One other advantage of what I described above is that the U. S. Social Security Admin has designated CFSB as a Direct Deposit bank for your monthly Social security benefits. This works for any government, military or private pension fund.
Example - an American who gets the Wise Borderless Account gets a Wise sponsored limited use checking account at at Wise Partner Bank (usually the Community Federal Savings Bank NY NY. (CFSB). You are issued an Account number that begins with 8. You get sent the CFSB ACH Routing Number (Automated Clearing House. This means that anyone in the USA who needs to Send you money can do so with a super simple and cheap ACH funds transfer to your Borderless Account Bank. The neat thing about this is that as soon as the money clears CFSB - the funds automatically enter your Wise Borderless Account. You are sent signals and emails that the money has arrived. You then go online or use the Wise App and SEND the money to any Predefined Recipient Bank or Wallet that you have defined anywhere in the world - Thailand, etc.
If you opt for the Wise Borderless Account you can pause the money flow - then split the funds into parts sending some to 2-3 different Predefined Recipient Banks... (anywhere in the world - even to a bank back in the Home country.
it is not a literal, statement... it just means that Immigration keeps tying up much or most of the 800,000 Thai Baht again year after year... Most Expats who use the 800,000 cash in the bank method just give up trying to use any of the 800,000 baht in a given year due to the restrictions of NEVER falling below 400,000 at any time in a given Retirement year. Too much hassle... so in a way - they never see the money again (figuratively) or for all intents and purposes
I am sure you believe you make sense but first study English 2nd learn how to use Google to ask about the Thailand Social Security Department being part of the Ministry of Labor.. This will get you going in a correct direction
Has anyone tried Google or duckduckgo asking about info on Thailand social security department? Or is the Thailand Social Security Department a division of the Ministry of Labor?
