OMGImInPattaya

4 hours ago, mtls2005 said:

 

You should check the SQ/SKL lounge entry requirements, which trump the Star Alliance "rules".

 

I still think you need to be *G if on TG in J (unless you've got the requisite Silver Kris status)?

 

But give it a go and report back.

 

 

Will do...I was just checking if anyone might know definitely one way or the other.

I saw on Thai's website that other *A Biz flyers are allowed into Thai's Royal Silk lounge and *Gs can use the Royal Orchid lounge.

I will find out next week.

2 hours ago, inThailand said:

Yes! After 15% tax on the 3.25% your net annual rate is 2.6%. But I don't believe this is a risk free product.

Good point. I'm curious in what sense do you think it's not risk free. Is it a bank deposit or is one actually buying into a non-bank investment fund of some type or life insurance product? Is the risk from bank/insurance company failure or market risk from the investment fund returns?

I forth or fifth the slagging of BBL...I have not been particularly impressed with their service at accounts I had in Bangkok or Pattaya. Their ATM network also is a bit thin on the ground. They almost act as if it's a privilege they let you bank with them (i.e., lend them money at virtually zero interest). I prefer Kasikorn, Krungsri, or Siam Commercial, where I have accounts. Siam and Krungsri have useful and easy to use mobile banking apps, while Kasikorn has their K-web virtual Visa debit card, which comes in handy for web transactions. 

I shall have investigate what Krung Thai has romoffer, as several members seem happy with them too.

4 hours ago, Crossy said:

Can't say for certain, but since Thai have a perfectly good biz-class lounge at Swampy one suspects SA will send you packing unless you have SA tickets.

 

Do you have a Thai or SA frequent flyer card?

I think I've been spoiled by the Emirates lounge...I haven't flown Thai in over a decade.

Singapore and chose KrisFlyer for mileage accrual for this flight.

3 hours ago, inThailand said:

10% the first year. Its called a teaser and works on folks who can't add two numbers together without a calculator.

 

The blended rate is 3.25%. Which ain't bad. I have been offered risky fund accounts around that rate. Are sure it's an annuity?

 

I would hazard a guess that 50% of those who sign up withdraw their money early with very high penalties.

As I mentioned, after some prodding, the bank manager said the internal return rate is 2.6% per year. I sort of look at it as a "front loaded" 10 year fixed term deposit, with the interest payments larger during the first couple years. 

They don't want to use the meters because the rates are too low...how is operating a taxi more expensive in Pattaya than Bangkok?

1 hour ago, geriatrickid said:

No, you are not allowed entry unless you have at least *A Gold status and are on a same day international flight ticket.  A business class ticket  only allows access to the ticketing airline's designated lounge.

 

Do you know this from personal experience...because *A states the following on their website:

Lounge Access Policy

We are delighted to welcome customers to our own Star Alliance branded lounges and the lounges owned by or contracted by our member airlines, according to the following access policies:...

International Business Class Customers are entitled to access member airline Business Class Lounges. You will need to show your boarding pass in International Business Class on a Star Alliance member airline operated flight departing from the local airport. You are not entitled to bring any guests.

http://www.staralliance.com/en/lounge-access-policy

I could certainly understand such a restriction...who flying on Thai wouldn't want to use the new SQ lounge in place of Thai's crowded lounges.

Thai and Singapore are both *A members...can anyone confirm that a Thai Air biz class passenger can use the SilverKris lounge at Swampy?

1 hour ago, fletchsmile said:

I suggest:

 

1) you get a full illustration of the exact cash flows, so everyone is clear exactly how much is paid in and how much you receive it year

 

2) you understand exactly what the insurance element is. What does it actually cover? When/ under what circumstances does it pay out?

 

Based on what you've written:

 

- while the first year sounds very nice at 10%, and the second year sounds OK at 5%, third year is passable at 3%, 2.5% in 4 years time doesn't sound great, and do you really think 2% is a good deal for the final 6 years?

 

Notice how they pay the largest % on the smallest amount. i.e 10% on 1Mn at the start, but it sounds like 2% on 5 Mn for the final few years.

 

A simple weighted average of what your getting is around 2.X%, which is of course much closer to the 2% when you've put your total 5 Mn in and have to leave it there for the last 6 years - assuming you pay in advance

 

Average 2.X% for 10 years doesn't sound like a good deal to me.

 

If anything Thai interest rates are more likely to start rising in the next few years. Slight possibility of further very small decreases, but at some point the Thai Monetary Policy Committee will start raising rates during the next 10 years.

 

What's the credit risk on the insurer? What if they go bankrupt? Bank deposits are guaranteed by the deposit protection act.

 

Can you really afford to tie your money up for that period of time/ 10 years and does it really make sense to do so? What if an emergency crops up and you need the money back?

 

2.X% for 10 years money tied up and the inflexibility isn't something appealing to me - bearing in mind we're also towards the low point of the interest rate cycle.

 

Might possibly appeal to some people though.

 

BTW If you are working in Thailand and paying tax, then you may be able to get tax relief on some of it which would make it more worthwhile. You wouldn't get relief on anywhere near THB 1Mn though. Think more of top rate tax payer paying 35% tax and getting relief on 100k.

 

That makes much more economic sense. It needs to be a qualifying scheme for a minimum of 10 years. Again check that it is such a scheme. For non-taxpayers/ without tax relief it isn't really that attractive

 

Cheers

Fletch :) 

 

 

Thanks for the good suggestions...it's hard to get good answers from the manager due to the language barrier (though she does speak decent English) and the fact the documentation is in Thai. It's kinda comical because they like to tout the VIP aspects of the program (special parking places at bank branches, que jumping, reserved parking at shopping malls, airport lounge privileges, fast track immigration, etc...stuff that would appeal to a Thai's ego. She was kinda deflated when I told her I always fly business or first so all the airport perks were useless to me.

When I ran my rough calculations above by her, she said the IRR  was 2.60% per annum for the 10 year period. What galls me is that the spreadsheet they provide lists "10%" as the interest rate for each year 1-9 when in fact that's only true the first year. They even have the gall to list a "450%" rate for year 10 (which of course is just the interest payment that year plus the return of the principle). I mean, even I'm not that dumb...but some people must be.

The one thing I have learned is that if someone, especially a bankster, is trying hard to sell someone on a financial product, it's very likely a good deal form the bank and a lousy investment for the client. I think I'll pass.

I'm actually thankful...could you imagine the crowds if Pattaya/Jomtien actually had a decent beach. And I didn't move to Pattaya for the beaches...it was for the temples.

So what's the deal on these Thai bank annuity/insurance products? Every year I get a call from my bank manager touting these products and their "good" deals. There must be some fat commissions on them as she sure pushes them.

This year, for example, my bank is offering "10% interest" on a 10 year annuity. Deposit a set amount each year for the first 5 years, say 1M baht, and get 100k interest a year (tax free) . In years 6-10 there is no payment but the interest payments continue.

My back of the mobile calculation has the annual yield as follows:

1 Year 10%
2 Year 5%
3 Year 3%
4 Year 2.5%
5-10 Year 2%

They also throw in for free their premium Visa card with its host of benefits and a life insurance benwfit. Has anyone done one of these before...any good?

8 hours ago, tropo said:

 It's going to tough to find them. I didn't make a copy of the link... I will try to find it, but surely you don't think I'm lying to you about it.

 

Maestro sums it up best here: 

 

 

 

 

Well I wouldn't put much stock in that quoted post as it's clearly wrong on its face...the law (and the commentaries on it) clearly states it's the landlord's responsibility to report on foreign occupants not the tenant's.

In any case, as in all these matters, if the interpretation and enforcement of this law changes in Jomtien we will all just have to follow along.

1 hour ago, tropo said:

There have already been reports of people being fined for not reporting after re-entry (at Jomtien).

 

They even posted a notice (at Jomtien) saying that foreigners need to report within 24 hours of arrival.

Can you cite any such reports? Out of curiosity,  for folks on annual visa extensions,  what would be the point of reporting? When they return to Thailand,  they're logged in by immigration at the point of entry and their address/residence is already on file.

Like I said, things can change at any time...but in my case, as of a few weeks ago, my experience was as I reported. I'd be curious to see this posted notice...I'll see if I can find it in 70 days or so at my next report.

Best not to travel in rainy season unless absolutely necessary, especially to unknown ateas where one is unfamiliar with the high and low ground areas.

5 hours ago, thaibeachlovers said:

The TM 30 is now used when reporting 90 days as part of the proof of residence.

I think you are talking about the form filled in when arriving in the country.

 

Times are changing. What was acceptable is no longer. Do not complain if you get fined next 90 day report for not filing TM 30 within 24 hours of arrival at your residence.

 

Perhaps you can get away with that at Jomptien- not in Chiang Mai.

I don't know about times changing or how offices other than Jomtien do things...all I know is my personal experience. I stay in Thailand on a non-imm annual visa extension; and have been in the 90- day reporting system for several years. As I've done before, I was out of the country, this time for 16 or 17 days, and my 90-day report deadline fell during my absence. Upon my return, a new 90-day reporting cycle commenced the day of my entry. 

A few days before the 90 days were up, I went to Jomtien immigration and completed a new 90-Day reporting form (the receipt from my prior report still being stapled in my passport). The 90-Day reporting officer took my passport and new report form and said they didn't need the form...that they could just enter me reporting that day using the expired receipt because I was already in the system. 

So a tip for people in a similar situation, and reporting at Jomtien, you don't have to make a new form if you still have the receipt from your previous report. After a couple minutes, I was finished and there was no mention made of anything else, i.e., needing to report my return to my owner occupied house within some set period after my arrival back in country. Of course, things can change at any time, however, I will continue as I do until reports to the contrary start coming from Jomtien immigration or I do indeed get fined.

Isn't commercial pepper-twins illegal in Thailand? Maybe mix-up some homemade brew of water, vegetable oil,  and cayanne pepper in a spray bottle to carry around.

Public defecation is a thing in India too...so we can provably look forward to more of this as the Chinese and Indians make up two of the largest visitor groups to Thailand. Another cultural enrichment experience courtesy of globalization.

1 hour ago, Kaoboi Bebobp said:

Here's another link that (I think) got trashed in another thread. It's not a bad summary of the newly enforced requirement for the TM30 after travels. 

 

TM30 Reporting requirements for hosts and travellers

 

 

The key is the statement at the end that different imm offices interpret the rules differently. 

Also like the  comment that Canadian parolees have fewer reporting requirements than foreigners in Thailand.

2 hours ago, novo58 said:

It seems to depend on the office you use ( like many things here). My experience is almost 12mths old now but last year I left the kingdom and when I returned this was a HOT topic...so I went to my local office ( Udon Thani) within 24hrs to report my RETURN to the same address I had used for the previous 3 years of ( retirement) extensions of stay/90 day reports / arrivals card etc.

Imm officer looked at the paper and threw it in garbage saying " not needed if returning to address we ALREADY have on file.

 

But as I say ....different offices ---different rules. Why not just ASK at your local office.

Probably a waste of time because as the PCEC example shows, if you ask 3 different IOs you'll get three different answers.

5 hours ago, Kaoboi Bebobp said:

So Thaiflyer1 was out of country more than 30 days and had no problem. Cool. 

 

Question to OMG: Were you out of country more than 30 days? 

 

It's looking like there's been a lot inconsistency at Jomtien, with guys having to file the TM30 and some not having to file. TiT

 

Let's try to get one thing clear: All you guys reporting with a TM30 or not, are you all on 1-year extensions? 

Less than 30 days.

31 minutes ago, thaibeachlovers said:

1. If one travels WITHIN Thailand and returns to Pattaya, does the owner have to report me again within 24 hours as having returned to the same address? 

Not if you didn't check out and did not stay in an hotel under your own name. If not, how would they know?

If you did check out, or had a TM 30 made at another address, then IMO yes, to be on the safe side. It doesn't cost anything.

 

2. If one travels OUTSIDE Thailand and returns to Pattaya, does the apartment owner have to report me again within 24 hours as having returned to the same address?

As you are on the computer as having left the country, IMO absolutely.

As for the address on the TM form, I don't believe they are used by immigration to track anything, let alone peoples' addresses/locations ( I don't think the info is even entered into their computers). Why do I think this...usually I just put down my street name and "Pattaya" on the form...hardly enough to track anything. I think the information is actually for the TAT  to generally track where visitors to Thailand are going.

As for #2...In my case, I'm on a retirement extension and own my own house. Like I said, on returns after international travel, I have never reported my returns until the 90 day deadline after my return nears...most recently just a couple weeks ago. Maybe if someone has a different visa status or in rented or multi-unit accomodation it would be different but I can't see why it would be.

2 hours ago, Jeremy50 said:

OMG. Maybe there should be a turdtax in this effluent s***hole.

I would hazard a guess the e-coli count in the average Pattaya swimming pool is higher  than the water at Pattaya beach. 

4 hours ago, Ace of Pop said:

Where you live Arizona.?.You cant use it safely from say Bkk to Pats if its buisy or the safe gap it leaves gets 3SUVs cut in in seconds. Makes most folk careless i find.?


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

Name's not "OMGImInPhoenix" ?

All the time on 7 and 3 to Bangers and back. No problems... medium follow distance and off we go...arrive at my destination much less tired from stress. It actually makes driving expressways fun again.

For me, the 1/4 cost of living compared to other beach destinations like San Diego, Miami Beach, or Nice makes up for the dirty beach and sewage. Others will feel different.