What Uk/baht Exchange Rate Do Do Get Withdrawing From Atm

[Jessy]

I have an account with the Nationwide Building Society in the UK. The attraction is that they don't charge for making overseas withdrawals. But I undersatnd that Thailand has an onshore exchange rate and an offshore exchange rate. Is this right? What sort of exchange rate do you get withdrawing from an ATM (from the bank in UK) as opposed to changing cash in Thailand? Thanks.

[howtoescape]

I dont have a clue what the rates are at the moment, i have bank accounts with HSBC, Natwest and Nationwide, and Nationwide are light years ahead of the other banks in terms of customer service and integrotity, simple honest things such a not letting you go overdrawn by 10 pound so they can charge you 40 pound being one.

Or alternatively a Northern Rock account looks promising.

Edited September 17, 2007 by howtoescape

[intumult]

I dont have a clue what the rates are at the moment, i have bank accounts with HSBC, Natwest and Nationwide, and Nationwide are light years ahead of the other banks in terms of customer service and integrotity, simple honest things such a not letting you go overdrawn by 10 pound so they can charge you 40 pound being one.

Or alternatively a Northern Rock account looks promising.

Northern Rock are in deep sh*t. Google them or read the U.K. news pages

With a visa card I get more than I get exchanging money at the banks but the downside (for me) is that I get charged 4.75% on withdrawals. So while in the U.K. I am opening a Nationwide Bank Account

Edited September 17, 2007 by intumult

[JetsetBkk]

I dont have a clue what the rates are at the moment, i have bank accounts with HSBC, Natwest and Nationwide, and Nationwide are light years ahead of the other banks in terms of customer service and integrotity, simple honest things such a not letting you go overdrawn by 10 pound so they can charge you 40 pound being one.

Or alternatively a Northern Rock account looks promising.

Northern Rock are in deep sh*t. Google them or read the U.K. news pages

Err.. I think he was joking!

[jaiyenyen]

I would just like to add another bit of info about Nationwide Building Society.

I must start by saying that I already had a current a/c and an internet savings a/c with Nationwide.

Two years ago, when I was still living in the UK, my G/F came for a visit. While she was staying with me we went to the local Nationwide branch. I asked if it was possible for us to open a joint a/c.

I was told that providing I gave my home address as her place of residence, whilst in the UK, It would be ok.

I did this and a week or so later, we recieved joint cards.

This meant that when my G/F needed some money I simply transferred an amount into the joint a/c, and she could go to the ATM in Bangkok and withdraw the cash FOC.

Incidentally, I was straight with Nationwide, in telling them why I wanted the joint a/c.

Regards

Jaiyenyen

[offset]

I have an account with the Nationwide Building Society in the UK. The attraction is that they don't charge for making overseas withdrawals. But I undersatnd that Thailand has an onshore exchange rate and an offshore exchange rate. Is this right? What sort of exchange rate do you get withdrawing from an ATM (from the bank in UK) as opposed to changing cash in Thailand? Thanks.

Just came bacl from Pattaya the rate I got with Nationwide from ATM was about 0.5 to 0.75 Baht more than at the street exchanges (with no add ons) and about 5 baht more than Heathrow I will use it again

[katana]

I have used that card in Thailand. Rates were always good - the higher onshore rate. It also showed you your balance at home in the UK after each withdrawal, something a Lloyds TSB card couldn't manage for some reason lol.

[mrbojangles]

I just got back and have checked my nat west on-line account. I didn't have enough time (and too lazy) to switch some to the wifes Nationwide account. It has worked out that i ended up paying £152.41 (including the fee) for withdrawing 10,000 baht. So that equates to about 65.6 baht to the £

I will check my mrs Nationwide statement when it comes, to see what we got charged for withdrawing from them.

[Guemlum]

We have a Nationwide bank account and the Mrs made a withdrawl yesterday. I went online to check the exchange rate and she was getting 69.249 to the pound. From the beggining of August it has steadily risen from 67 to 69.249. Thats pretty ###### good for now. Hope this helps.

Guemlum

[Rinrada]

KW has been getting around 69bt to the £ over the last week in Bangers but got a feeling that the Northern wotsit debacle might ...."rock" the rates .

BB FX is around 68 at the mo....

Will do a withdrawel on Thursday when I get there (another jolli)and see what the score is....bucket and spade with me just in case.

[Dave the Dude]

I have an account with the Nationwide Building Society in the UK. The attraction is that they don't charge for making overseas withdrawals. But I undersatnd that Thailand has an onshore exchange rate and an offshore exchange rate. Is this right? What sort of exchange rate do you get withdrawing from an ATM (from the bank in UK) as opposed to changing cash in Thailand? Thanks.

If you go online and look at a FULL statement not a mini-statement, it will tell you the rates for each ATM withdrawal. I checked not long ago and the rates seemed reasonable.

Dave

p.s. I'm not on commission or working for them !

[Rinrada]

Just checked mine and getting /got 69.23 bt =Pound

[Khun Bob]

If you have the blue visa debit card this will tell you :

http://corporate.visa.com/pd/consumer_serv...HB&rate=0.0

You can thank Topfield (Now Banned - why?) for that one...

Visa rate is usually close to interbank. The mastercard/cirrus rates (Nationwide cirrus atm (red) card are beleived to be off shore rates - dont have evidence of this.

Does anyone use the red nationwide cirrus atm cards in thailand know what rates they have been getting recently ?

[Rinrada]

Red card is very basic and dosnt give you a balance on request...need the blue one.

Incid had to cash a TC yesterday and got 70 bt /pound.......bought another 1.5 rai....

Anyway now in FC lounge at Suwanna and very nice ...another G&T me thinks before the budgie take off time...

bye bye Tland ...again... pop gun mai

[Khun Bob]

Link posted below no longer seems to work - Visa state they are updating their website.

An alternative is :

http://www.fanwithaplan.com/

which seems a bit better as you can enter the charge your card company makes - for nationwide enter 0% !

HTH

If you have the blue visa debit card this will tell you :

http://corporate.visa.com/pd/consumer_serv...HB&rate=0.0

You can thank Topfield (Now Banned - why?) for that one...

Visa rate is usually close to interbank. The mastercard/cirrus rates (Nationwide cirrus atm (red) card are beleived to be off shore rates - dont have evidence of this.

Does anyone use the red nationwide cirrus atm cards in thailand know what rates they have been getting recently ?

[citizen33]

I am a great fan of Nationwide, but the one area where I have had problems is getting my wife's name on my account (to create a joint account). My wife has been resident in the UK for 4 years and has indefinite leave to remain. She has a Lloyds savings account, which has always been in the black. We have a four year old child. I have a professional job. The NW Flexaccount is not my main account but has been open for about 6 years and never been in the red. Three years ago I was told that my wife should apply again in two years. Last year I was advised that the bank was unable to accept her new application (even though we attached their original letter containing the 2 year request). I pursued this in a telephone call to the Flexaccount customer care office and was advised that this was because a credit agency check showed no information about my wife at the account address. It is not possible to get an electoral registration entry for a non-UK citizen. I have to say that I found the bank's attitude on this point unreasonable.

[Tingnongnoi]

I have been getting around 69.7-69.8 on recent withdrawls

[Khun Bob]

The following may help :

* Get her a NI no, I guess she already has one

* It is possible to get a non-uk onto the electoral register - may not strictly be allowed but I know it is possible and it will help

* open more flexaccounts your self - you can have as many as you want, but they want to know why after 3 now - i have more than 5

* apply in branch, at a more distant place. Apply for a basic flex, red card, no cheque or overdraft - they tend to credit score and go down to the lowest they can offer you

* it may be possible to get the same benefits of fee free atm withdrawl by using a post office mastercard with a positive balance - as you have overpaid all you are doing is accessing your owm money - it is when you start to take more money then is in the account (ie using a credit card as most people use it) that you would have to pay a cash advance fee - i have been mentioning this for over a year, but nobody has reorted using it and i personally have not tested it - this is infomation i gained from the post office credit card team - this card allows for overseas, foreign currency transations without fees just like the nationwide credit card - however, i beleive that the offshore rate is used not the onshore rate which visa have and are using

* read moneysavingexpert on how to improve a non-uk with indefinite leave to remain's credit score and how to challenge banks decisions.

* find out of there are any incorrect items in her credit report

* open a savings account - eg investdirect with nationwide in her name to get her known to nationwide

* find out why exactly you are being turned down - it should be the underwriting team that I beleive are based in swindon, that are making the decision. However, they may allow someone based in a branch to filter applications - could be someone else that is preventin the application from going ahead

* make an application online - when i want more accounts i just keep on doing this till i get lucky - so long as i can justify why i need more I will be able to get more. At the moment I have enough. But it does help to have a good, immaculate credit score. Even with that they still say no - so get as many as you can while you can as it is getting harder now to have several accounts. Once youve got them, you dont have to use them - still it does help to cycle through all your accounts and put a few transactions through them. Even if you have several thusand pounds with them in savings, they'll still say no.

And there are probably quite a few more things you can do

HTH

If anyone has some good reasons, that work, to get more accounts, please do share (or PM me)

I am a great fan of Nationwide, but the one area where I have had problems is getting my wife's name on my account (to create a joint account). My wife has been resident in the UK for 4 years and has indefinite leave to remain. She has a Lloyds savings account, which has always been in the black. We have a four year old child. I have a professional job. The NW Flexaccount is not my main account but has been open for about 6 years and never been in the red. Three years ago I was told that my wife should apply again in two years. Last year I was advised that the bank was unable to accept her new application (even though we attached their original letter containing the 2 year request). I pursued this in a telephone call to the Flexaccount customer care office and was advised that this was because a credit agency check showed no information about my wife at the account address. It is not possible to get an electoral registration entry for a non-UK citizen. I have to say that I found the bank's attitude on this point unreasonable.

[citizen33]

Thanks very much for this, Khunbob. Some of the suggestions are helpful. I have put comments below (within your text) to let the forum know what may work and not work. In a couple of cases a bit more information would be useful.

The following may help :

* Get her a NI no, I guess she already has one

Yes she has one, on a plastic card - didn't help when produced as ID at NW branch.

* It is possible to get a non-uk onto the electoral register - may not strictly be allowed but I know it is possible and it will help

It may be possible but in my judgment could lead to serious problems. I have heard that it is possible to get a statement filed with the credit reference agencies saying that a person is not registered because of their citizenship status.

* open more flexaccounts your self - you can have as many as you want, but they want to know why after 3 now - i have more than 5

This could be a good idea but I have always been unsure about what excuse to use, particularly as I do not channel my salary through my NW account. I tend to use the account only for channelling foreign spending, which NW may perceive as being a little utilitarian. My problem at the moment is that the card can't be in two places at once, and that I travel quite a lot myself and might want to use it to get a good FX rate on trips. So two accounts would solve my problem, though if I die my wife may still not be in such a good position.

* apply in branch, at a more distant place. Apply for a basic flex, red card, no cheque or overdraft - they tend to credit score and go down to the lowest they can offer you.

Perhaps worth a try but the address might be an issue.

* it may be possible to get the same benefits of fee free atm withdrawl by using a post office mastercard with a positive balance - as you have overpaid all you are doing is accessing your owm money - it is when you start to take more money then is in the account (ie using a credit card as most people use it) that you would have to pay a cash advance fee - i have been mentioning this for over a year, but nobody has reorted using it and i personally have not tested it - this is infomation i gained from the post office credit card team - this card allows for overseas, foreign currency transations without fees just like the nationwide credit card - however, i beleive that the offshore rate is used not the onshore rate which visa have and are using.

Have this card already as a backup and would be interested to hear if anybody has tried out this approach.

* read moneysavingexpert on how to improve a non-uk with indefinite leave to remain's credit score and how to challenge banks decisions.

Will read

* find out of there are any incorrect items in her credit report

Should check, but I was told it was just the total absence of any information that was the problem 'we cannot accept people if there is nothing at all'.

* open a savings account - eg investdirect with nationwide in her name to get her known to nationwide

Yes, may be a slow route to the goal.

* find out why exactly you are being turned down - it should be the underwriting team that I beleive are based in swindon, that are making the decision. However, they may allow someone based in a branch to filter applications - could be someone else that is preventin the application from going ahead

This is what I tried to do in my telephone call - of course, one is never sure 100%.

* make an application online - when i want more accounts i just keep on doing this till i get lucky - so long as i can justify why i need more I will be able to get more. At the moment I have enough. But it does help to have a good, immaculate credit score. Even with that they still say no - so get as many as you can while you can as it is getting harder now to have several accounts. Once youve got them, you dont have to use them - still it does help to cycle through all your accounts and put a few transactions through them. Even if you have several thusand pounds with them in savings, they'll still say no.

Any suggestions about valid reasons for an extra account welcome!

And there are probably quite a few more things you can do

HTH

If anyone has some good reasons, that work, to get more accounts, please do share (or PM me)

I am a great fan of Nationwide, but the one area where I have had problems is getting my wife's name on my account (to create a joint account). My wife has been resident in the UK for 4 years and has indefinite leave to remain. She has a Lloyds savings account, which has always been in the black. We have a four year old child. I have a professional job. The NW Flexaccount is not my main account but has been open for about 6 years and never been in the red. Three years ago I was told that my wife should apply again in two years. Last year I was advised that the bank was unable to accept her new application (even though we attached their original letter containing the 2 year request). I pursued this in a telephone call to the Flexaccount customer care office and was advised that this was because a credit agency check showed no information about my wife at the account address. It is not possible to get an electoral registration entry for a non-UK citizen. I have to say that I found the bank's attitude on this point unreasonable.

[Khun Bob]

Ok for starters some more reasons to get a few more flex accounts (always go for blue cards as visa gives onshore rates in Thailand)

* You need to withdraw in a day more than x cards would allow (where x is the extra number of accounts you want)

* Your going to be away for some time and your concerned that if you lose a card or it expires that nationwides policy is not to send cards abroad, so you could be seriously stuck - this may get you 2 more accounts

* You have several sources of income and want to keep them seperate so need x flex accounts (bit flakey) - also you need to start getting money going into your existing account - actually natiowide flex accounts are not too bad as current accounts

* Your travelling to several SEA countries and are very concerned about card fraud and theft (malaysia is particularly bad for this) - you need to have x accounts and cards so that you are not left without a way to get your cash if a card is cloned/stolen/misused (similar to second point but equally valid)

Fundamentally, the problem with flexaccounts is that they are current accounts - most people here want them mainly for the atm card - unfortuneately, the card you get with investdirect accounts isnt a maestro or visa card. You can have as many investdirect accounts as you want....

Still keep trying as there must be a way - I have more than 5 and have been told that so long as I have a reason I can have some more. At my last application for 2 more, they got me in the fact that I didnt use most of them - basically I had a couple that I used abroad and that wa about all I did. But at the time I did have a substantial amount of savings with them !

I use to have 2 online identities, but dragon b1tch in the local branch spotted the nice mistake new recruit fortuitously made 2 years earlier - so i ended up with all my accounts in 1 online identity. This is another way to potentially get more flex's - get more online identities and do online applicaions - for this to work you need 2 or more good addresses you can produce documentation for. Then apply for investdirect accounts in branch to get started, and dont make any asociations with your existing online identity.

On the electoral register - it most definitely can be done and there is little checking done. I'm not going to say anymore...

[Thanyaburi Mac]

I have an account with the Nationwide Building Society in the UK. The attraction is that they don't charge for making overseas withdrawals. But I undersatnd that Thailand has an onshore exchange rate and an offshore exchange rate. Is this right? What sort of exchange rate do you get withdrawing from an ATM (from the bank in UK) as opposed to changing cash in Thailand? Thanks.

Yesterday, Sunday, I did an ATM withdrawal from my U.S. credit union, got baht 33.90 to the U.S. $$

Just checked the Siam Commercial Bank's rate for this morning, which is 33.90.  Note, it was 33.92 as of Friday's closing rate.

SCB's cash rate for U.S. $100 bill is 33.73.

Their credit card "charge" rate is 33.4 and their credit card "cash advance" is 32.92.

http://www.scb.co.th/html/exchange/bk-txtexchange.htm

Reckon the ATM route is the best.

However, need to check your card's issuing bank.  Many in the U.S. charge $1-$3 per withdrawal and some slap a 1%-3% fee on top of that!!  If so, time to set up another account with a bank that doesn't do so.

Mac

[sumrit]

I got 69.6 baht/£ four days ago with my Nationwide card. Ihave accounts at Nationwide, LloydsTSB and HSBC. LloydsTSB charge a withdrawal fee but give the onshore rate, HSBC don't charge me a fee but I only get the offshore rate while Nationwide don't charge a fee and give the onshore rate. I believe your Nationwide ATM card must be a 'visa' card to get the onshore rate though.

[siam-i-am]

I have an account with the Nationwide Building Society in the UK. The attraction is that they don't charge for making overseas withdrawals. But I undersatnd that Thailand has an onshore exchange rate and an offshore exchange rate. Is this right? What sort of exchange rate do you get withdrawing from an ATM (from the bank in UK) as opposed to changing cash in Thailand? Thanks.

I've used a Nationwide debit card for about 5 years always top rate and never any charges I've also got a internet account so if current account gets low I top up and use same day excellent.

[Khun Bob]

I believe that the way it works for onshore / offshore rates are :

Visa - onshore

Maestro/mastercard - offshore

Topfield did alot of research on this over a year ago - but TV banned him - great ban people who put a lot in to the forums, keep the people who can make one liners, but fundamentally add little.