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BANGKOK 23 March 2019 09:09
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CONFIRMED: Here is exactly what’s needed for retirement & marriage extensions (income method) from 2019

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On the income part, pre-2019 you only had to show income, period. Now that income, at least 65,000 THB/month (which does not really make sense because it can vary) or less if offset by Thai bank balances, has to be certified by the Thai bank that it was deposited here in Thailand. This is a big difference. Perhaps you don't want to deposit all of it. Well, too bad. 

 

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 Sam6345:  Thank you very much for sending the instructions about how to send a wire transfer from Fidelity without the Medallion Signature Guarantee.  I have already wired the money using the USAA Bank this month for a charge of $45.00.  I'll try to transfer from Fidelity next month.

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19 minutes ago, kraftyhl said:

On the income part, pre-2019 you only had to show income, period. Now that income, at least 65,000 THB/month (which does not really make sense because it can vary) or less if offset by Thai bank balances, has to be certified by the Thai bank that it was deposited here in Thailand. This is a big difference. Perhaps you don't want to deposit all of it. Well, too bad. 

 

Specifically the money must be transferred monthly from overseas into your Thai bank account in Thailand.

 

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28 minutes ago, DogNo1 said:

 Sam6345:  Thank you very much for sending the instructions about how to send a wire transfer from Fidelity without the Medallion Signature Guarantee.  I have already wired the money using the USAA Bank this month for a charge of $45.00.  I'll try to transfer from Fidelity next month.

Am I missing something. $45x12= $540 per annum. Plus poor exchange rate. 

You happy with that?

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3 hours ago, Thaidream said:

Impossible.  Not everyone can get their pension direct deposited because the pension provider refuses to do it.

Name one!

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5 hours ago, mogandave said:

 


Yes, but the statements are already available.

 

Only if you have online banking facilities, otherwise the bank has to print them and it's chargeable.

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2 minutes ago, mogandave said:

Why would anyone not have online banking?

A lot of expats don't own and/or can't use a PC, let alone have a printer.

 

4 minutes ago, mogandave said:

As long as you keep it up to date, passbook is a statement.

The new order specifically states bank statements, not passbook as previously.

A passbook is not a statement.

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38 minutes ago, Tanoshi said:

Name one!

Into a Thai bank?  One would be retired U.S. military pay..  For some reason Thailand is not on the list for international direct deposit..

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This topic has gotten shorter again after removing several off topic, bickering, baiting and etc posts.

A lot of them were related interest rates and such that is off topic. If you want to discuss interest rates please do it on the business and banking forum.

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16 hours ago, Tanoshi said:

Clearly you haven't read, or understood the new order, otherwise questions 4,5,6 and 7 are already answered.

 

You missed the more senior expats who don't have internet banking, or own, or can use a PC.

Payments can always be made direct into your Thai account by your Pension providers, (well at least from the UK) at no extra cost, you just have to contact them and give them the details.  

Sorry i maybe missed it but question 4. Has it been made clear clear what documents the bank needs to give to immigration? Is it the bank book with a foreign transfer code. Is it a special letter saying 65k was transferred each month from outside Thailand? What form does this letter take. Have the banks agreed to this?

Edited by Henryford
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1 hour ago, Henryford said:

Sorry i maybe missed it but question 4. Has it been made clear clear what documents the bank needs to give to immigration? Is it the bank book with a foreign transfer code. Is it a special letter saying 65k was transferred each month from outside Thailand? What form does this letter take. Have the banks agreed to this?

Not really, it will greatly depend on your IO exactly what they will except.

For example, for 2.18 (marriage) it states an average of 40K per month, (480K per annum) which I interpret as could be 30K x 8 and 60K x 4, totalling 480K. Some expats receive quarterly pension payments.

For 2.22 (Retirement), the word 'average' isn't mentioned, it's 65K per month.

It also states a letter and passbook for acceptable documents, but then in 'procedures', it clearly states 'bank statements'.

 

Immigration have been discussing with the banks the form and details should be included in their Income letters.

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The new order specifically states bank statements, not passbook as previously.
A passbook is not a statement.


The translation of the new order says statement, not the new order. I have no idea what is actually required.

In any event, as you have to get a letter from the bank anyway, you should be able to get whatever statements are needed at the same time.

I would bet the bank letter and updated passbook is all that will be required, but I’m not going to get caught up worrying about it either way.

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1 hour ago, Tanoshi said:

Not really, it will greatly depend on your IO exactly what they will except.

For example, for 2.18 (marriage) it states an average of 40K per month, (480K per annum) which I interpret as could be 30K x 8 and 60K x 4, totalling 480K. Some expats receive quarterly pension payments.

For 2.22 (Retirement), the word 'average' isn't mentioned, it's 65K per month.

It also states a letter and passbook for acceptable documents, but then in 'procedures', it clearly states 'bank statements'.

 

Immigration have been discussing with the banks the form and details should be included in their Income letters.

I would think average "per month" would mean you are dealing with the number 12 as there are 12 months in a year.  You would not use 8 or 4, like in 8 or 4 payments over a year to calculate the average per month over a year.   

 

Appears they are still looking for a "fairly steady, monthly" income versus sporadic income (big swings and time gaps) so a game can't be played of (and just for an example), "Well, I did one transfer of Bt480K over the last 12 months which if divided by 12 equals Bt40K per month."  But for 11 of those 12 months the person could have been penniless and maybe he just got the Bt480K from a loan shark which was quickly repaid with interest putting the person back into penniless status.

 

But if you did have monthly income "each month" varying somewhat below and above 40K and then that would be a valid "average per month."     12 months of income  added up and then divided by 12.

 

 

 

 

Edited by Pib
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1 hour ago, Tanoshi said:

Not really, it will greatly depend on your IO exactly what they will except.

For example, for 2.18 (marriage) it states an average of 40K per month, (480K per annum) which I interpret as could be 30K x 8 and 60K x 4, totalling 480K. Some expats receive quarterly pension payments.

For 2.22 (Retirement), the word 'average' isn't mentioned, it's 65K per month.

It also states a letter and passbook for acceptable documents, but then in 'procedures', it clearly states 'bank statements'.

 

Immigration have been discussing with the banks the form and details should be included in their Income letters.

"Immigration have been discussing with the banks the form and details should be included in their Income letters."

 

I hope you're right re. this!

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2 hours ago, Tanoshi said:

Not really, it will greatly depend on your IO exactly what they will except.

For example, for 2.18 (marriage) it states an average of 40K per month, (480K per annum) which I interpret as could be 30K x 8 and 60K x 4, totalling 480K. Some expats receive quarterly pension payments.

For 2.22 (Retirement), the word 'average' isn't mentioned, it's 65K per month.

It also states a letter and passbook for acceptable documents, but then in 'procedures', it clearly states 'bank statements'.

 

Immigration have been discussing with the banks the form and details should be included in their Income letters.

Whether you are paid bimonthly, quarterly or half yearly, you are required to transfer them monthly from overseas.  That is you split these bulk payments into parts and you transfer 1 part or parts(?) from overseas monthly. 

 

Presently when you get a bank letter for money seasoning, the bank gives you a letter accompanied by statements, ie. you get a letter plus statements when you pay for this service. 

 

Edited by farangx
add more words for clarity, side effects include confusion.

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