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seasoning on Retirement 800K


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Just a quickie.

 

If your retirement extension is due in July but you renew in June, when does the three month period after granting the extension begin when you can withdraw some money?

 

July at your due date or June when you actually renewed it?

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You have to keep the 800k baht in the bank for 3 months from the day you apply for the extension and then you can lower it to 400k baht.

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I just keep 800k in a seperate account, it's there year in year out, I would prefer to keep it in an interest bearing account but I cant be bothered going to the bank every few months to move it about.

 

I don't understand why immigration are against us keeping it in an interest earning account, most unfair in my book. 😦

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19 minutes ago, Golden Triangle said:

I just keep 800k in a seperate account, it's there year in year out

 Not what the OP is asking.

He can withdraw down to 400k three months after application for extension and back up to 800k two months prior to his next extension. 

Edited by DrJack54
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1 hour ago, Golden Triangle said:

I don't understand why immigration are against us keeping it in an interest earning account, most unfair in my book

May I ask what do you mean by that?

 

I am keeping the Money required in a Fixed Deposit account (oke not a lot of interest) and this has always been accepted.

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1 hour ago, Golden Triangle said:

I just keep 800k in a seperate account, it's there year in year out, I would prefer to keep it in an interest bearing account but I cant be bothered going to the bank every few months to move it about.

 

I don't understand why immigration are against us keeping it in an interest earning account, most unfair in my book. 😦

You have me confused with your comment.  I have had my 800K in a fixed deposit account for the past 3 years, and immigration has never said I can not do this. It is updated the day of my immigration appointment when I add another 1k Thb to it and they add the interest to the account and then set it for another 12 month time period.

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FYI.

In CM with stand alone 800,000K fixed deposit a/c.  Day of application get letter and pass book updated no need for recent/same day transactions. (int does not get paid in/withdrawn till about 5 months after application)

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21 hours ago, Golden Triangle said:

I just keep 800k in a seperate account, it's there year in year out, I would prefer to keep it in an interest bearing account but I cant be bothered going to the bank every few months to move it about.

 

I don't understand why immigration are against us keeping it in an interest earning account, most unfair in my book. 😦

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Just now, murraynz said:
21 hours ago, Golden Triangle said:

I just keep 800k in a seperate account, it's there year in year out, I would prefer to keep it in an interest bearing account but I cant be bothered going to the bank every few months to move it about.

 

I don't understand why immigration are against us keeping it in an interest earning account, most unfair in my book. 😦

Expand  

My 800k+ has always been in an interest bearing account.

The money is still accessable at any time..i seriously doubt if immigration cares or even knows,ehat type of account the money is in

 

 

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Posted (edited)

People,

Look the interest rate is bloody non existent in Thailand at the moment.

Why should I permanently lock up 800K for " absolutely no bloody reason " except to please some archaic Thai system.

I have dosh on deposit as I have said before, attracting interest at 5% to 6% in a bloody major bank in Cambodia for 12 years.

I do not feel it necessary to withdraw money from outside when there is 800K sat there doing nothing.

 

 

 

 

 

 

Edited by Scouse123
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26 minutes ago, Scouse123 said:

People,

Look the interest rate is bloody non existent in Thailand at the moment.

Why should I permanently lock up 800K for " absolutely no bloody reason " except to please some archaic Thai system.

I have dosh on deposit as I have said before, attracting interest at 5% to 6% in a bloody major bank in Cambodia for 12 years.

I do not feel it necessary to withdraw money from outside when there is 800K sat there doing nothing.

 

 

 

 

 

 

No need for a Rant about the financial requirements for extensions based on retirement.

You asked simple question in the OP and it was answered.

 

Want to keep your funds in Cambodia fine.

Use and agent to get around the financials.

 

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3 hours ago, Scouse123 said:

Why should I permanently lock up 800K for " absolutely no bloody reason " except to please some archaic Thai system.

So does not having to make 2 enforced trips to Bangkok at passport renewal time for us Brits for "absolutely no bloody reason" except to please some archaic British system at least equally (if not considerably more as it should IMHO) get your back up?

 

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48 minutes ago, OJAS said:

So does not having to make 2 enforced trips to Bangkok at passport renewal time for us Brits for "absolutely no bloody reason" except to please some archaic British system at least equally (if not considerably more as it should IMHO) get your back up?

 

Never happened as I renew in the UK in plenty time in advance

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4 hours ago, DrJack54 said:

No need for a Rant about the financial requirements for extensions based on retirement.

You asked simple question in the OP and it was answered.

 

Want to keep your funds in Cambodia fine.

Use and agent to get around the financials.

 

Not a rant,  just pointing out the obvious.

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41 minutes ago, Scouse123 said:

Not a rant,  just pointing out the obvious.

Their country their rules.

From pretty much start to finish you have pointed out that money in the bank won't work for you.

Fine.

Use an agent or move to Cambodia. 

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Another example of how a simple question becomes a cloud of tangent discussions on this forum.

 @ubonjoe and @DrJack54gave the answers at the top.

UK passport renewals and Cambodian banks could be addressed elsewhere please.

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Posted (edited)
14 hours ago, arithai12 said:

Another example of how a simple question becomes a cloud of tangent discussions on this forum.

 @ubonjoe and @DrJack54gave the answers at the top.

UK passport renewals and Cambodian banks could be addressed elsewhere please.

And I was grateful and happy with both of their helpful responses

 

Also I agree wth you

 

 

 

 

Edited by Scouse123
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14 hours ago, DrJack54 said:

Their country their rules.

From pretty much start to finish you have pointed out that money in the bank won't work for you.

Fine.

Use an agent or move to Cambodia. 

If I am not mistaken the 800K rule which allowed you to withdraw 400K is a recent introduction.

The whole point of this money was to show you had ample funds to look after yourself  per annum and not be a burden to Thailand, right?

Now, they want you to retain 400K no matter what, in the bank and leave it untouched.

I am fully insured even though I am on a Non B extension and don't need to be by their rules.

I have full health insurance etc  I behave responsibly regarding my extension requirements.

I won't use an agent as I like to be legal.

I won't move to Cambodia because I am in a LTR for 25 years and there is no way my other half would move to Cambodia and nor would I, as I  would get bored after a week! 😊

That's it, that's me, that's all.

 

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1 hour ago, Scouse123 said:

I won't use an agent as I like to be legal

The change in funds in bank requirements changed think about 2019.

You have had ample time to set up monthly transfers and use that method.

65k transfer per month. 

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17 minutes ago, DrJack54 said:

The change in funds in bank requirements changed think about 2019.

You have had ample time to set up monthly transfers and use that method.

65k transfer per month. 

Already stated what I have to say, and you seem to have taken it the wrong way, when that was not my intention.

 

Up to you. I am not here for an argument.

 

I'll make no further comments on the matter.

 

 

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