New Rip-Off At Sizzler And Maybe Pizza Company

[Pib]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign tranaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

[pipo1000]

I don't know about sizzler,since I don't attend known rip-offs,but I assume the prices on the menu are in a single currency e.g. Thai baht.

What gives them the right to change the prices to another currency after you consumed the order?

By paying with a foreign credit card.

More nonsense. Is this going to be a recurring theme?

What an arrogant man you are.

Use of the foreign card results in you paying in the currency of your home country. YOU choose whether to take the rate offered i.e. by DCC or leave it to the card processing company.

Is that too difficult to comprehend Mr Flamer.

When I use my foreign credit card anywhere in the world I'm charged in the local currency of that particular country.

On my monthly statement the credit card company will convert bills I paid worldwide into MY local currency mostly at a very favorable rate.

I agree that IF THEY ADVERTISE their prices in different currency's they can OFFER ME THE OPTION to be charged in any of these in advance advertised currency's.But it is still my privilege to accept or reject this option.

It is illegal to charge any price that was not advertised and agreed by me in advance.

[pipo1000]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign tranaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

I have a Mastercard from Argenta bank in Belgium and get the exchange rate which is equal and sometimes even better than the telex transfer rate advertised at the bank and get charged 0% transaction fee by my bank.IN fact it is cheaper for me to withdraw with my credit card than making a swift transfer.

[Pib]

I have a Mastercard from Argenta bank in Belgium and get the exchange rate which is equal and sometimes even better than the telex transfer rate advertised at the bank and get charged 0% transaction fee by my bank.IN fact it is cheaper for me to withdraw with my credit card than making a swift transfer.

That's good...I'm jealous (really)...your card/bank is in the few category for not charging a foreign transaction fee. Maybe we'll get more examples from other folks...should get at least a few....then other folks can possibly signup for such cards.

Here's a link that talks about credit card foreign transaction fees going up. It doesn't talk Belgium banks but US, UK, Canada, and Australian banks/cards. http://www.creditcards.com/credit-card-news/foreign-exchange-fees-going-up-1267.php

[Tolley]

I have a Mastercard from Argenta bank in Belgium and get the exchange rate which is equal and sometimes even better than the telex transfer rate advertised at the bank and get charged 0% transaction fee by my bank.IN fact it is cheaper for me to withdraw with my credit card than making a swift transfer.

That's good...I'm jealous (really)...your card/bank is in the few category for not charging a foreign transaction fee. Maybe we'll get more examples from other folks...should get at least a few....then other folks can possibly signup for such cards.

Here's a link that talks about credit card foreign transaction fees going up. It doesn't talk Belgium banks but US, UK, Canada, and Australian banks/cards. http://www.creditcards.com/credit-card-news/foreign-exchange-fees-going-up-1267.php

You also get right royally screwed if you withdraw money via an ATM using a debit card.

I have an Australian debit card mastercard and i withdrew 20.000 baht a few weeks back and it cost me well over 30 dollars with ATM fees and poor exchange rates to withdraw the money. It is a blantant rip off.

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

[TAWP]

Why pay with CC for small purchases? It is asking to be ripped off or have your card cloned...

[willyumcr]

I have a Mastercard from Argenta bank in Belgium and get the exchange rate which is equal and sometimes even better than the telex transfer rate advertised at the bank and get charged 0% transaction fee by my bank.IN fact it is cheaper for me to withdraw with my credit card than making a swift transfer.

That's good...I'm jealous (really)...your card/bank is in the few category for not charging a foreign transaction fee. Maybe we'll get more examples from other folks...should get at least a few....then other folks can possibly signup for such cards.

Here's a link that talks about credit card foreign transaction fees going up. It doesn't talk Belgium banks but US, UK, Canada, and Australian banks/cards. http://www.creditcar...ing-up-1267.php

You also get right royally screwed if you withdraw money via an ATM using a debit card.

I have an Australian debit card mastercard and i withdrew 20.000 baht a few weeks back and it cost me well over 30 dollars with ATM fees and poor exchange rates to withdraw the money. It is a blantant rip off.

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

only

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

[Pib]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa.com/forum/topic/380260-americans-doing-ach-transfers-to-bangkok-bank-new-york/page__view__findpost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

[Jiu-Jitsu]

I have a Mastercard from Argenta bank in Belgium and get the exchange rate which is equal and sometimes even better than the telex transfer rate advertised at the bank and get charged 0% transaction fee by my bank.IN fact it is cheaper for me to withdraw with my credit card than making a swift transfer.

That's good...I'm jealous (really)...your card/bank is in the few category for not charging a foreign transaction fee. Maybe we'll get more examples from other folks...should get at least a few....then other folks can possibly signup for such cards.

Here's a link that talks about credit card foreign transaction fees going up. It doesn't talk Belgium banks but US, UK, Canada, and Australian banks/cards. http://www.creditcards.com/credit-card-news/foreign-exchange-fees-going-up-1267.php

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

This an example of a bank using DCC via ATM. Whether you accept depends on the rate offered by your bank in Australia.

[Jiu-Jitsu]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign tranaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

Did you bother to peruse the thread before posting?

I posted links to the actual Visa/Mastercard rates in #22.

As to non-charging banks. I have the the use of two in the UK as well as various credit cards. I've already posted about them on other threads within this forum.

Anyway, who runs around the world with thousands of pounds in cash these days?

You read about these characters being mugged on beach road with all of their cash on them.

Much simpler to use plastic. In my case it's cheaper too. When it comes to Thailand, I have some cash with me, to tide me over until I'm near an AEON.

Edited December 30, 2010 by Jiu-Jitsu

[Tolley]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign tranaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

Did you bother to peruse the thread before posting?

I posted links to the actual Visa/Mastercard rates in #22.

As to non-charging banks. I have the the use of two in the UK as well as various credit cards. I've already posted about them on other threads within this forum.

Anyway, who runs around the world with thousands of pounds in cash these days?

You read about these characters being mugged on beach road with all of their cash on them.

Much simpler to use plastic. In my case it's cheaper too. When it comes to Thailand, I have some cash with me, to tide me over until I'm near an AEON.

It is more convenient to use plastic but cash or travellers cheques are in my case anyway more cost effective.

[Pib]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign transaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

Did you bother to peruse the thread before posting?

I posted links to the actual Visa/Mastercard rates in #22.

As to non-charging banks. I have the the use of two in the UK as well as various credit cards. I've already posted about them on other threads within this forum.

Anyway, who runs around the world with thousands of pounds in cash these days?

You read about these characters being mugged on beach road with all of their cash on them.

Much simpler to use plastic. In my case it's cheaper too. When it comes to Thailand, I have some cash with me, to tide me over until I'm near an AEON.

I read your posts in this thread/topic; haven't read your posts in other threads/topics. I'm glad you have access to credit cards which don't charge a foreign transaction fee of 1 to 3% or more. But those kind of cards are unfortunately in the minority nowdays and growing fewer everyday as banks decide to increase the bottom line by charging the fee....since the majority of banks/cards already charge the fee. "Generally" the use of home country credit cards in a foreign country ends up with the foreign transaction fee hitting you for another 1 to 3%...unless, as you mentioned, you have a card that don't charge the fee.

Just keep in mind everyone does not have or have the capability to get those UK credit cards which you refer to that don't charge any fee. And from the number of UK residents in ThaiVisa complaining about high credit card fees they don't have these cards either. Maybe you could name those no-fee cards again in this tread? Thanks.

Edited December 30, 2010 by Pib

[Spaniel]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa.com/forum/topic/380260-americans-doing-ach-transfers-to-bangkok-bank-new-york/page__view__findpost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

I dont think it makes any difference what Thai bank he (Willyumcr) uses. He is reimbursed by Charles Schwab Bank, his bank in the USA. My account is with Fidelity Investments and they too will reimburse overseas ATM fees.

[kennalder]

OP

What do you think the 'rip-off' cost you in hard baht?, at the 1 baht per dollar difference.

about 10 baht. however, i have to work for my money.

You got my vote....Better this 10 baht in your pocket versus Sizzler's. Plus, I'm glad you brought up the DCC subject, if for nothing else, to remind myself to watch out for this "another hand in your pocket" transaction method when using a home country credit card in another country.

I agree, it's not the 10 Baht, it is the principle .

I agree too, but if 10 baht is the issue, go to a Thai place and pay with cash. If we all continue to patronize places like this, they will continue to milk us.

[Basil B]

It is not just restaurants but hotels as well.

Stopped at the Aiyaree in Jomtien a few weeks ago, booked in for two nights,total cost should have been about 2,800B when I checked the card payment it had been converted to GBP I calculated that to be about 100B/£2 loss, not a lot particularly as if it had been in THB my bank would have charged me £0.75p so reckon that was better than 3% + my own bank charges.

Downside is the way it is done under hand, check you bill before signing, if you have the cash refuse to sign and make them cancel the transaction (make a bit of a sceen so other customers are awere of what is going on) and pay them cash.

Edited December 30, 2010 by Basil B

[jfchandler]

Guys, as someone with some substantial experience on this subject, JJ is generally correct in what he says above...

I almost always use some variety of U.S. debit or credit card to pay for things here...even though I have Thai cards...

95% of the time, my U.S. card notwithstanding, the transaction is put thru in straight baht and the exchange rate is the normal one set by the VISA or MC card network for that day. (I only use cards that have either no foreign currency fee or rarely ones with the card networks 1% fee, but that's the most).

Rarely, though I've had it happen twice now in the past month, the merchant will ring up the charge using the DCC method. And the receipt you get to sign is pretty misleading, because it includes both a dollar and a baht amount... So if you look quickly, you might just see the baht amount and think to just sign... But if you read the tiny print down below, those kind of charge slips say you've OPTED to be billed in your home country's currency and the slip lists the particular Thai bank's exchange rate being used (which invariably is LOW).

The simple answer is to politely NOT sign that kind of slip, and direct the staff person to go back and void it, and then ring up the charge again in straight Thai baht.... I've done that with perfect success twice in the past month, once at a restaurant at the Pullman King Power Hotel in BKK (much to my surprise) and then at an out of the way hotel in Khao Yai....

Both times, the staff person dealing with me seemingly didn't know how to do what I wanted... In the restaurant case, the waiter had to go and get a supervisor, and it took them about 10 minutes before they returned with the correctly processed check slip in baht.. In the case of the hotel, the counter girl first said she couldn't do it any other way, and then finally pulled out a laminated instruction sheet for her credit card machine, read it for a minute or two, and then proceeded to ring up our stay in baht...

The simple and absolute answer is you DO have the right to pay in BAHT, ALWAYS.... It may take some strong dealing with the staff person at hand, and if need be, escalate it to the manager. But it's your right.... And always insist on it...

For whatever it's worth, I do eat at Sizzler in BKK from time to time using my cards, and they've never yet tried to charge me to DCC U.S. $.

PS - The easy thing to do is keep this in mind: any time you see a U.S. $ amount on your charge slip, period, you know you're getting screwed.... Don't sign or accept those, and demand they re-run it in BAHT.

Edited December 30, 2010 by jfchandler

[Jiu-Jitsu]

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

Come on, this is just silly.

Using my foreign card is almost always cheaper than using cash.

You must be kidding. Do you have any sense of the exchange rate you are getting on your home country card use? At best it's going to be close to the TT rate like you get when wiring over or quite possibly the lower Note rate used for actual currency. Do you have any sense of knowing what foreign transaction fee is probably charged by Visa/Mastercard/your bank on use of the card? 1 to 3% for many banks; only a few...and fewer everyday...don't have a foreign transaction fee. And if your card has a Visa/Mastercard logo on it they are charging a 1% foreign transaction fee, but a few banks do eat that charge and don't pass it on to you....kinda like how some banks reimburse some many ATM fees per month.

What credit card issued by what bank do you use? You may be one of the few who has a card XYZ from bank XYZ that doesn't charge a foreign transaction fee and gives the TT rate (or a tad more) in the transaction/buy. Nowdays, few and far in between are such banks and cards. Just take a look at the many, many, many other posts (complaints) on ThaiVisa regarding the fees & exchange rate people got in using the home country credit/debit/ATM cards in Thailand (or any most any other country). Or just take a look a the detailed rate/fee structure of credit cards in general.

Did you bother to peruse the thread before posting?

I posted links to the actual Visa/Mastercard rates in #22.

As to non-charging banks. I have the the use of two in the UK as well as various credit cards. I've already posted about them on other threads within this forum.

Anyway, who runs around the world with thousands of pounds in cash these days?

You read about these characters being mugged on beach road with all of their cash on them.

Much simpler to use plastic. In my case it's cheaper too. When it comes to Thailand, I have some cash with me, to tide me over until I'm near an AEON.

I read your posts in this thread/topic; haven't read your posts in other threads/topics. I'm glad you have access to credit cards which don't charge a foreign transaction fee of 1 to 3% or more. But those kind of cards are unfortunately in the minority nowdays and growing fewer everyday as banks decide to increase the bottom line by charging the fee....since the majority of banks/cards already charge the fee. "Generally" the use of home country credit cards in a foreign country ends up with the foreign transaction fee hitting you for another 1 to 3%...unless, as you mentioned, you have a card that don't charge the fee.

Just keep in mind everyone does not have or have the capability to get those UK credit cards which you refer to that don't charge any fee. And from the number of UK residents in ThaiVisa complaining about high credit card fees they don't have these cards either. Maybe you could name those no-fee cards again in this tread? Thanks.

If they don't have the capability, it is because they have cut their UK ties and no longer have a UK address.

DC: Metro, Norwich & Peterborough, Cumberland, Santander Zero. CC: Santander Zero, Halifax Clarity, Saga, Post Office Mastercard...

[willyumcr]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa....ost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

Pip. Please read post #43 by Spaniel. He is correct. It doesn't matter which bank ATM I use as it is reimbursed by Charles Schwab Bank in the States. End of month my ATM fee is automatically credited to my account. 150baht is around $4.50. Schwab Bank reimburses worldwide ATM fees. I have no idea about the coding etc. Just the bottom line on the cost of withdrawing 20,000 baht. My bottom line cost was $668.75 - $4.50 = $664.25 for 20,000 baht (30.10 exchange rate) when the dollar rate cash that day was around 29.89 at Kasikorn bank.

Willyumcr

[Pib]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa....ost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

Pip. Please read post #43 by Spaniel. He is correct. It doesn't matter which bank ATM I use as it is reimbursed by Charles Schwab Bank in the States. End of month my ATM fee is automatically credited to my account. 150baht is around $4.50. Schwab Bank reimburses worldwide ATM fees. I have no idea about the coding etc. Just the bottom line on the cost of withdrawing 20,000 baht. My bottom line cost was $668.75 - $4.50 = $664.25 for 20,000 baht (30.10 exchange rate) when the dollar rate cash that day was around 29.89 at Kasikorn bank.

Willyumcr

Thanks. This is interesting. Since you say it does matter which bank ATM you use, "I will assume you have used a Bangkok Bank ATM machine" which is the machine I used when doing my ATM withdrawal that included the 150 baht fee. But per my post identified above, USAA said the detailed transaction record "did not" show a separate ATM fee on a total amount charged/withdrawn from the Bangkok Bank ATM. Since the fee was not broken out/identified separately in the transaction record per the USAA rep (but it's on my ATM paper receipt and to total amount hitting my account obviously includes the added fee), then I couldn't get a ATM fee rebate since it just looked like I withdrew X amount with no identifable fee applied. Apparently the record didn't show the separate fee because of the way the tranaction is transmitted. My post has more details.

Now even through I the USAA rep provided me this info on the phone and while looking at the detailed aTM tranaction record, I guess the confirmation of me automatically getting a reimbursement will come when this month's statement is processed when the reimbursement is also suppose to automatically occur. If a reimbursement appears then there must have been more details in the transaction record than even the USAA rep couldn' see; if no reimbursement occurs I guess the tranaction record did show all details and me not getting reimbursed is inline with what other USAA members on the USAA web site have also commented on (complainted about).

In closing, do you remember if you have definitely used a Bangkok Bank ATM machine using your Schawb card, since most people kinda fall in the groove of only using the ATMs from certain banks? Thanks.

Edited December 31, 2010 by Pib

[jfchandler]

Indeed, for U.S. folks, there are both credit cards and bank account debit cards available that charge no foreign currency fee, and also some debit cards that will reimburse ATM fees worldwide, either unlimited or up to some $ amount per month. In those cases, it's definitely better than carrying and using cash...

For the credit cards, Capital One Bank's credit cards all carry no foreign currency fee... none... Schwab's 2% card is/was the same, but it's no longer being offered for new accounts.

For debit cards, the Schwab Bank checking and savings accounts have no foreign currency fee and do reimburse foreign ATM fees at month's end. Capital One's Money Market Account card has no foreign currency fee, but doesn't reimburse foreign ATM fees. Those are all nationally available accounts.

And then, for debit cards, there are a lot of smaller banks and credit unions that offer the same benefits... you just have to seek them out and find them. Others of those have been mentioned in other banking threads here on TV that talk about foreign currency fees.

[jfchandler]

Pib, as far as the way Schwab handles those matters, if you don't get an automatic reimbursement that you're entitled to, you can call them and they'll correct it. They even say that on their bank web site. They may ask you to send a copy of the ATM receipt, though I''m not sure about that.... since I almost never use ATMs that charge the 150 baht fee.

PS - Back when I sometimes used to get ATM fee reimbursements from E-Trade, before they started charging a 1% foreign currency fee earlier this year, they always did immediate reimbursements that happened as the same time as your ATM withdrawal, and they never had any problem recognizing the correct fee amount, including from BKK Bank ATMs and others.

[Pib]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa....ost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

I dont think it makes any difference what Thai bank he (Willyumcr) uses. He is reimbursed by Charles Schwab Bank, his bank in the USA. My account is with Fidelity Investments and they too will reimburse overseas ATM fees.

Thanks. Since many people fall in the groove of only using certain Thai bank ATM machines (like me, I primarily just use BKK Bank and K Bank ATMs), do you remember if you have withdrawn money from a Bangkok Bank ATM. Right now I'm just trying to find out if it may just be a particular Thai bank(s) that possibly don't transmitted detailed ATM fee coding. Or, when the dust settles in a few weeks after my first USAA monthly statement is generated and if I do see a reimbursement of the Bangkok Bank ATM withdrawal then I will know the USAA rep I was talking with on the phone could not see the entired detailed record even through she said it was the complete record. Thanks again.

[jfchandler]

Only if you're using the wrong kind of credit or debit card. The solution is to use one that charges no foreign currency fees.. Problem solved.

What's expensive is losing your wallet or having it stolen, and losing all the cash inside with no way to recover it.

Carry cash for most purchases in Thailand. Using your foreign card is expensive.

[jfchandler]

Yes, you're getting right royally screwed, I'd agree about that... But, that doesn't mean everyone else is faring the same.

The answer is to change your bank and card, or at least, use a different one when you're traveling abroad. You need to use a card that doesn't charge foreign currency fees, and use an ATM in Thailand like AEON that doesn't charge the 150 baht withdrawal fee.

You also get right royally screwed if you withdraw money via an ATM using a debit card.

I have an Australian debit card mastercard and i withdrew 20.000 baht a few weeks back and it cost me well over 30 dollars with ATM fees and poor exchange rates to withdraw the money. It is a blantant rip off.

When you go to withdraw cash from an ATM, anytime the screen menu is asking you to accept a particular exchange rate, you're getting screwed... That means that ATM and bank are asking you to accept dynamic currency conversion, where that bank is setting its own (LOW) exchange rate. Bank of Ayudhya and Siam Commercial Bank ATMs are known to do that, though it depends on whether you're using a VISA or MC and what country your card is from. Don't accept that rate and/or use a different bank's ATM.

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

Your questions suggest you'd do well to educate yourself a bit better about how to smartly handle your money when you're traveling abroad.

[jfchandler]

Pib, I think USAA is jerking your chain...for some reason...

As stated above, other U.S. banks that do ATM fee reimbursements don't seem to have any problem recognizing the thai fee out of the total transaction...

Jim Gant is very familiar with USAA, so you might PM about his experience with them on this subject.

[willyumcr]

I use Charles Schwab Bank in States. I only use ATM's for withdrawals. Yesterday I took out 20,000 baht plus the 150 baht fee which I accepted and I was charged total $668.75 from my bank. Figure out the rate. Also I might add that at the end of the month (2 more days) I am reimbursed all 150 baht fees charged by Thai banks from Schwab. Also There are no Forign transaction fees charged by Charles Schwab. https://www.schwab.com/ This is the only way to go here in Thailand where they charge these fees. Not sure if you have similar banks in Australia.

Willyumcr,

What "Thai bank" ATMs do you withdraw from and still get the 150 baht ATM reimbursed?

See my post at http://www.thaivisa....ost__p__4117873 as to why I'm asking....the post partly deals with the fee coding/detail of an ATM transaction sent to your bank. Thanks.

Pib

Pip. Please read post #43 by Spaniel. He is correct. It doesn't matter which bank ATM I use as it is reimbursed by Charles Schwab Bank in the States. End of month my ATM fee is automatically credited to my account. 150baht is around $4.50. Schwab Bank reimburses worldwide ATM fees. I have no idea about the coding etc. Just the bottom line on the cost of withdrawing 20,000 baht. My bottom line cost was $668.75 - $4.50 = $664.25 for 20,000 baht (30.10 exchange rate) when the dollar rate cash that day was around 29.89 at Kasikorn bank.

Willyumcr

Thanks. This is interesting. Since you say it does matter which bank ATM you use, "I will assume you have used a Bangkok Bank ATM machine" which is the machine I used when doing my ATM withdrawal that included the 150 baht fee. But per my post identified above, USAA said the detailed transaction record "did not" show a separate ATM fee on a total amount charged/withdrawn from the Bangkok Bank ATM. Since the fee was not broken out/identified separately in the transaction record per the USAA rep (but it's on my ATM paper receipt and to total amount hitting my account obviously includes the added fee), then I couldn't get a ATM fee rebate since it just looked like I withdrew X amount with no identifable fee applied. Apparently the record didn't show the separate fee because of the way the tranaction is transmitted. My post has more details.

Now even through I the USAA rep provided me this info on the phone and while looking at the detailed aTM tranaction record, I guess the confirmation of me automatically getting a reimbursement will come when this month's statement is processed when the reimbursement is also suppose to automatically occur. If a reimbursement appears then there must have been more details in the transaction record than even the USAA rep couldn' see; if no reimbursement occurs I guess the tranaction record did show all details and me not getting reimbursed is inline with what other USAA members on the USAA web site have also commented on (complainted about).

In closing, do you remember if you have definitely used a Bangkok Bank ATM machine using your Schawb card, since most people kinda fall in the groove of only using the ATMs from certain banks? Thanks.

Pip I said it "didn't " Matter which bank you used for withdrawal. I mainly use Kasikorn as I have an account there and usually make deposits at the same time. I also have used SCB ATM but I don't recall using Bangkok Bank. And yes the reimbursements are automatic. I don't need to send receipts. Just go by bottom line on how much it cost you for the 20,000 baht withdrawal. Willyumcr

[Tolley]

Yes, you're getting right royally screwed, I'd agree about that... But, that doesn't mean everyone else is faring the same.

The answer is to change your bank and card, or at least, use a different one when you're traveling abroad. You need to use a card that doesn't charge foreign currency fees, and use an ATM in Thailand like AEON that doesn't charge the 150 baht withdrawal fee.

You also get right royally screwed if you withdraw money via an ATM using a debit card.

I have an Australian debit card mastercard and i withdrew 20.000 baht a few weeks back and it cost me well over 30 dollars with ATM fees and poor exchange rates to withdraw the money. It is a blantant rip off.

When you go to withdraw cash from an ATM, anytime the screen menu is asking you to accept a particular exchange rate, you're getting screwed... That means that ATM and bank are asking you to accept dynamic currency conversion, where that bank is setting its own (LOW) exchange rate. Bank of Ayudhya and Siam Commercial Bank ATMs are known to do that, though it depends on whether you're using a VISA or MC and what country your card is from. Don't accept that rate and/or use a different bank's ATM.

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

Your questions suggest you'd do well to educate yourself a bit better about how to smartly handle your money when you're traveling abroad.

Well i figured that the bank offered rate was low ball so rejected it but I hadn't seen that option when withdrawing money in the past.

I don't use my card unless i go overbudget which happens occasionally. I don't know if Australia has any cards that reimburse OS ATMS and don't charge foreign currency conversion fees.

[Jiu-Jitsu]

Yes, you're getting right royally screwed, I'd agree about that... But, that doesn't mean everyone else is faring the same.

The answer is to change your bank and card, or at least, use a different one when you're traveling abroad. You need to use a card that doesn't charge foreign currency fees, and use an ATM in Thailand like AEON that doesn't charge the 150 baht withdrawal fee.

You also get right royally screwed if you withdraw money via an ATM using a debit card.

I have an Australian debit card mastercard and i withdrew 20.000 baht a few weeks back and it cost me well over 30 dollars with ATM fees and poor exchange rates to withdraw the money. It is a blantant rip off.

When you go to withdraw cash from an ATM, anytime the screen menu is asking you to accept a particular exchange rate, you're getting screwed... That means that ATM and bank are asking you to accept dynamic currency conversion, where that bank is setting its own (LOW) exchange rate. Bank of Ayudhya and Siam Commercial Bank ATMs are known to do that, though it depends on whether you're using a VISA or MC and what country your card is from. Don't accept that rate and/or use a different bank's ATM.

I have a question thou when you withdraw some ATMS in Thailand give you an exchange rate which you can accept of reject before you complete your transaction. The rate is about a point below the official rate. Is it better to accept this rate or not?

Your questions suggest you'd do well to educate yourself a bit better about how to smartly handle your money when you're traveling abroad.

Well i figured that the bank offered rate was low ball so rejected it but I hadn't seen that option when withdrawing money in the past.

I don't use my card unless i go overbudget which happens occasionally. I don't know if Australia has any cards that reimburse OS ATMS and don't charge foreign currency conversion fees.

Isn't it about time you found out?

[Pib]

If they don't have the capability, it is because they have cut their UK ties and no longer have a UK address.

DC: Metro, Norwich & Peterborough, Cumberland, Santander Zero. CC: Santander Zero, Halifax Clarity, Saga, Post Office Mastercard...

Thanks. It appears Americans seem to have much fewer choices in getting a no foreign tranaction fee credit card (CC) and debit cards (DC). I think the article at this link pretty much sums it up for US comsumers regarding credit cards: http://www.indexcreditcards.com/internationaltransactionfees/

There is also a link on the page called "Complete Credit Card List" that allows a person to drill down to hundreds of US banks, credit unions, etc., to what what credit card fees are charged, requirements to get the card, etc. Cheers.

Edited December 31, 2010 by Pib

[thaibeachlovers]

OP

What do you think the 'rip-off' cost you in hard baht?, at the 1 baht per dollar difference.

about 10 baht. however, i have to work for my money.

You got my vote....Better this 10 baht in your pocket versus Sizzler's. Plus, I'm glad you brought up the DCC subject, if for nothing else, to remind myself to watch out for this "another hand in your pocket" transaction method when using a home country credit card in another country.

I agree, it's not the 10 Baht, it is the principle .

Hmmm, whenever I complain about being ripped off for small amounts, on principle, I am decried for being a "meanie", and it's only a few baht!

IMO all credit cards are scams by the banks, and I'll not use them if I can pay by cash. If I did have to use one, I made sure I paid it off before they could rip me off for interest and charges ( have you used a card to get cash recently? ). Been ripped off too many times by the banks to want to give them my money any more. I had a good moment recently when I cut up my cards- felt great!