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topfield
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Posts posted by topfield
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Finally as for the RIGHT of wealthy Thais to use foreign currency to buy properties overseas willy nilly despite rigorous exchange control laws , you have clearly forgotten that UK residents were under UK exchange control laws for 40 years and were not permitted to do this freely and had to pay a huge premium to obtain so called 'property dollars 'even for their small apartment in Torremolinas
[The Exchange Control Act 1939 is still on the Statute Book.It was in fact never repealed but only suspended by Mrs Thatcher]
Toppy, while we are at it, can we repeal the 1971 Immigration Act so I as an Australian citizen can go live freely in the UK without restriction. Maybe then we'd also like re-introduct the Commonwealth immigration act while we are at it as well.
My point is, it is a bit useless for me, an Australian, to own property in the UK when I'm never going to have to right to live there, which is the case for 99% of the worlds population.
Stop the world....I want to get off!
Dear Ozzie billy bong,
Did you not know.....houses in the UK have been rising in value by about 25 per cent a year so even if you dont find an English or EU wife which will give you the right to live there permanently ,you can always invest in a few properties...and earn big money !
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The answer is simple.
Cost of a visit visa is 3,750 baht ( see Visa fees)
Visa application centre handling charge is 425 baht plus 7% VAT (See this page.)
There is no reason why an applicant should pay anyone any more than this.
For the avoidance of all confusion , it should be noted that Consular Fees are laid down in sterling by Parliament through Statutory Instrument .
The Embassy then fixes an exchange rate which may be up to ten percent more than the going market rate .
At the moment the rate for the pound outside Thailand is around 65 but inside Thailand it is around 70 baht to the pound The fee cannot be paid in sterling but can only be paid in Thai currency and only a bankers draft is acceptable.This can be bought at an outside bank or at the application office in Rajdamri .
If the baht fee seems unduly high, this is due to the current dual exchange rate operating in Thailand at the moment .
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They probably would not marry two foreigners without the relevant AFMs.Not so fast ! Are you sure a Thai Amphur would permit a legal marriage of a foreigner if he or she does not produce the Freedom to Marry document stamped by the relevant Embassy ? It's s clear from the postings above the Lao Embassy would never stamp such a document for the wife. True or false ?But as we are talking about a fiance visa to the UK so they can marry in the UK, the point is irrelevant.
Not if their aim is to get married which it clearly is !
Anyhow if the girl has no passport clearly marked valid for the UK, (have you seen the girl's Lao passport or a photocopy thereof ?) no marriage visa possible to enter as a fiancee. Furthermore without the correct documentation from the Lao Embasssy how do you know a Registrar would marry the couple in England ? Please post a link on the documents required by the Registrar of Marriages as you appear very knowledgable on the subject of Lao-UK marriages and clearly are very experienced in dealing with Lao nationals.
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Friends ...you all missed the point.
32 inch lcd tv : But what model ..as they usually have this size with models from pure crap to top quality.
Therefore you MUST get the model no. if you want to check it out.
NB did you not notice on the Amazon site the model was an HDTV set..the one in Lotus wasn't
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This evening Sontee Limtongkun raised this issue on ASTV and Channel 11 to launch a ferocious attack on the Thai Finance Minister and the Governor of the Bank of Thailand.
But was K.Sontee being fair ?
he wasn't fair but just plain dumb. as you mentioned correctly "reserves" are held in foreign currency and not THB. no central bank holds reserves in domestic currency! fluctuations of reserves any central bank holds result in book losses or book gains.
perhaps Khun Sontee should lend his crystal ball to the BOT as a guide in which currencies to hold reserves in future.
DR NAAM I agree with you 100 % . What you say is 100 percent correct in my view.
Basically where the baht strengthens the BOT'S losses will be higher. Where the baht weakens the losses will be less. ...Should the baht weaken substantially then the so called losses will turn into profits in baht terms. .
So if Sontee wants to see a fat profit on the BOT's reserves all that's needed is for the Thai economy to nosedive and go into free fall with bombs and unrest in the streets. And that's surely NOT what he wants.
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If a wealthy Brit wanted to spend 4 or 5 million pounds on a house in Thailand, he would have no problem doing so.
TH
OK...i've just sold my five bedder in Kensington , please explain how I , a Brit with an English wife can legally acquire my new country estate in the suburbs of Bangkok and hold in my name. [please note the word estate ie a couple of rai of land.] Awaiting your reply with baited breath !
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I'm truly not sure if this violates forum rules. I could see how it may, so I'll keep it as simple as possible. I live in Thailand and have a Slingbox running in the US. If you're not familiar with them go to http://www.slingmedia.com. Anyway, I've got a second one available for anyone interested in watching live US TV. It also has a TiVo (DVR) attached to it, so you can record all of your programs for viewing whenever you like (helpful given we're 12 hours ahead of where the Slingbox is. For those interested, it's New York television (Long Island). The picture is great...no lag after the first 10 seconds or so of buffering. If you're interested PM me and I'll allow you 24 hrs to check it out yourself, to see if it runs nicely for you. Note: you'll need an ADSL connection to see it. Again, TV forum moderators...if this violates any rules...just close it. Thanks!
Funny I posted something similar several times with regard to the UK where we have a 32 channel free service called Freeview but not a soul replied ! If it works for you from the States it SHOULD work from the UK !
Any Brits reading this ?
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Just like to add that if you REALLY don't want to go alone into the interrogation room...oops interview room in my experience they have always allowed one's solicitor to attend and also permitted tape recordings where requested in writing prior to the interview.
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If you can show that, on the balance of probabilities, the relationship is real and that you do intend to marry each other and settle indefinitely in the UK then you should be able to get a fiance visa for her.
You will also have to satisfy the maintenance and accommodation requirements, but if your mum is offering to do this for you that should be ok too.
Have a good read of the following:-
Guidance - Husbands, wives and partners (INF 4)
Chapter 9 – The maintenance and accommodation requirements
And for how to apply:-
People should normally apply to the embassy in their country of residence. She is not legally resident in Thailand, only a tourist visa, but as the Bangkok embassy deals with visa applications from Laos I cannot see why she should not be able to apply in Bangkok.
Not so fast ! Are you sure a Thai Amphur would permit a legal marriage of a foreigner if he or she does not produce the Freedom to Marry document stamped by the relevant Embassy ? It's s clear from the postings above the Lao Embassy would never stamp such a document for the wife. True or false ? as have never asked an Amphur about Lao nationals marrying nor dealt with such a case .
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Yesterday the Assistant Governor of the Bank of Thailand announced at a press conference a loss in the value of the official reserves of Baht 174 billion ( saen tjet see pan laan. ).
This evening Sontee Limtongkun raised this issue on ASTV and Channel 11 to launch a ferocious attack on the Thai Finance Minister and the Governor of the Bank of Thailand.
But was K.Sontee being fair ? Due to the recent strength of the baht the value in baht terms of the foreign currency held by the BOT had dropped dramatically. Each dollar bought last year for 41 baht for example is now worth only Baht 35.75
Should National banks be blamed if their currency strengthens ??? Surely not.
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On the subject of land prices, i would imagine the price of land in silom or sukhumvit is still exponentially cheaper than in, say, Mayfair or Westminster so your comparison doesnt work.
On the issue of UK exchange controls. . . umm . so what? Different countries have different laws. Get used to it. What exactly is your point? That you would like all countries to have exactly the same laws . nice in theory, but it isnt going to happen.
Why consistently rail against things that you can't change and don't really matter that much?
Isn't it time you went to write another email to Nationwide, advising them on their global strategy?
..of course you are right but the reply reminds me of my history teacher at school who used to go through my essays word by word looking for something, anything, to criticise.
Long live free speech and freedom of opinion but I challenge you to find even one line in the above posting which was not factual .
And it just cannot be right fair and just for a wealthy Thai to be allowed to buy top grade property in London but for a wealthy Brit not to be allowed to do the same in Bangkok !
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On Shore Vs Off Shore rates.... if you are on ground in thailand - the rates TV are providing are quite correct.
http://www.bot.or.th/Bothomepage/databank/.../exchange_e.asp
Sorry to disagree but the rates offered at the banks are those quoted by the Bangkok Bank via the Bangkok Post web site which i believe T.Visa used previously.
That is if you are " on the ground " and changing at the local exchange facilities :-
GBP United Kingdom
Buying Rates Selling Rates Sight Bill TT Bill-DD-TT
68.69, 70.53, 69.42000, 69.59750, 70.27750
I have used the current recommended T.Visa site several times recently and found it mis leading regarding actual over the counter exchange transactions.
These transactions are the ones most relevant to on the ground members and consequently are not factual to actual ex. rates. given over the counter.
Hence the confusion IMHO of course.
Perhaps it would help if they were made applicable to the above which after all the majority of people need to refer to.
E.G. Basic baht exchange rates as quoted by the B.Bank. and applicable to the majority of transactions.
My most recent visit was this morning where i found once again the rates from the recommended site were out of sinc. to the pound / baht rates.
Incidently my last overseas transfer was related to the B.Bank quotes as per F. E. Rates and NOT the T.Visa site. ?
Quoted from the following url :-
http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm
marshbags
You are both right......and wrong
Right as yes the rates published by the major Thai banks are the only true source of information as the banks concerned with put their baht where their mouth is and deal at those rates, unlike the TV info rate sheet .
Wrong as the rate sheet is as ephemeral as the wind with replacement rates sheets up to 12 times a day.
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The first thing I would do is sort out the TIT nonsense whereby half the ministries are encouraging foreigners to bring foreign currency to Thailand and having all sorts of controls to stop money leaving the country and thus strengthen the baht while at the same time the other half , the BOT in particular are trying to keep it out, using draconian methods, to prevent the baht getting too strong !
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If only you people scratching their head about the seven percent rate dfferential on the baht knew how lucky they were !
Travelling to Zimbabwe ? The ( official )rate on Bloomberg is 488 Zimbabwe dollars to the pound. When you get to Harare its nearly 10000000 ( ten million ) to the pound on the open market !!
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The practice is called dynamic currency conversion (DCC) and Spain is the country where it is most prevalent . In fact due to commission charges on exchange at banks one can sometimes get an equal or better rate through DCC , but not in Thailand.
Nationwide B.S are waging a campaign against this practice and have issued a leaflet to their cardholders and posted a warning on their website. Visa also mentions this practice on their website.
Other banks and cards ignore the issue. Full marks to Nationwide
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Jeez - they buying a house in the UK ?
It'll be funny when they go to the local supermarket and meet all the Thai wives working there...
Aren't there supposed to be exchange controls in Thailand ? If people can export huge amounts of cash like this whats the point in having the controls ?
Also please remember there are at least two indictments overhanging this woman
1. regarding tax fraud for hundreds of millions involving her housemaid and brother Banapot
2. her purchase of land for a song on Ratchada Pisek road.
Note to all expats :
We expats are not allowed to buy a house in Thailand........why should she be permitted to buy a house in London ? By the way the press are now reporting the price to be Bt 300M not Bt 200M !
Why shouldn't she be permitted to buy a house in London if she wants to, and has the money? The laws of the UK allow that to happen; sadly for us the laws of Thailand do not allow it to happen (with the exception of the allowances when one invests 40 million baht here).
Isn't it obvious to a financially astute guy like you WHY different countries have different laws regarding land ownership? A government's role is generally to protect the status of it's people; if the Thai government allowed unlimited land ownership to foreigners, every rai in the country would be snapped up by relatively cash-rich foreigners taking advantage of cheap land prices, the price would rise and it would basically disenfranchise the local population.
In the UK, land prices are very high. The same risks do not exist.
Similar land ownership restrictions apply in just about any poor country that is popular with foreigners - Thailand, Philippines, Indonesia etc.
And quite rightly so, in my opinion.
My goodness, cheap land prices around here ? If only they were ! Clearly you have not been following property prices in Central Bangkok , especially in Silom and Sukumvit area where prices are sky high.
And yes this is exactly the sort of property Toxin wants to buy in London !
Also it should be noted that Brits wanting to buy at the top end of the London property market HAVE been driven out by wealthy foreigners with prices driven up by Russian billionaires / tycoons,etc yet the UK government has not banned the sale of such properties to Thais !
What hypocracy ...Toxin as Prime Minister and quasi-dictator prevented rich falangs buying their dream house in Sukumvit with his laws which he could have altered with the drop of a hat ( as he did with the media ownership laws in Thailand when he wanted to sell out t to Singapore) and now has the audacity/ cheek to buy up similar property not only in London but Sydney and Beijing if press reports are to be believed.
Finally as for the RIGHT of wealthy Thais to use foreign currency to buy properties overseas willy nilly despite rigorous exchange control laws , you have clearly forgotten that UK residents were under UK exchange control laws for 40 years and were not permitted to do this freely and had to pay a huge premium to obtain so called 'property dollars 'even for their small apartment in Torremolinas
[The Exchange Control Act 1939 is still on the Statute Book.It was in fact never repealed but only suspended by Mrs Thatcher]
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I withdrew 10,000 baht on Tuesday 20th 2007 and received the rate below:
Visa Debit Card: Offshore British Bank. (GBP)
THAI FARMERS B/ROYAL GARD
TH 10000.00
XR 67.4764
The intra-day trading range was (GBP) 65.7-69.7 so I think I got a fair deal (I was expecting a possible 64.)
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How come something fishy going on...
A friend got 69.7 on that day. Are you not mistaken ?
Today the rate not much changed ......see from Visa official website :
"Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on February 21, 2007.
1 British Pound = 69.76 Thai Baht "
"My bank states quite clearly that I get 2.75% less than the true rate."
However: If that is the case I should have received an XR of 67.8416
Unless I was processed a day later?
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"My bank states quite clearly that I get 2.75% less than the true rate."
Dear Friend,
Since N/W uniquely has NO CHARGES WHATSOEVER you must have used the card of a different bank.
Barclays ? Natwest ?
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Jeez - they buying a house in the UK ?
It'll be funny when they go to the local supermarket and meet all the Thai wives working there...
Aren't there supposed to be exchange controls in Thailand ? If people can export huge amounts of cash like this whats the point in having the controls ?
Also please remember there are at least two indictments overhanging this woman
1. regarding tax fraud for hundreds of millions involving her housemaid and brother Banapot
2. her purchase of land for a song on Ratchada Pisek road.
Note to all expats :
We expats are not allowed to buy a house in Thailand........why should she be permitted to buy a house in London ? By the way the press are now reporting the price to be Bt 300M not Bt 200M !
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Would the onshore rate also be availalbe from the nationwide visa CREDIT card ? (I figure it should be but they may not be processed the same way)
Comments anyone ? Actual exchange rates from usage ?
What rates would an AMEX card give - and is there an amex card that has no charge for foreign usage (99% sure is No here...) There may be some people that use AMEX ?
Hi Khun Bob
RE N/W Credit card exchange rate : yes ..it will be interesting to know but a word of caution. In practice it will be very difficult/ impossible to compare debit & credit card rates as merchants can submit their "vouchers/slips" the following day or even several days later as the Emirate Airlines office in BKK does . Since the date submitted is not put on the credit card statement, and with rates changing , it will sadly be practically impossible to get an accurate comparison.
How often does N/W alter its rates during the day ? Dont think anyone knows. I gave an example in an earlier posting of one single rate lasting 24 hours despite huge swings on the fx market but other days the rate has changed at least twice and possibly even more often. Any ideas on this ?
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I just received an email from Thai Visa, offering yet another Thai Visa white label promo in which they have branded TV on an affiliate website. This time, seems Thai Visa are offering exchange rates.
I just checked it out, and it seems this new TV site is way off other exchange rate sites. Way, way off. Have I missed something here?
For example;
Based on GBP to THB;
http://www.x-rates.com/calculator.html
65.73
66.18
http://www.oanda.com/convert/classic
66.20
All similar rates….. But then Thai Visa states;
69.53
Again, forgive me if I have missed something massively obvious – but is that not very unreliable info TV is printing?
Best
SKO
Hi TV Admin & readers ,
When the TV baht fx rates list came out a few weeks ago , I foretold the misunderstandings and headaches this would cause and suggested that a unique baht/currency exchange list be posted lising BOTH offshore and onshore rates. This has not happened !
Well the above posting is only the tip of the iceberg with vast majority of readers scratching their head in confusion and disbelief. Perhaps TV should reconsider the format of this list and if its to be an onshore baht only list, with a note explaining why all other websites outside Thailand show completely different rates !
Thanks
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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.
Yep i missed that one - but to be honest I didnt do the research myself - could have read the T&C's and called to ask. Is a shame as it would have been useful to have an alternative ATM withdrawl to nationwide.
I know it doesnt work for the nationwide credit card - they are quite stiff and expensive over credit card atm withdrawls outside of the UK.
I need to explore the cap one ig24 card (i think that is what it is called) and the hsbc current plus account...
There is an austrialian credit card, that when in credit will allow fee free withdrawls from ATM's but i'm not sure in non aussies can get it...
With respect to the original poster i have thought of some more options :
Open a joint account with your relatives in the UK at nationwide - that way they can pay your cheque in and you can withdraw from an atm in thailand
Allied irish have one of the highest interest paying offshore IOM accounts at the mo. You could send them the cheque and gain good interst tax free then wire (for a very reasonable price) to your thai bank account at a frequency suiateble to you.
Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore.
As a side Nova Scotia bank look interesting but I'm not sure how a non canada resident/citizen can get an account with them...
Thanks for that Kun Bob ...very interesting. Can you give a little more info on the card yoiu refered to as ig24 please.
Re Nationwide Credit card you are dead right ...but did you know that a few years back they were also fee free where in credit but changed their terms and conditions ? It was then I stopped using ATM's with them but for hotel bill , car rental payment they are still excellent with same exchange rate as Debit card I believe.
Final comment : you wrote
"Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore."
Again you are on the ball K.Bob ...N/W International do indeed offer almost immediate fee free transfers to and from N/W B.S UK so its worth having an a/c with them also.
All I know at the mo is that it is not advertised very much at the mo and you need to be earning over £50K to get it.
Still, see some of my other posts today on the Post Office card as it may be better choice than Nationwide for both Credit Card and ATM withdrawls - which is contradictory to the post i didnt see. Still no one posting actual experince of it use in Thailand though, as far as i am aware...
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Hi K.Bob,
That IG24 card you refered to...did a google search on it and found nothing. Plse check your spelling of this card and confirm its exact name and who issues it.....many thanks
By the way some new info for non UK taxpaying UK expats who use the N/W Debit card in Thailand.: they should keep their spare cash with N/W International Isle of Man ! Why ? Almost instantaneous free transfers to N/W BS and thus to Thailand using your Debit Card. They revealed they have a terminal in Douglas which permits immediate transfers.
However it is not as quick the other way...2 days probably because of UK tax regs trying to keep the onshore UK pounds separate from the offshore pounds.
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I withdrew 10,000 baht on Tuesday 20th 2007 and received the rate below:
Visa Debit Card: Offshore British Bank. (GBP)
THAI FARMERS B/ROYAL GARD
TH 10000.00
XR 67.4764
The intra-day trading range was (GBP) 65.7-69.7 so I think I got a fair deal (I was expecting a possible 64.)
.........................................................................
How come something fishy going on...
A friend got 69.7 on that day. Are you not mistaken ?
Today the rate not much changed ......see from Visa official website :
"Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on February 21, 2007.
1 British Pound = 69.76 Thai Baht "
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Some good news (actually some of the best news I've heard for a while) today
I called Post Office Credit card today and the Irish customer service girl I spoke to, who knew her stuff, stated that if the Post Office credit card has a positive balance then there would be no charges (PO refer to it as a cross border fee) and no interest would be payable (as the account is in credit).
This is incredible, as if true, then it gives an alternative to the Nationwide Flex account.
As I have mentioned, the card that was used for me in Italy had a very good euro rate. The exchange rate used is set by mastercard international.
Now how do the Visa and Mastercard rates compare ? This would enable us to compare the NAtionwide Visa Debit cards and the Post Office credit card (in positive balance)
Note this appears to work the same as the Austrialian Wizard credit card that has been mentioned on TV.
If anyone is using the Post Office card in Thailand would really appreciate to hear from you - both for purchases and cash advances and ATM usage...
Cheers
Got some more details and will post later - is a bit late here in the UK...
Dear friend Bob,
Congratulations ! You have indeed cracked one side of the cost equation...that was the position with N/W Credit cards until they changed their rules a couple of years back, but what about the other, just as important factor ?
THE EXCHANGE RATE THE P.O WILL GIVE !
Firstly is it competitive and without 'currency loading' as they call it, and secondly under the current dual rate system will we lose the extra 10 percent approx we are getting from the Nationwide Debit Card ? They can call it what they like..wholesale rate or whatever but it does indeed direcftly equate to the current onshore subsidised rate...(for as long as it lasts ) ?
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Can anyone offer any advice on a cunning plan I have?
Money in my Thai account is from abroad so free to take out of Thailand right?
Take out say 1 million baht. Fly down to Singapore and sell for 33.8 equals 29586 dollars.
Fly back to LOS and pay back into my account at 35.9 equals 1062137 Baht.
Take off flight and there is an easy profit of at least 50k Bht.
Feel free to discuss.
Illegal to take more than 50K out of the country in cash. Cash would seized and you nicked. Bad...
However, this was the basis of me asking if anyone had a note of the rate achieved by using Thai card in UK at ATM, would I get the offshore or onshore rate? Then I could peicemeal "empty" my Thai account and change back in cash when back here...
Great question bkkandrew...lets hope someone holding a Thai bank card sends in a reply as to the rate given when his card used for a withrawal in the UK....70 or 65 (approx)
As for edwinchesters posting above , have checked actual rates in Singapore. By illegally taking out a million baht one can make a profit of 16.000 baht . So is it worth the risk of confiscation and imprisonment ? How long can the subsidised rate remain with such clear possibilities for illegal note smuggling ? It would be sad for all expats living here to lose that wonderful four baht per pound spending bonus we are currently being gifted by K.Tarisa because of a handful of crooks. Agreed ?
Laos Girlfriend Pregnant! Help!
in Visas and migration to other countries
Posted
Sir, Thank you for proving to everyone that you are rude and bad mannered and infringe the rules of this forum which clearly state that all postings must be polite and well mannered. It is astonishing that you haven't received a caution from the Adminitrators for breaking forum rules
Anyhow more important is how to assist this gentleman and his Lao lady. Have you seen a copy of the Lao lady's passport as the British Embassy would not accept an application unless the passport was in order and valid for travel to the UK . Indeed most Lao citizens use a travel document and not a full passport for travel to Thailand.