Report: Successful retirement extension using monthly income, no consul letter

[HuskerDo]

11 minutes ago, gk10002000 said:

And I would be happy to provide such proof, although without any guidelines or examples of what they would want to see, I can see nothing but problems.  I have stocks, bonds, funds, etc.  that pay me over $60,000 USD each year.  Said monies are in various IRA accounts, Roth and Traditional, and my regular Brokerage account.  Each account has records I could print out of past incomes generated as well as Etrade has an extremely simple and accurate income estimator tool that simply applies the past historical dividend and interest data and shows what the estimate would be for the next year.   Would Thais understand that?  Probably not. Would they want a letter from Etrade certifying my current holdings?  Etrade has told me they would generate that and simply reference the current holdings I have.  I would gladly supply the Thais with the list of equities, my account holding records, etc.  But I would not be surprised that the Thais would then say, "fine, but what if you sell every thing... then you have no income".  Well, technically that is possible, just as some private pensions go bankrupt, people sell their rental properties, etc.  My main point is, that the so called corroboration, documents are open season and no guidance is available that I'm aware of.

IF you sincerely make $60k a year on your investments why don't you just drop 800,000 baht in a bank and be thru with it? A portfolio throwing off that much income has to be well in excess of $1 mil.

 

Edited January 19, 2019 by HuskerDo

[gk10002000]

4 minutes ago, HuskerDo said:

IF you sincerely make $60k a year on your investments why don't you just drop 800,000 baht in a bank and be thru with it? A portfolio throwing off that much income has to be well in excess of $1 mil.

 

My reasons for not depositing are:  Because I like my money invested where it is earning an average of 6%.   That's the main reason.  The second reason is I don't trust Thailand banks or organizations any more than I have to and do not want to put any sizable amount of assets in the country.  Another reason is putting 800k baht in Thailand then requires me to file paper with the US for having more than 10,000 USD in a foreign account.  I just prefer to not tell the USA anything more than required.  I file my taxes, Etrade automatically sends them the required brokerage statements, sales, etc.  And yes your math is correct.  As a senior engineer that worked many years as a contractor, single no blood sucking ex wife, I took pretty good care of finances outside of work, and some years really did save close to 100K a year.  My portfolio is just over one million.  For those interested, here is a summary of my holdings in my IRA and brokerage accounts, not counting my company 401k that is in a simple short term bond fund:  NLY, T, PRHYX, NEA, PGX, PRHYX, PRFXF, and a handful of individual Municipal  bonds.  The tax free municipal bonds are in my regular brokerage account and are tax free.  The other funds are mixed between my Traditional and ROTH IRA accounts.

 

  Yes I have been considering the simplicity and relative ease of the Elite Visa, but since I plan to only spend about 1/2 of each year actually in Thailand, the cost/benefit of the Elite Visa is less appealing and not the best buy.

[Jingthing]

10 minutes ago, gk10002000 said:

My reasons for not depositing are:  Because I like my money invested where it is earning an average of 6%.   That's the main reason.  The second reason is I don't trust Thailand banks or organizations any more than I have to and do not want to put any sizable amount of assets in the country.  Another reason is putting 800k baht in Thailand then requires me to file paper with the US for having more than 10,000 USD in a foreign account.  I just prefer to not tell the USA anything more than required.  I file my taxes, Etrade automatically sends them the required brokerage statements, sales, etc.  And yes your math is correct.  As a senior engineer that worked many years as a contractor, single no blood sucking ex wife, I took pretty good care of finances outside of work, and some years really did save close to 100K a year.  My portfolio is just over one million.  For those interested, here is a summary of my holdings in my IRA and brokerage accounts, not counting my company 401k that is in a simple short term bond fund:  NLY, T, PRHYX, NEA, PGX, PRHYX, PRFXF, and a handful of individual Municipal  bonds.  The tax free municipal bonds are in my regular brokerage account and are tax free.  The other funds are mixed between my Traditional and ROTH IRA accounts.

 

  Yes I have been considering the simplicity and relative ease of the Elite Visa, but since I plan to only spend about 1/2 of each year actually in Thailand, the cost/benefit of the Elite Visa is less appealing and not the best buy.

I think you're being silly. Filing FBAR takes like five minutes and 800K baht raises zero red flags. Also you've got ample funds so I'm sure when you're in Thailand you spend a good bit. The 800K doesn't need to sit there. Spend it down all you like, you just need to top up three months before each annual application, then start spending again after each extension. I wouldn't be worried about Thai bank security. I recommend Siam Commercial Bank. The only issue might be repatriating it later if you want, but again 800K isn't that much, worse case you could export it in cash.

Cheers. 

Edited January 19, 2019 by Jingthing

[gk10002000]

9 minutes ago, Jingthing said:

I think you're being silly. Filing FBAR takes like five minutes and 800K baht raises zero red flags. Also you've got ample funds so I'm sure when you're in Thailand you spend a good bit. The 800K doesn't need to sit there. Spend it down all you like, you just need to top up three months before each annual application, then start spending again after each extension. I wouldn't be worried about Thai bank security. I recommend Siam Commercial Bank. The only issue might be repatriating it later if you want, but again 800K isn't that much, worse case you could export it in cash.

Cheers. 

You are entitled to your opinion.  I prefer to operate the way I do and put and move my money where I want, and in the ways I want.  I have seen enough issues with foreigners losing assets, being held "hostage" and for ransom over trumped up charges, unknown "clerical errors", etc.  I have made it to 61 years of age by navigating the waters my way.  In addition, the nature of my job and security clearances, and reporting, things are much simpler and easier if I minimize my exposure and involvement in anything outside the USA.  And since I plan to continue contracting on an ad hoc part time or temporary basis, keeping my foreign involvements simple or non-existtent makes things very easy for me

Edited January 19, 2019 by gk10002000

[Jingthing]

3 minutes ago, gk10002000 said:

You are entitled to your opinion.  I prefer to operate the way I do and put and move my money where I want, and in the ways I want.  I have seen enough issues with foreigners losing assets, being held "hostage" and for ransom over trumped up charges, unknown "clerical errors", etc.  I have made it to 61 years of age by navigating the waters my way.

Yes, there is a small chance you could lose 800K baht or so if some bad thing happened when your account was more flush. But if you buy an elite card you will definitely lose those funds and also it's my opinion that based on your financial report, losing 800K wouldn't have much of an impact on your quality of life. No worries, obviously it's your money, your choices. P.S.-- I don't have to tell you not to buy a condo. (Wanna buy my condo? Ha ha.)

[gk10002000]

2 minutes ago, Jingthing said:

Yes, there is a small chance you could lose 800K baht or so if some bad thing happened when your account was more flush. But if you buy an elite card you will definitely lose those funds and also it's my opinion that based on your financial report, losing 800K wouldn't have much of an impact on your quality of life. No worries, obviously it's your money, your choices. P.S.-- I don't have to tell you not to buy a condo. (Wanna buy my condo? Ha ha.)

Actually after my first trip to Thailand in 2004 I almost bought a condo as I was sure I would be returning frequently.  I have since made 14 trips to the Kingdom.  In 2004, the condo prices were reasonable, the USD was at about 43 baht to the USD, so the exchange rate was decent.  But over time, I got busy, rarely spent more than 30 days each year in the country.  I have been quite content not having to worry about a unit, the noisy neighbors. water and other utility problems, Nazi like condo associations, some of which I have experienced in the USA, etc.  So I'll pass on the condo.  Long term rental is all that's on my mind.  Heck, I just turned down some decent housing deals in Melbourne, Florida where I was working because I am pretty sure I would prefer not to retire right in that local area.  So, the running joke with me and my friends is I am the homeless millionaire.  Renting has worked OK for me over the years.   And later this year I am eligible for social security, so I pretty much got retirement comfort taken care of.  Still working through the end of this year, now in San Diego area, and if the company makes the job a little fun, I will stay a while.  I get a month off every year, and can take another month out of work without pay, so for a year or two, that's probably what I will do.  Life is OK

[HuskerDo]

13 minutes ago, gk10002000 said:

You are entitled to your opinion.  I prefer to operate the way I do and put and move my money where I want, and in the ways I want.  I have seen enough issues with foreigners losing assets, being held "hostage" and for ransom over trumped up charges, unknown "clerical errors", etc.  I have made it to 61 years of age by navigating the waters my way.  In addition, the nature of my job and security clearances, and reporting, things are much simpler and easier if I minimize my exposure and involvement in anything outside the USA.  And since I plan to continue contracting on an ad hoc part time or temporary basis, keeping my foreign involvements simple or non-existtent makes things very easy for me

Well I agree with your comment about not wanting to have to inform the US govt that you have over $10k overseas but as far as it being safe in a Thai bank I agree that it would be. Even if you are worried about it disappearing you have stated you have over $1 mil. $25k shouldn't change your life one way or another. Maybe just stay in the US and live it up on the $1 mil. Why frustrate yourself with new overseas rules when you don't have to?

[jacko45k]

2 hours ago, gk10002000 said:

And I would be happy to provide such proof,

Why not just supply him with a local bank statement showing 12 monthly transfers from overseas of 65,000 baht and a letter from the bank confirming the account, and not confuse him with all that other gubbins?

[HuskerDo]

5 hours ago, gk10002000 said:

My reasons for not depositing are:  Because I like my money invested where it is earning an average of 6%.   That's the main reason.  The second reason is I don't trust Thailand banks or organizations any more than I have to and do not want to put any sizable amount of assets in the country.  Another reason is putting 800k baht in Thailand then requires me to file paper with the US for having more than 10,000 USD in a foreign account.  I just prefer to not tell the USA anything more than required.  I file my taxes, Etrade automatically sends them the required brokerage statements, sales, etc.  And yes your math is correct.  As a senior engineer that worked many years as a contractor, single no blood sucking ex wife, I took pretty good care of finances outside of work, and some years really did save close to 100K a year.  My portfolio is just over one million.  For those interested, here is a summary of my holdings in my IRA and brokerage accounts, not counting my company 401k that is in a simple short term bond fund:  NLY, T, PRHYX, NEA, PGX, PRHYX, PRFXF, and a handful of individual Municipal  bonds.  The tax free municipal bonds are in my regular brokerage account and are tax free.  The other funds are mixed between my Traditional and ROTH IRA accounts.

 

  Yes I have been considering the simplicity and relative ease of the Elite Visa, but since I plan to only spend about 1/2 of each year actually in Thailand, the cost/benefit of the Elite Visa is less appealing and not the best buy.

I hate to say it GK but after looking at the investments you listed I think you are full of beans.  Those high yield funds have huge fees associated with them and are extremely risky. The only investment that makes sense is T. There are a lot of people that come on these boards claiming to be very wealthy. In reality few are. If you had over a million $ you wouldn't be so concerned with keeping 800,000 baht in a US bank or investing it to make a better return than a Thai bank. IF you were able to collect 6% on your 800,000 baht it would amount to $1,500 US a year. Someone who claims to have over $1 mil would consider $1,500 less than pocket money. You also said you are eligible to start collecting SS this year but might continue to work. You say you are single with over a million dollars and are in your 60's yet you are concerned about another $1,500 a year off the $25k (800,000 baht) you don't want to deposit in a Thai bank even tho it would make your life so much easier. You also are talking about continuing to work. Something sounds very fishy. You also said that some years you saved as much as $100,000 US dollars. That would mean you earn more than $200,000. Again, if that is true, at your age with all the income you claim to have you should have far more than $1 mil. Not a believer. 

Edited January 20, 2019 by HuskerDo

[earlinclaifornia]

On 1/15/2019 at 6:24 PM, ubonjoe said:

That is good news.

Just the letter from the bank confirming your account is valid and a statement or bank books are what I have been predicting is all they will want.

Not exactly. You noticed he said monthly deposits via BB. I brought mine over via quarterly transfers ands told to change to monthly. I now have a BB as well as my KTB

[JackThompson]

6 hours ago, gk10002000 said:

You are entitled to your opinion.  I prefer to operate the way I do and put and move my money where I want, and in the ways I want.  I have seen enough issues with foreigners losing assets, being held "hostage" and for ransom over trumped up charges, unknown "clerical errors", etc.

For longer-term stayers who go home every year, I would suggest you consider getting "Non-OA" Visa for now - avoiding immigration's corrupt shenanigans (varies by office - some are honest, some not).

 

6 hours ago, gk10002000 said:

Still working through the end of this year, now in San Diego area, and if the company makes the job a little fun, I will stay a while.  I get a month off every year, and can take another month out of work without pay, so for a year or two, that's probably what I will do.

If only staying 2 months / year, then a Tourist Visa or even Visa-Exempt entries will work - and require no jumping money-hoops beyond showing 20K Baht worth of cash in a bank for the Visa and 20K Baht Cash on arrival to immigration.

[Pib]

For those who stay "part-time" in Thailand like 2, 4, 6, etc, months a year, can no longer get an embassy income letter in order to use the monthly income method, and don't want to deposit Bt800K in a Thai bank for 3 months before extension application "for whatever reason(s)" these folks are definitely between a rock and a hard place in getting a retirement extension of stay.  It definitely complicates the situation.  Can't use the monthly income method and can't/don't want to deposit Bt800K. 

 

These folks are pretty much left with the risks/costs of using an agent, getting tourist visa and extending it, maybe doing some border runs during their part time stay, etc., in order to stay a significant portion of each year...but not the entire year. 

 

Or doing an O-A Visa outside Thailand and getting 2 years out of it by doing one border run just at the right time....then do a new O-A Visa outside Thailand. 

 

Or paying big baht for one of the various Elite Visas ranging from Bt5M for 5 years to Bt20M for 20 years. 

 

Then there is also the O-X Visa 10 year visa you must get outside Thailand that's really a 5 year Visa that can be extended once for another 5 years with annual requirements/checks that requires a starting deposit of Bt3M in a Thai bank....or Bt1.8M deposit with Bt1.2m annual income.    However, after 1 year the deposit amount can be drawn down to Bt1.5M.  Plus you "must" have Thai health insurance which ain't cheap per year.   These stringent requirements for an O-X have resulted in its "underwhelming" use...I still haven't seen any post of someone getting an O-X visa....but I expect there are a few who have went the O-X visa route.   

 

I also wonder if where Big Joke has been talking the possibility of a "new 10 year retirement extension of stay option" if he's really talking just allowing the 10 year O-X Visa to "also be obtained within Thailand" through the extension of stay process vs having to get the O-X visa outside of Thailand.  That is, same deposit/income requirement along with Thai health insurance.  Or maybe home country insurance might be acceptable.  Will just have to wait and see if anything concrete is implemented for a new 10 year extension of stay option.

 

Summary: for now, the Bt800K in a Thai bank option is the no fuss, no muss method if a person can "and wants" to do it. 

 

 

[granuaile]

16 hours ago, Pib said:

For those who stay "part-time" in Thailand like 2, 4, 6, etc, months a year, can no longer get an embassy income letter in order to use the monthly income method, and don't want to deposit Bt800K in a Thai bank for 3 months before extension application "for whatever reason(s)" these folks are definitely between a rock and a hard place in getting a retirement extension of stay.  It definitely complicates the situation.  Can't use the monthly income method and can't/don't want to deposit Bt800K. 

It's definitely problematic. I've been spending 3 months in US, 3-4 months in Thailand. I had been thinking to return home, and in 2020 hope to spend 3 months in Ireland and 3 months in the UK. Aside from the fact I don't need to transfer that much into the country to live, it makes spending the time at home that I have been difficult or spending extended amounts of time outside Thailand. This kind of pushes me over the edge to just head home after 2019. I may return in the future, but for now that seems the best course. Wish they would do same as Malaysia and allow 90-day entries but I don't think that's on the horizon. I am glad I never burned all my bridges.

[Pib]

3 hours ago, granuaile said:

This kind of pushes me over the edge to just head home after 2019. 

I think a good many "part-timers" in Thailand "who was already of the edge trying to decide if they want to spend more time in Thailand" will also decide it's got a little too hard in staying in Thailand based on the new income rule.   Maybe call it the straw that broke the camel's back....was just enough push to help the person come to a final decision of whether to stay or leave.  Sure there will probably be some regrets as many decisions cause some regrets. 

 

Now, how many is a "good many?"  Well, I would say a couple of thousand out of the hundreds of thousands of UK/US/AU/Danish farangs in Thailand.  So, we are only talking a very low percentage where the impact on the overall Thai economy would be like 0.00001% of GDP (that is, a very, very small amount).  But a little more economic impact in locations like Pattaya, Phuket, etc.,  where retirees are numerous.  Although some of retirees (full time or part time) like to grossly exaggerate how important we think our retiree economic contribution is to Thailand is, our contribution is really small...but many small contributions do add up.   Not saying these folks will not be missed, as they will, but economically the impact is very low.

 

But beyond the economic impact the human/emotional impact on many retirees and their Thai family/friends will be great.  Hopefully retirees such as yourself will work out a way to continue to visit Thailand for X-mounts each year.

[ubonjoe]

47 minutes ago, Pib said:

I think a good many "part-timers" in Thailand "who was already of the edge trying to decide if they want to spend more time in Thailand" will also decide it's got a little too hard in staying in Thailand based on the new income rule.

In cases like that my suggestion is to apply for OA long stay visa. The proof of income to apply for it is not the same and for money in the bank it can stay in a bank where the application is done.

[JLCrab]

30 minutes ago, ubonjoe said:

and for money in the baht it can stay in a bank where the application is done.

TYPO? -- and for money in the BANK it can stay in a bank where the application is done.

[ubonjoe]

7 minutes ago, JLCrab said:

TYPO? -- and for money in the BANK it can stay in a bank where the application is done.

It is fixed now.

[Pib]

58 minutes ago, ubonjoe said:

In cases like that my suggestion is to apply for OA long stay visa. The proof of income to apply for it is not the same and for money in the bank it can stay in a bank where the application is done.

Definitely agree....and with the right timing/planning a person might be able to stretch it to last almost 2 years.

[Isaanman]

After wading through this entire thread, I still have 2 questions relating to questions asked or subjects addressed that I still do not totally understand: 

 

1) After April 1st, will there be any banks in the US that can/will transfer funds to the Bangkok Bank (BB) branch in New York, according to the the International ACH Transaction (AIT) specifications required by BB in order to make these funds available in BBs in Thailand? The BB website clearly indicates, "Effective from April 1, 2019, Bangkok Bank, New York branch will fully comply with the NACHA rules and will return all ACH received which do not comply with the IAT format."  I assume this means that all of us who now receive our deposits into Thai BBs with the FTT code via an ACH transfer to the NY branch will no longer be able to do so, period. Correct?

 

2) What documents might be asked for/required to verify income as being from a "pension" at a local IO? Has anyone ever had such requested from them in order to extend their O-A visa? 

 

 

[billd766]

On 1/17/2019 at 10:32 PM, billd766 said:

My renewal is in August, 

 

I opened a BBK Bank account this morning which took nearly 2 hours using only my passport, yellow house book and my Thai driving licence.

 

The lady that did it for me was not quite sure what I wanted but a colleague gave me her mobile and I spoke to somebody at BBKK central. I explained to her what I needed, a sole account in my name, internet banking, debit card and that I needed it for Thai Immigration.

 

Then she knew exactly what was needed so I passed the phone over to the desk lady. After that it was a smooth job though I must have signed about 15 sheets of paper. I have to log in to my account within 3 days to validate the account and I will do that in the morning.

 

As I said my extension is due in August and this year I will be dropping to a marriage extension due to the Forex rate.

 

Form November last year I started to use TransferWise in my KBank sole account, before October my 3 pensions were sent to my joint account but not via TW. This year I will need a letter from KBank for both accounts and another from BKKBK for January through to July.

 

There is no way that I can get the 400,000 into my account other that winning the lottery. I may have a problem this year.

I sent GBP 250 from TW to my new BKK bank account on Friday to arrive today Monday 21st.

 

I know how much TW sent.

 

I checked BKKB this afternoon and what arrived was the same amount that was sent and it was listed as an international transfer plus no charges from the BKKB.

 

I transferred most of it to my KBank joint account and again no charge from BKKB.

 

I have sent another GBP from TW today and it arrives tomorrow so I will check again.

[LawrenceN]

14 hours ago, Isaanman said:

After wading through this entire thread, I still have 2 questions relating to questions asked or subjects addressed that I still do not totally understand: 

 

1) After April 1st, will there be any banks in the US that can/will transfer funds to the Bangkok Bank (BB) branch in New York, according to the the International ACH Transaction (AIT) specifications required by BB in order to make these funds available in BBs in Thailand? The BB website clearly indicates, "Effective from April 1, 2019, Bangkok Bank, New York branch will fully comply with the NACHA rules and will return all ACH received which do not comply with the IAT format."  I assume this means that all of us who now receive our deposits into Thai BBs with the FTT code via an ACH transfer to the NY branch will no longer be able to do so, period. Correct?

 

2) What documents might be asked for/required to verify income as being from a "pension" at a local IO? Has anyone ever had such requested from them in order to extend their O-A visa? 

 

Please note that I am the OP of this now lengthy discussion. I'm no expert, was reporting on my experience extending with the monthly income method. That said, I can comment on a couple of things you asked.

 

"I assume this means that all of us who now receive our deposits into Thai BBs with the FTT code via an ACH transfer to the NY branch will no longer be able to do so, period. Correct?"

 

No. I got a letter from Bangkok Bank laying all of this out, not in the mail, but handed over the counter without asking for it. If you haven't seen that letter, ask for it. I had questions similar to yours. We called the phone number in the letter. It goes to the main office in Bkk. The nice lady there was able to check the details of our depositors. One of my depositors complies with the required IAT format, the other does not. That was a couple of months ago. I called this source of funds, and they didn't seem to know what I was talking about. To them, my info is complete, my local address, bank's address, everything. I'll raise the issue with them again, after I call BkkBk again to see if maybe the issue has been resolved. If not, I'll be looking for a Transferwise solution, as so many of you have done.

 

Regarding your second question, I believe I answered it in my OP: "FTT" deposits, plus, if available, statements from your sources with corresponding withdrawals. Note that for one of my sources, there was no such detailed statement, just an annual letter stating what I would receive each month. My case, obviously, does not comprehensively address all possibilities.

 

This is at least the fourth time I'm posting this in this thread.

https://www.immigration.go.th/content/service_22

I don't say that to scold, but anyone reading this should bookmark this valuable document. Note that this page speaks of "evidence of pension." None of us are mind-readers who know what any individual IO is going to decide. My thought process was to say, "What would a reasonable person accept as evidence?" So I prepared bank statements and documents from my sources that backup the bank statements. It wasn't that complicated. Look at it that way, and don't stretch the truth. Don't walk in with a loose collection of papers that may or may not be transfers from abroad. Put the "evidence" in front of the IO. I was proactive, in that I had one of the bank statements in a file folder since last July. Even then, someone pointed out that an IO could reject that statement as being too old. In my case, it worked, as I expected it would, given my "reasonable person" point of view. These changes in the rules might take a bit of planning, kind of like doing your taxes every year. Keep records. Adjust your transfer method if necessary. Change is inevitable.

Edited January 22, 2019 by LawrenceN
minor grammar correction

[JLCrab]

43 minutes ago, LawrenceN said:

These changes in the rules might take a bit of planning, kind of like doing your taxes every year. Keep records. Adjust your transfer method if necessary. Change is inevitable.

I will presume it was just a matter of happenstance that you all along were making monthly SWIFT transfers that would qualify for this new extension via monthly income deposit method. Sometimes just luck is involved. But nice to know that, if you follow the regs, things can work out.

 

A good portion, maybe of this but certainly of other topics, is how can one make it look like one is following the new regs when one isn't.

Edited January 22, 2019 by JLCrab

[gk10002000]

On 1/19/2019 at 5:33 PM, HuskerDo said:

I hate to say it GK but after looking at the investments you listed I think you are full of beans.  Those high yield funds have huge fees associated with them and are extremely risky. The only investment that makes sense is T. There are a lot of people that come on these boards claiming to be very wealthy. In reality few are. If you had over a million $ you wouldn't be so concerned with keeping 800,000 baht in a US bank or investing it to make a better return than a Thai bank. IF you were able to collect 6% on your 800,000 baht it would amount to $1,500 US a year. Someone who claims to have over $1 mil would consider $1,500 less than pocket money. You also said you are eligible to start collecting SS this year but might continue to work. You say you are single with over a million dollars and are in your 60's yet you are concerned about another $1,500 a year off the $25k (800,000 baht) you don't want to deposit in a Thai bank even tho it would make your life so much easier. You also are talking about continuing to work. Something sounds very fishy. You also said that some years you saved as much as $100,000 US dollars. That would mean you earn more than $200,000. Again, if that is true, at your age with all the income you claim to have you should have far more than $1 mil. Not a believer. 

Your reasoning is absurdly biased an incorrect.  The so called "Fees" you mention while real are irrelevant.  The funds still put over 5 % and NLY averaging over 10 % puts me in that 60K level.  And you are like so many people that probably don't have much money, yet try to tell those like me that are a bit thrifty how to spend our money and how 800 K baht or 23,000 USD is trivial!  Yes the earnings at 6% would be about 1500, but funny how some people think that is trivial.  The $23,000 USD sitting in a flat Thai Bank account in a country that has many ways to screw a foreigner, well, go ahead do what you want with your money. I prefer to be cautious.  And as for the years where I put away 100K, yep.  I was an aerospace contractor and my net pay every week was >$2,500 for the weeks I did not work overtime at 1.5x and being a tester, there were weeks when I worked 70 hours.  While on the road I lived pretty cheaply and maintained my residence in tax free FLoria again, renting a cheap place while I was out of state.  So Florida of course does not tax my investments that are outside of my IRAs, and California where I was working as a non resident only taxes wages earned in California  Maybe hard to believe for some, but that pay check was due to the fact I was getting $1470/week in tax free per diem for the San Diego area on 7 day per diem.  I had a few years of gold mine job situation and I took advantage of it. Those really were my big break in life.  I have no debt, no loans, no credit card balance, have always owned my simple used cars, etc.    Your last sentence is stupid as I did not always make that much every year.  Currently I was hired on direct salary and I took the position because the Per Diem does run out, and the cost of my independent medical insurance due to Obamacare sky rockete from 120/month to now what would be 850/month.  And I didn't mind working for 3 years as a salary employee.  My current base pay.  OK it is 160K.  Add in the medical that is only 88/month including dental, they match 6% into my 401k, and I get almost 4 weeks of vacation.   That is what experienced system test engineers, with BS degrees in Engineering, MS degree in Math, an Ex Air Force Captain, a continuous security clearance since 1982 and just currently updated which was needed to work on some special programs which required a recent within 4 years update, etc.  Sorry if you don't believe what I wrote.  That's your right.  But stop trying to tell me or others how to spend their money or how $1,500 or $23,000 USD is trivial.  Have you ever read the book "The millionaire next door"?  I suggest you do.  And also "The mind of a millionaire" by Harv Ecker. 

[OJAS]

On 1/16/2019 at 12:07 PM, JackThompson said:

Others have reported their banks tell them it will take a couple weeks to get a 12-mo statement.  The OP's IO accepted his older 6-mo statement - yours may not.

Just one thing, though, Jack: might it not be equally legitimate to argue that any passbook entry dating back more than 6 months from the date of an extension application could, likewise, be deemed unacceptable by a particular IO?

Edited January 23, 2019 by OJAS

[genobkk]

On 1/15/2019 at 8:33 PM, Pib said:

And a report I'm looking forward to is where some one goes in with a year's worth of bank statement which show 12 Transferwise transfers say for 65K, but they are not coded as international transfers (just domestic transfers); however, the applicant also includes 12 Transferwise receipts which match up to the 12 transfers reflected on the bank statement.

Transferwise is the only way I can move money since we can not use Bangkok Bank New York branch to do ACH. My bank does not allow online transfers and I have no plans on traveling to the U.S to set anything up  I may be forced to use an agent but really I do not want too 

Edited January 23, 2019 by genobkk

[pontious]

Can the 65000 Baht transfer per month be in a Joint account.?

[ubonjoe]

36 minutes ago, pontious said:

Can the 65000 Baht transfer per month be in a Joint account.?

That is unknown at this time. It should be allowed but they could require it to be in your name only like they do for the 800k baht in the bank option.

[elviajero]

1 hour ago, pontious said:

Can the 65000 Baht transfer per month be in a Joint account.?

Highly unlikely. They don’t allow joint accounts for the 800K so I don’t see why they will allow it for transfers. It’s supposed to be your money.

[bkk6060]

1 hour ago, pontious said:

Can the 65000 Baht transfer per month be in a Joint account.?

No.

[pontious]

2 hours ago, bkk6060 said:

No.

And what authority has said that.