The Sterling (gbp Thread

[chiang mai]

the article about expats in spain does indeed make dire reading , the parallels between expat lifestyles in spain and here are glaringly obvious , but at least here it is possible to make a reduced income go a very long way and to exist on very little money indeed.

but how many expats would really be able to "go native" and live on say 300b a day if things really and truly got so horrendous and bad for them...... errr , us.

i suspect that many of us would return to the uk , where our money would go further , it would be possible to work , and that , sunhats in our outstretched hands , we would approach the all encompassing and much grumbled about benefit system for a handout or three.

i'm sure that the constant and unrelenting tidal wave of bad news that is coming from the 24 hour news systems , internet , the masses of news outlets etc. is responsible for a large proportion of this crisis as the fear and panic feeds on itself and the prophecies of doom become self fulfilling.

maybe we should all just shut up and crack open another magnum of moet.

There's a lot to be said for cracking open the champagne, switching off and resurfacing in six months to see where we are. For me personally however I find the current crisis a real challenge that is not entirely unpleasant. The challenge for me is to see if I can come out of this crisis with the same amount of money or more as when it all started. So far I'm ahead of the game and I want to stay that way - unfortunately that means keeping an ear to the ground all the time, it has to be said it all very much of a learning process also.

[whiterussian]

i suspect that many of us would return to the uk , where our money would go further

HUH??? The UK has insane prices at the moment!

I can last about 3 days on a low thai wage - food, booze etc.. then its off to the ATM.

If i gave up ciggies and beer i could do it no problem (apart from rent)...

If only the UK would give us handouts here in Thailand, rather than in the UK. Save themselves a fortune!

The baht must drop. How about all us farang, nippons, and russians stage a PAD type protest? block the ports!

Actually sod it, just pray the PAD do something stupid...

Edited December 20, 2008 by UKWEBPRO

[So1DoG]

I'm moving my capital from USD to GBP, on the presumption the USD/GBP will be at approx 1.90 end of 2009, which means if the USD/THB remains at 35, then GBP/THB will be 66.5

I'll probably delay buying any substantial assets until the GBP/THB improves towards the end of 2009, and just withdraw month on month living expenses.

Keep an option open on working maybe 6 months UK/Europe each year, then 6 months back in Thailand.

I'm invested in Tulip Trend fund, its a Managed Futures fund, historically its done well in down-turns, its performance can be seen at www.trend.ky

Also, I'm invested in Brandeaux Dollar Fund, but want to switch to their Student Accomodation Fund Sterling, these funds return approx 7 to 10% per anum, you can pull up the performance of these funds on www.bloomberg.com

After the dollar weakens, and you get more baht for your pound, then I may consider large asset purchases.

I've changed 80% of my USD back to GBP.In the long run I feel its the best option.1 year ago everyone was screaming abt 2 USD to the pound now its the other way people are still screaming.

Long term I thing Sterling USD will settle abt 1.70.Thai Baht to USD abt 40,Thai Baht to sterling 66.

Thats my take anyway.

EPG.

This is a refreshing change, People talking positive for once, It may happen it may not but one thing for sure it makes you feel better.

I just finished reading currency forecasts from two different banks and guess what, they forecast GBP/USD to be 1.35 by the end of 1Q09 and by the end 4Q10 it is forecast to be 1.17. As a guide it currently sits at 1.4950 - this seems to support the longer term strategy of some others on this forum and annoyingly means that Britmaveric may yet be right after all.

Did britmaveric predict 45 to the pound?? I remember reading that and thinking never, now im thinking yes and maybe lower

[chiang mai]

I'm moving my capital from USD to GBP, on the presumption the USD/GBP will be at approx 1.90 end of 2009, which means if the USD/THB remains at 35, then GBP/THB will be 66.5

I'll probably delay buying any substantial assets until the GBP/THB improves towards the end of 2009, and just withdraw month on month living expenses.

Keep an option open on working maybe 6 months UK/Europe each year, then 6 months back in Thailand.

I'm invested in Tulip Trend fund, its a Managed Futures fund, historically its done well in down-turns, its performance can be seen at www.trend.ky

Also, I'm invested in Brandeaux Dollar Fund, but want to switch to their Student Accomodation Fund Sterling, these funds return approx 7 to 10% per anum, you can pull up the performance of these funds on www.bloomberg.com

After the dollar weakens, and you get more baht for your pound, then I may consider large asset purchases.

I've changed 80% of my USD back to GBP.In the long run I feel its the best option.1 year ago everyone was screaming abt 2 USD to the pound now its the other way people are still screaming.

Long term I thing Sterling USD will settle abt 1.70.Thai Baht to USD abt 40,Thai Baht to sterling 66.

Thats my take anyway.

EPG.

This is a refreshing change, People talking positive for once, It may happen it may not but one thing for sure it makes you feel better.

I just finished reading currency forecasts from two different banks and guess what, they forecast GBP/USD to be 1.35 by the end of 1Q09 and by the end 4Q10 it is forecast to be 1.17. As a guide it currently sits at 1.4950 - this seems to support the longer term strategy of some others on this forum and annoyingly means that Britmaveric may yet be right after all.

Did britmaveric predict 45 to the pound?? I remember reading that and thinking never, now im thinking yes and maybe lower

Brit forecast, (every day) that USD will be 40/42 Baht by end 1Q09, not GBP.

[So1DoG]

He also predicted 45 baht to the pound several months ago.

[totlanh]

I have taken ALL my GBP out of Uk and exchanged into VND,got a shit rate 25.122,however,that is going too slide more methinks and i intend setting up a business here within the next month and hence will be fully reliant on the Vietnam Dong which too be honest is in a much better state than the GBP and indeed i suspect Vietnam although will become affected by the Credit crunch will not suffer anywhere near as badly as most places and i would go as far as saying i think its well placed so im happy.....

[Chaimai]

the article about expats in spain does indeed make dire reading , the parallels between expat lifestyles in spain and here are glaringly obvious , but at least here it is possible to make a reduced income go a very long way and to exist on very little money indeed.

I would contend that there are similarities rather than parallels. The lady in the article was paying EUR850 rent on an apartment. In Baht terms that is, say, 42,500 Baht. I pay rent 2,500 Baht on a 2 bed detached house. That leaves me circa 10,000 baht per week to live on. Hibernate for 2 days to make the maths easier and I have 2,000 Baht per day.

Thailand has a long way to go in terms of of exchange rate depreciation (GBP/THB has fallen 19.6% in 3 years, GBP/EUR circa 33%) and price inflation - many European goods have increased by up to 50% whilst in Thailand such increases have been much lower. Fuel for example is now back to, or lower than, pre fuel crisis levels - in Europe prices have remained relatively high.

but how many expats would really be able to "go native" and live on say 300b a day if things really and truly got so horrendous and bad for them...... errr , us.

I think a 1,000 Baht a day would probably be enough to go native and retain a reasonable standard.

i suspect that many of us would return to the uk , where our money would go further , it would be possible to work , and that , sunhats in our outstretched hands , we would approach the all encompassing and much grumbled about benefit system for a handout or three.

I think you would last 5 minutes. Benefits will become harder to get (the Poles are getting most of them ), the weather is cr*p and your money would definately not go further.

i'm sure that the constant and unrelenting tidal wave of bad news that is coming from the 24 hour news systems , internet , the masses of news outlets etc. is responsible for a large proportion of this crisis as the fear and panic feeds on itself and the prophecies of doom become self fulfilling.

Agree 100%. Apart from government(s) ineptitude, banks' greed the next people to stand against my wall with blindfolds on would be journalists. I firmly believe that, as far as the Uk is concerned, a sharper awareness of the impending problems (which had been coming for some time) and a better reaction to them would have lessened the pain - ie taken a softer view on rates to maintain some level of property market (the life-blood of the UK), acted quicker to avoid the Northern Rock debacle etc, etc. The press with their continual doom and gloom headlines only poured fuel on the flames of the dwindling confidence.

maybe we should all just shut up and crack open another magnum of moet.

Hear, hear to that. Merry Christmas.

[taxexile]

I pay rent 2,500 Baht on a 2 bed detached house.

2,500 ????

[Marvo]

I pay rent 2,500 Baht on a 2 bed detached house.

2,500 ????

[Chaimai]

I pay rent 2,500 Baht on a 2 bed detached house.

2,500 ????

[ArranP]

I just finished reading currency forecasts from two different banks and guess what, they forecast GBP/USD to be 1.35 by the end of 1Q09 and by the end 4Q10 it is forecast to be 1.17. As a guide it currently sits at 1.4950 - this seems to support the longer term strategy of some others on this forum and annoyingly means that Britmaveric may yet be right after all.

Hi Chiang Mai,

I'm interested to read these forecasts, please can these sources be shared ?

Thanks

Regards

Arran.

[chiang mai]

I just finished reading currency forecasts from two different banks and guess what, they forecast GBP/USD to be 1.35 by the end of 1Q09 and by the end 4Q10 it is forecast to be 1.17. As a guide it currently sits at 1.4950 - this seems to support the longer term strategy of some others on this forum and annoyingly means that Britmaveric may yet be right after all.

Hi Chiang Mai,

I'm interested to read these forecasts, please can these sources be shared ?

Thanks

Regards

Arran.

It's hugely embarrassing on my part but I have misread the reports, the figures I mentioned in a previous post do NOT pertain to GBP/USD!

The reports show (really they do) that GBP/USD will start 2009 at 1.50, drop to 1.45 at the end of that year and finish the following year, 2010 at 1.54. The foregoing is based on the BOE rate reducing to 1.0 by end 2Q09. I am unable to provide links to the reports since they are hard copy received from my bankers.

My sincere apologies for any anxieties I may have caused, grovel, grovel, grovel some more....

[taxexile]

Benefits will become harder to get (the Poles are getting most of them ),

well , thats good to know.

Council pays out £90,000 a year in rent to mother of four

Abul Taher and Steven Swinford

A mother with four children has been placed by her council in a £2m townhouse at a cost to the taxpayer of more than £91,000 a year.

The stucco-fronted three-storey property is in Kensington, west London, the country's richest borough. It costs £1,755 a week to rent - a bill met by housing benefit - and has a front and back garden, five bedrooms, two bathrooms, a double reception room and roof terrace. The street is lined with sports cars.

The family, who moved into the property in September, have remained there despite a pledge by James Purnell, the work and pensions secretary, to cut back lavish housing benefit payouts. Elsewhere in the borough, five-bedroom houses are available for half the price. The case highlights the perverse nature of the housing benefit system that allows council tenants to live in subsidised properties well beyond the means of most taxpayers. Under Labour, spending on housing benefit has risen from £11.1 billion in 1997 to £15.4 billion in 2007.

Figures released under freedom of information laws revealed five local authorities where councils have paid rent to families on housing benefit at a weekly rate equivalent to more than £50,000 a year.

Chris Grayling, the shadow work and pensions secretary, said: "The government was trying to grab the headlines by saying it was doing something about this problem when in reality it has continued to preside over £100,000 housing benefit payments

todays sunday times uk.

Edited December 21, 2008 by taxexile

[MJP]

Benefits will become harder to get (the Poles are getting most of them ),

well , thats good to know.

Council pays out £90,000 a year in rent to mother of four

Abul Taher and Steven Swinford

A mother with four children has been placed by her council in a £2m townhouse at a cost to the taxpayer of more than £91,000 a year.

The stucco-fronted three-storey property is in Kensington, west London, the country's richest borough. It costs £1,755 a week to rent - a bill met by housing benefit - and has a front and back garden, five bedrooms, two bathrooms, a double reception room and roof terrace. The street is lined with sports cars.

The family, who moved into the property in September, have remained there despite a pledge by James Purnell, the work and pensions secretary, to cut back lavish housing benefit payouts. Elsewhere in the borough, five-bedroom houses are available for half the price. The case highlights the perverse nature of the housing benefit system that allows council tenants to live in subsidised properties well beyond the means of most taxpayers. Under Labour, spending on housing benefit has risen from £11.1 billion in 1997 to £15.4 billion in 2007.

Figures released under freedom of information laws revealed five local authorities where councils have paid rent to families on housing benefit at a weekly rate equivalent to more than £50,000 a year.

Chris Grayling, the shadow work and pensions secretary, said: "The government was trying to grab the headlines by saying it was doing something about this problem when in reality it has continued to preside over £100,000 housing benefit payments

todays sunday times uk.

I sympathise with your ThaiVisa name.

It has become a joke which just ain't funny. I've worked myself nearly to death (literally) in the UK. I've lived in what many would regard as dire poverty type conditions and I've scrimped and saved.

Now I am told to give up most of my savings to bail out banks I've never borrowed from, car manufacturers whose cars I could never afford anyway and for other people to live in houses I could never afford which includes any house in the UK.

Done with the UK. I won't return even for burial.

Edited December 21, 2008 by MJP

[taxexile]

the way that the self reliant and the hard working in the uk have been screwed by the government in order to prop up the lifestyles of the lazy and the benefit addicted is hard to accept.

those who provided for themselves and managed to remove themselves from that ugly society now have to deal with a tumbling currency.

life just aint fair !!!!

but thats how it is and we will just have to deal with it as best we can until the situation improves.

[MJP]

the way that the self reliant and the hard working in the uk have been screwed by the government in order to prop up the lifestyles of the lazy and the benefit addicted is hard to accept.

those who provided for themselves and managed to remove themselves from that ugly society now have to deal with a tumbling currency.

life just aint fair !!!!

but thats how it is and we will just have to deal with it as best we can until the situation improves.

Taxexile,

I need to get all my cash out of the UK whilst leaving it in Sterling. We have enough Baht to live in for a year and I don't wat to change up until next year. Barclays FX guy reckons on some wild swings in '09, so there may be a chance to get out on a spike.

Do any Thai banks offer multi-currency accounts?

[chiang mai]

the way that the self reliant and the hard working in the uk have been screwed by the government in order to prop up the lifestyles of the lazy and the benefit addicted is hard to accept.

those who provided for themselves and managed to remove themselves from that ugly society now have to deal with a tumbling currency.

life just aint fair !!!!

but thats how it is and we will just have to deal with it as best we can until the situation improves.

Taxexile,

I need to get all my cash out of the UK whilst leaving it in Sterling. We have enough Baht to live in for a year and I don't wat to change up until next year. Barclays FX guy reckons on some wild swings in '09, so there may be a chance to get out on a spike.

Do any Thai banks offer multi-currency accounts?

My choice in your situation MJP would be HSBC Hong Kong which will allow you a multi-currency account, internet access for all manner of transaction types PLUS a sound deposit guarantee. I've used them for years and it's easy to move funds around the world and exchange currencies in real time, cost effectively.

[MJP]

the way that the self reliant and the hard working in the uk have been screwed by the government in order to prop up the lifestyles of the lazy and the benefit addicted is hard to accept.

those who provided for themselves and managed to remove themselves from that ugly society now have to deal with a tumbling currency.

life just aint fair !!!!

but thats how it is and we will just have to deal with it as best we can until the situation improves.

Taxexile,

I need to get all my cash out of the UK whilst leaving it in Sterling. We have enough Baht to live in for a year and I don't wat to change up until next year. Barclays FX guy reckons on some wild swings in '09, so there may be a chance to get out on a spike.

Do any Thai banks offer multi-currency accounts?

My choice in your situation MJP would be HSBC Hong Kong which will allow you a multi-currency account, internet access for all manner of transaction types PLUS a sound deposit guarantee. I've used them for years and it's easy to move funds around the world and exchange currencies in real time, cost effectively.

Many thanks.

[taxexile]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

[MJP]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

Think I'll pop in there and have a chat.

I used to love the UK. Best country in the world, really was. It now has no sense of social justice.

[MJP]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

[taxexile]

Autosweep,

make sure you check the bank fees for all these services they (and other banks) are so quick to promote.

[MJP]

HSBC looks safe too . . . . although saying that . . . .

http://www.mailonsunday.co.uk/news/article...ndon-hotel.html

[chiang mai]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

Not to drag this out but there's a difference between HSBC Hong Kong and HSBC Bangkok, their services, charges and products are very different so make sure you look closely at both. Example, HK will let you hold and work with 13 different currencies including THB. BKK limits you in this respect, especially on the THB transfer and deposit front based on whether your account is a resident or non-resident account. Finally, and the real biggee for me, their internet banking services are miles if not light years apart with HK being far superior. I have my primary account with HK and then set up a free secondary account with HSBC BKK just for Baht and ATM purposes and that system works very well for me.

[chiang mai]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

Not to drag this out but there's a difference between HSBC Hong Kong and HSBC Bangkok, their services, charges and products are very different so make sure you look closely at both. Example, HK will let you hold and work with 13 different currencies including THB. BKK limits you in this respect, especially on the THB transfer and deposit front based on whether your account is a resident or non-resident account. Finally, and the real biggee for me, their internet banking services are miles if not light years apart with HK being far superior. I have my primary account with HK and then set up a free secondary account with HSBC BKK just for Baht and ATM purposes and that system works very well for me.

[MJP]

Autosweep,

make sure you check the bank fees for all these services they (and other banks) are so quick to promote.

Will do.

This is the first year of my life I've ever paid any attention to banking. Never had a credit card, not even a cheque book.

[MJP]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

Not to drag this out but there's a difference between HSBC Hong Kong and HSBC Bangkok, their services, charges and products are very different so make sure you look closely at both. Example, HK will let you hold and work with 13 different currencies including THB. BKK limits you in this respect, especially on the THB transfer and deposit front based on whether your account is a resident or non-resident account. Finally, and the real biggee for me, their internet banking services are miles if not light years apart with HK being far superior. I have my primary account with HK and then set up a free secondary account with HSBC BKK just for Baht and ATM purposes and that system works very well for me.

CM,

Do us a favour and post the links to the HSBC HK account you mean. I've become very confused by that site . . . which ain't hard for me and is in no way a reflection on the bank.

Yes. Why not have both accounts. Very good idea. Cheers.

[chiang mai]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

Not to drag this out but there's a difference between HSBC Hong Kong and HSBC Bangkok, their services, charges and products are very different so make sure you look closely at both. Example, HK will let you hold and work with 13 different currencies including THB. BKK limits you in this respect, especially on the THB transfer and deposit front based on whether your account is a resident or non-resident account. Finally, and the real biggee for me, their internet banking services are miles if not light years apart with HK being far superior. I have my primary account with HK and then set up a free secondary account with HSBC BKK just for Baht and ATM purposes and that system works very well for me.

CM,

Do us a favour and post the links to the HSBC HK account you mean. I've become very confused by that site . . . which ain't hard for me and is in no way a reflection on the bank.

Yes. Why not have both accounts. Very good idea. Cheers.

See link below.

http://www.hsbc.com.hk/hk/home/

The advantage for me of having the two accounts is that I do all my investments and international stuff via HK and use BKK for inward Baht transfers (same day) and ATM only.

[MJP]

i'm no expert on these things.

but the thai banks do have foreign currency accounts , gbp , us$ , yen etc.

i dont know if they are only for companies or not.

hsbc have a bangkok branch too.

http://www.hsbc.co.th/1/2/personal-en/banking/deposits

Current Account For Thai Baht (THB) and Foreign Currencies (FCY)*

As a busy executive, have you ever wished that you could spend less time handling your finances and more time enjoying life? With our current account, HSBC gives you the opportunity to do just that. Designed to meet all your financial needs, our current account offers you complete flexibility. One of the special features, Autosweep, enables you to transfer the surplus funds from your current account to savings account at the end of each day to maximise earned interest.

You will enjoy more flexibility by our automatic funds transfer back and forth between your savings and current account or through online@hsbc, Personal Phonebanking and over 900,000 ATMs worldwide. So you are always earning maximum interest.

Remarks: Foreign accounts are available in US Dollar, Pound Sterling, Australian Dollar, Swiss Franc, Hong Kong Dollar, Euro and Singapore Dollar.

If they offer this to un-busy executives like myself, we'll be, how do you say . . . quid's in.

Add to that internet banking and ladies and gentlemen, we have a winner.

Not to drag this out but there's a difference between HSBC Hong Kong and HSBC Bangkok, their services, charges and products are very different so make sure you look closely at both. Example, HK will let you hold and work with 13 different currencies including THB. BKK limits you in this respect, especially on the THB transfer and deposit front based on whether your account is a resident or non-resident account. Finally, and the real biggee for me, their internet banking services are miles if not light years apart with HK being far superior. I have my primary account with HK and then set up a free secondary account with HSBC BKK just for Baht and ATM purposes and that system works very well for me.

CM,

Do us a favour and post the links to the HSBC HK account you mean. I've become very confused by that site . . . which ain't hard for me and is in no way a reflection on the bank.

Yes. Why not have both accounts. Very good idea. Cheers.

See link below.

http://www.hsbc.com.hk/hk/home/

The advantage for me of having the two accounts is that I do all my investments and international stuff via HK and use BKK for inward Baht transfers (same day) and ATM only.

Is it this one, CM?

http://www.hsbc.com.hk/1/2/hk/banking/accounts#fcy_acc

This stuff is ideal as I start in Taiwan around Feb/March. Can get paid in Sterling etc . .

[churchill]

Bangkok Bank also has a foreign currency account , paying I think 4% interest . Money held in sterling ( or other currencies ) until you want to convert .