Withdrawing Money From Bank Counter With Passport

[Briggsy]

do you have to have your passport or do they accept a copy of it?

A number of people say they were not charged any fees. Is it because they did not see a separate fee charge or they determined that their exchange rate was within the range for that point in time. There may be hidden % charges taken of the top from either the Thai or the foreign bank.

NO, not with Nationwide. You may not be familiar with their policy. Nationwide do not impose charges. They pass on a 1% foreign transaction fee from Visa.

I recently tested this by making an ATM withdrawal and then immediately entering the branch and making a counter withdrawal for the same amount. There were no charges applied by the Thai bank for a counter withdrawal either overtly stated or hidden in the exchange rate.

Thanks for the heads up.

Was the exchange rate the same for both withdrawals?

Is there a minimum amount I can withdraw at the bank counter?

I can give you the low-down for Nationwide GBP withdrawals. If you are using a different currency or a different bank, different bank policies will apply. Before my detractors leap down my throat, I reiterate this is for Nationwide only. I have posted this before but will repost here.

Initially the rate for both withdrawals was absolutely identical and in line with what one would expect for Visa's international exchange rate. As a rough comparison, it was clearly better than the Thai bank rates for cash or traveller's cheque exchange. For those of you familiar with Nationwide, the transaction appears on the full statement about 2 working days later. During that time the pound strengthened against the baht. The rate for the counter withdrawal appeared on the full statement at a better rate, i.e. much to my favour whilst the ATM withdrawal remained unchanged.

The reason for this is that Nationwide ATM withdrawals are given Visa's international exchange rate at the moment of withdrawal but counter withdrawals from Thai banks are given the Visa rate from the following day. I have used the Bank of Ayudhaya for counter withdrawals on a number of occasions.

No minimum amount as far as I am aware.

[parryhandy]

I withdrew 10000 baht with my Nationwide from a UOB atm on sunday and also got 55.38.

Unfortunately, trying to find a Sunday rate is difficult. But it does seem a little strange you didn't do better, as that assumes the rate dipped down to 55.85 on Sunday -- from 56.17 on Friday. And back to 56.18 on Monday.

But, since we believe UOB is not charging an owner's fee -- and since Nationwide Debit card is, for now, charging .84% -- it would seem that the wholesale rate that Visa got on Sunday was, indeed, 55.85.

Anyway, trying to nail down rates is akin to jello. Even doing a counter operation -- then doing something similar with the same bank's ATM -- could be misleading, even when you factor out the 150bt ATM fee. Why? Because ATM/pin operations use a same-day exchange rate, while signature operations (credit, off-line debit, and counter) wait a day or so before using the exchange rate in effect when processed.

So, solving the counter vs. ATM question might be difficult. So far, the only really bad deal I've seen here is with SCB -- where their counter operations use the DCC rate, advertised quite freely on their website. Yes, you can get up to 200,000bt -- if you're willing to pay about a 3.5% add-on fee. I guess, for some folks in a hurry, with large needs, this might be ok.

I think they give a slightly reduced rate at weekends or holidays just in case the rate gaps down when the markets open again ?

I check the rates here http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp and have noticed that since visa was took over (?) the rates always a nice round number now whereas before it was always to two decimal places.

[vagabond48]

I check the rates here http://www.corporate.visa.com/pd/consumer_...er_ex_rates.jsp and have noticed that since visa was took over (?) the rates always a nice round number now whereas before it was always to two decimal places.

I stopped using the visa web page cause they don't update their information timely. I have sometimes seen the same rate for several days (not including w/e) which I think is not likely.

Anyway, their wording tells you it is an approximate rate.

"Use the currency converter below to get an indication of the rate you may receive when using your Visa card.

Edited June 23, 2009 by vagabond48