When opening a bank account in Thailand to transfer the 800k baht required for retirement visa is this in a savings or current account? 🙏
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TLDR : Answer Summary
In Thailand, for the 800,000 baht requirement of a retirement visa, you typically need to open a savings account. However, it often functions similarly to a current account, as many users report conducting day-to-day transactions from these accounts without significant interest. It's important to note that to open a bank account in Thailand, you generally need a long-term visa, not just a tourist visa.
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.
The money is,but you never withdraw money from an FDA because you will lose interest.Get it? Where do you think I park a large piece of my money? It's allowed at immigration. Then I use my savings accounts for daily transactions and payments.
Well,that's why you can park your money for immigration in a Fixed Deposit Account. The interest is much higher than in a savings account. That's where a large part of my money is parked.
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Max *************
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Simon *********
It's a savings account, but functions as current account
Paul ******
Mine went in current account. No problems
Neil ********
Savings account here is a current account as per UK without the option of a credit card.
I have a savings account with Bangkok bank with a credit card and also a deposit account with fixed term interest. Am on a retirement visa and could only open the latter after converting the non O to the retirement visa
Last I checked, banks offer up to 2.5% interest, depending on term of commitment (6 months - 2 years) with substantial interest penalty for early withdrawal.
Ich würde auch eher zur SCB gehen, oder Kasikorn, Krungsri
Rok ********
Saving a/c
Jim *******
Savings could be under yourmatress.
Chris ***********
Either
Paul *****
Savings
Ken ********
the embassy in HCMC told me having proof of monthly deposits (SS) and retirement accounts in a brokerage is sufficient. My point being that I didn't want to transfer such a huge sum of money from retirement and incur a heavy income tax burden.
Pour moi mon compte est un compte courant je peux même payer les commerçants via le scanne
Michael *******
SCB Easi Pass offers 2.5% before tax if you plan to keep the 800k here been using if for 5 years - it’s an immediate access deposit a/c which keeps immig happy
SCB does with their easi pass and it meets Immig requirements and all online no irritating passbook
Chris ******
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?
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
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