US ATM Card

[pkspeaker]

I hadn't used my US ATM card to get money for a while.. looks like i got hit with a 5% exchange rate this or that.. i think i lost $60. . last time i used it i got the proper exchange rate,, what did i do wrong?

[Bill97]

8 minutes ago, pkspeaker said:

a 5% exchange rate this or that.

What does that mean?

[chickenslegs]

Did the ATM give you the choice of paying in your own currency or local currency. If you choose your own currency it will cost more.

Some ATMs may offer you a ‘service’ of being charged in your local currency (i.e. GBP). It’s always best to decline this option, choosing instead to be charged in THB.

https://wise.com/gb/blog/atms-in-thailand

[jas007]

18 minutes ago, pkspeaker said:

I hadn't used my US ATM card to get money for a while.. looks like i got hit with a 5% exchange rate this or that.. i think i lost $60. . last time i used it i got the proper exchange rate,, what did i do wrong?

Depending on your US banks and it's foreign ATM fee, you can pay a lot to take out money when you consider that fee, the foreign transaction fee, and the currency conversion fee, and the fee charged by the local ATM. that's just how it is unless you plan it out in advance.  

 

Some US banks won't charge a foreign transaction fee, some won't if you have the right kind of account with a certain balance level. Others might refund any foreign ATM fee.