kwilco Posted May 16, 2023 Author Share Posted May 16, 2023 5 hours ago, Pib said: Dynamic Currency Conversion (DCC) could come into play where the Thai bank/ATM offers their local exchange rate versus the card-network (i.e., Visa, Mastercard, etc) rate. Since a DDC rate will typically be much worst than the card-network rate be sure to read the ATM screen wording closely and push whatever button that declines the offered DCC rate. Agree that you don't want DCC - but the definition I have is not the same as yours, not local currency but your home currency "Dynamic currency conversion (DCC), and sometimes referred to as cardholder preferred currency (CPC), allows customers to pay for a product or service in a foreign country using their home currency instead of the local currency. " - https://www.forbes.com/advisor/credit-cards/dynamic-currency-conversion/ Link to comment Share on other sites More sharing options...
torturedsole Posted May 16, 2023 Share Posted May 16, 2023 3 minutes ago, kwilco said: Agree that you don't want DCC - but the definition I have is not the same as yours, not local currency but your home currency "Dynamic currency conversion (DCC), and sometimes referred to as cardholder preferred currency (CPC), allows customers to pay for a product or service in a foreign country using their home currency instead of the local currency. " - https://www.forbes.com/advisor/credit-cards/dynamic-currency-conversion/ Don't worry about that. Any mention of DCC should be ignored and let the card do the f/x transaction. It's very easy but also easy to get ripped off if you press the wrong button. Link to comment Share on other sites More sharing options...
Pib Posted May 16, 2023 Share Posted May 16, 2023 6 minutes ago, kwilco said: Agree that you don't want DCC - but the definition I have is not the same as yours, not local currency but your home currency "Dynamic currency conversion (DCC), and sometimes referred to as cardholder preferred currency (CPC), allows customers to pay for a product or service in a foreign country using their home currency instead of the local currency. " - https://www.forbes.com/advisor/credit-cards/dynamic-currency-conversion/ Above is correct when "paying" for/buying something. Typically, it's approx 5.9% worst....the percentage is usually stated on the checkout/payment receipt. But the bottom line is you are still getting the local processing bank's DCC rate. But when withdrawing at an ATM DCC means the owner of that ATM (i.e., the Thai bank) is offering you "their DCC rate which is going to be significantly worst than the card network rate.....but the ATM screen will use vague wording in trying to hook you into thinking their rate is a good thing. DCC good for the bank, bad for the customer. Link to comment Share on other sites More sharing options...
Chivas Posted May 17, 2023 Share Posted May 17, 2023 On 5/14/2023 at 12:01 AM, Skipalongcassidy said: My bank pays all of my fees back to me every month... Yes I've always doubted this and no one has ever been able to show otherwise Whilst I'll use an extreme example it nonetheless is valid If the ATM fee is 220 baht a pop and current Dollar/Baht is around 34 that entails a refund of $6.47 every usage (ignore any other card related fees) Now use the card every day....... Thats around $194 a month There simply must be a "limit" on these refund of fees for obvious reasons Link to comment Share on other sites More sharing options...
Skipalongcassidy Posted May 17, 2023 Share Posted May 17, 2023 13 hours ago, Chivas said: Yes I've always doubted this and no one has ever been able to show otherwise Whilst I'll use an extreme example it nonetheless is valid If the ATM fee is 220 baht a pop and current Dollar/Baht is around 34 that entails a refund of $6.47 every usage (ignore any other card related fees) Now use the card every day....... Thats around $194 a month There simply must be a "limit" on these refund of fees for obvious reasons If you use the ATM everyday... why would you? I do not use the ATM everyday so I do not know if my bank would object to daily usage and advise me to be smarter about withdrawing money... I use it once a week to withdraw 25,000Tbaht at a time and they pay the fees every month. Link to comment Share on other sites More sharing options...
shortstop2 Posted May 23, 2023 Share Posted May 23, 2023 On 5/17/2023 at 3:13 PM, Chivas said: There simply must be a "limit" on these refund of fees for obvious reasons I also suspect that there is a secret undisclosed limit. In the past I used my Fidelity Visa debit card linked to a Fidelity Cash Management Account. The 220 baht gets refunded in a few days. Visa imposes no fee. Fidelity imposes no fee. The exchange rate is (or very close to) the interbank rate. If the Fidelity card is linked to your Fidelity brokerage account then you don't get the 220 baht refunded. 1 Link to comment Share on other sites More sharing options...
gamb00ler Posted May 24, 2023 Share Posted May 24, 2023 (edited) On 5/17/2023 at 3:13 PM, Chivas said: Now use the card every day....... Thats around $194 a month There simply must be a "limit" on these refund of fees for obvious reasons Your concern over the generosity of the institutions offering this perk is admirable. Since their terms of service don't list a limit I presume you'll just have to find it with your own experimentation. ???????? I'm quite satisfied with the few refunds I've been given. Edited May 24, 2023 by gamb00ler Link to comment Share on other sites More sharing options...
NextG Posted May 24, 2023 Share Posted May 24, 2023 On 5/17/2023 at 3:13 PM, Chivas said: Yes I've always doubted this and no one has ever been able to show otherwise Whilst I'll use an extreme example it nonetheless is valid If the ATM fee is 220 baht a pop and current Dollar/Baht is around 34 that entails a refund of $6.47 every usage (ignore any other card related fees) Now use the card every day....... Thats around $194 a month There simply must be a "limit" on these refund of fees for obvious reasons Read for yourself… https://www.schwab.com/savings Link to comment Share on other sites More sharing options...
Skipalongcassidy Posted May 24, 2023 Share Posted May 24, 2023 3 minutes ago, NextG said: Read for yourself… https://www.schwab.com/savings You can lead a horse to water, but you cannot make it drink... there is always a doubting Tom. Link to comment Share on other sites More sharing options...
Dan O Posted May 24, 2023 Share Posted May 24, 2023 On 5/14/2023 at 8:38 PM, bignok said: No they give interest as well. No fees. Can get over 5%. I'm interested, What bank is paying you 5 % interest on your account checking or savings account? Link to comment Share on other sites More sharing options...
gamb00ler Posted May 24, 2023 Share Posted May 24, 2023 (edited) 24 minutes ago, Dan O said: I'm interested, What bank is paying you 5 % interest on your account checking or savings account? Here's a good site to find high interest rate accounts in USA: https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts?trk=nw_gn_5.0 or you can get short term CD's: Edited May 24, 2023 by gamb00ler Link to comment Share on other sites More sharing options...
bignok Posted May 24, 2023 Share Posted May 24, 2023 22 minutes ago, Dan O said: I'm interested, What bank is paying you 5 % interest on your account checking or savings account? Whatever country you want just search for highest yielding savings accounts with no fees. Or best card for travel. Link to comment Share on other sites More sharing options...
shortstop2 Posted May 24, 2023 Share Posted May 24, 2023 Re CDs,there is a difference between brokered CDs which places like Fidelity and Schwab offer and a regular CD offered by brick and mortar banks. At Fidelity, you can sell CDs but the market is not very liquid and you will take a substantial haircut. With a brick and mortar CD you often lose some interest if you break it early, perhaps three months. It is cheaper to break a CD with most brick and mortar banks. I think online banks that offer their own CDs such as Ally and Cap1 have penalties similar to the brick and mortar banks. Ay Fidelity you can buy either call protected or non-call protected CDs. It is far better to by call protected brokered CDs, especially for long durations, which means the bank does not have the right to return your money early. Now you're not going to want to break a 1 month CD and most likely not a 3 month CD, But 5 years is a long time to tie up your money in an instrument that's not easy to break in a cost effective manner. So (except for the current debt ceiling crisis) Treasuries are a better alternative in which the Bid-Ask spread is reasonably tight. But money market funds at Fidelity are paying a good rate too. 4.9% with a minimum 10K purchase in an IRA (100K if not in an IRA). Link to comment Share on other sites More sharing options...
Chivas Posted May 24, 2023 Share Posted May 24, 2023 (edited) 3 hours ago, Skipalongcassidy said: You can lead a horse to water, but you cannot make it drink... there is always a doubting Tom. .......and yet as totally expected when you read the actual notes carefully (you did notice the entry "2" ) that is not the case No bank on earth is going to refund $200 a month lol. You know it I know and everyone with an IQ of 7 knows it (Edited to add....what a rip off savings rate they offer) Edited May 24, 2023 by Chivas Link to comment Share on other sites More sharing options...
Popular Post Skipalongcassidy Posted May 25, 2023 Popular Post Share Posted May 25, 2023 19 hours ago, Chivas said: .......and yet as totally expected when you read the actual notes carefully (you did notice the entry "2" ) that is not the case No bank on earth is going to refund $200 a month lol. You know it I know and everyone with an IQ of 7 knows it (Edited to add....what a rip off savings rate they offer) Actually, they will if it is an ATM usage fee while withdrawing cash or using the debit card... obviously you are the horse who refuses to drink... reading note "2" and understanding what it says are not your forte, nor is proper punctuation and sentence structure... 555 2 1 1 Link to comment Share on other sites More sharing options...
scottiejohn Posted July 5, 2023 Share Posted July 5, 2023 Do AEON ATM's still offer free cash withdrawals for foreign debit cards? Link to comment Share on other sites More sharing options...
Pib Posted July 5, 2023 Share Posted July 5, 2023 1 minute ago, scottiejohn said: Do AEON ATM's still offer free cash withdrawals for foreign debit cards? No....that ended years ago. 1 1 Link to comment Share on other sites More sharing options...
Sticky Rice Balls Posted July 5, 2023 Share Posted July 5, 2023 On 5/14/2023 at 6:38 AM, scubascuba3 said: they probably charge you in other ways reminds me of my last happy massage ???? 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted July 8, 2023 Share Posted July 8, 2023 On 5/14/2023 at 4:04 AM, bignok said: Atm fee 220 baht 5% conversion fee Get a bank card with no fees Name a competent bank that has a debit card and no fees Link to comment Share on other sites More sharing options...
scottiejohn Posted July 8, 2023 Share Posted July 8, 2023 11 minutes ago, NoshowJones said: Name a competent bank that has a debit card and no fees First Direct have removed all foreign transaction fees! 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted July 8, 2023 Share Posted July 8, 2023 1 minute ago, scottiejohn said: First Direct have removed all foreign transaction fees! Is that a Thai bank? I've never heard of them. 1 Link to comment Share on other sites More sharing options...
scottiejohn Posted July 8, 2023 Share Posted July 8, 2023 19 minutes ago, NoshowJones said: Is that a Thai bank? I've never heard of them. Read the title of the OP! 1 Link to comment Share on other sites More sharing options...
gamb00ler Posted July 8, 2023 Share Posted July 8, 2023 25 minutes ago, NoshowJones said: Is that a Thai bank? I've never heard of them. this topic is about fees charged by ATM's when using a foreign debit card. 1 Link to comment Share on other sites More sharing options...
bignok Posted July 8, 2023 Share Posted July 8, 2023 1 hour ago, NoshowJones said: Name a competent bank that has a debit card and no fees ING 1 Link to comment Share on other sites More sharing options...
bignok Posted July 8, 2023 Share Posted July 8, 2023 (edited) Charles Schwab Edited July 8, 2023 by bignok 1 Link to comment Share on other sites More sharing options...
DrJoy Posted July 8, 2023 Share Posted July 8, 2023 On 7/5/2023 at 2:41 PM, scottiejohn said: Do AEON ATM's still offer free cash withdrawals for foreign debit cards? No. Its 150 baht per trx 1 1 Link to comment Share on other sites More sharing options...
NoshowJones Posted July 8, 2023 Share Posted July 8, 2023 1 hour ago, gamb00ler said: this topic is about fees charged by ATM's when using a foreign debit card. Really?? 2 Link to comment Share on other sites More sharing options...
scottiejohn Posted July 8, 2023 Share Posted July 8, 2023 (edited) 45 minutes ago, DrJoy said: No. Its 150 baht per trx Thanks but; Slightly better than 240 a withdrawal but it would cost me more than the difference to get to one sadly! Edited July 8, 2023 by scottiejohn Link to comment Share on other sites More sharing options...
Pib Posted July 8, 2023 Share Posted July 8, 2023 2 hours ago, NoshowJones said: Name a competent bank that has a debit card and no fees Schwab and Service Credit Union---all foriegn transaction/ATM fees reimbursed. 1 1 Link to comment Share on other sites More sharing options...
bignok Posted July 8, 2023 Share Posted July 8, 2023 On 5/24/2023 at 3:09 PM, Chivas said: .......and yet as totally expected when you read the actual notes carefully (you did notice the entry "2" ) that is not the case No bank on earth is going to refund $200 a month lol. You know it I know and everyone with an IQ of 7 knows it (Edited to add....what a rip off savings rate they offer) Normally 5 refunds a month So 5x 220 baht. 1 Link to comment Share on other sites More sharing options...
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