General Reports

[QUOTE=Goatscrot;2274051]Yes, but the translation said "average monthly deposit of 65,000 Baht. " So again, what about guys that get their pensions quarterly? Will quarterly deposits be ok? This needs to be clarified. It is not clear. I imagine that we will see some more on this in the fullness of time. The 800 k is much easier really.[/QUOTE]They do suggest that there might be some leeway given this first year until everyone gets the word in person about what they need to have:

[QUOTE]An unconfirmed report submitted by Thaivisa member bkk6060 stated that immigration are likely to offer some leeway to foreigners with regards to submitting 12 months worth of statements for the first applications under the new requirements.

However, from 2020 applicants will need to make sure they are able to show a full 12 months worth of income coming to a Thai bank account.[/QUOTE]Here is the part that leaves me a bit uncertain:

[QUOTE]2. Evidence of a pension. Letter of certification from a Thai bank supported by bank statements showing a pension being transferred to the pensioners bank account every month for at least 12 months. Exceptions are allowed for those who have been retired for less than one year example given.[/QUOTE]I can easily produce evidence from my Thai bank showing more than 65,000 baht per month in Foreign Transfers being made for each of the previous 12 months. But they are not all from a "pension" exactly. They are from various sources, including a pension less than 65,000 baht per month combined with rental property income, IRA withdrawals, etc. My Social Security income would be plenty to cover the amount from a single source, but I have not started collecting my Social Security payments yet.

[QUOTE=Franciscass;2273987]Additionally there seems to be a change in the 8000000 balance in your account for a period of three months prior to application or renewal qualification.[/QUOTE]I was just showing off, for the less fortunate the figure is a mere 800,000.

[QUOTE=Goatscrot;2274051]Yes, but the translation said "average monthly deposit of 65,000 Baht. " So again, what about guys that get their pensions quarterly? Will quarterly deposits be ok? This needs to be clarified. It is not clear. I imagine that we will see some more on this in the fullness of time. The 800 k is much easier really.[/QUOTE]I got this from the official at Jomtien the other day window 8, where they do the extension. Average to them is nothing less than 65,000 baht a month knowing this as Thailand, communication, and comprehension I seriously doubt anyone can actually do the math and do the division for quarterly? Of course what Jomtien does is anyone guess at any other immigration? If you go to one of the threads on Th-iV-s- regarding the income and look for a member / moderator Ubonjoe? You ask you question you should get a good answer?

Good luck.

It really is difficult to understand the thinking behind requirements for retirees. Surely it should be no more than can they adequately support themselves while they are here. How does it matter whether remittances are monthly quarterly or annually or if a retiree has say 10 million up here owns his or her own property why shouldn't that be adequate. Seems to me they want to make it more difficult for this demographic to live here. Why?

[QUOTE=EihTooms;2274057]I can easily produce evidence from my Thai bank showing more than 65,000 baht per month in Foreign Transfers being made for each of the previous 12 months.[/QUOTE]I'm toying with the idea of moving to Thailand. What is the best way to arrange transfers from USA to Thai banks without getting a lousy exchange rate and/or high international exchange fees? If I use my Fidelity debit card and cash from an ATM for everything, I get the decent exchange rate per [URL]XE.com[/URL] and all ATM fees are reimbursed by Fidelity (right now it is 31.9011 Baht/USD).

I recently read about the Amazon Visa. I haven't checked it out closely though.

Don't Americans all use Charles Schwab and their are no fees or something like that? For me it's an expensive struggle getting money to Thailand. Not even allowed to do bank to bank transfers from banks in my country to Thailand without getting my accounts locked.

[QUOTE=HorseTrader;2274366]I'm toying with the idea of moving to Thailand. What is the best way to arrange transfers from USA to Thai banks without getting a lousy exchange rate and/or high international exchange fees? If I use my Fidelity debit card and cash from an ATM for everything, I get the decent exchange rate per [URL]XE.com[/URL] and all ATM fees are reimbursed by Fidelity (right now it is 31.9011 Baht/USD).[/QUOTE]That Fidelity card is a very good thing to have since you get reimbursed for the ATM fees. I'm not sure if you can even open a bank account in Thailand without a work permit though. I am curious though and some guys on here would know.

[QUOTE=Smoothy;2274415]That Fidelity card is a very good thing to have since you get reimbursed for the ATM fees. I'm not sure if you can even open a bank account in Thailand without a work permit though. I am curious though and some guys on here would know.[/QUOTE]Hi Smoothy. There is a bank on Soi 33 on the right side of the road who will open a Thai bank account without a work permit and only require minimal supporting documentation. I have emailed a friend who knows the name of the bank and will post when she responds.

[QUOTE=Franciscass;2274354] Seems to me they want to make it more difficult for this demographic to live here. Why?[/QUOTE]Because they want our money but want to have as little to do with us as is humanly possible. Thailand.

[QUOTE=Smoothy;2274415]I'm not sure if you can even open a bank account in Thailand without a work permit though. I am curious though and some guys on here would know.[/QUOTE]Yes you can. Just need to get your Certificate of Residency or whatever it's called from your landlord. Showing you have an extended Visa likely helps too.

[QUOTE=Franciscass;2274354]It really is difficult to understand the thinking behind requirements for retirees. Surely it should be no more than can they adequately support themselves while they are here. How does it matter whether remittances are monthly quarterly or annually or if a retiree has say 10 million up here owns his or her own property why shouldn't that be adequate. Seems to me they want to make it more difficult for this demographic to live here. Why?[/QUOTE]Thais who travel to the US aren't subject to any kind of "90 day reporting," bank deposit requirements, exit requirements, and they can buy as much land as they can afford. But it only goes one way.

Not too difficult to figure out really. Most Thais fear and / or dislike Farang, and it has long been that way. They allow them in under tight controls in order to extract their wealth without allowing them to gain a permanent foothold or any kind of power.

Note that the same restrictions absolutely do not apply to Asians from China, Japan or Korea who know how to play the game.

[QUOTE=HorseTrader;2274366]I'm toying with the idea of moving to Thailand. What is the best way to arrange transfers from USA to Thai banks without getting a lousy exchange rate and/or high international exchange fees? If I use my Fidelity debit card and cash from an ATM for everything, I get the decent exchange rate per [URL]XE.com[/URL] and all ATM fees are reimbursed by Fidelity (right now it is 31.9011 Baht/USD).[/QUOTE]Why transfer anything? Better off to keep your money in the US and withdraw it as needed. Any bank you use in Thailand will report back the US government anyway. There's no benefit unless you need to show a deposit for a visa.

Sounds like you are already fine with Fidelity. If not, get a Charles Schwab account. They refund any ATM fees at the end of the month and give the real exchange rate. That's even better than Thai banks which like to get money any way they can. For example, if you open an account at Thai Bank in Bangkok, you may be charged for taking money out of a Thai Bank ATM in Pattaya or Chiang Mai "because that's another city. ".

[QUOTE=RickRock;2274445]
Sounds like you are already fine with Fidelity. If not, get a Charles Schwab account. [/QUOTE]There isn't much difference between those two. Fidelity is probably a little better, but it's much tougher to get than the Schwab account. Since he already has it, he's golden.

[QUOTE=Franciscass;2273987]Some of the changes need clarification.

Does it have to be regular monthly transfers or would one or two lump sums totaling 780000 starting on the first month of the year in question be OK?

Additionally there seems to be a change in the 8000000 balance in your account for a period of three months prior to application or renewal qualification. It looks like you now have to have that amount transferred each year rather than heretofore when it was sufficient to just to show you had it in your account for the prior 3 months.

What happens if all of your funds are already in Thailand?

Living here is getting more and more complicated.[/QUOTE]The new rules released only pertain to the 65 k and there has been no change to the 800 k. I have read of no stipulation that you have to transfer 800 k annually. So just "topping up" each year should be sufficient and / or parking it in CDs will do as well.

[QUOTE=Franciscass;2274354]It really is difficult to understand the thinking behind requirements for retirees. Surely it should be no more than can they adequately support themselves while they are here. How does it matter whether remittances are monthly quarterly or annually or if a retiree has say 10 million up here owns his or her own property why shouldn't that be adequate. Seems to me they want to make it more difficult for this demographic to live here. Why?[/QUOTE]The requirements for the retirement extension have not changed. It's still 800 k deposit, 65 K income, or a combination of the two. The only thing that has changed is the 65 k has to be deposited into a Thai bank account. Compared to the Malaysia my 2nd Home program, the requirements here are still quite low. There are other places that require less, Panama for instance, but many places require more. Another option is to buy a Thai Elite Card for 500 k which gives you a 5 year visa and other privileges. Marriage visa is another with 400 k, 40 k income, or a combination of the two.