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JamJar
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Posts posted by JamJar
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3 minutes ago, Hardie said:
Going to an ATM is much easier than going to a counter, genius...
Genius enough to understand that one account in the USA; Charles Schwab Bank High Yield Investor Checking Account® , is not going to be easily attainable for most of the people using this forum. Especially since most are not from the USA.
The other nonsense concerning 'Private Client status' deserves scorn poured upon it since it then narrows down the options even further.
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3 hours ago, Chivas said:
dont give up your day job !
interbank is the full international rate banks use to one another. Revolut card when first introduced had interbank rates (but no longer with the baht as junk status) and the only other card in uk (that I'm aware of) is the halifax clarity card
Other credit cards that pass on the full Mastercard rate from the UK are;
Creation Everyday
Santander Zero
Barclaycard Travel Platinum passes on the full VISA rate.
There are a few Prepaid Mastercard debit cards that pass on the full Mastercard rate.
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1 minute ago, Hardie said:
It's easier just to find a foreign bank that rebates your ATM fees, not so hard to find in the US, especially if you can get 'private client' status...
So then it's not easier, is it?
Nonsensical post.
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Our exchange rates for card transactions are determined by the payment scheme provider for the card. For further information and other exchange rates and currencies see MasterCard or Visa.
https://www.halifax.co.uk/travel/help-guidance/using-debit-credit-cards-abroad/
0.5 baht off the 'mid market rate' isn't necessarily accurate. I noted 0.2 yesterday. This betters any Thailand bank's TT rate in any case.
As to Revolut:
QuoteFor a few illiquid currencies, we provide the best rate we possibly can. For THB and RUB, we apply a small 1.5% markup on the exchange rate. For UAH we apply a 1% markup.
At the weekend (Friday 23:59 - Sunday 23:59) we apply a small mark up on the spot rate as the Forex markets are closed. We take the rate from Friday 23:59 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate. For illiquid currencies like Russian Ruble and Thai Baht, there is 1.5% mark up on weekend.
Don't use it at the weekend and forget about it for Thai baht.
The problem with Revolut is that they implemented these things and then only announced it after people began to notice.
I noticed it last year when I was looking at AU$.
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2 hours ago, Chivas said:
dont give up your day job !
interbank is the full international rate banks use to one another. Revolut card when first introduced had interbank rates (but no longer with the baht as junk status) and the only other card in uk (that I'm aware of) is the halifax clarity card
No...it's the Mastercard rate.
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6 hours ago, LammyTS1 said:
No limit for purchases. Counter withdrawals are not ATM withdrawals.
I can withdraw any amount up to my cards limit in 1 transaction which can be anything up to 250,000 baht.
Sent from my iPhone using Thailand Forum - Thaivisa mobile app
It depends on how the transaction is processed. The bank that I use doesn't allow me to go over the ATM withdrawal limit. Though I don't use the Clarity.
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2 hours ago, LammyTS1 said:
I've been using my UK clarity credit card weekly for the past 6 months and always get free counter withdrawals with no limit at all banks and exchange booths.
I once withdrew 75,000 baht from Bangkok bank to buy a bike. I usually withdraw 40,000 at a time.
No Thai bank fees and no foreign transaction fees. I also get the MasterCard exchange rate which is better than Thai banks and exchange booths.
The only time I was charged was at SCB. 300 baht but I complained and got the cash back in my hand(after a lot of debate).
Surprised, as the Clarity has a £500 per day limit for ATM withdrawals.
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46 minutes ago, Artful Dodger said:
Yes ,thanks very much for the info you've provided in this thread. I'm not sure where I gave you the impression that my CC was a Mastercard (I have Visa and Amex) but I can get a Mastercard so it doesn't matter.
Holding a bank account does nothing to make you look like a genuine tourist, so if there's no / no real saving, that suits me just fine.
Some people may use their Thailand bank account to store the proceeds of their cash advances. Not everyone would want to have piles of cash sitting around. Even if travelling around, they might not be a suitable bank around in order to obtain a cash advance. So a local account has it's uses, even for a tourist.
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31 minutes ago, Artful Dodger said:
Yes ,thanks very much for the info you've provided in this thread. I'm not sure where I gave you the impression that my CC was a Mastercard (I have Visa and Amex) but I can get a Mastercard so it doesn't matter.
Holding a bank account does nothing to make you look like a genuine tourist, so if there's no / no real saving, that suits me just fine.
Apologies. I'm posting on similar threads at the same time. Someone else there has the Halifax Clarity.
Nonetheless, all of the cards I posted above bar the Barclays Travel Platinum are Mastercard, so the superior rate will be available to you. The Barclaycard should be your last option, as the fee free option lasts only for a year and it offers the slightly inferior VISA rate.
Don't use your 'normal' CCs for cash advances.
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9 hours ago, steven100 said:
you need to find the email address of the CEO or someone high up .... then send them an email with your complaint and threaten to raise the issue with your associate high up in the banking industry ...
anyway, 15 days is ridiculous ... did you get the transfer done ??
The man behind it is actually a Mayor of London Deputy.
Rajesh Agrawal
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2 hours ago, jippytum said:
I have used a UK debit card for Lloyds UK and withdrawn unlimited funds at the foreign desk of both Bangkok and SCB branches showing only passport for decades.There is no charge for the transaction in either country .You also are given the exchange rate at the time as you are changing your foreign currency of choice into Thai Baht in cash or deposit direct to your account.
Absolute nonsense.
Lloyds:
NON-STERLING TRANSACTION FEE 2.99% + £1 per purchase
CASH WITHDRAWAL FEE (NON-STERLING FEE WILL ALSO BE CHARGED) 1.5% min. £2 max £4.50
So you cannot avoid the 2.99% foreign exchange fee. Likely you won't see that on your statement.
As to whether you also get charged the cash withdrawal fee, it depends on how the cash advance is classified.
But your assertion that there is no charge for the transaction is wholly misplaced.
The next time you do this, post the exact figures involved, together with the dates and we will tell you how much has been charged in hidden (or not so hidden) fees.
Lloyds is one of the worst debits cards for foreign travel.
Look here: http://www.moneysavingexpert.com/travel/overseas-card-charges
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17 hours ago, theswedishguy said:
Anyone can open a Thai bank account. Just find out what branch that do it + the extra cost.
In my case I have to pay a 2000THB insurance each year. Thats it.
A TH bank account is essential to save a ton of money. Most Westerners are not used to countries with "locked" currencies. In west the banks/and government also loves to hide all the bank fees and credit card fees. Its insane that its illegal in most western countries for shops to take a fee for credit card users or even show how much it cost. Each CC transaction have a minimum fee of 50cent even if the transaction is declined. Otherwise the fee is 3-5%. Now you know why west is a "money free" society. The banks have a hidden 3-5% fee.
Locked currency vs open currency. Usually when you exchange currency at banks/CC cards/agencies: today there is no open fee. The hidden fee is that we get 7-11% less than the spot rate of the currency is. Fun to waste money: exchange from one currency to another and back and see how much you loose each time.
Thailand that have a locked currency crave for foreign cash. Instead of loosing 7+%, I loose under 0.5% when I transfer to my Thai bank account. But here is the other trap that I was not told about. The first year in TH, when I transfered money from my farang bank to Thailand, the farang bank exchanged the money to THB. I lost 10% each transfer.
The correct way is to send your currency to Thailands bank and let them exchange it. Under 0,5% loss.
The cost for me transferring for example 100K Thb today is a flat fee of 400thb + loss of 0,5%.
If you use credit cards, even "without fees". Check the exchange rate. Do they exchange the money in TH or home? Do you loose 5, 7 or more % each transaction?
It amazes me how many don't understand this. Even me. I lost 10% of my salary each year only because my home bank forced the currency conversion home instead of TH.
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In Pattaya I know what bank to go to, to get a account. Its just 2K/year. Krung Thai at xx branch.
I couldn't edit my earlier post.
I took your word for the 400 baht flat rate + 0.5%, but on closer inspection I note that the Krung Thai TT rate is 1% off the money, not 0.5%. So that would be 1000 baht, not 500 baht. So for 100,000 baht that would be the 400 baht "flat rate", 1% off the spot rate(1000 baht) and a possible (KTB charges a 0.25% fee of the total remitted amount (minimum Baht 200, maximum Baht 500), so another possible 250 baht. So a perhaps 1650 baht. 1.65%
Transferwise charge 1,047.86 baht for the same. I did Swedish Krona to Thai baht for the Transferwise illustration.
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So Mastercard isn't the next best solution. It is the best solution in some cases.
Bank Transfer more convenient for large amounts, but in that case even Transferwise would be better.
So Bank Transfer is actually the worst option. Those who bang on about a Thai account and bank transfer being best are quite wrong.
Having a Thai account is not a bad idea, but but a bank to bank transfer offers the poorest value.
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So using Transferwise to transfer 100000 baht would cost £2258.31.
Using Mastercard £2245(if of course you could remove that amount in one day).
A transfer from HSBC to Bangkok Bank(for instance) £2271
Thailand banks use the TT rate when receiving a foreign currency transfer. Bangkok Bank's TT rate currently is 44.20 to the £.
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3 hours ago, Artful Dodger said:
Current Transferwise rate 44.63, current Visa rate 44.16. Much less difference than I'd expected TBH, and with Transferwise there will also be fees to take into account.
Your card is a Mastercard, not VISA.
Their rate today is 44.543
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2 hours ago, Artful Dodger said:
Fee free, but any cash advance is normally subject to interest from the date of withdrawal - I haven't checked all the cards listed but that's how the Santander Zero works. You can get round it - sort of - by taking a wedge out just before the CC bill is paid, but it's not ideal. What's needed is a fee free debit card with an honest exchange rate. A prepaid debit card might be the closest thing to that.
No. You really seem to be making things more complicated than they need to be.
You can simply cover any withdrawal with an online transfer. If you end up paying a few pennies in Interest, it won't hurt.
There are many fee free debit cards with the full Mastercard/VISA rate, but you can't use them for cash advances over the counter. So you'll be hit with the ATM fee.
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Why not name the countries involved??
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18 minutes ago, simoh1490 said:
Agreed with the above, parts of your post are simply nonsense! Thai banks charge a receiving fee which is capped at 500 baht, the cost to send from the UK at least is four Pounds via HSBC hence the total cost to send and receive is capped at 675 baht - if an intermediary bank is used their may be an intermediary charge also but this is not the case with HSBC. The exchange rate spread in Thailand is also very very small, far smaller than that of overseas banks, typically 50 satang above/below the midpoint.
Also, always SEND money in foreign currency, never in THB.
Also, also, Thailand doesn't crave foreign currency, it has one of the largest holdings of foreign currency reserves anywhere and that is part of their problem when it comes to the strength of THB.
Actually they are suggesting to send in home currency. What they go wrong is assuming that all plastic levies forex and other fees, when they do not.
Using a CC can be superior to bank transfers.
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4 hours ago, theswedishguy said:
Anyone can open a Thai bank account. Just find out what branch that do it + the extra cost.
In my case I have to pay a 2000THB insurance each year. Thats it.
A TH bank account is essential to save a ton of money. Most Westerners are not used to countries with "locked" currencies. In west the banks/and government also loves to hide all the bank fees and credit card fees. Its insane that its illegal in most western countries for shops to take a fee for credit card users or even show how much it cost. Each CC transaction have a minimum fee of 50cent even if the transaction is declined. Otherwise the fee is 3-5%. Now you know why west is a "money free" society. The banks have a hidden 3-5% fee.
Locked currency vs open currency. Usually when you exchange currency at banks/CC cards/agencies: today there is no open fee. The hidden fee is that we get 7-11% less than the spot rate of the currency is. Fun to waste money: exchange from one currency to another and back and see how much you loose each time.
Thailand that have a locked currency crave for foreign cash. Instead of loosing 7+%, I loose under 0.5% when I transfer to my Thai bank account. But here is the other trap that I was not told about. The first year in TH, when I transfered money from my farang bank to Thailand, the farang bank exchanged the money to THB. I lost 10% each transfer.
The correct way is to send your currency to Thailands bank and let them exchange it. Under 0,5% loss.
The cost for me transferring for example 100K Thb today is a flat fee of 400thb + loss of 0,5%.
If you use credit cards, even "without fees". Check the exchange rate. Do they exchange the money in TH or home? Do you loose 5, 7 or more % each transaction?
It amazes me how many don't understand this. Even me. I lost 10% of my salary each year only because my home bank forced the currency conversion home instead of TH.
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In Pattaya I know what bank to go to, to get a account. Its just 2K/year. Krung Thai at xx branch.
A lot of your post is simply inaccurate. All of the CCs listed above levy no forex fees.
So a withdrawal over the counter with any of those will be fee free.
Also you write about your bank transfer having a flat fee of 400 baht + 500 baht on a transfer of 100k.
So that if your figures are correct, is 400 baht plus 500 baht + 2000 baht to bank with Krung Thai; 900 baht for a single transfer. 2900 baht if only one transfer per annum.
With the correct CC, that figure would be 0 Baht.
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On 2017-5-21 at 9:17 AM, Artful Dodger said:
Thanks for that info.
Seems I was too quick to assume I couldn't open a bank account without a WP. Sounds like a hassle though. OTOH you can then get a better exchange rate than you would with any of those CCs. My existing CCs charge me pretty heavily for foreign currency transactions - think I'll get one of the ones mentioned if only as a backup.
Wrong.
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2 hours ago, zoza said:
my bank does not charge any fees anywhere (clarity credit card)
but I have taken the same card to the Kasikorn bank in Central Festival Pattaya =4% fee for cash withdrawal over the counter in Thai Baht.
and in the Kasikorn branch in the mall in Udon Thani town center asked for a counter withdrawal showed my passport and they wanted 4% transaction fee which is near double
the 220 baht fee on 15k depending on the rate.
and thanks for the heads up Pib but I fell foul of the DCC a few years ago as the sun was full
on the ATM I was using and I just hit yes......so you learn as you go on...I will just have to try some other branches of other banks.
So you've been to one bank that said no. Hardly a comprehensive sample. Perhaps try another bank?
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52 minutes ago, Chivas said:
19 years a customer with scb and they simply will not do a counter withdrawal period. No question of 4% they simply wont do it. ATM only sir stated politely
They are just about the worst anyway.
Credit or debit?
No problem with credit at the bank I use. But I never publish which bank, as a long queue of customers might discourage the practice.
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26 minutes ago, bkk6060 said:
Sorry, I know many love him but his is why Mobi's mental state is questionable. Probably some of you believe this, but come on. His quote "we are often despised, cheated, robbed, raped and even killed"... OFTEN, seriously?? Maybe some on here actually believe this based upon your paranoid/negative posts.
Farangs Defenseless in this corrupt place??
Have any of you read up on the LM scam? Check it out some telling/obvious signs of the demise of that fund. Madoff type greed hoping for an unreasonable pay day.
I suggested before he get some therapy. I was serious. He should get help so he can try to live out the remainder of his life in some sort of normalcy. I hope he seeks some help soon, I think his current situation may create a lot of stress. I assume he can get therapy in his home country now for free, go for it. I hope he does and at some point in the future, he reports back on here and tells us he is doing well. God bless you Modi.
The irony of your rant may lead some here to think that it is you would may need therapy.
You seem fixated on attacking the man with your application of Pseudo-psychology.
Why is that? Perhaps you should seek some help in understanding why you feel the need.
We are not of a hive mind. We can survive beyond a fixed temperature. We can survive within a range of temperatures. Meaning that a range of perspectives can be considered normal.
Not only that, but Mobi has written clearly and openly about his situation, but yet you still feel the need to cast aspersions.
Why is that? Perhaps therapy would help to change your perspective.
Do you see the simple point that I am trying to make?
roku
in IT and Computers
Posted
Streaming what exactly? The model won't make a difference, as they'll have the same channels available...or not available because of geographical restrictions.
Doesn't mean they don't have their uses. I use both old Now TV box for YouTube and Plex and an old Roku box for streaming from my cloud storage.