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Credit card query

Featured Replies

When using my credit card in Thailand I am always asked whether I want to pay in US dollars or baht. Any advantages or disadvantages one way or the other?

If you agree to USD it will cost you more, have a search of "dynamic currency conversion".

Huge difference - you always want to pay in local currency.  Look up Dynamic currency conversion.  When you use that you get a very bad exchange rate here (so local banks make money) and you may still have to pay foreign usage fee to your home country bank making it even worse.

 

Edit:  changed misinformation - sorry - you pay your card in home country money but they pay local change in baht at official exchange rate for card used.

 

The key is not to accept any payment slip that lists payment in $.  They can be very sneaky about this but have no right to change in anything but local currency if that is your choice.

Edited by lopburi3

On 11/29/2016 at 10:58 AM, Langsuan Man said:

Just for example I was recently hospitalized at Pattaya International Hospital and at first the cashier rang up the 50,000 THB  "deposit" using the DCC rate which came out on the receipt as USD $1,522.87

 

I of course told her to void it out and do it again in Thai Baht like I told her to in the first place.  The Thai Baht rate ended up converting to   $1,427.76 on my credit card statement,  a difference of $95.11,  so refusing DCC is definitely worth the trouble

 

US Capital One card with no overseas conversion fees 

22 hours ago, lopburi3 said:

Huge difference - you always want to pay in local currency.  Look up Dynamic currency conversion.  When you use that you get a very bad exchange rate here (so local banks make money) and you may still have to pay foreign usage fee to your home country bank making it even worse.

 

Edit:  changed misinformation - sorry - you pay your card in home country money but they pay local change in baht at official exchange rate for card used.

 

The key is not to accept any payment slip that lists payment in $.  They can be very sneaky about this but have no right to change in anything but local currency if that is your choice.

 

Absolutely correct, it is not the local merchant who makes money on this but the bank

 

I generally have a dislike of banks, they are never happy

They do not like to lend in the beginning

They do not like if you repay early

tThey do not like if you repay late

 

They are a little like any bad woman, fortunately today I have a good woman and long may it last

 

Happy Christmas

<When using my credit card in Thailand I am always asked whether I want to pay in US dollars or baht. Any advantages or disadvantages one way or the other?>

 

1. request payment THB only (explained already in this thread)

2. you are the Lucky One in a million "...I am always asked..." coz for me I am NEVER asked! and even though I tell the lass I want to be charged in THB only she still hammers out the foreign currency. Which is of course to her disadvantage because she has to rewind the hole thing, re- credit my card, debit me again. Always sheer delight for the other customers queuing behind - but stupidity has its price.

20 hours ago, thurien said:

<When using my credit card in Thailand I am always asked whether I want to pay in US dollars or baht. Any advantages or disadvantages one way or the other?>

 

1. request payment THB only (explained already in this thread)

2. you are the Lucky One in a million "...I am always asked..." coz for me I am NEVER asked! and even though I tell the lass I want to be charged in THB only she still hammers out the foreign currency. Which is of course to her disadvantage because she has to rewind the hole thing, re- credit my card, debit me again. Always sheer delight for the other customers queuing behind - but stupidity has its price.

 

I solve that problem by saying Thai Baht as I hand them my card,  not even giving them the chance to ask.  Only push it if I get the deer in the headlight look 

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