Steps To Securing A Retirement Visa

[MrMuddle]

As an aside if anyone knows how to get in touch with the chaps from the Bangkok bank, that sometimes post on here, I'd be grateful. Thanks

[jwdub]

You will want a Thai baht account. Open the account with Thai baht. You can change dollars at many thousands of locations all over Thailand. You can also get Thai baht out of ATM machines with your U.S. bank account ATM cards. (Ummm, have you been here before? )

When you do the SWIFT transfer (or wire as you call it) be sure to send U.S. dollars, not Thai baht! If you convert the baht in the U.S. first, you'll get a horrible rate. Your Thai baht bank account will automatically convert the incoming dollars into baht.

You should get ONLINE ACCESS for your Thai bank account. Depending on the bank, that can take more time to get set up than you think. But be sure to sign up for it (and get an ATM card as well) when you open your Thai bank account.

About the SWIFT transfers. I don't know what Schwab told you but that sounds pretty weird. The USUAL arrangement is that YOU personally must initiate the SWIFT request to Schwab including of course the Thai bank account details. Name, account number, SWIFT code of Thai bank, sometimes address of Thai bank main branch and/or your branch. This is important. Be sure to open your Thai bank account with the EXACT same name as your U.S. bank account(s). If there is a name difference, you've got a problem. I have never heard of a Thai bank initiating the SWIFT request with the U.S. bank for you. Maybe that happens, but it's news to me. You say they want the SWIFT initiated by Fax. Well, I really think that means that YOU will be doing the Fax, not your Thai bank. If I were you, I would get clear on this and also find out if you can initiate a SWIFT transfer with a PHONE CALL or another method than Fax, or if you are restricted to fax.

Just got off the line with Schwab and once again you speaketh the truth. My initial SWIFT request has to be initiated by fax by myself, but future transfers can be requested by phone They also will transfer over in US dollars. Boy you weren't kidding when you said in Post 6 in this thread I've got a lot to learn. Egads now I need to condense all this info as I've got it on the back of envelopes, sticky pads and misc slips of paper.

[lopburi3]

Jingthing, yes the Branch is the same one I opened the account with. They are drinking in the last chance saloon this year ! I've had this account for 5 years, I leave the 800K in it all the time, and every year I have to argue with the staff to get a letter for immigration. From other posts, it seems Kasikorn have a form pre-printed, i wish my bangkok bank branch would do this. i have to tell them exactly what to write on the letter, they always come up with all kinds of ridiculous excuses, such as the book must be sent to head office, before a letter can be issued. They always end up giving me the letter in the end, the manager always comes out of his office to apologise, but why can't they get it right in the first place !

Make a copy and show them each year - they do have a request form available at teller desk you are supposed to fill out for them to then format onto a typed version but very hard to understand (especially if you want in Thai and don't understand it) so one you have an acceptable letter just show each time (pointing out to change the account balance perhaps).

[thaibeachlovers]

Agree. The OP should be able to open a Thai bank account. If one says no, go down the block. It will be possible.

Applying 30 days before your permission to stay ends is totally normal at any office! And yes you don't lose any time on the extension; the date starts from the ending of the current permission to stay. Waiting until the last minute is folly.

I totally disagree that it is necessary or desirable to keep the 800K in there permanently! You can if you want but it seems totally wasteful to me. TYPICALLY, people spend down on it and top up annually. The trick is of course to have your mechanics setup to do later money transfers into Thailand.

I have no idea what you're talking about by saying people are having trouble accessing their account during the seasoning time. That doesn't make any sense. What does the bank know about your seasoning time? Its just a bank account to your bank. Obviously, as soon as you get the immigration letter you absolutely do not want to touch your account at all until it is used for the application for annual extension. But typically people get the letter the previous day, or the same day. Hardly a burden not to touch your account during such a short period of time.

There was a post some time ago from someone that had a problem with immigration because they'd used their account during the seasoning time. Turned out it was probably a scam to get some tea money, but if you can avoid using the account during that time, it's one thing less for them to make a problem over. TIT.

[lopburi3]

That was more likely an officer now aware of correct procedures. The requirement is at or above (not less than) ...k during the period required - not that it remain at a set amount. But if any transaction takes it below then a new period would have to start when at or above level again, so you do have to be careful.

[Jingthing]

Yes, it can't go one baht below 800K baht or you've killed the seasoning, but keeping it above 800K you can use it all you want during the seasoning months.