800k deposite requirement in Chonburi Question

[zombie nights]

I read this on Pattaya expats web site:

 

"IF YOU USE BAHT IN THAI BANK TO QUALIFY FOR RETIREMENT EXTENSION RENEWAL – READ THIS 
We have received reports from members who keeps the 800,000 baht on deposit in a separate Thai bank account for the purpose of meeting Retirement extension requirements have been told by Chonburi (Pattaya) Immigration that:
Latest Update: November 30, 2017  P a g e | 6 It must show some recent activity to be acceptable. If this applies to you, we suggest that before going for renewal you deposit some funds to the account and perhaps withdraw some – BUT be sure not to let the account balance drop below the 800,000."

 

http://www.pcecnews.com/permNL/THAI IMMIGRATION NEWS.pdf

 

-I really do not understand what is being said here. I have placed my 800,000 baht in a Bangkok bank fixed deposit account for 5 months to satisfy the requirement of 800 k for 3 months. Not possible to add or withdraw funds from it.

 

Can anyone explain what is meant by the above quote?

 

 

[roobaa01]

the stipulation by the immigration quotes savings and or/fixed account , however funds to be accessible immidiately.

some immigration offices require to see a second savings passbook detailing monthly expenses.

 

wbr

roobaa01

[allane]

It is possible to add funds; if told to do so by Immigration, go to your bank and deposit B 1000. (this is probably the required minimum deposit to a fixed-term account). As soon as you have got Immigration off of your back, you can return to the bank and withdraw it.

The rationale is likely that they want to know how you are supporting yourself, not simply that you have   B 800,000 in the bank.

Edited December 28, 2017 by allane
x

[ubonjoe]

The way that is written is a little confusing.

I suspect it means they want the bank book updated when you apply for the extension which is a normal requirement at many immigration offices. With a standard saving account it is easy to put a few hundred baht in the account to update it. It gets a little more complicated if using a fixed term account but most banks can do a forced update instead of needing to deposit or withdraw funds.

[Suradit69]

3 hours ago, zombie nights said:

I have placed my 800,000 baht in a Bangkok bank fixed deposit account for 5 months to satisfy the requirement of 800 k for 3 months. Not possible to add or withdraw funds from it.

In theory it needs to be an account where withdrawals can be made at any time even if doing so would result in a penalty in terms of interest. If money cannot be withdrawn under any circumstances until a set date, immigrations may not accept that since the point of the Baht 800,000 is to demonstrate you have money to live on.

 

If you also have an account that you use for living expenses into which you make deposits and from which you make withdrawals, maybe they would accept copies of that bank book or statement to show that you are depositing and withdrawing money for living expenses in addition to having the required Baht 800,000 in a fixed account.

 

 

 

Edited December 28, 2017 by Suradit69

[glegolo]

You asked for a explanation and I will give you one simple explanation. The immigration wants to know that your money is still in the account. They can see it is there for 5 months ago, but they cannot see that it is there upon time for applying for extension.

 

THAT is the simple reason for this.. Seems quite OK for me at least..

 

glegolo

[asiamaster]

14 minutes ago, glegolo said:

You asked for a explanation and I will give you one simple explanation. The immigration wants to know that your money is still in the account. They can see it is there for 5 months ago, but they cannot see that it is there upon time for applying for extension.

 

THAT is the simple reason for this.. Seems quite OK for me at least..

 

glegolo

Incorrect. If you have 800K in a fixed deposit  you still need to  go to the bank for your letter for immigration and they will confirm that the  800k is still in there. They will also update the bankbook. You still need to add copies of the bankbook which will actually show when the funds were put in. In addition I also ask the bank to state the balance of my savings account and provide copies of the book. This balance  does not need to be a large amount but as stated by others they do want to see some activity (deposit/withdrawal) on the savings account. Or else they might get suspicious how you are paying for your living expenses.

[soisanuk]

 

2 hours ago, ubonjoe said:

The way that is written is a little confusing.

I suspect it means they want the bank book updated when you apply for the extension which is a normal requirement at many immigration offices. With a standard saving account it is easy to put a few hundred baht in the account to update it. It gets a little more complicated if using a fixed term account but most banks can do a forced update instead of needing to deposit or withdraw funds.

 

A fixed deposit account, so long as it does not restrict withdrawal of funds (may lose the stipulated rate of interest if kept to full term), it is accepted by Chonburi (Pattaya) Immigration.  The notice mentioned is the Pattaya City Expats Club announcement is based on several reports from individuals who had always kept the 800k in a separate account from the one they use for regular transactions.  The Immigration Officer refused to accept the bank account as evidence as there were no recent transactions; thus they were required to go to the bank and make a transaction so that the passbook would show recent activity.  The reports did not relate specifically to fixed deposit accounts.  also, since they now have 2 or 3 different Immigration Officers reviewing the documents, it could be that it is only 1 of them imposing the requirement.

 

If you have another bank account that you use for regular transactions, it is possible if you use both accounts with a bank letter for each, so you can show you do have activity,

[wildpikey]

So you need to show 800k in a bank for a certain period. A lot of people just keep a bank with 800k to show for Visa purposes only. But now this also now has to show activity, but small activity like adding 1000 baht is ok as this shows you are supporting yourself.

 

What is this country about. It gets more bazaar by the day..

[elviajero]

29 minutes ago, wildpikey said:

So you need to show 800k in a bank for a certain period. A lot of people just keep a bank with 800k to show for Visa purposes only. But now this also now has to show activity, but small activity like adding 1000 baht is ok as this shows you are supporting yourself.

 

What is this country about. It gets more bazaar by the day..

Adding 100 baht is simply to update the passbook, not to show you are supporting yourself.

[glasswort]

2 hours ago, Suradit69 said:

In theory it needs to be an account where withdrawals can be made at any time even if doing so would result in a penalty in terms of interest. If money cannot be withdrawn under any circumstances until a set date, immigrations may not accept that since the point of the Baht 800,000 is to demonstrate you have money to live on.

 

If you also have an account that you use for living expenses into which you make deposits and from which you make withdrawals, maybe they would accept copies of that bank book or statement to show that you are depositing and withdrawing money for living expenses in addition to having the required Baht 800,000 in a fixed account.

 

 

 

This topic has been discussed ad nauseam and the requirements seem to vary according to the individual; applicant or I.O.. Personally I have been obtaining retirement extensions for around 15 years in Jomtien and have been using a fixed account with the same 800k for all of this time. The question of showing deposits and withdrawals has never been raised. O.k. there is often a lot more than 800k on fixed deposit and I top up my everyday account at regular intervals.

[thailand49]

The two people outside the counter (6) are just clerks they review the documents and at times from my experience don't know the right hand from the left. One person will ask for this the other don't seem to give a shit as they say.

Common sense which is nearly impossible to find at times here one would think if you have a letter from the bank with 1-3 days confirming the book amount would be enough unless they know for a fact banks letter aren't dependable if so, why even ask anyone to go get a letter.

For number of reason this is one why I no longer keep much money here in Thailand bank and just use my income which is more than sufficient to qualify.  Once had the current head ( you know the guy in the back sitting there doing nothing ) tell me can't use my joint book next time, should get a Thai Will etc.. what a joke. 

If it was me, all I would have done is place my book outside in one of those machine and have it updated on my book, it provides the date, make a copy and hand that in with the bank letter. 

[catman20]

7 hours ago, ubonjoe said:

The way that is written is a little confusing.

I suspect it means they want the bank book updated when you apply for the extension which is a normal requirement at many immigration offices. With a standard saving account it is easy to put a few hundred baht in the account to update it. It gets a little more complicated if using a fixed term account but most banks can do a forced update instead of needing to deposit or withdraw funds.

can i use a sterling account for my 800,000 if say i had 40,000 sterling it it which would be the equivalent to say 2 m thai baht?

[ubonjoe]

8 minutes ago, catman20 said:

can i use a sterling account for my 800,000 if say i had 40,000 sterling it it which would be the equivalent to say 2 m thai baht?

You can use a foreign currency account to apply for the extension of stay at most immigration offices.

[bttao]

What 's the return rate on a fixed term account Vs a regular account with withdrawal at any time?

[bttao]

8 hours ago, roobaa01 said:

the stipulation by the immigration quotes savings and or/fixed account , however funds to be accessible immidiately.

some immigration offices require to see a second savings passbook detailing monthly expenses.

 

wbr

roobaa01

 

can you show them ATM transactions slips instead of a second bank passbook?

[Suradit69]

11 hours ago, wildpikey said:

What is this country about. It gets more bazaar by the day..

Haven't notice an increase in the number of bazaars, but there does seem to be a steady increase in the number of shopping malls.

[Suradit69]

7 hours ago, bttao said:

What 's the return rate on a fixed term account Vs a regular account with withdrawal at any time?

Per Kasikorn Bank website: https://www.kasikornbank.com/en/rate

 

 

 

Edited December 28, 2017 by Suradit69

[Wullie Mercer]

16 hours ago, glegolo said:

You asked for a explanation and I will give you one simple explanation. The immigration wants to know that your money is still in the account. They can see it is there for 5 months ago, but they cannot see that it is there upon time for applying for extension.

 

THAT is the simple reason for this.. Seems quite OK for me at least..

 

glegolo

Surely the letter from your bank confirms the up to date status of your account? I had a letter , dated two days prior to my application, when I presented this and bank book they said my last transaction was October, now December, and I needed to go and deposit 100 baht and show it on my book. I pointed out that the letter confirmed the amount I had in bank on that day, two days prior, day in between letter and application was a holiday, this fell on deaf ears even with boss inside side office. I went out and deposited 100 baht and copied updated page,  and got my visa then with no problem. Next time will make sure bank stamps an update the day I request letter. Som nam na

[BritTim]

6 minutes ago, Wullie Mercer said:

Surely the letter from your bank confirms the up to date status of your account? I had a letter , dated two days prior to my application, when I presented this and bank book they said my last transaction was October, now December, and I needed to go and deposit 100 baht and show it on my book. I pointed out that the letter confirmed the amount I had in bank on that day, two days prior, day in between letter and application was a holiday, this fell on deaf ears even with boss inside side office. I went out and deposited 100 baht and copied updated page,  and got my visa then with no problem. Next time will make sure bank stamps an update the day I request letter. Som nam na

They want to check that the balance has been over 800k for the entire last three months. Two snapshots (a day in October and one very recent) are not sufficient to demonstrate this. They need a full statement for the last three months, and a deposit (or withdrawal) followed by a bank book update is the easiest way to achieve this.

[R123]

30 minutes ago, BritTim said:

They want to check that the balance has been over 800k for the entire last three months. Two snapshots (a day in October and one very recent) are not sufficient to demonstrate this. They need a full statement for the last three months, and a deposit (or withdrawal) followed by a bank book update is the easiest way to achieve this.

Surely a fixed deposit account book will show the initial deposit and then show if that deposit 3 (or more) months later has remained the same. The bank book would show if any reduction during the 3 month period. if no entry can take it no reduction.

If the bank book is accompanied by a confirming letter from the bank stating the 800,000 in the account unchanged for 3 months there ought to be no problem.

 

Incidentally the requirement is for 800,000 baht to be in the account for 3 months. If that provision is satisfied then-assuming all other factors being satisfied - it might difficult for immigration to refuse a renewal.

 

 

Edited December 28, 2017 by R123

[BritTim]

4 minutes ago, R123 said:

Surely a fixed deposit account will show the initial deposit and then show if that deposit 3 (or more) months later has remained the same. The bank book would show if any reduction during the 3 month period.

If the bank book is accompanied by a confirming letter from the bank stating the 800,000 in the account unchanged for 3 months there ought to be no problem.

Although it may seem very harsh, there have been cases where someone has withdrawn some money from the account (accidentally causing it to fall below 800k) immediately realized their mistake, and deposited money to reverse the withdrawal a few hours later. Most immigration offices will stick strictly to the letter of the seasoning rule (though senior immigration officials do have the power to waive the seasoning requirement). Officials are instructed to be absolutely certain they have a complete record of all deposits and withdrawals for the previous three months.

[asiamaster]

19 hours ago, soisanuk said:

 

If you have another bank account that you use for regular transactions, it is possible if you use both accounts with a bank letter for each, so you can show you do have activity,

You can get both your fixed deposit and your savings account listed in one letter. When getting the letter ask them to update both bankbooks. Provide copies of both books (cover page and transaction pages). How simple can it be? 

I went in to Chonburi immigration on Christmas day (many people think it is closed then so not busy) and was in & out in 10 minutes..