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Ballsburstin
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EP,
Hmmm, could be. I've never used the Quick Cash function with any of my ATM cards in LOS, always have specified how much baht I wanted to take out. From what I remember, this is the 1st time she's used that too. She was getting panicky, lol, as she'd called me an hour before to be sure there would be funds to cover the expenses she needed to pay the fees for the new apartment. And when the Saving Account buttons didn't work (she's never had a personal checking account, only a savings acount, so that's why she went in that direction), she just started pressing buttons until the money popped out, lol. I can imagine a scene of sweaty palms and racing heart at the ATM machine until the Quick Cash button solved her problem. She called me up when she got back to the new apartment to share her terrifying ordeal, lol. I think it has something to do with the fact that at the back of most every Thai lady's head, there is the fear of her loving farang dumping her for the next 19 y.o. on the soi.
I will ask her to use the specific money function next time, and see what happens. I'll post a report here if she still gets skimmed by the bank. I should have spent more time teaching her the English banking terms on the ATM, as she's finding that for that card, the ATM often won't give instructions in Thai, perhaps because the machine figures it's a farang doing the withdrawal.
- Balls
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Thai Girls : Meet Sexy Thai Girls
Posted on: 12:43 pm on Dec. 30, 2006
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DaffyDuck
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odd. What would be the difference between handling a 'quick cash' transaction, or one where you type in the amount?
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 12:53 pm on Dec. 30, 2006
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Ballsburstin
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Well, the mystery of the missing baht seems to be solved, thought the amount seemed to fluctuate on a daily basis. When my TGF made the withdrawal last week, the initial amount posted by my bank (which I checked online) showed a 30.1 baht/1 USD rate. Then over the course of the week, that number fluctuated, for unknown reasons, and now seems to be holding steady at 35.4 baht/1 USD, based on her withdrawal amount and the amount now "officially" posted online by my bank. It's stayed at that rate for the last two days, so perhaps there is some lag time or confusion that my bank has in showing the "final answer" for the dollar amount withdrawn at that ATM. As the exchange rate on that day was within 1 baht of the newest number, the new numbers would be in the expected range.
I haven't seen this with my other bank accounts, perhaps it has to do with the fact that this particular US bank is regional, not national? Anyway, whatever the reason, the number initially shown by my bank seems to have been incorrect.
- Balls
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Thai Girls : Meet Sexy Thai Girls
Posted on: 2:41 pm on Jan. 6, 2007
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Minder
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BB;
I just had the same experience with my Visa card access to my banking accounts in Oz last week. I telephoned back to Oz to check on my dwindling resources whilst in Bangkok and when I converted the amounts given to me by my accounts "talking" automated response I nearly choked. The street exchange stalls had been giving me just over 28 baht to the Aussie cash dollar all week, earlier ATM withdrawals had converted at an acceptable 27.5 but that day MY bank it appeared had just given me around 22 or 23 to the dollar on the ATM 10,000 baht withdrawal I had just made !!!
Two days later and the exchange rate had been adjusted upwards and the total amount reduced accordingly. I'm thinking it must be standard to hit you with a worst case exchange rate on the initial transaction and then modify it. Mine is also a non-national non-major institution (what we call a "Co-op" here in Oz) Enjoy.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 9:56 pm on Jan. 7, 2007
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DaffyDuck
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Most banks, especially if your 'ATM' cards sport the Visa or Mastercard logo, use the best exchange rate (best for you, that is), over the course of a week, and adjust your balances accordingly.
The initial fee will always be worst case scenario (to protect the bank), but after several days the amount is adjusted for final exchange rate, which is invariably either the best rate of that period, or an average over that period.
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Thai Women : Meet Matured Thai Women
Posted on: 10:16 pm on Jan. 7, 2007
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wildman1123
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has anybody gone to the market or the gold hsop on a cash basis for a btter rate???
If so where?
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 6:59 am on Jan. 9, 2007
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Evil Penivel
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Wildman-
Unless you are changing a big amount of money, say $10,000 U.S. or more, it would hardly be worth your while to search for "alternate" forms of money exchange and then it wouldn't be nearly as safe. For amounts under $10,000 U.S., you get at most a few satang more per baht in the gold shops and maybe 50 satang more per baht on the black market. At least when it comes to the black market, you are taking a big risk for very little money.
On a different note, the following was writen by a financial analyst who gets very big bucks to advise people who have even bigger bucks. Bottom line: Thai baht will weaken. I lifted the last paragraph of his analysis to the top to get to the chase faster.
Evil
"Needless to say, such an (investment) environment bodes ill for the Thai baht. It was one of the strongest currencies in the region last year and is likely to be among the worst performers until the political/policy environment improves. Initially look for the dollar to re-test the THB36.50 area seen in mid-December and possibly head toward THB38 in the coming months."
This is how it begins:
"The last thing Thailand needed was more bad news after the botched attempt to impose capital controls at the end of last year and the bombings on New Year's Day. But that did not stop Thai official from announcing new restrictions on foreign ownership. Overseas investors have a year to disclose their holdings in Thai companies and a further 12-months to pare their stakes to less than 50% based on voting rights.
Local joint ventures, using what are called "nominees" have 90 days to disclose their stakes and 12-month to comply with the new rules. The policy re-defines "alien" to include foreigners and their Thai nominee. Retailers and hotels will be required to report their holdings, but foreign investors in those sectors will not have to pare foreign or nominee stakes
Although these new policies do not impact portfolio investors, it is yet another step in the deterioration of the political and investment climate. S&P indicated late yesterday that the situation was increasing the likelihood that it will lower the outlook for Thailand's credit rating.
Thai stocks fell 2.7% today (Jan 9), bringing the year-to-date loss to 9.3%. Today represents the lowest close in two years. The debt market rallied. But given the 30% withholding on foreign fixed income investments, one has to assume that the debt buying is being down by domestic investors, perhaps as they flee the equity market. The yield on the benchmark 10-year bond fell 14 bp to 5.06%."
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:37 am on Jan. 9, 2007
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China Sailor
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My financiers and partners have agreed to put any investment in LOS on hold and we will be looking at Vietnam for our SEA expansion from Singapore.
No way will be put half of a tech company into Thai ownership without the controlling vote. IMHO this is no different than Hugo Chavez's grab of Telecoms and Utilities with the exception that LOS will let you sell your stakes at 'Fire Sale' rates...
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Thai Girls : Meet Active Thai Girls
Posted on: 2:14 pm on Jan. 9, 2007
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Mel Gibson
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Retailers and Hotels will not have to comply 
Ok, I'll build two "dog boxes" on the land and name it a hotel Or one "dog box" selling pla ra and call it retail,,, about time the Thais woke up to the real world,, more rules only mean more ways around the rules.
Interesting that they brought in the 30% investment rule to ease the Baht but it just f***ed the SET and the Baht is still very very strong.
I guess the secret now is to find 25 Thai's that you think you can trust,, you've got 49 % and you give each of these honest loving true hearted Thai's 2 % ( yes one must get 3% ) and hope to god at least one of them will be honest.
I'm starting to miss Taksin
Mel.
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Thai Women : Meet Matured Thai Women
Posted on: 4:02 pm on Jan. 9, 2007
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oex100
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baht now @34 to the USD. it was about 40 a year ago. makes a big difference expense-wise.
anybody know if businesses have adjusted (lowered) their prices accordingly?
thanks.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:36 pm on Jan. 25, 2007
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