Credit Card Fees Revisted

[PigDogg]

If using credit cards in Thailand you may be hit with some big service charges.

For example my Chase Visa card oncurs a 3% fee of which 2% goes to Visa and 1% to Chase. And if they're using the "offshore" exchange rate it even gets worse.

Now if the girl in the exchange booth would blow you then the 3% fee would be justified. Instead figure out a way to avoid the fees and the savings will buy a BJ on Soi 6.

Snick says Shity Bank has no fees though. Moral of the story call your bank and find out the real deal with your bank.

I can get Amex traveler s checks for no fee from my credit onion at work. I buy in $500 denominations since in the LOS there is a 30 or 33 baht fee per check so five 100's does not equal one 500.

[jadeite]

I use a debit card exclusively because it gets a better exchange rate than travelers checks and there is no fee. Some people have reported the (new) travelers check fee is applied 5 times if you try to cash a $500 bill! Some banks also have a surcharge to issue travelers checks (my bank is 2.5%!). But moral of the story is true, best to do the research to find which will work out better. I also like the convenience of 24/7 access to my money at ATM's versus tracking down, waiting in line and filling out forms for money changers most of which are only to be found in daylight hours. As far as I can see, I will never use travelers checks again as they carry every single disadvantage in my situation.

[divertwo]

http://www.bankrate.com/brm/news/cc/20050624b1.asp

Here's a good site discussion fees and which bank(s) don't have them.....looks like Capital One is the best option

[Road Runner]

(jadeite @ Jul. 21 2007,18:35) I will never use travelers checks again as they carry every single disadvantage in my situation.

I always use a (UK) debit card myself and would normally not use any other means of getting money in LOS.

However I would always advise to carry some travellers cheques as a back-up in case your cards are pinched.
That way you can at least get some money while you sort out alternatives.

RR.

[SamplerDoc]

I know last Year I had to have 1500 USD wired and it was a 30 USD fee and I got current Bank Rate at that time.  So that was a Good Deal.

I understand that if I use my Credit Union ATM card I have no fees from my CU and that I get current bank rate , whatever that may be.

I plan on taking USD cash to convert on sight just in case  

[Snick]

Shity bank HAD no fees on ATM withdrawls, then they changed the rules around 6 months ago and BOOM big fees on foreign ATM withdrawl. No notice of course, and even searching their website I was never able to find a page that outlined ATM fees (and what I could do to avoid them).

Credit Cards have always sucked, and I use cash almost all the time.

[SamplerDoc]

 I Might Add I also have an HSBC account now too .  So to withdraw using my ATM card at there bank in BKK or wherever has no fee only the current bank rate

[PigDogg]

I like to bring both an ATM card and travelers checks. I don;t want to get caught without cash.

Anyone notice if when using your ATM card the exchange rate is the offshore rate or the Thailand rate?

[PigDogg]

(divertwo @ Jul. 21 2007,12:08) Here's a good site discussion fees and which bank(s) don't have them.....looks like Capital One is the best option    

Thanks Diver!

That's a surprise cause they always seemed sleazy to me. I had one of their cards but canceled cause they wouldn't waive the annual fee.

[Road Runner]

Hello PigDogg,

I use a UK debit card at ATM's in Thailand and I always get the Thai rate on that.

Don't know about credit cards as I avoid using them so I don't have to pay the up front charge which most have on cash.

RR.