Will my bank of America account be accepted or do I need another bank to get my retirement visa
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TLDR : Answer Summary
The consensus among commenters is that a Bank of America account will not be accepted for applying for a retirement visa (specifically the NON-O or OA visa) in Thailand, especially when dealing with Thai immigration offices. The application usually requires a Thai bank account in the applicant's name containing the necessary funds. However, it may be accepted if applying directly from a U.S. embassy. Additionally, individuals shared their experiences regarding the complexities of opening a Thai bank account and the requirements for retirement visas.
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.
I got my OA retirement visa using the funds in my American IRA (Fidelity). You can use any bank account that has the required minimum funds and seasoning.
Back when I did this (in 2019) there was no health insurance requirement so it was a bit easier than it is to do the OA now. Yeah, that lovely element arrived about two weeks after I had already settled in Thailand (whew!).
That said, the usual "retirement visa" that most long term retirees use is the O retirement visa, and that one does NOT require any health insurance, thus it is what folks like. That one needs the funds (800K baht) in a THAI bank account. Because I saw this coming down the pike, I went ahead and opened two bank accounts in Thailand prior to heading back to America to continue working and saving. I'm putting $$$ regularly into those accounts.
So you've got the option of using your B of A with the OA, of course.
Chang ******
Thai bank only
Make sure you have enough money in the thai bank
They wanna make sure you spend all the money 💰 at gogo bar
There is many foreign people do that
Shellee ********
That’s my bank, but not sure exactly what you mean. So I can’t really answer the question.
William ***********
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Darin ********
Sorry drunk but you know what I’m saying
Darin ********
You need to Thailand bank account and then transfer your money through Wise or whatever app you are to transfer your money into the bank account. Be over 50 years old are you good to go? It’s not hard to do in Thailand. Just get a Visa company pay 10,000 baht and they do everything for you. It’s not hard really.
Not being rude chuck but it is hard when u first are looking into these things
Give them a break
People would not ask if they new where to go
Beverly **********
Exactly! Keyboard trolls think that questions mean you are "stupid". Nothing could be further from the truth. Questions mean that you know enough not to ASS U ME anything, and it keeps you safe when you are figuring out something as crucial and life-changing as retirement in a foreign country.
I have yet to find a bank that will let me open an account even when I have the money in cash to open. Any suggestions on how to get a bank to allow me to open an account so I can get a tourist visa?
it's a cruel game they play when opening bank. One will tell you that you need a visa first but to get a visa you need to get a bank account and phone acct. In all these years Thailand knows this stupid game they play. It's to force you to use an agency. Just pay for agency and smile at them and just know it's chicken fee to you. So many people get this harassment from banks. I have seen people post they try over 10 banks to find one after they make them purchase basically junk fee. Sad thing in America they let any illegal set up bank accounts. See them all day long at Walmart using the the banks inside.
you don't need a bank account to get a visa. A visa is something you're supposed to get before you travel. If you did it the way it's supposed to be done then you'll arrive with the visa already and be able to open the bank account. Plus one less trip to the immigration office.
go visit one stop visa on Soi 6 Pattaya. They will hook you up with a bank account at the Bank of Bangkok. Can get you a drivers license with a motorcycle endorsement if you need it also.
Why not? My Fidelity IRA funds were accepted, no problem. It had to be the OA version, applied for overseas, and it was so easy, even an old lady like myself could do it! Now, of course, the OA requires health insurance, which is an extra step and much harder if you are an older person, but can you do it? ABSOLUTELY! Just follow the steps and get it done!~
Once you start to get 1 year extensions of your OA visa inside Thailand the money must be in a Thai bank account. If you want to return to your home country every year or two to apply for a new OA then you can continue to use money in your home country bank accounts.
why not? Because it’s not. Nobody cares why. It is what it is.
You raise a perfectly valid point though. Your Fidelity account qualified as you applied for an O-A visa from overseas. This is very different than on O-visa from within Thailand. And yes, absolutely correct, the O-A also requires health insurance. Which can be a significant obstacle for some. But it’s definitely an option if you absolutely wish to keep your funds at home.
I'm not an expert at this that is why I am asking. I am 77 retired widowed and spent 5 years in Thailand back in the 60s and 70s now I want to retire there and I'm seeking guidance from those with the knowledge
Reply to
Floyd ******
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Clint *********
If you are switching from another visa or extention of stay to a retirement extention of stay it must be in a Thai bank. If you are applying for a 90 Non-O visa in the US it depends on the embassy. Some ask for proof of money, some don't
Brandon ************
It would be accepted if you are applying for a visa from the embassy. But it will not be accepted if you're applying for a visa or extension at an immigration office in Thailand. That requires a Thai bank account in your name.
That doesn't mean anything. Any branch of an international bank in Thailand is going to be a separate entity and 99% of the time is a commercial bank and not a consumer bank. You need a THAI bank account or you will not be getting any extensions in Thailand.