Dipped below 800k for money in bank method

[Scouse123]

1 minute ago, KannikaP said:

Ah, it is us Pensioners/Retirees who get an extra 190k allowance.

 

Yes, if 65 or over or disabled and under 65.

[flexomike]

4 hours ago, Scouse123 said:

 

As DrJack24 says, they lock it for three months after granting your extension, it is ridiculous really when they are saying they believe 800K is what somebody needs to look after themselves for a year.

 

Then, they are blocking the full 800K for three months, and 400K permanently, as they say it mustn't dip below that at any time.

 

Not same with a DTV visa, weird?... Yes, it is.

 

Also, under the 65k a month method, that equates to 780K a year, with your single man's allowance under the new taxation system at 60K plus 150K, for a single man. You can claim 25K for health insurance.

 

The rest being 545K, subject to differing levels of taxation.

 

 

 

 

You can only claim health insurance if it is a Thai policy. Only assessable income is subject to taxation 

[KannikaP]

1 minute ago, Scouse123 said:

 

Yes, if 65 or over or disabled and under 65.

Isn't it silly that one can get a Retirement extension at 55, yet no tax allowance until 65. Ah well, T I T.

[Dirk Z]

CW can be very fussy. I used Citibank, taken over by UOB. Plenty balance all the time, but since there were two accounts and they were not prepared just to follow the balance in the monthly statements it was rejected. Thankfully I had a plan B, another account with another bank. I went back to UOB to have them state that both accounts belonged to me and were continuous, but I can't tell the result at CW, because they went with my plan B. Took me two days.

[Scouse123]

5 minutes ago, flexomike said:

You can only claim health insurance if it is a Thai policy. Only assessable income is subject to taxation 

 

I agree,

 

But I think it includes companies registered in Thailand and Pacific Cross is.

 

Assessable income, well we are back on with the ongoing debate of is it or isn't it.

 

I transer savings and some rents I get, but how do I prove savings and the UK government make agents deduct tax on rental income for HMRC when it comes in to them.

 

 

 

[DrJack54]

6 minutes ago, flexomike said:

Why don't you just make her own account and then this would not have happened 

We all have our own way of running household expenses.

She has her own accounts.

I transfer (every month) 120k using WISE to MY Kasikorn account. 

She then straight away transfers that money into her account.

All irrelevant. 

A small error was made

[Rob Browder]

22 hours ago, DrJack54 said:

My guess is :

Come next November I will obtain bank letter for each bank account and make small deposit into each account. 

Will provide 12 month bank statement for the 800k account and photocopies of the account that is covering the two day shortfall.

Turns out the sleeper account has 8k balance and the dip was 1600b

I would get a bank-stamped monthly-statement for the 8K account covering the time period in question.  That erases all doubt that the total-balance of both accounts, combined, ever dropped below 800K.

[DrJack54]

21 minutes ago, Rob Browder said:

I would get a bank-stamped monthly-statement for the 8K account covering the time period in question

Actually decided that will obtain 12 month bank statements for both accounts.

Bank charges 200b each.

Plus "Bank letter" 100b each.

Will obtain those day prior to my next extension 

 

[mancub]

Similar minor error happened recently to a friend in Ubon...resulted in immigration officer " helping" for bt 10000 !

In Burirram, however, another friend said they were more understanding  and overlooked the same issue. 

Good luck.

 

[pub2022]

20 hours ago, DrJack54 said:

Very good advice. 

I intend to apply for extension early in 45 day CW window next year and if knocked back will either use agent or visit Saigon for a non O retirement eVisa. 

 

Sorry if it has already been asked, how does it work about getting a NON O retirement eVisa in Saigon?

How long do you have to stay there waiting for the EVisa?

Thanks

[DrJack54]

7 minutes ago, pub2022 said:

 

Sorry if it has already been asked, how does it work about getting a NON O retirement eVisa in Saigon?

How long do you have to stay there waiting for the EVisa?

Thanks

It's eVisa now.

Personally haven't read any reports of time for processing.

I was talking about this prior to realizing that I have a second bank account so seems no need to start over.

If I had I would have flown one way to Saigon and applied straight away.

Hopefully it would be processed in approx 4-5 days. 

[Lacessit]

9 hours ago, DrJack54 said:

That would not work. 

After using an agent to obtain a 12 month extension to go back to doing it yourself with correct financials you would need to start over.

New non O 

I used an agent in CM for about 4 years. Charged me 7000 baht to hold my hand at Immigration.

 

I realized I was doing all the grunt work in assembling the paper forms. I then did it myself in the ensuing years there and in Chiang Rai. No new non-O required.

 

I don't understand your post, unless you are referring to agents who bribe the IO to look the other way, when it comes to the origin and age of the 800K deposit.

 

[Phillip9]

4 minutes ago, Lacessit said:

I don't understand your post, unless you are referring to agents who bribe the IO to look the other way, when it comes to the origin and age of the 800K deposit.

 

This whole thread is about dropping below the required 800k.  Any talk of an agent here would not be just for hand holding.

[DrJack54]

7 minutes ago, Lacessit said:

I don't understand your post, unless you are referring to agents who bribe the IO to look the other way, when it comes to the origin and age of the 800K deposit.

 

The Vast majority of expats using agents are to avoid the financials.

Some by financial need and some because they don't want to keep money in Thai bank and some to lessen contact with immigration.

Appears you were just hand holding.

Very much minority group. 

[spidermike007]

Very simple solution. When it is time to renew, explain the issue, and ask any immigration agent, at any office how much it will be for them to create bank statements for you. They are ALL for sale 

[hotandsticky]

11 minutes ago, Lacessit said:

I used an agent in CM for about 4 years. Charged me 7000 baht to hold my hand at Immigration.

 

I realized I was doing all the grunt work in assembling the paper forms. I then did it myself in the ensuing years there and in Chiang Rai. No new non-O required.

 

I don't understand your post, unless you are referring to agents who bribe the IO to look the other way, when it comes to the origin and age of the 800K deposit.

 

 

 

The IO's don't 'look the other way'......they look dead ahead at the package of cash that accompanies each agent's daily daily 'non-conforning' applications.

 

Standard, and probably the favoured, practice for the IO.

[Lacessit]

2 minutes ago, DrJack54 said:

 

The Vast majority of expats using agents are to avoid the financials.

Some by financial need and some because they don't want to keep money in Thai bank and some to lessen contact with immigration.

Appears you were just hand holding.

Very much minority group. 

I always had the 800K on deposit in my own account, from the get-go.

[Lacessit]

1 minute ago, hotandsticky said:

 

 

The IO's don't 'look the other way'......they look dead ahead at the package of cash that accompanies each agent's daily daily 'non-conforning' applications.

 

Standard, and probably the favoured, practice for the IO.

Figure of speech.

 

I suppose it depends on whether people think they can do better elsewhere with the money.

 

If an agent is charging 30,000 baht to avoid the financials, that equates to an interest rate of 30,000X100/800,000 = 3.75%.

 

I would need to be making at least 2% more on outside investments to be worthwhile, and there's also tax to consider.

 

YMMV, I can't be bothered.

 

 

[hotandsticky]

20 minutes ago, Lacessit said:

Figure of speech.

 

I suppose it depends on whether people think they can do better elsewhere with the money.

 

If an agent is charging 30,000 baht to avoid the financials, that equates to an interest rate of 30,000X100/800,000 = 3.75%.

 

I would need to be making at least 2% more on outside investments to be worthwhile, and there's also tax to consider.

 

YMMV, I can't be bothered.

 

 

 

Now do your calculation based in 12,500 Baht ........and refer back to my Premium Bonds return of 6%.

[Lacessit]

Just now, hotandsticky said:

 

Now do your calculation based in 12,500 Baht ........and refer back to my Premium Bonds return of 6%.

Extension 1900 baht. Multiple re-entry 1900 baht. Leaving 8700 baht split between agent and IO.

 

Agent has 800 K on deposit, earning 1% interest.

 

Which office accepts a bribe that low?

[DrJack54]

19 minutes ago, Lacessit said:

Extension 1900 baht. Multiple re-entry 1900 baht. Leaving 8700 baht split between agent and IO.

 

Agent has 800 K on deposit, earning 1% interest.

 

Which office accepts a bribe that low?

Your post along with posts re agents from others is somewhat off topic. (including this post) 

 

However FYI the 800k goes into account and out . 

 

The 12500 from post you quoted is 12 month extension. Pattaya agent. 

 

Multi reentry permit is 4k extra.

 

The "opportunity cost" on having 800k in a Thai bank earning very little interest is not insignificant.

 

My super fund is + 8% over many years. Including financial collapse. That's over 64k baht per year. 

No wonder some expats chose agent.

Up to the individual. 

[Pattaya57]

1 hour ago, Lacessit said:

I always had the 800K on deposit in my own account, from the get-go.

So crazy to use an agent then. I did mine myself for 1900 baht and it took 40 minutes at immigration. 

[Lacessit]

13 minutes ago, DrJack54 said:

Your post along with posts re agents from others is somewhat off topic. (including this post) 

 

However FYI the 800k goes into account and out . 

 

The 12500 from post you quoted is 12 month extension. Pattaya agent. 

 

Multi reentry permit is 4k extra.

 

The "opportunity cost" on having 800k in a Thai bank earning very little interest is not insignificant.

 

My super fund is + 8% over many years. Including financial collapse. That's over 64k baht per year. 

No wonder some expats chose agent.

Up to the individual. 

True, there's an opportunity cost. I have enough money to last longer than my life expectancy by a big margin, so it's not a concern.

 

Is there a thread which identifies which regional offices have similar agent/IO relationships to Pattaya? I'm sure it would be of interest to most ASEAN members.

[DrJack54]

11 hours ago, Lacessit said:

Is there a thread which identifies which regional offices have similar agent/IO relationships to Pattaya? I'm sure it would be of interest to most ASEAN members.

Please 28k posts and you are not aware of agents throughout Thailand to cover financials for extensions based on retirement.

 

There are threads asking for agent recommendations for most offices.

Is your question serious.

Here is thread for agents in Bangkok.

https://aseannow.com/topic/1297659-visa-agents-in-bangkok-for-retirement-extension/

 

 

 

[Utalk2mutt]

This happened to me fortunately I have another account. I went to immigration explained what happened they said go to your other bank (Kasikorn) in this case get a letter and statements and we will put it together with your Krungsri account paperwork and  your good to go.

[DrJack54]

11 minutes ago, Utalk2mutt said:

This happened to me fortunately I have another account. I went to immigration explained what happened they said go to your other bank (Kasikorn) in this case get a letter and statements and we will put it together with your Krungsri account paperwork and  your good to go.

Thanks for post.

Seems I will be fine as I had same situation as yourself.

My plan is to start monthly activity in sleeper account and at time of extension will obtain bank letter from both accounts along with 12 month bank statements 

[Lacessit]

10 hours ago, DrJack54 said:

Please 28k posts and you are not aware of agents throughout Thailand to cover financials for extensions based on retirement.

 

There are threads asking for agent reconstructions for most offices.

Is your question serious.

Here is thread for agents in Bangkok.

https://aseannow.com/topic/1297659-visa-agents-in-bangkok-for-retirement-extension/

 

 

 

I take it you did see where I am located?

[WDSmart]

I have most recently been on a Type O visa and have gotten a one-year extension based on Retirement with 800K in the bank. Last year, my balance dipped below 800K, so I thought I would have to switch to a Marriage one-year extension, which takes a lot more paperwork. When I talked it over with my local Immigrations, they suggested I look at a Monthly Deposits extension. For that, you have to show you make monthly deposits into your Thai bank account for more than THB 67K (I think this is the amount). I transfer my USA Social Security monthly payments to my Thai bank account every month, so I easily qualified.

Long story short... Last week, I went down and got a one-year extension based on my Retirement using monthly deposits.

Just a suggestion for you to check out... 

[DrJack54]

23 minutes ago, WDSmart said:

Long story short... Last week, I went down and got a one-year extension based on my Retirement using monthly deposits.

I'm also changing to income method (65k/month) the io at CW made it very clear ..yes can change showing 12 monthly transfers however MUST maintain the 800k for 3 months after current extension approved. 

[hotandsticky]

2 minutes ago, DrJack54 said:

I'm also changing to income method (65k/month) the io at CW made it very clear ..yes can change showing 12 monthly transfers however MUST maintain the 800k for 3 months after current extension approved. 

 

 

At Jomtien I was told the same - Plus, 400k minimum for the remainder of the approval period.