Thai retirement funds cannot be touched under any circumstances.

[Toby1947]

Why anyone would want to live here permanently is beyond me. Snowbird is the way to do it. And if they haven't got 800,000 baht to leave lying, can they really afford to be here 

[Korat Kiwi]

9 hours ago, G_Money said:

Don’t know your age or physical condition but I would think 5 years in a mine would be hard on the body despite watching Crocodile Dundee.  Most seem to be a hardy bunch.

 

Especially assuming you’re over 50 as you stated you had a previous retirement visa.

 

Was unaware that a kiwi could work in Oz but I suppose you’re part of the same empire.  

 

Forgive my ignorance on this matter.

Yes Kiwis can work in Oz without any visa requirements.  And it's reciprocal. 

 

Mine work can be tough, open pit mine not so much. A lot of the work is mechanical although I'd be looking at being a Cat 777 (Dump truck) driver. 

 

All good. 

[Vibora99]

I don't know why they make life so complicated. The agents charge 12,000 bahts (they deposit you in money) and give you the visa the next day (whether you have the 800,000 or not).

[KannikaP]

15 hours ago, JimTripper said:

Unless you forget to do it on the exact dates needed which seems like a chore each and every month.

There is no EXACT date, as long as it is in a different month than the previous transfer, although it looks better to Mr IO if it is roughly on the same day each month.

Is it really a chore to you to open the Wise App and in about 5 clicks the money is sent?

[JimTripper]

1 hour ago, Toby1947 said:

Why anyone would want to live here permanently is beyond me. Snowbird is the way to do it. And if they haven't got 800,000 baht to leave lying, can they really afford to be here 

Yes. If they don't have the 800k baht, it's cheaper to be here then many other countries.

 

Why can't you grasp this simple concept?

[JimTripper]

8 minutes ago, KannikaP said:

There is no EXACT date, as long as it is in a different month than the previous transfer, although it looks better to Mr IO if it is roughly on the same day each month.

Is it really a chore to you to open the Wise App and in about 5 clicks the money is sent?

I don't use a wise app and hope I never have to.

[Jimi007]

15 hours ago, lopburi3 said:

Actually the requirement is income of 65k per month and such a letter from your Consulate is the normal proof.  New alternative (as several of largest nations no longer issue letter) is proof of 65k per month transferred into a Thai bank account.

The income has to be from a pension. I do believe a Government pension. My income is mainly from my several rental properties. I have been doing retirement visas since 2006 and it was easy to do. Get a letter from my consulate. When the USA, Canada, UK and Australia said they don’t certify anything pretty much, Thailand said we are not going to allow you to use the affidavit from your Embassy/consulate any longer. Okay, I’m married to a Thai woman. We got married in the USA. They took our US marriage certificate without issue until last year the Phuket volunteers said something about it. But we were still approved but not this year. Now my Government needs to certify the marriage certificate! Well that is going to take a month or more, what now? My immigration officer said I have to clear the O marriage visa I have by re-entering the country. Fly to KL put a million Baht in your account and get the bank letter and balance in the morning then come in and apply for retirement two weeks before my 30 day stamp expires. The deposit method will not be allowed until next year and it has to be direct deposited monthly from a Government pension. I plan on doing all the paperwork for the marriage certificate to get certified by the US Department of State, I have my certified copy of my passport ID page now but that is not enough either now. After I get the certification from the US I need to have my wife send it to the Thai consulate in Los Angeles along with her and her parents Thai IDs and house books etc so that they will approve it and certify it. Then go to the local Amphur with the paperwork and register our US marriage with them. Once we get that done I can have my Social Security direct deposited into my Bangkok Bank account since they have a branch in New York that will handle that. I’m good at paperwork and do it all myself, including my wife’s US residency permits but the hoops Thai Immigration is currently using is a pain in my ass! 

[KannikaP]

12 hours ago, up2you2 said:

Seems like a lot of posters are going via the monthly transfer route.
On a cost effective basis vis a vis loss of interest (minimum on instant access savings account), at a guess I would say the lump sum method is cheaper.

How can it be cheaper if, on top of the 800/400k in the bank, you also need to transfer money to live from?

[KannikaP]

11 minutes ago, JimTripper said:

I don't use a wise app and hope I never have to.

Please tell us happy Wise users why ?

[KannikaP]

3 minutes ago, Jimi007 said:

The income has to be from a pension. I do believe a Government pension

From where did you get that incorrect information?

From my past experience transferring money from UK to Bkk Bank via Wise every month for several years, the Immigration have NEVER asked about the source of the funds.

[G_Money]

1 hour ago, Card said:

That's assuming you spend 65000 per month. I dont. If you spend  less than that then it will accumulate over time in your Thai account just the same.

You assumed correctly.  About 3x that amount easily.  Some months more.

 

No fan rooms, 60 baht cart meals, 7/11 beers, balloon chasing,  living in an isolated upcountry village for me.

Wouldn’t have moved here (9/3) if I couldn’t afford the same lifestyle as I did back in San Diego.

[Korat Kiwi]

17 minutes ago, KannikaP said:

There is no EXACT date, as long as it is in a different month than the previous transfer, although it looks better to Mr IO if it is roughly on the same day each month.

Is it really a chore to you to open the Wise App and in about 5 clicks the money is sent?

My partner/missus/GF. put me onto Wise (Formerly known as Transfer Wise) a few years ago. 

 

Talk about a leap forward in customer service. It's a real easy app to use and no crazy fees, unlike some other outfits (Western U for example). 

 

Some countries aren't yet on board and I believe Thailand is one of them. Which means no credit card facility available. Not sure if debit cards are. 

 

Once you have an account, you can open up foreign currency accounts with your wise account and convert/transfer funds to them. 

 

A debit card is provided and can be used in the contactless POS terminals. 

 

Wise is based in the UK. Magical system and quick transfers. 

 

 

[JimTripper]

8 minutes ago, KannikaP said:

Please tell us happy Wise users why ?

It does not matter why if you're happy. 😆

Edited February 16 by JimTripper

[KannikaP]

1 minute ago, JimTripper said:

It does not matter why if you're happy. 😆

Just interested in your reply saying that you will never use Wise.

[Korat Kiwi]

13 minutes ago, Jimi007 said:

The income has to be from a pension. I do believe a Government pension. My income is mainly from my several rental properties. I have been doing retirement visas since 2006 and it was easy to do. Get a letter from my consulate. When the USA, Canada, UK and Australia said they don’t certify anything pretty much, Thailand said we are not going to allow you to use the affidavit from your Embassy/consulate any longer. Okay, I’m married to a Thai woman. We got married in the USA. They took our US marriage certificate without issue until last year the Phuket volunteers said something about it. But we were still approved but not this year. Now my Government needs to certify the marriage certificate! Well that is going to take a month or more, what now? My immigration officer said I have to clear the O marriage visa I have by re-entering the country. Fly to KL put a million Baht in your account and get the bank letter and balance in the morning then come in and apply for retirement two weeks before my 30 day stamp expires. The deposit method will not be allowed until next year and it has to be direct deposited monthly from a Government pension. I plan on doing all the paperwork for the marriage certificate to get certified by the US Department of State, I have my certified copy of my passport ID page now but that is not enough either now. After I get the certification from the US I need to have my wife send it to the Thai consulate in Los Angeles along with her and her parents Thai IDs and house books etc so that they will approve it and certify it. Then go to the local Amphur with the paperwork and register our US marriage with them. Once we get that done I can have my Social Security direct deposited into my Bangkok Bank account since they have a branch in New York that will handle that. I’m good at paperwork and do it all myself, including my wife’s US residency permits but the hoops Thai Immigration is currently using is a pain in my ass! 

Geezus,  what a bloody nightmare. Maybe I'll stay single.... Less paperwork! 

[KannikaP]

4 minutes ago, Korat Kiwi said:

My partner/missus/GF. put me onto Wise (Formerly known as Transfer Wise) a few years ago. 

 

Talk about a leap forward in customer service. It's a real easy app to use and no crazy fees, unlike some other outfits (Western U for example). 

 

Some countries aren't yet on board and I believe Thailand is one of them. Which means no credit card facility available. Not sure if debit cards are. 

 

Once you have an account, you can open up foreign currency accounts with your wise account and convert/transfer funds to them. 

 

A debit card is provided and can be used in the contactless POS terminals. 

 

Wise is based in the UK. Magical system and quick transfers. 

 

 

Used it for years in UK, Europe and here. No problems ever.

[G_Money]

4 hours ago, ericthai said:

There are expats that own companies here and expats working for large multinational companies.  My first trip to Thailand was for work and then my company transferred me to Thailand full time. I work with multinational companies and most of the upper management if from abroad. There is allot more to Thailand than bars....

 

The scenario you describe is the exception rather than the rule IMO.

[JimTripper]

1 minute ago, KannikaP said:

Just interested in your reply saying that you will never use Wise.

You don't sound happy. 😆

[lopburi3]

5 minutes ago, Jimi007 said:

The income has to be from a pension. I do believe a Government pension. My income is mainly from my several rental properties. I have been doing retirement visas since 2006 and it was easy to do. Get a letter from my consulate. When the USA, Canada, UK and Australia said they don’t certify anything pretty much, Thailand said we are not going to allow you to use the affidavit from your Embassy/consulate any longer. Okay, I’m married to a Thai woman. We got married in the USA. They took our US marriage certificate without issue until last year the Phuket volunteers said something about it. But we were still approved but not this year. Now my Government needs to certify the marriage certificate! Well that is going to take a month or more, what now? My immigration officer said I have to clear the O marriage visa I have by re-entering the country. Fly to KL put a million Baht in your account and get the bank letter and balance in the morning then come in and apply for retirement two weeks before my 30 day stamp expires. The deposit method will not be allowed until next year and it has to be direct deposited monthly from a Government pension. I plan on doing all the paperwork for the marriage certificate to get certified by the US Department of State, I have my certified copy of my passport ID page now but that is not enough either now. After I get the certification from the US I need to have my wife send it to the Thai consulate in Los Angeles along with her and her parents Thai IDs and house books etc so that they will approve it and certify it. Then go to the local Amphur with the paperwork and register our US marriage with them. Once we get that done I can have my Social Security direct deposited into my Bangkok Bank account since they have a branch in New York that will handle that. I’m good at paperwork and do it all myself, including my wife’s US residency permits but the hoops Thai Immigration is currently using is a pain in my ass! 

Not sure of your issue as if using retirement you do not have to be married and the requirement has been proof of 65k per month income into a Thai bank account for US for several years now so would have expected you to be doing that.  There is no requirement for it to be a government pension or direct deposited (unless this is your IO).   Perhaps the amount of income required for retirement is the issue and you are planning to change to marriage extensions - thus the need to get marriage officially registered in Thailand.  As you say you are taking care of that and it will be a one time thing (although marriage extensions will require a bit more paperwork each year). 

[KannikaP]

6 minutes ago, Korat Kiwi said:

Which means no credit card facility available. Not sure if debit cards are. 

Wise is only a DEBIT card, no CREDIT facilities. It is only your own money which is available.

[KannikaP]

1 minute ago, JimTripper said:

You don't sound happy. 😆

Totally happy Jim. GBP is up, so just converted some into THB and stored in my Wise Account until the auto transfer on 1st of each month kicks in and I get my transfer, as a Foreign Transfer the next day. The conversion from GBP can also be automated to convert at a pre-determined exchange rate. Works perfectly , for me!

[JimTripper]

1 minute ago, KannikaP said:

Totally happy Jim. GBP is up, so just converted some into THB and stored in my Wise Account until the auto transfer on 1st of each month kicks in and I get my transfer, as a Foreign Transfer the next day. The conversion from GBP can also be automated to convert at a pre-determined exchange rate. Works perfectly , for me!

Are you happy? 😆

[KannikaP]

8 minutes ago, JimTripper said:

Are you happy? 😆

Yes, are you?

[up2you2]

28 minutes ago, KannikaP said:

How can it be cheaper if, on top of the 800/400k in the bank, you also need to transfer money to live from?

One transfer a year, which includes money to live on, as opposed to 12 transfers.

[jollyhangmon]

17 hours ago, up2you2 said:

To renew my retirement visa annually, the minimum amount that has to held in my account cannot fall below 400,000 Baht for seven months of the year, and not fall below 800,000 Baht for the remaining five months of the year.

Today I was told by a senior Thai Immigration Officer, that even if funds were required for a hospital expense, if my funds in my account fell below the above limits, then I would no longer be able to renew my Thai retirement visa automatically.

When this law and requirement was brought into force, I do remember hearing something about the fact that these funds were to be put aside in the event of health issues.
To pay hospitals bills, but seeming that is not the case, in fact from what I was lead to believe today, they simple cannot be touched if one wishes to renew their retirement visa.

In the event that what I have stated here is incorrect, can anyone point to an English translation of the Thai law, that states categorically that these funds can be used for hospital bills, without denying one's annual visa renewal?
 

 

... well, I'd say it depends on common sense in your 'office of choice' as well as if you're lucky enough to encounter someone with at least minimum brains ... happened to me after traffic accident, dipped into above mentioned funds for a bit better treatment and vehicle fixes than the responsible drivers insurance would have paid out ... indeed exactly what that money was always intended for.

 

Topped up to required amount after maybe 2 or 3 weeks below threshold and I only asked them one question when it got first mentioned at next extension time which was if they really wanted to start the whole the process all over from scratch, no problem for me of course I said, 5555 ... now, guess the outcome ...!

 

( => hint: still 'ere on the same extended visum ...)

 

[KannikaP]

2 minutes ago, up2you2 said:

One transfer a year, which includes money to live on, as opposed to 12 transfers.

True, but you still need that one transfer ON TOP of the 800/400, whereas if 65k per month, you can spend every last satang.

If the monthly transfer is coming from a regular source eg Pension or house rental, you will not be getting any interest on it in the home country as it is brought here, assuming that the pension is around the 65k mark.

[up2you2]

32 minutes ago, lopburi3 said:

Not sure of your issue as if using retirement you do not have to be married and the requirement has been proof of 65k per month income into a Thai bank account for US for several years now so would have expected you to be doing that.  There is no requirement for it to be a government pension or direct deposited (unless this is your IO).   Perhaps the amount of income required for retirement is the issue and you are planning to change to marriage extensions - thus the need to get marriage officially registered in Thailand.  As you say you are taking care of that and it will be a one time thing (although marriage extensions will require a bit more paperwork each year). 

An unreal story.
I was one of the first to be granted a retirement visa just after they had been introduced.
Right from the get go the immigration officers were suggesting I sould marry my partner, I didn't.

[sandyf]

17 hours ago, KannikaP said:

This is wrong as it says you must have INCOME of 65k, where really you must TRANSFER 65k monthly.

The basic requirement on income is as it says, proof of income is a separate issue, transfers are only required where there is no embassy letter available.

Proof of income will always be a bone of contention.

[john donson]

16 hours ago, Baht Simpson said:

That's what I'd be worried about. 🙂 

Better I stick it on fixed deposit where I can't get my sticky fingers on it. 

 

still don't get the fixed deposit... what bank? what account? I thought fixed is fixed and you cannot top it up, unless you enlighten me oh wise one ? 

[Baht Simpson]

1 hour ago, john donson said:

 

still don't get the fixed deposit... what bank? what account? I thought fixed is fixed and you cannot top it up, unless you enlighten me oh wise one ? 

800T on fixed deposit as proof of funds. Most banks will do it. No need to top up although you can consolidate the interest or move it to another account.

Edited February 16 by Baht Simpson