The 800k Bank Balance

[ravip]

How is the bank balance evaluated for the retirement visa?

For example,  the total is 1,000,000 Baht.

Out of which foreign remittances are 800,000 Baht and the balance 200,000 local deposits.

Do they take it separately, or as a whole number?

What if the deposits were vice versa?

[DrJack54]

Assume that you are asking about money in bank 800k for either application for non O OR application for 12 months extension.

Non O requires 800k in bank on day of application.

For first extension the 800k (min) needs to have been in bank for 2 months.

For ongoing extensions require 2 months prior to application and 3 months after application and not below 400k in other months.

 

In the main immigration will accept your bank book.

Some offices want 12 month bank statement for 12 month extension.

Only the application for non O requires funds shown from abroad. 

For extensions that is not required 

[ravip]

Yes, I was asking about money in bank 800k for either application for non O OR application for 12 months extension.

 

@DrJack54 Thank you very much for your response.

 

[brianthainess]

1 hour ago, ravip said:

How is the bank balance evaluated for the retirement visa?

For example,  the total is 1,000,000 Baht.

Out of which foreign remittances are 800,000 Baht and the balance 200,000 local deposits.

Do they take it separately, or as a whole number?

What if the deposits were vice versa?

My IO Trat require a 3 month statement, they don't take anything separately they only care if you have a min of 800K. IME

[Confuscious]

1 hour ago, brianthainess said:

My IO Trat require a 3 month statement, they don't take anything separately they only care if you have a min of 800K. IME

I said the same thing about the months prior to the extension by another IO and my thread was closed because of this.
Better simply agree with the "beliefs" of AseanNow members.

[fceligoj]

For over 12 years, I had always elected to deposit, from foreign sources, 65K THB per month.  In the last quarter of 2023, I elected to build up my bank account to 800K THB so as not to have to worrry about continuing the 65K THB per month.  I completed this apporach in the first quarter of 2024.  So, after March, I left my BBL bank account stay at 800K+ a bit.  My retirement extension was due on the 12th of September.  So, near the end of the month of August, I proceeded to gather the required documents necessary to submit my application for the extension, including my letter from the bank and the 'required' 12-month statement.

 

The I/O took my package and inspected the bank statement.  She then began tearing away the months showing the monthly total (less than 800K) until she got to the month where the balance was about 800K.  The rest of the documents were periphery to that bank statement and she only cursory addressed the TM47 (of course she took my picture.)  Even though the rumor out there was that an old TM 7 may have no longer been acceptable, (I had prepared a new jst in case), she gave the old one a cursory review and said nothing.

 

Out and gone in less than 10 minutes.  This happened at the Khon Kaen Immigration office.

[PeachCH]

Especially in Pattaya, hundreds of retired falangs, don't have this problem, because they didn't put any money 💵 into their bank account.

It's only an observation 😊

[DrJack54]

Off topic post removed 

[jcmj]

I gave the Jomtien immigration the letter from the bank and a full year’s statement and they still wanted a copy of every page of the bank book for this past year. So don’t even bother with the year statement from the bank. Just a waste of paper. They also didn’t need my TM30 or my 90 day receipt. But at least they were quick. In and out in 10 minutes. 

[tandor]

59 minutes ago, PeachCH said:

Especially in Pattaya, hundreds of retired falangs, don't have this problem, because they didn't put any money 💵 into their bank account.

It's only an observation 😊

it really isnt fair is it?

[Thingamabob]

44 minutes ago, tandor said:

it really isnt fair is it?

No, it really isn't fair. It only works because Immigration offices allow it to. They could stop it tomorrow if they wished.

[khunPer]

6 hours ago, ravip said:

How is the bank balance evaluated for the retirement visa?

For example,  the total is 1,000,000 Baht.

Out of which foreign remittances are 800,000 Baht and the balance 200,000 local deposits.

Do they take it separately, or as a whole number?

What if the deposits were vice versa?

@DrJack54 gave you the right answer above. I wish to add that keeping the 800k baht in a separate account when applying for extension of stay makes it easier for both you and the immigration officer. If you can afford it, just deposit the funds in a 12-month fixed account for best interest, and withdraw the interest one a year, so the balance is clean 800k baht.

[itsari]

1 hour ago, PeachCH said:

Especially in Pattaya, hundreds of retired falangs, don't have this problem, because they didn't put any money 💵 into their bank account.

It's only an observation 😊

How do you observe other people's bank accounts?

Or are you purely working on rumour

[Mark Hopkins]

Can anyone please point me towards a good interest bearing deposit account please?

How many % is it possible to expect?

Cheers 

[Mark Hopkins]

On 8/18/2024 at 9:48 AM, atpeace said:

Mentioned in other threads I was installing solar this week and thought I would give an update. 

 

Little history first:) I Decided last Saturday to stop debating solar and just do it even though my options are a little limited here in the sticks.  I got in the car  and drove an hour to a small town/village about 20k outside Ubon that has a couple of solar shops that the locals use on their farms.  Both shops were semi-clueless in regards to larger residential setups.  Decided to go with a kid that had been doing farm setups for a couple years.  Bought 14x550 (7.7 kW )panels from him and scheduled an install the following Wednesday.

 

He showed up and put all the panels on the roof that is SW.  Not ideal but had to work with the roof I had.  I over paneled ( charger max 6.5 kW and panels 7.7 kW ).  The panels IMO were installed professionally and in the end produced BIG watts 🙂  At this point everything was progressing beautifully!  

 

Now on to doing what he wasn't experienced at.  Hooking up everything to the houses main panel and inverter (Anern 6.2 hybrid ).  Took them a day to do this and had them disconnect the water heaters from the inverter (too much draw).  Still have to confirms this was done correctly but he will fix it if not.  He so far has been extremely easy to work with and I speak little Thai but more than his English.  Solar is in the end is  mostly just numbers and numbers are for the most part universal 🙂

 

Total for For the panel install and all the wiring and misc electric parts came to 69,875 baht.   On top of that I purchased in Anern 6.2 inverter for 14,000.  I have a 13.4 kWh battery on the way I ordered on Shopee.  I know this could badly but I did a ton of research on the seller and I "think" it will be all good.  He is claims it is new CATL cells unlike 95% of his other build where he uses used cells ( he states used cells for most his builds).  His used cell build seem to be great also.  Funny, he literally doesn't  communicate with buyers which is bad but I knew that going into the transaction.  I sent a few messages and crickets -lol.  He won't even help if they need it need to be returned.  Big risk it would seem 🙂 Total price with shipping 44,600 baht (great price even if the cells are used IMO ).  I bet they will be able to produce 280 AH but if not oh well.

 

Cost Breakdown

Panels and complete solar install minus storage (including 14,000 B inverter) - 83,875

Storage (13.4 kWh)  - 44,600

 

Total -  128,475

Expect about 10K of misc thing I'll end up adding to the system so i guess roughly 140k baht all in.

 

 

Today at 8:30am (probably double the capacity at 1pm is sunny) had both ACs, 2 fridges, lots of electronics,  and 440w pond pump running. Solar was able to match the roughly 2.5 kW!  Yesterday no sun and it still managed to almost keep up with my needs.  Used only 1.5 kWh from the grid.

 

The ROI because of my meager electric needs of 300-450 units will be somewhere around 6 years if using my current needs.  There are other benefits though! I can drop my AC to 24c and precool my exercise room for basically free.  Run my pond pump all 6 hours a day instead of a couple.  If I did all the above pre solar I would have used ~700-800 units and my ROI would be 2-4 years.  Hard to put a value on the extra benefits of solar so I'll just go with a 6 years ROI 🙂

 

So far all good but still have to hookup storage this week.  Should end well 🙂

 

 

[Mark Hopkins]

Interesting post...cheers!

Interested to hear how your storage worked out?  Did you look at selling any excess back to grid?

Did the supplier give any warranty on the hardware?

I have a home in Mukdahan and looking at a similar install!

[ravip]

1 hour ago, khunPer said:

@DrJack54 gave you the right answer above. I wish to add that keeping the 800k baht in a separate account when applying for extension of stay makes it easier for both you and the immigration officer. If you can afford it, just deposit the funds in a 12-month fixed account for best interest, and withdraw the interest one a year, so the balance is clean 800k baht.

Yes. I intend to do just that.

A fixed deposit is ok for this purpose? I thought they insisted on a savings account?

[ravip]

11 minutes ago, Mark Hopkins said:

Interesting post...cheers!

Interested to hear how your storage worked out?  Did you look at selling any excess back to grid?

Did the supplier give any warranty on the hardware?

I have a home in Mukdahan and looking at a similar install!

I think you have posted on a wrong thread by mistake - this is The 800k Bank Balance thread.

[DrJack54]

15 minutes ago, ravip said:

Yes. I intend to do just that.

A fixed deposit is ok for this purpose? I thought they insisted on a savings account?

FD account is fine.

Seems that you may not have opened bank account at this stage? 

Suggest BBL or Kasikorn good options if you do transfers with wise.

Also note that if you plan to use CW immigration that SCB does not have a branch there.

[UWEB]

37 minutes ago, Mark Hopkins said:

Can anyone please point me towards a good interest bearing deposit account please?

How many % is it possible to expect?

Cheers 

max 2%

[ravip]

52 minutes ago, DrJack54 said:

FD account is fine.

Seems that you may not have opened bank account at this stage? 

Suggest BBL or Kasikorn good options if you do transfers with wise.

Also note that if you plan to use CW immigration that SCB does not have a branch there.

I have a savings a/c at Bangkok Bank which I opened around 2016.

Yes recently a friend of mine did a couple of transfers via Wise, and I think he used the option 'personal expenses'. I hope that wont be an issue for the Immigration. 

Most probably I will use the Phetchaburi Immigration Office.

Thank you once again for your helpful info.

[DrJack54]

Post re agents off topic removed 

[chipperPDU]

5 hours ago, Mark Hopkins said:

Can anyone please point me towards a good interest bearing deposit account please?

How many % is it possible to expect?

Cheers 

I have just put some money in a fixed account at kasikorn at 2.2%

[couchpotato]

9 minutes ago, chipperPDU said:

I have just put some money in a fixed account at kasikorn at 2.2%

Thats for 24 mths, not 12 mths..correct.

[DrJack54]

11 minutes ago, chipperPDU said:

I have just put some money in a fixed account at kasikorn at 2.2%

Surprising. 

Currently Kasikorn showing ...

"12 mths Fixed 1.60%-1.70%* 1.15"

I have Kasikorn bank account with fixed account also savings account.

Nothing remotely near 2.2% FD.

Will visit my bank and report your magnificent rate. 

 

[couchpotato]

6 minutes ago, DrJack54 said:

Surprising. 

Currently Kasikorn showing ...

"12 mths Fixed 1.60%-1.70%* 1.15"

I have Kasikorn bank account with fixed account also savings account.

Nothing remotely near 2.2% FD.

Will visit my bank and report your magnificent rate. 

 

Read my post above.

[DrJack54]

5 minutes ago, couchpotato said:

Read my post above.

Still better post 2 year rate for FD account for Kasikorn. 

[chipperPDU]

9 hours ago, couchpotato said:

Thats for 24 mths, not 12 mths..correct.

36 months

[chipperPDU]

9 hours ago, DrJack54 said:

Surprising. 

Currently Kasikorn showing ...

"12 mths Fixed 1.60%-1.70%* 1.15"

I have Kasikorn bank account with fixed account also savings account.

Nothing remotely near 2.2% FD.

Will visit my bank and report your magnificent rate. 

 

You want a picture of my passbook?

[ronnie50]

22 hours ago, DrJack54 said:

Assume that you are asking about money in bank 800k for either application for non O OR application for 12 months extension.

Non O requires 800k in bank on day of application.

For first extension the 800k (min) needs to have been in bank for 2 months.

For ongoing extensions require 2 months prior to application and 3 months after application and not below 400k in other months.

 

In the main immigration will accept your bank book.

Some offices want 12 month bank statement for 12 month extension.

Only the application for non O requires funds shown from abroad. 

For extensions that is not required 

 

So if you have 2-3 million THB in your account already, that doesn't count towards your first application for Non O retirement visa is that right? When making first application within Thailand, the IO will be looking for a recent 800K THB transfer in from abroad, is that what you mean?

 

Sorry if this is obvious, but it's not to me. First time doing this.

Thanks

R.