Jump to content

moving my retirement visa funds


Recommended Posts

I just received my new one-year visa extention for retirement.  For personal reasons, I want to move my 800,000 baht to another bank as soon as possible.  I assume any time after 3 months from the new visa date is appropriate.  Will I then need paperwork from both the old and new banks when I renew the visa in 2022?  Any potential complications?

Link to post
Share on other sites

17 minutes ago, Phulublub said:

A recent thread had similar topic...suggest wait until after 90 day 800,000 requireent passed, then move in two tranches of 400,000 so that you never go below 400,000 at any time in either account. 

 

Yes you will need both books.

 

PH

To be on the safe side, agree. Although I did note when I renewed my extension in November in Chiang Rai, a bank statement which only went back 6 months prior was acceptable. Probably because the bank book itself showed the 800K had been on deposit for 5 - 6 years, untouched.  Wouldn't it be nice if every Immigration office had the same rules?

  • Like 1
Link to post
Share on other sites

30 minutes ago, Lazinonthebeach said:

I just received my new one-year visa extention for retirement.  For personal reasons, I want to move my 800,000 baht to another bank as soon as possible.  I assume any time after 3 months from the new visa date is appropriate.  Will I then need paperwork from both the old and new banks when I renew the visa in 2022?  Any potential complications?

I had a similar issue recently and decided on transferring the day after receiving my extension, it left one bank and settled in another bank the same day so never fell below 800k and remember you can use more than one bank account for the 800k, so in theory shouldn't be a problem but I'll see next year. I plan to take both books and copy pages in both

Link to post
Share on other sites

I seem to recall someone was given a hard time by their IO when they transferred to a new bank account. Can't give details nor recall the outcome.

I have the same dilemma, I need to change banks as my current one doesn't have a branch anywhere close to my new address.

  • Like 2
Link to post
Share on other sites

On 2/3/2021 at 6:17 PM, Lazinonthebeach said:

I just received my new one-year visa extention for retirement.  For personal reasons, I want to move my 800,000 baht to another bank as soon as possible.  I assume any time after 3 months from the new visa date is appropriate.  Will I then need paperwork from both the old and new banks when I renew the visa in 2022?  Any potential complications?

This is Thailand. You don't ask if there are any potential complications, you ask how many. 😀

Link to post
Share on other sites

3 hours ago, Old Croc said:

I seem to recall someone was given a hard time by their IO when they transferred to a new bank account. Can't give details nor recall the outcome.

I have the same dilemma, I need to change banks as my current one doesn't have a branch anywhere close to my new address.

Why give yourselves potential problems?  Unless you NEED to change banks NOW, then wait until you can drop to 400,000, then transfer that amount to your new account and, once it is confired as showing, then transfer the remainder?

 

Yes, you can do the lot in one go, yes you can do it during the 800,000 minimum windows - but why give an IO any chance to try and tell you you have not got the required minimums?

 

PH

  • Like 1
  • Thanks 1
Link to post
Share on other sites

On 2/3/2021 at 6:51 PM, scubascuba3 said:

I had a similar issue recently and decided on transferring the day after receiving my extension, it left one bank and settled in another bank the same day so never fell below 800k and remember you can use more than one bank account for the 800k, so in theory shouldn't be a problem but I'll see next year. I plan to take both books and copy pages in both

 

 

You forgot to disclose there'll be a charge from each bank for the Immigration letter.

 

 

Link to post
Share on other sites

1 hour ago, Andy from Kent said:

 

 

You forgot to disclose there'll be a charge from each bank for the Immigration letter.

 

 

not for me, but for those using more than one bank account it's about 100 baht each, not expensive? 

Link to post
Share on other sites

4 hours ago, Phulublub said:

Why give yourselves potential problems?  Unless you NEED to change banks NOW, then wait until you can drop to 400,000, then transfer that amount to your new account and, once it is confired as showing, then transfer the remainder?

 

Yes, you can do the lot in one go, yes you can do it during the 800,000 minimum windows - but why give an IO any chance to try and tell you you have not got the required minimums?

 

PH

In the case to which I referred, the poster said his IO didn't accept the fact that his money was in 2 bank accounts during that year despite his deposits never dropping below the criteria. Sorry, I can't give a link.

I always try to avoid problems, and that would include a scenario like I described above. However, it seems others have succeeded when changing accounts without that hassle.

 

I have sufficient funds to open another account without dropping below the required amounts in either. My whinge relates to having to travel a fair distance out of my way to a strange branch to get the required bank paperwork for my extension this time. I thought I had conveyed that in my other post.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...