Help with Setting Up Bangkok Bank Account While Still Living in US

[JiminLA]

Hi guys, new to the forum,

     I am trying to apply for a VISA O-A here at the US Thai Embassy in Los Angeles, and am stuck on one, or a few points.  I still live here in the US, and one of the requirements as you know is to establish a 800,000 baht bank account in Thailand.  I was wondering if someone could assist me, since I don't see how I can establish the account if they require a permanent Thai address while, I do not have one.  I inquired with a bank correspondent who never replied asking, if I rent an apartment from here in the US and have that as my mailing/permanent address, would that suffice?  I would appreciate some assistance, since it seems the embassy tells you what you need, just not how to go about getting it.

Jim

 

Here's the requirements, and BOA has SWIFT, but I can't find a Form C anywhere on their website.  I have friends in Thailand, but didn't want to use their address for setting up the account.

2. Foreigner without work permit    

• Passport    
• A reference letter issued by one of the following institutes or organizations or required document     
  • Embassy located in Thailand or Certified Letter (Bank Form A)      
  • An overseas bank where the customer holds an account sent via SWIFT, reference requirements (Bank form C)   
  • Trusted individuals such as a Bangkok Bank staff member or customer, director of a private company, permanent residence in Thailand, government or private educational institutes located in Thailand trusted by the Bank or Letter of Reference for Foreigners (Bank form B)
  • Trusted companies, e.g., an employment letter from the company if the customer is in the process of applying for a work permit.    
  • Document showing ownership of a fixed asset such as a condominium sale/purchase agreement (a condominium which is acceptable to Bangkok Bank) Or a property reservation agreement valued at 100,000 baht or more with a reference letter from the property developer that is acceptable to Bangkok Bank.    

Notes: Contact addresses for both Thailand and overseas must be provided (hotel and P.O. Box addresses are not acceptable).    

[StayinThailand2much]

The problem is point 1 on the list. You cannot open a bank account from overseas in Thailand, and someone else cannot open one in your name. 

Edited May 14, 2022 by StayinThailand2much

[The Hammer2021]

Come here and sort  it out from this end.

[skatewash]

If you are applying for a non-OA (note that the A is significant) then you won't need a Thai bank account for nearly two years.  You meet any financial requirements for this visa by showing US bank balances.

If you are applying for a non-O (note the absence of the A) visa then you meet any financial requirements for this by showing US bank balances.

If you are applying for a 90-day non-O visa in Thailand (after arriving on a 30-day visa-exempt entry or 60-day tourist visa) then you must open a Thai bank account and show at least 800k baht balance on day you apply for the non-O.

After you have your non-O when you wish to apply for a one-year extension of stay you must show that you have had 800k baht in the account for two months before the date of application.

Thai bank accounts can be opened in Thailand in person only.

There's nothing you really need to do in the US before coming to Thailand except for a couple things.  Open any bank accounts you may want to have in the future (particularly accounts with for example, Charles Schwab Checking that will allow you to get reimbursed for the 220 baht foreign ATM card withdrawal fee, and say Capital One Credit cards that don't have a foreign transaction fee).  These kind of arrangements are much easier to do while in the US than from Thailand (although they can be done from Thailand if you maintain a US address). 

The other thing to take care of is that you wish to query your bank about whether you can do an online wire-transfer (SWIFT) from your US bank to a Thai bank.  Some banks require that you set up such a facility in person at your US bank (not sure it's even possible before you get your Thai bank account, so may not be possible before then).

While at it open an account online at Wise (formerly TransferWise) which will allow you in future to transfer money into Thailand from US at good exchange rates and reasonable cost.

 

Edited May 14, 2022 by skatewash

[Onerak]

4 minutes ago, skatewash said:

f you are applying for a non-OA (note that the A is significant) then you won't need a Thai bank account for nearly two years.  You meet any financial requirements for this visa by showing US bank balances.

If you are applying for a O-A visa you don't need money in a Thai bank. Money in your US bank is OK. That was the beauty of O-A visa till they ruined it with their bizzare health insurance requirements. I read they have streamlines the insurance requirements now from September. YOu can get O-A every two years and never have to set foot in an immigration office. Once you have the visa, you can come to Thailand and open a bank account. I used to get O-A for ten years when there was no health insurance requirements and I was using my United Health insurance with HSA card for any emergency in Thailand. 

[skatewash]

1 minute ago, Onerak said:

If you are applying for a O-A visa you don't need money in a Thai bank. Money in your US bank is OK. That was the beauty of O-A visa till they ruined it with their bizzare health insurance requirements. I read they have streamlines the insurance requirements now from September. YOu can get O-A every two years and never have to set foot in an immigration office. Once you have the visa, you can come to Thailand and open a bank account. I used to get O-A for ten years when there was no health insurance requirements and I was using my United Health insurance with HSA card for any emergency in Thailand. 

I agree that the non-OA visa was ruined with the addition of the health insurance requirement, but don't think it's going away in September.  Quite the opposite, it's being raised from $400k (USD) in patient, $40k outpatient coverage to $3 million coverage after September.  The only thing that may be an improvement is that apparently it will be slightly easier to use foreign, non-Thai immigration department approved insurance companies.

In my opinion the Non-O visa is the better way to go as there is no insurance requirement, but you do have to be willing to keep the 800k baht in a Thai bank. 

[The Hammer2021]

Make sure you get the visa  that does not REQUIRE  insurance- thats what the OP should be thinking about

[JiminLA]

Thanks for all the information needed to complete an VISA O-A.  I have applied for a health insurance policy with Pacific Cross, but I can't see my doctor until June 10th.  That's a long wait, and then to send all the info back to them, and them submit the forms and letters back to the embassy, and me.  I can't apply for a VISA O because I am not on a pension, and the Thai Embassy in LA, only says a person at my age can apply for an O VISA with a standing pension.  Strange, that I have the money in the bank for an O-A, but that's not sufficient for an O VISA.  Thanks again to everyone for the help, and yes, it's get over there somehow, and then open the bank account there.

Jim

[Onerak]

3 hours ago, skatewash said:

I agree that the non-OA visa was ruined with the addition of the health insurance requirement, but don't think it's going away in September.  Quite the opposite, it's being raised from $400k (USD) in patient, $40k outpatient coverage to $3 million coverage after September.  The only thing that may be an improvement is that apparently it will be slightly easier to use foreign, non-Thai immigration department approved insurance companies.

In my opinion the Non-O visa is the better way to go as there is no insurance requirement, but you do have to be willing to keep the 800k baht in a Thai bank. 

I did not say it is going to go away. I said, they have streamlined the insurance requirement. Now I really don't know if I would get Non-OA or not. I live in Thailand for six months only. I can get an agent assisted extension for 15K that I used for two years and now I am used to it. No headache. No TM30, No 90-day reporting. No updating bank book, no ensure the money is coded right or not no stepping into immigration office at all. All the headache gone for 15K only. Will see what I do in the future. Get O-A or continue to get agent assisted extension. 

[Onerak]

1 hour ago, JiminLA said:

Thai Embassy in LA, only says a person at my age can apply for an O VISA with a standing pension.  Strange, that I have the money in the bank for an O-A, but that's not sufficient for an O VISA. 

I was going to apply for Non-O but decided not to do so for the same reason. If they reject, i lose $80. I also don't have social security paper to show. I can show the money in the bank but not social security paper. Wanted ot take a chance and apply and see how it turns out but decided against it at the last moment. 

[SAFETY FIRST]

5 hours ago, JiminLA said:

still live here in the US, and one of the requirements as you know is to establish a 800,000 baht bank account in Thailand.

Retirement visa 

 

- Arrive on a 30 day tourist visa, you'll get an extention 

 

- Set up a bank account here in Thailand (use an agent if necessary) 

 

- Transfer funds from your bank 

 

There are many money transfer providers, I've used Wise and Remitly 

 

Good luck 

[CharlieH]

MOVED to correct forum.

[Lemsta69]

4 hours ago, JiminLA said:

Thanks for all the information needed to complete an VISA O-A.  I have applied for a health insurance policy with Pacific Cross, but I can't see my doctor until June 10th.  That's a long wait, and then to send all the info back to them, and them submit the forms and letters back to the embassy, and me.  I can't apply for a VISA O because I am not on a pension, and the Thai Embassy in LA, only says a person at my age can apply for an O VISA with a standing pension.  Strange, that I have the money in the bank for an O-A, but that's not sufficient for an O VISA.  Thanks again to everyone for the help, and yes, it's get over there somehow, and then open the bank account there.

Jim

bro, just enter visa exempt and go the agent route for a non-immigrant O visa plus extension. I did this myself in Patts in December, easy peasy.

[bkk6060]

Like Lemsta said, come on exempt.  Get an agent to assist if you cannot figure it out.  A good agent will also help you get a bank account and establish an address.

[JiminLA]

Thanks again for the update on how to enter VISA exempt and just hire an agent.  I have either that choice, or wait it out in a hotel here for one month, since my Dr's appt for my physical for PCross, is not until June 10th.

[sometimewoodworker]

3 hours ago, Onerak said:

I can get an agent assisted extension for 15K that I used for two years and now I am used to it. No headache. No TM30, No 90-day reporting.

I assume that by saying “No 90-day reporting” you mean that the agent does that for you.

 

90-day reporting is required for every non Thai staying for more than 90 days

[Airalee]

7 hours ago, skatewash said:

I agree that the non-OA visa was ruined with the addition of the health insurance requirement, but don't think it's going away in September.  Quite the opposite, it's being raised from $400k (USD) in patient, $40k outpatient coverage to $3 million coverage after September.  The only thing that may be an improvement is that apparently it will be slightly easier to use foreign, non-Thai immigration department approved insurance companies.

In my opinion the Non-O visa is the better way to go as there is no insurance requirement, but you do have to be willing to keep the 800k baht in a Thai bank. 

It was never $400k USD inpatient coverage or $40k outpatient.  Those numbers are correct but the currency was in Baht.  
 

The raise coming in September certainly wouldn’t be $3 million (over ฿100,000,000) but is ฿3,000,000

Edited May 15, 2022 by Airalee

[flexomike]

8 minutes ago, Airalee said:

It was never $400k USD inpatient coverage or $40k outpatient.  Those numbers are correct but the currency was in Baht.  
 

I have not heard of any raise coming in September either and if so,  it certainly wouldn’t be $3 million (over ฿100,000,000). 
 

If you have a link verifying that they are in fact raising the required coverage amounts, I would love to see it.

The increase in September is Baht not dollars, 

 

[DrJack54]

9 hours ago, skatewash said:

If you are applying for a non-OA (note that the A is significant) then you won't need a Thai bank account for nearly two years.  You meet any financial requirements for this visa by showing US bank balances.

If you are applying for a non-O (note the absence of the A) visa then you meet any financial requirements for this by showing US bank balances.

If you are applying for a 90-day non-O visa in Thailand (after arriving on a 30-day visa-exempt entry or 60-day tourist visa) then you must open a Thai bank account and show at least 800k baht balance on day you apply for the non-O.

After you have your non-O when you wish to apply for a one-year extension of stay you must show that you have had 800k baht in the account for two months before the date of application.

Thai bank accounts can be opened in Thailand in person only.

There's nothing you really need to do in the US before coming to Thailand except for a couple things.  Open any bank accounts you may want to have in the future (particularly accounts with for example, Charles Schwab Checking that will allow you to get reimbursed for the 220 baht foreign ATM card withdrawal fee, and say Capital One Credit cards that don't have a foreign transaction fee).  These kind of arrangements are much easier to do while in the US than from Thailand (although they can be done from Thailand if you maintain a US address). 

The other thing to take care of is that you wish to query your bank about whether you can do an online wire-transfer (SWIFT) from your US bank to a Thai bank.  Some banks require that you set up such a facility in person at your US bank (not sure it's even possible before you get your Thai bank account, so may not be possible before then).

While at it open an account online at Wise (formerly TransferWise) which will allow you in future to transfer money into Thailand from US at good exchange rates and reasonable cost.

 

@JiminLA have a good read of this post from @skatewash

IMO sums up your options very well.

The only small thing I could add that if you decide to obtain a non O retirement inside of Thailand rather than the non O-A obtained in USA, then opening a Thai bank account is best done by use an agent if entering visa exempt or TV.

You mention continue to live in USA, so what are is your plan?

Obtain a new non O-A every 2 years in the states.

 

How many months of each year do you plan to live in Thailand.

 

As you can read in thread many suggest you obtain a non O retirement. 

That can be done in Thailand or home country..

[skatewash]

2 hours ago, Airalee said:

It was never $400k USD inpatient coverage or $40k outpatient.  Those numbers are correct but the currency was in Baht.  
 

The raise coming in September certainly wouldn’t be $3 million (over ฿100,000,000) but is ฿3,000,000

Yes, should be baht, not dollars 

[skatewash]

2 hours ago, Airalee said:

It was never $400k USD inpatient coverage or $40k outpatient.  Those numbers are correct but the currency was in Baht.  
 

The raise coming in September certainly wouldn’t be $3 million (over ฿100,000,000) but is ฿3,000,000

Yes, should read bath, not dollars.

[mtls2005]

Just make sure you familiarize yourself with the 800,000 money in the bank rules, specifically how it impacts your strategy re: subsequent extensions. Most park it 100% forever. Yes, you can dip into it, within the rules.

 

And make sure you will be able to initiate a transfer (SWIFT or WISE) once you are in thailand. (You can't set up a Standing Order as you don't yet have a thai bank account).

 

The mention of BoA sets of an alarm. You will need to pass two-factor authentication (2FA), so that requires either a U.S. mobile, associated with your account, capable of receiving an SMS while roaming here in thailand or a FIDO key (which will work anywhere). 

 

I don't think you'll be able to initiate a SWIFT (or even ACH via BBL/NYC) transfer from BofA, remotely from thailand.

 

WISE works fine with BofA (via a third-party called PLAID) but even with this method you'll need to pass 2FA with BofA.

 

I would set all this up ASAP should you choose to go the route Safety First describes above.  (Based on what little detail you've provided I'd endorse that method as well.)

 

See if your current mobile phone SIM can roam internationally, if not get a SIM that can. 

 

Buy and set up the FIDO key today.

 

 

[wwest5829]

Came retired into Thailand in 2011 on an OA Visa after demonstrating I met the requirement to the Royal Thai Consulate in Chicago. Have lived here since. My recommendation supports those who have already made the recommendation. Come into Thailand Visa Exempt as an American citizen and then apply for the "O Visa" once here thus avoiding the medical insurance issue after your initial 30 days for the annual stay. also, please take note that the requirements for demonstrating being able to support yourself can be met with money in the Thai bank OR demonstrating the monthly income. I use the latter method, preferring not to park investment dollars in Thailand.

[mtls2005]

34 minutes ago, wwest5829 said:

also, please take note that the requirements for demonstrating being able to support yourself can be met with money in the Thai bank OR demonstrating the monthly income. I use the latter method, preferring not to park investment dollars in Thailand.

 

Are you sure, about the income method being allowed for the Visa Exempt -->30 day ext-->Non-O 90 day-->1 year ext?

 

Based on many, many other threads and posts, it seems like the 800,000 method is the only one currently allowed?

 

Google: thailand convert visa exempt to Non-o retirement income site:aseannow.com

 

Quoting UbonJoe here 

 

"The transfers of 65k baht to prove your income is not listed on the requirements to apply for the non-o visa. It only shows proof on income from a embassy or 800k baht in a Thai bank."

 

 

Yes, you may be able to transition to the income method on your second annual extension renewal with twelve (12) qualifying foreign transfers.

[sometimewoodworker]

44 minutes ago, mtls2005 said:

 

Are you sure, about the income method being allowed for the Visa Exempt -->30 day ext-->Non-O 90 day-->1 year ext?

 

Based on many, many other threads and posts, it seems like the 800,000 method is the only one currently allowed?

 

Google: thailand convert visa exempt to Non-o retirement income site:aseannow.com

 

Quoting UbonJoe here 

 

"The transfers of 65k baht to prove your income is not listed on the requirements to apply for the non-o visa. It only shows proof on income from a embassy or 800k baht in a Thai bank."

 

 

Yes, you may be able to transition to the income method on your second annual extension renewal with twelve (12) qualifying foreign transfers.

For the Visa Exempt -->30 day ext-->Non-O 90 day your understanding is completely correct there is no income option. The requirement is for a foreign deposit of 800k (some offices may ignore the requirement that it is a foreign deposit)

for the 1 year extension some offices accept 2 ~ 3 income deposits for the first extension instead of an 800k bank deposit. 

[DrJack54]

4 minutes ago, sometimewoodworker said:

for the 1 year extension some offices accept 2 ~ 3 income deposits for the first extension instead of an 800k bank deposit

I haven't seen one example.

Doesn't mean has never happened.

Without the income letter from embassy as stated I haven't read one report of few months deposit for first extension retirement being accepted. 

[ubonjoe]

17 minutes ago, sometimewoodworker said:

For the Visa Exempt -->30 day ext-->Non-O 90 day your understanding is completely correct there is no income option. The requirement is for a foreign deposit of 800k (some offices may ignore the requirement that it is a foreign deposit)

You left out number 6 and 7. But it is only for those who can get the proof of income from their embassy or consulate.

 

[sometimewoodworker]

11 minutes ago, ubonjoe said:

You left out number 6 and 7. But it is only for those who can get the proof of income from their embassy or consulate.

 

Yes I did as the OP is from the USA so can’t qualify under 6 and doesn’t qualify under 7.

[DrJack54]

1 minute ago, sometimewoodworker said:

Yes I did as the OP is from the USA so can’t qualify under 6 and doesn’t qualify under 7.

Also won't be able to use income method for first extension. 

[sometimewoodworker]

25 minutes ago, DrJack54 said:

I haven't seen one example.

Doesn't mean has never happened.

Without the income letter from embassy as stated I haven't read one report of few months deposit for first extension retirement being accepted. 

I’ve seen a couple in the past though no exact recollection as to how long ago andno information as to other proof