400k in Thai bank.

[fulhamster]

So now we have to have 400K minimum in a Thai bank, does this start from 1st March ?

 

My visa is due for renewal in December.

I need to have 800K in an a/c from 1st September.

 

But do I now need to have 400K between 1st March and 31st August ?

 

I realise that this will be the case next year, but does it also apply to this year ?

 

 

[elviajero]

The new rules apply to applications made after March 1st. So you won’t need to maintain the 800K/400K until after December when your next years extension has been granted.

[fulhamster]

1 minute ago, elviajero said:

The new rules apply to applications made after March 1st. So you won’t need to maintain the 800K/400K until after December when your next years extension has been granted.

Thanks - so no need to top up my a/c until september

[ubonjoe]

7 hours ago, fulhamster said:

Thanks - so no need to top up my a/c until september

Actually under the new rules not until October since the new rules only require the 800k baht to be in the bank for 2 months on the date you apply for the extension.

[fulhamster]

47 minutes ago, ubonjoe said:

Actually under the new rules not until October since the new rules only require the 800k baht to be in the bank for 2 months on the date you apply for the extension.

Thanks Joe -- confused as I thought the 2 months seasoning was for first-time applicants.

Has always been 3 months seasoning, or have I misunderstood the new directive ?

[ubonjoe]

9 minutes ago, fulhamster said:

Thanks Joe -- confused as I thought the 2 months seasoning was for first-time applicants.

Has always been 3 months seasoning, or have I misunderstood the new directive ?

The new rule states 2 months for all extensions.

"(4) At least 2 months prior to filing date"

Filing date means the date your apply.

It stated 60 days for the first extension before not 2 months.

 

 

[elviajero]

5 hours ago, fulhamster said:

Thanks Joe -- confused as I thought the 2 months seasoning was for first-time applicants.

Has always been 3 months seasoning, or have I misunderstood the new directive ?

In the previous directive it specified 60 days for the first application and 3 months thereafter; whereas, the new directive just says 2 months. 

[khm2412]

I have not trawled all the posts on the new O-A extension requirements, so please forgive me if these questions have already been answered.  My extension is due in December. I have a Kasikorn Bank account, which does not show my monthly Transferwise credits as  foreign transactions, therefore I opened an account with Bangkok Bank to solve this problem.  I will start my monthly credits into my Bangkok Bank account from my UK pension of at least 65,000 THB this month, but presumably as the January payment from Transferwise into my Kasikorn account will not show as a foreign payment, I will have to rely on the 800,000 THB method this year? That being the case, what happens if next year I want to use the 65,000 THB monthly foreign credit method instead of the 800,000 THB method?  Can I start afresh and not have to keep the 800,000 THB in the account for three months, since I am using a different method of income?  Lastly, are Immigration strict about the type of account used to season the 800,000 THB?  I currently have the money in a K-Bond account.  Thank you for any clarification you can provide.

[Sumarianson]

What a rediculous requirement. Why? It does nothing but put more money in the pockets of the banks. I am not here to make the rich richer. Can't wait for a sensible change of government and policy.

[Sydebolle]

Until December many things can happen and will change - trust me on this! 

[babacar]

Up to now I have read a lot of things regarding this crazy new regulations. But so many that it becomes more and more unclear.....But I would like to point out 2 points which concern myself and for sure a rather big numbers of expats. I have hads a stupid motorbike accident: I have been slowly pushed by a car with 2 thai guys inside, I was driving slowly but flying quickly in the fields, the 2 guys go down a few seconds from the car and goes away...I don't want to be long but the result: 650.000B out of my wallet at "First Western Hospital" at Koh Phangan. 8500B to repair the motorbike.... And to day I am still suffering physicaly from this crash, even after the operation. So I ask to all of you, what to do when people are talking of a low and high target (800K, 400k), that's clear you are deep in the sheet, what's your feeling ???

Point 2: I am just married with a thai lady. If I can't full fill this regulation in term of money, what to do, have you any idea ????? 

[BritManToo]

9 minutes ago, babacar said:

Point 2: I am just married with a thai lady. If I can't full fill this regulation in term of money, what to do, have you any idea ????? 

You take a trip to Suvannakhet in Laos, or HCMC in Vietnam and buy yourself a 1 year multi entry non-o marriage VISA for 5000Bht/$200.

That gets you 5 entries into Thailand of up to 90 days per border bounce.

No financials required, just her signed ID/house book copies and the marriage cert plus signed copies.

 

Best to avoid the islands, dangerous places, and the hospitals overcharge.

Edited February 5, 2019 by BritManToo

[Sheryl]

5 hours ago, khm2412 said:

I have not trawled all the posts on the new O-A extension requirements, so please forgive me if these questions have already been answered.  My extension is due in December. I have a Kasikorn Bank account, which does not show my monthly Transferwise credits as  foreign transactions, therefore I opened an account with Bangkok Bank to solve this problem.  I will start my monthly credits into my Bangkok Bank account from my UK pension of at least 65,000 THB this month, but presumably as the January payment from Transferwise into my Kasikorn account will not show as a foreign payment, I will have to rely on the 800,000 THB method this year? That being the case, what happens if next year I want to use the 65,000 THB monthly foreign credit method instead of the 800,000 THB method?  Can I start afresh and not have to keep the 800,000 THB in the account for three months, since I am using a different method of income?  Lastly, are Immigration strict about the type of account used to season the 800,000 THB?  I currently have the money in a K-Bond account.  Thank you for any clarification you can provide.

Some people in your situation are planning to try to show statements from Transferwise to establish that funds came from abroad but as no one has yet done this and reported back we have no idea how it will go over. And in any case may vary from one office to another.

 

Having your account at Bangkok Bank will not guarantee that all TW transfers show as foreign.  Currently most do but occasionally one  that does not.  TW uses 3 different Thai banks and you cannot specify which nor know in advance. If they use a different bank than the one your account is in then the receiving bank makes a domestic transfer to your bank and it thus shows as a domestic transfer. Currently they seem to use Bangkok Bank most (but not all) of the time  but that could change without warning, and even if it doesn't you will still get the occasional transfer that doesn't come through it, and you'll have no advance warning.

 

It is not only Trabnsferwise that has this problem, some TV members have reported that government pensions transferred directly by the government payer were coming in as domestic, apparently due to using a correspondent bank. Relying on Thai bank statements to show origin of funds is therefore problematic  but TI does not yet realize this. 

 

On your other questions:

 

- to my reading of it, if the next year you will be using income method then you do not need 800K in the bank 2 months before the extension application, just documentation of 12 consecutive monthly transfers from abroad. (After 1 March   2 months before, not 3 like in the past).

 

- re type of account, I had the same question, consensus seems to be that fixed deposits are OK  in additio nto regular savings accounts since the money is still immediately available (you just forfeit the interest by withdrawing it)  but I am not  familiar with what a K-Bond account is.

[MadMuhammad]

2 hours ago, Sumarianson said:

What a rediculous requirement. Why? It does nothing but put more money in the pockets of the banks. I am not here to make the rich richer. Can't wait for a sensible change of government and policy.

So where do you keep your money back home?

[jesimps]

7 hours ago, khm2412 said:

I have not trawled all the posts on the new O-A extension requirements, so please forgive me if these questions have already been answered.  My extension is due in December. I have a Kasikorn Bank account, which does not show my monthly Transferwise credits as  foreign transactions, therefore I opened an account with Bangkok Bank to solve this problem.  I will start my monthly credits into my Bangkok Bank account from my UK pension of at least 65,000 THB this month, but presumably as the January payment from Transferwise into my Kasikorn account will not show as a foreign payment, I will have to rely on the 800,000 THB method this year? That being the case, what happens if next year I want to use the 65,000 THB monthly foreign credit method instead of the 800,000 THB method?  Can I start afresh and not have to keep the 800,000 THB in the account for three months, since I am using a different method of income?  Lastly, are Immigration strict about the type of account used to season the 800,000 THB?  I currently have the money in a K-Bond account.  Thank you for any clarification you can provide.

I've been told by Bangkok Bank that I have to get a letter certifying residence which I have to present to TI to receive a letter from them to present to the bank to open an account. Did you have to do the same thing? I'm in Pattaya by the way.

[khm2412]

Hi jesimps. No, Bangkok Bank were happy with just my yellow house book and pink ID card.

[khm2412]

@Sheryl, many thanks for your input and observations - much appreciated. As I mentioned, I probably won't be able to prove the January payment into my account, unless TI accept Transferwise statements, so plan B would be the 800,000 THB method for this year only. Just to clarify, if I use this method and then after I get the extension in December, I decide to spend some of the 800K in the 3 months following the extension, would it be acceptable to inform TI that in 2020 I will be using the 65K monthly income method and therefore don't need to maintain a balance of 800K in my account?

The K Bond is an investment account investing in government bonds, which can be converted into cash the next day. Not sure whether this would be acceptable to TI.

Is there an official TI enquiry site, where questions such as mine can be posed for definitive answers?

Many thanks again for your time.

[Sheryl]

14 hours ago, jesimps said:

I've been told by Bangkok Bank that I have to get a letter certifying residence which I have to present to TI to receive a letter from them to present to the bank to open an account. Did you have to do the same thing? I'm in Pattaya by the way.

Please do nto make duplicative posts. I have deleted the other one.

 

I am not clear if  BB is  are asking for is proof of your address, which is a fairly common requirement, or for a letter from TI asking them to give you a bank account, if it is the latter that is a new one to me.

 

For proof of address, It can be a tabian ban but if you do nto have one then usually one gets a letter from Immigration (same office that you do your 90 day reporting at). See this threads re doing this in Pattaya area:

 

 

 

[ivor bigun]

So where do you keep your money back home?

The difference is you can spend it,here you cant,keep up

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[cmarshall]

On 2/4/2019 at 12:13 PM, elviajero said:

The new rules apply to applications made after March 1st. So you won’t need to maintain the 800K/400K until after December when your next years extension has been granted.

That's a reasonable interpretation, but the police order nowhere states that.  Therefore, as we have already seen, immigration officers will interpret it variously, not always to your benefit.

 

The safe harbor is to assume that it fully applies to you right now and plan accordingly.  That's the only sure way that you will not be shocked at your next renewal.

[Mario666]

On 2/5/2019 at 12:39 AM, ubonjoe said:

Actually under the new rules not until October since the new rules only require the 800k baht to be in the bank for 2 months on the date you apply for the extension.

Hi Ubon Jo,

 

I went to Samui immigration yesterday to enquire about how many days in advance I could apply for my extension as my renewal date is July 1st and I need to travel back to the UK on June 10 for my son's wedding and will be out of Thailand for 2 months.

 

At first she said I could only apply 10 days before the renewal date, but when I explained the situation she said I could apply in the first week of June provided I showed them a copy of my air tickets.

 

However, I also specifically asked her about the seasoning time required for the 800k method and she told me categorically that it is 3 months before you apply and three months after the renewal date that you must have the money in your account and thereafter the minimum must be 400k. I assume this means as I am applying nearly 1 month early that my 800k will need to be deposited for nearly 7 months.

 

As we know all IOs make their own rules, but to remove any doubt and potential problems I would urge everyone using the 800k method to go to their IO and ask the question ASAP.

 

Also specific to Samui is that you need to present a medical certificate and bank letter that can be no more than 1 day old respectively, i.e., no older than the day before you apply for your renewal......Before they could be up to 7 days old.

 

All the other daft stuff you need to present like hand drawn maps, etc. has not changed at Samui IO.

 

Hope this helps someone.

[Mario666]

On 2/5/2019 at 1:27 AM, fulhamster said:

Thanks Joe -- confused as I thought the 2 months seasoning was for first-time applicants.

Has always been 3 months seasoning, or have I misunderstood the new directive ?

Please see my reply above.

[Sumarianson]

On 2/5/2019 at 9:17 PM, MadMuhammad said:

So where do you keep your money back home?

In a building society. Where do you keep yours? The reference is in regard to not getting interest on your money here and being unable to use your money for such a long period of time will require that you transfer another 400000 making the requirement 1.2MB and not 800,000

As prescribed. 

[ubonjoe]

6 hours ago, Mario666 said:

Please see my reply above.

The new rules clearly state it is 2 month before and then 3 months after from March 1st onward.

Of course that was Samui immigration and they are know for ignoring the the actual rules and making up their own rules.

[khm2412]

@ubonjoe I would greatly appreciate your input on my two recent posts on this topic. Many thanks for your time.


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[ubonjoe]

On 2/5/2019 at 3:34 PM, khm2412 said:

 I will start my monthly credits into my Bangkok Bank account from my UK pension of at least 65,000 THB this month, but presumably as the January payment from Transferwise into my Kasikorn account will not show as a foreign payment, I will have to rely on the 800,000 THB method this year?

It appears you will be able to show almost a year of incoming 65k baht transfers it should not be a problem since the immigration has been told to be flexible and lenient. I see no reason for you need to use the 800k baht in the bank option.

[khm2412]

Many thanks@ubonjoe - very reassuring. How about the subject of switching between the 800K and 65K income methods in adjacent years? Will the 800K have to remain in the account for 3 months after the approval , if you have decided to use the 65K per month method for the following year? Any thoughts about the type of account TI will require for the 800K to be kept in?


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[ubonjoe]

14 minutes ago, khm2412 said:

Will the 800K have to remain in the account for 3 months after the approval , if you have decided to use the 65K per month method for the following year?

Not sure how that will be handled by immigration. Perhaps if asked you could should you have the money coming into the bank instead of keepting the money in the bank.

14 minutes ago, khm2412 said:

Any thoughts about the type of account TI will require for the 800K to be kept in?

No changes for that. A standard saving account or a fixed deposit account (most offices will accept them)  that allows you to withdraw the funds without delay or penalty other than loss of interest.

[khm2412]

Thanks again for the clarification@ubonjoe. It may be worth getting an official verdict on how swapping between income methods will be handled by TI, as this could affect quite a few people, especially if they have been forced to spend some of the 800K due to unforeseen circumstances.


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