Do I need a Thai Bank Account to get an Extension of Stay based on Retirement.

[Thailand J]

 

SWIFT can be expensive. NY Bangkok Bank is a low cost option.

The cheapest way I can do it is free SWIFT via Vanguard and Charles Schwab, only have to pay 500B to local Bangkok Bank to receive.

[ubonjoe]

21 minutes ago, poanoi said:

s there any online transfer money 101 guide ?

This might help. http://www.expatyourself.com/2010/03/how-to-transfer-money-internationally-part-i/

[bkk6060]

1 hour ago, Thailand J said:

 

To move $2500 as the way you do will generate a fee of 500B+ every month: US$10 for NY Bangkok Bank plus 200B here . You may have other reasons to do so, but it is expensive and unnecessary for others.

 

 

Have had a BKK Bank account for several years never has any of the fees you talk about......

[arithai12]

24 minutes ago, bkk6060 said:

Have had a BKK Bank account for several years never has any of the fees you talk about......

Me too, and they charge 500B for every incoming international funds transfer. Unless you are transferring directly THB?

 

Mind you, there is no such fee explicitly shown: you only see that your account has been credited with x THB. But if you ask them to print out the details of the foreign transaction, you will see the BKB charge.

 

To the OP : in general, for someone who lives for long periods in Thailand, a bank account should be quite useful regardless of IO requirements.

 

 

Edited May 17, 2018 by arithai12

[Elkski]

What forms of income streams are acceptable for a Non O-A long stay visa ?   

Rental income from property in US?

Withdrawals from 401k in US?

Withdrawals from cash account in US?   

How you your get this verified?  

Just an affidavit you take to US embassy to get signed but  they don't do any checking ?

[ubonjoe]

12 minutes ago, Elkski said:

What forms of income streams are acceptable for a Non O-A long stay visa ?   

Rental income from property in US?

Withdrawals from 401k in US?

Withdrawals from cash account in US?   

How you your get this verified?  

Just an affidavit you take to US embassy to get signed but  they don't do any checking ?

I think most embassies and official Thai consulates will accept any income you can prove for the OA long stay visa. I don't think they would accept a income affidavit from the US embassy here.

Immigration will accept the income affidavit to apply for an extension of stay based upon retirement. There is no rule that states what type of income it has to be. Some immigration offices may want back up proof of the income but that can be a Thai bank book showing funds coming on a regular basis. It would not have to be the entire 65k baht amount coming in.

[bkk6060]

1 hour ago, Elkski said:

 

Just an affidavit you take to US embassy to get signed but  they don't do any checking ?

Yes

And if you don't bring one from online, they have them there.

Hey, if one wants to look like Mr. Big Bucks put down 1 million dollars a month.

Because, they check nothing.

I do know guys that lie about it.  Easy Peasy.

 

It is however a fraud and federal crime.

 

Up to you.......

 

[Wanderer555]

5 hours ago, Thailand J said:

Some ATM issuer, for example Charles Schwab reimburses ATM fees so it'll cost nothing. Some ATM machines ( Bank of China?) do not charge a fee. So Using ATM can be expensive or it can be free.

 

To move $2500 as the way you do will generate a fee of 500B+ every month: US$10 for NY Bangkok Bank plus 200B here . You may have other reasons to do so, but it is expensive and unnecessary for others.

 

 

Yes, I agree it can be a bit more expensive than other routes including Transferwise.
 

The most cost-effective method seems to be to use my Charles Schwab account to transfer money from my main US Bank to my Charles Schwab free checking account, use the C. Schwab ATM card to withdraw funds at a Thai ATM, ( International ATM fees are reimbursed), and then deposit those funds into my Bangkok Bank account. 

I use the Bangkok Bank account to pay many of my Thailand based bills such as rent etc and enjoy the convenience of doing it online.
 

At the end of the day, transferring directly from my bank to Bangkok Bank cost a little more but it is quick and easy, and sometimes I prefer that over saving a few baht and messing with multiple bank transactions... but always open to exploring new methods.

Cheers!

[watcharacters]

14 hours ago, PoorSucker said:

Yes, you still need to provide a bank book, it's on their check list. 

BTW Samui immigration wants a health declaration for retirement extension, only office in Thailand as far as I know. 

 

 

Since it's not on the Thai government check list it must be from some kind of shadow government, Yes?   Is there also a mention of weather conditions   or officer attitude or applicant attitude?

 

 

Funny how the local  government offices can act so totally independent from the edicts of the central office.    I wonder how often that  happens throughout the world.    TIT

 

Forever..

 

 

[watcharacters]

3 hours ago, arithai12 said:

Me too, and they charge 500B for every incoming international funds transfer. Unless you are transferring directly THB?

 

Mind you, there is no such fee explicitly shown: you only see that your account has been credited with x THB. But if you ask them to print out the details of the foreign transaction, you will see the BKB charge.

 

To the OP : in general, for someone who lives for long periods in Thailand, a bank account should be quite useful regardless of IO requirements.

 

 

 

"But if you ask them to print out the details of the foreign transaction, you will see the BKB charge."

 

And what is the charge to have that print out made?

 

They do seem to enjoy collecting fees for little service.