Savings Account Requirement For Retirement Visa

[Miami Bob]

As most of us know by now, you must have the required amount in a Thai bank account for 90 days prior to applying for your retirement visa. My question is: Can the money be kept in 3 month fixed savings account which pays much more interest that a regular Thai savings account? The immigration officer always looks at your savings account passbook but I don't think that money kept in a fixed savings account will show in your regular passbook. Will that be a problem? Also, when you get your letter from the bank showing how much money you have will they count money kept in a fixed savings account? Has anyone out there actually tried to use the fixed savings account to meet the requirement and what happened??

[Lite Beer]

Fixed account no problem for me in Samui. It seems a lot of people have had success using this account.

[lopburi3]

I have seen many reports of using fixed accounts and none that have reported them not being accepted. But it will be up to the officers involved. A fixed deposit has a passbook just like a passbook savings account and bank should be able to write a letter of account balance so that should not be a problem.

[naka]

I have seen many reports of using fixed accounts and none that have reported them not being accepted. But it will be up to the officers involved. A fixed deposit has a passbook just like a passbook savings account and bank should be able to write a letter of account balance so that should not be a problem.

Yes, and probably just show the letter ( don't offer to show the passbook )

Naka.

[lopburi3]

Passbook is a required document for those using bank deposit method.

[Miami Bob]

Thanks guys for your responses. I went by immigration today and actually was able to read the rule in the official book they showed me. It says " In a Thai bank". No mention of what type of account is required. Of course as we know it always can depend on which officer you get and whether or not he himself knows what the book says, but going by your responses I think we can safely say there is a 99% change a fixed account will be accepted. Thanks again. Miami Bob

Edited March 21, 2007 by Miami Bob

[lotus eater]

An important feature that the immigration officer should take into account is that the so-called 'fixed' deposit account can be broken if the money is needed; of course the interest earned may be forfeited.

Do post what happens in your case.

I'll be making an application on a similar basis in May - in Chiang Mai.