800K Method Changing Banks

[JWNZ]

For those of you who have transferred your 800K for retirement purposes from one bank to another, I have a couple of questions:

 

1) Is it better to change banks shortly after renewing your extension, or is there no difference? In other words, for the following renewal, would I require statements from both banks?
2) If changing from a passbook account to an E account (no passbook SCB EZ) after the required 12-month statement is generated from the bank, what would I show immigration as far as a current balance on the day of application, given there is no actual passbook to update and photocopy for them?
My Immigration office is Chang Mai.

Thanks.

[carlyai]

You still have to maintain B400000 in the bank while you change.

So I think you get your next extension, transfer B400000, then 3 months later transfer another B400000.

I gave up and just left the B800000 with the old bank and just opened new other accounts.

I'd check with the local Imm. 

Sorry not much help.

[AAArdvark]

Only safe plan is to talk to your local imm and that would be in the place you might be moving to, if applicable. 

[soi3eddie]

On 12/8/2023 at 2:23 AM, JWNZ said:

1) Is it better to change banks shortly after renewing your extension, or is there no difference? In other words, for the following renewal, would I require statements from both banks?

I changed bank accounts for the 800k a while back. Doesn't matter on timinig, however your statements MUST always show a total of 800k (there is a provision for reduction to 400k for 6/7 months in the middle but I always keep 800k). You will have to get two sets of statements/letters etc. only for the first extension after the bank move. The IO at CW Bangkok went through each of my statements, line by line, with a ruler checking the total balance.

 

[Phulublub]

On 12/8/2023 at 9:23 AM, JWNZ said:

For those of you who have transferred your 800K for retirement purposes from one bank to another, I have a couple of questions:

 

1) Is it better to change banks shortly after renewing your extension, or is there no difference? In other words, for the following renewal, would I require statements from both banks?
2) If changing from a passbook account to an E account (no passbook SCB EZ) after the required 12-month statement is generated from the bank, what would I show immigration as far as a current balance on the day of application, given there is no actual passbook to update and photocopy for them?
My Immigration office is Chang Mai.

Thanks.

 

Did this a couple of years ago...Jomtien....

 

Waited until middle of the year so balance required is 400K.  Opened new account, transferred 400K...thus both had minimum 400K for extension...following day transferred another 400K...so new account has required 800K.  At extension time, took photocopies of all entries in old account up to transfers, and new account from opening, front pages of both, and letter from new account for balance on day of application.... all good.

 

PH

[khunPer]

On 12/8/2023 at 3:23 AM, JWNZ said:

For those of you who have transferred your 800K for retirement purposes from one bank to another, I have a couple of questions:

 

1) Is it better to change banks shortly after renewing your extension, or is there no difference? In other words, for the following renewal, would I require statements from both banks?
2) If changing from a passbook account to an E account (no passbook SCB EZ) after the required 12-month statement is generated from the bank, what would I show immigration as far as a current balance on the day of application, given there is no actual passbook to update and photocopy for them?
My Immigration office is Chang Mai.

Thanks.

I've been changing bank a couple of times to obtain the best interest rate. I did it when the former agreed fixed term ended – to obtain my full interest from that – and moved the money during the same day to another bank, so the funds in theory has been in deposit every day.

 

My interest date is about a week after my extension of stay expiry date, so it's always done after renewal. I'm not sure if it's a good idea to do it during the two month maturing period before applying for extension of stay.

 

Most immigration offices – if not all – still wish, to my knowledge, a photocopy of an updated bank book, so you should preferably have a deposit account with a bank book. But ask your local immigration office in Chiang Mai – many of them have slight different rules – what they want, preferably get their printed list of documentation for extension of stay based on retirement with a bank deposit.

[bwanajohn]

I spoke with Chiang Mai immigration about changing from normal savings account to fixed deposit for better interest .

This would be at the same bank...

Immigration said no issue as long as it's all done on the same day ...so there is no days your money is not accounted for.

Bkk bank said no problem getting paperwork from old account as required.

 

[Henryford]

If i was doing it i would transfer 400k (from my original 800K) 3 months after my extension to a second bank. I would then build up the 400k in the second bank to 800k prior to 3 months before the next extension, and use that for the new extension. Then withdraw the 400k from the first bank.