Retirement Visa problem - New Rules

[Kahoy]

This has probably been answered but does anybody know if Transferwise is accepted as proof of monthly deposits to a Thai bank account since it is not clear that the money came from outside Thailand although logically it must have done so.? 

[Scuba+]

This has probably been answered but does anybody know if Transferwise is accepted as proof of monthly deposits to a Thai bank account since it is not clear that the money came from outside Thailand although logically it must have done so.? 

Might be accepted if a Bangkok Bank account but can't be guaranteed. Waiting for reports to hear whether Immigration has accepted or rejected.

I'm not risking it and sticking with swifts until we get enough reports

[Soi7]

8 hours ago, Kahoy said:

This has probably been answered but does anybody know if Transferwise is accepted as proof of monthly deposits to a Thai bank account since it is not clear that the money came from outside Thailand although logically it must have done so.? 

Transferwise has three partner Banks they use here in Thailand Bangkok Bank Kasikorn bank and TMB bank. Transferwise never transfers any money into Thailand their money is here in their partner Banks already they just transfer into the account that you request. That is why kasikorn and tmb transfers to a Thailand account do not show up as International because no money is actually transferred internationally. Guys were saying that Bangkok Bank transfers are hit-and-miss showing International. This information came directly from transferwise on a post in Thai Visa with communication directly from them to one of their customers. Guys that are in a position to do so should just leave the 800,000 here if they want to live here that badly. That is basically a trouble-free remedy for this.

Edited February 28, 2019 by Soi7

[timbota]

11 minutes ago, Soi7 said:

 Guys that are in a position to do so should just leave the 800,000 here if they want to live here that badly. That is basically a trouble-free remedy for this.

Exactly.  

For me personally, if I cannot afford to tie up 800K then maybe I cannot afford to live here or the benefits of living here are simply not worth it to me.

[Scuba+]

Exactly.  
For me personally, if I cannot afford to tie up 800K then maybe I cannot afford to live here or the benefits of living here are simply not worth it to me.

If you have the monthly income whats the point in the 800k sitting there doing nothing, I'd rather have it invested

[Soi7]

Just now, timbota said:

Exactly.  

For me personally, if I cannot afford to tie up 800K then maybe I cannot afford to live here or the benefits of living here are simply not worth it to me.

I am a long way from loaded when it comes to Financial Security. But I just think it cures a tremendous headache to do it this way not having to worry every year about showing financial statements and what month it came in and make sure it's 65,000 and make sure it comes in on time. Just leave it and renew every year

[Scuba+]

I am a long way from loaded when it comes to Financial Security. But I just think it cures a tremendous headache to do it this way not having to worry every year about showing financial statements and what month it came in and make sure it's 65,000 and make sure it comes in on time. Just leave it and renew every year

You can simplify it by transferring 67k for example and you have a whole month to send it, doesn't need to be the same day. Then there's the combo method, 400k all year and 34k+ a month, good options. But if someone hasn't got the money, try the agents, no reports of them being stopped yet

[timbota]

3 minutes ago, Scuba+ said:

5 minutes ago, timbota said:

Exactly.  
For me personally, if I cannot afford to tie up 800K then maybe I cannot afford to live here or the benefits of living here are simply not worth it to me.

If you have the monthly income whats the point in the 800k sitting there doing nothing, I'd rather have it invested

I'd rather have it invested too.   But I also like living here and being able to renew my visa each year as stress-free as possible.  This is the price that I am willing to pay.  Speaking for myself of course.

 

[Soi7]

You can simplify it by transferring 67k for example and you have a whole month to send it, doesn't need to be the same day. Then there's the combo method, 400k all year and 34k+ a month, good options. But if someone hasn't got the money, try the agents, no reports of them being stopped yet

I understand what you're saying but I don't want to dick around every month with having to go through the transfer process we're all different it works for you and that's okay I prefer to put it in the account and leave it yes one and a half percent interest is shit. The fact that it makes it trouble-free for me is worth it we're all different I think this points that out.

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[Soi7]

9 hours ago, Kahoy said:

This has probably been answered but does anybody know if Transferwise is accepted as proof of monthly deposits to a Thai bank account since it is not clear that the money came from outside Thailand although logically it must have done so.? 

This link confirms no international transfer ever takes place when using Transferwise

https://transferwise.com/help/article/1779442/basic-information/how-does-it-work-a-video-guide

[forcebwithu]

1 hour ago, Scuba+ said:

You can simplify it by transferring 67k for example and you have a whole month to send it, doesn't need to be the same day. Then there's the combo method, 400k all year and 34k+ a month, good options. But if someone hasn't got the money, try the agents, no reports of them being stopped yet

On one of the forums someone posted they were told by immigration the transfer had to occur within a day or two of the same day every month.

[Soi7]

On one of the forums someone posted they were told by immigration the transfer had to occur within a day or two of the same day every month.

I read one guy was told it had to happen on the same day just ridiculous another reason to have the money there and not have to dick with them

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[Garzan]

As a follow up, and this is from the Udon Immigration office, so maybe true elsewhere, maybe not. (TiT) Unlike some, I do have a fixed benefits pension that exceeds 65,000b each month. My pension comes from an IAT compliant source (so don't bother with the doom and gloom BS about BB service ending April 1st) that is direct depositied to Bangkok Bank in New York, New York, USA. I easily exceed the 65,000b brought into Thailand requirement. My question has always been about acceptable documentation. 

I ordered a printed statement of my Bangkok Bank account from my local branch office. This is an A4 fan-fold statement of all the activity in my account for the period requested. It cost me 200b to get, and took about a week to be delivered. My translator (wife) and I brought it to Udon Immigration, showed it to one of the senior Immigration officers and asked if it would be good enough for my August renewal. He told my wife that with the statement, and a letter from the branch manager guaranteeing the printout is accurate (why, don't know, TiT) that would be more than fine for my extension renewal. 

Now the renewal of extension is certainly a critically important document, but without going out and borrowing trouble, it does not appear like renewing is going to be any more difficult than it was last year. I'll have to visit my BB branch office, and have a chat with the branch manager, but I do that every so often anyway. I won't have to give the US Embassy $50.00 USD, or make a special trip to Bangkok because the Outreach timing is off for my certification. 

The proof of course will be August, but it does not appear like there will be much of an issue. 

[chris2004]

1 hour ago, forcebwithu said:

On one of the forums someone posted they were told by immigration the transfer had to occur within a day or two of the same day every month.

Really !! i thought the order said a receipt EVERY MONTH, not every month on say the 16th. It would be almost impossible to ensure the same day transfer every month (with bank holidays etc).

[Garzan]

5 minutes ago, chris2004 said:

Really !! i thought the order said a receipt EVERY MONTH, not every month on say the 16th. It would be almost impossible to ensure the same day transfer every month (with bank holidays etc).

Seriously impossible. My direct deposit is released every month on the 1st, back in the US. It takes a variable two to five days to get here, depending on whether or not there is a weekend involved. If the first is Thursday or Friday in the US, it will always be after Monday in Thailand before there is any chance of the deposit showing up over here. I'm not sure why Thai computers get the weekend off. :-) 

[Scuba+]

On one of the forums someone posted they were told by immigration the transfer had to occur within a day or two of the same day every month.

Just another wingnut immigration officer, its not been widely reported in fact that's the first time I've heard a specific day is required. I'm happy to ignore that

 

[Soi7]

I would guess it's incorrect as well regarding the deposit having to go in the same time every month. But the one thing I can guarantee is regardless of who you talk to an immigration everybody's going to have different rules and a different story. It's always been that way and it always will be unfortunately if only they read from the same book life would be so much easier.

[ChiFlyer]

Lots of good info in this thread. I am fortunate enough (and I busted my ass to be this lucky) that I can go the 800K in a Thai Bank method and like others have said that looks like the least painful and safest with regard to the TiT factors. I will go through my first renewal process next September, so I am keeping an eye on this.

No 90 day check-in would be nice.

With regard to BJ talking about a 10 year retiree visa, and I realize this is all speculation, I assume there will be some difference between this new visa idea and the current 10 year visa, which requires 3M in a Thai Bank if I remember correctly. That number starts moving past my "fortunate" level.

[Kahoy]

8 hours ago, Scuba+ said:

 But if someone hasn't got the money, try the agents, no reports of them being stopped yet

Let me be the first to report that a prominent agent told me they can not do the transient bank deposit or issue a residency certificate to obtain a bank account in Pattaya for the time being. I did hear second hand that some agents feel there will be no problem in the longer term.

[Kahoy]

8 hours ago, Soi7 said:

Transferwise has three partner Banks they use here in Thailand Bangkok Bank Kasikorn bank and TMB bank. Transferwise never transfers any money into Thailand their money is here in their partner Banks already they just transfer into the account that you request. That is why kasikorn and tmb transfers to a Thailand account do not show up as International because no money is actually transferred internationally. Guys were saying that Bangkok Bank transfers are hit-and-miss showing International. This information came directly from transferwise on a post in Thai Visa with communication directly from them to one of their customers. Guys that are in a position to do so should just leave the 800,000 here if they want to live here that badly. That is basically a trouble-free remedy for this.

Thanks, I use BB.

[Soi7]

1 minute ago, Kahoy said:

Thanks, I use BB.

Yes you use Bangkok Bank but they use all three and there's no guarantee which one on any particular month the transfer will come in from. It's really a crapshoot

[Kahoy]

1 minute ago, Soi7 said:

Yes you use Bangkok Bank but they use all three and there's no guarantee which one on any particular month the transfer will come in from. It's really a crapshoot

They may not require any evidence that it came from an international bank other than being a Transferwise transaction as TW can only use Thailand as a recipient country AFAIK so all transactions necessarily come from an overseas bank.

[Soi7]

1 minute ago, Kahoy said:

They may not require any evidence that it came from an international bank other than being a Transferwise transaction as TW can only use Thailand as a recipient country AFAIK so all transactions necessarily come from an overseas bank.

Check the link I posted it specifically states that no money comes from overseas. And I would be willing to bet Hard Cash that they are going to insist on the fact that came from overseas.

[Garzan]

I suspect if I were an Immigration Officer, I'd be looking specifically for foreign transfers that explicitly stated "foreign". I've never used Transferwise, so I don't know how those would show up on a statement, but foreign transfers into my account are pretty obvious on January 24th. 

[Scuba+]

Let me be the first to report that a prominent agent told me they can not do the transient bank deposit or issue a residency certificate to obtain a bank account in Pattaya for the time being. I did hear second hand that some agents feel there will be no problem in the longer term.

I got a residence certificate on a tourist visa at Jomtien yesterday so that's ok. I opened a bank account a week ago and didn't need a residence certificate