Atm withdrawal??

[LeoCesar]

Some Atms doesn't even show the rate .. 
and ask the staff about the rate withdrawing money from the atm is useless.

What do you do to get the maximum value withdrawing money in Thailand?

[2 is 1]

I move money to my Thailand account from Finland! And then go ATM. Whit SCB card.

[scubascuba3]

If using your non thailand bank card, when using the ATM if given the choice of exchange rate do not accept the ATM exchange rate, always the worst. Ask your non Thailand card bank what rate you get for withdrawals and ask about charges. Probably easier to just look online

[LeoCesar]

Thanks,

would you be so kind and show me how to check it online?

[LeoCesar]

5 minutes ago, scubascuba3 said:

If using your non thailand bank card, when using the ATM if given the choice of exchange rate do not accept the ATM exchange rate, always the worst. Ask your non Thailand card bank what rate you get for withdrawals and ask about charges. Probably easier to just look online

Thanks,

would you be so kind and show me how to check it online?

[scubascuba3]

1 minute ago, LeoCesar said:

Thanks,

would you be so kind and show me how to check it online?

what bank is your card with? look up the terms and conditions or account details, or just call customer service and ask

[LeoCesar]

1 minute ago, scubascuba3 said:

what bank is your card with? look up the terms and conditions or account details, or just call customer service and ask

mastercard from swedbank Sweden = (Absurdistan)

[TallGuyJohninBKK]

When using a Thai ATM with a foreign bank card, in almost any case where the ATM offers to price the withdrawal for you in your foreign (home country) currency, you want to DENY that offer and just accept a regular withdrawal amount showing only Thai baht.

 

When the ATM offers you a withdrawal priced in your bank card's home country currency, that's called Dynamic Currency Conversion (DCC), and usually results in a 3-4% worse exchange rate than if you just did a regular withdrawal priced in Thai baht. The Thai bank pockets those extra fees.

 

The other thing you need to check with your foreign card issuing bank is what if any flat fee or percentage fees do THEY charge when you use a foreign ATM. Some banks charge a flat fee. Some charge a percentage fee for any foreign withdrawal. Some charge both.  In some cases, the bank breaks out those foreign fees in the details of your statement or online banking. In other cases, they don't.

 

You need to talk to your foreign bank about those details for your card with them so you can understand how best to use, or not use, that card in Thailand. Ideally, you want a home country card that charges no fixed or percentage fees when used for foreign withdrawals or purchases.

 

 

Edited May 6, 2020 by TallGuyJohninBKK

[Yom]

25 minutes ago, LeoCesar said:

how to check it online

I'm 'happy' with https://www1.oanda.com/

Currency Converter

then

See More Options

then

And please remember what  scubascuba3 said.

 

 

[LeoCesar]

4 minutes ago, TallGuyJohninBKK said:

When using a Thai ATM with a foreign bank card, in almost any case where the ATM offers to price the withdrawal for you in your foreign (home country) currency, you want to DENY that offer and just accept a regular withdrawal amount showing only Thai baht.

 

When the ATM offers you a withdrawal priced in your bank card's home country currency, that's called Dynamic Currency Conversion (DCC), and usually results in a 3-4% worse exchange rate than if you just did a regular withdrawal priced in Thai baht. The Thai bank pockets those extra fees.

 

The other thing you need to check with your foreign card issuing bank is what if any flat fee or percentage fees do THEY charge when you use a foreign ATM. Some banks charge a flat fee. Some charge a percentage fee for any foreign withdrawal. Some charge both.  In some cases, the bank breaks out those foreign fees in the details of your statement or online banking. In other cases, they don't.

 

You need to talk to your foreign bank about those details for your card with them so you can understand how best to use, or not use, that card in Thailand. Ideally, you want a home country card that charges no fixed or percentage fees when used for foreign withdrawals or purchases.

 

 

Thanks

[Kwasaki]

I don't use ATM to draw money from UK debit card I go in Thai bank I get charged 180 that way my UK bank do not charge me for ATM use. 

[TallGuyJohninBKK]

35 minutes ago, LeoCesar said:

Thanks

 

You also have to be careful in understanding the answers you get from your bank. Some banks like to play word games when it comes to what are called "foreign currency fees" or "ISA International Service Assessment" fees.

 

It's commonplace for the VISA and MasterCard card networks to themselves charge about a 1% fee on foreign/crossborder transactions. Some banks don't pass those charges along to their cardholders. Other banks do, and then add on another 2-3% of their own on top, resulting in total FCF fees of 3-4%.

 

Sometimes, when you ask a bank about those kinds of fees, they'll answer that THEY don't charge any fee. But in fact, what they may be doing is passing along to you the cardholders the card networks' 1% fee. And then claim they (the bank) aren't charging you that fee. But VISA or MC are.

 

In the end, though, it's entirely up to the bank as to whether they decide to pass along those card network fees to their card customers. And even more so, in cases where the bank itself then piles on and adds another 2-3% of FCF fees of their own.

 

Anytime I'm getting info like that over the phone from my banks in the case of new accounts, apart from looking at their printed fee schedules, I also always TEST my actual transactions using the foreign currency transaction websites that both VISA and MC operate that allows you to see just what their official exchange rate was for any given currency on any given day.

 

The ideal situation is that your transactions (ATM withdrawals or foreign purchases made abroad) work out to be given exactly the MC or VISA card network official exchange rates for that day based on ZERO fees being passed along to you the cardholder.

 

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

 

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

 

You can also look at the daily average commercial bank rates posted by the Bank of Thailand for the baht vs the Swedish currency, looking at the "Average Buying Rates - Transfer" column as a good indicator.

 

https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/Application/ExchangeRate/ExchangeRate.aspx

 

 

[LeoCesar]

23 hours ago, TallGuyJohninBKK said:

 

You also have to be careful in understanding the answers you get from your bank. Some banks like to play word games when it comes to what are called "foreign currency fees" or "ISA International Service Assessment" fees.

 

It's commonplace for the VISA and MasterCard card networks to themselves charge about a 1% fee on foreign/crossborder transactions. Some banks don't pass those charges along to their cardholders. Other banks do, and then add on another 2-3% of their own on top, resulting in total FCF fees of 3-4%.

 

Sometimes, when you ask a bank about those kinds of fees, they'll answer that THEY don't charge any fee. But in fact, what they may be doing is passing along to you the cardholders the card networks' 1% fee. And then claim they (the bank) aren't charging you that fee. But VISA or MC are.

 

In the end, though, it's entirely up to the bank as to whether they decide to pass along those card network fees to their card customers. And even more so, in cases where the bank itself then piles on and adds another 2-3% of FCF fees of their own.

 

Anytime I'm getting info like that over the phone from my banks in the case of new accounts, apart from looking at their printed fee schedules, I also always TEST my actual transactions using the foreign currency transaction websites that both VISA and MC operate that allows you to see just what their official exchange rate was for any given currency on any given day.

 

The ideal situation is that your transactions (ATM withdrawals or foreign purchases made abroad) work out to be given exactly the MC or VISA card network official exchange rates for that day based on ZERO fees being passed along to you the cardholder.

 

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

 

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

 

You can also look at the daily average commercial bank rates posted by the Bank of Thailand for the baht vs the Swedish currency, looking at the "Average Buying Rates - Transfer" column as a good indicator.

 

https://www.bot.or.th/english/statistics/financialmarkets/exchangerate/_layouts/Application/ExchangeRate/ExchangeRate.aspx

 

 

Thank you so much.