The bad exchange rates is in a way another visa tightening..

[DrJack54]

4 hours ago, RoadWarrior371 said:

I bet a lot of Brits wish they would have transferred their 800k over a few years ago.  Seems to be a UK specific issue, not a visa  issue.

Few years back AUD positive to USD.

Also then it waa 31baht to 1aud. Now 21baht to 1aud.

[onera1961]

1 hour ago, userabcd said:

Sometimes think in the late 90's (Asian crisis) that they doubled the money required on deposit to apply for a long stay visa extension in TH.

 

I may need to be corrected here, but think for extension of stay, marriage was 200000 and increased to 400000, retirement visa was 400000 increased to 800000 (perhaps partially due to the much better exchange rates in those days)

 

Wishful thinking, but maybe now they should consider rolling back the deposit amounts to what they were before.

After Asian crisis, Thailand needed foreign currency. Why they need foreign currency now? The have plenty pouring in now from tourists and FDI all over the World. Baht is condered one of the safest currency in the Asia now. The coffer is full and it is hurting Baht for export. Even after interest rate reduction (bad for for people who keep money in savings account), the Baht is not budging. Such is the strength of Bhat.

Longtime ago when Baht was +40/USD, I bought a condo in Bangkok, one in Hawaii, and one in Benidorm. I am selling my Hawaii condo and Benidorm apartment and bringing 7/8 mil to Thailand before Baht starts breaking 30USD barrier. Once it strengths to less than 30USD it is all the way to 25 within 2/3 years. Brace up for the shock of 21st  century

 

Edited August 10, 2019 by onera1961

[DrJack54]

3 minutes ago, jacko45k said:

As do I in my earliest/ first trips here. But I do recall everything seemed really cheap even in GBP terms. 

Currently I'm on koh Samet. Most places Chang 70-80baht. The gf was drinking Miguel lite until I realized its 120baht. Knocked that on the head quick smart.

Next Friday Saigon. Yippi 500ml Saigon green 23baht.

Thailand ain't cheap anymore esp for us bkk mugs.

[Enzian]

1 hour ago, Tayaout said:

Some users reported using a pound denominated deposit account in a Thai bank and it was accpeted by immigration. So basically you don't ever need to exchange to THB. 

A friend has used a FCD (Foreign Currency Deposit) account at Bangkok Bank, denominated in GBP, for over three years and accepted by Immigration. I just opened a FCD account at Krungsri Bank in USD to use for my next extension, planning on leaving in 30K or so to be on the safe side. Talked first to K Bank and Bangkok Bank. K Bank wants an opening deposit of 10,000 USD, in cash, banknotes! Bangkok Bank, if you don't have a work permit, wants a letter from Embassy, a pain in the ass, or a voucher from your US bank, another pain in the ass. Krungsri was satisfied with my passport, Yellow Book, and pink card (and my Thai girlfriend sitting there translating): opening deposit 500 USD in banknotes.

[moonseeker]

Having lived on several continents and a bunch of countries during my lifetime, I think TH retirement and other visa thresholds financially and buroratically are still very acceptable. O.c. need to compare countries in similar state of development. 

While a number of expats, who miscalculated the cost of retirement and the various risks, are now in financial trouble and some of them even have to leave for cheaper places, I feel there are many other reasons for people to leave and tourism,as we once knew to decline. 

I have several friends with tourism dependent businesses in BKK, they all had declines of min. 50% the last 2 to 4 years. 

Some have closed down, others struggle to pay the bills. Who was able to adjust to Chinese, Arabs and Indians are doing well, but then other factors come into play. 

There are great options for travel and living allover the world. Clean, exotic, welcoming. MS>

[kinyara]

I did my first ever re-report of my 800k balance this week 3 months after getting my annual extension and I didn't even need a ticket from the reception counter at Jomtien as there was no-one waiting to be served at the retirement visa section. Sign of the times maybe or just good timing.

 

In reality the seasoning of the required 800k after obtaining the visa had the effect of increasing the base sum by another 3 months expenditure by the back door rather than a headline grabbing increase to 900k-1m.

[david555]

4 minutes ago, kinyara said:

I did my first ever re-report of my 800k balance this week 3 months after getting my annual extension and I didn't even need a ticket from the reception counter at Jomtien as there was no-one waiting to be served at the retirement visa section. Sign of the times maybe or just good timing.

 

In reality the seasoning of the required 800k after obtaining the visa had the effect of increasing the base sum by another 3 months expenditure by the back door rather than a headline grabbing increase to 900k-1m.

In real reality they make block you "can not use" half of your 800K seeing over the whole year ...make the calculation it's 400 000 

Edited August 10, 2019 by david555

[griffon2011]

28 minutes ago, DrJack54 said:

Currently I'm on koh Samet. Most places Chang 70-80baht. The gf was drinking Miguel lite until I realized its 120baht. Knocked that on the head quick smart.

Next Friday Saigon. Yippi 500ml Saigon green 23baht.

Thailand ain't cheap anymore esp for us bkk mugs.

I was in Da Nang last week and can confirm the Saigon green for 23 baht.  Last night at one of the Hillary bars near Nana Plaza I bought a round of 2 bottles of Smirnoff Vodka mixed drinks and one small Singha beer for 780 baht.  ($24.63 US). You are right it is not cheap anymore or perhaps I was overcharged.  

[Laza 45]

...just because  you're paranoid doesn't mean they aren't after you..

[Henryford]

1 hour ago, smedly said:

no it isn't

 

against the Thai baht since 2016 % drop

 

USD - 14% 

EURO - 15%

GBP - 18%

Over the past year many currencies have fallen. The UK is nearly the worst but only just :-

                   %

Australia  - 14.3

Norway    - 13.0

UK           - 12.9

Sweden    - 11.8

China       - 10.5

India        - 10.1

Euro        -  8.6

[moe666]

4 hours ago, fforest1 said:

Wrong.....I guess you need to brush up on your Basic Mathematics..

I think you are directing the failing health of the UK toward the wrong people. I am sure if you did the research you will find the fall of the lb. to the baht is related to activity in your on country. The economy of Thailand has also improved since the days of 75 to the dollar anyone who expected the baht to stay this low for ever is lacking a few brain cells. Any one with a problem over the pound failing should talk to their new PM

[Longcut]

2 hours ago, mahjongguy said:

What connection do you mean?

The baht is free floating. It is not connected to any other currency.

[moe666]

1 hour ago, onera1961 said:

After Asian crisis, Thailand needed foreign currency. Why they need foreign currency now? The have plenty pouring in now from tourists and FDI all over the World. Baht is condered one of the safest currency in the Asia now. The coffer is full and it is hurting Baht for export. Even after interest rate reduction (bad for for people who keep money in savings account), the Baht is not budging. Such is the strength of Bhat.

Longtime ago when Baht was +40/USD, I bought a condo in Bangkok, one in Hawaii, and one in Benidorm. I am selling my Hawaii condo and Benidorm apartment and bringing 7/8 mil to Thailand before Baht starts breaking 30USD barrier. Once it strengths to less than 30USD it is all the way to 25 within 2/3 years. Brace up for the shock of 21st  century

 

It doesn;t help to have a President promoteing weaking of the dollar.

[Matzzon]

1 hour ago, lamyai3 said:

It's a valid point though, the baht is absurdly overvalued

Have you ever considered that it might not go so well for UK and US as well as EU at the moment. That the pound was greatly overvalued I hope everybody knows, due to that most of the worlds greatest finance crasches originayes from that country.

It might be that it goes well for the baht and if other currencies would maintain their value, they would in fact be overrated instead. I bet that kind of thought never crossed you mind, due to that we can only se the negative with Thailand ans all connected to that when something not makes us happy. In fact, the problem might originate from once own country instead. If that is not to much in the economic land of utopia for you. It´s always hard to see and admitt the problems that are closest to home.

[smedly]

20 minutes ago, Henryford said:

Over the past year many currencies have fallen. The UK is nearly the worst but only just :-

                   %

Australia  - 14.3

Norway    - 13.0

UK           - 12.9

Sweden    - 11.8

China       - 10.5

India        - 10.1

Euro        -  8.6

The major currencies fluctuate +- a tight range of say 5% normally unless there is an unusual event

 

Sterling right now is vulnerable to more severe manipulation/fluctuations because of Brexit uncertainty, it is giving speculators and huge hedge funds opportunities to drive it up or down - a dirty game of manipulation and feeding the moves with news stories as they go

 

The Thai BHAT is just being used like a door step - it is not strong enough to float on its own and yet it is floating, Thailand can do nothing about this by any normal fiscal means - the only way is to either print money or a revaluation - both could cause a sudden downward spiral, they failed to control it over a longer period and now it is out of control

[smedly]

32 minutes ago, moe666 said:

I think you are directing the failing health of the UK toward the wrong people. I am sure if you did the research you will find the fall of the lb. to the baht is related to activity in your on country. The economy of Thailand has also improved since the days of 75 to the dollar anyone who expected the baht to stay this low for ever is lacking a few brain cells. Any one with a problem over the pound failing should talk to their new PM

you clearly don't understand how to work out if a currency has gone up or down

 

compare just thai baht with one major currency tells you absolutely nothing - which one went up and which one down - not possible to determine, it is a little more complex

 

compare thai baht with the top 6 currencies over at least 3 years will provide a reasonable accurate trend of what's up and what's down

 

 

[Lemonltr]

6 hours ago, RichardColeman said:

I just know if i transfer over 400,000 baht from the uk for my marriage visa - the pound will suddenly boom and the baht drop through the floor ! 

God I hope so. We need you to send that 400k urgently. NOW!! 

[Bert Jones]

3 hours ago, Tayaout said:

Why put the exact amount if the price fluctuate? It's a little bit like those who send 65K baht and complain they got rejected because the bank charge 500 baht fees. People complain about the exchange rate. I am simply pointing out that you don't need to exchange your money. 

So just to be clear  - you are saying I can transfer from the UK a sum equivalent to 800000baht into a sterling account (Bangkok bank) and immigration will accept this as proof of income provided it has seasoned ?

[ubonjoe]

9 minutes ago, Bert Jones said:

So just to be clear  - you are saying I can transfer from the UK a sum equivalent to 800000baht into a sterling account (Bangkok bank) and immigration will accept this as proof of income provided it has seasoned ?

Yes you can but you have to understand that the bank will calculate the amount in bath on the day they write the letter for immigration. 

Having it in foreign currency account does help since it has to be shown in baht on the day you apply for the extension.

[david555]

16 minutes ago, Bert Jones said:

So just to be clear  - you are saying I can transfer from the UK a sum equivalent to 800000baht into a sterling account (Bangkok bank) and immigration will accept this as proof of income provided it has seasoned ?

as long the rate is keeping it 800 K baht value during the time of pre & after seasoning + the 400K seasoning  remaining months...  possible maybe , but how you go to anticipate on that ?

Edited August 10, 2019 by david555

[Bert Jones]

That's great to know Joe...I'll pop to bkk bank next week and try and open a sterling account - I already have a current/savings account so this should be straight forward.

[Bert Jones]

3 minutes ago, david555 said:

as long the rate is keeping it 800 K baht value during the time of pre & after seasoning + the 400K seasoning  remaining months...  possible maybe , but how you go to anticipate on that ?

I will simply transfer £30k...I'm hoping they pay a little interest on it...

[Tayaout]

9 minutes ago, david555 said:

as long the rate is keeping it 800 K baht value during the time of pre & after seasoning + the 400K seasoning  remaining months...  possible maybe , but how you go to anticipate on that ?

Then you send 850-900K and that should do it. 

[david555]

12 minutes ago, Bert Jones said:

I will simply transfer £30k...I'm hoping they pay a little interest on it...

Don't mind the interest just put your hope on the GBP don't go total low as you can not repair it , unless you have a time machine …!  

 

As for the application date it can help , but the whole year hoping it stays O.K. with the exchange rate ….? Remember the 7 month's 400K seasoning or the new application date they check if all was still in range (By God it don't know how they go handle that as no rapports yet as to early ?)

 

 

 

 

Edited August 10, 2019 by david555

[Max69xl]

5 hours ago, Matzzon said:

No, it´s not a direct visa issue, but it becomes an indirect issue. However, it´s all about planning with a buffer for unforseen circumstances. it´s not UK specific either, but they are probably the ones that suffers the most. Almost all currencies have been falling against the baht. US dollar has avoided most of that by beeing connected to the baht´s fluctations.

You can just take the swedish krona, norweigian krona and the danish krona as a few examples. Also the euro has benn sinking a lot from what it once was.

In 2004 when the euro was up in 50 baht then it was 16 000 euro and now it´s over 24 000 euro to come up to 800 000 baht.

The sweden krona is another example. Once it was about 5,4 baht per krona. Now it´s around 3 baht per krona. That means a difference from then to now with around 148 000 to compare with todays staggering almost 267 000 krona for make 800 000 baht.

 

But sure, the GBP has made the worst with around 60% loss from it´s highest recorded rate against the baht.

A lot of expats seems to think that Immigration in Thailand has something to do with the strong baht. Thailand is actually doing quite well economy wise. I do think they have to do something about the baht,and they will, but everything here is slow.

[Bert Jones]

I can always add to the balance. It's a real bummer doing this though...30k in a UK tracker fund could net me £1200 divi plus any capitol appreciation...but that's life I guess.

[david555]

2 minutes ago, Bert Jones said:

I can always add to the balance. It's a real bummer doing this though...30k in a UK tracker fund could net me £1200 divi plus any capitol appreciation...but that's life I guess.

adding to the balance can only help you if you do it BEFORE the rate make you not correct anymore …. 1 day under and it would not be correct anymore (if I.O. see it ) , hence I make the time machine joke ….

[Max69xl]

6 hours ago, fforest1 said:

See first post....

What has the weak pound to do with immigration requirements? Blame the brexit-people in the UK.

Should immigration change the requirements because of a very possible brexit? 

[TSF]

Fortunately for me I transferred AUD to my Thai bank account for the sole purpose of satisfying Thai Imm retirement ext requirements about a decade ago when the AUD was worth around 30THB. And I transferred another large sum about 6 years ago to buy a new car, also getting around 30THB to the AUD. I sure wouldn't like to be dealing in those large sums at today's rate.

[Myran]

This has got to be one of the most brain dead topics on here... Might as well call higher prices for gasoline "visa tightening".