My O-A Retirement Visa

[wallyc 0]

I now have my Thai Non-Immigrant O-A Visa for the purpose of Retirement. I followed the instructions I found on ThaiVisa and here on PattayaPages. Many thanks to Lopburi3 (ThaiVisa) and JoeKicker (PattayaPages) who insists that you enter Thailand with a Visa obtained from a Thai Consulate. I have been planning the move for almost 2 years and have been reading everything I could find relating to Visas. ThaiVisa and PattayaPages were the best sources of information for me. Many thanks to all that posted their experiences and opinions. Should also thank Owen for pointers on financial matters. And the 2 Expatriate Clubs in Pattaya.

 

So here is the story:

 

I am single, 66 and retiring this year (Dec 28, 2007).

 

Applied for US Social Security at the end of September. Needed to be 65 and 8 months to qualify for full benefits ( quailified in July and still working. The last 6 months of 2007 earned extra credits for me and I am still paying into the system until Dec 28th). Actual interview was scheduled for early October. That meeting set the amount I would receive and when the payments would start. Selected direct deposit in my USA bank account. The first scheduled check would not be enough for me to apply on a income only basis for my Visa. The future checks would be adjusted higher in consideration of my payments in 2007, the extra months of working and cost of living increase due for 2007. Final adjustments to be completed the middle of 2008 and the final amount will be much more than needed to qualify for my Visa with income only.

 

Had been reading the Thai Consulate instructions every month or so for over a year. Started to understand what was needed ( and not needed ) with the help of reading the various forums - ThaiVisa and PattayaPages ... Retirement Visa ?? .. Non-Immigrant Visa ?? ... Type O ?? .. Type O-A ??.... Convert Tourist Visa to Non-Immigrant O... then apply for Retirement Visa ??

 

When it came time for me to assemble all of the forms I was still confused about 'income + bank statements'. Called my savings bank and asked for a letter of balance verification and was told they did not do that except in response to a request by the entity making the request. WTF ... So I asked for an official bank statement on their letterhead. That was OK with them - turned to be a just bank statement on their letterhead - I thought I would get something a little more 'official' than that - but I got what I asked for .. didn't know what to do after that *WTF* response. I needed the statement because I was going to use the 'income + bank balance' method for the Visa application.

 

My Social Security 'Award Letter' arrived showing the amount of the check I would receive and all future payments (did not mention any future adjustments, I was told they would send "Award Letters" when the adjustments were made). I would use this letter and my bank statement for my Visa application.

 

Had no clue how to find my police records. Don't remember ever being arrested. Local police department told me to go to the California Justice Department. Found their web site, found the section about obtaining a police report. Found the section about fingerprinting. There are 5 or 6 choices. Local governemt agencies and secuirty companies. Called a School Police Dept. office and they told me to go away, we are employment only - another WTF - so I called the private security company. "Sure come on over and bring $52 US". So I did. I thought I would have ink stained fingers, had no clue it was all done electronically. They said it would 2 to 6 weeks for a result to be mailed to me - depending on how much of a record I had. Got the result in 3 days -- "No record"

 

Called my physician for an appointment. Need a blood test for all the stuff I don't have, well don't think I have. Gave him the Thai Consulate form, half written in Thai. Had the blood test a few days later, he had the form filled in and ready for me to pick-up the next week. Lucky for me my insurance company paid for all of it less my co-pay -- looked to be around $400 for the lab not counting his office visit fee. And I passed all the tests ...

 

Filled in the Visa application form, using the 'income + bank statement' method. Hoping the "Bank Statement" letter would be accepted.

 

Had all the necessary forms notarized. Had all the copies made and assembled with the cooresponding forms, photos included. Ready to go. Went to the bank the next day for the cashier-check/money order. Thought the total was $25 for the forms processing and $60 for the Visa, so made the check for $85. Stopped by my mail box and here was another letter from Soc. Security. It was a new Award Letter. This was showing an up-dated amount, showing consideration for 2007 employment and the new amount was more than enough to qualify on income alone.

 

I re-did the Visa applictation form and had that one notarized. I included a note attached to the bank statement that I was including this information if they need it ..

 

I already had an express mail envelope. Included all the forms and my Passport + copies. Had the Post Office issue a $16.25 stamp ( requested by the Thai Consulate ) and attached a return express mail envelope. This was on Dec 3, 2007.

 

Ten days later I have my Passport with a new Thai Visa. Non-Immigant O-A , Retirement. And they returned $25 for overpayment. Total is $ 60 for everything ..

 

Was in Chiang Mai, 11/2006 and tried to open a Bangkok Bank savings account. Failed at two branches. No Visa, only 30 days using my Passport. When I was in Pattaya 5/2007 I tried again and this time it worked !! Bangkok Bank, 2nd Rd - they needed - I think it was called - Certificate of Residence. Had to go to Immigration and argue for the form .. they did not want to issue the form, told the lady I needed it to establish an account so I could apply for a Visa. I used the '3 month bank balance' requirement as why I needed the account. She finally said OK. Now I can transfer funds to that account from my BofA account and avoid the excessive Swift code fees ...

 

wallyc

[Samsonite 181]

Congratulations, WallyC!

All your diligent research paid off.

[js007 795]

Wally,

 

What's this about transferring funds from your Bank of America Account to the Bangkok Bank in Thailand? Have you actually done it? I've got a Siam Commercial Bank account and a Bank of America account, but I've never actually tried transferring the money out of the B of A account to the Thai bank. I didn't think you could do that because you need some sort of routing code the Thai banks don't have. Or do you also have a Bangkok Bank account in NYC?

 

Anyway, I usually just use the ATM for 20,000 baht at a time and pay the fee. I suppose I should figure out a cheaper way to get my money.

 

J

[Kev 178]

Nice one wallyc, glad everything worked for you. I'm still a long way off till retirement (about 12 years) but your advice has been embedded in brain that to read boards and get all advice neccassry.

 

Old saying "You can never have too much information."

 

Anyway good on ya!

[Eneukman 1]

Wally,

 

What's this about transferring funds from your Bank of America Account to the Bangkok Bank in Thailand? Have you actually done it? I've got a Siam Commercial Bank account and a Bank of America account, but I've never actually tried transferring the money out of the B of A account to the Thai bank. I didn't think you could do that because you need some sort of routing code the Thai banks don't have. Or do you also have a Bangkok Bank account in NYC?

 

Anyway, I usually just use the ATM for 20,000 baht at a time and pay the fee. I suppose I should figure out a cheaper way to get my money.

 

J

 

All Thai banks have SWIFT codes, which will allow foreign banks to make payments direct to your account. As always, the funds should be sent in your own currency and only converted to baht when the funds reach Thailand to ensure you get the internal rather than the external rate.

 

Last time I transferred funds from my Isle of Man account, the funds were in my Bangkok Bank account less than 48 hours later.

 

Alan

[js007 795]

All Thai banks have SWIFT codes, which will allow foreign banks to make payments direct to your account. As always, the funds should be sent in your own currency and only converted to baht when the funds reach Thailand to ensure you get the internal rather than the external rate.

 

Last time I transferred funds from my Isle of Man account, the funds were in my Bangkok Bank account less than 48 hours later.

 

Alan

 

SWIFT code? Does that mean a wire transfer type deal? If so, my bank can do it,I'm sure, but the cost is ore in the $35-$40 range, not $3 as reported.

 

 

J

[joekicker 53]

Wally, thanks for your excellent report. I'm sure it will help lots of people in the future. Do keep it up to date for a bit if necessary.

 

js007 and others: Of course you can transfer money, anywhere you want. The cost is between you and your bank.

[jacko 8,822]

SWIFT code? Does that mean a wire transfer type deal? If so, my bank can do it,I'm sure, but the cost is ore in the $35-$40 range, not $3 as reported.

 

J

A bargain, my UK bank charges £30..... that must be hundreds of dollars by now... Well $60 actually. I transfer in £ and my Bangkok Bank converts at the better Telex Transfer rate. The £30 is covered if I transfer £4000+...over tha cash rate.

[js007 795]

There are supposedly ways to do the transfers for next to nothing. I was just hoping they'd made it easier somehow. The simple thing to do is to leave the money in your home bank and take it out via the ATMs. But with B of A that can cost around $11 for a 20,000 baht withdrawal. So, if a person did that three or four or five times a month, the costs would add up. A one time wire transfer of the entire monthly amount would be about the same price. In any event, the idea is to figure out ho to do it for next to nothing. The money you save could pay for a few LTs.

 

One thing I have to look into is Paypal. They say Paypal debit cards have have no ATM fees. So, you link your Paypal account to your regular bank account and tap the money that way. It might be worth a try.

 

J

[jtiger 9]

I've got my money in Bank of America but their wire transfer fees are excessive.

 

I opened a Washington Mutual free checking account. No minimum balance, no fees and I can do wire transfers to my Siam Commercial Bank account in Thailand for free as well. Given that it takes the teller about 15 minutes to type in all the information to do a wire transfer it's not surprising that there's usually a fee for this service

 

I wish there was some way to move money from the BofA account to the WAMU account easily. Maybe one day...

[wallyc 0]

OK ... here is the deal with the bank transfers. This is the only method I know and have done it 4 or 5 times .. it is also the only method I have tried. And, my bank is Bank of America.

 

BofA has a relationship with Bangkok Bank, NYC. That bank seems to be the holding bank for the other Bangkok Bank branches in the USA. I don't think it is a bank you can do business in ...

 

With BofA online banking, there is a "Transfer Funds" selection. In that section is a "Outside the Bank" selection. In that section is a drop down window where you select where the transfer is to go .. If Bangkok Bank is not listed for you, you should be able to specify where you want the transfer to go. I think it was already listed when I first did it. Using the ABA Routing number of "02600891" .. that is the number for the Bangkok Bank of NYC. Then you use YOUR account number of YOUR Bangkok Bank account. So, now you have given BofA a routing # and your account #. For the first transfer, BofA will send 2 small amounts ( between 1 cent and 99 cents) to the numbers you have given - your account in Bangkok Bank. This procedure is done only ONCE and is to prove you are the owner of the account you have referenced. You will need to wait for about 5 business days and then call your Bangkok Bank branch and get the amount of the 2 transfers. You must have the exact amount. Back to the BofA 'Outside the Bank" transfer section where you will be asked to verify the transfer amounts. If you answer with the correct amounts, BofA will acknowledge the fact you are indeed the owner of the account and you have established the link between BofA and your Bangkok Bank account.

 

It seems much more difficult than it is .... The really hard part was listening to the Bangkok Bank voice telling you the amount of the deposits ( the small transfers ). Hard to understand what was said ... Called 2 or 3 times to make sure I had the correct amounts. I am still in the USA and could only call the branch. If I was in Pattaya I could have gone to the branch and have the amount written in my passbook.

 

Now that the account is established .. I go to the "Outside the Bank" section. Select Bangkok Bank ( it is the only selection I have ) as the receiver of the funds transfer. Select what account the amount is to be deducted from and then select the amount to send.

 

BofA will charge you $3 US for the transfer. Bangkok Bank has been charging me 500 Baht. When I check the amount of the deposit, it is in Baht and seems to be close to the ON-Shore exchange rate. The amount is higher than the OFF-Shore rate even when the 500 Baht has been deducted. The $3 will be added to the amount transfered ... transfer $200 and BofA will show $203 deducted from your account.

 

I found this method listed on ThaiVisa ( over a year ago ) in the banking section. The thread heading gave no clue this info would be in there. I stumbled upon it ... Was looking for a way, anyway to avoid another fee for transferring money to Thailand. This seemed the best of all that I read and I had a BofA account.

 

I do not know if BofA is the only bank with a link to Bangkok Bank of NYC. At least half of the SWIFT code fees, sure would be worth the effort to find if your bank has a similar link with a Thai bank

 

Read somewhere that the same scenario above using a wire transfer, Bangkok Bank was waiving their 500 baht fee. Have not tried that, yet ..

 

Hope this helps,

wallyc .............. ( Wally is not me, I'm wallyc from California USA, but not for long ... 8 more weeks )

[wallyc 0]

Forgot a very important part. I did not want to do ATM withdrawls because they do not show up on my bank account as funds transfered from outside of Thailand. If I need to show Immigration my bank funds transfers into Thailand, ATM withdrawls will not show. If for some reason I can not show enough income I will need to show a bank balance and activity in that bank account.

 

Hope this helps,

 

wallyc

[Eneukman 1]

SWIFT code? Does that mean a wire transfer type deal? If so, my bank can do it,I'm sure, but the cost is ore in the $35-$40 range, not $3 as reported.

J

 

Yes. I have set up a mandate with Nationwide Isle of Man so that all I need to do is either go on line or telephone them to instruct the transfers

 

Forgot a very important part. I did not want to do ATM withdrawls because they do not show up on my bank account as funds transfered from outside of Thailand. If I need to show Immigration my bank funds transfers into Thailand, ATM withdrawls will not show. If for some reason I can not show enough income I will need to show a bank balance and activity in that bank account.

 

Hope this helps,

 

wallyc

 

That is very important if you are renewing your visa based on having 800,000 baht in a Thai bank account. Immigration will want to see proof that the funds in the account originated from outside Thailand.

 

Alan

[MM 6,562]

That is very important if you are renewing your visa based on having 800,000 baht in a Thai bank account. Immigration will want to see proof that the funds in the account originated from outside Thailand.

 

Alan

 

That's not always the case. I had transferred the funds to one bank, closed the account and moved the funds to another bank, therefore losing my wire transfer proof from the bank statement of the original bank. They never questioned it, only the amount and the 3 month time period the funds were in the new bank. That's of course no guarantee that they won't check someone else.

[Emil 0]

If for some reason I can not show enough income I will need to show a bank balance and activity in that bank account.

 

 

wallyc

 

If your getting your monthly income statement from the US Embassy in Bangkok you don't need to show any proof of income, only affirm that the figure you put on the form is true. Also it ccan be any income not just from a pension.

[js007 795]

I've got my money in Bank of America but their wire transfer fees are excessive.

 

I opened a Washington Mutual free checking account. No minimum balance, no fees and I can do wire transfers to my Siam Commercial Bank account in Thailand for free as well. Given that it takes the teller about 15 minutes to type in all the information to do a wire transfer it's not surprising that there's usually a fee for this service

 

I wish there was some way to move money from the BofA account to the WAMU account easily. Maybe one day...

 

JTiger,

 

Read the other post about the B of A transfers. It should be a simple deal to transfer funds from B of A to WAMU for a fee of $3. Just go into your B of A online banking and select the outside the bank transfer option. I've done that before to transfer funds to my Netbank account. Cost: $3. Netbank has now gone out of business but while thy were around they had no ATM fees. Maybe I'll open up a free Wamu account and try that. Of course, that bank is beginning to look like it's going under, thanks to the USA mortgage mess...

 

J

[js007 795]

Just to follow up. I just opened a free checking account at WAMU.

 

Here's what they say about ATM and wire transfer fees:

 

Free ATM cash withdrawals worldwide: Withdraw cash from your WaMu Free Checking account at any ATM and we won’t charge you a fee. Sadly, other ATM operators may still charge you a nonrefundable fee and foreign currency exchange and transaction fees may apply.

 

Free checks—for life: With your WaMu Free Checking account, choose our single WaMu image style checks, and your checks are free as long as you have your account. Other designs are available at regular prices.

 

Free Gold Debit MasterCard® with rewards: Gold Debit MasterCard® with Rewards: Applies to purchases made by phone, online, in person or by mail. Reward paid to the account on anniversary date and equals $.03 for each Gold Debit MasterCard® purchase transaction made with the last year up to a total reward of $250.

 

Free outgoing wire transfers worldwide: Wire Transfers: Non-refundable foreign currency exchange charges and intermediary and beneficiary bank fees may apply.

 

 

Anyway, I guess I'll try them and see how it works in practice.

 

J

[jtiger 9]

I've done two wires with Wamu and will do another in a few days and have been very happy with the service.

 

Last time though it was kind of funny. Banks are always reinventing their plans and I got caught up in that. I've had a Wamu account for a few years and went I went to send a wire the lady told me that there would be a $20 fee. I said that I thought that wire transfers were free. She said they were if you had wamu free checking. I told her that I had free checking. She said that I didn't have wamu free checking. I said that I've had the account for a few years and I've never paid any fees so I know I have free checking. She said that i had wamu checking and not wamu free checking and that wamu free checking was some new thing. She offered to change me to wamu free checking and I said sure. She typed a few things and all the sudden I had wamu free checking and I could send the wire for free.

crazy....