For a retirement extension the bank deposit needs to stay in the bank for three months - but what if I withdraw my money sooner?

 

If I get a retirement extension based on the combo method. But then decide to close my bank account and leave Thailand in a couple months, due to covid, is there a problem?  BKK Bank will let me withdraw all of my money and close my account?

If you do not meet the 800k baht for 3 months after and the 400k baht after that your next extension will application will be denied.

The bank would allow you to remove you funds since they cannot do that.

Just now, ubonjoe said:

If you do not meet the 800k baht for 3 months after and the 400k baht after that your next extension will application will be denied.

The bank would allow you to remove you funds since they cannot do that.

 

That's what I figured... probably a dumb question. But thanks ubonjoe for sharing your wisdom once again. I just wanted to be certain.

 

If I ever come back to Thailand it would be years from now, and would just start over on a new Non-O visa, new bank account, etc. But I am pretty sure I am leaving Thailand forever. I am sure I will miss this country and the Thai people. I have lived here for over nine years. 

35 minutes ago, 1cosmo said:

For a retirement extension the bank deposit needs to stay in the bank for three months - but what if I withdraw my money sooner?

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

But practically immigration won't know about it if you just leave Thailand after this because they won't check your bank book when leaving.

Just now, jackdd said:

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

But practically immigration won't know about it if you just leave Thailand after this because they won't check your bank book when leaving.

 

Thanks, something to consider. Actually I will just be transferring my money to BKK Bank savings and K Bank savings accounts, and leaving it here for many months. If I was ever asked about my money not being in my bank account I used for my retirement extension, I might be ok still. 

Ubonjoe,

I have always wondered , how does the immigration know whether I used the income or deposit method ? 
 

let’s say for example the op takes the money out before three months and later before he renews it , he puts in the deposit 2 months before abd apply and tell them he used the income method .

How does the immigration know what method you used . 
 

Do they ask you for proof what you used last year ? Is this how immigration know by asking for proof? 
 

 

 

22 minutes ago, Alotoftravel said:

I have always wondered , how does the immigration know whether I used the income or deposit method ?

The will have your previous extension in their files to look at.

The may even have a notation about it in their computer records.

18 hours ago, jackdd said:

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

Interesting interpretation. 

How about those who get an extension by the international transfer of 65K per month for 12 months?  If, after getting their extension, they later miss a month (or just stop transferring altogether), does their extension end that month?

Immigration also keep the original of the 800K Bank letter of confirmation with your application documents.

18 hours ago, jackdd said:

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

 

There has been speculation about this since the new policy went into effect a couple of years ago, but I've never seen any official statement that this is actually the case.

 

Maybe I missed something, but as far as I can recall, all the forum members who have reported on their experiences applying for an extension after screwing up the bank deposit requirement have only had their extension denied - I don't remember hearing of anyone being slapped with a 20k overstay fine and deportation. 

18 hours ago, jackdd said:

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

But practically immigration won't know about it if you just leave Thailand after this because they won't check your bank book when leaving.

if he can wait for the 3 months for wit drawing  he could be quit safe until the new ext, date for application , which would of course become denied because of it ...

23 minutes ago, JTXR said:

How about those who get an extension by the international transfer of 65K per month for 12 months?  If, after getting their extension, they later miss a month (or just stop transferring altogether), does their extension end that month?

That is not the same since proof of income is only required for the previous 12 months to apply the extension.

There is no rule that states you have to keep puting the money in the bank.

12 minutes ago, ubonjoe said:

That is not the same since proof of income is only required for the previous 12 months to apply the extension.

There is no rule that states you have to keep puting the money in the bank.

Some I.O.'s dispute that by making even rule it must be around same day of month (for their own comfort of calculating) 

Same as always in Thailand ....interpretation and the rule the I.O. can ask additional things ...

 

 But UbonJoe you are as always 100% right about the written I.O. police rules ...., only them on their desk are the ones who decide how to read an use them

Edited January 15, 20215 yr by david555

I believe the time honored way forward is a bribe, either directly or via an agent

Edited January 15, 20215 yr by Orton Rd

19 hours ago, jackdd said:

Technically the day you withdraw the money your extension ends and if you stay after this you are on overstay.

But practically immigration won't know about it if you just leave Thailand after this because they won't check your bank book when leaving.

In the very beginning with the new deposit rule, some immigration offices did ask people on retirement extension to bring their bankbook when doing 90-day address report; however, now they seemed to have stopped doing it, so one only loose the next possibility for extension of stay, if withdrawing more than the required minimum.

4 hours ago, Orton Rd said:

I believe the time honored way forward is a bribe, either directly or via an agent

Someone has to say it.

My last extension I was asked to get 12 months bank statements because I had not bothered updating my passbook every month (which has more than twice the requirement in ) so they do check.

But to withdraw directly after if definite on  leaving the country & no renewal required I am sure would cause no problems

Thank goodness there are agents. What a joke having to keep 400k (or 800k for ret. ext) in some Thai bank account and having to do all the other loop-jumping, printing-off of tree forests and reporting and waiting around for hours at IO's.

 

 

 

Edited January 15, 20215 yr by Nemises

22 hours ago, Alotoftravel said:

Do they ask you for proof what you used last year ? Is this how immigration know by asking for proof? 
 

Yes, if you are renewing a retirement extension based on money on deposit, they will want to verify that you maintained the monetary conditions of the previous extension. I personally provided bank book copies that covered 12 months. As usual I had the original book with me if asked for. 

15 hours ago, Nemises said:

Thank goodness there are agents. What a joke having to keep 400k (or 800k for ret. ext) in some Thai bank account and having to do all the other loop-jumping, printing-off of tree forests and reporting and waiting around for hours at IO's.

 

Nobody forces you to keep 400/800K in a Thai bank.

There are alternatives such as transfers of 40/65K per month, Embassy Income letters for all but 3 nationalities, and Combo method for retirement.

 

For those of us married to a Thai we've made provisions for our wife to have an inheritance and prefer to keep funds in a Thai bank for ease of access.

 

If you consider preparing a few copies of documents a real hoop jumping exercise, then you must find doing the washing a real choir.