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Jack Mountain

Retired Ext. Changing from Bank balance to Affidavit method.

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10 hours ago, Max69xl said:

Peter Denis is not correct. If the 800k was in the bank for 90 days after the application and never below 400k until next application when applying for an extension using the >65k/month method, then everything is fine.

I wrote (see post #6) that there are no clear rules about the 'change of method for proving you meet the financial requirements' hence my recommendation to opt for the most conservative approach (i.e. meeting the requirements of both methods, so that there can not be any problem).  

And I do hope that UJ and yourself are right, and that OP does not experience any difficulty when applying for his 1-year extension of stay with a switched method to prove his financials.

OP @Jack Mountain > Please do keep us posted on your experience yesterday or @Max69xl can you confirm that people did exactly that without any problems.

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Posted (edited)
15 hours ago, Peter Denis said:

Hmmm...

I do hope that you don't run into troubles.

You wrote that you kept 800K for the first 3 months after your previous 1-year extension of stay was approved, and that your then kept it over 400K for the rest of the year till now.

But if you did not top up again to 800K in the last 2 months before applying for the continuation of your 1-year extension of stay, you do NOT meet the financial requirements for such an application when using the funds-in-bank method.

Hopefully Jomtien IO will be lenient, because you can show an Embassy certified income-statement, proving that your foreign monthly income meets the IO requirements.

Please do keep us posted on whether you experienced any difficulties with your application because of not keeping 800K in your personal thai bank account during the last 2 months before your application.

 

I also wrote that I was planning to do it this time with an embassy letter, a so called Affidivat (proof of income).

And for that there is no need for topping up.

Btw. Actually I topped it to 800K 2 months ago, just in case. 🙂

Been there (Jomtiem Imm) 30/7 => Everything ok.

 

Edited by Jack Mountain
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Posted (edited)

I was worried about my international transfers being coded correctly (a few were not) so deposited 800k as a backup and seasoned it. I went for my extension in May and, as expected, the I/O really wanted me to go with the 800k but I resisted and proved all the 65k transfers were international. She seemed to relent and when I picked up the passport a week later they sent me to a second I/O. I asked her was the 800k or 65k option used for my extension.  She said 800k. I asked why and she sent me back to the original I/O. I said I thought we agreed to use the 65k method. She took my passport and talked to a third officer then made a few entries in her computer and said "65 ok".  Now, because I have zero faith in them, I have kept the 800k in the bank for almost 3 months just in case they raise the issue at my 90 day as I have nothing in writing saying the 65k method was used.  I have also made monthly transfers of 65k since May. QUESTION: If they don't mention the deposit can I withdraw all 800k and just continue with the 65k deposits and go that route next May?  I already lost a literal fortune in stocks from keeping the 800k here this long and want it back earning for me. 

Edited by ThaiWai
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22 minutes ago, ThaiWai said:

I was worried about my international transfers being coded correctly (a few were not) so deposited 800k as a backup and seasoned it. I went for my extension in May and, as expected, the I/O really wanted me to go with the 800k but I resisted and proved all the 65k transfers were international. She seemed to relent and when I picked up the passport a week later they sent me to a second I/O. I asked her was the 800k or 65k option used for my extension.  She said 800k. I asked why and she sent me back to the original I/O. I said I thought we agreed to use the 65k method. She took my passport and talked to a third officer then made a few entries in her computer and said "65 ok".  Now, because I have zero faith in them, I have kept the 800k in the bank for almost 3 months just in case they raise the issue at my 90 day as I have nothing in writing saying the 65k method was used.  I have also made monthly transfers of 65k since May. QUESTION: If they don't mention the deposit can I withdraw all 800k and just continue with the 65k deposits and go that route next May?  I already lost a literal fortune in stocks from keeping the 800k here this long and want it back earning for me. 

When IO did not provide you with a 'Bank-book balance check' form with the appointment date, it is reasonable to presume that they indeed used the 65K income-transfer method for your 1-year extension of stay application.  And in that case there is no need to keep the 800K on your personal thai bank-account.

Also when using the on-line 90-day reporting website, there would also be no reason to visit your IO after 3 months.

Please note that when using the +65K income-transfer method you would need to continue doing those +65K transfers each and every month during the 1-year permission to stay period granted.

>> I did PM you a document on how to ensure you get hold of the necessary evidence that the +65K transfers originated from abroad.  The document specifically addresses how to do this when using TransferWise, but the info is applicable for any money-transfer of which you need to prove the foreign origins.

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Posted (edited)
14 hours ago, ThaiWai said:

QUESTION: If they don't mention the deposit can I withdraw all 800k and just continue with the 65k deposits and go that route next May? 

Yes.

 

 

Edited by Tanoshi
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14 hours ago, ThaiWai said:

I already lost a literal fortune in stocks from keeping the 800k here this long and want it back earning for me. 

I don't know what kind of stocks you invest in or the returns, but I would advise you do the maths.

 

You can deposit the 800K in a Fixed Term account giving 1.5% interest.

You will also save the costs of 12 x transfers and fluctuating exchange rates.

 

Consider the interest and Savings by using the 800K method against possible gains (or losses) by investing the same amount in stocks.

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On 7/30/2020 at 9:43 PM, Damual Travesty said:

I am not certain of what embassies if any still are allowed to give a letter.

All embassies that previously provided such letters will still do so, except the US, UK and Australia.

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43 minutes ago, BritTim said:

All embassies that previously provided such letters will still do so, except the US, UK and Australia.

Australia is already said the will do them

The US and the UK will do them when told they are needed by immigration. Same as before when thet first said no back in March.

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23 minutes ago, ubonjoe said:

Australia is already said the will do them

The US and the UK will do them when told they are needed by immigration. Same as before when thet first said no back in March.

I was responding to a post about income letters for a retirement extension.

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18 minutes ago, BritTim said:

I was responding to a post about income letters for a retirement extension.

Confusion from there being so many posts about the extension stuff.

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16 minutes ago, ubonjoe said:

Confusion from there being so many posts about the extension stuff.

Indeed! As if there was not already enough confusion around visas, extensions, expiry dates etc., without now having to be careful about which embassy letter someone wants. 😉 

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