Answered8 months ago
Is it common for expats in Thailand to have two separate bank accounts for visa and daily expenses?
Hi all , do people usually keep 2 separate Thai bank accounts, one for the 800000 baht / for visa and one for everyday?
Answer summary
Many expats in Thailand find it beneficial to maintain two separate bank accounts: one for meeting the 800,000 baht requirement for visa purposes and another for everyday expenses. This practice helps avoid concerns about falling below the required balance for visa compliance and simplifies the documentation needed for immigration processes. Some expats also opt to use fixed accounts for their visa funds to ensure they remain untouched and consider having additional accounts for savings or tax purposes.
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Paul *******
that's what I did. Same bank, 2 accounts
Marianne ********
I would def have two accounts for this purpose.
I would even have a third one, a fixed deposit account, for my taxes.
I would even have a third one, a fixed deposit account, for my taxes.
Alexander *************
Actually 3 accounts. One for the immigration purpose. One for foreign intake for the tax authorities and the third for daily expenses (as I don’t wish to share my daily routines with tax authorities)
Joel ******
I do. Primarily so I don't have to copy 2000 transactions in three separate bankbooks when I get a new extension.
Maria ***********
Yes
Alek *********
Why?
Ivan ************
Alek Sa Cnx because you can leave the 800k one alone and not worry about accidentally going under. Also means it's simpler in terms of the documents you get for immigration. You can also put it in a higher interest or fixed term account, it's not much but 1.5% of 800k (SCB Easy) is still 12,000. There's no cost to a bank account without a card so no real downside to doing it this way.
Alek *********
Ivan McAvinchey I use SCB since 8 years. One account is okay.
เดแคลน ***********
Krungthai for visa & K Bank for daily & work.
Cris ************
I keep only one account with a minimum balance for safety, never below 900,000.
Graeme *******
Savings and everyday account.
Joe ******
Yes
Dora *******
Yes i do. Either when it comes to renewal.
Robin ******
Yes I do, separate banks.
Jake *****
I do
Kenny *****
1 for visa, 1 for daily use, 1 foreign account when exchange rate is good.
Chris **********
Yes a fixed account for my visa and savings account for daily expenses . Savings account you can use a atm or phone but I fixed account your need to visit your bank to withdraw funds
Alasdair ******
That is exactly what I do
John ********
Yes
Kylie ********
Yes that’s what we did
Mat *********
Yes! I have it in a different bank as well. Not that I use it by mistake.
Marty *********
I had 1 account with the 800,000฿ + a 200,000฿ buffer + monthly expenses transferred every 1 or 2 months. I never had to worry about the 800,000฿.
I will add that these days I keep two Thai banks accounts just as a safeguard against the recent banking issues just as I have two US bank accounts and two US credit cards. Lessons learned over 9 years.
I will add that these days I keep two Thai banks accounts just as a safeguard against the recent banking issues just as I have two US bank accounts and two US credit cards. Lessons learned over 9 years.
Melissa *********
Marty Pollard hehe. Same for me plus small amount in backup bank accounts in Singapore and oman and portugal and transferwise.
Jon ********
I do. When I had one it was a pain in the ass as I’d burn through a lot of transactions and have to bring old bank books to immigration to show I never went below 400k.
James *******
Jon Warner when you bring your bank books to immigration to prove monetary requirements are met, do the bank books print out each and every transaction made? If so, mine must be a book with all my grab and lotus charges (I only keep 1 acct w/ 1Mthb).
Jon ********
James Rorls Your savings account. It’s deposits and and withdrawals. Grab and lotus ? I dont understand what you mean.
John **********
I just use the one account, I find it less hassle. But I always have a good cushion in it.
Florenz ********
@John *********
I agree. I prefer to keep most of my money in a higher interest account in the US. I just keep an extra 20,000 THB for the exchange rate fluctuations.
Miyamoto *********
@John *********
Same, same.
Sebastian ********
Definitely, then there are no worries about insufficient funds.
Larry ***************
That's what I do I keep 1 million in my account for my Visa which is a fixed rate account which gets very little interest but I don't touch it been there for years and then I keep another account for day to day expenses
EmeraldWa*********
OPLarry Lee Gearhart hi , do you use a different bank also,? For the everyday and visa requirement one ?
Larry ***************
EmeraldWallaby4034 no Bangkok Bank I have an everyday account and my retirement account. I do have a k bank account as well
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