david_je

1 hour ago, Oxx said:

If looking to draw up a shortlist, I'd suggest start looking at the holdings of funds here such as K-PROPI, TMBPIPF, SCBPINA.  One would like to think that the fund managers have chosen sensibly.  (Note that the holdings for these are not all in Thailand.)

 

https://www.morningstarthailand.com/th/screener/fund.aspx#?filtersSelectedValue={"categoryId":{"id":"THCA000046"}}&page=1&sortField=starRatingM255&sortOrder=desc

That's a good idea, thanks.

1 hour ago, Don Chance said:

SG:OXMU

Prime US REIT

SG:A17U

Ascendas Real Estate Investment Trust

SG:AU8U

CapitaLand China Trust

 

SG:J69U

Frasers Centrepoint Trust

 

SG:ME8U

Mapletree Industrial Trust

SG:CWBU

Cromwell European REIT

SG:BUOU

Frasers Logistics & Commercial Trust

SG:AJBU

Keppel DC REIT

SG:C38U

CapitaLand Integrated Commercial Trust

CA:NWH.UT

Northwest Healthcare Properties Real E

What do you base these choices on? Thanks.

Is this a good time to buy? Do you have recommendations for specific funds? Where would I find expert opinions of good buys?

Thanks.

13 hours ago, mvdf said:

You can try to use BEN (recipient pays) to see what your Thai bank charges you. I always pay all fees upfront. 

 

 

They don't show all charges before you make the transfer, only afterwards, so you can't compare before executing. You only know for sure it will be at least HSBC transfer fee of HK$50 and Bangkok Bank receipt fee of 200-500b depending on amount transferred. Thanks.

28 minutes ago, mvdf said:

Overseas charges paid by:  you (sender)

Local charges (if applicable) charged to you (sender)

 

If you follow the above, fees would be charged as OUR (not BEN or SHA). This means HSBC will charge the entire fees upfront which would be the better option as you would know how much fees you will incur for the TT as opposed to BEN ("recipient" pays which is the one shown on your screen shot above). If you select "recipient" your Thai bank will charge their fees separately. (how much is anyone's guess).

 

 

Thanks for that. I had thought that if I selected recipient (also me) for those charges, the amount of the fees would be the same except that it would be deducted from my Bangkok Bank account rather than my HSBC. If I understand you correctly, that is not the case. Should I say anything in the "message to payee's bank" box?

On 1/29/2022 at 3:15 PM, LoudHailer said:

Remittances into Thailand must be in a foreign currency. No Thai bank needs to be told to convert it to Thai Baht; it's automatic unless you have established accounts in other currencies, which in your case, I assume you do not. I have been remitting foreign currencies to Thailand for 20 years. No problems.

Thanks for that. The online transfer page asked me to choose currency for transfer, and I wondered if I should choose HKD or THB. I asked HSBC customer service in chat and she could not give me clear answer; she even said that if I wanted the transfer in Thai baht, I should ask my Thai bank (?), which doubled my confusion.

On 1/29/2022 at 11:29 AM, mvdf said:

https://cdn.hsbc.com.hk/content/dam/hsbc/hk/docs/transfer-payments/smartform-completion-guide.pdf

 

See that yellow box within the form? Select "OUR".

Thanks for that, but I am not sure how I'd use it? The online transfer page (from my HSBC HK account to my Bangkok Bank account, which I pre-registered as one of my payees, only has the boxes as in screenshot below. 

I just made the booking with the new system. You get quick confirmation email that contains a link for rescheduling; that takes you to page where you pick a new date/time slot.

5 minutes ago, Paulaew said:

No, it is not a problem, mine is set up exactly the same way. Just inform Fidelity of the name on your Bangkok Bank account.

 

Paul Laew

Thank you again for your help. 

23 minutes ago, Paulaew said:

There is no special setup required before making a request for Fidelity to initiate an international wire transfer to your Thai bank. I provided my Bangkok Bank details (just the SWIFT code, my bank account number and the name on the account).

Also realized that my Fidelity account name has my middle initial while Bangkok Bank account has middle name spelled out. Wonder if that would be a problem with transfers?

14 minutes ago, Paulaew said:

There is no special setup required before making a request for Fidelity to initiate an international wire transfer to your Thai bank. I provided my Bangkok Bank details (just the SWIFT code, my bank account number and the name on the account).

 

For security purposes, Fidelity will want to phone you for verification. You can add your Thai mobile to your profile (you can have multiple phone numbers in your profile, so you don't need to remove your US number).

 

I just tried to add my Thai number, but adding a number requires a verification code be sent to my already registered U.S. number, so I guess I will have to coordinate later with my brother who can check that phone. By the way, the site has a "primary number" and a "secondary number". During the transfer funds call to Fidelity, you can select which of those numbers to call you on?  How long for funds to reach your Bangkok Bank account? Thanks for your help.

On 1/28/2022 at 8:51 PM, Paulaew said:

I just wanted to correct this for the many Fidelity clients in this this forum.

 

The information quoted above about standing wire transfer orders is correct. But you don't need to have a standing order in order to request an international wire transfer from Fidelity. You just have to call them and request a SWIFT transfer to your account in Thailand. No Medallion signature guarantee is required, only the usual phone call to your number of record in your profile.

Paul, does this one-time transfer require any special set-up for transfers before making that call, such as registered link with Bangkok Bank (or do you tell them your BB account details during the call)? Or any special verification of your identity, such as calling you back on your registered number (my registered number is U.S. number). And the transfer can be from the settlement fund or from selling a fund, which you would also initiate during that phone call? Thank you.

17 hours ago, Sheryl said:

If you are a US citizen and return there is old age you'll be under Medicare and able to get a Medicare Advantage or Medigap plan.

 

And Medicare and options would be sufficient, without non-Medicare supplementary policy? I guess if you returned to US and had to cancel April policy and then after living in the US later decided to return abroad (and Medicare does not cover overseas), it would be difficult for a 65+ person to get a new policy. Thanks again.

Will be making booking for non-O (retirement) extension. Before doing so, just wondering how easy is it to change the booking, what is process. I did not see such info on booking site, before making booking.

Thank you.

On 1/28/2022 at 1:12 PM, Sheryl said:

 

 

To the best of my knowledge - which you should verify with broker -- it is an expatriate policy so would end if you returned permanently to your home country. 

 

Thank you very much Sheryl, for your very helpful comments.

Re #3: April Int'l France confirmed that it is an expatriate policy and would need to be canceled if you returned to live in your home country. Which raises the question -- If one day we decided to return to the U.S. (or wherever one’s home country is), wouldn’t we be faced with the possibly daunting challenge of trying to find a new policy at an advanced age?

On 1/27/2022 at 10:27 AM, ubonjoe said:

If they did not ask for a TM30 report when you applied for the visa you should not need one for the extension application.

They probably noticed you are you using the same address as before when you were getting extensions.

Do you mean "...you should NOT need one for the extension application"?

Also, do I need to get another bank statement to show the 800,000 is still in the account?

Thank you.

20 hours ago, hotandsticky said:

IMO, no.

 

I have used TW for over 2 years. No issues.

 

As a retired HSBC employee I do not pay charges on transfers  - Wise still works out significantly cheaper, and usually takes seconds to transfer.

Thanks for that. At least HSBC does seem to have lowered its int'l transfer fee -- it's now HK$50, down from HK$110 if I recall correctly, last time I transferred a couple years ago.

3 hours ago, mvdf said:

Why are you stubbornly insisting (no, lecturing him even) that he use Wise. It's totally his choice to decide how he manages his financial affairs. He is not mandatorily required to join the Wise cult.

 

OP, transfer HKD to your THB account. Instruct HSBC to execute the SWIFT MT103 transfer in HKD. Beneficiary bank will convert transferred funds to THB at Bank of Thailand rate minus fees or forex commission.

 

When you make an international wire transfer (MT103 SWIFT) you can nominate fee instructions as follows:

 

 

I had no idea I could specify those fee instructions. I would state this in the instructions box when I do the transfer? I say, "Pls execute the SWIFT MT103 - OUR transfer in HKD"? This saves me the forex commission? Would you be able to point me to an HSBC or other bank document where they detail this?

34 minutes ago, hotandsticky said:

Any reason why you are not using WISE (formerly Transferwise)?

I am exactly sure how WISE works, but I hesitate to add yet another account/contact for my financial info, with accompanying additional security and hassle worries and monitoring/maintenance. I don't know if I am justified to worry about this?

34 minutes ago, CRUNCHER said:

Use this regularly (HSBC HK to BKK Bank). Transfer currency is HKD. Under instruction to receiving bank ask them (BKK Bank) to change to Thai baht and they will do it. Normally takes less than 24 hours.

For larger amounts BKK Bank will usually call you to confirm converting to Thai Baht and if you are really lucky they will give you a slightly better exchange rate.

Thank you, exactly what I need to know.

My HSBC account is in HK dollars and Bangkok Bank in baht, and I will be using in baht the money that I transfer. I'm sure this is a dumb question, but in doing the online transfer, the HSBC system asks for "transfer currency" -- do I select HK dollars or baht? Seems like it should be sent as HK dollars and Bangkok Bank would convert into baht upon receipt? If I select baht, HSBC would do the conversion before sending? Difference cost-wise?

HSBC customer service in HK very had to reach by phone. 

12 minutes ago, Paulaew said:

I haven't used Wise or other services. I just transfer directly from my Fidelity account, they don't charge for wire transfers. Setting up regular transfers requires a Medallion signature guarantee, however, which is impossible to obtain in Thailand.

 

Paul Laew

Thank you for all the helpful info.

Would you pls explain briefly how the Fidelity transfer needs to be set up and how it works? The transfers are made from the brokerage/fund settlement account? Goes via Bangkok Bank NY? Only charges incurred are at Bangkok Bank NY and your branch in Thailand?

I haven't looked into detail on how they work, but with Wise, etc., I am wary of having to open yet another account or sharing my financial info with with yet another entity -- opening it up to more security concerns and hassles. Thinking would be better to transfer directly from institution where I already have account. Any thoughts on this welcome. 

Looking for cheapest method. In US I have accounts at Citibank, Bank of America, Fidelity, TRP, Vanguard, Harbor. Can Bangkok Bank NY still be used as intermediary bank? Had read that channel was going to be shut.

After getting the 90-day Non-O retirement visa a few weeks ago, they gave me 4 documents to bring back when I do my 1-year extension of stay: Statement of name, address, etc.,; TM7;  Acknowledgement of conditions of stay; and Acknowledgement of penalties for overstay. Has anyone been asked for anything additional in the 90-day to 1-year extension for Non-O retirement? Some of you are making me wonder if I need to do a fresh TM30 (first and only one was in 2019). Or did I already pass that hurdle when I got the 90-day Non-O? And after extension given, would I ever have to do another TM30 for next extension, etc.?