R123 Posted October 12, 2018 Share Posted October 12, 2018 A friend who is long time in Thailand has a Visa card issued here. He wants to know how to get cash from the Visa card. I told him that he can do so by going to one of those money exchange booths and withdrawal cash from there, on presentation of his passport. is that correct? if so, are the charges high? Link to comment Share on other sites More sharing options...
allane Posted October 12, 2018 Share Posted October 12, 2018 I think he is going to have to go inside a bank which issues Visa cards. I believe this now excludes Bangkok Bank. They normally charge the same rate that they do on an unpaid credit card bill, plus another 1% or so. For a round figure, use 20% p.a. Remember, the banks will all be closed on Mon. Oct. 15. Have him do it today, if he can't wait until the 16th. Link to comment Share on other sites More sharing options...
mark5335 Posted October 12, 2018 Share Posted October 12, 2018 The Cash Advance fee is typically 3% flat, and the interest rate on the advance is 18% p.a. Unsure whether it's possible for your friend to obtain an advance from those exchange booths that are independent of the banks e.g. Super Rich, however, I would recommend he request the cash advance from a branch of the visa card issuing bank (on presentation of his passport). Note: alternatively (and easier) your friend should have a PIN enabling him to easily obtain a cash advance from an ATM. For example, if he used his visa card to withdraw cash from the ATM at the BBL branch, he could obtain 50,000 baht per day subject to his available credit limit (i.e., 2 ATM withdrawals of 25K each). Link to comment Share on other sites More sharing options...
natway09 Posted October 12, 2018 Share Posted October 12, 2018 I would advise him to use as a last resort.,,,,, expensive even if paid on time. Did they give him a pin number ? Better to use his ATM if he has one. Link to comment Share on other sites More sharing options...
Burma Bill Posted October 12, 2018 Share Posted October 12, 2018 Use any ATM where the VISA logo is displayed - works for both debit and credit cards. No need for "over the counter" service at a bank or money exchange. Link to comment Share on other sites More sharing options...
sanmyintmaung Posted October 12, 2018 Share Posted October 12, 2018 I think he can buy foreign currency (Example : US$) from Exchange Booth like Super Rich using his Visa Credit Card. It will appear to the bank as normal transaction by Merchant instead of cash advance. Exchange booth method will give him foreign currency so he will need to change it back to Thai Baht again and hit with Forex spread twice. Unlike cash advance, he will enjoy grace period until the end of the billing cycle to payback the balance. Cash advances don't have a grace period, meaning interest begins accruing on the balance as soon as the transaction is completed. https://uat.kasikornbank.com/en/promotion/Pages/Currency.aspx If he has Kasikorn Creditcard, he can exchange to any currency at K-Exchange booths without fee and up to 45 days interest-free. Link to comment Share on other sites More sharing options...
rwill Posted October 12, 2018 Share Posted October 12, 2018 and if you do use an ATM never accept the conversion rate they offer you. ALWAYS select "Continue without conversion" They rate they offer is about 2 baht per unit lower than what you will get by not accepting it, it is far more costly than the 220 baht they charge you. Link to comment Share on other sites More sharing options...
mark5335 Posted October 12, 2018 Share Posted October 12, 2018 10 minutes ago, rwill said: and if you do use an ATM never accept the conversion rate they offer you. ALWAYS select "Continue without conversion" They rate they offer is about 2 baht per unit lower than what you will get by not accepting it, it is far more costly than the 220 baht they charge you. That's useful to know. Although in this case, the OP has a Thai issued Visa Card and seeking a cash advance within Thailand so would be unlikely to be offered any currency other than THB at the ATM. Link to comment Share on other sites More sharing options...
DJ54 Posted October 12, 2018 Share Posted October 12, 2018 Not knowing if it a Visa Credit card or ATM. ATM easy go in bank with your book and that if you need a pin. If Credit card be careful I once used mine and called the US bank. Interest rate is a LOT higher on what’s basically a cash advance. if buying something on the card interest rates incurred after 28 some odd days. Cash Advance on Credit Card starts immediately! Link to comment Share on other sites More sharing options...
PerkinsCuthbert Posted October 12, 2018 Share Posted October 12, 2018 His card is issued here, you say, so instead of getting largely irrelevant opinions here, why not advise your friend to simply go into his bank and ask? Link to comment Share on other sites More sharing options...
quandow Posted October 12, 2018 Share Posted October 12, 2018 I used to do this before I decided to stay long time. It was always about a 10% hit on cash advances between the ATM fee, the bank cash advance fee, and the exchange rate used. I never carried a balance on the card so no further interest fees were charged. Link to comment Share on other sites More sharing options...
user343434 Posted October 12, 2018 Share Posted October 12, 2018 Bangkok bank goes for Union Pay cards only, I just changed all my accounts to SCB 7/eleven cannot take Visa cards anymore some shops like Best you might struggle too I don't know whats the Problem with Visa cards but there is something in the Bush... Link to comment Share on other sites More sharing options...
YogaVeg Posted October 12, 2018 Share Posted October 12, 2018 7 hours ago, sanmyintmaung said: I think he can buy foreign currency (Example : US$) from Exchange Booth like Super Rich using his Visa Credit Card. It will appear to the bank as normal transaction by Merchant instead of cash advance. I'm assuming this is with a Thai credit card, do you have any idea if you can buy cash with a foreign credit card like this? Link to comment Share on other sites More sharing options...
Burma Bill Posted October 13, 2018 Share Posted October 13, 2018 7 hours ago, See Will said: Bangkok bank goes for Union Pay cards only, I just changed all my accounts to SCB 7/eleven cannot take Visa cards anymore some shops like Best you might struggle too I don't know whats the Problem with Visa cards but there is something in the Bush... Bangkok Bank are supposed to be issuing Mastercard Debit card next year. I did not know 7-11 will not accept Visa however outside most 7-11 stores you will find at least one ATM with the VISA logo - draw cash. I personally have had no problems at all with my new Krungsri Bank Visa card however my Bangkok Bank Visa card is problematic outside ATM use. For reference, Cambodian Immigration's e-visa can be paid for using Visa or Mastercard but NOT Union Pay. Link to comment Share on other sites More sharing options...
R123 Posted October 25, 2018 Author Share Posted October 25, 2018 On 10/12/2018 at 9:21 PM, PerkinsCuthbert said: His card is issued here, you say, so instead of getting largely irrelevant opinions here, why not advise your friend to simply go into his bank and ask? Yes thank you I advised my friend to do that. On 10/12/2018 at 2:39 PM, natway09 said: I would advise him to use as a last resort.,,,,, expensive even if paid on time. Did they give him a pin number ? Better to use his ATM if he has one. Apparently the Bank gave him a Pin number and he was able to use the cc to get cash. 3% charge. Glad for your reply. Thx to all the helpful replies. Link to comment Share on other sites More sharing options...
Thailand J Posted October 26, 2018 Share Posted October 26, 2018 43 minutes ago, R123 said: Apparently the Bank gave him a Pin number and he was able to use the cc to get cash. 3% charge. I use my Bangkok Bank Visa credit card to withdrawal cash at ATM's directly from the linked savings account at no fees. Only works at Bangkok Bank ATM's within Thailand. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.