Australian Aged Pension

[David Walden]

2 hours ago, mark5335 said:

Since you have a Mulitple Entry Visa ("M") you don't need a Re-Entry permit during the validity of the visa. It's good for an unlimited number of visits of up to 90 days each during its validity (with entry by various modes of transport.) The visa can be extended for 12months during the final 30 days of your last 90 day visit, if you depart and return just prior to the expiry date you still get another 90 days stay . Once extended for 12 months you will then need a multi Re-Entry permit. Fees for extending and for the multi re-entry permit are not substantial (something like 1,900 baht + 3,800 baht).

 

(By the way, this question should  be in the Thai Visas, Residency and Work permit Sub-Forum and not the Home Country Sub-Forum).

 

 

 

 

 

 

Thank you Mark 5335 I'm on the right track I think...A doctor is scientist who translated complex health matter into simple laymans terms.  A lawyer is similar.  An account or is also similar with commercial matters.  A politician well we'll leave that one alone.  Perhaps immigration officers should be people who translate complex immigration matter into simple laymans terms? 

[moojar]

Over the weekend the Oz "big four" banks dropped ATM fees when you use an ATM other than your own bank's - the "foreign ATM fee" I think it was called, even within Australia.  I always use my own bank's ATMs, as that fee was just a "lazy tax" or "stupid tax" as far as I'm concerned.  So wasn't really paying attention.  But this line caught my eye today:  

 

Quote

The average withdrawal fee is about $2, but when using a "foreign" ATM at a bar or casino the cost can run as high as $11, and on overseas transactions it can hit as high as $20.

http://www.smh.com.au/business/banking-and-finance/banks-ditch-atm-fees-but-calls-for-a-royal-commission-remain-strong-20170924-gynoee.html

 

I'd be interested to hear if this is now the case when you withdraw from your Oz account at a Thai ATM - if that line is correct you'll be hit with the Thai bank's fee but not the Oz bank's fee. 

 

I suspect, like when you use you credit card overseas, there will still be a "currency conversion fee" or such.  How can they resist some sort of fee when they already have you bent over with your pants down around your ankles.  Interested to hear though. 

 

[David Walden]

1 hour ago, moojar said:

Over the weekend the Oz "big four" banks dropped ATM fees when you use an ATM other than your own bank's - the "foreign ATM fee" I think it was called, even within Australia.  I always use my own bank's ATMs, as that fee was just a "lazy tax" or "stupid tax" as far as I'm concerned.  So wasn't really paying attention.  But this line caught my eye today:  

 

http://www.smh.com.au/business/banking-and-finance/banks-ditch-atm-fees-but-calls-for-a-royal-commission-remain-strong-20170924-gynoee.html

 

I'd be interested to hear if this is now the case when you withdraw from your Oz account at a Thai ATM - if that line is correct you'll be hit with the Thai bank's fee but not the Oz bank's fee. 

 

I suspect, like when you use you credit card overseas, there will still be a "currency conversion fee" or such.  How can they resist some sort of fee when they already have you bent over with your pants down around your ankles.  Interested to hear though. 

 

moojar ( spelt all lower case) Interesting Ing Bank was always no fee (they have no ATMS in Aus)... I will be back in Thailand in another 9 days and the first thing I will do is make an ATM transaction.  I always bring some Aussie cash with me as a back up but usually take it home with me.  I like to go and from Aus often (see my other posts) and have some cash back up when I come to Thailand.  I have 3 debit cards and 2 credit cards.  1...Citibank debit + a credit card)   2... ANZ debit card +credit card    3... Ing Bank debit card only.  The Citibank and ANZ debit cards are linked to their credit cards.  If I make a mistake and put my debit card in the machine and press the wrong button on the machine the money will come from the credit cards ( I know).  For Bt10,000 it will cost me about Aus $25 for both Citibank or ANZ for the credit card transactions.  ANZ will always charge me Aus $25 which is $5 transaction fee 3% of the transaction plus the Bt220 for the Thai bank's fee and that is for both cards.  Citibank if I use the debit card only will cost me nothing and the Siam Bank ATM fee will not be charged.  If I use the Citibank Credit Card the cost will be about he same as ANZ  $25.   Ing Bank never charges a fee in Australia any to use any ATM.  I have not used it overseas but my  EX does (another story), she tells me it does not cost her anything.

 

Most banks require that you advise them where you are going overseas to be able to use it the cards.   From about Sept last year that notification is no longer required for my Citibank accounts you can use the debit card free of all charges at any ATM world wide,  but not the credit card.  For the other 2 banks yes.  ANZ you just do it on line, Ing Bank to have to phone them.

 

Here ia a link to Citibank debit card

https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

[moojar]

It sounds like you will save $5 on your ANZ withdrawals then David.  Better in your pocket than in theirs. 

 

The only Oz credit card I know of without the 'currency conversion' fee is 28 Degrees mastercard btw.  Maybe also a BankWest card, not sure. 

[David Walden]

15 minutes ago, moojar said:

It sounds like you will save $5 on your ANZ withdrawals then David.  Better in your pocket than in theirs. 

 

The only Oz credit card I know of without the 'currency conversion' fee is 28 Degrees mastercard btw.  Maybe also a BankWest card, not sure. 

If you click on the Citibank link I've included in my previous post it will take to the information page and application details of Citibank.  In Australia Citibank have no ATMS (Biggest bank in the world) so you uses Westpac and their subsidiaries free of charge.  Ing Bank is the same.  In Aus you have always been able to withdraw from your Ing Bank A/C from any ATM free of charge.  The big 4 banks are trying to do catch up.   In Aus the big banks pay no interest on deposits.  Ing Bank pays 2.8% interest .  For me that is $15 per week, no wonder they are trying to play catch up.

[moojar]

I already have a Citibank debit card thanks David - and I agree, it's a better prospect for travelling than any of the Oz banks' offerings.  Citibank just sent me a new one last week actually, m/card debit now whereas the old one was visa debit.   

 

Stretching the 'on topic' requirement here, but just let me sneak in a mention of this website:  www.ozbargain.com.au

 - it is basically a deal sharing site, where tightarses share bargains they have spotted.  There is also a forum area where people discuss things such as ... Citibank and 28 degrees cards (best cards for travelling) etc..  You might find some 'best online interest rate' type of discussions there. 

 

[keithpa]

2 hours ago, moojar said:

I already have a Citibank debit card thanks David - and I agree, it's a better prospect for travelling than any of the Oz banks' offerings.  Citibank just sent me a new one last week actually, m/card debit now whereas the old one was visa debit.   

 

Stretching the 'on topic' requirement here, but just let me sneak in a mention of this website:  www.ozbargain.com.au

 - it is basically a deal sharing site, where tightarses share bargains they have spotted.  There is also a forum area where people discuss things such as ... Citibank and 28 degrees cards (best cards for travelling) etc..  You might find some 'best online interest rate' type of discussions there. 

 

Oz banks will refund you up to 250K if your money goes missing, will Citibank and Ing?

[moojar]

Yes

 

It's not the bank that would refund you btw, it's the government.  'Australian Government Deposit Guarantee'.  As I understand it, it was brought in during the GFC.  Before that there was no guarantee.

[David Walden]

47 minutes ago, keithpa said:

Oz banks will refund you up to 250K if your money goes missing, will Citibank and Ing?

As far as I know all bank saving deposits in Australia are guaranteed up to the sum of Aus $250,000 by the Australian Govt. That is all banks with a banking  licence.  Citibank and Ing Bank have a licence.  Try and put $250,000 in 2 separate banks, the Govt will know.  Each person will only get a guarantee of $250,000 total.  Doesn't matter how you spread it around.

[moojar]

List of who is covered here for anyone that's concerned:

http://www.apra.gov.au/adi/Pages/adilist.aspx

 

These ones not covered:

http://www.apra.gov.au/adi/Pages/what-is-a-representative-office.aspx

 

ASIC has a blurb halfway down this page: 

https://www.moneysmart.gov.au/managing-your-money/banking

 

From what I read on the Canstar site btw, any funds in an overseas branch of an Australian bank is not covered.

 

 

[keithpa]

24 minutes ago, David Walden said:

As far as I know all bank saving deposits in Australia are guaranteed up to the sum of Aus $250,000 by the Australian Govt. That is all banks with a banking  licence.  Citibank and Ing Bank have a licence.  Try and put $250,000 in 2 separate banks, the Govt will know.  Each person will only get a guarantee of $250,000 total.  Doesn't matter how you spread it around.

The cap applies per person and per ADI. So if you have $250,000 with one ADI and $250,000 with another, then both of your deposits are guaranteed. If you have more than $250,000 with one ADI then only up to $250,000 is guaranteed. ( I always check my info)

[David Walden]

2 hours ago, keithpa said:

The cap applies per person and per ADI. So if you have $250,000 with one ADI and $250,000 with another, then both of your deposits are guaranteed. If you have more than $250,000 with one ADI then only up to $250,000 is guaranteed. ( I always check my info)

If I new meaning of ADI  I could comment on the post but nowhere in the Govt advice does it tell you what an ADI is ( I know sometimes I'm slow ).  The advice could very well be ambiguous as it gives 2 examples which appear to contradict each other.  However if you know what ADI means you may be correct.  I have been told by Ing Bank that only one lot of $250,000 can be guaranteed by the Govt for a single person.  Does not matter how you spread it around.

[tifino]

http://www.apra.gov.au/ADI/Pages/default.aspx

[David Walden]

2 hours ago, tifino said:

http://www.apra.gov.au/ADI/Pages/default.aspx

Well wonders will never cease.  ADI,   Authorised Deposit-taking Institutions.   I suppose that's the  lengthened version to describe institutions that are a very simply a word which has been known for 5000 years  as "BANKS"   It reminds me that  in my business days I did a lot of business with primary schools.  Some of these large primary schools were divided into 2 separate school.  For the older children it was just called a "_Bla Bla Primary school"  For a hundred years the junior Primary was just called  "  Bla  Bla Junior Primary School.  Some bright spark in the Education Dept decided to change the name of all Junior Primary School in W.A. to Bla Bla  E. C. E. U...What the hell is an Bla Bla ECEU.  After 25 years of wasting money, new letter heads. delivery people trying to find the Bla Bla ECEU some people now know what it means...ECEU    Early Childhood Education UNIT.   Still after 25 years the young mother still call their young children  kids school   "The Bla Bla Junior Primary School" (most anyway).   Lot to do about nothing.

Like sometimes I say to people  "I sent you a 5 page letter because I did not have time to write you a one page letter"  5 page letters are often full of wafting useless information.

[keithpa]

18 hours ago, David Walden said:

If I new meaning of ADI  I could comment on the post but nowhere in the Govt advice does it tell you what an ADI is ( I know sometimes I'm slow ).  The advice could very well be ambiguous as it gives 2 examples which appear to contradict each other.  However if you know what ADI means you may be correct.  I have been told by Ing Bank that only one lot of $250,000 can be guaranteed by the Govt for a single person.  Does not matter how you spread it around.

Its obvious that i do know what ADI means or I would not have quoted it. And not "may be correct", am correct.

[David Walden]

3 hours ago, keithpa said:

Its obvious that i do know what ADI means or I would not have quoted it. And not "may be correct", am correct.

Yes Bank.   So there are about 200 ADI's listed.  Does this now mean if you put $250,000 in each of them the Australian Govt would guarantee all of these deposit...$50 million dollars worth?

[keithpa]

1 hour ago, David Walden said:

Yes Bank.   So there are about 200 ADI's listed.  Does this now mean if you put $250,000 in each of them the Australian Govt would guarantee all of these deposit...$50 million dollars worth?

 

1 hour ago, David Walden said:

Yes Bank.   So there are about 200 ADI's listed.  Does this now mean if you put $250,000 in each of them the Australian Govt would guarantee all of these deposit...$50 million dollars worth?

As I recall, for banks, building societies and credit unions incorporated in Australia, the FCS provides protection to depositors up to $250,000 per account-holder per ADI. The Scheme seeks to provide depositors with timely access to their protected deposits in the unlikely event of the failure of their ADI . If you had 250K to put into 200 banks, then you might as well start your own bank.  ( there is a link published on here for you to check it out for yourself) Go find it.

[David Walden]

30 minutes ago, keithpa said:

 

As I recall, for banks, building societies and credit unions incorporated in Australia, the FCS provides protection to depositors up to $250,000 per account-holder per ADI. The Scheme seeks to provide depositors with timely access to their protected deposits in the unlikely event of the failure of their ADI . If you had 250K to put into 200 banks, then you might as well start your own bank.  ( there is a link published on here for you to check it out for yourself) Go find it.

I have already done that so don't too excited.  I sure there is a limit somewhere as the man from Ing Bank (or ADI ) told me.  I'm sure that somewhere in the fine print there will be a surprise.

[keithpa]

44 minutes ago, David Walden said:

I have already done that so don't too excited.  I sure there is a limit somewhere as the man from Ing Bank (or ADI ) told me.  I'm sure that somewhere in the fine print there will be a surprise.

How much money you got?

[opalred]

for all the big money numbers thrown around

why would you want a pension

leave the money for people that need it

[David Walden]

2 hours ago, keithpa said:

How much money you got?

I've got the Aussie full pension, the rest is a secret.

[keithpa]

5 hours ago, David Walden said:

I've got the Aussie full pension, the rest is a secret.

So you get $290  a week. Must have taken a long time to save the millions you want to bank. Your boreing, Im, over and out.

[David Walden]

6 hours ago, keithpa said:

So you get $290  a week. Must have taken a long time to save the millions you want to bank. Your boreing, Im, over and out.

Thank you for being approximately correct.  These exchanges are great fun...or maybe not?

[Will27]

1 hour ago, David Walden said:

Thank you for being approximately correct.  These exchanges are great fun...or maybe not?

Well you don't have to reply to every post.

 

You did post this: 

 

"You have deleted my most recent post on this site which was I presume off topic.  I was seeking other people experiences in getting the best from an "Non-immigrant O-A M visa" or a "Retirement Visa " issued   In Australia.  I will be making no further contributions to this site until it is restored"

[4MyEgo]

On 25/09/2017 at 10:17 AM, David Walden said:

moojar ( spelt all lower case) Interesting Ing Bank was always no fee (they have no ATMS in Aus)... I will be back in Thailand in another 9 days and the first thing I will do is make an ATM transaction.  I always bring some Aussie cash with me as a back up but usually take it home with me.  I like to go and from Aus often (see my other posts) and have some cash back up when I come to Thailand.  I have 3 debit cards and 2 credit cards.  1...Citibank debit + a credit card)   2... ANZ debit card +credit card    3... Ing Bank debit card only.  The Citibank and ANZ debit cards are linked to their credit cards.  If I make a mistake and put my debit card in the machine and press the wrong button on the machine the money will come from the credit cards ( I know).  For Bt10,000 it will cost me about Aus $25 for both Citibank or ANZ for the credit card transactions.  ANZ will always charge me Aus $25 which is $5 transaction fee 3% of the transaction plus the Bt220 for the Thai bank's fee and that is for both cards.  Citibank if I use the debit card only will cost me nothing and the Siam Bank ATM fee will not be charged.  If I use the Citibank Credit Card the cost will be about he same as ANZ  $25.   Ing Bank never charges a fee in Australia any to use any ATM.  I have not used it overseas but my  EX does (another story), she tells me it does not cost her anything.

 

Most banks require that you advise them where you are going overseas to be able to use it the cards.   From about Sept last year that notification is no longer required for my Citibank accounts you can use the debit card free of all charges at any ATM world wide,  but not the credit card.  For the other 2 banks yes.  ANZ you just do it on line, Ing Bank to have to phone them.

 

Here ia a link to Citibank debit card

https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

I have not used it overseas but my  EX does (another story), she tells me it does not cost her anything.

 

ING will charge you if you withdrawal money from any ATM machine in Thailand, so I think your EX is wrong, ING are like any other bank and will charge for international withdrawals on your debit card

[halloween]

1 minute ago, 4MyEgo said:

I have not used it overseas but my  EX does (another story), she tells me it does not cost her anything.

 

ING will charge you if you withdrawal money from any ATM machine in Thailand, so I think your EX is wrong, ING are like any other bank and will charge for international withdrawals on your debit card

Not quite "any bank". Unity Bank, formerly MMPCU, does not charge me for Thailand ATM withdrawals. There is a slight difference in exchange rate between ATM and over-the-counter withdrawals exactly equivalent to the Thai B220 ATM fee.

BTW VISA debit card.

[4MyEgo]

On 25/09/2017 at 3:23 PM, keithpa said:

Oz banks will refund you up to 250K if your money goes missing, will Citibank and Ing?

The cap applies per person and per ADI. So if you have $250,000 with one ADI and $250,000 with another, then both of your deposits are guaranteed. If you have more than $250,000 with one ADI then only up to $250,000 is guaranteed.

[David Walden]

1 hour ago, 4MyEgo said:

I have not used it overseas but my  EX does (another story), she tells me it does not cost her anything.

 

ING will charge you if you withdrawal money from any ATM machine in Thailand, so I think your EX is wrong, ING are like any other bank and will charge for international withdrawals on your debit card

Ing Bank will charge you Aus $2 on a debit card transaction plus the Thai ATM bank fee.  I haven't used mine in Thailand  because Citibank Debit Card issued in Australia which I have does not charge any fee on ATM or money transfers at any ATM or bank world wide and the ATM fee which appears on the Thai bank ATM docket is refunded immediately.  Credit card fees to take for most banks about Aus $25 for each Bt 10,000 transaction.  Citibank debit card is free.

 

A link to Citibank debit card info    https://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

[David Walden]

8 hours ago, Will27 said:

Well you don't have to reply to every post.

 

You did post this: 

 

"You have deleted my most recent post on this site which was I presume off topic.  I was seeking other people experiences in getting the best from an "Non-immigrant O-A M visa" or a "Retirement Visa " issued   In Australia.  I will be making no further contributions to this site until it is restored"

Yes but I lied.

[ripstanley]

1 hour ago, David Walden said:

Yes but I lied.

Everyone who reads this thread are very aware of that.