The beauty of using an agent.

[Yellowtail]

13 hours ago, Mike Teavee said:

Your argument assumes that the 800K is the only 800K Investment that somebody has where as the reality is that it's a rounding error (<0.05%) of other's retirement funds.

 

End of the day I choose to keep at least 2 years annual spends in cash, in Thailand & that more than meets the 800K that immigration ask for, the fact I pay 8K (+4K for a multi re-entry permit) for an agent to make my life easier is just that... it makes my life easier. 

 

Have a Bualuang Key fob going spare if you fancy it, sorry I gave the car parking pass to a mate of mine as I don't have a car (wait, I don't have a car so I must be very poor.. yeah... Pathetic!). 

Wow, your retirement funds are more than THB1,600,000,000.00 (~US$46,934,584.92)? 

 

[bradiston]

17 minutes ago, Yellowtail said:

Yeah, to beat inflation I put all my money into houses and lots. Whore houses and lots of booze! 

 

Anyone that sees 800K as life changing money should probably use an agent. 

Once again, my objection is to the obvious loss making enterprise that dumping 800k THB into a Thai bank for 12 months represents. The bank however will profit handsomely.

[Mike Teavee]

2 hours ago, Yellowtail said:

Wow, your retirement funds are more than THB1,600,000,000.00 (~US$46,934,584.92)? 

 

A for Maths but an F for reading comprehension as I posted...

"Your argument assumes that the 800K is the only 800K Investment that somebody has where as the reality is that it's a rounding error (<0.05%) of other's retirement funds."

 

 

Other's = not me... 

 

Joking aside I still maintain that the 800K is just a part of most people's pension pots & people who claim to have it invested somewhere that yields 5%+ are either lying or have much bigger balls than me, I like to keep 2 years spends (> 4Million thb, hence Bangkok Bank keep sending me stuff) at hand despite the fact that it only pays 0.7% in interest. 

 

 

Hey, better than it being in the market at the moment (still nursing a bloody nose from last week's shenanigans). 

[Yellowtail]

3 minutes ago, Mike Teavee said:

A for Maths but an F for reading comprehension as I posted...

"Your argument assumes that the 800K is the only 800K Investment that somebody has where as the reality is that it's a rounding error (<0.05%) of other's retirement funds."

 

 

Other's = not me... 

 

Joking aside I still maintain that the 800K is just a part of most people's pension pots & people who claim to have it invested somewhere that yields 5%+ are either lying or have much bigger balls than me, I like to keep 2 years spends (> 4Million thb, hence Bangkok Bank keep sending me stuff) at hand despite the fact that it only pays 0.7% in interest. 

 

 

Hey, better than it being in the market at the moment (still nursing a bloody nose from last week's shenanigans). 

My bank accounts are ALL doing much better than my other stuff over the last two years... 

 

 

[Mike Teavee]

1 minute ago, Yellowtail said:

My bank accounts are ALL doing much better than my other stuff over the last two years... 

 

 

I hear that, if I had a Time Machine I would go back, cash everything in & stick it under the mattress ????

[ThailandRyan]

47 minutes ago, Mike Teavee said:

I hear that, if I had a Time Machine I would go back, cash everything in & stick it under the mattress ????

Yep the bedbugs would give you loads of interest.......

 

Yet, this just rolled in from my HY Savings account, one of 3 in the US

 

Dear .....,

We want to let you know that as of March 17, 2023 the Annual Percentage Yield (APY) on your High Yield Savings Account has increased to 4.65%.1 This variable rate is subject to change over time based on economic and competitive factors. You should know that this rate is significantly more than the national average2, so you'll continue to get more out of your savings with your xxxxxxxx Savings High Yield Savings Account.   I call that a pretty good amount of interest on the 30K in that account which is the repatriated conversion of USD from THB. after scuttling the Fixed Deposit account I held for years here for my O-A Retirement extension.

Edited March 20, 2023 by ThailandRyan

[Yellowtail]

1 hour ago, ThailandRyan said:

Yep the bedbugs would give you loads of interest.......

 

Yet, this just rolled in from my HY Savings account, one of 3 in the US

 

Dear .....,

We want to let you know that as of March 17, 2023 the Annual Percentage Yield (APY) on your High Yield Savings Account has increased to 4.65%.1 This variable rate is subject to change over time based on economic and competitive factors. You should know that this rate is significantly more than the national average2, so you'll continue to get more out of your savings with your xxxxxxxx Savings High Yield Savings Account.   I call that a pretty good amount of interest on the 30K in that account which is the repatriated conversion of USD from THB. after scuttling the Fixed Deposit account I held for years here for my O-A Retirement extension.

Wow, where you getting that? I'm getting less than 4%

[Nemises]

On 3/17/2023 at 7:12 PM, JeffersLos said:

How good is that? ????

 

And people actually go to an immigration office? ????????????

You forgot to mention the 800,000 baht these people have sitting in some Thai bank doing SFA. 
I invested the 800k into my home country’s (blue chip) stock market 10 years ago and it’s now worth 2M baht. 
Feel sorry for those people not only going to an immigration office but also not getting a decent return on their 800k. Sad really. ????????????
 

 

[jerrymahoney]

So 6 pages of how to use an agent to avoid putting 800K baht into a bank and no mention (?) when using the 65K FTT monthly deposit avoids both the 800k baht in the bank and the agent.

[ThailandRyan]

1 hour ago, Yellowtail said:

Wow, where you getting that? I'm getting less than 4%

In the US....

Look up Western Alliance Bank.  But then American express also has a Savings account program through its Banking arm that has a high yield Savings account as well currently paying 3.75% but also slated to increase as the Fed adjusts rates upward.

 

Here's another one at almost 5%

https://www.ufbdirect.com/savingsaccount?utm_campaign=02714_ufb_savings_ddue_rakuten_0223&utm_medium=affiliate&utm_source=rakuten&utm_content=8&utm_term=The+Annuity+Expert&siteID=G1Zs4Rh9oI0-6zJstRcidk3H3ccka8_4VQ&ranMID=44016&ranEAID=G1Zs4Rh9oI0&ranSiteID=G1Zs4Rh9oI0-6zJstRcidk3H3ccka8_4VQ

Edited March 20, 2023 by ThailandRyan

[ThailandRyan]

22 minutes ago, jerrymahoney said:

So 6 pages of how to use an agent to avoid putting 800K baht into a bank and no mention (?) when using the 65K FTT monthly deposit avoids both the 800k baht in the bank and the agent.

Yet many folks don't have the 65k a month ergo why they put the 800k in a bank here. Plus all it takes is 1 month of the account transfer missing the date by 1 day for the month and they are hosed. Many OPs regarding this in the past.

Edited March 20, 2023 by ThailandRyan

[bradiston]

18 minutes ago, jerrymahoney said:

So 6 pages of how to use an agent to avoid putting 800K baht into a bank and no mention (?) when using the 65K FTT monthly deposit avoids both the 800k baht in the bank and the agent.

Yes, it caught my eye I have to say. But I looked it up and found it seemed too good to be true. You can use your pensions payment and top that up to 65k THB with savings or whatever else you've got lying around.

 

Is it really that simple?

[jerrymahoney]

3 minutes ago, ThailandRyan said:

Yet many folks don't have tge 65k a month ergo why they put the 800k in a bank here. Plus all it takes is 1 month of the account transfer missing the date by 1 day for the month and they are hosed. Many OPs regarding this in the past.

Many folks don't have a lot of things. But if you can swing it, it can work pretty well --  almost like the monthly income that I swore to all those years on the US Embassy income letter.

[jerrymahoney]

2 minutes ago, bradiston said:

Yes, it caught my eye I have to say. But I looked it up and found it seemed too good to be true. You can use your pensions payment and top that up to 65k THB with savings or whatever else you've got lying around.

 

Is it really that simple?

'Combination' is available on office by office basis. 

[bradiston]

2 minutes ago, jerrymahoney said:

'Combination' is available on office by office basis. 

Jomtien anyone?

[Lemsta69]

31 minutes ago, jerrymahoney said:

So 6 pages of how to use an agent to avoid putting 800K baht into a bank and no mention (?) when using the 65K FTT monthly deposit avoids both the 800k baht in the bank and the agent.

From what I can gather the OP isn't using an agent for the Full Monty he's using them to collect, review and submit the necessary documents. If he was paying them for the full service then the pdf docs he mentions would be totally unnecessary as all you need is two photos, bank book, passport and  money for the agent's fee.

 

The thread got derailed by the odious anti-agent brigade, as per usual.

Edited March 20, 2023 by Lemsta69

[TaoNow]

Lemsta69:

 

OP said the following in his/her first post:  And people actually go to an immigration office?

 

This suggests that OP is getting around the requirement of appearing in person at Immo to renew an annual extension of stay.

 

If you think that it is odious that people object to this corrupt practice, do you also think it is odious to complain about how corrupt Thailand is?

[Yellowtail]

11 minutes ago, TaoNow said:

Lemsta69:

 

OP said the following in his/her first post:  And people actually go to an immigration office?

 

This suggests that OP is getting around the requirement of appearing in person at Immo to renew an annual extension of stay.

 

If you think that it is odious that people object to this corrupt practice, do you also think it is odious to complain about how corrupt Thailand is?

Yes, everyone hates corruption until it's convenient for them. 

[Salerno]

50 minutes ago, Lemsta69 said:

The thread got derailed by the odious anti-agent brigade, as per usual.

Possibly more accurate to say "He baited the hook well and got many bites".

[jerrymahoney]

2 minutes ago, Salerno said:

Possibly more accurate to say "He baited the hook well and got many bites".

Well there are a lot of euphemisms for 'using an agent' but this is the first I've noted referring to it as 'beauty'.

[Lemsta69]

1 hour ago, TaoNow said:

do you also think it is odious to complain about how corrupt Thailand is?

of course I do. anyone living here that complains about corruption is a hypocrite. Thailand is corrupt from the inside out so one's very presence in the country is tacit approval of said corruption. 

 

apart from that, there's not a goddamn thing you can do about it so all this griping about dudes who "abuse" the system is just hot air.

[Lemsta69]

1 hour ago, Salerno said:

Possibly more accurate to say "He baited the hook well and got many bites".

Yeah he got a good haul, the povvo DIYers and the pro-800kers.

[Lemsta69]

1 hour ago, jerrymahoney said:

Well there are a lot of euphemisms for 'using an agent' but this is the first I've noted referring to it as 'beauty'.

Ah but it is a thing of beauty. I re-upped for one year in Patts two weeks ago and all I had to do was go to the agent's office on Soi Post, then to the bank and then to Hooters. Too easy.

Edited March 20, 2023 by Lemsta69

[Yellowtail]

3 minutes ago, Lemsta69 said:

Ah but it is a thing of beauty. I re-upped for one year in Patts two weeks ago and all I had to do was go to the agent's office on Soi Post, then to the bank and then to Hooters. Too easy.

Hooters to get the wife to sign? 

[Lemsta69]

2 minutes ago, Yellowtail said:

Hooters to get the wife to sign? 

I'm stubborly single but if I ever got married it wouldn't be to a Hooters girl, they're far too sophisticated for the likes of me ????

[proton]

2 hours ago, Lemsta69 said:

From what I can gather the OP isn't using an agent for the Full Monty he's using them to collect, review and submit the necessary documents. If he was paying them for the full service then the pdf docs he mentions would be totally unnecessary as all you need is two photos, bank book, passport and  money for the agent's fee.

 

The thread got derailed by the odious anti-agent brigade, as per usual.

Anti corruption, not anti agent. Discussing the involvement of agents in bribes and fraud is not derailing, thats how they earn most of their income.

[Yellowtail]

2 minutes ago, proton said:

Anti corruption, not anti agent. Discussing the involvement of agents in bribes and fraud is not derailing, thats how they earn most of their income.

Using agents to circumvent the law is not legal. Using an agent to do the legwork is not illegal. 

[scottiejohn]

3 minutes ago, proton said:

thats how they earn most of their income.

Not the legit ones who ONLY deal with paperwork assistance and not avoidance!

Just like the ones I have used for over 20 years! 

[scottiejohn]

2 minutes ago, Yellowtail said:

Using agents to circumvent the law is not legal. Using an agent to do the legwork is not illegal. 

+1

 

[scottiejohn]

26 minutes ago, Lemsta69 said:

anyone living here that complains about corruption is a hypocrite.

 Deleted!

Misunderstood the post! sorry

Edited March 20, 2023 by scottiejohn