that's how I understand it. So for example 60,000 a month income would be 720,000 baht per annum. So you need at least 80,000 baht in the bank to get to the magic 800,000 baht.
he didn't get fleeced as this law has been around for over 20 years. Like so many laws it's often not enforced and then out of the blue some official learns about it and starts dishing out fines. You have 24 hours to inform immigration that you have returned home from a hotel but most don't and never have