Many here will proudly tell you their extension ONLY costs them 1,900 baht. They don't count the lost approximately 4% per annum in interest on the 800k baht. Yes, that's 32,000 baht, way more than the cost of the agent. 😂 😂 Then, as you say, you have the risk of keeping it in a Thai bank. If / when there is a run on the banks here, you can bet foreigners will be last in the queue. Why bother with the 800k baht when there is no need to do so?
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