Retirement Visa - Pension Exchange Rate

[JayBangkok]

Hi,

I am a Brit about to renew my retirement visa at the end of April.

This year I have a letter from the British Embassy certifying the amount of my UK pensions.

The question is what exchange rate does Immigration use?

The GBP swings wildly against the Baht and I have no idea what irt will be in 3 months time.

Thanks for any help

Jay

[lopburi3]

They will use what they believe it is on the date of application. Normally that will be close to what the banks say.

[JohnC]

I was informed by Chonburi Immigration last year that they use the Bangkok Bank rate on the date of application.

[Pib]

I was informed by Chonburi Immigration last year that they use the Bangkok Bank rate on the date of application.

Wonder if they use the lower "Bank Note" rate of the day, like when exchanging paper money which was 47.24 Baht/Pound when looking at the Bangkok Bank currency exchange rates web page at this moment in time; Or do they use the higher TT Buying rate used for wire transfers which is 47.615 on the Bangkok Bank page right now? I know this 0.8% difference in exchange rate ain't much, but I guess it can make all the difference for some folks on the borderline of meeting the income requirement. Guess the safest way to play it for planning purposes is to use the Bank Note lower rate.

[theoldgit]

Good to plan, but unfortunately a lot could change in a couple of months, though it could go either way..

When I went last year the IO asked me what rate I was using, there certainly didn't seem to be a set rate for that day.

[lovelomsak]

They checked my exchange rate one time in Nan. The immigration officer simply went online to bangkok bank got the rate for the dollar at that time and did the math on his calculator. I amnot sure if all offices will do it this way.

[Pib]

Does anyone know which exchange rate Immigration uses: the Note rate, the Sight Bill rate, the TT rate, etc?

Personally, I feel a person needs to plan on Immigration using the lower Note rate and, if possible, the person should have a cushion amount in case the exchange rate drops significantly, but it would be nice to know what rate Immigration uses.

[GuyDow]

The last 3 times I have got a letter from the British Embassy to confirm my income for a retirement extension they have given the income figure in both Sterling and Thai Baht. I provided the Thai Baht figure and had evidence to justify the exchange rate used (e.g. credit card transactions, ATM withdrawals). The British Embassy did not debate the figures I provided or ask me to justify them. They just typed them up as I had given them.

When I took the letters to Thai immigration, which I do as soon as I can once I have them, the officers there just read off the Thai Baht figure in the Embassy letter. Again, no questions were asked about exchange rates. This was the case in Suan Phlu previously and now in my new local office in Nakorn Pathom.

[Colabamumbai]

Korat Immigration used a sheet for exchange that was printed out and under plastic. I saw it last week and it looked like maybe it was at least a week old. They actually checked my affidavit and multiplied it by Bhat according to their exchange rate. I Iooked at the sheet it was something like Canadian 30.10 Bhat U.S 3.20 Bhat but don't quote me exactly. My affidavit did not have the amount in Bhat, but in Canadian dollars.

Edited January 14, 2011 by Colabamumbai

[Kwasaki]

I would work to 40 baht at the moment, that way your giving yourself plenty enough elbow room.

I take you want to use part of your pension income plus what funds you have in the bank for your 1 year extension to stay. ?

That's what I'll be wanted to do next year, then I can buy a new hat.