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What are the best options for Aussie retirees on an OA visa in Thailand regarding their bank funds and visa renewal?

OA Visa Thailand Visa Rules Banking in Thailand Visa Renewal Retirement Visa TransferWise Foreign Currency Transfer International Banking Financial Requirements for Visa

Jul 22, 2021

5 years ago

Jennifer ******

ORIGINAL POSTER

We are an Aussie married couple that entered Thailand on an OA visa with 800k in  each of our Thai bank accounts. Thinking if possible to release this money. What is the best option? Change my visa to piggy back off my husbands and keep 800k in his account? Keep both of us on OA visas and change to the 65k per month each. We are self funded pensioners in Australia so thinking to trf money from our Aussie account to Transferwise and then trf THB to here monthly. If this is possible when would we need to get this sorted. Our visa renewal is in December. Thank you.

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TLDR : Answer Summary

An Australian couple on an OA visa in Thailand is considering ways to manage their funds (800k THB in each account) and prepare for their visa renewal in December. They are exploring options such as switching to a marriage-based visa, maintaining their current OA visas while changing to a monthly income method (65k THB each), and using TransferWise for transferring funds from Australia. However, it was advised that they cannot switch to the monthly income method immediately and must keep the 800k THB in their accounts as proof for the renewal. Additionally, it is important for their funds to be transferred via a Bangkok Bank account to ensure international transfer records, which is crucial for the visa extension process.

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Stephen *******

As you can't border bounce to get your second year of the O-A, you'll just need to keep your money in the bank to get a one year extension at immigration.

5 years ago

Tod *********

Your option this year is use banked money method on BOTH of the O-A extensions in Dec, THEN start transferring in the monthly 65K baht a month for the next year to qualify for the monthly income method next year.

Sadly doing this means you need to meet the seasoning requirements for BOTH proof of funds methods. You need to keep the 800K baht in the bank accounts for 3 months after you get this extension granted in Dec, AND then you couldn't let the balance go below 400K baht the rest of the year <- those are the seasoning terms on this extension you'll get in Dec,

AND

You'll have to bring in 65K baht a month each month every month for the previous 12 months before you apply for your following extension too.

Switching proof of fund methods especially banked to monthly income are troublesome.

5 years ago

Jennifer ******

ORIGINAL POSTER

@Tod ********

Ok. Thanks heaps. We can do that. Just means hubby has to wait on the motor bike. lol

5 years ago

Stephen *******

Jennifer Reid And make sure you have a Bangkok Bank account and select from Transfer Wise the Long Term Stay in Thailand reason every month or it will all be for nothing. The foreign transfer must show as an International transfer.

5 years ago

Jennifer ******

ORIGINAL POSTER

Thank you very much. We have one Bangkok bank account. Looks like we will be getting another. At least have time to get this all sorted. Thanks very much for your help.

5 years ago

Jennifer ******

ORIGINAL POSTER

@Stephen ******

we have a SCB bank account but will make sure to list the Long Term Stay option on Transferwise. Thank you.

5 years ago

David ************

@Jennifer *****

The reason

@Stephen ******

said use Bangkok bank is because transferwise uses a third party bank in Thailand and the transfer will not show up as international but as domestic which doesn’t count. Using Bangkok bank somehow gets around this. If you just did a direct bank to bank international transfer then SCB Bank is ok. This is very important to understand as just one wrong transfer will mess you up for another year.

5 years ago

Glen *********

@Jennifer *****

Bangkok Bank is the only one you can be sure all will show transfer internationally without problems, other banks sometimes record one or two transactions as domestic and then you have to jump through lots of hoops to get the proof.

5 years ago

Reply to

Glen *********

Tod *********

You can't switch OFF an O-A entry stamp to an extension based on being married to a foreigner on a long stay visa/extension (piggy-back). You have to get at least ONE extension for the reason you got the visa (retirement) before you could change the reason. So piggy backing is out

5 years ago

Tod *********

You couldn't switch to the monthly income method this Dec when you need to apply for a yearly extension because you need to transfer in 65k baht a month, each month every month for the previous 12 months before you apply for your extension. So monthly income method is out

5 years ago

Tod *********

so you're still on the original year entry stamp you got when you came in on the O-A visas right?

5 years ago

Jennifer ******

ORIGINAL POSTER

Yes.

5 years ago

Tod *********

@Jennifer *****

then you could follow any of the things I said below

5 years ago