Dont do CBA withdrawals in LOS- rip off

[davidst01]

The Commonwealth Bank of Australia is a company that scams its loyal customers and I would recommend that you do not use your ATM card here in Thailand.

I did two 10,000 baht withdrawals one with CBA card and one with ATM within a few days of each other and the commonwealth bank hit me with a $15 fee and a crap rate whilst ANZ was only a $5 fee with a better exchange rate.

I used the CBA card in Indonesia a few months ago at an actual CBA atm machine which they have in Bali. In this situation they only charged a $2 fee but the rate was really bad.

Its a greedy bank seeking to maximise shareholders profits rather than looking after the best interests of its customers. I will be closing my cba accounts the next time I return to the nanny state.

If your an australian how do you access your cash from oz. What bank do you use?

[David48]

I have a CBA Account.

If I want money in Thailand, I bring cash and exchange here.

If I have a fair wack of money to exchange, I have a Thai bank account and use a FX account ... these guys ... http://www.xe.com/currencyconverter/convert/?Amount=1&From=AUD&To=THB&image.x=47&image.y=14ℑ=Submit

[dundas]

I use a Citibank debit card which doesn't seem to have a mark-up on the stock Visa forex rate and adds no fees (only the Thai bank's fee, if you don't go to an Aeon ATM or, presumably, a Citibank ATM). I also have used a GE 28 degrees card as a debit card, but GE Finance will soon commence charging a 4% commission on every cash advance, regardless of whether my savings are being used as the funding source or not, so this card will only be good for purchases in future.

I have Commonwealth and ANZ cards which I have never used in a foreign ATM, and which I have never used for purchases either. They both offer uncompetitive rates.

I wouldn't hold up ANZ as a great place to deal with when it comes to foreign exchange. I recently attempted to transfer $US360 to the US. It cost me $A438, and unfortunately the receiving bank couldn't match the account name and number and returned it. $438 went out of my account and $315 came back in. So far I've paid $123, and not a cent has gone into anyone's hands apart from those of greedy bankers.

Paypal and Western Union seem like generous benefactors compared to any of the big four Australian banks.

[Naam]

Its a greedy bank seeking to maximise shareholders profits rather than looking after the best interests of its customers.

which bank does look after the best interests of its customers?

[David48]

which bank does look after the best interests of its customers?

Mate ... not being an Aussies, you probably don't know the humour behind your statement.

In advertising the CBA is the 'which bank'.

But more recently ...

.

[MrWorldwide]

Initially, I thought the banks reserved their nastiest fees for purchases made with credit cards, but I believe they are being hit by one of the big boys each time any currency conversion takes place and are passing that on along with a little 'taste' of their own: all up, the transactions I've looked at seem to come in somewhere in the 4-5% range but I dont have a record of the Mastercard exchange rate at the time of the transaction. The reality - whether you exchange notes or withdraw money from an ATM - is that someone wants to make money on the exchange. When I look at the pathetic rates offered by the likes of Travelex and Western Union, suddenly the banks dont seem so bad.

https://www.commbank.com.au/personal/credit-cards/card-fees-charges.html

International Transaction5 :

• Transactions converted by MasterCard® or Visa (5): 3.00%
• Transactions converted by American Express® (5) : 2.00%
• Transactions overseas but in Australian dollars(6): 2.00%

In addition, American Express transactions are also subject to a 1.50% American Express currency conversion factor which is included in the converted transaction amount. Click here for standard fees and charges brochure.

[MrWorldwide]

Its a greedy bank seeking to maximise shareholders profits rather than looking after the best interests of its customers.

which bank does look after the best interests of its customers?

A sperm bank ?

(Sorry - had to get in before some other wag does)