Income Letter

[mak]

Good info OG. Although not official, it would be wise to prepare for the worst. i.e. 800k or 400k.

[Lone Star]

Good info OG. Although not official, it would be wise to prepare for the worst. i.e. 800k or 400k.

Thanks for the info, Old Grumpy.

Agree that the total in the bank book appears to be the safest route at this time.

Side Note: I was talking to a friend who uses the IO in Nakhon Sawan. He has always used the bank book route and said that his IO allows a 5 day window for bank verification letters. It would be nice if all the IOs did something similar instead of requiring same day letters.

[saint]

There is no reason why you cannot get the letter a few days in advance and just get an A T M slip with balance on , on the day . I mean we are now well into the 21st century , but , and there is always a but , T I T.

[Lone Star]

There is no reason why you cannot get the letter a few days in advance and just get an A T M slip with balance on , on the day . I mean we are now well into the 21st century , but , and there is always a but , T I T.

I plan to check on that with UTH IO before I pull the trigger. Makes sense, but as you said TIT.

[tamada]

There is no reason why you cannot get the letter a few days in advance and just get an A T M slip with balance on , on the day . I mean we are now well into the 21st century , but , and there is always a but , T I T.

I plan to check on that with UTH IO before I pull the trigger. Makes sense, but as you said TIT.

Sound idea. And also ask if the IO who has given you their latest 'opinion' will also be on duty in the office when you come by a few days later to actually do the deed.

You know it makes sense.

[Manxlad]

Hi guys
Called into udon immigration office yesterday to ask exactly this question
Officer on the 90 day desk said.....the bank letter has to be obtained from the bank along with that days made up bank book on the day of submission of application for extension of stay
They will not accept it if not on the exact day!
He also said you need to check with your bank as most now require 24 hr notice for the letter
Hope this helps

[Lone Star]

There is no reason why you cannot get the letter a few days in advance and just get an A T M slip with balance on , on the day . I mean we are now well into the 21st century , but , and there is always a but , T I T.

I plan to check on that with UTH IO before I pull the trigger. Makes sense, but as you said TIT.

Sound idea. And also ask if the IO who has given you their latest 'opinion' will also be on duty in the office when you come by a few days later to actually do the deed.

You know it makes sense.

Yep. I plan to handle my transaction with the same IO. The ONLY way it makes sense.

[vidmaster]

Can you renew with TM7 up to 30 days before current Visa expires ?
Thanks

[Lone Star]

Can you renew with TM7 up to 30 days before current Visa expires ?
Thanks

I've done it within 30 days every year for at least the last 6 or 7. No problem, but TIT. Check with IO and be sure.

[vidmaster]

Many thanks

[Brian Davis]

.......Officer on the 90 day desk said.....the bank letter has to be obtained from the bank along with that days made up bank book on the day of submission of application for extension of stay
They will not accept it if not on the exact day!

Point No 7 on the information leaflet on retirement visa extension available at Immigration includes "Bank statement should be made the same day as application for visa extension submitted."

[Hunter58]

For information.
I renewed my retirement visa last week. This is my fifth year renewal.
I use the 800k in account option.
Each time I get my bank book updated and the bank letter on the day prior to application.
I stop at ATM on morning of application and get balance slip.

No issues with application at Immigration.
In and out in 15 minutes.

[Lone Star]

For information.
I renewed my retirement visa last week. This is my fifth year renewal.
I use the 800k in account option.
Each time I get my bank book updated and the bank letter on the day prior to application.
I stop at ATM on morning of application and get balance slip.

No issues with application at Immigration.
In and out in 15 minutes.

Very helpful info, Hunter 58!

[RLTrader]

Useful info from Thaivisa:

If you have a US SSA direct deposit, the FIRST CONCERN is to find out if you are set up for IAT format or not. The easy way is to go direct to your Bangkok Bank branch. Have them pull up your accounts on their computer, then pull up the most recent direct deposit transaction. They can then pull up details of that transaction. On the details page look on the right had side toward the middle of the page, there are some codes. If you see IAT-Th, then you are OK. Your direct deposit is in the correct format and will continue as normal after April 1, 2019. Not all SSA direct deposits are in IAT format. Apparently some direct deposits were set up incorrectly (see preceding post) so you may not be OK. Your best recourse would be as per the above post and call SSA Baltimore. I have talked with SSA in Manilla and they won't even bother to check what the format is, let alone assist with correcting it. Bangkok Bank New York also will only tell you to talk to SSA and not even check your format for you.

Being that a transfer came in on the 3rd went to BB today.
Women knows nothing about any of this. Got 3 different printouts, 12/3 11/2 10/3 and see nothing that looks like IAT or ACH in middle right or anywhere else.

She wants me to bring in the 1st bank book so will do that tomorrow. But see no difference. This deposit comes from SAA > BB NY > BB Udon for they are all on the printout.

I should ad that she asked me where I heard this and I said someone told me, she said Who?, I said that I saw it on the InterNet, she laughed.

[semperfiguy]

Useful info from Thaivisa:

If you have a US SSA direct deposit, the FIRST CONCERN is to find out if you are set up for IAT format or not. The easy way is to go direct to your Bangkok Bank branch. Have them pull up your accounts on their computer, then pull up the most recent direct deposit transaction. They can then pull up details of that transaction. On the details page look on the right had side toward the middle of the page, there are some codes. If you see IAT-Th, then you are OK. Your direct deposit is in the correct format and will continue as normal after April 1, 2019. Not all SSA direct deposits are in IAT format. Apparently some direct deposits were set up incorrectly (see preceding post) so you may not be OK. Your best recourse would be as per the above post and call SSA Baltimore. I have talked with SSA in Manilla and they won't even bother to check what the format is, let alone assist with correcting it. Bangkok Bank New York also will only tell you to talk to SSA and not even check your format for you.

Being that a transfer came in on the 3rd went to BB today.
Women knows nothing about any of this. Got 3 different printouts, 12/3 11/2 10/3 and see nothing that looks like IAT or ACH in middle right or anywhere else.

She wants me to bring in the 1st bank book so will do that tomorrow. But see no difference. This deposit comes from SAA > BB NY > BB Udon for they are all on the printout.

I should ad that she asked me where I heard this and I said someone told me, she said Who?, I said that I saw it on the InterNet, she laughed.

In October I sent $15T from my credit union account in the US through BKB, NY to Udon Thani by way of the US ACH system with specific instruction to conform to the IAT Format. When the money hit BKB Headquarters in BKK I got a Payment Notification by email, then a few hours later when the money hit my local branch I got a Credit/Advice Receipt by email as well. On both of those forms under Details of Payment it clearly states that it was sent by IAT.

I don't have my SS payment sent here so I don't know if these types of emails are sent out to those that receive their SS payments here, but I would think that if you are set up to receive notifications by email, then you should be getting those with any kind of inward remittance to your account. You can ask for those receipts at the bank and they will give them to you, then you can see if it is sent by IAT.

[RLTrader]

Have no email Notification, don't see the need, don't know if they offer that service, its a "Deposit Only" account. Had asked if I had online banking, if I could transfer out to my other account, answer was No, need to go in and show Bank book and Passport, so I just update my bank book on the day after it should have arrived. Never a problem.

Not sure what you are talking about, I got print outs of the last 3 transactions and I see nothing that shows how it got here. IAT or ACH
Of course its printed on blank paper, so no headings of what the Gobbledygook is

Even thou maybe 40 years ago work on the design and install of a million + dollar wire transfer system for Chemical Bank NY which was later sold to other Banks in US and Canada. What I see with the printouts I got look to have been done 80 years ago before computers. Goes to show how bad today's software is. end rant

Oh, just looked at printout again and spotted

SNCCY:USD SNAMT ****** RCCCY RCAMT
------------------------ ACH CONTRA AC

The "ACH CONTRA AC" is in the middle of page maybe 1/4 down and only thing on that line

Will show her tomorrow and maybe she can explain what it is.

[Giggle]

I don't understand why it has to be so difficult.

I have one bank in the US. I have one bank in Thailand. All my US income goes into my US bank. Once a year, I make a large single international transfer that will get me through the coming year. I pay one transfer fee (about $60) annually. Next year I will buy a new car, so I will likely make 2 transfers that year. Keep it simple.

I hear stories about people who survive on weekly or monthly ATM withdrawals from foreign banks or monthly transfers. These folks must get hammered in fees. They get wound up in chasing favorable exchange rates when they're bleeding out in bank fees.

I understand dollar-cost averaging and know that my single annual transfer might not come at the best time, but over a decade or two it will all average out. The worry and angst in dealing with availability and holidays and time zones is not worth the few hundred (or thousand) baht you might save in keeping your money abroad. If you intend on living here for a long time, open a Thai bank account, move 50 percent of your savings here, and never have to worry about exchange rates again. When you get poorer in one currency, you get richer in the other. This is a good example of when diversification has actual utility.

If it shits you that you get a crappy interest rate being a foreign account holder in a Thai bank, put your 800k into a joint account with your thai wife for 8 months and transfer it to a single account 4 months before visa extension -- then move it back. Personally, I can't be bothered for the few hundred baht difference. Don't make it harder than it needs to be.

[Stantheman]

$60 fee Giggles, does that include the cut the Thai bank takes or is that just the fee you pay from U.S. bank?

[Giggle]

Save your cents and the next year you'll get it for $30 (1,000 baht) Crikey there's some cheapskates around here.

[RLTrader]

Have no email Notification, don't see the need, don't know if they offer that service, its a "Deposit Only" account. Had asked if I had online banking, if I could transfer out to my other account, answer was No, need to go in and show Bank book and Passport, so I just update my bank book on the day after it should have arrived. Never a problem.

Not sure what you are talking about, I got print outs of the last 3 transactions and I see nothing that shows how it got here. IAT or ACH
Of course its printed on blank paper, so no headings of what the Gobbledygook is

Even thou maybe 40 years ago work on the design and install of a million + dollar wire transfer system for Chemical Bank NY which was later sold to other Banks in US and Canada. What I see with the printouts I got look to have been done 80 years ago before computers. Goes to show how bad today's software is. end rant

Oh, just looked at printout again and spotted

SNCCY:USD SNAMT ****** RCCCY RCAMT
------------------------ ACH CONTRA AC

The "ACH CONTRA AC" is in the middle of page maybe 1/4 down and only thing on that line

Will show her tomorrow and maybe she can explain what it is.

Just found this on the Bangkok Bank NY web site
might be of interest to some?
Have printed in english and thai and will bring to bank today.
https://www.bangkokbank.com/en/Personal ... ork-branch

web page gives 3 options I clicked on #2

Advice to Bangkok Bank customers receiving payments from US government agencies or private organizations (Direct Deposit)

The US Treasury Department has ceased issuing paper cheques for the payment of Federal retirement benefits such as pensions, annuities or payroll, including Social Security and Veterans Affairs payments, and now requires direct deposit of your benefit into your bank account. You will therefore need to notify the US government agency providing your Federal benefit how you wish to receive payments.

As Bangkok Bank is the only provider in Thailand offering a direct deposit services into a Thai bank account, you can ask the relevant US government agency to route your payments into your Bangkok Bank account via Bangkok Bank’s New York branch. If you reside in Thailand, you can apply for the service in person at any Bangkok Bank branch (except for micro branches).

Since your transactions are transmitted to us as an ACH transaction and process the bank is required to comply with the rules and formats developed by the Electronic Payments Association (NACHA). The International ACH (IAT) is a special code (a Standard Entry Class or “SEC Code”) for ACH payments that enables financial institutions such as Bangkok Bank to identify and monitor international ACH payments and to screen them in compliance with Office of Foreign Assets Control (OFAC) requirements. The NACHA rules require Bangkok Bank’s New York branch, which serves as an intermediary, to ensure that payments that we receive and that are transmitted to the account of a beneficiary in another country are appropriately classified as IATs. To do this we need to obtain information as described below to the relevant US government agency to your transactions in the IAT format.

Important Note
1.Your name and physical address in Thailand;
2.Your bank account number and the name and address of your Bangkok Bank branch in Thailand; and
3.The 9-digit routing number of Bangkok Bank New York branch, which acts as the intermediary in the transaction, which is 026008691

Effective from April 1, 2019, Bangkok Bank, New York branch will fully comply with the NACHA rules and will return all ACH received which do not comply with the IAT format.

If you wish to enquire more information, please contact Bangkok Bank, New York on (1-212) 422-8200 or E-mail: [email protected]