"O" visa for retirement-- Thai bank acct not "Current " or "Savings"

[Dakster]

I've been in Thailand on a One year Non-Immigrant "O" visa for past 10 months. I'm a U.S. citizen. Expecting to convert to a retirement visa, 3 months ago I placed 900,000 BHT in a Thai Fixed account. Today I've realized I've apparently made

a mistake by not specifically placing the funds in a "Savings" or "Current" account. Now, I only have one month left(till June 7th) before my extension expires. I'm going to Phuket Immigration tomorrow to verify that the fixed account is not

acceptable & to see if moving it to a savings or current account would be workable(I suspect not). Any info as to options other than having to return to U.S. and starting process over. My monthly income isn't sufficient by itself.

This is my own mistake, -not blaming anyone else. I went to Phuket Immigration today and got the list of requirements and noticed it had: "800,000 must be in a savings or current account for 3 months(or for the last 60 days for the first year of application).

Thanks for any info!

Dakster

[elviajero]

• I believe that a fixed deposit account can be used as long as the funds are accessible without notice. It will be up to the IO processing your extension.

If you need more time, and if you have a multiple entry non 'O' that is still valid, you could do a border hop to get a new 90 day stay and apply for the extension in the last 30 days of that stay.

Edited April 21, 2016 by elviajero

[johnatong]

• I believe that a fixed deposit account can be used as long as the funds are accessible without notice. It will be up to the IO processing your extension.
• If you need more time, and if you have a multiple entry non 'O' that is still valid, you could do a border hop to get a new 90 day stay and apply for the extension in the last 30 days of that stay.

Or if the visa has expired a single entry "O" visa could be obtained from Vientiane or Penang on the basis of being 50+

There is certainly no need to return to the US

[Dakster]

I'm on the last 90 days of the 1 yr period and that had 3 extensions, .--Don't know if it would allow an addition extension. I'm not familiar with the single entry "o" I'll chk with Immigration tomorrow on these.

Thanks to both Elviajero and Johnatong, much appreciated.

[elviajero]

I'm on the last 90 days of the 1 yr period and that had 3 extensions, .--Don't know if it would allow an addition extension. I'm not familiar with the single entry "o" I'll chk with Immigration tomorrow on these.

Thanks to both Elviajero and Johnatong, much appreciated.

What is the 'enter before' date printed on the visa?

[johnatong]

I'm on the last 90 days of the 1 yr period and that had 3 extensions, .--Don't know if it would allow an addition extension. I'm not familiar with the single entry "o" I'll chk with Immigration tomorrow on these.

Thanks to both Elviajero and Johnatong, much appreciated.

I very much doubt that you have had any "extensions" .

Do you mean that you have exited the country 3 times and returned to receive a new 90 day stay from a valid multi-entry visa ?

Look carefully at your visa. It will have an "enter before" date clearly marked. If you make an entry to the country on or just before that date you will receive another 90 day permission to stay.

The single entry "O" visa is a visa which allows one 90 day stay and is easily obtained if needed. All that is required is your passport and evidence of having the financial means to meet the requirements of an extension of stay based on retirement.

[Dakster]

--Sorry, Johnatong, You're correct, I've exited and returned at Ranong 3 times.. I have it in front of me now and under 'No. of Entry' it has "M". The last stamp in Ranong has- Admitted until June 6, 2016 and the "Enter Before" on the O visa is May 21, 2016.

Thank You

[johnatong]

--Sorry, Johnatong, You're correct, I've exited and returned at Ranong 3 times.. I have it in front of me now and under 'No. of Entry' it has "M". The last stamp in Ranong has- Admitted until June 6, 2016 and the "Enter Before" on the O visa is May 21, 2016.

Thank You

OK !

Your visa, it seems, remains valid, so if you need more time you could exit/reenter on or before May 21 and receive another 90 day stay.

[Dakster]

Much Thanks Johnatong,

I'll sleep a bit better tonight!

[Pib]

Does Phuket immigration have an issue with "fixed" savings accounts? I sure know Bangkok immigration don't as I've been using a fixed savings account for years for my retirement extension of stays.

Generally for fixed savings accounts in Thailand the funds are immediately accessible...it's just you lose most/all interest earned to date if withdrawing funds before the fixed savings account maturity date.

[ubonjoe]

Many offices will not an accept a current account (checking account). There have been several reports of immigration turning those down.

A fixed term account is a type of saving and should be accepted by most offices as long a the funds can be withdrawn without delay or penalty other than loss of interest.

[IMA_FARANG]

I came to Thailand on a Non O multi entry on year visa in October 2010 from Hull.

That was available then easily from the Thai consulate in Hull, but is not as easily available now.

One of the first things I was told when I got to Thailand was that as long as my one year visa was not expired i could do a "border run" just before the visa expired and get another 90 day entry stamp, which made it possible to use my one year visa for 15 months

For personal reasons, I never did that,, but instead chose to go for a retirement visa extension, which I did annually for the first 3 years of my stay in Thailand.

But such a "border run hop" still is possible if you complete it and re-enter Thailand before midnight of 21 May.

The person who told me this said that was what is known as 'milking the visa" to get he last drop of milk out of the visa before it goes "dry".

[phuketjock]

Much Thanks Johnatong,

I'll sleep a bit better tonight!

I just renewed my retirement extension in February at Phuket immigration and they accepted

my fixed deposit account without hesitation but as always it depends on the IO on the day.

Good luck Dakster.

This might get a more informative response in the Phuket forum??

[KhunBENQ]

If it's what Bangkok Bank calls "Fixed Deposit Account" and allows full withdrawal of the current balance anytime (with loss of interest) then you should try your luck.

Don't move anything before you have shown the bank book at the immigration office (reception desk or officer).

I am not from Phuket, so it does not help too much to tell that I always used fixed deposit account since years.

[ozyjon]

I once had a One year Non-Immigrant "O" visa, i went through hoops

like in a circus to get it, after spending one year in Thailand i thought

to myself ''i'm crazy'' and this circus act had to be performed every

year,, stuff that, now it's 6 months here, 5 months there, 3 months

somewhere else, if i had to be a full time resident somewhere i'd go

back to my home country, this visa thing is too hard on the brain.

[skatewash]

Phuket Immigration has accepted fixed deposit accounts from Bangkok Bank for my annual retirement extension. They have also accepted a Mee Tae Dai savings account from Krungsri Bank. I believe these accounts are simply considered types of savings account. You can access the money at any time you wish. In the case of a fixed deposit account, you will forego the interest that would be due (at the end of the term) on the amount of the withdrawal if kept to term. In the case of a Mee Tae Dai account, you will forego the interest that would be due (monthly) on the amount of the withdrawal if kept for the entire month, and you may have to pay 50 Baht to withdraw money from the account if doing so in excess of two times per month. However, the principal in either account is not subject to market fluctuation and is instantly available for withdrawal, which I believe are the key requirements to satisfy the financial component of a retirement extension.

I don't think you'll have a problem using a fixed deposit account to satisfy the annual retirement extension requirement at Phuket Immigration. You'll only really know the definitive answer to that if you try it.

[novo58]

AS has been stated ....fixed term deposit accounts are accepted in most immigration offices( I wont say all) without any problems.

Maybe OP should go and apply for his extension based on retirement in EARLY MAY (can apply up to 30 days early at most offices), and if he does encounter a problem , he can do a border run to get a new 90 days on his non- imm "O" visa and then immediately put the funds into a suitable account.

BUT .....DO NOT move the funds until after you get a response from your local imm office about the present account that you are using.

[Dumbastheycome]

Does Phuket immigration have an issue with "fixed" savings accounts? I sure know Bangkok immigration don't as I've been using a fixed savings account for years for my retirement extension of stays.

Generally for fixed savings accounts in Thailand the funds are immediately accessible...it's just you lose most/all interest earned to date if withdrawing funds before the fixed savings account maturity date.

I too have always used a "fixed" account but which is also available immediately on request. I have done so because I am sure that in my original application and subsequent extensions that a "fixed account" was specifically required. Maybe I missed seeing a change apart from luckily spotting the 3 month requirement for extensions. I have always made sure the account number has remained the same too. It provides a picture of a stable deposit even when the fixed term expires and it rolls over to a monthly rate.

[CMBob]

Somewhat difficult to determine what you or the bank may mean by a "fixed" deposit account; however, if it's a term account (doesn't mature until some length of time) and you're able to withdraw the money (with loss of accrued interest) at any time, then you'll have no problem getting the standard bank letter for your "retirement" extension. If, however, you got a truly fixed account where you can't get your money under any circumstances until the end of the time period, it won't qualify.

When opening any bank account which you plan on using as your 800,000 baht requirement for a retirement extension, it's wise to make sure at that point in time that it qualifies for the bank letter. Just ask them then and they'll tell you "yes" or "no."

[AlfonsV]

If it's what Bangkok Bank calls "Fixed Deposit Account" and allows full withdrawal of the current balance anytime (with loss of interest) then you should try your luck.

Don't move anything before you have shown the bank book at the immigration office (reception desk or officer).

I am not from Phuket, so it does not help too much to tell that I always used fixed deposit account since years.

I stay her since years and besides the savings acc with much less than 800k I have never presented anything else than what Bangkok Bank calls "Fixed Deposit Account" with the required 800k.

[kokopelli]

Since the OP is a USA citizen why not go the US Embassy Outreach on May 20 in Phuket and get an Income Affidavit and skip all the business about having any money in a bank account? The Embassy will not require you to provide an income proof.

Income Affidavit

The Thai government requires all U.S. citizens with Thai retirement visas to verify their income when they renew their retirement visa annually. Please print out this income affidavit (PDF 23KB) form to complete by hand or complete this income affidavit online then print it out. Please remember not to sign the form before you come to the American Citizen Services Unit. You will need to sign it in front of a designated officer.

Fee: $50

[Dakster]

Update: I returned to Phuket Town Immigration today and the IO advised the fixed account is acceptable. I don't know if that is a certainty depending on the IO. Additionally, for the first year application, only 60 days in the account is required. --but 3 months after 1st application. Thanks to everyone for all your responses. Much appreciated.

[phuketjock]

Somewhat difficult to determine what you or the bank may mean by a "fixed" deposit account; however, if it's a term account (doesn't mature until some length of time) and you're able to withdraw the money (with loss of accrued interest) at any time, then you'll have no problem getting the standard bank letter for your "retirement" extension. If, however, you got a truly fixed account where you can't get your money under any circumstances until the end of the time period, it won't qualify.

When opening any bank account which you plan on using as your 800,000 baht requirement for a retirement extension, it's wise to make sure at that point in time that it qualifies for the bank letter. Just ask them then and they'll tell you "yes" or "no."

As far as I am aware Bob the "fixed" refers to the interest rate for the term of the account.