Yet Another New Regulation For Retirement Visas

[MickeyM]

Anyone had experience with using a foreign currency savings account (US$, etc) in a Thai bank to meet the 800K requirement?

[ChiangMaiFun]

Anyone had experience with using a foreign currency savings account (US$, etc) in a Thai bank to meet the 800K requirement?

Yes - I did it last year... had a GBP account at Ayutthaya - no problems... bank gave letter with amount on - but I think it could be risky on an 'off' day at immigration

I decided to transfer it into a savings account (800k) as I felt it was easier and less potential hassle

[annabel]

Anyone had experience with using a foreign currency savings account (US$, etc) in a Thai bank to meet the 800K requirement?

Yes - I did it last year... had a GBP account at Ayutthaya - no problems... bank gave letter with amount on - but I think it could be risky on an 'off' day at immigration

I decided to transfer it into a savings account (800k) as I felt it was easier and less potential hassle

THANKS EVERYBODY !!! Will know better next year

[Asmerom]

Yeah, lopburi3 has it right.

I think I have this nomenclature figured out.

The OP has money in a "Fund" account.

That is a mutual fund account; i

I renewed last March 09 with money in Kasikorn K-Treasury Fixed Income Fund where the money is accessible the next day. They accepted it then but he was very clear that such an account would NOT be acceptable next time-March 2010. I've now transferred to my Savings account.

[ChiangMaiFun]

Yeah, lopburi3 has it right.

I think I have this nomenclature figured out.

The OP has money in a "Fund" account.

That is a mutual fund account; i

I renewed last March 09 with money in Kasikorn K-Treasury Fixed Income Fund where the money is accessible the next day. They accepted it then but he was very clear that such an account would NOT be acceptable next time-March 2010. I've now transferred to my Savings account.

Can I be clear? you mean the savings account which has no interest (at Ayuttahya the yellow book)? or a savings account which locks in your savings for 1,2 or 3 years and gives you a low interest rate?

[Asmerom]

I renewed last March 09 with money in Kasikorn K-Treasury Fixed Income Fund where the money is accessible the next day. They accepted it then but he was very clear that such an account would NOT be acceptable next time-March 2010. I've now transferred to my Savings account.

Can I be clear? you mean the savings account which has no interest (at Ayuttahya the yellow book)? or a savings account which locks in your savings for 1,2 or 3 years and gives you a low interest rate?

I mean an Account where the money is immediately accessible, which is what immigration is concerned about, I suppose. For some reason Kasikorn call it a Savings Deposit Account. As far as I know it doesn't attract interest. I have a Visa Debit Card linked to it.

PS. This is the third time I've tried to upload this reply; hope it works this time.Think I left too many "quotes" in.

[ChiangMaiFun]

I renewed last March 09 with money in Kasikorn K-Treasury Fixed Income Fund where the money is accessible the next day. They accepted it then but he was very clear that such an account would NOT be acceptable next time-March 2010. I've now transferred to my Savings account.

Can I be clear? you mean the savings account which has no interest (at Ayuttahya the yellow book)? or a savings account which locks in your savings for 1,2 or 3 years and gives you a low interest rate?

I mean an Account where the money is immediately accessible, which is what immigration is concerned about, I suppose. For some reason Kasikorn call it a Savings Deposit Account. As far as I know it doesn't attract interest. I have a Visa Debit Card linked to it.

PS. This is the third time I've tried to upload this reply; hope it works this time.Think I left too many "quotes" in.

Hi - yes - this may still mean my account (long term savings account) may be ineligible. Sounds like you are in the ordinary 'savings account' - supply a book and no interest and instant access. Mine's a 1 or 2 year account with 0.75% interest but locked in - I'm still concerned that I will turn up and it gets rejected - and I have to worry about the 3 month rule - better I transfer now I think.

[Asmerom]

Hi - yes - this may still mean my account (long term savings account) may be ineligible. Sounds like you are in the ordinary 'savings account' - supply a book and no interest and instant access. Mine's a 1 or 2 year account with 0.75% interest but locked in - I'm still concerned that I will turn up and it gets rejected - and I have to worry about the 3 month rule - better I transfer now I think.

I think you're right.

You could always pop down and ask. Though I wouldn't trust any reply I was given, as the officer you see when you actually go to renew might take a different view!

As you say," Better safe than Sorry".

My Kasikorn account in the UK would be called a current account but ,as I say, Kasikorn call it : "Savings Deposit Account". Mustn't be locked or attract interest ; Heavens No.

[Lost in LOS]

I am assuming [a dangerous thing in thailand] that they want you to have your funds available to spend at all times that is why they want 800k so you can support yourself. Not saying I agree with it but it makes sense since you cannot easily get to your money in a 'fund". We are allowed to stay here because we spend money for the economy and locking up your money doesnt help

[ChiangMaiFun]

I am assuming [a dangerous thing in thailand] that they want you to have your funds available to spend at all times that is why they want 800k so you can support yourself. Not saying I agree with it but it makes sense since you cannot easily get to your money in a 'fund". We are allowed to stay here because we spend money for the economy and locking up your money doesnt help

That's sort of true but the money is in a Thai bank- just in an account that gives a nominal interest (anyway no chances I'm closing it). I'll open up a second 'savings' account and shove it in there... still it does seem a sledgehammer to crack a nut TIT

[Lost in LOS]

I am assuming [a dangerous thing in thailand] that they want you to have your funds available to spend at all times that is why they want 800k so you can support yourself. Not saying I agree with it but it makes sense since you cannot easily get to your money in a 'fund". We are allowed to stay here because we spend money for the economy and locking up your money doesnt help

That's sort of true but the money is in a Thai bank- just in an account that gives a nominal interest (anyway no chances I'm closing it). I'll open up a second 'savings' account and shove it in there... still it does seem a sledgehammer to crack a nut TIT

the real sucky part is not only do you have to have 800k in the bank, a lot when you consider bad exchange rate, but you have to have it for 3 months. This means you need much more since you need to live those three months which makes it more like 1,000,000

[Mario2008]

1 post deleted for being off topic.

[Asmerom]

the real sucky part is not only do you have to have 800k in the bank, a lot when you consider bad exchange rate, but you have to have it for 3 months. This means you need much more since you need to live those three months which makes it more like 1,000,000

I vaguely remember someone telling me that the first time you renew, you must have had the 800k in the Bank for three months then, after that, for subsequent yearly renewals its only two months. This maybe just a wild rumour.

[Mario2008]

the real sucky part is not only do you have to have 800k in the bank, a lot when you consider bad exchange rate, but you have to have it for 3 months. This means you need much more since you need to live those three months which makes it more like 1,000,000

I vaguely remember someone telling me that the first time you renew, you must have had the 800k in the Bank for three months then, after that, for subsequent yearly renewals its only two months. This maybe just a wild rumour.

It is the other way around. First time only 2 months, after that 3 months.

If using the combination method, (income and money in the bank) there is no seasoning at all.

[SM7WGP]

If you are married in Thailand for those who are, Why not get a spouse VISA more easy and you need only 40K baht a month in income or 400 k in the bank.

[Thailand]

Anyone had experience with using a foreign currency savings account (US$, etc) in a Thai bank to meet the 800K requirement?

Yes - I did it last year... had a GBP account at Ayutthaya - no problems... bank gave letter with amount on - but I think it could be risky on an 'off' day at immigration

I decided to transfer it into a savings account (800k) as I felt it was easier and less potential hassle

THANKS EVERYBODY !!! Will know better next year

Probably not, chances are something else will have changed or the officer will have had another bad day.