NON O Visa extension amount in THB or other currency

[consulb]

Hello,

 

Nov 2020 i have to do my first extension of my NON O Visa based on retirement. When i apply last year in november i showed 800.000 THB in my kasikorn account. The IO told me the 800.000 THB have to stay three month in my account, and after that three month the minimum deposit must be 400.000 THB. Two Month before my extension the amount must be 800.000 THB again.

 

I asked the IO if the minimum amount of 400.000 THB can also converted in another currency. IO said that is not a problem as long as it is equal to 400.000 THB. So after 3 month i transfered around 500.000 THB in euro to my euro account also at kasikorn Bank. This money i never touched. In september i plan to transfer from another account outside thailand 300.000 THB again to my THB account. So i have 500.000 THB in euro on my euro account. And 300.000 THB in my THB account. So complete 800.000 THB again. Both at Kasikorn Bank here in TH.

 

So today i met a friend and he told me this is not possible. The money have to be in THB here in Thailand, Immigration will not accept another currency for an extension. Now i start to be a bit worry, and i not find any information which is 100% clear. Can someone give me advice whether this is true or not?

 

Thank you

 

 

 

 

[glegolo]

I thought the big deal here was that the money should be in ONE bankaccount NOT several...

but I might be wrong

 

glegolo

Edited August 31, 2020 by glegolo

[Prizma]

It is possible!
I had this done at my last extension but both accounts needs to be in Thailand. You get a confirmation by your Bank on both your accounts: The Foreign Currency Account AND the Thai-Baht Account. 
This will be counted together. 

[timendres]

3 minutes ago, Prizma said:

It is possible!
I had this done at my last extension but both accounts needs to be in Thailand. You get a confirmation by your Bank on both your accounts: The Foreign Currency Account AND the Thai-Baht Account. 
This will be counted together. 

And be sure that the Euro account is valued at over 500k THB, lest you get boned by a move in the exchange rate.

[ubonjoe]

5 hours ago, glegolo said:

I thought the big deal here was that the money should be in ONE bank account NOT several...

but I might be wrong

You are wrong. There is no requirement for to be in only one bank account.

 

6 hours ago, consulb said:

So i have 500.000 THB in euro on my euro account. And 300.000 THB in my THB account. So complete 800.000 THB again. Both at Kasikorn Bank here in TH.

The amount of the funds in euro will be converted to baht using the exchange for the day the bank writes a letter confirming your account and the balance in it. That amount is what immigration will use when you apply. The total will have to be at least 800k baht.

[glegolo]

21 minutes ago, ubonjoe said:

You are wrong. There is no requirement for to be in only one bank account.

Joe, thank you so much, lesson learned today.....

 

glegolo

[Peter Denis]

6 hours ago, timendres said:

And be sure that the Euro account is valued at over 500k THB, lest you get boned by a move in the exchange rate.

Yes, you need to ensure that you have sufficient 'exchange rate buffer' because the foreign money on the thai bank-account will be calculated using the exchange-rate on the moment of application (and not the moment that you transferred it to your account).

 

[consulb]

ok, so i see my information was not wrong.

Thank you to all for support...????

[sencelebi]

Money can be in any currency, but there is a catch, all the money has to be in the same account not in several accounts.

Some IO might be ok with several accounts but most will be giving you hard time. I know from a friend in Samui. 

Edited September 1, 2020 by sencelebi

[ubonjoe]

3 minutes ago, sencelebi said:

Money can be in any currency, but there is a catch, all the money has to be in the same account not in several accounts.

Some IO might be ok with several accounts but most will be giving you hard time. 

There is no rule that it can only be in one account. Many people have more than one account when applying for a extension.

I would say there are very few offices that insist upon only having one account.

[Max69xl]

18 hours ago, glegolo said:

I thought the big deal here was that the money should be in ONE bankaccount NOT several...

but I might be wrong

 

glegolo

You need to have the money in the same bank. You can have more than one account. 

[Max69xl]

6 hours ago, consulb said:

ok, so i see my information was not wrong.

Thank you to all for support...????

Well, your friends info was wrong. 

[DaRoadrunner]

I have obtained a Retirement Visa at CW using a Bangkok Bank US$ account.... no problem, the IO just converts it into Thai Baht. Note:- Foreign currency accounts are not guaranteed by the Bank of Thailand. But then nothing is ever guaranteed in Thailand is it!

[bbudd]

Best to verify with your IO well before

 

In Mae Sai they rejected my application when submitted with a foreign currency account even with certified bank letter and seasoned for years not months

I have since talked to another person who was granted visa with similar funds in Mae Sai

While there last week I saw another falang using funds from 3 separate accounts

 

Seems its totally at the discretion of the officer-so be prepared

[dinger]

I know the answer is here somewhere but after searching can't seem to find answer.

Does the 400,00/800/000 need to be in any special type of account ie. long term... or is a regular savings account ok. Thanks for help

[BritTim]

4 hours ago, dinger said:

I know the answer is here somewhere but after searching can't seem to find answer.

Does the 400,00/800/000 need to be in any special type of account ie. long term... or is a regular savings account ok. Thanks for help

The key rule that it must be in an account in Thailand which allows withdrawals at any time up to the full amount with no penalty other than loss of interest.

[Peter Denis]

4 hours ago, BritTim said:

The key rule that it must be in an account in Thailand which allows withdrawals at any time up to the full amount with no penalty other than loss of interest.

Also worth mentioning is that it must be a PERSONAL thai bank-account on your name (a joint one with your thai wife is not accepted by IO, and if they do accept it the amount must be double of what is normally required).