Just Received Some Bad News For US Citizens. No More Income Affidavits.

[Suradit69]

13 minutes ago, thailand49 said:

Would the length of obtaining an affidavit be enough of a insurance for the Thai that it has truly been verified!  Something just smells to me here but I wouldn't put it past them since the way they think here is just plain backward and that is truly being kind.

I don't see anything backward in having a minimum income requirement to stay here long term and some proof being required for what you claim that income is.

 

As far as something being "truly verified," I think we've established that no embassy can or ever has actually verified income. Maybe in some countries if you get a single source government pension they could, but that is something the US Embassy cannot do even for Social Security let along the myriad other sources of retirement income.

 

Implying that Thais are backward for recognizing that some people have been getting some sort of income letter from their embassies that has been fraudulent. is just childish name-calling.  The embassies are admitting they can't verify income and Thai immigrations is seeking a way to see who really has the money and who does not.

[pookiki]

21 minutes ago, ubonjoe said:

The combination option is available at every immigration office since it is written in the police order.

Ubonjoe - Isn't it still an issue as to what documents the Thai immigration will find acceptable to verify income once the letters from the embassies are no longer accepted?

[blackhorse]

Ubonjoe - Isn't it still an issue as to what documents the Thai immigration will find acceptable to verify income once the letters from the embassies are no longer accepted?

Why are the letters no longer accepted? No mention of this anywhere.

[zydeco]

Another problem is simply getting the funds from SS and other sources into your Thai Bank Account.  SS only uses Bangkok Bank.  And when I went into Bangkok Bank last week, I was given a notice to inform all sending "government agencies" or "private organizations" of a change from ACH to International ACH (IAT).  I sent a copy to SS in the Philippines and they didn't know what to do with it.  Hadn't heard of the problem. Said they would contact Baltimore.  So, there are problems with direct deposit of Social Security as of 1 April 2019 if this isn't resolved. Same for my Bank of America account and transferring funds from it, I assume. Will try to contact them next week.  (Don't want to be on the phone all night for Friday when the stock market is crashing.)

[elviajero]

59 minutes ago, RCS said:

I have never understood why a single guy living here in retirement needs more income than someone supporting a Thai wife (and family).   In my experience it is just the opposite. 

The 65K/800K requirement is higher than needed to live on and is simply set at the level to control numbers. The lower the number the more expats they get.

 

The requirement for a spouse/parent is lower and more realistic as they have a reason/need to be in the country to visit/stay with their family.

[garyk]

Kinda of curious do any of you guys use Schwab to transfer money into Thailand banks?

 

I just checked my Schwab account for a wire transfer. It looks like you can transfer what ever amount you want with a wire transfer for 25 bucks. Into an international bank with no problem. 

Just a thought if that helps anyone.

Edited October 26, 2018 by garyk

[ubonjoe]

14 minutes ago, thailand49 said:

As I noted he has been doing the extension for 17 years but married 16 years with a bunch of kids. He keeps a small account with a bit over 400,000 for emergency whenever he visits States comes back with close to 10,000 USD so his mattress is stuffed right next to his 9mm. I guess it is the extra 30 days for the final approval. If his Retirement extension expires let say 28th of the month and he has to wait beyond the expiration of the 28th, would there be a problem?

I assume you mean the under consideration period after the extension application is accepted. The under consideration stamp allows a person to stay until the extension application is approved. The 30 days on the stamp is a report back date not the date they have to leave the country.

There would be no overstay.

[pookiki]

5 minutes ago, blackhorse said:

6 minutes ago, pookiki said:

Ubonjoe - Isn't it still an issue as to what documents the Thai immigration will find acceptable to verify income once the letters from the embassies are no longer accepted?

Why are the letters no longer accepted? No mention of this anywhere.

Sorry, meant to say no longer issued.

[elviajero]

1 hour ago, Sheryl said:

1 hour ago, RCS said:

I have never understood why a single guy living here in retirement needs more income than someone supporting a Thai wife (and family).   In my experience it is just the opposite. 

They make allowance for the possibility that the wife contributes something. Or that the couple may live rent free in a home owned by her/her family.

 

And in some cases, this is so.

They don’t. The amount is set at an amount they consider a spouse/parent needs to fund their 1 year stay. It has nothing to do with supporting their wife/family.

[elviajero]

1 hour ago, marcusarelus said:

Source?

Of what?

[david555]

44 minutes ago, ubonjoe said:

The combination option is available at every immigration office since it is written in the police order.

But how they go calculate that as there the amounts short of the 800 000 can be different in any case....?And In the old system must only prove what is coming in in future as example pension , but now I understand the prove is what you bring in already , in X?  months

Edited October 26, 2018 by david555

[blackhorse]

Sorry, meant to say no longer issued.

USA q and a says bank book for 65k will be excepted so I guess they would know  

 

 

 

[Nowisee]

Two of the top reasons I moved to Thailand for retirement were:
1.  No taxing of my pension or other sources of income.
2.  Not requiring me to put money into a Thai bank.

IF they change either of these I have no desire to stay here, too man other desirable options.  

 

I have no interest in putting money in a thai bank.  65k each month is way more cash than  required for my monthly expenses.  
Currently I ATM in 25k about every 2 months for cash.  The rest of my costs I use a debit card no problem.   

 

If you are making a new Retirement Visa in home country, no requirement to put money into a thai bank.  A simple year end statement from a govt pension is sufficient.  

Do a border hop before it expires and presto you get another year. 

 

 

  



 

[elviajero]

1 hour ago, wgdanson said:

1 hour ago, elviajero said:

After January 1st the embassy letters are supposed to include the statement that the embassy have verified the income

After January 1st, there will be no more letters.

I was referring to letters obtained before January being accepted after January, which IMO is not certain.

[david555]

21 minutes ago, blinkers said:

Those with 800,000 in the bank shouldn't be too smug, the amount is quite likely to go up again.

I hope they don't do more than the double ….to keep me O.K. and have a happy mind ...☺️

[elviajero]

1 hour ago, gaviny said:

So if I was go the 800K way..can I just rock up to Immigration with my passbook showing the transfer from Oz or do I still need a letter from the bank and anything else ?

Sent from my Redmi Note 6 Pro using Thailand Forum - Thaivisa mobile app
 

You also need a letter from the Thai bank confirming the balance, and the money will have to have been in the account for 3 months (60 days if first extension) prior to the date you apply.

[RCS]

7 minutes ago, garyk said:

Kinda of curious do any of you guys use Schwab to transfer money into Thailand banks?

I use Schwab to transfer funds between banks in America but is it possible to transfer directly to a Thai bank?

I have a Schwab One account.  I can do an online transfer at around 21:00 Thai time and it is received in my SCB bank usually the next day... or at latest the following day.   I get the same results transferring to SCB from my HSBC account in Hong Kong.  You just have to register the account you are transferring to and after that it can be done online.  

[gunderhill]

2 minutes ago, david555 said:

I hope they don't do more than the double ….to keep me O.K. and have a happy mind ...☺️

They used to Grandfather in I believe but who knows?

[garyk]

10 minutes ago, RCS said:

I have a Schwab One account.  I can do an online transfer at around 21:00 Thai time and it is received in my SCB bank usually the next day... or at latest the following day.   I get the same results transferring to SCB from my HSBC account in Hong Kong.  You just have to register the account you are transferring to and after that it can be done online.  

Thanks for the reply.

Damn that is a free service!  

I use it all the time in America to transfer funds between banks.

That pretty much solves my problems if I decide to transfer funds here.

Thanks heaps!

 

A quick note. I am sure you know this but in Malaysia HSBC has an agreement with Schwab with no ATM fee's. Not that it matters but when I am in Malaysia I use HSBC to keep Schwab from having to re pay my ATM fee's.

Edited October 26, 2018 by garyk

[david555]

2 minutes ago, gunderhill said:

They used to Grandfather in I believe but who knows?

yes normally they do, did in past …. anyway the double I could still handle , but the original poster..29 minutes ago, blinkers said: .( Those with 800,000 in the bank shouldn't be too smug, the amount is quite likely to go up again.) to who I replied forget that than also the monthly income would be put up higher ????

[watgate]

I am only up to page 21 so if someone has already answered my question my apologies. Say,at some point I want to say adios to Thailand and want to withdraw my 800k thai baht to take back to the US. Can you convert the 800k  thai baht back to usd or will you be hard pressed to find an exchange place willing or able to convert that much thai baht into usd? If you have to take 800k thai baht back to the US does anyone know if you will take a big hit in the conversion from thai baht back to usd? I realize one can get a thai atm card which you can use to withdraw funds from your  thai bank acct while in another country so maybe that would be the rest way to go.  Any comments or info is appreciated.

[RCS]

4 minutes ago, garyk said:

Thanks for the reply.

Is that a wire transfer or a simple transfer from bank to bank?

I use the bank to bank in America all the time it is free and very handy. 

It is an international wire transfer.  It therefore requires more steps for the bank to follow in order to satisfy US anti-money laundering controls than a US bank to bank transfer. 

[garyk]

Just now, RCS said:

It is an international wire transfer.  It therefore requires more steps for the bank to follow in order to satisfy US anti-money laundering controls than a US bank to bank transfer. 

Ah, ok. I saw that on my Schwab site just now. There is a 25 dollar fee involved. 

Looks pretty simple to set up and send.

Regards

[david555]

3 minutes ago, watgate said:

I am only up to page 21 so if someone has already answered my question my apologies. Say,at some point I want to say adios to Thailand and want to withdraw my 800k thai baht to take back to the US. Can you convert the 800k  thai baht back to usd or will you be hard pressed to find an exchange place willing or able to convert that much thai baht into usd? If you have to take 800k thai baht back to the US does anyone know if you will take a big hit in the conversion from thai baht back to usd? I realize one can get a thai atm card which you can use to withdraw funds from your  thai bank acct while in another country so maybe that would be the rest way to go.  Any comments or info is appreciated.

that shall be the day by day exchange rate …. depending where you go to do.....example make test now on a exchange site

[Pib]

2 hours ago, giddyup said:

I have had the 800K in a short term deposit account for 9 years, it's never been touched, and I have never been asked to show any other means of income or prove what I actually live on, but I could if asked.

Basically ditto for me.  Over Bt800K in a high interest paying Thai bank account....I rarely withdraw any from year to year....just the monthly interest payments continuing to make the balance climb.  Never been asked at Bangkok immigration as to prove what money I use to live on....never been asked what there are not significant withdrawals like to live on.   Have used this method for 8 years....8 extensions of stay.

 

If ever asked regarding living expenses I would show U.S. credit card statements detailing dozens upon dozens of buys each month in Thai stores....monthly statements paid in full each month from U.S. bank accounts.  Show U.S. checking account statements reflecting Thai ATM and at-the-counter withdrawals with the source of funds from U.S. bank account. 

 

Plenty of ways of showing spending of all kinds of money in Thailand without needing to ever touch any money you have in Thai banks such as a Bt800K deposit for extension of stay purposes.  

[Will27]

1 hour ago, Russell17au said:

The thing is that with the Australian system it is easy to verify the pension income as it is a government pension whereas the British government pension is only a small pension so they must rely on a top up from a private pension fund which at a guess that might be the stumbling bloke on the verification but I cannot see why the USA cannot verify a persons Social Security pension because it is a government pension.

I'm pretty sure the Australian OAP barely meets the requirements of a marriage extension, so it's a moot point TBH.

[jesimps]

6 hours ago, Vacuum said:

We are talking about 800K, I still can't see the problom

The problem is that many are here using the perfectly legal monthly income method as per immigration rules and now have to change all their financial plans in order to put 800,000 in the bank. Easy for you and the rest of the well-off on here, not for the majority of people. Hate it when people make out that 20,000 UK pounds is a trivial amount, I can find the capital but not easily. Also have to take into account the weak pound at the moment and could get worse because of Brexit.

[Thaidream]

20 minutes ago, elviajero said:

I was referring to letters obtained before January being accepted after January, which IMO is not certain.

Letters issued in 2018 will be accepted for 6 months to date of application- confirmed by embassy and Thai Imm- per Embassy web site Many offices  allow 45 days in advance of extension end to apply for new extension.  This takes us to end of June 2019 and possibly a little longer. In the past the letter was also valid for 6 months.

[Sheryl]

1 minute ago, Pib said:

Basically ditto for me.  Over Bt800K in a high interest paying Thai bank account....I rarely withdraw any from year to year....just the monthly interest payments continuing to make the balance climb.  Never been asked at Bangkok immigration as to prove what money I use to live on....never been asked what there are not significant withdrawals like to live on.   Have used this method for 8 years....8 extensions of stay.

 

If ever asked regarding living expenses I would show U.S. credit card statements detailing dozens upon dozens of buys each month in Thai stores....monthly statements paid in full each month from U.S. bank accounts.  Show U.S. checking account statements reflecting Thai ATM and at-the-counter withdrawals with the source of funds from U.S. bank account. 

 

Plenty of ways of showing spending of all kinds of money in Thailand without needing to ever touch any money you have in Thai banks such as a Bt800K deposit for extension of stay purposes.  

Yes, there are, and best to have this available if needed. While it sounds like Bkk immigration never has, people in other locations have been asked to explain untouched 800K accounts. Not a problem as long as they had a credible answer. Lacking one could raise suspicions that you have an illegal income stream of some sort.

 

But I am curious as to why someone would want to keep the 800K untouched and use other monies in an overseas account for living expenses? Whatever you gain in interest with the 800K you likely loose from the overseas account.?

 

 

[smotherb]

2 hours ago, Russell17au said:

No, the point is that the Thai's have stated that they want verification of income, now if verification of income is supplied to them from the embassy they cannot then change there mind and say "No, we want the money in our banks"

Oh? I have not seen the official word from Thai immigration which caused the US and UK embassies to discontinue the income letters. Have you?

 

However, I have been told by Thai immigration that they wanted to see the B65k monthly filtered through a Thai bank.

 

In case you missed it, the US Mission in Thailand said it, " . . . cannot provide this verification and will no longer issue the affidavits."