Wandr

4 hours ago, orientalist said:

The e-savings account doesn't appear anywhere on my online banking screen. I'd better go back and ask if they can manually add it for me as that would be more convenient. I didn't really want the app in the first place, but they were really pushing it. Since I will only use PromptPay once a year I really don't care which bank I register it with, so I'm quite happy to go with Thanachart if it gets me 1.8% interest - the same as banks usually offer for a 2-3 year fixed deposit account.

Accounts do not automatically appear on Thanachart's online account page.

If you open a new account you have to use the menu to add it to your page.

I don't remember it offhand but I think I can figure it out later. If you haven't found it by then I will post the instructions.

On 5/1/2017 at 7:42 PM, orientalist said:

Today I signed up for Thanachart's e-savings account. Took me one hour. There are a couple of catches - the first is that you only get the full 1.8% interest if you sign up for Prompt Pay with them (otherwise you get 1.4%), the second is that you can only operate the account with the mobile app but not Thanachart I-net (online banking).

 

This wasn't my regular branch. First they called their expert at the call centre who said that foreigners couldn't apply for Prompt Pay. I logged into K-bank's online banking and showed them my registered Prompt Pay. They then called someone else who said foreigners can indeed have Prompt Pay. But it turns out you can't have two Prompt Pay accounts on one phone number (apparently Thais can have one on a phone number and one on their ID number), so I had to cancel the one with K-bank. After that it was just form-filling and signing. I downloaded the app and got logged in OK. They gave me an account book cover with the account number, but no pages inside, just for reference I guess.

 

So the way it works is you use the app to transfer money in from or out to your savings account, and access that savings account in the normal ways. Interest is variable and paid twice a year. Frankly, it isn't ideal for long-term savers because you have to have their app on your mobile just to make the occasional deposit or withdrawal, and having a lot of money accessible via phone is something I try to avoid. They even have a "remember me" option on the app login. 

I have an e-savings account and I use their regular online banking to make transactions. I do not have their app, on phone or computer.

I do not have PromptPay - don't know if that makes a difference for accessing the account.

34 minutes ago, Pib said:

You asked a question and refuse to give any details of your transaction such as your card/any associated fees, amount of transaction, date of transaction, etc.   You just say your math comes up with a 0.08 baht lower exchange rate.   You have been given multiple and specific examples of withdrawals using Krungsri ATMs where the Krungsri exchange rate matches the Visa exchange rate exactly for a no foreign transaction fee card.  You have repeatedly been asked for details but refuse to give any.  So, why did you even start this thread other than maybe to troll responses? 

What makes you think your calculation is better than mine? I have already proven that you cannot think straight.

See my reply above and stay out of discussions if you have nothing to contribute.

You are simply wasting everyone's time.

1 hour ago, puck2 said:

Because "anyone" - including you- will know more then me, why couldn't you solve the exchange-rate-difference-problem by yourself?

You remember me Trump. People with an open brain would like to deliver the requested details in order to be able to solve the problem. Again: you are to lazy to read the terms of your VISA-Card concerning the exchange rates.

 

Because it wasn't an exchange rate problem.

It was a very simple question about whether anyone had experienced Krungsri short changing people in some manner.

You don't know it then you stay out of the discussion. Simple.

No one is asking for your supposed expertise. You don't have any as far as most people are concerned.

Now find something useful to do.

12 hours ago, puck2 said:

Although  "one mayor bank in Switzerland" sets its own rates, the general rule is that the banks (of the issuing VISA-Card) refer to the exchange rates of VISA, re.Visa Europe.

 

Because @Wandr doesn't want to write details of the "not always given Visa rate" it's completely useless to go on with the discussion.

 

He seems to be too lazy to look into the visa-card-conditions of his bank. I, i.e., can read that my bank uses the exchange rates (in advance) published by VISA.

 

 

 

 

 

 

People with limited knowledge frequently get into this box - that they know a lot.

I have no desire to share any details with people like these. I asked a question, no one had an answer, now take a hike.

12 hours ago, puck2 said:

May I give you an advice. Call "God"  to get an answer to your problem. You can find the telephone number in every phone book, or you must google. If that all doesn't work please ask a priest for the number

I would say just about anyone will know more than you!

God help me from so-called internet experts!

I did not ask anyone to analyze my transaction, though I suppose I should thank you for the effort.

And don't keep saying that the calculation was incorrect. Here is what the expert above (PIB) said in his or her post:

"  If included with the cash amount withdrawn be sure you backed out that 220 charge before doing the rest of your exchange rate calculations. "

Totally illogical and incorrect. And I should believe a person like this about anything financial?

I have done a search on the net and found other references specifically about Krungsri Bank charging more than others. The easiest course for everyone is to steer clear of this bank.

But if anyone posting on here is a Krungsri employee or agent then post your details, and I will drop by your office with information about my transaction.

Thanks once again for the effort made by posters.

22 hours ago, Pib said:

Since .08 baht lower works out to approx 0.2% you might want to check to see if your card issuing bank has possibly started charging the Visa conversion fee which can range from approx 0.15% to 1%.  A person will typically here the Visa/Mastercard conversion fee as being 1% but it can vary depending on the contract your card-issuing bank has with Visa/Mastercard.   CapOne cards supposedly pass along (or use to pass along) approx a 0.2% conversion fee.

Unfortunately, none of the above applies. It would have been much simpler for me to know the cause for the deviation in exchange rates than to be kept wondering.

This is the second time (I believe) this has happened with Krungsri, so I can only assume they have manipulated the rate somehow.

But my solution is to stick to Bangkok Bank, which has been accurate so far. I will check periodically, though. Krungsri may have ripped me off for 70-odd baht, but I will have the satisfaction of knowing that they won't get my business any more. And perhaps someone else who has read this post will also stay away from them.

None of the above conditions apply, so I am thinking maybe they can charge what they want and the Visa exchange rate concept is not foolproof.

I will have to stay away from other banks and stick to Bangkok. Even there, I think we should check periodically to see what rate they are giving us, as opposed to what we think we should be giving.

I have never been given a screen where they ask about exchange rate calculation, or even what rate is being offered. The only extra information is about the 220 baht charge which I agree to obviously. (The charge needs to be included in the exchange rate calculation, because the bank is withdrawing your specified amount plus 220 baht from the overseas bank.)

As many others have mentioned, so far the excess charge has not been large. But unless we calculate we won't know. Besides, why throw away money, however little?

1 hour ago, KhunBENQ said:

One possible explanation is the time of withdrawal compared to the time you checked the rate.

It's long ago but when I used VISA the "today" rate changed at 11 AM Thai time.

Seems it was fixed to some US timezone.

I would have to check whether this still applies.

 

It wasn't the time because the previous day's rate was quite different from what I got.

And the current day's (higher) rate remained the same for the rest of the day .

It has been stated several times here that when withdrawing money from an ATM with a VISA branded debit card, the exchange rate applied will always be the day's rate set by Visa.

This was reiterated in a thread that is currently active.

Well, I had withdrawn money from a Krungsri ATM and felt that the rate was not quite what it should be (USD). But I did not verify.

Today I checked. The rate given by the Krungsri ATM was lower by .08 baht than the rate that Visa is supposed to have set, as I see it on the web. (Including the 220 baht bank fee.)

It was a straightforward transaction,  no questions about how the rate should be calculated, or anything unusual.

I am going to stick to Bangkok Bank ATMs from now on. But I wonder what the banks have come up with that allows them to monkey with the rate.

On 04/22/2017 at 6:52 PM, Sparkles said:

 

Progress ? In the last couple of years we have seen the bar code in passports fall over (great idea, saving endless waste of paper)

The online appointment (great idea) gone, it appears forever.

The online 90 day reporting (great idea) again saving endless paperwork) gone

 

So can we  agree that we should not expect anything will change in the near future and people should be free to do what they please to navigate through this chore.

And hopefully we can agree it could be a lot fairer and more efficient.

 

 

 

Maybe not relevant to CM but some information about other offices is always revealing.

I went for my 90 day to Jomtien last week. The officer, who recognized me, asked where the barcode was. I didn't even know what he was talking about . He explained that he had attached a barcode to my passport. This being the receipt for the last report that I had discarded because I had been out of the country.

Keep the old one he said. If you have the barcode you don't have to bring any paperwork except for the form. He returned all the paperwork to me.

This visit set a record for me . From the moment I took the queue number to the moment I got my passport back was less than 10 minutes. I told the officer as much.

 He just smiled.

It can happen in Chiang Mai too.

To add a little more to the cautionary tales, you will not always get asked which currency you want to use.

Using a credit card here I have been charged using an exchange rate calculated by the local bank.

It is best to tell them beforehand "charge me in Thailand baht " or something similar.

That way the conversion rate is decided by your own bank.

7 minutes ago, simoh1490 said:

The results page provided by the lab will show an accreditation reference number, in the case of CMU it is 4126/55.

So I won't know beforehand if a lab is accredited?

If anyone knows a bit more about this accreditation then maybe I can look for it or even ask them.

On 01/09/2017 at 5:45 PM, chiang mai said:

Almost any hospital clinic or lab will offer the PSA blood test but as said, the lab to test the sample needs to be accredited.

Accredited by whom?

Do the independent clinics display the accreditation prominently?

14 hours ago, SunsetT said:

What interest rate can one get on savings in Thailand these days please on say the 800000k for the reirement visa? And is tax payable on it?

1.5 % can be had pretty easily on a savings account .

But banks will deduct Thai income tax . CIMB website talks about NOT taking tax. You will need to follow up with them and maybe some other banks

.

On 4/24/2017 at 1:49 PM, KhonKaenKowboy said:

CIMB SPEED SAVINGS PREFERRED......Visa debit card...no interbank fee no inter province fees...unlimited, at ATM.  most banks take 50 THB for a counter withdrawal, but since it isn't itemized, many think it is free; it is not.  Get 20000...you actually get the visa rate for 20050 in your currency on your statement, and are handed 20000.

There is a big catch to it, as I had suspected.

I asked CIMB, and they said the inter regional fee will only be waived if I deposit 1 million baht. To me that is a much worse deal than just paying the inter regional fee when needed.

The interest rate they are offering is not attractive either. I get the same rate from Thanachart on an account with no minimum deposit requirement.

Banks are not for free, I realize. They will try to get money out of us. In turn, we need to find the best deal for our particular circumstance.

18 hours ago, TallGuyJohninBKK said:

 

 

With ATM withdrawals using their own cards, however, there are some exceptions. For Thai banks and their own ATM cards, I think most of them will allow users up to 4 or 5 ATM withdrawals per month from a DIFFERENT Thai bank without any fee. But I'm not sure if that no fee waiver applies to using the SAME bank's ATMs outside the region of your home branch.

 

However, there are some exceptions to that general fee practice: I seem to recall TMB having one particular account that supposedly has no use/transaction fees inside Thailand. And perhaps some of the other banks have some similar arrangements, though I suspect they're more the exception than the rule.

 

They charge the inter-regional fee even when you use their own card in their own ATM outside the home region.

I doubt that they are going to let you use their card at another bank outside home base without a fee.

Yes, some of them do have accounts that waive the inter-regional fee. However, as I mentioned in my post, they make up the money - and more - in other ways. I looked into CIMB, which was mentioned here, and I will write what I found in a separate post later.

2 hours ago, Ross Macdonald said:

I have a BKK Bank account, my home branch is Chiang Mai, I can use my card anywhere in Thailand without paying ATM fees. I haven't tried using it outside of Thailand though so I can't comment on that. I have found this account to be the best way to access money from my Australian account as I transfer A$10,000 at a time to my BKK Bank account at a cost of only A$22, and then i don't have to pay ATM fees every time i withdraw 5 or 10,000฿

Bangkok Bank (especially) is sure to be getting its money from you in some way. Either the fee is not transparent, or you have a type of account that gets them money - e.g. a large deposit with a low interest rate.

In Thailand, if you do any transaction outside your home district, the bank charges you a fee for everything.

I have first hand knowledge of four leading banks. I have a Bangkok Bank account in Chonburi. I wanted to deposit money in it after a transaction in Bangkok. The counter staff wanted to charge a significant fee just for this simple transaction. I declined and made the deposit later in the home area.

Kasikorn charges a minimum 25 baht for ANY transaction if made outside home district. This is for small amounts. Obviously it will be more for larger amounts.

Thanachart staff, who know me well, informed me candidly that it will be much better for me to close their account and open new ones if I move outside the home district area because of the fees charged.

And do on...

Which is why I was interested when a poster said he pays no fees for transactions made outside home base. I will visit CIMB and report back. I hope this feature is still available and  there is no catch.

55 minutes ago, TallGuyJohninBKK said:

It's a common misconception that people think that they will get different exchange rates from different ATMs, depending on which bank company they belong to -- the same way different banks post different exchange rates every day for cash exchanges and wire transfers.

 

But, for ATM use, it doesn't work that way.  When you go to use a Thai bank ATM with a VISA or MC logo debit card (unless you voluntarily agree to Dynamic Currency Conversion with the MasterCards, which you should NEVER do), the rate you'll get will be the VISA or MC network rate for the day.  The Thai banks own internal rates have nothing to do with ATM withdrawals.

 

 

Does the above mean that there is only one exchange rate set per day by Visa or MC, and I will get that rate irrespective of the prevailing rate?

Exchange rates fluctuate throughout the day, sometimes by a significant margin. When I withdraw cash from an ATM with a Visa card, will the Visa rate not reflect these continual changes?

Also, what is a good place to check the prevailing Visa/MC rate?

Thanks.

A short and late note on the subject.

At PowerBuy, avoid the "Mamaru" brand that they stock a lot of. These are much cheaper, look good, and are a temptation.

But they are really badly made.

I have bought four items - two fans, a toaster oven, and a hotplate - and ALL of them broke down in about a year. The controls broke on three of them, and I forget what the fourth problem was.

Now I pay more and buy one of the mainstream brands.

On 04/22/2017 at 11:33 PM, KhonKaenKowboy said:

  But,  I use my Thai bank for ATM, I can use any Thai Bank nationwide and not pay a fee...unlimited times per month.  And get 1.5% APR, paid monthly...free card, free first year...then 100 THB per year. 

You have thrown in several items in your post.

Can you clarify the above?

Do you mean you have an account with a Thai bank that allows you to use their ATM card anywhere in Thailand without any fees? Withdrawals, at ATMs or counter with no fee even outside your base area?

If so which bank and what type of account.

Thanks.

Home Pro had a section with  bunch of different wheels in many shapes and sizes . Surprised there was nothing to meet your needs .

18 minutes ago, scottiejohn said:

It was stated earlier in this thread that false posts were being made elsewhere by ‘newbie’s’. Could you be a certain person’s ‘Newbie’ on this thread?

 

PS;  Welcome to our cesspool!

 

 

No.

2 hours ago, NancyL said:

Actually, the idea of paying 500 baht for an expedited C of R doesn't esp. bother me, because this is something that's practiced in other provinces.  It's just the tip of the iceberg here.

 

Once a embassy official said to me, "Nancy, we know all the police in Thailand are corrupt and they pay to get their positions.  Immigration are part of the police and they've had to pay obtain their positions, so they need to recoup their investment through their jobs.  How do they do this in other provinces?"  I'd done research on how elderly expats are handled in Pattaya and Phuket and found this to be a very interesting question.  The answer seems to be that Bangkok turns a blind eye to the widespread practice of Imm. offices charging a modest fee for expedited C of Rs.  In many provinces it's 200 or 300 baht.  Chiang Mai is among the highest at 500 baht, but others are this high.  

 

So, the practice of charging for a C of R isn't "Chiang Mai specific".

 

What is "Chiang Mai specific" is the practice of severely limiting the number of marriage and retirement extensions granted each day to walk-in "retail customers" while visa agents can jump the queue and making it almost impossible for new arrivals to execute a visa conversion without the aid of an agent.  And the need for the elderly to arrive at zero-dark-thirty to wait in the dark as mosquito bait for their queue tickets.

I totally agree with you .

I believe people who are making so much noise about perpetuating a corrupt system are either touts themselves or paid by touts.

Everyone has the right to hire an agent. Sure.

But everyone also has the right to obtain the same service directly and without undue stress. And that doesn't exist in Chiang Mai it seems.

I feel sorry for people who believe that that is the way things should be. They must really have had their faces trodden in the mud in the past.

At Jomtien the only service we pay for is 200-300 baht for the residence certificate. It is usually ready in 30 minutes.

90 day report? Show up at 10 am. You will be in and out in less than an hour. Sometimes 15 minutes.

Annual extensions? Less than an hour to submit paperwork. Pick up next day in 10 minutes.

All done with a smile. No extra money needed.

When you have a system like that and people still want to use agents, well no issues there.

Chiang Mai? Sounds like a cesspool.

I guess some people just like cesspools!