Until now I have used a savings account at Kasikornbank for the 800,000 Baht requirement to extend my non-immigrant O visa (retirement basis).

 

I am being encouraged by friends to invest that money in the Government Savings Bank lottery scheme instead, because the returns will be better (possibly much better if I get lucky).

 

So I opened a savings account at the GSB yesterday with 500 Baht and was told that I can invest in the lottery scheme, but that as a foreigner I can only be issued with paper certificates and cannot participate via the MoMo app (which has some financial benefit).

 

Can anyone confirm that a holding/bond/certificate/ticket (not sure of correct terminology) in the GSB lottery scheme can be used to fulfill the 800k visa requirement? I want to be sure before I transfer the money and make the purchase.

 

 

Sorry, don't know the lottery scheme.

 

But the 800k has to available to the account holder directly without a financial penalty. Is that the case with this lottery?

 

We managed to get through to the immigration department and I can now answer my own question: It's not possible to do this. The 800k Baht must be in a "normal" account.

 

Probably best discussed here if anyone has anything to add on the scheme itself. I may still invest in it.

I'ld be careful. Sounds like a bit of a lottery to me.

My wife has an investment in the GSB lottery scheme and has won many many times. the least was ฿200 and the best was ฿20,000. Just last month she won ฿900.

She has had money invested in this scheme for many years, the return on her investment beats bank interest.

I've got no idea how it works, even after the wife tried to explain it to me. She's happy, I'm happy.