Answered2 years ago
Does a HELOC account qualify as proof of funds for Thai visas?
Question about the proof of funds for visas. I understand it has to be an account you can easily access funds. Does a HELOC account suffice?
Answer summary
For proof of funds when applying for a Thai visa, the funds must be in a liquid form and held in a Thai bank account. A HELOC (Home Equity Line of Credit) does not qualify since it is not considered liquid cash. It's recommended to open a local deposit account in Thailand and ensure the funds meet the visa requirements before applying.
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Colin *********
Just open up a deposit account quickly in local bank, look at how much they need you to put in (this is before you apply for the visa)
Steve ****************
it has to be in a thai bank account
Jacob *****
OPI thought you couldn't open a Thai bank without already having proper visas or lease agreements.
Steve ****************
@Jacob ****
it's paradoxical. I opened my thai bank account 2 years ago on a tourist visa after being rejected at one bank. the best bank to use per other retirees is Bangkok bank in paragon mall Bangkok. they required i go to embassy and get notarized copy of my passport. your milage may vary, you can use a visa agent the first time to make it easierSteven ***************
@Jacob ****
. You're also confusing visas and extensions. You are entering on a non o visa based on marriage to a Thai. You need the money in thai bank for a yearly EXTENSION not a visa. 400k min balance for 2 months prior to applying for yearly extension.Steven ***************
@Jacob ****
. Take your thai wife ,passport and marriage papers with you when you go to open the bank account in Thailand. Will make process much more easier.Steve ****************
@Jacob ****
your money has to sit awhile in the bank before you get the long term visaJacob *****
OP@Steve ***************
I'm actually going through a marriage visa so as I understand it when I come on the non immigrant type o, I open the account and transfer the funds. 2 months later convert it to the marriage visa. Unless there's a proof of funds for the type-oJacob *****
OP@Steve ***************
All Visa's have to be a Thai bank? Seems impossibleSteve ****************
@Jacob ****
of course! you have to show you can support yourself here and you are showing a commitment to doing so by leaving money in local bank
Porky ******
Brandon ************
It needs to be in a bank account. It needs to be liquid funds. You cannot show them a credit card or a line of credit, as that is now liquid cash funds. It may be funds you have access to, but it's still not the same.
Jacob *****
OP@Brandon ***********
I ask because it shows up right next to the checking and savings and is just as transferable and accessible. It looks just like a bank account.Brandon ************
@Jacob ****
The only reason they might accept it is because they likely won't know what a HELOC is. If they do know, they would probably reject it.Activity
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