Why Bother With The 800k Baht Method?

[quandow]

This is merely a muse, I'm not suggesting anything illegal.

I just finished with my 90 day reporting of my 800k baht having been in my bank account after renewing my extension of stay. The girl at the desk took a look at the paperwork, had me sign all of it, then threw it in a pile of others' similar documents. I'd bet my bottom dollar all these documents will land up in a pile, never to be looked at again.

NO receipt stapled in my passport, no stamp, no computer entry. It's as if it had never happened.

The question: If a person can go to an agent for ~12k baht and get the extension of stay done, thereby releasing 800k baht, why continue with the "money in the bank" method?

[Tayaout]

There is no good reason unless it makes you feel good. 

[Pib]

Don't know what immigration office you use but I use Chaeng Wattana and they always give me a receipt for the extension of stay (B1,900), always stamp my passport with the renewed extension of stay data, enter data into the computer during the application while also taking a digital picture of me that goes into their computer, etc.  I use the Bt800K method.

[Thailand]

2 minutes ago, Pib said:

Don't know what immigration office you use but I use Chaeng Wattana and they always give me a receipt for the extension of stay (B1,900), always stamp my passport with the renewed extension of stay data, enter data into the computer during the application while also taking a digital picture of me that goes into their computer, etc.  I use the Bt800K method.

He is referring to the report he had to make 90 days after his extension, probably Jomtien.

[giddyup]

That "pile of similar documents" may get entered on the computer later. I can't believe they would instigate that procedure without any proof that you complied.

[david555]

2 minutes ago, Pib said:

Don't know what immigration office you use but I use Chaeng Wattana and they always give me a receipt for the extension of stay (B1,900), always stamp my passport with the renewed extension of stay data, enter data into the computer during the application while also taking a digital picture of me that goes into their computer, etc.  I use the Bt800K method.

 I guess the comment of that original poster could be seen as a hidden marketing publicity for the use of agents …,

I am using the 800 k method and all got swift but controlled before upfront by the pre handling person before my documents are copied and filed and cross the counter where the officers handling further and next day can I collect my passport .

This at Chonburi Jomtien I.O's

 

About the 3 month's after control for the 800K..... well it is enough that they just take it at random control to pick yours to get nailed ….

[NCC1701A]

so i don't have to worry AT ALL about statements from the bank. 800k in Bangkok Bank fixed account and forget about it.

 

  

[david555]

12 minutes ago, giddyup said:

That "pile of similar documents" may get entered on the computer later. I can't believe they would instigate that procedure without any proof that you complied.

and they sure would not leave a possible fining fee income unused ….

[giddyup]

2 minutes ago, david555 said:

and they sure would not leave a possible fining fee income unused ….

When I renewed my extension a couple of months ago, the gave me the paperwork about reporting with a ban book update in 90 days, but never noticed if there was a penalty for non-compliance, but imagine there would have to be.

[EricTh]

I am really curious as to what happens if somebody don't go to immig. and let them have a look at the bankbook.

 

Since there're no records of the visit, can somebody argue that they have been there?

[ubonjoe]

2 minutes ago, EricTh said:

I am really curious as to what happens if somebody don't go to immig. and let them have a look at the bankbook.

Nothing since the 3 months check is not required in the police order.

That is why most offices are not asking for it. Some people have been told it will be checked when the apply for the next extension.

[david555]

12 minutes ago, giddyup said:

When I renewed my extension a couple of months ago, the gave me the paperwork about reporting with a ban book update in 90 days, but never noticed if there was a penalty for non-compliance, but imagine there would have to be.

here my anonymized copy ,I asked when travelling … if by any date of return I come in to 24 hours after arrival later if it is O.K. the answer of the ret.ext. desk lady was a ..smile and O.K. nod

 

[cnxnicho]

3 minutes ago, ubonjoe said:

Nothing since the 3 months check is not required in the police order.

That is why most offices are not asking for it. Some people have been told it will be checked when the apply for the next extension.

Renewed my retirement extension recently at Chiang Mai and was told that the bank book will be checked when applying for extension next year. Also to make sure 800,000 is the minimum for the next 3 months.

[USNret]

18 minutes ago, giddyup said:

When I renewed my extension a couple of months ago, the gave me the paperwork about reporting with a ban book update in 90 days, but never noticed if there was a penalty for non-compliance, but imagine there would have to be.

If nothing else, they will get you 12 months later when you come back for another extension. 

For the OP... you have to ask yourself, what's the worst that could happen if caught?  If the worst is you get kicked out of the Kingdom, maybe fined and/or banned for a while and you are ok with that, then have a whirl.  But if the worst is too painful for you, then it's probably best to follow the rules.

[Moonlover]

Had I just read the topic headline 'Why Bother With The 800k Baht Method?' and plowed straight in with my answer, it would go like this:

 

Yes indeed why bother with this method thus allowing the Imm Pol to dictate to me what I can and cannot do with my own money?

 

I appreciate that some folks may not have a choice in this, due lack of sufficient monthly income. For my own part though, I am now in a position to make that choice. And, although the 800K is the easiest option, I will continue with the marriage method.

 

Thus I can decide what to do with my money. 

 

 

[aqua4]

30 minutes ago, ubonjoe said:

Nothing since the 3 months check is not required in the police order.

That is why most offices are not asking for it. Some people have been told it will be checked when the apply for the next extension.

Thats funny. They just make up the laws as things go along. 

[giddyup]

9 minutes ago, Moonlover said:

Had I just read the topic headline 'Why Bother With The 800k Baht Method?' and plowed straight in with my answer, it would go like this:

 

Yes indeed why bother with this method thus allowing the Imm Pol to dictate to me what I can and cannot do with my own money?

 

I appreciate that some folks may not have a choice in this, due lack of sufficient monthly income. For my own part though, I am now in a position to make that choice. And, although the 800K is the easiest option, I will continue with the marriage method.

 

Thus I can decide what to do with my money. 

 

 

You still have to have 400K.

[Tayaout]

1 minute ago, giddyup said:

You still have to have 400K.

But it can be spent fully after the extension is approved. 

[giddyup]

2 minutes ago, Tayaout said:

But it can be spent fully after the extension is approved. 

So can the 800K after the 90 days. Six of one half dozen of the other.

[Moonlover]

1 minute ago, giddyup said:

You still have to have 400K.

Yes, but only for 2 months (or maybe 3 if the IO wants to see it when I go back to get the extension stamp) Then It's mine to do with what I like.

 

Option 2 of course is that I continue with income method.

 

But I am definitely not locking up 800K for 5 months!

 

 

[Vacuum]

1 hour ago, quandow said:

why continue with the "money in the bank" method?

Peace of mind? No worries with monthly transfers that should be veryfied.

[CaptainNemo]

9 minutes ago, Moonlover said:

Had I just read the topic headline 'Why Bother With The 800k Baht Method?' and plowed straight in with my answer, it would go like this:

 

Yes indeed why bother with this method thus allowing the Imm Pol to dictate to me what I can and cannot do with my own money?

 

I appreciate that some folks may not have a choice in this, due lack of sufficient monthly income. For my own part though, I am now in a position to make that choice. And, although the 800K is the easiest option, I will continue with the marriage method.

 

Thus I can decide what to do with my money. 

 

 

I'm beginning to feel that Cambodia is a lot more appealing (cheaper and easier, and offering a similar life) than doing all this. Presumably transferring arbitrary lumps x00,000 baht back out of Thailand is not as easy as transferring it in, and subject to all kinds of deductions. 

[giddyup]

2 minutes ago, Moonlover said:

Yes, but only for 2 months (or maybe 3 if the IO wants to see it when I go back to get the extension stamp) Then It's mine to do with what I like.

 

Option 2 of course is that I continue with income method.

 

But I am definitely not locking up 800K for 5 months!

 

 

Doesn't worry me. Interest rates are so p*ss poor these days the loss is minimal, I'll die with money in the bank so who cares? Not the 800K, that's willed.

[Moonlover]

5 minutes ago, Tayaout said:

6 minutes ago, giddyup said:

You still have to have 400K.

 

5 minutes ago, Tayaout said:

But it can be spent fully after the extension is approved. 

 

4 minutes ago, giddyup said:

So can the 800K after the 90 days. Six of one half dozen of the other.

No it cannot. There has to be a residual of 400k even after post seasoning.

 

It's a draconian requirement.

 

 

[giddyup]

2 minutes ago, CaptainNemo said:

I'm beginning to feel that Cambodia is a lot more appealing (cheaper and easier, and offering a similar life) than doing all this. Presumably transferring arbitrary lumps x00,000 baht back out of Thailand is not as easy as transferring it in, and subject to all kinds of deductions. 

Have a read of some of the comparisons between Cambodia and Thailand, chalk and cheese.

[giddyup]

1 minute ago, Moonlover said:

 

 

No it cannot. There has to be a residual of 400k even after post seasoning.

 

It's a draconian requirement.

 

 

I stand corrected, but it's irrelevant to me anyway as the 800K hasn't been touched in 12 years.

[steve187]

1 hour ago, quandow said:

The question: If a person can go to an agent for ~12k baht and get the extension of stay done, thereby releasing 800k baht,

where do they only charge that to supply the money aswell

 

but what if they start to check on these type of extensions

[impulse]

20 minutes ago, Moonlover said:

No it cannot. There has to be a residual of 400k even after post seasoning.

 

It's a draconian requirement.

 

In return for allowing you to live in their country, they request certain concessions on your part.  One of them is to insure you won't be a burden on society here, along with a request that you forego about a dollar a day in interest on your $13,000 vs what you could make in an alternative investment. 

 

Seems pretty reasonable.  Post back if they start taxing your retirement income, or start taxing your assets, or make that 400,000 non-refundable...

 

[Moonlover]

4 minutes ago, impulse said:

 

In return for allowing you to live in their country, they request certain concessions on your part.  One of them is to insure you won't be a burden on society here, along with a request that you forego about a dollar a day in interest on your $13,000 vs what you could make in an alternative investment. 

 

Seems pretty reasonable.  Post back if they start taxing your retirement income, or start taxing your assets, or make that 400,000 non-refundable...

 

If this was the real reason that they impose this requirement, then why do they allow the income method which requires no capital sum at all?

 

You're making up an excuse to suit the facts, whereas most of us know the real reason.

 

It results from a rather clumsy attempt by Big Joke (remember him?) to curb the activities of the agents.

[USNret]

25 minutes ago, giddyup said:

I stand corrected, but it's irrelevant to me anyway as the 800K hasn't been touched in 12 years.

By my calculation, I could be earning around $100USD each month on that 800K if it were invested in the USA.  So that's over $14,000 in lost earnings in 12 years, and much more if you compound the earnings.