Retirement visa income method, trapped in Thailand in future?

[graemeaylward]

I have been in Thailand 6 years. Returned to UK twice for 3 weeks using my pension drawn direct from UK bank for funds whilst there. I have always transferred my pensions, both state and work into my Bangkok Bank account every month, except on the 2 occasions that I have been back to UK. I rely on the income based method for visa extension every year, with income letter, but now if I have to show 12 x monthly income amounts in my Thai account, I will never be able to return to UK as my Bangkok Bank debit card does not work in UK! I do not possess any credit cards. So it would appear that I am trapped!

 

Sent from my X98 Plus II (C2D6) using Thailand Forum - Thaivisa mobile app

 

 

[roo860]

Did I read it TVF that immigration have been told to cut some slack to people in this predicament?

Sent from my SM-G920F using Thailand Forum - Thaivisa mobile app

[madmen]

Are you talking the new union pay cc or the visa debit card

Did you double check with your bank that the visa card is cleared for international transactions? Hard to believe the card doesn't work at any ATMS at all in the UK.

[Myran]

I fail to see the problem. Transfer pension to Thai account (so that it shows up on your statement) and then transfer it to the UK account with TransferWise or something (to use while in the UK).

[JackThompson]

2 minutes ago, Myran said:

I fail to see the problem. Transfer pension to Thai account (so that it shows up on your statement) and then transfer it to the UK account with TransferWise or something (to use while in the UK).

I don't think TW works in that direction (pls correct if this has changed).  He would have to use Dee Money, a crypto-currency exchange, or something else.

 

15 minutes ago, madmen said:

Are you talking the new union pay cc or the visa debit card

They used to offer the Visa, then the Union Pay only - finally they are offering a MC (started Dec 18).  I got one, and can pay USA companies with it ok.  I haven't tried it in foreign ATMs, but should work.

[JackThompson]

22 minutes ago, roo860 said:

Did I read it TVF that immigration have been told to cut some slack to people in this predicament?

The "slack" is just for the 1st year only - in case you haven't had time to build up 12 months of payments when applying.  If not spending full-time in Thailand, some may need a way to access the funds when not here.

[Myran]

22 minutes ago, JackThompson said:

I don't think TW works in that direction (pls correct if this has changed).  He would have to use Dee Money, a crypto-currency exchange, or something else.

 

They used to offer the Visa, then the Union Pay only - finally they are offering a MC (started Dec 18).  I got one, and can pay USA companies with it ok.  I haven't tried it in foreign ATMs, but should work.

Doesn't really matter what service is used or if it's just a normal bank transfer. The fact of the matter is that there's not actually a problem, especially if you just plan ahead a bit before travelling back to the UK.

[Pattaya46]

1 hour ago, graemeaylward said:

I will never be able to return to UK as my Bangkok Bank debit card does not work in UK!

I really not understand the problem ??

You are in Thailand, so buy your flight in Thailand (or online) and pay in baht.

[Myran]

Just now, Pattaya46 said:

I really not understand the problem ??

You are in Thailand, so buy your flight in Thailand (or online) and pay in baht.

He's talking about supporting himself while in the UK.

[Pattaya46]

1 minute ago, Myran said:

He's talking about supporting himself while in the UK.

Oops. Ok

but I find strange that his card doesn't work in UK.

AFAIK Thai debit cards allow to get money from ATMs in Europe... but not UK??

 

[jiffers]

I understand the problem as I'm in the same boat. I usually spend 3 months in the UK in the  summer.

I don't know how feasible it is to transfer money from the UK to one's Thai account and then send it back to the UK for living expenses whilst there. In any case, it could be costly and doesn't seem to be a very clever solution.

Maybe Thai immigration will be reasonable and accept less than 12 months of deposits for this situation.

[graemeaylward]

Oops. Ok
but I find strange that his card doesn't work in UK.
AFAIK Thai debit cards allow to get money from ATMs in Europe... but not UK??
 

I have a Bangkok Bank Visa debit card which would not work in ATMs in UK in 2017!

Sent from my X98 Plus II (C2D6) using Thailand Forum - Thaivisa mobile app

[Jingthing]

11 minutes ago, jiffers said:

I understand the problem as I'm in the same boat. I usually spend 3 months in the UK in the  summer.

I don't know how feasible it is to transfer money from the UK to one's Thai account and then send it back to the UK for living expenses whilst there. In any case, it could be costly and doesn't seem to be a very clever solution.

Maybe Thai immigration will be reasonable and accept less than 12 months of deposits for this situation.

The leniency is for the first year only, not requiring the full 12 months.

I am certain that even with that leniency if you skipped one or multiple monthly transfers once you start it, even without the full 12 months being needed the first year, that it would be rejected.

The idea is to allow people to start late because it's new, not a license to start and stop it, first year or ever.

Is that written down? No. Lots of stuff isn't written.

It's just obvious common sense.

Is this new required monthly import situation onerous? You betcha it is. 

But that's what they're doing so we can either choose to comply, choose another method (800K banked and seasoned) or prepare our exit from Thailand. 

[jacko45k]

Find a UK friend who can deposit money into your UK bank for baht cash you give him.

[JackThompson]

48 minutes ago, Pattaya46 said:

Oops. Ok

but I find strange that his card doesn't work in UK.

AFAIK Thai debit cards allow to get money from ATMs in Europe... but not UK??

 

28 minutes ago, graemeaylward said:

I have a Bangkok Bank Visa debit card which would not work in ATMs in UK in 2017!

I suspect the problem could be the crappy "Union Pay" card which Bangkok Bank was offering, to the exclusion of Visa/MC cards, for awhile.  Thankfully, that problem has been solved.  A few hundred baht and a visit to any branch, and you can now get a MC ATM card.

[jacko45k]

10 minutes ago, JackThompson said:

I suspect the problem could be the crappy "Union Pay" card which Bangkok Bank was offering, to the exclusion of Visa/MC cards, for awhile.  Thankfully, that problem has been solved.  A few hundred baht and a visit to any branch, and you can now get a MC ATM card.

Well he did say Visa debit card so I suspect that is what he has. Not sure if I remember right but I thought I was told mine was good for purchases but not cash. Sure I tried it some 7-8 years ago, when it was still M/C, and got some cash in UK... and maybe Indonesia. 

[sumrit]

The simplest option would be to set up a 'Dee Money' account in Thailand to transfer money to the UK. They only charge 150 baht per transaction. Then you transfer you pensions etc to Thailand in the normal way, transfer it straight to Dee Money and send it back to your UK bank account and take it from there using you UK bank's ATM while you're in the UK. Would normally take a max of 1-2 days to complete.

[jiffers]

39 minutes ago, sumrit said:

The simplest option would be to set up a 'Dee Money' account in Thailand to transfer money to the UK. They only charge 150 baht per transaction. Then you transfer you pensions etc to Thailand in the normal way, transfer it straight to Dee Money and send it back to your UK bank account and take it from there using you UK bank's ATM while you're in the UK. Would normally take a max of 1-2 days to complete.

Hi summit, your suggestion looks good. The only worry I have is would immigration accept a Thai bank statement showing money going in then not long afterwards going back out ? 

[madmen]

Hi summit, your suggestion looks good. The only worry I have is would immigration accept a Thai bank statement showing money going in then not long afterwards going back out ? 

Get a second account. Problem solved

[lamyai3]

Do you have a forwarding address in the UK for any bank related correspondence etc? If so maybe you can just order a UK debit card from over here, online or by phoning them. 

[farangx]

17 minutes ago, jiffers said:

Hi summit, your suggestion looks good. The only worry I have is would immigration accept a Thai bank statement showing money going in then not long afterwards going back out ? 

Convince the IO that you are addicted to the smell of cash.

 

[Vacuum]

2 hours ago, jiffers said:

I understand the problem as I'm in the same boat. I usually spend 3 months in the UK in the  summer.

I don't know how feasible it is to transfer money from the UK to one's Thai account and then send it back to the UK for living expenses whilst there. In any case, it could be costly and doesn't seem to be a very clever solution.

Maybe Thai immigration will be reasonable and accept less than 12 months of deposits for this situation.

Bangkok Bank fees for transferring money is 400 baht, costly? I don't think so.

[chickenslegs]

24 minutes ago, Vacuum said:

Bangkok Bank fees for transferring money is 400 baht, costly? I don't think so.

Can you give more details. I recently had to pay 1,200 baht for a SWIFT transfer from Bangkok Bank to my UK bank.

 

If there's a 400 baht option I would use it.

[totally thaied up]

1 hour ago, jiffers said:

Hi summit, your suggestion looks good. The only worry I have is would immigration accept a Thai bank statement showing money going in then not long afterwards going back out ? 

Get a second account from another bank. Withdraw cash and transfer back using the different bank. 

 

 

[OJAS]

7 hours ago, graemeaylward said:

I have always transferred my pensions, both state and work into my Bangkok Bank account every month

Since you're in receipt of the State Pension, why not obtain a multi-entry non-O visa on those grounds from the London Embassy next time you're in the UK? You will then need to do border runs every 90 days after your return to Thailand, but, in practice, you could get almost 15 months out of the visa through judicious timing. At the same time as your first border run you could resume making monthly 65k transfers to your Thai account in preparation for your next extension of stay 12 months later.

 

You might find this thread from 2017 worth a read:-

 

 

[Sheryl]

5 hours ago, jiffers said:

I understand the problem as I'm in the same boat. I usually spend 3 months in the UK in the  summer.

I don't know how feasible it is to transfer money from the UK to one's Thai account and then send it back to the UK for living expenses whilst there. In any case, it could be costly and doesn't seem to be a very clever solution.

Maybe Thai immigration will be reasonable and accept less than 12 months of deposits for this situation.

Thai Imm does nto care how many months of the year you spend here. If you apply for a one year extension you need to show monthly transfers each month, that's the rule.

 

Easy to wire part of it back to the UK via Dee Money and not too costly.  150 baht transfer fee only. You'll lose something due to the two way currency conversion though.

https://www.dee.money/

 

 

[Pib]

4 hours ago, Vacuum said:

Bangkok Bank fees for transferring money is 400 baht, costly? I don't think so.

 

3 hours ago, chickenslegs said:

Can you give more details. I recently had to pay 1,200 baht for a SWIFT transfer from Bangkok Bank to my UK bank.

 

If there's a 400 baht option I would use it.

 

It's approx Bt400 if you select the option that Bangkok Bank does "not" cover any intermediary/correspondent bank fees that might occur along the way.  Approx Bt1200 if you want Bangkok to cover any intermediary/correspondent bank fees along the way.  These are the "Direct" upfront fee(s).

 

And whatever Thai bank you use, they will use their "TT Selling Rate" for the transfer....that is they will sell you the pounds, dollars, etc., you want to send back at their TT Selling Rate.  The "lower" the TT Selling Rate the better for you/the less currency exchange markup (i.e., Indirect fee) to you.  Plan on approx a 1 to 2% markup.  Or maybe said another way, assuming the exchange rate has been very stable/basically stayed unchanged since you originally sent the money "to" Thailand, you will experience a 1 to 2% loss in sending it back.

[Pib]

And if doing an International Transfer from your Bangkok Bank ibanking (if authorized to do Int'l transfers) the current "direct fees" are: 

 

[JackThompson]

6 hours ago, jiffers said:

Hi summit, your suggestion looks good. The only worry I have is would immigration accept a Thai bank statement showing money going in then not long afterwards going back out ? 

If you show your passport - that you were in the UK during that period - I don't see how they could honestly claim it was a problem.  We are supposed to show we have a certain income, which is the purpose of showing money coming in.  But how and where you spend that income should be up to you. 

 

Of course, all planning goes out the window with a bad IO.  To deal with that possibility (depends on the office, but may vary over time depending on recent "push to agent" hoop-jumping initiatives), you could xfer it in smaller increments to a 2nd account in Thailand, which is then used to send it back once a month or so.

[steve73]

If you go back to UK every year (or even every other year) you could arrange to get an OA while you're there, which can last 2 years if managed correctly.....  You will need to show some UK financials, but no need to bring anything to Thailand other than what you actually need here.