Answered4 years ago
What proofs do I need to renew my retirement visa in Thailand using monthly deposits?
I will be renewing my retirement Visa for the second time and plan to use the monthly deposit of 60kB for proof of funds, as I no longer have a lump sum.
I have been depositing over 60kB to Bangkok Bank for over a year.
My question is, what proof do I need for immigration.
I have been depositing over 60kB to Bangkok Bank for over a year.
My question is, what proof do I need for immigration.
Answer summary
To renew your retirement visa using the monthly deposit method, you will need to provide proof of at least 65,000 Thai Baht being deposited into your Thai bank account monthly for the past 12 months. This requires a printout from Bangkok Bank showing these deposits, along with a letter verifying the authenticity of the statement. It's essential to maintain at least 400,000 Thai Baht in the account if you previously used the 800K method and ensure you follow the seasoning requirements from your last extension. The funds can be transferred internationally from your foreign bank account, and it is crucial that these transactions are properly recorded as international deposits to meet immigration regulations.
46 repliesnewest first
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Juthamas *************
If using Wise to transfer money from UK bank to Bangkok bank in Thailand, would it show as an international transfer? I’m interested to do monthly transfer as well.
James ********
Juthamas *************
@James *******
OK will do, could you please provide the name of the forum would be much appreciated. I’m not sure which one, thanksJuthamas *************
@James *******
cheersJames ********
@Juthamas ************
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John **********
When you say you no longer have a lump sum, did you maintain a minimum balance of 400k in your account throughout the period of your current extension?
Jim ********
OP@John *********
opsJohn **********
@Jim *******
if that's a no you didn't maintain the 400k minimum then I doubt very much whether they will give you the further extension.Tod *********
@John *********
he would have had to keep the 800K for 3 months after he got that extension and his balance needs to be at least 400K baht until he applies for the next extension using monthly income 😕James ********
@John *********
very important question...
Mark *************
This 65k a month does this have to be paid in from a company or can I just transfer the 65k from my uk bank to Thailand bank . Surely anyone would be spending 65k a month so can’t see why anyone would want to leave 800k in a Thai bank or am I miss understanding how this works .
Mikkel *******
@Mark ************
it has to be an international transfer, and marked as such in your bankbook. It has to be transferred each and every month to an account in your name only. Where they originate from (company/pension/savings/etc) is of no importance, as long as they are transfered internationally each time.Everyones situation is different.
There can be many reasons why someone choose the 800K in the bank, or monthly transfers.
Many live on way less than 65K a month, some might not have 65K a month to transfer, others just find it easier to keep the 800K in the bank here.. As they say.. Up to you..
Bobby ********
@Mikkel ******
The 800k method is a total misuse of money. You don't ever see it again as long as you stay in Thailand. I need 45-50 a month to live anyway, so jacking it up to 65 is no big deal. And it's mine to spend as soon as I get itMark *************
@Bobby *******
this is what I was thinking why leave that much money in a account . I will be spending more than 65k a month as I’m not buying but will be renting so I would rather do the 65k a month method . Maybe do the 800k first year then just change after that to the other method . Thanks for your reply everyone I’m totally new to this but hoping to move there July sometime.James ********
@Mark ************
it must be transferred internationally from your foreign bank to your Thai bank account in your name ONLY..And must be CODED as received from your Bank account in your home country to your Thai bank account.
Mark *************
@James *******
ah ok is that because it’s better to go through transfer wise or someone like that for better exchange rate so be better off with the 800k in the account ?James ********
@Mark ************
transfer wise (now is WISE) is a good source of helpful information about the international deposits to your Thai bank account. They can advise you. The CODING is critical. Follow their WISE forum on Facebook.Tod *********
Keep in mind IF you used banked money last time (the 800K baht) you need to have kept it in the account for 3 months after you got the extension issued AND then the balance couldn't go below 400K baht the rest of the year EVEN though you will be using monthly income for this extension you have to keep following the rules for the last one where you used banked money
Tod *********
@Jim *******
check your message requests, I messaged you
Jennifer ******
@Tod ********
so the last of the 400k can't be withdrawn till after the new renewal has been done?Tod *********
@Jennifer *****
CORRECT because last years extension was via banked money and the seasoning requirements for it were 800K baht 2 months before you apply, kept in for 3 months after you receive the extension and then can't fall below 400k the rest of the yearJennifer ******
@Tod ********
thanks heaps.Tod *********
going from having used banked money method on the last extension to monthly income on the up coming extension means you need to meet BOTH extensions requirements (the seasoning requirements on the current one) and the monthly income requirements on the up coming.
Daniel *********
@Tod ********
For the second year extension if you have put at least *****
baht monthly into the account, does that need to remain untouched or can you use it after it has been deposited?Daniel *********
@Tod ********
thanksTod *********
@Daniel ********
you can use it as soon as it hits the account,
Chris ********
@Tod ********
do you have to maintain that 400k every year to renew any immigration visa ?Mikkel *******
You write 60K. I am pretty sure the requirement is 65K.
Bobby ********
@Jon *******
There's no correlation between the 65k/month or the 800k. The difference is the 65k belongs to you exclusively to spend how you want. The 800k just sits in the bank gathering dust. It's a no-brainer
Jon ********
@Bobby *******
whatever, they both get you a retirement Visa and are different amounts.Bobby ********
@Jon *******
Correct. Two totally different processes.Jon ********
@Mikkel ******
I always wondered why 65k a month is only 780 k annually but you need 800k in the bank.Bobby ********
J refer@on Warner Biggest difference is you can spend the 65k as soon as you get it. The 800 is almost untouchable
Jon ********
@Bobby *******
you miss the point, 780,000 is not 800,000.Mikkel *******
@Jon *******
good question. I don't have a clue what the answer to that is.Jim ********
OP@Mikkel ******
yes I found out but not a problemMikkel *******
@Jim *******
okay 👍 So that means you have either transfered at least 65K each and every month, or are using the combination method. Whatever you are doing, it's at least good that you are aware that it's not just 60K alone each month.
Ursula *********
@Mikkel ******
I've been looking for someone to mention the combination method - so, it does (still) exist?
Ian *********
To order a statement from Bangkok Bank, it takes up to 10 days. You need a letter with it certifying it's authenticity. When you order arrange the letter. They understand Immigrations requirements. 600 baht from memory.
Ian *********
@Jennifer *****
can you confirm that it is accepted by immigration. Its only been available about 1 monthJennifer ******
@Ian ********
I haven't, but will do. I only found about the service the other day.
George *******
@Ian ********
last time cost me 200 for the two letters.James ********
You will need a printout from your Thai bank showing the international deposits made to your account for the prior 12 months.
James ********
FIRST...the amount of required to be transferred to your Thai bank account in your name only is 65,000 Thai baht monthly or more for the prior 12 months.
Jim ********
OP@James *******
thank you I haveJames ********
@Jim *******
with that then you are set to apply for the one year extension of stay as retired.Be sure to ask your Thai immigration office of their requirements. As may have varied from others.
The key to proof will be how the international deposits are CODED by your bank on receipt.
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