sanddawg1 Posted July 4, 2007 Report Share Posted July 4, 2007 Bank Debit Mastercard Link to comment Share on other sites More sharing options...
waerth Posted July 4, 2007 Report Share Posted July 4, 2007 Read my earlier thread about it: HSBC Onshore/Offshore something I found out today http://www.thai360.com/fbb/showtopic.php?tid/520779/ Waerth Link to comment Share on other sites More sharing options...
preahko Posted July 5, 2007 Report Share Posted July 5, 2007 Preahko, I totally disagree. Read here for my recent test of exchange rates and ATMs. No evidence of that in my transactions. It is your US bank, I'd bet a BF on it. Moral? Big US chain banks charge you up the arse for nothing. Shop for a new bank. Regards, SD Wow, that's weird...because a) I definitely get charged 1% at all Thai ATMs now and it is most certainly not my bank doing it, which is about as far from being a big evil US bank--which I likewise despise--as you can get. it's a Credit Union. When I have a problem, for instance, I talk to real people on the phone, many of whom I know by face...! No charge for withdrawals at any ATM worldwide, no charge for checking account, no minimum account balance, etc... preahko Link to comment Share on other sites More sharing options...
cavanami Posted July 7, 2007 Report Share Posted July 7, 2007 Did my test this morning with my new Washington Mutual ATM card. Got Thai Baht from a Kasikorn ATM. Took out 10,000 Baht. My account showed two deductions: $295.06 (for the 10,000 Baht) and $2.95 (1% foreign transaction fee). This is the same as when I use my Citibank card (another large USA banking firm). For me, it is the USA banks that are charging this 1% fee and they even list the fee as a "foreign transaction fee" on the monthly (on-line) statement. Next test, wire transfer $$$ from my Washington Mutual account to my Kasikorn account, as this is "suppose" to be a *** free *** service that Washington Mutual offers...we (I) will see! Link to comment Share on other sites More sharing options...
Sporty Posted July 7, 2007 Report Share Posted July 7, 2007 Will be interested to hear, both are banks I could use, as well... Wonder how these two, would do a single large transfer, $25 or 50,000+ USD. Best option. Thanks for the posts. Link to comment Share on other sites More sharing options...
WorldFun Posted July 8, 2007 Report Share Posted July 8, 2007 The 1% charge is 99% certainly a currency conversion charge done by the international ATM network tag on your card e.g. visa, master, cirrus or plus? Nothing to do with thai or any other foreign ATM. Usually these networks have agreements by country and for USA it seems like 1% surcharge is the norm & that means the card issuer will pass that charge onto the card holder or in exceptional cases the issuer might absorb the charge e.g. in SD's case? For other countries it'll be similar bad or worse deals available & unfortunately not easy to figure out the small print for the average customer Link to comment Share on other sites More sharing options...
mongatu Posted July 10, 2007 Author Report Share Posted July 10, 2007 Thanks for posting that info. That rate sounds pretty close to the onshore rate, except for the 1% MasterCard fee. But when you consider the fees you get charged for converting cash or travelers checks at a Thai bank plus the interest you lose on the money you are holding in cash or traveler's checks and further when you take into account that your ATM money could be sitting in a decent interest bearing US account before you transfer it to the checking account so you can withdraw via ATM, it sounds like one still actually comes out even or perhaps slightly ahead using ATM's with debit cards such as WM's, i.e., banks that only pass through the 1% fee without adding or charging any other fees. Will be interested in how the WM wire transfer compares. Link to comment Share on other sites More sharing options...
cavanami Posted July 10, 2007 Report Share Posted July 10, 2007 Tried to setup the Wa Mu for the wire transfer but came to a halt as I needed the Thailand bank "routing number" and only had the bank's SWIFT number...sent out the emails to request "how to do" to Wa Mu and will stop in at Kasikorn later today to see if they have the routing number...more as it happens! Also, no fees charged when you exchange cash here in LOS, only traveler's check (15 baht per check and a 15 baht service fee, something like that). Link to comment Share on other sites More sharing options...
.. Posted July 10, 2007 Report Share Posted July 10, 2007 Routing number is a USA only thing. The rest of the world uses SWIFT numbers. Still easy to do xfers, but not likely you'll be able to set it up online. You'll need a bank employee who knows what they are doing to set it up for you. Maybe after it is set up you can access it from your online portal. Cheers, SD Link to comment Share on other sites More sharing options...
cavanami Posted July 10, 2007 Report Share Posted July 10, 2007 SD, Yes, only SWIFT numbers here at Kasikorn, verified that today at the Kasikorn bank. They also sent the following email as to the charges when doing a wire transfer: To transfer funds from overseas, the correspondent bank will charge the sender of funds; the charge rate will depend on the conditions of the correspondent bank. The beneficiary will also be charged by KASIKORNBANK on the rate of 0.25% of the transferred amount (minimum 200 baht and maximum 500 baht). I will phone WaMu (my) tonight and see if it is possible to setup to do transfers online. Link to comment Share on other sites More sharing options...
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