KhunHeineken

Firstly, I am not bragging. Secondly, it's not about affordability, but about the risk in moving 800k baht to a 3rd World Country where I have no rights, and, by the way, neither do you, nor does every other retirement visa / extension holder. It's as good as a 12 month tourist visa, that's it. Then, there is the convenience of not dealing with immigration. Put all these together, and it's safer, more cost effective, and more convenient to use an agent, not to mention, the tax on remitted funds for new retirees. I know you don't get it, and like the saying goes, I can explain it to you, even show you the math, but I can't understand it for you.

Like I said, plenty on the net about it, and for more than just "a few" countries. Do your own research.

Others may face the same problem in the future.

That means he would be without the use of a VPN UNTIL and IF the company ever makes a new offer, and should he decide to use a new email address to make a new account, how will he pay? They are not that stupid that they do not cross reference payment details. I suppose he could use his spouse's card, or a friend or family's card, maybe even anonymous crypto, but what a tangled web one would weave in order to save a lousy 60 baht a month. It pays to look at the bigger picture.

In a time of high inflation, high rents, and high wages, they have increased the price by $20.99USD per year. This works out to be an increase of $1.75USD per month. $1.75USD is 60 baht a month, which is less then one small beer in a bar, all over Thailand, per month. I have always said, you get what you pay for with VPN's, and not all VPN's are made equally. If you are familiar with the PIA user interface, and billing system, and the company has served you well in the past, you might reconsider and just pay the extra money. Yes, there are cheaper VPN's on the market, but when you do some research, you will find they are cheap for a reason.

When they changed the router, did they also change your IP Address? Do you have a static or dynamic IP Address?

I am not familiar with this make and model, but do you need to set up port forwarding? You do not mention anything about it. You mention the cameras can contact to your router, but to remote view them, you may need to set up port forwarding. As for a power outage, you can buy a UPS and connect your router and hub / cameras to it, however, if the power outage lasts for hours, eventually the UPS will drain, and there will be no power to any devices from the UPS. The only way around that would be an expensive home / solar battery with around 10Kw capacity. You wouldn't buy one just for some CCTV.

I sit back and let my money do the work. I suppose some still have to drive a Cat D9 dozer in 50 degree heat. Now, getting back on topic, do you declare any money earned from selling opal to Centerlink?

Same guy. Video only 3 weeks old. France looking to implement it. France is interesting, and this is just my opinion, but if implemented in France, it could spread to other EU countries.

Plenty on the net about it. Some countries looking at the US citizen based taxation model, other countries looking at going through the back door to implement a similar model.

I can see the LTR gaining in popularity over time.

I understand many are in a similar situation to yourself, and I have no problem with it. Some seem to think their extension only costs them 1900 baht, as opposed to those using an agent who may pay 15000 baht, however, in order to pay the 1900 baht, one must accept a considerable loss on the poor interest offered by Thai banks, thus, the extension costing them way more than 1900 baht, yet, many refuse to accept the math. As the saying goes, you can tell them, but you can't understand it for them.

Digging holes in 50 degree heat, in the hope of finding some opal, is not what I would describe as a happy retirement.

Is that taxing remitted pensions in Thailand, or Australia taxing pensions at non resident tax rates? Do you have a link to the youtube video?

How is this information not relevant? Centerlink distributes the aged pension.

I believe the form was first introduced late 2019. Here's some details. https://guides.dss.gov.au/social-security-guide/6/2/1 Of interest, and the source of some debate on this forum, is the government knows when you have been outside of Australia for 2 years or more, thus, they contact you and request you submit a proof of life form. Some believe immigration doesn't communicate with Centerlink, and others believe immigration does communicate with Centerlink. This can be seen when a pensioner is outside of Australia for 6 weeks and their pension supplements are cut off.

The figures are there for you to see. I posted a link to a bank paying 5.15%. Also, put the money in a managed fund and you can earn more. I have a diversified portfolio, but 800k baht at 1.8% is just a "donation" to Thai bank shareholders. The interest I earn on the 800k in my home country pays for the agent, and then some, and I have the convenience of not having to deal with immigration. It's not a money saving or making exercise. I could move the 800k baht here today, but why would I? For me, I am more focused on the risk of moving 800k baht to a 3rd World Country where I have no rights, and to some degree, losing the use of it for 5 months of the year. Then, there is the convenience of using an agent. Like I said, I'm relaxing while others are in a queue at an immigration office being told they are one photocopy short, or drawing maps. Once again, each to their own, but for those using the 800k baht method, don't say your extension only costs you 1900 baht because it's costing you way more than that, and also don't think that people using an agent can't afford to move 800k baht to Thailand because that simply isn't true. I have quiet a few friends that are financially comfortable but see the 800k baht in a Thai bank as a waste of money, as do I. The math shows the true cost of an extension using the 800k baht method.

Yes. This is the free call number for Centerlink from Thailand. 001 800 611 4136 This is their number to call from overseas. +613 6222 3455 There's are their hours over the festive season. Our service centres and most call centres close for national public holidays. This means you’ll need to do your business with us online or by phone self-service. We’ll be closed: Wednesday 25 December 2024 Thursday 26 December 2024 Friday 27 December 2024 Wednesday 1 January 2025. Smaller sites for rural and regional communities may have extended closures.

I agree. Perhaps the member can start his own thread specific to Thai bank interest rates.

I don't know how many banks have gone broke in the USA or Europe, nor do I care. Yes, in Australia, interest rates are over 5%. Paying tax on your interest depends on one's tax residency and amount of money they earn, in total. Yes, your figures are correct. 28,000 baht more than covers the cost of the agent, and then some. In Australia they are guaranteed as well. I do not trust the Thai government, but do trust the Thai banks, they just pay lousy interest rates, and MUST follow Thai government policy. Do you remember what happened in Cyprus some years ago, and "The Haircut." I am well aware that as a foreigner in Thailand I have no rights. The annual extension is no more than a 1 year tourist visa. I love living in Thailand. The climate. The food. The nightlife. The activities on offer. The beach. The list goes on, but that doesn't mean Thailand is a good investment for my "hard earned money." Yes, I use an agent, as do thousands of others do. There's a misconception that those who use an agent do so because they have not got 800k to move to Thailand. Many use an agent because their 800k makes more than what the agent charges back in their home country. It's always through bank interest, but also though managed funds and other investments. There are also other reasons why some use an agent. For example, I know an old guy here in his 80's and with mobility issues. He has the 800k in a Thai bank, but due to ill health he uses an agent. Of course, he pays less agent fees because he has the money, but uses an agent for a different reasons. What's wrong with that? I'll probably be on the golf course while you are waiting in a queue in an immigration office. That's fine. Each to their own. Just don't say your extension only cost you 1,900 baht when mine costs say 13,000 baht, because when you look at the big picture, your extension has cost you a lot more than 1900 baht, and more than the 13,000 baht I pay, and it's very "strange" of people to not see the bigger picture.

Tax declaration. Online deadline is 8th April, and in person deadline is 31st March. Or, use a tax agent to do it for you.

Meaning, some TRD staff may say one thing in one province, while other TRD staff in another province say another thing. We have already had a members post they have been given different information from different TRD offices in regards to obtaining a TIN.

Where does it say "Thai bank" in the thread title? I've just had a quick look at the first page of the thread. Cambodia banks and American banks were mentions. The thread hasn't been specifically about Thai banks from the start. If you would like to specifically discuss Thai banks only, why not start a thread about Thai bank interest rates?

Every year many people hit retirement age and have always wanted to retire to Thailand. These people would be looking for the best interest rate a Thai bank offers for their 800k. Even those already in Thailand would still be looking for the best interest rate, both in Thailand, and in their home country. I merely pointed out they do not necessarily have to move their 800k to Thailand to earn a pittance in interest, not to mention, they may now be taxed on that 800k remittance in the following year, further compounding their losses on the money. The thread title is "Bank Savings Interest Rates 2023." Where does it say "Thai banks?" It's very non specific. My advice is, don't move a lump sum to Thailand, not even the 800k for the visa / extension. The figures prove this.

You are correct. I kept it simple for, as another member said, "the really strange people out there." We could also factor in exchange rates, fees for the international transfer, and now, Thailand's tax on remitted funds. It all equals a retirement visa / extension that costs way more than the 1900 baht that many argue is the only price they pay.