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How long must I wait before transferring my 65k deposit to my daily use account for my retirement visa in Thailand?
Thai Visa RulesRetirement VisaVisa ExtensionNon-O VisaBank Transfer MethodInternational TransferFinancial RequirementsExpat Life in Thailand
Apr 9, 2024
2 years ago
David **********
ORIGINAL POSTERI intend to change my non O extension for retirement in 12 months time from 800k THB permanently parked in a Thai Bank (over 10 years now) to the monthly transfer of over 65k method)
First deposit already with valid receipt of transfer
How long must I wait before transferring this deposit to my “daily use account)
First deposit already with valid receipt of transfer
How long must I wait before transferring this deposit to my “daily use account)
TLDR : Answer Summary
The original post seeks clarification on how long one must wait before transferring the 65,000 THB deposit from an international transfer to a daily use account after initiating the monthly income method for a retirement visa in Thailand. Comments from community members indicate that once the deposit is credited to the account, there is no mandatory waiting period to transfer the funds out. However, to be eligible for the retirement visa extension, the individual must show proof of 12 consecutive monthly deposits of at least 65,000 THB and maintain a minimum balance of 400,000 THB in their Thai bank account for the year.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
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Tod *********
What a near train wreck of a post.
As Ellie correctly spotted the actual question in the post is;
𝗛𝗼𝘄 𝗹𝗼𝗻𝗴 𝗺𝘂𝘀𝘁 𝗜 𝘄𝗮𝗶𝘁 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝗿𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗱𝗲𝗽𝗼𝘀𝗶𝘁 𝘁𝗼 𝗺𝘆 “𝗱𝗮𝗶𝗹𝘆 𝘂𝘀𝗲 𝗮𝗰𝗰𝗼𝘂𝗻𝘁)
There is no time limit, you can pull the 65k out as soon as it credits to your account.
The rule is SHOW that a minimum of 65k was transferred in from abroad, each month, every month for the previous 12 months before you apply for a yearly extension based on retirement.
There is nothing in the rule that says how long you have to keep the 65k in the account.
This isn't gonna turn into a post about how to move money here, how to get the yearly statement to show the international funds transfers OR how to see if your transfers coded at your bank as international.
I wish good luck to the O/P (y) thanx one and all for the helpful comments 🙂
As Ellie correctly spotted the actual question in the post is;
𝗛𝗼𝘄 𝗹𝗼𝗻𝗴 𝗺𝘂𝘀𝘁 𝗜 𝘄𝗮𝗶𝘁 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝗿𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗱𝗲𝗽𝗼𝘀𝗶𝘁 𝘁𝗼 𝗺𝘆 “𝗱𝗮𝗶𝗹𝘆 𝘂𝘀𝗲 𝗮𝗰𝗰𝗼𝘂𝗻𝘁)
There is no time limit, you can pull the 65k out as soon as it credits to your account.
The rule is SHOW that a minimum of 65k was transferred in from abroad, each month, every month for the previous 12 months before you apply for a yearly extension based on retirement.
There is nothing in the rule that says how long you have to keep the 65k in the account.
This isn't gonna turn into a post about how to move money here, how to get the yearly statement to show the international funds transfers OR how to see if your transfers coded at your bank as international.
I wish good luck to the O/P (y) thanx one and all for the helpful comments 🙂
Tod *********
And just so everyone knows
When you go from an extension using banked money method (800K baht) to an extension using monthly income method by international transfer (65k baht/month) you have to still follow the seasoning rules for the extension you're on (the banked money one) and that means you need to leave the 800K baht in the account for 3 months after your extension was granted, then never let the balance in that account go below 400K baht the whole rest of the year
AND
while you're doing that 😮
you also have to transfer in 65K baht a month from abroad, each month every month for the coming 12 months (as that is the extension you WILL apply for next year)
I just want people to know you have to meet TWO different sets of requirements to get off banked money method and on to monthly income.
When you go from an extension using banked money method (800K baht) to an extension using monthly income method by international transfer (65k baht/month) you have to still follow the seasoning rules for the extension you're on (the banked money one) and that means you need to leave the 800K baht in the account for 3 months after your extension was granted, then never let the balance in that account go below 400K baht the whole rest of the year
AND
while you're doing that 😮
you also have to transfer in 65K baht a month from abroad, each month every month for the coming 12 months (as that is the extension you WILL apply for next year)
I just want people to know you have to meet TWO different sets of requirements to get off banked money method and on to monthly income.
Reply to
Tod *********
Reply
Mike ******
I have been extending my visa via the monthly income system for years now. My Thai bank print off the monthly income on individual sheets for each month and I collect them from the bank having first arranged it with the bank, then take them with me when I visit the office for my extension
Ellie *******
please read the question in the original post carefully, members. This post is NOT about how to make transition from banked money method to monthly transfer method for retirement extensions.
Ellie *******
OP explains what he's already doing, but his question is simply the last sentence. Or at least seems so to me. Sorry if i read wrong.
John **********
@Ellie ******
really? What am I missing?Reply to
John **********
Reply
John **********
You need 12 full months of 65k international transfers into your account prior to applying for your next extension. You also need to honour the terms of your previous extension by keeping your balance above 800k baht for 3 months and not letting it drop below 400k baht for the rest of the year
James ********
@John *********
correct ✅ thru the full year of the current extension of stay. Then use the 12 months proof for the renewal extension.Reply to
James ********
Reply
Ellie *******
For monthly transfer method, 65k baht can be used anytime once in your account as international transfer. There is no requirement for keep specific balance in your Thai bank account for monthly income method
Wannikea *********
I believe you only need to show/prove the 12 monthly deposits and can remove/spend/move that money anytime.
Jeff *******
@Wannikea ********
CorrectJames ********
@Wannikea ********
Hmmmm 🤔Jeff *******
@James *******
They're rightReply to
Jeff *******
Reply
Graham ******
You need 12 consecutive months of 65k deposits and a minimum of 400k still in your Thai account at the time of application to comply with the requirements of your current extension
James ********
@Graham *****
good point ✅Reply to
James ********
Reply
James ********
Try to keep it Simple...
Suggest you have a separate Thai bank account in your name only for the receipt of the 65,000 Thai baht each month. Transferred into Thailand EACH month by international transfer.
At the end of the 12 months print out proof of the international coded deposits to show Thai Immigration Officers when you Apply for your One year extension of stay as retired.
Suggest you have a separate Thai bank account in your name only for the receipt of the 65,000 Thai baht each month. Transferred into Thailand EACH month by international transfer.
At the end of the 12 months print out proof of the international coded deposits to show Thai Immigration Officers when you Apply for your One year extension of stay as retired.
Jim ***********
Need 12 months 65k transfer show immigration
Reply to
Jim ***********
Reply
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