Chongalulu

4 hours ago, PatOngo said:

IMHO if someone cannot afford to deposit 800,00 baht in an account then they are not ready for retirement!

If you’re economically literate you would not want 800k sitting in a zero/low interest Thai bank account rather than invested in a medium generating income/growth.

4 hours ago, ubonjoe said:

I have already looked at it. I think it will all get sorted out shorley. I think they don't really understand the new rules yet.

Although I think you’re correct they will sort out this aspect,the disquieting thing is the amount of confusion already  by a number of offices manifested  on such a simple aspect . This is prescient for  the Far more complex question of identifying incoming funds into your account as coming from abroad which I covered in my earlier post. Even those having their uk state pension paid directly by the uk government into their Thai account are not identified  on the receiving banks codes as being a foreign transaction because they also use fx companies rather than banks making expensive single transactions  

. How do you think that will be sorted out? 

There is no time for someone like me who’s extended their visa last week to wait until this is sorted out when I have to ensure February's payment will show correctly to ensure 12 monthly payments are in place for my next extension. And in what format will the bank letter be if what I think will be the case, in that this bank letter will be expected to do all the work for Immigration? Individual branches,especially in out of the way areas are not going to understand the complex aspect of intermediary banks role in effecting most fx companies transfers of funds.

23 minutes ago, Golden Triangle said:

I have a friend in Phimai, he uses the Kasikorn as well, he was told by Korat immigration a couple of weeks ago while doing his 90 days, that the combination method wasn't an option and had to either have 800k seasoned or 65k a month going into his account every month, he will be reverting to a marriage visa as well, I did post that on here on another thread to inform people.  

Although that wasn’t an issue in my post thanks for reiterating that. Korat is one of the more amenable and friendly offices and your post just goes to further illustrate what a total mess this new income fiasco is going to become with confusion and misunderstanding all around. Totally predictable from the outset.

On 1/18/2019 at 10:16 AM, ubonjoe said:

But you only have to do it once a year. Much better than doing border runs every 90 days.

Not all that hard after the first extension. Just remember what you need every year. I have all the copies needed saved in a folder that is backed up on Google drive. Just do the same photos for the new extension and print them out.

From 2015 I did 2 years marriage visas subsequently moving to retirement visas which I only yesterday extended until Jan 2020. I’m going to return to marriage visa at that point because of all the income related issues surrounding identifying foreign transactions ,and season 400k in bank for 2 months beforehand. In terms of the additional requirements for first time marriage visa extension will I be treated as a first time applicant in that respect? Korat office is usually efficient and helpful and we have a good relationship there. 

I guess I should take new photos although previously they always accepted the photos from previous year’s application? 

42 minutes ago, OJAS said:

If you are planning to open a BKKB account so as to receive TransferWise transfers with an "international transfer" (FTT) code in accordance with the new Immigration requirements, please bear in mind that BKKB are not the only agency bank which TransferWise use in Thailand. For instance they used TMB for one of my transfers which ended up in my BKKB account under the SMT coding. As you will see from the following thread I originated on the Banking forum this particular code does not appear to have even a teeny-weeny aromatic whiff of "international transfer" about it:-

 

 

That said, at least you will with a BKKB account have the alternative to SWIFT transfers in the form of transfers via their London branch available to you, which have always been coded FTT in my experience. Unlike its New York counterpart this facility does not appear to be going away any time soon - although getting yourself signed up for it will necessitate you jumping through some bureaucratic hoops which could make your current challenges in opening an account look like a walk in the park in comparison:-

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-UK-to-Thailand-via-London-Branch

 

 

This is of particular importance if (as you will) be relying on that because a single month in the whole year when it doesn’t show up as international will invalidate the basis of your application. Nor will it mean they will always use that route. The basis of FX  companies is that they may use any intermediary bank they chose if that change is cheaper for them. Both my uk banks Santander and nationwide have a £25 or £20 charge for each transfer so £240 - £300 per year in fees is rather hefty. 

Do the banks even know exactly what they are going to have to say in this letter to satisfy TI? Try explaining what you want in this respect to a branch in the sticks when they don’t really even understand their own codes.There is a lot more pain and confusion to result from this requirement .

2 hours ago, 8OA8 said:

The problem with the Transferwise route is that the funds don't come from outside Thailand and they advis that before the transaction is done. I noticed on my bank statement last week where the source of inbound funds received via Transferwise as stated as coming from "DUMMY BRANCH"  

Yes,this is an issue with many FX companies- that what shows up on the Thai receiving banks books (and your bank book) is often a domestic transfer because of the route and intermediary the fx company uses.

What I can guarantee is that TI s rules will be poorly drafted and not thought through with much ambivalence and thus open to IO interpretations.

17 minutes ago, Hanuman2547 said:

I have overstayed twice.  Once by two days and once by a day.  Got fined both times.  The one by a day was about 30 hours but they don't know that as your passport is stamped with a day and not a time of entry.  However, who is to say if they bring up your details on their computer that they do have it time stamped there?  

It’s stamped with the day- you have to leave (your flight must depart) by midnight on that day. The time is immaterial.

22 hours ago, Just1Voice said:

Oh, really?  Well, <removed>, my next door neighbor just happens to work at Chiang Mai Immigration, and according to him, I'm more than covered.  <removed>

A bloke down the pub said..... That’s all that means -official Thai Immigration rules requires income letter and that’s all that’s acceptable until they change that.

18 hours ago, Mavideol said:

so to understand correctly... we work collect a salary, pay taxes on that salary while working....then we retire collect a misery of what we paid for and still have to pay taxes on that misery of a pension.... double taxation or maybe triple taxation if retired into a country taxing us for the moneys bringing in to such country....

No,you only pay uk tax on the income generated in uk (pension,rental income etc) . There is no paying tax twice (double taxation agreements) and certainly transfers of that income into Thailand are NOT income to be taxed by Thailand. Also you have a current uk personal allowance of £11850 (£12500 from April 2019)on which you pay no tax and 20% tax only on the income above that,until you reach higher rate threshold.

9 hours ago, EL159 said:

No. You need a letter/ letters from your pension provider(s). Surely not difficult as long as you re telling the truth? Get your pension provider to send you a word document which you can then print off here.

NO YOU DON'T. It even tells you on their website that a bank statement is all that’s required...and this works in practice from 3 other sources of information apart from mine. Please stop just saying what you think MIGHT be the case.

7 hours ago, Bredbury Blue said:

Still not on tv here. I usually watch the game later, on this website:

 

https://www.fullmatchesandshows.com/2018/11/27/lyon-vs-manchester-city-highlights-full-match/#2

Thanks for that as footballorigin seems to be playing up and getting this incomprehensible message right across the video 

- although this site seems to be somewhat derivative of the first. ..?

Also a bit flaky with the video stopping frequently and laboriously having to reload from the start and trying to fast forward to the last point. Watching on iPad Safari,and screen mirroring via hdmi lead to big tv, doesn’t seem to have chromecast..? so grateful for any tips you’ve found to improve performance...

17 hours ago, ubonjoe said:

The only thing coming from immigration I will pay attention to is when it comes from the Immigration Bureau not some head of a local office.

It is certainly lacking any useful information in IMO.

Ubonjoe is ,as ever,correct and this is nothing but a self important IO taking advantage of the confusion to grandstand 

1 hour ago, Sheryl said:

Are you sure no credit advice is generated? You would not know unless you ask. It does not come to you or your branch otherwise, just stays on file at the bank HQ.

As an aside what does this company charge as transfer fee for around US $25?

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app
 

No,I haven’t asked because I’ve not needed it so that could be the case. However I recently registered for online banking and since my post looked at the online statements and rather oddly (and perhaps worryingly) it posts against the deposit 'Domestic Transfer' which it really isn’t. I’m wondering if the transfer from the point I instruct it on the website first goes to another bank within Thailand and thence to my account...but this is not an unusual method with FX transfers. I may have to do further investigations with the bank to clarify this.

World first charges no transfer fees and their rates are around 1/2 baht less per £ than the full interbank rate (so around 1%) which is pretty good. I notice Kasikorn doesn’t credit the full amount in baht that the fx company advises it is sending nor does it indicate a separate deduction fee but the difference amounts to around 0.1% of amount sent,again I understand this is normal with banks here.

I transfer at least £1000 per transaction and don’t think it’s designed for amounts as tiny as $25,if that’s indeed what you meant?

Hope that helps?

1 hour ago, stevenl said:

Strange, my Kasikorn bankbook shows me the code so I can see where the money came from.

What actual code does it show? See my post re BNT above .

20 hours ago, Sheryl said:

When money is transferred from oversees there is something called a "credit advice" that comes in. Your bank HQ will have it.

 

Even though I use the 800K method my Imm office requires proof the money came from overseas, I get that in a bank letter and for that I have to show the bank the various credit advices. They then include the details in their letter, describing briefly each transfer.

 

You can arrange with most banks to have these Credit Advices sent to you routinely. Then when extension time comes around you bring them to the bank and have them include this info in a letter, i.e. Mr X bank account number X has received X transfers from abroad into his account as follows:  (amounts, dates, where from)"

 

This is what a Credit Advice from Kasikorn bank looks like:

 

I use an FX company (World first) not an expensive bank to send money to my Kasikorn bank. No paperwork of the sort you show is routinely generated,just an entry in my bank book with a 'BNT' and some numbers shown in the right hand column headed 'Teller number '. Does this signify (and would immigration understand) that this relates to overseas transfers? If not, could Kasikorn retrospectively produce documentation for either this purpose or for the purposes of proving I’d brought the money in should I ever wish to repatriate funds? 

On a separate note,all this uncertainty about income letters is simply giving self important IOs the opportunity to grandstand,flex their muscles and put their own interpretation on things. 

2 hours ago, marcusarelus said:

OK.  I said the difference between a bad and good investment is peanuts.  The bank (a bad investment but no risk) will make you a hundred or so for three months.  How much will your investments make you for 25 grand in three months with no risk?  For your info the Dow just dropped 600 points and erased all the gains for the year.  Economics is my strong suit.    Apparently not yours.  The Nasdaq plunged 3.8% on the week, its worst since March. The index is on track for its steepest monthly decline since November 2008.

If economics was your strong suit you would not be judging stock markets over a period of a week or two. 5 year timespans are the usual measure and in virtually any 5 year period stock market investments have always outperformed bank deposits which are a slow motion car crash ravaged by inflation.

6 hours ago, chicowoodduck said:

My strong suit is knowing how much hoop jumping I can tolerate....and I know the fine line between nourishment and punishment and when to go to Plan B......????

If only that made any sense.....

My strong suit is being able to assess that this is a long way from being settled. I predicted other embassies would be effected.....

6 hours ago, marcusarelus said:

The difference between an appalling investment of 25 grand and a wonderful investment is a few hundred dollars a year.  Lets stay real here.  

So thanks for confirming economics is not your strong suit. Guess you haven’t been following the Dow Jones or NASDAQ indexes over past couple of years. Seems I’ve made an awful lot more than a few hundred dollars pro rata on my portfolio. Compound growth probably means nothing to you either...?

19 hours ago, robblok said:

Why an exodus ? its not that hard to put money in a Thai account. If you have the money its just moving money around.

Firstly,having 800k sitting in a low interest account is an appalling investment and secondly having a sufficiently high income enables you to spend and support yourself in the country to the advantage of the Thai economy. My capital is tied up in investment property and stocks which gives me an income over 4 x the required minimum. Economics not your strong suit I guess?

On 10/24/2018 at 3:23 PM, Wake Up said:

This lady was a supervisor and seemed authorative and had a form she filled out while talking to me but as UJ says she is one supervisor and I really don’t think Thailand wants to get rid of guys like you. Maybe they will work it out and change things again once they think through all of this. I am curious if any other Americans got the same talk I did today at CW. 

Being a supervisor and authorative in Thailand is not an indicator of knowledge (quite the opposite in many instances). The fact remains that the whole scenario is embroiled in confusion until official statements by Immigration department are made (if they ever are) ,giving the likes of this officer the opportunity to make it up as she goes along.