Foreigners now need to keep 800k in Thai bank for three months AFTER retirement extension is granted. The alien can withdraw the fund 3 months after being granted permission but the remaining balance must be no less than THB 400,000. In other words my bank will block the remaining 400k until the end of my visa extension. So can you tell me "When and How" I'm supposed to withdraw the remaining 400k if I decide not to renew my visa again ?

Can't you go to an ATM ?? In this or any other country?

First I’ve heard of bank blocking withdrawal.Its IMO who will refuse the extension if funds withdrawn 

The bank doesnt care less whether you withdraw the money, its not blocked or cannot be taken out. You simply woudnt have the money in account to satisfy immigration nothing to do with the bank.

Edited July 15, 20196 yr by Peterw42

Your bank is not blocking your money!

Why so many people come up with new stories which are not true?

 

You can take out the money whenever you want. Even the 800'000 you can take out right after you go Immigration.

BUT you will become a problem with Immigration. If lucky mean next year you can't do extension. 

As we not have yet a report of what will happen after the 3 months you not have the 800'000 in the bank.. we can't know.. But for sure nothing to do with Bank

 

If for example you leave after Extension is granted, you can take the money out right away and don't care about the 3 months as wel!

Edited July 15, 20196 yr by HampiK

Why do you report the bank is blocking the money, this is not true.

 

You have access to the money and can withdraw any time you want but it may affect your visa extension.

7 minutes ago, HampiK said:

Your bank is not blocking your money!

Why so many people come up with new stories which are not true?

The sad thing is, this will probably be quoted as fact next week, "Thai bank blocks 400k withdrawal", it happend to a friend of a friend etc.

Chinese whispers. 

I'm not sure that the bank can block the remaining money. I just ask ! As the bank must certify the money deposit by a letter to immigration, do you think that she is not required to alert immigration if you withdraw the money before term ?

14 minutes ago, Gatsby69 said:

I'm not sure that the bank can block the remaining money. I just ask ! As the bank must certify the money deposit by a letter to immigration, do you think that she is not required to alert immigration if you withdraw the money before term ?

The bank certifies what your current account balance is - that is all - it is your account to use as you wish - bank has nothing to do with immigration rules or enforcement.

49 minutes ago, Gatsby69 said:

In other words my bank will block the remaining 400k until the end of my visa extension.

totally incorrect. it is your money. you can withdraw in anytime you want.

 

14 minutes ago, Gatsby69 said:

I'm not sure that the bank can block the remaining money. I just ask ! As the bank must certify the money deposit by a letter to immigration, do you think that she is not required to alert immigration if you withdraw the money before term ?

no the bank does not alert immigration.

I got my retirement extension a week ago and no one told me I had to keep any money in the bank.  I think you will find it is only at a couple of offices.  Check before you panic.

Edited July 15, 20196 yr by marcusarelus

54 minutes ago, Gatsby69 said:

In other words my bank will block the remaining 400k until the end of my visa extension.

Where do you get this nonsense from?Immigration are not able to command banks to effectively freeze your account directly. 

We have yet to learn how and if the 400k for the rest of the Extension will be checked and it can only be presumed it will be when you do a subsequent extension. If you do not plan to, you can withdraw the money. 

Edited July 15, 20196 yr by jacko45k

I do not think that you will have a problem withdrawing your money - bottomline - it is your money. However, you might get problems if you intend to transfer the money out of the country. To avoid this problem it would be good if you have a proof, that the money originally was transfered into Thailand from another country or that you had legally earned / taxed it in Thailand.

Thanks for answers ! Despite all these expert opinions, I am not convinced that I wouldn't have any problem at the Thailand exit border if I break the law requirement "... the alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,000".

1 minute ago, Gatsby69 said:

Thanks for answers ! Despite all these expert opinions, I am not convinced that I wouldn't have any problem at the Thailand exit border if I break the law requirement "... the alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,000".

There is no check of bank balance at the border. even if there was a check, any money seasoning requirement is usually to qualify for next years extension. The only way immigration can ever check the 400k bank balence is retrospectivly when you present for another extension.

 

The rules are tedious already without making up your own interpritation of them.

"....There is no check of bank balance at the border. even if there was a check, any money seasoning requirement is usually to qualify for next year extension. The only way immigration can ever check the 400k bank balance is retrospectively when you present for another extension."

Sorry, but you are wrong. The rule to get a next year extension is "THB 800,000 at least 2 months prior to filing date". The 400k remaining balance is for current extension.

And I'am agreed with you "The rules are tedious already..." that's why I ask before to make a 400k mistake.

 

56 minutes ago, marcusarelus said:

I got my retirement extension a week ago and no one told me I had to keep any money in the bank.  I think you will find it is only at a couple of offices.  Check before you panic.

Just because they did not tell you about the new rules does not mean you do not have to follow them.

It is in effect at all offices not just a couple.

1 hour ago, marcusarelus said:

I got my retirement extension a week ago and no one told me I had to keep any money in the bank.  I think you will find it is only at a couple of offices.  Check before you panic.

really? i think you need to keep that money in the bank for the period of time the new rules dictate. this kind of confusion is exactly what the immigration police want.

that is the nature of corruption.

42 minutes ago, ubonjoe said:

Just because they did not tell you about the new rules does not mean you do not have to follow them.

It is in effect at all offices not just a couple.

The only place I've heard about the new rules is Thai Visa and some posters at CW, and Jomtien and maybe CM.  Has there been any posting in an Immigration website or did I miss it?  I did ask an Immigration officer and he told me no such rule.  I really would like to know if it is on some Immigration website.  I'll go look.  Tried and can't get into the extension part of the Immigration site.  

Edited July 15, 20196 yr by marcusarelus

To the OP & marcusarelus :

 

Nobody can stop you to believe what you want to.

47 minutes ago, Gatsby69 said:

Thanks for answers ! Despite all these expert opinions, I am not convinced that I wouldn't have any problem at the Thailand exit border if I break the law requirement "... the alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,000".

sorry to say you are wrong. it is important to point out that you are creating this issue in your head.

you can take your money out anytime. then the next time you go to renew your extension, then you would have a issue with immigration. but you are talking about leaving Thailand for good. yes? just go to immigration and ask them.  

8 minutes ago, marcusarelus said:

The only place I've heard about the new rules is Thai Visa and some posters at CW, and Jomtien and maybe CM.  Has there been any posting in an Immigration website or did I miss it?  I did ask an Immigration officer and he told me no such rule.  

yes the nature of corruption.

Troll post reported and removed.  

 

56 minutes ago, Gatsby69 said:

Thanks for answers ! Despite all these expert opinions, I am not convinced that I wouldn't have any problem at the Thailand exit border if I break the law requirement "... the alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,000".

For heavens sake. Stop using the word LAW. Its not a law. Its a requirement to follow if you intend to apply for another permission of stay. Compliance will be checked at that time. My next extension will be this coming October. After obtaining that extension valid to Oct 2020, I can withdraw all the money. The consequence will be that next extension (based on money in bank) will be rejected. No jail time. 

And now come the dills stating that I have failed to meet requirements post obtaining my extension and technically on overstay, save the nonsense.

15 minutes ago, luckyluke said:

To the OP & marcusarelus :

 

Nobody can stop you to believe what you want to.

I always believe facts.  I asked an immigration officer and just got an extension and in both cases was told no requirement to come back and check or keep 400k in the bank. I just tried to access the Immigration site and can't get into the extension requirement part.  I'm just trying to get the facts.  Remember when it was posted here that mandatory insurance would be a fact on July 1st.   

21 minutes ago, marcusarelus said:

The only place I've heard about the new rules is Thai Visa and some posters at CW, and Jomtien and maybe CM.  Has there been any posting in an Immigration website or did I miss it? 

Everything posted on here was from police orders that were issued by immigration in Thai that were translated to English. They even had the number of the police order on them.

Every immigration office got a copy of the new police order so perhaps only the officer did not know about ir or it was a misunderstanding.

7 minutes ago, marcusarelus said:

I always believe facts.  I asked an immigration officer and just got an extension and in both cases was told no requirement to come back and check or keep 400k in the bank.

Going back for a check that the money is still in the bank is not in the police order.

Your post implied there was no such order about keeping the 800k baht for 3 months after the date of application and then 400k baht after that.

2 hours ago, Olmate said:

First I’ve heard of bank blocking withdrawal.Its IMO who will refuse the extension if funds withdrawn 

Not blocked unless it's a fixed deposit account. Either withdraw in one go at branch, or via number of ATM withdrawals.

1 minute ago, marcusarelus said:

I always believe facts.

Very well in normal circumstances.

Not sure in Thailand, and certainly not when Immigration is involved.

Now I don't doubt at all about what that particular officer said to you, at that particular office, at that particular day.

If you want to believe this is the only correct way and will be the case everywhere, any time, with all officers, is up to you.

46 minutes ago, marcusarelus said:

The only place I've heard about the new rules is Thai Visa and some posters at CW, and Jomtien and maybe CM.  Has there been any posting in an Immigration website or did I miss it?  I did ask an Immigration officer and he told me no such rule.  I really would like to know if it is on some Immigration website.  I'll go look.  Tried and can't get into the extension part of the Immigration site.