Will transferring my 800k to a different account in the same bank affect my Non O - Retirement visa?

Non O Visa Retirement Visa Bank Account Transfer Visa Requirements Proof of Funds Thailand Banking Regulations

Mar 20, 2024

8 months ago

ORIGINAL POSTER

Hello all, Question about the 800k in a bank account.. I currently have the money in Bangkok Bank on an account that is giving me a super low interest rate.. I went to a branch and they do have other better options giving 1.2%, up to 1.8% etc.. my question is.. would there be a problem with my current Non O - Retirement basis visa  if I transfer the money from one account to another type of account within the same bank? I won't withdraw any money, just changing account flavors, Has anyone tried ? Thanks in advance.

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TLDR : Answer Summary

The user inquires whether transferring 800,000 THB between different account types at Bangkok Bank could impact their Non O - Retirement visa status. Community responses highlight that, while it's generally acceptable, caution is advised to maintain compliance with immigration seasoning requirements. It’s crucial to keep at least the minimum balance in a primary account and to avoid freezing the funds during the transfer. There are recommendations to ensure that the new account type complies with immigration rules for proof of funds.

NON-O RETIREMENT VISA RESOURCES / SERVICES

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James ********

I believe that the OP has the answers needed for his question.

Thanks all for your helpful replies.

Comments Closed

8 months ago

Graham ******

If you transfer money regularly to Thailand for your day to day living expenses why haven't you looked into switching to the 65k method (I assume your Embassy does not issue the income affadavit)?

8 months ago

Caesar ******************

ORIGINAL POSTER

No I don't have 65k a month coming in so I can't use that method

8 months ago

Reply to

Caesar ******************

Michel *****

I asked the same question to CW immigration 2 weeks ago, still waiting for an answer ...

8 months ago

Tod *********

@Michel ****

the answer is exactly what I posted 😛

you can have a fixed/term deposit as long as it's the type where you can access the funds at any time during the deposit.

the type where the funds are locked in the account where you can't access them can't be used

AND

if you're moving the money I'd still do it in "400k baht steps" so NO account goes below 400K during the move

8 months ago

Reply to

Tod *********

Colin ******

Yeah you have to have literally a saving account that has access, no fixed rate bonds, i had it about 12 years ago, money was in a decent interest rate bond type of account, immigration it was a definate No, yeah id like to know highest interest rate savings account which are valid aswel

8 months ago

Ellie *******

@Colin *****

, you can use "fixed account" now as long as it is accessible anytime even with extra fees. You cannot use 'frozen' (<-which is an account you cannot withdraw money from for a certain time) fixed account though.

8 months ago

Reply to

Ellie *******

Tom ********

I did this about 2 years ago. Time deposit, same bank, but moved it to a different branch.

I was successful, but had to do extensive copies of both Bank Books.

8 months ago

Tod *********

@Tom *******

yep, they will require the bank book and transaction details of both accounts AND they will sometimes huff and puff about you doing it BUT there is nothing in the rules which say you can't as long as the money doesn't leave the bank

8 months ago

Reply to

Tod *********

This question comes up from time to time (because of the abysmal interest rates paid by thai banks on straight savings accounts)

If you're talking about a fixed/term deposit remember there are two types of those in thailand and you can only use ONE of them for proof of funds by banked money method

One type of fixed/term account allows you to access the money any time during the term of deposit (even though you pay a penalty or lose the accrued interest) and this type you CAN use for immigrations

The other type of fixed/term account has the principal deposit frozen in the account for the term of the deposit and you can only access the accrued interest and this type you CANNOT use for immigrations

No matter how you do it, (even though it's the same bank, you're moving it electronically the same day, blah-blah-blah) I would move HALF the funds (keeping the 400K baht minimum in the primary account) then a day later move it, So that way you NEVER broke the seasoning requirements.

I have seen people get given a hard time at immigrations because they moved accounts even though the money never left the bank

8 months ago

Dave ************

@Tod ********

Curious Tod if one can see on the account an indication that it is marked as such. I've had my funds in different one year fixed accounts for years now, I used to open new accounts at whatever the prevailing rate was, now I just let it rollover. At any rate, never knew of this and wondering if I can see on my bankbook a notation as such. I always thought my account couldn't be touched.

8 months ago

Tod *********

@Dave ***********

I would wager you have an account that you COULD access the funds at any time (although you could get a penalty or lose the interest)

8 months ago

Reply to

Tod *********

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