Retirement Visa Changes & Rate of Exchange leaves many expats in a quandary

[fredob43]

2 hours ago, FredGallaher said:

We don't call them birds eye chillies, but I wont say it.

In the UK they are known as Birds eye chilly. Don't ask why as I haven't a clue.

[fredob43]

2 hours ago, marcusarelus said:

You don't have $12k in your bank account back wherever you are from?  Not very much money now is it?  My money has done better in Thai banks since I moved it in 2005 and I've just left it there - the same as I would have in America.  The difference is my 800k cost me $16k when I put it in.  Now how much?  

Like you I put the 800th + in my Thai bank when it was 74= 1 UK pound.

I have done OK out of it interest wise even after tax here I still received 15th for my last 6 month pay out no fortunes but better than nothing.

 

I would get next to nothing in the UK. One of my accounts there gave me 5 pounds interest last year, and they even taxed that, so only received 3 pounds. Still trying to work out what to spend it on.

[Olmate]

1 hour ago, FredGallaher said:

Need to pack your bags if you don't want to follow the regulations. 

That’s certainly not correct, did you come up with that response all by yourself?

[Olmate]

1 hour ago, marcusarelus said:

I have money in both Thai and American banks.  I've done better with the Thai banks and spent more more from my Thai bank accounts.  I live in Thailand.  Where do you live?  

In the backwoods of Phuket, is that relevant somehow?My money is not however, it stays put in my home country where it’s safe n sound and not bequeathed to Thailand. I don,t need to just to get a years stay here.But thanks for your concern

[Mavideol]

17 hours ago, wilailuk said:

Then go back to your home country and stay there on welfare, or whatever..

 

 

you missed the point, he has been here for more than 20 years, 20 years man not 20 months that means he's a warrior to have survived in Thailand for that long. Did you ever consider he may not have any family or relatives in his home country or may not want to be on welfare, don't judge just read

[JimGant]

4 hours ago, Olmate said:

Money in bank in home country ,I wont give money to Thai bank I can never use. That,s giving it away no matter how you spin it.And my point was not no money!! Read the words!

Well, if you're lucky -- and of some means -- maybe you will never use it. Or, maybe it will pay your terminal Thai hospital bills -- after all, a surety bond for such events seems to be where Immigration is headed.

 

So, money in home country bank -- how is that any different from money in Thai bank -- if you croak before you spend it, same difference.

 

My situation is too much money in home country banks, all Pay on Death to my sister's kids. But I want to include my Thai relatives, and workers, in my Will. Nothing in US Will conveniently covers this -- and having my nephew "promise" he'll send X amount of his POD proceeds to Thailand is, well, stupid.

 

So, start loading up my Thai bank accounts with the amounts I want available for Thai relatives and others. And make sure my Thai Will covers accordingly. Worried about the Thai financial system? Hey, read all the reports. Thailand leads the pack in financial solvency -- in spite of what all the anti coup hippies speculate.

 

No, I need to begin shipping this money over soonest.

 

Quote

I wont give money to Thai bank I can never use.

If that means you live in home country, and don't plan to die in Thailand, forget all the above. And may I suggest -- quit posting in Thai forums.

[jacko45k]

19 hours ago, Leaver said:

And lose access to 400k of it, until you leave Thailand, or die.

Well I suppose the last 9 months you stay in Thailand you can set to spending it!

[ExpatNP]

On 7/7/2019 at 1:48 PM, yodsak said:

Just checked with my friend who renewed last week at Cambodia Inter soi boo-cow .

They now charge 13,900 for renewal of retirement visa. Up 1000.

 

Ticktok services are still the same at 15,000

Key visa 15,000. 

Khao Talo visa service , iv'e heard 15,000. not verified.  

 

 

All genuine stamps issued by thailands finest IO's.  Must attend for photo shoot. 

Why pay more?

 

FWIW, I just asked Tik Tok and it's 15,000 for the retirement visa plus 3800 for the multiple entry option, or plus 1,000 for the single entry option.

[Jumbo1968]

3 minutes ago, ExpatNP said:

FWIW, I just asked Tik Tok and it's 15,000 for the retirement visa plus 3800 for the multiple entry option, or plus 1,000 for the single entry option.

That’s what you would pay for M.E. And S.E. If you did yourself, most agents add 200 bant on.

[john west]

21 hours ago, bwpage3 said:

You are making a huge assumption Thailand won't go further downhill in the next few years. 

 

I don't see this coalition gov't lasting long, all hell will break loose and who knows that the future holds?

and the uk has not gone downhill. It has for decades upon decades

[Olmate]

2 hours ago, JimGant said:

Well, if you're lucky -- and of some means -- maybe you will never use it. Or, maybe it will pay your terminal Thai hospital bills -- after all, a surety bond for such events seems to be where Immigration is headed.

 

So, money in home country bank -- how is that any different from money in Thai bank -- if you croak before you spend it, same difference.

 

My situation is too much money in home country banks, all Pay on Death to my sister's kids. But I want to include my Thai relatives, and workers, in my Will. Nothing in US Will conveniently covers this -- and having my nephew "promise" he'll send X amount of his POD proceeds to Thailand is, well, stupid.

 

So, start loading up my Thai bank accounts with the amounts I want available for Thai relatives and others. And make sure my Thai Will covers accordingly. Worried about the Thai financial system? Hey, read all the reports. Thailand leads the pack in financial solvency -- in spite of what all the anti coup hippies speculate.

 

No, I need to begin shipping this money over soonest.

 

If that means you live in home country, and don't plan to die in Thailand, forget all the above. And may I suggest -- quit posting in Thai forums.

You miss the point the,400k can,t be spent! Read threads if you want to respond, oh and I live here unlike so many experts on other people’s business!

[JimGant]

29 minutes ago, Olmate said:

You miss the point the,400k can,t be spent! Read threads if you want to respond, oh and I live here unlike so many experts on other people’s business!

Sorry you live hand to mouth. Fortunately for many of us living here, 400k -- and much more -- can be tucked away indefinitely. The efficacy of that for estate planning for Thai beneficiaries has been explained. But, I guess explaining to a pauper is like urinating into the wind.

[Jumbo1968]

3 minutes ago, JimGant said:

Sorry you live hand to mouth. Fortunately for many of us living here, 400k -- and much more -- can be tucked away indefinitely. The efficacy of that for estate planning for Thai beneficiaries has been explained. But, I guess explaining to a pauper is like urinating into the wind.

Just because some one doesn’t have 400k Baht in a Thai Bank for ever doesn’t mean he is a pauper like me he doesn’t want 400k in a Bank Account he can’t access for ever. I like to be in control of what I have earned over the years not supporting a Thai Bank.

 

He could have been using the monthly income letter method but now can’t and doesn’t want to transfer any funds because of the very poor exchange rate.

TBH your comment is very offensive and should be removed !

[Olmate]

15 minutes ago, JimGant said:

Sorry you live hand to mouth. Fortunately for many of us living here, 400k -- and much more -- can be tucked away indefinitely. The efficacy of that for estate planning for Thai beneficiaries has been explained. But, I guess explaining to a pauper is like urinating into the wind.

Rather than the wind , I suggest your using your own pocket, not uncommon for nasty old gents I,m told. Can well invisage the beneficiaries you speak of waiting with baited breath! Struggle on!

[rott]

On 7/7/2019 at 6:04 AM, bandito said:

Not for Baht 12500!

For that amount the "agent" is stamping your passport with a fake visa.

The rate is Baht 20000 + 5000 for the agent= Baht 25000- for the real thing.

You do not know what you are talking about Bandito. The agent in Pattaya that I know who charges 12,500 also sends people to Jomtien for a photo, that would not happen for a fake stamp. So you know (or have been told about) one agent who charges 25,000 and to you that is it. You cannot be told any different. Carry on.

[Pormax]

On ‎7‎/‎6‎/‎2019 at 12:45 PM, Mitkof Island said:

AGAIN nothing has really changed. Its mostly made up drama over a lot of nothing. Put 800,000 in a Thai bank account and leave it there. End of problems.

Are you sure about this. The new Police Order says nothing about money in the bank as it did before. So as it is not there one would think this way of extending your visa has gone. The new 'rules' of showing monthly income into Thai bank is ridiculous. English banks will not transfer monthly income to your Thai Bank and even if they did would not say if from a pension or say rent from property in the UK. Plus this would be quite costly with bank charges. It is hard enough trying to get any UK letter delivered to your home in Thailand. Letter from my Government pension (Proof of Life) not got delivered so my pension was stopped. The letter and a second one posted took 8 months and 5 months. So no chance of getting letters from my Pension companies and if I did one thinks the immigration personnel could not read them. I am hoping the 800,000B in the bank for 3 months still works, but has anybody done this since the New Year.

[rott]

On 7/7/2019 at 11:56 AM, bkk6060 said:

My experience is these 12,000 b claims for an extension which include "everything" are false.  The people I know who use them claim the rates have gone up recently and are being quoted in the 20's in Pattaya and 30's in Bangkok.

Of course, the low ball claimers can say what they want as they will never post the name, locations, and contacts of alleged agencies.

And please tell us exactly what is your experience.?? News to me that the rates have gone up, but I will be in Pattaya at the weekend so I will check.

 

To be fair they do not include an O visa or re-entry permit. 

Edited July 8, 2019 by rott
Addition.

[lkv]

1 hour ago, Jumbo1968 said:

I like to be in control of what I have earned over the years not supporting a Thai Bank.

Go explain it to Thai immigration, that the exchange rate is bad, and you like to be in control of your money, make a note of what they say and please come back here and report.

 

I'm dying to find out.

[Jumbo1968]

11 minutes ago, lkv said:

Go explain it to Thai immigration, that the exchange rate is bad, and you like to be in control of your money, make a note of what they say and please come back here and report.

 

I'm dying to find out.

No need too, I will have my Extension of Stay and still be in control of my money, 

[marcusarelus]

6 hours ago, Olmate said:

In the backwoods of Phuket, is that relevant somehow?My money is not however, it stays put in my home country where it’s safe n sound and not bequeathed to Thailand. I don,t need to just to get a years stay here.But thanks for your concern

I heard the same thing when I put 16k in the bank for my first 800k extension.  Everybody told me how stupid I was to put money in a Thai bank.  I've taken the interest out every year and kept that 800k in the bank.  Worked out quite well.  My money is safe and sound and appreciated from 16k to 26k.  Not one of those guys has come back to tell me what a wise move I made.  I have a will and my money is not bequeathed to Thailand.  Phuket is not a backwoods it's an overpriced tourist trap.  

[marcusarelus]

28 minutes ago, Pormax said:

Are you sure about this. The new Police Order says nothing about money in the bank as it did before. So as it is not there one would think this way of extending your visa has gone. The new 'rules' of showing monthly income into Thai bank is ridiculous. English banks will not transfer monthly income to your Thai Bank and even if they did would not say if from a pension or say rent from property in the UK. Plus this would be quite costly with bank charges. It is hard enough trying to get any UK letter delivered to your home in Thailand. Letter from my Government pension (Proof of Life) not got delivered so my pension was stopped. The letter and a second one posted took 8 months and 5 months. So no chance of getting letters from my Pension companies and if I did one thinks the immigration personnel could not read them. I am hoping the 800,000B in the bank for 3 months still works, but has anybody done this since the New Year.

Did 800,000 last week took 12 minutes - stamped for one year.  

[ubonjoe]

43 minutes ago, Pormax said:

Are you sure about this. The new Police Order says nothing about money in the bank as it did before. So as it is not there one would think this way of extending your visa has gone.

There are two police orders that amended the existing police orders.

There is one that was issued in December for the new income option and another one for the 800k baht in the bank option that was issued in January and went into effect on March first.

Download this one for the money in the bank option. Police Order 35/2562 Changing 327/2557 Clause 2.22 

 

[rott]

2 hours ago, JimGant said:

Sorry you live hand to mouth. Fortunately for many of us living here, 400k -- and much more -- can be tucked away indefinitely. The efficacy of that for estate planning for Thai beneficiaries has been explained. But, I guess explaining to a pauper is like urinating into the wind.

That is a very sneering, patronising and offensive post. Says a lot more about you than the person you thought you were putting down.

[Olmate]

39 minutes ago, marcusarelus said:

I heard the same thing when I put 16k in the bank for my first 800k extension.  Everybody told me how stupid I was to put money in a Thai bank.  I've taken the interest out every year and kept that 800k in the bank.  Worked out quite well.  My money is safe and sound and appreciated from 16k to 26k.  Not one of those guys has come back to tell me what a wise move I made.  I have a will and my money is not bequeathed to Thailand.  Phuket is not a backwoods it's an overpriced tourist trap.  

But Phuket is in Thailand and I,m not a tourist.I also walk to my local IO to do my own 90day .And finally I never had the chance to move my money here years ago, would you do it now?Of course you would.Last word is yours, please keep up the standard and make it about you.

[Fairynuff]

On 7/7/2019 at 7:20 PM, wilailuk said:

Then go back to your home country and stay there on welfare, or whatever..

 

 

Nasty

[Jumbo1968]

57 minutes ago, marcusarelus said:

Did 800,000 last week took 12 minutes - stamped for one year.  

I am waiting for a few OPs to say they waited zero minutes and had no money in the bank and have genuine Extension of Stay stamp.

[marcusarelus]

16 minutes ago, Olmate said:

But Phuket is in Thailand and I,m not a tourist.I also walk to my local IO to do my own 90day .And finally I never had the chance to move my money here years ago, would you do it now?Of course you would.Last word is yours, please keep up the standard and make it about you.

I would not stay in Thailand if I came today.  I'd take three looks around and run away.  When I came here I had it narrowed down to 3 choices and I would take number 2 or 3.  

[Fairynuff]

11 hours ago, marcusarelus said:

Why would you or I give it away?  I have my money in a Thai bank and draw out the interest every year - that's not giving it away.  Same as I have always done in America.  

 

I get your point no money - no money in bank.  But for those of us who save in banks no difference.

And all that money sitting in a bank here earns just about enough to buy som tam a couple of times a year

[Fairynuff]

3 hours ago, JimGant said:

Sorry you live hand to mouth. Fortunately for many of us living here, 400k -- and much more -- can be tucked away indefinitely. The efficacy of that for estate planning for Thai beneficiaries has been explained. But, I guess explaining to a pauper is like urinating into the wind.

Mods could this be moved to the gloaters forum?

[Pormax]

1 hour ago, ubonjoe said:

There are two police orders that amended the existing police orders.

There is one that was issued in December for the new income option and another one for the 800k baht in the bank option that was issued in January and went into effect on March first.

Download this one for the money in the bank option. Police Order 35/2562 Changing 327/2557 Clause 2.22 

 

Thank you Ubonjoe for a helpful response. Cleared things up quite nicely so can breath easier. A pity that this forum is hijacked with so many just being sarcastic or having a go at each other, that is why I hardly use the forum now.