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I have just transferred 800,000baht to my deposit account. It is shown as an international transfer. There are other receipts in the fixed account. If I withdraw money from the account Immigration might count the withdrawals as from the 800,000? So maybe I need a separate fixed account for the immigration money? Grateful for advice.

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2 hours ago, ubonjoe said:

As long as the balance never goes below 800k baht doing the withdrawals would not be a problem.

Thanks - good news!

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2 hours ago, NCC1701A said:

both ways ok but i have fixed so it is easier for them to see that the balance never drops below 800,000. my regular saving balance is all over the place with a large number of transactions. 

 

and the bank gives a letter for fixed accounts, not statements. also easier for them to understand. less numbers. 

 

money goes in. nothing ever comes out. 

Thanks - that's helpful.

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43 minutes ago, Kerryd said:

A lot of people put their "visa money" into a Fixed Term deposit to keep it separate from their day-to-day savings account.

That keeps them from accidentally spending any of it and makes it easier when it comes time to renew their Extensions. The easier you can make it for Immigration, the easier it will be for you.
I just did my renewal a couple weeks ago. Updated my bank book and when I went to Immigration, the IO checking the photocopy of the bank book highlighted the current balance as well as the balance from last year (as I generally only update it once or twice a year at most). That made it easy for them to see that I had the proper amount in the account for the proper time.

Having the money in a Fixed Term account earns a little more interest but if you need the money for any reason you can still get it quickly (but could lose some interest). As well, Fixed Term accounts don't come with an ATM card and you (personally) have to go to the bank to do a transaction on the account.

That prevents anyone from "accidentally" (or purposely) taking the money, even if they somehow get a hold of your ATM card and PIN.

Thank you for more good advice. The security aspect is important!

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I thoight immigration did not likr fixed accounts as they want to see that you a tually have funds for living on daily basis and see the account being used ??? 

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so the account is "for immigration"  only, but that give dirty looks & questions how one support themselves.... why is that even a question, as the 400/800k is there for 10+ years

 

more money in a saving account that never is touched, I guess most IO cannot phantom this idea... 1 - 2 years of their full salary on a saving account just sitting there... 

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What interest rate is anyone getting with their fixed account please and with what bank ?

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4 minutes ago, YorkshireTyke said:

What interest rate is anyone getting with their fixed account please and with what bank ?

BKK Bank 1.5%, but I do not know the rate, when they renew the term, which will happen this month, may be less. I also pay 15% of the earned interest in Government taxes.

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I have had my "visa money" in a Fixed Term deposit for over a decade now and Immigration (at Jomtien) has never once given me a dirty look or questioned what I was living on.
When my dad moved here (12 years ago), he set aside his "visa money" in a Fixed Term account as well and never had an issue about it.

And that was before they decided that some of us needed to keep half the money in the bank all year. (Which, before, was supposed to be what they thought we needed to live on and then they decided we should keep half of it locked up all year round. But only if you are "retired". And not using the "income method". Or married.)

But as is always noted, every Immigration office is different and what Jomtien wants/accepts may not be what another office (or any other office) wants or is willing to accept. Years ago I remember hearing people say that Immigration (in some places) wanted to see "a transaction" on the account being presented, even if it was just for 100 baht. 

Almost like they didn't believe the person in front of them actually had access to the account they were claiming as "proof" of funds. You know, like how some people were using Embassy letters as a way to get around the "income" method of proving funds because they knew no one had any way of actually verifying if the amounts they were claiming were true. Or how other people were using "agents" who provided them with an "account" they could use long enough to get their Extension renewed.

I remember the first couple of extensions I did, they only wanted a photocopy of the bank book page that showed the current (updated) balance. Plus the "bank letter" of course.
For the last few Extensions though, I've had to provide a photocopy of the first pages of the bank book as well, where it shows my name and the account number. Seems maybe they started thinking that maybe some people were trying to pass off accounts that didn't belong to them so they started wanting more proof that the account being presented actually belonged to the person presenting it.

(Again, this is at Jomtien and other Immigration offices may differ. In fact, even other Immigration Officers in the same office may differ as to what they want or will accept when it comes to the paperwork you have to submit.)

The interest on the Fixed Term accounts isn't great but actually, it's more than enough to pay for my annual Extension renewal and new Multi Re-entry permit. I just checked, the Bangkok Bank account I have automatically renews every year and is set at 1.5% interest. On 800k you net a little under 10,000 baht in interest after taxes. Cost to renew Extension and Multi Re-Entry permit - 5,800 baht. I just leave the interest in there to roll over.

For me, the Fixed Term account simplifies things so I don't have to stress out every year when I go to renew my Extension. 
 

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If I decide to move to Malaysia or Japan can I have easy access to my 800,000 in SCB (if I have a destination bank?). Presumably I do this after I renew my Retirement Ext or at any time before the next due date. I guess there will be transaction costs.

 

I was worried about this because I read that only 50,000b can be taken out of Thailand. Do the banks alert immigration that PaulEddy no longer has the money which entitles him to renew his Ret. Ext? Am I here illegally, or am I just being paranoic?

 

On the same note, if I am determined to move, I will not need a re-entry permit. If I ever came on holiday I would simply get 1 month stay at the airport?

 

Eddy

 

 

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