|
Post by Banjo on Dec 9, 2013 17:34:15 GMT 7
Depends on the bank Mick, you'll have to look them up. I use a credit union and save on yearly fees. Centrelink may offer you the opportunity to use an overseas bank account, they sent me out a form. Not sure whether it's to save them money or you though.
|
|
|
Post by itsmylife08 on Dec 9, 2013 18:24:31 GMT 7
Hi Mick Citi bank which is not Australian but is an International bank you can use your key/debit card wherever there is a branch assuming you have an account with them there should be no problems . There are no fee's also for this service. The only downside is the Debit card only lasts for 1 year its worth checking out. good luck mate.
|
|
|
Post by seajae on Dec 11, 2013 21:36:36 GMT 7
I have a bank account with the Bangkok Bank and transfer money over here from my aussie(Bendigo Bank) account, it costs me $30 per wireless transfer and then .25 %(max 500 Baht) to have it exchanged to Baht.I can still use my aussie card here no problems and the fees are around $5. It is easy to get a bank account here if you have a visa.
|
|
|
Post by seajae on Dec 11, 2013 21:46:29 GMT 7
Thanks Skeptic. Would it also be possible to have your pension paid directly into the Thai bank account? And can someone that doesn't have a foreign account and just uses their Australian bank key card please give me a figure on what it costs them monthly in fees to withdraw their money? already posted what I do, I transfer once a month to my Thai bank account(Bangkok Bank, great exchange rates)and it costs $30 aussie per transaction, not on the amount sent. Using my Bangkok Bank visa costs nothing here but if I use my Bendigo Master Card it costs $5. I have also tried paypal to transfer my money but they give a crappy exchange rate but it works out cheap if you send it to yourself and claim it as a non buying venture(a cash gift).
|
|
|
Post by ding on Dec 12, 2013 6:08:40 GMT 7
Something that might be useful seajae,
I've been in touch with OrbitRemit to ask why Thailand is not on their list at the moment for transfers from Australia. They say they are working on adding Thailand and expect to offer that facility in the next couple of months.
If you are paying $30 per transaction, they might be worth keeping an eye on. I've used them for some years and they have been fast and reliable. I created a payment on 10th Dec. It was in the account in Manila on 11th Dec. That is some sort of record, because usually I create the payment on a Tuesday and it is not in the BDO account in Manila until Friday.
I can't recall transferring more than $3,000 in one hit, but that still cost $8.00. This week's transfer was $3.99 in transaction charge as a Christmas Special. About one in ten transfers is free.
That's a whole lot cheaper than $30 per transfer if they make Thailand available and it is far cheaper than my banks were.
The other benefit for me is that the exchange rate is reasonable.
Today AUD $1.00 is worth PHP 39.99
Orbit Remit are giving me PHP 39.54. Commonwealth Bank are offering PHP 34.99
So for $8 transaction, almost every bit of my money goes into the overseas bank. I'm lucky. BDO don;t charge fees at their end. My Aussie banks seemed to have a fee for everything as well as lousy exchange rates.
It is no good to you just now - but might be worth keeping an eye on OrbitRemit over the next few months and see. If they do the same transaction fee and they manage the same ratio in exchange rates, you'll save over 600 Baht every transaction.
If I remember that was at least 3 beers at Koh Samui! :-D
Cheers,
RossD.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 12, 2013 8:12:16 GMT 7
Mmmm No Thailand
|
|
|
Post by tirolr on Dec 12, 2013 9:43:58 GMT 7
For those in the Pacific? I am in Samoa and use a Digicel mobile phone, the Digicel Company have a Bank account in Australia.. all I do is transfer from my Westpac Australia account to Digicel Australia account then whatever money is in my Digicel account I transfer what I need to my phone number account in Samoa, the excange rate is always on par and the fee is usually about one AUD, I can withdraw the money from many digicel agent outlets all over the island,, can even pay bills with transferring direct from phone. To set up is very simple and only require the internet. Scan of Passport, to verify identity.Just look up Digicel mobile money transfers and it will direct you to the Klickex website. It works well and have been using this for more than a year.
|
|
|
Post by tablet on Dec 12, 2013 11:58:45 GMT 7
Here are a couple of more options. www.smh.com.au/travel/everyone-asks-how-do-i-avoid-bank-charges-20131114-2xisr.htmlI don't have any experience with transfers as I just use atm's. I have no fee's and very good exchange rate. As with anything, get the name of the product, and do a internet search for reviews. Especially on the expat forums of the country you will be in. And make sure the info is up to date, as banks change their policy's when they see that customer's aren't paying over the top charges. Keep in mind that the transfer fee isn't you're only cost. The actual exchange rate is more important on large transfer's, as noted in one of the post's above. 1960
|
|
|
Post by Banjo on Dec 12, 2013 12:31:25 GMT 7
Thanks for that 1960. Everyone asks: How do I avoid bank charges?The TripologistQuite a few smaller hotels in Europe will insist on a deposit of funds in euros to a bank account before they accept a booking. While you can complete this transaction through your Australian bank, the bank will charge a hefty fee for the service, and there’s a good chance the bank at the other end will also shave off a receiving fee. However there are several non-bank alternatives and they offer a better deal. Currency Fair (currencyfair.com) is one way to transfer funds to bank accounts worldwide. You simply set up an account with Currency Fair, deposit funds and then nominate which bank account you want the funds paid into. You can use their currency converter to get a rough idea of how much in Australian dollars you need to deposit in order to fund your transaction and if you pay in more, you can then return any surplus to your own bank account. The fee for a standard transfer is €3. Since Currency Fair’s AUD account is held in Sydney, you should be able to transfer funds to this account at zero cost from your own Australian bank account. Currency Fair is fully regulated as an Authorised Payments Institution by the Central Bank of Ireland and clients’ funds are held in a major global bank. World First (worldfirst.com.au) is a British-based financial institution that provides a similar service. World First has accounts with Westpac so you should be able to avoid any fees that would be involved if you were transferring funds to a foreign bank. As a private client, you will pay a fee of $15 for each payment and transactions must be $250 or greater, which may put it at a disadvantage to Currency Fair – although World First does offer a highly competitive exchange rate. Advertisement Western Union (westernunion.com.au) is another alterative, but the exchange rate they apply makes this a relative expensive way to transfer funds. Read more: www.smh.com.au/travel/everyone-asks-how-do-i-avoid-bank-charges-20131114-2xisr.html#ixzz2nEfvH3kN
|
|
|
Post by Banjo on Dec 12, 2013 12:37:51 GMT 7
|
|
|
Post by Banjo on Dec 12, 2013 12:38:49 GMT 7
I'm moving this down to the Travel forum.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 12, 2013 16:11:34 GMT 7
Depends on the bank Mick, you'll have to look them up. I use a credit union and save on yearly fees. Centrelink may offer you the opportunity to use an overseas bank account, they sent me out a form. Not sure whether it's to save them money or you though. likewise Banjo, I use CUA here in Australia, but if members are in Bkk or most larger towns in Phils, they should consider opening an account with Citibank as they have an account where there is no fee for withdrawing funds o/s. I assume it would be no problem to have CL payments made to such account and that will be a big saving for the members. there are about 3 locations in Bkk maybe more now, but none in Pattaya where I spend my time. This may be a help for some.
|
|
|
Post by ding on Dec 13, 2013 5:16:38 GMT 7
Sorry if it looks like I'm plugging one particular firm, but it is the only one I had dealings with that I trust, and their customer service it incredible. :-)
I'm curious about the Citibank thing though. After an earlier post I searched and searched through their website and just did again after this one. I can't find any account that has no ATM or withdrawal fees overseas, or even cheap ATM or withdrawal fees.
Can someone please post a link? There are odd times when I want to use my own card instead of begging my girlfriend for money.. and my own bank charges a fortune for ATM use in Japan and Philippines.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 16, 2013 15:31:37 GMT 7
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 16, 2013 15:37:06 GMT 7
Something that might be useful seajae, I've been in touch with OrbitRemit to ask why Thailand is not on their list at the moment for transfers from Australia. They say they are working on adding Thailand and expect to offer that facility in the next couple of months. If you are paying $30 per transaction, they might be worth keeping an eye on. I've used them for some years and they have been fast and reliable. I created a payment on 10th Dec. It was in the account in Manila on 11th Dec. That is some sort of record, because usually I create the payment on a Tuesday and it is not in the BDO account in Manila until Friday. I can't recall transferring more than $3,000 in one hit, but that still cost $8.00. This week's transfer was $3.99 in transaction charge as a Christmas Special. About one in ten transfers is free. That's a whole lot cheaper than $30 per transfer if they make Thailand available and it is far cheaper than my banks were. The other benefit for me is that the exchange rate is reasonable. Today AUD $1.00 is worth PHP 39.99 Orbit Remit are giving me PHP 39.54. Commonwealth Bank are offering PHP 34.99 So for $8 transaction, almost every bit of my money goes into the overseas bank. I'm lucky. BDO don;t charge fees at their end. My Aussie banks seemed to have a fee for everything as well as lousy exchange rates. It is no good to you just now - but might be worth keeping an eye on OrbitRemit over the next few months and see. If they do the same transaction fee and they manage the same ratio in exchange rates, you'll save over 600 Baht every transaction. If I remember that was at least 3 beers at Koh Samui! :-D Cheers, RossD.
|
|