4evermaat Posted June 12, 2011 Share Posted June 12, 2011 (edited) I recently made a charge on friday for USD 400.00 on a foreign company's website. I logged into BBL and see that same charge appears as ≈12,364 . I figured the extra ≈364 was for a foreign transaction fee? BBL does not do a good job of separating their debit card transaction fees from the total price. The business i purchase from said that they do not add any fees. I'm waiting back from bangkok bank cs, but wanted others experience with Bangkok Bank or any other Thai bank on the fees for using their thai bank debit card to purchase something priced in non-thb dollars. Edited June 12, 2011 by 4evermaat Link to comment Share on other sites More sharing options...
vont Posted June 12, 2011 Share Posted June 12, 2011 (edited) there has always been a 2% surcharge added on to transaction via banks.... perhaps, you have not had the opportunity to use your cc for a while? but for me, the 2% did appear as a separate item on my monthly statement without fail. now, not that i like to it.... losing some 600 usd as fees is a little annoying in anyone's book.... hope, someone really bright could figure out someway to deter this sort of imposition upon us who live overseas.... Edited June 12, 2011 by vont Link to comment Share on other sites More sharing options...
4evermaat Posted June 13, 2011 Author Share Posted June 13, 2011 there has always been a 2% surcharge added on to transaction via banks.... perhaps, you have not had the opportunity to use your cc for a while? but for me, the 2% did appear as a separate item on my monthly statement without fail. ...... Is this the bangkok bank debit card or credit card? I use the debit card. It was more like 3%. Perhaps it will separate when it posts, but unfortunately BBL's internet banking transactions for savings account isn't the most detailed. Link to comment Share on other sites More sharing options...
vont Posted June 13, 2011 Share Posted June 13, 2011 (edited) there has always been a 2% surcharge added on to transaction via banks.... perhaps, you have not had the opportunity to use your cc for a while? but for me, the 2% did appear as a separate item on my monthly statement without fail. ...... Is this the bangkok bank debit card or credit card? I use the debit card. It was more like 3%. Perhaps it will separate when it posts, but unfortunately BBL's internet banking transactions for savings account isn't the most detailed. the 2% added on charge on top of everything else is really a rip-off, the worst of the worst kind, especially it is your own money from your own USD cash reserved acct.... am attaching a pix to ascertain that such practices by international banking corp really really exists.... but should be condemned and COULD BE DONE TOO.... IF WE ALL PUT OUR EFFORT TOGETHER..... anyone has the time to organize this very worthwhile cause....?? Any one??? Any one at all????? Edited June 13, 2011 by vont Link to comment Share on other sites More sharing options...
4evermaat Posted June 13, 2011 Author Share Posted June 13, 2011 the 2% added on charge on top of everything else is really a rip-off, the worst of the worst kind, especially it is your own money from your own USD cash reserved acct.... am attaching a pix to ascertain that such practices by international banking corp really really exists.... but should be condemned and COULD BE DONE TOO.... IF WE ALL PUT OUR EFFORT TOGETHER..... anyone has the time to organize this very worthwhile cause....?? Any one??? Any one at all????? well, i was just trying to survey the community and see which of the thai banks charged what % fee on their foreign transactions. I know banks in usa who may charge 0.5 - 3% on foreign transactions. So it is nothing new. and there's not much you can do, except vote with your feet. Link to comment Share on other sites More sharing options...
vont Posted June 13, 2011 Share Posted June 13, 2011 the 2% added on charge on top of everything else is really a rip-off, the worst of the worst kind, especially it is your own money from your own USD cash reserved acct.... am attaching a pix to ascertain that such practices by international banking corp really really exists.... but should be condemned and COULD BE DONE TOO.... IF WE ALL PUT OUR EFFORT TOGETHER..... anyone has the time to organize this very worthwhile cause....?? Any one??? Any one at all????? well, i was just trying to survey the community and see which of the thai banks charged what % fee on their foreign transactions. I know banks in usa who may charge 0.5 - 3% on foreign transactions. So it is nothing new. and there's not much you can do, except vote with your feet. NOT SO.... there are alternatives that we could elect to do, if we wish..... as far as i know, the attached is only one of the several ways.... to protest against excessive charges levied by commercial banking institutions.... pls click on the attachment for detail, if it works for you, more power to you....; if not your cup of tea, then.... that is ok too.... To contact your Senators by phone: 1-877-422-3525 To contact YOUR Senators by email: CONNECT FOR THE CAUSE Link to comment Share on other sites More sharing options...
Pib Posted June 14, 2011 Share Posted June 14, 2011 (edited) there has always been a 2% surcharge added on to transaction via banks.... perhaps, you have not had the opportunity to use your cc for a while? but for me, the 2% did appear as a separate item on my monthly statement without fail. ...... Is this the bangkok bank debit card or credit card? I use the debit card. It was more like 3%. Perhaps it will separate when it posts, but unfortunately BBL's internet banking transactions for savings account isn't the most detailed. Searching the Bangkok web site for debit card fees I couldn't find anything that talks about foreign point of sale transaction fees but from me using my Bangkok Bank debit card once way back to pay for a Ebay puchase via PayPal (the card was linked in PayPal), I remember the charge that ended up hitting my Bangkok Bank account was around 2 to 3%. I see Bangkok Bank credit cards do charge a "no more than 2% of the exchange rate specified by Bangkok Bank credit card network provider" on foreign transactions. Throw in the 1% foreign transaction fee charged by Visa/Mastercard (unless your bank eats that charge...Bangkok Bank probably don't) and you're up to 3%. Since a bank's foreign transaction fee is usually the same for its credit cards or debit cards, 3% of your core 12,000 baht ($400 @ 30Baht/USD ) purchase comes out to 3.03% which is real, real close to the approx charge you are talking about. Edited June 14, 2011 by Pib Link to comment Share on other sites More sharing options...
Daveroc Posted June 14, 2011 Share Posted June 14, 2011 The original post in this thread states that a purchase of USD400 came through as 12,364 baht on the account. The OP is questioning where the extra 364 baht came into the picture and assumed it to be fees. Not sure what date the transaction took place but the USD selling rate for last friday was 30.52. This would make the cost of the purchase 12208 baht with fees at 156 baht. Link to comment Share on other sites More sharing options...
4evermaat Posted June 15, 2011 Author Share Posted June 15, 2011 Searching the Bangkok web site for debit card fees I couldn't find anything that talks about foreign point of sale transaction fees but from me using my Bangkok Bank debit card once way back to pay for a Ebay puchase via PayPal (the card was linked in PayPal), I remember the charge that ended up hitting my Bangkok Bank account was around 2 to 3%. I see Bangkok Bank credit cards do charge a "no more than 2% of the exchange rate specified by Bangkok Bank credit card network provider" on foreign transactions. Throw in the 1% foreign transaction fee charged by Visa/Mastercard (unless your bank eats that charge...Bangkok Bank probably don't) and you're up to 3%. Since a bank's foreign transaction fee is usually the same for its credit cards or debit cards, 3% of your core 12,000 baht ($400 @ 30Baht/USD ) purchase comes out to 3.03% which is real, real close to the approx charge you are talking about. The original post in this thread states that a purchase of USD400 came through as 12,364 baht on the account. The OP is questioning where the extra 364 baht came into the picture and assumed it to be fees. Not sure what date the transaction took place but the USD selling rate for last friday was 30.52. This would make the cost of the purchase 12208 baht with fees at 156 baht. here is the email i got fron bbl "Referring to your inquiry to check about the Be 1st card transaction on 11/06/11 amount 12,364.69 Baht. Please be informed that there will be an exchange rate for goods and services purchased by card usage overseas, and that the exchange rate Bangkok Bank uses is the card association rate(VISA)plus an exchange fee of not more than 2.5 percent. We use the rate from the date in which the merchant submit their billing for payment via Visa. In this case the merchant submit the billing via Visa to Bangkok Bank on 10/06/11 plus an exchange fee of 1.6% 1 U.S.Dollar = 30.911706 Thai Baht You can use the currency converter below to get an indication of the rate you may receive when using your Visa card. http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp" Looks like it is just about settled. I thought paypal gave me a bad exchange rate Link to comment Share on other sites More sharing options...
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