Cancel Non-Imm O retirement extension and close bank account

[theghizmo]

Hello All,

 

I wish to move back to my home country for a while. I don't plan to return anytime soon (never say never though...). So, I have decided to close my bank account or at least only keep the minimum balance and withdraw the rest of 800K.

 

My current Non-Imm O retirement extension is valid until May 2024, and I wish to fly out in December 2023. I am just curious about what should be the correct approach to conclude this visa. I can think of the following options and would like to know your opinions.

 

1. Withdraw most of the 800K from the bank account (leave the minimum balance like THB 1000) and leave the kingdom, letting the visa expire in May 2024.
2. Cancel the visa by visiting Chang Watthana, get an extension (of 7 days), and formally close the bank account and then fly out.

I am not very keen on doing it the second way as it requires time and money. Also, I would lose the visa in case I have to visit back before May 2024.

 

However, there is a law to keep 400K as a minimum balance in the bank account, so I'm not sure if I can do it the first way too (i.e., withdraw all funds before leaving).

 

Your opinions are welcome.

[Crossy]

I would just do Option 1.

 

Notes: -

If you leave without a re-entry permit your extension is cancelled automatically (so you couldn't use it to return). You can get a single re-entry permit at the airport IIRC 1,000 Baht + a service fee.

 

Since you don't want to extend again in future nobody is going to check your bank balance, just withdraw the $$$.

 

 

[Moonlover]

Just leave. If you don't buy a re-entry permit your extension is automatically invalidated. 

 

What you do with your money is entirely up to you.

[theghizmo]

Thanks for the input! @Crossy @Moonlover  I already got the multi re-entry stamp while renewing last time.

 

My only concern is that if I withdraw all funds, it may lead to issues with the airport immigration system upon departure, as I did not maintain the minimum 400K as required.

 

However, as you mentioned, it is only checked upon renewal and not at the airport immigration system, so it should be okay.

 

 

[Crossy]

How do you intend taking the $$$ home?

 

There are limits on how much cash you can carry, I'm not sure of the exact numbers I'm afraid.

 

It might be wise the transfer from your bank or use one of the money transfer apps rather than carry cash.

 

[theghizmo]

15 minutes ago, Crossy said:

How do you intend taking the $$$ home?

 

There are limits on how much cash you can carry, I'm not sure of the exact numbers I'm afraid.

 

It might be wise the transfer from your bank or use one of the money transfer apps rather than carry cash.

 

Yes, I plan to transfer it using the apps.

 

In no way I ever intend to stand in those crazy slow moving superrich queue unless I have HAVE to . I often wonder why they are always crowded!

[Captain Monday]

For larger sums I just send a wire from Bangkok Bank to my account in USA

 

#I had an experience leaving a BBL bank account with a minimum balance.

Without any activity they took out some maintenance fees after a while it was frozen and closed

as if it never existed. 

 

 

[AjarnMartin]

20 hours ago, Crossy said:

How do you intend taking the $$$ home?

 

There are limits on how much cash you can carry, I'm not sure of the exact numbers I'm afraid.

 

It might be wise the transfer from your bank or use one of the money transfer apps rather than carry cash.

 

Crossy… “It might be Wise…” - very droll and a golden nugget for the company… 555

[rwill]

21 hours ago, theghizmo said:

Withdraw most of the 800K from the bank account (leave the minimum balance like THB 1000) and leave the kingdom, letting the visa expire in May 2024.

You should leave at least 2,000 baht in the account.  Otherwise after 1 year of no activity in the account they will start taking out 50 baht a month until the account is empty.

[Srikcir]

21 hours ago, theghizmo said:

in case I have to visit back before May 2024

Use a free tourist visa. You don't need a resident type visa.

[Andre0720]

I use the minimum 65,000 bahts transfer per month. Which is easily spent every month. Bank account kept at just about 5,000 after I withdraw for my daily expenses.

I used the 800,000 bahts option only for the first year, as it was the only option then. Then I started transferring the 65,000 each month, and got the ensuing retirement extensions every year on that basis.

[daveAustin]

I’d endeavour to keep the account open (as you say never say never) as they are so hard to open nowadays. You could probably ditch your atm card, which would save the ridiculous annual fee being nicked, but other than that leave a bit in there and perhaps transfer using the app every now and again to keep it alive. 
 

Taking out your money is not an issue as you are leaving, right. They would only pick that up at renewal when you would show paperwork. I would thus transfer out online, then leave. 

[topt]

1 hour ago, AjarnMartin said:

Crossy… “It might be Wise…” - very droll and a golden nugget for the company… 555

I am sure you are aware but for others you cannot use them to transfer out of Thailand.

[jimn]

I dont know what the fuss is all about. Just transfer the funds out using Dee Money or a bank transfer you cannot use Wise. Alternativly withdraw the funds over a period and take the cash with you, no one will check, just look after it. 

On departure just leave the country, your extension of stay will automatically cancel if you dont return by its expiry in May 24. No one at immigration will check or be remotely interested in your not keeping required funds in account.

[CecilM]

23 hours ago, theghizmo said:

Hello All,

 

I wish to move back to my home country for a while. I don't plan to return anytime soon (never say never though...). So, I have decided to close my bank account or at least only keep the minimum balance and withdraw the rest of 800K.

 

My current Non-Imm O retirement extension is valid until May 2024, and I wish to fly out in December 2023. I am just curious about what should be the correct approach to conclude this visa. I can think of the following options and would like to know your opinions.

 

1. Withdraw most of the 800K from the bank account (leave the minimum balance like THB 1000) and leave the kingdom, letting the visa expire in May 2024.
2. Cancel the visa by visiting Chang Watthana, get an extension (of 7 days), and formally close the bank account and then fly out.

I am not very keen on doing it the second way as it requires time and money. Also, I would lose the visa in case I have to visit back before May 2024.

 

However, there is a law to keep 400K as a minimum balance in the bank account, so I'm not sure if I can do it the first way too (i.e., withdraw all funds before leaving).

 

Your opinions are welcome.

Go with your second option:

Cancel visa, get extension, then leave. 
Withdraw money, keep a few k Baht, make sure mobile banking works, and do a transaction every now and then to keep the account active. 

[LikeItHot]

You visa extension dies on its end date.  You bank accounts will die if you leave them empty for a year. 

[LikeItHot]

On 11/30/2023 at 9:55 AM, Crossy said:

How do you intend taking the $$$ home?

 

There are limits on how much cash you can carry, I'm not sure of the exact numbers I'm afraid.

 

It might be wise the transfer from your bank or use one of the money transfer apps rather than carry cash.

 

There are no limits on how much cash you can carry into a country.  There are only declaration limit requirements.

[LukKrueng]

On 11/30/2023 at 9:37 AM, theghizmo said:

(leave the minimum balance like THB 1000) and leave the kingdom, letting the visa expire in May 2024.

There is no minimum amount mandatory to keep an account alive, but after a period of time without any activity the bank starts to charge something like 20 Baht per month and after having 0 Baht in the account for few months the account will be closed automatically. You could keep it alive by showing activity - any activity (no minimum amount) works, so paying a bill or transferring 20 Baht in or out of the account every few months will keep the account alive

[AjarnMartin]

On 12/1/2023 at 8:07 AM, topt said:

I am sure you are aware but for others you cannot use them to transfer out of Thailand.

Actually, topt, I've never had the need to transfer out of Thailand, but thanks for the reminder.