@Jim **********

why not? it’s not real money, it’s funny money, digital, programmable money literally created by zeroes and ones on a computer. Also, not everybody has a private income equal to 65,000 Thai baht on a monthly basis so many have no choice but to season the money, 800,000 Thai baht every year. Way too risky.

Jim Patterson while you’re quite correct that there are a lot of very unsavory agents doing illegal business with the local immigration offices, this is only one side of the argument. You could also strengthen your argument by stating that once you go down that route, once you employ a visa agent to do all of that for you, it becomes difficult to switch back to the legal system later on, and also that agent now has quite a lot of power over you and could easily report you to the immigration police which could end up in deportation. Not likely, but definitely possible.

However, the other side of the argument is probably just as risky but in a different way. Should you decide to leave 800,000 Thai baht in a Thai bank, you are taking a huge risk that you will not be able to get access to it when you want and not lose it. It’s also possible that should the global crash happen while your money is being seasoned in the Thai bank, it could also, without your permission, be converted into a Thai Central Bank Digital Currency (CBDC) which the Thai government stated will be introduced this year e.g. 2023. (It’s currently in a pilot phase.)

Moreover, this CBDC also comes with a range of negatives, for example, that you might only be able to spend it within 4 kms of your house and it might also be only valid to be spent during a specified period of time (6 months) or expire as legal tender. This is what will happen with the 10,000 THB in digital currency each Thai person has been promised by the PheuThai party in the next election starting next week.

“The 10,000 baht is to be spent within a 4-kilometre community radius within six months during the project's early phase in a bid to attract international digital currencies.“

74/cash-handouts-spark-concern.

People need to realize that there are major changes in the global financial arena and, if you do enough research, you can find the best way to protect your income and the income of those in your family. Good luck!

Just reading through this thread makes me realize that few people understand how banking works globally nowadays. How many people actually know that when you deposit money in a bank, any bank in any country, it is no longer your money? After the Dodd-Frank act post the 2008-09 financial crisis, there were major changes in the international banking regulations. One of them is that when you deposit money in any bank nowadays, the money ceases to belong to you and actually now belongs to the bank. If you do not understand what this actually means, then you’re going to get absolutely wrecked in the next global recession, and I can tell you now that it is not very far away judging by all the banks collapsing in America as we speak. Once you’ve deposited money in a bank, you become a “creditor” to the bank and, in the quite likely event that there is a run on the bank, followed by a financial collapse (which there has been throughout history) the last one being in 2008-2009, all the bank has to give you is an IOU, nothing more. Be safe and be smart and do your due diligence which means checking everything I have said above and then acting wisely to protect your money. That means in effect is to keep a minimum of your money in the bank, any bank. You’re welcome and good luck.

@Paulo ********

you’re welcome to be as naive and trusting with your money as you like. It’s your money. It doesn’t mean everybody else has to ignore the devaluing of global currencies worldwide, the capital flight from major banks in every country and the imminent arrival of digital currencies like Central Bank Digital Currencies (CBDCs) as well as the banning of cash. If you can’t see the writing on the wall, that’s your lookout.

you are right to be concerned. Banks are falling left right and center and trillions of dollars has recently been wiped from the American banking system. As all banks are connected, it’s only a matter of time before that contagion reaches Thailand. FYI, you’re only insured for 1 million THB if Thai banks go under, and everyone will be trying to get their money out at the same time so, as a foreigner, I don’t fancy your chances that much. Remember, 50 finance companies went under in 1997 during what was called the “Tom Yum Goong” crash. Don’t think it can’t happen again. I’ve been banking with SCB for 25 years and I only keep enough there to cover bills. The same with my Bangkok Bank acc. My advice would be for you to do the same or only keep the required money to be seasoned for a visa for as long as it’s needed and then remove it. Good luck.

No you don’t need to do that. The new owner will have to register it with the documents you give him or her. If that is in a different area to where the car is currently registered, then they will be sent back to the office before the re-registration could be completed. It usually takes a couple of weeks depending upon which area. If the re-registration is being done in the area that the car is currently registered then it can all be done on the same day.

@Robert ***********

dude, you just can’t give it up, can you? If you had just used 10% of the time you’ve wasted prolonging this asinine exchange, you would’ve already transferred and received the money in Thailand by now. What an absolute cockwomble. You’re one of the reasons I don’t spend a lot of time on social media nowadays. Too many asswipes expecting you to do their work for them and getting offended when you don’t. Now bugger off.

@Robert ***********

I can’t help it if youre a Luddite when it comes to cryptos. I’m almost 60 and know my way around. Perhaps it’s tiime you caught up by actually doing your own work? Doing your own research? Instead of dissing someone who steered you in the right direction. Now bugger off mate. Not wasting any more time with a lazyass, lame and rude git.

@Robert ***********

hmm… I gave you a suggestion because you wanted one. Not a millennial by any chance, are you? Expect everything to be done for you? Get lost. And DYOR.