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

[dickjones2018]

what stops one person, to now send 100k baht to his home country...

send back 65k each month (for the transfert code)

than re-send the money back to your home country, for the next month

 

will TI make a problem out of that ?

 

so in fact you need 65k baht + ridiculous bank fees (1000 baht at least to go out + 1000 baht to go in again)

 

so 65k baht +  12x2000 baht (bank transfer costs)

 

right

[luckyluke]

6 minutes ago, SheungWan said:

Then you don't comply.

It seems that some don't wish to follow the rules implemented by T.I.;

 

however expect the same result as the ones who are doing it.

 

Even some expect/assume that for them in particulary, a derogation should be evident.

[mogandave]

Yes, one of the results of this change will be less spending by UK, US, Australian, Danish expats. I know that I started pulling back my spending last November on new things I needed or appliances ready for replacement. Just because I don't know how this is going to shake out. TI might be successful at stuffing some more money into Thai banks, but they will curtail spending, now, as everyone either leaves Thailand, goes to 800K (meaning some will need to cut back spending to get to that amount and hold it for three months prior to extension renewal), or goes to combo (more saving for some; more dead money in the bank for period before renewal). They have shot themselves in the foot.

Yes, it would be terrible if people had to actually save a little money...

[thomasbkk]

My Embassy still provides income letters/affidavits. Is that sufficient prove of income for Thai Immigration? I have no monthly payments coming to my Thai Bank account.

[ubonjoe]

42 minutes ago, Srikcir said:

In regard to 2.22.4 (Retirement Document) Certification letter from the bank, what is the format and content required or acceptable?

In the past I have received a one-year printout of my savings account activity from the bank with a bank logo stamp on it - no bank signature nor any certification statement. However, I did receive a receipt for a bank fee for the printout that was initialed.

Obviously a statement printout and receipt are not a "letter."

Can Immigration provide a sample letter? It will be different than a bank letter certifying a Bt400k/800k balance. Or just give Immigration whatever a bank decides is sufficient?

It would be the same letter banks are doing for the money in the bank option. I will confirm your account is valid and etc.

Then you would need copies of your bank book pages show the funds coming in stamped by the bank if possible or a statement printed out by the bank.

[DPKANKAN]

17 hours ago, MikeOKitches said:

I got my income affidavit notarized by the US Embassy here in Bangkok on November 30, 2018. I was told by the US Embassy at the time that the letter (income affidavit) I executed (and they notarized) would be valid for 6 months from date of issuance. That would mean it's valid until May 31, 2018.  My Retirement Visa renewal is scheduled for March 31, 2019. I'm hearing conflicting reports from people who've been to different Thai Immigration centers. Some say they won't accept the US Embassy notarized Income Affidavit in 2019 at all. Is there any credible source that can definitely tell me if I can use my November 30, 2018 letter (income affidavit) in March 2019 when I renew my Retirement Visa? Or is just a waste of paper now? I was planning on renewing at Thai Immigration at Chaeng Watthana here in Bangkok.  

My friend just used his here in Kanchanaburi and I have got my Embassy letter for use in March too! As my private pension I only get every 3 months, therefore I only send it every 3 months or longer, as it is more than the minimum anyway!!

[ocddave]

2 minutes ago, mogandave said:

 

Yes, it would be terrible if people had to actually save a little money...

 

Especially when they came here to spend it...

Edited January 8, 2019 by ocddave

[Pib]

29 minutes ago, Acharn said:

At last. It is now a lot easier to make transfers from the U.S. to Thailand. I have reasons not to want to make direct deposit to the Bangkok Bank branch in New York, but wire transfers turn out to be much less expensive than I thought, and there are several companies called Automated Clearing Houses (ACH) that are quite cheap, but they take at least a day. One I've seen mentioned by another TV member is Transferwise. He said he had been using it for years and was quite happy with it. Google on "automated clearing houses." I learned about ACHs from my credit union in the States as a possible alternative to wire transfers. There are several such companies. My credit union has no provision for recurring transfers (I presume because of American laws and regulations to prevent money laundering), and I would have to telephone them every month to make the transfer. 

Only one bank in Thailand can receive ACH transfers and that's Bangkok Bank.  Additionally, effective 1 Apr 19 they will no longer accept an ACH transfer unless it's transmitted by the sending bank/CU/govt agency in ACH "International ACH Transaction" (IAT) format.   No US bank/CU/financial uses ACH IAT format for retail accounts like you or me have; they only use ACH Prearranged Payment & Deposit (PPD) format which is strictly for ACH transfers that stay within the US; not like the ACH transfers currently routed thru the Bangkok Bank NY branch and leave the US.   This policy change is driven by the US Treasury Dept and the National ACH Association. 

 

So, if you have been using your CU to do ACH transfers to Bangkok Bank that will no longer work effective 1 Apr 19.  Instead, you will need to do an International Wire (a.k.a., SWIFT) transfer or use a money transfer service like Transferwise.  And like identified in many posts a Transferwise transfer may not end up being coded as an International Transfer but as a local/domestic transfer.  

[zydeco]

1 hour ago, scubascuba3 said:

1 hour ago, sniggie said:

Well, as someone who is likely to be affected by the way Kbank reports Transferwise credits and who, like you, brings cash in on my return from UK visits, I am going to have to accept that I will have to change my financial arrangements from the middle of 2019. There will be a cost, using SWIFT interbank transfers on a monthly basis but that's the way it's probably going to be. 

We could do with a separate thread to discuss the bank side of this, there may be a scrum for opening a Bangkok Bank account

That's nothing. Wait until you go to renew your extension at Chaeng Wattana and there are now two huge massive lines. One in the morning at Bangkok Bank for the bank letter and the usual one in the afternoon at immigration. 

[Thaimarkz]

It seems pretty logic to me that a country tries to get rid of foreign freeloaders.

But it is also a fact that everything is exaggerated by the press. For me, this is not a serious change in the laws, but a letter to the immigration offices to examine certain applicants for a pension visa a little closer, especially from the countries where the embassy has stopped to provide any proof of income.

The 800000/400000 variant I do not see in danger and a change would make no sense, but degenerate into a loss business for land and banks. After all, a retiree not only needs the 800000 baht, but also money to live on. And this usually comes from abroad. So the country gets foreign currency. In order to prevent certain freeloaders, it would be useful if an application for a retirement visa would have to be submitted personally by the applicant. One could thus prevent the unclean business of certain offices who show false bank receipts and go to the immigration authorities instead of the applicants. It is wrong to punish people who live their lives in a clean and decent manner in a host country with regulations that are a burden for many. For those who think that only rich people are good for the country, I say every lawful Baht is good for the country. Even small animals contribute to prosperity, unless they are shitty and cheat. And for those who can or want to stay in a host country only with cheating and crooked business, stay where you are! Far away! You only harm us!

Edited January 8, 2019 by Thaimarkz
correction of language

[jacko45k]

5 minutes ago, randy723 said:

can Thai visa or someone tell me if I can still put 800k in the bank for at least 3 months before renewing my retirement visa or do I have to show that I have a pension of at least 65,000 baht per? I only have 35,000 per month from my pension but have over 65,000 baht per month from personal investments each month that can not be sent to Bangkok Bank each month. Thank you

You can still put the 800k there. 

[Nyezhov]

1 minute ago, wgdanson said:

But you will not be able to use that money towards your Extension fund.

Thats the silliness (or the rationale) of this whole change the rules business at least as it affects me and other part timers.

 

I have more than sufficient income. I dont need 65K a month and if I do, I can go to an ATM or do transferwise. I can make my life easier by just bringing in 9K, converting it, or even put it in a US funds account and live off of it.

 

For part timers, it makes no sense to deposit 65K in a bank account when you arent here.

 

I have been thinking about this whole thing as it applies to me, or anyone else who wants to stay here in the winter. It may actually make more sense to do an SETV in the USA and extend. Then a hop to Cambo or Lao or wherever for another SETV and extend. Look at the difference in costs and time.

 

Retirement: 1900 baht, and two trips to Immigration. Plus if you want to go anywhere outside, 1200Baht. But say 1900 baht. $60.

SETV: 1500 baht in the USA. 1900 baht for First extension. 2900 baht for Foreign Visa and second SETV, 1900 baht for second extension. 8200 baht Say $250.

 

But then take into account TW fees or bank fees and repatriating funds and all the hassles?

 

The $190 difference in fees is worth it. And I leave anyway.

 

[ubonjoe]

11 minutes ago, randy723 said:

can Thai visa or someone tell me if I can still put 800k in the bank for at least 3 months before renewing my retirement visa

Yes you can still do that to apply for a extension of stay based upon retirement.

[Henryford]

29 minutes ago, dickjones2018 said:

what stops one person, to now send 100k baht to his home country...

send back 65k each month (for the transfert code)

than re-send the money back to your home country, for the next month

 

will TI make a problem out of that ?

 

so in fact you need 65k baht + ridiculous bank fees (1000 baht at least to go out + 1000 baht to go in again)

 

so 65k baht +  12x2000 baht (bank transfer costs)

 

right

Yes it did occur to me what's to stop you sending 65k each month from abroad then sending the 65k straight back. The 65k sent back could be from a different bank, or using Dee Money, so the first bank account would look like you were just spending your income normally.Repeat every month. Would cost a bit in fees but would it comply?The incoming fees you would have to pay anyway so it's just the outgoing fees @ 6-10k per year.

Edited January 8, 2019 by Henryford

[logres212]

17 hours ago, ubonjoe said:

It is a directive that only changes the option for using ia income of 65k baht or 40k baht.

Everything else in the existing police order has not been changed.

There is no mention of averaging as in previous announcement. So what I can see from this it has to be a PCM deposit of 40/65000 bhat into a Thai bank account. It cannot be an average of that amount over a 12 month period if making quarterly deposits or if you miss or a bit short one month for example. 

[fordguy61mi]

There will be many expats that will have to leave the Kingdom because they won’t have the funds to stay. The party’s over, I guess, for those lying about their income for years. Good luck to them as they travel to their home country and try to make a living for themselves. I don’t say this sarcastically, as I do feel for those who are going through a lot of stress now, even if it is because of their own decisions.

[onera1961]

23 minutes ago, randy723 said:

can Thai visa or someone tell me if I can still put 800k in the bank for at least 3 months before renewing my retirement visa or do I have to show that I have a pension of at least 65,000 baht per? I only have 35,000 per month from my pension but have over 65,000 baht per month from personal investments each month that can not be sent to Bangkok Bank each month. Thank you

For umpteenth time, money in the bank (400K/800K) and seasoning rule has not changed. It remained the same. Please people don't ask the same question thousand times to clutter up the forum. 

[JLCrab]

31 minutes ago, Nyezhov said:

Nope. You arent certifying anyhting, you are swearing. No US Income affidavit was certified before. Dazzle them with footwork

The big difference between the (now defunct) US Embassy income affidavit form and the US Embassy blank notary form is that the income affidavit was actually a document from the US Embassy addressed directly to Thai Immigration. A blank affidavit would only show that it was written at the US Embassy Bangkok.

 

No guarantee that Thai IMM would accept the blank form affidavit for purposes of extension but maybe you would like to give it a try.

 

Edited January 8, 2019 by JLCrab

[kohlenkutscher]

I have a Euro account and a Baht account with my Thai bank. If I transfer every month from the Euro account 65000 THB to the Baht account, I believe that the 800000 THB regulation would be obsolete. Because all euro deposits come from a foreign account. Or do I think wrong?

[kalasinswede]

Does this mean you can use either proof from your bank or income letter from your embassy?

Edited January 8, 2019 by kalasinswede
wrong spelling

[onera1961]

29 minutes ago, dickjones2018 said:

what stops one person, to now send 100k baht to his home country...

Where r u getting this 100K every month? Out of thin air?

 

30 minutes ago, dickjones2018 said:

than re-send the money back to your home country, for the next month

Send 100K back. How r u living in Thailand? Working in somebody's somtam factory?
 

32 minutes ago, dickjones2018 said:

(1000 baht at least to go out + 1000 baht to go in again)

2K every month or 24K/year. Same as agent fee. Just give the money to an agent and he will take care and you can still work in a somtam factory. 

 

[Jim7777]

Finally some extremely good news!  No more trips to the embassy every year I get my extensions, from now on I just make a short trip down the street to my local Bangkok Bank branch.  Just have to make sure I make the transfers into Bangkok Bank every payday once a month which is fine because it's actually saving me money in ATM fees by using Bangkok Bank instead of my stateside bank.  I just simply transfer half of my monthly pension payments into Bangkok Bank once a month every payday which is equivalent to about 75,000 baht a month and that's just half of my monthly income.  The rest of it I just leave in my bank in the states.  That's not so bad this is actually good news for a lot of us.  

[onera1961]

11 minutes ago, fordguy61mi said:

There will be many expats that will have to leave the Kingdom because they won’t have the funds to stay. The party’s over, I guess, for those lying about their income for years. Good luck to them as they travel to their home country and try to make a living for themselves. I don’t say this sarcastically, as I do feel for those who are going through a lot of stress now, even if it is because of their own decisions.

They can always hire an agent and be poorer by 2K per month. May be they have to stop going to bars for few days to enrich the bar owners. 

[Nyezhov]

10 minutes ago, JLCrab said:

The big difference between the (now defunct) US Embassy income affidavit form and the US Embassy blank notary form is that the income affidavit was actually a document from the US Embassy addressed directly to Thai Immigration. A blank affidavit would only show that it was written at the US Embassy Bangkok.

 

No guarantee that Thai IMM would accept the blank form affidavit for purposes of extension but maybe you would like to give it a try.

 

I dont have too. My Extension is good till January 2020. Im merely trying to help others who don't wish to toss their cash in Thai banks.

[jacko45k]

8 minutes ago, kohlenkutscher said:

I have a Euro account and a Baht account with my Thai bank. If I transfer every month from the Euro account 65000 THB to the Baht account, I believe that the 800000 THB regulation would be obsolete. Because all euro deposits come from a foreign account. Or do I think wrong?

Maybe you think wrong as the transfer is required to come from outside Thailand. Do you not keep sufficient Euros to cover the 800k?

[onera1961]

8 minutes ago, kohlenkutscher said:

I have a Euro account and a Baht account with my Thai bank. If I transfer every month from the Euro account 65000 THB to the Baht account, I believe that the 800000 THB regulation would be obsolete. Because all euro deposits come from a foreign account. Or do I think wrong?

I think this will work. But it does not make 800K regulation obsolete. I think it may be a better approach than keeping the money for seasoning. 

[EL159]

2 hours ago, sometimewoodworker said:

TIT

 

Sometimes daft is what is done.

 

And your point is?

I would have thought for anybody with even half a brain my point is obvious!

[onera1961]

7 minutes ago, Jim7777 said:

The rest of it I just leave in my bank in the states.  That's not so bad this is actually good news for a lot of us.  

It is good news for people who are making 150K (or 5K USD) every month in retirement. 

[SheungWan]

18 minutes ago, fordguy61mi said:

There will be many expats that will have to leave the Kingdom because they won’t have the funds to stay. The party’s over, I guess, for those lying about their income for years. Good luck to them as they travel to their home country and try to make a living for themselves. I don’t say this sarcastically, as I do feel for those who are going through a lot of stress now, even if it is because of their own decisions.

 

5 minutes ago, onera1961 said:

They can always hire an agent and be poorer by 2K per month. May be they have to stop going to bars for few days to enrich the bar owners. 

Since those very same expats have been using the agency route for years there will be a zero effect on their departure or expenditure or stress.

[Henryford]

7 minutes ago, onera1961 said:

Where r u getting this 100K every month? Out of thin air?

 

Send 100K back. How r u living in Thailand? Working in somebody's somtam factory?
 

2K every month or 24K/year. Same as agent fee. Just give the money to an agent and he will take care and you can still work in a somtam factory. 

 

Say you had an income of 30,000 baht a month, not enough to comply but enough to live on, plus 35,000 in savings. Month 1 send the 35k savings to your UK bank. Then send the 65k to Thailand as your "income". Month 2 send the 35k savings to your UK bank...... etc, etc. You have additional fees to pay but using Dee Money not much. Better than an "illegal" agent's fee.