xyzzy Posted September 9, 2015 Share Posted September 9, 2015 In my experience Kasikorn gives the best rate. Cheapest is to open an account, that will facilitate free withdrawal if in the province where your bank branch is located, or 15 Baht fee in another province. You can send from your home country direct by telegraphic transfer, which also provides the best rate of exchange. Good luck. A VISA card rate will usually always beat the TT bank rate by up to ~0.1B to the US dollar. Quote Link to comment Share on other sites More sharing options...
8inches Posted September 9, 2015 Share Posted September 9, 2015 Visa costs 150 baht withdrawal fee, and the equivelant of 5 US$ from my account. That will be approx. 10US for every withdrawal of max 10000 Baht. Very bad deal for me. For a TT from my acount with no limit I pay approx 7 US and no more for the duration of my stay in LOS. If I use for ex. 300000 Baht you can quickly work out which method is best. Quote Link to comment Share on other sites More sharing options...
xyzzy Posted September 9, 2015 Share Posted September 9, 2015 Visa costs 150 baht withdrawal fee, and the equivelant of 5 US$ from my account. That will be approx. 10US for every withdrawal of max 10000 Baht. Very bad deal for me. For a TT from my acount with no limit I pay approx 7 US and no more for the duration of my stay in LOS. If I use for ex. 300000 Baht you can quickly work out which method is best. Everyone has their own way of doing money. I'm lucky to have a Schwab debit card that gives me my baht at the best rate (or close) for no charge. I have a Kasikorn Bank account. I just did a 30k baht pull from a Krungsri ATM with my Schwab card and then deposited it in my Kasikorn account. I used to do transfers from my bank in the US to my Kasikorn account. But my bank charged US$40 (my bank charges more than some other banks) to do the transfer. Then I believe Kasikorn charges 500 baht on the Thai end (not sure about that)? I can do a lot of ATM pulls for US$40 + 500 baht on a trip (I don't live in Thailand just visit). And if the daily limit for the card can handle 20k-30k baht at a time then all the better. But no doubt the transfer is a good deal for some. Especially if you only have a card that can pull 10k baht a day and charges other fees. BTW ATM use cost 180B these days and not 150B. Thai greed at it's finest... Quote Link to comment Share on other sites More sharing options...
ArchieBunker Posted September 9, 2015 Share Posted September 9, 2015 Just got back. Man, its freaking hot out there. I think its 37 in the Big Mango today and it feels like it April/May. thats enough of a weather report.... Changes at Super Rich and got 36.02. Just for shits and giggles I walked into another place right down the street. Talked to the guy in charge and his English was pretty good, much better than your average Thai. The rate there was 36.00. He told me if I ever wanted to change more than $5k per day its not a problem. I asked if he could give me a better rate for more than 5k and he said we can discuss it. This other place is called Power Exchange web site www.powerexchange.co.th. I probably mentioned it before but there are staggering amount of cash in that Super Rich place. I have seen big fat bricks of 1000 baht notes lying about on the desk ready to go out. You can only imagine what they have in the back. There has to be some serious money laundering going on or have I read too many drug dealer/intl criminal books books.... 2 Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted September 9, 2015 Share Posted September 9, 2015 Changes at Super Rich and got 36.02. This other place is called Power Exchange web site www.powerexchange.co.th. Looks like you got the best rate Arch, the one on the website that is Headquarters or Branch, NOT the Kiosk rate. Power Exchange, that would be a good name for a Ladyboy Bar! In Pattaya, TT Exchange seems to best rates of moneychangers that have multiple locations. Can't find them online. Wonder what their rate is today? Quote Link to comment Share on other sites More sharing options...
globetrotter Posted September 9, 2015 Share Posted September 9, 2015 Looks like you got the best rate Arch, the one on the website that is Headquarters or Branch, NOT the Kiosk rate. Power Exchange, that would be a good name for a Ladyboy Bar! In Pattaya, TT Exchange seems to best rates of moneychangers that have multiple locations. Can't find them online. Wonder what their rate is today? Hey PD where might I find a TT in central /south Patts ? Quote Link to comment Share on other sites More sharing options...
duke007 Posted September 9, 2015 Share Posted September 9, 2015 Hey PD where might I find a TT in central /south Patts ? there is one very near where I stay, its located opposite Soi Chaiyapoon on Soi Buakhau, some here too 1 Quote Link to comment Share on other sites More sharing options...
globetrotter Posted September 9, 2015 Share Posted September 9, 2015 there is one very near where I stay, its located opposite Soi Chaiyapoon on Soi Buakhau, some here too OK thanks, close to where I stay too Quote Link to comment Share on other sites More sharing options...
xyzzy Posted September 9, 2015 Share Posted September 9, 2015 Changes at Super Rich and got 36.02. That is a damn good rate. I got 35.98+ on an ATM withdrawl yesterday so it actully beats my VISA card rate. Doubt you can touch that in Pattaya but great exchange places in BKK. Quote Link to comment Share on other sites More sharing options...
deleted Posted September 13, 2015 Author Share Posted September 13, 2015 Recently got a 36.02 exchange rate using my Charles Schwab ATM card. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 2 Quote Link to comment Share on other sites More sharing options...
dixon cox Posted January 8, 2016 Share Posted January 8, 2016 .. but it's ok that other foreigners are? In my mind the existence of a pretty substantial fee from ATM withdrawals when using a foreign card make having a local Thai bank account even more worthwhile. If I were a regular visitor and didn't have one I would make serious strides to obtain one. As an expat I now have no ATM withdrawal charges. Only B20 if I use another Thai bank's ATM, but I don't. Making quarterly transfers between my UK bank and Thai bank via the likes of TransferWise works very well for me. Even carrying cash (must be declared to customs if $10,000 or over) and placing it into a local Thai bank on arrival in LoS would make sense. 1 Quote Link to comment Share on other sites More sharing options...
globetrotter Posted January 8, 2016 Share Posted January 8, 2016 I agree having a Thai acct is the way to go, on my trip last year I went to at least 10 branches :Kasikorn, Bangkok etc.. And none would give me one, something about needing to see proof of my residency or see a work permit (I forget now) but I finally gave up realizing it is nowhere near as easy to do it anymore Quote Link to comment Share on other sites More sharing options...
xyzzy Posted January 8, 2016 Share Posted January 8, 2016 Recently I found a 550 baht charge on my Kasikorn account from October when I wasn't in Thailand. It appears to be an ATM withdrawal unless ATM99001 is some secret code for some charge from K-Bank. I will try and find out what it is all about when I return to Thailand soon. If I don't get a satisfactory answer I may have to consider closing my account. Quote Link to comment Share on other sites More sharing options...
jeffs Posted January 8, 2016 Share Posted January 8, 2016 Recently I found a 550 baht charge on my Kasikorn account from October when I wasn't in Thailand. It appears to be an ATM withdrawal unless ATM99001 is some secret code for some charge from K-Bank. I will try and find out what it is all about when I return to Thailand soon. If I don't get a satisfactory answer I may have to consider closing my account.Your right its a kasikorn annual charge everyone Kops it .My guess is you originally opened your account in October , I opened my account in January that's when they take it from me the anniversary of the date you opened the account . Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 Your right its a kasikorn annual charge everyone Kops it . My guess is you originally opened your account in October , I opened my account in January that's when they take it from me the anniversary of the date you opened the account . I think it's the annual charge for their ATM card. If you have an account without an ATM card I don't think there is a charge. So instead of closing your account at the beginning your trip, perhaps you can cancel your ATM card near the end of your trip. Kasikorn does have a 50 baht monthly fee for accounts with less than 2000 baht so that's another thing to watch out for. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 For Yanks a pretty good option is doing an ACH transfer to Bangkok Bank in New York and the money is converted to baht in Thailand using the Telex Transfer (TT) rate which is better than the Cash or Traveller Check rate. The fees for large transfer is $10 + 500 baht. The sweet spot for small transfers is $1999 where the fee is $5 + 200 baht. There is also World Remit. I don't know too much about them because we only recently affiliated with them but the first transfer is free. http://www.asiahotelandtravel.com/index.php/topic/434-transfering-money-overseas/ Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 There is also World Remit. I don't know too much about them because we only recently affiliated with them but the first transfer is free. http://www.asiahotelandtravel.com/index.php/topic/434-transfering-money-overseas/ World Remit seems to work especially well for transfers to the Philippines as it appears that the receiptient doesn't even need a bank account. Home delivery: cash is delivered to the recipient’s home address (Philippines only). Quote Link to comment Share on other sites More sharing options...
xyzzy Posted January 8, 2016 Share Posted January 8, 2016 550B is kind of steep for the ATM card fee. And no I don't have the insurance. The statement says: Transaction Type: Transfer Withdrawal NB Withdrawal: 550.00 Service Channel: ATM ATM99001 If it is a legit charge some of my confusion comes from the fact I assumed it was an ATM transaction looking at the Service Channel. Can someone look at their statement and see what their statement says when paying their yearly fee? Maybe ATM99001 is some kind of code they use for bank charges. I also never see Transfer Withdrawal NB used as a transaction type on any other transactions. I don't want to go to the bank unless I need to as it's usually a PITA. Especially if you opened the account at the Pattaya Tai branch which is always seemingly busy. Quote Link to comment Share on other sites More sharing options...
xyzzy Posted January 8, 2016 Share Posted January 8, 2016 If I click on the World Remit link I go to a page that gives me no info at all and has no links. It's a dead end. Do I have to create a login on that other site to see anything? I will be pleasantly surprised to see any money transfer site that doesn't end up costing at least 2%. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 Can someone look at their statement and see what their statement says when paying their yearly fee? Maybe ATM99001 is some kind of code they use for bank charges. I also never see Transfer Withdrawal NB used as a transaction type on any other transactions. I don't want to go to the bank unless I need to as it's usually a PITA. Especially if you opened the account at the Pattaya Tai branch which is always seemingly busy. I am looking at my newest Kasikorn bankbook which starts December 2013 to the present. There is no annual fee. That might be cause I didn't want to pay extra for a card when my original one expired.. As I recall the card was a reasonable rate, 100 or 200 baht, but I really don't need the card as it's not my primary (or secondary) bank. But I want to keep the account open as there could be a reason I want to use that account. I foolishly let the account drop under 2000 baht and I incurred six monthly charges of 50 baht. I have no code which starts with ATM in my book, I guess cause I don't have an ATM card so there can't be any ATM withdrawals or fees for an ATM card. Quote Link to comment Share on other sites More sharing options...
dixon cox Posted January 8, 2016 Share Posted January 8, 2016 Found this PDF for Kasikorn charges: - http://www.kasikornbank.com/EN/RatesAndFees/Charges/ChargesDoc/FeeServices_06012016_en.pdf All references to B550 are for annual card fees, for several different cards including K-Max, which is what I had/have. This does make me glad I let Kasikorn go and changed to Bangkok Bank last year, they even pay interest. Quote Link to comment Share on other sites More sharing options...
Pdoggg Posted January 8, 2016 Share Posted January 8, 2016 If I click on the World Remit link I go to a page that gives me no info at all and has no links. It's a dead end. Do I have to create a login on that other site to see anything? I will be pleasantly surprised to see any money transfer site that doesn't end up costing at least 2%. First, click this link, posting it again for guys new to the thread: http://www.asiahotelandtravel.com/index.php/topic/434-transfering-money-overseas/#entry970 Then Way up top you choose the country you're sending from. And on the left side middle the country you're sending to. Then click. Then Yanks have to choose their state as they are only approved in about 45 states. If you don't choose a state then everything is locked. Quote Link to comment Share on other sites More sharing options...
xyzzy Posted January 9, 2016 Share Posted January 9, 2016 Found this PDF for Kasikorn charges: - http://www.kasikornbank.com/EN/RatesAndFees/Charges/ChargesDoc/FeeServices_06012016_en.pdf All references to B550 are for annual card fees, for several different cards including K-Max, which is what I had/have. This does make me glad I let Kasikorn go and changed to Bangkok Bank last year, they even pay interest. Thanks DC. I guess that means I have a "K-Max Debit card" from the look of the fee info (and it says that on the card). Which pretty much sucks since I have the debt card part shut off. Next time I need to renew my card I will try for the straight ATM card and see how horribly that goes. Don't think I could get a BKK Bank account unless I apply for a retirement visa. And that would be way more trouble. Quote Link to comment Share on other sites More sharing options...
dixon cox Posted January 9, 2016 Share Posted January 9, 2016 Thanks DC. I guess that means I have a "K-Max Debit card" from the look of the fee info (and it says that on the card). Which pretty much sucks since I have the debt card part shut off. Next time I need to renew my card I will try for the straight ATM card and see how horribly that goes. Don't think I could get a BKK Bank account unless I apply for a retirement visa. And that would be way more trouble. Have a look here: http://www.bangkokbank.com/BangkokBank/PersonalBanking/SpecialServices/ForeignCustomers/Pages/Openinganaccountnew.aspx Bangkok Bank - Opening an account: In Thailand for a short time? <== Even if you are only visiting Thailand for a relatively short period of time, you can open a savings account and get a debit card to use for shopping and ATM withdrawals. All you will need to provide is your passport and one other official identification document – for example, a reference letter from your embassy, your home bank or a person acceptable to the bank. You will also need to provide evidence of your address in Thailand as well as your regular address in your home country. Required Documents Foreigner with Long-stay or Tourist Visa Passport and one of the following documents: 2.1 An official document from another country, such as a document from the relevant agency giving evidence of the customer’s right to receive pension funds, OR a letter of reference from one of the following: - Embassy or international organization - Customer’s home bank to Bangkok Bank via the SWIFT messaging network - Person acceptable to Bangkok Bank e.g. branch officer, customer, government officer or company executive - Educational institution located in Thailand and acceptable to the bank - Company that is acceptable to the bank, confirming the customer is in the process of getting a work permit 2.2 Other documents that show the name of the customer e.g. a document showing the ownership of real estate in Thailand such as a unit in a condominium Quote Link to comment Share on other sites More sharing options...
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