Pattaya sees rise in independent Chinese tourists amid decline in group tours

[rgs2001uk]

Agree with all the above.

Another point not mentioned is the draconian 30% tax rate that applies.

Check out a HSBC A$ account in Singapore, it pays I believe about 4%.

The above is not an endorsment of HSBC, but gives an example of the rates available in Singapore for non Australians.

i [not so] humbly beg to differ. neither a draconian nor any tax rate is charged by any Singapore bank on any income / proceeds / capital gains, whether the beneficiary is Singaporean, Australian or any other nationality. that of course does not apply to cases where a country places a withholding tax on proceeds generated within said country and the bank receives the net amount only. interest from cash deposits denominated in any currency is tax free.

:jap:

You are of course correct Herr Dr, I didnt explain properly, I was referring to the post by antony77, as follows,

"A$ deposit account 6% in Oz"

An account held in Australia will be subject to their tax laws, much more investor friendly Singapore attracts no tax, as you correctly pointed out.

The reference to 4% wasnt a tax rate but the interest rate on an A$ account held in Singapore.

For james24, any interest paid on a Thai account will be taxed at 15%.

[james24]

ah ha so not taxed on funds...?

I ask because this account has no interest, I set it up so I miss the atm charges from taking out money in Uk.

[chiang mai]

ah ha so not taxed on funds...?

I ask because this account has no interest, I set it up so I miss the atm charges from taking out money in Uk.

A few points:

1) Your UK bank will charge you for making the transfer, figure anywhere from £15 to about £35.

2) Make sure you transfer Pounds to Kasikorn, do not let the UK bank make the exchange into Baht or you'll loose big time.

2) You will pay a fee for Kasikorn receiving your Pounds, I would guess around Baht 400.

3) You will have to pay for a Kasikorn ATM card, circa Baht 300.

4) The only tax you would be liable for is 15% of any interest earned in Thailand, deducted at source.

[james24]

cheers

Its a sterling account with Kasikorn so it should be fine but Ill specifically write this in bold just in case.

No atm card either but can withdraw with book

[james24]

UPDATE

Worked fine except my bank (abbey) charged me 25 pounds then Lloydds (the bank inbetween) charged me an additional 15 pounds.

Abbey didnt tell me they used another bank to move the money which I thought was a bit rude but will know not to do it with them again.

[james24]

ANOTHER UPDATE.

Don't do it. I just tried to take out gbp as another banks exchange rate was better. For 200 gbp they wanted 1000 baht fee plus 1% of the transaction amount 2 pound !about 100 baht.

Could not believe it, what a rip off. So what I did was change it into baht with them and they gave me the telex transfer rate which was lower.

Max Keiser Im right behind you, Buy silver and put all these banking criminals out of business.

[Kwasaki]

ANOTHER UPDATE.

Don't do it. I just tried to take out gbp as another banks exchange rate was better. For 200 gbp they wanted 1000 baht fee plus 1% of the transaction amount 2 pound !about 100 baht.

Could not believe it, what a rip off. So what I did was change it into baht with them and they gave me the telex transfer rate which was lower.

Max Keiser Im right behind you, Buy silver and put all these banking criminals out of business.

Hence the start of your other thread l take it. :lol: :lol:

[PattayaParent]

UPDATE

Worked fine except my bank (abbey) charged me 25 pounds then Lloydds (the bank inbetween) charged me an additional 15 pounds.

Abbey didnt tell me they used another bank to move the money which I thought was a bit rude but will know not to do it with them again.

Possibly becuase Abbey are not a clearing bank?

But odd that they used Lloyds, I would have thought they'd use a bank in their own group?

[Naam]

Buy silver and put all these banking criminals out of business.

pay with silver coins for your Chang in 7/11, then grind an ounce to powder and sniff a silver dinner.

[Naam]

sorry, double posting.

Edited November 19, 2010 by Naam

[james24]

ANOTHER UPDATE.

Don't do it. I just tried to take out gbp as another banks exchange rate was better. For 200 gbp they wanted 1000 baht fee plus 1% of the transaction amount 2 pound !about 100 baht.

Could not believe it, what a rip off. So what I did was change it into baht with them and they gave me the telex transfer rate which was lower.

Max Keiser Im right behind you, Buy silver and put all these banking criminals out of business.

Hence the start of your other thread l take it. :lol: :lol:

Lol yeh

The straw that broke the camels back

[Kwasaki]

ANOTHER UPDATE.

Don't do it. I just tried to take out gbp as another banks exchange rate was better. For 200 gbp they wanted 1000 baht fee plus 1% of the transaction amount 2 pound !about 100 baht.

Could not believe it, what a rip off. So what I did was change it into baht with them and they gave me the telex transfer rate which was lower.

Max Keiser Im right behind you, Buy silver and put all these banking criminals out of business.

Hence the start of your other thread l take it. :lol: :lol:

Lol yeh

The straw that broke the camels back

Just check my statement 13,650 cost 291.07 at 46:895 ouch !!

[james24]

ANOTHER UPDATE.

Don't do it. I just tried to take out gbp as another banks exchange rate was better. For 200 gbp they wanted 1000 baht fee plus 1% of the transaction amount 2 pound !about 100 baht.

Could not believe it, what a rip off. So what I did was change it into baht with them and they gave me the telex transfer rate which was lower.

Max Keiser Im right behind you, Buy silver and put all these banking criminals out of business.

Hence the start of your other thread l take it. :lol: :lol:

Lol yeh

The straw that broke the camels back

Just check my statement 13,650 cost 291.07 at 46:895 ouch !!

I know how you feel, I hope it changes soon

[zoolander]

have a look here http://www.moneysupermarket.com/savings/search-all/?enquiryId=1080910

[james24]

have a look here http://www.moneysupe...quiryId=1080910

Very tempting but Im gonna try and keep my money out of banks as much as I can now. The top one is very good though, for six months, must be quite risky though