In the future I am going to have to bring 800k THB across from Australia to satisfy the OA requirement. The Australian exchange rate is and probably for sometime will be horrible and I have looked at all sorts of ways of avoiding exchanging such a large sum of money at a dreadful rate.

Thanks to one of great members here I have discovered that I can bring and hold Australian dollars into a Thai bank for 3 months and providing on the day I can get a letter verifying the value of my Australian dollars exceeds 800k THB it will satisfy the requirement. I have checked with immigration and say they would be satisfied with this and have other people who have done the same thing. I checked with my bank (Bangkok Bank) and they say I cant keep foreign funds in my normal bank account but can open a foreign currency account at their main Silom branch in Bangkok (I am in Chaiyaphum). My local branch did say they would help me get a letter verifying funds and exchange rate from Silom branch if I request it 3 days before, as they can't access transaction / balance from their system. just not sure they understood I would need it on the actual day before visiting immigration. (Not a letter from 2 or 3 days ago)

Does anyone have any experience with this or know of a bank here I can hold foreign currency where I can get a statement and balance from any provincial branch? Any help appreciated

According to the Bangkok Bank website you can open the account at several branches in the country. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/Default.aspx

I don' t see Chaiyaphum on this list but there are sevral in Khon Kaen. http://www.bangkokbank.com/BangkokBankThai/Documents/Site%20Documents/GPSD/FCDServiceBranch_En.pdf

If I were in your shoes I would have serious reservations about your proposed course of action. It seems to me that you are always going to run the risk of encountering a nitpicking IO when you submit your extension of stay application, who might insist on evidence being provided (presumably in the form of daily exchange rates) that the amount you deposited in your AUD FCD account at least 2 months previously (assuming, of course, that we are here talking about your very first retirement extension) equalled at least 800,000 THB, not only on the date of the BBL letter but also continuously throughout the seasoning period – regardless of what the official rules (and advice on here) might say.

Accordingly, were your AUD FCD account deposit inadvertently, thanks to wildly fluctuating exchange rates, to fall to the equivalent of even a single satang below the required 800,000 THB minimum for even a very short time over this period, you could be faced with a major problem.

In these circumstances I really do wonder whether, for the sake of your peace of mind, it would be better to have the seasoning amount converted from AUD to THB upfront for the whole period. That said, I fully appreciate your reluctance to transfer as much as 800,000 THB into your existing Thai account at current AUD:THB exchange rate levels. However, might you, by chance, be in receipt of a pension with which you could satisfy part of the financial requirement at least under the “combo” method (in conjunction, of course, with a suitable income confirmation letter from the Australian Embassy)? If so, it then follows that you would only need to transfer a smaller amount into your existing Thai account in order to meet the total financial requirement.

Another word of warning - based on my experience of holding a GBP FCD account with BBL for a short time several years ago - is that BBL will likely hit you with significant charges for transfers from abroad into an FCD account. These charges are not publicised on their website (or, at least, were not at the time I held an FCD account), and appear to be well in excess of those levied for comparable SWIFT transfers.

Edited November 4, 201510 yr by OJAS

If I were in your shoes I would have serious reservations about your proposed course of action. It seems to me that you are always going to run the risk of encountering a nitpicking IO when you submit your extension of stay application, who might insist on evidence being provided (presumably in the form of daily exchange rates) that the amount you deposited in your AUD FCD account at least 2 months previously (assuming, of course, that we are here talking about your very first retirement extension) equalled at least 800,000 THB, not only on the date of the BBL letter but also continuously throughout the seasoning period – regardless of what the official rules (and advice on here) might say.

Accordingly, were your AUD FCD account deposit inadvertently, thanks to wildly fluctuating exchange rates, to fall to the equivalent of even a single satang below the required 800,000 THB minimum for even a very short time over this period, you could be faced with a major problem.

In these circumstances I really do wonder whether, for the sake of your peace of mind, it would be better to have the seasoning amount converted from AUD to THB upfront for the whole period. That said, I fully appreciate your reluctance to transfer as much as 800,000 THB into your existing Thai account at current AUD:THB exchange rate levels. However, might you, by chance, be in receipt of a pension with which you could satisfy part of the financial requirement at least under the “combo” method (in conjunction, of course, with a suitable income confirmation letter from the Australian Embassy)? If so, it then follows that you would only need to transfer a smaller amount into your existing Thai account in order to meet the total financial requirement.

Another word of warning - based on my experience of holding a GBP FCD account with BBL for a short time several years ago - is that BBL will likely hit you with significant charges for transfers from abroad into an FCD account. These charges are not publicised on their website (or, at least, were not at the time I held an FCD account), and appear to be well in excess of those levied for comparable SWIFT transfers.

Really appreciate your detailed reply mate :-) No, I have checked every possible avenue. Im not on a pension and the only possible income I could show is interest from savings invested in Australia which I draw on every month and that is questionable at best if allowed. Even that isn't a significant % of the 800k THB any way. As far as fees, anything up to hundreds of dollars I would still consider a bargain compared to what I would lose on the X rate ATM. I will be bringing across well in excess of the 800k THB too, probably around 1mill should be safety margin enough. I hear what your saying about a nit picking administrator. Aren't there plenty of them here! I'll have confirmed it's ok with my local immigration (for what it worth :-( ) and they say ok. If the worst happens I may just have to do visa runs until sorted.

It is my first OA renewal. What is the window for renewal. For example say my visa expires 20th September. Do I have a window to apply say 7 days before and 7 days after similar to reporting? If a week or 2 before I might go on the first avail day give me some time to sort should they require further clarification from the bank.

You can apply for the extension based upon retirement up to 30 days early. There is no after allowance.

It seems you already got the approval form KK immigration so I don't think you will have a problem.

Just try to open the account at one of the Bangkok Bank branches in KK.

Really appreciate Ur help Joe! (Again). Yes will go and see Bkk bank in KK. I did get the ok from immigration but that counts for little when dealing with government "service" departments here. On the same trip to the bank I'll try and get some concrete confirmation and a name if possible

I think you are taking a big risk because over the years the Australian dollar fluctuates a lot. Whatever anybody says |the Thai Baht it's probably a better currency than the Australian dollar. I bought the Australian dollar for 32 baht when I moved to Australia in 1995,, but when I moved back to Thailand four years later I got only about 21 baht to the dollar. I lost half a million dollars

I think you are taking a big risk because over the years the Australian dollar fluctuates a lot. Whatever anybody says |the Thai Baht it's probably a better currency than the Australian dollar. I bought the Australian dollar for 32 baht when I moved to Australia in 1995,, but when I moved back to Thailand four years later I got only about 21 baht to the dollar. I lost half a million dollars

I don't agree and I dont see the risk? Im not exchanging anything only moving AUS dollars to a different country. If the AUS dollar falls further I'll simply keep my currency in AUS $ and continue to bring small amounts over monthly to live. The dollar doesn't fluctuate that wildly anyway, not over two months anyway.

If and when the baht becomes favourable again thats when Ill move a sizeable sum over here. My benchmark is between 30-32 THB for one AUS$. On a sum like 1 million baht, at current rates Id be losing around $8000. Yes I know some sat=y don't worry about the rate, swings and roundabouts etc but I am prepared to wait it out. It will come up again one day

I think you are taking a big risk because over the years the Australian dollar fluctuates a lot. Whatever anybody says |the Thai Baht it's probably a better currency than the Australian dollar. I bought the Australian dollar for 32 baht when I moved to Australia in 1995,, but when I moved back to Thailand four years later I got only about 21 baht to the dollar. I lost half a million dollars

I don't agree and I dont see the risk? Im not exchanging anything only moving AUS dollars to a different country. If the AUS dollar falls further I'll simply keep my currency in AUS $ and continue to bring small amounts over monthly to live. The dollar doesn't fluctuate that wildly anyway, not over two months anyway.

If and when the baht becomes favourable again thats when Ill move a sizeable sum over here. My benchmark is between 30-32 THB for one AUS$. On a sum like 1 million baht, at current rates Id be losing around $8000. Yes I know some sat=y don't worry about the rate, swings and roundabouts etc but I am prepared to wait it out. It will come up again one day

you are ok if you don't change the A$

I think you are taking a big risk because over the years the Australian dollar fluctuates a lot. Whatever anybody says |the Thai Baht it's probably a better currency than the Australian dollar. I bought the Australian dollar for 32 baht when I moved to Australia in 1995,, but when I moved back to Thailand four years later I got only about 21 baht to the dollar. I lost half a million dollars

I don't agree and I dont see the risk? Im not exchanging anything only moving AUS dollars to a different country. If the AUS dollar falls further I'll simply keep my currency in AUS $ and continue to bring small amounts over monthly to live. The dollar doesn't fluctuate that wildly anyway, not over two months anyway.

If and when the baht becomes favourable again thats when Ill move a sizeable sum over here. My benchmark is between 30-32 THB for one AUS$. On a sum like 1 million baht, at current rates Id be losing around $8000. Yes I know some sat=y don't worry about the rate, swings and roundabouts etc but I am prepared to wait it out. It will come up again one day

you are ok if you don't change the A$

Yes. My plan is to leave the AUS$ in the bank and possibly later return the amount to Australia. However, I understand I can draw some funds in Baht anytime I like with zero fee other than the ex rate which is aways very good at Bkk Bank.

OMG. Trying to confirm everything this morning with KK Bangkok bank. Asked the missus to ring....first mistake. I don't know why a simple question takes so long to answer here? Do you have FCD accounts or not? 15 minutes back and forth....ka, na etc. Ok they have FCD accounts. Can we get a statement on the morning I go to immigration showing funds in the bank last 2 months. Back and forward....not sure...giggles from the wife (found a new friend, probably hooked up on facebook now)

After another 15 minutes.....she's not sure but she will get their expert to call back who also speaks English. Surprisingly the expert called back as promised and spoke again with the Mrs. Another 15 minutes....as she hands me the phone she tells me yes they can give us a statement on the morning. So she hands me the phone and Im talking to the original girl / idiot who doesn't know anything. Turns out the expert doesn't speak English but she does....ok....So what are the fees for bringing say, $50k AUD across? Not sure go check. I'm trying to ask her the simple question above and she keeps telling me if I want to bring $1500 across fee will be 2%. I told her 5 times I wanted to bring $50k across why does she keep quoting $1500? Silence....after 10 minutes I understand she is telling me $1500 is the minimum deposit. No problem I tell her, remember I wanted to bring $50k across? Don't worry about the minimum. She may be related to my wife because the whole time she is talking while I am trying to explain or before I have finished trying to tell her what I want to do, assuming wrongly she knows what I want. So she goes away and checks, probably another 4 times and finally tells me will be "about" 2% to bring $50k across. I told her I didn't think that was right. She checks again, yep 2% flat fee and another 2% to return the money back to Australia. So I gets off the phone, the missus looks at me and says "did she tell you they could do the statement?". I says....you told me the "expert" said they could? Blank open mouth stare. Can they do the statement or not? "Thats why I ask you talk with lady she speak English". But you told me she didn't know and the expert knew and you spoke with him and he said ok? Blank stare. An argument ensued.....

I called Bkk bank head office. Transfer fee 0.25% or not more than 500 baht.

Jesus, I know why blokes end up alcos here. It's just so hard trying to do the simplest of things or get a straight answer to anything. We can stop at a shop and ask a yes or no question like "are you open". 15 minute discussion, finger pointing...giggling. Noisy conversation. Im gonna get a beer :-(

The fees are her on the website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/FCDFees.aspx

The fees are her on the website. http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/FCDFees.aspx

Thanks Joe. Thats exactly what HO told me ie: 0.25% up to 500 baht maximum. Lady at Bank KK adamant it was 2% flat fee. I hope the fees don't vary from branch to branch. Over here I wouldn't be surprised :-(