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What should I consider before depositing 800,000 THB in a Thai bank for a retirement visa?
Thai retirement visaBanking in ThailandThai banking systemForeign currency exchangeVisa requirements for ThailandSafety of deposits in ThailandExpat financial adviceCorruption concerns in ThailandDeposit assuranceForeigners and Thai bankingVisa extension regulations
May 8, 2023
3 years ago
Ron ********
ORIGINAL POSTERJust wondering on putting 800k in a Thai bank? Have heard some mixed reviews on banking issues etc. just wondering on what the majority have done to get the retirement visa and their thoughts on the Thai banking system! My main concern is A: corruption within the bank system B: how safe my money will stay over the years?Thanks in advance!
TLDR : Answer Summary
The discussion revolves around depositing 800,000 THB in a Thai bank to meet the financial requirements for a retirement visa. Several users share their experiences and concerns regarding the Thai banking system, with mixed views on safety and corruption. Many affirm the general safety of large banks in Thailand, highlighting personal successes without issues. However, concerns about corruption and the stability of the banking system were raised, alongside the risks of currency depreciation. Recommendations include monitoring accounts closely, considering using reputable banks, and exploring alternatives like income-based visa methods if uncertain about large deposits.
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.
Pelle Eriksson★★★★★
Absolutely Bangkok's best service I highly...recently on Facebook
Luca G.★★★★★
I used this agency for my DTV Visa...recently on Google
Trusted Retirement Visa Agent
OVER 100,000 EXPATS SERVED
#1 VISA AGENT IN THAILAND
Felix ****
You’ll be fine. 800k is nothing, there are much bigger fish around that have more money in Thai banks and they’re a-okay.
Miles ***********
Expats and Digital Nomads is the group you want. MIKE Davidson is admin
Tom *******
As they say, “When America sneezes, everyone else gets a cold.”
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/u-s-may-freeze-bank-withdrawals-currency-fear-rises-expert-warns/Alistair **********
@Tom ******
wnd a well respected and known organisation.... From a single "economist" predicting it. That's not newsReply to
Alistair **********
Reply
Pornrat ***********
Krungsri
Dennis ***********
Use Kasikorn Bank.Been with yrs,never ever a problem.
Jim ***********
Pay 40k to an agent if meet criteria is crazy. That's year health insurance paid by doing yourself if meet criteria. 800k in bank first year then transfer 65k baht every month for 2nd year. Then empty bank. Simple. How many horror stories heard about dodgy agencies not providing service then keeping passports?
Doing visa yourself is easy if meet criteria. Don't meet criteria then up to you.
Doing visa yourself is easy if meet criteria. Don't meet criteria then up to you.
Jim ***********
@Tom ******
up to youTom *******
Jim Patterson while you’re quite correct that there are a lot of very unsavory agents doing illegal business with the local immigration offices, this is only one side of the argument. You could also strengthen your argument by stating that once you go down that route, once you employ a visa agent to do all of that for you, it becomes difficult to switch back to the legal system later on, and also that agent now has quite a lot of power over you and could easily report you to the immigration police which could end up in deportation. Not likely, but definitely possible.
However, the other side of the argument is probably just as risky but in a different way. Should you decide to leave 800,000 Thai baht in a Thai bank, you are taking a huge risk that you will not be able to get access to it when you want and not lose it. It’s also possible that should the global crash happen while your money is being seasoned in the Thai bank, it could also, without your permission, be converted into a Thai Central Bank Digital Currency (CBDC) which the Thai government stated will be introduced this year e.g. 2023. (It’s currently in a pilot phase.)
Moreover, this CBDC also comes with a range of negatives, for example, that you might only be able to spend it within 4 kms of your house and it might also be only valid to be spent during a specified period of time (6 months) or expire as legal tender. This is what will happen with the 10,000 THB in digital currency each Thai person has been promised by the PheuThai party in the next election starting next week.
“The 10,000 baht is to be spent within a 4-kilometre community radius within six months during the project's early phase in a bid to attract international digital currencies.“
People need to realize that there are major changes in the global financial arena and, if you do enough research, you can find the best way to protect your income and the income of those in your family. Good luck!
However, the other side of the argument is probably just as risky but in a different way. Should you decide to leave 800,000 Thai baht in a Thai bank, you are taking a huge risk that you will not be able to get access to it when you want and not lose it. It’s also possible that should the global crash happen while your money is being seasoned in the Thai bank, it could also, without your permission, be converted into a Thai Central Bank Digital Currency (CBDC) which the Thai government stated will be introduced this year e.g. 2023. (It’s currently in a pilot phase.)
Moreover, this CBDC also comes with a range of negatives, for example, that you might only be able to spend it within 4 kms of your house and it might also be only valid to be spent during a specified period of time (6 months) or expire as legal tender. This is what will happen with the 10,000 THB in digital currency each Thai person has been promised by the PheuThai party in the next election starting next week.
“The 10,000 baht is to be spent within a 4-kilometre community radius within six months during the project's early phase in a bid to attract international digital currencies.“
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74/cash-handouts-spark-concern.People need to realize that there are major changes in the global financial arena and, if you do enough research, you can find the best way to protect your income and the income of those in your family. Good luck!
Paul *******
@Tom ******
Very easy to switch back from an agent.. let the extension expire, leave the country, get a new visa and start from scratch.Jim ***********
@Tom ******
government will never give all thais 10k . People don't realise use agent first year they need use for 2nd year. 12 months bank statements needed and the 800k needs be seasoned. Not just in out 5 mins.Tom *******
@Jim **********
why not? it’s not real money, it’s funny money, digital, programmable money literally created by zeroes and ones on a computer. Also, not everybody has a private income equal to 65,000 Thai baht on a monthly basis so many have no choice but to season the money, 800,000 Thai baht every year. Way too risky.Reply to
Tom *******
Reply
Scott *********
I've been with krungsri for two years. I recently went in to open a joint account with my wife and they told me no. So I'm thinking about changing banks.
Tom *******
Just reading through this thread makes me realize that few people understand how banking works globally nowadays. How many people actually know that when you deposit money in a bank, any bank in any country, it is no longer your money? After the Dodd-Frank act post the 2008-09 financial crisis, there were major changes in the international banking regulations. One of them is that when you deposit money in any bank nowadays, the money ceases to belong to you and actually now belongs to the bank. If you do not understand what this actually means, then you’re going to get absolutely wrecked in the next global recession, and I can tell you now that it is not very far away judging by all the banks collapsing in America as we speak. Once you’ve deposited money in a bank, you become a “creditor” to the bank and, in the quite likely event that there is a run on the bank, followed by a financial collapse (which there has been throughout history) the last one being in 2008-2009, all the bank has to give you is an IOU, nothing more. Be safe and be smart and do your due diligence which means checking everything I have said above and then acting wisely to protect your money. That means in effect is to keep a minimum of your money in the bank, any bank. You’re welcome and good luck.
Phillip ***********
@Tom ******
excellentPhillip ***********
@Tom ******
absolutely correctAlistair **********
@Tom ******
I mean that ignores the FDIC or international versions like FCS in Australia or the Deposit Protection Agency Act in Thailand. You're funds are literally backed by the government.Tom *******
Also, as I said above, you might be ok and the gov was able to cover all its financial obligations but, personally, I won’t risk it and I’m not ok with receiving programmable money (CBDCs) that come with restrictions and time limits for spending in return for my existing bank deposits.
Alistair **********
@Tom ******
can you provide any source of government insured deposits getting CBDCs? Also where's all the assets of the bank going? How is it that all creditors are wiped out? Given the insurance limit the funds of depositors up to that limit should be classed similarly to secured creditors at the top of the claims of whatever assets remain.Tom *******
@Alistair *********
no I can’t because only one or two countries have installed CBDCs at this point so this is an entirely new asset class. However, more than 100 countries are currently developing their own CBDCs. What I’m doing is warning folks that this is coming down the pipe in my view and to prepare in case it happens e.g. that their savings could be converted into digital money if there’s a bank run and/or major financial collapse on a par with 2008 or worse. I believe what happened in Cyprus was a test run for the globalist bankers.Reply to
Tom *******
Reply
Tom *******
@Alistair *********
I’m sure that’s what the people in Cyprus thought in 2013, right before the bank bail-outs and they had to take a haircut on their savings as well as accept reduced euro withdrawals. In fact, its bond and shareholders faced huge losses of €4.2bn (£3.6bn).Alistair **********
@Tom ******
or those with money in first republic or SVB. Of course bonds and shareholders bear the brunt, that's the risk you take when investing.Reply to
Alistair **********
Reply
David *********
Your 800k will most probably be okey , it's a good system here , and my world standards they are doing alright , however in the sums for this transaction you need to consider what the actual cost is , bcoz it's a wasted resource sitting there
You also need to consider that via any reasonable measure the Baht is way too high , and has been for quite a while , this will correct at some point as there will be no other way .
But , you ask a good question , no one can say in absolutes , and I'd take a holistic approach when looking at this Visa , these are wonderful for the banks , free usage of a giant long term pool , just as insurance works .
You also need to consider that via any reasonable measure the Baht is way too high , and has been for quite a while , this will correct at some point as there will be no other way .
But , you ask a good question , no one can say in absolutes , and I'd take a holistic approach when looking at this Visa , these are wonderful for the banks , free usage of a giant long term pool , just as insurance works .
Arely ************
Bangkok Bank is pretty much the go to bank (recommended by Thai immigration). They even have a New York branch but they aren't really connected. Banking is modern and safe (but avoid ATMs they have been targeted by sophisticated criminal gangs)
David *********
@Arely ***********
easy to say " avoid ATMs " difficult in practise in a cash economy .Arely ************
@David ********
doesn't help that some ATM still use Windows 95 as the operating system...Arely ************
@David ********
well, you go to a bank and use the ATM, not the kiosks that are scattered everywhere -- for quite awhile the pros were putting false fronts on the machines and scraping logins etc... more Thais were targeted than foreigners... they got a lot of money... and it's still going onReply to
Arely ************
Reply
Nick ************
My personal experiences. I had
*****
baht taken from one of my accounts. The bank rang me to ask if it was light. I checked and 4 withdrawals had been made fraudulently. I filed a police report and went to the bank where they were waiting for me. It took some time but I got all thre money back though not all at once. I used an agent twice but started getting a number if problems from local immigration office. Could not get cert if residence. They would not update my new passport. Kept telling me to go to where tge stamp came from. Eventually I was warned at bkk airport on entry to get the Visa extension myself so I did. No problems now.Paul ********
@Nick ***********
I think your experiences fall into the “don’t let the desire for perfection keep you from achieving the merely good” category.I have horror stories too -although from USA rather than Thai banks.
But I continue to use American banks, because despite their imperfection, not using them would be even worse.
Not a criticism - just an observation.
Nick ************
@Paulo ********
I was trying to point out that even if things go wrong it is possible to get them put right even in Thailand. I now have three Thai accounts and limit maximum daily withdrawals. No sense in not taking simple precautions.Paul ********
@Nick ***********
Completely agree.Reply to
Paul ********
Reply
Onne ***********
stay here 39 years never problem with bkk bank
Tom *******
you are right to be concerned. Banks are falling left right and center and trillions of dollars has recently been wiped from the American banking system. As all banks are connected, it’s only a matter of time before that contagion reaches Thailand. FYI, you’re only insured for 1 million THB if Thai banks go under, and everyone will be trying to get their money out at the same time so, as a foreigner, I don’t fancy your chances that much. Remember, 50 finance companies went under in 1997 during what was called the “Tom Yum Goong” crash. Don’t think it can’t happen again. I’ve been banking with SCB for 25 years and I only keep enough there to cover bills. The same with my Bangkok Bank acc. My advice would be for you to do the same or only keep the required money to be seasoned for a visa for as long as it’s needed and then remove it. Good luck.
Phillip ***********
@Tom ******
excellent advicePaul ********
@Tom ******
I wouldn’t cross the street again, were I you.Tom *******
@Paulo ********
you’re welcome to be as naive and trusting with your money as you like. It’s your money. It doesn’t mean everybody else has to ignore the devaluing of global currencies worldwide, the capital flight from major banks in every country and the imminent arrival of digital currencies like Central Bank Digital Currencies (CBDCs) as well as the banning of cash. If you can’t see the writing on the wall, that’s your lookout.Reply to
Tom *******
Reply
Joe *********
800k in bank. Don’t ever touch it. Open second account for operating expenses.
Jeffrey ************
Everyone here saying it's safe bla, bla, bla. All seem to have forgotten the Kasikorn? saga in Pattaya where staff managed to drain many accounts....
Ludwig ***********
I have had more than 800k with Bangkok Bank without any issues for 22 years. It’s perfectly safe and easy to use. But you won’t get a lot of interests on your savings account.
Leroy ******
Just because someone has reservations on how they secure their own money in a foreign country why does that make them not suitable to be in Thailand - FFS. So many Karen's on this forum. It's a genuine question and you're just pulling your own dicks over it. More BS from the toxic Farangi. Good luck mate. Don't use this forum for real advice. 👍
Michael ******
I have used Bangkok bank fixed term deposit for several years no problem
Tony *********
@Michael *****
Hey Michael, can I ask what sort of interest rate you get?Michael ******
@Tony ********
I think it is now 0.69Reply to
Michael ******
Reply
Peter *********
No issues
Robert *********
Fixed deposit in a bangkok bank
Sean *********
Hi mate from what I understand if you get a visa in your own country (AO non ) then you can leave you money in your own bank just need a bit more cash in your bank than the 32k. But you need a health and police check!
Someone please correct me if this is wrong
Someone please correct me if this is wrong
Russell *******
@Sean ********
Yes I think that's correct. It changes though when you need a new extension then you need to show money in thai bank or apply for a non OA again out of Thailand.Mark ********
@Russell ******
You know you can get 2 years stay out of a 1 year OA visa that you apply for in your home country.Russell *******
@Mark *******
yes I have heard that . But I don't think I would want to keep returning home .Mark ********
@Russell ******
Border bounce..gets you another 12 months.Russell *******
@Mark *******
I meant returning every two years.Sean *********
@Russell ******
So I am looking at your idea of the two years on an OA visa, but here is a question that your might be able to answer. Say I have the OA and after 3 months I want to visit Vietnam for a week or 2, will that trigger the OA visa’s start again? So instead of 2 year I only get 1 year 3 months
Thanks for the information
Russell *******
@Sean ********
Hi , I don't know much about the non OA but I would expect it would be the same as the other non immigrant visa and you purchase a re entry permit.Mark ********
@Russell ******
Non O thenRussell *******
@Mark *******
yes that's what I have 🙏Reply to
Russell *******
Reply
Aslam ******
No corruption in the bank, your 800 k deposit will be very safe
Wyn **********
Enjoy your money instead of sitting on on it in a a Thai bank.
Martin **********
@Wyn *********
You can, if you can prove income.Wyn **********
@Martin *********
You can if you can't prove income.Reply to
Wyn **********
Reply
Ken ******
what you need consider is: whether the thai baht will depreciate overtjme, and esp at the time when you need to convert it back to your home currency, AND the bank deposit in.thai probably can't earn you much interest, there is opportunity cost
Russell *******
@Ken *****
if you earn 4% it's much same as paying agent.Tony *********
@Ken *****
Very sensible comment. I'm probably going to start the retirement visa process soon, but I'll wait to see what happens immediately after the election. I'm no prophet when it comes to currency exchange rates, but I reckon a volatile post-election period could affect them (possibly to my advantage). Would not want to spend 800k buying baht when it's most expensive, and sell a few years later when cheap. But, of course, it may just end up just being another retirement cost that I choose to accept.Reply to
Tony *********
Reply
Alessandro **********
Thai banking system is safe. Just be careful not to fall into some online phishing, but that can happen everywhere.
Maple *********
@Alessandro *********
totally agree.Reply to
Maple *********
Reply
Colin ***************
Wait til you get here. Test the waters 💧 🤪
Narong *******
I have had 800K in Bangkok Bank since 2007.... No problems what so ever
Paul ********
Perhaps you could include some links to articles discussing this Thailand banking corruption / risk of loss of deposited funds you are so worried about?
I’ve personally never seen or experienced anything to give me the slightest concern over the money I entrust to Thai banks. I actually feel it’s safer there than in a USA bank.
I’ve personally never seen or experienced anything to give me the slightest concern over the money I entrust to Thai banks. I actually feel it’s safer there than in a USA bank.
Stefan *******
@Paulo ********
it is getting a bigger and bigger problems with people have lost money in there bank account,including my wife,she lost a lot of money some few years agoPaul ********
@Stefan ******
By this same logic you should never visit Thailand because you might get killed in a traffic accident.The question is, are Thai bank deposits so at risk that you are a fool to use a Thai bank? Apparently some here believe that to be true.
I think trying to get by without using a Thai bank is far more likely to lead to inconvenience, extra expense, and loss of funds.
Up to you.
Stefan *******
@Paulo ********
i already have thai bank account for over 10 years,just saying that some people are in bad luck and have lost moneyReply to
Stefan *******
Reply
Phill ****
@Paulo ********
go and google it. Posting links here is defamation incase you didn't know. AKA Ruining the image of Thailand and it's against the computer crimes act.Ron ********
ORIGINAL POSTER@Paulo ********
thanks, just the typical bs on social mediaOtto *********
@Paulo ********
How long have you been in Thailand, Paolo?John *******
@Otto ********
What difference would that make?Otto *********
@John ******
3 years or 30 years of experience would make a lot of difference.Corruption doesn't stop at the doors of bank branches...Reply to
Otto *********
Reply
Paul ********
@Otto ********
3 years now.Reply to
Paul ********
Reply
Steve *******
Dont even bother coming to Thailand if that's how you feel. You'll hate it here!
Ron ********
ORIGINAL POSTER@Steve ******
thanks for the brilliant answer Steve! Been there 9 times and absolutely love everything about it! Just left there after spending 4 months. Just a little paranoid about my money, but that’s just me being me! CheersJim ***********
@Ron *******
pay agent 40k or use own money. That's u choice.Reply to
Jim ***********
Reply
Alan ******
Steve Greir totally agree, if he's unsure, don't come to Thailand, fkin simple
Reply to
Alan ******
Reply
Jim ***********
No banks are 1000% safe worldwide nowadays
Phill ****
I have heard about this too... rent the money from an agent if you feel it's safer.
Shayne **********
It's safer than America.
Chris ******
@Shayne *********
FACTReply to
Chris ******
Reply
Kevin *******
If you can afford to lose it do it !
Sam ********
@Kevin ******
that’s nonsense. Bank systems here are safer than in the US.Reply to
Sam ********
Reply
Neal **********
Banks aren't where corruption happens
Donna ******
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20,000 baht or 40,000 per couple for the 90 day non o visa in your home bank account, you don’t need the 800,000 In Thailand bank account until you convert to a full retirement visa
Bryn ********
@Donna *****
Eligibility for a Thailand Retirement Visa O-AYou must fulfill one of the following financial requirements:
A security deposit of 800,000 Thai Baht in a bank account in Thailand for 2 months before the visa application
A monthly income of 65,000 Thai Baht
A combination of the security deposit and annual income of 800,000 Thai Baht
This last sentence doesn’t add up. I’ve never heard anything of an annual income of 800,000 Thai baht. Did somebody not proofread?
Bob **********
@Bryn *******
the O-A visa can only be applied for in your home countryBryn ********
@Bob *********
What I was really interested in was the last sentence.Bob **********
@Bryn *******
you cannot get an O-A visa in Thailand you apply in your home countryReply to
Bob **********
Reply
Steve *******
@Bryn *******
You CAN'T even get an OA visa in Thailand.Bryn ********
@Steve ******
What I was really interested in was the last sentence.Reply to
Bryn ********
Reply
Donna ******
@Bryn *******
I’m not talking about the full retirement visa I’m talking about the 90 day non o that you can apply for online from your home country.Steve *******
@Donna *****
The non imm O is the "full retirement visa". What you get in Thailand is a 1 year extention of stay.Reply to
Steve *******
Reply
Steve *******
@Donna *****
Bullshit! You need 800k Thai Baht for a non imm O based on being over 50 and issued in Thailand.Donna ******
@Steve ******
I didn’t say issued in Thailand see the link 😩😳🙈Steve *******
@Donna *****
Most Countries you need the equivalent of 800k Thai Baht to apply for the Non Imm O visa based on being over 50 years old. The Non Imm O is a "full retirement visa" as you call it!Reply to
Steve *******
Reply
Rob **********
I have had a lot of money over the years in Thailand, in my opinion their banking system is quite safe, especially when you stick to the major banks.
Christian *******
@Rob *********
I agree. I'm with the KBank and you have an app which allows you to keep a check and whilst you are not using, allows you to block any debits taking place.Reply to
Christian *******
Reply
John ******
800.000 thai bank. Do not worry thai banks are ok. Have three thai bank accounts ten years already. Never had a probleem of you choose a big ons. Fi krungthai, krijgsroem bank, Bangkok bank, kasikorn bank
John ******
Not krijgsroem bank but krungsri bank
Reply to
John ******
Reply
Hilary **********
I’ve had 800k in a bank for 8 years. No issues at all.
Keith ************
This is one reason to eventually go to the income method, if possible. Keep less in a Thai bank. Also, you can set up text and email alerts for every withdrawal, as well as a daily limit on withdrawals. And balance texts and emails every day.
Martin *****
Get a agency to take care of it if you dont trust the 800k in a bankaccount.
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baht for a done dealTony ********
@Martin ****
where?Martin *****
@Tony *******
. Could be a little bit more if they have to open up a bankaccount for you at Bangkok bank. Probably 15.000 baht. Last year I payed 12.900 baht but I already had a bankaccountTony ********
@Martin ****
I have bkkMartin *****
@Tony *******
. Just contact themTony ********
Thank you very much
Tony ********
Martin Pol sent email...wait
Reply to
Tony ********
Reply
Martin *****
@Tony *******
. Cambodian travelTony ********
@Martin ****
link agency?Martin *****
@Tony *******
. Just Google itTony ********
@Martin ****
don't haveMartin *****
@Tony *******
. Google mapsTony ********
@Martin ****
Are you sure they ask 12 thousand?Tony ********
@Martin ****
thanksTony ********
Are you sure they ask 12 thousand?
Reply to
Martin *****
Reply
VaiAna **********
@Martin ****
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baht won't even get you a non o visa ?Todd *********
@VaiAna *********
it will get you a one year extensionReply to
Todd *********
Reply
Ivan ***********
Ron ********
ORIGINAL POSTER@Martin ****
could you pass along the name and location of one of the agencies you mention? TIAVaiAna **********
@Ron *******
make sure the visa agents are legit . Do your homework . *****
baht seems low for a non 0 & retirement visaMike ********
@VaiAna *********
I’ve had quotes for 30k bht +,….!Todd *********
@Mike *******
for a 3 month O visa plus 12 month retirement extension, that’s the going rate. Pretty fairReply to
Todd *********
Reply
Todd *********
Better off leaving your money at home to collect dividends or interest. And use an agent here
Noel *********
Todd *********
@Ron *******
the owner of this page @Thai *****************************
Ron ********
ORIGINAL POSTER@Todd ********
thank youTodd *********
@Ron *******
just reach out via FB and they will give you any details you needReply to
Todd *********
Reply
Martin *****
@Ron *******
. Cambodian travel in pattayaRon ********
ORIGINAL POSTERReply to
Ron ********
Reply
Brandon ************
I'm not sure what you're asking here. The 800,000 transferred from overseas is a firm requirement to qualify for the initial non-O 90 day visa and having 800,000 in a bank account is a requirement for the 1 year extension.
Steve ********
For retirement visa/extension I advise to use the 65k/month transfer method. This way you never have to tie the money up in a Thai bank account. As soon as it hits the deck, it's yours to spend. The first thing I do within a day of receiving the dosh is pay the rent, pay electricity and water, and pay the internet. That's the month's obligations taken care of, the remainder is then technically "fun" money. I invariably use QR code payments for just about everything. Helps keep tabs on monthly spending.
Mike ********
@Steve *******
Good advice,.Jim ********
@Steve *******
You must have used the 800k method the first time you appliedSteve ********
@Jim *********
No. I originally entered on an OA visa, so I had two years to start the 65k/month regime before I applied for my first extensionReply to
Steve ********
Reply
Ron ********
ORIGINAL POSTER@Brandon ***********
thanks Brandon, more concerned about the Thai banking system and how safe the money will stay over the years. I’ll edit my post to add that. ThanksBrandon ************
@Ron *******
up to 1 million baht is insured similar to the FDIC in the US. There's also new banking regulations starting next month that will not allow you to make transfers greater than 50,000 baht without biometric approval.
John ***********
@Brandon ***********
what is biometric approval exactly?Brandon ************
@John **********
you have to go into the bank where they will scan your face and then you cannot make any transfer over the limit without your phone scanning your face and matching the photo the bank has or you going into the bank and matching there. At least that's my understanding based on news articles.John ***********
@Brandon ***********
gotcha, thx. My face is going to crack that scanners lens.😁David ****
@Brandon ***********
any idea if this will allow transfers over 50k baht to banks other than the 3 that allow it now? My phone app keeps mentioning the need for a photo.Brandon ************
@David ***
the new regulations are only about domestic transfers between Thai bank accounts. I don't think it will have any effect on the transfer limits into Thailand.David ****
@Brandon ***********
Ah ok. Thank you for respondingReply to
David ****
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What are the best banks to use in Thailand for transferring funds to settle a NON-O retirement visa?
31 comments
3 years ago
19 comments
3 years ago
14 comments
3 years ago
69 comments
3 years ago
8 comments
4 years ago
89 comments
5 years ago
44 comments
5 years ago
36 comments
5 years ago
43 comments
6 years ago
124 comments
6 years ago
17 comments
7 years ago
0 comments
7 years ago
7 comments
a month ago
9 comments
a month ago
21 comments
a month ago
16 comments
a month ago
8 comments
a month ago
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