Just tried to take out 400 pounds in one go - tried 3 different machines all telling me that 18k 17k 16k = insufficient amount????

Going by currency converter 400 GBP = 18.628K Baht

What the hel_l are the exchange rates with these banks???

Only 15800 was available!!! That's a drop of almost $100.

Someone please clarify if you can.

Thanks.

Edited May 20, 201016 yr by mongoose11

For exchange rates I use: http://www.xe.com Check the current rates there, you can fill out any amount in any currency.

Edited May 20, 201016 yr by wehugheog

For exchange rates I use: www.xe.com Check the current rates there, you can fill out any amount in any currency.

That's where I went also - they quote what i stated above

For exchange rates I use: www.xe.com Check the current rates there, you can fill out any amount in any currency.

That's where I went also - they quote what i stated above

Well, the Euro and the Pound (especially the EUR) have dropped significantly against the USD.

The EUR even by about 25 cents (1EUR = 1.50, now 1.24 USD) so, that is why.

If you fill out the form on that site is shows a small graph, click it and then click 1year or so to get an overview of how fast the currencies dropped.

I am hurting as well with my EUR atm.

Ah, re-read OP. Well yeah, the rates are different within Thailand, as to what extend I don't now.

Sorry for the confusion.

Notice: The THB rate shown below is the international rate. Rates used within Thailand may vary.

Live rates at 2010.05.20 09:39:10 UTC

400.00 GBP = 18,623.33 THB

United Kingdom Pounds Thailand Baht

1 GBP = 46.5583 THB 1 THB = 0.0214784 GBP

Edited May 20, 201016 yr by wehugheog

For exchange rates I use: www.xe.com Check the current rates there, you can fill out any amount in any currency.

That's where I went also - they quote what i stated above

So you say that for 400 GBP you are only getting 15,800 THB?

15,800 / 400 = 39.5000,

So you are only getting 39.5000 THB for one GBP, you should be getting 46.5 ?

How do you obtain your figures, they are about 15% too low

SCB online rates for the 19th are available here, SCB Rates they are close to 46.5 not 39.5

For exchange rates I use: www.xe.com Check the current rates there, you can fill out any amount in any currency.

That's where I went also - they quote what i stated above

So you say that for 400 GBP you are only getting 15,800 THB?

15,800 / 400 = 39.5000,

So you are only getting 39.5000 THB for one GBP, you should be getting 46.5 ?

How do you obtain your figures, they are about 15% too low

SCB online rates for the 19th are available here, SCB Rates they are close to 46.5 not 39.5

Yes - checked their exchange rate info shortly after - which leaves me completely bewildered.

I know that .xe.com always quote an exchange rate which is higher than what the ATM gives me but this is just crazy - I obtained my figure from what the ATM machine delivered.

I'll take it up with them on Monday when hopefully the banks will re-open.

Cheers for your post though.

Can I ask (if you're from the U.K) - what Bank ATM machine you use to withdraw UK money?

I know Ayuthaya bank don't charge 150 baht which is some benefit - but the nearest one for me is the MRT which is closed.

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

Either that or the ATM was empty

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

Either that or the ATM was empty

Yes

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

Either that or the ATM was empty

Yes

But he went to 3 different machines

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

My internet connection is shocking - tried to reply to you earlier but just got "speedtouch" error.

No - I definitely had 400 GBP there - from current account - saw online through int banking prior. Only have 1 acc with them ALL and Leic.

Can I ask (if you're from the U.K) - what Bank ATM machine you use to withdraw UK money?

I know Ayuthaya bank don't charge 150 baht which is some benefit - but the nearest one for me is the MRT which is closed.

I have a UK account with Citibank because:

1 - They give a better exchange rate than many other UK banks.

2 - They have no UK fee for overseas ATM withdrawal, other banks might have a £2 charge.

3 - If I am in the area of a Citibank branch I will always use that as the rate cut taken is even lower, and there is no local bank charge for my Citicard cash withdrawal.

- - (There is only one Citibank branch in Thailand, but two out of three ain't bad.)

Many people complain about the 150THB charge in Thailand and do not consider the cost at the UK end, or the percentage cut taken on the exchange rate.

If there is no Citibank nearby I have no preference as I have not studied the Thai bank ATM charges.

Dont most UK banks impose a daily withdrawal limit of THREE hundred Pounds?

Or is this a "special" account that you have used before to pull more out in one go?

Penkoprod

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

My internet connection is shocking - tried to reply to you earlier but just got "speedtouch" error.

No - I definitely had 400 GBP there - from current account - saw online through int banking prior. Only have 1 acc with them ALL and Leic.

But I just have to add also that I do "always" get a lower exch rate than what xe.com state - but this was particularly low.

People withdrawing from UK accounts on this forum must also be getting a lower exchange rate - would be interested to know what the deal is here.

Dont most UK banks impose a daily withdrawal limit of THREE hundred Pounds?

Or is this a "special" account that you have used before to pull more out in one go?

Penkoprod

Citibank UK allow £500 per day, though some local bank ATM's may have lower limits, this causes me big problems in the Philippines.

+++

What I am still confused about is how the OP knows that he can take 15,800 THB from the ATM, and how he knows that this will take 400 GBP from his UK account.

Or does he THINK that there is 400 GBP in the account, in which case there may be uncleared transactions pending.

But I just have to add also that I do "always" get a lower exch rate than what xe.com state - but this was particularly low.

People withdrawing from UK accounts on this forum must also be getting a lower exchange rate - would be interested to know what the deal is here.

I believe that a normal cut on the XE.com FX rate would be about 2 or 3 percent.

Most certainly not 15 percent!

There is something missing in this story.

Has anybody else made ATM withdrawals in Thailand from a GBP account today, if so did you check the rate, or were you too busy dodging bullets?

One further question to the OP.

Mongoose, are you certain that you are not getting GBP mixed up with EUR.

One Euro is worth about 39.94 THB.

Should have thought of that one earlier!

It could be that the banks, being shut, are using the exchange rate at close of play the other day. Its just a thought.

And yes, currency converter shows the international mid rate which is normally at least half a baht higher than the banks rate

Edited May 20, 201016 yr by Maverell

Note that all exchange rates are quite volatile at the moment. Also with the uncertainty concerning Thailand and domestic banks being closed this week liquidity in THB at the moment is very thin and some banks have taken the opportunity to widen spreads, so rates could be quite different from xe others. If at all possible wait until banks are open again next week.

Edited May 20, 201016 yr by Time Traveller

I am interested if you can really make a request for 400 pounds from a Thai ATM machine. I have never seen anyone be able torequest to withdraw an amount in British pounds (American or Canadian dollars for that matter) from a Thai bank ATM. You must input an amount in Thai baht.

From the way you explain it --you say insufficient funds, which mean just that. you do not have enough money in your account to pull out 400 pounds. Make sure you are using your correct account --saving-current, ect. All you have is 15800 in the account you are accessing.

My internet connection is shocking - tried to reply to you earlier but just got "speedtouch" error.

No - I definitely had 400 GBP there - from current account - saw online through int banking prior. Only have 1 acc with them ALL and Leic.

But I just have to add also that I do "always" get a lower exch rate than what xe.com state - but this was particularly low.

People withdrawing from UK accounts on this forum must also be getting a lower exchange rate - would be interested to know what the deal is here.

No reply from Mongoose for a few hours...

However this post interests me. I cannot believe that the GBP/THB rate is so low for an ATM withdrawal, the rates are surely regulated by Visa.

Perhaps the facts are wrong, as I pointed out in an earlier reply - the rate he claims to get for GBP/THB is actually the current EUR/THB rate.

Mongoose, I noticed your post 2 days ago about a missing credit card posted over from the UK. Is that related in any way to your current problems. Perhaps your new card is in EUR rather than GBP.

Is this the A&L account that you had problems with six months ago, or have you recently opened a new account with a different bank. Again your new bank might have opened your new account in EUR rather than GBP.

Make sure you are not looking at trade rates for exchange as this will be different to resale rates you actually get so try looking at http://www.travelex.co.uk/. they are showing that you get 43.5 Thb today.

You may also find that Atm's will only despence your maximun daily alowance which is normally 300 quid per day and the last time i was there i could never get more than 15500 thb in one day because of that. So go get ya max and then try again for the rest after midnight.

I was under the impression that ATM rates were updated several times during the day regardless of banking hours.

I use http://bankexchagerates.daytodaydata.net and it gives you a comparison of most Thai banks and shows how many times that day they have updated their rates.

You can then see which will give you the best rate and extract money from their ATM

<deleted>! I don't know why I even looked at this post. OP, why are you even posting this and why is everybody discussing it? Get off your duff and walk into your Siam Bank branch to find out <deleted> is going on. Your answer is there; not here.

<deleted>! I don't know why I even looked at this post. OP, why are you even posting this and why is everybody discussing it? Get off your duff and walk into your Siam Bank branch to find out <deleted> is going on. Your answer is there; not here.

Ha ha. I posted it cos I was baffled by what the machine delivered.

If you've read all the thread you'll see that I stated I will go into one of their branches once the banks "open" again.

What I am still confused about is how the OP knows that he can take 15,800 THB from the ATM, and how he knows that this will take 400 GBP from his UK account.

Or does he THINK that there is 400 GBP in the account, in which case there may be uncleared transactions pending.

Hi, as I say again, there was definitely 400GBP in my acc, Siam ATM machine gave me 15'800 Baht. I checked my online banking after and it was roughly on zero so it's pretty black and white.

Mongoose, I noticed your post 2 days ago about a missing credit card posted over from the UK. Is that related in any way to your current problems. Perhaps your new card is in EUR rather than GBP.

Hi, thanks, no it's a separate account, that card has still yet to arrive, I'm guessing postman aren't working this week.

But I previously transferred 400GBP over from that acc so they're sort of related.

Anyway - I feel like I'm dragging this out and I appreciate everyones input here, but as "TongueThaied" eloquently put it! - Go into the bank to find out - which I shall do Monday

Mongoose, Ayuttaya bank charge 150 Baht for withdrawals now from ATM's in Bangkok.

Just sounds to me like your getting the current rate offeren in the UK from your bank rather than the rate offered by the banks here. If you're drawing from a UK account that would seem quite logical. Might be an idea to go onto A&L website and see what their current exchange rates are. They will amost always be a good few points lower than rates offered here, even though the banks are closed here the rates still change constantly.

Just sounds to me like your getting the current rate offeren in the UK from your bank rather than the rate offered by the banks here. If you're drawing from a UK account that would seem quite logical. Might be an idea to go onto A&L website and see what their current exchange rates are. They will amost always be a good few points lower than rates offered here, even though the banks are closed here the rates still change constantly.

I wish they would just tell you what rate you were getting when you pull the money out.

There is a site which I find useful for the exchange rates in general but it is not an actual bank rate at the time you draw on the ATM.

http://bankexchangerates.daytodaydata.net/default.aspx

This was the rate I got yesterday from the Kbank in the village via their ATM and my LloydsTSB offshore account.

TH 10150.00

XR 45.051

CD 5528 20MAY10

This was the rate shown by the Kbank.

Kasikorn Bank Thailand 2010-05-19 01:21 1 GBP THB 45.7975