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Answered2 years ago

Will splitting my required retirement visa funds across two banks affect my visa renewal in Thailand?

Tony **********
asked May 31, 2024
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Hi, I’m living in Bangkok on a retirement visa keeping the required THB funds in an account with Krungthai bank. I am considering opening an interest bearing savings account with Bangkok Bank but am concerned whether having my required funds split across two banks, including a fixed interest account, will present an issue with my visa renewal next year?
Answer summary
The user is concerned about the implications of having their required funds for a Thai retirement visa split between two banks, particularly with respect to visa renewal. A commenter advises that as long as the user maintains access to the funds, having a fixed interest account is permissible, provided the funds are not frozen for the duration of the deposit.
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Tod *********
Tod *********
as long as you have access to the funds (even if you get a penalty or lose all the interest( you can have a fixed account.

They do not allow fixed (term) accounts where the funds are frozen for the term of the deposit.
Tony **********
Tony **********
OP
@Tod ********
and is it ok to split the required funds across 2 accounts? The transaction to move the funds from the existing account should happen on the same day.
Tod *********
Tod *********
@Tony *********
don't let the primary account go below 400K baht (as that's the minimum you need in an account all the time using banked money method on a retirement extension AND don't do it within 3 months of getting a new extension granted

Otherwise go ahead and move it, just know next year, you'll need two bank letters, update bank books on two accounts and get the year statement print out for them.
Tod *********
Tod *********
@Álex *******
your bank knows what it is, looks like this
Álex ********
Álex ********
@Tod ********
I'm in a similar situation, just holding my 800k in one account. What is the required bank letter exactly ?
Tony **********
Tony **********
OP
@Tod ********
Thank you for your advice.

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