British Pension Direct to Thai Bank

[Bernard]

I am about to receive my state pension from the UK for the first time and it will be paid into my UK bank account.

Question 1. Is it possible to have my pension paid direct into my Thai bank account.

Question 2. If it is possible, will this direct payment every month from the UK be accepted by immigration as proof that I can support myself and negate the need to have 800,000 Baht lodged in my account in Thailand.

Thanks in advance for any help.

[blue05]

The UK state pension can be paid direct into a Thai bank account as I know a number of expats that do this.

Re the second point, it would depend on the amount of the pension, I believe if you have a letter from the Embassy confirming the monthly pension then that negates the need for the lump sum in a Thai bank.

Sure there will be more detailed posts soon

[Big Boy]

Re the second point, it would depend on the amount of the pension, I believe if you have a letter from the Embassy confirming the monthly pension then that negates the need for the lump sum in a Thai bank.

Yes, but you will have to pay for this letter every year @ 2,340 Baht per annum http://ukinthailand.fco.gov.uk/en/help- ... you-retire

[sargeant]

I have just done mine you should have a letter confirming your WEEKLY pension send this to the embassy and you will recieve a letter from them confirming it for immigration

you will still need to provide proof of 800,000bt per annum total

however if your pension is not 800,000 you will still need to show a balance in a bank account to make up any shortfall

ie if your pension is 400,000 bt per annum you will need 400,000bt in a seeded bank account

[lomuamart]

The income requirement is an average of 65K a month. So, it actually works out at slightly less than 800K - 780K.
All Imm will want to see is the letter that sarge mentions above (weekly or monthly amount). Your pension will be put down in GBP and Imm will make the exchange rate calculation to THB on the day you apply for the extension.

[Big Boy]

Am I right in thinking, even though it is a Government Pension, you will still need to get a letter each year?

[sargeant]

Yes BB i have tried and tried with just the BA pension statement but they have always wanted an embassy letter 2350bt
I recieved mine from the embassy today will present it 26th

I just sent my BA pension statement and my confirmation letter for my state pension took six days by ems post

[Big Boy]

I just sent my BA pension statement

That has concerned me for some time now. All that I get from my pension company is my money every month - I've never received anything else. I'll have to contact them to make sure that they know where I am, and to ensure that I get some sort of pay statement, just in case I ever need to go down the letter from the Embassy route.

[Bernard]

Thank you all for the responses to my enquiry. I called The Pensions Office in the UK today and spent 25 minutes on the phone changing my bank details from Lloyds to Siam Commercial so all is sorted. Interestingly, the British Government Website for Pensions does NOT list Thailand as a country that they will pay into........but they do !!

[sargeant]

Just a quick question does one need passport photos for retirement visa renewal i have a total fog on that at the moment

[lomuamart]

Yes. Two mug shots (maybe one. Can't remember myself),

[Big Boy]

Thank you all for the responses to my enquiry. I called The Pensions Office in the UK today and spent 25 minutes on the phone changing my bank details from Lloyds to Siam Commercial so all is sorted. Interestingly, the British Government Website for Pensions does NOT list Thailand as a country that they will pay into........but they do !!

What conversion rate do you get Bernard? Is it the UK rate, or the Thai rate?

[Bernard]

Thank you all for the responses to my enquiry. I called The Pensions Office in the UK today and spent 25 minutes on the phone changing my bank details from Lloyds to Siam Commercial so all is sorted. Interestingly, the British Government Website for Pensions does NOT list Thailand as a country that they will pay into........but they do !


What conversion rate do you get Bernard? Is it the UK rate, or the Thai rate?

Not sure BB......but I was told that it is a better rate than one would get from a bank as the "Pensions People" send zillions of pounds each month in bulk and get a more favourable rate. Whatever it is I'm sure it will be better than having it deposited in the UK, then transferring with fees, then exchanging.

[Big Boy]

Please let us know when you find out. If it's the UK rate, then for my pension, it would certainly be a bad move to switch. If it's the Thai rate, OK, all of my income will be stuck in Thailand, but it could be financially beneficial.

[Bernard]

Please let us know when you find out. If it's the UK rate, then for my pension, it would certainly be a bad move to switch. If it's the Thai rate, OK, all of my income will be stuck in Thailand, but it could be financially beneficial.

Might be a few weeks but I will certainly let you know.