Jump to content

Recommended Posts


Generally, using a foreign credit card for payment in Thailand you get the offshore rate.

Some establishments in Thailand give you the option to charge your credit card in your home currency, at the rate used by the establishment.

--------------

Maestro

Link to comment
Share on other sites

Generally, using a foreign credit card for payment in Thailand you get the offshore rate.

Some establishments in Thailand give you the option to charge your credit card in your home currency, at the rate used by the establishment.

--------------

Maestro

always settle in baht.

everytime i have been given the option i get a much better rate by settling in baht rather than taking the dynamically converted amount to my cards home currency.

Link to comment
Share on other sites

i have used my Uk issued credit card in Thailand and upon checking the statement i was given slightly better than the thai ( onshore ) published TT rate of the day.

Credit card (monthly statement) or debit card (each transactions is immediately debited to your account) ?

--------------

Maestro

Link to comment
Share on other sites

i have used my Uk issued credit card in Thailand and upon checking the statement i was given slightly better than the thai ( onshore ) published TT rate of the day.

This usually is the case, at least with Visa and/or the Plus network, as they give the onshore Interbank Exchange Rate, which is several satang better than the T/T rate. Click this link for the Visa exchange rate of the day.

However, most credit card issuers pass on the 1% foreign transaction fee charged by the Plus and Cirrus networks -- and many others add an additional 2-3% to that. Thus, only with a few banks, like Capital One and Nationwide, will you escape fees and realize the Interbank Exchange Rate. (highchol, you must have one of these........?)

The above used to apply to MasterCard/Cirrus. But of late, with the onshore/offshore spread, they've apparently been using the odious offshore rates, although some have reported they've now come "onshore.' (And issuing banks have exchange rate latitude, so crummy exchange rates may lie with your bank).

When I asked the issuing bank of my MasterCard what the Cirrus exchange rate for a particular day was, their reply showed it being in the offshore category. But when I actually saw my statement, the exchange rate used for that day was just 1.5% less than the onshore Interbank Exchange Rate -- and 1% of that was my bank passing on the foreign exchange fee.

Go figure.

Link to comment
Share on other sites

On May 18 I had a bill of 27,412.33 THB. Amex charged me $800.99. (they charge 2%). If I had walked down to Bangkok Bank with $800.99 they would have given me 27,465.95 Baht or 53.61 Baht more.

If I used the off shore rate (Oanda): You buy 27,412.33 Thai Baht : 850.604 US Dollar.

So, using a non-Thai AMEX card localy must be using on shore rates.

Link to comment
Share on other sites

i have used my Uk issued credit card in Thailand and upon checking the statement i was given slightly better than the thai ( onshore ) published TT rate of the day.

Credit card (monthly statement) or debit card (each transactions is immediately debited to your account) ?

--------------

Maestro

Debit card transactions are immediately debited and I can see this on internet banking.

The credit card transactions takes a couple of days or so to show up on internet banking.

As I mentioned when I check the given rate on the day of the transaction the the rate I have recieved has been slightly better than the published TT rate of the day.

I use the same issuer Nationwide for both debit & credit cards ( visa ). Nationwide as mentioned in past posts do not make any additional charges ( except for cash withdrawls on credit card ). So using Debit card for cash withdrawls and credt card for other larger non cash transactions is as far as I can see the best way of getting money / living in thailand.

Edited by highchol
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.








  • Topics

  • Latest posts...

    1. 1

      Polvanera 17 Primitivo DOP Gioia del Colle: Bringing Puglia's Masterpiece to Thailand

    2. 2

      Calamity of voter fraud found! -- it's the immigrant wife of a Republican Cong. candidate

    3. 83

      IRAN ATTACKS ISRAEL

    4. 2

      Calamity of voter fraud found! -- it's the immigrant wife of a Republican Cong. candidate

    5. 5

      Bangkok airport runway gears up for November opening

    6. 76

      Having kids when old

    7. 44

      Trump Urges Israel to Strike Iran’s Nuclear Facilities

    8. 83

      IRAN ATTACKS ISRAEL

    9. 13

      Post-Y2K BUG & The New American Bedlamism: Was America, historically, ever this crazy?

    10. 51

      American Woman Flies 18 Hours to See Famous Hippo ‘Moo Deng’

    11. 103

      Boozy Australian Tourist Restrained by Phuket Airport Police

    12. 5

      Thai PM Paetongtarn Reflects on ACD Summit Success

    13. 83

      IRAN ATTACKS ISRAEL

    14. 2

      Calamity of voter fraud found! -- it's the immigrant wife of a Republican Cong. candidate

    15. 83

      IRAN ATTACKS ISRAEL

×
×
  • Create New...