Non 0 retirement renewal 65k method

[DickThrust]

Hi, I am contemplating moving from 800k method to 65k monthly income. My UK teacher's pension and UK state pension are paid into my Bangkok bank account monthly under the heading "bahtnet". Will this be acceptable and what documentation is required regarding these payments?

Many thanks

[EVENKEEL]

I just did my extension using monthly. You'll need the statements from Bangkok Bank showing 12 months of international deposits. Takes about 4 days to get the papers.

[DickThrust]

thanks Evenkeel. Did your payments show as "bahtnet"?

[EVENKEEL]

5 minutes ago, DickThrust said:

thanks Evenkeel. Did your payments show as "bahtnet"?

Mine says International Transfer at my online account. Just looked at the papers the bank gave me showing monthly deposits and the description is Foreign T/T. I made copies of bank papers which is unnecessary. 

[DickThrust]

Thanks again

[brianburi]

32 minutes ago, EVENKEEL said:

Mine says International Transfer at my online account. Just looked at the papers the bank gave me showing monthly deposits and the description is Foreign T/T. I made copies of bank papers which is unnecessary. 

Is that on the statement from main branch Bangkok Bank in Silom?

My statement from the online banking app says 'Bahtnet' for both my UK pensions being paid in.

For the OP, I would confirm with your Immigration Office that they allow you to do the monthly income method. Not all do, its 800K in a Thai bank account only with my provincial one.

I clear way more than the 65K every month and its a big fat zilch for me....

 

[Mike Teavee]

1 hour ago, DickThrust said:

Bangkok bank account monthly under the heading "bahtnet"

BahtNet is an internal (Thai Bank - Thai Bank) Transfer coding so I wouldn't have thought it would be acceptable to Immigration as they want to see the money coming in from Overseas (for Bangkok Bank these would be shown as "FTT").

 

You might be able to overcome this by showing 12 month statements of your pensions being paid from the UK to Bangkok Bank but I'd recommend having your pensions paid into a UK Bank account then use Wise & the "Reason" for Transfer "Funds for Long Term Living in Thailand" to ensure it shows up as an International Transfer. 

 

 

One other thing to note is that if you're bringing your pension into Thailand in the same calendar year it was earned then (technically) you are liable for Tax on it here (Double Taxation Agreements may mean you don't need to pay any but why take the risk).

 

 

[DickThrust]

Very useful information guys. Thanks.

[Mywayboy]

I always use Thai Visa great service never any problems. 

[wwest5829]

7 hours ago, Mike Teavee said:

BahtNet is an internal (Thai Bank - Thai Bank) Transfer coding so I wouldn't have thought it would be acceptable to Immigration as they want to see the money coming in from Overseas (for Bangkok Bank these would be shown as "FTT").

 

You might be able to overcome this by showing 12 month statements of your pensions being paid from the UK to Bangkok Bank but I'd recommend having your pensions paid into a UK Bank account then use Wise & the "Reason" for Transfer "Funds for Long Term Living in Thailand" to ensure it shows up as an International Transfer. 

 

 

One other thing to note is that if you're bringing your pension into Thailand in the same calendar year it was earned then (technically) you are liable for Tax on it here (Double Taxation Agreements may mean you don't need to pay any but why take the risk).

 

 

I have used the 65,000 baht brought in monthly ever since retiring here in 2011. No issue as long as stated above it is noted as FTT by Bangkok Bank. Rather than having my SS + direct deposited in Bangkok Bank, my SS goes into my U.S. bank. Monthly I daw $2400 USD through Wise into my Bangkok Bank Acct. I have never had an issue following what is stated above. By the funds first going into my U.S. bank acct. I can demonstrate they are not “current funds” coming to Thailand. C. Mai.

Edited May 3, 2023 by wwest5829

[flexomike]

26 minutes ago, wwest5829 said:

I have used the 65,000 baht brought in monthly ever since retiring here in 2011. No issue as long as stated above it is noted as FTT by Bangkok Bank. Rather than having my SS + direct deposited in Bangkok Bank, my SS goes into my U.S. bank. Monthly I daw $2400 USD through Wise into my Bangkok Bank Acct. I have never had an issue following what is stated above. By the funds first going into my U.S. bank acct. I can demonstrate they are not “current funds” coming to Thailand. C. Mai.

SS is not considered as current money

[norbra]

Bangkok bank being a member of BoT bahtnet network can provide you with credit advice receipt for your FX transactions. Immigration accept these for extension purposes.

Suggest you request these documents from the bank.

Bahtnet also have a call centre for further inquiries,a contact I do not have

Edited May 3, 2023 by norbra

[KHUNSURIN]

Has anyone ever used Western Union direct to Bangkok Bank from U.S bank account? I'm wondering if it shows up as FTT the same as it does as Wise transfer.

[OJAS]

On 5/3/2023 at 8:34 AM, Mike Teavee said:

One other thing to note is that if you're bringing your pension into Thailand in the same calendar year it was earned then (technically) you are liable for Tax on it here (Double Taxation Agreements may mean you don't need to pay any but why take the risk).

His teacher's pension is covered by the UK/Thailand Double Taxation Agreement. That leaves the State Pension which isn't - but, if the Thai Revenue Dept were seriously to think that taxation of our perpetually frozen State Pension payments would make a significant contribution towards easing Thailand's national debt, they really are living in cloud cuckoo land, I think!

 

Edited May 4, 2023 by OJAS

[DickThrust]

That's great advice norbra, thanks.

[brianthainess]

On 5/3/2023 at 7:10 AM, EVENKEEL said:

I just did my extension using monthly. You'll need the statements from Bangkok Bank showing 12 months of international deposits. Takes about 4 days to get the papers.

Not much good if your Immigration office want 'same day' of application. Change banks if this is your case. Yellow bank 20min

[KannikaP]

On 5/3/2023 at 8:16 AM, brianburi said:

Not all do, its 800K in a Thai bank account only with my provincial one.

Ask about the Combination Method. ie Monthly International Transfers of say Bht 50k per month = Bht 600k, plus Bht 200k i the bank totals 800k. My IO in P'lok allows this for me, infact he has OKed 40k per month = 480k plus 320k in the bank. Suits me fine.

If you change from 800k in the bank to monthly method, would you need to keep the money in the bank while you 'build up ' 12 months of FTT transfers?

[KannikaP]

2 minutes ago, brianthainess said:

Not much good if your Immigration office want 'same day' of application. Change banks if this is your case. Yellow bank 20min

The statements do not hve to be 'on the day', and can be a week previous. The letter and copy of bank book showing ownership and current balance in the account need to be same day.

[brianthainess]

20 minutes ago, KannikaP said:

The statements do not hve to be 'on the day', and can be a week previous. The letter and copy of bank book showing ownership and current balance in the account need to be same day.

Only saying bcoz some IO want Everything same day like Trat

[Chaspul]

The only time money must be shown from overseas is when applying for " O" visa. 

I fell foul when changing from OA as BKB cannot show back 12 years where I transfer 800,000 for OA. Having the 8000,00 in Fixed account not showing from overseas. does not cover the requirement.

7 thousand in brown envelope sorted it,

I have my pensions paid into HSBC UK and transfer to BKB London who ship to BKB Hua Hin.

This used to show as FTT but now shows as Transfer.

Recently did my marriage extension and only have to show transfer into Thai bank of at least 40,000 monthly.

1. Applied for 12-month statement one week before.

2. Asked Bank for letter itemizing monthly transfers, letter dated for application date. Bank manager ask head office, but no reply so she did it anyway. copy of bank book on date of application, first page and last entry,

3. Initially for information only, I Downloaded PDF files from HSBC for 12 months showing transfer to BKB London. had to copy again at Imm for attachment to second pile of paper. 24 more signatures.

4, Took copy of memo dated December 2018 issued when Embassies refused income letter. Copy In Thai and English as ammunition which state that money have to be paid into Thai bank account, no mention of foreign transfer, Did not have to use this. I have tried to attach to this mail but will find pinned on this site.

Note: According to immigration head office all papers must be single sided. Chop down another tree.

 

Chas

1706381069_ImmigrationMemoForIncomeProof.pdf 452721024_ImmigrationMemoForIncomeProof(ENG).pdf

[hotandsticky]

2 hours ago, KannikaP said:

Ask about the Combination Method. ie Monthly International Transfers of say Bht 50k per month = Bht 600k, plus Bht 200k i the bank totals 800k. My IO in P'lok allows this for me, infact he has OKed 40k per month = 480k plus 320k in the bank. Suits me fine.

If you change from 800k in the bank to monthly method, would you need to keep the money in the bank while you 'build up ' 12 months of FTT transfers?

 

Yes.

 

I was advised that I must evidence compliance with the last extension approval (i.e. 800k/400k) AND show 12 x 65k Baht coming in.

 

That is what I will be doing in 2 weeks time when I apply based on the switch from money in the bank to monthly income.

[KannikaP]

1 hour ago, hotandsticky said:

 

Yes.

 

I was advised that I must evidence compliance with the last extension approval (i.e. 800k/400k) AND show 12 x 65k Baht coming in.

 

That is what I will be doing in 2 weeks time when I apply based on the switch from money in the bank to monthly income.

At least you can spend all the 65k every month once it has shown as an FTT. More than you can with the 800/400.

[hotandsticky]

1 hour ago, KannikaP said:

At least you can spend all the 65k every month once it has shown as an FTT. More than you can with the 800/400.

 

 

???? That was my plan - I probably spend 80k every month anyway.

 

I can also release the 400k that has been locked up for 9 months.

[KannikaP]

2 minutes ago, hotandsticky said:

 

 

???? That was my plan - I probably spend 80k every month anyway.

 

I can also release the 400k that has been locked up for 9 months.

7 months.

[hotandsticky]

10 minutes ago, KannikaP said:

7 months.

 

I thought it was 9 months.   800k for 3 months (in theory) after approval then 9 months to the upcoming extension of 400k. (actually 8 months because I will apply 30 days beforehand).

[KannikaP]

1 hour ago, hotandsticky said:

 

I thought it was 9 months.   800k for 3 months (in theory) after approval then 9 months to the upcoming extension of 400k. (actually 8 months because I will apply 30 days beforehand).

No, you've been a member on here for over 10 years, so how do you not know that it is 800k two months before and then 3 months after. Then it can go down to 400k. 12-5 = 7

[hotandsticky]

2 hours ago, KannikaP said:

No, you've been a member on here for over 10 years, so how do you not know that it is 800k two months before and then 3 months after. Then it can go down to 400k. 12-5 = 7

16 years actually.

 

But I haven't always used money in the bank and Jomtien is different to Buriram.

 

The 400k that I will release is dead  for 12 months ...it just needs topping up to 800k and that 400k is dead for 5 months.

 

In many ways I would prefer to revert to having a multiple entry Non-Imm 'O' visa......that suited me very well.

[JTXR]

On 5/3/2023 at 7:20 AM, DickThrust said:

thanks Evenkeel. Did your payments show as "bahtnet"?

I had this "bahtnet" problem at one point using the 65K/month method, when the transfer was effected as Thai baht.   Your transfer needs to show up in your bank book as an "international transfer" or "international transaction", which in my case I found I needed to ensure by insisting to my bank that the transfer be done in the original foreign currency (dollars, pounds, whatever).

[foreverlomsak]

23 hours ago, Chaspul said:

copy of bank book on date of application, first page and last entry,

Lucky you, in Phetchabun I have to copy every page of the bank book, tried one year (2020 I think) to give only pages with current year (incidentally went back to 2018) not good enough had to be all pages of the book, meant submitting copies back to 2014 when the book started.

Same with passport need copies of all pages, other offices need only face page and extension stamp.