What is the best practice for managing my Thai savings account while on a 90-day retirement non-O visa?

Non-O Visa Thai Retirement Visa Visa Extension Financial Requirements Banking in Thailand Thai Savings Account Proof of Funds

Oct 9, 2024

3 months ago

Alan *******

ORIGINAL POSTER

Hello - I am in my 2nd month of a 90 day retirement non-O visa. 

What is best practice with the Thai savings account I have the 800k balance in? If after I receive the one-year extension in December, I will still keep the balance for 3 months but would also begin transferring a min of 65000(?) Baht each month so that I can change to that proof of finances the following year?

Would it be of any benefit to start depositing to the same account now? I have been thinking to xfer monthly and use the thai bank debit card when needing cash instead of my US card which always has a fee or 220 baht +. Always being sure not to dip below the 800k of course. But it would also make the passbook a longer document with spending patterns when presenting for the extension...

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TLDR : Answer Summary

When managing the 800,000 THB required for your Non-O retirement visa extension, it's advisable to start making monthly transfers of at least 65,000 THB now to meet the 12-month requirement for future extensions. Additionally, ensure the 800,000 THB remains in your account for two months prior to applying for the extension and does not dip below 400,000 THB in the process. Utilizing a Thai bank account for your funds can help avoid withdrawal fees associated with foreign cards.

NON-O RETIREMENT VISA RESOURCES / SERVICES

Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
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Stuart ***********

Check that your immigration office accept the 65,000 method, I have read some are reluctant.

I opened a second account to solve the problem of having many pages of transactions.

You can avoid the withdrawal charge by withdrawing the money inside a bank.

3 months ago

John **********

I would start the 65k baht overseas transfers immediately, you need a full 12 months of them for your next extension, but you can spend them as soon as they show in your account. As to the 800k baht for your 1st extension, it needs to be in your account for 2 calendar months before you apply and stay there for 3 calendar months after you receive the extension and can't go below 400k baht at any point during the extension

3 months ago

Norbert **********

@John *********

nobody ever ask me by the 3 month extention for the bankbook??

3 months ago

John **********

@Norbert *********

they usually check when you go for your next extension. That's why you need 12 months of bank statements

3 months ago

Reply to

John **********

Alan *******

ORIGINAL POSTER

@John *********

thanks. Is my expectation correct that after the first year extension with proof of the monthly deposits that I can apply for the 2nd and thereafter extensions without needing the 400k balance.

3 months ago

John **********

@Alan ******

correct

3 months ago

Reply to

John **********

Graham ******

If you are in the second month of a Non-O then it is too late to be asking about the finances for a 12 month Extension of Stay as the 800k needs to be seasoned for two months prior to application. How were you planning to get to December if you are 2 months in on a 90 day stamp?

3 months ago

Alan *******

ORIGINAL POSTER

@Graham *****

the 800k is already there and 'seasoning' until my application for extension in December. My question was about other activity with the same account such as monthly deposit towards the following year extension...

3 months ago

Graham ******

@Alan ******

as stated above you need to start the 65k/month before you apply for this extension so that the next time you apply you will have at least 12 consecutive monthly deposits

3 months ago

Reply to

Graham ******

Tony **********

Yes, start transferring now monthly. It's 12 months prior to application of your extension.

3 months ago

Reply to

Tony **********

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