Retirement visa using lump sum heads up.

Visa questions, companies, work permits, employment, insurance, banking and finance, and legal issues.
Post Reply
Pagey
Legend
Legend
Posts: 2133
Joined: Mon Aug 30, 2004 5:14 pm
Location: On the beach

Retirement visa using lump sum heads up.

Post by Pagey »

Just posting my experience yesterday 28th, for information for others.

I'm on my 4th year retired here using non imm O visa based on retirement. I don't have a pension yet so I use the lump sum of 800k route.

Wednesday 27th I collected my letter from the bank confirming my balance at that date which agreed with my bank book and had been in excess of 800k for more than 3 months.

I arrived at imm at 8.15 and was number 6 in the queue, got called around 9.15 and presented all my documents.

The officer pointed to the last entry/withdrawal in my bank book which was Jan 7th and said I must update it. I explained I have updated it, there are no more transactions, and here's the bank letter dated yesterday verifying that balance. he said I must go to an ATM, withdraw 100 Baht, update my book, make a copy and come back. I again pointed to the bank letter confirming that balance is correct, I don't believe the bank he said. :?

I didn't have my ATM card with me which I told him was at home in Soi 94, so he said to go do what he said and come back to him, don't queue again. He was polite about it but I've never had this problem before. I thought the whole point of the bank letter was to stop people depositing 800k 3 months in advance, updating their book, and withdrawing it straight away, which I obviously hadn't done as the letter proved plus numerous other transactions in the book over the last 3 months.

So I did what he said at M Village, took it back about 11am and got my visa about 2 mins before 12. ( I did have a puncture on the way back home to get my ATM card so that delayed me a bit).

Again he was polite, also offered to do my 90 date report which was due in about 3 weeks so I accepted that offer, and told me next year to make a withdrawal the same day as the letter which I will and I recommend others do the same just as a precaution.
'If you didn't have a wasted youth you wasted your youth'

Man in pub circa 1987.
User avatar
Nereus
Hero
Hero
Posts: 10900
Joined: Tue Jan 02, 2007 3:01 pm
Location: Hua Hin and Bangkok

Re: Retirement visa using lump sum heads up.

Post by Nereus »

This crap came up previously, where those that know so much insisted that the rule is you "MUST" make a withdrawal.

The rule is the bank book balance has to have the same date as the letter. For some it may be the easiest way is to make a withdrawal to do it, but it NOT a rule that you must make a withdrawal.

It is a very simple matter to ask the bank to update the book, but if you have the funds on a term deposit, what do you do then? You cannot make a withdrawal without losing the interest if it is before the end of the term. As the funds have to be in the account fro 3 months, then it is a no-brainer to have them on a fixed term deposit, which IS acceptable without any withdrawal.
May you be in heaven half an hour before the devil know`s you`re dead!
robcar
Professional
Professional
Posts: 411
Joined: Mon Apr 28, 2014 10:28 am

Re: Retirement visa using lump sum heads up.

Post by robcar »

I did mine end of December. I have a fixed term deposit account with the 800k in as well as a normal usage account. I went to the bank (Kasikorn) the day before and updated my fixed term book and got the letter and a photocopy of the bankbook. Went to Immy next day and all was good, no withdrawal needed.
User avatar
Ratsima
Ace
Ace
Posts: 1141
Joined: Tue Apr 23, 2013 6:53 am
Location: โคราช

Re: Retirement visa using lump sum heads up.

Post by Ratsima »

When I was using the monthly income method for extension of stay I could handle Immigration on my own. Now that I'm using the bank deposit method (it's a lot cheaper) I have to have my wife come along to handle the many questions about my fixed deposit account at Kasikorn. The passbook can't be updated, even by a teller. I can't make a deposit or withdrawal.

So far, so good. But my wife's an attorney and well known at the Immigration office here in Korat.
Homer
Rock Star
Rock Star
Posts: 3336
Joined: Sun Mar 21, 2010 3:11 pm

Re: Retirement visa using lump sum heads up.

Post by Homer »

There are 3 ways prepare for doing something at immigration, IMHO. First is to do the requirements listed on the national website. Odds of success at any given immigration office are low. Second is do what has worked in the recent past at your specific immigration office. Odds of success are good. Third, is do everything any immigration office has asked for. Ever :-). Or at least the subset which is easy to do, such as making a withdrawal before getting a letter on the day you visit immigration. Odds of success are highest. Use method 2 if you're an optimist, method 3 if you hate going to immigration.
handdrummer
Addict
Addict
Posts: 5389
Joined: Mon Mar 03, 2014 11:58 am

Re: Retirement visa using lump sum heads up.

Post by handdrummer »

go to immigration and ask an officer what paper work they want for your particular visa. when it comes time for your yearly renewal go to immigration and ask an officer if there are any changes to last years requirements. online info is questionable or, as an officer tol in Bangkok told me, "it's bullshit."
handdrummer
Addict
Addict
Posts: 5389
Joined: Mon Mar 03, 2014 11:58 am

Re: Retirement visa using lump sum heads up.

Post by handdrummer »

if you've dealt with immigration before you know that the rules change from day to day and officer to officer and province to province. go early before they're pissed off. and if possible avoid the Nazi who sits at the desk to the left of the number machine.
Henry 14th
Guru
Guru
Posts: 653
Joined: Sat Aug 10, 2013 7:37 am

Post by Henry 14th »

It does make sense that if you live here then withdrawals are required to prove that you are using the funds from the account you submit.

I havnt heard from others that this has ever been a requirement but they make it so difficult in every way possible that an inactive account may one day be refused...if they so decide on that particular day.

Sent from my SM-J500G using Tapatalk
User avatar
Ratsima
Ace
Ace
Posts: 1141
Joined: Tue Apr 23, 2013 6:53 am
Location: โคราช

Re:

Post by Ratsima »

Henry 14th wrote:It does make sense that if you live here then withdrawals are required to prove that you are using the funds from the account you submit.
The point of the withdrawal was not to show that you were using the money to live on, but to make sure there was a passbook entry on the same day as the letter from the bank.
wpcoe
Professional
Professional
Posts: 473
Joined: Wed Mar 23, 2011 5:00 pm

Re: Retirement visa using lump sum heads up.

Post by wpcoe »

Ratsima wrote:When I was using the monthly income method for extension of stay I could handle Immigration on my own. Now that I'm using the bank deposit method (it's a lot cheaper) I have to have my wife come along to handle the many questions about my fixed deposit account at Kasikorn. The passbook can't be updated, even by a teller. I can't make a deposit or withdrawal.

So far, so good. But my wife's an attorney and well known at the Immigration office here in Korat.
I'm surprised they even accept a bank account where the account holder cannot make withdrawals. Do you mean you cannot make withdrawals without a penalty, or cannot make withdrawals at all?
Post Reply