Bank Accounts

[was_usvirgin]

A check card, where I come from. No credit, unless you have some kind of overdraft protection. Just debits your checking account.

[BadaBing]

yup , same-same , when shopping at the market here ( Ralph's ) , can even get cash back too.. Only used my ATM for cash withdrawl overseas.

 

Bada Bing

[cavanami]

From what I understand' date=' you must wire in like 2,000,000 Baht, to a Thailand Bank account, so as to secure your retirement visa.[/quote']

cavanami certainly intends to be helpful, but his "understanding" is way off the mark.

I wish he'd check his facts.

 

I went through the process today -- getting my retirement visa renewed, for the third time.

 

First, you may have any combination of money in the bank and/or monthly pension.

If you have a pension of 65,000 baht/month, you don't need any money in the bank here.

If you have zero pension, you must show 800,000 baht once per year.

You do NOT have to bring in 800,000 baht every year, just "top up" your account to that level to quality for retirement visa.

 

In theory you could bring in 800,000 once, and just let it sit in the account.

BUT, immigration will likely question you about what money you used for living expenses.

I say "likely", because I haven't done that.

I draw out money every few weeks for my expenses.

I sat and watched today as the immigration lady looked carefully through every page of my bank book.

 

If you use the bank deposit option to quality for the retirement visa -- that is, your pension is below 65,000/month -- then you must provide evidence from the bank that your bank deposit is foreign currency brought in from abroad.

It can not be Thai currency deposited here in Thailand.

Reason for that is retirement visa holders are not allowed to work here.

A letter from your bank is required to verify to immigration that the money in your account is foreign funds.

I got that letter from my bank today.

Cost for the letter -- bank service charge -- 100 baht.

.

 

Since you just went thru the process, this is excellent info.

 

I as told the 2M Baht by a financial planner in BKK...sooooo, maybe I don't need to go with him

 

Thanks for the fresh info!

[Palatkik]

They did offer a Visa type card, but don't need and I would expect not as easy to get, but did not check into it..

 

This would be the Visa Electron card which Kasikorn made ver easy for me to get, just had to part with 300B. It's a debit card to go shopping locally with. That's all you can use it for and cannot shop with it on the net which is a pain.

[Nervous_Dog]

You can use it internationally, at least I have in Sing/Malaysia/Indo/Australia

 

DOG

[Mentors]

It's better if you open an bank account there where you most of the time stay in LOS.

If you have an account for example in Bkk and you use the ATM in Pattaya, then they charge 20 Baht

(instead 10). Also if you use the same bank.

 

[rickfarang]

Mentors Said: "i still would like to understand what will happen with such a farang-account when the owner died somewhere outside thailand."

 

I specifically listed all of my Thai bank accounts in my will so my wife will get conrol of them. She has the bank book and the ATM card with PIN anyway.

[Mentors]

yes, it seems to be the only best way.

[tilac]

Hi,

 

I got a savings account at Kasikorn Bank in Bangkok and would like to know if money from a EU bank (outside Thailand) can be transferred to that account.

How does it work, does anyone have experience with this ?

 

Cheers

 

Tilac

[dean]

I am U.S. based but have an account with the Siam Commercial Bank and the only way that I can transfer money is by wiring the money. I would also be interested if those that have Citi bank accounts can transfer money electronicly?