40k/month Proof of Income at CW

[mcmco]

As the U.S. Embassy no longer provides income affidavits, what is acceptable documentation for proof of 40k/month income at Chaengwattana Office? 

 

Thanks in advance.

[ubonjoe]

You have to show at least 40k baht being transferred in monthly from abroad into a Thai bank for 12 months.

If first extension it can be as little as 1 month transferred in. This year it can be less than 12 months but you should've already done some transfers this year.

[mcmco]

This will be my first extension. So a printout of an account statement, from say SCB, showing transfers >40k/month dating back from January 2019 to now will be sufficient? 

 

How can I prove that these deposits are from abroad? Will showing a Transferwise transaction history do? Or will I have to get some sort of deposit verification from my bank? Thanks so much. 

[ubonjoe]

Transfer since January will enough since it is your first extension application.

You need proof they are international transfers. Some banks have a code that reflects they are international transfers inyour bank.

You need to check the TransferWise transfers are shown as international transfers. Unless they were transferred directly from to your bank they may only be shown as domestic transfers.

You would need a bank statement showing the transfers and a letter from the bank confirming your account is valid.

[mcmco]

Just to clarify. A bank statement and letter of account confirmation from my international bank or Thai bank?

[ubonjoe]

10 minutes ago, mcmco said:

Just to clarify. A bank statement and letter of account confirmation from my international bank or Thai bank?

You Thai bank.

[mcmco]

Thanks a lot. Much appreciated as always!

[asiaexpat]

Am I missing something here? IFAK 40K baht per month applies those applying for an extension of stay based on Thai family (usually wife.) I did not read that the funds must come from overseas and in fact many may use income from work. Why would it need to be international transfer?

[ubonjoe]

12 minutes ago, asiaexpat said:

Am I missing something here? IFAK 40K baht per month applies those applying for an extension of stay based on Thai family (usually wife.) I did not read that the funds must come from overseas and in fact many may use income from work. Why would it need to be international transfer?

Proof of the 40k baht income if legally working with a work permit can be used. It is proved by showing proof of taxes paid.

I think there are more people using foreign income than those working here.

 

[asiaexpat]

11 minutes ago, ubonjoe said:

Proof of the 40k baht income if legally working with a work can be used. It is proved by showing proof of taxes paid.

I think there are more people using foreign income than those working here.

 

So if not working thus using tax reports to show 40k other proof (bank letter) must show international transfer (understood to be some form of pension I suspect.) Just read the latest change, thanks UJ.

Edited May 4, 2019 by asiaexpat
update

[ubonjoe]

4 minutes ago, asiaexpat said:

So if not working thus using tax reports to show 40k other proof (bank letter) must show international transfer, is that what the rule is?

Or

[sumrit]

5 hours ago, mcmco said:

How can I prove that these deposits are from abroad? Will showing a Transferwise transaction history do? Or will I have to get some sort of deposit verification from my bank? Thanks so much. 

Transferwise use one of three partner thai banks. The Bangkok Bank, TMB and Kasikorn Bank. If you use any other bank your transfer will go via one of these partner banks first and show up in your own bank statement/passbook as a domestic transfer so is not acceptable to Immigration.

 

If you do use one of their three partner banks however, and ask Transferwise to use your choice of bank for each transfer they WILL do that, then all your transfers will show up as International transfers.

 

I (and some other expats posters here) contacted Transferwise (independently) about this specific problem about three months ago. We were each told that if you phone/email their office when making a transfer and ask for it to be sent to your chosen partner bank they will do that. (not 100% but I think the US  office suggested email while the UK office suggested phoning and said told me the request would be flagged up as a permanent request on my TW account)

 

For me, I phoned the UK Office and asked that my transfers always be sent via the Bangkok Bank. I have made a total of nine transfers since then and every single one has come directly to the Bangkok Bank, showing up as an International Transfer (FTT in my passbook) every time.

 

 

 

 

 

9

[mcmco]

There should be a way to explain this to immigration since this will be my first time applying for the 1 year extension. I'm going to see if my Thai bank can give me some sort of verification letter that these transfers are international. I do have one of Transferwise's partner banks so I will make sure to switch this ASAP.

 

As a back up plan I will show immigration the money trail of each transfer by showing my oversees bank statement, Transferwise transactions, and Thai bank statements. Hopefully by seeing that the amounts and dates are all identical they will accept this. Will report back will what they say. 

[CapraIbex]

On 5/4/2019 at 2:45 PM, sumrit said:

Transferwise use one of three partner thai banks. The Bangkok Bank, TMB and Kasikorn Bank. If you use any other bank your transfer will go via one of these partner banks first and show up in your own bank statement/passbook as a domestic transfer so is not acceptable to Immigration.

 

If you do use one of their three partner banks however, and ask Transferwise to use your choice of bank for each transfer they WILL do that, then all your transfers will show up as International transfers.

 

I (and some other expats posters here) contacted Transferwise (independently) about this specific problem about three months ago. We were each told that if you phone/email their office when making a transfer and ask for it to be sent to your chosen partner bank they will do that. (not 100% but I think the US  office suggested email while the UK office suggested phoning and said told me the request would be flagged up as a permanent request on my TW account)

 

For me, I phoned the UK Office and asked that my transfers always be sent via the Bangkok Bank. I have made a total of nine transfers since then and every single one has come directly to the Bangkok Bank, showing up as an International Transfer (FTT in my passbook) every time.

 

The Singapore office is their (TW) worst support base; Their style of responses are alike to a Nigerian scam email.

It does not seem right that TW limits its options dealing with Thai banks.

Notwithstanding the monetary benefits, I find it cumbersome and disdainful for going through these loops to get funds coded correctly.

Other financial institutions are catching up. I just used OFX, they're now using the BAHTNET system and their exchange rates very competitive. And no extra phone calls/e-mails, funds are transferred within 36 hours.

 

[Boit]

Is this discussion about minimum monthly deposits for Retirement visa renewal? If so, I thought the minimum was B65k monthly?

[sumrit]

47 minutes ago, Boit said:

Is this discussion about minimum monthly deposits for Retirement visa renewal? If so, I thought the minimum was B65k monthly?

A minimum of 65k baht every month for twelve months (total 780k baht), transferred into a Thai bank from abroad, if applying for an extension based on retirement.

 

An average of 40k baht per month for twelve months (total 480k baht), transferred into a Thai bank from abroad, if applying for an extension based on Marriage.

 

Note, for retirement the minimum must be transferred each and every month but, for marriage the amount is an average so it can vary under/over during the year as long as the 480k baht minimum is met for the complete year.

[onera1961]

On 5/5/2019 at 12:31 AM, mcmco said:

As a back up plan I will show immigration the money trail of each transfer by showing my oversees bank statement, Transferwise transactions, and Thai bank statements. Hopefully by seeing that the amounts and dates are all identical they will accept this. Will report back will what they say. 

These back-up plan is useless. IOs are not interested in this backup plan. It does not satisfy their hope and aspirations. Hiring an agent will work because that will satisfy their hope and aspirations. If they reject you, you cannot do anything except venting your angers here and subject yourself to inconveniences.