Bank account balance requirements for retirement visa

    I understand that you need to show a balance of at least 800000 THB in your bank account that is sitting there 60 days prior to your initial 1 year retirement visa application.The question is - Do you have the same requirements EVERY time you renew your visa? And if so, what happens when you apply for the 5 years visa? Do you NOT need to meet the requirements of that balance throughout your 5 years stay?Thanks in advance

Yes,every time. It's 2 months prior to the day you apply for every 1 year extension, not 60 days. Your questions have been answered over and over again here at expat.com. When extending the stay 1 year on an initial O,O-A or O-X,the requirements when using the money in the bank method are the same. The money is not "just sitting there", you can have more than 800k in your account and use it for your daily living.

@Leeds forever!

So I can obviously use the money throughout the year as long as 2 months prior to application for renewal there is 800000 THB in the balance?

    @Leeds forever!
So I can obviously use the money throughout the year as long as 2 months prior to application for renewal there is 800000 THB in the balance?
   

    -@Guy Dolev

During 90 days after the application you can't go below 800k. So, 2+3 months with not less than 800k,then next 7 months with not less than 400k. Then top it up again 2 months prior to next 1 year extension. This is non-negotiable at immigration. Screw up and your next application will be rejected.

@Leeds forever!

Thanks. That clarifies it a lot as i couldn't find a clear answer to that on the immigration websites

    @Leeds forever!
Thanks. That clarifies it a lot as i couldn't find a clear answer to that on the immigration websites
   

    -@Guy Dolev

To be on the safe side, I have an account with 1 million baht in it and never touch it. I use other accounts in Thailand to live and move money around.

On the day of renewal, I deposit 100 baht to update the passbook and pay for the immigration letter and annual statement. I've never had an issue -- even before the deposit requirement -- and I've been at it for 15 years.

        @Leeds forever!Thanks. That clarifies it a lot as i couldn't find a clear answer to that on the immigration websites         -@Guy DolevTo be on the safe side, I have an account with 1 million baht in it and never touch it. I use other accounts in Thailand to live and move money around.On the day of renewal, I deposit 100 baht to update the passbook and pay for the immigration letter and annual statement. I've never had an issue -- even before the deposit requirement -- and I've been at it for 15 years.        -@Karambit

I'm doing the same thing.BUT, when parking ฿1 million or more in a bank account,you need to pick a bank (and an account) with a proper interest rate. Interests rates differs a lot between banks in Thailand. Bangkok Bank has a higher interest rate than for example Kasikorn Bank. I get 100% more interest on my money in Bangkok Bank than in K-Bank,which is a lot in the end. K-Bank is supposed to be a "people's bank",but it seems they have forgotten that.

I'm doing the same thing.BUT, when parking ฿1 million or more in a bank account,you need to pick a bank (and an account) with a proper interest rate. Interests rates differs a lot between banks in Thailand. Bangkok Bank has a higher interest rate than for example Kasikorn Bank. I get 100% more interest on my money in Bangkok Bank than in K-Bank,which is a lot in the end. K-Bank is supposed to be a "people's bank",but it seems they have forgotten that.
   

    -@Leeds forever!

Absolutely correct.  I have an account with BKK Bank and 2 other banks in Thailand.  Unfortunately, with BKK Bank, I have to wait a week for an annual bank statement for immigration when the visa renewal occurs. Can get the letter same day, but not the annual statement.

SCB and Ayudhya banks have same day service for both. I don't know about the other Thai banks.

@Karambit

You can download the statement from the app

at any time for Bank of Bangkok.

I've done it and it's cheaper than paying the

bank to do it

    @Karambit
You can download the statement from the app
at any time for Bank of Bangkok.
I've done it and it's cheaper than paying the
bank to do it
   

    -@scbrock

You still don't understand that most immigration offices don't accept a print out from a bank app when extending a stay. The bank statement from a bank is stamped and signed.

    I'm doing the same thing.BUT, when parking ฿1 million or more in a bank account,you need to pick a bank (and an account) with a proper interest rate. Interests rates differs a lot between banks in Thailand. Bangkok Bank has a higher interest rate than for example Kasikorn Bank. I get 100% more interest on my money in Bangkok Bank than in K-Bank,which is a lot in the end. K-Bank is supposed to be a "people's bank",but it seems they have forgotten that.         -@Leeds forever!

Absolutely correct.  I have an account with BKK Bank and 2 other banks in Thailand.  Unfortunately, with BKK Bank, I have to wait a week for an annual bank statement for immigration when the visa renewal occurs. Can get the letter same day, but not the annual statement.

SCB and Ayudhya banks have same day service for both. I don't know about the other Thai banks.
   

    -@Karambit

Earlier,banks were officially allowed to issue only 6 months bank statements.Thats why your branch has to obtain a 12 months bank statement from head office on Silom Road in Bangkok. My Bangkok Bank branch can issue a 12 months bank statement,though. I'm using copies from my updated bank book and immigration in Jomtien accepts those. 3 copies for ฿6. 😁 Sometime they ask to see the bank book and wants to compare, but not every year.

        @KarambitYou can download the statement from the appat any time for Bank of Bangkok.I've done it and it's cheaper than paying thebank to do it        -@scbrock

You still don't understand that most immigration offices don't accept a print out from a bank app when extending a stay. The bank statement from a bank is stamped and signed.
   

    -@Leeds forever!

It should be enough the printed out statement then

the letter from the bank. It worked for me but if it

doesn't work for you oh well. Do what you need to do

Your questions have been answered over and over again here at expat.com.    -@Leeds forever!

I bet he's sorry he asked now. Let keep those pesky expats away and have the group all to ourselves.

@wozzlegummich

My question was more relevant than your question about "Income instead of 800000BHT balance"... Something anyone with a phone and internet connection can find out...

    @wozzlegummich
My question was more relevant than your question about "Income instead of 800000BHT balance"... Something anyone with a phone and internet connection can find out...
   

    -@Guy Dolev

That's what I'm been telling people here almost every month. If you know how to use Google,common requirements at immigration is easy to find.

This Bloke is taking the Piss,

For the Non-Immigrant (O) extension, you need 800K baht in a Thai bank for 60 days. Is Krungsri bank okay for this purpose? Asking for a friend (no, really).

    For the Non-Immigrant extension, you need 800K baht in a Thai bank for 60 days. Is Krungsri bank okay for this purpose? Asking for a friend (no, really).        -@rbakker

Any thai bank will suffice. When it's time for the application, a bank letter from the bank is needed. It verifies the owner of the account and the balance. Fee: ฿100. The bank book must be updated showing same balance as the bank letter. Immigration also wants a 2 months bank statement or copies from the bankbook. It's normally accepted. And it's 2 months,not 60 days. It's not the same thing.

Thanks!

I'm doing the same thing.BUT, when parking ฿1 million or more in a bank account,you need to pick a bank (and an account) with a proper interest rate. Interests rates differs a lot between banks in Thailand. Bangkok Bank has a higher interest rate than for example Kasikorn Bank. I get 100% more interest on my money in Bangkok Bank than in K-Bank,which is a lot in the end. K-Bank is supposed to be a "people's bank",but it seems they have forgotten that.
   

    -@Leeds forever!

If I may ask, what sort of interest can one get on an account at Bangkok Bank, an account which will satisfy the requirements for yearly extensions of the Non-Immigrant(O) visa?

In this link:

https://www.bangkokpost.com/business/ge … loan-rates

it says:

Bangkok Bank said its deposit interest rates would increase by between 10 and 25 basis points, to a maximum of 0.55% per year. E-Savings deposits under 1 million baht will pay 1.50% per year and those over 1 million baht will pay 0.65% per year. A new rate of 1.20% per year will apply to 3-month fixed deposits, 1.25% for 6-month deposits, 1.60% for 12 months, 2.00% for 24 months and 2.10% for 36-month fixed deposits.

Is 1.5% the best I can hope for in the above scenario or could I instead keep putting it in 36-month fixed deposits and still satisfy the Immigration people? Basically I'd like to know what you would do.

As always, thanks!

    I'm doing the same thing.BUT, when parking ฿1 million or more in a bank account,you need to pick a bank (and an account) with a proper interest rate. Interests rates differs a lot between banks in Thailand. Bangkok Bank has a higher interest rate than for example Kasikorn Bank. I get 100% more interest on my money in Bangkok Bank than in K-Bank,which is a lot in the end. K-Bank is supposed to be a "people's bank",but it seems they have forgotten that.         -@Leeds forever!If I may ask, what sort of interest can one get on an account at Bangkok Bank, an account which will satisfy the requirements for yearly extensions of the Non-Immigrant(O) visa? In this link:https://www.bangkokpost.com/business/ge … loan-ratesit says:Bangkok Bank said its deposit interest rates would increase by between 10 and 25 basis points, to a maximum of 0.55% per year. E-Savings deposits under 1 million baht will pay 1.50% per year and those over 1 million baht will pay 0.65% per year. A new rate of 1.20% per year will apply to 3-month fixed deposits, 1.25% for 6-month deposits, 1.60% for 12 months, 2.00% for 24 months and 2.10% for 36-month fixed deposits.Is 1.5% the best I can hope for in the above scenario or could I instead keep putting it in 36-month fixed deposits and still satisfy the Immigration people? Basically I'd like to know what you would do.As always, thanks!        -@rbakker

You can park your money in a savings account or fixed deposit account at for example Bangkok Bank and it will meet the requirements at immigration. Don't go for a 36 months FDA. The difference between 24 and 36 months is just 0.10% and 3 years is a long time. Interest rates fluctuates and if they go up, you'll still be stuck with the initial rate. I wouldn't go for a longer period than 24 months. But that's just my opinion. You can not withdraw money from an FDA-account if you want to keep the initial rate. Meaning, you'll also need a general savings account.

Thanks!