800k in Bank for retirement purposes

[paulgosal]

Can I use 2 Banks statements (Kasikorn and Bangkok Bank) to make up the required 800k for Jomtien imigration for extention of 1 years stay ?. Or does the money have to be in a Single Bank Account ? Many thanks

[Jingthing]

The answer I've been given multiple times at Jomtien is YES although I haven't tried it.

 

HOWEVER this was before the new onerous money seasoning rules where you need to show 800K for three months after your extension and no lower than 400K for the rest of the year before the next year's two months new seasoning at 800K.

 

So with this new regime, it will be more work for you (and immigration) to deal with multiple bank accounts.

 

So the answer is still probably OK but not recomendable!

[looplaw]

I would ask Jomtien Immigration.

[Jingthing]

1 minute ago, looplaw said:

I would ask Jomtien Immigration.

Of course I agree because the YES answers I've received were BEFORE the new onerous seasoning rules. 

 

However, I still think they will probably say yes as it's more work for the expat than for them to deal with complying with the new rules with multiple accounts.

[Toadie]

Yes but cannot promise they can add up and you will get the question why 2 banks. Why? Just because.

[Jingthing]

I don't think it's an issue to have multiple accounts per se but the mechanics of them adding up for all the needed seasoning is the problem. I have three accounts here. 

[jacko45k]

6 hours ago, Jingthing said:

I don't think it's an issue to have multiple accounts per se but the mechanics of them adding up for all the needed seasoning is the problem. I have three accounts here. 

Many do, but the 800k stays in a particular one. Why would I make life difficult. Multiple books, multiple copies, multiple bank letters, perhaps move 100 baht between the accounts to get an update. What a faff. 

[dotpoom]

12 hours ago, Jingthing said:

Of course I agree because the YES answers I've received were BEFORE the new onerous seasoning rules. 

 

However, I still think they will probably say yes as it's more work for the expat than for them to deal with complying with the new rules with multiple accounts.

Could always ask again AFTER the new onerous seasoning rules came in?

[Emdog]

If you go that route, be sure to bring a calculator with you when visiting immigration...

[Jingthing]

3 hours ago, jacko45k said:

Many do, but the 800k stays in a particular one. Why would I make life difficult. Multiple books, multiple copies, multiple bank letters, perhaps move 100 baht between the accounts to get an update. What a faff. 

Yes of course much better to avoid it if possible but there are personal situations where it couldn't. 

 

BTW bank letters cost 200 baht at my SCB branch. 

[Jingthing]

1 hour ago, Emdog said:

If you go that route, be sure to bring a calculator with you when visiting immigration...

Even better provide a paper with the sum of the accounts for each and every transaction during the seasoning period being looked at. Then the officer doesn't need to do any work except to eyeball the numbers. Anyway that's what I would do. It's meeting them half way. 

[Jingthing]

2 hours ago, dotpoom said:

Could always ask again AFTER the new onerous seasoning rules came in?

Already mentioned. 

[J Town]

I have two Thai accounts, one for the retirement money (plus a "just in case, no surprises" buffer) and the other for monthly expenses. This keeps things VERY clean. Why wouldn't you do the same?

[Jingthing]

22 minutes ago, J Town said:

I have two Thai accounts, one for the retirement money (plus a "just in case, no surprises" buffer) and the other for monthly expenses. This keeps things VERY clean. Why wouldn't you do the same?

Just imagine for a moment that not every person handles their finances in exactly the same way for countless different specific reasons. 

[J Town]

1 minute ago, Jingthing said:

Just imagine for a moment that not every person handles their finances in exactly the same way for countless different specific reasons. 

That's why the question in the first place.

[wgdanson]

4 hours ago, Emdog said:

If you go that route, be sure to bring a calculator with you when visiting immigration...

They have their own in order to calculate how much change they should give you after you pay your Bht 1900 extension with Bht 2000.    LOL

[Jingthing]

1 minute ago, J Town said:

That's why the question iniu the first place.

I could explain why I have three accounts and have never done it as you describe because that wouldn't work for me but that's too boring and I have very specific personal reasons. The OP didn't ask if he should have multiple accounts or why people should or shouldn't. That's really OFF TOPIC. The question was can he use two accounts for immigration purposes at Jomtien. When I have asked about that in the past the reactions were quick yesses and it was clear also that such cases aren't particularly rare either. 

[Max69xl]

5 hours ago, Jingthing said:

Yes of course much better to avoid it if possible but there are personal situations where it couldn't. 

 

BTW bank letters cost 200 baht at my SCB branch. 

 100 baht at Bangkok Bank. 

[revup]

4 hours ago, J Town said:

I have two Thai accounts, one for the retirement money (plus a "just in case, no surprises" buffer) and the other for monthly expenses. This keeps things VERY clean. Why wouldn't you do the same?

Leaving so much money in a current account costs quite a bit of lost interest compared to its being in a contract account.

[Suradit69]

5 hours ago, wgdanson said:

They have their own [calculators] in order to calculate how much change they should give you after you pay your Bht 1900 extension with Bht 2000.    LOL

Maybe you could borrow a calculator from them:

 

On 9/27/2019 at 7:24 AM, watkoh said:

My budget is 500,00 baht per year.

 

On 9/27/2019 at 7:39 AM, wgdanson said:

Bht 10,000 a month will not get you very far. Stay where you are.

 

[Guest]

The need to retain 400,000 for most of the year, and 800,000 for the remaining portion is non-negotiable.  It is hard to think of a scenario where the obvious and easy path is to keep those balances in ONE bank.  I have my "Retirement" account in Krungsri.  I have my "Living" account in Bangkok Bank (where my monthly Social Security payments are REQUIRED to be deposited)

Really:  Why complicate such an easy system?  But, if you want to spend hours with unhappy immigration officers really annoyed that you split your accounts and now it is THEIR job to do an annual running total ... "up to you" .. but do not be surprised if they stretch this out into two days.

By the way ... when those offices see an 800,000 + number year in and year out ...  year after year ... those renewal stamps are pretty darn easy to get.

[murraynz]

7 hours ago, Max69xl said:

 100 baht at Bangkok Bank. 

200baht at BKK bank second rd.today