Going under 400,000

[Joe Mcseismic]

58 minutes ago, Henryford said:

Because it's not clear to me how you "prove" the money comes from abroad. And on your extension day the IO might just say sorry one month not proved so the whole visa is invalid.

This has been dealt with in other threads.

If you use Bangkok Bank, each time money comes from overseas, the credit entry has FTT which stands for Foreign Telegraphic Transfer. This proves to immigration that the money has come from outside of Thailand.

[jacko45k]

3 hours ago, lapd said:

It wouldn't be quite so bad if they let you invest that money somehow.  Like to buy a condo or earn a decent interest rate or something.

Not a great market to be in. Rent.... and put the money into a FD for the extension. I always comment that buying a condo is a bad investment for an older person, if you need a place to live in. You might get 30 years rent out of what the place would cost you, and that should see you in the smallest place to live!

[Henryford]

46 minutes ago, Joe Mcseismic said:

This has been dealt with in other threads.

If you use Bangkok Bank, each time money comes from overseas, the credit entry has FTT which stands for Foreign Telegraphic Transfer. This proves to immigration that the money has come from outside of Thailand. 

Well

A) I don't have a BB account

B) I understand that sometimes the credit entry does not have a FTT prefix. It only needs one month to be missing and you are screwed.

[jacko45k]

3 minutes ago, Henryford said:

Well

A) I don't have a BB account

B) I understand that sometimes the credit entry does not have a FTT prefix. It only needs one month to be missing and you are screwed.

Item A) cannot be solved but TW also deal with Kasikorn, do you have an account with them?

B) I agree, I used TW 3 times and 1 of the 3 went via TMB and was not labelled as international, BUT, since then some communications with TW have brought this issue up and apparently now one can request of them which bank they will use to clear the funds.  

Alternative. Use SWIFT transfers and lose a bit on charges and the exchange rate. 

[Joe Mcseismic]

3 hours ago, Henryford said:

Well

A) I don't have a BB account

B) I understand that sometimes the credit entry does not have a FTT prefix. It only needs one month to be missing and you are screwed.

Up to you.

[steve73]

4 hours ago, jacko45k said:

..

B) I agree, I used TW 3 times and 1 of the 3 went via TMB and was not labelled as international, BUT, since then some communications with TW have brought this issue up and apparently now one can request of them which bank they will use to clear the funds.  

Alternative. Use SWIFT transfers and lose a bit on charges and the exchange rate. 

Beware... I've seen a couple of threads recently that are not so encouraging.

 

1. Someone transferred via TMB to his own TMB account but it was not coded as International...

2. Apparently TW have said they can no longer always manually route via your own bank...

Sorry, but I didn't keep a record of the thread titles..

 

So TW may not be suitable if you're planning to use the "income from abroad" method. 

[SEtonal]

4 hours ago, Henryford said:

Well

A) I don't have a BB account

B) I understand that sometimes the credit entry does not have a FTT prefix. It only needs one month to be missing and you are screwed.

TransferWise has a method where you can select the bank they use to transfer funds into Thailand (Bangkok Bank, Kasikorn, or TMB).  I believe they refer to your choice as a "recipient" bank.  The recipient bank you choose would obviously be your Thai bank.   The method is called "tag", "tagging", or "tagged".  You will need to read through the links.  The last link just states that you can make a recipient bank permanant instead of contacting TransferWise every time you want to make a transfer.

 

https://forum.thaivisa.com/topic/1086999-using-transferwise-money-service-to-move-money-from-foreign-bank-to-thai-bank-for-new-visa-requirements/?tab=comments#comment-13902703

 

https://forum.thaivisa.com/topic/1090197-switching-from-bank-method-to-income-method/page/2/

 

https://forum.thaivisa.com/topic/1095431-permission-to-stay-using-monthly-payments/?tab=comments#comment-14054333

 

[jacko45k]

36 minutes ago, steve73 said:

So TW may not be suitable if you're planning to use the "income from abroad" method. 

I did get positive statement from a friend wrt TW into BKB on this.

Of course that is the route most likely to succeed wrt getting FTT label, whether it is  100% guaranteed, I am not sure. For him, so far, so good.

[steve73]

1 hour ago, jacko45k said:

I did get positive statement from a friend wrt TW into BKB on this.

Of course that is the route most likely to succeed wrt getting FTT label, whether it is  100% guaranteed, I am not sure. For him, so far, so good.

Yes.. and I've had 2 /2 successes via Kasikorn, the most recent arrived just 10 day ago, but since then someone posted that they could no longer guarantee it would always be routed as requested... 

 

[Olmate]

2 hours ago, jacko45k said:

I did get positive statement from a friend wrt TW into BKB on this.

Of course that is the route most likely to succeed wrt getting FTT label, whether it is  100% guaranteed, I am not sure. For him, so far, so good.

Great way “to bank “on your extension! Oops sorry bye bye. Swift about 15k fees plus loss due to exchange rate?

[Olmate]

4 hours ago, Joe Mcseismic said:

Up to you.

Now there,s a business case for you!

[Thailand Outcast]

13 hours ago, utalkin2me said:

I scanned through this thread and to me it is almost as if people are acting like mortar shells are landing in their backyards. What a dicey environment this is! Then, there is an entire sect of posts inventing perils that are surely "going to happen soon".

 

My favorite bunch by far though are the "I am going to leave Thailand by golly, I'll do it!" posts. These are pure gold. "I am gonna leave I tell ya! I'll do it. There are much greener pastures out there!". I can hear Thais shudder in their flip flops at the thought of pretentious, needy, grumpy, perverted, stingy, picky, smelly, old men vacating their country. 

I think it's a case of people want to remain here legally, but not even immigration can advise them what is required.  There are reports of different requirements from different immigration offices.

 

People just want certainty. 

 

I'm one of the ones prepared to leave.  I don't say it as a threat, like you just, it's something I have to seriously consider.  I'll see how the agents are going before I make my final decision.

 

If I decide to leave, it's not as any form of protest, just what's best for me, and my circumstances, at the time.

 

"My favorite bunch" are the ones that actually think they have a right to live here, because a little sticker in their passport says so.  They put a lot of faith in that little sticker.  Perhaps, too much.  ????  

[jacko45k]

10 hours ago, Olmate said:

Great way “to bank “on your extension! Oops sorry bye bye. Swift about 15k fees plus loss due to exchange rate?

But it was fine and acceptable before Transferwise came into being. My UK/Offshore account actually does not make a charge, but Bangkok Bank will when money arrives and the exchange rate will be less than Transferwise. 

There is a slight concern that TW, and similar but smaller outfits, are not backed up and your money is 'at risk'. How secure are they?

[smedly]

10 hours ago, Thailand Outcast said:

I'll see how the agents are going before I make my final decision.

you won't know if the agent route is certain for 12 months when people start to renew extensions they got through an agent - like I keep saying - they will take your money now (why not) but have they given a guarantee for your next extension in 12 months were immigration can clearly see from your bank passbook that you did not keep a balance of 800k for 3 months after your last approval and 400k minimum for 12 months - they will have you over a barrel 

 

This is now a completely different ball game - agents bribed to bypass the 3 months seasoning which was simple enough and had no effect on you next renewal - now we have effectively 12 month seasoning and nobody knows the penalties for non compliance - what if it was a 5 year ban from getting further extensions  

[jacko45k]

16 minutes ago, smedly said:

you won't know if the agent route is certain for 12 months when people start to renew extensions they got through an agent -

The way things are I am not even sure the non-agent route will be there in 12 month time. If I was to bet on it, I think the agent route is more likely!

 

If immigration paid any attention whatsoever to passbooks brought by agents, which I bet there aren't any, all previous extensions done that way would be highlighted as dodgy!

 

The different ball game is already in progress, new regulations just as bypass-able as the old ones. There has been no mention of an Extension ban. 

[Gecko123]

Not sure about visa repercussions, but pretty safe bet your self-dignity will take a major hit during next visit to immigration.

[jacko45k]

4 minutes ago, Gecko123 said:

Not sure about visa repercussions, but pretty safe bet your self-dignity will take a major hit during next visit to immigration.

Self dignity needs to be left at home when visiting immigration!

[smedly]

39 minutes ago, jacko45k said:

The different ball game is already in progress, new regulations just as bypass-able as the old ones. There has been no mention of an Extension ban. 

If that is what you believe then Up to You

 

and as for extension ban or any such penalties for non conformance to the rules - anything is possible which was exactly my point - could depend on how much money you are willing to part with which puts everyone at the mercy of immigration if you fail to comply - it is all grey and shouldn't be, Immigration is a National Agency and should not be operating in such an unprofessional manner, everyone dealing with them should be very clear what the law is and the penalties for non compliance 

[smedly]

49 minutes ago, jacko45k said:

The way things are I am not even sure the non-agent route will be there in 12 month time. If I was to bet on it, I think the agent route is more likely!

So you think an official Thai government agency is going to operate unofficially - really ? 

[jacko45k]

2 minutes ago, smedly said:

So you think an official Thai government agency is going to operate unofficially - really ? 

You think an official Thai government agency does not already operate this way accepting and processing documents from agents? Really?

[Marpa47]

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?[/quote

 

Appeal based on documented evidence of a legitimate reason for expenditure? If one can demonstrate a history of compliance over time and sufficient income to recover?

 

 

Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[smedly]

36 minutes ago, jacko45k said:

You think an official Thai government agency does not already operate this way accepting and processing documents from agents? Really?

You were suggesting that you thought the official legitimate route would no longer exist in 12 months - I was simply pointing out how idiotic that was

[jacko45k]

10 minutes ago, smedly said:

You were suggesting that you thought the official legitimate route would no longer exist in 12 months - I was simply pointing out how idiotic that was

Not as idiotic as taking my cynical comment as 100%

By 'more likely' I meant 'agent use' would become a higher percentage of total. 

Edited April 28, 2019 by jacko45k