Chiang Mai Immigration Office

[Sparkles]

Only post this as a few weeks ago there was some confusion over retirement extensions and what bank accounts you are allowed to keep your funds in.

Today my application went through without a hitch, as it has in the previous few years, based on a tad over 800,000 baht in a Bangkok Bank FIXED DEPOSIT account.

The question of it having to be, or should be, in a savings account was never mentioned. Interestingly yesterday when I arranged the Bank letter and discussed this matter with Manager he had for the first time been contaced by CM Immigration regarding an applicant that had been processed a few days before .Immigration wanted to know how much money was in the savings account at yesterdays date. apparently there was only a touch over 8,000 baht left. Not against the law as I understand it but maybe there might be another amendment on the way !!!!

In closing Immigration was quite busy from 8 am this morning but all seemed to be being processed quite smoothly. We were out before 10am.

[slapout]

This type of info to be given out by the bank brings a few questions to mind. How was the contact made? Why would the bank give this info to anyone, unless the individual whose account it is, was present or gave prior approval? Why would the bank employee even discuss someones account activity with you? If the contact came several days after application, was the extension granted? I have heard of banks give general info to someone holding a check that did not clear, and they want to try to get monies by submitting a second time (not Thai bank) but this sounds like a complete lack of customer confidentiality. Just my two cents worth

[antony77]

I have always understood that you must have 800k in your bank 3 months before you apply for your extension and this money must also be in your account at the time of your appliction

[PennyFarthing123]

I don't think it is a breach of confidentiality if the account holder was not disclosed. The bank manager was just saying that immigration had requested information regarding an "account". Also I got the impression that the request was a few days ago. Not a few days after the extension request.

[Patriciachas]

Fixed deposit accounts are fine ,stock market based accounts are not.

[caf]

Fixed deposit accounts are fine ,stock market based accounts are not.

Patriciachas, it depends on the view of the officer.

The saying " Rules is rules" - does not apply here in the Land of Scams.

You would never get Immigration to put your point on fixed deposits in writing and my own bank told me that whatever the rules are it is down to "interpretation" on the day.

[Patriciachas]

Fixed deposit accounts are fine ,stock market based accounts are not.

Patriciachas, it depends on the view of the officer.

The saying " Rules is rules" - does not apply here in the Land of Scams.

You would never get Immigration to put your point on fixed deposits in writing and my own bank told me that whatever the rules are it is down to "interpretation" on the day.

a fixed deposit account will not be refused.

1 it cannot drop below 800,000 baht if that amount is in when you open the account.

2. It is accesible at any time.

3.A fixed deposit stock based account can drop below the 800,000 limit that is why they do not allow them.

[caf]

Fixed deposit accounts are fine ,stock market based accounts are not.

Patriciachas, it depends on the view of the officer.

The saying " Rules is rules" - does not apply here in the Land of Scams.

You would never get Immigration to put your point on fixed deposits in writing and my own bank told me that whatever the rules are it is down to "interpretation" on the day.

a fixed deposit account will not be refused.

1 it cannot drop below 800,000 baht if that amount is in when you open the account.

2. It is accesible at any time.

3.A fixed deposit stock based account can drop below the 800,000 limit that is why they do not allow them.

If it is accessible at any time there is obviously no problem. But that is not a FIXED term deposit which is what you seemed to be implying. Nowhere in your post was there mention of instant access. What is the actual name of the account you are talking about. Is it a savings account at a fixed rate. Though why anyone would want to fix a rate at current levels escapes me.

[Patriciachas]

Fixed deposit accounts are fine ,stock market based accounts are not.

Patriciachas, it depends on the view of the officer.

The saying " Rules is rules" - does not apply here in the Land of Scams.

You would never get Immigration to put your point on fixed deposits in writing and my own bank told me that whatever the rules are it is down to "interpretation" on the day.

a fixed deposit account will not be refused.

1 it cannot drop below 800,000 baht if that amount is in when you open the account.

2. It is accesible at any time.

3.A fixed deposit stock based account can drop below the 800,000 limit that is why they do not allow them.

If it is accessible at any time there is obviously no problem. But that is not a FIXED term deposit which is what you seemed to be implying. Nowhere in your post was there mention of instant access. What is the actual name of the account you are talking about. Is it a savings account at a fixed rate. Though why anyone would want to fix a rate at current levels escapes me.

Caf

i agree with you why would anyone want a fixed rate account at this moment i time.what i am saying is they will accept fixed rate accounts as long as they are not stock based.

A Fixed deposit account for 6,12,24,36,months can be accesed at any time but only the basic interest rate will be paid at the bank specified rate.The name of the account is Fixed Deposit Account.

Their will be no problem with this type of account.

A stock market based fixed term account would not be allowed because your funds could drop below the minimum limit during its term.

Edited December 24, 2009 by Patriciachas

[caf]

Just to claify for everyone as I would not want anyone to be caught out by this.

The ONLY acceptable deposit is one that has instant withdrawal facilities.

Normally that is a savings account paying very little interest. Apparently some banks offer a "fixed deposit " account which allows instant access. It has a fixed interest rate of around 0.65% pa. If you withdraw in the period the interest goes back to the savings rate anyway.

What is not accepted is a TERM deposit where the money can not be withdrawn on instant access until the end of the term

Showing a bank book with the word FIXED on it may give the impression it is a term account. You could argue the point with the officer of course. Personally I would not want to get in to that scenario with other officers being called in etc. Not for just a few baht.

Keep the renewal process simple, give all the information listed, be polite, don't get people's backs up. Whether you are right or not, long term I would not put a Thai in immigration in a face losing position. In Thailand it is not only elephants that have long memories.

[Sparkles]

I don't think it is a breach of confidentiality if the account holder was not disclosed. The bank manager was just saying that immigration had requested information regarding an "account". Also I got the impression that the request was a few days ago. Not a few days after the extension request.

There was no breach of confidentiality, the name of the account holder was never mentioned or asked for. It was just a remark in passing as the Bank person in question had never received a call from Immigration before. My bank book clearly shows "Fixed Account" on the front cover and inside pages. Although it is a "fixed account"" monies can be withdrawn, as I did several mths ago to pay some hospital bills.My balce never dropped below 800,000 i merely ate up interest earned. If you do withdraw before the fixed term period your interest is reduced .The interest now is so low it doesnt really matter.

The reason I posted this originally was to allay the fears of anyone who had renewal coming up. Seems som eposter wil not accept that a fixed teerm account is ok with CM Immigration.

[caf]

I don't think it is a breach of confidentiality if the account holder was not disclosed. The bank manager was just saying that immigration had requested information regarding an "account". Also I got the impression that the request was a few days ago. Not a few days after the extension request.

There was no breach of confidentiality, the name of the account holder was never mentioned or asked for. It was just a remark in passing as the Bank person in question had never received a call from Immigration before. My bank book clearly shows "Fixed Account" on the front cover and inside pages. Although it is a "fixed account"" monies can be withdrawn, as I did several mths ago to pay some hospital bills.My balce never dropped below 800,000 i merely ate up interest earned. If you do withdraw before the fixed term period your interest is reduced .The interest now is so low it doesnt really matter.

The reason I posted this originally was to allay the fears of anyone who had renewal coming up. Seems som eposter wil not accept that a fixed teerm account is ok with CM Immigration.

Read my post again. There is no problem if funds can be withdrawn. But Fixed has the connotaion of Term which is not allowed.

As I said my concern is for anyone who might be mislead by putting money in an account which then turns out not to be accetable to immigration.

And if you think Thai banks will never mis-sell an account or give you full information. Think again.

For 3 months of the year my 800 is clearly in an account they accept. I don't want surprises on renewal day. " Oh, but officer my bank assured me....."