My revenue department said it clearly. You stay 180 days or more, you must declare your money. It may come out to 0 (like me), or no declaration (like others told me), but you’re liable in any case.
And to make it even worse, read here about the tax clearance certificate
You need a Thai bank anyway for your visa. I use Wise to keep my money waiting for good exchange rates (like right now - I’m Swiss - 40:1), not as the account for daily use.
But you can send the money from Wise to any account in the world.
I don’t understand your need for a card. I use the card only to pay for goods and services around the world. If I need cash, I get it from one of my other bank accounts.
BTW: all banks hold the money virtually, not only Wise. Or how can it be that they lend about 50 bucks for every 1 buck that they really own? And how can a transfer from one end of the world to the other be done in a second?
He should get the basic nonO (not OA!) for retirement. No insurance needed.
And then get the yearly extension. But make sure the immigration accepts the money in the Thai bank (they had me prove that the money came from outside).
If the exchange rate is your most important argument to wait with the transfer, then you should use Wise.
You can’t get better rates than that with any other bank.
(And please note: many talk about fees. That’s BS. The fees of Wise are about 0.5%, while the exchange rate is 2-3% better than the old fashioned banks)
If you use my link, we both get some small benefit.