Transfer 800,000 Baht to Thailand (non immigrant O-A visa)

[Danderman123]

A requirement for O-A retirement visa is 800,000 baht in a Thai bank account for 2 months prior to application for the visa. I suspect that maintaining that amount when applying for an extension is also a requirement.

 

My question is the approved manner for transferring money from abroad, would a bank wire transfer be sufficient or is there some special method for the visa?

 

Also, would a standard Thai bank account be sufficient or is there a special bank account for a retirement visa?

[Upnotover]

Where are you thinking of applying for the O-A visa?  In the UK for example the money can be in a UK account for 1 month.  It is not needed to be in a Thai bank.

 

A subsequent extension of stay will indeed need money in a Thai account (no special account needed), but that can be almost 2 years after you get the original O-A.

[DrJack54]

The reply from @Upnotover is good reply. 

Best you explain exactly where you are along with your plans. The non O-A is obtained in your own country and the money can remain in home country bank account. Also as pointed out you can obtain almost 2 years stay with a non O-A. 

After that extensions will required money in a Thai bank account.

Also from start right through to obtaining extensions you will require insurance. Downside of a non O-A as the insurance is pretty much useless.

When you eventually want to transfer funds to Thai bank one highly recommended option is Transferwise.

Recently rebranded to "Wise"

For extensions the requirement is 800k for two months prior and 3 months post day of application. Then not below 400k and back up to 800k prior to day of next application.

Some folk choose to just keep 800k+ all year. Best option IMO.

 

 

Edited March 30, 2021 by DrJack54

[Danderman123]

2 hours ago, Upnotover said:

Where are you thinking of applying for the O-A visa?  In the UK for example the money can be in a UK account for 1 month.  It is not needed to be in a Thai bank.

 

A subsequent extension of stay will indeed need money in a Thai account (no special account needed), but that can be almost 2 years after you get the original O-A.

I am in the USA.

 

In what form should the bank information be conveyed to the Consulate? I am assuming that a screen print from my bank web site won’t be enough.

[DerbyDan]

4 hours ago, DrJack54 said:

Downside of a non O-A as the insurance is pretty much useless.

 

Why would the medical insurance be useless?

 

I was going to use this as my primary medical insurance during retirement.

[DerbyDan]

1 hour ago, Danderman123 said:

I am in the USA.

 

In what form should the bank information be conveyed to the Consulate? I am assuming that a screen print from my bank web site won’t be enough.

 

Most banks will issue a balance letter. They say you have so and so in liquid funds over a certain amount you specify. No need to give the whole balance or your entire account numbers.

 

Better if they can snail mail it to you. Consulate is asking for an original, not a printout.

 

My bank you can get the letter online and sent out without calling. I just type in the amount I need it to say and it's sent.

Edited March 30, 2021 by DerbyDan

[Upnotover]

1 hour ago, Danderman123 said:

I am in the USA.

 

In what form should the bank information be conveyed to the Consulate? I am assuming that a screen print from my bank web site won’t be enough.

The Embassy in Washington states;

 

6. US or Thai bank statement or evidence of adequate finance showing a deposit of the amount equal to and not less than 800,000 Baht or an income certificate (an original copy) with a monthly income of not less than 65,000 Baht, or a deposit account plus a monthly income totaling not less than 800,000 Baht In the case of submitting a bank statement, a letter of guarantee from the bank (an original copy) is required

 

I am sure that they or whichever consulate you intend to use would clarify what they want if this is not clear.

[UKresonant]

1 hour ago, DerbyDan said:

 

Why would the medical insurance be useless?

 

I was going to use this as my primary medical insurance during retirement.

 

For a O-A application in home country, not much use for actual insurance purposes, it may have an initial exclusion period and have a clause that it may not pay out if the policy holder has not been in Thailand for 6 month in 12, (Thai insurance general clause I think). (so also pretty useless for people not continuously using the ME aspect)

 

Because it was instructed to have 40000THB outpatients cover, it makes it much more expensive (I think most, like me would not even think of insurance claims for sub 10000thb quick visit to the Hospital for food poisoning of antibiotics for a throat infection). Also if underwritten, the pool maybe  50 plus age group rather than the general insurance pool of all age groups. Where a normal policy would most likely 

provide much better cover Vs Policy.

 

The amount of cover it provides is quite low relatively, it is more like something that would cover a excess on a more substantial policy, but then there would be an argument on what policy would pay first.

 

The objective stated as the need to introduce that insurance, was the hospitals were not getting bills payed. Well if that was the motive, the implementation has totally and absolutely failed. In addition it falls short of your hope using it as primary insurance I would anticipate.

 

Wouldn't it be good if it was just an outpatient requirement, that recognised that we may not be in Thailand continuously, wish to cover minor OPD bills ourselves, and be integrate it with other insurances, and self insurance, to give wholesome spread of cover that is more likely to meet the original objective. 

 

But unfortunately the un-useful requirement exists in fact. (and why I scored the O-A of my list of possibles in October 2019) glad you caught me in a positive mood ????.

Edited March 30, 2021 by UKresonant

[Danderman123]

4 hours ago, DerbyDan said:

 

Most banks will issue a balance letter. They say you have so and so in liquid funds over a certain amount you specify. No need to give the whole balance or your entire account numbers.

 

Better if they can snail mail it to you. Consulate is asking for an original, not a printout.

 

My bank you can get the letter online and sent out without calling. I just type in the amount I need it to say and it's sent.

will such a letter satisfy Thai visa requirements?

 

How does it meet the requirement to have the money in the account for 2 months prior to visa application?

[DerbyDan]

8 minutes ago, Danderman123 said:

will such a letter satisfy Thai visa requirements?

 

How does it meet the requirement to have the money in the account for 2 months prior to visa application?

 

I can't find that 2 month requirement at the Los Angeles Consulate. 

 

The 2 month thing may only be for annual extensions later in Thailand.

 

https://thaiconsulatela.org/en/visa/visa-type/non-immigration-category-o-a/

 

4.   Bank statement or evidence of adequate finance showing
      – a deposit of the amount equal to and not less than 800,000 Baht; or
      – an income certificate (an original copy) with a monthly income of not less than 65,000 Baht; or 
      – a deposit account plus a monthly income totaling not less than 800,000 Baht. 
      – In the case of submitting a bank statement, a letter of guarantee from the bank
        (an original copy) is required. 

 

If they need something that's not specified I suppose it's incumbent on them to ask.

[Crossy]

53 minutes ago, Danderman123 said:

will such a letter satisfy Thai visa requirements?

 

How does it meet the requirement to have the money in the account for 2 months prior to visa application?

 

The 2 month requirement is for when you wish to extend your stay in Thailand, not the initial application at a consulate.

 

But consulates do sometimes have their own rules, best to check with the one where you are applying.

 

When extending in Thailand a regular savings account works, it must be in your name only and have "instant" access to the funds (so certain investment type accounts are excluded).

[ubonjoe]

A complete list of OA visa requirements is on the webpage. https://thaiembdc.org/2020/11/17/oalongstay/

You will apply for the visa online here. https://www.thaievisa.go.th/

Which location will issue your visa and certificate of entry depends upon where you are living. 

You can find a map showing the embassy and the 3 consulates areas of responsibility is at the bottom of this page.

https://thaiembdc.org/2020/07/23/faq-for-non-thais-wishing-to-enter-thailand-during-the-covid-19-pandemic/