CONFIRMED: Here is exactly what’s needed for retirement & marriage extensions (income method) from 2019

[jacko45k]

9 hours ago, Mango Bob said:

My American Bank Statement shows the money was paid to Transwise and was deposited in my Bangkok Bank Account, Bank Code FTT.  I received a SMS that Bangkok Bank received an international transfer of $_____ on such and such a date.   My money was sent from an American Bank and put in a Thai Bank to me that is an international transfer.

Not quite, your American Bank shows it was paid to Transferwise. Full stop. It did not show it was deposited in your Bangkok Bank account.

Your Bangkok Bank account showed that the money arrived as a FTT, and Bangkok Bank sent an SMS to you confirming it received an International Transfer. 

The link between these two events can only be confirmed by Transferwise as the go between. 

I am guessing this single event would be a partial qualifier for an Extension, but, if you repeat it, Transferwise may just decide they have a chunk of Baht in another Thai account, like Kasikorn, and send you some of that, which would appear as a domestic transfer. That rightly concerns some.

[Mango Bob]

8 hours ago, farangx said:

And what if you transfer the money by Transferwise converted from USD to Thai baht into your Thai bank here.  Will it still be an international transfer?

 

Of course, it is an international transfer.  As long as the money comes from my bank in American into my bank in Thailand.   You people read to much into this stuff.    

Edited January 15, 2019 by Mango Bob

[JLCrab]

13 hours ago, Mango Bob said:

 My money was sent from an American Bank and put in a Thai Bank to me that is an international transfer.

Well I'm not so savvy as some on this but, it seems to me, what it seems to you is not the issue.

[JackThompson]

12 hours ago, DrJack54 said:

You members really think they are looking for codes as to where funds come from etc. If it was so important why did they previously accept nonsense SD income letters from embassies. News flash...they don't give a flying f. All take a chill pill. All will be fine. Threads running about codes for transfers, etc etc. 

Geezus. If your using monthly income method (most least cost effective) ...just continue. Show 65k+ deposit every month your done. Forget codes. 

Before, they looked at an "embassy letter" stating "foreign income" as the primary document (because they were told to).

 

Now, they will look at a specific type of "bank letter" showing "foreign transfers" as the primary document (because they have been told to).

The discussion is on what types of transfers will show up on that "bank letter."
Whether a transfer is coded as "international" could make all the difference - determining if it appears on the bank's letter, or not.

[jacko45k]

There is all this talk of Transferwise and Bangkok Bank and Kasikorn etc and whether it will work to demonstrate money from overseas into a Thai account for income proof when getting a retirement extension. So I decided to give it a try and opened an account and sent some GBP from my account offshore UK via Transferwise and receive THB..

It just landed in my Bangkok Bank savings account, no mention whatsoever of it coming from 'overseas'. It actually stated Interbank Transfer via SMART. On internet banking no further details. Fortunately I am not in need of proof of income, but this might be a problem for some who simply have a monthly pension being paid in the UK and shift it the same way.

 

Wasn't a big deal better on rate either, although saved the usual 500 baht charge.

Edited January 15, 2019 by jacko45k

[Mapguy]

Check your passbook next time you update for the code.

[luckyluke]

Would a reference eventually be helpful 

 

Ex : " U.K. Transfer "

 

https://transferwise.com/help/questions/2448511/do-i-need-to-enter-a-reference

 

 

[punworthy]

Since I can no longer get an income letter from the US Embassy, then what kind of bank statement is required at the bank to comply with the monthly income method? I transfered >65,000 baht this month thru the Bangkok Bank ACH system from my US account and it says "FTT" on my bankbook and online it says "Foreign Transfer."  I will do this every month until my next application in December. I have read I have to get a 12-month annual statement and produce a letter from the bank confirming this.

 

But Bangkok Bank has said they can only produce a 6-month history, not 12 months. It says this online, too.

 

I went to the Silom head office and got this information from several staff. What kind of statement is this called? Dreading a trip to LakSi just to ask this, just not getting an understanding at some branches. There's a Bangkok Bank down the stairs at immigration. Surely they would know. Any info helpful. 

[JLCrab]

[farangx]

2 hours ago, jacko45k said:

It just landed in my Bangkok Bank savings account, no mention whatsoever of it coming from 'overseas'. It actually stated Interbank Transfer via SMART. On internet banking no further details.

That would be the local retail funds transfer system.

 

[elviajero]

1 hour ago, punworthy said:

Since I can no longer get an income letter from the US Embassy, then what kind of bank statement is required at the bank to comply with the monthly income method? I transfered >65,000 baht this month thru the Bangkok Bank ACH system from my US account and it says "FTT" on my bankbook and online it says "Foreign Transfer."  I will do this every month until my next application in December. I have read I have to get a 12-month annual statement and produce a letter from the bank confirming this.

 

But Bangkok Bank has said they can only produce a 6-month history, not 12 months. It says this online, too.

 

I went to the Silom head office and got this information from several staff. What kind of statement is this called? Dreading a trip to LakSi just to ask this, just not getting an understanding at some branches. There's a Bangkok Bank down the stairs at immigration. Surely they would know. Any info helpful. 

You only need to provide your bank passbook showing receipt of your transfers, and a letter from the bank confirming the number of foreign transfers and amount.

[Mango Bob]

1 hour ago, punworthy said:

Since I can no longer get an income letter from the US Embassy, then what kind of bank statement is required at the bank to comply with the monthly income method? I transfered >65,000 baht this month thru the Bangkok Bank ACH system from my US account and it says "FTT" on my bankbook and online it says "Foreign Transfer."  I will do this every month until my next application in December. I have read I have to get a 12-month annual statement and produce a letter from the bank confirming this.

 

But Bangkok Bank has said they can only produce a 6-month history, not 12 months. It says this online, too.

 

I went to the Silom head office and got this information from several staff. What kind of statement is this called? Dreading a trip to LakSi just to ask this, just not getting an understanding at some branches. There's a Bangkok Bank down the stairs at immigration. Surely they would know. Any info helpful. 

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

 

Read this fro Bangkok Bank:

 

EXPAND ALL

 

PRINT 

Advice to senders using US bank internet banking services

If you have a U.S. bank account, you can conveniently transfer funds to a recipient's bank account at Bangkok Bank in Thailand via the internet by completing the steps described below for an international ACH transaction (IAT). International ACH payments are processed in accordance with operating rules and formats developed by the Electronic Payments Association (NACHA).

The IAT is a special code (a Standard Entry Class or “SEC” Code) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to perform screening to ensure compliance with Office of Foreign Assets Control (OFAC, U.S. Department of the Treasury) requirements.  The NACHA  rules require Bangkok Bank’s New York Branch which serves as intermediary, to ensure that payments that are transmitted to account of beneficiary in other country are appropriately classified as IATs and contain information as described below.

 

Bangkok Bank, New York Branch, is required to receive the ACH transactions in the required IAT format.  This means that we must require that senders who wish to transmit funds to recipients at Bangkok Bank in Thailand to provide certain identifying information.

 

Instructions

To initiate a such an international transaction , using internet banking when you log on to your bank in U.S. website, please select the International ACH and provide the following information to your bank:

Your name and physical address in Thailand

Your bank account number and the name and address of your Bangkok Bank Branch in Thailand

The 9-digit routing number 026008691 of Bangkok Bank New York Branch, which acts as intermediary in the transaction. 

 

Important Note: 

As some bank in U.S. may not provide the International ACH thorough their internet banking, please contact your bank on how to process your transfer.

Once Bangkok Bank’s New York branch receives the payment with the appropriate IAT format, they will process your payment to Bangkok Bank in Thailand for further credit to a recipient's bank account at Bangkok Bank in Thailand.

With effective from April 1, 2019, New York branch only process ACH with appropriate IAT format and all non-IAT transactions will be returned.       

Bangkok Bank in Thailand will be able to credit the recipient’s account in Thailand only when the name and account number of the recipient in your transfer instruction from the banks in the U.S. matches the recipient’s name and account number at Bangkok Bank.
 

If you wish to inquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or e-mail [email protected]

[Thaidream]

7 minutes ago, Mango Bob said:

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

All Banks Worldwide will still do a SWIFT Transfer which will show up on your Thai Bank account as an international transfer. However, it costs more- 

[gk10002000]

On 1/12/2019 at 12:09 PM, farangx said:

There is no denying that this retirement extension is simple and cheap. While one can choose the 800K method, for those who are unwilling or unable to put this money into your savings account here for 3 months, the income method is a simple option.  Tied to monthly costs of living, this money transferred from overseas monthly is all yours for you to keep or spend or not.  Very few countries like Thailand let a foreigner to just retire in the country without a proper visa like a PR.  All these for a few hundred bucks a year, why make it so hard?

 

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

[jacko45k]

48 minutes ago, gk10002000 said:

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

You may as well ask why their Embassies make it so hard by refusing to issue any more verification letters. TI are making it easier by giving them an alternative method.

You say foreign bank accounts, surely you mean local ones.

Edited January 16, 2019 by jacko45k

[JLCrab]

1 hour ago, gk10002000 said:

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

Especially if one spends time in the USA you can get an O-A visa in USA no Thai bank account required and no monthly transfers.

Edited January 16, 2019 by JLCrab

[punworthy]

15 hours ago, Mango Bob said:

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

Checked my bank and you are right. So, am resuming my Direct Deposit SSA payments with Bangkok Bank and will do a monthly/combination method. I knew nothing about the IAT format and this was extremely helpful. Also, using my passbook as "evidence" with a confirmation letter seems to be correct. Thanks for all the help.

[farangx]

2 hours ago, gk10002000 said:

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

TI is only asking for income statements that you have in the past.  Money that you already spent NOT money that you have to spend.  Neither are they asking you to pre-fund your bank account for the next 12 months.  How can this be hard?

 

You only need to have a bank account in Thailand. If you don't have one already then get one.  TI never force you to open a foreign bank account.  You are not suppose to open a bank account every month or every year.  So, why make it so hard on yourself?

 

Edited January 16, 2019 by farangx

[farangx]

1 hour ago, JLCrab said:

Especially if one spends time in the USA you can get an O-A visa in USA no Thai bank account required and no monthly transfers.

One O-A visa to save the costs of 24 monthly transfers, which more than pay for the costs of that visa.

 

[sumrit]

13 minutes ago, farangx said:

TI is only asking for income statements that you have in the past.  Money that you already spent NOT money that you have to spend.  Neither are they asking you to pre-fund your bank account for the next 12 months.  How can this be hard?

 

Not entirely accurate. It's NOT money you have already spent, it's a minimum amount of money you have been forced to transfer into a Thai Bank from overseas every month, whether you actually need the money in Thailand or not. 

[scubascuba3]

All Banks Worldwide will still do a SWIFT Transfer which will show up on your Thai Bank account as an international transfer. However, it costs more- 

Using swifts for me would cost an extra 17k baht a year, might as well use Transferwise and have 17k in the bank for "tips" if required

 

[watso63]

On 1/14/2019 at 4:17 PM, likerdup1 said:

This is confusing. Deposited here in Thailand? No!! Deposited TO a bank in Thailand FROM outside of Thailand, presumably overseas (as stated in the police order)

Precisely, income for a retirement extension has to be deposited from overseas. Employment within Thailand is strictly prohibited. I guess some foreign people have a problem understanding and/or following the rules. Maybe there are a couple of investors that play the SETV and receive dividends but judging by the response of the moaning minnies that can't, won't or don't want to trust a Thai bank with their money then enjoy wasting it on an agent and hope that dodgy visa you get with the one day 800,000 baht deposit isn't checked by a competent police officer. 

 

I have a Bangkok Bank FCD Account. Costs me nothing to transfer money into from my UK Barclays Bank account. A 0.5% transfer fee charge is payable to the Bangkok Bank (200 baht minimum, 500 baht maximum) and the funds sit in GBP until I transfer it into baht. The bank uses the Buying TT Rate which is very competetive. I've compared this method with a friend that uses Transferwise and it wins everytime (about 40 satang to the £ loss). Another advantage is this account can be used for the seasoning method.

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

[Thaidream]

1 minute ago, scubascuba3 said:

Using swifts would cost an extra 17k baht a year, might as well use Transferwise and have 17k in the bank for "tips" if required

Unfortunately Transferwise shows as a domestic transfer. If Thai Imm accepts transferwise- why can't I use my ATM card and pull the 65K from a Thai ATM and put that into a Thai Bank.  Money was generated overseas.

[rlellis]

FIRST IMMIGRATION ISSUE

A the Chiang Mai Immigration visit Jan 16th I found that I cannot stay in Thailand if I do not Have 400,000 baht in a Thai bank.

Law changed December 26^th, 2018 – since foreigner cannot get an embassy letter from their home country they must now have 400,000 baht in an account for at least 2 months prior to application for a marriage visa extension.

Prior to this I just needed the embassy letter plus proof that I made over 400,000 annually.

1) Since the USA Embassy no longer provides a verification of income AND

2) I have enough retirement Social Security income that has always been used to offset the need for 400,000 in a Thai bank account BUT

3) I do not have money in an account in Thailand I NOW

4) Cannot stay in Thailand.

This is after I have been using my retirement income statement and Embassy letter for over 10 years

 

What happened?

• I was refused a marriage visa extension because I do NOT have 400,000 in an account in Thailand AND I do not have embassy letter

• They said they will give me a two month visit family visa so I can put money into an account NOW so I will have had it for 2 months when marriage vise is renewed.

I have the income required. I do not have 400,000 in the bank.

What have I done in Thailand?

• ·         I have (in my wife name) land and several business' including a farm.

• ·         I have invested heavily in helping the Thai locals and compassion work

• ·         I have given every family in our area that wanted to start a family farm a free breeding gilt

• ·         I have supported all village children days, elder day and all other events

• ·         I have provide money to all village projects

• ·         I have taught village families how to do pig farming with no smell so they are approved in the village

• ·         I have helped families start their own businesses

• ·         I have provided income to elders who do not have enough money to live

• ·         I have invested millions of baht to help Thai families.

• ·         I have invested millions of baht to help my own family

• ·         I have helped the Thai government develop new pedigree line of swine

I HAVE HAD ENOUGH OF THE THAI IMMIGRATING WANTING MY MONEY AND HATING ME.

Now I have been pushed over the edge by the crazy actions of an immigration department that cannot understand what they are doing to the very people that bringing wealth and happiness into the homes of Thai people.

I will now leave this country. I am not moving money into an account in Thailand. I have proof of income from the Social Security Government of the USA, I have the required monthly income. NOT ENOUGHT IMMIGRATIONS NOW SAID, I need to move my money to Thailand (400,000 for married visa).

SECOND IMMIGRATION ISSUE YESTERDAY - MY WIFE DID NOT REPORT TO IMMIGRATION THAT I WALKED INTO MYANMAR FOR A SEVERAL HOUR VISIT. THAI GOVERNMENT FINED MY WIFE 1,600 BAHT ($50.17 DOLLARS USD)

IMMIGRATION RULE: The Thai rule is that when I leave the country, or stay in a hotel, MY WIFE needs to report to the Thai government that I am back in my home.

Thailand: where do I stay? The Thai Government wants to know where I live. To keep them up-to-date I provide the following eight verification to the government.

 I TELL THE THAI GOVERNMENT WHERE I LIVE (9 DIFFERENT PLACES) AND MY WIFE GETS A FINE FOR NOT TELLING THEM

1. 1. I fill out Thai Immigration entry card with address where I stay

2. Thai Annual Marriage Visa: Every year I have filled out the marriage visa application with the Thai government verification of where I stay. The government visa process verifies my address.

3. Thai 90 Day Reporting: Every 90 days I fill out a form and submit to government where I stay

4. Thai Vehicle Driver’s License: Obtained vehicle driver’s license with my address

5. Thai Scooter Driver’s License: Obtained scooter driver’s license with my address

6. Thai Tambon ID Card: Tambon Issued Thai Tambon ID Card with my address

7. Yellow (designates foreigner) Thai House Book: I have my own Thai Issued House Book in my name and address for my home

8. Thai Land Office: For my wife and my home: I have signed papers with the land office. They will question my wife if she try to sell the land of my address without my consent. 

9. The local Thai Police Department: The Thai police when learning I was in the village came and interviewed me and my wife and recorded the address where I was living here.

Situation: I went to Mae Sot, Thailand, and got a day permit to visit friend in Myawaddy. I did not stay overnight. On return into Mae Sot I filled out the Thai Immigration Entry Card (1 in list). My wife did not tell the government I was back in my home.

Problem: Today my wife and I went in for our annual marriage visa. The person (my wife) where I live (at my home) was fined 1,600 baht because she did not tell Thai Immigration where I live after I return from Myanmar into Mae Sot, Thailand

Issue: I have filled out 9 documents (verified) about where I live and have given that address on my entry into Thailand and have verified that address every 90 days. On return from Mae Sot I filled a Thai entry card with my address. Why would the Thai Government fine my wife 1,600 baht because she did not tell them where I live (her/our house) when I returned for a short day trip into Myanmar? WHY do I need to report that I live in my home every time I leave the country or stay in a hotel?

 

EVERY ISSUE THE THAI IMMIGRATION APPLIES TO FOREIGNERS IS ONLY DONE TO PUT MONEY INTO THAILAND. IMMIGRATION DOES NOT CARE WHAT WE DO FOR THAILAND OR HOW MUCH WE INVEST INTO THEIR PEOPLE AND CULTURE.

I am pissed at being pissed on, time to leave this country.

Randy

 

[Olmate]

18 minutes ago, scubascuba3 said:

Using swifts for me would cost an extra 17k baht a year, might as well use Transferwise and have 17k in the bank for "tips" if required

 

You will need to ,tip, if TI reject the TW incorrectly coded entries

[scubascuba3]

Unfortunately Transferwise shows as a domestic transfer. If Thai Imm accepts transferwise- why can't I use my ATM card and pull the 65K from a Thai ATM and put that into a Thai Bank.  Money was generated overseas.

Transferwise payments are a mix of Intl and domestic. Someone should try 12 ATM withdrawals and proof being your farang bank statement showing withdrawals

[scubascuba3]

You will need to ,tip, if TI reject the TW incorrectly coded entries

If less than 17k its still in profit

[JLCrab]

20 minutes ago, rlellis said:

Law changed December 26^th, 2018 – since foreigner cannot get an embassy letter from their home country

Yes and from the US Embassy Bangkok's OCT 26, 2018 announcement of no more income affidavits, one was able to secure an affidavit from the Embassy or CM Consulate through the end of the year 2018 for extension via income use during the first 6 months of 2019.

 

Where were you?

Edited January 16, 2019 by JLCrab
'via' not 'visa'

[JackThompson]

2 hours ago, jacko45k said:

You may as well ask why their Embassies make it so hard by refusing to issue any more verification letters. TI are making it easier by giving them an alternative method.

You say foreign bank accounts, surely you mean local ones.

You may ask why Thailand told the embassies their letters which had been fine for decades were suddenly not "good enough" any more.  But this is all water under the bridge now. 

If one cannot get an embassy letter and wishes to get a retirement-extension based on income, then there are just a few options.  Get a Non-OA (fly to one's passport country to deliver paperwork) - OR - arrange minimum monthly transfers into a Thai bank that show as "international transfers" in one's bank-statement - OR - pay an agent.

 

8 minutes ago, scubascuba3 said:

16 minutes ago, Olmate said:

You will need to ,tip, if TI reject the TW incorrectly coded entries

If less than 17k its still in profit

Might as well skip the whole thing and use an agent for 13K, if one is going to have to bribe one's way into an extension, anyway.   At least with the agent, you have some plausible deniability about any illegal-bribe activity.

[taiping]

Other TV posts say that TransferWise use 3 local banks, namely Bangkok Bank, Thai Military Bank (TMB), and Kasikorn Bank. I made a test transfer using TransferWise to my Bangkok Bank savings account. The online Statement says "International Transfer." I don't know yet what the passbook will say.