Just bought booze at 711 with US Visa Card......

[scottiejohn]

2 minutes ago, KhonKaenKowboy said:

I live by an extremely busy 711, by CMU, and they constantly drop money into the safe...so it takes often takes longer for change...they probably have less than 2000 in their drawers.  Likely store or company policy.  There are robberies around here.  So, I just checked my card...399 THB cost me 11.57 USD...or 34.4857 THB to the Dollar.  Bangkok Bank is paying 34.20 for a 100 USD note...and 34.45 for TT transfer...and I get 1% back on purchases....so only on TV is this a bad thing, but finance  with people whose biggest experience comes from signing for their pension check is a lot like pulling teeth.

I am so glad my life is not so complicated as yours!

I go to a shop and I buy what I want if I believe the price is reasonable.

You must spend more on batteries for your pocket calculator than you think you are saving.

Money is not everything!

Enjoyment  and ease of life is!

[scottiejohn]

8 minutes ago, KhonKaenKowboy said:

So, I just checked my card...399 THB cost me 11.57 USD...or 34.4857 THB to the Dollar.  Bangkok Bank is paying 34.20 for a 100 USD note...and 34.45 for TT transfer

If you live in Thailand why are you quoting/equating everything in dollars! And who quotes the Baht to 4 decimal places.  I thought the Satang was small enough!

[Khon Kaen Dave]

5 minutes ago, scottiejohn said:

That statement make no sense.  As a bar owner if yo buy in bulk you get a discount.  You may sell at the same price!  That is you choice.  BOGOF (Buy One Get One Free)

Ok, it makes sense to me. The reason being is that when you own a bar in Pattaya, you dont buy in bulk because of the risk of theft. Many of the bars that have girls living upstairs are not the most secure places in the world. Now we weren't a couple of 2 or 4 shop units on walking street who had hundreds of customers passing through our doors weekly, or clubs like rehab or insomnia, or the bigger bars on Soi lenkey. We were family bars catering to residents, people who lived on pensions, and couples who wanted a quiet but entertaining evening. We had 4 girls in each bar, we held birthday parties, and we helped out the pensioners when they didnt have enough for an evenings boozing. Our places were well liked and we made money, in fact we sold at the right time and moved to a quieter place.

Now, if the little Thai cammoi knew that we had a bulk of booze in the back room, we would have been robbed on a nightly basis.We bought enough every day to cover our customers, we knew exactly how many and what beers we needed, and how many, vodkas, Bacardies, gins, whiskies etc we needed for a night. The next day we went and paid the retailer and we reordered for the next day.Now do you see what i am saying. But rest assured, if we paid 360 baht for a litre of whiskey, so did the the bigger bars who also used the same wholesaler. Have you ever been in the bar  trade? It would be interesting to know how your handling of stock was carried out. Our retailer did ok out of us we ordered 7 days a week and if we ran out she would willingly open up to give us what we wanted.That service alone was worth what we paid for our booze. You see my friend, when you have a bar, you dont stop at being the boss, you have to consider what people do for you,and that makes it all worth while.

[KhonKaenKowboy]

Another low class pretender, probably had to actually change underwear last June, when the Pound dropped like a bar owner off a balcony.  post was meant as a service to many Visa card holders, also frequent 711.  Then others had to chime in with misinformation..that is why I gave the details.  If your genetics don't allow for precision, then  carry on...I just hope it is not people like you dispensing medications or anything else that requires attention to detail.  

[KhonKaenKowboy]

6 minutes ago, scottiejohn said:

If you live in Thailand why are you quoting/equating everything in dollars! And who quotes the Baht to 4 decimal places.  I thought the Satang was small enough!

About half of us get paid in Dollars....

[muzmurray]

17 hours ago, KhonKaenKowboy said:

If mom and pop knew the difference between beer from last month and beer from last year; they would certainly get more of my business, even without the free flights or 2% cash back, and better exchange rates.

 

Please explain how you get a better exchange rate using an American credit card than you would using local cash?

[Jonmarleesco]

Have to be a lot more than B300 to make it anywhere close to cost effective.

[WinnieTheKhwai]

Overall I think this is great news.  And my main Visa card is to a regular Thai Baht bank account, so there's no exchange rates to debate.

 

 

[HooHaa]

Careful icarus, dont fly so close to the sun.

[bazza73]

1 hour ago, smotherb said:

I prefer to have cash at all times. However, I see no point in keeping money here, so I use my Visa card for cash at ATMs--for better security, I use ATMs at banks. My bank never charges a fee, all local bank fees are reimbursed, the card is chip protected, I am reimbursed for any disputes, and the exchange rate is the daily FOREX rate. Of course, there is a minimum deposit, but it draws competitive interest.   Depends upon whether your financial institution is using you or vice versa. 

Apart from skimming at ATM's, the technology for scammers has become so sophisticated they can read your card data while brushing past you in a crowded supermarket. Unless you carry your cards in a metal wallet designed to thwart data hijacking.

 

The Thai bank savings book is basically scam-proof. You need the bank book and your passport to make a withdrawal. On top of that, you have to sign the withdrawal slip in front of the bank teller. I can't see a scammer getting over those hurdles.

 

[TallGuyJohninBKK]

8 hours ago, davidst01 said:

All of the credit card companies are going to charge you expensive exchange rates guaranteed. When you see the bill in usd convert that back to thai using bloomberg currency calculator. Then you will cry about how expensive your booze was

 

That's a bit of an over-generalization.

 

Every card-issuing bank sets their own policies as to whether or not they have extra fees for using the card outside your home (card-issuing) country.

 

I have plenty of U.S. credit cards that have ZERO foreign currency fee or any other extra charges for using abroad.

 

However, it's also true that most of the mega banks in the U.S. (BofA, Chase, Wells Fargo, etc.) offer credit cards that have 3% or so surcharges when those cards are used abroad.  But those cards aren't the entire universe of available credit cards. You just have to choose your cards wisely.

 

[KhonKaenKowboy]

37 minutes ago, muzmurray said:

 

Please explain how you get a better exchange rate using an American credit card than you would using local cash?

Maybe you should think before posting and you won't embarrass yourself, as often.  Is it peculiar that persons in an English language forum, in a EFL country would be using their own currency?  And with the US representing 3/4 of the wealth of English speaking countries...is it a surprise that many here are using Dollars in one form or another?

[TallGuyJohninBKK]

6 hours ago, Dan5 said:

I've been using credit cards every day in Thailand for many years and never had a problem. Don't know that you are more likely to have a problem here than in the USA.

I think a lot has to do with WHERE you use the cards inside Thailand.

 

I've used mine for years with all assortment of major retailers here, and never had any hacking/cloning problems.

 

But if you use the card at someplace where the staff are shady/crooks, then you have the potential for problems.

 

Fortunately for Americans, at least, VISA cards issued in the U.S. have a VISA backed zero fraud liability policy (even when the card is used outside the U.S.)  So a U.S. issued VISA card with no foreign currency fee is an excellent/safe card to use in Thailand. VISA cards issued in other countries may or may not have that same fraud liability protection.

 

For example, VISA cards issued by the banks in Thailand do NOT have that same zero fraud liability policy, either from VISA or from the Thai government.

 

[smotherb]

12 minutes ago, bazza73 said:

Apart from skimming at ATM's, the technology for scammers has become so sophisticated they can read your card data while brushing past you in a crowded supermarket. Unless you carry your cards in a metal wallet designed to thwart data hijacking.

 

The Thai bank savings book is basically scam-proof. You need the bank book and your passport to make a withdrawal. On top of that, you have to sign the withdrawal slip in front of the bank teller. I can't see a scammer getting over those hurdles.

 

I would rather not have my money in Thailand thank you. I want the convenience of getting cash anywhere and anytime I like; especially without charge and at the Forex rate. I dislike going into banks or any other formality that amount to wasting my time at their hours. As I said, I get reimbursed for any disputes, even if I have not reported it first.  And, I have used that same financial institution for acquiring cash for 50 years in Asia without a loss--had a few false charges, but was always reimbursed. So, I think I'll continue doing it my way; your way sounds too cumbersome and depends far too much on a Thai system.  

[TallGuyJohninBKK]

55 minutes ago, KhonKaenKowboy said:

 

KKK, how exactly did your 7/11 process your credit card payment?

 

Did they take your card and swipe it?

 

Did they have you swipe it thru their machine.

 

Or hopefully even better, they're using a chip-enabled terminal where they just insert the card (as opposed to swiping the magnetic strip), and the terminal reads the computer chip on the card to confirm it's a legitimate card?

 

Did you have to sign the credit card receipt, or did they just hand you the completed receipt?  (These days, with the advent of chipped cards, a lot of Thai retailers no longer require signatures for purchase amounts that are smaller (in the hundreds of baht, as opposed to thousands).

 

Since they're starting out with a new purchase payment method here, hopefully 7/11 Thailand opted for a modern, secure card reading method.

 

[bazza73]

Just now, smotherb said:

I would rather not have my money in Thailand thank you. I want the convenience of getting cash anywhere and anytime I like; especially without charge and at the Forex rate. I dislike going into banks or any other formality that amount to wasting my time at their hours. As I said, I get reimbursed for any disputes, even if I have not reported it first.  And, I have used that same financial institution for acquiring cash for 50 years in Asia without a loss--had a few false charges, but was always reimbursed. So, I think I'll continue doing it my way; your way sounds too cumbersome and depends far too much on a Thai system.  

I don't think I ever said all my money was in Thailand. In fact, about 85% of it at last count is in Australia. I transfer enough for six months' expenses at a time from there.

I pay for everything in cash here, which suits me. I just draw cash to cover expenses once a month, so I don't find it cumbersome. Each to his own.

[KhonKaenKowboy]

Johnson, she aanded it to the guy at next register....they have small machines very similar to Tesco.  I do not know if it was inserted or swiped.  It was quite fast...had the slip to sign in front of me in about four seconds.  I just looked at my receipt..and it doesn't say Kasikorn Bank like many do, it says Thai Smart Card....so it looks like they just expanded the capabilities of that system.  Questions:  can I pay my electric bill with it?  Can I pay for AirAsia tickets with simply the 711 fee and not their very high visa fee?

[smotherb]

Just now, bazza73 said:

I don't think I ever said all my money was in Thailand. In fact, about 85% of it at last count is in Australia. I transfer enough for six months' expenses at a time from there.

I pay for everything in cash here, which suits me. I just draw cash to cover expenses once a month, so I don't find it cumbersome. Each to his own.

I never mentioned your money.  All the money I have in Thailand I just got out of the ATM.  I draw cash sometimes two or three times a day; my wife also draws cash as she likes. Sorry, it is obvious your methods do not suit me. 

[TallGuyJohninBKK]

41 minutes ago, bazza73 said:

Apart from skimming at ATM's, the technology for scammers has become so sophisticated they can read your card data while brushing past you in a crowded supermarket. Unless you carry your cards in a metal wallet designed to thwart data hijacking.

 

 

There are quite a few different ways to protect chipped cards against scanning, including things as simple as carrying your wallet in your front pocket or placing foil wrapped cardboard cards in your wallet.

 

A lot of good info in the following article:

 

http://www.wikihow.com/Keep-RFID-Credit-Cards-Safe

[55Jay]

 

2 hours ago, scottiejohn said:

<SNIP>The time difference to process a credit/debit card versus 1000 Baht cash is infinitesimal!  Whether the note proffered is 100 or 1000 Baht the cashier/server will always count the change out the same number of times. About the same as the Card reader! <SNIP>

I agree, presuming there's no internet/transmission or server bounces at that time. 

 

Not too bad with fast cashiers but for some of the not so fast ones, and in addition to your point about possibly counting change more than once, you also need to factor in:

 

- Time they spend fiddling about with those stupid little stamps if there's a promo on.

- Then they hand you EVERYTHING at once - bills, coins, some of those stupid stamps and a receipt! 

- You put down your wallet and items (if only 1 or 2).

- Get the receipt out of the neat mess, ask the cashier to throw in the bin while trying not to look like a schmuck dumping coins all over the counter.

- Maybe count the change again yerself

- Put the coins and little farkin' stamps in your pocket so your wife can find them later after shorts/pants go through the washing machine.

- Open wallet and put bills away, making sure they are all in proper denomination and color code order.

- Collect your stuff and leave.

 

* Additional random delay factor with cash is, due to too many farang boneheads buying 7 Baht water bottles with 1,000 Baht bills, cashier runs out of change, and has to sort that out too..... 

 

Meanwhile, guy with a Visa card is waiting patiently, tapping card on his palm.

Edited April 8, 2017 by 55Jay

[TallGuyJohninBKK]

22 minutes ago, KhonKaenKowboy said:

  Can I pay for AirAsia tickets with simply the 711 fee and not their very high visa fee?

 That's a very interesting question!

 

My wife purchases Air Asia tickets all the time, and often pays for them with counter service at 7/11... where there's a small fee.

 

If Air Asia tickets could be purchased via Visa cards at 7/11 without AA's own high credit card use fee, that would be great!

 

[NanLaew]

1 hour ago, KhonKaenKowboy said:

....so only on TV is this a bad thing, but finance  with people whose biggest experience comes from signing for their pension check is a lot like pulling teeth.

Strike one...

 

1 hour ago, KhonKaenKowboy said:

Another low class pretender, probably had to actually change underwear last June, when the Pound dropped like a bar owner off a balcony.  post was meant as a service to many Visa card holders, also frequent 711.  Then others had to chime in with misinformation..that is why I gave the details.  If your genetics don't allow for precision, then  carry on...I just hope it is not people like you dispensing medications or anything else that requires attention to detail.  

Strike two...

 

54 minutes ago, KhonKaenKowboy said:

Maybe you should think before posting and you won't embarrass yourself, as often.  Is it peculiar that persons in an English language forum, in a EFL country would be using their own currency?  And with the US representing 3/4 of the wealth of English speaking countries...is it a surprise that many here are using Dollars in one form or another?

...and the inevitable strike 3. Once again KKK gets all gobby and ends up thread f*cking his own thread.

[wolfmuc]

20 hours ago, KhonKaenKowboy said:

If mom and pop knew the difference between beer from last month and beer from last year; they would certainly get more of my business, even without the free flights or 2% cash back, and better exchange rates.

I know this problem very well in my small village. Old/heated beer is disgusting.

But may be you should inform them about your preferences and keep on

being a frequent customer? Good luck!

 

[elektrified]

9 hours ago, Dan5 said:

I've been using credit cards every day in Thailand for many years and never had a problem. Don't know that you are more likely to have a problem here than in the USA.

I've used my credit cards in Thailand almost every day for 10 years and never had a problem.

[scottiejohn]

15 hours ago, Khon Kaen Dave said:

Have you ever been in the bar  trade? It would be interesting to know how your handling of stock was carried out.

Yes I have and obviously on a much bigger scale than you have described you were dabbling at!

This is not the place to tell an expert like you how to bulk buy and have secure stock rooms.

[Khon Kaen Dave]

10 minutes ago, scottiejohn said:

Yes I have and obviously on a much bigger scale than you have described you were dabbling at!

This is not the place to tell an expert like you how to bulk buy and have secure stock rooms.

Oh thank you, font of all knowledge, And i bow in the presence of an entrepreneur with far more experience and a far bigger business than my pitiful attempt.dabbling?? Ahh, of course, but my dabbling has allowed me a lifestyle that some can never attain here.How long was it before you had to close down due to lack of customers due to the tourist decline, and your wonderful  relationship with your customers that you had.By your attitude, it would appear that you didnt last very long

 c'est la vie.

[scottiejohn]

4 minutes ago, Khon Kaen Dave said:

Oh thank you, font of all knowledge, And i bow in the presence of an entrepreneur with far more experience and a far bigger business than my pitiful attempt.dabbling?? Ahh, of course, but my dabbling has allowed me a lifestyle that some can never attain here.How long was it before you had to close down due to lack of customers due to the tourist decline, and your wonderful  relationship with your customers that you had.By your attitude, it would appear that you didnt last very long

 c'est la vie.

You just love jumping to totally unjustifiable conclusions don't you! 

There is no point in trying to carry out any form of discussion with anyone like you who has such preconceived and unjustified opinions about others.

 

[bazza73]

16 hours ago, smotherb said:

I never mentioned your money.  All the money I have in Thailand I just got out of the ATM.  I draw cash sometimes two or three times a day; my wife also draws cash as she likes. Sorry, it is obvious your methods do not suit me. 

Well, lining up at an ATM two or three times a day would not suit me either. Unless you have perfected the art of meeting chicks in those locations.

[happyas]

28 minutes ago, bazza73 said:

Well, lining up at an ATM two or three times a day would not suit me either. Unless you have perfected the art of meeting chicks in those locations.

                                             

[smotherb]

2 hours ago, bazza73 said:

Well, lining up at an ATM two or three times a day would not suit me either. Unless you have perfected the art of meeting chicks in those locations.

I don't line-up at ATMs. For one thing, I never wait until I run out of money so I can function until I find an open line. For another, I usually send the wife for the money. If she is not with me and there is a line at an ATM, I go on to the next one--there are thousands of them and remember, I still have money. As for chicks, there are thousands of them too.