What are the requirements for bank accounts when renewing an OA Retirement visa in Thailand?

OA Retirement Visa Thai Banking Regulations Visa Requirements Bank Account Type Immigration Advice Deposit Rules Account Activity

Sep 28, 2021

3 years ago

Brook ********

ORIGINAL POSTER

I’m thinking of opening a separate Kasikorn bank account to protect and preserve the ฿800,000 THB required to renew my OA (Retirement) visa obtained from the DC Embassy. 

My options (I believe) are a savings account, which doesn’t pay interest, and a 3, 6 or 12 month money market account which will pay up to 0.45%. 

Are there any requirements with regard to the type of account, or can I just put ฿805,000 THB in a 12 month money market account and forget about it?

I remember reading some immigration officers claimed to want to see you use the account for daily expenses.

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TLDR : Answer Summary

The user is considering opening a Kasikorn bank account to hold the ฿800,000 THB required for renewing their OA (Retirement) visa. They are unsure if they can simply deposit the money into a money market account for a year without activity, noting that some immigration officers may expect to see regular account usage. Comments from others suggest that maintaining account activity is essential to avoid account inactivity issues, with experiences shared about using minimal transactions to keep the accounts active.

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.

Benjamin ******

I’m shutting this down. This is not Thai banking advice, but Thai Visa Advice. I’m seeing a lot of banking advice in this post, but very little visa advice.

If you are not sure if your bank account qualifies, ask the immigration office.

Thank you.

3 years ago

John ********

I have my 800k in Krungthai savings account that currently pays I think 0.25% (it varies year on year)....several standard savings accounts do I think ....one or twice a year I do a small withdrawal or top up to ensure the account remains active

3 years ago

Bill ******

I just prefer to think of the lost interest as part of the visa/extension fee.

What are we talking about on 800,000 baht, about 4,000 baht at 0.5%?

3 years ago

Paul ********

Krungsri will archive any account not subject to a deposit or withdrawel per 365 days. I know I had to sign papers to reopen it and monthly interest didnt count as a deposit. Betting some other banks same

3 years ago

Henry ********

@Paul *******

same with SCB, so when out of country for extended periods I have auto transfers between both my SCB accounts of 100THB every 3 months. Just circulates between them both so balance doesn't change for either but meets the deposit/withdraw requirements to keep account open

3 years ago

Wannikea *********

@Paul *******

add 20 baht a few times a year

3 years ago

Reply to

Wannikea *********

Benjamin ******

The account to use must allow same-day withdraws

3 years ago

Reply to

Benjamin ******