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expat finances
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🚨UPDATE on third-party banking options like DeepPocket and Moreta, often considered alternatives for DTV holders without Thai bank accounts.
Be aware, online banking apps such as DeepPocket and Moreta have recently become popular, attracting many users.
However, after a surge in sign-ups, DeepPocket has altered its terms of service. Now, the QR-Scan feature is limited to 30-days and they will charge you 399THB every month for it!
Additionally, I ordered and received a Debit Card through the mail after waiting over a month, only to discover it's valid for less than a year…
So, if you believed these apps could fully substitute for a traditional bank account, think again! I strongly suggest securing a Thai bank account for seamless management of daily expenses.
I had my doubts from the start, suspecting these offers were too good to be true. Beware of these dubious apps that suddenly appear, tricking users into signing up only to impose fees later on.
Potential problem discovered today. Some immigration offices may ask you for proof your bank deposit came from abroad. Many people use online banks like Wise. But Wise send from their Wise London bank to a partner bank in Thailand, and then on to your bank. So your deposit's code in your Thai bank is not from abroad. Immigration can therefore make this an obstacle - that needs overcoming - to get your visa. Note: not all offices or officers ask for this apparently.
UPDATE: According to others, it seems this problem has been solved by Wise giving an option to send "funds for longstay". If, like me however, you sent the funds before this option was available, the problem remains. You will most likely have to resend the funds from abroad. My local office will not accept the Wise (funds sent) statement as proof.
Has anyone else gotten this request and what did you do? I don't have any money just sitting in my bank doing nothing, it's all in stocks. If I sell 500,000THB of stocks and deposit into my bank will they accept that? Seems like a ridiculous waste of time
Concern's about new taxes imposed on imcoming proceeds from my country THAT I HAVE ALREADY PAID TAX ON &
worked hard all my life to earn.
Hi to all, Angela here , i am a brand new group member. I am a semi retired middle aged Australian trades-woman. I am not wealthy but what little means i have i worked very very hard for. Indeed no man ever gave me a razoo cent nor did i ever ask.
Having been to Thailand 3 times over the last 15 yrs i have often considered retiring there.
Now i am not so sure 🤔. I have recently learned that the Thai Gov have audaciously proclaimed they will tax the income &/ or in my case incoming disbursements of my own hard earned money into a Thai bank account.
I have already paid tax on my own money 🤷♀️in Australia. There is no way i am going to abide supporting such a Yak hyde of a policy. Ned Kelly wore a helmet when he rorted ya but they intend to so so with a straight face 😮.
I would really value some honest opinions on the new tax policy for retiree's before i consider Thailand as a retirement destination, 🤔🤔 Kind regards Angela