Yet Another Retirement Funds Question

[hereforgood]

I will be applying for my Retirement Visa in Thailand thanks to this board I understand how to do it as well as what I need

The question I have is I will be transfering the Money (800,000) from the states that is needed and I will just leave it there and live off my income from my investments Drawing with my ATM. so will I have a hard time when I go to renew my retirement visa the second year ? Will they ask how did I live with out taking any money from My Thailand account ?

Thanks

Edited October 8, 2005 by hereforgood

[lopburi3]

Yes you will probably get such questions but to avoid them is easy. They like to see wire transfers so do what they like.

Obtain an ATM card for your Thai bank and you can they draw from that 800k for expense without an fees or currency transfer loss. Then when it get down do wire transfer from your investment account, sending foreign currency for conversion in Thailand. You get the best exchange rate and if you do large amounts the fee is not that much. And this allows immigration to see a bank passbook with living expense obvious. Once you start to use local atm card do not believe you would want to return to what you do now as they are much easier to use in any ATM Pool machine.

[barryofthailand]

If you have retirement incom, you do not have to maintain a balance of 800,000 baht. Go to the American embassy and get your retirement income certified, and take a copy with you when you apply for your visa. You will need a bank account, with a balance of 10,000 baht or so. Very easy. Your visa will be issued in a few hours.

Barry

[hereforgood]

If you have retirement incom, you do not have to maintain a balance of 800,000 baht. Go to the American embassy and get your retirement income certified, and take a copy with you when you apply for your visa. You will need a bank account, with a balance of 10,000 baht or so. Very easy. Your visa will be issued in a few hours.

Barry

<{POST_SNAPBACK}>

Thanks Lop and Barry,

This is going to be a problem for me as My son is on my bank accounts back home and he will transfer the 800,000 for me but soon after he will be going back To PI for good and the bank will not wire transfer with out his or my being there in person. Even though I manage my account on line.

As for Retirement income there is no pention coming in as I will live off interest income so that won't work in my case Any other Ideas ? Looks kike I will just have to take my chances again thanks for the help

Hereforgood.

[lopburi3]

Change your bank to one that will. There is no reason your bank can not act in your interest. If they do not change.

FYI: You first have to fill out a wire transfer agreement with password type information but any normal bank should accept fax and many phone transfers and a few online transfer.

If you need to keep present bank for investment reasons just open a new account at another bank and transfer funds to it when you need to make transfers. Surly they allow bank to bank transfer without you being there?