Hi, I am just opening my Thai bank account and wondered if anyone had advice on cheapest way of transferring large sums into the account. I can use Swift from my uk bank and have Wise and Revolut but open to any suggestions to minimise charges. Many thanks for any reply

which bank pays foreigners on dtv visa interest rate ? (Kasikorn refused)

My problem is I have fixed deposit and saving under same statement.

Combination of two amounts could meet minimum requirement for DTV application.

Will they combine these two amounts or I shall withdraw my fixed deposits to saving ? 🥲

For the Aussies in this group...

Since your superannuation was 1) taxed when the money was deposited, and 2) the withdrawals are tax free (at least in Australia)

Are transfers from your superannuation into your bank account 1) tax free due to reciprocal tax agreements with Australia, or 2) taxed since they consider the *withdrawal* as having been non-taxed?

Alternatively, if the transfer went from superannuation -> Wise -> convert AUD to THB -> transfer to Thai bank account, would this audit trail suffice to support your answer to the above question?

Finally, can you recommend a good accountant in Bangkok that would be familiar with this issue?

Anyone know if DTV holder can apply for work permit? Just wonder as to my understanding, without work permit, it's not possible to open the local bank account so I can use mobile to pay with QR code.

Can I put 800000 in a Thai account and just leave it there for each years extension?

Hello to everyone, for a non immigrant O Visa we should transfer 800 000 Baht from our own account onto our Thai account in Thailand. Right?

The question is, how does a declaration ( report) of this transfer to German authorities and Thai authorities work?

Who will report it ? we as the one who transfers or the Banks which makes this transfer or get the money in Thailand?

Thank you in advance for your suggestions and information 🙏😊🙏

Hi,

I’m considering a retirement visa and my query is about bank accounts.

I’ve owned a property in Thailand for 20 years which I rent out.

The developer sent me to TSB who opened an bank account for me to transfer into from uk for the property.

Will the funds now in this account qualify for the 800k, or do they need to be transferred in from uk? Cheers

ATTN MEMBERS: Seasoning on funds for banked money method for second year "retirement" extensions after using banked money the previous year

This question comes up a lot.

"𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗺𝘆 𝗼𝗳𝗳𝗶𝗰𝗲 𝘄𝗮𝗻𝘁 𝗮 𝘆𝗲𝗮𝗿 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗱𝗲𝘁𝗮𝗶𝗹 𝘀𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁 𝘄𝗵𝗲𝗻 𝗜 𝗮𝗽𝗽𝗹𝘆 𝗳𝗼𝗿 𝗮 𝗻𝗲𝘅𝘁 𝘆𝗲𝗮𝗿𝗹𝘆 '𝗿𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁' 𝗲𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝘂𝘀𝗶𝗻𝗴 𝗯𝗮𝗻𝗸𝗲𝗱 𝗺𝗼𝗻𝗲𝘆 𝗺𝗲𝘁𝗵𝗼𝗱?

The reason for this IS

IF you're currently on a year extension based on retirement now where you used banked money method last year, you were required by immigration rules to keep the 800k baht balance IN your account for 3 months after the yearly extension was granted and then the balance couldn't go below 400K baht the rest of the year (until 2 months before you apply for this new extension you brought the balance back up to 800K).

Now seeing as most people don't update their thai bank books all that often or all that regularly, when you finally get around to doing it, all it will print is a summary of funds in and funds out with a date range <- which doesn't show to the immigration office that you met the financial requirements last year (for the extension you're currently on now).

So to show that to them you get that year detail transaction print out. (This is in addition to the 'standard' bank letter AND updating your bank book on the date you apply for the new extension)

Keep in mind, some banks can print that year transaction detail on request, but some banks can take 5 to 7 days to get it for you. So if you think you might need it, stop in to your bank well before you're going to ask for it and see what their lead time is

Once you do get that print out It shows every transaction thru that account broken down by month for the previous year, with a balance printed for every transaction.

That way it shows immigrations if you failed to hold up your end of the deal when using banked money method for your extension last year and the coming one you're going to apply for this year

This is not a new rule, it is something immigrations came up with to see IF you met the seasoning requirements for the banked money method for the extension you're and for the new one you will apply for

The only times I've seen them NOT require it is if someone uses a "fixed/term" account where the funds stay in the bank all the time. They can and often will waive that report for that type of accounts

Hope this cleared it up some sorry it was long

So, would you agree that WISE is the wiser choice to transfer money to the Thai bank account? I compared the final outcome (including exchange rate and fees) and it seems to be the best option.