Borrow 800'000B for yearly Extension ?

[balo]

45 minutes ago, Parsve said:

You have to pay about 25 000 baht for a one year's visa

I've been told 18k , you pay too much . 

[onera1961]

6 minutes ago, balo said:

I've been told 18k , you pay too much .

Somebody told me it goes down as you use the same agent year after year. For the first time, they will charge you a little higher. "Know your customer" kind of thing

[jacko45k]

3 hours ago, DrJack54 said:

Best have health insurance here as well if that's the situation.

I do consider the 800k, and a bit more, as emergency money!

[MekkOne]

He should try a gofundme camping is always working when people got accidents, it could work for 1 year extension too!

[JackThompson]

6 minutes ago, SheungWan said:

Might I suggest that the risk of using an agent for visa extension is about on par with using company formation for the purchase of a property in Thailand?

Foreigners buying land is more politically-charged than some guy getting a 1-year permission-of-stay.

[Jumbo1968]

On 11/20/2018 at 11:52 AM, DrJack54 said:

Use visa agent. 25000 baht. Easy peasy. 

25000 baht, rip off, 13000 here in Pattaya when a colleague enquired at an Agent.

He was using the Income letter before but obviously after next year he can’t and doesn’t have 800000 baht.

Edited November 25, 2018 by Jumbo1968
Mistake

[Golden Triangle]

As I have mentioned on various threads associated with this subject, I have sufficient funds in the UK to cover the 800,00 Baht, unfortunately with the exchange rate on xe.com 2 minutes ago was 42.42 to the UK £ so what used to cost around 15-16 k £ now comes to around 20,000 k £, my 2 pensions combined don't quite make the required 65 k Baht due to the exchange rate either, I suppose I could use the mix of the 400k + in my account with my pension deposits to meet the requirement but I have never gone that route and would be worried about a refusal, so, for peace of mind, at least for my next one, due early next year I will use an agent.

 

If we get a reasonable Brexit deal then maybe, just maybe the £ will start to recover or I'll have to bite the bullet and transfer some funds and deposit it into a separate account and top up once a month with 1000 Baht just to keep immigration sweet on my next extension renewal.

 

Troubling times for some people who simply want a quiet, trouble & worry free retirement.   

[poohy]

 

2 hours ago, david555 said:

Contact is basically a money lender charging ridiculous fees and illegal interest rates!

Surely a better idea is for gentleman to open a new bank account with Atm card

Borrow 800k credit account from a friend gives them atm card in case of emergencies and minimize risk

Pay say 5K per month interest

Then after  the 3 months return/withdraw  money.

 

Almost sounds like it’s been done already eh?

2 hours ago, david555 said:

Sound good and noble gesture amongst true trustful friends ????…. but  1 remark about the debit card holding … is not a 100% safe case , as easily bypassed by the account holder reporting card lost and a new one is ready in less than 30 minutes and working , old one void  !!!

Maybe a solution for a desperate one to go back country origin well funded with cash …???? oh gosh..., what I did now …. a new Pattaya scam is suggested..????

Of course this is an arrangement with friends i suppose for others not so trustworthy or well known to you (but then again why would you lend leave it to money lenders !)maybe you could hold passport as well  

[DrJack54]

1 hour ago, onera1961 said:

Don't know about AU but in the USA, social security is an insurance that I and my employers have paid (combined 12.5% of my gross income) for at least 10 years. I once did a calculation that if I had invested the money in S&P 500, I could buy an annuity at 62 for a higher returns. So, no government would be taking care of me when I am 62.

In AU its compulsory 9% matched by 9% from employer. That's my point. I'm 65 Australian. How someone can reach age of 65 and have so little they cannot afford to retire in los. Yes as I mentioned previously, some people have had very bad luck. Some work for cash (no superannuation), never pay tax, never put away for future. Some collect benefits along the way. Go retire and live in los and find there a few very basic rules. The income letter was always a nonesence. As has been mentioned.... (For au embassy at least) there was no proof of funds/income. It amounted to stat dec. Then some member will jump in with comment false SD is serious offence. Who pray tell will follow up with charge here or home country. The embassies should never have been providing endorsement. However this thread is about the 800k method and elderly member from USA (I think) unable to come up with 800k for 3 months. Deary me, how many xpats in Thailand are living here out of seat of their pants.

Edited November 25, 2018 by DrJack54
Error

[bkk6060]

18 minutes ago, Jumbo1968 said:

25000 baht, rip off, 13000 here in Pattaya 

More like your information is bogus.

[JackThompson]

46 minutes ago, DrJack54 said:

I realize there are hard luck stories, but geesuz surely most people have acquired some wealth while on planet earth or was it all sex drugs and rocknroll.

Only the very lucky were able to blow their savings on the fun-stuff.  Most experienced savings-drains from more mundane, periodic expenses.
 

36 minutes ago, steve73 said:

Others drink only rarely, and prefer small Thai dishes to overpriced western food

Bingo.  I'm not sure if the comments to the contrary are people who really don't know - always been/lived rich and don't actually know what "living like a pauper" is really like - or are just plain trolling.  I lived "like a pauper" when I was first starting out.  How I have lived here, on a "pittance," is nothing like that.

 

37 minutes ago, ukbiker said:

How about 2 3 or 4 friends pooling funds and transferring funds to each others bank accounts 90 days before visa due dates. I know the visa due dates will need to be 3 months apart but you can apply up to 30 days early that gives some leeway. I can't see this breaking any laws or does it? Then only 200,000 is tied up.

It doesn't break the law, and this happens.

[Jumbo1968]

Just now, bkk6060 said:

More like your information is bogus.

Nope, why would my colleague lie to me me, going rate in Pattaya is 13 to 15000 baht..

[ukbiker]

2 minutes ago, Jumbo1968 said:

Nope, why would my colleague lie to me me, going rate in Pattaya is 13 to 15000 baht..

I've been quoted as little as 10,000, but totally illegal.

[JackThompson]

7 minutes ago, Jumbo1968 said:

Nope, why would my colleague lie to me me, going rate in Pattaya is 13 to 15000 baht..

Just before I left Pattaya, I spoke to someone who just paid 13K to their agent.  I should have inquired further, but never anticipated this "embassy-letter" rug-pulling trick. 

 

So I know that was a going-rate as of late last year.  I'm not down there now, but several are reporting that price range, and not sure what would be the point of lying.  Maybe someone can snap a photo of an offer on Soi Bukow, just to satisfy the naysayers.

 

Edit: Make sure the ph# is clear - I might need this as a last-option backup plan, depending on what immigration does next.

Edited November 25, 2018 by JackThompson

[bkk6060]

8 minutes ago, DrJack54 said:

 Deary me, how many xpats in Thailand are living out of seat of their pants.

Many many.

And sure there are some retired "victims" of circumstances.  But, mostly bad decisions, lack of educating themselves, wasting money, lack of planning.

They need to look in the mirror for blame and not at their local IO.

[khunPer]

On 11/20/2018 at 5:46 AM, Pattaya46 said:

2% interest per month

Maximum legal interest is 15% p.a.; i.e. 1.5% a month, calculated annually or end of term.

[Vacuum]

On 11/21/2018 at 2:41 PM, rott said:

I wonder when "borrow you" became the accepted expression rather than lend you.

In Thailand 'a gift' would be more appropriate.

[catman20]

On 11/20/2018 at 11:52 AM, DrJack54 said:

Use visa agent. 25000 baht. Easy peasy. 

15,000 your being over charged

[catman20]

On 11/20/2018 at 11:51 AM, Jingthing said:

Yeah, that fee is ridiculous.

Sounds like a business opportunity if people can do that formally for a reasonable fee.

It should be noted it is not illegal to fund these accounts by loans.

There are the seasoning requirements but there is no language saying it can't be loaned money.

Of course then there are the "agents" that have been offering bank based extensions without the applicant having either the money or the seasoning. Without getting into the "legality" of those schemes, there is always the chance of a major crackdown on that practice, if that isn't happening right now already.

i dont think the fee is ridiculous. its being loaned as a business deal, right ? not a friendship loan. if you was going to loan a stranger the money how much would you want ?

[Spidey]

23 minutes ago, bkk6060 said:

More like your information is bogus.

Nope, I too know of someone who has payed 13k baht in Pattaya. Not sure you'll get it that cheaply in the future.

[yodsak]

19 minutes ago, Jumbo1968 said:

Nope, why would my colleague lie to me me, going rate in Pattaya is 13 to 15000 baht..

Exactly,, common knowledge in patts,, hassle free and very popular,, one in soi buakhao. 12,900. for anyone,,   10k a thing of the past i'm afraid,,,inflation

 tick tock  and others charge 15k.  

[Vacuum]

2 hours ago, Peterw42 said:

Maybe you are unaware of how the agents work, they dont present fake documents, they have access to high level immigration officers who have the discretionary power to approve an extension without the correct funds or 90 days seasoning. A high level IO can waive the bank letter, the 90 days, the amount etc

Its a legal extension usually done by the boss, who can approve anything.

If so, what's the point going to the bank and opening an account?

[Pattaya46]

2 minutes ago, Vacuum said:

If so, what's the point going to the bank and opening an account?

They can wave the 2-3 month seasoning,

but bank letter and other required documents still needed.

Probably they must have a file that looks like a normal one.

[Pattaya46]

I would be rather anxious if thinking in using an agent...

Imagine a "crackdown" on Agents just when you need them :

You didn't make the 12mx65k and don't have the 3mx800k.

What do you do now ?? 

Edited November 25, 2018 by Pattaya46

[KhunFred]

4 hours ago, Chicken George said:

Use a visa agent and risk 5 years in prison. No good saying you did'nt know they use Fake documents..

 

This is a new revelation to me. Using a VISA AGENT puts you in danger of a five year prison sentence, when some of the visa services advertise that you can see their "agent" at immigration?   Is this an exaggeration or a true danger for those who use visa services? If so, it's no wonder that many end up in prison here.

[bkk6060]

Some of the comments are funny.

Reminds me of a thread where people claimed you can walk into any bank in Bangkok and get an account with a passport only here on visa exempt.

It was always:  I heard, my friend, I read blah blah.  Not one person could provide an true accurate information as to where to get such an account.

 

I know some agents here also no one is going to do an extension that requires seasoning for 13k.  Maybe for a friend of theirs if you have all your ducks in a row and bank or income documents already and just too lazy to do it yourself.  But then add on the fees and multiple entries and you are at about 20k.

 

But if so; it is a well used, accepted and advertised service even on TV.  No reason to be afraid. Lets hear from those who have personally (names, location) dealt with an agent who will do extensions for 13,000 b or less as claimed......

 

 

 

Edited November 25, 2018 by bkk6060

[Peterw42]

17 minutes ago, Vacuum said:

If so, what's the point going to the bank and opening an account?

I think they at least want to see an account even if its empty or the money went in yesterday etc. IO can approve with not having the funds etc but probably pushing it to approve without even having a bank account

[Jumbo1968]

4 minutes ago, KhunFred said:

This is a new revelation to me. Using a VISA AGENT puts you in danger of a five year prison sentence, when some of the visa services advertise that you can see their "agent" at immigration?   Is this an exaggeration or a true danger for those who use visa services? If so, it's no wonder that many end up in prison here.

Too many snouts in the trough, the Agent pays the Bank for the letter, he takes a cut and the IO take the rest.

1900 baht to renew, say Agent charges 15000 baht, 13100 baht left, nice little earner. 

[JLCrab]

3 hours ago, Peterw42 said:

Maybe you are unaware of how the agents work, they dont present fake documents, they have access to high level immigration officers who have the discretionary power to approve an extension without the correct funds or 90 days seasoning. A high level IO can waive the bank letter, the 90 days, the amount etc

Its a legal extension usually done by the boss, who can approve anything.

That is an interpretation from Section 35 of the Immigration Act of 1979. What persons like yourself choose to conveniently omit is the last paragraph where it says:

 

Each application of an alien for extension of temporary stay shall be made in the form and with payment of fees as prescribed in the Ministerial Regulations.

 

So for you to claim that requiring a payment of 10 times what is the Ministerial Regulation for a one year extension of stay is a legal extension is dubious.

 

Edited November 25, 2018 by JLCrab

[Jumbo1968]

1 minute ago, bkk6060 said:

Some of the comments are funny.

Reminds me of a thread where people claimed you can walk into any bank in Bangkok and get an account with a passport only here on visa exempt.

It was always:  I heard, my friend, I read blah blah.  Not one person could provide an true accurate information as to where to get such an account.

 

I know some agents here also no one is going to do an extension that requires seasoning for 13k.  Maybe for a friend of theirs if you have all your ducks in a row and bank or income documents already and just too lazy to do it yourself.  But then add on the fees and multiple entries and you are at about 20k.

 

But if so; it is a well used, accepted and advertised service even on TV.  So, lets hear from those who have personally (names, location dealt with an agent who will do extensions for 13,000 b or less as claimed......

 

 

 

I enquired at one in Pattaya recently out of curiously just after Big Jock was appointmed, 12900 baht although they won’t open a Bank account for you now.