assayer

After just a cursory glance at the calendars it is very obvious (at least to me) what the source of the calendars is.

11 hours ago, garyk said:

Thought this might be interesting to some here? Didn't have $hit to do today so here goes.. haha

 

China, UK, U.S., Japan, Germany, France, + rest of the world = about 435,669 expatriates in Thailand. Got this from Wiki (2010).

 

I divided that by 2 (just a guess on the number of retired expats in Thailand) 435,669 / 2 = 217,834.5 retired expats in Thailand.

 

Then I took that number and multiplied by 800K that needed to be seeded in a Thai bank.

217,834.5 x 800,000 baht = 174,267,600,000 baht / yr. into Thai banks. So about 174.268 billion baht / year.

 

I converted this into dollars so it would be easy for me to identify with.  174,267,600,000 / 32 = 5,445,862,500 U.S. dollars. So 5.445863 billion dollars / year.

 

Now I divided this by 4, because the 800K baht needs to be seeded in a Thai bank for 3 months. 5,445,862,500 / 4 = 1,361,465,625  U.S. dollars. So about 1.361466 billion U.S. dollars guaranteed in a Thai bank at all times throughout the year.

 

Now a investment of 5% / yr.  = 1,361,465,625 x .05 = 68,073,281.25 U.S. dollars / year. So the Thai banks would get a pay day of 68.073 million dollars / year profit.

 

So, if there is 217,834.5 thousand people on a retirement extension = 68,073,281.25 U.S. dollars / yr minimum. Or 68.073 million dollars profit.

 

Just say that was halved that again. 217.834.5K people x .5 = 108,917.25. So that would equal a yearly income to the Thai banks of 68,073,281.25 / 2 = 34,036,640.6 dollars / yr. Or 34.037 million dollars / yr.

 

If we halve it again 108,917.25 x .5 = 54,458.625 retirees. That would be about 17.018 million dollars / yr profit.

 

Of course this is just speculation on my part. I wish I knew the actual number of retired expats living here?

But, it shows there is a very good argument that these new rules will result in a very nice pay day for the banks.

 

Not to mention the 800K seed money will most likely stay in the banks and be drawn down during the year.

 

So, if there are 108.917 K expats in retirement here then the total(guesstimated) value to the banks would be. 1.089172499 billion baht / yr. pure profit guaranteed.

 

IMO what the government is doing is wanting a guaranteed monthly amount invested in a Thai bank, strictly to generate a guaranteed payday. 

 

Smart IMO, and nothing wrong with that if the numbers hold up.

Personally I don't think it has anything to do with the income letters, it is a scheme to generate cash flow. 

Nicely done too.

 

i thought of this earlier but did not post on it Garyk. But my thoughts were also on these lines.

Each of the foreign consulates charge about $50 US to notarize those forms but the banks are only getting 100 baht for doing there certifications.

Now if the consulate forms are not legal the only thing left is the bank certificates. If anyone has a monopoly on anything then they can set the price for that commodity at anything they want and it has to be paid to receive it. So why not increase your charge to say 1600 baht or even to 2000 baht "because we can", right?

So if we use your number of retirees in Thailand (217834.5) and multiply that by the 1600 current cost of documents we have an additional 348,535,200 baht in the Thai banks yearly. And that number added to your total would make the amount into Thai banks each and every year a total of now 1,437,707,499. Or if you use the 2000 baht charge it would be slightly over 1,5 billion per year.

On 11/2/2018 at 1:40 AM, JimmyJ said:

 

I wonder what part of the current situation was caused by continual posts like this appearing in Thaivisa Forums?

 

Perhaps a bigger cause than what you state was the issue?

 

 

Jimmyj what do you think these people were living on if they did noy have that income? I personally have more than that every month and still have to watch what I am doing or I get myself into a bind.

I just renewed my card a couple of months ago from visa to nonpaying, I have never had a work permit since I don;t work.

1 hour ago, HappyAndRich said:

Not heard anything about that. This is the info on Bangkok Bank website:

Apply now! Simply bring your Bangkok Bank passbook from a savings account, or cheque book, together with your Citizen ID card or passport (if you are an expatriate) to any Bangkok Bank branch. You will be issued with a Be1st Smart TPN UnionPay card instantly and asked to key in a 6-digit PIN of your choice.

 

ATT: Bangkok Bank has during the time you had you VISA debit card change from VISA to Union Pay, but it will surely work in ATMs.

You can also contact the Bangkok Bank Branches that is located in Tokyo or Osaka, that might be able to assist you without the need to travel.

Unionpay will only work in certain areas, namely asean/asian.

22 hours ago, marcusarelus said:

You wrote, "The next big drawback to this account is the length of time it takes to get it into effect, 2-3 months is what the branch manager told me today."

 

That's not correct it will open immediately. 

 

I see, and thanks for the explanation. Yes the account opened immediately, however the USA bureaucracy is such that the direct deposited checks will not arrive for 2-3 months; and so the account is of no avail for that period.

11 hours ago, marcusarelus said:

Call the main office and ask to speak with the person in charge of direct deposit accounts for Americans and she will fix it for you.  I had a problem and called her from the bank where I was opening the account and gave her my phone and she talked to the manager and solved the problem in 5 minutes.  I think Pib who posts here knows her name but I've forgotten it. 

I don't understand, from your comment, just what problem I need fixed. Unless it is going to the bank in person each time I need to withdraw from the direct deposit account. And I fully believe this manager told me the correct info. So would you explain youre comment, for my benefit, please?

If you doubt it anymore then follow the attached link:

https://th.usembassy.gov/u-s-mission-in-thailand-to-cease-providing-income-affidavit/

15 hours ago, wgdanson said:

As some people I know were doing exactly that with their UK bank 'income'. That is why the BE have said they cannot 'verify' the incomes, but the Thai IO want them to. 

If as Sirieou and you are saying, retirees are simply withdrawing and depositing the same 65,000 baht each month and therefore cheating on the income requirements could I ask what they are to use to buy their food, pay their rent, put fuel in their vehicles, etc, etc each and every month they live here?

My personal experience for the cost of living in Thailand is that I use nearly all of the 65,000 each month for these expenses, so I can not be doing what you say.

6 hours ago, SkyNets said:

So just get a print out from your Thai bank showing your pension payments. Whats the problem, unless you have been lying.....

Some of us don't have our money going to a Thai Bank, YET.

So where was the ACTION a couple of days ago when the visibility was at 1 kilometer in Doi Saket because of farmers already burning?

On 9/27/2018 at 8:51 PM, dallen52 said:

The extension of warranty is 7 years and 10 years respectively for 2011 to 2015 DCT vehicles. 

Check your VIN and it will indicate the outstanding action required. 

Mine does.

Plus there is a Ford Thailand recall site.

https://www.ford.co.th/en/owner/recalls/

 

Much information out there.

Sadly you have to dig for it.

Plus a couple of tech fixes you can try.

I was amazed that the service garage didn't know this...

 

I just tried the recall site twice and it indicates my VIN was not found. Not sure if that means there are no recalls on mine or if it means my car doesn't exist.

3 hours ago, rayinkrabi said:

I'm sure the warranty sates '3 yrs/100,000 Km, whichever comes first' so I guess most of us are well beyond that time period. 

 

Obviously ford have extended this for their clutch problem, which is simply not good enough imo.  They have also clearly shown their complete disregard (worldwide) for us Customers.

 

 

The drivetrain warranty is for 5 years, and the transmission is a vital part of the drivetrain.

6 minutes ago, alfieconn said:

All Ford Franchises know that there is a problem with the Powershift, tell them to speak to Head Office in Bangrak, Bangkok 02686 4145.

Been there done that, They say to take it back to local distributor. But thanks anyway.

3 hours ago, 4MyEgo said:

I take it the 100,000km warranty is now lapsed, if not, I would be going straight back to Ford and telling them to replace the gearbox before it blows up, if they say no, then in about a weeks time, do what you gotta do and then they cannot say you didn't warn them.

No the 100,000 warranty is not expired yet, and yes I did tell them to change the gearbox. The service manager veery happily told us he had never put in a work order to change a gear box on any vehicle and was not going to on ours as well.

29 minutes ago, dadey said:

I too have had major issues with my 2013 Fiesta 1.5 Sport clutch and gearbox. I have made 3 or 4 visits to 're-program' and ultimately replace the clutch and gearbox.

 

Does anyone have the contact details for the law firm involved with the class action claim?

 

Surely, if Ford have accepted responsibility for the faulty product, then anyone who has had suffered the problem, including high depreciation, will be 'eligible' for compensation.

 

Please pm me

4 hours ago, connda said:

Somebody smells money!  <sharks circling>

I don't know who you are, AND you don't know me. I suspect that if you were involved in this in anyway you would also be looking for some satisfaction from a car manufacturer that won't stand behind their warranty issues. We have had the car into the shop many times for transmission work, three sets of clutches, and they continue to tell us there is nothing wrong with the car. I am not looking for money, I only want the car to be as expected.

Again, we don't know each other, so why think of me as a shark, JERK?

I am a Ford Ecosport owner who should have been included into the class action suit against Ford last year. But, it was kept as quiet as possible and neither my Thai wife or me knew about the suit. Had we know in time we would have gladly joined the group and added to their stories with our own about the autos.

If there is anyone who knows of anything related to this suit that we can do too or the way to contact other owners who are also experiencing problems with their Fords would you please advise me.

We have had the clutches in our auto changed three time and it only has 46000 kilometers on it. We were driving down a major highway when the transmission shifted into neutral by itself. I shudder to think of what could have happened had it shifted into reverse or park.

If there are others, and I know there are, out there experiencing similar issues with the transmissions or with the engines in their Fords please contact me. As can be seen from the suit which was ruled on in favor of the consumers, Thailand is now trying to help some people with the fights against some of the GIANT companies.

Again, please contact me if you can be of help in any way.

1 hour ago, hotchilli said:

Whilst it does appear the teacher has made an error in their marking and has come in for some criticism I do have an issue with this....

It only states one side of the story, if the mother wanted to know why the teacher marked the homework like this why didn't she ask the teacher to explain themselves instead of going on social media ?

Journalism is supposed to be fair and balanced, this story is one sided with no defense from the teacher.

If asked by the mother they might well have said OMG yes I was having a bad day and made a mistake.. sorry for that I'll correct it straight away... instead we get trial by social media once again !!!

 

Lets face it we've all made mistakes haven't we????

555555555

How many times have you had any Thai admit to being incorrect about anything??

On 9/13/2018 at 8:29 AM, Orton Rd said:

My friends and family do not include a troublesome migrant group belonging to a religion that does not integrate resulting in conflicts with the host population, so it does not apply. when even passive Buddhist cannot live with Muslims I know where the blame lies.

Are these the very same "passive Buddhists" who dug the mass graves on the Thai/Malaysian border and then proceeded to fill them with the bodies of the "troublesome migrant group"?