800k Not In the Bank Method

[Packer]

19 minutes ago, DrJack54 said:

income method

 

Recycled Income Method (RIM) should be a term. 

 

Simply set aside 65,000 and transfer to yourself every month. Unless IOs are on to it and have a way to stop it happening? 

[DrJack54]

7 minutes ago, Packer said:

Recycled Income Method (RIM) should be a term

For who. 

The concept of sending funds back and forth is frankly stupid. 

As already mentioned the VAST majority of expats here on extensions retirement use the income transferred to live off. 

[Packer]

32 minutes ago, DrJack54 said:

For who. 

 

For aliens that instead of keeping 800,000 locked up for months every year and 400,000 locked up for each year, instead choose to only sacrifice 65,000 while they are living here, and simply transfer it in and out every month in 5 minutes on their PC or iPad. 

 

For those who have an income of say, 60,000 per month and little savings.

To those that work here off the radar and not in the system.

There are many reasons why an alien would find it useful.

 

What the VAST majority do matters not a jot with regards to if it is a viable option that IOs are not onto. 🙂 

[gearbox]

9 hours ago, BKKKevin said:

What Thai bank are you using to get 1.5%?

Bangkok Bank...but I did it the beginning of January. I think they lowered the rates since then.

[DrJack54]

11 minutes ago, Packer said:

....instead choose to only sacrifice 65,000 while they are living here, and simply transfer it in and out every month in 5 minutes on their PC or iPad

And and what do they live off. 

12 minutes ago, Packer said:

To those that work here off the radar and not in the system.

Oh missed that bit. 

You are aiming this at folk working illegally in Thailand and hence can send the funds back and forth. 

 

The ramblings are becoming more ridiculous. 

 

[Packer]

3 minutes ago, DrJack54 said:

The ramblings are becoming more ridiculous. 

 

Your need to insult is both telling and sad. 

 

3 minutes ago, DrJack54 said:

And and what do they live off. 

 

This was answered many times. 

 

 

Twice in the post you quoted. 🙂 

[gearbox]

9 hours ago, DrJack54 said:

Back up the high horse. 

Most including myself are well aware of the term and meaning of "opportunity cost" 

 

I have 800k in Thai Bank for immigration and those funds (at some point) came from my CBus Superannuation account which historically pays 8%.

 

So yes there is an opportunity cost involved. 

It's a personal choice so IMO turn it down a notch. 

Implying someone is a fool for not using an agent is your opinion. 

My retirement non-O extension has lapsed now, but I still keep 1.2-1.5 mil baht in Thai banks as currency hedge. I transferred the amounts when the Aussie was 23-25 baht, so I'm ahead at least 10% for the time being.

 

Everyone has different circumstances, for me tax issues are much more important than 800k sitting in Thai banks.

[DrJack54]

5 minutes ago, gearbox said:

My retirement non-O extension has lapsed now, but I still keep 1.2-1.5 mil baht in Thai banks as currency hedge.

Does not have much to do with the thread which is related to financial compliance for extensions retirement. 

If you opt to leave your funds in a Thai Bank then fine. 

Out of interest without an extension how are you living in Thailand? 

[scubascuba3]

44 minutes ago, Packer said:

 

For aliens that instead of keeping 800,000 locked up for months every year and 400,000 locked up for each year, instead choose to only sacrifice 65,000 while they are living here, and simply transfer it in and out every month in 5 minutes on their PC or iPad. 

 

For those who have an income of say, 60,000 per month and little savings.

To those that work here off the radar and not in the system.

There are many reasons why an alien would find it useful.

 

What the VAST majority do matters not a jot with regards to if it is a viable option that IOs are not onto. 🙂 

People used to talk about this 65k in out every month years ago, not sure if anyone did it, maybe Immigration would spot it easy. For me having 800k+ in a bank account is no big deal, there for medical anyway

[gearbox]

2 minutes ago, DrJack54 said:

Does not have much to do with the thread which is related to financial compliance for extensions retirement. 

If you opt to leave your funds in a Thai Bank then fine. 

Out of interest without an extension how are you living in Thailand? 

Max 6 months per year, will move to DTV soon. I don't plan to spend more than 4-5 months in Thailand in the next few years, first I have extensive travel plans, second don't want to be a tax resident here.

[Packer]

2 minutes ago, scubascuba3 said:

People used to talk about this 65k in out every month years ago, not sure if anyone did it, maybe Immigration would spot it easy.

 

That's the question. 

 

A lot of people work remotely part-time, freelance etc, Thai authorities have said no problem in the past about working in co-working spaces on non-work visas etc.

 

Some people's state pensions are way less that 65,000. The British one is only around 40,000 or so from what I read. 

 

Doing a RIM (Recycled Income Method) would likely benefit many of them. 

 

If it is done? 

 

[DrJack54]

4 minutes ago, scubascuba3 said:

People used to talk about this 65k in out every month years ago, not sure if anyone did it, maybe Immigration would spot it easy

Many threads on this. 

Mostly pre 2020. 

Immigration would not "spot it" 

Fact is it's a plain stupid idea. 

 

 

 

[dutch boy]

On 6/26/2025 at 9:42 PM, Magictoad said:

Use an agent!

I agree, just use an agent and forget the 90 day reports and money in the bank. I was quoted two thousand Baht for the agent to put the money in the bank for me. So much easier and cheaper. 

[scubascuba3]

6 minutes ago, DrJack54 said:

Many threads on this. 

Mostly pre 2020. 

Immigration would not "spot it" 

Fact is it's a plain stupid idea. 

 

 

 

why would Immigration not "spot it"?

[DrJack54]

Just now, dutch boy said:

I agree, just use an agent and forget the 90 day reports and money in the bank. I was quoted two thousand Baht for the agent to put the money in the bank for me. So much easier and cheaper. 

Please post facts. 

Using an agent to avoid the financial requirements previously would start at ~13k 

That has recently increased due to banking issues. 

Where do you obtain this service for 2k. 

[scubascuba3]

8 minutes ago, Packer said:

 

That's the question. 

 

A lot of people work remotely part-time, freelance etc, Thai authorities have said no problem in the past about working in co-working spaces on non-work visas etc.

 

Some people's state pensions are way less that 65,000. The British one is only around 40,000 or so from what I read. 

 

Doing a RIM (Recycled Income Method) would likely benefit many of them. 

 

If it is done? 

 

Using an agent for 12500 baht a year is easy enough even for those on the lowest pensions 

[dutch boy]

Ha, Ha, not telling and I do not want to get this agent in trouble. Do your own shopping and due diligence. 

[DrJack54]

1 minute ago, scubascuba3 said:

why would Immigration not "spot it"?

Is that serious. 

Immigration want to see a 12 month Bank statement at time of extension showing 12 months of international transfers of 65k+ 

What happens after deposited immigration is and could not be interested in. 

In my case approx 120k hits my Thai Bank on 14th of every month. 

Same day those funds go into my Thai partners account. 

Those funds we live off. 

Wash and repeat. 

Again recycling in a nonsense. 

[DrJack54]

4 minutes ago, dutch boy said:

Ha, Ha, not telling and I do not want to get this agent in trouble. Do your own shopping and due diligence. 

In others words you have nothing to contribute that is useful to others. 

Just fanciful claims

[Packer]

18 minutes ago, DrJack54 said:

Again recycling in a nonsense. 

 

Again, you seem to have a hang up about it and start insulting it. 

 

A poster was talking about British pensions a few days ago. Some of them were 35,000. That is astoundingly low, if due to life events that is their lot. 

 

For them, recycling monthly income may be an easy and convenient manner to get extensions. 

 

Just because it isn't relevant to you doesn't mean that it isn't for others. 🙂 

[scubascuba3]

2 minutes ago, Packer said:

For them, recycling monthly income may be an easy and convenient manner to get extensions

Have you worked out the costs of transferring out the country and back in every month? just easier to pay an agent

[TimBKK]

17 minutes ago, scubascuba3 said:

Have you worked out the costs of transferring out the country and back in every month? just easier to pay an agent

I think you may be right, ~ 17 usd to send by Wise; ~ 15 for BKK Bank to receive = ~ 32 usd / 1040b each month x 12 is 12480b.

 

Maneerat and Cambodia Inter both charge 12500b for (OA) extension.

 

The only way I can see it working out is if you have a sending account that does not charge a outgoing wire transfer fee e.g. brokerages like Vanguard or Fidelity (depends on how much money you have with them, I believe).

 

Otherwise, just pay an agent like you say - its so much easier and less stressful.

[Packer]

28 minutes ago, scubascuba3 said:

Have you worked out the costs of transferring out the country and back in every month? just easier to pay an agent

 

I'll invest 800,000 here and use the dividends to pay an agent 14,000 per year after the initial extension done myself, more than likely. 

 

The RIM may be of interest to British pensioners. It's also a bit interesting to see if IO are onto it. Have the embassy letters thing completely ended now? 

[DrJack54]

10 minutes ago, Packer said:

I'll invest 800,000 here and use the dividends to pay an agent 14,000 per year after the initial extension done myself, more than likely. 

Investing 800k in Thailand would be foolish if the intention is to use an agent.

You would obtain a Non O outside of Thailand as the funds do not need to be in a Thai bank account.

The agent then does the 12 month and ongoing extensions.

Invest the 800k outside of Thailand.

That's obvious. 

[DrJack54]

13 minutes ago, Packer said:

Have the embassy letters thing completely ended now? 

Are you asking about embassy income letter from UK ..

Ended years ago along with USA, AU.

In addition to recently other countries. 

[Packer]

1 hour ago, DrJack54 said:

Investing 800k in Thailand would be foolish if the intention is to use an agent.

You would obtain a Non O outside of Thailand as the funds do not need to be in a Thai bank account.

The agent then does the 12 month and ongoing extensions.

Invest the 800k outside of Thailand.

That's obvious. 

Actually you're wrong. The first extension would be done without an agent, 800,000 in a Thai bank. Then withdrawn and invested in Thailand earning more than the 14,000 agents charge for ongoing extensions. 🙂 If the agent avenue becomes closed, the 800,000 is still here to be used without an agent.

 

1 hour ago, DrJack54 said:

Are you asking about embassy income letter from UK ..

 

Not only from the UK. I'm not from the UK. Posters come from all over the world. US, Aus, Canada, Israel, Ireland, etc.

 

Good to know they have all done away with it and posters from those countries can get annual retirement extensions by simply recycling the same 65,000 every month should they wish or need to. 🙂 

[Liquorice]

2 hours ago, Packer said:

A poster was talking about British pensions a few days ago. Some of them were 35,000. That is astoundingly low, if due to life events that is their lot. 

 

For them, recycling monthly income may be an easy and convenient manner to get extensions. 

It's not feasible or practicable with transfer costs and exchange rates both ways.

That initial 35K becomes 30K after transferring overseas, then transferring back to Thailand.

 

If you want to try it, be my guest!
 

[Liquorice]

39 minutes ago, Packer said:

Actually you're wrong. The first extension would be done without an agent, 800,000 in a Thai bank. Then withdrawn and invested in Thailand earning more than the 14,000 agents charge for ongoing extensions.

Unfortunately, and I guess you're not in Thailand, the requirement is for the 800K to remain in the account for 3 months after the extension is issued, only then can you make a withdrawal, but must leave a minimum of 400K in the account for the remaining 7 months.

 

You cannot withdraw the 800K and invest elsewhere as you suggest, therefore you are wrong!

[Packer]

13 minutes ago, Liquorice said:

Unfortunately, and I guess you're not in Thailand, the requirement is for the 800K to remain in the account for 3 months after the extension is issued, only then can you make a withdrawal, but must leave a minimum of 400K in the account for the remaining 7 months.

 

Exactly. 

 

After the first extension is done and dusted. Agents will renew with no funds required for only 14,000 per year. (26,000 for the first year if your funds are elsewhere. )

[pub2022]

On 6/26/2025 at 5:27 PM, DrJack54 said:

 

800k in bank 2 months prior and three months post application. 

 

 

Start counting the 3 months from the day you get the 1 year stamp?