Thai Bank account for extension of stay for retirement.

[Ubonquest]

I would like to open a bank account in Thailand but would like to know what type of accounts, and how many accounts do I need in order to meet the immigration requirements. I will opt for an income plus money in the bank. Secondly does the money in the bank needs to be seasoned? Thank you

[ubonjoe]

One account is enough.

A standard savings account is what most people use, A current account (checking) will not be accepted.. A fixed term account (aka CD) will be accepted if it allows immediate withdrawal of funds with no penalty other than loss of interest.

According to the written rule seasoning for the combination method is not required but there are a few immigration office that will require it.

[Lite Beer]

As said, a standard savings account.

Money in the bank does not have to be seasoned

but one or two Immigration offices do not seem to know this.

[curtklay]

It's more than one or two offices requiring funds seasoning using the combination method.

Play it safe and leave it in there for 3 months prior to applying for an extension.

[Jingthing]

Even if using the 800K in the bank method, the seasoning requirement for the FIRST extension is two months, not three.

Yes the rule is no seasoning needed if using the combination method (bank plus income).

[curtklay]

True. But you fail to mention that the "rules" mean absolutely nothing.

You know that as well as I do.

Best advice is check with your local office, and then be prepared for anything.

Edited September 28, 2015 by curtklay

[Ubonquest]

Thank you everyone for the clarification.