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Pungdo

Bank Statements for Retirement Extension

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2 hours ago, Pungdo said:

I approached OrbitRemit about creating a statement that would show international transfers over a 1 year period and they weren't that interested, however they already supply something that may get me over the line on a transaction by transaction basis that proves it was an international transfer, see the attachment.

There is a ray of hope and this issued from the IO at Phuket states that............"evidence of adequate finance more than 65,000 monthly" will be sufficient to prove you have enough for the retirement extension to be granted. It doesn't stipulate that it has to come from overseas.

 

Hopefully that will apply elsewhere too??

 

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I have a question about wire transfer fees.  There have been numerous posts indictating that Fidelity Cash Management Account holders are able to wire money to a Thai bank for free ($0.)  I was charged $30 for a $2,200 wire transfer to Bangkok Bank on February 11th.  I have inquired several times each of Fidelity Direct and of my NY-based financial advisor (LLFA) the reason why I am being charged when everyone whom I know in Thailand says that their wire transfers are free.  Fidelity says that the $30 is a fee charged by my advisor; my advisor says that the money doesn't come to him but that it is charged by Fidelity.  The only explanation that I can imagine for the discrepancy is that the people who are getting free transfers are in fact using domestic bank-to-bank transfers which will be free until April 1.  After that they will not be accepted by Bangkok Bank. People will then need to pay Fidelity $30 for the transfer or use a transfer service that may unpredictably transfer the money from another Thai Bank resulting in the wrong transfer code posted by the receiving bank.  The required transfer code is FTT.

Could anyone who has knowledge of the Fidelity transfer procedures please comment?

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51 minutes ago, xylophone said:

 

@xylophone

So this this Phuket nothing about the 2/3 months before or after 3 months for the 800k and for the combined version min 400k all year in account

 

 

 

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10 minutes ago, baggies666 said:

 

No this just looks like the "bare bones" to assist IOs with the basics 

 

11 minutes ago, baggies666 said:

and for the combined version min 400k all year in account

Now that I have never seen posted...........Yes, 800k 2 months before and 3 months after, then 400k untouched, but combination method m o, not seen. Nor anything about using the 65k pm method AND having 400k in the bank. 

 

Perhaps different interpretations, but the one which interested me was as posted because my remits to BBK Bank don't always show as foreign funds, but perhaps they don't have to??

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30 minutes ago, DogNo1 said:

I have a question about wire transfer fees.  There have been numerous posts indictating that Fidelity Cash Management Account holders are able to wire money to a Thai bank for free ($0.)  I was charged $30 for a $2,200 wire transfer to Bangkok Bank on February 11th.  I have inquired several times each of Fidelity Direct and of my NY-based financial advisor (LLFA) the reason why I am being charged when everyone whom I know in Thailand says that their wire transfers are free.  Fidelity says that the $30 is a fee charged by my advisor; my advisor says that the money doesn't come to him but that it is charged by Fidelity.  The only explanation that I can imagine for the discrepancy is that the people who are getting free transfers are in fact using domestic bank-to-bank transfers which will be free until April 1.  After that they will not be accepted by Bangkok Bank. People will then need to pay Fidelity $30 for the transfer or use a transfer service that may unpredictably transfer the money from another Thai Bank resulting in the wrong transfer code posted by the receiving bank.  The required transfer code is FTT.

Could anyone who has knowledge of the Fidelity transfer procedures please comment?

I'm interested in what the answer is if you succeed in getting to the bottom of it.  Here's something from a competitor about the Fidelity process, so should be taken with a grain salt.  They say it costs $15 and perhaps more depending on the intermediary banks used.  

 

https://transferwise.com/us/blog/international-wire-transfer-fidelity-us

 

I do appreciate the frustration with having to deal with two people (brokerage and advisor) pointing the finger at each other rather than serving their client.

 

I've never used an advisor so I don't know how they get compensated for their advice.  I've always been pretty good at making my mistakes all by myself. 😉

 

Please report back on what you find out as I've been one of those who has heard that Fidelity has $0 international wire fees.  If it's not really true I'd like to know that so I don't spread erroneous information.

 

I've also heard that Vanguard has $10 international wire fees and I intend to put that to the test shortly.

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4 minutes ago, xylophone said:

No this just looks like the "bare bones" to assist IOs with the basics 

 

Now that I have never seen posted...........Yes, 800k 2 months before and 3 months after, then 400k untouched, but combination method m o, not seen. Nor anything about using the 65k pm method AND having 400k in the bank. 

 

Perhaps different interpretations, but the one which interested me was as posted because my remits to BBK Bank don't always show as foreign funds, but perhaps they don't have to??

Ok thanks, I may go down there in a few weeks, I normall go mid April to do mine but I was interested in the combo method as would prefer to leave 400k all year round as I do monthly transfers anyway but not pension.

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4 hours ago, xylophone said:

There is a ray of hope and this issued from the IO at Phuket states that............"evidence of adequate finance more than 65,000 monthly" will be sufficient to prove you have enough for the retirement extension to be granted. It doesn't stipulate that it has to come from overseas.

 

Hopefully that will apply elsewhere too??

 

What "evidence" will be acceptable?

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2 hours ago, albertik said:

A brief synopsis of my Immigration visit today.

Very useful post, thanks.

Which Immigration Office did you visit?

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I was at Kap Chom  which is Imm. office for Surin. I think I did not spell that correctly.  Maybe it's Kap Chong.

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29 minutes ago, yang123 said:

What "evidence" will be acceptable?

Well the way I read that "notification" I posted, it should be from the bank statements. 

 

But.............it seems to be a wait and see what is accepted situation.

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It has been reported in another thread that Thai Bank HQs have all been informed of what Thai immigration needs and can provide a more detailed statement than one is likely to get from one's branch, and that you should call the HQ.

 

I can't verify this myself but you might like to try it..

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