800,000 Baht For Retirement Visa

[AbeSurd]

Would having the 800,000 baht in, for example, a baht account at HSBC Thailand be okay?

Or does it have to be in a 'proper' Thai bank like Bangkok Bank or Kasikorn?

(I'm a Brit and I'm over 50.)

Thanks for your help.

[Colabamumbai]

Any Thai bank should be fine. The money can also be put in a higher interest account where you lock it in for 2 or 3 years, as long as you will not need these funds, you can earn 2 and 3%, Currently most saving accounts pay about a little more than 1% interest. Television ads now show TMB bank has a one year deposit paying 1.75%., but they give a lousy exchange rate if you are thinking of having the money transferred from abroad to a bank here, deal with a bank that offers a consistently better exchange rate.

[lopburi3]

It has to be a bank branch located in Thailand. Thailand branch of HSBC is fine.

[Daailo]

Reference HSBC, their Premier account assists in setting up an account in another country if you are moving. The account can include savings, current account, foreign currency account, investment units and insurance products all together in a 'Total Relationship' balance. When considering the THB 800,000 for the retirement visa will they only consider the THB amount in the savings/current account or can they use the 'Total Relationship' balance?

[lopburi3]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

[Daailo]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

Unit trusts can be converted to cash at any time. They would also appear in the monthly statement in THB in the 'Total Relationship ' balance would that be ok?

[SanukMahk]

Why bother.. jujstg getg a notorial from you Embassy and off you go!

[lopburi3]

Anything outside the normal passbook or statement savings or time deposit account could be refused.

[Daailo]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

Many thanks for the reply. Will see how it works out later on.

[typhoon]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

Many thanks for the reply. Will see how it works out later on.

800.000 baht,alot of money,is that just to show for 1 year???,and then report every 3 months!! the whole visa system sucks,whinge over...

[Lite Beer]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

Many thanks for the reply. Will see how it works out later on.

800.000 baht,alot of money,is that just to show for 1 year???,and then report every 3 months!! the whole visa system sucks,whinge over...

There is no need to spend it all. Spend what you need and top up next year.

[ballbreaker]

Money must always be in a cash deposit account that can be withdrawn at any time - normally this is passbook savings and time savings (where only interest would be lost in early withdrawal) in Thai banks.

Unit trusts can be converted to cash at any time. They would also appear in the monthly statement in THB in the 'Total Relationship ' balance would that be ok?

A friends Thai Government Bonds, which he purchased through Thai Bank, were rejected if that gives you a clue.