6 hours ago, wgdanson said:

Thank Sheryl. Just called my First Direct Bank in UK who tell me SWIFT transfers in GBP are FREE of charge. I did one in January, but it came out on my Foreign Currency Account statement as a NO BOOK TRANSFER, as did one from my Pension company. All my T'wise to my Savings account in THB say FTT.

It's a minefield. 

Some reasonably good news. Just did a £100 transfer from First Direct to my Bkk Bank Savings. Arrived four hours later at Bkk Banks TT rate and the statement said International Transfer. 

Will do the same via T'wise now.

 

 

 

4067 via First Direct, 3982 with T'wise.

T'wise will probably get better the more you send. First Direct is FREE, no charges at either end....yet!

Its sort of like governing by Prayut, except the Big Joke doesn't need an S44, he just pulls things out of his arse and calls it a new regulation.

Correct me if I am wrong, I am confused about 6b. If the retiree entered the kingdom before Oct 21, 1998, how can he one she be less then 60 years old?

13 minutes ago, Pattaya46 said:

Minimum balance history :

800 800  (X)  800 800 800 / 400 400 400 / 400 400 400 / 400 800 800  (X+1) …

At least with Kasikorn that would mean you have to remember to update the bank book every month, or they'll after N months (I think three?) just bundle it all into one line. Another lovely hassle to have.

23 hours ago, mlkik said:

800.000 baht is not very much if you genuinely have retired and have committed to living in Thailand.

Maybe the people getting worried do not really have enough to retire here?

Enough to "retire here" or enough to satisfy immigration?  Those are completely unrelated things.  Condo-rent+bills for a retiree does not jump from 10K to 30K/mo (45 Sqm, Jomtien Beach, high-floor w/ sea-view), just because immigration raises whatever bar for getting an extension.  Health Insurance is still available starting at 2200 Baht/mo or so. 

 

23 hours ago, mlkik said:

Interest rates here are no worse than my home country. I am not wealthy enough to speculate and possibly lose on the investment of stocks and shares . Therefore I see no reason not to have savings here.

At first, I thought this must be policy for March 2020 - but literally 1-month's notice?  No grandfathering?  That is severely unreasonable when dealing with people who may have RETIRED here - i.e. "Not planned to move again."  Maybe next time, it's 7 days to get out? 

 

I see no reason to put a significant portion of one's savings in a bank in a country which has made it clear we have no right to be here at all.  As just demonstrated, the rules can change with as little as ONE Month's Notice. 

 

The key to stocks and such is a "well balanced portfolio" - right?  So how much would someone "risk" in a foreign-country whose govt is spitting in their face with this rush-change?  Maybe 5%?  Certainly not more than 10% - the amount one would put in precious metals - right?  But the metals won't go to zero, whereas the govt could give an "order" to freeze all foreigner's accounts the same day they announce our "1-week to leave."  Who knows? 

This is a crazy move.  Expect major backlash and tens of thousands of Thai jobs lost as expats bail out - a portion because this move is unaffordable to them, but the majority because of the signal this rushed-change indicates about their being safe to stay here in the long-term.

if you meet the criteria i cant see why it should be such a problem. 

They exxpected that we respect their laws and culture. As we are part of the society,(maybe for decades) i expect respect from them as well


Sent from my iPad using Thailand Forum - Thaivisa mobile app

18 minutes ago, Pattaya46 said:

Why made it a different way than the current one ?

They will just look at your passbook at your next extension

and will check that during the year balance stayed over 800 or 400k.

 

Minimum balance history :

800 800  (X)  800 800 800 / 400 400 400 / 400 400 400 / 400 800 800  (X+1) …

And if you travel often, being retired you might not need to go near your Imm' office all year ( clock reset on entry for 90 day report ) will you have to carry your updated bank book to show on entry, airport/land border?? or still have to go to the local Imm' office??

Questions by the way in case some people who don't know what a ? is and think I'm stating a fact. ????????

At first, I thought this must be policy for March 2020 - but literally 1-month's notice?  No grandfathering?  That is severely unreasonable when dealing with people who may have RETIRED here - i.e. "Not planned to move again."  Maybe next time, it's 7 days to get out? 
 
I see no reason to put a significant portion of one's savings in a bank in a country which has made it clear we have no right to be here at all.  As just demonstrated, the rules can change with as little as ONE Month's Notice. 
 
The key to stocks and such is a "well balanced portfolio" - right?  So how much would someone "risk" in a foreign-country whose govt is spitting in their face with this rush-change?  Maybe 5%?  Certainly not more than 10% - the amount one would put in precious metals - right?  But the metals won't go to zero, whereas the govt could give an "order" to freeze all foreigner's accounts the same day they announce our "1-week to leave."  Who knows? 

This is a crazy move.  Expect major backlash and tens of thousands of Thai jobs lost as expats bail out - a portion because this move is unaffordable to them, but the majority because of the signal this rushed-change indicates about their being safe to stay here in the long-term.

Tens of thousands of thais will lose their jobs because poorer farangs can't raise 800k?

[emoji23]

23 hours ago, trainman34014 said:

Marriage Extensions are not painful at all, been doing them for twelve years and never had a problem.  People cause their own problems by not preparing properly.

Lucky you - must be a good office.  I've read stories about those here.

 

I was prepared with everything on the official list, plus the extras recommended on this site.  I then met everything they added in the next 2 visits (added more each time) - until they added a 3rd new-thing which was impossible to get. 

 

I got the message, loud an clear, "Go to an agent and pay us off!  We are crooks who don't give a dang about honesty and the qualifications.  Don't you get that you stupid farang?"  I got a Non-O ME Visa, instead, corruption-free (they hate that).

 

On 1/31/2019 at 7:42 PM, trainman34014 said:

The Agents can't do this fake stuff for Marriage Visa's as they need more back up paperwork that they can't provide.

On the contrary - it is the IOs doing the faking.  The agents just provide the 5-minute loan, to generate the bank letter.  Many get marriage-extensions via agent - primarily because some offices put you through hell unless you pay them off via an agent.

 

On 1/31/2019 at 7:42 PM, KiChakayan said:

Considering the evidence scattered around here of many people abusing the system, it makes bloody sense. Only hope that the 3 months formality can be made jointly with the first 90 days report.

You mean the "abuse" which the IOs encourage, support, and sometimes force, on a grand-scale? 

 

Or do you mean barstool talk about some guy who says he stupidly risked a felony-conviction in his passport-country to lie on an embassy-letter - all so he wouldn't have to fork over another 10K more than the letter / trip cost to an agent?

 

On 1/31/2019 at 7:49 PM, wwest5829 said:

I recognize Thailand’s right and necessity of cracking down on those trying to game the system.

So they frog-marched the thousands of immigration officers and agents who worked together to "game the system" out today for the press - right?

 

No, they made up more ways to force more agent-use to line their pockets, instead - just like the embassy-letter move.

On 1/31/2019 at 8:35 PM, madmitch said:

And I thought the 800,000 baht was for living expenses, not as am interst earner for the Thai banks!

 

 

Perfect Timing....just about to sing up for an Apartment in Korat....Nah.....all too Hard....

23 hours ago, laislica said:

I keep more than the 800k in a Thai bank and go for the retirement ext.

However, I have always spent less than half a year /year in Thailand.

Now at 77, the journey is getting to be a bore and the advantage of being in Thailand less and less.

Thus I'll spend less than 90 days in Thailand/year.

If they stop accepting my money in the bank method, it will give me the excuse to never visit Thailand again.

After all, I really only visit so my wife can see her family and friends.....

Get a Non-O Visa in your home country - the Multiple Entry variety, if offered.  You get 90-days stays per entry.  If they ask for financials (not required in most countries), it can be money shown in your passport-country account - so you don't have to put any at risk in an unstable country (which would do something like this on just 30-days notice to long-term retirees).

34 minutes ago, ocddave said:

Its sort of like governing by Prayut, except the Big Joke doesn't need an S44, he just pulls things out of his arse and calls it a new regulation.

Who tells him what to say?  Must be some ministry process? 

20 minutes ago, wgdanson said:

Some reasonably good news. Just did a £100 transfer from First Direct to my Bkk Bank Savings. Arrived four hours later at Bkk Banks TT rate and the statement said International Transfer. 

Will do the same via T'wise now.

 

 

 

4067 via First Direct, 3982 with T'wise.

T'wise will probably get better the more you send. First Direct is FREE, no charges at either end....yet!

 My understanding is that most (all) Thai banks charge an incoming transfer fee of 0.25% (minimum of 200, maximum of 500 baht).  Those are the charges for Bangkok Bank but most other Thai banks have similar if not exactly the same charges.  The problem may be that the banks don't tell you about it.  For example, there's no notation in my Bangkok Bank account that it happened, yet I get an SMS whenever I receive an international transfer into my account and there it mentions the exchange rate that was used and the incoming transfer fee.

 

Another way to tell if this is happening is to look at the incoming baht and try to match that up exactly with a TT (Telegraphic Transfer) rate on the bank's exchange rate page.  If the exchange rate that was actually used in your transaction is a little less favorable than you can find listed it may be that your bank's incoming transfer fee has been applied (200-500 baht) without you being specifically notified.

1 hour ago, balo said:

But they are Catholics , try to break up with a Filipino , not easy. And everyone wants to borrow money from you and never pay you back . 

It's a poor country , and the food sucks big time compared with Thailand.   And then the unstable weather, random power cuts, internet speed, overpriced services for foreigners. Security guards with guns everywhere.   

 

Thailand is just better in every department. Except for the visa situation. 

 

 

PI has one claim to fame Thailand doesn't, they have the fastest smart phone texters in the world.

https://www.philstar.com/lifestyle/business-life/2001/05/15/85823/philippine-text-messaging-phenomenon

19 minutes ago, madmen said:

Tens of thousands of thais will lose their jobs because poorer farangs can't raise 800k?

What a conceited outlook. 

On 1/31/2019 at 7:24 PM, MikeOKitches said:

Phenom Penh, Cambodia here I come. ????

Vietnam ... here I come.... this new guy is a nut case

 

What a conceited outlook. 

Care to elaborate?

1 hour ago, balo said:

But they are Catholics , try to break up with a Filipino , not easy. And everyone wants to borrow money from you and never pay you back . 

It's a poor country , and the food sucks big time compared with Thailand.   And then the unstable weather, random power cuts, internet speed, overpriced services for foreigners. Security guards with guns everywhere.   

 

Thailand is just better in every department. Except for the visa situation. 

 

 

Try breaking up with a thai.

Thais dont want to borrow money <deleted> thais are the worst in the world

Thailand isnt poor, it has the highest disparity in the world between rich and poor

Have you ever tried the food, irs delicious, maybe not so much choice as Thailand...but the thing is, western food is in an abundance at a fraction of the cost to here and far better quality.

No flooding in thailand then?

Ive never expereinced a power cut anytime was in PI yet have many times in Thailand.

Globe wife/internet is as good as 3bb or true

Thailand dosnt have a two tier pricing system for foreigners....its blatant here, never found that in PI

Thailand has more gun crime and related deaths than PI..the guards are just for show.

PI is just better in every department including the visa situation.

1 hour ago, dcnx said:

I transfer very large sums from Bangkok Bank to the USA and other countries without any problems. They just ask what it’s for and I write that down on the form. 

 

But like everything else here, your hassles depend on the branch and the person you talk to.

Perhaps the people who are concerned at the moment don't deal in the figures you do.

That is fine for you but, think about the guys who may be borderline on the finances required to stay here.

Someone stating I transfer very large sums every month with no problems doesn't really help them at this time.

If they decide they want to pull the plug and head home and don't feel comfortable carrying 20,000 sterling in their pocket and the bank tells them no wp no transfer.

How do you think they will feel?

All above not meant as a put down, just a statement meaning no harm.

On 1/31/2019 at 7:32 PM, mlkik said:

800.000 baht is not very much if you genuinely have retired and have committed to living in Thailand.

Maybe the people getting worried do not really have enough to retire here? I know many people worry about the exchange rates,if that is the case again maybe they are not financially ready for retirement here?

I am far from being well off but I have put enough money in a Thai account to ensure a worry free retirement.

Interest rates here are no worse than my home country. I am not wealthy enough to speculate and possibly lose on the investment of stocks and shares . Therefore I see no reason not to have savings here.

 

Thank you mlkik. I have always wondered why so many people living here balk at keeping money in Thai banks.

 

At the risk of high-jacking this thread:

 

Apparently they assume their home banking systems are more stable. Here's a news flash: nearly all Western countries and all EU countries have legislation in place that 'bails in' failing banks. They take all account funds above the amount "guaranteed" (what a joke in itself) by legislation to be protected. You will be issued stock in the failed bank. Such a deal! Remember Cypress a few years ago? 

 

Witness the American FDIC 'insured' amount of $250k. The FDIC website states that they have funds to repay only 1.2% of the funds they 'guarantee'. In other words, in a real banking crises, which is now inevitable, your 'guaranteed' money will never be paid and the deposit amount over that will be returned to you in the form of stock in the failed bank. So in fact, keeping money in a bank is truly a form of speculation. Even bankers all over the world are currently warning of a looming banking crisis. Read the news about the recent Davos conference. 

 

Wake up folks. No bank is safe. In fact, Thai banks may be some of the safest on the planet. Personally I keep some of my money where the rich folks do: Singapore. If anything happens there navies from all over the world will be sailing there to protect the banks. Likewise, foreign armies will be on the move to protect the island Country State. After all, Singapore is mostly just a bunch of big buildings holding OPM (other people's money). Nobody goes there for vacation, but they do have a zoo! 

 

If you are committed to living here then keep some real money here. It's just as safe as wherever you have it now if your home country is in the western world. Better yet, use some of that cash to buy gold jewelry in Thailand as a hedge against failing paper investments such as fiat currencies.

Unlike many western countries, you can buy and sell gold here without the burden of government tracking and taxation issues and there are literally thousands of places to make the transactions. 

 

Note that I'm addressing people who have retirement savings, not solely monthly pensions. I understand that pensioners have little choice. 

 

Pensioners everywhere are hanging by a thin thread, depending on their bankrupt governments to honor their promise. I personally took my American Social Security as soon as I reached full retirement age, and consider myself lucky every month the check hits the bank. 

 

Sorry. I couldn't help myself. This is something I've been wrestling with for a few years now.

Maybe I've motivated a few folks to think about alternatives to traditional banking and its new vulnerabilities. 

Thank you mlkik. I have always wondered why so many people living here balk at keeping money in Thai banks.

 

At the risk of high-jacking this thread:

 

Apparently they assume their home banking systems are more stable. Here's a news flash: nearly all Western countries and all EU countries have legislation in place that 'bails in' failing banks. They take all account funds above the amount "guaranteed" (what a joke in itself) by legislation to be protected. You will be issued stock in the failed bank. Such a deal! Remember Cypress a few years ago? 

 

Witness the American FDIC 'insured' amount of $250k. The FDIC website states that they have funds to repay only 1.2% of the funds they 'guarantee'. In other words, in a real banking crises, which is now inevitable, your 'guaranteed' money will never be paid and the deposit amount over that will be returned to you in the form of stock in the failed bank. So in fact, keeping money in a bank is truly a form of speculation. Even bankers all over the world are currently warning of a looming banking crisis. Read the news about the recent Davos conference. 

 

Wake up folks. No bank is safe. In fact, Thai banks may be some of the safest on the planet. Personally I keep some of my money where the rich folks do: Singapore. If anything happens there navies from all over the world will be sailing there to protect the banks. Likewise, foreign armies will be on the move to protect the island Country State. After all, Singapore is mostly just a bunch of big buildings holding OPM (other people's money). Nobody goes there for vacation, but they do have a zoo! 

 

If you are committed to living here then keep some real money here. It's just as safe as wherever you have it now if your home country is in the western world. Better yet, use some of that cash to buy gold jewelry in Thailand as a hedge against failing paper investments such as fiat currencies.

Unlike many western countries, you can buy and sell gold here without the burden of government tracking and taxation issues and there are literally thousands of places to make the transactions. 

 

Note that I'm addressing people who have retirement savings, not solely monthly pensions. I understand that pensioners have little choice. 

 

Pensioners everywhere are hanging by a thin thread, depending on their bankrupt governments to honor their promise. I personally took my American Social Security as soon as I reached full retirement age, and consider myself lucky every month the check hits the bank. 

 

Sorry. I couldn't help myself. This is something I've been wrestling with for a few years now.

Maybe I've motivated a few folks to think about alternatives to traditional banking and its new vulnerabilities. 

EU banks often have a £85k/100k euro protection, what's the protection for Thai banks?

Is there any?

8 minutes ago, scubascuba3 said:

EU banks often have a £85k/100k euro protection, what's the protection for Thai banks?

Is there any?

There was something about that on TV a while ago and it was a sort of sliding scale, down the way, on the reduction of guaranteed money over a period of a few years.

Maybe someone can find the thread.

From memory it didn't mean sunshine, straw hats and trumpets. ????

1 minute ago, overherebc said:

There was something about that on TV a while ago and it was a sort of sliding scale, down the way, on the reduction of guaranteed money over a period of a few years.

Maybe someone can find the thread.

The final insured figure will be 1 Million Baht down from 100 Million Baht some years ago.

 

They're decreasing their liabilities.

22 minutes ago, annabel said:

Vietnam ... here I come.... this new guy is a nut case

 

Look in the mirror when you cast aspersions towards people you don't
know. Your narcissism manifests itself in the the unwarranted drivel you cast
towards me. Seek help, and please do us all a favor and stay in your lane.
Thanks.

 

On 1/31/2019 at 7:49 PM, Spellforce said:

But why can't they do things easier for people doing their extention for more than 5 or 10 years ?

In my own country (France) we give the french ID card for thai people living more than 7 years.

Exactly why France won't be very French in 20 years. 

3 minutes ago, ukrules said:

The final insured figure will be 1 Million Baht down from 100 Million Baht some years ago.

 

They're decreasing their liabilities.

Wonder why?

It's the process... the ends do not justify the means.  One must seriously assess living in a country that requires one to show a passport to send a birthday card to your mother.

There was something about that on TV a while ago and it was a sort of sliding scale, down the way, on the reduction of guaranteed money over a period of a few years.

Maybe someone can find the thread.

From memory it didn't mean sunshine, straw hats and trumpets. [emoji38]

The £ amount recently increased. Also proof of it working back in 2007 when Icesave bank went bankrupt, UK government guaranteed deposits, i got £50k back after 3 months

 

It's looking more and more simple to apply for your retirement Visa in your own home country through the Thai Embassy as I do. Means going home at least once every 2 years (not so bad if you live in Perth Aus $400 return). All I have to do is show them that the surrender value of my pension fund is at least Bt800.000 in Aus, get a truthful police report ($75) get a doctor to give you a medical to say your not about to die with the Clapp (1/3rd stage) and a bit of paperwork and Aus $275 for a multi-entry visa and you get a O-A  M retirement visa in about 5 working days and arrive in Thailand for just on 2 years with everything in place ...that is of course if they haven't changed that way also...yet!  It is still on the Embassy web site as available.  And you don't have any money in a Thai bank.  My pension fund goes up about 10% each year (not so good lately) you might get 1% interest if you put the Bt800,000 in a Thai Bank.  If you are forfeiting Bt70,000 a year on interest then that is what you are paying for a retirement visa that is about Aus $3000 a year.