Bank account consolidation for annual retirement visa

[planemad]

Looking for advice and guidance regards financial requirements for annual retirement visa (this is not my first extension).  Let me explain my situation, I have a K account which pays interest, however, depending upon the interest rate on the day of deposit, the account shows (in my case) two sums, the total of which is above 800k. Sing Buri questioned it once but allowed it, but my reporting location has recently changed to Chai Nat where they seem less understanding and see it as two separate figures. I am not convinced that the bank letter confirming the total amount will be acceptable to them.  

In order to head off any problems when my annual report becomes due, I need to find an early solution

Maybe I should withdraw all the cash then re-deposit it back into the account, this way it will show a single interest rate and therefore a single total, above the 800k requirement. Does this seem logical?

I am a however a little concerned that should I use this method, my account would show a drop below 400k, so maybe if I withdraw 400k + in two separate transactions, therefore two events leaving the account above 400k but both with the same interest  rates, would this cause even more problems? Basically, what is the easiest way in which consolidate the account to provide a single total? My local bank seems unable to provide an answer.

What are the actual guidelines for an account in which to money for the visa is acceptable to immigration as I cannot find details within TV.

Any advice would be gratefully accepted

[allane]

I have a K-bank savings acct., and in the past, I had term deposits with them which I used for my retirement visa. I don't understand how a bank account can have two totals. Is one of them principal, and the other the earned interest ? Can you  elaborate on what the two totals are ?

[UKresonant]

When I read about the continuously captive 400k, within the 800k retirement  method I speculated that say 410k would be better placed in a separate Fixed Deposit account, (with instant access and only suffering loss of interest if withdrawn) to avoid such balance concerns.

 

I had one such account before in another, three month Fixed Interest, which just renewed, at the end of each three months. But that account was in another province years ago, the abandoned residual few thousand has probably evaporated by now or has 15 years compound interest.

 

If your bank adds it up, and certifies the total, really weird if they don't accepted it! 

 

[MeePeeMai]

58 minutes ago, planemad said:

Maybe I should withdraw all the cash then re-deposit it back into the account, this way it will show a single interest rate and therefore a single total, above the 800k requirement. Does this seem logical?

Just a thought - I'd be real careful withdrawing and then redepositing your money since they want to see that it came from abroad and this might be difficult to prove if they see the large cash deposit you made here in Thailand... regardless of the proof of withdrawal that you would have (you know how they always like to make things difficult for us).

[planemad]

Allane, some time ago, maybe 2 years, I withdrew 30K from the account (before the current restrictions), later I replaced that money. Now it shows in my bank book the sum, minus the 30k, and another entry with the 30K, ergo, 2 entries amounting to 800k + but split accordingly. Confuses the hell out of me, but.......

[ubonjoe]

28 minutes ago, MeePeeMai said:

Just a thought - I'd be real careful withdrawing and then redepositing your money since they want to see that it came from abroad and this might be difficult to prove if they see the large cash deposit you made here in Thailand..

Proof the funds came from abroad is not required to apply for an extension of stay.

It is only needed to a apply for a 90 day non immigrant visa entry.

[Martyp]

Just put enough money in the account so you always have 800,000.  

[allane]

13 hours ago, planemad said:

Allane, some time ago, maybe 2 years, I withdrew 30K from the account (before the current restrictions), later I replaced that money. Now it shows in my bank book the sum, minus the 30k, and another entry with the 30K, ergo, 2 entries amounting to 800k + but split accordingly. Confuses the hell out of me, but.......

As long as all of the required funds have been on deposit for the required 3 mo. it does not matter if some of the funds have been on deposit for longer. I have always used 6 mo. Term Deposits, with staggered maturities. On renewal day, some have been on deposit for 3 mo. (or slightly more), others for approximately 6 mo.