GBP / Baht Exchange rate today ?

[chivus]

columx

When was it that you set up your bank acct with TukcomтА▓s Kasikorn Bkя╝Я Last time я╝ИSeptember я╝Й I was in Pattaya, I asked around the banks in Central Festival, but was told I needed a Thai work visa to set up an account.

I also checked with banks in Bkk with a Thai friend and was turned down in Bkk as well. Bangkok Bk in Siam Paragon Mall told me as a visitor, I needed a notarized affadavit from my embassy before I could set up an acct with them. Seemed like unnecessary hassle, so just gave up. Will be going to Pattaya for the coming winter holiday, so will look into Kasikorn Bk at Tukcom. As I travel to Thailand 3 or 4 times a year, itтА▓d be convenient to have a Thai bank acct.

I usually bring enough cash with me for the duration of my stay. Never had any problems carrying cash in Thailand. Knock on wood. I use my credit cards for purchases and restaurants, and find the exchange rate charged on my card to be quite good.

[cdnmatt]

I walked in to Kasikorn bank on Pattaya Tai ..and signed up for a bank account there without any issues.... I used Mosaiks address as my address (i was staying there at the time)

Are you not concerned that Bank correspondence/statements with your Account Number and personal details will therefore be sent to Mosaik on an ongoing basis (where you will not be present) and could be used, by whoever picks the mail up, for all sorts of fraudulent purposes?

That's why you choose the "paperless statements" option, so no mail ever gets sent to you from the bank. It's all done online.

I've had an account with Kbank for over a year now, and did the same as Colmx. No problems at all.

I walked in to Kasikorn bank on Pattaya Tai ..and signed up for a bank account there without any issues.... I used Mosaiks address as my address (i was staying there at the time)

Are you not concerned that Bank correspondence/statements with your Account Number and personal details will therefore be sent to Mosaik on an ongoing basis (where you will not be present) and could be used, by whoever picks the mail up, for all sorts of fraudulent purposes?

That's why you choose the "paperless statements" option, so no mail ever gets sent to you from the bank. It's all done online.

I've had an account with Kbank for over a year now, and did the same as Colmx. No problems at all.

Fair comment.

[allieb]

I have an account with Bangkok Bank Silom Branch. I am not a resident. That branch opens accounts for tourists with just a passport as ID. You get a pass book and an ATM card. They will not allow internet banking on this type of account.

[colmx]

columx
When was it that you set up your bank acct with TukcomтА▓s Kasikorn Bkя╝Я Last time я╝ИSeptember я╝Й I was in Pattaya, I asked around the banks in Central Festival, but was told I needed a Thai work visa to set up an account.

Hi Chivus
I setup the account last January - so maybe things have changed since... but i think not...

Are you not concerned that Bank correspondence/statements with your Account Number and personal details will therefore be sent to Mosaik on an ongoing basis (where you will not be present) and could be used, by whoever picks the mail up, for all sorts of fraudulent purposes?

I don't really think Thailand is like the US or europe where identity fraud is so rife. Without the bankbook and passport - there is not much that anyone could do with a bank statement in my name. As far as i know they don't even send out statements!

[Beachlover]

I don't know what ID procedures are like in Thailand but in Australia and many places, a bank statement is one form of ID used to support other primary forms of ID when applying for a bank account, driver's license and other stuff, which go goes towards building an identity.

You should keep any bank statement or utility bill in your name secure. It's not a disaster if you lose one and it can't be used on its own to steal your identity but giving it away is removing one of a few obstacles for identity theft or fraud.

There is a YELLOW exchange rate booth just outside of Soi 3 Boyztown. Come out from the Ambiance and turn right 1/2 block.
BEST RATES!

I have always found that the best rate of exchange that I recieved was to bring CASH and change it at either of the two YELLOW change booths just to the right from Boyz Town on Second Road. The one on the right is smaller and the one on the left is very large, an indoor almost bank type. The boss is usually there and if you whine a bit and have $4,000 US or more, you get a better rate. Large denomination bills are best.
Then lock your money in the safe in your room. i have always found that they are better than the banks, other exchange booths and DEFINATELY better than trying to get a cash advance on your credit card!!

Remember that cash advances (ATM withdrawal) on your credit card carries a very stiff (pardon the expression) rate and the rate is effective the moment you withdraw that money!!!

Putting it into your account and then taking it out of ATMs I have ALWAYS found it to have that 150 baht penalty or fee.

Now, if you are worried about losing it on the way, or dying in the airplane or something, then I have this one alternative for you......
1. OPEN a Thai bank account.
2. 2 or 3 days before you come, wire what you want to your Thai Bank account. From the US it costs $40 US. Boom. It is there within 2 or 3 days, best rate from bank to bank ususally and you have an ATM card on your Thai Bank account you can use for no charge. :lam:

I don't know what ID procedures are like in Thailand but in Australia and many places, a bank statement is one form of ID used to support other primary forms of ID when applying for a bank account, driver's license and other stuff, which go goes towards building an identity.

You should keep any bank statement or utility bill in your name secure. It's not a disaster if you lose one and it can't be used on its own to steal your identity but giving it away is removing one of a few obstacles for identity theft or fraud.

In Thailand a farang is normally prohibited from opening a cheque or current account. The only option available is a savings account with ATM card.

These accounts do not have statements sent out, but a passbook which you can update yourself at certain "holes in the wall"

If you do need a cheque then you can go into the branch and get a counter cheque.

Anything such as getting a counter cheque, replacing a lost atm card, getting a new passbook will also require your passport.

Ah! the pound is like a 3rd world currency and has been for some time now. Doesn't help by the Bank of England keeping interest rates so bloody low, no one wants to invest their money in the UK at the moment. I only make one trip a year now due to the poor rate

But there seems to be consensus amongst currency traders that the Pound will recover in 2011. This from the Investors Chronicle, this week:

"Sterling is the most important rate to get right for UK-based investors, whose liabilities are priced in sterling. Fortunately, this is a rare point of agreement in our spot poll of experts. They all believe the pound remains undervalued after its rocky run before the May general election, when investors тАУ quite wrongly as it turns out тАУ assumed a hung parliament would lead to budgetary incontinence. If sterling strengthens against the other major currencies next year, as this implies, foreign stocks would face an uphill struggle for UK-based investors. That would reverse a two-year trend that has been a major tailwind for British devotees of the Dow."

The same article says that the Australian $ is considered overvalued at present by these 'experts'