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[SoCal]

I have an HSBC debit card linked to my checking account in the US. Can access at any HSBC worldwide up to $2k/day no charge.

If I need more, then I just plan ahead and start taking the money out incrementaly.

The exchange rate is a little lower, but not bad, as the USD must first convert to HKD before converting into the local currency.

[lesdunbar]

G,day All,
              Please check out the Bendigo bank. (Aust) I use a Visa Debit Card while in Thailand/Hong Kong/Philippines. I deposit my funds into my bendigo bank  in Australia.  Withdraw at any ATM  OS.and only get charged A$5-00 per transaction for any amount. No hickups yet and been using Bendigo bank  for  overseas withdrawl s  since 1997,cheers,
lesdunbar
The Philippines ATM,s suck. only able to withdraw a little amount each time  .(About Pesos 4000)

[bensalu]

lesdunbar, on 2009-02-28 14:17:48, said:

G,day All,
              Please check out the Bendigo bank. (Aust) I use a Visa Debit Card while in Thailand/Hong Kong/Philippines. I deposit my funds into my bendigo bank  in Australia.  Withdraw at any ATM  OS.and only get charged A$5-00 per transaction for any amount. No hickups yet and been using Bendigo bank  for  overseas withdrawl s  since 1997,cheers,
lesdunbar
The Philippines ATM,s suck. only able to withdraw a little amount each time  .(About Pesos 4000)

do they also charge you overseas conversion fee ? because i found doing it that way with an atm card that the overseas conversion fee was to high.

[samran]

hsbc premier account will give you $20 transfer fee. If you've retired and got the savings to get a premier account, then it could be worth it.

[cpofc]

me too mate, the Thai Banks 150 baht fee was the last straw for me. Talk about gouging. My Australian Military pension and benefits, by law, have to be paid into an Australian financial institution.  So I have no option there.  I bank with the Commonwealth Bank too and they have done nothing but raise their fees so much it got to the stage where the bastards should be wearing masks!

In the finish it was costing me $30.00 AUD in fees to withraw a sum of 10,000 Baht from a Thai ATM!

There had to be a better way!  This was costing me a monty, and all for shit!

So here is what I did.

Do this if you haven't already

open a

1. Commonwealth Bank Netbanking Account
2. Bangkok Bank Account

Set up international transfer details on your CBA Netbank - From your CBA Acct to your Bangkok Bank Account. VERY EASY TO DO!  The CBA and Bangkok bank have an 'affiliation' which makes things easier too.

Every transaction carried out online has a flat fee of $20.00 charged by the CBA (regardless of how much or how little you transfer)

The fees charged at the other end by the Bangkok Bank are negligible when its all said and done.  You can look this up on the Bangkok Bank's website.

Transactions are limited to a daily sum of $5000.00 AUD, but I think you can negotiate more with the Commonwealth Bank if you want to.

Now, It takes me a matter of a few minutes to get myself cashed up.  I don't have to carry my Australian Cards around with me and the Bangkok Bank pays me interest (albiet a little).  All I carry with me is my Bangkok Bank ATM Card and I can use it freely anywhere with no charge.

NOW.  The best Part of The Deal.

Tranferring the money via this method will afford you the best rate of exchange possbile.  Even more than the going Cash Rate!!!   Look it up on the Bangkok Banks website if you don't believe me.

The secret is to deposit/transfer in AUSTRALIAN DOLLARS!!!!!!  

DO NOT (REPEAT) DO NOT, CHANGE YOUR DOLLARS TO BAHT PRIOR TO SENDING, THE CBA WILL RIP YOU OFF BLIND WITH THE EXCHANGE RATE, LOSING ANYTHING UP TO 2.5 BAHT IN THE DOLLAR.  TRANSFER YOUR MONEY TO THE BANGKOK BANK IN AUST DOLLARS! YOU ARE GIVEN THIS CHOICE AT THE TIME OF YOUR TRANSACTION, MAKE SURE YOU GET IT RIGHT!

The larger the amount you transfer the better off you are/

Another bonus is that you can take your Bangkok Book down to your nearest branch periodically and get it updated by their machine.  Handy when Immigration want to have a look at your bank account.

The only way to fly mate, I should have been doing it years ago.  I am saving heaps!

[foxxx]

HSBC Australia offer the best exchange rates usually a point higher than my other account (stgeorge).

standard international fee I've found is $20 and whatever the bank rate is... you'll never get the current live rate, but hsbc does seem to offer the best rate.

[cpofc]

as I said in my previous post, when it comes to the real time exchange rate,  should you transfer in Australian Dollars via netbank your money will be converted to baht at the Thai end, lets say the Bangkok Bank, the rate you receive is at the going rate on the day,

Therefore,  If you did your netbank transaction right now to the Bangkok Bank in Oz Dollars you would get a rate of

Bht 27.14750

if you carried out the same tranaction with HSBC you would get

Bht 25.9938

Both institutions have websites where you can check this for yourself  

https://online.hsbc....ange_rates.html

http://www.bangkokba...tes/default.htm

[Andrew Mac]

actiondell4, on 2009-02-28 10:04:08, said:

I walked past the THAI BANK in Sydney yesterday and noticed they are charging $20 AUD for transfer to thai bank accounts of over $1000 aud.
They were actually quite busy ,with many young thais lined up ready to transfer money.
You can actually deposit money here but i dont think you can open a thai bank account,im not sure,i will have to pop in when its not so busy.

Thanks for posting this information, but I do have one quick question.
Where exactly is the Thai Bank in Sydney? ;-)

Cheers
Andrew

[steven100]

Listen up ...

I'll bring your cash over for " free "  no charge !!!

just send me your ATM card and all the details and I really promise I'll get you your money ..

[Chunkton]

steven100, on 2009-09-07 10:36:00, said:

Listen up ...

I'll bring your cash over for " free "  no charge !!!

just send me your ATM card and all the details and I really promise I'll get you your money ..

Sadly I know an English guy that said he would take pounds from an old guy and pay him in baht he already had in Thailand. The old guy is here now, you can guess the rest, never got his money. he is old and sick and needs the money for his retirement visa and doctors, the other guy sends him 20K Thai every now and then.

[sapson]

cpofc, on 2009-07-02 13:43:35, said:

as I said in my previous post, when it comes to the real time exchange rate,  should you transfer in Australian Dollars via netbank your money will be converted to baht at the Thai end, lets say the Bangkok Bank, the rate you receive is at the going rate on the day,

Therefore,  If you did your netbank transaction right now to the Bangkok Bank in Oz Dollars you would get a rate of

Bht 27.14750

if you carried out the same tranaction with HSBC you would get

Bht 25.9938

Both institutions have websites where you can check this for yourself  

https://online.hsbc....ange_rates.html

http://www.bangkokba...tes/default.htm

Interesting re commonwealth bank net account, I have some funds in a colleagues account with this bank and required a couple of transfers recently,

First time 3500 aussie dollars but unfortunately sent in Thai baht and converted first, flat fee 22 dollars money went to Standard Chatered Bkk first who took 600 baht before it arrived the next day in my Kasikorn bank account who took about  300 baht..................the difference in the exchange rate used by CWB and Kasikorn bank was outrageous lost about 7000 to 8000 baht.

This time yesterday 3500 dollars sent as DO NOT CONVERT sent in Aussie dollars flat fee of 22 dollars charged to CWB account.
BUT money was sent by net bank CWB  to another Aussie bank  first who took ANOTHER  60 DOLLARS and then sant thte balance 3439 to my Thailand account Kasilorn bank who converted at the best TT rate this morning.

So Commenwealth Bank Net Bank have charged 82 dollars to get the money to Thailand...................f****cking outrageous!! an additional 60 dollar  undisclosed fee on top of the original 22 dollars.

Really couldnt believe it and was tearing into my KK bank customer services who shut me up by sending me copies of the swift bank invoices showing the further deductions before the money reached Thailand.

Is there any recourse ??

Regards from one very angry bunny!!

[ozzieovaseas]

z

sapson, on 2010-10-15 19:16:12, said:

cpofc, on 2009-07-02 13:43:35, said:

as I said in my previous post, when it comes to the real time exchange rate,  should you transfer in Australian Dollars via netbank your money will be converted to baht at the Thai end, lets say the Bangkok Bank, the rate you receive is at the going rate on the day,

Therefore,  If you did your netbank transaction right now to the Bangkok Bank in Oz Dollars you would get a rate of

Bht 27.14750

if you carried out the same tranaction with HSBC you would get

Bht 25.9938

Both institutions have websites where you can check this for yourself  

https://online.hsbc....ange_rates.html

http://www.bangkokba...tes/default.htm

Interesting re commonwealth bank net account, I have some funds in a colleagues account with this bank and required a couple of transfers recently,

First time 3500 aussie dollars but unfortunately sent in Thai baht and converted first, flat fee 22 dollars money went to Standard Chatered Bkk first who took 600 baht before it arrived the next day in my Kasikorn bank account who took about  300 baht..................the difference in the exchange rate used by CWB and Kasikorn bank was outrageous lost about 7000 to 8000 baht.

This time yesterday 3500 dollars sent as DO NOT CONVERT sent in Aussie dollars flat fee of 22 dollars charged to CWB account.
BUT money was sent by net bank CWB  to another Aussie bank  first who took ANOTHER  60 DOLLARS and then sant thte balance 3439 to my Thailand account Kasilorn bank who converted at the best TT rate this morning.

So Commenwealth Bank Net Bank have charged 82 dollars to get the money to Thailand...................f****cking outrageous!! an additional 60 dollar  undisclosed fee on top of the original 22 dollars.

Really couldnt believe it and was tearing into my KK bank customer services who shut me up by sending me copies of the swift bank invoices showing the further deductions before the money reached Thailand.

Is there any recourse ??

Regards from one very angry bunny!!

Sorry to hear your story and i don't blame you at all for being irate.

Its disgusting what these !#$%^&* banks do to us, they have no morals or fair business play whatsoever. They know their overseas customers have little choice, therefor we are open fairgame to any crap they want to throw at us.

My bank now have a long list of checks that you have to tick each time you make an international transfer using net banking. If you can be bothered reading it you will see they give us no choice but to agree to all the terms,basically allowing them to use the shortest and most easiest route for them while incurring us with the maximum fee.

As you have seen, you bank has used other agents to make it easier for them, therefor the agent gets to charge whatever fee he wants, your bank still get their same extortionate fee, THEN a thai bank gets their cut (the only resonably priced one!)  and then...well, everyone is happy except us. Unfortunately theres little we will ever be able to do about it.

I would think some of the fees you have incurred from the other agent have been calculated on a percentage rate instead of the flat rate of $22 per international transaction that most banks charge. Sometimes they like to charge a percentage fee on larger amounts..suprise suprise

How to beat them??

1. Maybe check that your bank only charges you the one off $24 transaction fee and dont tend to use outside agents. The ANZ seem OK in this regard.

2. As you already know, ensure the cash is sent in $AUS.

3. Maybe try to avoid sending large amounts like you did. I exchange $1000 at a time and buy more as they exchange rate goes up. It may cost a little each time, but it saves the likelihood of getting ripped off big time on a large amount. Also you might make some spare change if buying on the up, but i guess that is not applicable now.

Personally, i try to save my baht banknotes by using credit card wherever possible, at supermarkets,travel,hotels, ect.

They will still slug you 3 percent and interesting to note they NEVER disclose the exchange rate on statements..just another sign of the ba_stardry

I think it matters not, they will get you no matter what way you go.

I dont think you have any recourse as you probably already have agreed to all the conditions they've put you through anyway.

Using the ANZ TT to Kasikorn this week i recieved 29,200 baht in my account for  AU$1000, so this is the best ive had for a LONG time.

On a positive note, be glad that you have exchanged now, when the rate is good. In years past we were buying baht at 22-26 to the aussie.        

[sapson]

ozzieovaseas, on 2010-10-15 20:20:12, said:

z

sapson, on 2010-10-15 19:16:12, said:

cpofc, on 2009-07-02 13:43:35, said:

as I said in my previous post, when it comes to the real time exchange rate,  should you transfer in Australian Dollars via netbank your money will be converted to baht at the Thai end, lets say the Bangkok Bank, the rate you receive is at the going rate on the day,

Therefore,  If you did your netbank transaction right now to the Bangkok Bank in Oz Dollars you would get a rate of

Bht 27.14750

if you carried out the same tranaction with HSBC you would get

Bht 25.9938

Both institutions have websites where you can check this for yourself  

https://online.hsbc....ange_rates.html

http://www.bangkokba...tes/default.htm

Interesting re commonwealth bank net account, I have some funds in a colleagues account with this bank and required a couple of transfers recently,

First time 3500 aussie dollars but unfortunately sent in Thai baht and converted first, flat fee 22 dollars money went to Standard Chatered Bkk first who took 600 baht before it arrived the next day in my Kasikorn bank account who took about  300 baht..................the difference in the exchange rate used by CWB and Kasikorn bank was outrageous lost about 7000 to 8000 baht.

This time yesterday 3500 dollars sent as DO NOT CONVERT sent in Aussie dollars flat fee of 22 dollars charged to CWB account.
BUT money was sent by net bank CWB  to another Aussie bank  first who took ANOTHER  60 DOLLARS and then sant thte balance 3439 to my Thailand account Kasilorn bank who converted at the best TT rate this morning.

So Commenwealth Bank Net Bank have charged 82 dollars to get the money to Thailand...................f****cking outrageous!! an additional 60 dollar  undisclosed fee on top of the original 22 dollars.

Really couldnt believe it and was tearing into my KK bank customer services who shut me up by sending me copies of the swift bank invoices showing the further deductions before the money reached Thailand.

Is there any recourse ??

Regards from one very angry bunny!!

Sorry to hear your story and i don't blame you at all for being irate.

Its disgusting what these !#$%^&* banks do to us, they have no morals or fair business play whatsoever. They know their overseas customers have little choice, therefor we are open fairgame to any crap they want to throw at us.

My bank now have a long list of checks that you have to tick each time you make an international transfer using net banking. If you can be bothered reading it you will see they give us no choice but to agree to all the terms,basically allowing them to use the shortest and most easiest route for them while incurring us with the maximum fee.

As you have seen, you bank has used other agents to make it easier for them, therefor the agent gets to charge whatever fee he wants, your bank still get their same extortionate fee, THEN a thai bank gets their cut (the only resonably priced one!)  and then...well, everyone is happy except us. Unfortunately theres little we will ever be able to do about it.

I would think some of the fees you have incurred from the other agent have been calculated on a percentage rate instead of the flat rate of $22 per international transaction that most banks charge. Sometimes they like to charge a percentage fee on larger amounts..suprise suprise

How to beat them??

1. Maybe check that your bank only charges you the one off $24 transaction fee and dont tend to use outside agents. The ANZ seem OK in this regard.

2. As you already know, ensure the cash is sent in $AUS.

3. Maybe try to avoid sending large amounts like you did. I exchange $1000 at a time and buy more as they exchange rate goes up. It may cost a little each time, but it saves the likelihood of getting ripped off big time on a large amount. Also you might make some spare change if buying on the up, but i guess that is not applicable now.

Personally, i try to save my baht banknotes by using credit card wherever possible, at supermarkets,travel,hotels, ect.

They will still slug you 3 percent and interesting to note they NEVER disclose the exchange rate on statements..just another sign of the ba_stardry

I think it matters not, they will get you no matter what way you go.

I dont think you have any recourse as you probably already have agreed to all the conditions they've put you through anyway.

Using the ANZ TT to Kasikorn this week i recieved 29,200 baht in my account for  AU$1000, so this is the best ive had for a LONG time.

On a positive note, be glad that you have exchanged now, when the rate is good. In years past we were buying baht at 22-26 to the aussie.        

Thanks for the reply, It was interestingly ANZ bank who were used by CWB as the sending intermediate bank.

They charged two additional charges 25 and 35 dollars and some odd cents so an extra charge of 60 dollars on top of CWB initial 22 dollar charge,

Do you know how much ANZ charged you for your 1000 dollar transfer.??

We,re  going to contact the customer lack of relations department for an explanation,..................... 60 bucks extra for ANZ plus 22 initially for CWB seems just plain crazy!


Regards angry of Issan!!