I requested £300 in Sterling be transferred to my Bangkok Bank account from Barclays Bank in the UK via my Visa card inside the bank. Uness I am reading this incorrectly, they have

A) Transferred Thai Baht not Sterling.

Also Visa have charged £4.50.

I thought that Sterling transfers via a Visa card you do not pay? Or am I as well off using the ATM?

22/02/2010 Card Purchase -£302.92

BBL. B THAILAND

AMOUNT IN THB 15000.00 EXCH RATE 50.265 REF 049 xxxxxxx BCC INCLUDING COMMISSION £7.99 FEE OF £4.50

TIA for your help

Is your Bank Bank account a Sterling account? If it is not then the funds will automatically be converted to Baht upon receipt. Also, I can reconcile those numbers you posted, either way, that was an expensive exchange with a commission and a charge on top - the exchange rate itself looks like the current TT rate which is good but the charges you paid eroded any cost advantage of that rate.

your visa's surcharge seems excessive....

my usa visa card only charges 2.00 usd per each cash withdrawal transaction....

recently i began to notice visa card used to pay hospital bills also incurs a 2% surchage fee, irrespective of amount....

at bkk bank, i was always informed before the conclusion of each transaction what the exchange rate was for the particular day....

perhaps, you could inquire before you sign on the dotted line.... if the exchange rate for that particular day is to your liking....

nowadays, both the originating bank as well as the receipient bank do suck you whichever way and however much they are allowed to by each country's existing banking rules and regulations and bylaws.... LOL

no, i am not in the banking business.... it is too docile for me.... counting someone else's money all day long.... LOL neither do i like paying such excessive fee....

Is your Bank Bank account a Sterling account? If it is not then the funds will automatically be converted to Baht upon receipt. Also, I can reconcile those numbers you posted, either way, that was an expensive exchange with a commission and a charge on top - the exchange rate itself looks like the current TT rate which is good but the charges you paid eroded any cost advantage of that rate.

The Bangkok Bank account is a standard BKK Bank 'Savings Account'.

Yes, it does seem an expensive way to transfer funds. I need a better way from my UK bank account to Thailand. Any ideas?

Visa card seems to hit me each way I turn

Is your Bank Bank account a Sterling account? If it is not then the funds will automatically be converted to Baht upon receipt. Also, I can reconcile those numbers you posted, either way, that was an expensive exchange with a commission and a charge on top - the exchange rate itself looks like the current TT rate which is good but the charges you paid eroded any cost advantage of that rate.

The Bangkok Bank account is a standard BKK Bank 'Savings Account'.

Yes, it does seem an expensive way to transfer funds. I need a better way from my UK bank account to Thailand. Any ideas?

Visa card seems to hit me each way I turn

If you have a standard Thai Baht account in Thailand, any funds received by that account, regardless of the incoming currency, will be converted into Baht - if you are going to be receiving Sterling, open a Sterling AND a Baht account, all the major banks will open one for you. As for transfers from the UK, do a search on this forum because the subject has been discussed many many times and there's loads of good info out there, HSBC, Halifax, Nationwide, all offer decent deals.

Sometimes - as in now - we can post then see the answer.

As regards the charges and thinking of a way to get Barclays visa charges down, I found this on their website :-

A 2.75% foreign exchange charge is applied when making purchases abroad using your debit card withdrawing cash abroad (in local currency) from an ATM or over the counter at a bank.

There is an additional 2% transaction charge (min £1.50, max £4.50) if you withdraw cash overseas via a cash machine or in a bank

Therefore if I make ATM or over the counter withdrawals at BKK Bank, or any other bank here, I get hit hard. I could not find this before. Sometimes looking in the wrong place.

As Chiang Mai says, a search is now in order. Maybe have to wait until I go back to the UK to sort a different account out though.

So much for being with Barclays for 20+ years !!