1 year retirement visa is more complicated this year

[nigelforbes]

Getting a similar letter from your embassy is a workable alternative. Yet another alternative is to walk into a large branch and tell them you want to open an account, for what reason and that you intend to fund the account with 5 mill. can they help. They will fall over themselves and bend rules but you don't have to keep the money in the account, you can ship it back out later.

 

Last one.....the banks usually want you to have a residents account whereas a non-residents bank account is far easier to open and there are no restrictions on the transfer of funds in and out of the country, you can transfer as much as you want, when you want. Restrictions on a non-resident account is that it wont earn interest and you can't deposit THB into it, otherwise it's the same as the resident account.  Outwardly, it looks exactly the same, Immigration wouldn't know.

 

You might want to try asking what the bank requires for you to open a non-resident bank account.....I had one for many years.

[LaosLover]

I opened a savings acct at Bangkok Bank, Suthep Road branch, with just a TM 30 and a passport 2 months ago. My visa agent sent me there.

 

The Bangkok Bank across the street from me had sent me away. Apparently, there are soft touch branches and then others that are not.

[nigelforbes]

6 minutes ago, LaosLover said:

I opened a savings acct at Bangkok Bank, Suthep Road branch, with just a TM 30 and a passport 2 months ago. My visa agent sent me there.

 

The Bangkok Bank across the street from me had sent me away. Apparently, there are soft touch branches and then others that are not.

I'm shocked! ????

[Dan O]

8 hours ago, JimmyJ said:

In the USA,  citizens can get up to 5.03% APY on a standard savings account, federally insured up to 250k.

(Those rates can change at any time).

 

The highest interest in Thailand currently on a savings account is 1.5%.

 

 

What us bank is giving that interest rate on a standard savings account?  Thats higher than most CD rates 

[Xanthe]

10 hours ago, nigelforbes said:

I bank at Bangkok Bank and UOB and both require my passport before I can even update my bank book!

You can update in an update machine. And I always wonder why foreigners line up and clog the ATM machines to update their bank book. Who update their bank books? You can get up top date info in the Bank app. 

[JimmyJ]

6 minutes ago, Dan O said:

What us bank is giving that interest rate on a standard savings account?  Thats higher than most CD rates 

"Thats higher than most CD rates"

 

(As of 2 days ago at least) it is

higher than all CD rates.

 

https://primisbank.com/primis-savings-accounts/

 

https://primisbank.com/primis-premium/

[Orinoco]

29 minutes ago, LaosLover said:

I opened a savings acct at Bangkok Bank, Suthep Road branch, with just a TM 30 and a passport 2 months ago. My visa agent sent me there.

 

The Bangkok Bank across the street from me had sent me away. Apparently, there are soft touch branches and then others that are not.

Your agent fixed it with the bank before you went in.

That's why.

 

[cubism001]

LaosLover, can you tell me who your agent is? What set me off is that my agent didn't lift a finger; and they're very expensive. If I have to renew, they'll hit me with a additional 15,000 B. - which I refuse to do right now. Thanks!

[itsari]

16 hours ago, nglodnig said:

This seems to vary according to a) the bank (and branch) and b) the applicants personal situation.

 

On a Visa-exempt I went into a branch of Bangkok Bank in Chiang Mai with my (Thai) wife who has a bank account there (with that branch) already, one hour later I walked out with an ATM card and passbook for a savings account. 

I walked  out with a Bangkok Bank account my self without a wife in toe in Chiang Mai around 4 years back . I needed a Thai citizen to verify me . 

 

 

 

 

 

 

 

 

 

 

[jimn]

No its not. Walk into the agent in Pattaya with your Bangkok Bank book, 2 photos and 12,500 baht. Visit the assigned bank with the agent. Visit immigration outside to have photo taken. 2 days later you have a totally legal 1 year extension of stay. Easy.

[DrJack54]

5 hours ago, khunjeff said:

Most branches of Bangkok Bank have required that for years, but I have not encountered any other banks asking for it at all (Kasikorn, Krungsri, SCB, TTB).

When was last time that you assisted someone with opening bank account in Bangkok.

Rhetorical question. 

 

[LaosLover]

26 minutes ago, cubism001 said:

LaosLover, can you tell me who your agent is? What set me off is that my agent didn't lift a finger; and they're very expensive. If I have to renew, they'll hit me with a additional 15,000 B. - which I refuse to do right now. Thanks!

I think I'm not allowed to recco a specific agent here. But they're in Nimman, near the corner of a single digit soi off on Nimman Road. Google maps is your friend. Or just PM me.

 

I went to them for a 30 day re-up. They told me about the bank branch without charging me further. I don't think they called ahead on my behalf.

[Orinoco]

47 minutes ago, LaosLover said:

I went to them for a 30 day re-up. They told me about the bank branch without charging me further. I don't think they called ahead on my behalf.

Ok, That was good of them. 

[JimmyJ]

1 hour ago, LaosLover said:

I think I'm not allowed to recco a specific agent here. 

People recommend agents by their name and business name all the time.

[Dan O]

5 hours ago, JimmyJ said:

"Thats higher than most CD rates"

 

(As of 2 days ago at least) it is

higher than all CD rates.

 

https://primisbank.com/primis-savings-accounts/

 

https://primisbank.com/primis-premium/

Yeah that's a nice teaser rate from a regional bank. It wont last and other account rates for use will offset it.  They also don't have very good reveiws.  Either way nice rate but it hasn't got anything to do with the OP, nor does it help people  here. 

[cubism001]

Can I get a TM30 at immigration?  Thanks

[spidermike007]

The only thing that makes sense is that they tolerate us, but really don't want us here. 

 

Perhaps ex-pats should be given a bit more credit, in this formula? We do bring in alot of stable income.  Even the rural folks benefit. Alot of the nicer houses in the poorer farming areas were built with money from expats. Alot of trucks, cars and income is from expats. Countless business employing many. To say it is insignificant, is a blatant misunderstanding of Thai economics. Thousands of hotels, restaurants, countless airlines and many tour companies, also benefit. By comparison, an average ex-pat spends how much per month? I would say alot of us spend 50,000 to upwards of 100,000 baht a month. I know I do. No value in that? I know some live on less. However, since the average GDP of the nation is around $570, that means about 18,000 baht a month?

 

I think xenophobia is utterly rampant, in all segments of the government here, from the feds right on down to the local amphur. However, I do not think most Thai people are that way. I think most either like us, or are indifferent to us. Which I can handle.

 

I think ex-pats should be treated with the kind of respect and acknowledgement we deserve. We have decided to change our policies, and we now realize how much you guys bring to the table. An immigration officer will now come to your home to renew your visa, to show our appreciation, of your continued support. You will only be required to sign one form, and we will give you a five year, multiple entry visa. Free of charge. And we will include a 10,000 baht voucher, good for any hotel in the country, for one year. 
 
Princely treatment. Thank you so much for helping to rescue our economy and our people. We appreciate it, and aim to show it for a change! We are past the era of thugs like the big joke. And we apologize for all of his abuse. We realize we have been moving the country backwards. And Covid has given us all some time to reflect. We are going to start changing things, and attempt to move the nation forward, instead of backwards.

[nigelforbes]

5 minutes ago, spidermike007 said:

The only thing that makes sense is that they tolerate us, but really don't want us here. 

 

Perhaps ex-pats should be given a bit more credit, in this formula? We do bring in alot of stable income.  Even the rural folks benefit. Alot of the nicer houses in the poorer farming areas were built with money from expats. Alot of trucks, cars and income is from expats. Countless business employing many. To say it is insignificant, is a blatant misunderstanding of Thai economics. Thousands of hotels, restaurants, countless airlines and many tour companies, also benefit. By comparison, an average ex-pat spends how much per month? I would say alot of us spend 50,000 to upwards of 100,000 baht a month. I know I do. No value in that? I know some live on less. However, since the average GDP of the nation is around $570, that means about 18,000 baht a month?

 

I think xenophobia is utterly rampant, in all segments of the government here, from the feds right on down to the local amphur. However, I do not think most Thai people are that way. I think most either like us, or are indifferent to us. Which I can handle.

 

I think ex-pats should be treated with the kind of respect and acknowledgement we deserve. We have decided to change our policies, and we now realize how much you guys bring to the table. An immigration officer will now come to your home to renew your visa, to show our appreciation, of your continued support. You will only be required to sign one form, and we will give you a five year, multiple entry visa. Free of charge. And we will include a 10,000 baht voucher, good for any hotel in the country, for one year. 
 
Princely treatment. Thank you so much for helping to rescue our economy and our people. We appreciate it, and aim to show it for a change! We are past the era of thugs like the big joke. And we apologize for all of his abuse. We realize we have been moving the country backwards. And Covid has given us all some time to reflect. We are going to start changing things, and attempt to move the nation forward, instead of backwards.

The numbers don't support your argument Mike. Even with all financial factors considered, the fiscal impact of expats in Thailand, on the overall economy, is negligible. Where expats do have an impact is in support and redistribution of wealth to poorer, rural, low income families where their quality of life is often improved.

 

There are many different estimates, the one I like and tend to use for examples is that there is 150,000 expats in Thailand, working and retired. This is not to be confused with the total number of foreigners which is around 4 million, most of whom are citizens of neighbouring or other S Asian countries. Even if every one of them has an 800k Baht deposit in a Thai bank for visa purposes (which they don't, not by a long way), that's USD 3.6 bill., or about 0.7% of GDP (520 bill), in economics terms it's insignificant, even to the banks that are holding the money on deposit. Even if average expat spending is twice that amount every year, the total figure of 1.5% is still very small. House, cars and other capital purchases are one off or once in a decade events and don't change the outcome very much. Yes of course there are higher spending expats but it's the median that's important in this calculation.

 

You need to look back and understand why the amounts linked to expat visa's were first established, it was because the country desperately needed foreign currency. At one time our impact was substantial, today it has waned to almost insignificance, I'm surprised that nobody has done anything to change the amounts for many years.

 

The financial picture aside, the expat community is a wasted resource here which should be harnessed and employed to better effect, collectively we have so much knowledge and skills that could be used to better the country. But I suspect the cultural differences wouldn't easily allow that to happen,. most of us wouldn't know how to effectively work with Thai's and given the way they are bashed on these pages, not many would want to work with us I suspect!

 

[brianthainess]

23 hours ago, TimeMachine said:

I tried one branch. Teller asked for 7000 baht accident insurance. I emailed headquarters and they say it's not a requirement. Passport and chanot should do the trick as per their online requirement. I will try other branches. Does seem like the universal applies. Depend who you get and on what day.

This is an ongoing imo scam, by BKB you buy their insurance, no letter of residence required.

[nigelforbes]

2 minutes ago, brianthainess said:

This is an ongoing imo scam, by BKB you buy their insurance, no letter of residence required.

Which insurance? I opened an account with BBL in June and was only offered accident insurance that is linked to the debit card, the cost of which was very reasonable as I recall.

[Mike Teavee]

11 hours ago, Xanthe said:

You can update in an update machine. And I always wonder why foreigners line up and clog the ATM machines to update their bank book. Who update their bank books? You can get up top date info in the Bank app. 

The problem with not updating your bank book on a regular basis is you end up with consolidated entries which are not acceptable to Immigration when doing your extension so you need extra statements from your Bank.

 

Immigration want to see the end of day total on your account for everyday to ensure that you haven’t gone below the limits.

[brianthainess]

1 minute ago, nigelforbes said:

Which insurance? I opened an account with BBL in June and was only offered accident insurance that is linked to the debit card, the cost of which was very reasonable as I recall.

Yep that's the one, some of them try to tell you no insurance no bank account. 'Reasonable' or not it's not necessary.  

[piston broke]

Complicated ? - Just use an agent - simples ....

 

Renewed mine last week - here's what happened.....

 

8.20am, arrived at the bank just as they were opening ....  updated pass book and got letter confirming 800k in bank ....

 

8.45am arrived at agents just as they were opening - signed form, handed over passport, bank letter and 8,000b ( 1,900 immigration fee plus 6,100 agents's fee) - had photo taken   ...

 

next day at 4pm collected passport from agent ..... The fee includes the agent doing the 90 day reports and me not having to put a foot in the IO - best 6k i've ever spent) ...

 

 

 

 

 

[nigelforbes]

Just now, brianthainess said:

Yep that's the one, some of them try to tell you no insurance no bank account. 'Reasonable' or not it's not necessary.  

Thanks. I was offered a choice of something like four different ATM cards, each one a different price and each one having different insured values. Being a cheapskate I took the cheapest one which cost 300 baht and has no insurance. I suspect others could do the same thing plus that was the very last step in the process, long after the account was already opened.

[Hummin]

Just now, piston broke said:

Complicated ? - Just use an agent - simples ....

 

Renewed mine last week - here's what happened.....

 

8.20am, arrived at the bank just as they were opening ....  updated pass book and got letter confirming 800k in bank ....

 

8.45am arrived at agents just as they were opening - signed form, handed over passport, bank letter and 8,000b ( 1,900 immigration fee plus 6,100 agents's fee) - had photo taken   ...

 

next day at 4pm collected passport from agent ..... The fee includes the agent doing the 90 day reports and me not having to put a foot in the IO - best 6k i've ever spent) ...

 

 

 

 

 

Treads like this is perfect for maintaining the myth about the complex retirement visa procedure.

 

Start wondering if the feed of negativity comes from visa agencies, and those who already is in the agencies grip, back it up to feel better about themselves. ????

 

Most can do visa by themselves without an agent, for most it is just laziness.

[nigelforbes]

2 minutes ago, Hummin said:

Treads like this is perfect for maintaining the myth about the complex retirement visa procedure.

 

Start wondering if the feed of negativity comes from visa agencies, and those who already is in the agencies grip, back it up to feel better about themselves. ????

 

Most can do visa by themselves without an agent, for most it is just laziness.

I don't believe that. It is not a complex process and it can be done by individuals but many like me don't want to. I'm 73, I don't want to queue in Immi., I want to stay home or spend my time in other ways. When covid was rampant, using an agent made perfect sense for older people and it still does. Those of us who have been here for many years will remember the uncertainties of the visa visit....go home and fetch this, go fetch that and come back, make more copies of this, your bank letter is dated yesterday, it has to be dated today, start queuing in parking lot at 4 am for a queue number, explaining banking process to Immi. staff such as why a fixed deposit can't show a same withdrawal unless it's cancelled. This list of fun and games is a long one and come with bad memories. Phuket Immi. sent me back to Bangkok to HSBC to get a new bank letter because it was dated yesterday not today! Now all I have to do is pay my 5k and have my picture taken, it's a perfect fit for me and I can get on with my gardening.

[Orinoco]

1 hour ago, spidermike007 said:

The only thing that makes sense is that they tolerate us, but really don't want us here. 

So true. 

[Lemsta69]

On 2/3/2023 at 8:35 AM, DrJack54 said:

It's even harder in Bangkok where to obtain a residence certificate you also need to have made a 90 day report. 

I've lived in Bangkok for the past year but my non-O visa/extension was obtained via agent on Soi Post in Pattaya. 

 

I'm up for renewal on 30 March, planning on using the Pattaya agent again. If I do that, and subsequently go to CW and ask for a residence certificate, do you think they will issue one or get upset about where I got my extension from?

 

TM30 was done by condo office and I did my first-ever 90 day report via Bangkok-based agent. Subsequent TM47s have been done online.

 

Aussie, so Embassy no use for RC.

[DrJack54]

Just now, Lemsta69 said:

TM30 was done by condo office and I did my first-ever 90 day report via Bangkok-based agent. Subsequent TM47s have been done online.

As long as the TM47,s that you do online or wherever use Bangkok address then that's fine.

When you apply for your residence certificate apart from couple of basic photocopies of pp the main thing that they want is TM47 receipt.

You pay 200baht and it takes between 1-2 weeks. 

[Lemsta69]

1 minute ago, DrJack54 said:

As long as the TM47,s that you do online or wherever use Bangkok address then that's fine.

When you apply for your residence certificate apart from couple of basic photocopies of pp the main thing that they want is TM47 receipt.

You pay 200baht and it takes between 1-2 weeks. 

Thanks mate, that puts my mind at ease.