Retirement visa 800k in bank... But only Bangkok bank or kasikorn?

[lopburi3]

1. There is no requirement for any seasoning of funds in bank account to obtain conversion to non immigrant O visa entry.

2. But there is a requirement to have 15 days or more remaining on current entry - is this perhaps the issue?

3. A non immigrant O visa is indeed normally available at a Consulate - but perhaps not for your nationality?

4. As you have repeatedly been correctly advised as long as the funds are in Thailand in a deposit savings account (or even a fixed deposit with only interest loss if removed) there should not have any bank name issue (unless there is something going on) and the process does not require any visa agent.

[akentryan]

Thanachart Bank is the surviving entity of Thanachart Finance which folded during the collapse back in the late 90's. Same top management so be warned about exceeding 1 million on deposit (maximum insured amount). I use a fixed deposit at Krung Thep bank with an APR of 4% with monthly interest payments for 5 years. I have also used Siam Commercial, Kasikorn, UOB and Bangkok Bank in the past without a problem. The bank will give you a statement for Immigration that spells out the amount and how long the deposit has been in the bank.Sounds like somebody regards you as milk cow. After the first retirement visa get rid of the agent and do it yourself. Ubonjoe on this forum is a fountain of accurate info concerning visas. Scroll down and find his post first. Good luck.

[ubonjoe]

As said there is no immigration requirement as to which bank you can use as long as it is a registered bank.

I don't think this is entirely for doing a change of visa status to get a non immigrant visa entry and having the money in the bank on the date it is applied for. This is one of those arrangements where the visa and extension are done on the same day where the 800k baht needs to be in the bank for 60 days to make it legit. Apparently the agent or officer does not have any contacts at Thanachart bank to fix the bank book to show the money has been in the bank for 60 days.

[akentryan]

Ubonjoe and I are not holding hands as we make our posts - one of those starnge occurences.

[Kabula]

In my opinion you should not be asking that question in this forum.

Immigration policy changes like the wind. Each office and at times each Immigration Officer deviates from policy.

I recommend you direct the attention to an Immigration Officer in your district and be sure to get the name of the Officer in case the policy changes when you go in to Immigration to submit your application. It would be a bummer to find out you got the wrong information.

I've been told that Immigration prefers to see the money in a savings account. However, it's better to have two and draw from only one so not to fall short for the qualification.

Never ask banking questions to a clerk. It's better to ask the branch Manager.

I also recommend going to the Immigration web site for confirmation, specifically the Q & A and retirment extension content. Check it frequently.

I've lived in Thailand for 9 years. I found that Kasikorn bank is more cooperative with confirmation letters and don't require me to come back the following day to pick up the letter. They also have better exchange rates when accepting wires from America in US$. Their ATM machines are better in my opinion than Bangkok Bank. I've had nothing, but cooperation problems with Siam Bank and more!

I start preparing for my application extension documents 60 days in advance and submit over 45 days in advance with travel tickets outside the country. For those doing the financial combination, pay close attention to exchange rates. It's better to have over 800,000 in the bank with the exchange rates jumping around like they are. However, it's concerning to have that sum of money in the bank for 3 months. I always secure a multi entry visa. Caution; with a retirement visa extension if you leave Thailand and don't apply for an entry visa you lose your retirement visa extension.

[Pib]

Any Thai bank can be used...the money just needs to be in an account where the money can "immediately" be withdrawn. And by immediately I mean just walk into a branch to the counter or go to an ATM to instantly pull money needed for day-to-day living expenses.

If the funds are in a type of account where the funds are "locked" so to speak until a certain maturity where the funds can not be immediately pulled then that kind of account is not acceptable. Even a fixed savings account (which I use for my annual extension) is acceptable since the money is immediately available...it's just I lose all/part of the interest earned to date if withdrawing any of the money before the account's maturity date.

Sure sounds like your visa assistant is saying only those two banks because she only has inside contacts at those bank's to fix (alter) the passbook to show the money is seasoned the required period.

I'm a'thinking you either have a type of account in Thanachart where the funds are not immediately accessible (what kind of account is it...did it come with a ATM/debit card, have you been pulling money, etc) or the visa assistant only has contacts at Bangkok Bank or Kasikorn Bank to "fix" your passbook to show the funds have been seasoned long enough.

[TSF]

I keep my 80K in a fixed term deposit account to get a higher interest rate. For several years it was with UOB, currently it's with Krungsri. When it's visa renewal time I get the statement from my bank (200Bt) and have no had problems.

[jacko45k]

Doing a retirement visa... Due to a mix up I need to do my non O, also... So I need an agent to sweeten the deal so to speak..... Contact at immigration willing to do the required information us today thanachart no good... Bangkok or kasikorn only.?

Appears your agent only has connections at those banks.

It is certainly not a general requirement, simply 800k in any Thai bank (accessible) account seasoned for the required time.

[IMA_FARANG]

I have previously had a "retirement visa/extension."

In my case my account was with Bangkok Bank....but that was simply because i already had an account for my Thai girlfriend so i could send funds for her to live.

Therefore it was just easiest to open another account in Bangkok Bank in my name since i already had an account for my Thai girlfriend.

The only limitation i know is that a Direct Deposit account from the U.S. Social Security (monthly Pension) MUST be made only to Bangkok Bank.

This is not a Thai rule, but one made by the U.S. Social Security for Direct Deposit accounts because they have a special agreement with Bangkok Bank ONLY.

Just a question....are you intending to try to work in Thailand with a Non O visa....?

If so you should understand that a "retirement visa/extension" will normally not allow you to work in Thailand as you are presumed to be 'retired" and therefore can not work in Thailand.

Most likely you will not be able to get a 'retirement visa/extension" and a work permit at the same time.

Let me expand on that limitation.

if you have a Direct deposit pension sent monthly to Bangkok Bank.....the U.S. Social Security will NOT allow you to have an ATM or debit card on that account.

You can however open another Bangkok Bank account with an ATM or debit card....and transfer money from your pension account to that 2nd account for your living expenses.

As i said this is a U.S social security requirement.....supposedly for your security if you should lose an ATM card.

[12DrinkMore]

As said there is no immigration requirement as to which bank you can use as long as it is a registered bank.

I don't think this is entirely for doing a change of visa status to get a non immigrant visa entry and having the money in the bank on the date it is applied for. This is one of those arrangements where the visa and extension are done on the same day where the 800k baht needs to be in the bank for 60 days to make it legit. Apparently the agent or officer does not have any contacts at Thanachart bank to fix the bank book to show the money has been in the bank for 60 days.

I would be surprised if the bank can retrospectively predate an entry in a passbook. This is all automated.

I would guess that the agent has funds at those two banks and can transfer into and out of an account in one visit and more cheaply without having to involve another bank.

The "bung" probably takes place at immigration, where the time the money has been in the account can be overlooked for a smallish consideration.

[ubonjoe]

As said there is no immigration requirement as to which bank you can use as long as it is a registered bank.

I don't think this is entirely for doing a change of visa status to get a non immigrant visa entry and having the money in the bank on the date it is applied for. This is one of those arrangements where the visa and extension are done on the same day where the 800k baht needs to be in the bank for 60 days to make it legit. Apparently the agent or officer does not have any contacts at Thanachart bank to fix the bank book to show the money has been in the bank for 60 days.

I would be surprised if the bank can retrospectively predate an entry in a passbook. This is all automated.

I would guess that the agent has funds at those two banks and can transfer into and out of an account in one visit and more cheaply without having to involve another bank.

The "bung" probably takes place at immigration, where the time the money has been in the account can be overlooked for a smallish consideration.

The OP already has the 800k baht in the bank. No need for the agent to move money into the account. The only reason I can see for wanting the money to be in the two banks mentioned is to show the 60 days someway.

A bank letter and a new bank book created for presentation could be done IMO. Easy for a bank employee to make a legit empty bank book and enter new deposit dates the old way with a typewriter and put some stamps on it to make it look legit.

[meatboy]

Thanachart Bank is the surviving entity of Thanachart Finance which folded during the collapse back in the late 90's. Same top management so be warned about exceeding 1 million on deposit (maximum insured amount). I use a fixed deposit at Krung Thep bank with an APR of 4% with monthly interest payments for 5 years. I have also used Siam Commercial, Kasikorn, UOB and Bangkok Bank in the past without a problem. The bank will give you a statement for Immigration that spells out the amount and how long the deposit has been in the bank.Sounds like somebody regards you as milk cow. After the first retirement visa get rid of the agent and do it yourself. Ubonjoe on this forum is a fountain of accurate info concerning visas. Scroll down and find his post first. Good luck.

seems like you have the same agent as the op who's in the know.so be warned about exceeding 1million on deposit ITS BS.

[Richard W]

... Same top management so be warned about exceeding 1 million on deposit (maximum insured amount). I use a fixed deposit at Krung Thep bank with an APR of 4% with monthly interest payments for 5 years. ... After the first retirement visa get rid of the agent and do it yourself. Ubonjoe on this forum is a fountain of accurate info concerning visas.

seems like you have the same agent as the op who's in the know.so be warned about exceeding 1million on deposit ITS BS.

It seems more like fairly sound general advice on the use of agents. As to the money, what is the deposit guarantee limit then? 0฿? Are Thai banks sounder than Western banks?

[bazza40]

Get a visa assistance service that can smooth your path, not create obstacles.

[Pib]

Cabinet approves delaying deposit insurance cut to phase in financial plans

THE NATION April 27, 2016 1:00 am

THE CABINET has approved amending the Deposit Protection Agency Act to delay until 2021 the reduction of deposit insurance to a maximum of Bt1 million, instead of this August as previously scheduled.

Finance Minister Apisak Tantivorawong said the reduction now would be made gradually, as it was feared that the one-time cut from a maximum of Bt25 million per deposit account to only Bt1 million would have caused depositors to panic.

Earlier, the reduction of deposit insurance to a maximum of Bt1 million per account per financial institution was to take place on August 11, 2016.

After the amendment, the protection maximum will be reduced to Bt15 million by 2018, Bt10 million by 2019, Bt5 million by 2020 and finally Bt1 million by 2021.

Deputy Government Spokesman Sansern Kaewkamnerd said the act shortened the return of deposit to deposit owners to no more than seven days from earlier 2-3 months.

Bank of Thailand Governor Veerathai Santiprabhob said the amendment had nothing to do with financial institutions' stability. Thai commercial banks have robust capital bases with high excess liquidity, and were well prepared for the reduction of deposit insurance as scheduled previously, he said.

The central bank has been monitoring the movement of deposits in and out of the country's financial institutions closely and has not found any irregularities, he said.

Veerathai said the gradual reduction under the amendment would allow depositors to take more time to adjust their financial plans.

The extension could be good for lending rates in the system as financial institutions would not be concerned about competition when they were offering products with special rates to lure big depositors, Veerathai said.

Financial institutions could better management their costs of deposit interest, which could mean lending rates stay at a low level.

[Si Thea01]

My funds are with the Krung Thai bank and have been for the past 14 ,years. Two accounts, the original in BKK, the second opened 3 years ago in Loei. Have an ATM card for both, istant access and never a problem. As for you other problems, I'm sorry but can't help you there.

[Gary A]

The facts are that what works for one person will NOT work for everyone. One bank is fine for some and doesn't work for someone else. The sad fact is that it is up to the immigration officer what is acceptable and what is not acceptable. It would make life easier if the same rules applied to all immigration offices but that is NOT the case. I KNOW for a fact !

[johnatong]

The facts are that what works for one person will NOT work for everyone. One bank is fine for some and doesn't work for someone else. The sad fact is that it is up to the immigration officer what is acceptable and what is not acceptable. It would make life easier if the same rules applied to all immigration offices but that is NOT the case. I KNOW for a fact !

Have you had a particular bank refused by an IO ?

If so which bank and which immigration office.

[Baboy]

I have used 800,000 baht term deposit at Bank of Ayudha for my last 3 retirement visa's. Prior to that I used a US $ account at the same bank which had sufficient funds in it, never a problem. that was all done at Jomtien Immigration .

[KittenKong]

As said there is no immigration requirement as to which bank you can use as long as it is a registered bank.

I don't think this is entirely for doing a change of visa status to get a non immigrant visa entry and having the money in the bank on the date it is applied for. This is one of those arrangements where the visa and extension are done on the same day where the 800k baht needs to be in the bank for 60 days to make it legit. Apparently the agent or officer does not have any contacts at Thanachart bank to fix the bank book to show the money has been in the bank for 60 days.

I would be surprised if the bank can retrospectively predate an entry in a passbook. This is all automated.

I would guess that the agent has funds at those two banks and can transfer into and out of an account in one visit and more cheaply without having to involve another bank.

The "bung" probably takes place at immigration, where the time the money has been in the account can be overlooked for a smallish consideration.

You would be surprised to what extent paperwork can be modified in Thailand assuming a suitable sweetener is paid. Banks are in no way exempt from this.

[TSF]

The facts are that what works for one person will NOT work for everyone. One bank is fine for some and doesn't work for someone else. The sad fact is that it is up to the immigration officer what is acceptable and what is not acceptable. It would make life easier if the same rules applied to all immigration offices but that is NOT the case. I KNOW for a fact !

It's not the particular Thai bank that causes any problem, it's the type of account, some accounts lock your money up for a fixed term and you can't access that money until the time is up. These types of accounts offer higher interest rates, but Immigration won't accept these accounts because the foreigner must be able to access his or her funds immediately.

[Si Thea01]

The facts are that what works for one person will NOT work for everyone. One bank is fine for some and doesn't work for someone else. The sad fact is that it is up to the immigration officer what is acceptable and what is not acceptable. It would make life easier if the same rules applied to all immigration offices but that is NOT the case. I KNOW for a fact !

Even though I have dealt with only one bank, it has always been acceptable at a number of immigration offices over the past 14 years. Wattana, Chiang Mai, Nakhom Pathom, Sakon Nakhon, Chiang Khan and Udon Thani, so it would seem that this bank is quite acceptable to immigration in a number of provinces.

Actually, when i first applied for the retirement visa, everything was handled by a well known Bangkok legal firm, whilst I was in Australia. They sent all necessary paperwork via email, and once completed I forwarded it to the Thai Embasssy in Brisbane, Australia, then when it was returmed. I forwarded the documents back to Thailand, by post.

All this cost B20,000 and when I returned to Thailand on a tourist visa I was taken to the Bank at Wattana, opened the account, was then taken to immigration at Wattana, where additional paperwork was completed and I was issued with my initial retirement visa.

Since then, my extensions of stay, based on retirement, have been processed at a number of different offices, the last 3 at Udon Thani, and at no time has my bank details ever been questioned. All they were interested in is the amount in the account and that it had been seasoned correctly and Ihad the bank letter. So why are the same rules applied in all the different offices that I've attended, yet, according to youself, you have experienced problems, which you indicate as being factual.

I am at odds to see that you indicate that what works for one does not work for another and that it is the immigration officers discretion to accept what account is used. I have never found this to be the case, it is normally the banks that one has trouble with, not immigration. If there is rule that immigration use to rule out certain banks, then I would like to see it. As far as I am aware, if one has the right amount, seasoned correctly, all the relevant paperwork, then it doesn't matter which bank is used.

[lopburi3]

All this cost B20,000 and when I returned to Thailand on a tourist visa I was taken to the Bank at Wattana, opened the account, was then taken to immigration at Wattana, where additional paperwork was completed and I was issued with my initial retirement visa.

Really hard to understand what you paid for if you arrived on a tourist visa - or why anything was sent to Brisbane. You do not need any special paperwork to obtain a tourist visa. And to convert a tourist visa entry to non immigrant O entry costs 2,000 baht at Chiang Watanna with proof of financials in place at a bank account here - and you they can use the 90 day stay it allows to season the money for two months before application for one year extension of stay at 1,900 baht.

[MROLL320]

I had appointment with agent this morning, but when I found immigration opened at 8.30 I went down to enquire myself... Can I use thanachart? YES

Can I do none I here today.... YES!

obviously the shop is misinformed? Or its a con job?

Name and shame?

[Gary A]

The facts are that what works for one person will NOT work for everyone. One bank is fine for some and doesn't work for someone else. The sad fact is that it is up to the immigration officer what is acceptable and what is not acceptable. It would make life easier if the same rules applied to all immigration offices but that is NOT the case. I KNOW for a fact !

Have you had a particular bank refused by an IO ?

If so which bank and which immigration office.

My bank was the Thai Farmers Bank in Nong Hin, Loei. The money was in a certificate that could be withdrawn anytime. It was fine with the Chiang Khan immigration until they got a new female boss. She decided that it wasn't acceptable. Not only that but after I agreed to take the money out (the next day) and put it in a Siam Commercial savings account, that wasn't acceptable either. It had to be in the savings account for 3 months. That caused me to have to go to Bangkok and get an income statement. I was two days overstay when I got back to Chiang Khan and paid a 1,000 baht fine. Like it or not, an unreasonable sour immigration official has you by the short curlies.

[MROLL320]

Yesterday I had everything, except.. Contract for condo rental and a copy of the landlords house book? Which I didn't know I needed..... But the nice lady said I was a special case and if I paid a bit extra I could have my none O and retirement visa with multi entry permit on the 2nd of June. For an extra fee.........

[Rayk]

I'm either been lied too? Milked? Or its new legislation?

I think it's time to find a new agent or do it yourself.

[johnatong]

Yesterday I had everything, except.. Contract for condo rental and a copy of the landlords house book? Which I didn't know I needed..... But the nice lady said I was a special case and if I paid a bit extra I could have my none O and retirement visa with multi entry permit on the 2nd of June. For an extra fee.........

Conversion to an "O" visa entry costs... 2000 Bht

An extension of stay costs ...1900 bhat

The only "extra" would be the cost of a re - entry permit if one was required .... 1000 Bht single or 3800 Multiple.

There are NO other legal charges of "fees".

[MROLL320]

I'm either been lied too? Milked? Or its new legislation?

I think it's time to find a new agent or do it yourself.

this isn't from an agent, this is the immigration office. Sacked agent after barefaced lies about not doing non O here and not being able to use thanachart bank...

[MROLL320]

Yesterday I had everything, except.. Contract for condo rental and a copy of the landlords house book? Which I didn't know I needed..... But the nice lady said I was a special case and if I paid a bit extra I could have my none O and retirement visa with multi entry permit on the 2nd of June. For an extra fee.........

Conversion to an "O" visa entry costs... 2000 Bht

An extension of stay costs ...1900 bhat

The only "extra" would be the cost of a re - entry permit if one was required .... 1000 Bht single or 3800 Multiple.

There are NO other legal charges of "fees".

Agreed on all... Like I said... She said I needed a copy of the contract for my condo and a copy of the housebook for my landlord? Never asked for contract before? Invoice was sufficient. And nothing in required documents about landlords house book? I think just looking for reasons for me to go for 'special service'.

Note this is immigration not an agent...