roger buttmore

33 minutes ago, TheThai said:

I personally use transferwise and EVERY single transaction for the last 8 months has FTT.  I'm transferring from a U.S. bank.  Maybe it's possible from other countries there are other methods used, I cannot speak to why or how those others got other than FTT codes.  But until I see something other than FTT on mine I will continue with transferwise. 
 

I'm of the same experience and thought plan as you, although I am British.

All Transferwise transactions sent to my Bangkok Bank account from my GBP Borderless TW account have been listed in Bangkok Bank statements as 'International Transfer'. This has been the case for over a year, no other description has ever been used. So I'll carry on as I was, apart from ensuring the deposited amount equals or exceeds B65k each time.

This confuses things even more. There are numerous gaps in the description which render it even more uninformative than the initial statement made by the big man. Anything new, or of any interest, or of substance, is sadly non-existent. Just more doubt and more questions left unanswered.

I agree with those above who suggest getting rid of this whole thread altogether. Next time focus on the pertinent issues, rather than breakfast.

On 4/7/2018 at 10:43 AM, gamini said:

note b. is illegal!

No, it is not illegal. You won't go to jail. 

Using an agent who operates within the rules can be a major convenience for many, including immigration officers, as it can alleviate the workload within the immigration office. Agents serve a valuable purpose for many and simply suggesting that an agent route is illegal indicates a lack of knowledge or thought. Not only those who are unable to make the physical journey to an immigration office themselves can be convenienced by use of an agent, but also those who abide the officialdom, or are simply too lazy to perform the task themselves. To many people the cost of an agent far outweighs the inconvenience. Not all agents are crooked, just like not all farang wish to visit immigration.

2 minutes ago, TheThai said:

The way I understand it.  Checking of the 3 months after and the 400k balance remaining in the account will be check on the next renewal.  So if you violate those requirements you will be OK for the full year of that extension BUT when you go to extend again and show your new set of bank statements and it is noticed that a). you didn't have 800k for the 3 months after your prior extension or b). Your balance throughout the year went below the 400k ... you would then NOT be eligible for another extension renewal. 

Although there's nothing anywhere (that I've seen) to suggest that what you say is a fact, I too believe that this will be the method used for verification of finances for retirees.

To expect immigration to perform multiple money verifications over the course of the year is ludicrous, but I suppose nothing here in Thailand should surprise anyone anymore. Apart from anything else the time taken by IO's to nitpick through some farang's bank statements would clog up the offices, nevermind for those guys who stepped out of the country and re-entered causing their 90-day checks and financial checks to fall out of alignment.

Common sense would suggest that an annual verification prior to extension would be the way forward. But I learned to stop holding my breath in Thailand.

11 minutes ago, observer90210 said:

...is the damage not already done with all the other hassles and issues against expats, foreigners or farangs ?

They want tourists, they just don't want foreigners hanging around outstaying their welcome without the necessary funds to do so.

9 minutes ago, Otis Cribelcoblis said:

And with all that blather, not one response to my question.  

The quality of the answer is dependent upon the quality of the question.

There will be those expats who live out in the boonies who don't go anywhere near an online forum, have Facebook, or read the news enough to notice a specific article which will heavily impact them. They will arrive for their next retirement extension in a state of ignorant bliss. It's then they will be in for a shock.

At least those who post, and the masses who read but choose to never get involved in the viper's pit of clever-dicks by posting, are forewarned. Whether they are forearmed with the necessary funds is another matter altogether.

2 minutes ago, watcharacters said:

 

That's pretty harsh.

Don't believe everything that's written in that tone. It's the ones who are on their way out due to the latest changes who have the bitterest taste in their mouths.

However, the old mantra should always apply; never invest more into Thailand than you're prepared to walk away from. I certainly wouldn't buy a condo here. The goalposts move over time too, so try not to become overly dependent on this country in case they become unattainable or unacceptable to you.

On 2/4/2019 at 2:31 PM, jensmann said:

hey, not the thai officials cause the problem. it's the farang not following the rules, using illegal agents etc. causing a reaction by the authorities.
who is using his own money for 3 month can also use it for 5. not a big change.
illegal out - honest in !

People lying with their affidavits and embassies failing to verify is why the Immigration Bureau have made the changes.

The farang and their embassies could not be trusted so they've taken it into their own hands, also taking the opportunity to make changes to weed out disreputable agencies while they're about it.

48 minutes ago, BritManToo said:

I suspect there aren't many people in the world with a year's spare cash floating around their bank accounts.

Let alone pensioners.

 

It's not exactly 'living on a financial cliff', as you put it, it's normal living in the modern world, hand to mouth.

Next you'll be suggesting all the business in the world should be keeping a years stock, try telling that to a supermarket or car factory manager, they'll laugh in your face.

You clearly didn't read what I'd posted before you commented, or you're deliberately trying to put words in my mouth.

I said 9 month's worth of monthly outlay, not one year, And I never mentioned anything about businesses at all. You're making things up, just like many used to do with their affidavit declarations, which is why those on a financial cliff-edge now have crumbling terraferma beneath their feet.

Some retirees say they satisfied the financial requirements leading up to these new changes, but now they don't. With the rules for B65k per month being unchanged, their panic must have arisen from the additional 2 month's seasoning and minimum B400k for the remaining 7 months.

The total difference between the before and after is 9x their monthly outlay, once, to get things back in line.

Living on such a financial cliff edge for so long with zero flexibility or safety net must be very uncomfortable.

I do feel pity for them.

9 minutes ago, JackThompson said:

We have no idea if 90-day reporting will be connected to bank-balance checks - but agents do offer a 90-day reporting service, which could become part of whatever new package-deal is rolled-out.

It hasn't as yet been explained, but I suspect the 'verification of funds' will form part of the following year's application process to extend further. Where applicants are required to show a complete year's worth of necessary funding of B65k p.m., or the relevant B800k seasoning and minimum B400k.

Apparently, leniency will be applied as a one-off for the first renewal under the new changes.

This is an extract from an Immigration Bureau Memorandum, dated 4 Jan 2019:

" .. since this is a new rule, some of the aliens are not able to prepare to provide such evidences, therefore, to mitigate the adverse impact among them, from 1 January - 31 December 2019, immigration officers shall proceed as follows:

1. Regarding the retirement case where the income (pension) is transferred after retirement year, the bank deposit and bank statement from Thai bank showing monthly transfer to the applicant's account may not cover 12 month-period, the officer shall consider the case based on relevant laws and regulations mutatis mutandis.

2. Inform aliens as prescribed in 1. that: the next visa extension application must be supported with complete sets of documents as aforementioned. Then record the evidence that the officer has informed the applicant."

Compulsory medical insurance will be next, so it isn't over yet.

Old Kev in Thailand did a video about the place a few days ago.

I live about 250 yards away and his video saved me the journey.

I retired to Pattaya from the UK 7 years ago and for the first few years I used to withdraw money directly from my UK bank account using my UK bank debit card at Thai ATMs, drawing out the maximum allowable per withdrawal in order to keep the ATM fees at a minimum. Not only was this method a very cost in-effective way of getting hold of my money from the UK, but I used to shudder every time I made a withdrawal at the ATM in case the process failed, or worse still, the ATM swallowed my card for some reason meaning I'd need a replacement from the UK.

Then, I began using Transferwise as a means of transferring money directly from my UK bank account to my Bangkok Bank account, which was much better. The ATM withdrawals were then made using my Bangkok Bank account ATM card, so never worried if the machine swallowed the card as it was a 5 minute walk to my local branch to obtain another. The problem with this was when Natwest Bank (my UK bank) introduced increased security checks for international transfers which required a 6-digit code to be sent to my Thai telephone, sadly not via SMS, the only option was audio and I needed absolute quiet, a pencil and paper, and full concentration so as not to miss this one-time code. If I missed it or got it wrong the transfer failed and my account was locked. 

Then, a year or so ago, I opened up a Transferwise borderless account and I'm now living the dream. The international payment side is handled solely by Transferwise. For security, when logging on to their website, the 6-digit security code is sent via SMS. Easy peasy. Payments from Natwest to my borderless are not international as the borderless account is within the UK, now zero security checks from Natwest after setting up the online payment process.

These things always depend on personal circumstances, home locations, expat, holidaymaker etc., but for me the Transferwise setup works really well. I love it.