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BANGKOK 19 March 2019 01:14
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CONFIRMED: Here is exactly what’s needed for retirement & marriage extensions (income method) from 2019

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2 hours ago, jacko45k said:

It just landed in my Bangkok Bank savings account, no mention whatsoever of it coming from 'overseas'. It actually stated Interbank Transfer via SMART. On internet banking no further details.

That would be the local retail funds transfer system.

 

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1 hour ago, punworthy said:

Since I can no longer get an income letter from the US Embassy, then what kind of bank statement is required at the bank to comply with the monthly income method? I transfered >65,000 baht this month thru the Bangkok Bank ACH system from my US account and it says "FTT" on my bankbook and online it says "Foreign Transfer."  I will do this every month until my next application in December. I have read I have to get a 12-month annual statement and produce a letter from the bank confirming this.

 

But Bangkok Bank has said they can only produce a 6-month history, not 12 months. It says this online, too.

 

I went to the Silom head office and got this information from several staff. What kind of statement is this called? Dreading a trip to LakSi just to ask this, just not getting an understanding at some branches. There's a Bangkok Bank down the stairs at immigration. Surely they would know. Any info helpful. 

You only need to provide your bank passbook showing receipt of your transfers, and a letter from the bank confirming the number of foreign transfers and amount.

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1 hour ago, punworthy said:

Since I can no longer get an income letter from the US Embassy, then what kind of bank statement is required at the bank to comply with the monthly income method? I transfered >65,000 baht this month thru the Bangkok Bank ACH system from my US account and it says "FTT" on my bankbook and online it says "Foreign Transfer."  I will do this every month until my next application in December. I have read I have to get a 12-month annual statement and produce a letter from the bank confirming this.

 

But Bangkok Bank has said they can only produce a 6-month history, not 12 months. It says this online, too.

 

I went to the Silom head office and got this information from several staff. What kind of statement is this called? Dreading a trip to LakSi just to ask this, just not getting an understanding at some branches. There's a Bangkok Bank down the stairs at immigration. Surely they would know. Any info helpful. 

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

 

Read this fro Bangkok Bank:

 

EXPAND ALL

 

PRINT 

Advice to senders using US bank internet banking services

If you have a U.S. bank account, you can conveniently transfer funds to a recipient's bank account at Bangkok Bank in Thailand via the internet by completing the steps described below for an international ACH transaction (IAT). International ACH payments are processed in accordance with operating rules and formats developed by the Electronic Payments Association (NACHA).


The IAT is a special code (a Standard Entry Class or “SEC” Code) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to perform screening to ensure compliance with Office of Foreign Assets Control (OFAC, U.S. Department of the Treasury) requirements.  The NACHA  rules require Bangkok Bank’s New York Branch which serves as intermediary, to ensure that payments that are transmitted to account of beneficiary in other country are appropriately classified as IATs and contain information as described below.

 

Bangkok Bank, New York Branch, is required to receive the ACH transactions in the required IAT format.  This means that we must require that senders who wish to transmit funds to recipients at Bangkok Bank in Thailand to provide certain identifying information.

 

Instructions

To initiate a such an international transaction , using internet banking when you log on to your bank in U.S. website, please select the International ACH and provide the following information to your bank:

Your name and physical address in Thailand

Your bank account number and the name and address of your Bangkok Bank Branch in Thailand

The 9-digit routing number 026008691 of Bangkok Bank New York Branch, which acts as intermediary in the transaction. 

 

Important Note: 

As some bank in U.S. may not provide the International ACH thorough their internet banking, please contact your bank on how to process your transfer.

Once Bangkok Bank’s New York branch receives the payment with the appropriate IAT format, they will process your payment to Bangkok Bank in Thailand for further credit to a recipient's bank account at Bangkok Bank in Thailand.

With effective from April 1, 2019, New York branch only process ACH with appropriate IAT format and all non-IAT transactions will be returned.       

Bangkok Bank in Thailand will be able to credit the recipient’s account in Thailand only when the name and account number of the recipient in your transfer instruction from the banks in the U.S. matches the recipient’s name and account number at Bangkok Bank.
 

If you wish to inquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or e-mail helpdesk.nyb@bbl.co.th

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7 minutes ago, Mango Bob said:

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

All Banks Worldwide will still do a SWIFT Transfer which will show up on your Thai Bank account as an international transfer. However, it costs more- 

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On 1/12/2019 at 12:09 PM, farangx said:

There is no denying that this retirement extension is simple and cheap. While one can choose the 800K method, for those who are unwilling or unable to put this money into your savings account here for 3 months, the income method is a simple option.  Tied to monthly costs of living, this money transferred from overseas monthly is all yours for you to keep or spend or not.  Very few countries like Thailand let a foreigner to just retire in the country without a proper visa like a PR.  All these for a few hundred bucks a year, why make it so hard?

 

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

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1 hour ago, gk10002000 said:

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

Especially if one spends time in the USA you can get an O-A visa in USA no Thai bank account required and no monthly transfers.

Edited by JLCrab
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15 hours ago, Mango Bob said:

Sorry to inform you but effect 1 Apri 2019 Bangkok Bank will only accept International ACH.  I asked my bank in the US about it and they inform me they will not be doing international ACH transactions.  You should check with your bank on this.

Checked my bank and you are right. So, am resuming my Direct Deposit SSA payments with Bangkok Bank and will do a monthly/combination method. I knew nothing about the IAT format and this was extremely helpful. Also, using my passbook as "evidence" with a confirmation letter seems to be correct. Thanks for all the help.

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2 hours ago, gk10002000 said:

Yes, why is Thailand making it so hard?  Now seemingly forcing retirees and others to setup monthly transfers which do have costs.  Forcing retirees to open foreign bank accounts. 

TI is only asking for income statements that you have in the past.  Money that you already spent NOT money that you have to spend.  Neither are they asking you to pre-fund your bank account for the next 12 months.  How can this be hard?

 

You only need to have a bank account in Thailand. If you don't have one already then get one.  TI never force you to open a foreign bank account.  You are not suppose to open a bank account every month or every year.  So, why make it so hard on yourself?

 

Edited by farangx

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1 hour ago, JLCrab said:

Especially if one spends time in the USA you can get an O-A visa in USA no Thai bank account required and no monthly transfers.

One O-A visa to save the costs of 24 monthly transfers, which more than pay for the costs of that visa.

 

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13 minutes ago, farangx said:

TI is only asking for income statements that you have in the past.  Money that you already spent NOT money that you have to spend.  Neither are they asking you to pre-fund your bank account for the next 12 months.  How can this be hard?

 

Not entirely accurate. It's NOT money you have already spent, it's a minimum amount of money you have been forced to transfer into a Thai Bank from overseas every month, whether you actually need the money in Thailand or not. 

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All Banks Worldwide will still do a SWIFT Transfer which will show up on your Thai Bank account as an international transfer. However, it costs more- 

Using swifts for me would cost an extra 17k baht a year, might as well use Transferwise and have 17k in the bank for "tips" if required

 

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On 1/14/2019 at 4:17 PM, likerdup1 said:

This is confusing. Deposited here in Thailand? No!! Deposited TO a bank in Thailand FROM outside of Thailand, presumably overseas (as stated in the police order)

Precisely, income for a retirement extension has to be deposited from overseas. Employment within Thailand is strictly prohibited. I guess some foreign people have a problem understanding and/or following the rules. Maybe there are a couple of investors that play the SETV and receive dividends but judging by the response of the moaning minnies that can't, won't or don't want to trust a Thai bank with their money then enjoy wasting it on an agent and hope that dodgy visa you get with the one day 800,000 baht deposit isn't checked by a competent police officer. 

 

I have a Bangkok Bank FCD Account. Costs me nothing to transfer money into from my UK Barclays Bank account. A 0.5% transfer fee charge is payable to the Bangkok Bank (200 baht minimum, 500 baht maximum) and the funds sit in GBP until I transfer it into baht. The bank uses the Buying TT Rate which is very competetive. I've compared this method with a friend that uses Transferwise and it wins everytime (about 40 satang to the £ loss). Another advantage is this account can be used for the seasoning method.

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

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1 minute ago, scubascuba3 said:

Using swifts would cost an extra 17k baht a year, might as well use Transferwise and have 17k in the bank for "tips" if required

Unfortunately Transferwise shows as a domestic transfer. If Thai Imm accepts transferwise- why can't I use my ATM card and pull the 65K from a Thai ATM and put that into a Thai Bank.  Money was generated overseas.

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FIRST IMMIGRATION ISSUE

A the Chiang Mai Immigration visit Jan 16th I found that I cannot stay in Thailand if I do not Have 400,000 baht in a Thai bank.

Law changed December 26th, 2018 – since foreigner cannot get an embassy letter from their home country they must now have 400,000 baht in an account for at least 2 months prior to application for a marriage visa extension.

Prior to this I just needed the embassy letter plus proof that I made over 400,000 annually.

1) Since the USA Embassy no longer provides a verification of income AND

2) I have enough retirement Social Security income that has always been used to offset the need for 400,000 in a Thai bank account BUT

3) I do not have money in an account in Thailand I NOW

4) Cannot stay in Thailand.

This is after I have been using my retirement income statement and Embassy letter for over 10 years

 

What happened?

  • I was refused a marriage visa extension because I do NOT have 400,000 in an account in Thailand AND I do not have embassy letter

  • They said they will give me a two month visit family visa so I can put money into an account NOW so I will have had it for 2 months when marriage vise is renewed.

I have the income required. I do not have 400,000 in the bank.

What have I done in Thailand?

  • ·         I have (in my wife name) land and several business' including a farm.

  • ·         I have invested heavily in helping the Thai locals and compassion work

  • ·         I have given every family in our area that wanted to start a family farm a free breeding gilt

  • ·         I have supported all village children days, elder day and all other events

  • ·         I have provide money to all village projects

  • ·         I have taught village families how to do pig farming with no smell so they are approved in the village

  • ·         I have helped families start their own businesses

  • ·         I have provided income to elders who do not have enough money to live

  • ·         I have invested millions of baht to help Thai families.

  • ·         I have invested millions of baht to help my own family

  • ·         I have helped the Thai government develop new pedigree line of swine

I HAVE HAD ENOUGH OF THE THAI IMMIGRATING WANTING MY MONEY AND HATING ME.

Now I have been pushed over the edge by the crazy actions of an immigration department that cannot understand what they are doing to the very people that bringing wealth and happiness into the homes of Thai people.

I will now leave this country. I am not moving money into an account in Thailand. I have proof of income from the Social Security Government of the USA, I have the required monthly income. NOT ENOUGHT IMMIGRATIONS NOW SAID, I need to move my money to Thailand (400,000 for married visa).

SECOND IMMIGRATION ISSUE YESTERDAY - MY WIFE DID NOT REPORT TO IMMIGRATION THAT I WALKED INTO MYANMAR FOR A SEVERAL HOUR VISIT. THAI GOVERNMENT FINED MY WIFE 1,600 BAHT ($50.17 DOLLARS USD)

IMMIGRATION RULE: The Thai rule is that when I leave the country, or stay in a hotel, MY WIFE needs to report to the Thai government that I am back in my home.

Thailand: where do I stay? The Thai Government wants to know where I live. To keep them up-to-date I provide the following eight verification to the government.

 I TELL THE THAI GOVERNMENT WHERE I LIVE (9 DIFFERENT PLACES) AND MY WIFE GETS A FINE FOR NOT TELLING THEM

  1. 1. I fill out Thai Immigration entry card with address where I stay

  2. Thai Annual Marriage Visa: Every year I have filled out the marriage visa application with the Thai government verification of where I stay. The government visa process verifies my address.

  3. Thai 90 Day Reporting: Every 90 days I fill out a form and submit to government where I stay

  4. Thai Vehicle Driver’s License: Obtained vehicle driver’s license with my address

  5. Thai Scooter Driver’s License: Obtained scooter driver’s license with my address

  6. Thai Tambon ID Card: Tambon Issued Thai Tambon ID Card with my address

  7. Yellow (designates foreigner) Thai House Book: I have my own Thai Issued House Book in my name and address for my home

  8. Thai Land Office: For my wife and my home: I have signed papers with the land office. They will question my wife if she try to sell the land of my address without my consent. 

  9. The local Thai Police Department: The Thai police when learning I was in the village came and interviewed me and my wife and recorded the address where I was living here.

Situation: I went to Mae Sot, Thailand, and got a day permit to visit friend in Myawaddy. I did not stay overnight. On return into Mae Sot I filled out the Thai Immigration Entry Card (1 in list). My wife did not tell the government I was back in my home.

Problem: Today my wife and I went in for our annual marriage visa. The person (my wife) where I live (at my home) was fined 1,600 baht because she did not tell Thai Immigration where I live after I return from Myanmar into Mae Sot, Thailand

Issue: I have filled out 9 documents (verified) about where I live and have given that address on my entry into Thailand and have verified that address every 90 days. On return from Mae Sot I filled a Thai entry card with my address. Why would the Thai Government fine my wife 1,600 baht because she did not tell them where I live (her/our house) when I returned for a short day trip into Myanmar? WHY do I need to report that I live in my home every time I leave the country or stay in a hotel?

 

EVERY ISSUE THE THAI IMMIGRATION APPLIES TO FOREIGNERS IS ONLY DONE TO PUT MONEY INTO THAILAND. IMMIGRATION DOES NOT CARE WHAT WE DO FOR THAILAND OR HOW MUCH WE INVEST INTO THEIR PEOPLE AND CULTURE.

I am pissed at being pissed on, time to leave this country.

Randy

 

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