CartagenaWarlock

I have three bank accounts. There are two in Bangkok Bank and one in Krungsri Bank. I have moved all the money from Krungsri to one of the Bangkok banks. Since 2024, I have stopped bringing money directly into my Thai bank. Instead, I use my ATM and credit cards for all transactions, including 7/11. I don't see any use for the Krungsri bank account. Should I close the account or let Krungsri close it for inactivity? Do you think, in the future, I may need the account? I can't think of any reason to keep it open. Any feedback will be appreciated.

I think they have, e.g., low balances and inactive accounts.

The problem with the third party is that they always aim for the presidency instead of building grass-roots support from the electorate in local elections, state elections, members of Congress, and then senators and presidents. Their first goal should be to capture the speaker role.

When LTR visa holders don't need to file 90-day, I don't see the use of 90-day at all.

For me, the best place is the Eastern Economic Corridor. Easy access to Bangkok; lots of beaches; lots of foods from different places; malls; hospitals; and, of course, bars disguised as brothels and some world-class cannabis lounges not available in the US either (maybe one in Hollywood)

The forum owners like this type of DIY accomplishment story because it makes them rich. And 80% of the members had to still travel 10,000 miles to live like refugees in a foreign land, possibly using a 'wify' visa.

This is a perfect example of how I view 80% of forum members (in the absence of proper data, I am using the 80/20 rule), and their only personal accomplishment is telling stories about their DIY adventures because their voices are not heard anywhere else.

Because they get jealous. They were lucky (not a personal accomplishment) to earn in dollars, but they had to travel 10,000 miles to live like refugees in a foreign land, possibly using a 'wify' visa. Because they don't have any other personal accomplishments in life, I noticed that 80% of members view DIY as a sign of personal accomplishments.

It is good for them to increase their earnings.

My friend drops off his passport and picks it up the next day. His earlier agent used to come to his condo and pick up the passport and deliver it too.

They don't earn in dollars.

I can't speak of Chinese students and their skill levels, but the Chinese are the ones putting up a space station, landing rovers on the moon, and leapfrogging in quantum computers and AI. Even with all the restrictions on acquiring tools to fabricate high-end chips, they were able to manufacture 7nm chips. Give them a few more years, and they will come up with 5nm and 3nm chips as well.

What a croc and lacking comprehension skills! I never said I was sharing with the needy. Please go and read again. I said unfortunates who don't have access to earn and invest in dollars. They are not the same as those who are needy or lack access to food, shelter, and clothing. I'm talking about people who have decent incomes in Thailand but don't have access to earn and invest in dollars. They have the same aspirations as people who have access to earning and investing in dollars, and I'm sure if they were in the US, their median income would be higher than European American's median income. So the only thing they lack is access to earn and invest in dollars.

What nice thing that would be! Maybe feeding the poor? With all the horror stories about visa extensions, waiting in lines for hours, waiting in the bank for hours, collecting all the documents, and updating the passbook at bank ATMs, I don't believe the outrageous claim of 30 minutes. But if you take pride in DIY and not in sharing your fortunes with others who are unable to earn and invest in dollars, it's up to you. I don't take any pride in doing DIY except earning money and sharing it with others who don't have access to earning and investing in dollars.

I believe money brought to the country for investment (like buying a condo) or keeping 800K in the bank for extensions, etc. will be exempt from taxation.

I don't know about the UK, but US FICA taxes are pre-tax deductions. That means you never paid any taxes on that money. In the US, only earnings from a Roth IRA are tax-free. But I'm not sure if Thailand will honor that unless it's specifically mentioned in the double taxation treaty (DTT). Social security is mentioned in DTT, and I believe the Thai government will honor that; otherwise, they will have a diplomatic row over that (not honoring DTT).

I used to maintain a Thai bank account with one million baht, but the daily withdrawal limit is capped at 20K. I used to get young teenagers from Poseidon Model Galley for all-night Hanky-Panky. In the morning, I will give my card and ask them to withdraw 20K and take their fees, and return me the remaining. To my surprise, not one girl ran away with 20K or tried to withdraw more than 20K. And they can see I have a million baht in my account.

It's spreading wealth to unfortunates who don't have the means to earn and invest in dollars.

Maybe you're jealous of their success and the usefulness that millions of their fans find in their videos. This is coming from a person who had to travel 10,000 miles to live like a refugee (year-to-year contract) in a foreign land, possibly using a "wify" visa, and whose voice is only heard in this forum and nowhere else on earth.

I don't believe in that. For me, updating passbooks in ATM machines, queuing up in the banks and IO offices, and genuflecting in front of IOs and their demands and whims for DIY is not an accomplishment in life. Not to mention the dollars you lose by keeping the money in a Thai bank. An accomplishment in life is doing everything using agents by spreading my luck (or wealth) to the people who don't have luck to earn and invest in dollars.

I have a flight from Koh Samui to UTP at 11 on Monday, February 26. The full moon party is on Sunday, February 25. Is it possible to catch the ferry in the early morning at 8 a.m.?

If somebody lives on withdrawing from ATMs only, it is possible for the RD to track the total of ATM withdrawals, but is it practical out of millions of transactions between tourists and non-tourists?

By 2100, robotics and AI will take care of GDP. Countries like China, Japan, Thailand, etc. will have severe issues because of negligible immigration. The migration of Indians from the Indian subcontinent will silently conquer the USA (replacing European Americans with Indian Americans), and Western Europe will always be vassal states of the US (the USA has to take care of Europe's security so that they can run their nanny state paradise). 12% of the CEOs of the S&P 500 are now first-generation Indian Americans, and more C-suite executives are waiting in line to replace European Americans. By 2100, I bet 80% of the CEOs of the S&P 500 will be Indian Americans. The US will retain its dominance and economic might in the world due to immigration. Of course, there will be roadblocks, but America will overcome them.

OMG, what a convoluted way to live in a foreign country! If I were him, I would get an agent and pay him 12,500 baht (Pattaya rate), park my money outside Thailand to get at least 5% (40K for an 800K deposit), and share my luck of being able to access dollars with unfortunate people who could not do so due to no fault of their own. "Win Win" for everybody.

I don't believe social security is free from taxes by foreign governments when the US can tax social security. It's been a long-held IRS policy to deduct any foreign government taxes from your US tax obligations, and I have done so (non-SS incomes) in three countries. https://www.ssa.gov/international/AlienTax_reference_2.html#:~:text=Taxation of U.S. Social Security,Washington%2C D.C.%2C for information.