Bad day at CM Imm: Retirement extension

[moontang]

8 minutes ago, Pib said:

K-bank did charge your a receiving fee and it's below.  However, they charge the fee "before" posting to your acct and since it was charged before posting to your acct it does not appear on your ibanking/passbook/statement....gives the impression no fee was charged but indeed it was.  However if you go ask for a Credit Advice it will show the fee.

It is surprising how many pensioners are unaware of that fee.  Tired of explaining it to them..not in the bank book, so there is no fee...wrong.

[JerseytoBKK]

On 1/12/2020 at 8:28 PM, Max69xl said:

Chase won't transfer USD, they transfer baht using their own exchange rate, which is lower than the TT buy rate you would get if they actually transferred USD. I promise you that a $5,000 US transfer using TransferWise will give you more in your account even with TW's fee (no K-Bank fee). K-Bank is one of TW's partner banks in Thailand and when using the correct reason for the transfer "Funds for long term stay in Thailand" the transfer will show up as foreign. You'll also receive the money within 24 hours and the rate is guaranteed. 

Wrong. Chase does transfer USD. It's an option you choose when you set up the transfer. I did it at least 8 times in the last 2 years. 

 

Also, if you have at least 200K in your IRA/401K and transfer it to Chase JPM you get private client status which gives no fee international wire transfers and fees reimbursed for all ATM fees. Chase JPM joined the others and now offers fee free trading also.

[Pib]

Yeap...$40 when transferring USD which means you get the Thai bank TT Buying Rate used for incoming foreign transfers....OR, $5 for for transfers less than $5,000 using the Chase exchange rate which is surely several percent below the Thai bank exchange rate (i.e, a Chase indirect fee).

 

https://www.chase.com/content/dam/chase-ux/documents/personal/checking/ABSF-en.pdf

 

[LawrenceN]

I'm the OP of this thread. I started it last week. It has been resolved. Thanks to the people who advised me to apply for an extension based on Thai spouse. That's what I did, successfully, today

 

I also plan to top up my bank account beyond 800k baht some time before next September, so thanks to you who suggested that. That will allow me to get back to retirement extensions, which are much less hassle. I probably won't keep the 800k in down the road, because I can start depositing my Social Security through Bangkok Bank. I didn't mention SS before. It's a third source that will use the correct transfer format, and allow me to return to the income method in 2022.

 

I also found the discussion of Transferwise very helpful.

 

To you jokers talking about Mexico, go start your own thread. Whatever happened to admins removing off-topic posts?