spending in Thailand

Heliflyguy

Doshwaster wrote: »

That means hunting down an AEON machine even more worthwhile.

http://www.aeonthailand.com/en/customerservices_servicelocation_atm_depositor.php

socrates

ND - I got an answer from Charles Schwab - regarding protection of money

You are covered up to $500k for stocks only - or $250k cash + $250k stocks

So at $250k cash you are better off than in a UK Bank which is £85k

It would have to be Armageddon to lose your money - meaning the entire US Stock Market and Economy would have to go into free fall and if that happened it would be worldwide anyway so our £85k guarantee would be equally as useless

As I said this account is not for everyone - as we have both given reasons for countless times BUT for me - especially as I will be there for extended periods I feel it will work and be convenient - worst case scenario I leave $1,000 in there and forget all about it

NiftyDigits

socrates wrote: »

ND - I got an answer from Charles Schwab - regarding protection of money

You are covered up to $500k for stocks only - or $250k cash + $250k stocks

So at $250k cash you are better off than in a UK Bank which is £85k

It would have to be Armageddon to lose your money - meaning the entire US Stock Market and Economy would have to go into free fall and if that happened it would be worldwide anyway so our £85k guarantee would be equally as useless

As I said this account is not for everyone - as we have both given reasons for countless times BUT for me - especially as I will be there for extended periods I feel it will work and be convenient - worst case scenario I leave $1,000 in there and forget all about it

Indeed...see it as a bit of fun. It's only money. Keep us informed.

socrates

UPDATE!

Things are changing in Thailand quite rapidly it seems

AEON now no longer offer free ATM withdrawals - they now charge 150 baht

Kasikorn Bank which previously opened Bank Accounts on the spot with a 30 day Tourist Visa, Passport, Thai mobile number and business card from hotel - now no longer do so - there have been reports of the odd branch here and there still opening them - but on the whole they are only opening them for people on longer visas

As from next month there will be an average charge of around 150 baht (£3 roughly) per Travellers Cheque processed

Those who have the K Bank account already are fine

And it seems for UK Passport holders as advised previously only the Charles Schwab Account (UK version) allows for totally free cash withdrawals and no commission (fees are refunded) from an ATM and that is world wide