Stargazer
Surin Legend
Ever hear James Hersey's song 'Everybody's talking'? Great song.
"Everyone’s talking
Everyone’s got their own
Words of unpaid advice
Everyone else knows how..."
WISE
- Thread starter varrius57
- Start date
"Everyone’s talking
Everyone’s got their own
Words of unpaid advice
Everyone else knows how..."
CO-CO
Rather wrinkly & occasionally cantankerous member
Published where? I'd like to educate myself so I can help my rich but naive (compared with me) perhaps soon to-be brother-in-law.
I'm getting a bit cynical about the 'rule of law' in Thailand. We narrowly escaped having our vehicles hauled off to Cambodia sans titles, which seem unimportant. I could tell you more, but then I'd have to kill you, and then myself. I'm going to have to move to the 'need to know' principle.
I'm back, by the way. I had trouble getting the forum to reset my password after it inexplicably quit letting me log on: then, it would say it was sending me a password reset email, but it would never arrive. Now that I'm 'home' with my fast 3BB connection, the reset request/email worked. In the meantime, I tried setting up a new account under the rubric 'Stargazer' for better anonymity , but that is still pending 'approval by 'administrator'. That should confuse them good. It's pretty rainy here near Surin City, and the monsoon rains have wreaked havoc with the roads, so it's pothole dodging time on most roads, with lots of water flooding half of a lane in places.
Just look at the banks websites under 'fees'.
For example K Bank clearly quote fees on inward transfers of 0.25% up to a maximum of 500 Baht, plus 0.1% fee (not limited) plus 20 Baht if paid outside Bangkok
Yorky
Fullritis Member
Those fees are in respect of foreign currency transfers not Thai Baht.
Prakhonchai Nick
You chose a custom title
But apart from WISE, UK banks that convert sterling to THB, before transferring it to Thailand, use a very much lower exchange rate that the TT rate used by Thai banks.. So no fees, but a much lower exchange rate!!!!!!!!!
CO-CO
Rather wrinkly & occasionally cantankerous member
Yorky
Fullritis Member
Don't I know it. My daughter returned a loan to me a few years ago (before WISE) and neglected to tell the bank to transfer the monies in Sterling. I must have told her three times what to do, but no. I lost about 7% but effectively the loss was negated by a favourable exchange rate.
CO-CO
Rather wrinkly & occasionally cantankerous member
There would not be a 'favourable' exchange rate if the bank converted in the UK....
.....unless it was Christmas!.......even then it is ALWAYS better to remit in the home currency (unless converting via WISE).
Yorky
Fullritis Member
The exchange rate was better when the monies were returned than when the monies were lent. I'm guessing but I believe it was around ฿3.00 or 4.00 higher. I'd actually spent the difference before I discovered her folly.
I think it was around 15 years ago.
Prakhonchai Nick
You chose a custom title
WISE- Formerly Transferwise
I have today learnt from Wise that when an account is opened from a Thailand address and for an expat (any nationality) living in Thailand, the account is deemed to be a Thai account. As such, any balance on the account at time of death does not form part of a UK Estate or that of the expats home country. To release funds, in accordance with a Will, or if the expat died intestate, Wise require Probate or Letters of Administration issued in Thailand. (This requires the services of a Thai lawyer) Normally, when intestacy rules apply in Thailand, 50% of assets go to the deceased's overseas family and the other 50% to the surviving spouse.
It would be worth expats who have their pensions paid to Wise, or hold money on their Wise account, to have a Wise debit card and ensure their wives/partners are aware of their PIN number and/or how to access any remaining money either via the debit card or online transfer immediately after death..
I have today learnt from Wise that when an account is opened from a Thailand address and for an expat (any nationality) living in Thailand, the account is deemed to be a Thai account. As such, any balance on the account at time of death does not form part of a UK Estate or that of the expats home country. To release funds, in accordance with a Will, or if the expat died intestate, Wise require Probate or Letters of Administration issued in Thailand. (This requires the services of a Thai lawyer) Normally, when intestacy rules apply in Thailand, 50% of assets go to the deceased's overseas family and the other 50% to the surviving spouse.
It would be worth expats who have their pensions paid to Wise, or hold money on their Wise account, to have a Wise debit card and ensure their wives/partners are aware of their PIN number and/or how to access any remaining money either via the debit card or online transfer immediately after death..
Merlin
You chose a custom title
According to their website, WISE don't provide cards to those with Thai accounts.
CO-CO
Rather wrinkly & occasionally cantankerous member
That is correct.
I have a card because my account is based around my UK correspondence address.
Merlin
You chose a custom title
Hmmm... Mine is a WISE personal a/c, but it seems there is an option to have a WISE business a/c (for which I have a UK business address.) Might that be a way around the problem?
Prakhonchai Nick
You chose a custom title
I had overlooked that fact. My Wise account is UK based, having a UK address.. I don't have a card though. Even more important then that wives/partners knowhow to access money online after death.
CO-CO
Rather wrinkly & occasionally cantankerous member
Prakhonchai Nick
You chose a custom title
They can, if they are able to log in. Many do not know the log in codes etc
2.2)You may not register multiple accounts on the Surin Farang Forum (except for STAFF accounts). Any users found to have registered more than one account on the Surin Farang Forum or given passwords to others so that they can use member account ts are liable to have their right to post removed. No access will be tolerated with a Hidden IP Address via a VPN/Proxy Server or such like system.Published where? I'd like to educate myself so I can help my rich but naive (compared with me
I'm getting a bit cynical about the 'rule of law' in Thailand. We narrowly escaped having our vehicles hauled off to Cambodia sans titles, which seem unimportant. I could tell you more, but then I'd have to kill you, and then myself. I'm going to have to move to the 'need to know' principle.
I'm back, by the way. I had trouble getting the forum to reset my password after it inexplicably quit letting me log on: then, it would say it was sending me a password reset email, but it would never arrive. Now that I'm 'home' with my fast 3BB connection, the reset request/email worked. In the meantime, I tried setting up a new account under the rubric 'Stargazer' for better anonymity, but that is still pending 'approval by 'administrator'. That should confuse them good. It's pretty rainy here near Surin City, and the monsoon rains have wreaked havoc with the roads, so it's pothole dodging time on most roads, with lots of water flooding half of a lane in places.
Please confirm which membership name you would like to use, so that the second one can then be closed.
CO-CO
Rather wrinkly & occasionally cantankerous member
Yes, well they need to deal with Thai Widows & Expats.....then they shouldn't cock it up.
CO-CO
Rather wrinkly & occasionally cantankerous member
ASEAN NOW have softened on that; George is having a sort of amnesty.
He said that I could have one of my old accounts reinstated.
Maybe we will see Dave the Dude ride again!
CO-CO
Rather wrinkly & occasionally cantankerous member
Just by way of feedback, that is a fairly dumb rule on an anonymous internet forum - especially an anonymous forum where everybody knows each other.....
Im not sure, but maybe it was put in place, when a certain person was causing trouble, wherever he went on the internet.Just by way of feedback, that is a fairly dumb rule on an anonymous internet forum - especially an anonymous forum where everybody knows each other.....