ATTN MEMBERS: Seasoning on funds for banked money method for second year "retirement" extensions after using banked money the previous year
This question comes up a lot.
"๐ช๐ต๐ ๐ฑ๐ผ๐ฒ๐ ๐บ๐ ๐ผ๐ณ๐ณ๐ถ๐ฐ๐ฒ ๐๐ฎ๐ป๐ ๐ฎ ๐๐ฒ๐ฎ๐ฟ ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐ฑ๐ฒ๐๐ฎ๐ถ๐น ๐๐๐ฎ๐๐ฒ๐บ๐ฒ๐ป๐ ๐๐ต๐ฒ๐ป ๐ ๐ฎ๐ฝ๐ฝ๐น๐ ๐ณ๐ผ๐ฟ ๐ฎ ๐ป๐ฒ๐
๐ ๐๐ฒ๐ฎ๐ฟ๐น๐ '๐ฟ๐ฒ๐๐ถ๐ฟ๐ฒ๐บ๐ฒ๐ป๐' ๐ฒ๐
๐๐ฒ๐ป๐๐ถ๐ผ๐ป ๐๐๐ถ๐ป๐ด ๐ฏ๐ฎ๐ป๐ธ๐ฒ๐ฑ ๐บ๐ผ๐ป๐ฒ๐ ๐บ๐ฒ๐๐ต๐ผ๐ฑ?
The reason for this IS
IF you're currently on a year extension based on retirement now where you used banked money method last year, you were required by immigration rules to keep the 800k baht balance IN your account for 3 months after the yearly extension was granted and then the balance couldn't go below 400K baht the rest of the year (until 2 months before you apply for this new extension you brought the balance back up to 800K).
Now seeing as most people don't update their thai bank books all that often or all that regularly, when you finally get around to doing it, all it will print is a summary of funds in and funds out with a date range <- which doesn't show to the immigration office that you met the financial requirements last year (for the extension you're currently on now).
So to show that to them you get that year detail transaction print out. (This is in addition to the 'standard' bank letter AND updating your bank book on the date you apply for the new extension)
Keep in mind, some banks can print that year transaction detail on request, but some banks can take 5 to 7 days to get it for you. So if you think you might need it, stop in to your bank well before you're going to ask for it and see what their lead time is
Once you do get that print out It shows every transaction thru that account broken down by month for the previous year, with a balance printed for every transaction.
That way it shows immigrations if you failed to hold up your end of the deal when using banked money method for your extension last year and the coming one you're going to apply for this year
This is not a new rule, it is something immigrations came up with to see IF you met the seasoning requirements for the banked money method for the extension you're and for the new one you will apply for
The only times I've seen them NOT require it is if someone uses a "fixed/term" account where the funds stay in the bank all the time. They can and often will waive that report for that type of accounts
Hope this cleared it up some sorry it was long
TLDR : Answer Summary
The request for a yearly transaction detail statement by immigration when applying for a retirement extension using the banked money method is to confirm compliance with financial requirements. Specifically, if you used the banked money method the previous year, you were mandated to maintain a balance of 800K baht for three months after your extension was granted and not dip below 400K baht for the rest of the year. To verify this, the statement detailing all transactions is needed to demonstrate adherence to these rules, especially if your bank account balances are not regularly updated. Although some banks can provide this statement quickly, others may take longer, so planning ahead is recommended.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
