Market Village And International Visa Payments

[Richie1971]

Just come back from Market Village and paid for some clothes in a shop where the crocodile is their world famous logo.

Paid for my purchase on my UK Visa debit card as usual and was surprised to see that they have their own exchange rate and you actually pay in baht using their own currency exchange rates which was 53.9 = £1 today - The official rate today was around 56bht=1£

Although this has happened to me in Home Pro before I never thought it was across the board for the whole shopping centre, I bought from the crocodile famous shop about 2 months ago and was charged in baht. (without any reference to their own exchange rate, Nationwide gave me the proper rate when I looked on my statement.

This is especially relevant if you are considering a big purchase in Home Pro - take cash or a Thai debit card - this is commission by stealth.

[d0ndela]

Even better yet, withdraw the cash in an ATM or for real big purchases go to your bank. Using any kind of card in shops here is not a smart idea, it's not just Market Village.

I have a shop, and the bank charges 2% of all transactions (VISA & MasterCard) that we have on our credit card machine, this is thai cards, we've never tried with a foreign card, but I wouldn't dare to look at the exchange rates like you say. I guess that's why every time we go to the bank we always see someone with literally millions in cash, they don't want to pay 2% of their car, motorbike, house, whatever in commision to the bank.

And don't even get me started on online transaction fees, that's between 4-5% for all cards. They don't make it easy for us, that's for sure.

[Richie1971]

Even better yet, withdraw the cash in an ATM or for real big purchases go to your bank. Using any kind of card in shops here is not a smart idea, it's not just Market Village.

I have a shop, and the bank charges 2% of all transactions (VISA & MasterCard) that we have on our credit card machine, this is thai cards, we've never tried with a foreign card, but I wouldn't dare to look at the exchange rates like you say. I guess that's why every time we go to the bank we always see someone with literally millions in cash, they don't want to pay 2% of their car, motorbike, house, whatever in commision to the bank.

And don't even get me started on online transaction fees, that's between 4-5% for all cards. They don't make it easy for us, that's for sure.

I've been here 4 years and have never had this issue anywhere else except Market Village in Hua Hin - I use my card regularly elsewhere and always pay the official rate - I am not buying from just a shop but an massive international chain - they usually absorb the fees - they do not operate this system in the crocodile shop in BKK - just in Hua Hin Market Village

[Yoshitaka]

Convenience comes at a price.

[Richie1971]

Convenience comes at a price.

Only in Market Village it would seem

[mjperry]

This is a feature VISA offer, supposedly to make it easier for travellers so they know exactly what they're paying while abroad, VISA insist you should always have the option to refuse it and ask to pay in the local currency allowing your bank to handle the exchange rate, every time a shop has tried this on me when i've used a foreign card in the past i've sent them back to their card machine to redo it in Baht and not UK pounds.

Martin

[Richie1971]

This is a feature VISA offer, supposedly to make it easier for travellers so they know exactly what they're paying while abroad, VISA insist you should always have the option to refuse it and ask to pay in the local currency allowing your bank to handle the exchange rate, every time a shop has tried this on me when i've used a foreign card in the past i've sent them back to their card machine to redo it in Baht and not UK pounds.

Martin

Cheers for that Martin - I never knew you could ask them to redo it - It is a commission scam whichever way you look at it - I think you pay about 2 baht extra per £ - I did outline my displeasure but the shop people didn't really seem to understand

[PatinBKk]

Just come back from Market Village and paid for some clothes in a shop where the crocodile is their world famous logo.

Paid for my purchase on my UK Visa debit card as usual and was surprised to see that they have their own exchange rate and you actually pay in baht using their own currency exchange rates which was 53.9 = £1 today - The official rate today was around 56bht=1£

Although this has happened to me in Home Pro before I never thought it was across the board for the whole shopping centre, I bought from the crocodile famous shop about 2 months ago and was charged in baht. (without any reference to their own exchange rate, Nationwide gave me the proper rate when I looked on my statement.

This is especially relevant if you are considering a big purchase in Home Pro - take cash or a Thai debit card - this is commission by stealth.

I follow the exchange rate throught the day, yesterday XE was quoting 55.4 average, today is upto 56.3 however, I have done the same with Nationwide and they always give about 0.7 less than XE, you were probably charged at Visas rate which of course is always going to be at the bottom end

[banjanti]

It's a huge rip off made by Thai banks, not by specific shops. There are ridiculous exchange rates made on cards transactions.

It happens to me when I paid for my wife new boobies The bill was for 115k bhat! On their exchange rate I loose around 300 EUR! I noticed the difference and insisted on cancelling the transaction. On you invoice there is an information that you can pay with local currency if you don't agree with fx. Unfortunately Thais don't leave you this option BEFORE making the transaction...so it's a little time consuming, but it's your RIGHT not to agree with it and proceed with the payment in bhat with the same card.

[niggle]

This is normal practice anywhere but you should have been asked if you want to pay in baht or pounds