Proof of money - single or multi accounts?

[EltelKAR]

Given the new rules I was going to transfer (ring fence) 800,000 baht retirement visa pledge cash into a separate saving account.  I've just renewed my retirement visa.  Is it okay to open a new account and transfer the cash to another account in my name during the first three months?  And as a thought, does the pledge cash need to be in a singe account or is it okay to show over more than one account?  Cheers. 

[allane]

This whole requirement to lock-up money post approval is brand new, so none of us are going to know anything definitive for at least a year. That said, my guess is that it would be acceptable. Keep your deposit book for whatever account the money is presently in, to ensure a complete three month paper trail.

Having the money in more than one account has always been acceptable.

Edited March 7, 2019 by allane
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[graemeaylward]

So, in theory, I could open 1 account with 400,000 baht in it and 10 other accounts with 40,000 baht in each! Now that would create a nice pile of paperwork for the IO to examine!
Just being mischievous! :-)


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[jacko45k]

3 hours ago, EltelKAR said:

Is it okay to open a new account and transfer the cash to another account in my name during the first three months

I would suggest not. The rules suggest the 800,000 baht cannot be reduced during the first 90 days. Moving it between accounts may jeopardize that, or else you will be needing to persuade a compliant IO. Being mischievous may not help that!????

[allane]

Well said. I never cease to be amazed by the number of people who come on here to ask "If I poke a dog with a stick, will it bite ?"  At the risk of stating the obvious, the best way to ensure that the dog doesn't bite is not to poke it.

[Henryford]

1 hour ago, jacko45k said:

I would suggest not. The rules suggest the 800,000 baht cannot be reduced during the first 90 days. Moving it between accounts may jeopardize that, or else you will be needing to persuade a compliant IO. Being mischievous may not help that!????

So does that means you can never move the money from say a low interest account to a high interest account, even after the 90 days, as, in theory, that would reduce the original account below 400k.

Edited March 7, 2019 by Henryford

[jacko45k]

16 minutes ago, Henryford said:

So does that means you can never move the money from say a low interest account to a high interest account, even after the 90 days, as, in theory, that would reduce the original account below 400k.

Theoretically yes, although there was a post where a BM moved money directly from one account to another and showed supporting paperwork to an IO who accepted it. Another option is open the new account with 800k and sit on it for a year, effectively requiring 1.6 million! Might be able to sit on it for just 2 months too pre-Ext renewal, while keeping the old one at 400k. It is all too complex.

Edited March 7, 2019 by jacko45k