Best UK bank for Thai visitors

[paulbj]

This has some useful info. It looks like the service I use at the moment, Transferwise, comes out pretty well in their comparisons.

http://www.moneysavingexpert.com/banking/foreign-currency-exchange

[Kwasaki]

Yes Siam bank charges 180 bath for using the FD UK debit a/c card e.g. 20,180 is taken and I get 20,000 and other banks take 200.

So SIAM(which exactly?) charges you 180 baht for an over the counter withdrawal(not good, but I suppose they claim that it is because it is a debit card and not a credit card) and subsequently FD just treat it as a purchase, so no ATM withdrawal charge but their 2.75% foreign exchange fee.

So on £500, it is costing you £13.75 + 180 baht(£3.60). A total of £17.35 per withdrawal.

The maximum of £5 that you read somewhere has to do with the FD ATM charge if you withdrew using an ATM. In this case you would also incur the FD ATM charge of 2%(up to a max of £5).

Didn't you claim 140 on the IQ test? Just teasing.

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

Edited February 26, 2016 by Kwasaki

[elprid]

True

[i claudius]

I use nationwide,very helpful when I had a problem ,also metro are good h.s.b.c now let me see how can I describe them without it getting deleted?

[Jiu-Jitsu]

Yes Siam bank charges 180 bath for using the FD UK debit a/c card e.g. 20,180 is taken and I get 20,000 and other banks take 200.

So SIAM(which exactly?) charges you 180 baht for an over the counter withdrawal(not good, but I suppose they claim that it is because it is a debit card and not a credit card) and subsequently FD just treat it as a purchase, so no ATM withdrawal charge but their 2.75% foreign exchange fee.

So on £500, it is costing you £13.75 + 180 baht(£3.60). A total of £17.35 per withdrawal.

The maximum of £5 that you read somewhere has to do with the FD ATM charge if you withdrew using an ATM. In this case you would also incur the FD ATM charge of 2%(up to a max of £5).

Didn't you claim 140 on the IQ test? Just teasing.

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

If you are happy with that, then you need do nothing. But with the right plastic, you would have got the rate with no non sterling transaction fee and possibly no need to use that dodgy bank that charges you 180 baht for a cash advance.

I do exactly what you do, but use another Thai bank and different UK cards and pay no charges whatsoever.

An alternative for you would be if you still have dependable family in the UK. They could apply and send you the card.

[Kwasaki]

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

If you are happy with that, then you need do nothing. But with the right plastic, you would have got the rate with no non sterling transaction fee and possibly no need to use that dodgy bank that charges you 180 baht for a cash advance.

I do exactly what you do, but use another Thai bank and different UK cards and pay no charges whatsoever.

An alternative for you would be if you still have dependable family in the UK. They could apply and send you the card.

I am not really happy with it but over the years being here at 2008 crash it changed things I don't have a lot of choice.

I use to be with Nationwide UK and using the Thai ATM's everything was free.

My daughter is BA air cabin crew so to get my daughter to do it for me is possible because she flies everywhere but with who to applied, from the read I take it is Halifax Building Society.

[Jiu-Jitsu]

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

If you are happy with that, then you need do nothing. But with the right plastic, you would have got the rate with no non sterling transaction fee and possibly no need to use that dodgy bank that charges you 180 baht for a cash advance.

I do exactly what you do, but use another Thai bank and different UK cards and pay no charges whatsoever.

An alternative for you would be if you still have dependable family in the UK. They could apply and send you the card.

I am not really happy with it but over the years being here at 2008 crash it changed things I don't have a lot of choice.

I use to be with Nationwide UK and using the Thai ATM's everything was free.

My daughter is BA air cabin crew so to get my daughter to do it for me is possible because she flies everywhere but with who to applied, from the read I take it is Halifax Building Society.

Best would be the Halifax Clarity, but of course it would be in your daughter's name, so you could only use it for ATM withdrawals. On the positive side, you would only be charged the Thai ATM fee. No forex charges at all from the Clarity. On the negative side, in order to avoid interest it would be advisable to cover the payment as soon as it shows up on her online Clarity account. You can do that easily from your FD account. That's it.

The only fee will be the Thai ATM fee of around £4.

Alternative card would be the Creation Everyday.

If she can add you as an additional cardholder, you'll have your own card that you can use for over the counter cash advances, with no fees at all.

So no need for her to open a bank account. Just either of those credit cards will do and if she can add you as an additional cardholder, that will be a bonus.

[loppylugs1]

Halifax,which is owned by Lloyds I will probably switch,just for the £125 and the £9.50 A Bank to Bank(K Bank) transfer would be OK and the exchange rates Halifax use are excellent

[Jiu-Jitsu]

Halifax,which is owned by Lloyds I will probably switch,just for the £125 and the £9.50 A Bank to Bank(K Bank) transfer would be OK and the exchange rates Halifax use are excellent

First of all, it only costs £4 for a transfer with HSBC. So cheaper than the Halifax. In addition, they wouldn't be sending a new card out either. So moving to the Halifax is no solution. Of course the £125 for switching is a decent incentive and choosing the Reward Account could net one more cash.

As for using Halifax rates to transfer...that would be dopey, as of course you should transfer in Pounds and utilise the TT rate in Thailand.

[Bantex]

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

If you are happy with that, then you need do nothing. But with the right plastic, you would have got the rate with no non sterling transaction fee and possibly no need to use that dodgy bank that charges you 180 baht for a cash advance.

I do exactly what you do, but use another Thai bank and different UK cards and pay no charges whatsoever.

An alternative for you would be if you still have dependable family in the UK. They could apply and send you the card.

I am not really happy with it but over the years being here at 2008 crash it changed things I don't have a lot of choice.

I use to be with Nationwide UK and using the Thai ATM's everything was free.

My daughter is BA air cabin crew so to get my daughter to do it for me is possible because she flies everywhere but with who to applied, from the read I take it is Halifax Building Society.

Best would be the Halifax Clarity, but of course it would be in your daughter's name, so you could only use it for ATM withdrawals. On the positive side, you would only be charged the Thai ATM fee.

If your daughter applied for a Halifax Clarity card, she could also get an additional card in your name linked to the same account and you would have full use of the credit card facilities. If you intended to make cash withdrawals at ATM's, you would be charged cash advance interest which is higher than the normal interest rate but if you pre-loaded the card with cash, no cash advance interest can be levied. The account can be accessed online and it has good security features.

[Jiu-Jitsu]

Siam Commercial Bank charge 180 bath for ATM foreign cards and inside bank withdrawals at the moment.

Using my UK First Direct credit card at ATM or in bank costs me more in charges for cash.

What I do is get the near rate on the day so 500 x whatever and ask for x bath amount in bank.

Early Jan '16 got 26,000 bath.....charge 26,180 @ 53.6816 rate....statement UK = 487 + non transaction fee = 13.40.

got 140 IQ doing an online quiz thing it was easy and a bit daft really from what I remember and for fun put it here on profile.

Many moons ago I was accessed as average but still feel a superior alien.

If you are happy with that, then you need do nothing. But with the right plastic, you would have got the rate with no non sterling transaction fee and possibly no need to use that dodgy bank that charges you 180 baht for a cash advance.

I do exactly what you do, but use another Thai bank and different UK cards and pay no charges whatsoever.

An alternative for you would be if you still have dependable family in the UK. They could apply and send you the card.

I am not really happy with it but over the years being here at 2008 crash it changed things I don't have a lot of choice.

I use to be with Nationwide UK and using the Thai ATM's everything was free.

My daughter is BA air cabin crew so to get my daughter to do it for me is possible because she flies everywhere but with who to applied, from the read I take it is Halifax Building Society.

Best would be the Halifax Clarity, but of course it would be in your daughter's name, so you could only use it for ATM withdrawals. On the positive side, you would only be charged the Thai ATM fee.

If your daughter applied for a Halifax Clarity card, she could also get an additional card in your name linked to the same account and you would have full use of the credit card facilities. If you intended to make cash withdrawals at ATM's, you would be charged cash advance interest which is higher than the normal interest rate but if you pre-loaded the card with cash, no cash advance interest can be levied. The account can be accessed online and it has good security features.

I already advised about the additional card. Preloading the card breaches their T&C.

Cash advance and Purchase interest rate is exactly the same. Though of course you get the usual interest free period for purchases.

From their T&C:

Credit cards are not designed to be used this way. Using the card in this way breaches the product's Terms & Conditions, which state:

You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money was sent.

Edited February 26, 2016 by Jiu-Jitsu

[Kwasaki]

Best would be the Halifax Clarity, but of course it would be in your daughter's name, so you could only use it for ATM withdrawals. On the positive side, you would only be charged the Thai ATM fee. No forex charges at all from the Clarity. On the negative side, in order to avoid interest it would be advisable to cover the payment as soon as it shows up on her online Clarity account. You can do that easily from your FD account. That's it.

The only fee will be the Thai ATM fee of around £4.

Alternative card would be the Creation Everyday.

If she can add you as an additional cardholder, you'll have your own card that you can use for over the counter cash advances, with no fees at all.

So no need for her to open a bank account. Just either of those credit cards will do and if she can add you as an additional cardholder, that will be a bonus.

Many thanks for that I get her to go Creation card with me in addition.

[Jiu-Jitsu]

Best would be the Halifax Clarity, but of course it would be in your daughter's name, so you could only use it for ATM withdrawals. On the positive side, you would only be charged the Thai ATM fee. No forex charges at all from the Clarity. On the negative side, in order to avoid interest it would be advisable to cover the payment as soon as it shows up on her online Clarity account. You can do that easily from your FD account. That's it.

The only fee will be the Thai ATM fee of around £4.

Alternative card would be the Creation Everyday.

If she can add you as an additional cardholder, you'll have your own card that you can use for over the counter cash advances, with no fees at all.

So no need for her to open a bank account. Just either of those credit cards will do and if she can add you as an additional cardholder, that will be a bonus.

Many thanks for that I get her to go Creation card with me in addition.

Once up and running, when the transaction appears on the online account,(usually within one or two days) cover it with a Faster Payment from your FD account. Don't wait for a statement to be produced before you pay. This way you prevent any interest accruing on cash withdrawals.

In addition, have a Direct Debit set up for Full Payment on the account. This is for just in case there are a few pennies of interest incurred on any given month. You don't want there to be any issues of late payment on the account, even for £0.01p.

Personally, my first choice would have been the Halifax Clarity. I'm not sure why you choose the Creation Everyday in preference to it.

Clarity has an ATM withdrawal limit of £500. Creation Everyday, £300. Likely this will affect the amount available over the counter.

[Kwasaki]

@ Jiu-Jitsu.

Choose Creation Everyday in preference because no need for my daughter to open another bank account, 300 quid OK and I have no problem with counter withdrawals with no fees at all.

[Jiu-Jitsu]

@ Jiu-Jitsu.

Choose Creation Everyday in preference because no need for my daughter to open another bank account, 300 quid OK and I have no problem with counter withdrawals with no fees at all.

You don't need to bank with the Halifax to apply for the Clarity. Did you see any reference to such criteria? http://www.halifax.co.uk/creditcards/clarity-card/

In fact there is someone on the board who complains about being with them for more than fifteen years and was rejected.

Interesting to note that Halifax have changed their headline rate from 12.9% to 18.9%. Of course little or no impact on those who don't pay any interest anyway.

Edited March 2, 2016 by Jiu-Jitsu