topfield

Allied Irish IOM - £2000 deposit - no bank charges and interest of up to 5.65% right now. Parent Co is also incorporated in Ireland which is useful if you are or were a UK resident as the UK gov is now forcing UK bank with offshore banking to disclose information on bank accounts and transactions. Currently HSBC, Lloyds, RBS and another bank have been asked to disclose following a test case with barclays.

If the UK gov think you are UK resident and you have offshore assetts, it is not good to be with a bank that has a UK parent... The EU tax directive however does not apply to trusts and companies in the EU. I understand it is still possible to acheive tax avoidance through these vehicles. However the EU tax directive is scheduled to be reviewed this year.

Be interested to hear from anyone who has a HSBC Singapore account and is UK resident - when I looked at the small print it was a bit scary !!

ANGLO-IRISH IOM paying 6.05% for one year money AND you casn withdraw 20 percent without notice or penalty

Thank you for the additional information but the rate applied by Visa

International is an independent rate calculated by Visa based on the

amount of currency they purchase from World Banks.

We are told that the rate is often favourable to the Visa cardholder.

So whilst you're information is interesting it does not apply, although

the rates might be similar.

Regards

Andrew Lock

Nationwide B.S.

Payment Services

Tel: 01793 652102

Fax: 01793 656041

//email removed per forum rules - lopburi3//

getting through to important people in nationwide is very difficult (still have the tel no above).

My pursuite to get another flex account was in vain as i could not directly talk to the underwriters (or whatever they are called) - jus got told of an unwritten policy to only allow people to have 4 flex accounts. Fine I have 5 all ready ! Still using an alernative address may allow me to do so or applying for a investdirect account from a more distant branch and a monkey cashier may give me a second instance of my identity with natiowide to get additional flex accounts...

Hi Kun Bob,

In case people are scratching their head wondering why anyone should want a dozen flexaccounts I think I have the answer as clearly there is currently a huge advantage to an investor with assets to own these multiple cards.

Kun Bob never answered when asked why on this forum but clearly the ability to carefully time ones ATM withdrawals when the rate is say, over 70 as it is a few times a week, and withdraw a hundred thousand a day can be hugely beneficial. Right or wrong....or no comment........... K.Bob ??

No , you are absolutely right Samran ! The rules were clear but the practise made a mockery of the Thai law and had to be changed .

As for the right of foreigners to own land, operate Co's and businesses that is a separate issue which will have to be dealt with at some stage.

I don't want to argue the point, just give a perspective. Please don't get me wrong.

Not sure if you mean that the issue is the law needs to be changed or that they need to find a way to get the land back from foreigners. I agree fully that the law was circumvented in many ways, but we need to look at who gained the benefit from the nominee structure. If we're talking about the land issue alone we must remember that there must always be a seller and a buyer.

Now if you look at how (the process) the FBA was circumvented in the first place, don't forget that the Commerce Committee gave permission to operate business based on the information they received during the application process. The Ministry understood this fact fully back on Aug. 15, 2006 when the DG issued an internal memo instructing officers what kind of documentation must be supplied for any application with a foreign ownership of 40 - 49%. That was their interim way of proving source of funds as an attempt to prove the legitamacy of shareholders. The committee has openly admitted that they didn't have the wherewithal to effectively control the issuance of permission under the FBA.

Finally if we were privy to the REAL motive(s) for amending the FBA, then the Gov't would have REALLY clarified the situation for the foreign diplomatic and private sector.

Anyway, it would be great if Somkid can do a good job of liaise with foreigners to gain their understanding and confidence. Now we just have to figure out the motive for his "assignment". ;-)

Oh one other thing, looking at the comments by Sondhi that he aims to regain ownership of Shin and other national assets, it might shed a little more light on the FBA motivation. Do you think?

Just a few points if I may to add some facts to the discussion

1. The UK Finance Act 1943 :

What could the relevance to Thailand be ...over 60 years on ? Well that was the law where the UK recognised there were various classes of shareholdings and that a one percent equity stake with a single vote attached could be more value than a 99 percent equity stake with no vote. The Act was passed in relation to Death Duty evasion but the principle is clear. It was 60 years too late in Thailand.

Secondly the final comment by Nontaburi re taking back Thai assets.

You should be aware that the Thaicom orbital position was allocated to Thailand by international treaty and does and always will belong to the State and NOT to Shin which had no right or power to sell it off.

Secondly all the work and material such as the satellites themselves got tax free exemption as they were recognised by the State as quasi state assets. At the very least all the waived taxes should now be paid to the State in view of the sale.

Check out this company.

Disclaimer: I am not in any way affiliated with them, but they do have some useful information on their website.

They are the experts with good service but generally double the price of any Thai Sat co.which is understandable as the owner is a Kiwi.

I'm busy getting a house built in Phuket. One thing I want to do is to install a BIG satellite TV antenna, for reception of alternative channels over the usual UBC offerings.

I'm a techie so happy with the installation and what I might be able to view. But are there any rules in Thailand which restrict the antenna size that you can use?

In the UK its one small dish and then you need planning permission for a second dish or a larger dish.

The size of antenna that I'm looking to install could be up to 6-8 metres diametre if they let me

Simon

WOW..I'd love a 20 foot dish ! Where do I buy this in Thailand ? I've fifteen dishes on my roof in Bkk but no monster. Up to very recently the largest dish any dealer had in stock was 1.8 m solid and 10 ft mesh. Last year I spoke to one well known dealer to suggest they stock larger ones and hey presto they now have a 2.4m solid at around Bt 15000. Indo seems the place for large dishes. In Jakarta 6 m dishes are common...and cheap. I think they use these to pick up the Middle East channels.

I have watched the Thai baht move from 42 to the dollar to 35 to the dollar. Logic would tell us that American goods would now be cheaper for Thai merchants to import, and of course, this being a free market, they would pass on these savings to the consumers in Thailand. I don't see this happening. Other than pure greed (my theory) is there any other reason why the prices for American imports aren't going down?

Not directly to the point but why aren't US goods sold at all in UK supermarkets ?

I am always amazed and astonished by the hundreds of US made products available in Thailand from soap to mashed potatoes at places such as Foodland and Villa .

Most IF NOT ALL of these products are quite impossible to buy in London..totally unavailable.

[With the exception of course of the PX at the US Embassy and at air bases around the UK.]

Well Thaksin had Samak cheerleading him on the airwaves so I am not surprised to see this government have Sondhi. After all everything is about marketing and propoganda. It was under Thaksin and so it remains now.

Goodness me...wrong wrong wrong.

Clearly you have not been viewing Sontee's tv progs on ASTV and now Ch 11 or reading the Manager !

A spokesman for the government ? Nonsense. Rai Sara as they say bin Thai

His criticism of the government and ministers is devastating.

Did you not hear his accusations against Tevakun the Finance Minister demanding he resign ...thats just one example.

Did you not hear his threat to restart demonstrations if the coup leaders do not step down as they had promised.

Sorry but your 6th grade wife should study and read whats going on in Thai politics before claiming Sontee is a pawn of the coup leaders.

Or, they could argue that the intent of the rules were always clear (ie that limited ownership was always the intention), and that the current changes were a way to ensure that the intent of the law wasn't being circumvented in other ways, eg through nominees.

Then, the Thai government, could play a trick so often used by the US, EU, Japan and others, that is to go into arbitration on this, a process that could drag out for years.

It will be interesting to see though what the MOC are really thinking. No doubt, they are simply creating a bargaining chip for themselves so that Thailand has a slightly stronger hand to trade away in upcoming FTA negotiations.

Hey, but I could just be plain wrong, and everyone in Thailand is stupid. 50/50 I reckon.

No , you are absolutely right Samran ! The rules were clear but the practise made a mockery of the Thai law and had to be changed .

As for the right of foreigners to own land, operate Co's and businesses that is a separate issue which will have to be dealt with at some stage.

Or, they could argue that the intent of the rules were always clear (ie that limited ownership was always the intention), and that the current changes were a way to ensure that the intent of the law wasn't being circumvented in other ways, eg through nominees.

Then, the Thai government, could play a trick so often used by the US, EU, Japan and others, that is to go into arbitration on this, a process that could drag out for years.

It will be interesting to see though what the MOC are really thinking. No doubt, they are simply creating a bargaining chip for themselves so that Thailand has a slightly stronger hand to trade away in upcoming FTA negotiations.

Hey, but I could just be plain wrong, and everyone in Thailand is stupid. 50/50 I reckon.

All that Nationwide told me was that rate of exchange they get travellers on foreign currency is the 'wholesale' rate! Which likely means its a good rate of exchange.

It sure is ..except for holders of their Cash Card ...see the posting above from markhuahin....who get a full four baht per pound less than the going rate in Thailand !!

topfield, don't you know how to use the quote and reply function? Saves you from posting TWICE for every reply you want to make.

Thanks for that. It will indeed save much time . Busy with exchange rates this week but hope to learn about this useful quote function this weekend when the markets are shut.

Once again many thanks

So whilst you're information is interesting it does not apply,

topfield, just what 'interesting' information did you provide him? I can't seem to find anything searching your posts here.

................................................................................

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I would have thought that was obvious. Just the facts regarding the dual exchange rate system and how it operates as the man admitted knowing nothing whatsoever about Thailand which he refered to as Vietnam in an email !

Its now clear his job with Nationwide is solely to investigate complaints on cardholders' transactions and that he neither knows nor is interested in finding out the way the Visa or Cirrus exchange rate is calculated

Indeed he admitted not even knowing how he would go about finding out . See below an extract from his reply in relation to that offshore rate on the Cash Card

'I've still to identify the area in Nationwide that would deal with this

because it is not only going to affect us but all Cirrus Account holders

and it might be time to exert some pressure on Cirrus."

As to why N/W Cash Card uses the offshore rate while their Debit card the onshore rate here is his reply :

"unfortunately, the Cirrus

Network is run by Master card and it is they who choose what exchange

rate to use and secondly, we have no control over how a Country or

company runs it's banking operations. "

So it seems unlikely we will ever be able to unlock the secrets of the use in Thailand of N/W's plastic and we will have to content ourselevs with the indisputable fact that, for Debit card holders anyway, the exchange rate we receive , whether in Thailand or Singapore or elsewhere , is unbeatable.

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

Nationwide allow you to open a basic account (as do many other uk banks) - this will give you what you want - you will go through the process of being credit scored - wich you will propbably score too low for a visa debit card, overdraft and cheque book - but you dont want that. With respect to address proof - perhaps your daughter can have you added to a utility bill or put entirely in your name - council tax is a good one.

Alternatively if you open a basic account with HSBC Uk which would give you cheap transfers to a Thai or Singapore based account then do withdrwals from their ATM's - only 1 thailand !

Alternatively - get your money into a UK bank account then transfer to a UK paypal account. Have a KBank account, web card credit card and a Thai paypal account. Do transfer from your UK bank account to your UK paypal account, then to yur Thai paypal account then to your KBank account and with draw at there ATM in thailand. This will impose a 2.5% charge on the exchange rate but is good value for transfers below a certain amount...

There may be one more option - the UK post office credit card - if this is in credit I'm not sure of you can do fee free withdrawls from ATM's worldwide - had a post on this topic open for months but there seems to be an uneasy silence on this topic hear - not sure if no one has done it, no one understands what i am talking about or it is being edited out by the TV Stasi (Has TV sold out or what ?)

What information did you supply ? And what was the basis for the query ?

Also who is Andrew Lock (is he v senior - if so good email address to have !)

Hi K.Bob,

Hope to provide more info in the next week as Mr Lock's reply wasn't particularly enlightening was it and am currently seeking clarification.

Sounds like it came from Alan Greenspan !!

Great, the gov't is going to get customs to do what they were supposed to be doing all along.

Indeed. In May/June '97 with the pre-devaluation hysteria there were numerous seizures of suitcases bound for Singapore stuffed with baht reported in the Bangkok Post . No doubt history is repeating itself.

Thank you for the additional information but the rate applied by Visa

International is an independent rate calculated by Visa based on the

amount of currency they purchase from World Banks.

We are told that the rate is often favourable to the Visa cardholder.

So whilst you're information is interesting it does not apply, although

the rates might be similar.

Regards

Andrew Lock

Nationwide B.S.

Payment Services

Tel: 01793 652102

Fax: 01793 656041

//email removed per forum rules - lopburi3//

'jakesideas Posted Today, 2007-02-15 14:50:36

If I had money in Thailand... How could I get the offshore rate when I send it out?

Reply simple ...send the money out in baht .

Interesting anecdote :

Does anyone know or heard of a similar situation anytime in history where a currency is worth more outside a country than inside ?

The only case I am aware of was the Swiss Franc , especially large denomination banknotes such as the SF1000 note, during World War II.

Like diamonds they could be smuggled out of countries such as Nazi Germany internally hence they were at a premium against their true exchange rate outside Switzerland. Presumabably the US $ 10,000 AND $5000 bills were at a similar premium.

A few days ago I received an E-Mail from the authority which pays my pension to say that they are no longer prepared to send it to me using the SWIFT system, their bank to my bank. They say that this is because of "very strict U.K. money laundering rules which involve a huge amount of paperwork every time we have to arrange a transfer ". They then made a rather snidy remark about this being " because you live in a place like Thailand". They propose to send me cheques through the mail instead . I am very unhappy about this, partly because of the vaguries of the mail service, but mainly because it takes up to 45 days for a foreign cheque to clear through the bank here ( at least so I am told). You must believe me when I tell that I am not a drug dealer or a terrorist , merely a simple Scottish pensioner! Has anybody else had this problem or have any advice to give me as I am very worried and upset about this.

The ideal solution is to open a N/W acoount and have the pension money paid into it. Then use their debit card to withdraw here.

Of course not everyone is in a position to do this

Scouse is 100 percent correct....done this many times.

Emirates also have cheap inclusive packages where the visa is FREE, at least when you're on route to the UK.

Finally a Co called Marharba do similar packages which include the visa.

In both cases visa collected at the Immigration desk at arrivals.

I have tried a few times to make contact with the British Embassy with regard to my girlfriends visa application but it is so difficult to actually get an answer even by e-mail from someone with a name.Does anyone actually work there behind those big walls at wireless road?,if so,why is it so difficult to contact you?I am a British citizen surely it should be a lot easier for me to ghain contact with my own embassy in that country.

Do not know about the inner workings of the Embassy nor internal admin matters ...which GU22 seems to be privy to ...but up to a year or two ago all refusal notices were signed by the ECO who made the refusal. Recently a refusal notice was issued with no signature or name on the notice.

This followed a successful appeal where the question of totally different signatures by a certain ECO was raised.

Whether it is a new Embassy policy for ECO'S to refuse to disclose their identity is a question which others who have been issued refusal notices will know the answer to but if it is a new policy the Embassy should at least quote their reference name on the refusal notice so they can be identified easily by telephone staff.

I have a UK nationwide bank account with a normal atm card, no visa or debit, and I make withdrawals on regular basis from Thai atm's using the Cirrus Network facility. Unfortunately I have been getting poor exchange rates. 65.31 baht to the UK pound yesterday for instance. It's only been for the last two weeks that on each occasion I withdraw money I am getting on average 4 baht less than the actual buying rates in Thailand. For four years prior I have withdrawn money getting the actual buying rates in Thailand give or take a couple of satang. Any one else having similar problems?

Tofield is here Bendix ...despite the continual harrassment on this forum by someone calling themselves GU22!

The answer is simple if you know !

You are using a Nationwide Cash card . This uses the Cirrus network that clearly applies the offshore rate.

Since Thursday when the pound dropped like a stone...from 1.9750 to the dollar down to 194.50 ..a drop of three US cents .per pound , the poor rate has been magnified.

The N/W Debit card on the other hand uses the Visa network has neen applying the onshore rate which is several baht per pound higher !

Before anyone asks why .....nobody yet knows ! I messaged Nationwide TWO WEEKS AGO to ask them to explain why they can use the onshore rate but as of today not received an answer !

So your solution is to obtain a N/W debit card and dump the Cash Card [ I hold both ]

A hypothetical situation:

A UK national runs a business, with a WP in Thailand, working for UK-based companies. The money earned is paid into a UK bank account and remitted to Thailand...But you spend less than 180 days in Thailand...And less than 183 days in the UK...

What would your tax situation be?

RAZZ

With regard to UK taxation only : non residency is not based on less than 183 days as you appear to think. It is a complicated subject but the general rule is 90 days per tax year is permitted with a average over 4 years not exceeding this ie not more than 360 days over 4 tax years and not more than 180 in any one tax year. Many other factors apply so this is only an advisory guideline.

Reply to 'thaddeus" / Note for Scouser

Have just seen your posting and trust I might be allowed to reply.

There were no inaccuracies whatsoever in the original posting as you claim in your posting.

The Embassy official concerned Ms Sumana Vejajiva not only wrote to say that the Amphur divorce was not recognised and that therefore the application for a marriage visa could not proceed ...a mistake that any junior local official could make , but she also added that she had the full support and backing of her Manager , the ECM , ( Gerry Grant was given as name of ECM) in this decision !

If K.Sumana was in fact lying in her claim of full ECM backing , she should be subject to serious reprimand and dismissal .

If she was telling the truth and the ECM, who is in complete charge at the Visa Section did support her contention then it could be taken that it was official Bangkok Embassy policy not to recognise Amphur divorce , even though as was pointed out to Ms Vjajiva in several emails that she was wrong in her decision on any interpretation of the law.

Sorry Thaddeus, the application was in fact dealt with almost immediately and the two months were indeed taken up with correspondence and consultation with both the Registrar of Marriages in Southport and well as the local Marriage Registrar who it seems (reluctantly) raised the matter with the Embassy.

In fact it was only by working with these two bodies and their assistance that Ms Vejajiva finally saw the light ....and her mistake ..........and the ECM must have concurred.

It is certainly true that after having accepted amphur divorces as valid in the UK, a bright spark at the visa section decided capriciously that s/he would deem them no longer valid. This was done without any apparent consultation with either the UK Visas policy section or UK Visas' legal representatives. I can confirm that the Bangkok visa section has now been told in no uncertain terms that amphur divorces are valid in the UK.

Scouse.

Scouse

Thanks for the clarification - that explains it all.

Thanks Scouse.

You have explained exactly and accurately what happened in this matter. Had we not challenged the bright spark concerned ...who by the way claimed she had the full support and backing of the Entry Clearance Manager, , mainly through the Registrar of Marriages in Southport, many other visa applicants would have suffered the same inconvenience and delay in their visa applications.

topfield

( only name used on this forum despite latest false accusation by GU22 that pseudonyns are used)