fed up with bank fees

puck2 · March 1, 2015

If you use a non-Thai bank card - normaly a VISA- or a MASTERS - forget all the different bank rates. Oanda and Thai bank rates merely give you a clue about the exchange rate to be expected today. They never match exactly the rates of VISA or MASTERS.

VISA rates are fixed one day in advance of the trading day, very usful. You can google "visa exchange rates" to find the URL.There is only 1 rate for a day. On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. To make it complicated, VISA Europe's rates in general don't exactly comply with the US and world rates, but are not very different. Master's exchange rates are fixed on the evening/night of the trading day. That means you don't see them in advance.

The rates for the SWIFT-transfers depend on the receiving bank, in general more than one at a trading day. Therefore there are different rates at the same day in the same bank.

Since the Iron Lady has transformed GB into a more industrial and monetary state she opened the door a little bit too wide for the greedy bankers. It is hard to find a bank in GB giving you fee-free money transfers to Thailand, in contrast to other countrries.

And be happy that the EU restricted VISA and MASTERS to charge higher exchange rates, at least one of the positive results of the EU. Some banks with no direct connection to the receiving bank charge an additional fee for an intermediary (bank). This fee reduces your transfered amount, but you don't see it in your Thai bank account.

BTW, the VISA-exchange rate for today(SUN) and tomorrow (MON) is

1 BRITISH POUND = 49.6497626304 THAI BAHT

Edited March 1, 2015 by puck2

Coyoti · March 1, 2015

I've been transferring money directly from my credit union to my Bangkok Bank account for several years. It's conveniently all done online and inexpensive for transfers of a few thousand $$. Smaller transfers seemed kind of expensive though. I thought maybe there was an intermediary bank as with many SWIFT transfers, but it turns out the intermediary is Bangkok Bank itself. Apparently the NY branch takes a $5 fee that I can't find any info about, but did see a post about in a different forum. Since I return to the States every year, in my situation bringing back as much cash as possible and doing the exchange at either Super Rich or Vasu in Bangkok can often be get me the best rate, even considering the difference between the "Selling" and "TT" rates. However, it's a bit of a balancing act in terms of timing and calculating the fees I would have had to pay for not carrying cash. I like the idea of a no fee ATM card, especially one that reimburses the Thai fee, and will investigate using Charles Schwab in the future. Hopefully there are other similar no fee ATM providers out the too.

meltingpot2015 · March 1, 2015

Those from UK: There is a debit card by N&P (Norwich and Peterborough) Building Society that offers free ATM withdrawals. From what I gather you need to hold a gold classic or gold light current account. So, no charges by the home bank. See the info here:

http://www.nandp.co.uk/existing-customers/current-account/your-visa-debit-card/#tabs-3

I came across this reading the comments in an article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

The N&P website link above says, the xchange rate (the VISA wholesale xchange rate) will be shown at the time of the ATM withdrawal. How refreshing is that!!.

puck2: "On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. " - Are you sure about this. I made ATM withdrawal on Friday and today. Rate today was slightly lower than fridays. The card is a UK bank issued VISA Electron.

Jiu-Jitsu · March 2, 2015

Those from UK: There is a debit card by N&P (Norwich and Peterborough) Building Society that offers free ATM withdrawals. From what I gather you need to hold a gold classic or gold light current account. So, no charges by the home bank. See the info here:

http://www.nandp.co.uk/existing-customers/current-account/your-visa-debit-card/#tabs-3

I came across this reading the comments in an article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

The N&P website link above says, the xchange rate (the VISA wholesale xchange rate) will be shown at the time of the ATM withdrawal. How refreshing is that!!.

puck2: "On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. " - Are you sure about this. I made ATM withdrawal on Friday and today. Rate today was slightly lower than fridays. The card is a UK bank issued VISA Electron.

Unfortunately, your post is mostly nonsense and outdated.

The Gold Light account no longer exists for new customers.

You assertion that the exchange rate will be shown at the time of the ATM withdrawal is pure nonsense.

The card issued is not the VISA Electron.

There will be no free ATM withdrawals in Thailand with this card.

So overall, your post is a confusing mish-mash.

puck2 · March 2, 2015

Those from UK: There is a debit card by N&P (Norwich and Peterborough) Building Society that offers free ATM withdrawals. From what I gather you need to hold a gold classic or gold light current account. So, no charges by the home bank. See the info here:

http://www.nandp.co.uk/existing-customers/current-account/your-visa-debit-card/#tabs-3

I came across this reading the comments in an article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

The N&P website link above says, the xchange rate (the VISA wholesale xchange rate) will be shown at the time of the ATM withdrawal. How refreshing is that!!.

puck2: "On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. " - Are you sure about this. I made ATM withdrawal on Friday and today. Rate today was slightly lower than fridays. The card is a UK bank issued VISA Electron.

1. Many banks offer their gold, diamond Visa/Mastercards - or with similar names - promising: "You won't need to pay any commission on foreign currency". There is only one problem, a very high fee for those cards, compensating the fees for forreign currencies.

2. They didn't say where you can see the excange rate at the time of withdrawel. I guess in your VISA-card-account in your home country, but not here in Thailand.

3. On Friday you've got the VISA exchange from Friday (fixed on Thuersday). Was it:

1 BRITISH POUND = 49.8741853850 THAI BAHT ???

This rate cannot be the same as that from Sunday (fixed at Friday at night)

Let me add another point, concerning time difference between Thailand and the country of the card issuing bank, GB in your case. One example. The new VISA excange rates for tomorrow (TU) are not shown before midnight GB-time. That means not before 7 a.m. Thai time (normaly it will be a little bit later).

Another point you have to consider, the bank's closing time for booking (normal customer). From my experience with German banks, if I want the Tuesday VISA exchange rate I have to go to the ATM on Tuesday before high noon German time = 6 p.m. Thai time (5 p.m. after the last weekend in March). Otherwise my account will be debited with the next day's rate = WED rate. But I don't know, if that matches the GB banking system.

Edited March 2, 2015 by puck2

Jiu-Jitsu · March 2, 2015

Those from UK: There is a debit card by N&P (Norwich and Peterborough) Building Society that offers free ATM withdrawals. From what I gather you need to hold a gold classic or gold light current account. So, no charges by the home bank. See the info here:

http://www.nandp.co.uk/existing-customers/current-account/your-visa-debit-card/#tabs-3

I came across this reading the comments in an article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

The N&P website link above says, the xchange rate (the VISA wholesale xchange rate) will be shown at the time of the ATM withdrawal. How refreshing is that!!.

puck2: "On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. " - Are you sure about this. I made ATM withdrawal on Friday and today. Rate today was slightly lower than fridays. The card is a UK bank issued VISA Electron.

1. Many banks offer their gold, diamond Visa/Mastercards - or with similar names - promising: "You won't need to pay any commission on foreign currency". There is only one problem, a very high fee for those cards, compensating the fees for forreign currencies.

2. They didn't say where you can see the excange rate at the time of withdrawel. I guess in your VISA-card-account in your home country, but not here in Thailand.

3. On Friday you've got the VISA exchange from Friday (fixed on Thuersday). Was it:

1 BRITISH POUND = 49.8741853850 THAI BAHT ???

This rate cannot be the same as that from Sunday (fixed at Friday at night)

Let me add another point, concerning time difference between Thailand and the country of the card issuing bank, GB in your case. One example. The new VISA excange rates for tomorrow (TU) are not shown before midnight GB-time. That means not before 7 a.m. Thai time (normaly it will be a little bit later).

Another point you have to consider, the bank's closing time for booking (normal customer). From my experience with German banks, if I want the Tuesday VISA exchange rate I have to go to the ATM on Tuesday before high noon German time = 6 p.m. Thai time (5 p.m. after the last weekend in March). Otherwise my account will be debited with the next day's rate = WED rate. But I don't know, if that matches the GB banking system.

There is no fee for the card. Just a usage requirement or a penalty. The rest of your post is a bit off-topic.

Neeranam · March 2, 2015

I send from my RBS account straight to a gaming site then that site to my Bangkok Bank account. Total about $20 for about $1000

meltingpot2015 · March 2, 2015

Those from UK: There is a debit card by N&P (Norwich and Peterborough) Building Society that offers free ATM withdrawals. From what I gather you need to hold a gold classic or gold light current account. So, no charges by the home bank. See the info here:

http://www.nandp.co.uk/existing-customers/current-account/your-visa-debit-card/#tabs-3

I came across this reading the comments in an article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

The N&P website link above says, the xchange rate (the VISA wholesale xchange rate) will be shown at the time of the ATM withdrawal. How refreshing is that!!.

puck2: "On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. " - Are you sure about this. I made ATM withdrawal on Friday and today. Rate today was slightly lower than fridays. The card is a UK bank issued VISA Electron.

1. Many banks offer their gold, diamond Visa/Mastercards - or with similar names - promising: "You won't need to pay any commission on foreign currency". There is only one problem, a very high fee for those cards, compensating the fees for forreign currencies.

2. They didn't say where you can see the excange rate at the time of withdrawel. I guess in your VISA-card-account in your home country, but not here in Thailand.

3. On Friday you've got the VISA exchange from Friday (fixed on Thuersday). Was it:

1 BRITISH POUND = 49.8741853850 THAI BAHT ???

This rate cannot be the same as that from Sunday (fixed at Friday at night)

Let me add another point, concerning time difference between Thailand and the country of the card issuing bank, GB in your case. One example. The new VISA excange rates for tomorrow (TU) are not shown before midnight GB-time. That means not before 7 a.m. Thai time (normaly it will be a little bit later).

Another point you have to consider, the bank's closing time for booking (normal customer). From my experience with German banks, if I want the Tuesday VISA exchange rate I have to go to the ATM on Tuesday before high noon German time = 6 p.m. Thai time (5 p.m. after the last weekend in March). Otherwise my account will be debited with the next day's rate = WED rate. But I don't know, if that matches the GB banking system.

Puck2:

I do (did) take time differences in to account. When I made Friday ATM withdrawal in Bangkok it was also Friday in UK.

The rate I was offered for Fridays ATM withdrawal was 1 BRITISH POUND = 49.87365 THB, so its not the same as (3) in your post.

Take your point about the ATM withdrawals (Friday's and Sunday's) not been at the same rate because Fridays was at Thursday's rate.

2) They (the N&P Building Society) do say where you can see the exchange rate at the time of the withdrawal. How else would you interpret:

You don't need to worry about running out of holiday money when you're overseas. Just go to any cash machine displaying the VISA/PLUS symbol and you can withdraw up to £250 of currency per day. The rate of exchange will be shown at the time of your transaction.

They are talking about while you are on holiday OVERSEAs.

1) There is a 5GBP fee for the account, if you dont pay-in 500 GBP per month in to the account, or a balance of 5000 GBP. SO you are correct, there is a FEE.

But depending on how many ATM withdrawals someone makes, it could be a lower FEE. e.g. I am charged about 10 GBP on fees by home bank per ATM withdrawal. So in one year, if I make 7 overseas ATM withdrawals it would be best to go with the N&P account. However, it means changing banks.

Edited March 2, 2015 by meltingpot2015

puck2 · March 3, 2015

1.

I do (did) take time differences in to account. When I made Friday ATM withdrawal in Bangkok it was also Friday in UK.

The rate I was offered for Fridays ATM withdrawal was1BRITISH POUND = 49.87365 THB, so its not the same as (3) in your post.

Take your point about the ATM withdrawals (Friday's and Sunday's) not been at the same rate because Fridays was at Thursday's rate.

You have got the Friday exchange rate. It's exactly Friday's VISA amount in GBP. Do the math. Assumed your withdrawel was 20.000 THB your bank account was debited by 20.180 THB (180 THB = ATM fee)

20.180 THB : 49.8741853850 (as shown under VISA-Europe exchange rates) = 404,62 GBP

20.180 THB : 49.87365 ("The rate I was offered for Fridays ATM withdrawal) = 404,62 GBP

Not the sam rate, if you are meticulous.

2.

They (the N&P Building Society) do say where you can see the exchange rate at the time of the withdrawal. How else would you interpret: ....

Fact is, as stated before in #34, here in Thailand you don't see the VISA exchange rate neither on the ATM screen nor on your slip.

3.

There is a 5GBP fee for the account, if you dont pay-in 500 GBP per month in to the account, or a balance of 5000 GBP. SO you are correct, there is a FEE.

Isn't that a negative condition - like a fee?

As I said before in other words: it seems there is no free lunch for holders of Brtish bank cards. Money transfers are not feeless, too. So it's normal to be "fed-up with (British) banks fees".

Edited March 3, 2015 by puck2

meltingpot2015 · March 3, 2015

Puck2:

1) I see what you mean, when you say

You have got the Friday exchange rate.

(you mean, I received Thursday's rate on Friday).

With your calculation, you get the same result 404.62 GBP, if you choose 20,180 THB as the ATM Transaction amount.

If you ATM withdraw 10,000 (10,180 THB with ATM fee) - then the total amount in GBP becomes:

10180 / 49.8741853850 = 204.11
10180 / 49.87365 = 204.12

Depending on the withdrawal (transaction) amount you may see a slight difference. Not much. But interesting that my bank (not N&P by the way) did not match the published VISA wholesale rate. Its always lower never higher.

2) The bank (building society) N&P is saying to its potential customers that they will see the exchange rate before the ATM withdrawal, when we in Thailand know that that does not happen. So should the bank be allowed to say this on the website..

3) "Isn't that a negative condition - like a fee?" - I was agreeing what you have said before in post #35. Although, it "seems" there is no fee for the ATM withdrawal, the bank always finds a way to pick your pocket. (by way of an annual fee, or making sure you put enough money into the account to raise the banks leverage?..to use banking speak)

I think you are being really modest when you say "it seems there is no free lunch for holders of British bank cards." - 10 years ago it was not a free lunch, now its suddenly become a "free lunch". I wonder if its actually lunch we are offered (ATM use abroad) or just a snack, but charged for a lunch.

Also, if the banks were to use the argument. "things have changed now". My reply would be - you seem to love win-win situations.

puuchaibaa · March 3, 2015

I used to use Citibank, then they started charging fees even at their own ATMs outside of the US. It's been a few years, but they used to charge a bit for transfers to other banks; whenever I had to move money I'd initiate it at the other bank because it would always be free. Screw 'em!

If you have a gold account at a Citi bank in USA you won't be charged fees for taking money from ATM overseas. Baring that if you open a Citi Bank account with 100,000 baht at branch across from Asok station you can make transfers of funds or take money from USA accounts with no fees charged.

Yes, Citibank likes to hype that Citigold transfers and ATM withdrawals within Citibank are free worldwide. BUT what they don't mention is that they apply ridiculously unfavourable exchange rates on these transfers (or electronic transfers of any kind it seems).

Transactions conducted in person at the branch however are different and the exchange rate there is similar to market rates. So now when I need to transfer to the US, I will get a USD bank draft at the branch (fee free) and mail it to the US. It's a hassle but it's Bt 100 postage vs a possible Bt 2000 exchange rate loss. This is the reverse of the OP, but my point is be wary of "fee free" services.

Another way is to overpay your credit card and do cash advances here. A friend of mine visiting Thailand seems to favour this as cash advances are widely done. He pays a small fee each time (less than Bt 100?) but there are no financing charges due to having a debit balance. As always, you have to be careful of the exchange rate you are being charged.

Jiu-Jitsu · March 3, 2015

Puck2:

1) I see what you mean, when you say

You have got the Friday exchange rate.

(you mean, I received Thursday's rate on Friday).

With your calculation, you get the same result 404.62 GBP, if you choose 20,180 THB as the ATM Transaction amount.

If you ATM withdraw 10,000 (10,180 THB with ATM fee) - then the total amount in GBP becomes:

10180 / 49.8741853850 = 204.11

10180 / 49.87365 = 204.12

Depending on the withdrawal (transaction) amount you may see a slight difference. Not much. But interesting that my bank (not N&P by the way) did not match the published VISA wholesale rate. Its always lower never higher.

2) The bank (building society) N&P is saying to its potential customers that they will see the exchange rate before the ATM withdrawal, when we in Thailand know that that does not happen. So should the bank be allowed to say this on the website..

3) "Isn't that a negative condition - like a fee?" - I was agreeing what you have said before in post #35. Although, it "seems" there is no fee for the ATM withdrawal, the bank always finds a way to pick your pocket. (by way of an annual fee, or making sure you put enough money into the account to raise the banks leverage?..to use banking speak)

I think you are being really modest when you say "it seems there is no free lunch for holders of British bank cards." - 10 years ago it was not a free lunch, now its suddenly become a "free lunch". I wonder if its actually lunch we are offered (ATM use abroad) or just a snack, but charged for a lunch.

Also, if the banks were to use the argument. "things have changed now". My reply would be - you seem to love win-win situations.

I think there's a bit too much unnecessary complaining here. There is no fee for the N&P account. Why shouldn't the bank/building society be allowed to make money? If they didn't put a usage requirement, people would open account just for holiday usage and such.

Many people just cycle the same £500 in and out of the account, in order to avoid the £5 penalty. It doesn't have to stay in the account for the whole month.

As to ATM charges.......don't use an ATM.

puck2 · March 4, 2015

@Jiu-Jitsu; I don't mind

I think, there's a bit too much unnecessary complaining here.

But you say "Why shouldn't the bank/building society be allowed to make money?" The banks make already money by the difference between buying and selling rates. And they have other tools to take the fingers into your wallet (not the subject here). That's the background of my "unnessary complaining". Why should it be justified to take your money for every sh@t they are doing?

If there would be a real competition in the GB-banking-system there would be at least one bank offering completely free (ATM) money transfers without any negative conditions as Schwab in the USA and (online) DKB in Germany for example. The mentioned banks didn't go bankrupt until today.

Banks have a big estomac!

Edited March 4, 2015 by puck2

NancyL · March 4, 2015

I transfer funds from my U.S. credit union to my CM Bangkok Bank account 3 - 4 times a year using on-line interbank transfer of my U.S. credit union. Very easy and cheap ACH transfer thru Bangkok Bank's NYC branch. I believe there is a similar system thru Bangkok Bank's London branch, which gives British people the advantage of dealing with Bangkok Bank as if it were a U.K. bank for money transfers.

From details of how to transfer funds from your U.K. account to your local Bangkok Bank account from the Bangkok Bank website: http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

meltingpot2015 · March 4, 2015

@Jiu-Jitsu;

As to ATM charges.......don't use an ATM.

Over the counter withdrawal may only take-away the Thai bank withdrawal charge, home bank may still apply the usual charges. Some bank accounts (in U.S and Germany) provide accounts that allow free overseas ATM withdrawals (both home and overseas bank fee) without conditions. i.e. requirement for a monthly deposit of 500 GBP, or a minimum account balance. Having Free ATM withdrawals dosen't stop anyone from making an over the counter withdrawal (which may also be free with the U.S and German bank accounts). Over the counter is always service with a smile and we just need to take our passport.

cycle the same £500 in and out of the account

This is suitable for anyone who can afford to do this, but what about those who can't. They would get the 5 GBP monthly charge. So, are we gonno put them in the same bracket as

those who would open an account just for holiday usage and such.

JimGant · March 4, 2015

Based on data I ran over a year ago, using Visa and MasterCard ATM cards, the daily Visa rate changes at approximately 0001AM New York time (I say approximately, because I did see it roll to the next day slightly ahead of this schedule). So, in Thailand, this means about noon (or about 11:00AM during daylight savings time, which begins this weekend). Thus, if you make a Visa ATM withdrawal at 10:00AM Thai time, on a Wednesday, you'll get Tuesday's published rate. Do the withdrawal at 1:00PM on Wednesday, you'll get Wednesday's rate.

MasterCard is about 9 hours behind Visa. Thus, all daylight ATM withdrawals in Thailand get the previous day's rate.

Weekend and Monday's rate comes out at 0001 Saturday. (The same rate for all three days, which is actually Monday's rate backfilled to Saturday and Sunday.) So, a Saturday ATM pull at 10:00AM will get your Friday's rate -- a 1:00PM pull will get you the Sat, Sun, Mon rate. Don't know about MC, as they don't publish their weekend rates.

Visa and MC POS "swipe and sign" transactions are not near real, as are ATM transactions. Thus, you get about a day's delay in rates, until the transaction is processed. So, shopping in the afternoon with your Visa card will normally get you the next day's rate. However, the same transaction with a MC will get you today's rate, because of their 9 hour lag to Visa.

Jiu-Jitsu · March 5, 2015

@Jiu-Jitsu; I don't mind

I think, there's a bit too much unnecessary complaining here.

But you say "Why shouldn't the bank/building society be allowed to make money?" The banks make already money by the difference between buying and selling rates. And they have other tools to take the fingers into your wallet (not the subject here). That's the background of my "unnessary complaining". Why should it be justified to take your money for every sh@t they are doing?

If there would be a real competition in the GB-banking-system there would be at least one bank offering completely free (ATM) money transfers without any negative conditions as Schwab in the USA and (online) DKB in Germany for example. The mentioned banks didn't go bankrupt until today.

Banks have a big estomac!

There is real competition. Nationwide's Flex One offers completely free ATM usage worldwide...though you need to be under 18. N&P Gold expects you to actually use the account...which isn't actually too much to ask. Cumberland BS also expects you to use the account, but only charges you £2 per month if you don't.

Metro Bank covers Europe for free and other options allow you to withdraw cash at no charge.

If you still end up paying even with all of these options, the problem is with you, not the banks. They are not your mum. You have to work out how to get the best from them.

I have several options of getting cash out with no fees in Thailand, so why not you?

Jiu-Jitsu · March 5, 2015

@Jiu-Jitsu;

As to ATM charges.......don't use an ATM.

Over the counter withdrawal may only take-away the Thai bank withdrawal charge, home bank may still apply the usual charges. Some bank accounts (in U.S and Germany) provide accounts that allow free overseas ATM withdrawals (both home and overseas bank fee) without conditions. i.e. requirement for a monthly deposit of 500 GBP, or a minimum account balance. Having Free ATM withdrawals dosen't stop anyone from making an over the counter withdrawal (which may also be free with the U.S and German bank accounts). Over the counter is always service with a smile and we just need to take our passport.

cycle the same £500 in and out of the account

This is suitable for anyone who can afford to do this, but what about those who can't. They would get the 5 GBP monthly charge. So, are we gonno put them in the same bracket as

those who would open an account just for holiday usage and such.

Erm....who here has an income of less than £500 per month??

Apart from that....as I have written, there are many free options for getting cash here without fees. So really, give it a rest with the Schwab and DKB. You can even use a Prepaid card to withdraw cash in Thailand with no charges. I've posted about it here before, but I'm not going to keep banging on about it, as soon enough, many will begin to use/abuse and the privilege soon withdrawn.

But I have two cards in my wallet right now that I can use for worldwide fee free withdrawals. So there are options open to you.

Cheesekraft · March 6, 2015

although its a hurdle for most people that they are not willing to look into, its worht mentioning, if you learn to use bitcoin you will pay ~6 cents per transaction regardless of the amount sent/received and it is nstant without any banks or meddling. (I am not recommending investing in it as a speculative asset, rather using it for its intended purpose, to bypass banks extortive fees).

scorecard · March 7, 2015

You mention two banks located in Thailand.

Watch them carefully, one of these banks has a very bad reputation world wide, with no conscience, for outrageous charges and for very aggressive marketing.

The bank I'm thinking of has been barred from operating in two countries.

Suggest you check and explore every detail.

meltingpot2015 · March 9, 2015

There is real competition. Nationwide's Flex One offers completely free ATM usage worldwide...though you need to be under 18. N&P Gold expects you to actually use the account...which isn't actually too much to ask. Cumberland BS also expects you to use the account, but only charges you £2 per month if you don't.

Metro Bank covers Europe for free and other options allow you to withdraw cash at no charge.

If you still end up paying even with all of these options, the problem is with you, not the banks. They are not your mum. You have to work out how to get the best from them.

I have several options of getting cash out with no fees in Thailand, so why not you?

Utter codswallop, Talk about building an argument based on your (mis)-conceptions and biases.

"Metro Bank covers Europe for free and other options allow you to withdraw cash at no charge." - Obviously, this member reckons Thailand is in Europe or he does not know where he is, but decides to become vague, when he realizes that this bank charges fees for withdrawing cash in Thailand.

"Nationwide's Flex One offers completely free ATM usage worldwide...though you need to be under 18." - If we use the members own argument "who here has an income of less than £500 per month??"

Who here is under 18?, in fact, what percentage of a country's population is under 18?, if it is actually a 'privilege" offered to the under 18's, then why is it not available to those on low income as well. (after checking proof of low income).

"N&P Gold expects you to actually use the account...which isn't actually too much to ask." - again lacking details. What is the fee for this account "if you dont use the account". 5 GBP?

"Cumberland BS also expects you to use the account, but only charges you £2 per month if you don't." -

"use the account" - does s(he) mean there should be a minimum deposit made each month?.

Erm....who here has an income of less than £500 per month??

How come s(he) is selectively picking the TV (thaiVisa) community. We are talking about BANKS, banks serve more than the TV community. Banks are more than mere money making machines.

If the member were speaking his/her words, I wonder if s(he) would actually be using their mouth?. Such narrow-mindedness.

You have to work out how to get the best from them.

Is this was true, banking instruments would become so complicated (as they did not so long ago...We know what happened next) that only a select few would comprehend them. Banking instruments (accounts/cards) have to be simple to understand.

Jiu-Jitsu · March 9, 2015

There is real competition. Nationwide's Flex One offers completely free ATM usage worldwide...though you need to be under 18. N&P Gold expects you to actually use the account...which isn't actually too much to ask. Cumberland BS also expects you to use the account, but only charges you £2 per month if you don't.

Metro Bank covers Europe for free and other options allow you to withdraw cash at no charge.

If you still end up paying even with all of these options, the problem is with you, not the banks. They are not your mum. You have to work out how to get the best from them.

I have several options of getting cash out with no fees in Thailand, so why not you?

Utter codswallop, <snip>

You are obviously still sore that you have been exposed for wasting people's time on the other thread.

Now you attempt to hijack this thread in order to do the same.

Also ironic that you criticise me for mentioning products only suitable for TV members and in the same breathe do so again for my mentioning of the Metro Bank products, suitable for European travel.

All of the products above have simple and clear conditions, other than to perhaps, an idiot. Do you have any problems understanding the conditions....or are you just trying to continue your tedious complaint about banking products in general?

meltingpot2015 · May 14, 2015

If you use a non-Thai bank card - normaly a VISA- or a MASTERS - forget all the different bank rates. Oanda and Thai bank rates merely give you a clue about the exchange rate to be expected today. They never match exactly the rates of VISA or MASTERS.

VISA rates are fixed one day in advance of the trading day, very usful. You can google "visa exchange rates" to find the URL.There is only 1 rate for a day. On weekends, the rate is fixed ( on Friday) for 3 days from Saturday until Monday inclusive. To make it complicated, VISA Europe's rates in general don't exactly comply with the US and world rates, but are not very different. Master's exchange rates are fixed on the evening/night of the trading day. That means you don't see them in advance.

The rates for the SWIFT-transfers depend on the receiving bank, in general more than one at a trading day. Therefore there are different rates at the same day in the same bank.

Since the Iron Lady has transformed GB into a more industrial and monetary state she opened the door a little bit too wide for the greedy bankers. It is hard to find a bank in GB giving you fee-free money transfers to Thailand, in contrast to other countrries.

And be happy that the EU restricted VISA and MASTERS to charge higher exchange rates, at least one of the positive results of the EU. Some banks with no direct connection to the receiving bank charge an additional fee for an intermediary (bank). This fee reduces your transfered amount, but you don't see it in your Thai bank account.

BTW, the VISA-exchange rate for today(SUN) and tomorrow (MON) is

1 BRITISH POUND = 49.6497626304 THAI BAHT

Master's exchange rates are fixed on the evening/night of the trading day. That means you don't see them in advance.

Unless you do an ATM pull on Sunday, then the rate at the close of Business on Friday is used. Discovered this with a UK Santander Zero credit card ATM pull.

See related posts below:

http://www.thaivisa.com/forum/topic/776216-clarity-credit-card/#entry9405130

http://www.thaivisa.com/forum/topic/821132-3-credit-card-charge/page-2#entry9405056

topt · May 14, 2015

This may be useful for some - https://supercard.io/?c=MSE_Newsletter_ios&pid=MSE Launched by Travelex with no fees or charges.

Heard about it from Money Saving Expert - not checked if Thailand included .

Extract from the MSE email -

"The Travelex Supercard* launches today, it's a pilot of the first ever free plastic with near-perfect rates in every country - euros, dollars & more: there's no exchange rate fee, no cash withdrawal fee and no credit check, so anyone can get one (you need a smartphone/tablet)."

Jip99 · May 14, 2015

This may be useful for some - https://supercard.io/?c=MSE_Newsletter_ios&pid=MSE Launched by Travelex with no fees or charges.

Heard about it from Money Saving Expert - not checked if Thailand included .

Extract from the MSE email -

"The Travelex Supercard* launches today, it's a pilot of the first ever free plastic with near-perfect rates in every country - euros, dollars & more: there's no exchange rate fee, no cash withdrawal fee and no credit check, so anyone can get one (you need a smartphone/tablet)."

In theory, it is anywhere displaying a Visa symbol.

Looks good, especially for cash, only one downside that I can see:-

Supercard's key advantages over the old winners - top overseas credit cards - are that anyone can get it and it has no ATM fees. Yet it loses in one area - spend via Supercard and you don't get Section 75 protection.

- What is Section 75? Pay for something costing £100 to £30,000 on a credit card and the card firm's jointly liable with the retailer if things go wrong. This is useful abroad, as taking things back is tough. It's also good protection when buying from overseas websites. Full info: Section 75.

Yet you only get this if you pay directly on a credit card, eg, usually PayPal payments aren't covered; debit cards aren't either. Using Supercard, even linked to a credit card, doesn't count.

Jiu-Jitsu · May 14, 2015

^^ What the posts above have missed is whilst the Supercard does not levy charges, the Thai ATM will.

You may be able to get around this with an 'over the counter' withdrawal.

But all of this is a moot point, as the card is no longer open to new applications.

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