Monthly deposits vs 800,000 on account

[notrub]

In the Buriram immigration office there is a note posted that proof of income letters from various embassies are no longer acceptable.  I did not read past UK and US but there were a few more. I actually have an income and cash enough to meet their requirements and it is just figuring out how to present it to them in a way that they like to see it.  In Buriram one officer said he wanted to see the money on my account and that he wanted me to spend it, every month.  I have invested 3 or 4,000,000 in property here over the last few years and have a truck and just bought a new car in Thailand.  Not to mention all the junk like a/c units, tv's, fridges, fans and on and on, that has been money spent in Thailand.  I don't understand why this investment in the country counts for nothing when renewing my visa and having such a heavy look at my monthly spend.

 

They have never asked me to show where the monthly deposit comes from.  It is legal income but they have never asked.  Is that just a quirk of my local office and should I be prepared to provide proof of the source of the deposits in the future?

 

I have been refused a visa in the past because the bank letter stated that I had 1,430,862 baht on deposit and my bank book update was 1,430,826, both dated the same day.  I am prepared to jump through all the hoops that they want me to, I just would like them to be the same ones as posted on their official web site without little added 'extras' that the local office deems worthwhile.  (not talking about money, just rules).

 

So the balance sheet Edited Monday at 06:29 AM by elviajero is very useful post but I cannot imagine my local office making any sense of it.  It seems like the easiest way will be to put 1,000,000 in the bank and top it up when spending causes it to drop to 800,050.  Also to put in a lump sum to cover larger spends for a car or something.  Always keeping that account active and with a balance in excess of 800,000.

 

It is difficult here sometimes but don't forget that the government in the UK has announced that migrant workers will not be given work permits if the are to earn less than £30,000 a year.  How many nurses will qualify for that?  How empty of professional workers the hospitals will be.

 

  

[jacko45k]

Get it out of your head that buying a truck house, fridge freezer or a pair of shorts has any impact on immigration. (Unless you bought it  off the officer). Bad they are rejecting Embassy letters, they should be valid 6 months after issue.

 

Income source (monthly 65,000) need only show as from overseas and no other proof of source needed.

You have no control of the whims of dull people who can't be bothered to read and learn the official requirements, 

Try the lump sum, matured 2 months prior, or more, make it 3 if you can. I plan to simply keep my bank balance over 800,000 all year, should work fine.

Not sure what foreign nurses getting paid in UK has to do with it?

 

 

Edited February 9, 2019 by jacko45k

[wgdanson]

20 minutes ago, notrub said:

I have been refused a visa in the past because the bank letter stated that I had 1,430,862 baht on deposit and my bank book update was 1,430,826, both dated the same day.

Did you ask WHY?

[elviajero]

6 minutes ago, notrub said:

They have never asked me to show where the monthly deposit comes from.  It is legal income but they have never asked.  Is that just a quirk of my local office and should I be prepared to provide proof of the source of the deposits in the future?

At this point I believe immigration just want to see the funds being transferred from abroad.

 

If an applicant doesn’t spend any of the 800K during the year, I think offices will start asking for proof of the income/cash you have for living expenses. That’s nothing new, but currently offices rarely ask.

 

11 minutes ago, notrub said:

It seems like the easiest way will be to put 1,000,000 in the bank and top it up when spending causes it to drop to 800,050.  Also to put in a lump sum to cover larger spends for a car or something.  Always keeping that account active and with a balance in excess of 800,000.

If I didn’t have a regular income and was relying on this option I would put 800K plus 5 x monthly living expenses as a minimum. If you spend 50K pm that would be 1,050,000.  That ensures you don’t drop below 800K in the first 5 months; and you shouldn’t need to top up again until you get down to 400K or get to month 10 of the extension.

[Henryford]

2 hours ago, wgdanson said:

Did you ask WHY?

Because the two figures are not the same.

[wgdanson]

35 minutes ago, Henryford said:

Because the two figures are not the same.

Ooops sorry, a visit from Mr Alz for me.

Should have gone to Specsavers.

Edited February 9, 2019 by wgdanson

[ThomasThBKK]

Quote

 I don't understand why this investment in the country counts for nothing when renewing my visa and having such a heavy look at my monthly spend.

 

They have never asked me to show where the monthly deposit comes from.  It is legal income but they have never asked.  Is that just a quirk of my local office and should I be prepared to provide proof of the source of the deposits in the future?

 

 

It's really easy to understand.

They can't control it, they can't check if the Chanote is real, or that it's really your truck or from a friend etc. or at least not in the short amount of time that they have for your visa application.

 

They don't care where your money is coming from monthly as long as they see its from you and not lend from someone else to avoid their rules.

They all know how the bankbooks look, they can easily see if all is ok.

They are nothing more than factory workers basically that follow their 10 point plan and are not allowed to think outside of the box.

 

If i go into a bank with my thai elite visa and open a bank account they have a whole book of how to do it specially for thai elite visa users - there's no thinking on their own, they follow instructions someone else gave them and there's zero space for individuality.

Edited February 9, 2019 by ThomasThBKK

[DrJack54]

5 hours ago, jacko45k said:

Get it out of your head that buying a truck house, fridge freezer or a pair of shorts has any impact on immigration. (Unless you bought it  off the officer). Bad they are rejecting Embassy letters, they should be valid 6 months after issue.

 

Income source (monthly 65,000) need only show as from overseas and no other proof of source needed.

You have no control of the whims of dull people who can't be bothered to read and learn the official requirements, 

Try the lump sum, matured 2 months prior, or more, make it 3 if you can. I plan to simply keep my bank balance over 800,000 all year, should work fine.

Not sure what foreign nurses getting paid in UK has to do with it?

 

 

Jack, I don't think I'm sidetracking the op to ask..... I plan on sticking 800k in fixed term account or savings ac. I currently and in past had my balance meet the "old requirements" so I have an savings ac with the light blue bank. Could you offer suggestion of lock in 800k with a bank or any other suggestion. I post this because I think other members might be interested in suggestions.

[MRToMRT]

Open Question - for the 65k a month coming from overseas - how many months do imm want to see before an extension requirement (i.e. 3 months before, 6, 1 year?)

[emptypockets]

Apparently for this year only they will show some flexibility. In one years time they will want to see 12 months worth of transfers is my understanding.

[DrJack54]

12 minutes ago, emptypockets said:

Apparently for this year only they will show some flexibility. In one years time they will want to see 12 months worth of transfers is my understanding.

Why is it your understanding when perhaps they wish to see a total amount of transfers that satisfies the ~ 800k

[elviajero]

3 hours ago, MRToMRT said:

Open Question - for the 65k a month coming from overseas - how many months do imm want to see before an extension requirement (i.e. 3 months before, 6, 1 year?)

Immigration haven’t specified, but say they will be flexible for the first year of change. I expect applicants will need to show 2-3 this year as a minimum, but anyone planning to use this option should start transfers asap.

 

Eventually it will be 12 when renewing using income. Not sure yet what they will want after next year if someone wants to change from cash in the bank to income.

[BuckBee]

Seems a mess to me and that before all the offices interpreting the rules differently etc, wouldn't it been wiser/easier to of maintained the law and arrested/prosecuted agents and officers breaking policy for profit !! supose Big Joker thought be easier make farang fix issue and just scribble out new retirement policy ! Guy certainly deserves his name but not salary or credibility ????‍♂️

So a first time retirement guy going need bum around on other visas for a year to build up 12months of monthly payment proof !

If deposit 800K in one go, how long that need sit before applying ? 2 months I assume and full 800K got still remain 3 months after application ????

Monthly income seems a complete hassle and can many having issues due to weak foreign currencies and bahts growth ... For those with 800K to spare it still pretty easy and best way really .

Think a lot who married and used retirement will be swapping to marriage and many immigration offices won't like that as more paperwork lol .

Big Joke indeed !

 

Edited February 9, 2019 by BuckBee

[jacko45k]

6 hours ago, DrJack54 said:

Jack, I don't think I'm sidetracking the op to ask..... I plan on sticking 800k in fixed term account or savings ac. I currently and in past had my balance meet the "old requirements" so I have an savings ac with the light blue bank. Could you offer suggestion of lock in 800k with a bank or any other suggestion. I post this because I think other members might be interested in suggestions.

I think Sheryl has made quite a few suggestions on this already. Likely with more background than me. I don't chase small amounts of interest, but as the account has to be accessible I simply used a fixed term deposit with Bangkok Bank at 1.5 %pa, 7 month term. It now seems to mature and be reinvested on the same conditions. Previously on maturity it would demote to a 3 month FD with poorer interest, and I would have to go down there, close it and open another. Slightly more interest is available with longer term, but 0.25% more for an 11 month doesn't seem worth it. 

[Capt Rob]

20 hours ago, jacko45k said:

Get it out of your head that buying a truck house, fridge freezer or a pair of shorts has any impact on immigration. (Unless you bought it  off the officer). Bad they are rejecting Embassy letters, they should be valid 6 months after issue.

 

Income source (monthly 65,000) need only show as from overseas and no other proof of source needed.

You have no control of the whims of dull people who can't be bothered to read and learn the official requirements, 

Try the lump sum, matured 2 months prior, or more, make it 3 if you can. I plan to simply keep my bank balance over 800,000 all year, should work fine.

Not sure what foreign nurses getting paid in UK has to do with it?

 

 

Not sure what foreign nurses getting paid in UK has to do with it?

 

Think he is projecting a result from UK government's policy and a possible parallel development here in Thailand. 

[moe666]

15 hours ago, ThomasThBKK said:

 

 

It's really easy to understand.

They can't control it, they can't check if the Chanote is real, or that it's really your truck or from a friend etc. or at least not in the short amount of time that they have for your visa application.

 

They don't care where your money is coming from monthly as long as they see its from you and not lend from someone else to avoid their rules.

They all know how the bankbooks look, they can easily see if all is ok.

They are nothing more than factory workers basically that follow their 10 point plan and are not allowed to think outside of the box.

 

If i go into a bank with my thai elite visa and open a bank account they have a whole book of how to do it specially for thai elite visa users - there's no thinking on their own, they follow instructions someone else gave them and there's zero space for individuality.

I guess the big rub is that a condo, truck or a'c units are not on the list of requirements for recieving an extension of stay. I do not understand people who constantly want to be treated differently the rules are fairly clear except of course the local interpertation. I have never had a problem show up with all the current paper work signed and completed, check by the officer wham bam thank you mam out the door.

[ThaiWai]

14 hours ago, MRToMRT said:

Open Question - for the 65k a month coming from overseas - how many months do imm want to see before an extension requirement (i.e. 3 months before, 6, 1 year?)

Every month since the announcement, forever.  Sooner you start the better.

[wpcoe]

21 hours ago, notrub said:

In Buriram one officer said he wanted to see the money on my account and that he wanted me to spend it, every month.

Oh, my.  I hope that does not become the norm.

[jesimps]

59 minutes ago, moe666 said:

I guess the big rub is that a condo, truck or a'c units are not on the list of requirements for recieving an extension of stay. I do not understand people who constantly want to be treated differently the rules are fairly clear except of course the local interpertation. I have never had a problem show up with all the current paper work signed and completed, check by the officer wham bam thank you mam out the door.

You're a good boy, take 10 house points.

[Ebumbu]

21 hours ago, elviajero said:

At this point I believe immigration just want to see the funds being transferred from abroad.

 

What's to stop someone from recycling funds back and forth from Thailand and their home country? In other words, is there any practical impediment to a kind of "merry go round" method of proving income? I don't get paid exactly once a month. But, I'd still like to use the income method. So, am looking at all options. 

[logres212]

15 minutes ago, Ebumbu said:

 

What's to stop someone from recycling funds back and forth from Thailand and their home country? In other words, is there any practical impediment to a kind of "merry go round" method of proving income? I don't get paid exactly once a month. But, I'd still like to use the income method. So, am looking at all options. 

I have read a couple of posts that two immigration offices have already stated that they will require backup proof for that 65,000 baht deposit, such as pension statements etc. This is to prevent recycling I guess. 

[elviajero]

27 minutes ago, Ebumbu said:

22 hours ago, elviajero said:

At this point I believe immigration just want to see the funds being transferred from abroad.

What's to stop someone from recycling funds back and forth from Thailand and their home country? In other words, is there any practical impediment to a kind of "merry go round" method of proving income? I don't get paid exactly once a month. But, I'd still like to use the income method. So, am looking at all options.

In theory it could be done. But immigration might not be happy if they see an account with multiple transfers abroad again. Anyone doing that is probably best advised to use two Thai bank accounts; but it would be expensive and a big hassle if done every month. The occasional transfer back (surplus funds) is probably doable.

 

It may turn out that immigration will accept less regular transfers as long as they total 800K, but I’d recommend people transfer at least 65K every month, until we know for sure.

[khunPer]

22 hours ago, notrub said:

I have invested 3 or 4,000,000 in property here over the last few years and have a truck and just bought a new car in Thailand...

You cannot use your property as proof of income (deposit), only cash money in a bank account counts.

 

If you have the funds, it's simply to open two accounts:

1) Fixed 12-month with 400k baht that need to be present at all time

2) Fixed 6-month with 400k baht that need to be present at minimum 5 months

 

If you can afford to deposit 800k baht, the easy solutions is a long-term fixed account with that amount, just bear in mind that the deposit shall be withdraw-able at any time (normally possible with loss of last period's interest).

 

You can always withdraw the interest, so you keep 400k baht, or 800k baht, only in the account(s).

 

I have used that method for years, and it has worked very well, and is easy for the immigration officer to check...????

[whimsicalmike]

I am looking at visas now as i intend to retire in CM. Getting a visa from the Thai embassy in Australia only requires proof of assets and income in Aus, seems very painless. It is most likely I will travel back home at least once a year so the deposit of 800,000 seems not a good option as just getting a new  visa from the Thai embassy. Leave the 800,000 in the stock market gets nearly 70,000 baht income with the spread of shares i have. that pays for 4 return tickets each year.

Unless they stop giving visa from Aus that what i  think i will do

 

[robertson468]

16 hours ago, MRToMRT said:

Open Question - for the 65k a month coming from overseas - how many months do imm want to see before an extension requirement (i.e. 3 months before, 6, 1 year?)

They require to see 12 months, but it does not have to stay in the account ad infinitum.  You can withdraw it and use it as you wish.  However, since the rule did not get published until January 2019, if your Visa was re-newed before that time, Immigration have said that an allowance should be made for this coming year only, by your local office in that case.  I would strongly recommend that you discuss this with your local Immigration Office, well in advance.

Edited February 10, 2019 by robertson468

[onekoolguy]

17 hours ago, emptypockets said:

Apparently for this year only they will show some flexibility. In one years time they will want to see 12 months worth of transfers is my understanding.

I wonder if they would accept quarterly installments of 195,000 or more? or other than 65k per month if the total equaled 780K or more per year ? Or are monthly installments the only option?

[parryhandy]

If your applying for your very 1st extension how many months worth of transfers do you have to show ? It can surely only be 2 as you've not been here long enough ? If it is 2 what's to stop you leaving the country every year then starting the extension process again therefore only having to show 2 months rather than 12 ? 

Edited February 10, 2019 by parryhandy

[arithai12]

On 2/9/2019 at 3:35 PM, notrub said:

It seems like the easiest way will be to put 1,000,000 in the bank and top it up when spending causes it to drop to 800,050. 

Sorry, what I am going to say may have been said already by others, frankly I am not going to read all replies.

Simply,  if your intention is not to go below 800k (wise choice if possible), why don't you put 800k in a fixed deposit account. You will earn an interest of 1.5%-2% per year, not much but better than what the savings account will give you. You can forget about topping up and such. And the IO will be happy.

 

[snooky]

36 minutes ago, arithai12 said:

Sorry, what I am going to say may have been said already by others, frankly I am not going to read all replies.

Simply,  if your intention is not to go below 800k (wise choice if possible), why don't you put 800k in a fixed deposit account. You will earn an interest of 1.5%-2% per year, not much but better than what the savings account will give you. You can forget about topping up and such. And the IO will be happy.

 

I am not sure of the current regulations, but some 10-15 years ago, it was explicitly stated that the 800,000bt could not be in a fixed type account.  Again it may have changed since but wise to check.

[elviajero]

45 minutes ago, snooky said:

1 hour ago, arithai12 said:

Sorry, what I am going to say may have been said already by others, frankly I am not going to read all replies.

Simply,  if your intention is not to go below 800k (wise choice if possible), why don't you put 800k in a fixed deposit account. You will earn an interest of 1.5%-2% per year, not much but better than what the savings account will give you. You can forget about topping up and such. And the IO will be happy.

 

I am not sure of the current regulations, but some 10-15 years ago, it was explicitly stated that the 800,000bt could not be in a fixed type account.  Again it may have changed since but wise to check.

Depends on the type of "fixed type account". You can't lock the money in, but you could have a fixed term or fixed interest account as long as the money is instantly available. Either type of account can have early withdrawal option; usually with a loss of interest.