Sick of bank charges

[brianthainess]

20 hours ago, possum1931 said:

I use my UK debit card there

is a fee of 250+ Baht.

DOH !!

[MadMuhammad]

22 hours ago, Tayaout said:

Any visa except tourist. Even tourist visa did work and may still work with the right contacts or situation. 

 

Personally, I opened a bank account twice at Bangkok Bank. First time on ED visa. They closed it after 2 years inactivity. Opened another one on non-o multiple entry. 

It helps if you take a thai ‘reference’ that holds an account at the same bank I’ve found 

[Chelseafan]

19 hours ago, RandG said:

We regularly transfer money from Lloyd UK to SCB Phuket in Sterling.  They charge £ 9.50. If done by 3pm UK it is here next morning (or Monday if sent on a Friday).  Can all be done online.  We transfer a few thousand pounds over every now and then,  and then use SCB debit card to withdraw cash at no charge. If we are using a card for payment (hotel,  better restaurant,  Central,  etc,  we use UK cards (Halifax or Monzo)  with no charge.  

What exchange rate do Lloyds give you when transferring to your Thai Bank account ?

 

[NoshowJones]

27 minutes ago, brianthainess said:

DOH !!

Maybe I gave the wrong impression, not once in all my time in Thailand, have I ever paid to draw money from a Thai ATM using my UK bank debit card.

[AjarnMartin]

On 11/11/2019 at 11:13 AM, scubascuba3 said:

Can't you just pay her using her bank account?

 

Open your own bank account when next in Thailand.

 

For Transfers Transferwise is good

TransferWise. I transfer £1000 direct to my Thai Bank for £7 at more advantageous rates than most other routes. I do this TWICE a month. No problem.

[Chelseafan]

1 hour ago, possum1931 said:

Maybe I gave the wrong impression, not once in all my time in Thailand, have I ever paid to draw money from a Thai ATM using my UK bank debit card.

Which debit card are you using? I thought all Thai ATM machines charge for UK debit card withdrawals, usually 220 baht.

 

[NoshowJones]

2 hours ago, Chelseafan said:

Which debit card are you using? I thought all Thai ATM machines charge for UK debit card withdrawals, usually 220 baht.

 

Yes, that's right, but as I said I have never used my UK in a Thai ATM ever, only my Bangkok bank debit card.

[bryangiggs]

I use Currencies Direct to transfer funds to Thailand whether it be to our joint account or a family members account. No fees & competitive rates.

[treetops]

On 11/12/2019 at 6:47 PM, Chelseafan said:

Basically Halifax are shafting you for 1,375 baht (£35). Not a lot as a one off transaction but these soon add up. Besides why would you want to give money away, your missus can make use of it ????

 

The poster you quoted wrote he transferred in GBP so the exchange would be done by the receiving bank in Thailand, not by Halifax.  Overall it won't be as good as Transferwise to a Thai bank account, but not as usurious as you make out.

 

On 11/12/2019 at 6:55 PM, Chelseafan said:

I have a Bangkok bank account and don't get charged for withdrawals if I use the banks own machines, if I use an other banks machines then I get charged a nominal 20baht.

You are allowed a limited amount (only 4 or 5 I think) of withdrawals per month from other banks' ATMs without being charged.  I think I read on here that this was implemented around a year ago.  I've certainly experienced it on my last few visits.

[Chelseafan]

42 minutes ago, treetops said:

The poster you quoted wrote he transferred in GBP so the exchange would be done by the receiving bank in Thailand, not by Halifax.  Overall it won't be as good as Transferwise to a Thai bank account, but not as usurious as you make out.

 

You are allowed a limited amount (only 4 or 5 I think) of withdrawals per month from other banks' ATMs without being charged.  I think I read on here that this was implemented around a year ago.  I've certainly experienced it on my last few visits.

I bank with the Halifax and did a dummy run then did the same on Transferwise. Both quoted the amount of baht I would receive. £35 was the difference. In terms of when/where the exchange happens it looks like halifax do it at this end.

 

 

Halifax today = 37,183.37 (I've included the £9.50 charge)

 

 

Transferwise (they've deducted the £7.00 charge)

 

 

A difference of 1351 baht or approx £35.

 

I was in Thailand in August and got charged by other banks for every translation, there was no free ones. Might just be the type of account I have

 

 

[treetops]

You need to force it to send in GBP, not THB, by clicking on the down arrow next to the Thai flag in your pic.  As said, it won't be as good as Transferwise but better than what you're seeing.

[scubascuba3]

On 11/13/2019 at 12:58 AM, treetops said:

No. 1 contravenes the Ts & Cs of the Clarity Card - do it often enough and the funds will be returned from whence they came and/or they'll close your account.

No. 2.  Banks currency windows offer poor exchange rates.  Far better to request a cash advance on the card from a teller, where you'll get the Mastercard rate, but not all banks/branches allow this.

 

Tandem card is a non premium card which offers the same service and also gives 0.5% cashback.

Wrong on no.1, the withdrawal comes out immediately as pending so transferring to cover it is ok.

 

Wrong on no.2, you use the Clarity card at the currency desk and withdraw THB using mastercards rate, that's the whole point of the Clarity card

[Huckenfell]

On 11/11/2019 at 12:59 PM, BRUFC said:

To answer the OP. I just checked Transferwise, which I've been using monthly for 18 months. To Transfer £1700 pounds today would cost you £11.04 in fees, so they'll covert £1688.96 and 'your' account will receive 65562.39 baht. Whether the Thai bank will charge for receiving I couldn't say. Mine doesn't. Without fail the baht are here the next working day, although I've read here on TV that some members have had their money within hours.

I have just had 1500 GBP transferred to my Bangkok Bank. It was sent on Monday , today is Thursday and it has not arrived yet.

[treetops]

22 hours ago, scubascuba3 said:

Wrong on no.1, the withdrawal comes out immediately as pending so transferring to cover it is ok.

 

Wrong on no.2, you use the Clarity card at the currency desk and withdraw THB using mastercards rate, that's the whole point of the Clarity card

You're right to say the withdrawal shows as pending, and it also reduces your available credit, but it does not appear on the balance figure until it's posted 2 or 3 days later.  It is this balance figure which you are not supposed to allow to go positive.  In practice you can do it and will often get away with it, but do it too often and you risk getting huckled.

 

For no 2, if you go to a teller it'll be as you describe.  If you go to the currency window as stated by the post I quoted, this is effectively a bank's Bureau de Change and does not offer the Mastercard rate.  Here's a pic of the Krungsri Bank at the S-Bend on Soi Buakhao showing the currency window outside the bank.  You will not get the Mastercard rate there.

 

[scubascuba3]

1 hour ago, treetops said:

You're right to say the withdrawal shows as pending, and it also reduces your available credit, but it does not appear on the balance figure until it's posted 2 or 3 days later.  It is this balance figure which you are not supposed to allow to go positive.  In practice you can do it and will often get away with it, but do it too often and you risk getting huckled.

 

For no 2, if you go to a teller it'll be as you describe.  If you go to the currency window as stated by the post I quoted, this is effectively a bank's Bureau de Change and does not offer the Mastercard rate.  Here's a pic of the Krungsri Bank at the S-Bend on Soi Buakhao showing the currency window outside the bank.  You will not get the Mastercard rate there.

 

No.1, Halifax appear ok with it, I've been doing it for years.

 

No.2 i use Krungsi currency booth sometimes and a withdrawal using a Clarity card uses it's mastercard rate as usual, they don't even ask what rate etc they just know you want the card rate.

 

I also withdrew from Kasikorn a few times, they direct you outside to the currency booth, again you get the mastercard rate. Maybe depends on bank and branch

[tigerbeer]

save money in Thail back max interest in fix deposit 1.25%, take a loan and see the difference in profit margins. daylight robbers. 

[Jaggg88]

On 11/12/2019 at 6:40 AM, alzack said:

You Might like VIRGIN MONEY good exchange rates and no fees, you must move £1000 min

My HSBC bank were charging £23 a go and poor rate

 hope it helps

HSBC currently charge just £4 per swift transfer (free to another HSBC foreign account). You should always send the money in GBP and you will get a better rate the Thai end and usually no fees because the receiving bank make some money on the exchange.

[steve187]

On 11/12/2019 at 11:28 AM, Tayaout said:

Any visa except tourist. Even tourist visa did work and may still work with the right contacts or situation. 

 

Personally, I opened a bank account twice at Bangkok Bank. First time on ED visa. They closed it after 2 years inactivity. Opened another one on non-o multiple entry. 

if someone wants to do a conversion to non imm 'O' visa from a tourist visa, how would be have 800,000 baht in the bank without an account.

[Tayaout]

16 minutes ago, steve187 said:

if someone wants to do a conversion to non imm 'O' visa from a tourist visa, how would be have 800,000 baht in the bank without an account.

It's a chicken and egg question. However, you can get a non-o visa without financial proof (not sure about retirement) in a neighbouring country. Once you have a non-o visa it's easier to open a bank account. 

[JoePai]

New UK bank with no fees : https://wearebo.co.uk/

[Phulublub]

On 11/13/2019 at 12:58 AM, treetops said:

No. 1 contravenes the Ts & Cs of the Clarity Card - do it often enough and the funds will be returned from whence they came and/or they'll close your account.

No. 2.  Banks currency windows offer poor exchange rates.  Far better to request a cash advance on the card from a teller, where you'll get the Mastercard rate, but not all banks/branches allow this.

 

Tandem card is a non premium card which offers the same service and also gives 0.5% cashback.

No1...strange,then, that I have been doing this for years.

No2...You obviously know better than me what exchange rate I get when I do my transfers. 

 

Others may wish to check for themselves rather than rely on unsubstantiated nonsense from anyone, me included.

 

PH

[poohy]

On 11/11/2019 at 1:46 PM, KhunBENQ said:

No they won't. Same for me.

A fee does not occur as the actual transfer is in Thai Baht from within the country.

 

BKK bank charges 400 THB on receipt of EFT funds (not transferwise)

[treetops]

45 minutes ago, Phulublub said:

No1...strange,then, that I have been doing this for years.

No2...You obviously know better than me what exchange rate I get when I do my transfers. 

 

Others may wish to check for themselves rather than rely on unsubstantiated nonsense from anyone, me included.

No. 1 - so have I (and others above) but I'm aware of the Ts and Cs and the possible repercussions so it's only fair that these are pointed out.

 

No. 2 - I don't know how  or where you do your transfers - maybe in your mum's basement - so how would I possibly know what exchange rate you get?  I was pointing out the difference I have come across between a bank's exchange counter and a withdrawal via a regular teller.  Also as pointed out above, this may vary between banks/branches.

 

Either way, my post was not "unsubstantiated nonsense" so maybe you should take your hands away from the keyboard before you embarass yourself even more.