Nationwide Atm Exchange Rate

samran · July 13, 2005

Can anyone out there share what exchange rate they get when they pull out cash with a Nationwide ATM card in Thailand?

I am assuming it would be the standard 2.5% off the interbank exchange rate. Would like to proven wrong on this one!

andyovine · July 13, 2005

Was in BKK in June , recieved between 73.656 and 74.165 according to my statement ,

Flexaccount Visa debit card and no charges, hope this helps!.

Edited July 13, 2005 by andyovine

charles · July 14, 2005

Can anyone out there share what exchange rate they get when they pull out cash with a Nationwide ATM card in Thailand?
I am assuming it would be the standard 2.5% off the interbank exchange rate. Would like to proven wrong on this one!

<{POST_SNAPBACK}>

I think it is the interbank exchange rate with nothing skimmed off.

I've been using this card for years, here's one recent example:

4 July Nationwide rate (withdrawal from Bangkok ATM) 73.152

Bangkok bank exchange rates on that day: Cash 71.75 TC 72.48 TT 72.66000

This is in line with what I generally find - a slightly better rate than the prevailing Travellers cheque/telegraphic transfer rates at Thai banks (which are very good rates). Not an exact science as the day you withdraw and the day you are charged are usually different, and not sure what day's rate they use. But you can certainly see that they are giving a great rate - and one that is probably the interbank rate at that particular time.

chaiyapoon · July 14, 2005

I, too have been using this service for several years and have been well pleased at the rate given. Usually matching or bettering the best foreign exchange rate for the day and NO OTHER CHARGES at all.What more can you want?

Rinrada · July 14, 2005

I have compared it with others...RBS-HSBC-Hali-Smile..etc. and have found that the difference on say a £300 withdrawel can be anything between £10 and £15 quid.

I even contacted these banks and asked why they cant do the same as Nationwide but always get the same body swerve answer.banking codes ,company policy,Krup....in reality they want to make as much money out of YOU-Ho... as possible......

From the N/W web site...

Free services

We don't believe in charging you for everyday banking services like stopping a cheque, getting a duplicate statement or using our ATMs. There are only a small number of specialist services that you have to pay for, where we make sure the fee is among the lowest in the market.

We are the only high street provider that offers free card use abroad.

Competitors charge on average 3% commission fees; if you spent £400 overseas you would pay £12 extra in charges.

Over 843,000 cash machines worldwide

You can withdraw money from Nationwide, LINK or CIRRUS cash machines with no fees from Nationwide.

Thetyim · July 14, 2005

I, too have been using this service for several years and have been well pleased at the rate given. Usually matching or bettering the best foreign exchange rate for the day and NO OTHER CHARGES at all.What more can you want?

I agree with you 100 per cent.

Now then, how do we get George to read this.

Rinrada · July 14, 2005

Nationwide Thai Visa Gold Card ....sounds good

samran · July 14, 2005

Thanks guys, appriciate it. Will be worth my while changing the people who I bank with then!

Khun Bob · July 16, 2005

Nationwide use the visa exchange rate - this is slightly below interbank - this is definitely so for their visa debit cards - i beleive it is the same for their cash cards.

But be careful as there may be some ATM's in Thailand that make a charge for withdrawl - this is out of nationwide's hands and they do not refund this, unlike, I think, Bank of America (not 100%) on this one/

I typically use Bkk bank and Thai Farmers (kasikorn) and havent noticed any local bank induced charges. I also used another bank some time ago and it was ok - i think this was SCB or Thai Millitary.

It would be good to list the ATM's people have used and not noticed any extra charges....

One ATM in a sky train station i used crashed after dispensing the money - i think it was because it found english a problem - i may not have got a debit for that

Oh be carful as Nationwide dont allways state the exchange rates on the statements. Also their cash cards are only mag strip but they are starting to issue CHIPs on there cash cards now. Visa debits have had chips on for a while. This is a problem in malaysia as alot of the atms there need cards with chips...

And as an aside - there is a scam happenning in spain where they charge you in sterling but have a very bad exchange rate. Allways pay in local currency, then it is up to visa (or more trus worthy party) to set the exchange rate. I've not heard of this happeing in Thailand yet...

Thanks guys, appriciate it. Will be worth my while changing the people who I bank with then!

<{POST_SNAPBACK}>

RDN · July 16, 2005

Hey Samran, this is the second topic you've started about Nationwide ATM! What's the problem? Did you used to work for Nat West?

Have a look at my post here:

http://www.thaivisa.com/forum/index.php?sh...ndpost&p=101092

This is the key data:

10,000 baht: NatWest £162.83, Nationwide £154.23
5,000 baht: NatWest £81.69, Nationwide £77.30

The above figures were true at the end of 2001. I used both cards in the same ATM on the same day and checked the charges when I got back to England.

I believe Nationwide give you about 0.05 baht/pound less than XE.com says the rate is for the day - something very small and not worth worrying about.

Here's my original spreadsheet:

samran · July 17, 2005

Hey Samran, this is the second topic you've started about Nationwide ATM! What's the problem? Did you used to work for Nat West?

<{POST_SNAPBACK}>

No RDN I didn't work for Natwest, but I do bank with one of the bigger high street banks in the UK and am not getting the best deal.

No, my motivation for changing will depend on how good a deal Nationwide can do for me...hence the questions, this time to get specific numbers.

You have to understand, as an Australian living in the UK, I am not treated by banks in the same way they treat other UK/EU citizens. Bacause I have only been here a short time, it is an absolute pain in the @rse for me (as a very legal foreigner with a work permit) to get a bank account as the banks in the UK are petrefied of money launderers.

Hence, with less than a years worth of time living in the UK, and no indefinete leave to remain, I've been consistently knocked back by the likes of Barclays, HSBC and Nationwide to open a simple bank account. I am only with my present bank as they were willing to open an account for me.

Given the rates are so good, I am going to visit many different branches and persist until I can find a branch that is willing to open a Nationwide account. But I needed to see the rates to make sure it was worth my while, otherwise, I wouldn't have bothered.

Edited July 17, 2005 by samran

RDN · July 17, 2005

Hey Samran, this is the second topic you've started about Nationwide ATM! What's the problem? Did you used to work for Nat West?

<{POST_SNAPBACK}>

No RDN I didn't work for Natwest, but I do bank with one of the bigger high street banks in the UK and am not getting the best deal.

No, my motivation for changing will depend on how good a deal Nationwide can do for me...hence the questions, this time to get specific numbers.

You have to understand, as an Australian living in the UK, I am not treated by banks in the same way they treat other UK/EU citizens. Bacause I have only been here a short time, it is an absolute pain in the @rse for me (as a very legal foreigner with a work permit) to get a bank account as the banks in the UK are petrefied of money launderers.

Hence, with less than a years worth of time living in the UK, and no indefinete leave to remain, I've been consistently knocked back by the likes of Barclays, HSBC and Nationwide to open a simple bank account. I am only with my present bank as they were willing to open an account for me.

Given the rates are so good, I am going to visit many different branches and persist until I can find a branch that is willing to open a Nationwide account. But I needed to see the rates to make sure it was worth my while, otherwise, I wouldn't have bothered.

<{POST_SNAPBACK}>

Sorry, Samran, didn't mean to get you " " - I didn't realise you were an Aussie working in the UK.

So the UK banks treat farangs the same way as Thai banks! I suppose we shouldn't complain too much here (Thailand) when we get - as proudly posted on most banks walls - zero interest on all accounts.

The difference is quite enormous between Nationwide and most other banks - about 5% is taken overall by most banks/ATMs.

BUT, if you are coming to stay in LoS, you need to decide whether to open an account here and pay no fees (but 0% interest) or take it out of Nationwide (no fees, x% interest). For retirees there's no option, you have to have 800,000 in a local bank at "extension time" anyway.

If you're just coming for holidays, then it's totally worth the effort. Good luck!

samran · July 17, 2005

Sorry, Samran, didn't mean to get you " " - I didn't realise you were an Aussie working in the UK.
So the UK banks treat farangs the same way as Thai banks! I suppose we shouldn't complain too much here (Thailand) when we get - as proudly posted on most banks walls - zero interest on all accounts.

The difference is quite enormous between Nationwide and most other banks - about 5% is taken overall by most banks/ATMs.

BUT, if you are coming to stay in LoS, you need to decide whether to open an account here and pay no fees (but 0% interest) or take it out of Nationwide (no fees, x% interest). For retirees there's no option, you have to have 800,000 in a local bank at "extension time" anyway.

If you're just coming for holidays, then it's totally worth the effort. Good luck!

<{POST_SNAPBACK}>

I wasn't angry at you RDN, the was for the service of the bank I am with! Will be visiting BKK a couple of times over the next couple of months, so was wondering if I should change my banker.

As for retirement....well I am lucky, I have a Thai PP as well as an Aussie one...so no stress there for me!

RDN · July 17, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

fishhooks · July 18, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

<{POST_SNAPBACK}>

You have to understand, as an Australian living in the UK (Quote Samran)

Gee, you look like a former Australian Prime Minister?

Totster · July 20, 2005

Samran...

If it's still of interest to you..

I have Just got a rate of bt72.73 withdrawing money in Thailand using my Flex Account..

at the same time BKK Bank are showing ..

GBP (b)71.73 (s)73.49

And XE.com

73.0575 THB

totster

loong · July 20, 2005

When I have drawn money on atm cards, I have found Nationwide give about 2 Baht more to the pound than Lloyds and Lloyds charge 2% commision on top. Close to 5% altogether, thats a big difference. Nwide rate also beat travel cheque rate on same day at Bangkok Bank.

I think it is also strange that if I draw money from my Bangkok Bank account by ATM at another branch, I am charged 20 Baht. But use my Nwide card in same machine am charged nothing. TIT

RDN · July 20, 2005

When I have drawn money on atm cards, I have found Nationwide give about 2 Baht more to the pound than Lloyds and Lloyds charge 2% commision on top. Close to 5% altogether...
<{POST_SNAPBACK}>

Back in 2001, I worked it out as between 5.4 and 5.5%.

http://www.thaivisa.com/forum/index.php?sh...ndpost&p=411272

samran · July 20, 2005

Samran...
If it's still of interest to you..

I have Just got a rate of bt72.73 withdrawing money in Thailand using my Flex Account..

at the same time BKK Bank are showing ..

GBP (b)71.73 (s)73.49

And XE.com

73.0575 THB

totster

<{POST_SNAPBACK}>

still of interest, but not of much use at the moment I'm afraid. Walked into a branch yesterday and asked to open a cash or cheque account....no luck. Couldn't prove my residency in a sufficent manner for them as a foreigner. My family hadn't been in the UK for 20 generations or something like that....

Will keep plugging away!

Edited August 5, 2005 by samran

samran · July 20, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

<{POST_SNAPBACK}>

You have to understand, as an Australian living in the UK (Quote Samran)

Gee, you look like a former Australian Prime Minister?

<{POST_SNAPBACK}>

Little known fact that the great man was part Thai.....

Rinrada · July 20, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

<{POST_SNAPBACK}>

You have to understand, as an Australian living in the UK (Quote Samran)

Gee, you look like a former Australian Prime Minister?

<{POST_SNAPBACK}>

Little known fact that the great man was part Thai.....

<{POST_SNAPBACK}>

You recon he looks like Bob Hawk..?...and half Thai...well well....

samran · July 20, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

<{POST_SNAPBACK}>

You have to understand, as an Australian living in the UK (Quote Samran)

Gee, you look like a former Australian Prime Minister?

<{POST_SNAPBACK}>

Little known fact that the great man was part Thai.....

<{POST_SNAPBACK}>

You recon he looks like Bob Hawk..?...and half Thai...well well....

<{POST_SNAPBACK}>

I think you are getting your Australian PM's mixed up. My avtar is the former Labor PM Paul Keating.

This is Bob Hawke, the guy Keating dispatched to make himself PM.

Hawke was both a Rhodes Scholar and the world record holder for sculling beer from a yard glass. Not a bad bloke to have for PM.

8ball · July 21, 2005

I have a UK acc. with the Abbey and have always been able to make withdrawl overseas without charges in the past.

Can anybody confirm if this is still the case, i havent used my Abbey card in a while. As far as i remember the rates were pretty good.

I have gotta call the Abbey later this week so i will ask them myself if this is the case and report back, but was intersted in anybody elses experiences with the Abbey (National).

Cheers 8ball.

Samran , i know the Abbey were difficult to get an account with but i eventually managed it. I am a Uk citizen but had been living overseas for a while when i tried to open an account.

Rinrada · July 21, 2005

...I have a Thai PP as well as an Aussie one...so no stress there for me!
<{POST_SNAPBACK}>

Lucky bugger!

<{POST_SNAPBACK}>

You have to understand, as an Australian living in the UK (Quote Samran)

Gee, you look like a former Australian Prime Minister?

<{POST_SNAPBACK}>

Little known fact that the great man was part Thai.....

<{POST_SNAPBACK}>

You recon he looks like Bob Hawk..?...and half Thai...well well....

<{POST_SNAPBACK}>

I think you are getting your Australian PM's mixed up. My avtar is the former Labor PM Paul Keating.

This is Bob Hawke, the guy Keating dispatched to make himself PM.

Hawke was both a Rhodes Scholar and the world record holder for sculling beer from a yard glass. Not a bad bloke to have for PM.

<{POST_SNAPBACK}>

About 15 years ago I took me old Aunti down south to Sid to see relatives who have been in Auz for about 500 years and actually got to meet "uncle"Bob.

Although staying in Sutherland (Sydney)we spent about 10 days driving around and spent a night just outside Canberra (place called Queenbean...or sum fink...whit a dump)

Anyway we did the usual walkabout around the big War memorial...Very Impressive as well as the old and new Parliament buildings (again very nice)when we,amongst many other were introduced to a number of Auz.politicians who just happened to be visiting or something and one of course was Big Bob.

Fair dinkum made our day.

Went up the tower later ....great view.

roamer · August 4, 2005

Don't understand what your doing wrong. Nationwide require proof of ID...any nationality passport is ok, they do NOT check your legal residency status, they DO want proof of address in the form of a utility bill or similar. If all you are applieing for is a csh card they don't run a credit check. My wife (Thai) did exactly that about a year or so ago, we had to get the water bill put in her name. I accept that without a utility bill they are awkward but its hardly the most difficult item in the world to obtain. You would, in the long term , even save money if you had to shell out to get a bill in your name.

Totster · August 4, 2005

I have a UK acc. with the Abbey and have always been able to make withdrawl overseas without charges in the past.
Can anybody confirm if this is still the case, i havent used my Abbey card in a while. As far as i remember the rates were pretty good.

<{POST_SNAPBACK}>

I have also drawn money overseas and it is not free. They make a service charge per withdrawal and also charge a percentage on the ammount withdrawn. They also give lousy exchange rates..

The following is quoted from here... Abbey - Using ATM's Abroad

Charges

You may have to pay a fee for buying currency. Check before buying to see how much you’ll have to pay. If you use your Abbey Visa debit card or Visa Electron card to withdraw cash abroad, a cash handling fee of 1.5% of the value will be applied. This is in addition to the card transaction fee. If you withdraw cash using your Abbey cash card at Cirrus badged machines, a cash handling charge of £1 + 1.5% of the value will be applied. The bank whose cash machine you’re using might also charge you a fee. If you use your Abbey Visa or MasterCard credit card outside of the UK, a fee of 2.75% of the transaction value will be charged. If you withdraw money from a cash machine outside the UK there is an additional handling fee of 2% (minimum £2).

totster

Buff-horns · August 4, 2005

i am in trouble right now with Nationwide over a few pounds overdrawn on my ATM card. You cant get a online balance in LOS so went over a few pounds as their systems wont stop you going overdrawn EVEN if you have specified that your account should be unable to overdraw.

Now they have hit me with a 15-00 penalty , and another 15-00 on top of that

so i am now 30 in arrears due to their fault.

i have spoken to the manageress of my branch and waiting to hear back.

SO DONT overdraw on your account .its hard to know precisely what you have on balance with no online balance in LOS.

Rinrada · August 4, 2005

One big advantage that nationwide flexcards have over all others is precisely that .....you can check your balance in LOS.

I usually find that the Kassie Bank (ex Thai farmers) is best but I have been given said balance on almost all the other ATMs as well.......and er ...never overdraw....cost you dosh...mai ao...ouch

Vulture · August 5, 2005

Samran,

if you get on to the Nationwide website they tell you exactly the sorts of documents that they can accept to open an account. It even mentions non EEC nationals passports for ID purposes and overseas utility bills of not more than three months old. So as roamer has suggested above it should be relatively simple

loong · August 5, 2005

i am in trouble right now with Nationwide over a few pounds overdrawn on my ATM card. You cant get a online balance in LOS so went over a few pounds as their systems wont stop you going overdrawn EVEN if you have specified that your account should be unable to overdraw.
Now they have hit me with a 15-00 penalty , and another 15-00 on top of that

so i am now 30 in arrears due to their fault.

i have spoken to the manageress of my branch and waiting to hear back.

SO DONT overdraw on your account .its hard to know precisely what you have on balance with no online balance in LOS.

<{POST_SNAPBACK}>

This info is wrong.

I don't know why Buff-horns has difficulty, but I can access all my Nationwide accounts online while in Thailand.

A few months ago, I had to draw more than my daily limit, so had to draw cash on my nationwide credit card as well. I was able to transfer money online to clear the credit card balance.

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