U.S. Embassy to stop providing income letters Jan 01, 2019

[parrot]

semperfiguy ......."Since the US Dollar exchange rate is down to 32.95 baht, were I to take my USD and change them now for the equivalent of 800,000 Baht, I would theoretically lose nearly 87,000 Baht given that I could leave my Dollars in my USD account and change them at a later date when the exchange rate gets back to it's most recent high of 36.50 Baht."

Do you know something we don't know??

[semperfiguy]

semperfiguy ......."Since the US Dollar exchange rate is down to 32.95 baht, were I to take my USD and change them now for the equivalent of 800,000 Baht, I would theoretically lose nearly 87,000 Baht given that I could leave my Dollars in my USD account and change them at a later date when the exchange rate gets back to it's most recent high of 36.50 Baht."

Do you know something we don't know??

No, but I'm optimistic that the rate will go north at some point in time. As long as my funds remain in US Dollars, the exchange rate can go south all it wants and I'll never lose a single Baht unless I give up the wait and cash them in. I just pray that the rate improves before I croak so I can make the exchange and not have to leave my wife with the task of trying to figure it all out. That in itself could be a huge disaster if you know what I mean!

[pipoz4444]

Re "No, but I'm optimistic that the rate will go north at some point in time"

Does North mean from TB 32.95 heading towards TB 34 or 35?

[semperfiguy]

Re "No, but I'm optimistic that the rate will go north at some point in time"

Does North mean from TB 32.95 heading towards TB 34 or 35?

Correct. I should have used different terminology. North is more Baht for my USD and south is less.

[pipoz4444]

Re "No, but I'm optimistic that the rate will go north at some point in time"

Does North mean from TB 32.95 heading towards TB 34 or 35?

Correct. I should have used different terminology. North is more Baht for my USD and south is less.

I wouldn't hold your breath, too long. Getting to TB 33 to the USD and staying above it, is proving to be a challenge for the Baht. As to getting back to TB 36 to the USD, I just can’t see that happening, in the next 2 years.

My view is that if the Baht does slide anymore from where it is today, the best it will ever do is to reach between 33.50 to 33.99 to the USD. Just can’t see it breaking through 34? , not unless there is a major uplift in the US Economy and that too, seems to have reached its Peak or a catastrophe in Thailand.

So anywhere above TB 33, I would be grateful

pipoz4444

[sometimewoodworker]

Re "No, but I'm optimistic that the rate will go north at some point in time"

Does North mean from TB 32.95 heading towards TB 34 or 35?

Correct. I should have used different terminology. North is more Baht for my USD and south is less.

Given that under current incumbent is Making the US debt great again so it's forecast to get to 22.7 Trillion by the end of 2019 and that isn't taking into account the trade war that is adding a significant cost.

Thailand doesn't have a national debt and it's surplus is continuing to grow.

Unless the position reverses don't hold your breath.

[FrazeeDK]

Thailand most assuredly has a national debt.. Right now it is about 151 billion dollars.. Its current budget has a deficit of 12.7 billion dollars. Now in their favor their foreign reserves are over 20 billion USD but that is far lower than in recent years... Their debt to GDP is nearly 42% at this time..

[FrazeeDK]

the issue that will affect the baht to dollar exchange ratio is indeed the U.S. debt and the U.S. interest rate increases from the Fed.. When the Fed raises interest rates even its small 1/4% (called 25 basis points) that means that U.S. Treasury Bonds also pay a higher return. That attracts large buyers of those bonds. Recently investors were cashing out their Thai holdings to buy U.S. Treasuries.. That drove the dollar up a bit..

[sometimewoodworker]

Thailand most assuredly has a national debt.. Right now it is about 151 billion dollars.. Its current budget has a deficit of 12.7 billion dollars. Now in their favor their foreign reserves are over 20 billion USD but that is far lower than in recent years... Their debt to GDP is nearly 42% at this time..

True a nice small number whilst the US was at 105.4

[LoneTraveler]

So, does this plan work:

Embassy Outreach visit to Udon in Nov 2018, get a income letter that's good for 6 months (covers annual visa renewals thru May 2019).
Open a Thai Bank Account and deposit the monthly required amount starting next month, Nov 2019 you'll have 12 months of deposits to meet requirement.
That leave those who renew their visas between Jun - Oct 2019 in a grey area. Assume they could renew their visa in May, along with opening bank account / depositing requirement next month.

Anyone in a position with contacts at Udon Immigration that can ask if this plan meets their requirements?

You will not get a definitive answer on this question at the moment.

At the moment the only definitive way to ensure your extension of stay after June next year is to have the lump sum in the bank. To repeat at the moment there is no definitive way of accepting deposits into a Thai bank for any amount to prove income.

If you get something in writing from the immigration office that is the only thing that you can trust, word-of-mouth is as valuable as the area used for it.

What about monthly direct deposit to Bangkok bank of social security funds, that should provide proof of income? I will ask next time I go for 90 day. Has anyone used monthly deposits of government pensions to extend visa?

[ladda3904]

I do not understand why the US Embassy will not accept easily verified income. For example: Annual Social Security Statements, Military/US Government retirement statements. I understand not wanting to examine every pension/401k and other plans.

[Peter USNR]

This is not the US Embassy doing. This change is being done by the Thai Government and the Embassy has no say in the matter

[tomboy]

Visited Udon Immigration last Thursday and they told me that this has nothing to do with the Thai Government or the Thai Immigration and they are happy to receive these income letters from the British and US Embassies.They have reported this matter to the Head of Immigration in Bangkok and told me something will be sorted out the beginning of next year.British and US Embassy informing citizens a pack of lies.Many expats rely on these letters so I hope they can sort this out pronto.

[pf-flyer]

I received the E-mail listed below on the 26 from [email protected]. Just as stated. The Royal Thai Government
requires " actual verification of income " to certify visa applicants to meet financial requirements for long-stay visas. The U.S. government cannot provide this verification and will no longer issue the affidavits.
*******************************************************************************************************************************
U.S. Mission in Thailand to Cease Providing Income Affidavit

October 26, 2018

Bangkok, THAILAND

As of January 1, 2019, the U.S. Embassy in Bangkok and the U.S. Consulate General in Chiang Mai will cease to provide the income affidavit for the purpose of applying for Thai retirement and family visas and will not notarize previous versions of the income affidavit. The Royal Thai Government requires actual verification of income to certify visa applicants to meet financial requirements for long-stay visas. The U.S. government cannot provide this verification and will no longer issue the affidavits.
Please consult the Royal Thai Embassy in Washington, D.C. and Royal Thai Immigration Bureau websites for information on how to meet the requirements for a Thai retirement visa or extension.

[fdimike]

"British and US Embassy informing citizens a pack of lies"

I would be interested in knowing a little more about the "pack of lies" you're talking about.

[sometimewoodworker]

"British and US Embassy informing citizens a pack of lies"

I would be interested in knowing a little more about the "pack of lies" you're talking about.

or a monthly income of at least 65,000 THB transferred into an account in Thailand.

As no immigration official has said that this is true, at the moment it is a false statement.

[Hoopoe]

hopefully they will sort this ---- out soon enough (re- the embassy's & Thai Immigration coming up with another solution )
But i wouldn't hold your breath , i fear some unlucky people are going to get caught up in this ,the only sure way is to have the money in a Thai bank albeit 400,000 or 800,000 , think your selves lucky they have at least give an early warning, as in the past you walk into Immigration and wallop by the way there's a new regulation ,

[RLTrader]

Visited Udon Immigration last Thursday and they told me that this has nothing to do with the Thai Government or the Thai Immigration and they are happy to receive these income letters from the British and US Embassies.They have reported this matter to the Head of Immigration in Bangkok and told me something will be sorted out the beginning of next year.British and US Embassy informing citizens a pack of lies.Many expats rely on these letters so I hope they can sort this out pronto.

Hmm "Regime Change" both US & UK rank #1 & #2 in Universe? Just a thought.

as I noted in another link on US Embassy OutReach program, not updating web site with info now. Just went thru my trash for emails looking for notice for Sept "Chang Rai" visit, found none! Does anyone have this email notice? Did they go? Thinking they have already stopped these visits?

Have not receive a notice for Udon for early Nov visit! Has anyone?

Without Income letters will Not make much sense for OutReach events. Sounds easier to Mail for passport renew and for questions there is web site and email.

I see a trip to Bangkok in my very near future. Well unless they have Already Stop Notary of Income Letters. Also noticed it has already been removed from web site on Notary Services. Not mentioned at all at this time.

https://th.usembassy.gov/u-s-citizen-se ... l-records/



but it is still Here > https://th.usembassy.gov/u-s-citizen-se ... es-public/

[Giggle]

Just accept the fact you're going to have to show the money.
The Thai government wants to make sure every visitor (yes, even if you'v been here 25 years, you're still a visitor) has funds to cover hospitalizations, accidents, willful damage, etc.

Claiming to have money abroad does them no good. They can't get their hands on it.

[RLTrader]

Will guess that the US Embassy has been reading my posts? maybe thru the NSA, who knows.

But anyways I see that the Outreach event emails have been sent out and guess what?
They Updated their web site to reflec the fact

start here > https://th.usembassy.gov/u-s-citizen-se ... -outreach/

then click on Udon and
go here >https://th.usembassy.gov/consular-outreach-udon-110718/

A Big Thank You to US Embassy in Bangkok

Now if they could Fix the problem they are creating for next year? ...