Withdrawing funds over the counter on a credit card at Bangkok Bank

[BillStrangeOgre]

5 hours ago, scubascuba3 said:

I also use my Halifax Clarity card and as you say, no charges, FX fees, withdrawal fees, you just need to make a cash transfer the same day to avoid interest. You can use Bangkok Bank or other banks, it's trial and error to find a friendly bank that allows it. Kasikorn had a 20,000 limit, another bank 100,000

Thanks to a fellow Halifax Clarity card user! ????

Apart from Kasikorn do you know of any other banks that don't charge for over counter withdrawals? Preferably in central BKK?

Cheers

 

[Peterw42]

38 minutes ago, Phil McCaverty said:

Its usually better than the exchange rate offered inside Bangkok Bank.

Thats the rate for notes, not the TT or credit card rate.

[Phil McCaverty]

3 minutes ago, Dart12 said:

Good educational material on this subject...including ATMS, Bank withdraw, Wire Transfers, and more options:

Best recommended method is a wire transfer if you have any sort of Thai bank account you could send to.

https://www.expatden.com/thailand/thailand-currency-exchange/

If by wire transfers it means inter bank transfers, which is how I now transfer the bulk of my money from the UK now, my bank charges me £9.50 (383 baht) and I have to be careful to send the money in £ and allow Bangkok Bank to do the exchange. More expensive than using my Halifax Clarity inside the bank. The site is concerned with sending money from the US. I'm led to believe that there isn't a CC in the US available as preferential as Halifax Clarity.

[Phil McCaverty]

5 minutes ago, BillStrangeOgre said:

Thanks to a fellow Halifax Clarity card user! ????

Apart from Kasikorn do you know of any other banks that don't charge for over counter withdrawals? Preferably in central BKK?

Cheers

 

Bangkok Bank.

[tilac01]

I would love to open a Capitol One account but their online application indicates that you need a US address. Anyone able to open an account with a Thai address?

 

thanks..

[BillStrangeOgre]

1 hour ago, gargamon said:

My mastercard ATM from capital one has no foreign transaction fee, no yearly fee, no minimum monthly deposit required, and the minimum balance, if there is one, is insignificant like maybe $500. The exchange rates I get are better than the rates published on xe.com. They make money by attracting customers that are tired of paying the 3% foreign transaction fees others charge. These customers move a substantial part of their banking to capital one, including their credit cards (which also have no foreign transaction fees), which is how they make their money. I moved all my US banking to capital one from citi.

You're right, not all bank cards are equal. I also have a Revolute card from one of the new online banks. There used to be no charges and great exchange rates, then they started charging 2% for cash withdrawals over £500 per month and the fx rates went south. I rarely use it now. 

[Peterw42]

Todays BKK bank TT rate is 39.95750

 

Todays Visa rate is 39.363438

 

 

The TT rate is better than the Visa rate, and always is.

[BillStrangeOgre]

37 minutes ago, Pib said:

I bet they do...but you think they don't.  Banks know when the transaction is a cash advance or purchase thru underlying transaction coding the customer does not see.  

 

https://www.halifax.co.uk/creditcards/clarity-card/

...like others have said, i simply pay the credit card from my current account online, same day i make a withdrawal. Any interest charged by the credit card would appear on the statement. It doesn't.  

[Pib]

2 minutes ago, BillStrangeOgre said:

...like others have said, i simply pay the credit card from my current account online, same day i make a withdrawal. Any interest charged by the credit card would appear on the statement. It doesn't.  

I would do the same thing with my US credit car...pay same day or prepay to prevent any interest accruing.  Well, one time I was a day late (failed to pay same day of cash advance) and got like a 50 cents interest charge...one day's interest charge.

 

[Pib]

11 minutes ago, Peterw42 said:

Todays BKK bank TT rate is 39.95750

 

Todays Visa rate is 39.363438

 

 

The TT rate is better than the Visa rate, and always is.

 

I get a much higher Visa rate of 40.15 than you got....see snapshot from the Visa exchange rate page.  That rate is a zero percent foreign transaction fee....such a card beats today's Bangkok Bank TT Buying Rate of 39.95 for a incoming foreign transfer. 

 

But the rate you gave is correct for a card with a 2% foreign transaction fee....I guess you are saying/using a 2% fee for your particular Visa card.

 

 

Bangkok Bank Rate

 

[BillStrangeOgre]

5 minutes ago, Pib said:

I would do the same thing with my US credit car...pay same day or prepay to prevent any interest accruing.  Well, one time I was a day late (failed to pay same day of cash advance) and got like a 50 cents interest charge...one day's interest charge.

 

...that can happen if you forget, hardly the end of the world! ????

[scubascuba3]

17 minutes ago, Peterw42 said:

Todays BKK bank TT rate is 39.95750

 

Todays Visa rate is 39.363438

 

 

The TT rate is better than the Visa rate, and always is.

The visa and MasterCard rate aren't known until the following day so you are comparing apples with oranges, check again tomorrow

[scubascuba3]

4 hours ago, Phil McCaverty said:

See my post above re interest. Also, I regularly withdrew 70k+ at a time from my local branch of Bangkok Bank.

For Clarity they get processed as cash withdrawals, you are maybe missing the interest which seems to get hidden in the statement a month later. I've used Kasikorn and Krungsi, both the same, not Bangkok bank but i can't see them being different, same tech

[scubascuba3]

3 hours ago, Peterw42 said:

There is no such thing as a free exchange/withdrawal.

Its a credit card purchase or cash advance, credit card exchange rate, credit card fees, credit card interest.

 

 

 

Incorrect, certainly ways to avoid charges and interest in the UK

[Phil McCaverty]

2 minutes ago, scubascuba3 said:

For Clarity they get processed as cash withdrawals, you are maybe missing the interest which seems to get hidden in the statement a month later. I've used Kasikorn and Krungsi, both the same, not Bangkok bank but i can't see them being different, same tech

They don't for me.

[Phil McCaverty]

5 minutes ago, scubascuba3 said:

The visa and MasterCard rate aren't known until the following day so you are comparing apples with oranges, check again tomorrow

Yep, could be an even bigger differential.

[scubascuba3]

3 minutes ago, Phil McCaverty said:

Yep, could be an even bigger differential.

unlikely, i did a comparison a while back and the TT rate is similar to the Clarity card rate +\- 0.25%, depending how volatile the rate is that day

[Phil McCaverty]

Just now, scubascuba3 said:

unlikely, i did a comparison a while back and the TT rate is similar to the Clarity card rate +\- 0.25%, depending how volatile the rate is that day

Yes, I found similar. I was referring to the rate from one day to the next. Exchange rates go up as well as down. Swings and roundabouts.

[pineapple01]

BKB doesnt charge any fee if its their debit card. 

[Dante99]

I have seen 47 threads like this over the past 15 years.  Is there anything new in this one?

[scubascuba3]

16 minutes ago, Phil McCaverty said:

Yes, I found similar. I was referring to the rate from one day to the next. Exchange rates go up as well as down. Swings and roundabouts.

Exactly, when comparing any exchange rate they need to be at the same time otherwise it's meaningless

[scubascuba3]

8 minutes ago, Dante99 said:

I have seen 47 threads like this over the past 15 years.  Is there anything new in this one?

no, people still confused how it works

[luckyluke]

If one wish to collect 20-30000 ThB at a bank counter, many branches will tell you to use the ATM. 

On bigger amounts they will usually accept, but the all procedure is sometimes laborious and/or tiresome, especially if you want to put the amount on your bankbook. 

I used this system for years.

 

Now since more than 1 year, I use transferwise, as it can been done from home, take 2 minutes, still use my Credit Card, know at once the rate and costs, and in my case the money is on my Thai account from my Belgian account a few hours later. 

 

 

 

[poohy]

18 hours ago, beachproperty said:

Yes, It's possible. I've done it many times. But be prepared you may have to pay a "cash withdrawal" fee to the credit card bank

It's certainly possible

Don't expect staff to be overjoyed

Maybe you will be told use ATM

Maybe you will told cannot.... (despite it being possible) as to put it simply  they dont get revenue and you are causing them work to avoid 220 THB

 

That's an ex banker (i did 16 years at HSBC) speaking by the way

Edited May 6, 2020 by poohy

[zoza]

10 hours ago, BillStrangeOgre said:

I didn't really post to discuss my credit card but if you look up Halifax Clarity card you can see terms and conditions ????

you will also see no charges but the overseas bank may add their charges ( like ''240 baht'')

there are American Banks that refund charges but not Halifax Clarity card, 

[BillStrangeOgre]

6 minutes ago, zoza said:

you will also see no charges but the overseas bank may add their charges ( like ''240 baht'')

there are American Banks that refund charges but not Halifax Clarity card, 

...this is true. There's an American bank that slips my mind right now that refunds any charges made on foreign withdrawals, like those made at an ATM in Thailand. Clarity card doesn't do that, we have to find an ATM that doesn't

charge 

[Pib]

1 hour ago, scubascuba3 said:

The visa and MasterCard rate aren't known until the following day so you are comparing apples with oranges, check again tomorrow

A person can do past date comparisons by selecting the exchange rate date on the card and Thai bank exchange rate web pages...and be sure to take the time difference in consideration to get greater comparison accuracy. As card rates are usually set to last the entire 24 hour period whereas Thai bank rates can/usually change several times per day.   

And during those times when FX rates stay pretty stable/vary little over several days it allows a person to do some pretty good comparisons... and a person will find the Visa/Mastercard exchange rate and Thai bank  TT Buying rate are plus or minus a little bit of each other.

 

Preaching to the choir I know.

 

[zoza]

35 minutes ago, zoza said:

you will also see no charges but the overseas bank may add their charges ( like ''240 baht'')

there are American Banks that refund charges but not Halifax Clarity card, 

i learnt my lesson and opened a Thai bank account about five years ago(20 baht fee) and nil for KK branch, and Schwab is one in the states that refunds all ATM fees.

[thonglorjimmy]

13 hours ago, BillStrangeOgre said:

I didn't really post to discuss my credit card but if you look up Halifax Clarity card you can see terms and conditions ????

When you make a cash transaction (including gambling and currency exchange transactions):

* we charge interest from the date of the transaction;  

* we charge a cash tranaction fee; and
* cash withdrawals in a foreign currency also incur a non-sterling transaction fee.

 

I'm confused now

[thaiboss]

my last experience last year bangkok bank take only visa card at the counter bangkok bank may be the only one who still has the old system and contract with visa card no contract with master ( only atm ). cash advance as per your credit card condition apply. NO FEES HERE AND EXCHANGE RATE IS THE VISA CARD ONE .. so first check out if they still do ....