Kind of bankaccount NOT accepted for extensions

[glegolo]

Plse educate me. What kind of bankaccounts are NOT accepted when you are applying for extensions and base it on "money in the bank"...

Thank you so much for your help...

 

I heard about "locked" accounts, but what kind is that???? The allowed ones are the ones where the money is availible at all times I guess?

 

glegolo

[ubonjoe]

It has to be a standard savings or fixed deposit account. It has to allow withdrawal of the funds without delay or penalties other than loss of interest.

[glegolo]

Thank you so much for your help.... great..

 

glegolo

[merijn]

17 minutes ago, ubonjoe said:

It has to be a standard savings or fixed deposit account. It has to allow withdrawal of the funds without delay or penalties other than loss of interest.

Better to check it before hand with the immigration office where you apply for the extension.

At Phuket immigration it depends for which extension you go.

Retirement extension is as you explained but for marriage extension only saving accounts are excepted.

[ubonjoe]

11 minutes ago, merijn said:

Retirement extension is as you explained but for marriage extension only saving accounts are excepted.

That is probably another one of those Phuket only things.

I have never heard of that being done at any immigration office.

[allane]

Look for a statement such as this in the passbook "No interest will be paid on any amount withdrawn before the maturity date."  That tells you, and Immgration, that your money is not locked in.

[fpexpert]

I used a combination of foreign currency deposit and savings account for my retirement extention, had to use both as the exchange rate went down more than anticipated

[glegolo]

Guys I really appreciate your replys....

 

glegolo

[CMBob]

As noted, just make sure you can withdraw the funds at any time (although, also as noted, you'll lose all accrued interest if you grab the funds ahead of the maturity date....although the banks do have similar accounts that let you occasionally withdraw some of the funds without loss of interest).  Whenever my "visa/extension" account matures and I end up setting up another longer-term deposit, I always ask if the account they are proposing qualifies for the annual Immigration letter (if so, it should be fine).  This info is good for Chiangmai Immigration (I have no clue about the other province offices).

[sadherbert]

I use a fixed deposit account but ask the bank to attach to their letter the standard terms and condition which state that that monies can be withdrawn subject only to loss of interest. The few times I have been questioned have been swiftly resolved by pointing to the terms attached to the bank letter.

[merijn]

14 minutes ago, sadherbert said:

I use a fixed deposit account but ask the bank to attach to their letter the standard terms and condition which state that that monies can be withdrawn subject only to loss of interest. The few times I have been questioned have been swiftly resolved by pointing to the terms attached to the bank letter.

Good suggestion.

[PGSan]

 

 

15 hours ago, fpexpert said:

I used a combination of foreign currency deposit and savings account for my retirement extention, had to use both as the exchange rate went down more than anticipated

 

That is very useful information as I have been close to having that problem.  Thanks for posting!

[RyanWalker]

Yeah I never needed any bank statemwnt for no extention and I've done them all so unless this is a new thing.. never heard of it. Done my last extention a month ago.. and it was 5min with no statements.

[dorayme]

In Pattaya I have monies in a long term saving which guarantees a credit card. BKK Bank notes the amount at the bottom of the letter and the Immigration accepts this as part of the required amount to extend the retirement visa. I've had no problems.

 

Best to check with the local immigration.