How much do you think Thai Banks will love no more income letters

[anon537687643]

I would burn every last $$ than give to a Thai bank,or Person for that matter


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[luckyluke]

3 minutes ago, bkk6060 said:

Two of my friends got their extensions this week at Chonburi using the letters.  But, both were told by different IO's at some point next year it will change and only the 800, 000 in the bank will qualify.

What are the nationality of your friends, please ?

 

May be important.

 

If they are American, Australian, British, Danish, they have, indeed, only the possibility of money in the bank, as their embassy won't issue a L.o.I. anymore.

 

[KhunFred]

27 minutes ago, bkk6060 said:

Two of my friends got their extensions this week at Chonburi using the letters.  But, both were told by different IO's at some point next year it will change and only the 800, 000 in the bank will qualify.

 

That simply means that the retirement plans of myself and many other expats have been derailed. I gave up everything to move here, now I have nothing to go back to. Thanks to petty squabbling between bureaucrats. The expats always lose.

[KhunFred]

Being forced to use an expensive Visa agency is highway robbery. My 79 or 80 thousand baht a month takes a huge hit when divided with these robber barons.

[jacko45k]

On 11/20/2018 at 7:50 AM, puchooay said:

You could write a will to make things easier. No need for a lawyer.

You would need a court order to make the bank release the funds so a lawyer needed.

[jacko45k]

On 11/20/2018 at 9:01 AM, cyberfarang said:

If you are married to a Thai, bung 1.6 million in the account and put it in joint names.

A joint account will not qualify for an extension.

[puchooay]

1 hour ago, jacko45k said:

You would need a court order to make the bank release the funds so a lawyer needed.

Not so.

[puchooay]

1 hour ago, jacko45k said:

You would need a court order to make the bank release the funds so a lawyer needed.

I am talking about a will.Not probate. That is a totally different issue.

Edited November 22, 2018 by puchooay

[Peterw42]

14 minutes ago, puchooay said:

I am talking about a will.Not probate. That is a totally different issue.

The execution of a will is probate, Funds and assets are frozen,  Probate is the judicial process by which a decedent's estate is valued, beneficiaries are determined, an executor in charge of estate distribution is declared, and the estate is legally transferred to the determined beneficiaries. The government checks the will, no other claims, creditors etc, issues a probate certificate and you take it to the bank and get the money.

You dont just rock up to the bank with a will in your hand.

Edited November 22, 2018 by Peterw42

[Naam]

On 11/20/2018 at 10:34 AM, bikerlou47 said:

Can not be in joint account for immigration purposes.

incorrect information! we have a joint account which i am using for immigration purposes (annual extensions) and a single account in the name of my (non-thai) wife she uses for the same purpose.

[scorecard]

Back to the original topic:

"How much do you think Thai Banks will love no more income letters"

 

Do banks charge for these letters, or are they free? 

 

 

[puchooay]

14 minutes ago, Peterw42 said:

The execution of a will is probate, Funds and assets are frozen,  Probate is the judicial process by which a decedent's estate is valued, beneficiaries are determined, an executor in charge of estate distribution is declared, and the estate is legally transferred to the determined beneficiaries. The government checks the will, no other claims, creditors etc, issues a probate certificate and you take it to the bank and get the money.

You dont just rock up to the bank with a will in your hand.

People seem to be getting confused here. I said "No need for a lawyer to make a will". Someone else mentioned probate.

[bkk6060]

2 hours ago, luckyluke said:

What are the nationality of your friends, please ?

 

May be important.

 

If they are American, Australian, British, Danish, they have, indeed, only the possibility of money in the bank, as their embassy won't issue a L.o.I. anymore.

 

Both American.

This is just what they were told the comments initiated by IO's.

Who knows whether any truth to it my personal feeling is 50-50.

[scorecard]

Just now, puchooay said:

People seem to be getting confused here. I said "No need for a lawyer to make a will". Someone else mentioned probate.

 

Agree lot's of confusion on the meanings and processes involved.

 

A few years back a western acquaintance mentioned that his bank manager had said to his Thai wife (farang was present); 'just get a medical report that your husband is dead and bring it and tell me where to transfer all the money (several accounts).' 

 

 

[sirocco]

post 101, hello
Bank SCB Hua Hin: 200 b the letter with photocopy of the passbook and statement on 3 months

[Sparkles]

On ‎11‎/‎20‎/‎2018 at 7:45 AM, bikerlou47 said:

So after you are dead and burned your account will live on?

You can have a silent ,non disclosed signotary on your 800,000b long term investment account if you wish.

In case of your passing.the signotary can present a death certificate and withdraw the money and close the account.

 

Thats the advice I was given by a long term,reliable bank officer

[HHTel]

2 hours ago, luckyluke said:

What are the nationality of your friends, please ?

 

May be important.

 

If they are American, Australian, British, Danish, they have, indeed, only the possibility of money in the bank, as their embassy won't issue a L.o.I. anymore.

 

As I and a few others have stated, IO's from various offices have said ALL embassy letters are cancelled.  However, nobody knows for sure.  We'll see.

[Pattaya46]

13 minutes ago, HHTel said:

As I and a few others have stated, IO's from various offices have said ALL embassy letters are cancelled.  However, nobody knows for sure.  We'll see.

I just can't believe that. For such an important change, TI would have informed ALL embassies long ago. Many of the "other" embassies have confirmed to their citizen that there was absolutely no change known/planned concerning the Income Letters.

[jacko45k]

40 minutes ago, scorecard said:

 

Agree lot's of confusion on the meanings and processes involved.

 

A few years back a western acquaintance mentioned that his bank manager had said to his Thai wife (farang was present); 'just get a medical report that your husband is dead and bring it and tell me where to transfer all the money (several accounts).' 

 

 

I wish it were that easy, but a lawyer told me not. So much that one should ensure a bereaved wife has access to sufficient funds to survive and fund execution of probate.

[HHTel]

The only thing that TI has informed the embassies of, is that an income letter must be verified. I think it's been generally agreed that no embassy can do that.  Personally, I think the TI has shot themselves in the foot and really haven't worked out what to do about it.

[luckyluke]

Well hundreds of Austrians, Belgians, Dutch, French, Germans, Italians, Norvegians... still believe that everything is OK with their L. o. I. as they haven't revived any information from their Embassy/Consulate, neither from T.I., that their L.o.I. is, or will not be more valid. 

[Pattaya46]

8 minutes ago, HHTel said:

The only thing that TI has informed the embassies of, is that an income letter must be verified. 

I think some of you give way a way too strict definition of "verify", very probably not the one TI was thinking about. And again, it's nothing new. The statement "Letter from the applicant’s Embassy verifying their pension or other income of the applicant which must not be less than 65,000 Baht per month." is on Bangkok Immigration website for years...

 

11 minutes ago, HHTel said:

I think it's been generally agreed that no embassy can do that. 

No. It may be true for UK, US, AU (and still unsure) but many European countries can easily verify our Income on the Tax Service website. (This of course requires that we show them our Revenues Tax Notice).

[luckyluke]

28 minutes ago, HHTel said:

that an income letter must be verified. I think it's been generally agreed that no embassy can do that. 

Maybe they can not or/and don't do it properly, or at least in the way some here pretend they should do it.

But consulates/embassies still take their responsibility to issue and sign a L.o.I. (Not an Affidavit).

The day the new regulations, issued by T.I. will see the light, we will know more and it may included that a L.o.I.

is no more needed. 

It may even include directives that no one now is expecting. 

But all that is  speculations. 

Of course some will pretend that some negative speculations are real, the ones which doesn't concern them. 

Other speculations which than concern them well, are catalogued as pure fables and fear propaganda. 

 

Edited November 22, 2018 by luckyluke

[Olmate]

1 hour ago, scorecard said:

Back to the original topic:

"How much do you think Thai Banks will love no more income letters"

 

Do banks charge for these letters, or are they free? 

 

 

Think the post was about more than the cost of the letters,it’s the fact they are being gifted 800K from all us, not from me thanks!Rather go back home to renew or use the agents.Dont forget where you are,in a country under military rule!

[flexomike]

On 11/19/2018 at 9:31 PM, bikerlou47 said:

Maybe because it is your wife? I will check with Bangkok Bank to see if I can do the same..thanks.

please post what the bank says, mine is very poor at English, would like to do this also

[Pattaya46]

11 minutes ago, Olmate said:

Think the post was about more than the cost of the letters,it’s the fact [Thai banks] are being gifted 800K from all us!

Thai banks were already "gifted" 800k/400k by the majority of expats under Retirement/Marriage extension.

This will not change things a lot for them.

 

13 minutes ago, Olmate said:

//, not from me thanks! // Dont forget where you are in a country under military rule!

Banks maybe safer here than on some western countries...

[marcusarelus]

On 11/20/2018 at 6:52 PM, IAMHERE said:

My fear is that someday we'll all be given three days to get out of the country and that those three days will be a bank holiday.

Never a holiday for an ATM. 

[Olmate]

6 minutes ago, Pattaya46 said:

Thai banks were already "gifted" 800k/400k by the majority of expats under Retirement/Marriage extension.

This will not change things a lot for them.

 

Banks maybe safer here than on some western countries...

I suggest the majority used the income or combo method ,but Ok would love to know the$ amounts involved, bet TI could tell you and as for safe banks and army rule?

[Pattaya46]

1 minute ago, Olmate said:

I suggest the majority used the income or combo method ,but Ok would love to know the$ amounts involved, bet TI could tell you and as for safe banks and army rule?

About method used, you can have an idea from this topic :

47% : 800/400k in bank

37% : 65/40k income letter

 

 

 

 

[Olmate]

27 minutes ago, Pattaya46 said:

About method used, you can have an idea from this topic :

47% : 800/400k in bank

37% : 65/40k income letter

 

 

 

 

Thanks for that,interesting,point taken Still leaves 53% who now have to add 800K to the slush fund if that’s now the only way out.And I wonder how many of the “in bank”respondents used an agent? I used bank method too but just not in Thailand.