Nationwide Card Exchange Rates

[topfield]

Just tested the N/W baht/pound rate with local Bkk ATM (small amount) timed 11am 2 January 07

Rate with Debit card ( Visa) 70.42

Rate with Cash card (Mastercard ) 69.34

Yahoo Finance rate 69. 64

NB These are the immediate deduction/retention rates as shown on online statement but usually are the ones used when one's online definitive statement comes through 12-18 hours later but can vary a little (hence the test).

If the definitive rate comes out in fact at 70.42 its a ###### bargain but by then will be too late to make a large withdrawal as rates will have changed !

Edited January 2, 2007 by topfield

[libya 115]

Just tested the N/W baht/pound rate with local Bkk ATM (small amount) timed 11am 2 January 07

Rate with Debit card ( Visa) 70.42

Rate with Cash card (Mastercard ) 69.34

Yahoo Finance rate 69. 64

NB These are the immediate deduction/retention rates as shown on online statement but usually are the ones used when one's online definitive statement comes through 12-18 hours later but can vary a little (hence the test).

If the definitive rate comes out in fact at 70.42 its a ###### bargain but by then will be too late to make a large withdrawal as rates will have changed !

How much can you withdraw per day with a N/W ATM card?

Am I correct in thinking that the said 'bargain' is 0.87 THB per GBP?

I estimate that you stand to gain 200-300 baht. Well done! The beers are on you!

Edited January 2, 2007 by libya 115

[BIGTOE3]

Just tested the N/W baht/pound rate with local Bkk ATM (small amount) timed 11am 2 January 07

Rate with Debit card ( Visa) 70.42

Rate with Cash card (Mastercard ) 69.34

Yahoo Finance rate 69. 64

NB These are the immediate deduction/retention rates as shown on online statement but usually are the ones used when one's online definitive statement comes through 12-18 hours later but can vary a little (hence the test).

If the definitive rate comes out in fact at 70.42 its a ###### bargain but by then will be too late to make a large withdrawal as rates will have changed !

How much can you withdraw per day with a N/W ATM card?

Am I correct in thinking that the said 'bargain' is 0.87 THB per GBP?

I estimate that you stand to gain 200-300 baht. Well done! The beers are on you!

Hi I use N/W and can take 25,000 a day. Have single and joint account with G/F so with internet banking do transfer and 50,000 up to max of 60,000 available per day.

I hope this helps.

BT

[taxexile]

just seen on bloomberg that george soros and donald trump have applied for n/w debit cards.

"topfields revelations have turned the world of mega finance upside down , its a ###### bargain , better get using it before its too late" g. soros

"topfields revelations have turned the world of mega finance upside down , its a ###### bargain , better get using it before its too late" d. trump

"who the f#ck is topfield" hiram z rockefella II

[libya 115]

Hi I use N/W and can take 25,000 a day.

BT

________________________________________

So that is 0.87 * 25,000 = 310 baht (maximum)

Topfield; are you seriously so passionate about exchange rates?

The sums that you always describe (either positive or negative) are always tiny and insignificant, to the average Joe Soap here in Thailand, just using an ATM for every-day living expenses.

I commend your enthusiasm, and attention to detail, but I feel that you talents are wasted. I think that you might have good potential career opportunities in antiques etc.

Are you that bloke off the telly, who hosts bargain hunt? Or do you write for 'Money Mail' on a Wednesday?

[RAZZELL]

just seen on bloomberg that george soros and donald trump have applied for n/w debit cards.

"topfields revelations have turned the world of mega finance upside down , its a ###### bargain , better get using it before its too late" g. soros

"topfields revelations have turned the world of mega finance upside down , its a ###### bargain , better get using it before its too late" d. trump

"who the f#ck is topfield" hiram z rockefella II

PMSL

[oxymoron]

Hi I use N/W and can take 25,000 a day.

BT

________________________________________

So that is 0.87 * 25,000 = 310 baht (maximum)

Topfield; are you seriously so passionate about exchange rates?

The sums that you always describe (either positive or negative) are always tiny and insignificant, to the average Joe Soap here in Thailand, just using an ATM for every-day living expenses.

I commend your enthusiasm, and attention to detail, but I feel that you talents are wasted. I think that you might have good potential career opportunities in antiques etc.

Are you that bloke off the telly, who hosts bargain hunt? Or do you write for 'Money Mail' on a Wednesday?

Yep could not agree more.

Also all the ATM's I use here in LOS will only max out at 20,000 per pull, and my bank charges $12 use of non ATM fee, dont know about Nation, (approx 350Baht) so 4 me to get 25000 Baht it costs 700- topfields 310, so I am down the drain by 390.

[Crossy]

A couple of points for the uninitiated:-

If you use a Bangkok Bank machine you can get 25,000 Baht per transaction (25 bills).

A Nationwide card can be used for as many transactions of 25,000 per day as you want until you reach your daily card limit (mine is 650 Quid)

You can get up to your card limit in a single transaction if you go inside the bank and use a cashier (you may be able to get more, never tried).

And with NW there is no punitive transaction charge, and I've always found the exchange rate to be pretty competitive.

EDITED for spellong

Edited January 3, 2007 by Crossy

[Rinrada]

A couple of points for the uninitiated:-

If you use a Bangkok Bank machine you can get 25,000 Baht per transaction (25 bills).

A Nationwide card can be used for as many transactions of 25,000 per day as you want until you reach your daily card limit (mine is 650 Quid)

You can get up to your card limit in a single transaction if you go inside the bank and use a cashier (you may be able to get more, never tried).

And with NW there is no punitive transaction charge, and I've always found the exchange rate to be pretty competitive.

EDITED for spellong

and if you do go into you local friendly bank and have them swipe your card for either the 400k (married) /800k visa requirements then they will register it as an imported transaction for said extended Non Immi V purposes....and all with no ATM / fees involved....but only with the Flexi-Debit card ...

also if you have any dosh left in your a/c by that time you can check your balance (in Baht) at the local EXc rates....

[BIGTOE3]

[A couple of points for the uninitiated:-

If you use a Bangkok Bank machine you can get 25,000 Baht per transaction (25 bills).

A Nationwide card can be used for as many transactions of 25,000 per day as you want until you reach your daily card limit (mine is 650 Quid)

You can get up to your card limit in a single transaction if you go inside the bank and use a cashier (you may be able to get more, never tried).

And with NW there is no punitive transaction charge, and I've always found the exchange rate to be pretty competitive.

EDITED for spellong

"""and if you do go into you local friendly bank and have them swipe your card for either the 400k (married) /800k visa requirements then they will register it as an imported transaction for said extended Non Immi V purposes....and all with no ATM / fees involved....but only with the Flexi-Debit card ..."""

I wished I had know that they WOULD TRANSFER into local Bank and register as " Imported funds" for Visa as I have just sent k£12 through Royal Bank and I WILL have charges.... I do not know how much yet.

Do you simply ASK them to register as "imported funds " ?

Thanks

BT

[MartinBKK]

I have a nationwide debit and card and i have been told that i can withdraw a maximum of £300 per 24 hr period or currency equivilent. I have actually tested this out at the ATM and sometimetimes i have been able to withdraw $20000 in a day and other times ive only been able to get $18000. This has depended on the exchange rate as to whether it has exceeded the limit of £300.

I also asked for this to be increased and was told that this limit is fixed for all customers regardless of their financial standing with the bank. If someone else has a different limit (for certain) i would be very interested to hear about it.

[topfield]

I have a nationwide debit and card and i have been told that i can withdraw a maximum of £300 per 24 hr period or currency equivilent. I have actually tested this out at the ATM and sometimetimes i have been able to withdraw $20000 in a day and other times ive only been able to get $18000. This has depended on the exchange rate as to whether it has exceeded the limit of £300.

I also asked for this to be increased and was told that this limit is fixed for all customers regardless of their financial standing with the bank. If someone else has a different limit (for certain) i would be very interested to hear about it.

Info above correct .

However if withdrawal by cashier inside the bank (using swipe) limit is not imposed by N/W but the bank itself.

Please be aware the exchange rate inside the bank is quite different and usually less favourable than the ATM rate.

[loong]

and if you do go into you local friendly bank and have them swipe your card for either the 400k (married) /800k visa requirements then they will register it as an imported transaction for said extended Non Immi V purposes....and all with no ATM / fees involved....but only with the Flexi-Debit card ...

also if you have any dosh left in your a/c by that time you can check your balance (in Baht) at the local EXc rates....

I knew that you could withdraw inside the bank, but assumed that the 20,000 daily limit still appld. This is news to me and very usefull infi. Have you ever actually drawn such a large sum?

Other people have reported that they can check their N/W balance at ATM, but I have never had a balance show on my ATM receipt.

Other UK banks charge a typical 1.5% handling fee as well as a lower exchange rate than the Nationwide.

2 years ago, I bought a motorbike and withdrew from N/W and LLoyds at the same time. I got 4% more from the n/w when taking the fee into account. That's a big difference

[briley]

I have used nationwide to transfer 70K baht at a time to my bangkok bank account but getting the 'ftt' stamp has proved problematic at times.

I am aware of someone transferring many 100K (about 650,000 baht I think) in one, over the counter transfer and this is not apocryphal.

PS The exchange rate at the ATM was 71.551 and over the counter was 71.671 - but that was not the exchange rate quoted by the counter staff when they swiped the card. The ATM was made about 5 minutes after the over the counter transaction.

I don't consider a few setang on the exchange rate a problem.

Edited January 4, 2007 by briley

[Crossy]

I also asked for this to be increased and was told that this limit is fixed for all customers regardless of their financial standing with the bank. If someone else has a different limit (for certain) i would be very interested to hear about it.

I will verify exactly what my limit is, but is is certainly sufficient to get 30,000 in any one day

I will say I have had this account / card for many years so it's possible that I'm grandfathered into an old rule set.

[JohnC]

I am confused (not unusual at my age) I also have a N/W flexi card and I am limited to £300 per day via atm so every month I have to make numerous trips to the bank to draw out my monthly living expenses. If I understand the above posts correctly I can go into my bank here (Bangkok Bank) and present my card to the cashier and have transfered an amount in excess of the £300, is this correct? Before leaving the uk I was informed by the bank that to transfer to a foreign bank I had to complete and sign a bank form (cant remember the name of it|) I have done this via fax from los but it cost me £20 !! in bank charges.

On the plus side I only need to draw enough for my immediate needs therefore I have no large sums of money lying in a Thai bank should things go bottom up and my pension letter is suffcient for my annual retirement visa.

[briley]

JohnC - blimey you spend a lot, but yes you can get the money over the counter or have it put into your bank account and there is no apparent limit.

If nationwide send the money you have to go throught their hoops of forms and phone calls but if Bangkok Bank request the money then your signature on the little slip of paper the Bank gives you is enough.

I think it is magic, but it works.

Incidentally if you go to the ATM at 6.50 am Thai time you can withdraw todays £300 and wait a minute or two and withdraw tomorrows £300. Never tried this in Thailand but it does work over midnight in the UK.

[JohnC]

JohnC - blimey you spend a lot,

Incidentally if you go to the ATM at 6.50 am Thai time you can withdraw todays £300 and wait a minute or two and withdraw tomorrows £300. Never tried this in Thailand but it does work over midnight in the UK.

Sorry slightly misleading, I do not draw out £300 every day what I meant was each month if I want more than £300 that month I have to make numerous trips to the ATm plus I try and put my monthly living expenses into my Thai bank so I can evidence this when renewing my retirement visa, not in the rules but just me being belt and braces. As far as waiting for the time change yes it does work same as UK.