municipalstroller

Yes, I would think that explains the media blackout others have referred to as it's the only logical response. A very helpful update, and if that's the information being made available to public-facing staff, it must be somewhat chaotic behind the scenes.

A few more reports from reddit: "Recently Kasikorn blocked me from using the App. If I wasn't with my girlfriend at that time, I would have been stranded with no way to pay for anything. And why did they do this? Just to force me to come in and check if my documents/Visa is still valid. Which, for some reason, took an hour to do. Today I've been blocked again, just a few days later, because apparently now they also want a face-scan." "even if u have everything perfect like me you can still have problems with kasikorn i have everything set up face scan, correct visa etc but face scan doesn't work at all and obviously the staff have no clue how to fix it so now i have a bank that allow me to maximun pay 50k a day with a limit for transaction at 20k basically is useless for me while with SCB the system keep detect that my name on sim card and bank account are not the same and again everything is correct" "I am at scb with all legit visa and paperwork, never received a message and was blocked last week" r/Bangkok/comments/1m5bma8/kasikorn_mismanagement/ It sounds like an ongoing liquidity crunch in the banking/FI sector, temporarily mitigated by the use of controls and arbitrary account freezes. It's too disproportionate to be justified by fraudulent activities. That raises the question of what could be causing an event like that. I see a number of posters in that thread advising multiple account openings. Again, I'd caution against relying on that except as a very short-term solution. I would expect platforms like Wise and Revolut to be required to comply with the national laws and regulations.

When China introduced similar controls, one of the measures was a requirement that each individual hold one single personal account. Perhaps worth a mention in case that's added to the Thai system.

I would think this is related to Chinese nationals and the ongoing collapse in real estate there, to debt levels in the region and to the new reality in international trade relations. Last week, I noticed an interesting thread on r/thailand about a landlord with exposure to China who has run up extensive debts and is now facing collection: "Few years ago she announced that she might sell the house and that she will let us know when. Then she said that we can stay that she decided not tp sell. But then 2 years ago we got a mail from a court case that basically says that she owns like 180 million baht in just one case, there were more cases. Today some people came to take photos of the outside of the house. So it seems to me that the bank wants to seize the house." https://reddit.com/r/Thailand/comments/1m219sy/landlord_owns_money_to_the_bank_talking_about/ These are the most debilitating capital controls I've seen anywhere so far. What's most revealing is that the funds being frozen aren't limited to those with outstanding debts and foreign passports, everyone is being caught in the dragnet. As a policy approach that's unlikely to change, making the country a high risk for anyone with any assets whatsoever. Thanks to all who shared their experiences, it's very valuable information.

Is this out of the blue or has there been an ongoing, gradual introduction of similar capital controls? As you say, this is so low it's not functional. It appears to be a polite way of telling you to show yourself to the door.

Yes, I'm keeping an eye on those changes but at the moment and even if fully implemented as described, for me it would still be a significant net saving. Plenty to keep an eye on though.

Not for long. I'm keen to leave Europe, and I have spent a long time in neighbouring countries. Thailand is interesting to me in terms of overall lifestyle and tax, hence the application for the Privilege scheme. I'd be learning the language from scratch. I know t-shirts won't be hard to find, but I don't have anything more formal that isn't wool with lining. Assuming I'll find a tailor, I was really asking if that or anything else would need to be done in Bangkok. Ideally, I'd like to rent a small villa over a condo. That implies not living in the capital, but my sense is that the number on the market at any given moment in Phuket or Hua Hin isn't that high, so I'm not ruling out spending a year in Bangkok first. I'd heard some mixed reviews about the level of assistance from the Privilege staff, so I thought asking on a forum with experience would be a good start.

Thanks @DrJack54, seems like a reasonable plan then. I'm having a good look at the banking thread you linked now.

Hi forum, I've been approved for a Privilege visa, and am making plans at the moment for the move. Not sure this is the perfect thread, but rather than start a new one I thought I'd try a post here to look for feedback on the below: - Book a three week trip to get started: - Spend some time in Bangkok, Hua Hin and Phuket. Look at a few rental options in each, sign a contract and secure somewhere to live. Considering offering one month deposit + three upfront, rather than the usual 2+1. - Open a bank account - I have some doubts as to whether this will be possible initially, as my understanding is the bank account depends on having a Certificate of Residence, which in turn depends on having a successful 90-day report. I'd like to do it asap. - Return to my current base for a week or two, close things down and return to Thailand and the new rental - Driving Licence: as the Thai process doesn't look to arduous, I thought I may just sit the tests required. Perhaps there are a few differences in the Highway Code-type rules I should know about too. - Motorcycle Licence: I don't currently have one, but I would get one if living in Hua Hin or Phuket, and do that at the same time as the driving licence. - Tax registration: although non-working, I understand I'd need to register and declare divestments into THB. - Personal goods: I have some boxes in storage which I'd eventually ship over. I assume that would require registering with Customs and paying the import duties. - Plugs & cables: I currently have EU and UK plugs for my devices, I don't expect any issues and I'm not currently aware of any better options. - Working out: I keep things simple with two dumbbells, which I'd replace on arrival. No issues to buy them in any of the places I mentioned above, I assume. - Hot weather clothes: visit a tailor in Bangkok towards the end of the prep trip, pick up on the second, more permanent trip out. That's probably enough to get started, very grateful for any advice or warnings.