Lao Pride Forum - Buying and renting property in Laos

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Buying and renting property in Laos (Read 19703 times)

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Re: Buying and renting property in Laos
Reply #15 - 25^th Aug, 2010 at 1:02am

The United States is a modern country so they are always ahead in nearly everything. People are still learning in Laos, most Lao merchants don't know how to use electronic gadgets such as a credit card processing machine. There's a fee charged to the customer, and the banks also charge the business a fee for processing credit card transactions. It's better to receive cash in hand, saves all the hassles and scams.

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Re: Buying and renting property in Laos
Reply #16 - 25^th Aug, 2010 at 1:44am

Admin Saovaluck wrote on 25^th Aug, 2010 at 1:02am:

That's true there is lot of scam going on criminals can steal your ATM card or credit card number easily too. But they have law protecting consumers. There's pro and con. Using bank or credit card is very convenient, but can be expensive every time you use debit card ATM machine will charge you about $2-$3 fee and bank will charge you another $1 for each transactions. Laos is catching up, it'll take time.

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macro Junior Member Offline I Love Laos! Posts: 55	Re: Buying and renting property in Laos Reply #17 - 30^th Aug, 2010 at 11:18am Main reason Some business don't like to use them is because of fraud, ususlly the bank charge the business 0.5% of the transaction, small business may be 1%, but if the card holder is not exist (fraud), then the business will lose the entire amount, of course, there is insurance but it's trouble.
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