Counter Withdrawal/Cash Advance

[Pib]

Hard to beat use of a no foriegn transaction fee card that also reimburses ATM fees when it comes to getting money from the home country in terms of least cost, speed, and most baht in hand.

[4MyEgo]

22 minutes ago, Pib said:

Hard to beat use of a no foriegn transaction fee card that also reimburses ATM fees when it comes to getting money from the home country in terms of least cost, speed, and most baht in hand.

Having gone over TransferWise calculations again, it appears that they have a discount on their fees which I overlooked, that said, recalculating the figures with their discount, you cannot beat TransferWise's rate, that said, the only difference being if you don't require the funds straight away and the sums are large, might as well give them a go.

 

Having said the above, I will monitor them over the next couple of months and when I see a lift in the AUS $, I will transfer funds as their current rate of 23.57114 is better than what the ING Bank have given me  on the visa rate, i.e. 23.43 as opposed to what I believe the visa's rate was showing on Google, i.e. 23.86, even with no ATM fees on both sides here and Oz, TransferWise appears to be better in rates, although slower in delivery, which doesn't bother me, moving forward as I usually have funds.

Edited September 2, 2018 by 4MyEgo

[Pib]

Don't know what Transferwise discounts fees you are talking about, but you might want to look at below post which contains a cost comparison in US Dollars when using Transferwise, SWIFT, and no foreign transaction fee Visa/Mastercards.  The winner is the no fee cards.  Fully expect a comparison in AUD would be very similar; however, Tansferwise does have different fee structures for various currencies pairs (i.e, USD-THB, AUD-THB, GBP-THB) which can change the outcome.

 

 

 

[4MyEgo]

15 hours ago, Pib said:

Don't know what Transferwise discounts fees you are talking about, but you might want to look at below post which contains a cost comparison in US Dollars when using Transferwise, SWIFT, and no foreign transaction fee Visa/Mastercards.  The winner is the no fee cards.  Fully expect a comparison in AUD would be very similar; however, Tansferwise does have different fee structures for various currencies pairs (i.e, USD-THB, AUD-THB, GBP-THB) which can change the outcome.

 

 

 

When I have a look at TranserWise's main page, and put in the amount that I wish to transfer from AUD to THAI baht, I said previously it shows a discount of some kind (incorrect), although it shows what rate it guarantees for (48 hours), and then the figure the recipient will get, however I find this a bit misleading as they make you feel as if you will receive that amount stated in the 1st photo, which I don't believe is the case, correct me if I am wrong as I haven't made a transaction yet.

 

Refer to the photos below, 1st page amount is different to the comparison pages amount, now I believe it is the comparison amount which is what the recipient will get, which is different to what they state the recipient will get on the first photos (page 1), now having worked the rate out, it's less than they are giving you because they have to take out their fee, but it looks like they took the fee out in the 1st photo (page 1), now if that's the case, the debit card with no ATM fees, i.e. reimbursed, works out at a better rate using visa, even at 23.43AUS, when TransferWise state they are giving you 23.54852 (loaded), i.e. fee not taken out, really reflected about 23.39AUS.

 

6,2,1, dozen the other, but for me it appears misleading and if so, would stay clear of them while I can use the ATM's that ING bank will reimburse fees for.

 

Would like your thoughts on this Pib

 

 

Edited September 3, 2018 by 4MyEgo

[Pib]

The first photo is the correct photo as I assume you are logged onto your account in getting that pricing.   The Recipient Gets is how much will show up in your Thai bank account. 

 

The second photo doesn't include the discount they are specifically giving you...it's just a general comparison (kinda like an advertisement) which does not include your specific discount.

 

Basically for you the AUD-THB currency pair pricing works out to costing you 0.54% of the sending amount.   The AUD-THB pricing is better (lower) than the the USD-THB pricing which works out to approx 1%.

Edited September 3, 2018 by Pib

[4MyEgo]

3 hours ago, Pib said:

The first photo is the correct photo as I assume you are logged onto your account in getting that pricing.   The Recipient Gets is how much will show up in your Thai bank account. 

 

The second photo doesn't include the discount they are specifically giving you...it's just a general comparison (kinda like an advertisement) which does not include your specific discount.

 

Basically for you the AUD-THB currency pair pricing works out to costing you 0.54% of the sending amount.   The AUD-THB pricing is better (lower) than the the USD-THB pricing which works out to approx 1%.

Thx Pib

 

In that case TransferWise wins hands down, in this case on $10,000AUS, it;s 91.6 baht ( a beer) except you have to wait for the cash to arrive in your account which in this case would arrive faster than the 5 days it would take you to withdraw the same amount, i.e. $10,000 from Krungsri noting the debit visa card limit I have is $2,000, and rates would fluctuate over those 5 days, and the rate TransferWise give is still better than the (qualified) free ATM fees offered by ING and the visa rate marginally, not to mention the 2 hour return trip, per day in my case.

 

Got it, TransferWise.....cheers, that beer is on me ?

 

[Harry2]

As of now - November 2018 what is the current state of play. I have read the thread & wondered if there were still any Thai banks I can withdraw Baht using a UK Visa credit card & not get charged a fee? 

[KneeDeep]

8 hours ago, Harry2 said:

As of now - November 2018 what is the current state of play. I have read the thread & wondered if there were still any Thai banks I can withdraw Baht using a UK Visa credit card & not get charged a fee? 

 

 

Yes, there are.  But unless someone wants to name the banks and branches, you are going to have to do the legwork yourself.

 

If in Bangkok, Bank Of China ATM used to be free. Haven't checked of late, since I can withdraw over the counter at no extra cost anyway.

 

Halifax Clarity and Barclaycard Platinum Travel are the best cards for that kind of thing.

 

Edited November 28, 2018 by KneeDeep