Thai banks to start charging for ATM withdrawals where a foreign card is used

fifeken

Biggles wrote: »

So you'll pay via the exchange rate when you convert them to Baht in Thailand?

Yes, as I stated due to the slightly poorer rate than ATM interbank rate, but overall still better than Nationwide ATM card if you can't avoid the charges mentioned.

Donnie

In-country exchange rates can be found here.

Bank Note for cash. Sight Bill for Travellers Cheques.

ATM rate(Visa) here.

MARKMAKAVELI

Hi, i've read all the previous posts but am still confused!

I would like some clarification please. I have a Halifax "All in one" credit card, which I am going to balance transfer £1000 spends to my Nationwide Debit Card.

I am going to Thailand for 2 weeks and Australia for 6 weeks straight after that.

Is the cheapest option for me to use my Nationwide Debit Card in both countries? Im aware of the bank charges, so I could do one big transaction for £600 when I arrive in Bangkok, then withdraw a couple hundred each time in Oz?

Are the cash withdrawal charges stupidly high in Oz too? Thanks

fifeken

Nationwide still best if you can avoid the 150 baht charges in Thailand. I believe there is still one bank not charging but it's not one of the big banks. If you are paying the fee it's borderline between ATM and Travellers Cheques especially if you don't pay commission for Sterling TCs.
I'm not sure of ATM charges in Australia so perhaps someone else can help out. If there aren't any then NW is the way to go.
In either case open a new account with NW and ask for their basic Cirrus ATM card (not Visa Debit) to avoid their new fees.

MARKMAKAVELI

Thanks Fifeken, Dronnie also replied to me in PM.

I think I' ve left it too late to get a Nationwide Cirrus card, I'm leaving 1st June!
It's all good, thanks for your replies!

Donnie

The Cirrus card wouldn't save you from the charges anyway. The 150 baht charge is levied on foreign ATM cards.

retire_2

Thailand is not alone many county's banks now make this kind of charge, the answer is to draw out larger amounts each time

benjus

Donnie wrote: »

The Cirrus card wouldn't save you from the charges anyway. The 150 baht charge is levied on foreign ATM cards.

But it would mean that you'd save the 1% charge levied by Visa... assuming of course that the exchange rates on the Cirrus/Mastercard network are the same as (or better than) those on the Visa network.

The exchange rate for TCs seems to be comparable to the Nationwide Visa card after applying the 1% charge, so the only difference is in the charges... so unless I was spending a lot of time in Thailand I'd probably stick with the Nationwide card. If you can't get commission-free Sterling TCs the Nationwide card will certainly be cheaper, as commission tends to be around 1.5%.