Canadian ATM withdrawl's ?

[Pom_Jao_Choo]

Anyone up on what the best service rates are for ATM (cash point) withdrawls from a machine in LOS from accounts in Canada ?

 

I have heard that CIBC (Canadian Imperial Bank of Comerce) has very high rates. So what would be

 

cheaper ?

 

I will be staying in LOS for a year so there will likely be enough withdrawls to make it worthwile.

[harlequinbkk]

Pom Jao Choo,

 

 

 

I did some research on this very question earlier this year - i.e. how to withdraw money from a Canadian bank account in the LOS via ATM. I am pretty sure I checked out all the bank web sites. As usual, the major Canadian Banks all offered a pretty lousy deal on this, but what is new? We have been hosed by them all our life! Goddamn scumbags, with their TV commercials on how they help the little guy .... OK, enough ranting. I decided to set up an account with Citizen's Bank of Canada. They are a small bank that operates out of Vancouver. I think they are entirely an Internet bank (no branches, but you can use HSBC bank machines with them).

 

I have not regretted this decision. I have been able to withdraw funds from any ATM in Thailand that is on the Plus system, and am not charged any transaction fees. Not sure about the FX commission, but is seems reasonable. Another thing to consider is the interest rate for the savings account if you deposit signifigant sums. Citizens is not the highest in the country, but quite a bit higher then the big banks.

 

 

 

Also make sure the weekly withdrawal limits are satisfactory for your purposes; I don't remember exactly what they are for me, but I have never hit the limit.

 

 

 

Bear in mind I did my research 6 months ago. Since there, there may be another bank that offers better terms, but you should definately check out Citizen's Bank. There web site is at:

 

 

 

http://www.citizensbank.ca

 

 

 

I hope other Canadians read this also - you all know how the major banks in our country all SUCK THE BIG ONE!!!

 

 

 

Regards,

 

 

 

Harlequin

[Pom_Jao_Choo]

Thank for that harlequinbkk. It sounds like a possiblity I will give it some thought.

[Falang]

You did not say from witch part of Canada your are from so I will tell you my experience. I do business with the Caisse Populaire Desjardins who is a coop but also the biggest bank in Quebec.

 

 

 

They are link with PLUS and VISA and the the exchange is handle by Visa so the exchange rate was very good last February and March but the fees for the transaction was CAN $2.50 for each withdrawl this is a fix fee so don't retreve money like $20.00 at the time because it will be expensive.

 

The limit is CAN $500 for each transaction and no more than CAN $1000 each day.

 

 

 

To show you what is was like, here is a transaction on the 26 February 2003:

 

Withdraw PLUS 10000.00 BAHTS retreve 370.53 $ CAN from my account and Interac/Plus/fee 2.50 $ CAN

 

This is very close to the exchange rate of today.

 

 

 

My 2 bahts ....

[Pom_Jao_Choo]

Thanks for showing me the details that was excellent and I appreciate it.

 

I honestly cant believe that rate is better than an average bank though???

 

This is starting to seriously concern me. I am just the sort of fool who would make excessive transactions due to lack of brains when drinking.

 

 

[harlequinbkk]

I am pretty sure that Citizen's bank, unlike the Caisse, does not charge any service fee for withdrawals from foreign ATMs. However, there are other factors you need to consider; the Caisse probably offers services that Citizen's bank does not, which may be useful to you. Also, they may offer a better rate of interest for the money you store in your account.

 

 

 

You know, unlike us, most of our countrymen do not pay much attention to bank fees, and that is how the SOBs nickle and dime us to death. They make huge loans to countries with questionable regimes, take a financial bath on this, and try to make it up with fees and shitty interest rates for domestic banking .... OK, I know, I am ranting again. Anyways, do the research so that your hard-earned money goes in the pocket of a lovely Issan lady rather than some fat cat Canadian bank executive.

 

 

 

Harlequin

[Guest]

I don't understand how you aren't charged anything for using an ATM in Thailand? I was just in Citizen Bank's website and they say there's a $3.00 charge to use an International ATM. Too bad ING Canada doesn't allow you to use foreign ATM's since their savings rates are higher.