thai baht where is it going

sargeant · Post by **sargeant** » Tue Jan 23, 2007 6:52 pm

I agree but to change i would have to return to the uk i have tried my sis and binl have tried and my nephew

Return to the uk now let me think testicles amputate cut rusty hacksaw blade anasthetic non existant are just a few words that spring to mind unless you know of a way for me to change banks and sign on right here in hua hin i am stuck with what i have got

Post by **JimboPSM** » Tue Jan 23, 2007 7:43 pm

sargeant wrote:.......... unless you know of a way for me to change banks and sign on right here in hua hin i am stuck with what i have got

Looks like you're stuck with what you've got

Because of anti-money laundering and anti-terrorism legislation every bank has introduced "Know Your Customer" (KYC) regulations which make it virtually impossible to open an account without visiting them and bringing with you your current passport, utility bills, driving licence, local vicar, school report etc, etc.

If you can make it back to UK, I would recommend Nationwide, easily managed internet banking, no fees or charges at most ATM's and they take a much lower spread on currency deals than any other bank (there may be better, but I have not found any yet).

Post by **PeteC** » Tue Jan 23, 2007 8:03 pm

JimboPSM wrote: Because of anti-money laundering and anti-terrorism legislation every bank has introduced "Know Your Customer" (KYC) regulations which make it virtually impossible to open an account without visiting them and bringing with you your current passport, utility bills, driving licence, local vicar, school report etc, etc.

Wait a sec on this one? ING has accounts you can open up on-line and even transfer in funds from your existing bank. Also, looking at HSBC and Wells Fargo USA a month or so ago, you can do the same. I'm sure there are more. Perhaps your existing credit and personal data that is already out there is sufficient, if you have a good and long history in the data bases? Pete

Post by **JimboPSM** » Tue Jan 23, 2007 8:24 pm

prcscct wrote:
JimboPSM wrote: Because of anti-money laundering and anti-terrorism legislation every bank has introduced "Know Your Customer" (KYC) regulations which make it virtually impossible to open an account without visiting them and bringing with you your current passport, utility bills, driving licence, local vicar, school report etc, etc.
Wait a sec on this one? ING has accounts you can open up on-line and even transfer in funds from your existing bank. Also, looking at HSBC and Wells Fargo USA a month or so ago, you can do the same. I'm sure there are more. Perhaps your existing credit and personal data that is already out there is sufficient, if you have a good and long history in the data bases? Pete

I opened up a Nationwide account online, but still had to visit a Nationwide office with passport etc. to identify myself before they would activate it for withdrawals.

There may be a lot of personal data out there, but Data Protection rules make it difficult for it to be obtained and used in many organisations.

It is easier to open "offshore" accounts without attending in person but they still have KYC regulations; most "offshore" banks have limited facilities in comparison to mainland UK banks and they also tend to attract more attention from tax authorities.

sargeant · Post by **sargeant** » Wed Jan 24, 2007 9:42 am

I tried to sign on line or should i say my nephew did and that was the stumbling block he hit i am however considering (shudder) going back to the UK 36000 a year is a good saving worth the effort and as i fly free and will stay with sis i suppose a week of snow slush freezing rain and biting cold wind (going in june/july afterall) will have to be suffered in a good cause and mrs sarge after my demise will also be taken care of

Post by **Big Boy** » Wed Jan 24, 2007 2:33 pm

sargeant wrote:

i fly free

How do you manage that Sarge? Those little tweety pie wings don't look strong enough to last the distance?

sargeant · Post by **sargeant** » Wed Jan 24, 2007 7:22 pm

simple BB i worked for British Airways and is part of my retirement package Standby of course

Post by **Big Boy** » Wed Jan 24, 2007 7:28 pm

That's not a bad retirement perk, just a shame that its BA rather than a decent airline. After travelling with them to Thailand last year, I've vowed never again (apart from the freebie they owe me in Air Miles).

Anyway, enough about travel

Post by **HansMartin** » Mon Mar 19, 2007 11:03 am

When I was in in HH in Sept/Oct 2006, the exchange rate at the tourist banks was around 36-37 bhat to the US$. We are coming back in May/June--what can we expect, that is what is the local current tourist rate?

Fortunately we have a bank account in BKK and some investments that will be paid back at the old rate of 40bhat/1US$, but we will probably need to move some more greenbacks over, so I need to know the magnitude of the bath I will be taking.

Post by **PeteC** » Mon Mar 19, 2007 11:57 am

It's still sinking and expected to go to about 34 here in Thailand about the time you'll be here. The offshore rates may well get as low as 31. I would expect you'll get about 33.5-34.0 at exchange services here. Pete

Post by **HansMartin** » Mon Mar 19, 2007 12:15 pm

Pete

What about transfering$$ over? US bank to Thai bank via wire transfer?

ozuncle · Post by **ozuncle** » Mon Mar 19, 2007 12:25 pm

HansMartin,
If you check the T/T rate on the internet for the bank in Thailand to which you are sending the money, it should give you exact rates updated regularly.
All banks have different rates.
Just make sure, as has been mentioned previously, that you send your home currency and let your Thai bank do the exchange.

Post by **The understudy** » Mon Mar 19, 2007 2:04 pm

Hi there y'all

If you need a curremcy exchange Wevsite that's up to date every time you visit I recommend to you the site: www.xe.com. This site has tables of the Euro against alll major currenciess. Plus you also check the rate Euro vs. Thai Baht. US Dollar vs. Thai Baht and vice versa. please you alll try it out.

Your's The understudy!!!!

ozuncle · Post by **ozuncle** » Mon Mar 19, 2007 3:05 pm

Hello The Understudy.
I have found that xe.com and various other companys are all way out when I have transferred money from Australia.
As mentioned I believe the best way is to T/T in your currency and let the Thai bank do the exchange.
eg. As of now:-

XE.COM 1.00EUR =43.3991 THB

The actual rate of exchange at Bangkok Bank now is 46.11 THB

If you do it this way you are almost certain to get exactly what it says on the internet. There could be a minor change as adjustments occur during each day and there is a small fee from the bank.

Post by **PeteC** » Mon Mar 19, 2007 3:28 pm

HansMartin wrote:Pete

What about transfering$$ over? US bank to Thai bank via wire transfer?

You know about the 30% witholding for amounts over $20,000 so be guided accordingly. I'm not sure about the rate in this instance but I can tell you I am still getting about 34.3 through my USA ATM card as of last week. I assume your transfer rate may be about the same. Above posts also give some good guidance about how to check in more detail. Pete