What recent changes affect bank account opening for visa-exempt individuals in Thailand?

@Todd ********

AND proud of it 🙏💪 BTW, your reply’s are spot on DJT suporter answeres/reply’s when they are faced by the truth🙏

@Heikki *********

not sure where you are getting the DJT connection?

Just check out his page, it’s not trumpy

You seem to be very angry

Calm down

@Tim *********

well just check his reply’s and you see the ” nasty” coments, quite funny . Not angry person, just the oposite actually. Kind of enjoy teaching him there are other ways to get retirement visa than LTR visa program which 98% of expat visitors do not have economical prerequisites, and doing yourself is really, really easy;

Documents to be submitted

1. Application form

2. Copy of applicant’s passport ( front page + all pages w earlier visa/extensions)

3. Evidence of income such as a retirement pension, interest or dividends; and/

or

4. Account deposited (saving / fixed account) certificate issued by a bank in Thailand and a copy of updated bankbook (depending immigration office update/certificate same day or 1-3 days earlier)

5. Copy of Rental-/lease agreement or Yellow book copy

6. All copys must be signed by applicant ( blue pen)

@Heikki *********

you just don’t get it

People don’t want to put money into a Thai bank

If paying an agent $500 a year to avoid that doesn’t make sense to you it’s because you don’t get economics

For $30k USD (to make it simple) you can get at least 4% a year, or $1200 from US banks

For Thailand you would get less than 1%

So why would you advise people to have a Thai bank account?

Your step 4 is what an agent can help you avoid

Sorry you do t seem to get basic economics

@Tim *********

he simply cannot grasp the economics or value of time. And obviously has zero experience or knowledge about agencies. Raving on like a lunatic about how 'easy peasy' it is to send over funds from home nation, invest at 0.5%, stand in line every year at the bank to gather documents, then do the same for immigration every year.... telling guys doing it the easy way to 'relax and enjoy' lol. Dude has absolutely no clue. As the weird DJT comments demonstrate

@Todd ********

I want to personally thank you for opening my eyes and showing me exactly what I have been looking for

Less than $500 a year to not only avoid the lines and BS you always have to deal with, you Make Money this way

So really, thank you as I know what to do now

With the dollar being so weak and the baht so strong, I don’t want to transfer any funds at all right now

@Tim *********

oh, i really get economics, believe me. I just give you an option as 65K retirement/intrest or divident income monthly is enough for 1 year visa extension, or 40k if one is maried w thai. And you can keep your money in US account, do not forget your international wire transfer fees and Thai bank fees for your money transfers. Everyone does what fits one best. ALL my friends and acquaintances have Thai bank account, and i mean All. Why, it makes their daily life easier! do shoping or whatever you and pay everything everywhere by using Scaned QR code for money transfer from one’s account to sellers account, works everywhere here up to 99%! No need for debit/credit card, if you need cash use ATM

”cardless withdrawl”

Easy peasy, just relax and enjoy🤪

@Heikki *********

Yes, we agree. a chimpanzee can do it. And many of them do. But the 'problem' you seem unaware of, is the basics of finance. 800,000 in the bank somewhere pays at least 5%. (i make 7.75% on fixed income) which would result in 40k baht in annual interest gains. An agent renewal costs about 14k. So that leaves 26k (at least) in your jeans every year and you didn't waste a single second of your retirement life standing next to Jeremy in lineups. And 'people watching' at CW.... because there is nowhere else to people watch in BKK. We know that doing it yourself is easy, it's just not financially very smart.

@Todd ********

where can I get 8.25% on fixed income? I'd love to have that

@Phil *************

Mexico! And I also believe very close to that in Cambodia. 8.25% (ps - just verified and I’m actually 7.75% now) is the current annualized rate on a 180 day, government backed, term deposit. Interest rates have been between 6.75 and 9.5% for the last 6 years mate

@Todd ********

actually you do not need 800K in Thai bank, you can also use 65K/monthly retirement ( or other) income to support your Retirement visa economical requirements. I have a

”special” fixed and

”locked” account for this purpose. I can use 250K of this all year around and account allways has 800K balance. Today i’m married with thai so it’s 400K or 40K monthly retirement or other income ( from abroad). You can also use combination of monthly income from abroad and your thai account balance so that you reach 800K/400K

@Heikki *********

actually if you had planned ahead for retirement, all you need is $80k annually and you have a ten year residency visa. But if you couldn’t sort yourself out over 45 years of working, you will need to jump thru the hoops you describe.

@Heikki *********

and you don’t get paid much interest at all on that $800k

@Tim *********

I make 7.75% right now. So can anyone.

@Todd ********

that is why you change to monthly income method.

@Nick ***********

I am not sure you understand

Thai banks pay little to no interest

If we round up to 30k US, 4% gives you $1200 a year that you make on that

In a Thai account, you get much less than 1%

If you do a million baht you can get 1.5 to 2%

As to a license, I am on a tourist visit and I got both my Thai car and moto license

So while it seems you do t mind losing money, others prefer to make money off their money

@Tim *********

so you are on a tourist visa and used an agent to get it. That realy is a joke because all you have to do is turn up and you get 60 day visa exempt. That really is a joke. And I like spending money that's why I went to monthly payments ASAP. That released my 0 baht and I put in another 0 baht and bought a new car.

@Nick ***********

oh look, it’s everyone’s least favorite dickhead

I did not and have never used an agent to come to to Thailand over the last 30 years

So swing and a miss Mr Moron

Sorry you flunked out of high school

@Nick ***********

agreed! for anyone capable of the 65k method, it is the BEST answer

@Todd ********

so you pay an agent 14k a year and you don’t have to have any Thai bank account at all? Clue me in and sign me up

4% is easy and 5% is possible

So would rather not have Thai bank account

But I DO want to be totally legal

@Tim *********

you still need a Thai bank account, for a 12 month extension based on retirement, even if the agent helps with the financial side of things, because the bank statements need to be in your name.

@Tim *********

I clearly DO realize don’t I? I’m the one NOT putting my money in a Thai account at less than 1%. That would be silly wouldn’t it.

Yes paying the agency 14k annually makes your 800k problem go away. The owner of this page is one such agency.

Reach out to them for absolute clarity on your situation

@Todd ********

but you get other problems like not being able to get a residence certificate from your local IO to buy a car or get a DL or get your stamp transferred to a new passport. Trust me my life has been a lot easier since I got my extension myself and last time I entered with agency visa at BKK I was instructed to do it myself next time.

@Todd ********

thank you, PM sent

@Tim *********

they will give precise numbers and explanation.

@Jeremy *******

your life would have to be awfully mundane to call standing in immigration lines an ‘adventure’!!! But sounds like you have found your niche in the 'save a few nickels' line. 🤣🤣😂. If I need people for this some year, how about if i pay you 300 baht every year to stand in line for me? Saves you a few more satangs and the added advantage of some more people watching at CW.