Update: New Thai immigration rules for income!

[wgdanson]

4 minutes ago, SheungWan said:

The Tommy Cooper method.

Sorry I do not understand you.

Edited January 5, 2019 by wgdanson

[jacko45k]

1 minute ago, robsamui said:

It just keeps getting sloppier and more problematic every month! Making my head ache. After 22 years of full-time residence here I  just can't wait to get to Vietnam where there is NONE of these kind of hassles. I'm leaving in six weeks

I am sure your first couple of years were more straightforward than the last couple. ☺️

[Spidey]

7 minutes ago, wgdanson said:

 If you could show a withdrawal from your foreign bank, and a similar deposit in your Thai bank a few days later, would that not be sufficient evidence?   

The withdrawal/ deposit are almost instantaneous. I go into the bank, withdraw the funds from my CC using their card reader, then immediately deposit the money into my Thai account. Showing the deposit isn't a problem, the question is, will TI accept my CC receipts as proof of transfer from a foreign account?

 

Showing my UK bank statements with the withdrawal indicated, IMHO, isn't an option as TI clearly won't accept sight of foreign bank statements.

[Lacessit]

32 minutes ago, elviajero said:

 

 

I suspect the biggest losers will be those that, under the current arrangements, have  inflated their income, quoted gross income to cross the line, made up a non existent income. Of which I believe there are a lot.

 

I wouldn’t have thought keeping 320K in the bank would be too much of a problem for most genuine retirees.

Can't argue with that.

I suspect the real winners will be the dodgy agents that deposit funds to meet the 800K threshold, and charge a hefty premium for so doing.

I've only done the income route once. Compared to the 800K route, it was a PITA which can only get worse.

[scubascuba3]

You need 2 bank accounts. The one showing your pension and the other used to send money back out again and back to the official account
Can't see how TI could find out

Assuming the transfer out gets processed ok, the problem is taking a hit on the exchange rate each time. Usually a big spread between buy and sell

[jackdd]

3 minutes ago, Spidey said:

the question is, will TI accept my CC receipts as proof of transfer from a foreign account?

Especially because you would have only a copy of the cc receipts, because the original cc receipts are printed on thermal paper and are not readable after a few months.

[Lovethailandelite]

1 hour ago, elviajero said:

 

 

Why not? It is the details we need. 

 

 

It's a Thai only transcript and the majority would never understand it anyway. It's already been released on other Internet forums

[Spidey]

1 minute ago, jackdd said:

Especially because you would have only a copy of the cc receipts, because the original cc receipts are printed on thermal paper and are not readable after a few months.

Keep them in the freezer? 555

[wgdanson]

1 minute ago, jackdd said:

Especially because you would have only a copy of the cc receipts, because the original cc receipts are printed on thermal paper and are not readable after a few months.

Copy them. Or keep them in the dark.

[Lovethailandelite]

54 minutes ago, Old Croc said:

I've always used the 800k route.

Also, I would've met the qualification of transferring an average of 65k per month. The reason I've never done it this way was the necessity (pain) of dealing with the Embassy/Consulate and paying their large fees just to certify a document.

If Immigration will now just accept evidence from the bank to prove transfers, always part of the 800k method anyway, it would free up the money now held in a dead account.  

For someone like me, in future, my bank book and statements should be sufficient for Immigration to grant the extension without me having to also hold the 800K in a dead account.

My home country income is paid into my bank there, and I transfer large  amounts to my Thai account periodically when exchange rates are favorable. Typically 4-5 times a year.

So my question is - with the proposed changes, do the transfers have to be monthly, or can it be averaged out over the year?

The transcript states 'Every month'.

[mikosan]

28 minutes ago, Thaidream said:

Very Easy- I have 4 Bank Accounts in an American Bank and use online banking. Then I use  a Thai aTM to withdraw  more than 65K each month.  Only charge is 220 Baht at the Thai atm.

 

Now, I will be spending $40 per transfer and have to call my bank each month to get a security code- go online and fill out all the transfer data when I could simply show my  banking details to Thai Immigration which even shows the exact hour and day and ATM location here in Thailand.  Absolute proof. One sheet to look at plus the ATM cards if they ask plus the  account summary shows the income stream each month direct deposited. 

If you're spending, or thinking of spending, $40 to transfer 65K THB or the equivalent per month, you're getting ripped off by your bank.  Try using Transferwise.  It costs me approximately 10 GBP, I buy the 65K THB at whatever the rate is, transfer the GBP from my UK bank account to their UK bank account and they send me the 65K THB, which invariable arrives within 24 hours and there are no further fees when it hits my Thai bank account.  Not sure why, because when I previously used a FOREX account there were, but I'm not complaining.  I've been doing that religiously every month since this issue arose, in the hope that I will be covering my bases, if the new rules, as discussed here, actually come into force.

Edited January 5, 2019 by mikosan

[wgdanson]

17 minutes ago, Thaidream said:

Thai military Bank 30K per transaction- 220 Baht fee.  No need for bank transfers- account statement shows exact  amount, date and location of transaction backed up by the Thai ATM slip. 

You would still need to do THREE withdrawals.

[Spidey]

2 minutes ago, mikosan said:

If you're spending, or thinking of spending, $40 to transfer 65K THB or the equivalent per month, you're getting ripped off by your bank.  Try using Transferwise.  It costs me approximately 10 GBP, I buy the 65K THB at whatever the rate is, transfer the GBP from my UK bank account to their UK bank account and they send me the 65K THB, which invariable arrives within 24 hours and there are no further fees when it hits my Thai bank account.  Not sure why, because when I previously used a FOREX account there were, but I'm not complaining.

My Uk bank charges me £9.60 per SWIFT transfer. Only difference with using TransferWise is my SWift transfer takes several days to arrive in my Thai bank account.

[Lovethailandelite]

22 minutes ago, elviajero said:

They couldn’t. But have you ever tried transferring money out of a Thai bank account that wasn’t earned in a Thailand, or originally received from abroad? 

You know your wasting your time attempting to even explain how it works? You would of thought by now these people would of realised there scamming got us where we are right now?

[mikosan]

3 minutes ago, Spidey said:

My Uk bank charges me £9.60 per SWIFT transfer. Only difference with using TransferWise is my SWift transfer takes several days to arrive in my Thai bank account.

Are there any charges when the money hits your Thai bank account and what rate are you getting, because every month I compare the rates and costs and Transferwise is invariably cheaper, because their higher rate covers their sometimes higher charges and there is no fee imposed by my Thai bank.  But each to their own.

Edited January 5, 2019 by mikosan

[scubascuba3]

If you're spending, or thinking of spending, $40 to transfer 65K THB or the equivalent per month, you're getting ripped off by your bank.  Try using Transferwise.  It costs me approximately 10 GBP, I buy the 65K THB at whatever the rate is, transfer the GBP from my UK bank account to their UK bank account and they send me the 65K THB, which invariable arrives within 24 hours and there are no further fees when it hits my Thai bank account.  Not sure why, because when I previously used a FOREX account there were, but I'm not complaining.  I've been doing that religiously every month since this issue arose, in the hope that I will be covering my bases, if the new rules, as discussed here, actually come into force.

but may not count as foreign transfer. Thai bank will need to confirm. 

No one yet got an FET using transferwise?

 

 

 

[Lovethailandelite]

21 minutes ago, madmen said:

No but there appears to be some 3rd party accounts that have been mentioned on this thread like dee and transfer wise.

I'm sure people will find a way

Transferwise doesn't operate in Thailand for the simple reason 'You cannot just send money out of Thailand'. Transferwise only sends money 'In'.....Next idea please.

[Spidey]

1 minute ago, mikosan said:

Are there any charges when the money hits your Thai bank account and what rate are you getting, because every month I compare the rates and costs and Transferwise is invariably cheaper, because their higher rate covers their sometimes higher charges and there is no fee imposed by my Thai bank.  But each to their own.

I rarely use SWIFT transfer. I normally withdraw the money, in the bank, using my UK CC (Halifax Clarity). I incur zero costs at either end.

 

As for exchange rates, I get the Mastercard exchange rate, on the day. I have done detailed comparisons on several occasions and found that I always get a better rate than my Thai bank is offering and the same rate or better than those advertised at TT exchange booths.

[mikosan]

12 minutes ago, scubascuba3 said:

but may not count as foreign transfer. Thai bank will need to confirm.

 

No one yet got an FET using transferwise yet?

 

I have pdf receipts from every transfer which clearly show my registered address overseas, the amount of GBP exchanged and the amount of THB transferred to my Thai bank account and even my home address here in Thailand.  But it does also say that the money was delivered by local bank transfer from Transferwise's Thai banking partner, Bangkok Bank, so maybe that would be an issue. 

Edited January 5, 2019 by mikosan

[Lovethailandelite]

11 minutes ago, scubascuba3 said:

but may not count as foreign transfer. Thai bank will need to confirm. 

No one yet got an FET using transferwise?

 

 

 

Transferwise deposits show as incoming foreign transfers if going direct to a Bangkok bank account. Other banks and institutions, it shows as a local transfer.
All due to Bangkok bank being the clearing house for incoming Transferwise foreign transfers.

Edited January 5, 2019 by Lovethailandelite

[Spidey]

1 minute ago, mikosan said:

I have pdf receipts from every transfer which clearly show my registered address overseas, the amount of GBP exchanged and the amount of THB transferred to my Thai bank account and even my home address here in Thailand.

Of no use to TI. They won't accept foreign documents.

[Lacessit]

3 minutes ago, Lovethailandelite said:

Transferwise doesn't operate in Thailand for the simple reason 'You cannot just send money out of Thailand'. Transferwise only sends money 'In'.....Next idea please.

Of course you can. Withdraw baht from any Thai bank, and convert to whatever currency you want at a money exchanger. You can carry it out the next time you leave Thailand.

There is nothing illegal about having large quantities of cash with you. Provided you have receipts or statements establishing the origin of the cash.

[scubascuba3]

Transferwise deposits show as incoming foreign transfers if going direct to a Bangkok bank account. Other banks and institutions, it shows as a local transfer.
All due to Bangkok bank being the clearing house for incoming foreign transfers.

So FETs can be obtained for Transferwise Bangkok Bank transactions?

[onera1961]

12 minutes ago, Lovethailandelite said:

Transferwise doesn't operate in Thailand for the simple reason 'You cannot just send money out of Thailand'. Transferwise only sends money 'In'.....Next idea please.

DeeMoney. 150baht. Cheap Cheap Cheap. Euros cannot do. US dollars and British Pounds accounts accepted

Edited January 5, 2019 by onera1961

[KhunFred]

12 hours ago, Spidey said:

I still wonder how you prove that the 65k baht is from your home country. Foreign transfers aren't always clear in some bank books.

If you don't work, where else could the income be from?  You may be dwelling on a very small thing, here.

[Lovethailandelite]

Just now, scubascuba3 said:

1 minute ago, Lovethailandelite said:

Transferwise deposits show as incoming foreign transfers if going direct to a Bangkok bank account. Other banks and institutions, it shows as a local transfer.
All due to Bangkok bank being the clearing house for incoming foreign transfers.

So FETs can be obtained for Transferwise Bangkok Bank transactions?

Yes. They can be got for any banks but unless it's from Bangkok bank, you won't be able to get them from a local branch of say Kasikorn. You need go via Bangkok bank head office in Bangkok and that takes a week or more messing around.

[mikosan]

6 minutes ago, Spidey said:

Of no use to TI. They won't accept foreign documents.

Who says?

[onera1961]

18 minutes ago, scubascuba3 said:

No one yet got an FET using transferwise?

All my Bangkok bank deposits except 2 last year came "international transfer". I do transfer almost every week for 15K. 

[Lovethailandelite]

3 minutes ago, Lacessit said:

Of course you can. Withdraw baht from any Thai bank, and convert to whatever currency you want at a money exchanger. You can carry it out the next time you leave Thailand.

There is nothing illegal about having large quantities of cash with you. Provided you have receipts or statements establishing the origin of the cash.

That is handy. Playing the round Robin, you will be able to catch a flight back home twice a month to toss your funds around.

[mikosan]

1 minute ago, Lovethailandelite said:

Yes. They can be got for any banks but unless it's from Bangkok bank, you won't be able to get them from a local branch of say Kasikorn. You need go via Bangkok bank head office in Bangkok and that takes a week or more messing around.

I guess I better open a Bangkok Bank account!