Don't give Thai banks a gift with nothing given in return.

[In Full Agreement]

 

 

 

I occasionally check to see what the actual rate is with Thai ATMs.     For the last couple of years the banks offer to do a currency transaction rather than leaving it u to one's own  bank.

 

At least for the last two times I withdrew 30K THB from the Yellow ATM  the currency conversion was offered fo a price of $60.          That sixty USD for the bank doing absolutely nothing.

 

I suggest carefully clicking on the "continue without conversion" option an

 

d save yourself more than enough Baht to have a nice dinner.

 

 

[Lacessit]

Banks use "Dynamic Currency Conversion" . It's a polite term for daylight robbery.

 

If I want cash, I use my Thai savings passbook. No fees.

 

I would only use a Thai ATM in an emergency.

[Upnotover]

49 minutes ago, In Full Agreement said:

 

 

 

I occasionally check to see what the actual rate is with Thai ATMs.     For the last couple of years the banks offer to do a currency transaction rather than leaving it u to one's own  bank.

 

At least for the last two times I withdrew 30K THB from the Yellow ATM  the currency conversion was offered fo a price of $60.          That sixty USD for the bank doing absolutely nothing.

 

I suggest carefully clicking on the "continue without conversion" option an

 

d save yourself more than enough Baht to have a nice dinner.

 

 

 

Shops and hotels, etc. also attempt this, not only in Thailand.  Never accept it.  

[SAFETY FIRST]

55 minutes ago, In Full Agreement said:

Don't give Thai banks a gift with nothing given in return. 

Every December I get a gift from my Kasikorn bank manager. 

 

Usually, Inside the bag is an umbrella, coffee cup, calendar and many other gifts. 

 

[thesetat]

58 minutes ago, In Full Agreement said:

 

 

 

I occasionally check to see what the actual rate is with Thai ATMs.     For the last couple of years the banks offer to do a currency transaction rather than leaving it u to one's own  bank.

 

At least for the last two times I withdrew 30K THB from the Yellow ATM  the currency conversion was offered fo a price of $60.          That sixty USD for the bank doing absolutely nothing.

 

I suggest carefully clicking on the "continue without conversion" option an

 

d save yourself more than enough Baht to have a nice dinner.

 

 

I agree with your comment to use continue without conversion. The rates are really bad plus there is a fee added to it. I used to use ATM to get my money from overseas. But each time I was losing 3000 - 6000 baht per transaction. That is ridiculous. Now I just use Wise to make a free transfer with no fees and I lose about 500 baht per transaction. 

[bkk6060]

Forget it use ATM for emergencies.

[Ralf001]

10 minutes ago, bkk6060 said:

Forget it use ATM for emergencies.

when there is no emergency how do I get cash ?

 

Cash is king BTW, credit card is for emergencies !

[JohnnyBD]

I get cash from SCB ATM with my foreign bank debit card. I always use the "continue without conversion" button. I check the Visa exchange rate online before I make withdrawals and it's correct every time. SCB charges 220b fee, not 250b fee. My bank refunds the 220b fee. The difference in the Visa rate and spot rate is about .10 THB, not bad. The Visa rate changes around noon BKK time, so I watch the spot rate, and if it drops overnight, I will go get cash before Visa lowers their rate. My Chase debit card uses the Visa rate, not SCB’s rate. I use my foreign bank CC for everyday purchases and I always pay in THB, which means the Visa rate will apply with no conversion fees.

Yes, it's quite expensive to let the Thai banks and the retail stores do the conversions.

[KhunLA]

BBL now showing that option, no thanks, as almost a whole 1 baht less than choosing 'without' conversion.