Money in the bank for retirement extension

[mrjohn]

Just want to make absolutely sure I understand this correctly.

I will need to do this year’s retirement extension by the combination method for the 1^st time.

I will have a letter from the UK embassy confirming my income but it will be less than the required 800,000 Bht per annum

 

As I understand it I need to deposit sufficient funds in a Thai bank savings account to cover the shortfall.

The money needs to be in the bank 90 days before I apply for the extension.

And it needs to maintain sufficient balance to cover the shortfall during that period.

Is this correct?

 

PS I have just read the British Embassy’s intention to stop this service on 1 January 2019 but as yet this does not affect my situation.

[NCC1701A]

38 minutes ago, mrjohn said:

Just want to make absolutely sure I understand this correctly.

 

yes. make sure you have statements from the Thai bank for the whole 90 day period. The money must be there for 90 days. 89 days no good. The statements need to be stamped by the bank so they can see they are originals and dated a day or two around the date you going to immigration. same day is best.

 

fixed accounts require a letter from the bank because typically they don't generate statements for these.  

 

and update your Thai bank passbooks.

Edited October 9, 2018 by NCC1701A

[ubonjoe]

3 hours ago, mrjohn said:

As I understand it I need to deposit sufficient funds in a Thai bank savings account to cover the shortfall.

The money needs to be in the bank 90 days before I apply for the extension.

And it needs to maintain sufficient balance to cover the shortfall during that period.

Is this correct?

Correct

But you also have to allow for exchange rate changes when you deposit the money. Immigration will calculate your income based upon the exchange rate on the date you apply for the extension and determine the amount needed in the bank.

FYI it is 3 months in the bank according to the rules not 90 days.

[mrjohn]

1 hour ago, ubonjoe said:

Correct

But you also have to allow for exchange rate changes when you deposit the money. Immigration will calculate your income based upon the exchange rate on the date you apply for the extension and determine the amount needed in the bank.

FYI it is 3 months in the bank according to the rules not 90 days.

Thanks for that.

So how do you calculate 3 months exactly?

 

For example, if I want to go for an extension on January 15 would that mean that the money would need to be in the bank before October 15?

In that instance it would be 92 days.

Sorry to be picky but I was going to move the money over next week but it might be better to do it before the end of this week.

[Jingthing]

The seasoning is about 90 days before the application, not 90 days before expiration of the current permission to stay. Most applicants do come in well before the last minute, as well they should. 

[ubonjoe]

15 minutes ago, mrjohn said:

For example, if I want to go for an extension on January 15 would that mean that the money would need to be in the bank before October 15? In that instance it would be 92 days.

That is how they do it which is easier than counting up 90 days. Your example is why I correct people when they say 90 days.

I am just stating what the police order says.