65,000 per month baht retirement visa requirement - review

[Gaybutton]

I'm probably wrong, but I seem to recall, years ago, that it is allowable to use a combination of both methods somehow. I'm not sure such an option ever actually existed or how it worked. My guess is if it used to be allowable, now it no longer is.

However, if one uses Wise, as I and many others do, it may become necessary to get a CA Report.

If you log in to Wise, then click on your name at the top right of the screen, then click on "Statements and Reports", you can download the information. I'd like you, or someone in the know, to take a look at that and let us know if immigration is likely to accept that.

[Dodger]

I'm probably wrong, but I seem to recall, years ago, that it is allowable to use a combination of both methods somehow. I'm not sure such an option ever actually existed or how it worked. My guess is if it used to be allowable, now it no longer is.

I remember asking this question directly to Chonburi Immigration back in 2018 and I was told that they don't accept combinations. This of course was contrary to the new visa requirements that were posted on-line, but anyway this is what I was told.

This being Thailand, things may have changed since then.

I agree with a remark that Jun made..."that they want to make this as difficult as possible so more people will start using the agents."

Before ever coming to Thailand I thought the term "Amazing Thailand" reflected things like golden temples, the mai pen rai atmosphere created by Buddhism, and the exotic offerings, but after moving here I came to realize that "Amazing" more accurately reflects all those things that make it to our "I don't get it" lists.

[2lz2p]

I use the 800,000 method and I question how to transition to the 65,000 monthly method……as I read it only after finishing the 12 month of 65,000 deposits can you use your 800,000.

From what I understand all you need to do is provide Immigration with your bank book & bank letter showing that you've received 65k or more for the last 12 consecutive months in order to renew your visa extension using the 65k method. Unless I'm mistaking, it doesn't matter which method you used the previous year.

I think where some people get in trouble is when they think they can switch from the 800k method to the 65k method before they have actually received the required 12 consecutive foreign deposits in their Thai bank account. If that makes sense.

Conversely, if someone wanted to switch from the 65k method to the 800k method they would have to show proof that the 800k minimum was in their Thai bank account for the required amount of time.

If it were me, and I was transferring from the 800k method to the 65k method I would make sure that the 800,000 THB remained in my Thai bank account until after the new visa was in my hands. So you might have to hold off on buying 6 more motorbikes for a few days...

I agree with your understanding. It is most likely Immigration will expect you to have kept at least 800k for 3 months after the previous application and 400k as a minimum for the next 7 months - a need to bring it back to 800k for the 2 months preceding the application for renewal using the 65k monthly income may not be necessary, but if it was me, I would do so just to avoid any problems. You will still have to show you transferred at least 65k in each of the preceding 12 months from a foreign source into your bank account.

One advantage of using the 65k per month is that you can spend it unlike the 800k in the bank method which requires at least that amount remain in the bank for the 3 months after renewal and 2 months before the next renewal, but never letting it fall below 400k in the intervening 7 months.

As mentioned, a disadvantage may be changes in the exchange rate, especially if your ability to transfer the 65k monthly can be affected by changes in the rate. In my case, my pension is more than sufficient for any likely changes to have any impact.

I use Wise to transfer a bit over 65k at the beginning of the month. If no problem, e.g., Wise sends it through Kasikorn causing my Bangkok Bank account to show it as a domestic transfer, I then send the additional funds I may need through Wise. BUT, if there is a problem, I will make a 2nd transfer using Bangkok Bank NY Branch's Baht Remittance Service. This is not the old method of using ACH transfers through the NY Branch - it is a separate system which still has the same fees and although the NY Branch converts to baht before transfer, they use the same onshore rates used by Bangkok Bank in Thailand. The Pattaya City Expats Club has information on this method at: https://pcec.club/BangkokBankNY. I have used this system once, it worked fine, but took about 11 days from sending money by check using snail mail till the funds were deposited in my Bangkok Bank account.

For those using the 800k, I would suggest keeping it in an account separate from the one used for everyday living expenses. Over the years, I have seen reports too often of how someone using this method "accidentally" withdrew a small mount, but caused it to drop below the threshold or their spouse/partner having access to their debit card paid for something that had the same result. In those cases, about the only option to renew their retirement extension is to use an Agent and paying their fee.

[2lz2p]

I remember asking this question directly to Chonburi Immigration back in 2018 and I was told that they don't accept combinations. This of course was contrary to the new visa requirements that were posted on-line, but anyway this is what I was told.

Things have changed. Although few and far between, I have seen a few reports in recent years that the combination method was accepted at Chonburi (Pattaya) Immigration. They don't like it because it requires a bit of work to make the necessary computations.

The Immigration Rules are not too clear and could be inferred to require a minimum of 400k be on deposit in the bank when using this method (in the few reports I saw, the person(s) doing it apparently had at least that amount on deposit, but it could be an issue).

The monthly income will need to be sufficient that when multiplied by 12 months and added to the bank deposit, the amount is equal to or greater than 800k.

[Gaybutton]

They don't like it because it requires a bit of work to make the necessary computations.

I have a calculator they can borrow, but that would require them figuring out how to use it . . .

Obviously the safest thing to do is stick with the methods we know they accept. If you try other methods, even if you know legally you are correct and can prove it, go ahead. Try arguing with them if they tell you they won't accept it. I think most of us are well aware of just where that will get you.