K-Bank Phrae -

[Yom]

No idea, where to post this?

 

Picked up money (20.000 + 220) at ATMs in Phrae.

1.3. quite different from 3.3. - Much worse at K-Bank.

1./2.3.   Kurs  34.4                                        586.64 EUR

3./4.3. Kurs 32.74  ?   K-Bank  617.64 EUR

What the heii?

Long telephoning with the 'hotline' in BKK.

Qua/Qua/Qua. - Thank you, Kasikorn/ThaiFarmer/K-Bank.

          ***********************

 

 

Edited March 7, 2020 by Yom

[Just Weird]

Exactly..."what the heii?"

Edited March 7, 2020 by Just Weird

[Yom]

18 minutes ago, Just Weird said:

Exactly..."what the heii?"

Replace 'ii' with 'll', please...

Support wanted. Thanks.

Y.

[Just Weird]

12 hours ago, Yom said:

Replace 'ii' with 'll', please...

Support wanted. Thanks.

Y.

My point wasn't about the spelling! 

 

Perhaps you'd get the support you want if the point of your OP was clear, and intelligible.  I'm sorry but what you posted doesn't make a lot of sense.

[Yom]

8 minutes ago, Just Weird said:

I'm sorry but what you posted doesn't make a lot of sense.

Thanks, Just Weird.

March 1 - withdraw 20,220 THB - this was 586,64 EUR  (1 EUR =34.4 THB)

March 3 -      again 20,220 THB - this time 617.64 EUR  (1 EUR=32.74 THB)

while the Euro improved against the Baht:

 

March 3 was an ATM/K-Bank at BigC Phrae.

Hotline Bangkok: all in all, must be a mistake of my home bank.

That's nonsense.

                  ***********************

[sceadugenga]

I'll move the thread to Finance, they know a bit more about money there.

[jackdd]

If you use a foreign card in an ATM the exchange rate is set by VISA / Mastercard, so looking at Kasikorn's exchange rate won't give you answers.

[Pib]

As mentioned, the exchange rate is set my Visa/Mastercard (i.e, card network) and not the local bank/ATM "unless" you get sucked into accepting a DCC transaction where the rate is set by the local bank/ATM and will be around 3% lower than the card network rate.   And don't forget to crank-in any foreign transaction fee you "card-issuing" bank charges and of course the Thai bank Bt220 User Fee.  

 

The interbank/FX rate in your chart is not the rate the card-network (i.e., Visa/Mastercard) uses as they set their own exchange rates.  But the card-network rate generally tracks the ups and downs of the interback/FX rate at a slightly lower rate, however, the card-network rates lags the card-network rate by around one business day...and the card-network rate is set for an entire 24 hour period in most cases where the interbank/FX is changing ever second of the day.

 

 

 

[Salerno]

5 minutes ago, Pib said:

"unless" you get sucked into accepting a DCC transaction

That was my first thought for the second transaction ... well ... first thought after figuring out what the hell the thread was about.

[Yom]

14 minutes ago, Pib said:

"unless" you get sucked into accepting a DCC transaction where the rate is set by the local bank/ATM

Very interesting. And very helpful. - I wasn't careful the 2nd time.

Thank you very much, Pib.

[Yom]

5 hours ago, sceadugenga said:

they know a bit more about money there

Oh, yes. This is absolutely right.

Thanks again.

[Yom]

12 minutes ago, Salerno said:

well ... first thought after figuring out what the hell the thread was about.

Nevertheless, many thanks for your thoughts.

[Pib]

3 minutes ago, Yom said:

Very interesting. And very helpful. - I wasn't careful the 2nd time.

Thank you very much, Pib.

I don't know if your card is a Visa or Mastercard, but I checked rate on Mastercard exchange rate website for 1 Mar and 3 Mar.  For  your 1 March transaction and assuming your card-issuing bank does not charge any foreign transactions the charge comes real close to what your quote for 1 March.  But when checking the 3 March charge and assuming you had got sucked in for a DCC transaction the local DCC rate would have had to been around 6% worst than the Mastercard rate and that's too far off as DCC rates are usually right around 3% worst.

Mastercard Exchange Rate Site

https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

 

Visa Exchange Rate Site

https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html

 

Also, if you were offered a DCC transaction and exchange rate would have been displayed on the ATM screen with vague/misleading wording recommending your accept that exchange rate.   When an exchange rate is shown you are being hit up for a DCC transaction.   Never accept a DCC rate/transaction or you'll lose out.  Read the wording/selection closely and choose the selection that does not accept that rate and instead says you want the card-network rate.

 

 

[Yom]

14 minutes ago, Pib said:

Never accept a DCC rate/transaction or you'll lose out. 

Great and extensive information.

I let that flow into my head...

But now, thank you once more for your help.

Yom

 

P.S. It's a Visa-CC.  - I'll wait for the 'final' invoice of my home bank.

And post again here.

 

Edited March 8, 2020 by Yom

[Yom]

On 3/8/2020 at 8:49 PM, Pib said:

Read the wording/selection closely

Yes, that's it.

My bank wrote today amongst other things:

' Some ATM operators and also merchants in non-euro countries
offer immediate conversion to euros. ...... a course surcharge that puts you

significantly worse than at Settlement in local currency. '

OK, it was a lesson to me.

Thanks to you, Pib and to 'everyone' for support.