Retirement Visa and did you have to move money to a Thai bank accounts to comply?

Ask Thailand · Answer

The user, currently on a 1-year OA Retirement Visa, is seeking clarification on whether they need to transfer funds from their UK bank account to a Thai bank account to extend their visa. Responses indicate that for a successful extension, funds must be in a Thai bank account: either 800,000 THB maintained for 3 months or monthly transfers of 65,000 THB over the past 12 months. Users suggest checking the validity of the visa and options to re-enter Thailand before expiration for an additional year.

John ********** · Answer

The gross amount of a pension is irrelevant it's the net amount that would be important assuming you could get an income affidavit which you can't. Once you're OA visa has run it's course you have 2 options for an extension. Either have 800k baht into a Thai bank 2 months before applying, it has to stay there for 3 months after and can't drop below 400k at any point in the year. Or transfer a minimum of 65k baht each and every month for the full 12 months prior to applying for an extension into a Thai bank from overseas, it must show in your bank account as being from overseas but once it's in the account you can spend it.

Ellie ******* · Answer

To use your pension in your home country, you need to get an affidavit from your embassy in Thailand. Unfortunately, UK wouldn't issue those affidavits anymore. That's why you, as UK citizen, need to have a Thai bank account to transfer your funds to meet the requirements for 1-year extension based on being over 50.

BTW, IF your visa validity ("must be used by date" on your eVisa PDF) is still remaining, you can re-enter Thailand on that valid Non-OA before that date with valid insurance (1 more year) to get stamped in for a whole new 365 days. Check your Non-OA visa itself, NOT the date on your entry stamp.

Steve ******** · Answer

Start transferring 65k each month into your Thai bank account. You can spend this money as soon as you get it. You'll have 12 months worth by the time you apply for the extension so no need to tie up 800k

Jay ****** · Answer

Your 1-year OA can be stretched to 2 years if you re enter Thailand just before the 1 year expiry date is up, then you will be stamped in for another year from the date you arrive providing your required insurance cover also extends through the 2nd year.

After that to extend in Thailand, your funds (800k THB) will need to be in a Thai bank.

After that to extend in Thailand, your funds (800k THB) will need to be in a Thai bank.

Graham ****** · Answer

Everytime you enter Thailand you get stamped in for a year (or for the duration of your insurance if less) so just before your OA Visa expires (not your entry stamp) re-enter Thailand

Lloyd ******** · Answer

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Do I need to transfer my funds to a Thai bank account for my OA Retirement Visa extension in Thailand?

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