spending in Thailand

socrates

NiftyDigits wrote: »

If you are staying in Pattaya for long periods, then what does it matter whether the ATMs are not in the 'Central Tourist Zone'?
Big C Extra is hardly off the beaten track.
You might have a stronger point if you were staying on Koh Chang or perhaps Phuket.

As to sticking close to the spot rate; it seems that they take at least 1% from your £10000. So that's £100 gone straight away. Then what if the US$ devalues against the £ in the meantime?

Though none of these are insurmountable problems, what does appear to be a difficulty is that ATM refunds are nowhere to be seen.
Can you locate it within the T&C?





No such blurb for the One International.

I will get back to you on the waiver it is a fair point

I will also clarify what they meant by spot rate

I have merely applied for the account if it proves that they guy sat in front of me was misleading me - then I will not go through with the transaction

If it proves otherwise I do prefer the convenience of using any ATM as generally I draw money every 2-3 days and do not want to waste time as I stay around Soi 10 near Beach Road

NiftyDigits

socrates wrote: »

I will get back to you on the waiver it is a fair point

I will also clarify what they meant by spot rate

I have merely applied for the account if it proves that they guy sat in front of me was misleading me - then I will not go through with the transaction

If it proves otherwise I do prefer the convenience of using any ATM as generally I draw money every 2-3 days and do not want to waste time as I stay around Soi 10 near Beach Road

Also, as it's a Brokerage account you will have limited protection for your money if it all goes pear shaped.
Which 'checking' account, if any, is linked to the One International?

socrates

NiftyDigits wrote: »

Also, as it's a Brokerage account you will have limited protection for your money if it all goes pear shaped.
Which 'checking' account, if any, is linked to the One International?

As I understand you a protected in line with the US Protections - I suppose they have their own FSA

NiftyDigits

socrates wrote: »

As I understand you a protected in line with the US Protections - I suppose they have their own FSA

Your understanding needs to be expanded. "US Protections" means nothing. You need to know the specific 'protection'. As I read it, it is SIPC and not the preferable FDIC.
Personally, unless I were getting on a bit, I would take the walk to the (ex)Carrefour. It's only a few minutes from Soi 10. Taxi, 10 baht each way. Don't you shop whilst on holiday?

Seriously though, you need more details before proceeding.

NiftyDigits

hanwellmike wrote: »

I am also a regular visitor to Thailand (mainly Pattaya). Last trip (March) I opened a Kasikorn bank account. I was surprised that I could do so without a permanent address but anyway. It cost 800 baht (for the ATM card apparently). I deposited 500 baht and I have not yet topped it up. I had intended to fund the account straight away from my UK Halifax account but was unable to do so unless I phoned the Halifax to confirm the details of the new "payee". Couldn't be bothered to phone Halifax from Thailand so I left it. So I hope to use it on my next trip (November?). Hoping this turns out to be a money saver.
So if you are going on a long trip to Thailand it may be worth opening a Thai bank account but you may have problems arranging for funding from your UK bank whilst you are in Thailand.

I can't find any card on the K-Bank website that costs 800 baht.

Their basic debit card service fees
Entrance fee/card replacement fee THB100
Annual fee THB200


They probably sold you something.

socrates

NiftyDigits wrote: »

I can't find any card on the K-Bank website that costs 800 baht.

Their basic debit card service fees
Entrance fee/card replacement fee THB100
Annual fee THB200


They probably sold you something.

I think their prices may have gone up but it may have been the 200 + 100 you mentioned plus 500 baht minimum funding required to activate the account

NiftyDigits

socrates wrote: »

I think their prices may have gone up but it may have been the 200 + 100 you mentioned plus 500 baht minimum funding required to activate the account

The way that he has written it makes it seem that the 800 baht was separate from the deposit.
Perhaps he will confirm one way or the other.

hanwellmike

Yes they did charge me 800 baht just to open the account and get the ATM card. I had expected it to be a around 300 or 400 baht but I didn't haggle. I was happy to get the account up and running and to walk away from the bank after 20 minutes with a working ATM card. Kasikorn does seem to have a lot of different debit cards and possibly I got a more expensive one. In the long run I should be saving on ATM charges on future visits.

The main reason for the post was to warn that it was difficult for me to arrange for payments from my UK bank (Halifax) to my new Thai account whilst I was in Thailand. I tried to do it online but I needed to speak to someone first and I think they also needed to post something to me before I could set it all up. Other UK banks maybe be easier.

socrates

ND - I have a question for you - when you use the Clarity Card to draw from a banks Forex section using the chip and pin machine - what costs are involved?

Which rate do you get the Visa rate or the banks exchange rate?

hanwellmike

My ATM card is called a K-SME Debit Card which I believe is a small business type card. I suspect this card was pushed on me instead of the usual personal debit card but I am not too bothered as long as it works.