ernieK24

I would certainly appreciate a little guidance here, if you can help me. Here's where I stand:

I have transferred a sizable amount from Washington Mutual, here in California, USA, to a Citibank branch, for the sole purpose of wire transferring my funds to a Citibank in BKK, hopefully in the near future. I intend, on my very next visit, to open an account in the BKK branch of Citibank.

Can someone tell me if this is a good, or bad, decision. I've been told that the Bkk branch is completely independent of the US bank, and is not, in a sense, a branch of the system in US, as we understand it. Therefore, it's not just a simple matter of transferring funds betweeen accounts on the internet, as you can here, but means that it will have to be a "swift" trnsfr, or the equivalent.

Can someone enlighten me on the best, most efficient, and obviously, the cheapest way of getting funds into Thailand for retirement purposes. My intentions are to apply for a 90 day NI visa and at the proper time apply for a one yr. extension, at which time I will have to have the proper amount in the bank, or enough retirement income to qualify, both of which I have. I will transfer from time to time, enough money to live on, either with a wire transfer, or thru an ATM,

and then transfer the neccessary amount to my Thai account to satisfy my visa requirements, leaving the rest in my US account, and bumping it up from time to time to satisfy immigration. (It's not that important anyway cause I'm getting less than 2% interest here).

Would appreciate your ideas, and input.....Thanks in advance, and I'm sure there are others with some of these same questions....... Ernie

Hey, we're all ex-spurts here 

I transfer money from the States to Kasikorn bank at least once a month, online, never a problem...

A couple of tried-and-true solutions:

Open a Citi account. Online banking, including international wire transfers. I seem to remember making a phone call to set it up the first time. That was like 5 years ago. I use them for overseas transfers and as a depository for paypal payments made to me. Never any problems except for the $40 international transfer fee. Kasikorn charges a max of 550 baht on the receiving end

Open a brokerage account at Ameritrade.com I had to fax them a signed permission note the first time, but no sweat doing it myself online after that. You can also open this brokerage account online, and fund it with a free ACH transfer from your bank in the States. Lots of other interesting services offered with these accounts, like cc cards, free ACH transfers, paper checks... Pretty much like a bank, except cheaper fees, in my experience. I also have an account with

Scottrade.com, but they charge $20 for local wire transfers, and don't do international ones at all.... Always read what the lawyers have written 

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I sure would like a little more information on your trnsfrs from Citi to LOS. I have transferred a sizable amount from Washington Mutual, (which sucks), to Citi and intend to eventually make transfers to Bangkok Bank when I've finally made my permanent move over there. Please, if you will, give me a few details on what I have to do to set it up. etc.....Can I set it up before I go over and set up the Bangkok Bank account, or do I have to go over and set up that account, then come back home and set up at Citi. ..... Thanks in advance, ErnieK

There's a big difference between living there and being on holiday/vacation there.  For living, 30k will be no problem, for holiday/vacation - well, it wouldn't feel very much like it. For the first few weeks try to keep note of all you spending for day to day living and also a separate list for 'extra' spending.  Then if you are over spending you will know exactly where to make cuts.

Hope all goes well

Suegha

เสือ

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I would like to add my endorsment to Suega's sound advice. After you get through your "start-up" expenses you'll have very little trouble living on 30k baht, IF you settle in a "non=tourist" area. And you're gonna LOVE IT. Don't forget to come on the msg board once in a while and give us a run down, for the benefit of others in your same position. We appreciate it as much as you do, especially me. because I intend to do the very same thing as you in the very near future. Good luck, Ernie

high all    i am thinking of leaving the uk for the winter months but i need to live pretty frugally not sure of cash flow what would be the minimum sort of monthly outgings i could expect pay?say a few beers each evening, my only vice iam 58yrs young fairly fit im not materilistic quite capaple of living simply.i would love to hear the pros and cons of living in thailand maybe its possible to work? i am a former fitter a good handyman and earn money from photography. appreciate any advice thanks :

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To add to my prevous post.....you can not work in Thailand without a work petmit. You can not get a work petmit without a visa. I suggest you read other posts on this forum which thoroughtly cover this subject.

For further info on housing costs may I suggest you bring up www.pattayamail.com

and click on classifieds, then on apts., condos, and houses for rent in the classified section drop down menu, for rentals in and around Pattaya. In my opinion, you cannot live very confortably on 30k a month in Bangkok unless you get very lucky and find a cheap place to live. On ther other hand, there are quite a few people living in Pattaya, Chiang Mai, Udon Thani, and many other smaller, non tourist locations that live very nicely on that amount. Good luck, & keep us posted.

30Kb a month, but I'm sure others would disagree

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Would agree that a frugal living can be had on 30k, but that's r-e-a-l-l-y frugal.

If you look around you can find decent living quarters for from 5k to 6k a month.

They won't be deluxe, but liveable, furnished sparsely. That leaves you 24 thousand for food, drink, and utilities. You don't really NEED a phone line, a mobile phone is so cheap, and you can control it's use as you see fit. If a computer is going to be part of your living style, then a little more expense will be neccessary, but then that'll be up to you.

Thai food is rediculously cheap....."falang" food is not, so if you can learn to like native grub, with an occasional burger or two to change the pace, you'll do fine. Also if you intend to prepare most of your own meals, you'll save even more.

Take-out beer from the supermarkets, or 7 - 11, is about 22 to 25 baht per can, and draught, (draft) beer is about 35 baht in the beer bars, (bar-beers), with bottled beer about 35 to 40 baht, native beer, and there are some good ones once you get used to them. Not ALL bars of course, but you have to familiarize yourself with the bars, and there are hundreds of them, because most of the bars I hang out at are about that price.

I've told my lady that my income will be about 1100 bucks, US, (about 40k baht) and she thinks that's a fortune. It will be considerablly more than that but I was testing the water. She says we'll have money left over each month, and she can hardly wait for my move to BKK so we can live together.

I hope this gives you some insight.....your mileage may vary.....but it can be done and with so much joy and happiness available, who needs money.....Ernie

How can any government be at fault when this was act of mother nature??

Sorry, irrelevant in Court.

No, wasn't it an act of God?

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[/quote

It's absolutely amazing how much "hind-sight" some people have. If the earthquake and ensuing tsunami could have been predicted by someone, then we needed those same people around when the volcano erupted in the Phillipines, killing hundreds, and when Mt Vesuvius erupted in Italy, burying the city of Pompei, and when the fire broke out in the hotel in Jomtein, killing hundreds. Wow.....you guys are great.....you should be prognosticators yourselves then you could put the blame where it belongs..... even BEFORE it happens.

Hello,

I am think of risking this scenario.

Do you think it will work boarding a Northwest flight in the US.

Rountrip NW ticket lasting 70 days

Holding rountrip ticket Thailand to Singapore that shows leaving Thailand before 30 days, and staying in Thailand under 30 days for the second stay.

In other words, I can show evidence that I will not overstaying either one of two 30 day stamps.

The obvious point is to ask the airlines, but I am in Thailand now, and I am not sure I would really trust what some customer service person told me anyway.

I am wondering whether in the real world they would actually have the unmitigated GALL to stop me from boarding in this scenario. (And would it help that I have been en elite NW member for years?)

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Certainly agree with all that was said, especially that udder one. You guys make this forum a pleasure to read. No bullcrap, no ballyhoo, no smart assing, just good stuff, and plenty of it. I have gained a lot of help and knowledge from you guys, and I wish to extend my thanks.....And a Happy New Year.....ErnieK

If you are married to the lady you could probably use that account - and if you support her also only have to have half the amount on deposit.

Your bank should allow you to sign paperwork to allow wire transfers (called a wire transfer agreement) now.  Once you set up the account you can provide them the full transfer information/request by phone or fax or whatever they say - check with your bank branch - it should not require your return.

Although they can be busy and unresponsive at times believe Bangkok Bank PLC is your best bet - if they fail; the country fails.

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Thank you very much "lop". I"m not married to her.....yet, but I do support her somewhat, through the magic of the ATM. I put it in.....she draws it out. It's a small bank here in San Bernardino, California which does not charge a fee for use of other ATM's, and, in fact, I use it occasionally on my trips over there. Very, very useful, and "handy".

I have written a letter, haven't mailed it yet, to The Thai Consul in Portland, OR,

requesting info and necessary forms to apply for an NI O visa for the purpose of retirement, and what I need to send at this time, the necessary fees, and the type of payment, (check, money order, etc...). I will post the results of my inquiry on this forum so that others may benefit from it if needed. Thanks again and a happy holiday season to you. ErnieK

This won't be difficult for many of you guys. Here are my details:

I plan on trying to retire in Thailand sometime next year.

I am WAY over the 50 yr. mark.

I have sufficient funds in Citibank in California, USA to qualify.

I think I have sufficient retirement income, from SS and pensions from past employment to qualify. I have been retired a long time.

I have a small joint account in Bangkok Bank, with my lady.

Here's the question.....Do I have to make another trip over, open an account, then return home and set up a transfer with my Citibank, after I have an acct. no.,

or can I set up the transfer arrangement now and e-mail, or telephone them the account number after I arrive in LOS, and open the account...?

Any suggestions on preferred banks in BKK ? Any advice would be appreciated.

I would also like to take this opportunity to thank the members of this board for the invaluable and reliable information you have provided for those of us who are not as well informed, (bunch of dumb-asses), and to wish each and all of the readers of this forum a HAPPY HOLIDAY SEASON......ErnieK

Here is a direct quote from another poster on a different board:

"OK, I has to go to the embassy in Bangkok. Went there, did that. This was my first time at the embassy so did not know my way around. Had to check my cellphone and digital camera at the guard gate, was given a plastic number to get them back"

"Inside the embassy grounds were two long lines of mostly Thai people presumably waiting to apply or pick up US visas or take care of other matters. To the right I found a pathway leading to another small building and a sign directing one to US Citizens Services. Stepping inside the door I initially saw about a half dozen people sitting in chairs before three service windows. Inside that, were a much larger number of people in chairs in a larger room with 13 service windows. The embassy performs a lot of other services besides guaranteeing income statements. I saw no information desk so did not know which place to go first. Stepping back toward the entrance I went right up to one of the first three windows and was greeted cherrily. The lady handed me a form to fill in and sign, that simply stated the amount in dollars that I recieved in retirement income,

(and other sources) per month. Filling in this information took only a couple minutes. I included my social security pension plus the amount of employers pension I will recieve.I then proceeded to to the payment window to pay the $30 fee for the service. Returning to the initial window, a clerk took the form and asked me to wait. Five minutes later I was asked, 'can you verify the information you entered ?'. I said 'yes'...Without asking to see the documentation (which I had with me), the form was duly stamped, and I was out the door. 45 minutes in the embassy. 2 1/2 hour bus ride each way, Pattaya/Bkk/Ptya..."

"Returning to Pattaya, I put off the task of assembling all the visa extension documentation and making two copies until the next morning."

"The next day, Friday, I took all the documentation to the Pattaya Immigration office. The same guy who had given me the application forms and previous information recieved my documents with little fanfare. Going through each package he removed all documents concerning my USA bank account and anything else he felt was extraneous, aked me to sign each page in each set, took my 1900 baht, handed it over to a Thai lady in uniform and asked me to wait. No more than five minutes later the uniformed lady called me over and handed me a tag and said to come back 3 pm ti pick up you passport with new NI-O-A one year extension. Total time in immigration office - 15 minutes.....WOW...!"

I hope this helps someone.....it's sure gonna help me. Chok Dee...ErnieK

I spend about 3 months a year in Thailand. Is there any advantage to using a bank like B of A that has an office in Thailand? I want to dump Wells Fargo and looking for ideas. Would probably prefer something other than B of A. Thanks

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Maay I suggest you look at CitiBank.

I have found the best prices on Orbitz.com and "travelocity", or Yahoo travel. But you have to keep trying cause price changes do occur as availability changes.

EVA air has some pretty good prices but their web site is a little hard to maneuver.

Bring up their site then click on "hot E-fares" and go from there. (evaair.com).

angeltravel.com in the Chicago area offers some pretty good bargains also, and bears checking out. Lots of good reports on them from posters on other boards.

China Air seems to offer the best fares for "right-away" tickets, found on orbitz or travelocity and yahoo. As stated previously, though, some of the best fares can be found in the travel section of the large metropolitan newspapers, but it takes a few phone calls, and lots of questions. Good luck, (chok dee).....ErnieK

I think a lot of you guys are overdoing it a little bit. All the guy wanted to know was approximately what it would cost, on average, to live in LOS so he can access what his chances are, and how difficult it would be. He doesn't need a course in economics, or all the negative "cheap-charley" wise cracks. If we're going to help each other..... then lets HELP each other.

I've been coming to Thailand for over ten years, and costs have gone up a little, but nothing compared to our home countries. I've done a lot of looking around, talked to a lot of people, and I have come to the conclusion that 50,000 baht a month will keep you, and a lady, very comfortably, barring any unforseen mishaps like accident, or sickness but that's what the bank account is for. If you love your lady, wife, or otherwise, and respect her, then you won't be whoring around like you did before you met her. If you intend to settle down and live the life like a couple then that amount will be plenty.

If you're going to be out every night with a different bar girl, drinking to excess, smoking a carton a week, (as I used to), then NO amount is predictable, so just figure out what kind of lifestyle you want to live, and where you want to live it and go from there. There's enough accurate information on this thread already for someone to make a reasonable assessment of living costs.

Thank you for your response. My intentions are to open an account at Citi in Bkk and, although I can't tie the two together internet-wise, nor transfer between the two on the net, I'm assured by my home bank representative that I can set up, before I leave, instructions for transfers to the Thai branch, and do it at relatively low cost. I'm also advised that I can withdraw up to $2000 a day from my ATM account, and I can transfer on the net between my savings and ckg. accounts here at my home bank. Since the ATM in Thailand will draw from the "prime" account only, which in this case would be ckg. and, unlike at home where you can specify which account you wish to withdraw from, savings or checking, I will have to make sure my checking acct. is kept up to date with sufficient funds.

I've read on other boards that Citibank is pretty good, and since it is a "world" bank, as is Bank of America and several others, that they are equipped to handle the services we need.

Lopburi, do you have any particular reason why I should use a Thai bank as opposed to Citibank......or any other one in the U.S.. I'd sure like to know. I'm a greenhorn at this and need all the help I can get. I worked all my productive life as an Electrician and I know very little about finances.....Thanks, ErnieK

I've got enough in my U.S. Citibank to qualify me for a retirement visa. In addition I have almost enough monthly retirement income to qualify me,

Would some of you learned board members describe to me the best, or most efficient, or quickest, or cheapest, (any of the above), way to get my account, at least a large part of it, to a bank in Bangkok.

I get along fine using my ATM card on trips but I intend to try to spend my final few years with my honey in Thailand, and I'm a little up in the air about how to do the money thing the right way. We, (her and I) have a joint acct. (very small) at Bangkok Bank. but that will be separate altogether. I'll have to establish my own account, as I understand it, to be elegible for the 800,000, or combination of retirement income and bank savings, to qualify for a NI-O-A visa.

I know, this has probably been hashed-out a dozen times before on this, and other boards but I'm really a dummy when it comes to finances. Any help or advice you can afford will be greatly appreciated.....Thanks....ErnieK

For what it's worth department: Before you spend a lot of time elsewhere, try this:

Royal Thai Consulate-General

121 S. W. Salmon St., Suite 1430

Portland OR 97204-2924

Tel: (503) 221-0440

Honorary Consul: Mr. Nicholas J. Stanley

There have been extremely good results from this office, with quick and efficient service, from members of another board.

If you are applying for an NI-O-A visa, (Non Immigrant O-A) retirement visa and you are old enough, may I suggest, as was suggested to me, that you give them the following information, either by phone, or letter.

"I am a USA citizen, xx years old, with no Thai wife or kids to support, no business interests or employment in or outside of Thailand, in good health, financially secure, and wish to retire in Thailand with a long term NI-O-A visa".

Request the neccessary forms, information, fees, form of payment, etc... be sent to your address. One person, from California, after sending in the forms, photo, and fees as required, got his visa back from Portland in five, (5) days. Not bad.

I certainly wish you luck, and would like to hear the results because I intend to do he exact same thing.....Regards, Ernie

I've been going to Thailand every year since 1994, sometimes twice a year. The past four years I've had a steady girl friend who is not, nor has she ever been a "BG". She is a seamstress who in previous years worked in some of the "sweat shops" you've read about. She owns her own home, in Bkk, inherited from her mother, lives with her sister, who works in a boutiqe in BKK, as a seamstress doing alterations, etc.....She is 49 yrs old, and looks 30. She is dying for me to come to Thailand permanently and live and share her house with her, or she is willing and anxious to move to Pattaya with me so that I can be near other farangs and enjoy their friendship. I DO NOT speak Thai.....nada.....nil.....none. She tries to teach me the basics, but before I can get back I forget almost everything she has taught me. She goes to school to learn English, and she's learned a lot, but the situation for her is the same, she forgets because she has no one else to talk to.

When I move over there permanently that will change. She can attend school in Pattaya very cheaply, two hours a day, and after school we can exchange words and conversation, and we'll both learn from it.

I have been checking the cost of an apt. or a condo in Pattaya and it appears that you can get a suitable one bdrm., or a "bachelor" apt. (that's one big rm. with cooking facilities, bed, etc.....) for about 4,000 to 6,000 baht, probably at least partially furnished. That's just about the low-end though, and it goes up from there if you want more luxurious accomodations. I think that if you research a little, look around a bit, you can find something pretty good for about 6,000 baht on a long term lease arrangement, plus utilities of course. At 41 baht to the $ that's a little less than 150 bucks a month US. Depending on your country, "your mileage may vary".

My social security is $1080.00 a month, (US), or 43,000 baht a month, at 40/1.

I have told my lady what my monthly income is and she was elated. She thinks we can live comfortably on that amount, and have money left over.

I also have a small pension from my previous employment. Not too much but added to my SS check each month it raises my income to about 65,000 Baht monthly. I haven't told her yet about that extra income. I will leave it direct-deposited in my US bank until such time as I decide to surprise her.....if that time ever comes.

I have opened an account at Citibank in the US and will open an account in BKK at Citi and transfer fund from the US to Thailand very easily, according to what I have learned from the boards here on the internet, and from talking to the bank people at Citibank. Also, there really is no need to bring a large supply of cash with you, except for a modest amount to carry you over in case of any unseen emergency. The ATM cards work in almost all the Thai banks, in most cities of any size, and usually with no charge whatsoever, unless your home bank charges a fee, in which case I would change home banks.

When I first started coming to Thailand, my first couple trips, I brought loads of travellers checks and a fairly good supply of US cash. No problem cashing large bills, but with anything less than a $50 bill, the rate drops dramatically. The same thing applies to trvlrs cks, and to cash a trvlrs ck requires that you take your passport with you. They won't cash one without it.

With the ATM card.....that's all you need, and you can withdraw only what you think you'll need for a day or two, because there are ATM's EVERYWHERE, at the airport, at any and all shopping centers, in addition to the bank branches located conveniently in the tourist areas.

IMHO bring 2 (two), or more ATM cards, the reason being, although it has never happened to me, (yet), I have heard of customers having the atm machine eat their card for some reason, and not return it, therefore the emergency cash, or another ATM card will be needed till you can go to the appropriate bank to retrieve your card, and I've heard of it taking days and days.....sometimes.

I gave my lady an ATM card four years ago. She uses it monthly, and sometimes twice a month, and she has yet to have any trouble at all, so don't let that warning stop you because I believe it rarely happens.....bit I understand it DOES happen...

so I've read.

If you've been to Pattaya before you already know that there is a multitude of fast-food outlets in Thailand, such as KFC chicken, McDonld's, Burger King, Pizza Hut, Dunkin' Donuts, Swensen's and 31 Flavors ice cream, and plenty more. They are about the same prices as home, maybe just a bit cheaper in some cases, so you can add it up what it will cost you if you can't survive on native dishes. If you eat Thai food you won't believe how little you will spend on food.

If you drink alcoholic beverages, beer to take home, in the markets and 7-11 is about 30 or 35 baht, (you do the numbers), and in the beer bars somewhere around 80 to 90 baht, sometimes less. Soft drinks are a little cheaper, but not a helluva lot. The cost of transportation is almost nothing, considering the cost of a vehicle and the price of petrol, (gas). I honestly believe that if someone GAVE me a car in Thailand I wouldn't drive. I would take the baht-bus instead, or a taxi of some sort. The insurance alone would keep me from behind the wheel, and if that didn't do it, the absolutely idiotic drivers would. Look around you the next time you're there. Try crossing on foot, any boulevard in BKK, or try to cross Beach road in PTYA on Saturday night.

These are just MY takes on the situation. Just my ideas, and others probably feel completely differently about things, so just draw your own conclusions. If you're planning on staying, or living in a large city like Bangkok, or in a beach city such as Pattaya, be prepared to pay more for the cost of living there. On the other hand. if your plans include living in a slightly more remote area, the cost will probably be much less, but without the conveniences you like to have. One thing that would be important to me is that wherever I plant myself I would ###### sure have a western type toilet, (not a "squat" Thai one), and a shower with at least warm water.

Whatever you do.....do it, and think positive. You're going to love every minute of it, from day one. Thailand is a beautiful and wonderful place to live....ErnieK