What type of bank account should I open in Thailand for the 800k baht requirement of a retirement visa?

@Brook *******

cool. Will check I that out

@Phi****

Yes you can

op🙏🏻, I know the interest need to pay tax and Thai baht around 1%.. i saw a promotion on bk bank offer 3.8% for usd, (since other overseas banks has 4.1 to 4.3 thesedays) but that 800k count .. question :

- If time deposits still qualified as 800k when renewal visa but not mature

- any other Thai bank or Thai institutions like broker account uninvested cash that 800k still accepted by visa extension?

And can that 800k sit in overseas bank?

Thx

@Phillip *********

once the account is approved and active, ATM card, debit only not credit, can be issued on the spot. My savings account at Kbank yields 0.25% interest, payable June and December, minus withholding tax, I think 15%. With the high inflation we have now, money sitting in a savings account is loosing purchasing value

@Phillip *********

interest will be next to nothing. I know you can get a bank card at Bangkok Bank but unsure about the others.

@Phillip *********

Probably more or less than around 1%.

@Phillip *********

small amount of interest. Atm card ,and a app on your phone.for transfers and putting money in to your Account.You must have a Thai Phone number. Never lose that number

@Phillip *********

yep if you are with Bank of Bangkok but don’t expect a lot of interest! They also take off taxes the same day you touch interest 😂😂