Best time to transfer the 800K to another account?

[giddyup]

13 minutes ago, hotandsticky said:

Up to you, it is your money. 

 

If it scares you, keep 800k in your account for 5 months then move 400k to joint account. When you get to 2 months before your extension application date move 400k back.

 

 

You can't use the joint account for Immigration purposes.

The risk I was responding to was not keeping the 800K in the bank for the required time and being refused an extension next time I applied. I did use a joint account (more than 1.6 mil.) in the beginning of my 13 year stay, but the rules may have changed since then.

Edited November 14, 2022 by giddyup

[couchpotato]

1 hour ago, hotandsticky said:

 

...but few people bother and there are no repercussions.

beg to differ on that...it is a must have at Jomtien.

[couchpotato]

1 hour ago, giddyup said:

The bank has said that can't have a joint account on a term deposit account. I think a will is the only way to go.

Interest rates are so low, then having a deposit account doesn't earn must interest over a year. So why not change to a normal savings account, and then the ideas of other posters on ATM card, online banking etc can be realised.

[giddyup]

Just now, couchpotato said:

Interest rates are so low, then having a deposit account doesn't earn must interest over a year. So why not change to a normal savings account, and then the ideas of other posters on ATM card, online banking etc can be realised.

I agree. My question was, when is the best time to do this so I still comply with Immigration's rules? If I just transfer the 800K to a joint account I'll be showing a different account next time I do my extension. Knowing how picky and pedantic Immigration can be I don't want to confuse them in any way.

[worgeordie]

1 hour ago, giddyup said:

If it's not a joint account how can she have access to it? Which bank are you using? Different banks have different rules.

Bangkok bank , SCB , Thai Farmers Bank,*  the banks that cannot do it,

are the former Thai banks that have been taken over by Foreign banks ,

she can have access to it because  her signature   is in back of the book

next to where yours is , both hidden  except by UV Black light , that up to

now Immigration dont check , to to put it simply you and her signatures

are in back of the book, ONLY you name is shown in as account holder..

*whatever is called now

regards worgeordie

[Lacessit]

2 hours ago, giddyup said:

The bank has said that can't have a joint account on a term deposit account. I think a will is the only way to go.

I have a joint account with my GF that has enough money to last her for a year or more.

My will takes care of everything else, I understand probate in Thailand takes about 6 months.

[hotandsticky]

40 minutes ago, couchpotato said:

beg to differ on that...it is a must have at Jomtien.

No it isn't.

 

There are dozens of posts about people (myself included) that have not attended the '3 month appointment' and nothing has happened. Fact.

[hotandsticky]

17 minutes ago, worgeordie said:

Bangkok bank , SCB , Thai Farmers Bank,*  the banks that cannot do it,

are the former Thai banks that have been taken over by Foreign banks ,

she can have access to it because  her signature   is in back of the book

next to where yours is , both hidden  except by UV Black light , that up to

now Immigration dont check , to to put it simply you and her signatures

are in back of the book, ONLY you name is shown in as account holder..

*whatever is called now

regards worgeordie

Tell me one Thai bank that has been taken over by Foreign banks......that statement gives you no credibility.

[hotandsticky]

31 minutes ago, giddyup said:

I agree. My question was, when is the best time to do this so I still comply with Immigration's rules? If I just transfer the 800K to a joint account I'll be showing a different account next time I do my extension. Knowing how picky and pedantic Immigration can be I don't want to confuse them in any way.

Once more, you can't use a joint account.

[couchpotato]

16 minutes ago, hotandsticky said:

No it isn't.

 

There are dozens of posts about people (myself included) that have not attended the '3 month appointment' and nothing has happened. Fact.

The post you replied too, was about keeping money at 800k for 3 mths after your extension, nothing to do with the 3 mth appointment.

So you took the post out of context...

[hotandsticky]

5 minutes ago, couchpotato said:

The post you replied too, was about keeping money at 800k for 3 mths after your extension, nothing to do with the 3 mth appointment.

So you took the post out of context...

Apologies for that......I thought you were referring to the appointment...

 

For clarification, everyone should keep to required balance limits of 800k for 5 months (2 before, 3 after) and never drop below 400k.

[giddyup]

20 minutes ago, hotandsticky said:

Once more, you can't use a joint account.

Have you put this to the test, or do you know someone that's been refused? Because I did use a joint account (over 1.6 mil.) in the first few years I was here.  It also appears that different Immigrations have different rules.

[giddyup]

Just now, hotandsticky said:

Apologies for that......I thought you were referring to the appointment...

 

For clarification, everyone should keep to required balance limits of 800k for 5 months (2 before, 3 after) and never drop below 400k.

Not sure what you mean by the "appointment". The paper they give you to be returned after 90 days doesn't require an appointment.

[hotandsticky]

Just now, giddyup said:

Have you put this to the test, or do you know someone that's been refused? Because I did use a joint account (over 1.6 mil.) in the first few years I was here.  It also appears that different Immigrations have different rules.

I think you have answered your own question.........different offices may well have different 'rules'.  I was told by Buriram that I couldn't use a joint account and I 99% certain I have read the same comments on here about other offices - you can but ask, but do so before moving money around.

[hotandsticky]

4 minutes ago, giddyup said:

Not sure what you mean by the "appointment". The paper they give you to be returned after 90 days doesn't require an appointment.

 

It is an appointment to return on a set date  -  which is not exactly 90 days from application or extension date.

 

 

I have just checked my 'appointment letter'....issued on 14 June with a requirement to attend counter 8 on 11 September. My extension date is 19 June.

Edited November 14, 2022 by hotandsticky

[giddyup]

14 minutes ago, hotandsticky said:

 

It is an appointment to return on a set date  -  which is not exactly 90 days from application or extension date.

 

 

I have just checked my 'appointment letter'....issued on 14 June with a requirement to attend counter 8 on 11 September. My extension date is 19 June.

The letter you are talking about just gives a date 90 days from the new extension date. Doesn't mean it has to be returned on that date, or even returned at all as there is no record made or receipt given for it's return. The last time I returned my letter I just dropped it off at the door, didn't even go inside. This is at Jomtien office, may be different at other places, same with the joint bank accounts. One size does not fit all.

Edited November 14, 2022 by giddyup

[hotandsticky]

1 minute ago, giddyup said:

The letter you are talking about just gives a date 90 days from the new extension date. Doesn't mean it has to be returned on that date, or even returned at all as there is no record made or receipt given for it's return. This is at Jomtien office, may be different at other places, same with the joint bank accounts. One size does not fit all.

 

 

I am talking about Jomtien.

 

The letter specifically says PLEASE SHOW AN UPDATED BANK BOOK TO IMMIGRATION ON .....11 September       

 

 

(the capitals are from Immigration, not me)

[giddyup]

12 minutes ago, hotandsticky said:

 

 

I am talking about Jomtien.

 

The letter specifically says PLEASE SHOW AN UPDATED BANK BOOK TO IMMIGRATION ON .....11 September       

 

 

(the capitals are from Immigration, not me)

It actually asks for a photocopy of the updated bankbook, as well as passport and current extension page. I never went inside to show anything, the guy on the door said he'd give it to desk 8.

[Mike Teavee]

3 hours ago, hotandsticky said:

Take the balance down to 400k immediately after getting your extension.

 

If you live for another 10 months transfer 400k back 2 months before the next extension application.

 

Then follow the advice of Peterw42 above when it becomes necessary.

Do not do this... The 800K has to be in your account for 3 months after your extension so taking it down to 400K immediately after is a very bad idea. 

 

 

OP Ask at your bank, I believe it's possible to add your Partner as a Joint Account holder without them showing up as a named account holder when it comes to extension time. 

 

Edited November 14, 2022 by Mike Teavee

[hotandsticky]

5 minutes ago, giddyup said:

It actually asks for a photocopy of the updated bankbook, as well as passport and current extension page. I never went inside to show anything, the guy on the door said he'd give it to desk 8.

No it doesn't.

 

It specifically asks for only 2 things...."COPY YOUR BANK BOOK AND COPY OF THE PASSPORT"......verbatim..

[Mike Teavee]

3 hours ago, hotandsticky said:

 

...but few people bother and there are no repercussions.

Nobody checks if you've done the 3 month report but what about when it comes to doing your next extension? 

 

[hotandsticky]

1 minute ago, Mike Teavee said:

Do not do this... The 800K has to be in your account for 3 months after your extension so taking it down to 400K immediately after is a very bad idea. 

 

 

OP Ask at your bank, I believe it's possible to add your wife as a Joint Account holder without her showing up as a named account holder when it comes to extension time. 

 

 

I agree.....I was wrong to suggest immediate withdrawal of 400k after 2 months.........unless (as this about estate planning) you do not expect to make it to the next expiry date.

[hotandsticky]

1 minute ago, Mike Teavee said:

Nobody checks if you've done the 3 month report but what about when it comes to doing your next extension? 

 

That don't check. If they do, they ignore it.

 

They are only concerned at the time of application that you have conformed with the balance requirements of the previous approval ie 800 k for 5 months, then not less than 400k.

[Liquorice]

3 hours ago, giddyup said:

The 800K is in a term deposit account, no ATM card.

There are two things you can do.

1. Make a Will leaving the funds to your g/f.
2. Add her to your FT account by way of power of attorney at the bank. Her name does not appear on any letters, the passbook or any statements in this situation.

 

In the case of being legally married, if either one of the above is followed, the bank will immediately release funds on proof of a death certificate.
In the case of a g/f the bank requires a Court Order to release the funds, but either of the above two steps shows your intent to the Court and very easy to obtain the Court order.

[Mike Teavee]

Just now, hotandsticky said:

That don't check. If they do, they ignore it.

 

They are only concerned at the time of application that you have conformed with the balance requirements of the previous approval ie 800 k for 5 months, then not less than 400k.

TBH I use an agent to make things easier for me (I do keep the 800K in the account all year around) & though they took photocopies of my bank book (there were amalgamated entries in there that I know wouldn't be acceptable at Bangkok/CW Immigration even when using an agent) they only seemed interested in me getting a 3 month statement (done in 10 minutes) from my Bank. 

 

They didn't even bother to tell me I needed to go back after 3 months to show I still had the money in the account so either it's a hidden "Perk" of using an agent or Jomtien IO is not bothered whether you do it or not (Same in Bangkok, have never been given a slip to go back, I used an agent to do all the paperwork for me there as well).

 

 

 

[hotandsticky]

1 minute ago, Mike Teavee said:

TBH I use an agent to make things easier for me (I do keep the 800K in the account all year around) & though they took photocopies of my bank book (there were amalgamated entries in there that I know wouldn't be acceptable at Bangkok/CW Immigration even when using an agent) they only seemed interested in me getting a 3 month statement (done in 10 minutes) from my Bank. 

 

They didn't even bother to tell me I needed to go back after 3 months to show I still had the money in the account so either it's a hidden "Perk" of using an agent or Jomtien IO is not bothered whether you do it or not (Same in Bangkok, have never been given a slip to go back, I used an agent to do all the paperwork for me there as well).

 

 

 

Buriram never asked you to return after 3 months and I don't think Khon Kaen do.

 

 

I have only experienced it as a requirement in Jomtien.

[jacko45k]

3 hours ago, Peterw42 said:

As above, I was still operating my fathers accounts back in Australia months after he passed. Dividends where still coming in, direct debits where still going out, bills still needed to be paid. I even paid for his funeral from that account.

I don't think what happens in Australia is at all relevant. In fact, if one bases behaviour here on Oz experiences, you are being foolish. I do not see how you can operate another person's account legally..... you have no right without power of attorney or completion of probate. I have been through that too....

More importantly, I have been in Thailand when friends pass.

[jacko45k]

3 hours ago, hotandsticky said:

 

When I used Buriram they never mentioned the 3 month rule and you do not have to return. Now I deal with Jomtien who give you an appointment letter. As @Jingthinghas frequently pointed out, few people bother with it and there are NO repercussions. IO's invariably only check bank statements for 800k being in for 2 months - and that, overall, the balance has not dropped below 400k.

I read one post here where someone had allowed his account to go low, during the term of his extension, and had been pulled up on it. He had to leave Thailand, come back in Exempt, and start again... but only the one instance. Personally I won't risk it....As I used an agent, I was not asked to return after 3 months at Jomtien.

Edited November 14, 2022 by jacko45k

[hotandsticky]

5 minutes ago, jacko45k said:

I read one post here where someone had allowed his account to go low, during the term of his extension, and had been pulled up on it. He had to leave Thailand, come back in Exempt, and start again... but only the one instance. Personally I won't risk it....As I used an agent, I was not asked to return after 3 months at Jomtien.

 

I have heard of more than one case  -  at several offices. A payment of some sort often resolves the issue.

 

A few years ago a friend's wife was told that her Farang was too close to the 40k p.m. mark and that she should pay 2,000 Baht. Foolishly, she did. This was in the days of the embassy letter so the evidence was irrefutable.

[giddyup]

40 minutes ago, hotandsticky said:

No it doesn't.

 

It specifically asks for only 2 things...."COPY YOUR BANK BOOK AND COPY OF THE PASSPORT"......verbatim..

That is NOT what my letter asked for. It asked for copy of updated bankbook as well as front page and current extension page of passport. Doesn't matter, that's not what this post is about. You're derailing the subject.

Edited November 14, 2022 by giddyup