Going under 400,000

[Peterhua]

So you put your 800 grand in a Thai bank for 5 or is it 6 months, then an unforseen circumstance arises where you might need your bank balance to go under 400 thousand Baht, then what?

[khastan]

I think you will be denied your next extension for breaking the rules, but who knows

[ubonjoe]

That is really unknown at this time.

It is assumed they would not accept your next extension application. 

[Thailand]

So many unknowns here, shot at dawn may even be a possibility.

[WeekendRaider]

2 hours ago, Thailand said:

So many unknowns here, shot at dawn may even be a possibility.

yeah, meaning it won't be at all fun, at a minimum.  if you have a life here, notwithstanding how well it works out.

[ocddave]

You suck it up, and deal with whatever else is going on without touching the "400 Thousand baht". Like take a loan out, whatever you have to do, if you want to stay.

[Olmate]

3 minutes ago, ocddave said:

You suck it up, and deal with whatever else is going on without touching the "400 Thousand baht". Like take a loan out, whatever you have to do, if you want to stay.

400k doesn’t feature in your life now, donated to the cause, country, bank, whatever you want to call it.Scot me why some thinks it’s acceptable

[Thailand Outcast]

4 hours ago, khastan said:

I think you will be denied your next extension for breaking the rules, but who knows

You may be detained at your next 90 day report and have your visa revoked. 

 

I believe Jomtien Immigration are asking to see your bank book with bank balance when reporting.  

[Kenchamp]

12 minutes ago, Olmate said:

400k doesn’t feature in your life now, donated to the cause, country, bank, whatever you want to call it.Scot me why some thinks it’s acceptable

Not really acceptable to me either which is one of the reasons why i'm considering going back to a non o visa based on marriage.

 

[Thailand Outcast]

Just now, Kenchamp said:

Not really acceptable to me either which is one of the reasons why i'm considering going back to a non o visa based on marriage.

 

How long before that visa gets "tweaked?"  

[Kenchamp]

1 minute ago, Thailand Outcast said:

How long before that visa gets "tweaked?"  

I'm sure that is coming.

[Thailand Outcast]

6 minutes ago, Kenchamp said:

I'm sure that is coming.

I'm quite sure the 800k will be increased in the future as well.

 

Interesting times ahead. 

[geoffbezoz]

2 hours ago, Thailand said:

So many unknowns here, shot at dawn may even be a possibility.

Trust me, Thais have never shot anyone at dawn. Given their punctuality it will be nearer lunchtime giving you the possibility of a few extra hours ????????

[david555]

33 minutes ago, Thailand Outcast said:

You may be detained at your next 90 day report and have your visa revoked. 

 

I believe Jomtien Immigration are asking to see your bank book with bank balance when reporting.  

More even you could be from the date under the limit , considered technically on overstay as you'r extension is void from that moment date , nothing clear about eventual consequences how the I.O.'s go handle it ….. fining (brxxe ..) money possibility's in overflow for them...

Edited April 24, 2019 by david555

[ubonjoe]

39 minutes ago, Thailand Outcast said:

 

I believe Jomtien Immigration are asking to see your bank book with bank balance when reporting.  

No the are not. Just a check of the balance 3 months after date of application.

 

[david555]

15 minutes ago, ubonjoe said:

No the are not. Just a check of the balance 3 months after date of application.

 

We have to wait and see after that 3 months of application ...if the go give you another appointment paper or not , all is new , more shall be clear after  month May finished as then more reports expected

Edited April 24, 2019 by david555

[Thailand Outcast]

7 hours ago, ubonjoe said:

No the are not. Just a check of the balance 3 months after date of application.

 

And if a check of the balance reveals the balance is under 400k............................?

 

The 400k law is now there.  We now have to see how they "interpret" the punishment for going under it.  ????

Edited April 24, 2019 by Thailand Outcast

[Gumballl]

9 hours ago, Olmate said:

400k doesn’t feature in your life now, donated to the cause, country, bank, whatever you want to call it.Scot me why some thinks it’s acceptable

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

[Thailand Outcast]

2 hours ago, Gumballl said:

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

"Upping the ante" may have been fine when Thailand was the only place to "play." 

 

Now there are other places to play, that are not so far away, where the ante is a lot less to play the same game, which means more to the player and less to "the house."  ????

[Olmate]

3 hours ago, Gumballl said:

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

That’s a big barfine your paying pal!

[Kenchamp]

3 hours ago, Gumballl said:

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

Didn't think this topic was about whether  a retiree can or cannot afford to leave 400k in the bank. I read it as what would happen if an "unforeseen circumstance" arose, (the obvious one being a hospital bill) and he dropped below 400k as a consequence

[baansgr]

Also be interesting to see that if you do happen to go under, the IO offers an option for a small fee to let it slide

[watcharacters]

12 hours ago, Thailand Outcast said:

You may be detained at your next 90 day report and have your visa revoked. 

 

I believe Jomtien Immigration are asking to see your bank book with bank balance when reporting.  

 

At a minimum I'd bet they'd want to see a transaction on that very day showing an updated bank book.

 

That'd at least be better than a 100 THB bank letter.

[PaulDee]

12 hours ago, ubonjoe said:

No the are not. Just a check of the balance 3 months after date of application.

 

 

Just breezed through my 90-day report in Jomtien. The question of bank balance never arose.

[micky plumb]

17 hours ago, ubonjoe said:

 

I changed from Marriage to Retirement in mid December 2018 before these new rules came in. I wonder if I, or other persons similar, dip under the 400K during the coming year we will lose the Non 'O'?

 

Logic would say no. But it's something to consider.

 

I never actually do a 90 day as I work 28/28 and don't aim to go under the 400K but you never know :-)

 

Just a thought !

[saminoz]

14 hours ago, ocddave said:

You suck it up, and deal with whatever else is going on without touching the "400 Thousand baht". Like take a loan out, whatever you have to do, if you want to stay.

That's not a terrible idea.

I would think that if you can prove to a bank that you have a pension fund or income, maybe a history of residence in thailand and, probably, some level of property ownership in Thailand, then it could be a nice little earner for an enterprising Thai bank to offer the correct type of account with the requisite funds in an account that you, as the borrower, cannot even access.

Zero risk and a nice little interest earner.

The bank maintains the funds according to your individual timeframe, allows no access without exeptional bank approval and charges interest monthly.

If you fail to pay the monthly interest, then the bank simply pulls the facility and you screw yourself up.

What's the current bank loan interest rates in Thailand?

A rate that lies around the difference between the deposit interest rate and the 12 month loan term rate might work?

Just my tired old brain clunking and grinding.........

 

-addendum:  Of course, this being Thailand and if such a financial instrument could be n place, I am pretty sure that the banks would actually push for even higher pledged amounts in these accounts so as to increase thier risk free interest payments.

Edited April 25, 2019 by saminoz

[Henryford]

14 hours ago, Thailand Outcast said:

You may be detained at your next 90 day report and have your visa revoked. 

 

I believe Jomtien Immigration are asking to see your bank book with bank balance when reporting.  

That's the big worry. You might have a emergency in the first 6 months, it drops below 800k then you are thrown out of Thailand with 7 days notice.

[bert bloggs]

5 hours ago, Gumballl said:

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

You may be here"playing in Thailand" but what about the vast majority of us who live normal decent lives here with our family?

[mokwit]

5 hours ago, Gumballl said:

We call it an 'ante'. It is what it costs to play in Thailand. If a retiree cannot afford to always have the ante on the table, then they should not play in Thailand.

Come back and tell us how it feels when they up the ante and you have to get up from the table.

[Joe Mcseismic]

42 minutes ago, saminoz said:

That's not a terrible idea.

I would think that if you can prove to a bank that you have a pension fund or income, maybe a history of residence in thailand and, probably, some level of property ownership in Thailand, then it could be a nice little earner for an enterprising Thai bank to offer the correct type of account with the requisite funds in an account that you, as the borrower, cannot even access.

Zero risk and a nice little interest earner.

The bank maintains the funds according to your individual timeframe, allows no access without exeptional bank approval and charges interest monthly.

If you fail to pay the monthly interest, then the bank simply pulls the facility and you screw yourself up.

What's the current bank loan interest rates in Thailand?

A rate that lies around the difference between the deposit interest rate and the 12 month loan term rate might work?

Just my tired old brain clunking and grinding.........

 

-addendum:  Of course, this being Thailand and if such a financial instrument could be n place, I am pretty sure that the banks would actually push for even higher pledged amounts in these accounts so as to increase thier risk free interest payments.

Thai banks will not give loans to foreigners unless there is collateral in their name, or a Thai guarantor.

What's to stop the foreigner just leaving the country?