I have a UK nationwide bank account with a normal atm card, no visa or debit, and I make withdrawals on regular basis from Thai atm's using the Cirrus Network facility. Unfortunately I have been getting poor exchange rates. 65.31 baht to the UK pound yesterday for instance. It's only been for the last two weeks that on each occasion I withdraw money I am getting on average 4 baht less than the actual buying rates in Thailand. For four years prior I have withdrawn money getting the actual buying rates in Thailand give or take a couple of satang. Any one else having similar problems?

Where's topfield when you need him?

Apparently, it's because of the current demarcation between 'offshore' and 'onshore' rates, with holders of foreign plastic getting the less favorable 'offshore' rate. This rate can be found at oanda.com, at least the Interbank Exchange Rate version, which is what my US bank uses for foreign transactions.

The rates shown on Thai bank websites, including Band of Thailand, plus in the newspapers, are the 'onshore' rates. And there's a big difference these days between offshore and onshore.

I have a UK nationwide bank account with a normal atm card, no visa or debit, and I make withdrawals on regular basis from Thai atm's using the Cirrus Network facility. Unfortunately I have been getting poor exchange rates. 65.31 baht to the UK pound yesterday for instance. It's only been for the last two weeks that on each occasion I withdraw money I am getting on average 4 baht less than the actual buying rates in Thailand. For four years prior I have withdrawn money getting the actual buying rates in Thailand give or take a couple of satang. Any one else having similar problems?

Tofield is here Bendix ...despite the continual harrassment on this forum by someone calling themselves GU22!

The answer is simple if you know !

You are using a Nationwide Cash card . This uses the Cirrus network that clearly applies the offshore rate.

Since Thursday when the pound dropped like a stone...from 1.9750 to the dollar down to 194.50 ..a drop of three US cents .per pound , the poor rate has been magnified.

The N/W Debit card on the other hand uses the Visa network has neen applying the onshore rate which is several baht per pound higher !

Before anyone asks why .....nobody yet knows ! I messaged Nationwide TWO WEEKS AGO to ask them to explain why they can use the onshore rate but as of today not received an answer !

So your solution is to obtain a N/W debit card and dump the Cash Card [ I hold both ]

Before anyone asks why .....nobody yet knows ! I messaged Nationwide TWO WEEKS AGO to ask them to explain why they can use the onshore rate but as of today not received an answer !

So your solution is to obtain a N/W debit card and dump the Cash Card [ I hold both ]

Good to see you again, Toppers, although I'm incredulous that those lazy folks at Nationwide couldn't find time to reply to their Bangkok correspondent.

Perhaps you should try again.

Since Thursday when the pound dropped like a stone...from 1.9750 to the dollar down to 194.50 ..

Yes, I had noticed a movement, but didn't realise it was quite that magnitude..... ah well. Just as well I don't have pounds to the dollar.

In New Zealand we use the metric system, so I have a 'dollar royale.'

You are using a Nationwide Cash card . This uses the Cirrus network that clearly applies the offshore rate.

And so does MasterCard. But I put my Bank of America Visa away because they were charging a 3% foreign transaction fee, while my particular MC does not. But, when you compare the offshore with onshore rates, I guess......

Then, I have to deal with Dynamic Currency Conversion these days, that wonderful scam that adds 6.5% to my bill if I'm not careful......

I think I need a drink..........