Answered2 years ago
What should I consider when transferring funds for my retirement visa extension in Thailand after moving banks?
Hi
I have a BBL account in Pattaya and have now moved to Khon Kaen and had to open a new BBL account there.
Now I have 2 bank books.
At the bank they said that I can show both bank books when I extend my retirement visa for the second time.
I want to transfer the entire 800k to the new bank account.
When should that be (I would like to do it now)?
Do I still have to show the bank documents from the old bank in Pattaya (if the bank account is near empty) when I extend my visa for the 1 year (it won't be easy logistically to do everything on the same day)?
I won't be a tax resident until 2025.
Is there anything to consider regarding taxes regarding the timing of the transfer of the 800k from the old to the new bank?
TIA
I have a BBL account in Pattaya and have now moved to Khon Kaen and had to open a new BBL account there.
Now I have 2 bank books.
At the bank they said that I can show both bank books when I extend my retirement visa for the second time.
I want to transfer the entire 800k to the new bank account.
When should that be (I would like to do it now)?
Do I still have to show the bank documents from the old bank in Pattaya (if the bank account is near empty) when I extend my visa for the 1 year (it won't be easy logistically to do everything on the same day)?
I won't be a tax resident until 2025.
Is there anything to consider regarding taxes regarding the timing of the transfer of the 800k from the old to the new bank?
TIA
Answer summary
An expat questions the timing and documentation for transferring 800,000 THB from a bank account in Pattaya to a new account in Khon Kaen for the purpose of extending a retirement visa. They seek advice on whether they need to present documents from both bank accounts during the process, and inquire about potential tax implications since they won't be a tax resident until 2025. Community comments suggest that transferring funds should be done well ahead of the visa extension application, and all funds should be kept in one account to avoid complications with immigration.
31 repliesnewest first
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Kenneth *******
Think before you do.
Tim ******
OP@Kenneth ******
I can assure you that everything I do is well thought out. So what's your point?Kenneth *******
Did you ask Immigration?
Kenneth *******
You waited far too long. They do have telephones. // // It cost me B5000 to learn.
Tim ******
OP@Kenneth ******
I will go to the Immigration 100km away as soon as I can.But I thought I would ask first here in the group. Maybe someone was in the same situation and can answer me.
What do you think topic-related Facebook groups are for?
Rod *********
The funds must be in only 1 account only for immigration. You cannot show multible accounts. On one of my extensions I was 6000bt short so I had the letter from my bank showing another account to show I had the funds in a Thai bank for 3 months and was refused and was given a 60 day extension to visit family and have the correct amount in 1 account. That cost 1900 bt for the ext too. You need 2 letters from the bank 1. Funds 2. Statements. And copy of bank book. All IO offices have diffent rules. When near borders they are more strict.
Tim ******
OP@Rod ********
Was this at Immigration in Khon Kaen? The branch in Khon Kaen said I must show both bank books at immigration Khon Kaen for my second extension.I will go and ask them. But I live 100km from Khon Kaen 😅
Charlie *********
Brazilian Butt Lift account?
Johnnie ********
I opened a BKK account earlier this year in Pattaya, no problem on tourist visa. Now I’m living in Surin and they won’t open an acc on T/V.
Bit of a bummer
Bit of a bummer
Peter *******
If the transfer settles the same day it's no issue, i did 400k checked it then another 400k within a couple minutes. The 400k was in case it didn't settle the remaining 400k was within the limit at the time. You'll need passbook or statements for both accounts
Nick ************
My Krungsri account is in Sakhon Nakhon but I have no problems getting the documents required from the branch in Nakhon Phanom. I beleive Bangkok bank makes it a bit more complicated.
Henrik *****
Yee longer yee better to have the money in the account you want to show immigration.
Transfering excactly at the requireded time before extending, may lift a eyebrow.
Transfering excactly at the requireded time before extending, may lift a eyebrow.
Stuart ***********
Why did you open a new account, it seems very complicated and risky?
Tim ******
OP@Stuart **********
I don't want to go every year to Pattaya for the bank papers.And BBL in KK doesn't accept the BBL account in Pattaya.
So I only have the choice of opening a new account.
Kim *********
@Tim *****
very strangeStuart ***********
@Tim *****
yes that would be a pain. They are just being awkward, they can provide the papers easily for you, as I said when I moved from Hua Hin to Sriracha I asked them to transfer my account and they said they couldn't, so I asked them for the documents for immigration and they gave me them immediately, so it's definitely possible, but TiT.Stuart ***********
@Tim *****
you are welcome, good luck.Tim ******
OP@Stuart **********
thank youStuart ***********
@Tim *****
BBL in Sriracha did all that for me when my branch is in Hua Hin, so what is the difference?It is the same bank, just different branches.
Tim ******
OP@Stuart **********
Do you mean BBL in KK can update the bank book from BBL Pattaya and give me a bank letter from BBL Pattaya?
Bobby *******
@Stuart **********
can be a challenge to get the bank documents required for immigration in pattaya when he is in Issa’sKim *********
@Bobby ******
I had absolutely no problems with getting the required documents from BKK branch in Udon Thani - my account was opened in Pattaya.Kim *********
@Bobby ******
boy 😂Bobby *******
@Kim ********
ok my uncle lived to 110 and smoked 4 packs of cigarettes a day. Your mileage might vary boyStuart ***********
@Bobby ******
do you mean Isaan?Because of the distance?
I have moved province twice and retained the same bank account. The bank in my new province issued the required documents without hesitation.
Did they ask if this is possible?
TiT, so I am not saying it will be the same everywhere.
Bobby *******
@Stuart **********
that’s the main reason I can guess. Some documents from Bangkok bank for example remittance advice can only come from the home branch I was told
Terry **********
Don't know wether you are aware but if you keep the other account open from pattaya you will pay annual fees. When you have transferred all money to kk account just leave the other account open with zero balance. After 6 months th bank will automatically close that account down. It can be a pain trying to close it yourself. Let them do it, won't cost you then
Peter *******
As long as you have the App - or web site - set up, it is very easy to transfer all your Pattaya money to your KK account
Tim ******
OP@Peter ******
This was not the point I was asking for.
Graham ******
You can transfer anytime up to two months before your next extension application as banked funds do not need to be from an international transfer for an Extension of Stay based on retirement. To meet the requirements for your current extension you will need to show that your old account was at 800k for three months after your extension was approved then never dropped below 400k up to the point you transferred to your new account. One thing to note, make sure the transfers between accounts occur instantly i.e. there is no delay where your original account could show as less than 400k (or keep 400k there if you canuntil the new extension application is submitted).
Tim ******
OP@Graham *****
Thank you.This is what I interpret from this:
3 months after receiving the non-o retirement visa extension I can transfer 400k, or 800k, or even everything to the new account.
After that I go to the BBL Pattaya and have the bank book updated to prove that I had 800k in it for 3 months.
For the second retirement extension I go to the BBL KK on the day I go to the immigration office and have the bank book updated and ask for a bank letter.
Then I go to the KK immigration office and show both bank books and the bank letter from the BBL KK to prove that I have 800k in my Thai accounts.
For the third visa extension I no longer need the old BBL account.
Is everything I have interpreted correct?
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