We retiring in Thailand next year, what should we do?

[James2020]

There is another way to do this - keep it simple - you have to decide what works for you.

• My Thai wife (US and Thai citizen) and I moved to Thailand for retirement, after 12 years and a large house in the US, with two suitcases apiece - my computer stuff and clothes.  No need to jump through the hoops to have it sent here.  Very liberating. 
• I had a non- immigrant O visa, now with extension based on retirement.
• I have 3 US based credit cards with Chase, that work in the US or Thailand.  They all accept our Thailand address.  They are paid automatically from my US based bank account, which also accepts our Thailand address.  I have no bank account in Thailand.  My wife has two accounts with SCB, and  I wire money to live on once a year to her account from my account in the US.   All of my assets are with Vanguard, which also accepts our Thailand address.  I decline two factor authorization.  I never mail or deposit checks - it's all handled electronically through my US bank account.
• We have no address, phone number, or driver's licenses in the US.  If you aren't opening bank accounts or applying for credit cards, you won't need them.  I can rent a car in the US with my Thai DL.   We go back to the US every year.  My Social Security checks are deposited electronically into my US bank account.  
• I call the US regularly with my Skype account.  It costs $30 a year for unlimited calls to any mobile or land based phone in the US.
• We have BCBS health insurance through a family business that covers us for routine care in the US or Thailand.
• Not for everyone, but it works for us and keeps it simple.  Some caveats:  Opening a Social Security account  requires a US mailing address, even if you live abroad, and we use my son's address.  Maybe if you already have an account, you can change the address - I don't know.  Some US vendors won't accept a US based credit card with a foreign address, and we just don't do business with them.

[lopburi3]

Teakwood - would highly advise selling - you should be able to get a good price.  They would be a large shipping expense and really not of much use here except for show - not really that comfortable to use (have myself and nobody uses).  Dinning is normally informal here so that will likely not be used much.  Coffee table and kitchen tables often used even if a dining table available for show.  BBQ can be useful but check on supply of spare burners as they tend to burn out in the moisture here..

[ubonjoe]

I think it is time to get back on topic. About 7 pages discussing things the OP did not mention in his post. Also bickering between a few members over irrelevant matters.

Edit: Two new off topic posts have been removed.

Edited July 15, 2018 by ubonjoe

[TallGuyJohninBKK]

4 hours ago, JLCrab said:

Why would anyone suspect that you have that kind of cash on you? But it was more a note of levity. Relax.

 

Is that bulge in your pocket $20K in U.S. currency, or, are you just happy to see me? 

[TallGuyJohninBKK]

4 hours ago, James2020 said:

I have 3 US based credit cards with Chase, that work in the US or Thailand.  They all accept our Thailand address.  They are paid automatically from my US based bank account, which also accepts our Thailand address.

 

Are you paying Chase's 3% foreign currency conversion fee every time you use those cards in Thailand?

 

4 hours ago, James2020 said:

We have BCBS health insurance through a family business that covers us for routine care in the US or Thailand.

 

All. of the Blue Cross/Blue Shield health insurance plans I've been familiar with over the years only cover a person in foreign countries for limited periods of travel abroad, not for continuous, extended foreign residency???

 

Also, I'd point out, I suspect most people who retire to Thailand aren't normally in a position where they're going to wire a full year of living expenses once a year. They have savings, but they're living month to month off Social Security, pension payments, investment earnings, etc etc.  Not to mention, that would seem to create a considerable loss of earnings potential to have all that extra money sloshing around in Thai accounts all year instead of earning much better returns back in the U.S.

 

Edited July 15, 2018 by TallGuyJohninBKK

[lopburi3]

1 minute ago, TallGuyJohninBKK said:

 

Are you paying Chase's 3% foreign currency conversion fee every time you use those cards in Thailand?

 

 

All. of the Blue Cross/Blue Shield health insurance plans I've been familiar with over the years only cover a person in foreign countries for limited periods of travel abroad, not for continuous, extended foreign residency???

Expect he may use to pay US Dollar expenses/fund Paypal as I do - no extra charge when paid monthly from US bank account.

 

BCBS has a plan called Global that others have reported using and I use FEP/Blue Cross (selected group) and it is full international coverage.

[TallGuyJohninBKK]

9 minutes ago, lopburi3 said:

 

BCBS has a plan called Global that others have reported using and I use FEP/Blue Cross (selected group) and it is full international coverage.

 

Lopburi, are either of those open to the general public? 

 

By FEP, do you mean their Federal Employees Program? I had state government BCBS, and it was limited travel only coverage.

 

 

Edited July 15, 2018 by TallGuyJohninBKK

[lopburi3]

Only have knowledge of FEP (Federal Employee Program) and that is a closed system (and not cheap).

 

Note on Global web below notice so appears any BCBS member can change to Global coverage.

• Quote

  Existing Blue Cross Blue Shield (BCBS) members may have international coverage under their plan benefits through the current BlueCard Worldwide® program. This program will be rebranded as Blue Cross Blue Shield Global Core beginning January 1, 2017, but this change does not impact existing coverage.

  http://www.bcbsglobal.com/frequently-asked-questions

[TallGuyJohninBKK]

10 minutes ago, lopburi3 said:

Only have knowledge of FEP (Federal Employee Program) and that is a closed system (and not cheap).

 

Note on Global web below notice so appears any BCBS member can change to Global coverage.

• http://www.bcbsglobal.com/frequently-asked-questions

 

Thanks....

 

It looks like BCBS's global health insurance is actually handled by BUPA, which also writes policies directly in Thailand. But it would be interesting to do a price and coverage comparison between the two. I'd imagine the international BUPA Global would be broader than BUPA Thailand, and correspondingly more expensive.

 

When I try to get a quote from the BUPA Global website, it asks what country I'd be spending the most time in, I answer Thailand, and I get the following message and no quote:

 

 

Edited July 15, 2018 by TallGuyJohninBKK

[James2020]

2 minutes ago, TallGuyJohninBKK said:

 

Are you paying Chase's 3% foreign currency conversion fee every time you use those cards in Thailand?

 

 

All. of the Blue Cross/Blue Shield health insurance plans I've been familiar with over the years only cover a person in foreign countries for limited periods of travel abroad, not for continuous, extended foreign residency???

No, we're not paying the 3% foreign transaction fee.  We canceled the credit card that had that fee.  Many credit cards today don't have a foreign transaction fee.

 

Our BCBS policy, purchased in the US before we moved to Thailand, covers us for routine care in the US, as well as in foreign countries, as long as we use the foreign providers on their list, which includes Bumrungrad and Samitivej Hospitals.  BCBS has our Thailand address.  We've used Bumrungrad about a dozen times in the past year for outpatient treatment.  I submit the claim online, and I'm reimbursed in about 3 weeks by direct electronic deposit into my US bank account, minus copays and deductibles.  I checked, and in 2018 we were charged $4784 by the providers in Thailand, BCBS allowed $4784, and they reimbursed us $3262.  In 2018 we are paying an annual fee of $4159 each for the policy, which does not go up with our age, but has been increasing with medical inflation.  Our policy covers inpatient treatment as well, and the hospital can bill BCBS directly for that, but it's usually easier to just pay the bill and be reimbursed, if it's not too large.

[TallGuyJohninBKK]

5 minutes ago, James2020 said:

Our BCBS policy, purchased in the US before we moved to Thailand, covers us for routine care in the US, as well as in foreign countries

 

James, thanks very much for the very clear and detailed answer above. If you don't mind me asking:

1. Is the policy you have generally available to the public, and

2. if so, what's the actual name of that particular coverage?

 

Edited July 15, 2018 by TallGuyJohninBKK

[ubonjoe]

3 hours ago, ubonjoe said:

I think it is time to get back on topic. About 7 pages discussing things the OP did not mention in his post. Also bickering between a few members over irrelevant matters.

Edit: Two new off topic posts have been removed.

A reminder and a notice that a off topic nonsensical post has been removed.

[James2020]

It's a group policy, so probably not available to the general public.  My card says "Healthy New York EPO".  The number n the back is 1-800-499-1275.

[JLCrab]

American Express does have a Foreign Transaction fee unless you have one of those $400 per year cards but there is no foreign transaction fee for non-US purchases priced in USD i.e. non-US airline tickets and non-US based health insurance.

Edited July 15, 2018 by JLCrab

[TallGuyJohninBKK]

On 7/13/2018 at 10:38 PM, yankyoakum said:

Is there a link on things we need to consider, do's and don'ts. Advice? Check lists?

 

I think the OP in his original post asked for pretty broad ranging advice on issues that someone planning to relocate from the U.S. to Thailand ought to be aware of and consider, including personal finance, visas-extensions, moving belongings, etc.

 

And, based on the OP's' comments thus far in the thread and the number of posts for which he's clicked a "Thanks" tag, he's found the wide ranging discussion of different relocation-related topics both informative and useful.  I know I certainly have.

 

[JLCrab]

6 hours ago, James2020 said:

<snip>Some caveats:  Opening a Social Security account  requires a US mailing address, even if you live abroad, and we use my son's address.  Maybe if you already have an account, you can change the address - I don't know. <snip2>

When I applied for SocSec a few years ago while living in Thailand, they asked for a US Address. OK. The next question was: Do you live at this address?

 

I said NO and gave them my PO Box in Thailand and they had no problem with that then or since and all my SocSec mail including the annual proof-of-existence letter is mailed to that address here in LOS.

[TallGuyJohninBKK]

39 minutes ago, JLCrab said:

When I applied for SocSec a few years ago while living in Thailand, they asked for a US Address. OK. The next question was: Do you live at this address?

 

I said NO and gave them my PO Box in Thailand and they had no problem with that then or since and all my SocSec mail including the annual proof-of-existence letter is mailed to that address here in LOS.

 

So what happens with SS if someone doesn't have a valid U.S. address to give them?  What if anything are they using that U.S. address for, if one is also telling them they're living in Thailand?

 

[joealx]

19 hours ago, TallGuyJohninBKK said:

 

It does actually, though in a misleading, unclear kind of way.

 

Under the NY Branch ACH section, it currently has the following language:

 

 

When they say "funds transfer services will be available soon," obviously, that suggests they're not available now. Which is wrong, as I've repeated numerous times here now.

 

--What's not available now are NEW ACH links thru the NY branch.

 

--What is available now are regular ACH transfers for those who have existing ACH links.

 

--But, even those are probably going to cease working in the coming months. And BKK Bank will either come up with some alternative approach or give up and do nothing.

 

If you're waiting for BKK Bank Thailand to personally notify you of changes to their NY branch ACH transfer process, good luck in waiting for that.

 

For more details on the status and changes to the NY Branch ACH process, see here:

 

https://www.thaivisa.com/forum/topic/1047921-opened-bangkok-bank-account-tried-to-x-fer-from-us-trial-ach-deposits-failed/?do=findComment&amp;comment=13170470

 

The NY link, that I found, only shows the address.

 

 

New York Branch
	Mr. Thitipong Prasertsilp, VP & Branch Manager 29 Broadway, 19th Floor New York NY 10006 Business Hours: Mon-Fri (9:00 am to 5:00 pm) Tel: (1-212) 422-8200 Fax: (1-212) 422-0728 SWIFT: BKKB US 33 FED Routing No: 026008691 CHIPS ABA: 0869 E-mail: [email protected]

Edited July 15, 2018 by joealx

[JLCrab]

25 minutes ago, TallGuyJohninBKK said:

 

So what happens with SS if someone doesn't have a valid U.S. address to give them?  What if anything are they using that U.S. address for, if one is also telling them they're living in Thailand?

 

Beats me ... they asked where I lived. I told them where I live.

[ubonjoe]

22 minutes ago, TallGuyJohninBKK said:

So what happens with SS if someone doesn't have a valid U.S. address to give them?  What if anything are they using that U.S. address for, if one is also telling them they're living in Thailand?

I did not need a US address when I applied for SS here a few years ago. I think it is the same.

As far as I know a US address is only need to register for the SSA online site and the poster wrote this "Opening a Social Security account".

[Elkski]

23 hours ago, Boon Mee said:

 

  Getting this stupid stuck qoute thing again?? 

You may want to sell the heavy fragile green egg smoker and buy a Weber smokey Mountain when you arrive.   I understand there is a Weber dealer in Chiang Mai. 

[fvw53]

On 7/14/2018 at 7:50 AM, ubonjoe said:

Your wife can ship your household goods and import them duty free. See: http://en.customs.go.th/content.php?ini_content=individuals_151007_02&amp;lang=en&amp;left_menu=menu_individuals_151007_02

She can enter Thailand on her Thai passport. She will show both passport to the airline when departing the US to prove she does not need a visa. Be prepared to show your marriage certificate if they question the different names on the passports.

If you have time it would be a good idea to have your marriage certificate legalized before departing the states. See: http://thaiembdc.org/consular-services/legalization/ If not done you could do a self certification at the US emassy in Bangkok or the consulate in Chiang Mai. The legalization will be needed to register your foreign marriage at a Amphoe and do a name change to your family name. 

It is not mandatory for you to have your social security payments direct deposited to a Thai bank. Bangkok Bank is the only bank where you can have them direct deposited to your account via their Branch in New York. Even if you do not have them direct deposited having a Bangkok Bank would be best since your can do a ACH transfer directly to your account which saves a lot on fees compared to doing them by SWIFT.  Info is here on their website.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

Your your visa you have more than one choice. You could apply for a OA long stay visa at Thai embassy that would allow unlimited 1 year entries for a year from the date of issue. By getting a new one year entry you can get a total of almost 2 years of total stay from it. Info here: http://thaiembdc.org/consular-services/non-immigrant-visas/non-immigrant-category-oa/

You could also get a single entry non-o visa based upon marriage to a Thai by mail to the embassy or in person at the honorary consulate in Dallas or Houston. 

Contact info is here for the consulates. http://thaiembdc.org/royal-thai-honorary-consulates-general-in-the-u-s/

With the single entry non-o visa you could apply for a one year extension of stay at immigration based upon marriage to a Thai or retirement. For one based upon marriage you will need 400k baht in a Thai bank in your name only for 2 months or proof of 40k baht income proven by a income affidavit done at the US embassy or consulate. For retirement you would need 800k baht in a Thai bank for 60 days for the first extension and 3 months after that or proof of 65k baht income proven by a income affidavit.

 

Ubonjoe : you are one of the great volunteers and also expert on this Forum

[James2020]

1 hour ago, ubonjoe said:

I did not need a US address when I applied for SS here a few years ago. I think it is the same.

As far as I know a US address is only need to register for the SSA online site and the poster wrote this "Opening a Social Security account".

Right (as usual), Joe.  It was an online registration.  I haven't tried to change it yet.  No online access now.

[Pib]

2 hours ago, TallGuyJohninBKK said:

 

So what happens with SS if someone doesn't have a valid U.S. address to give them?  What if anything are they using that U.S. address for, if one is also telling them they're living in Thailand?

 

There are social security restrictions/policy variations for some countries.  For example, benefit payments can not be sent to a limited number of countries.....depending on the foreign country you live in the "Alive or Dead Letter" will  be sent either once a year or every two years, etc.

 

You can apply for social security benefits with only a foreign address....you do not need a U.S. address.

 

Now signing up for an online account requires a U.S. address (APO address OK) because during that signup process the address you enter is bucked against a credit bureau and IRS records to help confirm who you say you are.

 

[The manic]

On 7/14/2018 at 7:50 AM, ubonjoe said:

Your wife can ship your household goods and import them duty free. See: http://en.customs.go.th/content.php?ini_content=individuals_151007_02&amp;lang=en&amp;left_menu=menu_individuals_151007_02

She can enter Thailand on her Thai passport. She will show both passport to the airline when departing the US to prove she does not need a visa. Be prepared to show your marriage certificate if they question the different names on the passports.

If you have time it would be a good idea to have your marriage certificate legalized before departing the states. See: http://thaiembdc.org/consular-services/legalization/ If not done you could do a self certification at the US emassy in Bangkok or the consulate in Chiang Mai. The legalization will be needed to register your foreign marriage at a Amphoe and do a name change to your family name. 

It is not mandatory for you to have your social security payments direct deposited to a Thai bank. Bangkok Bank is the only bank where you can have them direct deposited to your account via their Branch in New York. Even if you do not have them direct deposited having a Bangkok Bank would be best since your can do a ACH transfer directly to your account which saves a lot on fees compared to doing them by SWIFT.  Info is here on their website.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

Your your visa you have more than one choice. You could apply for a OA long stay visa at Thai embassy that would allow unlimited 1 year entries for a year from the date of issue. By getting a new one year entry you can get a total of almost 2 years of total stay from it. Info here: http://thaiembdc.org/consular-services/non-immigrant-visas/non-immigrant-category-oa/

You could also get a single entry non-o visa based upon marriage to a Thai by mail to the embassy or in person at the honorary consulate in Dallas or Houston. 

Contact info is here for the consulates. http://thaiembdc.org/royal-thai-honorary-consulates-general-in-the-u-s/

With the single entry non-o visa you could apply for a one year extension of stay at immigration based upon marriage to a Thai or retirement. For one based upon marriage you will need 400k baht in a Thai bank in your name only for 2 months or proof of 40k baht income proven by a income affidavit done at the US embassy or consulate. For retirement you would need 800k baht in a Thai bank for 60 days for the first extension and 3 months after that or proof of 65k baht income proven by a income affidavit.

 

As ever the advice from UB is super.  It is gold dust. Diamond. I suggest you print out the page and highlight and underline that which you do and don't understand.  My only thought is to keep most of your capital in the West and bare in mind all things can be sorted out here eventually. Its a bit of a beaurcratic  roller coaster ride so do things in small steps.  Medical insurance is a consideration.  I have no advice except to ignore the naysayers who infest this site.  Enjoy your future adventure.

[TallGuyJohninBKK]

2 hours ago, joealx said:

The NY link, that I found, only shows the address.

 

 

New York Branch
	Mr. Thitipong Prasertsilp, VP & Branch Manager 29 Broadway, 19th Floor New York NY 10006 Business Hours: Mon-Fri (9:00 am to 5:00 pm) Tel: (1-212) 422-8200 Fax: (1-212) 422-0728 SWIFT: BKKB US 33 FED Routing No: 026008691 CHIPS ABA: 0869 E-mail: [email protected]

 

Yes, anyone with questions or concerns about what's happening with BKKB's NY ACH system should definitely call them and inquire. But you'd better be prepared to asked specific, pointed questions in order to get any meaningful answers.

 

Such as:

--Why are American customers trying to create new domestic ACH links thru the NY branch lately having those denied?

--Is is true that BKKB NY will not be able to continue its current domestic ACH system because of changes in federal banking regulations?

--How much longer do you expect we'll be able to continue using the current domestic ACH system before it's closed?

--Can you tell me now what kind of future system is going to replace the current domestic ACH system and when will that change occur?

 

It's good for those interested in the issue to remind them that they have an audience of interested/involved customers.

 

However, speaking from personal experience, be prepared to expend some considerable effort to get anyone there to actually answer the phone and/or your questions.

 

Edited July 15, 2018 by TallGuyJohninBKK

[TallGuyJohninBKK]

1 hour ago, Pib said:

You can apply for social security benefits with only a foreign address....you do not need a U.S. address.

 

Now signing up for an online account requires a U.S. address (APO address OK) because during that signup process the address you enter is bucked against a credit bureau and IRS records to help confirm who you say you are. 

 

That's probably the distinction the prior poster was glossing over -- the different between actually applying for SS benefits vs. applying for a SS online access account, which is unrelated to whether you receive SS benefits or not.

 

[JLCrab]

Per my experience, I was not applying for nor do I yet have an online MySSA account. I was just applying for benefits

 

I only posted this info to caution against giving the address of a relative or friend and then answering YES if they should ask Do you live at this address when you actually live in Thailand.

Edited July 15, 2018 by JLCrab

[lopburi3]

Unless things have changed you are supposed to apply through the Manila office for SS payments if in Thailand from my understanding - there is a dedicated unit there to take care of region.  

[JLCrab]

I applied through Baltimore.