Khun Bob

Hi

Apologies if this has been asked already recently - I did a search here and it didnt really throw up that many hits.

Does anyone know where I can find info on low price condo/appartment projects, which are already completed and up to 10 years old ?

I have seen some of the Thai banks reposession listing.

Also I have come across some classified ads that have condos like this listed.

Jsut havent seen any good resources for this sort of thing.

Thanks in advance for your help.

HSBC Singapore will do it - and it is best to start by emailing them and letting them know why you want the account and what sort of money is going to be held there and what will be going through the account. However, you need to look at their charges and conditions as they seem to get you everywhere... You will need to have had a quality relationship with HSBC elsewhere to do this remotely.

However, dont overlook the Malaysian banks. They are of high quality and closer to Thailand. It is not difficult for a foreigner to open an account there. Plus you can hold foreign currency accounts that pay some ###### good interest. Eg look at Public Bank and what they will pay on GBP ! It is just as good as here in the UK ! Plus there is no 25% tax on these holdings. Also you could benefit from a 10 year visa there too !

Sadly Labuan banks, Malaysia's tax free island near Brunei, are not very internet savvy. I will be checking any banks on Langkawi soon to see if the tax free status of this island extends to interest earned on banks accounts situated there...

Am very interested in your recommendation of Malaysian bank accounts. (I know next to nothing about Malaysia in this context.) I was looking into opening an account in Singapore mainly because it has no tax or witholding, and its banks would provide an efficient service - including internet. But Malaysia I think would be a very acceptable choice for me if the bank terms were similar or better.

Do the Malaysian banks have good internet access to accounts? Do they deduct any tax or witholding from interest earned? Do they require your personal visit with docs to open an account? If you have a useful website where I can get all this info myself I'd be grateful to have it.

Do the Malaysian banks have good internet access to accounts? - just as good and at a lower cost to run than singapore - ie compare hsbc singapores costs to hsbc malaysias...

Do they deduct any tax or witholding from interest earned? Not 100% on this, but I have been told that if large deposits over 100KRM are in a term account then there would be no withholding tax - apparently regular RM savings accounts attract a withholding tax on balances of more than 100K RM. You would need to check on this. Labuan is Malaysia's offshore banking island (right next to brunei). I'm not clear if the tax status of malaysia for non-residents is the same or similar as singapore.

Do they require your personal visit with docs to open an account? All the accounts I have opened have been done in person - and it is usually at the discression of who is in charge at the time. Remotely I dont know about - but malaysia is that bit closer and could be combined with a visa run ?

If you have a useful website where I can get all this info myself I'd be grateful to have it. Just look at some of the banks websites - hsbc.com.my, publicbank, cimb, ocbc, Maybank, hongleong, citibank - cant think of any more now...

One trick to opening is by understanding the requirements for the Malaysia My Second Home programme - this use to have a requirements that 250K+ RM was held in any Malaysian bank for 1 year. You jusy say you want an account for that. Also I got one account helped by the fact that I had an account at the same bank in their Vientianne (Laos) branch - opeing an account in Laos was (may still be) very easy...

I also consulted with SCM at One Pacific Place on Suk, and had generally good impressions of them. Not quite the same type of company as Sunbelt, but not all bad.

Could you provide some more details on this provider please ?

Also any other providers people know of and comments on their experience with them ?

Thanks

Any more to add to the list ? :

Sunbelt

IsaanLawyers

SiamLegal

A guy in Silom (sorry dont have my notes at hand)

is all I have so far.

Seems that there doesn't appear to be many contenders at the better end of suppliers...

I think I could also add SamuiForSale as their website is good - what their service is like - dont know - and I am not interested in any place on or near Samui...

If you do mention a supplier, please do state their contact details and if they have provided a service to you, what your experience was.

Foreign currency accounts are being promoted by BOT and pay better than THB. However, not as good as onshore in the country of the country.

Ironic as Barclays **is** one of the Correspondent banks of Kasikorn in the UK !

Cause for complaint - maybe ? Case for compensation - why not try !

A nationwide visa debit gives you a better rate than kasikorns TT buy rate by approx 3 satang to the 1 GBP. As the thread willi2006 has highlighted discusses taking large amounts out by using the visa debit in bank - this gives you a good rate and little or no transfer fees (none from the UK side and it is not reported to be any from the thai side in the case of SCB in Chiang Mai)

If any body else has experience of using the nationwise visa debit card like this for large transfers, please do share, for the benefit of all.

On Tuesday afternoon I called Abbey International and arranged a transfer of 15,000 pounds to my account at Kasikorn Thai in Thailand. It was a 'non urgent' transfer and cost 20 pounds.

Yesterday (Wednesday), K Bank head office called me and said they had received my transfer and would be crediting the funds to my account, and was I happy with the rate of 68.44? I confirmed that would be fine (it was their posted buying rate on their internet site) and I asked if they needed me to complete any forms. They advised this was not necessary as I had marked the transfer as for "living expenses."

I have been checking the rates that were used for 2 recent withdrawals using my Abbey debit card from ATM's in Thailand. In each case the rate charged was approx 1 Baht below the K Bank buying rate on that day. That meant that a withdrawal of 20,000 Baht cost me about 5 pounds more than if had I arranged a bank transfer. So for me it's not a good way to access my money, but for smallish amounts/ emergencies, 5 quid won't break the bank.

Best interest on a THB account is to be had in Laos, where no tax is payable. Opening an account there is easy, and many forms of genuine or otherwise ID are acceptable...

Transfers of THB can be done from a Thai bank in Thailand to Laos

Interest on savings accounts is pitiful - however there is a BOT initiative to get fore foreign currency held in Thailand so it may be worthwhile looking at EUR, AUD, NZ, Hungarian, Romainian, Icelandic accounts for high interest - however offshore they never pay as well as onshore.

Still heres my list of actual experience :

kasikorn - yes

krung thai - no

bkk bank - yes

siam commercial b - yes

om sin - dont know yet - when opened not specified - didnt provide inet access

krungsri - yes

tmb - yes

reported :

siam city bank - yes

bank of asia / uob - yes

gov housing bank - yes

dont know

dahn chat bank

guess will :

jpmorgan

citibank

ing

hsbc

Any reports of other banks or actual experience ?

With krung thai I was told if I have a term account I would get interest, but with savings no...

HSBC Singapore will do it - and it is best to start by emailing them and letting them know why you want the account and what sort of money is going to be held there and what will be going through the account. However, you need to look at their charges and conditions as they seem to get you everywhere... You will need to have had a quality relationship with HSBC elsewhere to do this remotely.

However, dont overlook the Malaysian banks. They are of high quality and closer to Thailand. It is not difficult for a foreigner to open an account there. Plus you can hold foreign currency accounts that pay some ###### good interest. Eg look at Public Bank and what they will pay on GBP ! It is just as good as here in the UK ! Plus there is no 25% tax on these holdings. Also you could benefit from a 10 year visa there too !

Sadly Labuan banks, Malaysia's tax free island near Brunei, are not very internet savvy. I will be checking any banks on Langkawi soon to see if the tax free status of this island extends to interest earned on banks accounts situated there...

Nationwide is likely to be the best and simplest way - however there may be some other ways that havent really been discussed much and require more effort.

A few people on here have mentioned that there are some european banks (including swiss) that have very low charges for international transfers - something like 2/3 GBP equiv. Of course you need to then find a way to get the money into that account. But if you have a GBP account with them, there may be some free way of doing the transfer - so overall getting money sent from UK to Thailand for a couple of quid.

If anyone has any comments or actual experience on the above, would be good to share...

One of the Thai Online Bank classics was the old Krung Thai Portal, 7 years and little change - and they kept the classic "you are visitor" counter too, showing visitors from Sept 2000 :

Https://www.icorp.ktb.co.th/ibhtdocs/en_welcome.htm

Well it seems its time has come to an end... Seems like it is already dead to me.

Apply for the new one here :

https://www.ktb.co.th/CBProj/ - i think this is a bad link...

Message below :

Dear Customer,

We would like to inform you that our "New

Corporate Banking" system has been developed to meet many

customers' requirements. It is now ready to replace

current corporate banking systems. We will discontinue

"Corporate Online" and "Corporate Banking on Lotus Notes"

services on October, 2007.

The current customer who would like to apply for

New Corporate Banking system please follows the

instructions below:

1. Download and Print Out New Corporate Banking

Application Form “Click Here to Download”

2. Fill in the form (signed with corporate stamp if

available)

3. Submit application with required documents at any

KTB branches.

If you have any questions, please feel free to contact

Cash Management Product Department. Tel. 02-2087142, 02-

2087162, 02-2087145

Ok - just gone ahead and done it - and it works a treat - not bad considering I'm in the UK at the mo.

few things to be aware of :

* You need a thai mobile

* You can only set up 3rd parties that are with Bkk Bank - not able to set up 3rd parties with other Thai bank this way at the mo as far as i am aware

* When you setup a 3rd party, the name of the holder of the account will be shown - in thai script or roman (english)

* You can give the 3rd party a nick name

* You can specify the 3rd parties mobile no so when a transfer is done to their account, the mobile registered against it receives an sms - could be handy if your significant other knows your online banking details and has access to your mobile phone (unlikely, but slightly possible...), just specify your second (secret) mobile number and get notifed when several hundred K baht goes missing !

I put all the details I captured as I was activating the service below and doing a trial 3rd party setup (tis amazing what google can throw up as I couldnt add my own account, but google provided some account no at Bkk Bank - need to get my self another account there, then can keep them going with the transfer between your own accounts trick - <deleted> I hope I removed bank account details...) Anyway have fun...

Activate SMS Authentication

SMS Authentication is a way to register online for selected services offered by Bualuang iBanking. It can replace the need to register at the branch by sending a One Time Password to your mobile phone, for example - to add a new 3rd party account that you want to send funds to. Please read the terms and conditions and follow the instructions below.

Terms and Conditions Governing the SMS Service

1. If you wish to (1) use the SMS service but have not notified the Bank of your mobile phone number, or (2) change the mobile phone number from that already notified, you may contact any branch of the Bank (in Thailand) and present your identification card or passport for identification purposes, and complete an amendment form to advise your phone number or change as the case may be. The SMS service may be utilized after 5 Banking days from the date of such notification. For utilization of this service, you must type in the same mobile phone number as that so notified. Only numbers from Thai operators are permitted.

2. The One Time Password (OTP) will expire 15 minutes after the SMS has been sent to the mobile phone number notified to the Bank. If you fail to use the OTP within the aforesaid time, you will have to restart the process of the activity.

3. In case you enter the OTP incorrectly 3 times consecutively, access to this service will be discontinued. To continue access to this service, please contact Bualuang Phone at 1333 for Thailand or (66) 0-2645-5555 for overseas (7.00 am - 11.00 pm Thailand time).

4. Please be aware that the User ID, Password, mobile phone and OTP are important tools and elements in utilizing services and effecting transactions through the SMS service. It is advised that care must be taken so that your mobile phone does not fall into the possession of any other person and that User ID, Password or OTP is not revealed or disclosed to anyone under any circumstances.

5. Any activity performed through the SMS service with the use of your mobile phone, OTP, User ID and Password will be considered an activity performed by yourself.

Please enter your mobile phone number. For more information please see the Notes below.

Mobile Phone Number (Please enter your 10-digit mobile phone number as 08XXXXXXXX.)

Notes:

- Only mobile phone numbers from AIS, DTAC and True Move will be accepted.

- The mobile phone number entered here will be cross checked against the number in your Bualuang iBanking registration form or any subsequent amendments. This will be the number that Bangkok Bank sends your One Time Password to. If your current phone number is different to the number that you previously registered you will need to update your phone number before proceeding with this Activation. For more information about how to update your phone number please click here

If you decide not to activate this service now you may return to this page and Activate it later on. However if you want to close the SMS Activation Service you may click below on Block SMS Activation . This means you will not be able to reactivate via Bualuang iBanking. To reactivate Blocked SMS Authentication please contact Bualuang Phone Tel. 1333 or 66 (0) 2645-5555 (between 7.00 am - 11.00 pm Thailand time) for verification procedures.

Account Information

You can give the 3rd party account an "Account Nickname" that is easy for you to remember. You can also fill in the "Recipient's Mobile Phone Number" if you would like Bangkok Bank to send an SMS notification message to the recipient when a fund transfer has been completed.

Account Number XXXXXXXXXX

Bank BBL

Account Nickname

(Optional)

Recipient's Mobile Phone Number

(Optional)

URL's here :

http://www.krungsri.com/eng/promotion_trans.htm

Contents below :

No matter where you are , you can easily transfer funds to overseas at your fingertip.

Special Fee Rates for International Funds Transfer via KrungsriOnline - International Funds Transfer (Outward Remittance): 350 Baht per transaction - Demand Draft Purchase: 200Baht plus 3Baht stamp duty per item and 100Baht per item for delivery via certified mail (within Thailand Only).

Service Information: 1. The bank will process your International Funds Transfer instruction during working hours (8.30 - 16.30 hrs.). For a transfer instruction after 16.30 hrs., the transaction will be processed on the following working day. 2. Applicable exchange raters are based on the Bank's counter "Selling Rate" prevailing at the time of the transaction. For the transaction made after working hours (16.30 hrs.) or on banking holidays, the Bank will use the first round of the exchange rate published on the following working day. 3. According to the Bank of Thailand's regulation, you must send the supporting documents to the Bank via FAX after performing a transaction in order to verify before executing your transaction. Click here to see Supporting Documents 4. You can inquire about your transaction status at any time via KrungsriOnline. By clicking "Transaction Status Inquiry" at the menu of International Fund Transfer 5. The amount of each transfer must not less than USD 100 or equivalent and may not exceed USD10,000 or equivalent per transaction but not over USD 20,000 or equivalent per day per User ID.

Currencies Provided - 13 Major Foreign Currencies : USD, EUR, GBP, JPY, SGD, HKD, AUD, CAD, CHF, DKK, NOK, NZD, SEK - Thai Baht : Only for Transferring funds to Laos

How to Apply:

If you are already our KrungsriOnline member, 1. Go to KrungsriOnline Website and then Click "Change Request Form". 2. Click "Update Function for International Funds Transfer" and complete the Request Form. 3. Print and sign the Request Form. Send the form along with a signed photocopy of your identification document to the branch hosting your account in person or by postal mail. 4. The bank will notify you of accessibility to the service function via given postal mail or e-mail within 7-14 business days.

If you are not yet KrungsriOnline member, you have to apply for KrungsriOnline member by. 1. Go to www.krungsri.com and then click "KrungsriOnline" on the right hand 2. Clicking "Sign up"

- For Krungsri VISA Electron / ATM Cardholder, 1. Enter your "Krungsri VISA Electron/ATM CARD NUMBER" and ATM PIN number and then choose your own "USER ID" and "PASSWORD". You will have access through KrungsriOnline immediately. 2. Applying "International Funds Transfer" function in the above "KrungsriOnline member" steps ( go to If you are already our KrungsriOnline member)

- For Corporate Customer or customer who does not hold any Krungsri VISA Electron/ATM card, 1. Fill in your information and choose applying for "International Funds Transfer Function" in the application form. 2. Print and sign the Request Form. Send the form along with a signed photocopy of your identification document to the branch hosting your account in person or by postal mail. The bank will notify you of accessibility to the service function via given postal mail or e-mail within 7-14 business days.

For more information, please contact Krungsri Call Center 1572

E-mail address: [email protected]

Well just about to log in to bualuang and heres what this was all about and it is in decent english too !

They put it up as a graphic I'm afraid - any way Bkk Bank now seems to be getting with it and could start to be a contender with kasikorn for web usability (just have a work permit and use IE...)

In a nut shell you can do 3rd party transfer (maybe setup too) online by receiving a code to your mobile phone (probably got to be a thai no too....)

Any more to add to the list ? :

Sunbelt

IsaanLawyers

SiamLegal

A guy in Silom (sorry dont have my notes at hand)

is all I have so far.

Seems that there doesn't appear to be many contenders at the better end of suppliers...

I think I could also add SamuiForSale as their website is good - what their service is like - dont know - and I am not interested in any place on or near Samui...

If you do mention a supplier, please do state their contact details and if they have provided a service to you, what your experience was.

Thanks for all the good info.

It is good to hear that transfers with Barclays and LloydsTSB generally go quickly - I guess this is because they are correspondent banks of Kasikorn.

The poster who mentioned Kasikorn in London 20 years ago (I guess they were Thai Farmers then) - I searched and cant find anything on that. The kasikorn Customer Service person I spoke to was very good and knew her stuff - best watch the Thai times you call though - only in working hours !

Nationwide Visa Debit Card on a Flex account is the way to go for ATM or withdraw in branch and deposit into account. Search the forum for experience of the swipe in branch and deposit in account trick - I got more info from 1 or 2 people on here and there are a few threads on this. Also Topfield wrote about this. If anyone has a Nationwide account and is in Thailand, I would say this is the way to go as you get a very good rate and there is no sending fee, however, I dont know if the Thai bank will charge to receive. Even so it should be a small amount. Plus, it has been reported that the bank can tell you what exchange rate will be.

An alternative to the Nationwide Visa Debit card is the Post Office master card with a positive balance. No one has reported using this in a Thai ATM and if indeed there were no charges - but when I did my research on this last year I was advised that this would work fee free. **But** the account must be in credit - ie there is a positive balance - they have your money - normally on a credit card you owe the org money but by overpaying you are in credit with the org. I hope you get this. There is an Australian credit card that this works with as well.

brewsterbudgen - sorry to hear about what happened - I saw that warning too and I believe that the real reason is that the Lloyds TSB can make more money by doing the conversion locally. When I spoke to Lloyds TSB international payments help desk in London they were not aware of the dual (onshore/offshore) rate of conversion in Thailand. Suggest it may be an idea to make a thread on here - but I would suggest the UK website moneysavingexpert as a way to get good free advice for this. I guess your already doing this, but gather as much information about the event as possible, names, times, places. If the LTSB person read your instructions and advised against them - that could be something to pursue with LTSB.

Well, I think I am going to go with LTSB and transfer below $20k, just to be on the safe side as I am not in Thailand. I still cinge every day at getting my forex reports. Interesting that other people confirm that Kasikorn's TT Buy rate is 30 satang below the visa rate, which I guess is close to interbank. From the kasikorn website I can see the TT Buy and Sell rates and just take the midpoint. The problem I have is finding a good source for THB interbank at the onshore rate. Still I guess I could just compare a handful of rates published on some of the bigger Thai banks websites.

Thanks for this

Could you say what the main man's name is ?

Getting a letter from the bank will be great - do you know what the latter is called ? Also , would you be able to post a copy of the letter for many people benefit (please obsure any personal information)...

Thanks

KB

bangkok bank

I suggest you get in touch with the man in charge at the main branch of bangkok bank.

I was told I will be getting an official bank letter that will confirm the funds were transfered from my bank overseas to my bank in thailand - and this would be sufficient - along with copies of my transfer documents with the carefully written words that state it is for a specific condo purchase.

Make sure you keep and bring all documents that prove all the transfers and info to verify all of the above.

Thanks for this

Could you say what the main man's name is ?

Getting a letter from the bank will be great - do you know what the letter is called ? Also, would you be able to post a copy of the letter for many peoples benefit (please obcsure any personal information)...

Thanks

KB

bangkok bank

I suggest you get in touch with the man in charge at the main branch of bangkok bank.

I was told I will be getting an official bank letter that will confirm the funds were transfered from my bank overseas to my bank in thailand - and this would be sufficient - along with copies of my transfer documents with the carefully written words that state it is for a specific condo purchase.

Make sure you keep and bring all documents that prove all the transfers and info to verify all of the above.

Who do you know that can assist with leases or usufructs, in addition to the providers already mentioned, and care to comment on you experience with them.

TIA

Thanks for the replies - anyone care to provide examples of land taitle that are not chanotes - ie Nor Sor Saam Gor and Sor Kor Nung...

TIA

So, any comments/experience/further advice from anyone who has used lloyds or nationwide to transfer GBP to a kasikorn bank account recently - please, review some of the posts above - thanks

Care to say what the "other documents" are and, ideally, provide some examples ? This would be very useful for many people.

And you do not have to transfer a minimum $20,000U.S. at one time. If you read the above info carefully, and based on what I also know - it states that the you need this amount - but nowhere does it state that it has to be trasnfered at one time. And this is only if you want this particular form. There are other documents you can obtain. This I also confirmed from the man in charge at bangkok bank! How else do people purchase condo's that cost less?

Also PattayaParent on Bai Rap Rong :

Could you mention which Thai bank this was and do you know if you could get hold of a copy of the letter ? (please obsure any personal details). I ask this so I could show this as an example of what I would like to the Thai bank when I would like to get hold of one and if I am having difficulties there.

Thanks in advance

For anyone in or near London, with an interest in Thai history, this looks interesting and is free (which is unusual for Asia House...)

King Chulalongkorn (Rama V) of Thailand Exhibition

Thursday 20 - Wednesday 26 September at Asia House

To coincide with the anniversary of King Rama V's first visit to Europe 110 years ago, and the King's second visit 100 years ago, Asia House and the Royal Thai Embassy invite you to a special exhibition in the Fine Rooms of Asia House.

King Rama holds a special place in Thai history as he was the monarch who transformed ancient Siam into the vibrant and modern nation of Thailand today.

Works on display focus on the biography of King Rama V (1853 - 1910), King Rama V's first visit to Europe (110 years ago) and the King's second visit to Europe (110 years ago) with a special focus on his links with the UK.

Open Monday to Friday, 10am-6pm (closed Sundays)

Admission Free

Asia House

63 New Cavendish Street

London W1G 7LP

T: +44 (0)207 307 5454

F: +44 (0)207 307 5459

Thanks for some advice on the evaluatio of lawyers - at the moment I'm just trying to establish who they are and get some feedback on them.

Lease is not my preferred option at the mo - I like usufruct - but for the purpose of foreigners having access and use of land for their life time, plus a possible lease time, this has not been proven - just like renewal options on 30 yr leases. I guess you could ask, what did foreigners who wanted some peace of mind over Thai land do 35 or more years ago - now if they are still alive how have they kept hold of the land. I think then they trusted their partner or used a company shell - but really I have absolutely no idea - still time will tell on leases and usufructs. It would be interesting to see how a usufruct is recorded on a chanote or what records the land department makes about this. Seems from some other threads some land department offices are not really that familiar with usufructs and the agents (lawyers) hired give some training to them on what to do.

So, who do you know that can assist with leases or usufructs and care to comment on you experience with them...

Thanks

Great resource - but it just has the front (first) page of the land titles - any chance of having all pages, just to get the complete picture...

Land Title Documents in Thailand