Exchange rates

[jacko45k]

9 minutes ago, wgdanson said:

That is NOT a necessity YET.

 

What will they show the Embassy to get their letter? 

Also some regional offices are prepared to accept this as reported here. I know, no official statement yet.

[wgdanson]

5 minutes ago, jacko45k said:

What will they show the Embassy to get their letter? 

Also some regional offices are prepared to accept this as reported here. I know, no official statement yet.

In a previous life in order to get a letter from the British Embassy, one had to merely show GROSS INCOME into a UK bank.

I have not seen any reports of people renewing their Extension to Stay using monthly payments into a Thai bank account. Anyone, please? And which Immigration Offices?

[jacko45k]

8 minutes ago, wgdanson said:

In a previous life in order to get a letter from the British Embassy, one had to merely show GROSS INCOME into a UK bank.

I have not seen any reports of people renewing their Extension to Stay using monthly payments into a Thai bank account. Anyone, please? And which Immigration Offices?

The post I am thinking of I believe said Chiangmai some 10 or so days ago. The poster said the IO informed him 'he would be prepared to accept'. I tried to search but the volume of posts here makes that tough. 

I reiterate there is no official statement. But keep in context I was responding to a 'only change cash' rant.

[onera1961]

18 hours ago, wgdanson said:

Go to First Direct website where it says, and I have done it several times, transfers to other banks be it in UK or here, are fee free.

So, how do they make money if it is free? They must be making in exchange rate and giving a lower exchange rate. Like when you send money, they only charge $5 but make up their profit from a lower exchange rate. 

[wgdanson]

6 minutes ago, onera1961 said:

So, how do they make money if it is free? They must be making in exchange rate and giving a lower exchange rate. Like when you send money, they only charge $5 but make up their profit from a lower exchange rate. 

There is no exchange rate involved GBP from UK bank to FCA in Bkk Bank. Been there done it several times. 

[onera1961]

14 hours ago, observer90210 said:

that's why, bring ca$h, if possible of course.....

 

..avoids all the bank cheating transfer fees and bad exchange rate ..all just a bunch of thieves these banks and money transfer instutions should they be "wise" or not !!!.....

 

However, cash obviously not always possible, but if you can, ca$h rules and exchange at SuperRich.... case closed.

I don't understand. You still have to exchange it. And the exchangers will take their cuts. May be not in fees etc. but some how they will make a profit. Thai baht is not in a crisis and no black market exists that somebody will give you more than the retail bank rate. I will worry about carrying 25K USD with me. 

[murraynz]

my pension gets transferred from nz each 28days---i reguarly check exchange rates with my own bank in nz..

i ALWAYS  find that i actually receive  a higher net{after any fees} rate,once it shows in my bkk bank account..

i dont complain about that...suits me..

[lopburi3]

17 minutes ago, murraynz said:

my pension gets transferred from nz each 28days---i reguarly check exchange rates with my own bank in nz..

i ALWAYS  find that i actually receive  a higher net{after any fees} rate,once it shows in my bkk bank account..

i dont complain about that...suits me..

If you send foreign currency the exchange rate will the the TT rate posted at Bangkok Bank less .25% exchange charge in range 200-500 baht and any fee you home or intermediate bank may charge.  

[cleverman]

5 hours ago, lopburi3 said:

There is no such requirement for 65k each month presently - the current requirement is Embassy letter of income.  Until Immigration makes an announcement nobody knows what may be required, or even if anything other than letter will be accepted.

I should have said after the embassy letter cut off date. But as you all know the Oz embassy will continue to certify documents that prove your income. As I was told by them about a month ago .

[lopburi3]

14 minutes ago, cleverman said:

I should have said after the embassy letter cut off date. But as you all know the Oz embassy will continue to certify documents that prove your income. As I was told by them about a month ago .

But that is not the current requirement - the Embassy document must certify your income - so at this time it is not known if that method would be acceptable in the future or not.

[Nong Khai Man]

22 hours ago, DrJack54 said:

So how many people are depositing EXACTLY 65k monthly into their Thai bank.

I Wish I Could !!!

[lamyai3]

23 hours ago, wgdanson said:

The secret is that you must have a First Direct account.

Does this apply to their free current account, or just the one with the monthly fee? 

[gaviny]

I should have said after the embassy letter cut off date. But as you all know the Oz embassy will continue to certify documents that prove your income. As I was told by them about a month ago .

Are you sure mate , I'm thinking if you show Oz Embassies the documents they will not take it on face value but would have to verify it from the originating source, which they aren't willing to do.

Sent from my Redmi Note 6 Pro using Thailand Forum - Thaivisa mobile app

[wgdanson]

21 minutes ago, lamyai3 said:

Does this apply to their free current account, or just the one with the monthly fee? 

If you have a monthly deposit of £1000 plus a Direct Debit (to the National Lottery makes it legal) there is no charge. Otherwise a tenner a month.

 

Does it not say this on their website?

[kevin612]

overall, the baht is too strong, it needs to slow down.

[farangx]

8 minutes ago, kevin612 said:

overall, the baht is too strong, it needs to slow down.

It is waiting to be short ....

[lamyai3]

2 hours ago, wgdanson said:

If you have a monthly deposit of £1000 plus a Direct Debit (to the National Lottery makes it legal) there is no charge. Otherwise a tenner a month.

 

Does it not say this on their website?

Oh, it sounds like the paid account only. I have the free current account with them since many yesrs, no income needed, just a savings account alongside. Don't think mine would qualify for the free transfers. 

[wgdanson]

2 minutes ago, lamyai3 said:

Oh, it sounds like the paid account only. I have the free current account with them since many yesrs, no income needed, just a savings account alongside. Don't think mine would qualify for the free transfers. 

I pay nothing per month, but get the free transfers. Phone and ask.

[cleverman]

3 hours ago, gaviny said:

Are you sure mate , I'm thinking if you show Oz Embassies the documents they will not take it on face value but would have to verify it from the originating source, which they aren't willing to do.

Sent from my Redmi Note 6 Pro using Thailand Forum - Thaivisa mobile app
 

You have made three assumptions.i don't make assumptions, just report what the embassy told me, will that change, I don't know.

[wgdanson]

1 hour ago, cleverman said:

You have made three assumptions.i don't make assumptions, just report what the embassy told me, will that change, I don't know.

•  

Because of the flexulations in the exchange rates, people will have to have their home country bank transfer the 65000 in baht. 

 

Is that not an assumption.

[observer90210]

10 hours ago, onera1961 said:

I don't understand. You still have to exchange it. And the exchangers will take their cuts. May be not in fees etc. but some how they will make a profit. Thai baht is not in a crisis and no black market exists that somebody will give you more than the retail bank rate. I will worry about carrying 25K USD with me. 

Of course carrying ca$h can be dangerous, but I never ran into a problem. It is all a matter of which rate is given which means how much THB will you get as that is the main issue. On transfering and even assuming your have 0 cost of transfer from your bank, the receiving bank in Thailand will always give you less THB then if you carry cash and change it at a Superrich brank branch that gives one of the best rates which means you get more THB. This of course in my humble personnal experience and if anybody has a better alternative, it would be nice to share it.

[cleverman]

2 hours ago, wgdanson said:

•  

Because of the flexulations in the exchange rates, people will have to have their home country bank transfer the 65000 in baht. 

 

Is that not an assumption.

Where did I say that, I did not. "I'm thinking"." They will have to take It on face value" " they arnt willing to do". That is the three assumptions. This why I am known universally as the Cleverman. 

[wgdanson]

10 hours ago, cleverman said:

Where did I say that, I did not. "I'm thinking"." They will have to take It on face value" " they arnt willing to do". That is the three assumptions. This why I am known universally as the Cleverman. 

You said that in your original first post. And you are assuming that everyone in the universe knows you.