On 4/16/2025 at 8:45 AM, KhunLA said:

Yes, endorse illegal activity and skirting the rules ... well done.   Now complain about how corrupt TH is.

 

And when the low life has an oops ...

 

... no prob ... 'go fund my stupidity'

It's a myth that people who do not have 800k baht in a Thai bank for their visa / extension are poor. 

 

I don't have 800k in a Thai bank, but could easily transfer it tomorrow.  I use an agent for my extension.  I do not complain about corruption here, as it works for me, and the Thai's, in this case. 

 

My reasons for this method are these. 

 

Firstly, the 800k baht is making me a lot more in interest in my home country, rather than a pittance in a Thai bank.  I see the 800k baht to a Thai bank as a forced donation to Thai banks by foreigners. 

 

Secondly, the cost of the agent is cheaper than the interest earned in my home country, so I am still ahead financially. 

 

Thirdly, Thailand is an unstable country.  Who knows what happens here in the future.  Bank accounts could get a "haircut" like they did in Cyprus.  Any government guarantee on deposits, you can bet foreigners will be at the back of the queue.

 

Forth, no need to queue and be messed around by an immigration officer for being one document or one photocopy short.  I'm most likely on the golf course on extension day.

 

Fifth, when I pass away, the 800k baht asset is easier for my beneficiaries to include in my estate than if it was moved to a Thai bank account.

 

I am a self funded retiree, and have health insurance here. 

 

Many argue their extension ONLY costs them 1,900 baht, and my extension, through an agent, cost considerably more.  However, they don't take into account the lost interest on their 800k in a Thai bank.  When the lost interest is taken into account, those doing their own extension and paying 1,900 baht, their extension has actually cost them more than if they kept their money in their home country and paid an agent. 

 

 

17 hours ago, KhunHeineken said:

their extension has actually cost them more than if they kept their money in their home country and paid an agent. 

Presuming their home country offers an investment or deposit vehicle that can, after taxes etc, cover the agent costs. There are also some issues lately getting extensions with the fraudulent bank/agent arrangement, although likely it will sort itself out. It has been around a long time. 

The 65+K per month method obviates all those constrained reasons for the "using an agent" euphemism.

9 minutes ago, jerrymahoney said:

The 65+K per month method obviates all those constrained reasons for the "using an agent" euphemism.

Well getting supporting paperwork requires a few extra steps and of course you are done up like a kipper for when they do get round to taxing expats!

10 minutes ago, jacko45k said:

Well getting supporting paperwork requires a few extra steps and of course you are done up like a kipper for when they do get round to taxing expats!

When as you say my social security and US-Thai DTA * will leave me OK. And what you say has "been around a long time" may someday not be around. "Plausible deniability" may not always work for unreported cash transfers.

 

* The "source of funds" letter I already get for the extension would be more than sufficient for qualifying US-Thai DTA.

1 hour ago, jacko45k said:

Presuming their home country offers an investment or deposit vehicle that can, after taxes etc, cover the agent costs. There are also some issues lately getting extensions with the fraudulent bank/agent arrangement, although likely it will sort itself out. It has been around a long time. 

 

Correct, my online investment platform in the UK offers a savings hub from numerous banks offering the most competitive savings rates. If I take the best 1 year product, the interest after tax and after you deduct the agents visa facilitation fee actually works out less than I get in interest from the 800k in my Thai bank. I also don't have to concern myself with the decline in exchange rates that has affected the likes of the UK or Australia. More importantly you don't need to concern yourself with any clampdown temporary or otherwise 

 

What kind of cheapskate wants to gamble with their retirement to save a few baht, which actually isn't even the case in the current interest rate environment.

On 7/19/2025 at 3:13 PM, jerrymahoney said:

The 65+K per month method obviates all those constrained reasons for the "using an agent" euphemism.

 

One would think, except Jomtien doesn't accept letters from an embassy or the combination of income plus savings. I went in for my first extension with the embassy letter and other paperwork only to be sent away.  To experience that level of corruption and being told in the same breath to transfer over 800k baht into a Thai bank account was a bridge too far for this neophyte, so off to an agent I went. 

 

The last agent I spoke to told me that they use the leeway in the rules to drive more people into the offices of agents.  I wonder if the new banking problems are a way of dealing with the corrupt Immigration Offices. 

 

I've got to say that my experience with agents has been excellent. 

1 hour ago, flaming dragon said:

One would think, except Jomtien doesn't accept letters from an embassy or the combination of income plus savings

Really! They used to. They sure are making things harder.

On 7/19/2025 at 10:05 PM, jacko45k said:

Presuming their home country offers an investment or deposit vehicle that can, after taxes etc, cover the agent costs.

Banks in Australia offering enough interest to easily cover the agent's fees. 

 

Here's a couple of comparison websites. 

 

https://www.money.com.au/banking/high-interest-savings-accounts

 

https://www.infochoice.com.au/savings-accounts

 

On 7/19/2025 at 10:05 PM, jacko45k said:

There are also some issues lately getting extensions with the fraudulent bank/agent arrangement, although likely it will sort itself out. It has been around a long time. 

I can only comment on my own experience, and that is, I've never had a problem. 

 

Some people suggest the day could come when they stop the use of agents, but they have been saying that for years.  Should that happen, no problem for me, I'm off to Vietnam. 

On 7/19/2025 at 11:29 PM, kinyara said:

What kind of cheapskate wants to gamble with their retirement to save a few baht, which actually isn't even the case in the current interest rate environment.

I have posted my motives before, and they have nothing to do with being a cheapskate. 

 

Firstly, I refuse to be forced to make a 800,000 baht donation to a Thai bank. 

 

Second, yes, Thai banks pay a pittance, so why would I?  I can get around 5% in a bank in my home country. 

 

Third, interest earned in my home country more than covers the cost of the agent. 

 

Forth, why deal with any Thai government officials if you don't have to?

 

Fifth, no gamble for me.  I like Vietnam also.

 

Sixth, Thailand is a 3rd World Country.  Why deposit money into a 3rd World Country that doesn't even offer a realistic pathway to Permanent Residency, let alone Citizenship?

 

Lastly, and something that weighed a little heavier on my mind than all of the above, I don't want to leave a mess for my kids.  I want them to have the 800,000 baht as part of my estate with no problems dealing with offshore assets. 

 

 

Where's the cheapskate in the above????

 

 

1 minute ago, KhunHeineken said:

Where's the cheapskate in the above

You!

On 7/22/2025 at 8:13 AM, jacko45k said:

Really! They used to. They sure are making things harder.

Thai Imm stopped accepting income letters back in 2018, from some embassies.  US embassy stopped issuing them 1 Jan 2019.

 

Do try to keep up. 

 

Actually saves me quite a bit of change, not travelling to an 'outreach' location, wasting a few hours and getting ripped off for $50 USD.

On 7/19/2025 at 6:18 AM, KhunHeineken said:

It's a myth that people who do not have 800k baht in a Thai bank for their visa / extension are poor. 

 

I don't have 800k in a Thai bank, but could easily transfer it tomorrow.  I use an agent for my extension.  I do not complain about corruption here, as it works for me, and the Thai's, in this case. 

 

My reasons for this method are these. 

 

Firstly, the 800k baht is making me a lot more in interest in my home country, rather than a pittance in a Thai bank.  I see the 800k baht to a Thai bank as a forced donation to Thai banks by foreigners. 

 

Secondly, the cost of the agent is cheaper than the interest earned in my home country, so I am still ahead financially. 

 

Thirdly, Thailand is an unstable country.  Who knows what happens here in the future.  Bank accounts could get a "haircut" like they did in Cyprus.  Any government guarantee on deposits, you can bet foreigners will be at the back of the queue.

 

Forth, no need to queue and be messed around by an immigration officer for being one document or one photocopy short.  I'm most likely on the golf course on extension day.

 

Fifth, when I pass away, the 800k baht asset is easier for my beneficiaries to include in my estate than if it was moved to a Thai bank account.

 

I am a self funded retiree, and have health insurance here. 

 

Many argue their extension ONLY costs them 1,900 baht, and my extension, through an agent, cost considerably more.  However, they don't take into account the lost interest on their 800k in a Thai bank.  When the lost interest is taken into account, those doing their own extension and paying 1,900 baht, their extension has actually cost them more than if they kept their money in their home country and paid an agent. 

 

 

For years there where no interest to get in the western banks, just the few last years, and think about if you placed 800k 10 years ago, how much weaker our currency have become compared to thai baht then add your visa agent service fees 😉

12 minutes ago, Hummin said:

For years there where no interest to get in the western banks, just the few last years, and think about if you placed 800k 10 years ago, how much weaker our currency have become compared to thai baht then add your visa agent service fees 😉

Amazing... your hindsight is 20/20.  Maybe you don't realize that sometimes the Western/Thailand exchange rate moves in favor of the Western currency?

10 hours ago, KhunLA said:

Do try to keep up. 

Of course  knew about the embassies stopping their letters, UK, USA, and Oz, that was donkeys years and years ago. (Due to immigration wanting the letters to really verify the income and pension, rather than simply confirming a signature or an affidavit). But some embassies continued and their countrymen were fortunate to have this easy way forward. Combination method went on as before, I never really heard of this being completely withdrawn. Never had to use it. 

I don't have to keep up, I put the 800k in a FD account a long time ago!

Kind of depends on your lifestyle, if you like to party and chase the Thai women and impress with a high-end condo, you're going to spend a lot of Baht. Good Luck.

15 hours ago, KhunHeineken said:

I have posted my motives before, and they have nothing to do with being a cheapskate. 

 

Firstly, I refuse to be forced to make a 800,000 baht donation to a Thai bank. 

 

Second, yes, Thai banks pay a pittance, so why would I?  I can get around 5% in a bank in my home country. 

 

Third, interest earned in my home country more than covers the cost of the agent. 

 

Forth, why deal with any Thai government officials if you don't have to?

 

Fifth, no gamble for me.  I like Vietnam also.

 

Sixth, Thailand is a 3rd World Country.  Why deposit money into a 3rd World Country that doesn't even offer a realistic pathway to Permanent Residency, let alone Citizenship?

 

Lastly, and something that weighed a little heavier on my mind than all of the above, I don't want to leave a mess for my kids.  I want them to have the 800,000 baht as part of my estate with no problems dealing with offshore assets. 

 

 

Where's the cheapskate in the above????

 

 

 

Okay maybe veering towards 50% paranoid, 25% cheapskate, 25% risk naive.

 

1) Not a donation, the account is in your name and the money is yours to take with you if you decide to.

 

2) The difference is peanuts after tax and agents fees. The equivalent of a good night out for many of us. You introduce unnecessary currency risk, 300,000 baht impact if I'd followed your approach.

 

3) Ditto 2) - peanuts

 

4) Paranoia, 30 minutes a year interaction. Always been polite to me.

 

5) No long-term visa option

 

6) More paranoia, can't recall any retail Thai bank going bust this century.

 

7)  Not at all complicated if you have a simple Thai will.  A friend's daughter handled it from overseas, came on a 2 week holiday when documents were ready for signing and the cash was back in her home country before she was.

 

I honestly don't care what you do, if you feel comfortable with your approach good for you.  

 

I personally feel more comfortable following the rules for the sake of saving a few thousand baht. Holding a relatively small amount of cash in the country I live in is sensible for emergencies rather than a burden, it's not a lot in the overall scheme of things. I'm not paranoid about the financial health of my Thai bank or in the least bit bothered with a 30 minute interaction with the Immigration processors every year.

19 hours ago, DezLez said:

You!

How so?

 

I guess the hammer just dropped and you have realized you have been ripping yourself off for years. 

18 hours ago, Hummin said:

For years there where no interest to get in the western banks, just the few last years, and think about if you placed 800k 10 years ago, how much weaker our currency have become compared to thai baht then add your visa agent service fees 😉

Managed funds were still making money, even after the GFC.

 

What good is the value of the Thai baht if you can't access the 800,000 baht????  It's a donation until you die. 

 

I can do what I please with the money, and it more than covers the agent's fees. 

 

I have no problem with people having 800,000 baht in a Thai bank and doing their own extension for 1,900 baht, but I just laugh when they suggest EVERYONE who pays an agent is too poor to be able to transfer 800,000 baht to a Thai bank. 

 

They truly believe their extension ONLY costs 1,900 baht, but it's actually costed them more than people like myself who use an agent.  Do you disagree with the math? 

15 minutes ago, KhunHeineken said:

Managed funds were still making money, even after the GFC.

 

What good is the value of the Thai baht if you can't access the 800,000 baht????  It's a donation until you die. 

 

I can do what I please with the money, and it more than covers the agent's fees. 

 

I have no problem with people having 800,000 baht in a Thai bank and doing their own extension for 1,900 baht, but I just laugh when they suggest EVERYONE who pays an agent is too poor to be able to transfer 800,000 baht to a Thai bank. 

 

They truly believe their extension ONLY costs 1,900 baht, but it's actually costed them more than people like myself who use an agent.  Do you disagree with the math? 

You got either to poor or to lazy. 

 

For me 800k is a safety asset if everything goes to hell, and get stuck in Thailand. Same as I got gold and silver coins, and other assets spread around. 

 

We all have our way, don't we? 

 

Nothing wrong with your way or my way, and it is what it is.

3 hours ago, kinyara said:

Okay maybe veering towards 50% paranoid, 25% cheapskate, 25% risk naive.

Wrong. 

 

Not paranoid, I made an informed decision to use agents, and I have given my reasons.  Not cheapskate, I could transfer 800,000 baht here tomorrow, but why would I?  Not risk naive, if Thailand stop the use of agents, which I can't see happening, but say they do, I will reassess my position, but I have no ties here and could leave for Vietnam tomorrow.  I'd probably do 6 months in Thailand and 6 months in Vietnam, which is something I considered when the news about taxing remittances broke. 

 

3 hours ago, kinyara said:

1) Not a donation, the account is in your name and the money is yours to take with you if you decide to.

Wrong.

 

If you want to do your own extension for 1,900 baht, you lose access to the full 800,000 baht.  Sure, you can withdraw it, but you have to replace it, so same same. 

 

It's a donation to a Thai bank until you die. 

 

3 hours ago, kinyara said:

2) The difference is peanuts after tax and agents fees. The equivalent of a good night out for many of us. You introduce unnecessary currency risk, 300,000 baht impact if I'd followed your approach.

It's not about the money.  It's about the list of reasons I posted why myself, and many of my friends, chose to use agents. 

 

3 hours ago, kinyara said:

3) Ditto 2) - peanuts

Ditto. 

 

As said, it's not about the amount of money.  I don't keep the 800,000 baht in my home country solely because it makes more money there.  Sure, it's one of the reasons, but not the sole reason. 

 

3 hours ago, kinyara said:

4) Paranoia, 30 minutes a year interaction. Always been polite to me.

No paranoia.  I don't even have to do the 30 minutes.  I'm probably on the golf course whilst my extension is being processed. 

 

3 hours ago, kinyara said:

5) No long-term visa option

Correct, however, 6 months Thailand and 6 months Vietnam is fine with me.  It was an option I considered when news of taxing remittances broke. 

 

3 hours ago, kinyara said:

6) More paranoia, can't recall any retail Thai bank going bust this century.

No paranoia.  Thai Airways went broke, just as one example. 

 

I've been saying for some time the amount can't stay at 800,000 baht forever.  It will have to increase in the future at some point.  What an easy way to capitalize your bank/s.  Just force farang to inject more money into them. 

 

3 hours ago, kinyara said:

7)  Not at all complicated if you have a simple Thai will.  A friend's daughter handled it from overseas, came on a 2 week holiday when documents were ready for signing and the cash was back in her home country before she was.

Why must one of my kids come to Thailand at all if they don't have to? 

 

Most of your list is just making excuses for the system, a system that I chose not to participate in and still live here. 

 

3 hours ago, kinyara said:

I honestly don't care what you do, if you feel comfortable with your approach good for you.  

Yes, and I have no problem with people who put the 800,000 baht in a a Thai bank, but just don't think people who don't can't afford to, and don't say your extension ONLY costs 1,900 baht because it's costing way more than that in lost interest. 

 

3 hours ago, kinyara said:

I personally feel more comfortable following the rules for the sake of saving a few thousand baht. Holding a relatively small amount of cash in the country I live in is sensible for emergencies rather than a burden, it's not a lot in the overall scheme of things. I'm not paranoid about the financial health of my Thai bank or in the least bit bothered with a 30 minute interaction with the Immigration processors every year.

Well, it's a little more than a just a few thousand baht.

 

Sure, do what makes you feel comfortable.  I am doing the same, and have listed my reasons, and I'm not the only one.  There's a reason why agents have shops all over Pattaya. 

2 minutes ago, Hummin said:

For me 800k is a safety asset if everything goes to hell, and get stuck in Thailand.

Can you give an example?  Why would you get stuck in Thailand?  Even Covid didn't stop international money transfers. 

 

I can transfer a significant amount of money to my Thai bank in a matter of seconds through WISE. 

 

I have health insurance.

 

I don't drink and drive / ride.

 

If you touch your 800,000 baht you have to replace it, so what's the difference? 

18 hours ago, gamb00ler said:

Amazing... your hindsight is 20/20.  Maybe you don't realize that sometimes the Western/Thailand exchange rate moves in favor of the Western currency?

But, but, but, the 800,000 baht that was transferred to Thailand 10 years ago has appreciated in value.  I can't use any of it, and it has to stay in the bank until I die, but it has gone up in exchange rate. 

6 minutes ago, KhunHeineken said:

But, but, but, the 800,000 baht that was transferred to Thailand 10 years ago has appreciated in value.  I can't use any of it, and it has to stay in the bank until I die, but it has gone up in exchange rate. 

I console myself that a good percentage of my net worth will stay in some investment until I die, meanwhile I can't use any of it... unless I somehow can accurately predict my demise well ahead of time.

4 minutes ago, KhunHeineken said:

Can you give an example?  Why would you get stuck in Thailand?  Even Covid didn't stop international money transfers. 

 

I can transfer a significant amount of money to my Thai bank in a matter of seconds through WISE. 

 

I have health insurance.

 

I don't drink and drive / ride.

 

If you touch your 800,000 baht you have to replace it, so what's the difference? 

Many people like to have a savings on hand, especially, like myself, never had health insurance.  For those with limited funds, and no health insurance, then that 800k for Imm / savings for emergency, could come in very handy during an oops.

 

Not everyone has a steady 65k a month income, as it may fluctuate, month to month, or, they simply don't generate that much every month.  Imm requirement met 👍

 

If you're a cash kind of person, hate giving interest to banks, and enjoy large purchases, on a whim, then a healthy bank account is nice to have.   Want a house, car, scooter, drone, then just go buy it.

16 minutes ago, KhunHeineken said:

Can you give an example?  Why would you get stuck in Thailand?  Even Covid didn't stop international money transfers. 

 

I can transfer a significant amount of money to my Thai bank in a matter of seconds through WISE. 

 

I have health insurance.

 

I don't drink and drive / ride.

 

If you touch your 800,000 baht you have to replace it, so what's the difference? 

 

I transfer when I need, and my saving account is just as one assets I do not need to touch. You know your bank guarantee 2 million? 

 

I think a bit further than you, so you do your thing, I do my thing. As said I spread th risk of deleted happens. 

 

War,  pandemics, nature catastrophe's, western finance crisis, and also Thai bath becomes stronger, and last immigration decided to rise the criteria for renewal. 

 

I'm not worried about loosing a few baht in interest for my assets here in Thailand, as well I'm not taxed in Thailand for the moment, so another reason to transfer money while I'm more out than in

 

 

7 minutes ago, KhunLA said:

Many people like to have a savings on hand, especially, like myself, never had health insurance. 

Ok, so, say a serious injury or illness was to happen and you dip into your 800,000 baht.  You have to hope it doesn't happen 2 months before extension time, right?  You'll have to replace it, so what's the difference?  If you don't or can't afford to replace it, you have no choice but to use an agent, right?

 

11 minutes ago, KhunLA said:

For those with limited funds, and no health insurance, then that 800k for Imm / savings for emergency, could come in very handy during an oops.

What happens after they use some or all of it????  Their only choice is then to use and agent, right? 

 

12 minutes ago, KhunLA said:

Not everyone has a steady 65k a month income, as it may fluctuate, month to month, or, they simply don't generate that much every month.  Imm requirement met 

Then I gather if they were to use some or all of their 800,000 baht then they have no choice but to use an agent for their next extension, right?

 

13 minutes ago, KhunLA said:

If you're a cash kind of person, hate giving interest to banks, and enjoy large purchases, on a whim, then a healthy bank account is nice to have.   Want a house, car, scooter, drone, then just go buy it.

That can be done by transferring though companies like WISE.  The money is here in seconds.  Where's the need for it to be in Thailand 24/7????

Well, it certainly is a very poor investment and in my opinion stupid to keep the 800,000 b in the bank.

This is the result from a simple S and P index fund. But, I guess this is why people only have 40 k a month to live on. Up to you.

 

If you invested $25000 in the S&P 500 at the beginning of 2015, you would have about $87,954.08 at the end of 2025, assuming you reinvested all dividends. This is a return on investment of 251.82%, or 12.84% per year.

 

 

12 minutes ago, bkk6060 said:

Well, it certainly is a very poor investment and in my opinion stupid to keep the 800,000 b in the bank.

This is the result from a simple S and P index fund. But, I guess this is why people only have 40 k a month to live on. Up to you.

 

If you invested $25000 in the S&P 500 at the beginning of 2015, you would have about $87,954.08 at the end of 2025, assuming you reinvested all dividends. This is a return on investment of 251.82%, or 12.84% per year.

 

 

But their extension ONLY costs 1,900 baht.  

16 minutes ago, KhunHeineken said:

Ok, so, say a serious injury or illness was to happen and you dip into your 800,000 baht.  You have to hope it doesn't happen 2 months before extension time, right?  You'll have to replace it, so what's the difference?  If you don't or can't afford to replace it, you have no choice but to use an agent, right?

 

What happens after they use some or all of it????  Their only choice is then to use and agent, right? 

 

Then I gather if they were to use some or all of their 800,000 baht then they have no choice but to use an agent for their next extension, right?

 

That can be done by transferring though companies like WISE.  The money is here in seconds.  Where's the need for it to be in Thailand 24/7????

Common sense is, you don't touch your 800k, unless you have to, for 'emergency', which for me, would only be for the hospital.

 

Meeting Imm requirement or staying in TH, wouldn't be that important.  Many people don't like to support corruption, so won't use an agent, to skirt the Imm financials.