Counter Withdrawal/Cash Advance

[4MyEgo]

This question may have been asked before, however I couldn't find it so I will ask it.

 

Can I ask for a "counter withdrawal" or "cash advance" and not be charged a fee and also get the rate that visa give you for the day ?

 

I wish to take over 100k baht from my home country debit card and if I had to use the ATM which only allows me to take 20k baht per time, I would be up for a few baht, just on 100k baht it would be 1,100 baht, so why waste my money when I don't have too.

 

The over the counter withdrawal would come out of my visa debit card from back home and go into my SCB account, just not wanting to get caught out with fees or given the run around.

 

Thanks in advance

Edited August 14, 2018 by 4MyEgo

[Pib]

The great majority of Thai banks do not charge a counter withdrawal fee....also known as a cash advance.  However, Krungsri charges Bt200 fee on Visa cards but zero on Mastercard.   Bangkok Bank didn't charge any fee as of a year ago.  Can't speak to other banks. 

 

This does not mean every Thai bank branch will do a counter withdrawal for a foreign card.   At a small branch like in a mall they may refer you to a full service branch....some small or big branches may not do them at all and they will just point you to their ATM.  It just varies among branches.

 

Since you have a Visa card you would get the Visa exchange rate minus any foreign transaction fee your card-issuing bank may apply for the the "settlement" date of the transaction.  If you had a Mastercard then ditto. The settlement date may be different/later than the actual transaction date.  The settlement date will be  date between the actual transaction and final posting to your card account.   

 

A counter withdrawal is handled as a Point of Service (POS) transaction like when you buy something...so the transaction will first reflect as a Pending status on your account and over the next few business days settlement will occur and the transaction is Posted final to your account.  Being handled as a POS transaction vs an ATM transaction just means there is a different settlement process...takes longer for a POS tranaction...usually a couple of business days to go from Pending to Posted/Final. 

 

When Posted/Final you can do some math by looking at the Visa exchange rate page to determine which exchange rate date was used for settlement.   But when the dust settles you get the Visa exchange rate minus in foreign transaction fee your card-issuing bank may apply. 

 

BE SURE the Thai bank does not process the counter withdrawal as a Dynamic Currency Conversion (DCC) which is that bank's rate and will usually be approx 3% lower than the full Visa/Mastercard rate.  DCC is also when they are actually doing the transaction in your home currency vs baht...be sure the transaction is in baht only.  If you see your home currency and Thai bath reflected on the receipt for signature then it's a DCC transaction....don't sign...tell them to cancel that transaction and rerun as Thai baht.   SCB supposedly does this for "credit card" cash advances; don't know how they handle debit card counter withdrawals.   DCC bad for customer; DCC good for merchant/local bank.

 

Keep in mind your card-issuing bank will have a daily cash disbursement limit on your card...it could be the same whether at an ATM or counter....or it could be higher for counter withdrawal....it varies greatly among card-issuing U.S. banks.  For example a Schwab Platinum  debit card allows $1,000 per day, at either an ATM or counter....but a Capone MC allows $1,000 day at an ATM "plus" $5,000 at a counter.   Just be sure you know what your counter withdrawal limit set by your card-issuing bank.  

 

And also keep in mind the bank you are doing a counter withdrawal at will probably have some limit...you'll just have to ask them.  Recently I did a cash advance at a Krungsri branch and their limit was Bt150K.

 

This means you need to know both the limit of your card-issing bank and the bank branch you do the counter withdrawal at....you can't exceed either.

 

Although below is from the Mastercard exchange rate page, if you just strike out Mastercard and replace with Visa the exact same thing applies for Visa exchange rates/transactions.  I'm just using the Mastercard quote since I think it does a good job of talking exchange rate, settlement date, DCC, etc. 

 

Quote

 

Please Note: The foreign exchange rate and the converted FX amount are indicative only and inclusive of the bank fee you entered. Your bank may or may not use Mastercard foreign exchange rates to bill you and may impose additional fees in connection w.th foreign currency transactions. Foreign exchange rates are specific to the date and time Mastercard processes the transaction which may be different from the transaction date. If your transaction is converted by the merchant or ATM operator, Mastercard foreign exchange rates will not apply. This will usually occur when you select to pay in your card's currency as opposed to the currency of the merchant or ATM.

 

 

 

 

[4MyEgo]

33 minutes ago, Pib said:

The great majority of Thai banks do not charge a counter withdrawal fee....also known as a cash advance.  However, Krungsri charges Bt200 fee on Visa cards but zero on Mastercard.   Bangkok Bank didn't charge any fee as of a year ago.  Can't speak to other banks. 

 

This does not mean every Thai bank branch will do a counter withdrawal for a foreign card.   At a small branch like in a mall they may refer you to a full service branch....some small or big branches may not do them at all and they will just point you to their ATM.  It just varies among branches.

 

Since you have a Visa card you would get the Visa exchange rate minus any foreign transaction fee your card-issuing bank may apply for the the "settlement" date of the transaction.  If you had a Mastercard then ditto. The settlement date may be different/later than the actual transaction date.  The settlement date will be  date between the actual transaction and final posting to your card account.   

 

A counter withdrawal is handled as a Point of Service (POS) transaction like when you buy something...so the transaction will first reflect as a Pending status on your account and over the next few business days settlement will occur and the transaction is Posted final to your account.  Being handled as a POS transaction vs an ATM transaction just means there is a different settlement process...takes longer for a POS tranaction...usually a couple of business days to go from Pending to Posted/Final. 

 

When Posted/Final you can do some math by looking at the Visa exchange rate page to determine which exchange rate date was used for settlement.   But when the dust settles you get the Visa exchange rate minus in foreign transaction fee your card-issuing bank may apply. 

 

BE SURE the Thai bank does not process the counter withdrawal as a Dynamic Currency Conversion (DCC) which is that bank's rate and will usually be approx 3% lower than the full Visa/Mastercard rate.  DCC is also when they are actually doing the transaction in your home currency vs baht...be sure the transaction is in baht only.  If you see your home currency and Thai bath reflected on the receipt for signature then it's a DCC transaction....don't sign...tell them to cancel that transaction and rerun as Thai baht.   SCB supposedly does this for "credit card" cash advances; don't know how they handle debit card counter withdrawals.   DCC bad for customer; DCC good for merchant/local bank.

 

Keep in mind your card-issuing bank will have a daily cash disbursement limit on your card...it could be the same whether at an ATM or counter....or it could be higher for counter withdrawal....it varies greatly among card-issuing U.S. banks.  For example a Schwab Platinum  debit card allows $1,000 per day, at either an ATM or counter....but a Capone MC allows $1,000 day at an ATM "plus" $5,000 at a counter.   Just be sure you know what your counter withdrawal limit set by your card-issuing bank.  

 

And also keep in mind the bank you are doing a counter withdrawal at will probably have some limit...you'll just have to ask them.  Recently I did a cash advance at a Krungsri branch and their limit was Bt150K.

 

This means you need to know both the limit of your card-issing bank and the bank branch you do the counter withdrawal at....you can't exceed either.

 

Although below is from the Mastercard exchange rate page, if you just strike out Mastercard and replace with Visa the exact same thing applies for Visa exchange rates/transactions.  I'm just using the Mastercard quote since I think it does a good job of talking exchange rate, settlement date, DCC, etc. 

 

 

Thanks for the very detailed information, my Mrs just called a friend at BKK Bank, they will do it over the counter for a 200 baht fee, per time, but at their exchange rate, which is about a baht less than visa's exchange rate.

 

I will go into our branch of SCG tomorrow and see what they say, pending the outcome, if I hear anything short of yes sir, we can provide you with over the counter withdrawal for your debit card and give you the visa rate, however there will be a charge of say 200 baht for your daily limit on your card ($2,000AUS), so that will mean two trips, but I can do the other anytime, that equals 400 baht, then I will shut my account of a decade down as my funds are depleted and would make things much easier to start looking around for another bank who wants my business, i.e. my funds deposited into their accounts so they can lend my money to others to make money off of them, and not shaft me at the same time. I say that as I will be in Australia in a couple months and will be bringing back a few $ to deposit into the bank, unless I can find someone with half a brain to take in what I am saying, then they can all go and fark themselves, if you excuse the misspelling.

[Pib]

3 hours ago, 4MyEgo said:

Thanks for the very detailed information, my Mrs just called a friend at BKK Bank, they will do it over the counter for a 200 baht fee, per time, but at their exchange rate, which is about a baht less than visa's exchange rate.

 

I use to use a Bangkok Bank branch frequently for my counter withdrawals...up until around Aug 17.  No fee and Visa/Mastercard rate.  Maybe things have changed.   

 

But if Bangkok Bank is now indeed charging Bt200 plus giving you a lower exchange rate, that is indeed a ripoff. 

 

Not to be augmentative but I wonder if the bank rep and the Mrs had a miscommunication.  There was a TV member just the other day in a similar thread who talked to Bangkok Bank and he said he was told there was no fee and they gave their TT Buying Rate.  The TT Buying Rate is used for incoming wire transfers and usually plus or minus a hair the Visa/MasterCard exchange rate.   Definitely no approx one baht difference.   See below post and then my response right after it.   Now his story and your Mrs story have a big gap between them regarding the same issue....that's why I'm saying there may be some miscommunications. 

 

 

 

 

 

[4MyEgo]

53 minutes ago, Pib said:

I use to use a Bangkok Bank branch frequently for my counter withdrawals...up until around Aug 17.  No fee and Visa/Mastercard rate.  Maybe things have changed.   

 

But if Bangkok Bank is now indeed charging Bt200 plus giving you a lower exchange rate, that is indeed a ripoff. 

 

Not to be augmentative but I wonder if the bank rep and the Mrs had a miscommunication.  There was a TV member just the other day in a similar thread who talked to Bangkok Bank and he said he was told there was no fee and they gave their TT Buying Rate.  The TT Buying Rate is used for incoming wire transfers and usually plus or minus a hair the Visa/MasterCard exchange rate.   Definitely no approx one baht difference.   See below post and then my response right after it.   Now his story and your Mrs story have a big gap between them regarding the same issue....that's why I'm saying there may be some miscommunications. 

 

 

 

 

 

It could well be a miscommunication as my Mrs and her friend were texting back and forth, that said her friend had to ask the branch manager up the road as she works in a branch at the shopping centre so the information could have went any which way, but the way I wanted it, that said, I will go into the local town branch tomorrow and sit down and see what SCB has to say, as I said before if they want to charge me a fee of say 200 baht, I am ok with it as the bank has staff to pay to do things, I get it, but won't be wanting anything different to what my visa gives me on an exchange rate when I make a purchase, whether it be a hotel, a car hired etc etc, it is the visa rate which is basically as good as you can get.

 

If SCB bank do not satisfy me, then I will go to the big town about an hour out in the next few days as I have my 90 day reporting due and I will check out a few banks there and see which one will do it at the visa rate and not the banks rate, and if I find such a bank, SCB in my local town will find mine and my wife's accounts closed pretty soon, and I will be writing a scathing letter to their head office giving them my thoughts.

 

All your information has been noted so as to prepare myself and I thank you in advance.

 

When I sort it, I will provide an update, in the interim, if anyone else has heard of a bank that doesn't charge an over the counter fee or gives you the visa rate, would certainly like to hear which bank it is.

Edited August 14, 2018 by 4MyEgo

[Pib]

A couple of years ago on ThaiVisa there was a thread talking how SCB stopped doing counter withdrawal for "debit cards"....supposedly it was HQ SCB policy and not just some individual branches.  Don't know if actually true...or maybe changed now.  I've just never had any dealings with SCB.

 

On the SCB currency exchange webpage they identify a lower exchange rate (i.e., DCC) for credit card cash advances.  Does not mention debit cards.

 

Today's SCB DCC Rate

[Pib]

26 minutes ago, 4MyEgo said:

... if they want to charge me a fee of say 200 baht, I am ok with it as the bank has staff to pay to do things, I get it, but won't be wanting anything different to what my visa gives me on an exchange rate when I make a purchase, whether it be a hotel, a car hired etc etc, it is the visa rate which is basically as good as you can get.

 

 

Please don't fee bad for the bankster.  The bank still makes an "interchange fee" for the cash disbursement via ATM or counter.   The interchange fee earned for a cash disbursement is the reverse of how it works for a purchase.  In a purchase the merchant/his local processing bank must pay your card-issuing bank an interchange fee.  However for a cash disbursement it's reversed...your card issuing bank must pay the bank disbursing the cash. 

 

 For whatever amount you withdrawal the Thai bank will earn a $1.75 plus 0.33% of amount withdrawn.   For a Bt30K counter withdrawal that equates to around Bt157.  If they throw on another Bt200 fee for counter withdrawal they are now up to Bt357.  And if they also want to give you their lower DCC rate, then they are smiling all the way to the bank (and they are already at the bank).

 

 

[4MyEgo]

10 hours ago, Pib said:

Please don't fee bad for the bankster.  The bank still makes an "interchange fee" for the cash disbursement via ATM or counter. 

Brilliant insight, actually I don't feel for the bank, but try to be fair, service for a fee, that said, now that I know how it works, it provides me with more ammunition for me to push forward.

 

Will update in the next day or so.

 

Thanks again for your knowledgeable input, it does assist.

[4MyEgo]

10 hours ago, Pib said:

The interchange fee earned for a cash disbursement is the reverse of how it works for a purchase.  In a purchase the merchant/his local processing bank must pay your card-issuing bank an interchange fee.  However for a cash disbursement it's reversed...your card issuing bank must pay the bank disbursing the cash. 

Does the bank also charge you their rate at the ATM ?

 

I think I know the answer for that already ?

[sweeneythailand]

i have a caxton card prepaid visa card no charge to load it in the uk from any card   open a bank account in thailand move the money to thai bank also no charge  money now in thai baht 

[Pib]

2 hours ago, 4MyEgo said:

Does the bank also charge you their rate at the ATM ?

 

I think I know the answer for that already ?

Not sure I understand your question.  You get the Visa/Mastercard exchange rate at an ATM minus any foreign transaction fee your card-issuing bank may apply. 

 

AND, this assumes you do not accept a DCC offer if the ATM offers a DCC transaction. You will know it's a DCC offer if they display a screen talking about your home currency and giving showing you an exchange rate & home currency amount you will be charged.  DO NOT accept this offer...read closely the vague working and press whatever button which allows you to continue on to accept the Visa/Mastercard rate and not the rate they are offering you.

 

The Thai bank also earns an interchange fee for that transaction plus the Bt220 fee they will charge.  Banking is a VERY profitable business.

 

 

[4MyEgo]

17 minutes ago, Pib said:

Not sure I understand your question.  You get the Visa/Mastercard exchange rate at an ATM minus any foreign transaction fee your card-issuing bank may apply. 

 

AND, this assumes you do not accept a DCC offer if the ATM offers a DCC transaction. You will know it's a DCC offer if they display a screen talking about your home currency and giving showing you an exchange rate & home currency amount you will be charged.  DO NOT accept this offer...read closely the vague working and press whatever button which allows you to continue on to accept the Visa/Mastercard rate and not the rate they are offering you.

 

The Thai bank also earns an interchange fee for that transaction plus the Bt220 fee they will charge.  Banking is a VERY profitable business.

 

 

You answered the question, the way I see it.

 

I have not used an ATM  with my debit card since I first came to Thailand in 2006 noting the rude shock I received when I returned home after I opened my statement, lesson learned, I think it was about $50AUS in fees for a 2 week holiday, a few ATM transactions, I think it was $10 a go in total per use of the ATM.

 

My option now is to withdrawal the 20,000 baht limit from the ATM, (one) as I figure I will only need one to keep me going until I go to Sydney come 20 October as I have some cash reserves laying around the house which in total will meet my monthly budget, that said, the bank that I have banked with for over a decade back in the old country, ING will pick up the tab as they have an offer that if you deposit $1,000 from an external account and make 5 transaction (settled) in that month, all ATM fees including international ATM fees, and the usual 2.5% on international transaction fees for purchasers are waived, the trick is, you have to do it in the following month, e.g. make the ATM withdrawal in September (too easy) yes they pay all the costs, including the international banks fee at this end.

 

The above said I just got an email advising me that the Powerball draw tomorrow is $100,000,000 so I just had to buy a ticket, which coincidentally took me to 5 transactions for the month and I always deposit $2,000 from my wife's external account into my account every month to get the benefits, although I don't usually purchase anything or use the debit card from back home when I am here in Thailand, so it pays to pay attention to their rules, that said, might not need to make the withdrawal next month because I think tomorrow night I will be a little richer, well one can dream oi.

 

Will still go into the bank to see what gives for the over the counter/cash advance regarding fees and rates just to find out if its a viable solution if I need to access funds in the future as I have also noticed the usual mob that I use don't come anywhere near the visa rate, regardless of them not charging a fee, it's like 3,700 baht difference on $5,000AUS

[4MyEgo]

6 hours ago, Pib said:

The Thai bank also earns an interchange fee for that transaction plus the Bt220 fee they will charge.  Banking is a VERY profitable business.

So here is the update, went into the SCB branch at the local town, wife explains what I want in Thai/Laos whatever, the guy says you have to use the ATM as SCB only allow credit cards to be used for cash advances, (you mentioned this previously), that said, my wife asked if the ATM machine would be at the visa exchange rate or the bank rate, he said, there is pretty much of a muchness, the Thai rate at the moment is 24.65 for AUD which I nearly fell over laughing as I know the visa rate is 24.41 today, that said, my wife asked what charge is it to use the ATM machine for the transaction and he said the machine will tell you.

 

So as you can see, we will be closing our 10 years plus accounts with SCB, but not before we find a bank to accommodate us in our town, because I am told by my wife that if we open an account an hour up the road in different provinces, each time we make a withdrawal in our town we will be charged for the withdrawal which is the same with SCB bank, I know this because I deposited some money in Phuket years ago, having just returned from Australia and had a weeks holiday there before flying up to the north-east and I was charged for the deposit which I found odd, that and I was charged for withdrawals on my SCB card in Phuket.

 

These bastards have it down pat, but I will be turning over stones and if need be, won't be using the bastards at all as I will bring enough $'s back from Australia to last me till the next time I go back, I will exchange it at Phuket when I return as I have 3 days there before flying up here, and will keep some Aussie $'s to exchange at the gold shops in the big town as there is one that gives good rates, although will have to wait a while for it to go up.

 

Tomorrow I will see what the big town banks say about me wanting to do an over the counter, cash advance on my debit card and when I have an answer will update again, because I am always in the big towns at least once a week and can just go in and withdrawal over the counter as I please, i.e. if I get the visa rate, and like I said, I don't mind paying a reasonable fee like the ATM once (200 baht) because I would be taking out 60k baht at a time, which is the cards limit at an ATM machine.

[Pib]

 

Was looking up a KrungThai Bank related fee and happen to notice they now also charge a Bt200 counter withdrawal fee.  And I find it almost unbelievably greedy that if a person is stupid enough to accept a DCC transaction where they give you a lower 3% exchange rate they still charge the Bt200 fee.

[jackdd]

When i did it the last time at SCB (using a Mastercard credit card) they charged 180THB. The charge on my card was in THB (you have to sign the receipt like when you pay in a store, so there you see which currency they charge, and if it's THB you get the rate from your credit card), so the Mastercard exchange rate was applied.

A while ago i also did it at UOB, they didn't require an extra fee.

[Pib]

Krungsri Bank's policy since around Oct 17 for counter withdrawals is Bt200 for a Visa card but no charge for a Mastercard. 

 

But if using their ATM it's Bt220 for Visa or Mastercard.

 

You get the Visa/Mastercard exchange rate at an ATM or counter unless their ATM happens to offer a DCC transaction and you accept it...then the rate is around 3% lower than the Visa/Mastercard rate.

Edited August 16, 2018 by Pib

[4MyEgo]

12 hours ago, Pib said:

Krungsri Bank's policy since around Oct 17 for counter withdrawals is Bt200 for a Visa card but no charge for a Mastercard. 

 

But if using their ATM it's Bt220 for Visa or Mastercard.

 

You get the Visa/Mastercard exchange rate at an ATM or counter unless their ATM happens to offer a DCC transaction and you accept it...then the rate is around 3% lower than the Visa/Mastercard rate.

Below is an extract from an email I received from ING Bank yesterday from my enquiry regarding their debit card fees, of which I have been a holder for over a decade and have really enjoyed their superior banking service then any other bank I have dealt with in Australia, we won't even talk about bank staff in Thailand !

 

What they have said in a nutshell, is that if I qualify, which I do as I have deposited $1,000 from an external account into my account and made 5 transaction for the month, but Powerball still haven't notified me as the winner of last nights $100,000,000 AUS winner...lol

 

Now that I have found a way around this debacle, I won't flick SCB yet, but they are on my list of things to do down the line, in the interim I will be checking out banks policies that suit me before I make a switch, having SCB for about a decade has been convenient as I am familiar with using their card and internet for mobile top ups, however I am sure that wouldn't be any different to using a new banks system.

 

I have enough to keep me going to the 1st of next month and as ING Bank have advised me that there is also no limit as to the amount of withdrawals I can make, I might just keep withdrawing so as not to keep carrying a lot of money back from Australia, providing the visa rate is given to me and reasonable. Before going hell for leather, I will check my statement after the 1st transaction on that day and see what the rate applied is, e.g. visa or bank, if the latter I will take out what I require and stop and wait till I go to Australia the following month. 

 

Provided the below conditions are met the month prior, there is no limit to the number of times you can use the ATM or card for purchases and you will be rebated each time.

 

If you meet the following criteria, you will be eligible for Domestic and Global ATM fee rebates, as well as ING International transaction fee and foreign currency conversion fee rebates on card purchases:

• make a deposit from an external account of $1,000 or more each month into any of your personal ING accounts (excluding Living Super and Orange One) and also make 5 or more  settled card purchases using your ING debit or credit card each month – you’ll be eligible the following calendar month. Card purchases exclude ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions.

[4MyEgo]

12 hours ago, Pib said:

Krungsri Bank's policy since around Oct 17 for counter withdrawals is Bt200 for a Visa card but no charge for a Mastercard. 

 

But if using their ATM it's Bt220 for Visa or Mastercard.

 

You get the Visa/Mastercard exchange rate at an ATM or counter unless their ATM happens to offer a DCC transaction and you accept it...then the rate is around 3% lower than the Visa/Mastercard rate.

Also thanks for the information on Krungsri Banks policy regarding charges, but we don't have one in the local town, Bangkok, SCB, Kasikorn and a government savings bank only, that I know of, and if we went to the big City which is an hour out, I am sure they would charge us if we took money out of another banks ATM with their card at our town on each occasion.   

[Pib]

 

13 hours ago, Pib said:

Krungsri Bank's policy since around Oct 17 for counter withdrawals is Bt200 for a Visa card but no charge for a Mastercard. 

 

But if using their ATM it's Bt220 for Visa or Mastercard.

 

You get the Visa/Mastercard exchange rate at an ATM or counter unless their ATM happens to offer a DCC transaction and you accept it...then the rate is around 3% lower than the Visa/Mastercard rate.

 

Didn't have time to find and post the extract from the Krungsri fee schedule last night regarding the their counter withdrawal fee for a foreign card.  Notice the fee applies to Visa cards only...no mention of Mastercard.  And just last week I did a counter withdrawal at a Krungsri branch with my foreign Mastercard debit card---no Bt200 fee.   Guess for right now Krungsri can't charge a counter fee on Mastercard....maybe due to some contractual agreement they have with Mastercard....who knows.  

[4MyEgo]

2 hours ago, Pib said:

 

 

Didn't have time to find and post the extract from the Krungsri fee schedule last night regarding the their counter withdrawal fee for a foreign card.  Notice the fee applies to Visa cards only...no mention of Mastercard.  And just last week I did a counter withdrawal at a Krungsri branch with my foreign Mastercard debit card---no Bt200 fee.   Guess for right now Krungsri can't charge a counter fee on Mastercard....maybe due to some contractual agreement they have with Mastercard....who knows.  

I would assume that they applied the visa exchange rate as opposed to their own ?

[Pib]

1 hour ago, 4MyEgo said:

I would assume that they applied the visa exchange rate as opposed to their own ?

Yeap.....you get the Visa or Mastercard rate depending on the card used.

[4MyEgo]

7 minutes ago, Pib said:

Yeap.....you get the Visa or Mastercard rate depending on the card used.

Thx good to know, I just sent them an email asking a variety of questions as discussed here, if they don't reply, as we will be in a big rural City tomorrow, we will visit a branch and ask the questions and see what they come up with and I will then update, as I will, if and when I get a reply from my email, which I doubt will happen due to reading interpretations from the other end?

Edited August 17, 2018 by 4MyEgo

[4MyEgo]

On 8/16/2018 at 10:28 PM, Pib said:

 

Was looking up a KrungThai Bank related fee and happen to notice they now also charge a Bt200 counter withdrawal fee.  And I find it almost unbelievably greedy that if a person is stupid enough to accept a DCC transaction where they give you a lower 3% exchange rate they still charge the Bt200 fee.

I forgot to ask, is there an over the counter limit per day at Krungsri, I am going in tomorrow so just want to make sure I know what I am talking about, i.e. 200 baht charge for over the counter and at the visa rate for the day. 

[Pib]

4 hours ago, 4MyEgo said:

I forgot to ask, is there an over the counter limit per day at Krungsri, I am going in tomorrow so just want to make sure I know what I am talking about, i.e. 200 baht charge for over the counter and at the visa rate for the day. 

The branch I used had a Bt150K limit.  Don't know if it applies to all Krungsri branches or just the one I used.

[4MyEgo]

4 hours ago, Pib said:

The branch I used had a Bt150K limit.  Don't know if it applies to all Krungsri branches or just the one I used.

Thanks for that, as my card has a $2,000AUD limit on it, I calculate the visa rate as at today to be 1 AUD = 24.391365 THB x 2000 = 48,782.73 less the 200 over the counter fee.

 

Will update Monday on the outcome, I did see somewhere that they also charge 0.05% on top of the withdrawal, but will see what Krungsri come up with when I visit them tomorrow, no doubt the exchange rate will be higher, I hope ?

[Pib]

7 minutes ago, 4MyEgo said:

Thanks for that, as my card has a $2,000AUD limit on it, I calculate the visa rate as at today to be 1 AUD = 24.391365 THB x 2000 = 48,782.73 less the 200 over the counter fee.

 

Will update Monday on the outcome, I did see somewhere that they also charge 0.05% on top of the withdrawal, but will see what Krungsri come up with when I visit them tomorrow, no doubt the exchange rate will be higher, I hope ?

Recommend you ask for a little less than your card limit to avoid the possibility of the transaction being rejected.  Take a look at the card network exchange website the day you plan to do the withdrawal....do some math to see what you max baht amount would be and then I would recommend ask for a little less to avoid an over limit rejection by your card-issuing bank.

[4MyEgo]

3 minutes ago, Pib said:

card network exchange website

?

[Pib]

1 minute ago, 4MyEgo said:

?

Visa or Mastercard exchange rate page.

[4MyEgo]

Just now, Pib said:

Visa or Mastercard exchange rate page.

That was the plan before I head out, so as to compare rates with rates, just in case they try to give me the DCC rate, which ain't gonna happen ?

[Pib]

14 minutes ago, 4MyEgo said:

That was the plan before I head out, so as to compare rates with rates, just in case they try to give me the DCC rate, which ain't gonna happen ?

You will know if it's a DCC rate if the receipt of signature reflects AUD "and" THB.  If it does, don't sign...tell them to cancellation that transaction and rerun in Thai baht.  The receipt for signature must only reflect THB.

 

Krungsri shouldn't attempt a DCC...they never have on me.  It's just apparently now they charge a Bt200 counter withdrawal fee on a foreign Visa card but not Mastercard....this is per there fee schedule.

 

Some people when doing a counter withdrawal just ask for what their max limit is in the home currency....like asking for 2K AUD in your case.  What the bank then does is usually use their Note rate to determine how much baht 2K AUD is so they have a baht figure to key into the POS machine.

 

That Thai bank Note rate is not the rate you get...it's just the rate they use to ballpark your request into a baht figure....the Visa/Mastercard exchange rate will be the one used to accomplish the AUD to THB exchange hitting your bank account unless they are attempting a DCC transaction.  Since the Note rate is usually used to ballpark the number to punch into the POS machine that makes some people think the Note rate is being used for the exchange.

 

I prefer just to avoid that ball-parking by the bank rep...and I figure it might help to avoid the bank rep from doing a DCC transaction since the customer asked for AUD (or USD, GBP, whatever) versus THB.

 

 

Edited August 19, 2018 by Pib