800k in the bank for Extension of Stay Based on Retirement?

[el jefe]

I have 3 questions regarding my wife's next Extension of Stay Based on Retirement using the money in the bank method.

I searched the first 4 pages of this forum and couldn't find an answer. Hopefully these are pretty simple.

1. She uses the Chiang Mai Immigration office. Her current extension expires on 5 December 2019. She would like to renew on approximately 1 November 2019. Is the current rule still that she needs the 800k for 2 months before she applies, meaning 1 September 2019?

2. In the past we have used an ACH transfer from my US bank to my savings account at Bangkok Bank and then did a withdrawal from my account and a deposit of the exact same amount into her account. Will the ACH transfer still work? Are there any new problems with this method?

3. Can she open Time Deposits with the 800k baht at any time?

Thanks!

[ubonjoe]

1. It is 2 months before the date of application. Correct September 1st for before.

2. If you have done transfers via New York before it should still work for you. After September it will need to done in the IAT format for the transfer to be done.

3. She would have to set up a fixed term account before the the 2 months requirement starts. During the 2 months it could cause problems when she applies.

[el jefe]

Thank, Joe.
if she sets up 3 bank accounts (a time deposit for 400k for 1 year, a time deposit for 300k for 6 months, and a savings account for 100k+) that shouldn't be a problem, as long as the total is over 800k, right?

And she won't be moving any funds within the last 60 days before she applies for the new extension.

[ubonjoe]

Immigration will accept the 800k baht being in more than one account but some officers will not be happy about it.

She will need bank letters for each account.

[asiaexpat]

I have used two accounts but three could be stretching ones luck. I used 400 in fixed and 400 in savings.

[TigerandDog]

6 hours ago, ubonjoe said:

Immigration will accept the 800k baht being in more than one account but some officers will not be happy about it.

She will need bank letters for each account.

Chiang Mai have only been accepting the money in 1 account recently. Had a friend who had 2 bank accounts, clearly had the 800k, met the seasoning but was told it would not be accepted. Fortunately for him he was only making an enquiry, so he still had time to transfer the funds into a single account and meet the 2 month seasoning requirement before submitting his extension renewal application. Once the funds were in the single account submitted his extension renewal successfully.

[laislica]

CM used to allow the application at 45 days before.

I make my ext in Samut Sakhon now and I asked if I could have the money tied up in a savings account for one year and they said that is OK.

Previously it was tied up for 3 mths.

I'll know for sure when I apply in February....

As long as the money is accessible it should be OK.

If I needed the money, I could take it but at the loss of interest, so that's OK.

 

I actually have a million in the account  so the 200k is my fallback for a medical emergency.

 

I understand that the 800k must remain at 800k for 3 mths after and thereafter may not drop below 400K.

[TGIR]

One thing I haven't heard discussed:  Does one have to prove where the 800 thousand came from?  I've opened a savings account for that use next year, but it came from money I already had here.

 

 

 

 

 

[ubonjoe]

47 minutes ago, TGIR said:

Does one have to prove where the 800 thousand came from?

Not for a extension of stay application.

It is only needed if applying for a non-o visa immigration.

[Treebeard]

1 hour ago, ubonjoe said:

Not for a extension of stay application.

It is only needed if applying for a non-o visa immigration.

Hi ubonjoe. Is this new? There were so many posts saying the money had to show as FTT International transfer, especially after some of the transfers with TransferWise were showing as Interbank.

 

Thank you.

 

[ubonjoe]

2 minutes ago, Treebeard said:

There were so many posts saying the money had to show as FTT International transfer, especially after some of the transfers with TransferWise were showing as Interbank.

It has never been required to for the 800k baht option.

Most people concerned about it is due to them wanting to use transfers to prove their income for their extension application. It is only need for that option.

[Treebeard]

2 minutes ago, ubonjoe said:

It has never been required to for the 800k baht option.

Most people concerned about it is due to them wanting to use transfers to prove their income for their extension application. It is only need for that option.

So, you do not need to prove where the 800K comes from, just make sure it is in the bank 2 months before? and then keep it there.

 

Thanks.

[fishtank]

1 hour ago, Treebeard said:

So, you do not need to prove where the 800K comes from, just make sure it is in the bank 2 months before? and then keep it there.

 

Thanks.

Correct.

[Treebeard]

Thanks ubonjoe and fishtank ????

[Geordie59]

I thought the 800k had to be in the bank for 3 months before a retirement extension. 

Isn't 2 months only for the initial year. 

[onera1961]

14 hours ago, TGIR said:

One thing I haven't heard discussed:  Does one have to prove where the 800 thousand came from?

It has been discussed multiple times. Posting the same question is the favorite hobby of TV posters. 

[el jefe]

43 minutes ago, Geordie59 said:

I thought the 800k had to be in the bank for 3 months before a retirement extension. 

Isn't 2 months only for the initial year. 

That's the old rule. New rule is 2 months before and 3 months after.

[TGIR]

10 hours ago, onera1961 said:

It has been discussed multiple times. Posting the same question is the favorite hobby of TV posters. 

Hey, at 75 I'm certainly not the sharpest tool in the box.....I don't read every single post every day.

[looplaw]

10 hours ago, el jefe said:

That's the old rule. New rule is 2 months before and 3 months after.

It's depends on which immigration office you apply at. Some require 3 month before.

[el jefe]

23 minutes ago, looplaw said:

It's depends on which immigration office you apply at. Some require 3 month before.

OK. I started this thread. I'm under the assumption that Chiang Mai Immigration is following the "2 months before and 3 months after" rule. Is that correct?

[jacko45k]

23 hours ago, Geordie59 said:

I thought the 800k had to be in the bank for 3 months before a retirement extension. 

Isn't 2 months only for the initial year. 

Not true, that changed early this year to be 2 months before (plus 3 months after) in all cases. Sadly not 100% of all Immigration offices 'got the memo', a few smaller ones, still ask for the 3 months. So important you say where you will apply.