Paypal Debit Card For Atm Cash - Good Idea?

[Lopburi99]

I just completed my monthy ATM cash withdrawals using my Bank of America debit card. Each 20,000 baht withdrawal resulted in a 592.45 USD debit to my account. This calculates out to be only 33.76 THB per USD. According to XE.com, the THB/USD rate has been about 34.2 all day today, so I assume what I am seeing is the new 3% fee kicking in which I have read about here on TV. I don't want to pay this new fee (for me about $60/month) every month indefinitely so I am looking for a good alternative. (Damned BofA purchased my smaller bank, LaSalle, this year. LaSalle never charged a fee!)

I have a PayPal debit card which works here in Thailand. I think I read the fee is only $1 USD per transaction. There is a small $400 USD per day ATM withdrawal limit, but I can live with that.

My question is: For those of you using PayPal debit cards here before, are you satisfied? Any problems? Is the exchange rate accurate?

Thanks in advance

Edited October 5, 2008 by Lopburi99

[blue eyes]

I just recieved a letter from one of my banks in the US that I will now be charged a 1% fee for any international withdraw with my ATM card.The first 10 withdraws were always free anywhere in the world.I guess that was costing them too much.Oh wellllllllllll

Edited October 7, 2008 by blue eyes

[nembleton]

Yes, or maybe simply they are out of blood ( cash here ) and they are catching easy patches to make the $ easier and avoid bankruptcy.

I strongly advise not to have any money in any american bank institution, as they will charge as hel_l to reinflow blood.