gamb00ler

I have a US based UltraMobile physical sim with a US number in my iPhone XR. It allows me to make/receive phone calls/messages via WiFi. I cannot use it with any local cellular network unless I want to buy a roaming plan, so I don't. My local service is from True and is enabled using an e-sim capability. I specify for each of my contacts which sim is to be used when I call them.

I agree ..... but the actual truth will be a set of possible causes each of which will occur with an approximated frequency. We will never know enough to be more accurate than that.

That sounds very similar to the UltraMobile PayGo prepaid option costing $3 (plus 5.5% tax) per month. The UM sim is available for $13 on eBay. You will need an accomplice/assistant in the US to receive the sim, install it in a compatible phone and connect to their network. The accomplice can then mail that sim to you in Thailand. Once setup is complete you can use WiFi calling/texting for up to 100 minutes (US only) and 100 SMS's per month without further charges. I use an iPhone XR for my UM sim plus use True service via an e-sim.

Not what I would consider an outlier would be the possibility that TRD would seek to tax income earned inside a Roth account in the year of earning. The US IRS does something similar when they ignore the 'tax exempt' status of a Canadian Tax Free Savings Account (TFSA) for Canadian expats living in the USA. In such a situation the Canada-US DTA doesn't help because there is no Canadian tax that could be reduced by a credit for having paid US tax on that income. US taxpayers who are tax residents in Thailand would suffer the same fate on Roth account income.

The tax treaties generally say nothing about remittance.

I believe that if the "card" is branded with Visa or MasterCard the exchange rate will be determined by them. You can find those exchange rates at: https://www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html https://www.mastercard.us/en-us/personal/get-support/convert-currency.html To get the right rate from those websites you need to know if there are foreign transaction fees applied by the financial institution that issued the card. Those fees range from 1-3%, perhaps even higher.

There are 2 methods that can be used to have SS deposited directly to a Bangkok bank account. The original method (before IDD) was to a special account at Bangkok bank that requires an in person visit to withdraw the funds. The newer IDD method can be used to a regular Bangkok bank account that won't have that restriction. You are getting your SS pension via IDD to a regular savings account at Bangkok bank. The two methods are quite dissimilar and the effective exchange rate will be slightly different.

Yes.... that is what you would need to do if you want to continue having your SS automatically deposited into the current BBL account. However, there is another method available to have SSA funds deposited into almost ANY Thai bank account that doesn't have the restrictions you're currently facing. I believe the other method is referred to as IDD. @Pib seems to know this topic very well. My SS goes to a USA based bank so I'm not well informed on details for direct deposit to Thai banks.

Do you have the special type of account created by Bangkok bank to accept direct deposits of US Social Security? Those accounts require you to go in person to withdraw the funds.

Is there a problem using the combination method for an extension based upon retirement using an income statement from my consulate and a bank account with sufficient balance to bring the total to 800K ฿. Depending on exchange rates, I may not need any bank balance. My extension will be in CM in Feb. '25. I know a long ways off but.... I want to keep my bank balance high enough for more than the required minimum number of months.

The best answer will come from the website of the Thai Embassy or Consulate that will be issuing the visa.

I don't think you need such documentation any longer. I helped my good friend set up transfers to USA from his Thai banks after he and his wife sold some property. The banks were much more concerned about the reason for the transfer. One time he told them he was sending money to pay for his family's visit to Thailand. The bank wanted to see the receipts... 😳 but didn't ask the source of the funds.

I'm still Braving on AN... no ad blocking software, no issues and no distractions at all.

Here's a peace offering ..... https://aseannow.com/topic/1305013-bank-savings-interest-rates-2023/?do=findComment&comment=18831070 There is however a correction to that post: LHBank does accept foreign depositors for this rate.

It's not my fault that you chose a bank account that pays so little interest. I guess my singular cell is just simply better at financial affairs.

There's altogether too much software requiring a too large investment of time up front. Hopefully my current passion will bear fruit and I can learn how to make my home smarter and efficient. Currently the home automation landscape is very fractured and the path to building heterogenous systems still passes through a minefield.

or..... you could keep the tax ID in your wallet and next time you're at your bank show it to them and ask them to stop withholding the 15% of your interest.

I mentioned that it was 2021..... probably August because that is the oldest statement I have on file.

Have you ever used an Apple desktop? The included software really makes so many things easy that require third party software/hardware on other systems. I just learned one very smooth method to create PDF's of paper documents using my iPhone together with MacOS. Now I can declutter my desk and file cabinets quickly and without needing to buy a scanner or software. I can just take my iPhone and docs out to the living room where there is ample natural light, snap a shot of each page and the PDF is automagically created on my desktop in the office. I agree that Jobs was not a pleasant person in many regards, but he definitely brought some great products to fruition.

I shudder to think of the stream of posts that would result from you discovering the beautiful integration of smartphone/computer/TV/smarthome in the world of forbidden fruit.

I guess it depends on which TRD staff you deal with. I'm entered Thailand on non-Immigrant O and I am currently on extension based on retirement. In 2021, after getting my first extension, I went to the TRD office in Nong Hoi. I guessed which door to go in, was soon pointed to the correct door and was given my Thai tax ID within 15 minutes. I told them SCB bank wanted my tax ID to open a new EZ Savings account. I had my bank books, a residence certificate from Thai Imm. and my passport with me.

All VISA and MasterCard credit/debit cards use the same exchange rate that is set once each business day by the card processors (VISA and M/C). The difference is that some banks/financial institutions add a foreign transaction (1-3%) fee so that they make a larger profit on each transaction. Schwab gets high marks because they are one of the few institutions that do not add that extra fee. Schwab gives an even better deal because they also refund the ATM fees (220฿). Check the terms and conditions of your credit/debit cards so you are aware which ones add the foreign transaction fee.

A question that I haven't seen asked yet is: what about Thai PIT in the year that you pass away? I wonder what TRD's rules regarding foreign assessable funds not yet remitted but bequeathed to a Thai tax resident will look like. I don't know the details but there was a lot of tax paid on my mother's behalf when she passed away in Canada about 25 years ago. At the time I had already left Canada so as executor I had to (over)pay an accountant to take care of her last filing.

I can definitely think of instances where this statement is not true. I don't want to go into details but how capital gains are calculated for residential rental properties in the USA would make the heads of TRD staff spin. I think it very likely that TRD would want to use a much simpler method to determine capital gains.