twix38

So how am I receiving a rate of 69.9741 TODAY, inside Thailand, when withdrawing funds out from a UK bank via an ATM in Thailand? This is an online UK account with an ATM associated card for withdrawing currency worldwide from my UK, GBP account.

Surely the UK Bank should be giving me the offshore rate of 65/66 and not 69/70 as they are?

Does anyone really know what is going on as it seems not.

Not necessarily, what I found offensive is that you made a protracted and very public rebuttal of Topfield's efforts here when his sole objectives seem to be to provide current information and add his interpretation - but I think you probably understood that. I think you probably also understand that Topfield may not be a certified IFA but there again there is no legal requirement for him to be so in Thailand.

This is a web forum. Any rebuttal will necessarily be public

But chiang mai, chiang mai . . . relax. This is all it is . . a webforum. I'm not attacking a person, just a cyber entity who chooses to use the word topfield to post his posts in cyberspace. I'm sure he cares as much about my scepticism as I care about his .. ummmm. . . expertise.

Thank you for understanding what I understand. I wish I understood as well as you.

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Dear Bendix,

You wrote this morning that it is 'offensive' to say there is a dual rate for the baht

"There is no dual rate policy. The BOT is as baffled as everyone else what is going on"

Sorry but is this a quote from Alice in Wonderland ?

At this very moment the rate for the pound on Yahoo Finance is : copied and pasted :

Symbol British Pound Exchange

Rate Thai Baht Bid Ask

GBPTHB=X 1 Jan 29 65.408 65.408 65.408 65.464 Yahoo Finance

At this very moment the rate at Bangkok Bank is

GBP United Kingdom 69.20 71.04 69.92750 70.10250 70.78500

If there is not a dual rate system operating , then I will eat my hat and if its offensive to politely point out the truth then we are clearly all living in a dream world or is the The Emperors clothes which do not exist ?

I'm a bit (rather) confused.

I am in Thailand.

Say I want to convert from GBP (Pounds) to Thai Baht. I am told here that the offshore rate is around 65 and I use the Nationwide Building society in the UK. So, via an ATM in Thailand I can withdraw and get a rate at nearly 70. I get the onshore rate from an offshore building society/Bank?? I have no problem with withdrawing Thai Baht at an ATM and converting using my UK account online and receive today's Nationwide rate of 69.9741

If there is no devaluation then I am keen to bring in more GBP into baht at this rate, as above. This seems to be opposite to what is being said generally that the offshore rate is around 65?

If there were to be a devaluation how would that effect both those expats with funds already in Thailand and also those expats with funds in their home coutries currency, like GBP for me??

My guess is that those already here with funds in Baht will find that their assets are worth less, but in relation to everything else on a par and those with funds in GBP for instance will see a much better exchange rate. What other factors am I missing, please?

I can exchange at virtually 70/GBP and don't see a major problem, so I am clearing missing a vital piece of the jigsaw or am I?

where has the cost of the Dowry been included?

Thought, but not certain that there was Gold and a Dowry usually paid

Thaigene2,

So, you are now able to buy large Condoms in Thailand.

No wonder Thai men are getting jealous of your prowess

I would invest the money and keep most of it in your national currency.

Running a business here with the culture differences, corruption, bias towards Thia's, visa rules, difficulties in business set up and costs and difficulties getting money out later if you wanted to makes for a very uneven playing field and often a stressfull struggle. Many don't make it and loose a lot. Do you want to be poor for the sake of finding something to do?

I expect your chances of failure and regret to be fairly high. Never invest more than you are willing to loose. As the saying goes. How do you make a small fortune in Thailand. Answer, start with a big one.

Invest the money and actively seek to find something to occupy your time, safe in the knowledge that the capital you worked so hard to accumualte is relatively safe. Then you can enjoy your life and if you are motivated it is possible to find hobbies or charity work or ?? to keep you occupied.

At the very least go into partnership and half your cost risks. Make sure it is with a savvy and sincere partner. Not easy to find.

I would love to start a business, but reality is that it is a big risk....MUCH BIGGER THAN REALISED AT FIRST!

Many fools are parted from their life savings in Thailand because they need something to do!

Just back from Bangkok with my Chinese visa.

Can get it on the same day when asking for a RUSH visa.

Need 2X 2 inch passport photo's, Application form, Baht 3,000(just under as visa fee and rush fee), and of course your passport with completely blank page (no blank page = no visa). This for a dual entry 6 month visa. Of course can get single entry and multiple. Apparently multiples not issued if first visit to China.

Get off BTS at Asoke station (Sukumvit) and get on underground train to Phra Ram 9 (Rama 9) station (better to get off here than the "Thailand Culteral Centre" stop usually stated on general websites for the Chinese Embassy as you don't go to the actual embassy). After exit walk down road towards Tesco Lotus and it's on the same side of the road. Not the actual embassy, but Building AA, 2nd floor. Opens between 9am and 11am and can return to pick up passport at 3pm the same day, if asked to do so.

Check 082 245 0088 (other numbers usually a recording) in case embassy closed Otherwise not much point ringing embassy really as rude man may answer 1 or 2 questions and then hang up or only get a recording. My 2 emails were never answered either. Process was easy and straightforward. At 9am the doors are opened and everyone rushes up the stairs to take a ticket and wait.

Can get application form off internet at www.chinaembassy.or.th and choose English (found it loaded quicker this way)

This is all 100% accurate as I just went this last Monday, 4 days ago.

From Pattaya to Bangkok and back in 1 day by bus with an early start, all done.

.

.

Apparently multiples not issued if first visit to China

Not true. I got a one year multi entry at first time of trying.

I did have an invitation though from a Company based in China, that may make a difference.

Yes, of course that did make the difference.

Most people made a conscious decision to circumvent the law and particularly the spirit of the law deliberately and knowingly.

When asking about property it is immediately obvious and clear that a foreigner cannot own land. It is the very reason that the company scheme work around (cheat) is used in the first palce.

If you are right minded there must have been at least a small alarm bell ringing! Rather than just being a simpleton and looking at what Mr Jones had done down the road. Maybe he's jumped off a cliff now!

Therefore anybody doing it and having a brain cell or 2 will be aware that it is not really allowed and this is a way to do it by circumventing the law and as such there is a risk to it.

So, it follows that in the future, you may have to take the consequences of your own actions because you are responsible for them and any resulting financial loss.

It is not meant to be smug, but to ignore this plain fact misses the core and principle point in this discussion. You knew (or should have) what the risk was, what the law was (and still is) and what the company scheme was needed for and why.

Once this is understood any purchaser has made the decision to take on the risk and may have to accept the outcome.

I refused to take the risk even when all estate agents and lawyers stated it was common practice and fine. Fine for their business maybe, but REALLY not fine.

It is true, without being smug, that the risks were clear and the future outcome clearly unknown. Nobody could have had their head that far in the sand not to know the reason for the company scheme that they were entering into and hence the risk it may potentially pose in a 3rd world country at some later date.

Some people (Daveb1)need to wake up to reality.

Nevertheless I have the utmost sympathy for yet another fleecing of foreigners allowing themselves to become the victim in a previously accepted corrupt practice allowed by the authorities to continue knowingly for years until big business tipped it over the edge.

Just back from Bangkok with my Chinese visa.

Can get it on the same day when asking for a RUSH visa.

Need 2X 2 inch passport photo's, Application form, Baht 3,000(just under as visa fee and rush fee), and of course your passport with completely blank page (no blank page = no visa). This for a dual entry 6 month visa. Of course can get single entry and multiple. Apparently multiples not issued if first visit to China.

Get off BTS at Asoke station (Sukumvit) and get on underground train to Phra Ram 9 (Rama 9) station (better to get off here than the "Thailand Culteral Centre" stop usually stated on general websites for the Chinese Embassy as you don't go to the actual embassy). After exit walk down road towards Tesco Lotus and it's on the same side of the road. Not the actual embassy, but Building AA, 2nd floor. Opens between 9am and 11am and can return to pick up passport at 3pm the same day, if asked to do so.

Check 082 245 0088 (other numbers usually a recording) in case embassy closed Otherwise not much point ringing embassy really as rude man may answer 1 or 2 questions and then hang up or only get a recording. My 2 emails were never answered either. Process was easy and straightforward. At 9am the doors are opened and everyone rushes up the stairs to take a ticket and wait.

Can get application form off internet at www.chinaembassy.or.th and choose English (found it loaded quicker this way)

This is all 100% accurate as I just went this last Monday, 4 days ago.

To Bangkok and back in 1 day by bus with an early start, all done.

Now maybe I am a soft touch and I would agree that a psychiatric assessment must be done before release and his general behaviour whilst inside for years should also give a fair indication of mental faculties.

However, IF and it is a big if, you believe his account, then I am personally glad that he does not rot in Jail and most/all of his subsequent actions were out of stupidity, shock and self preservation. There was no premeditation.

I can well believe his account of the Thai or more likely Laos/Cambodian lady going crazy and this guy being attacked as she was scared and they could not communicate. Perhaps wrongly I look at her many tatoos as a bad sign in itself.

Now nothing excuses murder. However this was manslaughter and he admitted guilt. If his story and sorrow is genuine, then I don't think he should be locked away for the rest of his life, as there is certainly an element of doubt as to who caused the incident, who attacked first and the actions of a guy who may not be the brightest spark, but not necessarily a danger to others if mentally stable and you believe his story.

I am not smug, but buying land through a company scheme has always been illegal and a method to circumvent the meaning of the law. As such it was always open to later and retrospective enforcement and action.

No matter how many estate agents and lawyers stated that it was fine. It clearly was technically illegal and therefore putting your funds and home at future risk.

For this very reason, I chose to by a Condo in my own name and to ensure the bulk of my funds are based abroad. (in pounds, for me). In principal I refused to take the risk.

I mention this only as a warning to others. This latest enforcement will certainly be followed by others or new laws in different areas (like visas). We are guests here, where the playing field is not level and disadvantages us. Our money is sought, but not us. Our prescence is often sought for financial gain and we benefit too in different ways (weather, cost of living and women).

The rules still apply.

Don't bring more into Thailand, especially for investment (property/business), than you are willing to loose.

To make a small fortune in Thailand, start with a big one.

Existing rules effecting foreigners can and do get changed and, as anywhere, if you find a work-a-round, be prepared for possible trouble ahead.

Even Condo owners in their own name are not immune if laws are changed, zenophobia takes off or another military coup (maybe even after this one settles down)!!

What will happen when the King dies? There is much uncertainty.

Thailand is for Thai's to benefit and foreigners to holiday (short or long term) but not often for foreigners to really benefit.

Thank you very much Tompa

For those of us who can't read Swedish (I confess, I am one), was there any more detail?

For instance as he must have served a year or so by now does that mean 4 years left?

Presumably he will not have to serve the full term either, so may be out in a couploe of years. I did have some sympathy with his circumstances,assuming his account was true that is.

SO, ARE WE STILL EXPECTING THE FINAL VERDICT THIS tHURSDAY, 30TH nOVEMBER OR HAS THERE BEEN ANY MORE NEWS SINCE?

Will we get a follow up from the Pattaya press?

Agree Libya115,

Sorry to hear those sorry tales, but not particularly surprised.

Anyone going ahead with a venture like this after reading the general tone of advice clearly has had a large dose of early insanity and wants to test everything to be seen as a shinning star amongst the fallen angels.

Chance of overall and enduring success. 3% was trying to be encouraging. LOL

Thanks guys

Something to check out and to consider.

All other experiences, advice and recomendations appreciated

Just give me your money and I will tell you how the bar failed and you lost all your savings and still owe a bit more with suppliers, key money and corruption/protection payments. If I used the money to buy a premises, then I can leave you with the running costs until you find another mug!!

At best, after a short while it's stressfull, unprofitable or put out of business and an unltimately unrewarding experience and at worst you are dead or single again and broke.

I don't understand what makes anyone willingly throw GBP 15 - 20k away along with a solid relationship. This is no business to get into for a prosperous future, no matter how appealing it sounds from good old Blighty.

I put your chances of success, profitability and happiness at less than 3%.

Sorry, but you need to wake up to the Micro and Macro, business and cultural dynamics of what you plan. I guarantee a time will come when you think to yourself "this was a mistake". Well within year 1!!!!!!

Having seen and avoided the Indian salesmen on Beach Road (their products may be wonderfull but the sales pitch leaves me cold), I wondered if anyone could recommend a good quality Tailors shop for a work/business suit to be made to order in Pattaya?

This excerpt taken from the report

"When asked yesterday if he was aware of what he had done, Mr Leahy replied: "Yes, and I am so sorry. You should have known what happened the night before.

"My girl and I had a discussion . . ." he continued, before being stopped by police."

Well it would be nice for the full story to get out. Can't see it changing too much, but it certainly is NOT being fully said or being allowed to be said, so far??

Thanks, that seems to bring us up to date. Possibly between 5 and 10 years jail and vedict due around 30th Nov.

Indeed the girl was covered in Tattoos and probably not the sort I would care to frequent with, as best as I can tell from what little information we have.

I do agree this was in no way pre-meditated and appears to be a crime of misunderstanding and self defence which went too far and with both parties.

I must thank the Pattaya People for their hard work on a follow up with the court case appearance over 2 weeks ago and endlessly repeating the story on TV. The paper reminds me of trash, sensationalist reporting with the occasional headline to get you to buy the paper that is shown to have exagerated and deceived on reading the article inside and a duplicate of news on the TV station, so you already know 80% of it if you have watched their TV station.

I suspect that most people would have had trouble with this girl, although few would have ended up strangling her to death, but if she was attacking repeatedly then you never know how it will end. Clearly he could have done better. However, if it happened the way Mr Erikson informed us, then I would be happy for him to get a manslaughter sentance, most of which he has already served by now. He appeared to be genuine and remorsefull in his TV testomony.

thanks fishsauce,

I saw a detailed account by him on Pattaya People TV and I then read that he was due in court about 2 or 3 weeks ago now.

I wondered what the hel_l happened in court as this was meant to have been followed up by the "tabloid sensationalist" Pattaya People newspaper or TV. I looked at both and nothing at all on the promised court appearance outcome or verdict?

meg_ken2003,

I started a thread to ask the question and wondered about your viewpoint, as you seem rather knowledgeable? Perhaps best to post on my new thread

Thanks

has anyone heard an update on the Swedish guy who picked up a girl along beach road and killed her in his room. Then fled to Bangkok befre getting an email from a friend and returning to Pattaya. He was featured on Pattaya People TV in giving a detailed story of what happened.

I read that he was due in court about 3 weeks ago and I can't believe it, but nothing has been reported since. Did he get a sentance? What happened?

It seems that the Pattaya People paper and TV just stopped reporting for all their bravado about keeping us informed.

I did fel a bit sorry for him, but it was murder at the end of the day.

has anyone heard an update on the Swedish guy who picked up a girl along beach road and killed her in his room. Then fled to Bangkok befre getting an email from a friend and returning to Pattaya. He was featured on Pattaya People TV in giving a detailed story of what happened.

I read that he was due in court about 3 weeks ago and I can't believe it, but nothing has been reported since. Did he get a sentance? What happened?

It seems that the Pattaya People paper and TV just stopped reporting for all their bravado about keeping us informed.

I did fel a bit sorry for him, but it was murder at the end of the day.