The regulations say, “In order to open an ordinary checking or savings account, Bank of Bangkok requires that I get a notarized letter from the US Embassy in Bangkok, stating that I’m a US citizen and that I reside in Thailand at a certain address. The Embassy requires an appointment and a $50.00 document fee, not including the cost of transportation to and from Bangkok, or a hotel and meals. And there’s no guarantee the bank will even accept it.”  R. Butler.

Thailand Retirement Concierge clients, of course, do not have this problem, since we act as your guarantor.

This video shows just how infuriating it can be:

New money-laundering regulations require you to establish and prove permanent residence before you can open a Thai bank account. You can imagine the Catch-22 situation this creates: how can you pay the deposit on your new place if you don’t even have a bank account?, More at paydayloansmonster.

We’ve struggled with this since the regulations came into effect and now, with the help of our angelic bank manager, have created a completely legal process that allows Concierge clients to open their permanent account as soon as they arrive.

We go to the bank together and you’ll have your ATM card and bank book when you leave. Best of all, apart from signing a few more forms, it requires no effort on your part: we’ll be waiting with the completed forms as soon as you step off the plane. Here are some simple steps that will make opening your Thai bank account a breeze:

• Except for businesses, checking accounts are not generally used in Thailand. Thailand Bank Accounts are structured a little differently, like everything in Thailand so, when you ask to open an account the bank will open a savings account without even asking you. The administration of bank accounts and the security procedures are slightly different, too, so here’s a brief primer:

  

• When you go to the bank, take your passport, your permanent Thai address and Thai cellphone number
• Joint accounts are very difficult, so get the account in one name and then get two ATM cards. Trust me, this is the better option.
• You will have to pay for your new (chipped) ATM card. Cost is up to 1,000 baht, depending on the bank.
• Ask for online banking while you’re opening the account. The bank officer will usually not suggest this (don’t ask me why) which means you’ll have to go back again later if you don’t do it on the spot.
• Ask the bank officer to show you how to navigate your Thai online account. They’re set up differently from those at home but work quickly and well once you’ve mastered the interface
• The bank will give you a savings account passbook. Don’t make the mistake I made and throw it away or lose it. Passbooks are extremely important in Thailand and are used for all major withdrawals. So keep it in a safe place.
• Update your passbook regularly. It’s your legal proof of transactions and balances. There are Passbook Update Terminals alongside most ATM transaction machines at all bank branches. When you correctly insert your passbook they will read your account number from the barcode on its cover. Ask your bank officer to show you how to use it before you leave the bank. Then use it at least once a month, and after every significant deposit.
• When you get home, start setting up online bill payment accounts immediately, so you don’t forget how to use the interface. You can pay all your regular bills online. The easiest are your Internet and cable providers, and your cell phone provider. If you haven’t opened those accounts yet, remember to ask for their online billpay account name when you’re setting up the account. Otherwise, you may need to call their customer support line to get that information and enter it into your bill pay account. You’ll only need to do this once.
• I use (and strongly recommend) Bangkok Bank. This is a link to their online banking which, once you learn the interface, is a fast and convenient way to pay all your bills. As with all things to do with banking in Thailand, the trick is choosing a bank manager. My guy works miracles for me and for clients…
• If receiving payments from a US Government Agency: Download the “Direct Deposit Sign-up Form (SF1199A)” from http://www.socialsecurity.gov/online. Complete the form to sign up for Direct Deposit with your relevant US government agency and include information which are your name and physical address in Thailand; your bank account number and the name and address of your Bangkok Bank Branch in Thailand; 9-digit routing number 026008691 of Bangkok Bank New York  Branch. Complete a “Direct Deposit Service Application” form, which you can pick up at any Bangkok Bank branch (except micro branches). You can also choose to fill out an SMS Remittance Alert Service Request Form to receive an SMS notification on your mobile phone when funds have been successfully transferred into your Bangkok Bank account.
  Submit all forms to Bangkok Bank with the following supporting documents:
  Identification Card/Government Official ID Card/Passport together with a customer identification document such as your Social Security Card, Annuitant ID Card etc.
  A document from the relevant agency giving evidence of your right to receive the payments.
  After verifying your documents, Bangkok Bank will submit your application to the government agency, asking them to approve your request to receive the funds via Direct Deposit.
  After the request is approved by the US Government Agency, your payments will be electronically deposited directly into your Bangkok Bank account.
• International Fund Transfers for Americans: Bangkok Bank ACH (Automated Clearing House) transfers from the US via their NY branch will end April 1, 2019 and online US ACH domestic transfers will no longer function after that. Bangkok Bank says this will not affect existing Social Security or other federal government direct deposits. The Bank says that, after April, Americans should use an online banking facility called IAT (International ACH Transfers), though no one seems to know of any U.S. banks that currently provide consumers online access to IAT or any U.S. banks/CUs that have announced plans to support it for consumers. Stay tuned and we will let you know as soon as we know more on this. In the meantime, for transfers of $3K or less, Transferwise puts more baht into your Thai bank account when  both exchange rate and fees are deducted.  For larger amounts use an International Wire/SWIFT. Charles Schwab gives you free transfers of $1000 per day and has modest fees, $25, for wire transfers.
• The Bangkok Bank account must be one that is not accessible by ATM so you have the hassle of going into a Bangkok Bank branch each month (any branch is OK, not just your home branch) and presenting your passport in order to withdraw the funds and move them to another account with ATM/internet access.  But, if you’re suddenly incapacitated, Bangkok Bank will visit your hospital bed and get your thumbprint to release the funds to pay hospital bills. If you’re more conscious, but still can’t make it to the hospital, they’ll give you whatever you request to pay rent, give your GF her allowance, etc. (They won’t do this if you can’t give consent, just pay the hospital bill without consent.) If you have your SS direct deposited to a U.S. account it can be a joint account, with internet access and often it’s very easy to move the money into Bangkok Bank using online ACH transfer. But, if you become incapacitated, no U.S. bank will release your funds unless a court-appointed guardian initiates the request and there is no easy way to set up a guardian for an incapacitated foreigner in Thailand.  So, if you’re using the method of manually transferring money from the U.S. to Thailand, make sure you have the process documented so that someone could do it for you should you become incapacitated.
• If you are living in Thailand, the point of contact for more information or to ask questions about SSA benefits is the SSA Federal Benefits Unit (FBU) at the US Embassy in Manila, Philippines. You can contact the SSA through the following channels: Tel: (63 2) 301 2000 ext. 9 Website: http://ph.usembassy.gov/u-s-citizen -services/social-security/.  E-mail: FBU.manila@ssa.gov
• If receiving payments from a private organization. Request the “Authorization Agreement for Automatic Deposits (ACH Credits)” form or “Related Direct Deposit” form from the organization or the agency that will be making the payment to you. Complete the form to request the Direct Deposit service.
  Open a savings account at any Bangkok Bank branch in Thailand. If you already have an account with Bangkok Bank, you can use your existing bank account for this service.
  Request your home branch to issue a bank reference letter to certify your bank account details such as account type, account number, date of account opening and current balance to be provided to your agency.
  Include your name and physical address in Thailand;,your bank account number and the name and address of your Bangkok Bank Branch in Thailand;  and the 9-digit routing number 026008691 of Bangkok Bank New York  Branch in your Direct Deposit Signup Form.
  Indicate the Routing Number 026008691 of Bangkok Bank’s branch in New York and your account number with Bangkok Bank in Thailand on your “Authorization Agreement for Automatic Deposits (ACH Credits)” form or “Related Direct Deposit” form.
  Submit the form with the required information such as your Identity Card or Social Security Card, or evidence of your right to receive the payments from the company, together with Bangkok Bank’s Reference Letter. Mail the signed form to the US company asking it to approve the request and initiate direct deposits into your account.
  After the request to receive direct deposits is approved, your payments will be electronically deposited directly into your Bangkok Bank account.You can read it here.

Thailand Bank Accounts for Australians

• Look for a credit card (Mastercard) that doesn’t charge fees for overseas transactions or a percentage of the transaction and visit loans green for monthly deals
• Make sure you pay its balance off every month so you don’t pay interest.
• Only use it in reputable locations.
• You’ll find the exchange rates between Oz & THB comparable to those offered by the major banks in Thailand
• And better than the exchange rates of the banks offered in Oz.
• Incidentally, if your Australian ATM card has a Maestro or Cirrus logo it will work with Thai ATMs.
• But Visa cash advances  attract a 3% surcharge
• For larger amounts T/T (telegraphic transfer bank to bank) is quicker but costs  $35–$100.
• For larger amounts interbank is slower (overnight) but most economical at $20 per transfer, regardless of amount.
• If you instruct your bank to send Aussie dollars (rather than Thai Baht) you’ll get a better exchange rate.
• If you’re sending more than $10,000 you can negotiate a better exchange rate with your local branch manager – if you tell him 24 hours in advance.
• If you withdraw money from an ATM in Thailand, draw at least 25,000 Baht. Your fee ($7-10) remains the same.

The post Thailand Bank Accounts appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

One of Chiang Mai’s Best Coffee Shops is Sweet Gardens, located here. These are the GPS coordinates 18.82920° 99.00616°. It’s on the second ring road towards the north side of town. Easy to miss because you’re hurtling along the freeway and can easily miss it.

Owned by a wealthy lady who uses it to entertain friends, it is located in her grounds, which has a huge lake stocked with enormous carp and over which she built a big beige, as you can see in the accompanying video:

Fahtara Coffee Shop & Spa

Here’s another great place to hang out in the middle of town: Fahtara Spa and Coffee. It’s owned by a wealthy Bangkok businessman (largely as a vanity project from what I can see), managed by a German, and staffed by charming people who prepare great light meals and some very original drinks – non-alchololic, though they serve alcohol also, of course. Here’s the map. And here’s the GPS: 18.86492° 98.96925° and here’s the video

http://https://youtu.be/VWvWlIDngbk%20

Natwat Home Cafe

Best coffee in Chiang Mai. Hands down. Opens at 7 am!! Cold brewed, organic Ethiopian – or any variety and brew style you can think of. The map.

Mamia Coffee Shop & Restaurant

On the banks of the Ping River in Chiang Mai. Long renowned for serving Thailand’s best coffees, Mamia Coffee hosts regular coffee-tasting events at which coffee international connoisseurs gather to meet prominent coffee-growers and taste their latest harvests. Thailand has 19,000 coffee growing plantations, a reputation for high-quality arabica varietals, and an increasingly discriminating population of coffee-drinkers. Drinking coffee by the river is a wonderful experience. Drinking the world’s best coffees in Chiang Mai’s loveliest riverside garden is a kind of heaven. And if you’re a food lover, you’ll love the desserts, made by the owner herself. GPS: 8.7816969, 99.0060884. Map here..

The post Chiang Mai’s Best Coffee Shops appeared first on Thai Retirement Helpers: Retiring in Thailand Made Easy.

Baht & Sold: Daniel, the expat owner of BahtSold.com designed it as a resource for individuals and businesses. Whether you are searching for the perfect home, a business to buy, a set of wheels or a stroller for the newest addition to your family – from Phuket to Chiang Mai – B&S usually has good listings.

Bangkok Post Classifieds for Chiang Mai: A traditional classifieds section from the leading English language newspaper in Thailand. Very strong Bangkok section.

CCCC Classifieds: Chiang Mai Christian Community, many of whose members are Christian missionaries in Thailand, is an excellent resource that goes far beyond its classifieds.

Chiang Mai Classified Ads: Light on listings but worth checking.

Chiang Mai Classifieds: Their website is unstable (I suspect a home server) but, when it’s working it has some unique listings.

Farang Mart: Another handy site, strong on scooters and motorcycles.

Chiang Mai Locator: A handy real estate advertising site.

Chiang Mai Mail: a re-badged Pattaya Mail site with Pattaya listings.

Chiang Mai Post: Rather weak classifieds but it’s listed here to encourage the publishers.

Craigslist Thailand: The original and still champion. I’ve had many good experiences buying and selling here.

Thai Visa Classified. An excellent resource with wide coverage and strong readership.

Make your promotion pop: Classified advertisements that use illustrations, outskirts and photographs for the most part pull in more eyes than average content just promotions. Simply check the paper – consistently there are postings that emerge from the others. Probably the most valuable elements we offer to do this are the ‘Included Ad’ and Web Graphic alternatives for your Online promotion and including a photograph (where pertinent) in Print. Additionally, keep in mind to utilize a feature that gets the peruser’s consideration.

Recognize what is imperative to individuals skimming in your characterized classification, and ensure you touch on those focuses; and utilize complete sentences – they’re less demanding to peruse than a progression of expressions and irregular words. Placed yourself in the client’s place. On the off chance that you were perusing the ordered advertisements, what might get your consideration? What words or expressions would make an advertisement emerge from the rest for you?

Quote a cost, regardless of the possibility that it’s high or low. In case you’re high, clarify why it’s justified, despite all the trouble (for instance: exceptional, extravagance thing, hand-made, and so on.), and on the off chance that it’s low, make sure to specify that it is an awesome arrangement furthermore clarify why the cost is so low (for instance: moving, snappy deal, extraordinary buy).

Incorporate a  get in touch with: Incorporate numerous types of contact, for example, a home and PDA number or your email address. Likewise, in the event that you are just accessible to answer a call amid specific hours, ensure you express that in your advertisement (for instance: call after 9pm, leave a message, and so forth.)

Determine brand names: If you are offering name brand stock, make sure to name the brand (and model, if correlated) in the promotion – specific should as much as possible. Individuals need to know precisely what it is you’re offering before they call and information should you can give, as much as possible. Consider it in the event that you are a client in a shop, would you like to know the specifics of an item or only a general thought of what it is?

Give white space access print work for you: This is an imperative format component in characterized promoting in light of the fact that the normal arranged page is overwhelming with little sort. The more “void” space in your advertisement, the more it will actually be taken note. Boxing an advertisement (including a basic outskirt around it) naturally makes white space around it, which thus consequently draws the eye.

Ask the peruser to act now: By completion your promotion with a suggestion to take action, for example, “12 hour deal,” “this week just,” or “call now, won’t keep going long”,” you include additional impetus for the intrigued purchaser to call you first.

Agenda – Every ordered ought to incorporate in any event the accompanying:

• Sale date or days and hours

• Price

• Make and model

• Size and shape

• New, utilized or reconditioned

• Service or guarantee

• Name, telephone number

• Address or bearings to area

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BY A THAI LADY LIVING IN A TRADITIONAL THAI VILLAGE – Thai dowries are often criticized so here are a few words in their defense: I’ve often sympathized with foreign men when the word “dowry” is brought up. In the modern-day Thai culture, a dowry is still common practice in wedding ceremonies. Thai dowries typically consist of jewelry for the bride to wear on her wedding day and cash for the bride’s parents. The subject of money is awkward, even for the Thai couples. But a dowry is an even bigger matter (and mess) when the groom is a foreigner. Not a single foreigner I know is comfortable parting with their hard-earned cash (generally at least THB100,000) to marry their Thai girlfriends, most of whom are from the Bangkok middle-class and obviously have no intention of deceiving anyone for money.

Whenever the subject is raised at the dining table, somehow the Thai girl is automatically viewed as a Nana gold-digger. The responses we often get from blue-eyed boyfriends tend to sound something like:

“That’s stupid. I won’t pay to marry someone.”

“I don’t have that kind of money.”

“I thought you loved me for me. This breaks my heart.” (Said in a sarcastic tone.)

When Thai girls talk money, our foreign boyfriends seem to grow earmuffs. I’m starting to think that maybe it is the word “dowry” itself that scares men. One guy even told me that the dowry is an ancient tradition that should have died hundreds of years ago. At the risk of sounding treasonous, I think he may be right, but the fact remains that the dowry still exists and is rightfully important to most Thai families.

The practice of giving the bride’s family a large amount of money was best suited to a past when male commoners had to leave their families every other month for work. In those days, when a couple got married the guy had to pay up so the wife could take care of herself and the children when her husband was away.

Somehow hundreds of years later, the dowry lives on as an integral part of Thai matrimony. The idea seems especially weird when you consider that Thai women these days often earn as much as their partners. The question really should be why these girls still ask you to pay a dowry, and why they are so offended when you refuse to do so.

Let me enlighten you. As funny as it sounds, a dowry represents your respect. Most Thais are very attached to their families and, as a result, Thai marriage is a monumental union of two households. That old aphorism, “if you marry a Thai girl, you marry her family as well” is true.

The dowry is a gift from the groom’s family and a small part of khan mark, an exquisite arrangement of Thai symbols of luck including banana leaves, flowers and fruits presented in golden trays. The khan mark is presented at the wedding ceremony, which is sacred and a chance for the wedded couple to ask their families for blessings. This means you officially ask your girlfriend’s parents for permission to have her as a life partner. Thai parents find the ceremony very important and necessary. If not done properly, it would seem to them that you’re running away with their daughter without respect.

So if you look at the bigger picture, it’s the Thai wedding ceremony that your girlfriend wants, not just the dowry. By refusing to have a ceremony you’re demonstrating that you are not willing to make things official and right for her family.

Now you might think, “In that case, I will just give her THB500. That’s my kind of dowry.”

Thais describe dowry as kha nam nom (translated to ‘cost for breastfeeding’). It is an important display of appreciation for the mother-in law. Essentially, when you hand over a dowry you’re saying, “thanks for raising your daughter so well.” The value of a dowry depends on how much the parents think is appropriate for their daughter. So it is normal for a wealthy family to ask for a more expensive dowry.

[Originally published in Bangkok Coconuts. Reprinted with permission]

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