800K in a Thai Bank - Going Away?

[D3030]

I just read a few recent post of the 400K or 800K for one year extensions.  What it sounds like, with the Embassies no longer issuing income affidavits, and  those using income of at least 65K a month method, will eventually have to deposit those funds in a Thai bank as well. 

 

So, that pretty much removes the requirement of having 800K in a Thai bank, but of course you need to deposite at least 65K in a Thai bank every month.

 

I've been inquiring with visa companies on their current procedures for one year extensions for individuals that need a one year extension this month.  After explaining to them I missed getting an income affidavit and don't have a Thai bank account.  The only proof I have of making at least 65K a month, is with U.S. bank statements.

 

Some visa companies quoted one year extensions for around 25K to extend my OA visa, which apparently they have some way to cover proof of income using their money (what they said). Then one company literally said, deposit 65K in a Thai bank and they can get a one year extension for fee of around 8K.

 

So, all I can conclude is, once the rumor of depositing 65K in a Thai bank for one year extensions comes official, common sense dictates 65K will be mandatory, 800K optional.  "This is a person not married to a Thai scenario."

 

Of I could be totally wrong..  LOL.. ????

[ubonjoe]

Everything I have heard or read still states that the 800k or 400k baht in the bank and the combination option (only for retirement) will still be allowed.

It will still be income or money in the bank or a combination of the two.

[DrJack54]

OP I have read your post few times. Not sure your exact situation. You O-A has life span of about 2 yrs. Sounds like your moving to non o based on retirement. If that's the case, I would stick 800k in Thai bank and skip income or combo method. Just makes it very simple until the details of future proof of income is settled. Keep in mind as soon as you extend for 12 months you can live in Los using the 800k and then top up prior to next extension. Just a suggestion.

[Suradit69]

17 hours ago, DrJack54 said:

You O-A has life span of about 2 yrs.

The O-A has a life span of one year from the date it is issued.

 

You can manage to obtain permissions to stay good for a period of nearly two years, but  the permission to stay  is your legal basis for being in Thailand, not the O-A visa. And once the visa expires, if you plan to travel out of Thailand and return, you need a re-entry permit or the permission to stay will end since in that case you would have neither a valid visa nor a re-entry permit.

 

Saying the O-A has a life span of about 2 years is misleading and, as many posters have discovered to their cost, visas and permissions to stay are two entirely different things.

[Sheryl]

I don't understand what you mean by "65K will be mandatory, 800K optional". ??

 

Both methods are optional but you have to chose one of them or a combo of the two.

[xylophone]

19 hours ago, ubonjoe said:

Everything I have heard or read still states that the 800k or 400k baht in the bank and the combination option (only for retirement) will still be allowed.

It will still be income or money in the bank or a combination of the two.

Help again please: any income method still needs the embassy letter to confirm this income, does it not; whereas the lump sum is a given provided the 2 or 3 months seasoning takes place.

 

The many posts are confusing to say the least.

[ubonjoe]

32 minutes ago, xylophone said:

Help again please: any income method still needs the embassy letter to confirm this income, does it not; whereas the lump sum is a given provided the 2 or 3 months seasoning takes place.

Under the expected new rules the embassy letter is not mandatory. Transfering 40k baht or 65k baht into a Thai bank will also be accepted instead of one.

 

[superal]

32 minutes ago, xylophone said:

Help again please: any income method still needs the embassy letter to confirm this income, does it not; whereas the lump sum is a given provided the 2 or 3 months seasoning takes place.

 

The many posts are confusing to say the least.

It really is totally confusing when you hear 1/ no affirmation letters so proof of income does not qualify and then we hear that someone has done just that at some I.O.  2/ no combination of bank money / monthly income can qualify , only seasoned bank deposited money in a Thai account .  Now I believe that this applies to a non o visa .

A non oa visa is permitted to use the combination method and also the bank money does not have to be in a Thai bank . Application from your home country to the Thai Embassy ?

 

[fredge45]

18 hours ago, DrJack54 said:

OP I have read your post few times. Not sure your exact situation. You O-A has life span of about 2 yrs. Sounds like your moving to non o based on retirement. If that's the case, I would stick 800k in Thai bank and skip income or combo method. Just makes it very simple until the details of future proof of income is settled. Keep in mind as soon as you extend for 12 months you can live in Los using the 800k and then top up prior to next extension. Just a suggestion.

So simple, so obvious, but why can't folks get their heads around this and see the light.  Been doing this for 16+ years now with never a hassle,  If you don't have the cash then shame on you for not planning your retirement a long time ago.

[BritManToo]

2 minutes ago, fredge45 said:

shame on you for not planning your retirement a long time ago.

I planned my retirement a long time ago, my mistake was not planning my divorce.

A popular mistake if ever there was one.

Edited January 5, 2019 by BritManToo

[stropper]

25 minutes ago, fredge45 said:

So simple, so obvious, but why can't folks get their heads around this and see the light.  Been doing this for 16+ years now with never a hassle,  If you don't have the cash then shame on you for not planning your retirement a long time ago.

absolutely correct !

[natway09]

BritMantoo,,,,, So you planned...... to bring the old missus here with you.

I get a bit mad at foreigners complaining about having to prove monies for Immigration

If you don't have or won't put 800,000 Bht into a Thai interest bearing, very safe bank A/C

maybe you should just stay in your old home

Have a look at many other countries requirements & weep

[jacko45k]

5 minutes ago, natway09 said:

maybe you should just stay in your old home

She got that too!

[Odin Norway]

I can surely understand that its a hard thing to just put 800k in the bank for quite many people. Even in a full-time job, it is not

something I would like, without a fight.

[BritManToo]

28 minutes ago, natway09 said:

BritMantoo,,,,, So you planned...... to bring the old missus here with you.

I get a bit mad at foreigners complaining about having to prove monies for Immigration

If you don't have or won't put 800,000 Bht into a Thai interest bearing, very safe bank A/C

maybe you should just stay in your old home

Have a look at many other countries requirements & weep

I planned living in the UK with my English wife until I died.

There may be many people who think it's a great idea to stick 20,000GBP ($25,000) in a 3rd world bank, but I ain't one of them.

10 Years back I didn't need any money for a 1 year Thai VISA, I just needed the 120GBP for an 'over 50s' VISA

 

This year you need 800k in a Thai bank

What about next year, when they decide you need 2M baht in the bank? and a 200,000bht health insurance policy? 

And the year after when they want 5M baht?

[david555]

15 minutes ago, BritManToo said:

I planned living in the UK with my English wife until I died.

There may be many people who think it's a great idea to stick 20,000GBP ($25,000) in a 3rd world bank, but I ain't one of them.

10 Years back I didn't need any money for a 1 year Thai VISA, I just needed the 120GBP for an 'over 50s' VISA

 

This year you need 800k in a Thai bank

What about next year, when they decide you need 2M baht in the bank? and a 200,000bht health insurance policy? 

And the year after when they want 5M baht?

let me scaremonger a bit more : What if the U.K. in urgent need for pound money decide only to pay pensions to those living in the U.K. 

[Caine]

1 hour ago, fredge45 said:

So simple, so obvious, but why can't folks get their heads around this and see the light.  Been doing this for 16+ years now with never a hassle,  If you don't have the cash then shame on you for not planning your retirement a long time ago.

Hope you’ve planned for your retirement correctly, with good health insurance. Because you may become an age when no one will insure you and if YOU don’t have the cash you can be wiped out in a couple of months. But being the braggard you are you will probably scurry back to your home country to sponge of them.

[DrJack54]

1 hour ago, fredge45 said:

So simple, so obvious, but why can't folks get their heads around this and see the light.  Been doing this for 16+ years now with never a hassle,  If you don't have the cash then shame on you for not planning your retirement a long time ago.

I will get hammered for this....I post this not as a boast. Fact is, a lot of farang retire los with s*** load. Apart from all my properties in au, I have super fund maybe shy of 1million aud. BTW that would be regarded normal amount for 65yr old au. In the last month I have "lost" about 35k aud as au stocks have dived. Not even to mention exchange rate predictions for 2019.

I have to read all the rubbish over so many threads about such a penalty of maintaining 800k baht for 3 months. On the back of historically LOW interest rates. Geezus

[fforest1]

34 minutes ago, BritManToo said:

I planned living in the UK with my English wife until I died.

There may be many people who think it's a great idea to stick 20,000GBP ($25,000) in a 3rd world bank, but I ain't one of them.

10 Years back I didn't need any money for a 1 year Thai VISA, I just needed the 120GBP for an 'over 50s' VISA

 

This year you need 800k in a Thai bank

What about next year, when they decide you need 2M baht in the bank? and a 200,000bht health insurance policy? 

And the year after when they want 5M baht?

Yes we will all have a good laugh at the condescending 800k-ers when THEY get their goal posts moved...I know I sure will... 

[DrJack54]

5 minutes ago, Caine said:

Hope you’ve planned for your retirement correctly, with good health insurance. Because you may become an age when no one will insure you and if YOU don’t have the cash you can be wiped out in a couple of months. But being the braggard you are you will probably scurry back to your home country to sponge of them.

For all you know that poster perhaps worked all life and paid taxes etc. So why you get on high horse. If I had serious health issue tomorrow, I would return to au. Country where I paid taxes all my life. And you sir, what is your plan

[ignis]

11 minutes ago, david555 said:

let me scaremonger a bit more : What if the U.K. in urgent need for pound money decide only to pay pensions to those living in the U.K. 

maybe lots will return to UK, so they will have to pay extra pension [we are on frozen pension here] maybe housing, heating winter payments, Free health care, for some of us that would be a lot per month, home help/nursing, bus pass etc... is TV Licensing free for the over 70's ?

[BritManToo]

4 minutes ago, DrJack54 said:

If I had serious health issue tomorrow, I would return to au

I'd jump off a balcony, I don't want to be one of the chronically ill, living a worthless life.

[david555]

5 minutes ago, ignis said:

maybe lots will return to UK, so they will have to pay extra pension [we are on frozen pension here] maybe housing, heating winter payments, Free health care, for some of us that would be a lot per month, home help/nursing, bus pass etc... is TV Licensing free for the over 70's ?

I was just putting extra on his scaremongering list , as Thailand has the policy to grandfathering existing money in bank rules for retirees ,if continued year by year , 200 000 and 500 000 are the older ones ????, so do not think they are (complete) inhumane  ????

Edited January 5, 2019 by david555

[BritManToo]

26 minutes ago, david555 said:

let me scaremonger a bit more : What if the U.K. in urgent need for pound money decide only to pay pensions to those living in the U.K. 

It's not that big a problem, I can return with my 7-year-old son and claim loads of benefits, including free housing.

First in line for everything as a single dad.

[david555]

2 minutes ago, BritManToo said:

It's not that big a problem, I can return with my 7-year-old son and claim loads of benefits, including free housing.

First in line for everything as a single dad.

was just filling up your list , look above this my  post ????

Edited January 5, 2019 by david555

[fforest1]

2 minutes ago, david555 said:

I was just putting extra on his scaremongering list , as Thailand has the policy to grandfathering existing money in bank rules if continued year by year , 200 000 and 500 000 are the older ones ????, so do not think they are (complete) inhumane  ????

Nothing is set in stone maybe they will grandfather maybe they wont...

[BritManToo]

16 minutes ago, david555 said:

was just filling up your list , look above this my  post 

I don't have a VISA that requires any money in any bank, but I have sympathy for those that do.

The guys that want to judge what other people should have to live here are real nasty bits of work.

Let's hope the Thais don't start deporting guys for being rude.

Edited January 5, 2019 by BritManToo
typo

[jacko45k]

31 minutes ago, david555 said:

Let me scaremonger a bit more : What if the U.K. in urgent need for pound money decide only to pay pensions to those living in the U.K.

Weak... with a no deal Brexit Sterling falls to near zero levels! 

[david555]

1 minute ago, fforest1 said:

Nothing is set in stone maybe they will grandfather maybe they wont...

They set it in stone already 2 times so a little bit trust is in it ….and a 25 % more could be handled easy , and it is anyway your money available to use  at 9 months ...

[stropper]

33 minutes ago, david555 said:

let me scaremonger a bit more : What if the U.K. in urgent need for pound money decide only to pay pensions to those living in the U.K. 

outstanding,