Jump to content

Is Citibank Thailand accepted bank for 800k thb deposit retirement visa


Recommended Posts

whistling.gif I've asked.

A Citibank Thailand deposit account will be in Thai Baht.

Of course you can open such an account with USD, but it will be denominated in Thai Baht, and converted at the normal exchange rate.

There are some conditions however. The minimum initial deposit must be 100K Baht to open an account.

They ask you to have a rental agreement or lease for a residence in Thailand, often they insist that you have a minimum 3 month rental agreement/contract.

In order for you to open a checking account they may insist you have a Non O visa to open an account.

What they really want is for you to have an existing Citibank account in the U.S. with a Citibank branch there, a mention of 5000 U.S. dollars in that account was mentioned.

That gets you a Citibank Thailand account, with valid ATM card usable on-line.

The "catch 22" is that in order to open a retirement account to get a retirement visa/extension you FIRST must have the money to open a Thailand account (minimum 100K Thai Baht) and a "long term Visa" and a "rental agreement" of at least 3 months before they will let you open a Thailand Citibank account so you can apply for the Citibank Thailand account you need for retirement.

So in order to apply for a "long term visa", which requires you to open a bank account, you first have to have the money to open a bank account to qualify to be accepted to open a bank account.

Or you can already have a U.S Citibank account in order to open a Thai Citibank account.

But in answer to your 2nd question, the first application for your retirement visa/extension the funds must have bees "seasoned" in a Thai bank for a minimum of 60 days, for each annual extension the funds must have been "seasoned" in that bank account for 90 days at renewal time.

rolleyes.gif

Note: All these funds must come from outside of Thailand , you can not use funds you earned in Thailand.

And they check.

Edited by IMA_FARANG
  • Like 1
Link to comment
Share on other sites

Sorry, I should have been more specific, as it is a bit more complicated. I will be changing from Non-Imm B with WP to non-Imm O for the first time. On the non-Imm B, I have done several extensions based on employment which never required any seasoning. Therefore, technically this is the first seasoning for the new extension type based on retirement.

In such a case would the seasoning be 2 or 3 months?

The seasoning rule actually is:

TWO MONTHS -- first extension

THREE MONTHS -- all subsequent extensions

Link to comment
Share on other sites

"A Citibank Thailand deposit account will be in Thai Baht.

Of course you can open such an account with USD, but it will be denominated in Thai Baht, and converted at the normal exchange rate."

Citibank Thailand offers Foreign Currency Accounts. Some Immigration offices will accept such accounts. You should check with your local Immigration office on this.

Also note: The rule is expressed in months. Two months is not the same as 60 days. Three months is not the same as 90 days.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.









×
×
  • Create New...