You can legally have a bank account, although hard to get. That's not the problem. The problem will be the cost to your employer to transfer your wages into your Thai bank account, as it is not free to do. It can be very expensive.
lolol, just in the small city I was in before I moved here there were 14 overstays from Thailand that I knew personally, and that wasn't counting their family members also here.
it's all the same as your last extension, but you are starting over, and have the bulk amount in the bank instead of monthly payments, so it is the same, with the same documents. This time though you have to do it all again when you apply for the one year extension, which requires all new updated documents again as soon as the immigration office you use will let you apply for the extension, as your bank money is already seasoned.
Bangkok Bank, Kasikorn Bank, and SCB bank, are the only Thai banks that do not have the bt50,000 limit on non-swift international money transfers. All Thai banks accept any amount when the transfer is done with a SWIFT international bank to bank transfer.