Penkoprod

You have to use your pension information to obtain a letter from your Embassy. That letter is accepted by Immigration (along with the proof) as your pension income. There is no need to transfer any funds to meet immigration requirements but if you do not meet the 65k per month with pension you will need enough in account to compensate for the shortfall.

Most people use SWIFT wire transfer a couple of times a year to bring in money as required. As large transfers are less expensive you have to work out what is best for you based in loss of interest and fee charges.

If i am reading it right, then that would be great in as much as one wouldnt need to ship in the requisite 65,000THB a month, but, just what was needed to live on.

Also, is this just "pension" or can this income be from, say, interest on investments?

Penkoprod

Its not the "extras" i am talking about, but the month by month pension transfers that concern me

Most of my savings will be in yearly income bonds, and not with HSBC, but the interest accrued on them (and my pension) will be.....or at least thats how i plan it at present, subject to other suggestions

Penkoprod

Okies...... i am making a few plans prior to retiring, and coming to live in Thailand, hopefully next year

My company pension will cover the required ammount of cash needed for retirement visa, so thats not a problem ammount wise. But one thing that concerns me is getting it from my bank in UK over to Thailand. The last time i transferred any money over there my bank hit me for £18 charges !!!!

While this wasnt too bad as it WAS a fairly large, one-off ammount, i cant see myself being too happy with having to pay upwards od 1500TBH each and every month, just to get at my money each month

What do you guys in similar circumstances do to minimise this expense? I am currently with HSBC bank in UK, but dont want to leave 50,000 GBP lying around in a Premier account with them just to qualify for free services.

I know about The Nationwide account, but thats ok for ATMs and suchlike, but not so good to qualify for a retirement visa !!

Any suggestions gratefully recieved

Forgive me if this has been covered before, but..........it gets a bit busy in here, lol !!!!

Penkoprod

No it is not a one year only item. 800k or 65k or combination.

What you seem to be saying is, all one has to do is wave a bank book in their faces with the same 800k in it year after year and you are ok to go

Penkoprod

I shall and I can. I'm confident I can meet the requirements. I merely make the point that a simple 800k deposit in a Thai bank may not be sufficient in some circumstances, according to variations in the interpretation of the rules by Thai Consulates.

Isnt the 800k only "valid" for the 1st year, and you will have to show either a monthly income of 65k, or a combination of some "lump sum" AND a monthly income to make up the balance of 800k a year in subequent years?

For example.......... you leave 400k as the lump sum and then need a monthly income of 33k

Penkoprod