Using 2 Bank Accounts For Retirement Visa?

[HugoFastor]

I’m considering taking a portion of the 800K Baht I already have on deposit with the bank for my visa extension and then putting that money into a separate bank account at the same bank.
 

The purpose for this would be to lock up a portion of the money in a separate account with the bank as a guarantee in order to qualify to get a credit card issued from the bank.
 

So for example, if I had two bank accounts going forward from the same bank, one with 750K Baht and the other one with 50K Baht, would Immigration accept submitting two different bank books, but from the same bank and with a combined balance of 800K Baht in order to meet the financial requirements for extending the annual visa on the basis of retirement?

 

I assume the bank would also be able to give me one letter for Immigration purposes that shows the combined 800K balance of the two accounts?

[roobaa01]

Gday

 

I did so in the for my extension of stay. I presented a fixed deposit and savings acc passbook. Pattaya immigration accepted.

 

Wbr

Roobaa01

[ubonjoe]

Immigration will accept two updated bank books and will want a letter from the bank for each account.

Some banks will deduct the amount for the credit card guarantee from the amount shown on the letter from the bank that could be a big problem. 

[yeahbutif]

Slightly different note.  But today I went to bank to get letter for immigration I said need book update.. they did all this but the letter said todays date but when they done book update it was a week old   . I said if have to be same date surely... He said it was okay I said don't want Hassel at immigration... So he said you have to take some money out to update book to day.. thought he would have said / new that for immigration..so I said take some money out and redue it all .. would the immigration have excepted the letter to the day but bankbook a week old.?

[DrJack54]

44 minutes ago, HugoFastor said:

I’m considering taking a portion of the 800K Baht I already have on deposit with the bank for my visa extension and then putting that money into a separate bank account at the same bank.
 

The purpose for this would be to lock up a portion of the money in a separate account with the bank as a guarantee in order to qualify to get a credit card issued from the bank

Don't really follow the logic.

For such a small amount (50k) 

Thinking best to have the 800/400k in a dedicated account for immigration purposes and open another account with a credit card with whatever funds you want to place in the account.

 

Having stated that, I use to accounts for immigration 600k in a FD account and approx 400k in a savings account. 

Touch neither and use another account for day to day banking. 

Sort of slightly regret that. 

[DrJack54]

10 minutes ago, yeahbutif said:

would the immigration have excepted the letter to the day but bankbook a week old.?

Which immigration office? 

Some want to see activity on the day of applying for extension by way of small deposit/withdrawal.

 

For an update an actual deposit would give the days date you make the deposit 

 

[HugoFastor]

Assuming the bank would be willing to provide a letter for immigration purposes showing both of the 2 account balances, the trickier thing might be trying to update the passbook balance for the account which has the frozen funds that are being locked up for the credit card since that account won’t have any deposit or withdrawal activity on it. 

 

[DrJack54]

6 minutes ago, HugoFastor said:

Assuming the bank would be willing to provide a letter for immigration purposes showing both of the 2 account balances, the trickier thing might be trying to update the passbook balance for the account which has the frozen funds that are being locked up for the credit card since that account won’t have any deposit or withdrawal activity on it. 

 

As mention earlier , I use two accounts same bank. FD and savings 

I deposit 1000b into FD and 100b into savings on day of attending immigration. 

The bank provides bank letter (one) listing both accounts and balances.

Charge 100baht. 

 

[HugoFastor]

2 minutes ago, DrJack54 said:

As mention earlier , I use two accounts same bank. FD and savings 

I deposit 1000b into FD and 100b into savings on day of attending immigration. 

The bank provides bank letter (one) listing both accounts and balances.

Charge 100baht. 

 

Thank you. Understood. That’s good information. But there are also two other possible Immigration issues with the type of locked bank account used for a bank credit card guarantee.
 

First is if the bank would be willing to include the balance of this type of account within the bank account balance letter for Immigration. The second question is if a small deposit can be made into this type of an account on the date of the visa renewal each year so that you can get the passbook updated to show to Immigration. 

[Robin]

Strange quirk of Thai BAnking is that passbook update will only show if there has been a change to the account.  Tus for Immigration, you need to take out/put in 100B on the day and then get book update  Only logical in Thailand ,but TIT, you can't fight it.  Immigration know this very well, and sometimes will accept a recent update with the Bank Letter.  I managed this year by pointing out to I/O that if there had been any change to my account it would have shown on the update that morning.  Very rare to get such an understanding I/O

[KannikaP]

53 minutes ago, DrJack54 said:

Some want to see activity on the day of applying for extension by way of small deposit/withdrawal.

Simply do an online transfer of Bht 50 to the Mrs account, or to another of your own, and off to the Bank for your update.

That's if they do not have an ATM machine at the bank!

[DrJack54]

18 minutes ago, KannikaP said:

Simply do an online transfer of Bht 50 to the Mrs account, or to another of your own, and off to the Bank for your update.

That's if they do not have an ATM machine at the bank!

Never understand why folk use the bank update in wall.

You have to obtain bank letter.

So unless the banks are long way from your immigration office then why not walk into the bank... request the letter along with giving them 100b for letter and 100b deposit into the account.

 

Obviously that's very easy at CW with most banks onsite.

Maybe not so simple in the boonies. 

 

 

[DrJack54]

52 minutes ago, HugoFastor said:

But there are also two other possible Immigration issues with the type of locked bank account used for a bank credit card guarantee.

I was under the impression that you cannot have a credit card linked to the account used for immigration money in bank method.

Someone will post with personal experience.

 

Regardless as usual different immigration offices have their particular interpretations. 

[Jingthing]

I would not try two accounts  if one is used as a credit card security.

 

That is asking for trouble.

 

Otherwise multiple accounts are generally allowed but its more complicated for the officer.

 

I have always made a withdrawal on the day I get the letter. That is standard. You can also do a deposit.

[KannikaP]

40 minutes ago, DrJack54 said:

Never understand why folk use the bank update in wall.

You have to obtain bank letter.

So unless the banks are long way from your immigration office then why not walk into the bank... request the letter along with giving them 100b for letter and 100b deposit into the account.

 

Obviously that's very easy at CW with most banks onsite.

Maybe not so simple in the boonies. 

 

 

I do a bank book update every month to show that my foreign transfer from Wise actually IS a foreign transfer. Sadly the IOs want full 12 months of statements AND copies of the book when renewing the Extension by that means.

I personally do a Combination of Bht 40k per month plus Bht 400k/200k in the bank. It is accepted here 'in the boonies' of Phitsanulok.

[NoDisplayName]

2 hours ago, yeahbutif said:

Slightly different note.  But today I went to bank to get letter for immigration I said need book update.. they did all this but the letter said todays date but when they done book update it was a week old   . I said if have to be same date surely... He said it was okay I said don't want Hassel at immigration... So he said you have to take some money out to update book to day.. thought he would have said / new that for immigration..so I said take some money out and redue it all .. would the immigration have excepted the letter to the day but bankbook a week old.?

That depends on the bank.

 

Bangkok Bank can do a passbook update, either inside with the clerk or using the automatic machine outside, without any activity.  No small deposit or withdrawal required, both savings and fixed accounts.

[skatewash]

17 hours ago, Robin said:

Strange quirk of Thai BAnking is that passbook update will only show if there has been a change to the account.  Tus for Immigration, you need to take out/put in 100B on the day and then get book update  Only logical in Thailand ,but TIT, you can't fight it.  Immigration know this very well, and sometimes will accept a recent update with the Bank Letter.  I managed this year by pointing out to I/O that if there had been any change to my account it would have shown on the update that morning.  Very rare to get such an understanding I/O

Bank tellers at Bangkok Bank can force a balance forward transaction to be printed in your passbook without requiring a change.

[Xonax]

17 hours ago, DrJack54 said:

I was under the impression that you cannot have a credit card linked to the account used for immigration money in bank method.

Someone will post with personal experience.

 

Regardless as usual different immigration offices have their particular interpretations. 

I agree. Theoretically the credit card could be maxed out!

[Thailand J]

I keep it simple.

FD account for immigration >800k. No small deposit/withdrawal  is required to update the balance . This is with Bangkok Bank.

Another for credit card guarantee. Remember: If the credit card is active the available balance is the account balance minus the security guarantee. If the balance is 70K and the credit card guarantee is 50K then the available balance is only 20k for the immigration purposes.

[SunsetT]

19 hours ago, Robin said:

Strange quirk of Thai BAnking is that passbook update will only show if there has been a change to the account.  Tus for Immigration, you need to take out/put in 100B on the day and then get book update  Only logical in Thailand ,but TIT, you can't fight it.  Immigration know this very well, and sometimes will accept a recent update with the Bank Letter.  I managed this year by pointing out to I/O that if there had been any change to my account it would have shown on the update that morning.  Very rare to get such an understanding I/O

I actually understand the Thai logic in this. You can only get a year's bank statement up to the previous day to renewal, so in theory you could withdraw money from an ATM taking you below 800k on the morning of renewal without immigration knowing. By insisting on seeing a bank book transaction on the account the same day they know for sure that there is 800k in the bank at the time of extension renewal. Mind you an ATM withdrawal can still be made after the bank book update without it showing in the bank book. So OK, you are right it is illogical...555. Also after extension renewal you can go and withdraw as much as you like but in both instances you would not be able to renew the following year.

[sometimewoodworker]

22 hours ago, DrJack54 said:

I was under the impression that you cannot have a credit card linked to the account used for immigration money in bank method.

Someone will post with personal experience.

The requirement for immigration is that the amount in the bank account can be accessed immediately, so a fixed term account will work as you can withdraw all the money just losing interest.

 

A locked account used to secure a credit account will not be acceptable because you cannot withdraw the principal

[NoDisplayName]

On 12/7/2022 at 4:33 PM, NoDisplayName said:

That depends on the bank.

 

Bangkok Bank can do a passbook update, either inside with the clerk or using the automatic machine outside, without any activity.  No small deposit or withdrawal required, both savings and fixed accounts.

OOPS!........I was mistaken.

 

Took all my passbooks to the bank today to update at the machines outside.

Savings accounts showed only actual transactions and dates.

Fixed account did a forced balance forward with today's date.

 

Apologies for any confusion.

[HugoFastor]

On 12/9/2022 at 5:02 PM, NoDisplayName said:

OOPS!........I was mistaken.

 

Took all my passbooks to the bank today to update at the machines outside.

Savings accounts showed only actual transactions and dates.

Fixed account did a forced balance forward with today's date.

 

Apologies for any confusion.

Savings accounts will not print a BF entry when there are transactions to update. If no new transactions then it will print just a BF. Try inserting your passbook a second time after it updates your recent transactions and then you will get a BF entry. Or if you insert it at time when there are no transactions to update you should also also get an updated BF printed entry. 

[sidleonard]

To ubonjoe & Dr. Jack54

 

Many thanks for your assistance as we prepare for our move to Thailand. Please share a bit more of your knowledge regarding the following pertaining to my yearly visa extension applications.

 

• Regarding personal bank account requirement: Will there by a concern about where the funds come from? 1.) Can I transfer the required ฿400K from our joint savings account at Bangkok Bank, or must I make the transfer (we use WISE) from our joint account at Bank of America? 2.) Do I need to make both a deposit and withdrawal from my personal account to show activity on the day of my application, or just one of the two transactions? 3.) Lastly, do I need to have the ฿400K in my account 3 months before applying for my first visa extension, or will 2 months suffice even for my first visa extension?

   

• Do we need to get documentation of our 30 year marriage (Kor Ror 22 certifying our marriage in the U.S. is on file at the district office) from the district office each year as a visa extension requirement?

Again, thanks for all. 

 

[skatewash]

1) Bangkok Bank is fine, there is no requirement that the money originate outside of Thailand for a marriage extension.

2) One or the other is sufficient.
3) Two months is the requirement.  (You may wish to indicate which immigration office you will be using as there may be some that mistakenly believe it's three months.)
4) Yes, documentation from the amphoe is a requirement each year for a marriage extension.

[Henryford]

Are you down to your last 50k? Couldn't you have 800k in one bank and 50k (blocked) in another?

[DrJack54]

@sidleonard pm sent. 

[IvorBiggun2]

Some years back I had my monies in 2 separate accounts in the same bank. On reporting to immigration for my extension the officer asked me why 2 accounts. After explaining why he stood up and slammed the bank books on the table and accused my wife of messing him around and just walked out. The officer on the next desk came over, picked up the books, and proceeded to to issue my extension no problem.

[Liquorice]

On 12/7/2022 at 2:01 PM, yeahbutif said:

Slightly different note.  But today I went to bank to get letter for immigration I said need book update.. they did all this but the letter said todays date but when they done book update it was a week old 

Bangkok bank can update your passbook to the day without a deposit or withdrawal.
Other banks appear to differ as you experienced.

[DrJack54]

14 minutes ago, IvorBiggun2 said:

After explaining why he stood up and slammed the bank books on the table and accused my wife of messing him around and just walked out

I guess it's also about how the bank accounts are used.

 

In my case with an FD account 600k + and a dedicated savings account (only used for immigration) with balance always 200k + it's a very easy process for the io.

 

If however totals for each account has to be cross checked and perhaps allowing the total funds to reduce to 400k etc its bit of a pain.