Counter Withdrawal/Cash Advance

[4MyEgo]

4 minutes ago, Pib said:

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.

 

 

Will make sure I have calculated the visa rate x what I am going to take out and if its any different to that, I will be asking questions. I will make it less than the limit as you suggest, say 48,000 baht as opposed to 48,752 baht and make sure it says THB and not AUD & THB.

[4MyEgo]

On 8/19/2018 at 7:08 PM, 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.

Update:

 

Went into a Krungsri branch in the big City with the wife today and asked what the charge was for an over the counter withdrawal on an international debit card visa, the young lady replied 200 baht, good, and what is the limit, 150,000 baht, good and what rate do we get, whatever the visa card gives you on the day, perfect ?

 

So, this works well for me in case of an emergency situation, but as I go to Australia every 18 months, I usually bring back enough to last me for that period, that said, I will fall one month short of my budget come 1 September as I outlayed 60,000 baht earlier than expected to have our place insulated, and worth every baht.

 

Come 1 September, I will be off to an SCB bank ATM at our local town where I hold my account and will make one withdrawal of the limit 20,000 baht per transaction and I will stop there and wait a few days (up to 5) to see what comes up on my bank account statement and if I got the visa rate after pressing credit on the atm machine and see if ING bank reimburses me their ATM fee of $2.50c AUS (60 baht) and the 200 baht ($8.20c AUS) fee that SCB charge, the total of 260 baht or $10.70 to take out 20,000 baht or $820.00 AUS which is around 1.3%, if it works in my favour I will go back and continue making the free withdrawals up to my monthly budget amount as the amount of times I can withdraw for September are unlimited and it will work nicely for me.

 

Now that I also know that Krungsri bank only charge 200 baht for an over the counter withdrawal, I will email ING bank and ask if they have any charges if I use a bank in Thailand to do an over the counter withdrawal, as it's not technically and ATM withdrawal, I will want to know if there are any charges, and if it is the same I will know that I will have to wait till I qualify again for a future following month, providing I satisfy their offer of making 5 transaction in the previous month and depositing $1,000 into my account from an external account.

 

While I am emailing them, I will also ask them if my daily limit of $2,000AUS on my debit card (my money) can be raised to say $4,000-$5,000 just incase I want to take out the 150,000 baht limit from Krungsri bank for the once only fee of 200 baht.

 

Thanks for all your assistance and advice lads. 

[Pib]

1 hour ago, 4MyEgo said:

Update:

 

Went into a Krungsri branch in the big City with the wife today and asked what the charge was for an over the counter withdrawal on an international debit card visa, the young lady replied 200 baht, good, and what is the limit, 150,000 baht, good and what rate do we get, whatever the visa card gives you on the day, perfect ?

 

Good to hear it worked out.  And since the the Krungsri branch you used had the same Bt150K limit as the Krungsri branch I used here in Bangkok that strongly suggests to me that would be the limit at every Krungsri branch for a counter withdrawal using a foreign card.

 

And if you ever get the chance to get a Mastercard debit card, at this point in time Krungsri does not charge the Bt200 fee....only on a Visa card for some reason.

[4MyEgo]

10 hours ago, Pib said:

Good to hear it worked out.  And since the the Krungsri branch you used had the same Bt150K limit as the Krungsri branch I used here in Bangkok that strongly suggests to me that would be the limit at every Krungsri branch for a counter withdrawal using a foreign card.

 

And if you ever get the chance to get a Mastercard debit card, at this point in time Krungsri does not charge the Bt200 fee....only on a Visa card for some reason.

I think if you weigh up the charges you will pay on a debit card for a cash withdrawal, that would outweigh the 200 baht fee pretty quick smart, so the 200 baht fee for 150k withdrawal is just fine.

 

I also emailed my bank last night asking them how they treat an over the counter withdrawal over here, e.g. is it treated the same as an ATM transaction, and if that is the case, it will be free for me next month as I qualified for their free ATM withdrawals in September, if not, they would be up for multi payments to the ATM bank that I will be using, so it would make sense that they treat it as an ATM transaction ??

[Pib]

I doubt your home country bank will reimburse a fee for a counter withdrawal (none of my banks do); but reimbursement of ATM Use fee is different...a can-do.

Edited August 21, 2018 by Pib

[4MyEgo]

9 hours ago, Pib said:

I doubt your home country bank will reimburse a fee for a counter withdrawal (none of my banks do); but reimbursement of ATM Use fee is different...a can-do.

Thanks for that, I am waiting to hear back from my bank on their policy regarding over the counter reimbursements, i.e. you guys (the bank) can pay for 3 ATM fees per day while I withdraw my daily limit out everyday for the month of September as far as I am concerned or advise me that you will accept an over the counter withdrawal as the same as an ATM withdrawal, however with one fee, "up to you" as the Thai's say.

 

While I am here, I went to do my 90 reporting today in the opposite direction to the Krungsri bank that I visited yesterday, and the staff member at this Krungsri bank at this big town when asked the same questions as I asked the other teller in the other town, i.e. what is your fee for an over the counter withdrawal using an international debit card, her reply was 3%, what is the limit, 150,000 baht she replied, I forgot to ask her about the exchange rate, e.g. is it the visa rate or the DCC rate, anyways I was too busy correcting her, as I again said it is a debit card and it should be a 200 baht fee and showed her a photo that I took of your post stipulating the charges for a debit and mastercard, and she started typing on the keyboard looked at the screen and said yes sir it is 220 baht for debit card, suffice to say, I wasn't going to correct here again, i.e. 200 baht.

 

So if I make a withdrawal next month from Krungsi bank pending ING banks reply to my email, it won't be at that branch.

[Pib]

31 minutes ago, 4MyEgo said:

While I am here, I went to do my 90 reporting today in the opposite direction to the Krungsri bank that I visited yesterday, and the staff member at this Krungsri bank at this big town when asked the same questions as I asked the other teller in the other town, i.e. what is your fee for an over the counter withdrawal using an international debit card, her reply was 3%, what is the limit, 150,000 baht she replied, I forgot to ask her about the exchange rate, e.g. is it the visa rate or the DCC rate, anyways I was too busy correcting her, as I again said it is a debit card and it should be a 200 baht fee and showed her a photo that I took of your post stipulating the charges for a debit and mastercard, and she started typing on the keyboard looked at the screen and said yes sir it is 220 baht for debit card, suffice to say, I wasn't going to correct here again, i.e. 200 baht.

Sometimes it seems a person might get an more accurate answer from the security guard at the bank versus the bank rep. ?   Sounds like the bank rep was getting things confused with an ATM DCC transaction.  Yeap, just ask the security guard next time.  ?

[4MyEgo]

12 hours ago, Pib said:

Sometimes it seems a person might get an more accurate answer from the security guard at the bank versus the bank rep. ?   Sounds like the bank rep was getting things confused with an ATM DCC transaction.  Yeap, just ask the security guard next time.  ?

Update: Below is the reply I received from ING Bank today, remembering that I have met the criteria and the below applies to me for September.

 

A little confusing in the reply is the Cash withdrawal at an international branch i.e. she is saying that the cash out through a branch/over the counter limit is $1,000AUS and is not sure if the bank can override this limit themselves (if they want to) or it is locked in.

 

So the way I read this is that I can access my daily limit, i.e. $2,000AUS at Krungsi bank (over the counter) as they have a limit that is over $,1,000AUS and ING bank will not charge me 2.5% fee.

 

Do you read the same Pib (4 eyes are better than 2) ? 

 

Edit: Perhaps I should play it safe and just withdrawal 40,000 baht per day from the ATM daily at the local town after I drop off the kids to school ( 2 withdrawals x 20,000 baht) which is a little under my $2,000AUS limit and let ING pick up the tab vs me driving an hour and back (2 hours) to Krungsi to take out an extra 8,000 baht which would maximise my card limit. I think that is a no brainer as the petrol cost would be on me, let alone loss of my time, but if I am in the big city at anytime I can max it out.

Thank you for your message.
 

If the criteria Sarah mentioned is not met the below fees will apply;

• International purchase – 2.5% of transaction amount. No currency conversion is charged.
• International ATM Withdrawal - $2.50 (plus any fees charged by the international ATM).
• Cash withdrawal at an international branch - 2.5% of the transaction amount up to $1000.

The cash out through a branch/over the counter limit is $1,000. I'm not sure if the bank can override this limit themselves (if they want to) or if it is locked in.

Enjoy your day ahead.

Edited August 21, 2018 by 4MyEgo

[Pib]

11 hours ago, 4MyEgo said:

Update: Below is the reply I received from ING Bank today, remembering that I have met the criteria and the below applies to me for September.

Thank you for your message.
 

If the criteria Sarah mentioned is not met the below fees will apply;

• International purchase – 2.5% of transaction amount. No currency conversion is charged.
• International ATM Withdrawal - $2.50 (plus any fees charged by the international ATM).
• Cash withdrawal at an international branch - 2.5% of the transaction amount up to $1000.

The cash out through a branch/over the counter limit is $1,000. I'm not sure if the bank can override this limit themselves (if they want to) or if it is locked in.

Enjoy your day ahead.

 

From looking at your bank's response I read it as you are allowed $1000 max at a counter.   Now you said in an earlier post your card allows $2000 per day---are you sure about that?    

 

Some banks allow a "higher" amount for a counter withdrawal (e.g., $2000 at a counter compared to $1000 at an ATM).   

 

Some banks allow the same counter amount at the ATM amount limit (e.g., $1000 at an ATM or $1000 at a counter).  Please note "or" in the case would mean $1000 total per day between the ATM and counter....not $1000 from the ATM plus another $1000 from the counter....so your gross amount per day would be $1000.

 

Some banks may allow completely separate/independent ATM and counter amount....like $1000 per day from an ATM "and" another $1000 from the counter.

 

Various possible combinations and, or, and amount combinations possible....all banks are different....just be sure you understand what the amounts are.

 

And apparently they charge a 2.5% foreign transaction fee on a purchase...since the counter withdrawal will be processed as a purchase transaction that means a 2.5% fee by your card-issuing.   If using an ATM then a $2.50 flat fee...and are you sure they don't heap on the 2.5% foreign transaction fee also?   I know it depends on the type of account you have/certain criteria....just need to be sure you under what fees they will charge. 

 

 The Thai bank is only going to charge a possible Bt200 counter withdrawal fee...and then you get the Visa exchange rate "minus any foreign transaction fees" charged by your card-issuing bank.   You got the Thai bank fee and exchange rate figured out....you now need to figure out "your card-issuing bank" possible fees.

[4MyEgo]

13 hours ago, Pib said:

 

From looking at your bank's response I read it as you are allowed $1000 max at a counter.   Now you said in an earlier post your card allows $2000 per day---are you sure about that?    

 

Some banks allow a "higher" amount for a counter withdrawal (e.g., $2000 at a counter compared to $1000 at an ATM).   

 

Some banks allow the same counter amount at the ATM amount limit (e.g., $1000 at an ATM or $1000 at a counter).  Please note "or" in the case would mean $1000 total per day between the ATM and counter....not $1000 from the ATM plus another $1000 from the counter....so your gross amount per day would be $1000.

 

Some banks may allow completely separate/independent ATM and counter amount....like $1000 per day from an ATM "and" another $1000 from the counter.

 

Various possible combinations and, or, and amount combinations possible....all banks are different....just be sure you understand what the amounts are.

 

And apparently they charge a 2.5% foreign transaction fee on a purchase...since the counter withdrawal will be processed as a purchase transaction that means a 2.5% fee by your card-issuing.   If using an ATM then a $2.50 flat fee...and are you sure they don't heap on the 2.5% foreign transaction fee also?   I know it depends on the type of account you have/certain criteria....just need to be sure you under what fees they will charge. 

 

 The Thai bank is only going to charge a possible Bt200 counter withdrawal fee...and then you get the Visa exchange rate "minus any foreign transaction fees" charged by your card-issuing bank.   You got the Thai bank fee and exchange rate figured out....you now need to figure out "your card-issuing bank" possible fees.

You've taken it to task with every possible scenario.

 

As I qualify for the next months deal, i.e. no ATM fees, (unlimited) i.e. the bank will reimburse me the $2.50 ATM fee and pay the other bank for their ATM fee, I will only be up for the "foreign transaction fee" which I have no idea about, and presumably I get the visa rate at the ATM if I press the credit but, although I am using my debit card.

 

I have a maximum amount of $2,000AUS withdrawal on my card, I know this as I withdraw $2,000 every day from the ATM's when I am in Australia.

 

The 2.5% foreign transaction fee for purchases will also be reimbursed, and as you say the counter withdrawal will also fit into that category, I still get reimbursed. 

 

Having said the above, I will stick with using the ATM's as they pick up the fees and I will take out 48,000 baht per time, i.e. 2 x 20,000 baht withdrawals and 1 x 8,000 baht withdrawal per day, however the 1st one on 1 September will be for 20,000 baht, I will then sit patiently and see what comes up on my bank statement online to see what rate I was given, hopefully the visa rate and what charges have been reimbursed. Then is I am satisfied everything is good, I will continue to withdraw funds at 48,000 baht per day as it won't be costing me anything, and the visa rate is better than any exchange place in Phuket from what I can see, also reduces the risk of me carrying large sums of money back from Oz, unless I want to hold on to it and put it in the safe for when the Oz $ goes up, but the ATM way with fees being reimbursed sounds like the way to go for me, just got too make 5 transaction per month and put $1,000 into my account from an external account, too easy as I will book my car in Phuket for 3 days for October, next month, my life insurance comes out monthly, so that's 2, then I will buy somethings online that I need and we are in, so when in Oz in October and withdraw from the ATM's there, I will be reimbursed as well.

 

Can you explain to me what the "foreign transaction fee" is, is that the ATM banks fee or is something on top of that ?

 

 

[Pib]

16 minutes ago, 4MyEgo said:

 

Can you explain to me what the "foreign transaction fee" is, is that the ATM banks fee or is something on top of that ?

 

 

That is a fee of your "card-issuing bank....your home country bank that issued the card."   It's simply a fee when using your card outside the country of issue....Oz i nyour case.     It is "not" a fee of the Thai bank.

 

A foreign transaction fee usually applies to both an ATM or purchase transaction, but you need to look at the card's terms of agreement for the specifics.

Edited August 23, 2018 by Pib

[Pib]

Is this the ING debit card you have?  If so, a pretty detailed fee schedule...what they charge...what they reimburse under what conditions.

https://www.ing.com.au/everyday-banking.html

https://www.ing.com.au/pdf/Orange_Everyday_Fees_and_Limits_Schedule.pdf

[4MyEgo]

40 minutes ago, Pib said:

Is this the ING debit card you have?  If so, a pretty detailed fee schedule...what they charge...what they reimburse under what conditions.

https://www.ing.com.au/everyday-banking.html

https://www.ing.com.au/pdf/Orange_Everyday_Fees_and_Limits_Schedule.pdf

Yes that's the one, the Orange Everyday Visa Debit Card

 

Thanks for the links, just goes to confirm they will reimburse me everything, as long as I qualify in the previous month, for the next month to be free.

 

Perfect, I will update once I make my first withdrawal and see what rate I get, i.e. visa or other, and see if the ATM fees and charges are reimbursed.

[bbi1]

On 8/22/2018 at 6:48 AM, 4MyEgo said:

Update: Below is the reply I received from ING Bank today, remembering that I have met the criteria and the below applies to me for September.

 

A little confusing in the reply is the Cash withdrawal at an international branch i.e. she is saying that the cash out through a branch/over the counter limit is $1,000AUS and is not sure if the bank can override this limit themselves (if they want to) or it is locked in.

 

So the way I read this is that I can access my daily limit, i.e. $2,000AUS at Krungsi bank (over the counter) as they have a limit that is over $,1,000AUS and ING bank will not charge me 2.5% fee.

 

Do you read the same Pib (4 eyes are better than 2) ? 

 

Edit: Perhaps I should play it safe and just withdrawal 40,000 baht per day from the ATM daily at the local town after I drop off the kids to school ( 2 withdrawals x 20,000 baht) which is a little under my $2,000AUS limit and let ING pick up the tab vs me driving an hour and back (2 hours) to Krungsi to take out an extra 8,000 baht which would maximise my card limit. I think that is a no brainer as the petrol cost would be on me, let alone loss of my time, but if I am in the big city at anytime I can max it out.

Thank you for your message.
 

If the criteria Sarah mentioned is not met the below fees will apply;

• International purchase – 2.5% of transaction amount. No currency conversion is charged.
• International ATM Withdrawal - $2.50 (plus any fees charged by the international ATM).
• Cash withdrawal at an international branch - 2.5% of the transaction amount up to $1000.

The cash out through a branch/over the counter limit is $1,000. I'm not sure if the bank can override this limit themselves (if they want to) or if it is locked in.

Enjoy your day ahead.

The ING Orange Everyday Visa Debit Card has a limit of AUD$2,200 per day: https://www.ing.com.au/pdf/Orange_Everyday_Fees_and_Limits_Schedule.pdf

 

How much money can I withdraw from ING ATM?

$2,200 per day, per account Includes cash out at ATMs, Bank@Post and EFTPOS. Limit includes any ATM operator fees, even those we rebate. Other limits may be applied by the ATM operator, Bank@Post or a merchant.

 

I'm also with ING in Oz. From reading your quoted email from ING above, I don't get why they have only a $1k limit on a counter withdrawal overseas and why they also charge an additional 2.5% fee of the transaction amount. I was thinking about doing a counter withdrawal somewhere for the first time but it doesn't look like a good idea as at the ATM I can get 30,000 baht max. at Citibank ATM (used to be 50k limit until a few months ago). I think there's some other banks that also have a 30k limit too from what I read before.

 

Have you considered or looked into ING's international transfer platform with OGX.com? I haven't really looked into it but it seems maybe it could end up being cheaper to transfer from ING into a Thai bank account.

[bbi1]

I'm also with ING in Oz. From reading your quoted email from ING above, I don't get why they have only a $1k limit on a counter withdrawal overseas and why they also charge an additional 2.5% fee of the transaction amount. I was thinking about doing a counter withdrawal somewhere for the first time but it doesn't look like a good idea as at the ATM I can get 30,000 baht max. at Citibank ATM (used to be 50k limit until a few months ago). I think there's some other banks that also have a 30k limit too from what I read before.

Have you considered or looked into ING's international transfer platform with OGX.com? I haven't really looked into it but it seems maybe it could end up being cheaper to transfer from ING into a Thai bank account. Not sure how much a Thai bank would charge for an incoming transaction though, anyone have any ideas?

Edited August 24, 2018 by bbi1

[4MyEgo]

 

23 minutes ago, bbi1 said:

The ING Orange Everyday Visa Debit Card has a limit of AUD$2,200 per day: https://www.ing.com.au/pdf/Orange_Everyday_Fees_and_Limits_Schedule.pdf

 

 

Quote

How much money can I withdraw from ING ATM?

$2,200 per day, per account Includes cash out at ATMs, Bank@Post and EFTPOS. Limit includes any ATM operator fees, even those we rebate. Other limits may be applied by the ATM operator, Bank@Post or a merchant.

 

I'm also with ING in Oz. From reading your quoted email from ING above, I don't get why they have only a $1k limit on a counter withdrawal overseas and why they also charge an additional 2.5% fee of the transaction amount. I was thinking about doing a counter withdrawal somewhere for the first time but it doesn't look like a good idea as at the ATM I can get 30,000 baht max. at Citibank ATM (used to be 50k limit until a few months ago). I think there's some other banks that also have a 30k limit too from what I read before.

 

Have you considered or looked into ING's international transfer platform with OGX.com? I haven't really looked into it but it seems maybe it could end up being cheaper to transfer from ING into a Thai bank account.

All I know is that I have a $2,000 limit on my card, never tried going over that in Oz

 

I don't know why the staff member at ING stated $1,000 is the limit overseas, although she did say she wasn't sure if the banks would or could raise their limit, meaning they are all in on it, not suggesting ING is in on it, but why do banks provide you with a limit on what you can withdraw, "for security reasons", but $1,000, $2,000 is not a lot.

 

The above said, I don't know if you play their game as I do and make 5 transactions and deposit $1,000 from an external account to get the free ATM withdrawals and no 2.5% international charges, i.e. they pick up the fees, might be worth the try, but it works on the following month, providing everything you spent the money on, i.e. the 5 transactions have settled in that month.

 

If you don't want to do it that way, go into a branch of Krungsri and take out 150k baht, pay the 200 baht and also make sure you get the visa rate, then see how much ING slugs you for their fee, if its $2.50 plus the 200 baht at Krungsri, then your up for around $10.70 for 150k baht which is cheaper than doing it through an ATM.

 

Not sure about OGX but be interesting if you find out anything that helps.

Edited August 24, 2018 by 4MyEgo

[bbi1]

16 minutes ago, 4MyEgo said:

 

All I know is that I have a $2,000 limit on my card, never tried going over that in Oz

 

I don't know why the staff member at ING stated $1,000 is the limit overseas, although she did say she wasn't sure if the banks would or could raise their limit, meaning they are all in on it, not suggesting ING is in on it, but why do banks provide you with a limit on what you can withdraw, "for security reasons", but $1,000, $2,000 is not a lot.

 

The above said, I don't know if you play their game as I do and make 5 transactions and deposit $1,000 from an external account to get the free ATM withdrawals, might be worth the try, alternatively you go into a branch of Krungsri and take out 150k baht, pay the 200 baht and also make sure you get the visa rate, then see how much ING slugs you for their fee, if its $2.50 plus the 200 baht at Krungsri, then your up for around $10.70 for 150k baht which is cheaper than doing it through an ATM.

 

Not sure about OGX but be interesting if you find out anything that helps.

No I don't do the $1k deposit and 5 transactions as I thought that to do 5 transactions in Thailand usually most places accepting Visa requires a minimum purchase of 500 baht (or some as low as 300 baht) and some places also want to charge you a fee for using a debit/card of up to 3%. Also I thought that ING might charge some extra fees if using the Visa Debit card overseas to pay for purchases, which I never looked into before.

 

Krungsri - taking out 150k baht at once. I don't think it would be possible if $2.2k is the daily limit on ING's Visa Debit Card or even lower at $1k as they emailed you before. If the limit is $2.2k then about 50k baht would be the max that could be taken out in a day.

 

I will need to look into OGX but from what I remember they charge $15 in fees but if you transfer more than $10k then there's no fees. Apparently the exchange rate is meant to be competitive from what they wrote on their site. But I'm not sure how much Thai banks charge for when they receive those funds.

Edited August 24, 2018 by bbi1

[bbi1]

Just took a look at ING's site for International purchases using a Visa debit card: https://www.ing.com.au/rates-and-fees/orange-everyday-fees.html

 

International purchase: 2.5% of the amount of the International Transaction

- for transactions in a foreign currency

- for transactions in Australian dollars or a foreign currency, where:

the merchant or financial institution accepting the card is located outside of Australia; or

the entity processing the transaction is located outside of Australia.

 

 

 

[4MyEgo]

28 minutes ago, bbi1 said:

No I don't do the $1k deposit and 5 transactions as I thought that to do 5 transactions in Thailand usually most places accepting Visa requires a minimum purchase of 500 baht (or some as low as 300 baht) and some places also want to charge you a fee for using a debit/card of up to 3%. Also I thought that ING might charge some extra fees if using the Visa Debit card overseas to pay for purchases, which I never looked into before.

 

Krungsri - taking out 150k baht at once. I don't think it would be possible if $2.2k is the daily limit on ING's Visa Debit Card or even lower at $1k as they emailed you before. If the limit is $2.2k then about 50k baht would be the max that could be taken out in a day.

 

I will need to look into OGX but from what I remember they charge $15 in fees but if you transfer more than $10k then there's no fees. Apparently the exchange rate is meant to be competitive from what they wrote on their site. But I'm not sure how much Thai banks charge for when they receive those funds.

I have a life insurance policy back in Oz for my Mrs which comes out monthly, so that's one, I also transfer money from my wife's ING account $1,000 into mine and then back to her account, I don't usually buy things with the card, however we had a go at a few big lotteries in Oz last month, (4), so I qualified for next month.

 

Having said the above, I don't use my ING card till we are in Oz, usually every 18 months, and are due to go again in October, tickets and accommodation booked, I use my SCB debit card when here, only for ATM withdrawals up to 100k baht per day, e.g. 5 x 20,000 baht no charge, or as little as required, normally 60,000 baht per month which is my monthly budget.

 

There have been a couple of occasions that I required money from Oz, and I used Bahtsmart, no charges, they have an ANZ bank in Oz and you get the quoted rate at the time and the money is usually in within 48 hours, although the rate is lower than the visa rate, but as there are no fees at their end and SCB, it's not a bad way to get some money into my account when needed, but you can't beat the free ATM's if you qualify with ING, That said, I will be making a couple of purchases next month here which won't get charged the 2.5% and hopefully those purchasers qualify for the next month when I am in Oz as I intend on making some withdrawals from ATM while I am there.

[TallGuyJohninBKK]

1 hour ago, bbi1 said:

at the ATM I can get 30,000 baht max. at Citibank ATM (used to be 50k limit until a few months ago). I think there's some other banks that also have a 30k limit too from what I read before.

 

 

Krungsri (yellow) and Thai Military Bank-TMB (blue) ATMs both have 30,000 baht per withdrawal limits at the machine -- apart from whatever daily withdrawal limits your card issuing bank has.

[4MyEgo]

Just now, TallGuyJohninBKK said:

 

Krungsri (yellow) and Thai Military Bank-TMB (blue) ATMs both have 30,000 baht per withdrawal limits at the machine -- apart from whatever daily withdrawal limits your card issuing bank has.

Are they at the banks DCC rate or the Visa rate ?

[4MyEgo]

33 minutes ago, bbi1 said:

Just took a look at ING's site for International purchases using a Visa debit card: https://www.ing.com.au/rates-and-fees/orange-everyday-fees.html

 

International purchase: 2.5% of the amount of the International Transaction

- for transactions in a foreign currency

- for transactions in Australian dollars or a foreign currency, where:

the merchant or financial institution accepting the card is located outside of Australia; or

the entity processing the transaction is located outside of Australia.

 

 

 

Yes I got stung once when I booked Thai airway flight tickets in Sydney online and they applied a 2.5% cost because Thai airways is in Thailand, however they reverted the fee for me and I was happy, its was cash to Thai airways Sydney office there after as I had 4 tickets to acquire with the added value + 2.5%, was worth going into town on a train for the 20 minute journey.

[TallGuyJohninBKK]

8 minutes ago, 4MyEgo said:

Are they at the banks DCC rate or the Visa rate ?

 

When using a Thai bank ATM to make withdrawals, IF the ATM offers a DCC option, you always have the option to decline the DCC rate and just do a regular VISA/MC exchange rate withdrawal.

 

The way you'll know if the ATM screen is showing you a DCC option is if the screen shows you the amount of your withdrawal in your home country card's currency. If you see some reference in, in your case, AUD, just click DECLINE, and the withdrawal will proceed with the regular VISA/MC rate (minus any foreign currency fee or foreign ATM fee your card issuing bank may charge.)

 

AFAIK, TMB ATMs don't do the DCC B.S., but Krungsri ATMs do, as best as i can recall, depending on whether you're using a VISA or MC logo card.

 

But as I said above, at the Thai ATM, you're never FORCED or REQUIRED to accept a DCC rate withdrawal.  Any time you see a reference to your withdrawal amount in your home country currency, just decline that, and you'll be good.

 

It does, however, require paying close attention to the info displayed on the ATM screen. And knowing what to do when you see it.

 

PS - BTW, as best as I recall, the ATM screen will never actually use the term DCC or Dynamic Currency Conversion. But that's what it's called and that's what they're doing when they offer you a BAD exchange rate just for the privilege of the ATM screen showing you your withdrawal amount in your home country currency.

 

 

Edited August 24, 2018 by TallGuyJohninBKK

[4MyEgo]

1 minute ago, TallGuyJohninBKK said:

 

When using a Thai bank ATM to make withdrawals, IF the ATM offers a DCC option, you always have the option to decline the DCC rate and just do a regular VISA/MC exchange rate withdrawal.

 

The way you'll know if the ATM screen is showing you a DCC option is if the screen shows you the amount of your withdrawal in your home country card's currency. If you see some reference in, in your case, AUD, just click DECLINE, and the withdrawal will proceed with the regular VISA/MC rate (minus any foreign currency fee or foreign ATM fee your card issuing bank may charge.)

Perfect, good to know how it works, just don't accept AUS, hopefully I remember that when I use it next month, as it is confusing for the ones losing a little up top ?, hence the reason I am now going to put a little sticky note on my ING card saying do not accept AUS, and don't think I'm joking, as I have my good and my bad days, early signs of A or D me reckons ?

[TallGuyJohninBKK]

Correct, any time you see an AUS $ amount on the screen of a Thai ATM, you'll usually have buttons/menu choices to ACCEPT or DECLINE.

 

Tapping DECLINE from that prompt doesn't cancel the transaction. It  just allowed it to go ahead with the regular VISA or MC exchange rate.

 

[Pib]

Here's how a Krungsri DCC ATM screen appeared several years ago...probably a little different now.   The card being used in this case was foreign card denominated in USD.   Notice how it showing dollars and baht...and an exchange rate....that exchange rate is the ATM's DCC rate.

 

I'm not picking on Krungsri as all Thai banks probably attempt DCC transactions but it depends on your card....it was just easy to google-up below image. 

 

For me, I've never been offered a DCC ATM transaction when using my U.S. Visa or Mastercard in any Thai ATM.  However, from posts over the years it seems European-bank Maestro cards (owned by Mastercard) routinely get DCC offers. Just depends on your card.

 

To decline Krungsri's DCC offer and continue on to get the card-network rate (Visa/Mastercard/AmEx/etc) a person would push "Continue without Conversion."    By pushing Continue without Conversion you are saying you do not want Krungsri to convert for you at their DCC rate which will be several percent lower than the card-network rate.

 

Just be sure to read the screen wording closely (for any Thai bank ATM) as it will probably be vague if a DCC transaction is being offered...try to fool you into pushing the button that puts more money in the bankster's pocket.    

 

[Pib]

Here's a few more DCC offer examples from ATMs around the world....definitely not unique to Thai ATMs.  In each case to just say No to the DCC offer you would select  "Continue/Accept Without Conversion" to continue on to get the card-network rate.

 

 

 

[4MyEgo]

On 8/20/2018 at 10:36 PM, Pib said:

And if you ever get the chance to get a Mastercard debit card, at this point in time Krungsri does not charge the Bt200 fee....only on a Visa card for some reason

Here's the update, ok so yesterday was the 1st of September and I qualified for the free ATM withdrawals from ING Bank and they also pay for the other banks ATM fee, plus I qualify for the 2.5% international transaction fee being waived on purchasers, so here we go.

 

I was in the big city yesterday so decided to use Krungsri Banks ATM machine to do the withdrawal in 2 lots, i.e. 30,000 and 15,000 baht, the 1st withdrawal was pretty straight forward, i.e. pick how much you want (30,000), 2nd one I had to put in the amount of 15,000 as it's not a preselected amount, and I was asked from which account do I want this to come out from, I almost selected savings, then I remembered I had to put credit card, although it's not a credit card, can't remember who told me or where I read it, but was advised to press credit so I did, however before I did all of the above, I checked to see what the visa rate was using Google and it said 23.869906 as at 1 September 2018, however when I got home after the withdrawal the amounts in my Australian bank account read as follows, $1,280 for the 1st withdrawal and $640 for the 2nd withdrawal, there were no ATM fees added or separate to the withdrawals so I calculated the exchange rate to be slightly different to that of the visa rate that I saw earlier when I Googled it, i.e. ING gave me 23.43 cents to the $, still it was above what most other transfer places were offering, as I think the best one we could find was 23.35 and would have to wait for the money up to 24-48 hours.

 

I also booked a car online in the morning for next month, before we went to the big city and I noticed the visa rate when I did the calculations was 23.63 so again different to the withdrawal rate, we also did some shopping, and the visa rate the was same as the withdrawal rate, i.e. 23.43 so I am a little confused as I thought the visa rate was a fixed rate for the day ?

 

Today I noticed the withdrawal amounts had increased by $9 each to $1,289 and $649 which means that Krungsri have added their 200 baht to each transaction, plus ING have applied their $2.50 for each transaction separately, both the ING and Krungsri ATM fees will be reimbursed within 5 days, as will the 2.5% international transaction fees when and if they apply them as mentioned earlier that I qualified for the free ATM and international transaction fees.

 

What I would like to know is, does the visa rate stay the same on the day, or does it move, or do they provide a rate to the bank for that day, or for every so many hours, the reason I ask is that I got two different rates on the same day, i.e. 23.63 when booking the car online, and 23.43 for withdrawals and purchasing in store, noting that when searching visa on Google for their rate, it was 23.869906

Edited September 2, 2018 by 4MyEgo

[Pib]

44 minutes ago, 4MyEgo said:

What I would like to know is, does the visa rate stay the same on the day, or does it move, or do they provide a rate to the bank for that day, or for every so many hours, the reason I ask is that I got two different rates on the same day, i.e. 23.63 when booking the car online, and 23.43 for withdrawals and purchasing in store, noting that when searching visa on Google for their rate, it was 23.869906

Visa/Mastercard rates are for a 24 hour period.  However, the initial charge hitting your account may not match any exchange rate for a purchase type transaction...it almost like they are using a tentative exchange rate.  I've seen that with my Mastercard withdrawals and purchases.  And what can complicate things even more is when your "your bank" does not separately break out every fee from the transaction during the Pending process and/or Posted process....like possibly lumping-in the ATM Fee and foreign transaction fee with the cash amount withdrawn...or just separately breaking out "some of the fees.   Things can change and what is reflected on your account can change/differ significantly between the Pending and Posted transaction phases.

[4MyEgo]

2 minutes ago, Pib said:

Visa/Mastercard rates are for a 24 hour period.  However, the initial charge hitting your account may not match any exchange rate for a purchase type transaction...it almost like they are using a tentative exchange rate.  I've seen that with my Mastercard withdrawals and purchases.  And what can complicate things even more is when your "your bank" does not separately break out every fee from the transaction during the Pending process and/or Posted process....like possibly lumping-in the ATM Fee and foreign transaction fee with the cash amount withdrawn...or just separately breaking out "some of the fees.   Things can change and what is reflected on your account can change/differ significantly between the Pending and Posted transaction phases.

This is interesting, I will have to monitor the account over the next few days to see what adjustments have been made to know what the final exchange rate was, i.e. after they remove the ATM fee from Krungsri, i.e. 200 baht.

 

Just reading some stuff from Transferwise which discusses how it all works, at the end of the day, with no ATM fees applied/reimbursed in the next couple of days, even though Transferwise would give me 29,903 baht after taking out their fees, a rate of 23.57 compared to visa's rate ING have given me i.e. 23.43, still better off 93 baht, again with no ATM fees from both sides, that said, Transferwise would be a better rate if there was a fee for the ATM's from both sides.