MikeN

4 hours ago, VocalNeal said:

Mike do you want professional tools or homePro?

Considering he was asking in September 2005 it’s probably irrelevant now ..........

????

I can say that Westpac’s internet transfer to Thailand is probably the best I have tried, and their call line was quick and effective the two times I have had to call. One thing to check is “will the bank send SMS security codes to a foreign phone number” As of mid last year Westpac would only send to an Aus number, but I still have my Telstra phone number so no problem for me.

Did you withdraw online ? I think you will find NBK W/D is the Bangkok Bank code for “non book withdrawal” to match the non book deposit.

 Oops....my typing is too slow, already answered.

At least they still do it, the Australian embassy will not confirm our addresses for banks, driver license, vehicle purchase and registration, etc. Wonder why they needed that big new building, certainly not to fit in many clients.

I went into the Bangkok Bank branch between Nana and Asoka BTS today hoping to open another account just for my spending money while I keep the 800,000 visa money in the existing account, as I originally opened one there 5 years ago on a tourist visa with no proof of address or anything.

 Even though I already had an account with them now I was told that I did need either a certificate of residence, a tabbien baan if I owned a condo, or a Stat. Dec from my embassy. The staff member knew his stuff as when he looked at my passport he reminded me that the Australian embassy will not do Stat Decs for address confirmation anymore.

 Then he really surprised when he told me that foreigners can only have one ATM linked account now, a new regulation from the Bank of Thailand apparently. Never heard of that before ? They get a lot of foreign customers at that branch and he seemed to know what he was talking about.

 He suggested that I get a Certificate of Residence, then come back and open a fixed/term deposit as they don’t have an ATM card. I declined that as I don’t really want to traipse out to CW right now, and being on the extension countdown clock already I am wary of transferring the money out of this account into a new bank book. Even though the money stays in the bank it might confuse Officer Somchai .......

 I might wait until after the post-extension 3 month freeze, withdraw the permitted 400k and add another 400k from home to give me 800k term deposit ready for next year.

 I also wonder, if the bit about only one ATM card is correct, how do they keep tabs on foreigners opening accounts with more than one bank ?   

30 minutes ago, overherebc said:

Question on that one.

Wouldn't you have to conform to the conditions for the first extension throught that year meaning retain the 800,000 for the first three months etc.

Only on 2nd application and approval based on income could you remove the 800,000?

Edit.

As yet I'm still not clear on the way they will check the retention of the 800,000 after 3 months etc unless at 90 day reporting.

If you travel a lot you can spend a long time never having to do 90 day reports.

You can also do your 90 day online where they would never see you, so I doubt they will actually be checking until you do your next extension. If they see you did not abide by the conditions of your visa, ie you did not keep the minimum amount in the bank, then they have grounds for not giving you an extension.

 When I do my next extension in May I am expecting them to give me yet another form to sign, acknowledging that I have to obey the new rules.

I don't suppose you asked them to clarify the reason for leaving 400K in the bank ? I know many are assuming it is to cover any medical bills, but what happens if it is and then you do use it for a hospital bill, or whatever its supposed use is?

If it is just dead money they might as well just charge us 400,000baht for a visa and be done with it.

18 hours ago, Sheryl said:

He seems to mean an amount equivalent to what people pay into SS. Not going to happen. that scheme gets by on that amount because the majority of people it covers are comparatively young, active working people.

 

Letting expat retirees pay their way into it is a good idea but the premiumnwould have to be higher for people newly entering at age 50+ than for people who entered the scheme while employed.  There is no indication that this is under consideration, though. It would be more likely that government might eventually let resident expats pay to come under the "30 baht" scheme as they already do this for migrant workers from neighboring countries. They'd have to figure out an appropriate premium first and that would take some research.

On the other hand, the contributions made by “ young active people” also help fund the pension part of the SSF, miserly though it is. Any payment by retirees would only be for medical coverage. I would also argue that those young active people are more likely to be involved in expensive hospital stays after a motor bike accident or other incident, while a retiree probably lives a more sedate and sensible life ? By the time you are 60 or so you should have realized that you are not bulletproof and have acquired more common sense than the average young local.

 What is the road accident and serious injury rates for 65yo retirees and 25yo Thais ?

 Also some retirees would not collect on this compulsory insurance as they would not be satisfied with a government hospital , and would take out private cover to get treated at a better private hospital.

 And of course, a retiree contributing on the basis of a 65000 baht/month income would be paying in more than most Thais do ?

 Yes it would require some actuarial research to get the right premium but I suspect it would be close to what I suggested.

1 hour ago, jacko45k said:

Then I could/ would dump my medical insurance?

If you would be happy to use the local government hospital, then yes.

 But if you expect to get a private room in a private hospital, then no.

 Retirees are expected to have an income of at least 65000 baht/month so why not have them pay the same amount into a health insurance scheme as an expat working here on the same salary would pay into the Social Security Fund.

 But that’s too simple, so IF they ever introduced compulsory insurance I am sure the powers that be would find a way to stuff it up.......

3 hours ago, LucysDad said:

 

Indeed Jacko...... and EVERY comparison that I have done shows TW to be more cost-effective.

 

I wait to hear if Chivas has a better option.

As I mentioned in a similar topic recently, last month I transferred 2 lots $1500AU through  Transferwise and my Australian Bank (Westpac) as a test. Although the Transfer-wise FX rate was better and the final amount known and fixed, their fee structure was more expensive than the bank’s fixed fee. The end result was that I received 800 baht more from the bank transaction than through TW, with larger amounts the bank would have been even more cost effective overall because of the fixed fee.

 Also, even though I did the TW transaction a few minutes earlier, according to my bank book it arrived here a day later than the money from the bank, even though I use Bangkok bank here which is apparently their local partner.Not that it was important this time but something to consider perhaps, especially if you use another Thai bank which would require another domestic transfer.

 So in my case, TW is not the best option but as always, YMMV ......

9 hours ago, Huckenfell said:

So why does it only pollute Bangkok.

AQI in Bangkok ( Bangna) 68.

AQI for Ubon at the moment ......144

For Udon Thani .....160-170

P’lok .....153

Lamphun ....120

Kanchanaburi ......129

Loei ....134

Still think it only affects Bangkok ?

You cannot buy a cord like you show because it only has one socket. That might be OK in the US where you probably have plenty of powerpoints on the wall, but here you often have one power point and then need power boards piggybacked onto other power boards, each with fans, rice cookers, recharging iPads and phones taking up every available socket. That’s why your cord will not sell here, at any price.

8 hours ago, Khaeng Mak said:

I am not talking about an investment visa.

 

I am talking about retirement extensions.

 

We now have to have a minimum of 400K deposited in a Thai bank all year.

 

Why can that money not be invested in another asset besides cash.

 

For example. the ssrv retirement program also requires a cash bond, but you can use it to buy a condo.

Well nowhere, to the best of my knowledge, have they explained the reason for the 400k but people are assuming it is to cover potential medical expenses or similar.

 If this is the case, are you going to pay your hospital bill in condos? Do you expect them to wait a year or so until you can sell it ?

 The current 800k required has to be in an accessible account, so I cannot see them accepting a condo as accessible cash .......

Rangoon creeper, or something like lep mue nang in Thai, grows like a weed and are easily available. Does not grow too thick and heavy, unlike Bouganvillea, so you don’t need a really strong structure to support it.

On 2/2/2019 at 10:48 AM, Lazybones said:

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Don't know where MikeN got his figures from but to send Westpac A$ the fee is $20 on their website - Sending Australian Dollars via Westpac Live Online Banking: $20.

 

I got it from their website, and I have just double checked my last few transactions ..... $5 fee.

Edit : on checking their products info page it does say $20, but it definitely only cost me $5/transaction for the last year or so. Guess they have not updated that page? But if you start a dummy transfer it says $5 ........

 It used to be $20 but they reduced it about a year ago, not long after Transferwise started undercutting them !

Thanks Tagaa, was this in Ubon ? If so, which branch ?

3 hours ago, cliveshep said:

Use Transferwise if they are in Australia, low fixed fees, better exchange rate, and no Bangkok Bank fees. Just signed up and done my first transfer from the UK - cost £5 sterling instead of close to £39 comprising exchange rate rip-offs, UK bank charges and Bangkok Bank charges.

 

Wish I'd done ir before, wasted so much money on Bank charges and poor exchange rates over the last 3 years.

 

Obviously it depends on your bank’s fees, but I recently transferred equal amounts from Australia via Westpac and Transferwise. Westpac charge a flat $5 if you send Aussie dollars (always best to do ) through internet banking, plus The BKK Bank fees, Transferwise have a sliding scale fee so I paid 16 dollars approx. to them.

 Net result was I got around 800 baht more through the bank than through TW, and it would get better with a larger transaction.

If you have the right visa details entered on your file you can open online, but as I opened my account when on a tourist visa I have had to make 3 trips into the branch and every time the paperwork has been mislaid, they take another copy of my non-O visa, say come back in a week .....to find another staff member sitting in the chair who knows nothing ....start all over again.

2 hours ago, lucjoker said:

wrong, read it more careful !

I suspect that English is not your first language, so it's not surprising you cannot understand the local version of English ..... but you are completely misunderstanding it. Nowhere does it say you have to bring in 800,000 every year ....one option is to bring in 65,000/month but if you are using money in the bank method then its 800k for 2 months prior and 3 months after your extension, and a minimum of 400k for the next 7 months when it starts all over again .....bring in 400k or more to get you up to the 800k level again.

5 hours ago, sfokevin said:

The 2 months rule is for your first extension and thereafter 3 months prior for subsequent extensions...

But that's not what it says in the story or the "official" criteria ;

4) At least 2 months prior to filing date, and at least 3 months after being granted permission, the alien must have fund deposited in a bank in Thailand of no less than THB 800,000. 

Does not specify that this is only for the first extension of a non-O, and if this was just for the first extension would n't it also mean the rest of the rules also only apply to a first extension ?