Letters or not ?

[Aforek]

Hello,

just two questions

when we decide the solution of having 800000 bahts on the thai account for the O-A visa extension, do we need the letter from the Thai bank ( I don't think ), and from the embassy ?

and second question,if we need 800000 bahts for three months ( I am in Hua hin ) , it means that we must have, let's say 1 million bahts three monts before because 800000 bahts three monts before, the day of the extension, we have 600000 bahts

Correct or I didn't understand ?

thanks

[ubonjoe]

For an extension based upon retirement it is 800k baht in the bank for 60 days for the first extension or 3 months for subsequent extensions on the date of application or 65k baht income or a combination of the 2 totaling 800k baht.

If doing the money in the bank option you only need a letter from the bank and your bank book to prove the balance has been in the bank for required amount of time.

If doing the 65k baht income method you only need a letter from your embassy confirming your income.

If you are doing the combination method you need both letters and the bank book.

[Cloggie]

Letter from the bank must be the same day when you go to Immigration AND bankbook must be the same amount as the letter from the bank, don't even withdraw 50 satang!!!

I once made the mistake to withdraw money immediately after I had my letter .... wrong, not the same sir :-(

[Liquorice]

You must have 800,000 in the bank for the whole period.

2 months for first extension

3 months for subsequent extensions.

You are not extending the Visa.

You are extending your permission to stay based on retirement.

The extension of stay does not allow exit/entry to Thailand

You must get a re-entry permit separate to the extension which will allow entry/exit on the extension.

Single or multi entry permits are available.

[wayned]

In the OP you use the pronoun "we". To clarify, the money must be in a Thai bank in your name only, not a joint account like it used to be many moons ago.

[Aforek]

If doing the money in the bank option you only need a letter from the bank and your bank book to prove the balance has been in the bank for required amount of time.

it's the answer to my question, when I have 800000 bahts on the thai bank, I still need a letter from the bank ( I know the story of exactly the same amount and take money the same day when I go to immigration ) , not from my embassy : thanks ( for five years I am doing the combo solution but may be in the future I"ll do the bank option 800000 bahts )

for the second question, I am in Hua hin and they want 800000 bahts 3 months before the extension of the permission to stay based on retirement.(ok, you are right ) , but during 3 months I must spend money, it means I must have more than 800000 bahts 3 months before, right , even I use the combo solution ?

it's when people have more than 65000 bahts a month that they don't need a letter from the bank ; just from the embassy ?

[ubonjoe]

You have to have 800k baht in the bank on the date you apply for the extension. Many people have 2 bank accounts one they keep the 800k baht in and another one for day to day use.

According to the written rules for the combination option you only need the money in the bank on the date you apply for the extension but some offices want it to be there for 3 months

If you have 65k baht of proven income you do not need to show any money in the bank..So there would be no need for the bank letter.

[Liquorice]

If doing the money in the bank option you only need a letter from the bank and your bank book to prove the balance has been in the bank for required amount of time.

it's the answer to my question, when I have 800000 bahts on the thai bank, I still need a letter from the bank ( I know the story of exactly the same amount and take money the same day when I go to immigration ) , not from my embassy : thanks ( for five years I am doing the combo solution but may be in the future I"ll do the bank option 800000 bahts )

for the second question, I am in Hua hin and they want 800000 bahts 3 months before the extension of the permission to stay based on retirement.(ok, you are right ) , but during 3 months I must spend money, it means I must have more than 800000 bahts 3 months before, right , even I use the combo solution ?

it's when people have more than 65000 bahts a month that they don't need a letter from the bank ; just from the embassy ?

If you use the money in the bank method, you will need a letter from the bank and your passbook. The amounts must match.

The full 800,000 must be in the account for 3 months prior to the application.

No, if you use the combo method, you could have say 600,000 in the bank for the previous 3 months and a letter from your Embassy showing a monthly income of around 20,000. (240,000 per annum) The two would add up to over 800,000.

Yes, if you had an income of 65,000 bht a month you wouldn't need any proof from the bank, just a letter from your Embassy.

As Joe said, many people have 2 different accounts.

I have a 'Savings' account to which I transfer funds from abroad. This is my spending account and fluctuates. I do not use it for Immigration purposes.

I then have a 'Fixed Deposit' account which gets much better interest rates and I keep the 800,000 which increases each year after the interest is added.

I let the interest 'roll over' so the amount increases each year.

With this account the bank deducts 15% tax from the interest paid.

You can reclaim the tax deducted every year from your local tax office.

Edited October 28, 2015 by Faz

[jacksam]

Letter from the bank must be the same day when you go to Immigration AND bankbook must be the same amount as the letter from the bank, don't even withdraw 50 satang!!!

I once made the mistake to withdraw money immediately after I had my letter .... wrong, not the same sir :-(

The letter from the bank does not have to be on same day as application. Also when I did my extension in bkk the io wanted to see an update on that day. Made the gf run down stairs to deposit 100 baht. This is not needed everywhere but is in bkk. Also the bankbook is then different to bank letter. Many people get an amount over the 800k Edited October 28, 2015 by jacksam

[Jingthing]

Even one baht below the 800K during the entire money seasoning period and the application is ruined.

I think there have been cases reported over the years where people ACCIDENTALLY went under and fixed it the same day, and were OK, but that was STILL a worrying issue, for sure.

[Cloggie]

Letter from the bank must be the same day when you go to Immigration AND bankbook must be the same amount as the letter from the bank, don't even withdraw 50 satang!!!

I once made the mistake to withdraw money immediately after I had my letter .... wrong, not the same sir :-(

The letter from the bank does not have to be on same day as application. Also when I did my extension in bkk the io wanted to see an update on that day. Made the gf run down stairs to deposit 100 baht. This is not needed everywhere but is in bkk. Also the bankbook is then different to bank letter. Many people get an amount over the 800k

It all depends on the Immigration Office and Immigration Officer who will handle your paperwork, better go safe - maybe your officer that day is a nitpicker .........

[Jingthing]

Freshness of letter depends on the office.

Jomtien has NEVER required same day.

Previous day or Friday before Monday always OK.

It's been reported as old as a week would be OK but I wouldn't suggest that.

[Cloggie]

I did mine last time in Hua Hin / Prachuapkirikhan and she 'demanded' same day - no need to argue.

[Liquorice]

Freshness of letter depends on the office.

Jomtien has NEVER required same day.

Previous day or Friday before Monday always OK.

It's been reported as old as a week would be OK but I wouldn't suggest that.

Same at Amnat Charoen.

Amnat covers 3 provinces and it's 5 hours travelling for some.

If they insisted on same day they'd be empty in a morning and full in the afternoon.

[Pattaya46]

If you have 65k baht of proven income you do not need to show any money in the bank...

Right, that's what the rules say, but even if "you don't need", in some places you have to! TiT

In Jomtien in June for my extension, they ask for a copy of last page of my bankbook. First time it happen to me.

They didn't ask for a bank letter and not even for a minimum amount. They just wanted proof that I had a bank account here.

[Jingthing]

If you have 65k baht of proven income you do not need to show any money in the bank...

Right, that's what the rules say, but even if "you don't need", in some places you have to! TiT

In Jomtien in June for my extension, they ask for a copy of last page of my bankbook. First time it happen to me.

They didn't ask for a bank letter and not even for a minimum amount. They just wanted proof that I had a bank account here.

That is true. There are often enforcement variations that change over time and office dependent as well. They have the right to ask for additional documentation for any reason, rational or not.

Edited October 28, 2015 by Jingthing

[Aforek]

As Joe said, many people have 2 different accounts.

I have a 'Savings' account to which I transfer funds from abroad. This is my spending account and fluctuates. I do not use it for Immigration purposes.

I then have a 'Fixed Deposit' account which gets much better interest rates and I keep the 800,000 which increases each year after the interest is added.

I let the interest 'roll over' so the amount increases each year.

With this account the bank deducts 15% tax from the interest paid.

You can reclaim the tax deducted every year from your local tax office.

Very good solution, but I have read on this forum that some immigration offices don't accept, they say " you never spend money in Thailand ?", they want to see an account with money movements, but in your case, you never need to show your saving account ?

SCB ( my bank ) has only small interest ( 1.65 % ) and not for a long time, maybe I should ask if they have long term fixed accounts ( BTW, what is your bank ? )

[jacksam]

I thought fixed term account was not acceptable as funds not have direct access.

I'm wrong yet again

[Liquorice]

I thought fixed term account was not acceptable as funds not have direct access.

I'm wrong yet again

Fixed term Deposit accounts are immediately accessible.

They give you a fixed interest rate over a fixed term of deposit.

You lose interest if you make a withdrawal during the fixed period of investment.

[Liquorice]

As Joe said, many people have 2 different accounts.

I have a 'Savings' account to which I transfer funds from abroad. This is my spending account and fluctuates. I do not use it for Immigration purposes.

I then have a 'Fixed Deposit' account which gets much better interest rates and I keep the 800,000 which increases each year after the interest is added.

I let the interest 'roll over' so the amount increases each year.

With this account the bank deducts 15% tax from the interest paid.

You can reclaim the tax deducted every year from your local tax office.

Very good solution, but I have read on this forum that some immigration offices don't accept, they say " you never spend money in Thailand ?", they want to see an account with money movements, but in your case, you never need to show your saving account ?

SCB ( my bank ) has only small interest ( 1.65 % ) and not for a long time, maybe I should ask if they have long term fixed accounts ( BTW, what is your bank ? )

The only requirement is to show 800,000 in a Thai Deposit account.

Although my Immigration office never request anything more than a letter from the bank and my passbook for that account showing the 800,000 + funds, I always take my Savings Deposit account passbook just in case they ask.

I'm with Bangkok Bank, currently getting 2.8% interest, but rates have dropped dramatically the last 12 months.

The rates are now around 1.65%, same as SCB.

[jacksam]

Maybe your bank is different. Many banks impose a penalty for early withdrawals in addition to loss if interest. If that was the case and you had exactly 800k in a FD, then in reality you have less than that in accessible funds. Splitting hairs ....Yes guilty

[Liquorice]

Maybe your bank is different. Many banks impose a penalty for early withdrawals in addition to loss if interest. If that was the case and you had exactly 800k in a FD, then in reality you have less than that in accessible funds. Splitting hairs ....Yes guilty

That would be true Jack if I only had one account as a source of income.

I'd have to balance the books to meet the financial requirements of Immigration.

There are lots of options available, it's really down to personal circumstances and financial management.

If I was married and receiving a state pension, I might consider other options.

[jacksam]

Personally this is good advice for me. I just park the 800k in a thai bank (BTW I get zero interest) . I will look at FD and also another account. Seems good idea

[Liquorice]

Personally this is good advice for me. I just park the 800k in a thai bank (BTW I get zero interest) . I will look at FD and also another account. Seems good idea

Bare in mind Jack 15% tax will automatically be deducted from any interest amount.

Interest is regarded as an income from within Thailand.

The Thai tax year is April to April.

Because the tax you pay is less than the personal allowance you can reclaim that tax.

Between Jan - Apr ask your bank for a statement of interest paid for the previous year.

Take that form to your tax office and they'll arrange a refund of tax paid.

Cheques come from BKK so it takes a few weeks.

Better in your pocket than the tax office.

[Sophon]

Maybe your bank is different. Many banks impose a penalty for early withdrawals in addition to loss if interest. If that was the case and you had exactly 800k in a FD, then in reality you have less than that in accessible funds. Splitting hairs ....Yes guilty

I have never seen any Thai bank that charges a penalty (other than loss of interest) for early withdrawal of funds on a fixed deposit account. Do you have any link to the terms and conditions of a bank that does that?

Sophon

[Aforek]

Final thought ( may be ) : SCB wants the letter to the immigration done with an update the day of the extension , to have the same date and amount on letter and bank book ; suppose I have a fixed account more than 800000, I can take or put , say 1000 bahts and they write the letter ... ( in fact I am going to ask , but I would like to know your opinion about this )

[logres212]

Regarding the 800,000 for 3 months, is that 3 full calander months or 90 days, Like is possible to from the middle of month to middle of another month

[ubonjoe]

7 minutes ago, logres212 said:

Regarding the 800,000 for 3 months, is that 3 full calander months or 90 days, Like is possible to from the middle of month to middle of another month

It is 3 months on the date you apply. If you had put the money in the bank on July 8th you could apply today for example.

[logres212]

Thanks