Using Your Uk Debit Cards In Thailand

[bangkokrick]

I was quite shocked to read this article regarding the hidden costs of using your UK debit card in Thailand. I wsill certainly change the way that i use my cards in the future to reduce the bank charges. I hope that thais is useful to you Brits out there.

Debit card charges abroad

Cheers, Rick.

[Boo]

Get a nationwide flex account, free overseas withdrawal.

[bangkokrick]

Get a nationwide flex account, free overseas withdrawal.

I agree Boo and i was not aware of some of the charges that Barclays were taking. Maybe some others are in the same boat as me?

Cheers, Rick

[bangkokrick]

My Barclays statement does not show the charge for the ATM transaction. Just the amount that i have drawn so the charge must be deducted from the exchange rate. Its worth checking!

Cheers, Rick

[tw25rw]

Get a nationwide flex account, free overseas withdrawal.

So how does their exchange rate compare?

I always use my Citi debit card and pay a fee for the transaction, but as I take out 10-15k at a time, I can wear it.

[bangkokrick]

The rates are on the link of the OP.

Cheers, Rick

[billd766]

Get a nationwide flex account, free overseas withdrawal.

OK if you have a UK address but if not, forget it.

Sorry

[bangkokrick]

Get a nationwide flex account, free overseas withdrawal.

OK if you have a UK address but if not, forget it.

Sorry

Will a care of address suffice?

Cheers, Rick

[Boo]

I have found the exchange rates from nationwide to be ok. I compare from xe.com & they are always either same or slightly better.

[tw25rw]

Get a nationwide flex account, free overseas withdrawal.

OK if you have a UK address but if not, forget it.

Sorry

Will a care of address suffice?

Cheers, Rick

Doubt it. They usually need all kinds of proof of ID when you open a bank account.

[libya 115]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

[stevemcqueen]

Get a nationwide flex account, free overseas withdrawal.

Does this apply to their offshore accounts?

[libya 115]

Get a nationwide flex account, free overseas withdrawal.

Does this apply to their offshore accounts?

Nationwide Offshore Isle-Of-Man do not offer an ATM service, malheurusement.

www.nationwideinternational.com

[billd766]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

I use my LloydsTSB card to draw about 45k baht every month and I pay about £12.50 a month or around £150 a year. When I used to do the TT from the Isle of Man it used to cost me about £20 a month for one TT transfer or about £240 a year.

I am not sure where your bank is but I think you may need to check their fees.

[icequeen]

Is it definately only GBP 13 from lloyds tsb to kasikorn?

That is very cheap are there any other charges from either bank or is this all you pay?

[jaiyenyen]

Get a nationwide flex account, free overseas withdrawal.

OK if you have a UK address but if not, forget it.

Sorry

Will a care of address suffice?

Cheers, Rick

I have a Nationwide Flexaccount. I used the UK address of where I was living. When I moved to Thailand, I gave them a C/O address in the UK, they were happy with that.

On a slightly different note.

On one occasion, when my TGF (Now wife) was visiting me in the UK, I opened up a joint account for us, with me as her guarrentor. This meant that I was able to move money from my Flexaccount to the joint Flexaccount in the UK, and when she was back in Thailand she was able to withdraw the cash, from the joint A/C without charge, from an ATM. We set this up two years ago, and have never had any problems with the system.

Edited June 28, 2008 by jaiyenyen

[libya 115]

Is it definately only GBP 13 from lloyds tsb to kasikorn?

That is very cheap are there any other charges from either bank or is this all you pay?

A Standard International Moneymover is 25p per GBP 100 Minimum GBP 13 GBP

That gives a GBP 5,200.00 limit for a GBP 13 fee. See link below:

Lloyds TSB Charges

At Kasikorn, they take 200 baht as a receiving fee.

[libya 115]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

I use my LloydsTSB card to draw about 45k baht every month and I pay about £12.50 a month or around £150 a year. When I used to do the TT from the Isle of Man it used to cost me about £20 a month for one TT transfer or about £240 a year.

I am not sure where your bank is but I think you may need to check their fees.

Billd766: You are doing exactly what I used to do. Over five years I threw away about GBP 2500.00

Remember every time you use your ATM card you lose 2.99% exchange fee and 1.5% ATM fee. You say you withdraw 45K THB every month: That is costing you about GBP 31

If you had Lloyds TSB send you say 90,000 THB every two months to your Thai Bank account (GBP 13) you would be saving GBP 40 every two months, which is about GBP 240 per year. Bigger savings for you, if you had the bank send you three months or more money at a time for the same GBP 13 fee.

Please see my reply above for the Lloyds TSB charges link

[Rinrada]

Get a nationwide flex account, free overseas withdrawal.

OK if you have a UK address but if not, forget it.

Sorry

Will a care of address suffice?

Cheers, Rick

I have a Nationwide Flexaccount. I used the UK address of where I was living. When I moved to Thailand, I gave them a C/O address in the UK, they were happy with that.

On a slightly different note.

On one occasion, when my TGF (Now wife) was visiting me in the UK, I opened up a joint account for us, with me as her guarrentor. This meant that I was able to move money from my Flexaccount to the joint Flexaccount in the UK, and when she was back in Thailand she was able to withdraw the cash, from the joint A/C without charge, from an ATM. We set this up two years ago, and have never had any problems with the system.

wife and i have 4 Flex a/c and family/nieces have 2 cards for withdrawing /transfers in LOS....with No deductions,charges etc...also ..but "Mai Phut" most of her mates here in North London use her unoffical banking transfer service ...same day.......know wot i mean....for a small consideration... .

Local Samut Prac Banks must think nieces are Millionaires with the amount of dosh they put into local accounts....but MPrai...all a game...innit..

[jaiyenyen]

You're right Rinrada, it is all a game, but isn't it sweet when the winner is the customer, and not the bank

[billd766]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

I use my LloydsTSB card to draw about 45k baht every month and I pay about £12.50 a month or around £150 a year. When I used to do the TT from the Isle of Man it used to cost me about £20 a month for one TT transfer or about £240 a year.

I am not sure where your bank is but I think you may need to check their fees.

Billd766: You are doing exactly what I used to do. Over five years I threw away about GBP 2500.00

Remember every time you use your ATM card you lose 2.99% exchange fee and 1.5% ATM fee. You say you withdraw 45K THB every month: That is costing you about GBP 31

If you had Lloyds TSB send you say 90,000 THB every two months to your Thai Bank account (GBP 13) you would be saving GBP 40 every two months, which is about GBP 240 per year. Bigger savings for you, if you had the bank send you three months or more money at a time for the same GBP 13 fee.

Please see my reply above for the Lloyds TSB charges link

Here is a copy of the last 4 ATM transactions from my offshore account.

CASH CHARGE

CD 0917 17 JUN 08 £2.36 XR 63.3232

17 Jun 08 DEB CASH CHARGE

CD 0917 16 JUN 08 £2.40 XR 62.4805

CASH CHARGE

CD 0917 27 MAY 08 £2.43 XR 61.5195

CASH CHARGE

CD 0917 23 MAY 08 £2.45 XR 61.1434

As you can see the XR is getting better as the GBP is slowly rising against the baht.

Granted I dont get the exchange rate at the time but I do keep an eye on the daily exchange rate.

All the above were on 10k baht.

[libya 115]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

I use my LloydsTSB card to draw about 45k baht every month and I pay about £12.50 a month or around £150 a year. When I used to do the TT from the Isle of Man it used to cost me about £20 a month for one TT transfer or about £240 a year.

I am not sure where your bank is but I think you may need to check their fees.

Billd766: You are doing exactly what I used to do. Over five years I threw away about GBP 2500.00

Remember every time you use your ATM card you lose 2.99% exchange fee and 1.5% ATM fee. You say you withdraw 45K THB every month: That is costing you about GBP 31

If you had Lloyds TSB send you say 90,000 THB every two months to your Thai Bank account (GBP 13) you would be saving GBP 40 every two months, which is about GBP 240 per year. Bigger savings for you, if you had the bank send you three months or more money at a time for the same GBP 13 fee.

Please see my reply above for the Lloyds TSB charges link

Here is a copy of the last 4 ATM transactions from my offshore account.

CASH CHARGE

CD 0917 17 JUN 08 £2.36 XR 63.3232

17 Jun 08 DEB CASH CHARGE

CD 0917 16 JUN 08 £2.40 XR 62.4805

CASH CHARGE

CD 0917 27 MAY 08 £2.43 XR 61.5195

CASH CHARGE

CD 0917 23 MAY 08 £2.45 XR 61.1434

As you can see the XR is getting better as the GBP is slowly rising against the baht.

Granted I dont get the exchange rate at the time but I do keep an eye on the daily exchange rate.

All the above were on 10k baht.

O.K. It is easy to see exactly how much you are paying for each withdrawal, but what is hidden is the 2.99% exchange fee. For example on 17th June you received an exchange rate of 63.3232 but the true exchange rate was 65.2750.

If you had made an International Moneymover transaction you would have received the true rate 65.2750

Each time you withdraw 10K baht you are losing approx 300 baht as well as your ATM fee. Over time this cash loss mounts up.

Another tip:The maximum charge is GBP 4.50 as a Lloyds ATM fee so if you had withdrawn 30K (4.50 fee) then 10K (2.45 fee) your total ATM fees would only have been 6.75 instead of your above 9.64 a saving of 2.89 again over the course of several years this builds up into a tidy sum.

CONCLUSION

For the long-term Thailand resident, with a savings account at a Thai bank, International Moneymover transactions, every 2-3 months will make big savings over ATM withdrawals. Reasons being: 1. No ATM fee. 2. No 2.99% 'exchange' fee.

A GBP 13 flat fee for a four day transfer, plus Kasikorn Bank pay 0.75% interest over Lloyds TSB 0.10% interest.

Edited June 29, 2008 by libya 115

[billd766]

I save myself about GBP 500 a year by NOT using my Lloyds TSB Debit Card: Although it could be used in emergencies......

I feel foolish to admit that for many years here in Thailand I used my ATM card every couple of weeks to withdraw Thai Baht from the thousands of ATM's here in Thailand.

Now, using telephone banking (which is easily available) from UK banks, I simply make a telegraphic transfer request and send the money to my Kasikorn Savings Bank Account.

I request 3,000 GBP every few months, and it is in my Thai Bank four days later. Lloyds Telegraphic Transfer Fee is just GBP 13.

Massive savings!

If I were to withdraw GBP 3000 at Thai ATM's, then that above said GBP 13 pound fee would rise to a minimum of GBP 96. Five such transactions in a year (which is my norm) saves me nearly GBP 500.

Because of the 2.99% exchange fee + 1.5% ATM fee.

Of course, those of you with Nationwide accounts are in a very comfortable position, but like many others here in Thailand, I do not have a UK address.

So, if you are a long-stayer in Thailand, I suggest that Telegraphic Transfer is the way to go.......

I use my LloydsTSB card to draw about 45k baht every month and I pay about £12.50 a month or around £150 a year. When I used to do the TT from the Isle of Man it used to cost me about £20 a month for one TT transfer or about £240 a year.

I am not sure where your bank is but I think you may need to check their fees.

Billd766: You are doing exactly what I used to do. Over five years I threw away about GBP 2500.00

Remember every time you use your ATM card you lose 2.99% exchange fee and 1.5% ATM fee. You say you withdraw 45K THB every month: That is costing you about GBP 31

If you had Lloyds TSB send you say 90,000 THB every two months to your Thai Bank account (GBP 13) you would be saving GBP 40 every two months, which is about GBP 240 per year. Bigger savings for you, if you had the bank send you three months or more money at a time for the same GBP 13 fee.

Please see my reply above for the Lloyds TSB charges link

Here is a copy of the last 4 ATM transactions from my offshore account.

CASH CHARGE

CD 0917 17 JUN 08 £2.36 XR 63.3232

17 Jun 08 DEB CASH CHARGE

CD 0917 16 JUN 08 £2.40 XR 62.4805

CASH CHARGE

CD 0917 27 MAY 08 £2.43 XR 61.5195

CASH CHARGE

CD 0917 23 MAY 08 £2.45 XR 61.1434

As you can see the XR is getting better as the GBP is slowly rising against the baht.

Granted I dont get the exchange rate at the time but I do keep an eye on the daily exchange rate.

All the above were on 10k baht.

O.K. It is easy to see exactly how much you are paying for each withdrawal, but what is hidden is the 2.99% exchange fee. For example on 17th June you received an exchange rate of 63.3232 but the true exchange rate was 65.2750.

If you had made an International Moneymover transaction you would have received the true rate 65.2750

Each time you withdraw 10K baht you are losing approx 300 baht as well as your ATM fee. Over time this cash loss mounts up.

Another tip:The maximum charge is GBP 4.50 as a Lloyds ATM fee so if you had withdrawn 30K (4.50 fee) then 10K (2.45 fee) your total ATM fees would only have been 6.75 instead of your above 9.64 a saving of 2.89 again over the course of several years this builds up into a tidy sum.

CONCLUSION

For the long-term Thailand resident, with a savings account at a Thai bank, International Moneymover transactions, every 2-3 months will make big savings over ATM withdrawals. Reasons being: 1. No ATM fee. 2. No 2.99% 'exchange' fee.

A GBP 13 flat fee for a four day transfer, plus Kasikorn Bank pay 0.75% interest over Lloyds TSB 0.10% interest.

Granted I could draw more than the 10k baht but my ATM card has a limit of £250 per day.

The way that the GBP/THB has been going in the last 6 months I usually check the exchange rates before I withdraw cash.

In addition to that I did used to get a money transfer every month but that cost a fair amount as Lloyds was originally buying the THB in the UK and transferring that until I spotted it and asked them to transfer GBP and I would pay the charges at this end. That cost me a lot as well and at the time the exchange rate was much the same as the ATM rate.

I am more than happy to do it my way as I know where I am, but thank you very much for the advice.

Cheers

Billd766

PS I am now in New Zealand for a while and I will be transferring money into Thailand instead.

[libya 115]

QUOTE billd766

"Granted I could draw more than the 10k baht but my ATM card has a limit of £250 per day.

The way that the GBP/THB has been going in the last 6 months I usually check the exchange rates before I withdraw cash.

In addition to that I did used to get a money transfer every month but that cost a fair amount as Lloyds was originally buying the THB in the UK and transferring that until I spotted it and asked them to transfer GBP and I would pay the charges at this end. That cost me a lot as well and at the time the exchange rate was much the same as the ATM rate.

I am more than happy to do it my way as I know where I am, but thank you very much for the advice.

Cheers

Billd766

PS I am now in New Zealand for a while and I will be transferring money into Thailand instead. "

O.K. understood; just two quick points; when using International Moneymover on telephone banking always ask for standard rate GBP 13 and 'split' charges. THB is not sent any longer so all money sent will be sterling.

Also; if you have had an account with Lloyds TSB for a while, you can request an upgrade for your sterling debit card to GOLD this will give you a GBP 500 per day withdrawal limit and no more GBP 1.00 fee for debit card purchases overseas. Also fee-free Travellers cheques in Lloyds TSB branches in the U.K.

Cheers,

Edited June 29, 2008 by libya 115

[icequeen]

The difference is that you have an offshore account with lloyds tsb. I just have a standard UK account so it costs me £20 to send money to Thailand.

[libya 115]

The difference is that you have an offshore account with lloyds tsb. I just have a standard UK account so it costs me £20 to send money to Thailand.

Even a GBP 20 fee for International Moneymover can save you big money over regular ATM withdrawals overseas.

Plus, no reason why you cannot open a Lloyds TSB offshore account.

[billd766]

QUOTE billd766

"Granted I could draw more than the 10k baht but my ATM card has a limit of £250 per day.

The way that the GBP/THB has been going in the last 6 months I usually check the exchange rates before I withdraw cash.

In addition to that I did used to get a money transfer every month but that cost a fair amount as Lloyds was originally buying the THB in the UK and transferring that until I spotted it and asked them to transfer GBP and I would pay the charges at this end. That cost me a lot as well and at the time the exchange rate was much the same as the ATM rate.

I am more than happy to do it my way as I know where I am, but thank you very much for the advice.

Cheers

Billd766

PS I am now in New Zealand for a while and I will be transferring money into Thailand instead. "

O.K. understood; just two quick points; when using International Moneymover on telephone banking always ask for standard rate GBP 13 and 'split' charges. THB is not sent any longer so all money sent will be sterling.

Also; if you have had an account with Lloyds TSB for a while, you can request an upgrade for your sterling debit card to GOLD this will give you a GBP 500 per day withdrawal limit and no more GBP 1.00 fee for debit card purchases overseas. Also fee-free Travellers cheques in Lloyds TSB branches in the U.K.

Cheers,

Thanks for the information but it looks as though I may be here in NZ for a year or more si it is not a problem for a while.

Cheers Billd766

[saraburioz]

Nationwide Building Society is the only provider that does not make any additional charges for using your card abroad. If you get a Nationwide FlexAccount Visa Debit card, you won't be charged any extra conversion or transaction charges - no matter how you use it.

Does anyone know if I can get a Nationwide Offshore account without having a UK address. I'm Australian.

If I can would I be able to get the Visa Derbit card?

[theoldgit]

I used to use my HBOS debit card to withdraw cash, they charge £1.50 a pop and you probably get 1 Baht in the Pound less, so to withdraw £1000 would cost about £26. You can now send cash from HBOS website directly into a Thai bank account, they charge £9.50 per transaction and it reaches my Kasikorn account the next day. Not a lot of saving, but it all adds up.