Just Received Some Bad News For US Citizens. No More Income Affidavits.

[marcusarelus]

28 minutes ago, assayer said:

After all the issues we have came up with regarding this I decided to go with the direct deposit at Bangkok Bank today. This is what I was told had to happen:

My experience with Bangkok Bank.docx

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. 

Edited October 29, 2018 by marcusarelus

[Thaidream]

14 minutes ago, JimGant said:

 

Interesting, but I don't think I'll pack my bags just yet.

Nor will I- doubt the queue is very long!!

[marcusarelus]

18 minutes ago, JimGant said:

You got the standard answer, dictated by the US Gov't, not Bangkok Bank. But search for the article PIB recently posted, which says Thailand will be let into the IDD community, and as such, you can now pick your bank of choice for your SS Direct Deposit -- and the account can be "normal," i.e., you can get an ATM card, and no need to show up in person. Timeline for this: dunno.

Found it

Edited October 29, 2018 by marcusarelus

[Thaidream]

2 minutes ago, marcusarelus said:

im I don't think you got it right.  Link please

Can't remember either but there was a link in the  information posted by the US Embassy that stated up and running by the 2nd Quarter of 2019

[marcusarelus]

edit

Edited October 29, 2018 by marcusarelus

[JimGant]

Quote

Link please.  With specific thread linked.

https://www.thaivisa.com/forum/topic/1050250-major-change-eff-1-apr-19-in-bangkok-bank-ach-transfers/?page=23&tab=comments#comment-13489683

Message 344.

When Thailand is accepted into the IDD community, your SS direct deposit should have no additional restrictions, samo samo you lived in Switzerland.

[Jingthing]

After all the issues we have came up with regarding this I decided to go with the direct deposit at Bangkok Bank today. This is what I was told had to happen:
My experience with Bangkok Bank.docx

You got the standard answer, dictated by the US Gov't, not Bangkok Bank. But search for the article PIB recently posted, which says Thailand will be let into the IDD community, and as such, you can now pick your bank of choice for your SS Direct Deposit -- and the account can be "normal," i.e., you can get an ATM card, and no need to show up in person. Timeline for this: dunno.
Do you think once that starts we can send to an existing Thai bank account that already has Atm access?

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[marcusarelus]

Maybe this has already been posted but it seems to me it means no problem verifying SS income. From American embassy website

 

The U.S. Mission in Thailand has been working with the Social Security Administration (SSA) regarding deposits directly intoThai banks. The SSA recently notified us that it has approved Thailand to participate in the International Direct Deposit (IDD) program. This will make proof of income easier. IDD will be implemented beginning in the first quarter of 2019. More infor-mation about IDD can be found at: https://www.ssa.gov/pubs/EN-05-10137.pdf  

 

 

[SnakeBite]

I don't know about peoples experience here but that is what I heard from the main office in BKK, I really don't care as I don't trust the banks here anyway and it's such a pain in the ass to change it anyway. I've spoken to other expats and they have told me the same, YOU CANNOT get an ATM card or checks sent from the US to the BKK bank. UP to you people, I'm not doing it.

 

Edited October 29, 2018 by SnakeBite

[mogandave]

wasn't trying to hide it, just wasn't aware of the need to report it, I was hauled aside, chewed out threatened and given a form to sign, they let me proceed telling me they don't care how much you bring just declare it.

You have to report funds you take out of the US?

[marcusarelus]

3 minutes ago, SnakeBite said:

I don't know about peoples experience here but that is what I heard from the main office in BKK, I really don't care as I don't trust the banks here anyway and it's such a pain in the ass to change it anyway. I've spoken to other expats and they have told me the same, YOU CANNOT get an ATM card or checks sent from the US to the BKK bank. UP to you people, I'm not doing it.

 

From American embassy website

 

The U.S. Mission in Thailand has been working with the Social Security Administration (SSA) regarding deposits directly into Thai banks. The SSA recently notified us that it has approved Thailand to participate in the International Direct Deposit (IDD) program. This will make proof of income easier. IDD will be implemented beginning in the first quarter of 2019. More infor-mation about IDD can be found at: https://www.ssa.gov/pubs/EN-05-10137.pdf  

 

So you will be able to get an ATM card first quarter of 2019.  You have been given all the advice to open an account now with no trouble and how to get an ATM card in a few months.  If you just want to complain that is of course a totally different matter. 

[marcusarelus]

5 minutes ago, mogandave said:

 

You have to report funds you take out of the US?
 

 

Yes anything over 10 grand

[Pib]

27 minutes ago, JimGant said:

You got the standard answer, dictated by the US Gov't, not Bangkok Bank. But search for the article PIB recently posted, which says Thailand will be let into the IDD community, and as such, you can now pick your bank of choice for your SS Direct Deposit -- and the account can be "normal," i.e., you can get an ATM card, and no need to show up in person. Timeline for this: dunno.

Well, if it turns out like IDD is for the Philippines, the Philippines banks still impose the same type of restrictions as the restrictions Bangkok Bank currently imposes for a Direct Deposit account which is a single name account only (no joint accounts allowed), no ATM card, branch visits required to withdraw funds, etc.  These restrictions driven by Social Security for certain countries.  Like below post/partial quote from a person with his social security going to a PI bank.  And there are other posts saying the same thing.   But at least IDD will ensure all SS beneficiaries in Thailand can continue to receive SS payments....and definitely fix this issue of some beneficiaries currently receiving SS payment to Bangkok Bank receiving the payment is the wrong ACH format (i.e, domestic ACH format) which Bangkok Bank New York will begin rejecting 1 Apr 19---but that's a whole separate story with several threads running on that.

 

http://www.expat.com/forum/viewtopic.php?id=616149#3467274

Quote

...no  bank here can  issue you an ATM card for  your SS account. You have to go in, in person every month to pick up your funds to avoid any type of fraud..

 

 

[marcusarelus]

13 minutes ago, Pib said:

Well, if it turns out like IDD is for the Philippines, the Philippines banks still impose the same type of restrictions as the restrictions Bangkok Bank currently imposes for a Direct Deposit account which is a single name account only (no joint accounts allowed), no ATM card, branch visits required to withdraw funds, etc.  These restrictions driven by Social Security for certain countries.  Like below post/partial quote from a person with his social security going to a PI bank.  And there are other posts saying the same thing.   But at least IDD will ensure all SS beneficiaries in Thailand can continue to receive SS payments....and definitely fix this issue of some beneficiaries currently receiving SS payment to Bangkok Bank receiving the payment is the wrong ACH format (i.e, domestic ACH format) which Bangkok Bank New York will begin rejecting 1 Apr 19---but that's a whole separate story with several threads running on that.

 

http://www.expat.com/forum/viewtopic.php?id=616149#3467274

 

What surprised me in looking at the website was the Embassy writing, "This will make proof of income easier" in the section announcing the end of the income letters. 

[mogandave]

Yes anything over 10 grand

Who do you report it to?

There is no customs or immigration when you exit the US.

I know you have to report brining money in, but I do not think you have to report taking it out.

[JackThompson]

3 hours ago, jmd8800 said:

Just be aware that there may come a day when that 'just hop across the border and get another visa' disappears in Mexico (or any country) as well. Just like it did in Thailand not too long ago.

I suppose they could be that foolish - but, so far, seem to have managed to resist shooting their citizens in the foot in that fashion.  Similar with Cambodia, Vietnam, and The PI, in this region - they aren't enacting policies to make their citizens poorer, at the behest of whatever corrupting influence. 

There is no logical explanation for removing self-sufficient foreigners spending foreign-capital into a nation's economy, unless they are engaged in criminal activity.

[marcusarelus]

4 minutes ago, mogandave said:

 

Who do you report it to?

There is no customs or immigration when you exit the US.

I know you have to report brining money in, but I do not think you have to report taking it out.

 

https://www.fincen.gov/sites/default/files/shared/fin105_cmir.pdf

 

Or you can google "reporting more than 10,000 when leaving usa"

[JimGant]

Quote

Well, if it turns out like IDD is for the Philippines, the Philippines banks still impose the same type of restrictions as the restrictions Bangkok Bank currently imposes

What a crock -- when is IDD not really IDD? Maybe Thailand will get honorary white man full acceptance into IDD....

[mogandave]

https://www.fincen.gov/sites/default/files/shared/fin105_cmir.pdf
 
Or you can google "reporting more than 10,000 when leaving usa"

I stand corrected...

[Pib]

4 minutes ago, JimGant said:

What a crock -- when is IDD not really IDD? Maybe Thailand will get honorary white man full acceptance into IDD....

Yea...just because a certain U.S. govt agency offers payment via IDD to certain countries, it does not mean there may not be certain restrictions associated with the account receiving the U.S. govt direct deposit payments...like say no ATM card, gotta show-up in person, etc.   Different rules for different countries. 

 

We'll just have to wait and see if all or just some or maybe just one (Bangkok Bank) Thai banks are allowed to receive SS payments "via IDD" which primarily uses the "SWIFT" system.  And what, if any, account use restrictions will apply.  And I'm sure Thai banks have say in whether they want to receive US govt payments or not as strings usually come along with those payments.   Let's hope "more/all" Thai banks will be able to receive payments via IDD and there will not be any, or at least fewer, account use restrictions...one can dream.  

 

[moontang]

56 minutes ago, mogandave said:

 

Who do you report it to?

There is no customs or immigration when you exit the US.

I know you have to report brining money in, but I do not think you have to report taking it out.

 

Money sniffing dogs scrutinizing people leaving.  A lady in AZ had a baby in her car and wasn't wearing a seatbelt approaching the port.  She was acting nervous...CBP found 170k in her car and took every penny.

Edited October 29, 2018 by moontang

[mogandave]

Money sniffing dogs scrutinizing people leaving.  A lady in AZ had a baby in her car and wasn't wearing a seatbelt approaching the port.  She was acting nervous...CBP found 170k in her car and took every penny.

So the dogs can tell how much money everyone has?

I would think everyone traveling internationally is carrying at least a few hundred dollars...

[fforest1]

1 hour ago, mogandave said:

 

So the dogs can tell how much money everyone has?

I would think everyone traveling internationally is carrying at least a few hundred dollars...

 

I think Thai women can sniff out who has the money better than the dogs could...

[david555]

SECOND try because forum failure :

here the official  document  (Irish version English as U.K. not available because eurozone non member...)to fill in for money in or out E.U. interesting reading on page 2 when what and how (example transit situation)

PDF File.pdf

[DogNo1]

There is, as yet, no evidence that the required retirement amount cannot be paid into a foreign bank account and that copies of statements from that bank account won't be accepted as proof of income.  Immigration has at times, in addition to my affidavit of income, required additional proof and the bank statements from my American bank have been examined and accepted.  The affidavit of income from the embassy has never constituted the sole proof of income.  Additional proof was always required at the discretion of the immigration officer.  It seems that many people have assumed that because an immigration officer did not request additional proof from them, the affidavit of income alone was sufficient.  It never was.  The new proof requirements have not yet been promulgated but it is premature to assume that statements proving that more than the equivalent of 65,000 baht is being paid monthly into a foreign bank account will not continue to be accepted.

[david555]

1 hour ago, fforest1 said:

I think Thai women can sniff out who has the money better than the dogs could...

Coincidence....? those sniffer dogs are mostly lady dogs ????

[Maestro]

19 hours ago, Mike Teavee said:

Sorry, I should have clarified that I was referring to your legal heirs in your home country / outside of Thailand.

 

 

Thank you for the clarification. 

 

In Switzerland, where I currently reside, the law is very much like in Thailand. I have no idea how it is in the other 200 or so countries on planet earth, nor does it really matter as the discussion was about the inheritance of the money deposited in Thai bank accounts by foreigners with temporary permission to stay in Thailand. Wouldn't Thai law apply to that?

[John7777]

Just reading through the thread.   I’m a little surprised about the special requirements for direct deposit accounts in certain countries. No ATM cards, etc.   There is no way I would have an account with those kind of restrictions. It’s an insult.  Anyway, whatever the solution, the simpler the better.  I could put 800,000 baht in a Thai bank, but why tie up my money that way?   I’ve been looking at Vietnam. It seems as though they would actually welcome an American ex-pat with money to spend. 

[Jingthing]

2 hours ago, DogNo1 said:

There is, as yet, no evidence that the required retirement amount cannot be paid into a foreign bank account and that copies of statements from that bank account won't be accepted as proof of income.  Immigration has at times, in addition to my affidavit of income, required additional proof and the bank statements from my American bank have been examined and accepted.  The affidavit of income from the embassy has never constituted the sole proof of income.  Additional proof was always required at the discretion of the immigration officer.  It seems that many people have assumed that because an immigration officer did not request additional proof from them, the affidavit of income alone was sufficient.  It never was.  The new proof requirements have not yet been promulgated but it is premature to assume that statements proving that more than the equivalent of 65,000 baht is being paid monthly into a foreign bank account will not continue to be accepted.

It is premature to assume any income based application at all without an embassy letter will be accepted. Get real. We know what we know about the future for people trying income based applications without embassy letters. NOTHING. People need to WAIT. For what? Either a clear announcement from Thai immigration or if they don't do that, individual reports of actual applicants at the various offices. Not chats with random officers. Actual experiences. Again, TOO EARLY. 

Edited October 29, 2018 by Jingthing

[Mike Teavee]

2 hours ago, Maestro said:

Thank you for the clarification. 

 

In Switzerland, where I currently reside, the law is very much like in Thailand. I have no idea how it is in the other 200 or so countries on planet earth, nor does it really matter as the discussion was about the inheritance of the money deposited in Thai bank accounts by foreigners with temporary permission to stay in Thailand. Wouldn't Thai law apply to that?

Sorry I thought the discussion was concerns people had about what would happen to their 800,000 should they die in Thailand & the point I was trying to make is that this would not automatically follow Estate Law and go to the relevant spouse/children outside of Thailand unless they wrote a Will in Thailand.

 

Or any other country for that fact - As an aside, it's a quirk of UK Law that Wills done in England & Wales (Maybe also NI) do not cover you for assets in Scotland so you need a separate Scottish Will covering these.

 

Regardless, I think we can agree that if you do have a "large" amount of money in any country (including your own) it makes sense to have a Will with instructions to ensure it's distributed as you would want it to be.