I've heard about similar types of this problem and it still makes no sense to me.

 

If you deposit 400K baht into your Thai bank account (after it's converted into 400K baht) from whatever country you come from.

 

Then you never withdraw any baht from that 400K, how/why would the change in exchange rates matter?  The amount wouldn't go down or up based on exchange rates once it's deposited into your bank account.

 

Or am I just totally not understanding this question/scenario?

11 minutes ago, D3030 said:

I've heard about similar types of this problem and it still makes no sense to me.

 

If you deposit 400K baht into your Thai bank account (after it's converted into 400K baht) from whatever country you come from.

 

Then you never withdraw any baht from that 400K, how/why would the change in exchange rates matter?  The amount wouldn't go down or up based on exchange rates once it's deposited into your bank account.

 

Or am I just totally not understanding this question/scenario?

The only change could be if you had a Visa Debit card and they automatically deduct every year on it. Best to just keep 5 or 10k more to be safe. 

39 minutes ago, D3030 said:

Then you never withdraw any baht from that 400K, how/why would the change in exchange rates matter?  The amount wouldn't go down or up based on exchange rates once it's deposited into your bank account.

If you deposited that 400K in a 1 year fixed term account @ 1.5%, the interest would be 6,000BHT less 15% tax of 900BHT(reclaimable), total now 406,100BHT. Rollover, repeat, soon compounds and mounts up.

If it's going to sit in an account make it work for you.

5 hours ago, jacko45k said:

You had a valid Permission of Stay in your passport, it won't be revoked retroactively! How they will police you having the 400k minimum between months 3 to 6 is not clear yet. Best guess, only possible when you renew. 

What if immigration require the banks to report any account that falls below 400K?

I'm sorry.  There are some people on this thread who are asking about further information on my particular circumstances. However, it is now clear that immigration view long stay expats like me (and you) as the enemy.  And so in that sort of environment, posting here on Thai Visa is now, in my view, counter productive at best, and dangerous at worst. Immigration obviously monitor our posts looking for ways they can create the next hammer blow to our lives, families and well being. So I will not be posting any more of my information on this thread.  Again sorry to those members who asked.

...in the country that welcomes them as a retiree

 

Which country is that then? ????

1 hour ago, Khaeng Mak said:

What if immigration require the banks to report any account that falls below 400K?

An idea yes, whether they have that authority I do not know. 

We might as well give them our log-in details and passwords!

Edited February 1, 20197 yr by jacko45k

5 minutes ago, jacko45k said:

An idea yes, whether they have that authority I do not know. 

We might as well give them our log-in details and passwords!

The banks are already required to disclose the details of any offshore transfers so it is not a long bow to pull to suggest that they can require reporting of balances that fall below 400K on any account that they issue the certification letter for ( that you use when you make your extension renewal application).

8 hours ago, wpcoe said:

I'm not familiar with foreign currency accounts, but might consider using one with the new changes (*if* I choose to remain in Thailand).  Does your bank book show the balance in the foreign currency or in the baht equivalent?  If the former (shows balance in foreign currency) how would Immigrations know that the amount had dipped below the THB400k (or THB800k in the relevant months)?  Do they have a computer program or app that calculates balances on a daily basis for the past year based on exchange rates?

Bangkok Bank FCA shows both the amount you have in say GBP, the current exchange rate and the approximate equivalent in THB. But the money is still in GBP until you transfer to a THB account.

If you use that FCA for your extension, the IO wil calculate it on that day's rate, because that's what you would get if you drew it out there & then.

18 hours ago, Tanoshi said:

If you deposited that 400K in a 1 year fixed term account @ 1.5%, the interest would be 6,000BHT less 15% tax of 900BHT(reclaimable), total now 406,100BHT. Rollover, repeat, soon compounds and mounts up.

If it's going to sit in an account make it work for you.

That makes sense that a deposit goes up with interest.  But it sounded like the OP or this other post I read or misread implied the amount of 400K would drop based on exchange rates.

 

13 hours ago, D3030 said:

That makes sense that a deposit goes up with interest.  But it sounded like the OP or this other post I read or misread implied the amount of 400K would drop based on exchange rates.

 

Yes I am worried that that my currency will weaken against the baht.