To day – my 1 year retirement extension experience using 800,000 Baht in a Thai bank

[TallGuyJohninBKK]

25 minutes ago, Pib said:

 As talked in this thread with some banks unless it's some type of transaction such as a deposit or withdrawal has been made when you stick your passbook into the passbook update machine (or a bank rep does it at the counter) the passbook will only be updated to show the last transaction and the date it occurred.   Say your last deposit/withdrawal was two months ago...you go update you passbook....and the line entry it prints is that transaction from two months ago with a two months ago date....or no new line entry will be printed at all. 

 

 

FWIW, I've got a CIMB fixed deposit account currently, and have had several discussions with CIMB about this.

 

AFAICT, the only time their system can/will update my fixed deposit account passbook is at the end of each month when the interest credit occurs. But if I just walk into a branch on a random day, neither the counter staff nor the passbook update machines can do it (a random update showing the balance as of that day). In fact, at CIMB, their ATM-like passbook update machines don't work at all with fixed deposit passbooks.

 

So for that reason, with BKK CW demanding bank passbook updates the same day as your extension application, the CIMB fixed deposit account is basically useless for Immigration purposes at BKK CW. Not to mention, AFAIK, there's no CIMB branch inside the Gov. Center complex.

 

Edited March 21, 2019 by TallGuyJohninBKK

[dick turpin]

Curious to know, anyone else done a recent retirement extension at Korat and been asked to return in three months time to show B800,00 still in account, not mentioned when I did my extension couple of weeks ago.

Edited March 21, 2019 by dick turpin

[attrayant]

Some bank will probably jump on this as a service offering to retirees - some sort of account where the balance is protected and can't drop below 800K during the crucial months (two prior and three post-renewal, then 400K the rest of the year).  Just meaning you can't accidentally make a transaction or withdrawal that causes you to unknowingly put your extension of stay in jeopardy.

[Skallywag]

11 minutes ago, attrayant said:

Some bank will probably jump on this as a service offering to retirees - some sort of account where the balance is protected and can't drop below 800K during the crucial months (two prior and three post-renewal, then 400K the rest of the year).  Just meaning you can't accidentally make a transaction or withdrawal that causes you to unknowingly put your extension of stay in jeopardy.

This is a great idea... the foreign retirement visa bank account.  Takes the worry and guessing out of your bank book balances at visa extension time. 

Yet if the bank made a mistake, only the foreigner would suffer at their next 1 year extension - not the bank 555

[yodsak]

4 hours ago, Khunangkaro said:

To show the balance at your bankbook, you just do a Bankbook UPDATE (together with the bank's confirmation letter) the same day as your presentation at Immigration. 

An update shows the date and the balance of that day. 

No need to do any withdrawal/deposit

Not with SCB.   i had a letter but the bankbook didn't update. only to the last interest payment.

jomtien said start everything again,    new letter + update bankbook .   

i had to withdraw money to show movement for update.  

[PAWNEESE]

9 hours ago, KittenKong said:

For many years it has never been an issue for me in Jomtien. I wonder if perhaps you had not respected the seasoning requirement?

 

As for the "instantly available" requirement, time deposits here are normally instantly available but you will lose all the interest if you withdraw early. I find it quite reassuring to have 800k on fixed deposit that pays interest (currently around 2.5%) but is still available to me with a small penalty should I urgently need it for medical bills etc.

It was well and truely seasoned .. Almost a year. I posted about it at the time. It was only 5 years ago and you have forgotten already ? Why do I bother.

 

To be serious thanks for the tip about fixed deposit and small penalty.  My local K Bank have always just told me no withdrawals allowed with fixed term. I have checked on line too but not for a while. Also at the time .. Jomtien imigration officer suggested I go and see a senior officer he pointed to as I was wingeing about my million baht deposit not counting. That officer looked at my bank book as I approached and said .. no good before I opened my mouth. I.e he could see it was K bank and guessed the problem.

 

I shall seek out one of these instant withdrawal accounts even if it means moving to a different bank.  2.5 percent sounds good to me. I get 0.20 percent for my UK savings. 

 

 

Edited March 21, 2019 by PAWNEESE

[Pib]

9 hours ago, TallGuyJohninBKK said:

 

FWIW, I've got a CIMB fixed deposit account currently, and have had several discussions with CIMB about this.

 

AFAICT, the only time their system can/will update my fixed deposit account passbook is at the end of each month when the interest credit occurs. But if I just walk into a branch on a random day, neither the counter staff nor the passbook update machines can do it (a random update showing the balance as of that day). In fact, at CIMB, their ATM-like passbook update machines don't work at all with fixed deposit passbooks.

 

So for that reason, with BKK CW demanding bank passbook updates the same day as your extension application, the CIMB fixed deposit account is basically useless for Immigration purposes at BKK CW. Not to mention, AFAIK, there's no CIMB branch inside the Gov. Center complex.

 

Yeap, such an account whose passbook can't be updated to reflect the current balance as of today is not going to be very useful for extension of stay purposes.  And with the various types of fixed accounts if your fixed account was a promotional one "with a limited time window for additional deposits until the maturity date" this would mean you couldn't even add a small deposit just so you could get an updated balance with that deposit date.  This compared to a fixed account where deposits could continue to be made.  The Bangkok Bank fixed accounts I use to have were promotional ones like say a 12 month fixed account paying 3% where typically their standard 12 month fixed account paid say 2%....but with that promotional account I only had like a two month window to make additional deposits and then no more deposits could be made....when the account matured I had to rolled it over to a brand new fixed account or just let it automatically convert to a 90 day fixed account.   So many different variations of fixed accounts at various Thai banks.

 

But now that you know about a Balance Forward (B/F) transaction, which at least Bangkok Bank uses to print the current balance with current date for a fixed account, maybe go back to CIMB, press them to see if they also can do a B/F transaction to force a current balance with current day printout to your passbook. 

 

When I was using a Bangkok Bank fixed account for around 4 years for my annual extension of stay renewal only the bank rep/teller could force a B/F transaction for a fixed account....could not be done at a passbook update machine. 

 

I still remember how I would walk into their CW branch as soon as their doors opened at 8:30am and go to the teller to say I need a letter for immigration.  One of the very first things the teller would do would stick my passbook into their little passbook update device at her position, the teller would spend about two seconds making a few clicks on her keyboard/screen, and and then her little machine would print a Balance Forward (B/F) transaction in my passbook with current balance and current date. Then the teller continued on to prepare the letter.  

 

Maybe the CIMB branch staff you talked to didn't really understand what you needed...but if they did, then maybe the CIMB system simply can't generate B/F type transaction on certain types of accounts or maybe any account.  Each Thai bank has its own system, banking codes, way of doing things, ways of saying no-can-do-farang.  Preaching to the choir I know.

Edited March 21, 2019 by Pib

[jacko45k]

10 hours ago, Skallywag said:

This is a great idea... the foreign retirement visa bank account.  Takes the worry and guessing out of your bank book balances at visa extension time. 

Yet if the bank made a mistake, only the foreigner would suffer at their next 1 year extension - not the bank 555

Yes wonderful. If for some reason or emergency you had to pack up and go home, they get to keep it!

[scubascuba3]

Yes wonderful. If for some reason or emergency you had to pack up and go home, they get to keep it!

Yes a daft idea. Just have a 2nd account with the 800k in taking account of any annual charges and don't touch it. Handy only having a passbook sometimes

[moonseeker]

From reliable friend. Extension in Jomtien yesterday. Entire process friendly and 15 minutes, as usual. Based on 800K in bank. Only part he was not aware of and this was done by the officer at the desk for him. You now  need 1 more copy an same A4 page of passport and bankbook page showing the 800 + K, signed off course. The officer then staples a coded paper with date when to come back in 3 months to show the balance again. In case of traveling during that time, which he is, he was told to come show the book again within 2 days of returning. Easy, friendly and clear. Hope this helps. 

MS>

Edited March 22, 2019 by moonseeker

[Rambo]

On 3/21/2019 at 12:28 AM, kinyara said:

I always do a 1,000 baht withdrawal and re-deposit on the day of my submission at the same time as getting my bank letter so the balance ties into the letter, kind of obvious I would have thought.

Do things become somewhat more complicated with a Foreign Currency Deposit Account, in my case using GB Pounds ? Can make a withdrawal from FCD Account by converting an amount into Thai Baht but clearly not able to make a GBP Deposit. A withdrawal and re-deposit in GBP not possible......has anyone had experience of this ?

[KittenKong]

12 hours ago, TallGuyJohninBKK said:

FWIW, I've got a CIMB fixed deposit account currently, and have had several discussions with CIMB about this.

AFAICT, the only time their system can/will update my fixed deposit account passbook is at the end of each month when the interest credit occurs.

That assumes that you have chosen to have the interest paid monthly. Anyone who chooses to have it paid at the end of the term (like me) wont be able to update their book until the end of the term.

[KittenKong]

2 hours ago, Pib said:

Yeap, such an account whose passbook can't be updated to reflect the current balance as of today is not going to be very useful for extension of stay purposes.

I use mine for this purpose without any problems at all.

[Pib]

5 minutes ago, KittenKong said:

I use mine for this purpose without any problems at all.

How do they update your passbook on the day you get your bank letter?  That is, create an update line entry in your passbook with today's date.

[kinyara]

11 hours ago, yodsak said:

Not with SCB.   i had a letter but the bankbook didn't update. only to the last interest payment.

jomtien said start everything again,    new letter + update bankbook .   

i had to withdraw money to show movement for update.  

 

Exactly my experience at Jomtien the first time, I have a passbook with Krungsri and they wanted to see movement on day of application effectively confirming the balance in black and white in the passbook despite the bank’s confirmation letter. The complication was in the case of Krungsri for some reason they could only issue the letter based on the cleared balance from the previous day per their bank system, ( I know , I know ???? ),  so a withdrawal only meant the letter didn’t match the passbook balance, which IO wouldn’t accept. That’s why I now withdraw and deposit the same amount day of letter and submission so everything ties in exactly, no big deal now I know.

 

I’m probably more laid back than most and don’t let these things phase me, it gives me a small sense of achievement when I walk out each year with no hassle. I also guess I must lead a very quiet life here as 5 visits a year to Jomtien, 1 retirement renewal, 2 90 day reports and 2 re-entry visas probably totalling 1 hour max doesn’t exactly eat into my less than hectic annual schedule. I’m retired after all :))

[KittenKong]

2 hours ago, Pib said:

How do they update your passbook on the day you get your bank letter?  That is, create an update line entry in your passbook with today's date.

They dont, as I mentioned several times. This has never been required of me at Jomtien immigration for my retirement extension.

[scubascuba3]

 
The complication was in the case of Krungsri for some reason they could only issue the letter based on the cleared balance from the previous day per their bank system, ( I know , I know [emoji3] ),  so a withdrawal only meant the letter didn’t match the passbook balance, which IO wouldn’t accept. That’s why I now withdraw and deposit the same amount day of letter and submission so everything ties in exactly, no big deal now I know.
 

Good info that, i have Krungsi so will probably have the same problem. So same amount withdraw and deposit avoids the problem, nice one

[scubascuba3]

They dont, as I mentioned several times. This has never been required of me at Jomtien immigration for my retirement extension.

It makes me wonder what will happen when people transfer to a new deposit or bank account. Maybe won't settle the same day so technically the balance has dropped below the 400k/800k

[JackThompson]

1 hour ago, KittenKong said:

3 hours ago, Pib said:

How do they update your passbook on the day you get your bank letter?  That is, create an update line entry in your passbook with today's date.

They dont, as I mentioned several times. This has never been required of me at Jomtien immigration for my retirement extension.

If you did need it, you could deposit 100 Baht, then update your passbook, then get the bank-letter done.  That way, the balance matches.

[KittenKong]

1 minute ago, JackThompson said:

If you did need it, you could deposit 100 Baht, then update your passbook, then get the bank-letter done.  That way, the balance matches.

No, I cant do that. It's a time deposit.

[holy cow cm]

On ‎3‎/‎21‎/‎2019 at 5:23 AM, scubascuba3 said:

Krungsri Bank confirmation letter has to be obtained on the same day as the application , and there has to be financial movement shown in the account on the same day of the retirement extension application .  I was also told that a Bank confirmation letter would only be valid on the day it was issued"

Korat immigration is probably a place not crowded with foreigners so a bank statement and account movement on same day would probably be possible. In CM that is a no way as the que is substantial on most days.

[JackThompson]

26 minutes ago, KittenKong said:

No, I cant do that. It's a time deposit.

In that case, if the bank-staff cannot force a passbook-update, that type of account may not be use-able at some offices.  Perhaps a statement of activity from the bank, stamped the same day as the normal "bank-letter," would suffice.

 

24 minutes ago, holy cow cm said:

Korat immigration is probably a place not crowded with foreigners so a bank statement and account movement on same day would probably be possible. In CM that is a no way as the que is substantial on most days.

You would need to do anything with the bank before going to immigration that day. 

[TallGuyJohninBKK]

16 hours ago, Pib said:

Maybe the CIMB branch staff you talked to didn't really understand what you needed...but if they did, then maybe the CIMB system simply can't generate B/F type transaction on certain types of accounts or maybe any account.  Each Thai bank has its own system, banking codes, way of doing things, ways of saying no-can-do-farang.  Preaching to the choir I know.

 

That's true Pib. They all have their own variations bank to bank...

 

With CIMB and my fixed deposit account, which was just a regular one not any kind of promotion, AFAIK:

--there was no ability to add any funds to the account any time after opening, period.

--the CIMB regular passbook update machines don't work at all for their fixed deposit passbooks. You have to go to the counter and have them update it on one of their printers.

--And even when you do that, the printout will only show the balance updates and the added interest being credited monthly as of the date of those credits, and won't do anything for the current day.

 

--I didn't ask the CIMB staff in their head branch about the "balance forward" approach, because I'd never heard of it at the time. But I was talking to staff in their main branch and a couple officers who spoke very good English, and were clear in understanding what I wanted and why.  And their answer was, no can do. 

 

Maybe I'll give another run at them the next time I'm in the neighborhood. But frankly, given BKK CW's insistence on the bank book being updated on the day of one's application and there being no CIMB branch in the CW Government Center building, I'm thinking I'll just move the funds to Krungsri and MTD for the year ahead, and make my life simpler.

 

Fortunately, in my case, my CIMB fixed deposit account will mature early enough this year to allow me to move the funds without forfeiting interest and season them elsewhere with lots of salt and pepper! 

 

 

Edited March 22, 2019 by TallGuyJohninBKK

[SamuiGeezer]

On 3/21/2019 at 2:14 PM, crazykopite said:

It was only last month that I received a text from my SCB bank telling me that my bank had closed and that my account had been transferred to another SCB 10 KM further than my last one trouble is I cannot move or change to another bank as no doubt immigration would turn me down as I had switched from one bank to another ☹️☹️☹️

I got the same text. Seems like you like to play up the negatives. If the same as me you have been transferred to a far more customer friendly branch which is open for far more hours?

[davehowden]

20 hours ago, moonseeker said:

From reliable friend. Extension in Jomtien yesterday. Entire process friendly and 15 minutes, as usual. Based on 800K in bank. Only part he was not aware of and this was done by the officer at the desk for him. You now  need 1 more copy an same A4 page of passport and bankbook page showing the 800 + K, signed off course. The officer then staples a coded paper with date when to come back in 3 months to show the balance again. In case of traveling during that time, which he is, he was told to come show the book again within 2 days of returning. Easy, friendly and clear. Hope this helps. 

MS>

"come back in 3 months to show the balance again."

 

But just showing a print of the balance will not prove that the 400 or 800 has been maintained throughout the 3 month period. 

Perhaps they meant a print of all transactions in the bankbook for the last 3 month period.

[jacko45k]

3 hours ago, davehowden said:

Perhaps they meant a print of all transactions in the bankbook for the last 3 month period.

If you update a passbook often enough that is what you normally get. If it has been some time or multitude of transactions since the last update a consolidated single line entry gets printed. That, in theory, would not confirm the balance has never dipped below the limits. I would like to get a firm idea of what triggers a consolidated entry in Bangkok Bank Savings so as to avoid it happening. 

[DogNo1]

PIB:  I’m confused about your getting your bank letter at CW.  I am using the 65,000 per month FTT method.  My understanding was that I must get the certification of my bank book and the bank letter at my home branch (Phantip on Phetburi.)  Perhaps the CW source of the letter is OK for those using the 800,000 in the bank method (?)  I have just done my FTT for March and plan tp apply for my extension on April 3rd so I am planning on getting my bank letter and bank book certification from the branch at Phantip next week.  My understanding is that I only need to have my foreign transfers verified, not my bank balance on the day that I apply.  Under the rules, I can spend as much of my money as I like so long as I have monthly foreign transfers of 65,000 or more.  Please advise.

[TallGuyJohninBKK]

1 hour ago, DogNo1 said:

PIB:  I’m confused about your getting your bank letter at CW.  I am using the 65,000 per month FTT method.  My understanding was that I must get the certification of my bank book and the bank letter at my home branch (Phantip on Phetburi.)  Perhaps the CW source of the letter is OK for those using the 800,000 in the bank method (?)  I have just done my FTT for March and plan tp apply for my extension on April 3rd so I am planning on getting my bank letter and bank book certification from the branch at Phantip next week.  My understanding is that I only need to have my foreign transfers verified, not my bank balance on the day that I apply.  Under the rules, I can spend as much of my money as I like so long as I have monthly foreign transfers of 65,000 or more.  Please advise.

 

Pib is doing the 800,000b bank deposit method for retirement extensions, not the monthly foreign transfers. And for that, Krungsri and perhaps many other bank branches at the CW Govt complex will issue letters for customers who have their home account at a different branch. It's basically just a letter confirming you own the account and have a certain balance as of that day.

 

The confirmation of 12 monthly foreign transfers paperwork is an entirely different thing. I'm not sure we clearly know yet just what kind of paperwork Immigration at any given office is going to accept for that, and whether or not the Govt. Complex branches will or will not be able to issue that kind of documentation for accounts held at other branches.

 

Basically, for the monthly foreign transfers, some folks here believe all Immigration will want is a general bank letter confirming you own the account and then bank stamped copies of your bankbook showing the foreign transfer entries. I would imagine the CW branches can/would handle that.

 

However, there are other reports and members here who have said their Immigration offices instead want something more detailed, being the formal credit advice letters that show the details for each foreign transfer and then a confirming letter that summarizes all the foreign transfers. Whether the CW branches can/will do that for accounts held elsewhere, I have no idea.

 

Which of those two document scenarios is going to be demanded at CW, I don't think we've heard any clear reports thus far.

 

[Pib]

58 minutes ago, DogNo1 said:

PIB:  I’m confused about your getting your bank letter at CW.  I am using the 65,000 per month FTT method.  My understanding was that I must get the certification of my bank book and the bank letter at my home branch (Phantip on Phetburi.)  Perhaps the CW source of the letter is OK for those using the 800,000 in the bank method (?)  I have just done my FTT for March and plan tp apply for my extension on April 3rd so I am planning on getting my bank letter and bank book certification from the branch at Phantip next week.  My understanding is that I only need to have my foreign transfers verified, not my bank balance on the day that I apply.  Under the rules, I can spend as much of my money as I like so long as I have monthly foreign transfers of 65,000 or more.  Please advise.

I was talking the Bt800K deposit method....that is what I have used for many years now.   For the Bangkok Bank branch at CW they will do a bank letter for the deposit method for "any Bangkok Bank branch in Thailand...in Bangkok, etc."   It's a simple letter as all it reflects is you name, address, account number, how much is on deposit as of the bank letter date, how long you been a customer.   And the bank letter generated by Krungsri is very similar...very basic letter.  I'm not sure if the Krungsri branch at CW immigration will do deposit letters for all Krungsri branches as I've never asked and my account happens to be with that CW branch...but I bet they do the letters for any Krungsri branch since the letter is so simple.

 

However, but, for those of you doing the new monthly income method I don't know if either the Bangkok Bank or Krungsri Bank branches at CW would do such letters for any of their branches.   That is different letter and now requiring a printout of past international transfers.  Just different animals.  

 

But I do know from my experience just a few weeks ago in trying to get some Credit Advices to prove international transfers (I was only doing this out of curiosity) I had to go to my home branch which is in the HQ Bangkok Bank building on Silom Rd.  Two of three Bangkok Bank branches here in western Bangkok where I live turned me down in pulling Credit Advices and said I had to go to my home branch to get Credit Advices...and then a third branch did call my home branch to have them fax over one credit advice.  But basically that third branch couldn't (or wouldnt) pull the credit advices for my account at another Bankgok Bank branch but that third branch did go out of their way to call my home branch, have me talked to them on the phone, and then my home branch faxed the credit advice over. 

 

So, the letter I was talking about dealt with the Bt800K deposit method which is a simple and easy letter with no printouts required other than a copy of your passbook.  The monthly income letter is a different animal along with printout/attachment requirements---that could very well be a home branch thing.

[TallGuyJohninBKK]

29 minutes ago, Pib said:

 And the bank letter generated by Krungsri is very similar...very basic letter.  I'm not sure if the Krungsri branch at CW immigration will do deposit letters for all Krungsri branches as I've never asked and my account happens to be with that CW branch...but I bet they do the letters for any Krungsri branch since the letter is so simple.

 

The Krungsri branch at the CW Govt Complex will indeed do regular 800K/400K bank deposit letters for Krungsri customers who have their deposits at other Krungsri branches.

 

However, as Pib commented above and similar to what I also said, we really don't know yet whether the CW Govt Complex branches are going to be able/willing to produce the documents CW Immigration is going to want to verify monthly foreign transfers. In part because, we don't clearly know what kind of documents CW Immigration is going to want to verify those -- unlike the long-running, established regular bank deposits situation.

Edited March 23, 2019 by TallGuyJohninBKK