JimGant

If you sent baht (i.e., did the currency conversion Stateside) and not dollars, this could account for most of the discrepancy. Most wire forms have a block you check to indicate foreign or local currency.

i have used my Uk issued credit card in Thailand and upon checking the statement i was given slightly better than the thai ( onshore ) published TT rate of the day.

This usually is the case, at least with Visa and/or the Plus network, as they give the onshore Interbank Exchange Rate, which is several satang better than the T/T rate. Click this link for the Visa exchange rate of the day.

However, most credit card issuers pass on the 1% foreign transaction fee charged by the Plus and Cirrus networks -- and many others add an additional 2-3% to that. Thus, only with a few banks, like Capital One and Nationwide, will you escape fees and realize the Interbank Exchange Rate. (highchol, you must have one of these........?)

The above used to apply to MasterCard/Cirrus. But of late, with the onshore/offshore spread, they've apparently been using the odious offshore rates, although some have reported they've now come "onshore.' (And issuing banks have exchange rate latitude, so crummy exchange rates may lie with your bank).

When I asked the issuing bank of my MasterCard what the Cirrus exchange rate for a particular day was, their reply showed it being in the offshore category. But when I actually saw my statement, the exchange rate used for that day was just 1.5% less than the onshore Interbank Exchange Rate -- and 1% of that was my bank passing on the foreign exchange fee.

Go figure.

The two managers that I had to call over to "educate" the cashiers sure knew what was going on. This was in Home Pro and the Rimping on the middle ring road in Chiang Mai. Since then, the cashiers have known exactly what I wanted when I insisted "Thai baht only."

For the unaware, this scam will continue to ensnare. Pointing out on this forum who the scammers are might save some readers a few baht if buying potato chips -- or a bundle, should they be buying a kitchen ensemble.

their rate today for $1 is 32.64 (which is clearly the OFFSHORE rate).

Very interesting. I just called my bank (USAA Federal Savings) and asked for today's exchange rate: 32.8 for $1!! So, yes, Mastercard is back to where they were a couple months ago, i.e., gouging us with the offshore rate. (I noticed my last few charges, the last being 4/19, were about 20 satang short of the onshore Interbank Exchange Rate, even after figuring in the 1% foreign transaction fee. Close enough, I figured, but maybe this was the beginning of the backsliding.)

As my only Visa Credit card is Bank of America, and they charge another 2% on top of the 1% Visa foreign transaction fee, I guess it's back to using my Bangkok Bank Debit card, wiring enough money to amortize the fees to a satisfactory exchange rate, then monitoring the account on the Internet to insure some fraudster hasn't cleaned it out.

Oh, I asked the nice lady at USAA whether or not the exchange rate was the one received from Mastercard, or one rewickered by USAA. She assured me it was Mastercard's rate. This question was prompted by the following:

And, although Visa and Mastercard notify the card-issuing bank of the exchange rate to be applied, the bank is not obliged to adhere to it, and may use a more advantageous rate if it feels like doing so.

So, if anyone reading this is still getting onshore rates with Mastercard/Cirrus, please stand up. The nice lady at USAA will then get another phone call..........

A few months ago, Mastercard/Cirrus was using the less favorable 'offshore' rates. Now -- at least with my experience -- they're using the 'onshore' rates, as Visa/Plus has been doing all along.

if I state in THB, and they confirm "yes", it will be done at the exchange rate that has been fixed by the local bank through whom the merchant clears.

Actually, you've got this reversed. If the transaction is in Thai baht (and the absence of any home currency numbers on your slip verifies this), you'll get the exchange rate available to your credit card sponsor and its related network (Visa/Plus and Mastercard/Cirrus being the two largest). Usually, this exchange rate is favorable, being a few satang better than the telex rate (before fees).

If your credit slip has any mention of your home currency, you're a victim of Dynamic Currency Conversion, and you'll pay through the nose for this "convenience" of instant exchange rate, which is established by the merchant's servicing bank, and is often several baht less than you'd get with the credit card networks. Plus, you'll still pay (with few exceptions) the 1% foreign transaction fee charged by the credit card networks, even tho' they're not doing the conversion (this fee was once called the foreign conversion fee, but was re-titled when Dynamic Currency Conversion arrived). And if your issuing bank tacks on 1-3%, as many do, you'll, of course, still pay this.

Several threads on this are here on TV. Bottom line: Say "Thai baht only" when you hand your card to the merchant/clerk. If they don't understand, or the subsequent slip shows your home currency, call the manager. There's a button on the POS machine they can push to override the Dynamic Currency Conversion position, which more and more seems to be the default position.

I now see "oral condoms" added to the

list. Anybody any idea what these are. My interest is , of course , strictly prurient.

It's like a shower cap that you pull down and hook under your chin.

Any comments on the ethics/risks of making this claim to the embassy (claiming the entire gross amount of stock sales as INCOME)? Is there something about the wording of the embassy document that would make this a lie?

Look at what the US Embassy/Consulate is asking you:

"He/She also affirms that he/she receives an amount of US$ ______every month from the United States Govt. and/or other sources.....

Nothing about income, just cash flow. And I'm sure your heart would be found pure if your stock sales were only annually, and then pro-rated to cover the "every month" proviso.

Your covered.

Would STOCK SALES work as well?

Sure. But if documentation is asked for, show the 1099-B, not the Schedule D. This would be kosher, since Immigration is really looking for your positive cash flow*, which is reflected in the 1099. A Schedule D, with "net income" shown, would not help your case -- and I'm sure the Immigration officer would not be interested in your concepts of 'cash flow,' 'basis' and 'accounting entities.'

* I say 'positive cash flow' vice 'income' because Immigration is only interested that you can support yourself while in Thailand. Thus, either showing 800k in the bank or 65k/mo "income." But do they really mean "income" strictly speaking? I don't think so, since drawing down an investment or estate, which isn't necessarily 'income,' seems akin to drawing down an 800k Thai bank account.

But, I wouldn't want to have this discussion with Immigration. So, I hope they don't become too 'support documentation' oriented.

my problem is that I cannot guarantee being in LoS during the renewal period each year,

Possibly, at least with a plane ticket showing cause, the 30-days-prior-window for renewal could be stretched another month earlier, with fingers crossed. But, worst case, if you're out of the country at renewal time, you re-enter on a 30-day stamp, which you then pay 2000 baht to convert to a Non Imm O, then onto the retirement extension. Most examples of this I've seen here have all been same-day jobs, although in CM one chap was told, after getting his Non Imm O conversion, to come back in 60 days to apply for his extension. But, this certainly seems to have been an aberration. And except for an extra trip, no real harm done.

So, sounds like the "pension" question is a non issue. And, with all your retirement credentials in order, getting a Non Imm O in-country -- if necessary because of having to re-enter on a 30-day stamp -- should also be a non issue. The only issue I see is: welcome to arthritis ville.

Under the terms of the bill, sales of alcoholic beverages to persons aged under 20 are prohibited at all times and places,

That's fine and dandy. Now, why not allow sales between 2 and 5 PM, when most of us geezers like to shop?

I got my Commanding Officer to certify my gross retirement income before I retired from the Navy last month on official letterhead stationary ... that should be good enough for the US Embassy to certify my pension meets the minimum required amount ... shouldn't it ?

As others said, you don't need proof at the Embassy or Consulate, but *may* at Thai Immigration.

And while your CO's letter may work initially, a few years down the road it may be considered dated, plus it would not reflect your inflation-adjusted increase in retirement pay (possibly necessary, when the dollar further erodes, to translate into a required monthly baht income stream.)

Anyway, by signing up with Defense Finance and Accounting Service (DFAS), you can print out your latest 'Retiree Account Statement' on-line. This, I would think, would be fully acceptable by Immigration. Click on the below link if you're unfamiliar with this service. Login ID is your SS number.

DFAS

Thanks, PTE. Did they need a certification letter from the bank?

I've seen on this forum that, even with sufficient monthly income (i.e., 65k baht/mo), Immigration likes to see a bankbook with evidence of a balance. I believe in CM they'd like to see around 200k, according to one report.

Question: Does this resonate with anyone lately in CM? And, if so, do they also want to see a letter from the bank validating the bankbook amount?

Thanks.

Thanks. I wonder how many folks are now having to show a bank account to compensate for a dollar income that has sunk below 65,000 baht/month? (And does Immigration use the "offshore" or "onshore" exchange rate?)

Why not get a Bank of America credit card? They have a feature, inherited from MBNA, called "Shopsafe," whereby you generate a temporary, disposable credit card number, complete with CVV 3-digit security number. You designate expiration date and credit limit. It only takes seconds to generate on your computer. No cost involved, and obviously adds near-ironclad security to on-line shopping, as only one merchant can use that particular number.

If credit's not a problem -- and you pay off your monthly bill -- I'd sure consider reserving your check card for ATM use only. Yeah, they promise to refill your bank account the next day after reported fraud, but I sleep better knowing a fraudster will never have access to my bank account. (And particularly Thai bank-issued debit cards, as this forum has some horror stories about banks NOT refilling your account after fraud.)

And using a debit card number on-line..... Scary stuff.

No need to cancel the card, just dispute the charges with the card company. That'll hurt them most.

I believe once you report fraudulent use of your card, the card will automatically be canceled.

Is this a 'fill in the blanks' form provided by the Consulate? And do you actually state a monthly income figure? (equal to or greater than 65k baht, obviously)

a lease is an agreement between two contracting parties and once a new contracting party is introduced into the equation, either a new lessor, lessee or a sub-lessee the agreement is no longer necessarily valid.

Maybe so, as I've not seen any court cases addressing any of these.

But what has seemed fairly solid, on this forum and elsewhere regarding Thai law, is that the lessee is guaranteed his 30 year lease. Period. New owners may come and go -- and thus be dutifully annotated on the chanote. But foremost on that chanote is your farang name and signature attesting to your 30 year right of leasehold.

Now, what else the Land Office can annotate on the chanote, I don't know. They certainly wouldn't add any second 30-year proviso to my chanote. And liens based on mortgage? Dunno. We didn't go that route (nor could we, being married, thus requiring attestation that the land was bought entirely with her money -- making a mockery of any mortgage lien).

Private contracts between two parties stipulating 30-year renewal clauses and sublease rights may or may not be worth the effort. Again, nothing like this has come before the courts. But from my experience, the Land Office will not annotate such private contractual agreements on your chanote. And without the blessing of a government stamp, just how valid is your private contract.....

But, then, my Land Office isn't necessarily your Land Office.

Sunbelt?

If you are legally married, your wife can buy the land and even if it's on HER NAME, you own HALF of the land because it's under common property.

In a pig's eye........ or in California.

My opinion is that you should follow the law, get a 30 year lease on the land, and consider anything you build on it to be a disposable item that's good till the end of the lease. If you can work out a deal at the end of it then consider yourself lucky. You can still sell the building and the remaining term of the lease should you decide to leave before the 30 year term expires.

I thought subleasing (i.e., 'selling the remaining term of the lease') could only be done with the permission of the lessor (landowner). If such were an irate, former Thai wife, this could prove tricky. Hence, the usufruct option, which does allow for subleasing. (But the discussions over 'lease' vs. 'usufruct' on this forum have been less than conclusive, IMO, particularly regarding the '30-year' or 'lifetime' longevity.)

Sunbelt wrote:

You can do a thirty year lease. If the owner dies or sells the land, however the contract is no longer binding.

I was under the impression that the lessee on a 30-year lease, registered with the Land Office, is guaranteed (as much as anything is 'guaranteed' in Thailand) for 30 years, regardless if ownership changes for any reason. This seems to square with a later quotation in the same posting:

The only thing you can be sure with a 30 year lease is you will get 30 years. Anything more is a bonus.

Comment?

sorry if my history isn't that good but what line of duty has Thailand lost its airmen heros? ... when was the last time the RTAF was used?

A couple in Laos. Thai pilots were part of the Raven operation, to mention one. They were fully integrated, having round eyed ground crews, which respected them highly. All that survived have now retired from the RTAF, having reached age 60, and many achieved flag rank. Also, many received advanced fighter training in Arizona and Texas -- with NO language barrier problems.

In 1974 a Laotian puddle jumper strayed across the border. Thai air defense alert birds (yeah, ok, T-28s) intercepted -- and straddled -- him. He banked sharply away from the one he saw, and pranged into number two. But, heck, a Kill's a Kill. Number two recovered ok.

RTAF was the only Thai military to participate in WWI. They flew with the French (whether the Krauts turned them down first, I don't know. Sure don't know why they picked the French).

RTAF folks are top knotch. But many of the finest, particularly among the F-16 crowd, are today opting to fly straight and level with Thai Airways. Considerably more money to haul trash and the unwashed. A real shame. I hope this can be fixed.

However, a number of retailers seem to prefer the latter and wouldn't "understand" your insistance on the former.

Several threads on this subject (Dynamic Currency Conversion, or DCC). My experience required that I talk to a manager, as the checkout girls (Rimping Supermarket and Home Pro in Chiang Mai) either didn't understand me, or weren't versed in how to use the DCC override button. I've had no further problems at these places when I mention 'I want Thai Baht, understand?' when I hand them my plastic.

Huge ripoff, but very lucrative for the merchant and servicing bank. I have yet to hear about any customer that's come out ahead with DCC, even long before the current onshore/offshore divide.

Would you know if Kasikorn ATMs are one of the banks which provides the onshore rate when withdrawing funds from a foreign bank account?

If they post the Cirrus and/or Plus symbol-- and that's what your card has on it too -- you then should get the onshore rate, as it's the network, not the ATM owner, that dictates the exchange rate.

which is why they want to see bank transfers.

Chokchai, you've got a tough parole officer. Which Immigration Office do you use? (Are you "grooming challenged" by any chance?)