Visa panic setting in....

[OMGImInPattaya]

"Emergencies can be handled with wires."

Who will handle that for you? To whom, if you are even conscious, will you give your account numbers, your PIN numbers and such?

It's not necessary to keep 800,000 baht in a Thai bank. You can get the retirement extension with any combination of cash and stated income. Or get the extension based solely on stated income but keep some worthwhile amount like 200,000 bank in the bank anyway.

I completely agree...all if you out there who don't have substantial amounts Ina Thai bank for medical emergencies are shaking in very thin ice! I would but the figure a bit higher...maybe a minimum of 250-300,000 baht. I don't know what concern people have about "Thai" banks...wasn't it the Western banking system that was on the verge of collapse only a few short years ago, while the Asian banks sailed through the crisis unscathed? Sure there is some risk, but there is risk in everything in life and the riskt of being stranded in a medical emergency and unable to access one's funds is a big one as well.

Most people never worry about it until it happens; but don't forget, as said above, one May be in no condition to access ones funds from abroad at a critical time if one falls ill. Even access in Thailand can be difficult but at least the funds are already here and arrangements can be made to access it. And if you are, do you have easy access to all your PINS and such and are you willing to give such personal information to hospital personnel if necessary. Do you have it pre-arranged with friends who have this information in case of an emergency?

...All just slightly under the USD 10,000 that triggers the special FATCA reporting (for U.S. taxpayers). (...assuming the exchange rate doesn't sink below 30THB/USD, and you have no other foreign accounts or assets anywhere...)

That wasn't the point, it's to have sufficient funds in LOS in event of an emergency. For actual committed expatriates, that would be basically all one's assets.

[EBlair48]

"...hence the dislike of having any funds in a Thai bank. I know that that alone would make a Retirement Visa easy enough)... but come on... They offer even less than US banks and the rules makes it silly to contemplate. Besides ATM's are my best friends...lol."

Staying in Thailand on Tourist Visas is not likely to work out well for you. Start with one, come over here, get an income affidavit from the U.S. Consulate in Bangkok or Chiang Mai, get your visa status upgraded to a Non-Immigrant O then extend it annually based on retirement. You won't need to keep 800,000 baht in a Thai bank.

Having said that, it's not very practical nor wise to live off ATM withdrawals. It's inefficient fee-wise and may put you on the spot if you suddenly need cash for something like a medical emergency.

Thai banks, by the way, offer at least 2.5% for one year fixed accounts. If you can do better than that at a U.S. bank, please let us know.

I thought the 800,000 was a requirement for RV ?

[ubonjoe]

I thought the 800,000 was a requirement for RV ?

The 800k baht in the bank is not the only option.

You can use proof of 65k baht income or a combination of money the bank and income to reach a total of 800k baht (For example 600k annual income and 200k in the bank).

[TechnikaIII]

When the time comes for me to have the required funds in a Thai Bank, it will be with citibank Thailand. Already, the extortionate ATM fee of 180 Baht from other Thai banks is a thing of the past for me. I was previously using Commonwealth in Australia, and DNB in Norway, both of whom charge heaps for everything. Last year I opened an account with citibank Australia They charge me nothing from the Australian end, and cash withdrawal is free at the Thai end when I use citibank ATMs.

[mahjongguy]

"When the time comes for me to have the required funds in a Thai Bank, it will be with citibank Thailand."

Citibank Thailand is probably a perfectly good bank but as you may know it is not the same bank as Citibank Australia, and they only have three branches, all in Bangkok. You will need to visit a branch at least annually in order to get the "bank letter" required by Immigration. You would also want assurance that you can use ATMs of other Thai banks at least several times a month without a fee. That's the arrangement in place for the big banks but there's no reference to it on the Citibank Thailand website.

[Seligne2]

I thought the 800,000 was a requirement for RV ?

The 800k baht in the bank is not the only option.

You can use proof of 65k baht income or a combination of money the bank and income to reach a total of 800k baht (For example 600k annual income and 200k in the bank).

To be clearer about this: In Thailand to get an A-O (retirement) visa extension you show Thai bank statements that prove that you have had 800K baht in your account for a minimum of 3 months prior to the date of your application, or, you prove that you have 65K baht monthly income in Thailand (most commonly proven with a notarized statement from your embassy/consulate), or you have a combination of the two that exceeds 800K baht.

When applying for an A-O visa while still in your home country, you provide proof to the consul that you have a home country equivalent exceeding 800K baht.

[gemguy]

Just arrange for the retirement visa ...whether you do it all on your own to save money or use a visa agent to help you obtain everything that is involved.

I recommend you use an agent as it is so much less headache...but there is a price to be paid ...but it is well worth the price.

What headache...gather 3 or 4 pieces of paper and that's it. At least in pattaya/Jomtien it's quick and easy...my last buddy who did it last month was in and out in 20 minutes. The only headache would be getting the income certificate, if not using a bank deposit) and traveling to a Bangkok embassy to get it and an agent couldn't even do that for someone anyway. Usually, one can get the income letter during the embassy visitations to ones area, at least in the case of this American op.

OK..do it yourself.

I had my agent do it for me and I never had to leave the country.

Next day I had all the stamps in my passport

They transferred my tourist visa to a 90 day Non "O" visa and then the 1 year retirement extension was also in my passport at the same time while I did not have to show proof of monthly income nor did I have to actually have 800,000 baht in my account ..it was all arranged.

Cheers

[moe666]

To the OP --

I am no expert, merely an American living in Thailand for several years, now on a retirement visa living in Chiang Mai.

Based on my experience, if you're an American over 50, getting a Thai retirement visa is easier than falling off a chair.

Here is what I did:

1. Went to U.S. Consulate, got a notarized statement of monthly income (in dollars). (see note 1) Notary fee: 1,550 baht.

2. Took the income statement and my passport to a reputable agency that assists with Thai visas, paid a fee (including

the fee charged by Immigration Office) totaling about 8,500 baht.

3. About 2 weeks later the agency called me, I picked up my passport with the retirement visa already in it.

Before I came to retire in Thailand, I had read the posts of many TV members complaining about the pain and agony of

getting a retirement visa in Thailand -- I was frankly dumbfound at how easy and quick it was for me.

A few notes and caveats:

1. I'm the one who calculated the monthly income figure and entered that figure on the income statement. I did not,

repeat, did not need to show any proof of income whatsoever. Up to no no one has ever asked for proof of income.

2. I have since heard that for non-Americans proof of income is a more complicated issue. I have no idea why that is.

3. Someone correct me if I'm wrong -- If you get a 30-day or 60-day tourist visa prior to entering Thailand, and if you

use the services of a reputable agency you can easily get your "Non-O" retirement visa without leaving the country.

If you can do a retirement extension of stay without the help of a agency why can you not do the conversion to a non-o visa without there help. Yes you can do the conversion yourself.

[OMGImInPattaya]

"When the time comes for me to have the required funds in a Thai Bank, it will be with citibank Thailand."

Citibank Thailand is probably a perfectly good bank but as you may know it is not the same bank as Citibank Australia, and they only have three branches, all in Bangkok. You will need to visit a branch at least annually in order to get the "bank letter" required by Immigration. You would also want assurance that you can use ATMs of other Thai banks at least several times a month without a fee. That's the arrangement in place for the big banks but there's no reference to it on the Citibank Thailand website.

Yep, and how and where is the exchange rate being calculated...at the aus or Thai end of the transaction? There are some benefits with matching your Thai bank with a bank in one's home country if possible, but they are few, and as you say, and certainly inconvenient.

[OMGImInPattaya]

Just arrange for the retirement visa ...whether you do it all on your own to save money or use a visa agent to help you obtain everything that is involved.

I recommend you use an agent as it is so much less headache...but there is a price to be paid ...but it is well worth the price.

What headache...gather 3 or 4 pieces of paper and that's it. At least in pattaya/Jomtien it's quick and easy...my last buddy who did it last month was in and out in 20 minutes. The only headache would be getting the income certificate, if not using a bank deposit) and traveling to a Bangkok embassy to get it and an agent couldn't even do that for someone anyway. Usually, one can get the income letter during the embassy visitations to ones area, at least in the case of this American op.

OK..do it yourself.

I had my agent do it for me and I never had to leave the country.

Next day I had all the stamps in my passport

They transferred my tourist visa to a 90 day Non "O" visa and then the 1 year retirement extension was also in my passport at the same time while I did not have to show proof of monthly income nor did I have to actually have 800,000 baht in my account ..it was all arranged.

Cheers

Well your talking about something completely different then aren't you! If you don't legitimately qualify for a retirement extension, and have to resort to fraud to obtain it, then of course you'll have to use an "agent" and pay through the arse to get one.

[mutha289]

One thing to consider regarding ATM fees is to look for a bank that will rebate / reimburse you for such fees. Earlier this year my wife was in Thailand and when making ATM withdrawals she would do so in amounts between $300 to $500. Our bank reimbursed us $10 to $15 for each withdrawal. Since I wasn't there I'm not sure what the actual ATM fees were, but hopefully it was close to the amounts we were rebated. We bank with USAA, not sure if that is an option for the OP.

[csabo]

When the time comes for me to have the required funds in a Thai Bank, it will be with citibank Thailand. Already, the extortionate ATM fee of 180 Baht from other Thai banks is a thing of the past for me. I was previously using Commonwealth in Australia, and DNB in Norway, both of whom charge heaps for everything. Last year I opened an account with citibank Australia They charge me nothing from the Australian end, and cash withdrawal is free at the Thai end when I use citibank ATMs.

Unfortunately, Citibank US does not share the same benefits charging even a foreign transaction fee at Citibank ATM's in Thailand. I think it was about 3%. Thats thirty bucks to take a grand from an ATM. I buried that debit card in my wallet and will never take it out again. In fact I started moving all my Citi money to other banks for this reason.

[IsaanUSA]

Thai banks, by the way, offer at least 2.5% for one year fixed accounts. If you can do better than that at a U.S. bank, please let us know.

My credit union has a 3.01% APY high-yield checking account for balances under $10,000

[OMGImInPattaya]

Thai banks, by the way, offer at least 2.5% for one year fixed accounts. If you can do better than that at a U.S. bank, please let us know.

My credit union has a 3.01% APY high-yield checking account for balances under $10,000

And an extensive branch and ATM network in Thailand too I imagine.

[IsaanUSA]

Thai banks, by the way, offer at least 2.5% for one year fixed accounts. If you can do better than that at a U.S. bank, please let us know.

My credit union has a 3.01% APY high-yield checking account for balances under $10,000

And an extensive branch and ATM network in Thailand too I imagine.

Why would a U.S. bank have an extensive branch and ATM network in Thailand (a country on the opposite side of the planet)?

[BradinAsia]

To the OP --

I am no expert, merely an American living in Thailand for several years, now on a retirement visa living in Chiang Mai.

Based on my experience, if you're an American over 50, getting a Thai retirement visa is easier than falling off a chair.

Here is what I did:

1. Went to U.S. Consulate, got a notarized statement of monthly income (in dollars). (see note 1) Notary fee: 1,550 baht.

2. Took the income statement and my passport to a reputable agency that assists with Thai visas, paid a fee (including

the fee charged by Immigration Office) totaling about 8,500 baht.

3. About 2 weeks later the agency called me, I picked up my passport with the retirement visa already in it.

Before I came to retire in Thailand, I had read the posts of many TV members complaining about the pain and agony of

getting a retirement visa in Thailand -- I was frankly dumbfound at how easy and quick it was for me.

A few notes and caveats:

1. I'm the one who calculated the monthly income figure and entered that figure on the income statement. I did not,

repeat, did not need to show any proof of income whatsoever. Up to no no one has ever asked for proof of income.

2. I have since heard that for non-Americans proof of income is a more complicated issue. I have no idea why that is.

3. Someone correct me if I'm wrong -- If you get a 30-day or 60-day tourist visa prior to entering Thailand, and if you

use the services of a reputable agency you can easily get your "Non-O" retirement visa without leaving the country.

If you can do a retirement extension of stay without the help of a agency why can you not do the conversion to a non-o visa without there help. Yes you can do the conversion yourself.

The main reason I got the help of an agency in the first place was to avoid all the pain and agony reported by so many TVers.

Now that I know how polite and friendly the immigration folks are here and how simple the process is -- maybe I should've done it myself.

[gk10002000]

I am in a similar situation age-wise and income-wise. I am still working in the USA but am able to punch out at anytime. If I go the Non-O retirement visa route, are there any issues with me not being in Thailand for say 4 or 5 months? I might spend half my time in the USA or elsewhere. I don't mind going the retirment visa route, I just don't want to get it started and then have it disabled because I am out of country too long?

[slipperylobster]

"Emergencies can be handled with wires."

Who will handle that for you? To whom, if you are even conscious, will you give your account numbers, your PIN numbers and such?

Same goes if you put your money in Thailand... who will handle that if you are even conscious?

You cannot exactly get out of bed and run to Bank of Bangkok if you are immobilized...so either way you will be entrusting somebody.

I had a motorbike accident and had no choice but give my pin number to a friend. I then changed it. If you can do that, you can have them go online and wire as well... or use draw from an ATM here for you.

Not rocket science.

Banking is not as archaic as it used to be. A wire can be accomplished quickly... The hospital cannot run down to your bank here in Thailand for you.

[mahjongguy]

"or use draw from an ATM here for you."

An overseas ATM card is likely to have a daily limit in the range of $600.

"A wire can be accomplished quickly..."

Depending on holidays and such, it could easily be 4 days.

Anyway, it's not always about logic. People have their own reasons and emotions for or against keeping money here. Ten years ago I decided I would sleep better if I had a million baht in a local bank and I'm happy with it. Get decent interest too.

[OMGImInPattaya]

"or use draw from an ATM here for you."

An overseas ATM card is likely to have a daily limit in the range of $600.

"A wire can be accomplished quickly..."

Depending on holidays and such, it could easily be 4 days.

Anyway, it's not always about logic. People have their own reasons and emotions for or against keeping money here. Ten years ago I decided I would sleep better if I had a million baht in a local bank and I'm happy with it. Get decent interest too.

How many times has one tried to use a foreign ATM/credit card overseas and there is some security hold or other issue that pops up that needs to be cleared for the purchase to go through? I know it's happened to me often and it's the last thing one needs when one is seriously ill. Believe me, I've been there...seriously I'll in Thailand and the last thing one needs is the added stress of dealing with funding your care.

[OMGImInPattaya]

"Emergencies can be handled with wires."

Who will handle that for you? To whom, if you are even conscious, will you give your account numbers, your PIN numbers and such?

Same goes if you put your money in Thailand... who will handle that if you are even conscious?

You cannot exactly get out of bed and run to Bank of Bangkok if you are immobilized...so either way you will be entrusting somebody.

I had a motorbike accident and had no choice but give my pin number to a friend. I then changed it. If you can do that, you can have them go online and wire as well... or use draw from an ATM here for you.

Not rocket science.

Banking is not as archaic as it used to be. A wire can be accomplished quickly... The hospital cannot run down to your bank here in Thailand for you.

Yes they can. There are special laws or bank regulations that allow appropriate hospital personnel to access patient banks accounts for the purpose of payment for hospital expenses if the patient has given permission and is incapacitated.

[ubonjoe]

I am in a similar situation age-wise and income-wise. I am still working in the USA but am able to punch out at anytime. If I go the Non-O retirement visa route, are there any issues with me not being in Thailand for say 4 or 5 months? I might spend half my time in the USA or elsewhere. I don't mind going the retirment visa route, I just don't want to get it started and then have it disabled because I am out of country too long?

If you have an extension of stay (it is not a visa) based upon retirement granted by immigration you only have to be here to apply for your next extension. You just need to get a re-entry permit before leaving that will keep your extension valid when your return.

If you obtain a OA visa at an embassy or consulate it will valid for one year and will give you a new one year permit to stay every time you enter the country up to the date it expires. After your visa expires you would need to get a re-entry permit that will be valid up to the date that your last one year entry ends. Before that entry ends you would need to apply for an extension of stay or go home to get a new OA visa.

[gemguy]

Just arrange for the retirement visa ...whether you do it all on your own to save money or use a visa agent to help you obtain everything that is involved.

I recommend you use an agent as it is so much less headache...but there is a price to be paid ...but it is well worth the price.

What headache...gather 3 or 4 pieces of paper and that's it. At least in pattaya/Jomtien it's quick and easy...my last buddy who did it last month was in and out in 20 minutes. The only headache would be getting the income certificate, if not using a bank deposit) and traveling to a Bangkok embassy to get it and an agent couldn't even do that for someone anyway. Usually, one can get the income letter during the embassy visitations to ones area, at least in the case of this American op.

OK..do it yourself.

I had my agent do it for me and I never had to leave the country.

Next day I had all the stamps in my passport

They transferred my tourist visa to a 90 day Non "O" visa and then the 1 year retirement extension was also in my passport at the same time while I did not have to show proof of monthly income nor did I have to actually have 800,000 baht in my account ..it was all arranged.

Cheers

Well your talking about something completely different then aren't you! If you don't legitimately qualify for a retirement extension, and have to resort to fraud to obtain it, then of course you'll have to use an "agent" and pay through the arse to get one.

Nothing illegal or fraudulent at all about having a visa agent do all the work.

Have you not seen or read the abundance of Legal companies that advertise visa services.

How do you think they get a visa on the clients behalf?

They work with immigration officers.

I guess, It seems, I know something's you do not know

Why would you assume it is illegal or fraudulent

The visa was arranged by an Immigration officer who does this for many other people....for many years

There is no need to leave the country when obtaining the first 90 day Non "O" visa and the 800,000 baht is waived ...by the immigration officer.

The immigration officers, who I sat right in front of, at the Chaengwattana complex, had me sign 3 documents that allowed me to transfer from a tourist visa to a 90 day Non "O" and then on to the 1 year extension.

I would imagine the Embassies do not like it ...but the immigration officer(s) supersede the Embassies.

And, I do legitimately qualify for a retirement Visa. ...been on an extension for 3 years now.

Just pay the agent and there is another 1 year extension in my passport stamped and signed by a immigration official.

Do you want single entry or multiple entry...sir!

I was fortunate I was introduced to the Immigration official and later on, the visa agent

Cheers

Edited July 15, 2014 by gemguy