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Post by zorro1 on Jun 14, 2014 13:02:34 GMT 7
Mine charges double that but I go to a Thai bank next week, bloody thieves...
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Post by Deleted on Jun 14, 2014 13:29:32 GMT 7
A friend told me yesterday that he has a ANZ Account he only put so much a month in to support his Inlaws in Thailand.
I hope to see a statement soon to see what it looks like.
I may be interested in this. I know there is the monthly account fee. But will wait to see if a withdrawal fee. This is not a Visa Account. Will keep you informed on the fees.
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Post by Banjo on Jun 14, 2014 14:46:11 GMT 7
Mine charges double that but I go to a Thai bank next week, bloody thieves... Do you want a copy of the Centrelink forms? If so you'd better email me so I know the correct email address to send them.
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Post by aussiebernie on Jun 14, 2014 14:47:05 GMT 7
I am just getting everything organised for when I go back to Thailand at the end of July. For an ATM withdrawal in Thailand you will be charged $5 or $6 by the Thai Bank. I am with ANZ and they charge $5 per transaction plus 3%. Some banks in Thailand will only let you take out 10,000 baht at a time. If you use a bank like this, your fees will be; Avg. Pension $1700 per month = about 50,000 baht. 5 x withdrawals at $6 each = $30 5 x ANZ $5 transaction fee = $25 3% ANZ fee on $1,700 = $51 TOTAL = $106 per month or over $1,200 per year. These figures are at the extreme end of transaction costs. When I go, I will be taking cash with me and will use money changers in Pattaya rather than the banks. Yesterday the exchange rate in Kasikorn Bank was 29.85. On the street, private money changers were giving up to 30.35. I am lucky that I have a constant stream of very good friends coming over from OZ and I can get them to bring cash over for me. For other times I need to get money over, I will use this mob; www.ozforex.com.au. They had a minimum of $2,000AUD but have just reduced that to $1,000. The rate yesterday was 29.99. They charge $15 per transfer under $10,000 and the exchange rate gets better, the more you transfer.
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Post by Banjo on Jun 14, 2014 14:48:47 GMT 7
A friend told me yesterday that he has a ANZ Account he only put so much a month in to support his Inlaws in Thailand. I hope to see a statement soon to see what it looks like. I may be interested in this. I know there is the monthly account fee. But will wait to see if a withdrawal fee. This is not a Visa Account. Will keep you informed on the fees. I have a suspicion that they will be something like what Zorro pays, he should use a credit union account, after checking what they charge of course.
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Post by Banjo on Jun 14, 2014 14:54:45 GMT 7
I am just getting everything organised for when I go back to Thailand at the end of July. For an ATM withdrawal in Thailand you will be charged $5 or $6 by the Thai Bank. I am with ANZ and they charge $5 per transaction plus 3%. Some banks in Thailand will only let you take out 10,000 baht at a time. If you use a bank like this, your fees will be; Avg. Pension $1700 per month = about 50,000 baht. 5 x withdrawals at $6 each = $30 5 x ANZ $5 transaction fee = $25 3% ANZ fee on $1,700 = $51 TOTAL = $106 per month or over $1,200 per year. These figures are at the extreme end of transaction costs. When I go, I will be taking cash with me and will use money changers in Pattaya rather than the banks. Yesterday the exchange rate in Kasikorn Bank was 29.85. On the street, private money changers were giving up to 30.35. I am lucky that I have a constant stream of very good friends coming over from OZ and I can get them to bring cash over for me. For other times I need to get money over, I will use this mob; www.ozforex.com.au. They had a minimum of $2,000AUD but have just reduced that to $1,000. The rate yesterday was 29.99. They charge $15 per transfer under $10,000 and the exchange rate gets better, the more you transfer. I must admit I've never come across a bank who's ATMs only allow a 10,000B foreign withdrawal Bernie, most I've used will allow 20,000 and a couple of years back used one that allowed 30,000. Unfortunately I cannot recall the name but it may even have been AEON. I believe that your own bank limits overseas withdrawals as well, mine only allows $1000 a day.
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Post by hypoman on Jun 14, 2014 15:51:59 GMT 7
another option is to check out a remittance firm. (LBC is what I use when Im in the Philippines). you get online to your bank and do a transfer to LBC's Australian bank account. then email them a screen shot of the transaction or just email them with a lodgemt/reciept number (and add your details in the Philippines: address/phone number etc)and then they will send you a control number. you can then go to an LBC office with your ID and get the money in Pesos. All this costs $9 and you can transfer up to 100,000p (from memory). you can even ask to have the remittance sent to your actual address, although I just go to the office to collect it. There are LBC outlets everywhere throughout the Philippines...
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Post by hypoman on Jun 14, 2014 15:58:16 GMT 7
before I used to use my aussie ANZ debit card in the HSBC atm near ayala mall in cebu. ypu could take out $1000 in one hit (40k/pesos). i used to wait till I had 2 payments from centrelink in there and take $1000 out then budget for a month so I had some saved for my next ticket. it was hard going but HSBC didnt charge you anything for the transaction. think you got the current rate but just cant remember if ANZ charged anything, dont think they did though...
you could use other ATM's with a visa or mastercard but some banks charged 400p ($10) per transaction and would only let you get out 10,000p ($250) in one hit.... had to do this when desperate on the odd occasion!
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Post by aussiebernie on Jun 14, 2014 17:06:27 GMT 7
I am just getting everything organised for when I go back to Thailand at the end of July. For an ATM withdrawal in Thailand you will be charged $5 or $6 by the Thai Bank. I am with ANZ and they charge $5 per transaction plus 3%. Some banks in Thailand will only let you take out 10,000 baht at a time. If you use a bank like this, your fees will be; Avg. Pension $1700 per month = about 50,000 baht. 5 x withdrawals at $6 each = $30 5 x ANZ $5 transaction fee = $25 3% ANZ fee on $1,700 = $51 TOTAL = $106 per month or over $1,200 per year. These figures are at the extreme end of transaction costs. When I go, I will be taking cash with me and will use money changers in Pattaya rather than the banks. Yesterday the exchange rate in Kasikorn Bank was 29.85. On the street, private money changers were giving up to 30.35. I am lucky that I have a constant stream of very good friends coming over from OZ and I can get them to bring cash over for me. For other times I need to get money over, I will use this mob; www.ozforex.com.au. They had a minimum of $2,000AUD but have just reduced that to $1,000. The rate yesterday was 29.99. They charge $15 per transfer under $10,000 and the exchange rate gets better, the more you transfer. I must admit I've never come across a bank who's ATMs only allow a 10,000B foreign withdrawal Bernie, most I've used will allow 20,000 and a couple of years back used one that allowed 30,000. Unfortunately I cannot recall the name but it may even have been AEON. I believe that your own bank limits overseas withdrawals as well, mine only allows $1000 a day. My Thai Girlfriend opened an ANZ bank account here in Cairns last year. I put some money into her account and she tried to withdraw it in Pattaya. She was limited to 10,000 baht. I was surprised, thinking that the maximum was 20,000. I also know that Bangkok bank will let you take out 25,000 baht in one transaction. But still, if you go the way of doing withdrawals from an Aussie account, YOU WILL PAY....! OK, my original calculations were in excess of $106 per month. Even if you could get 25,000 at a time, you will still pay the Thai banks $10 to $12, with 2 transaction fees to ANZ= $10 and then 3% =$51, so you will still pay $71 to $73 per month. Or over $800 per year. Credit unions do not give you much of a better rate...! You will still be paying over $500 per year. That's money I would prefer in my pocket. If you know of a better way, I would be very interested.
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Post by Banjo on Jun 14, 2014 17:36:26 GMT 7
If you take an interest in any of the larger expat forums you will notice that a great deal of space is devoted to arguing over the best means of getting your dosh from country A to country B.
Tucked into the bottom of your carry on bag seems to be the cheapest if not the safest.
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Post by Deleted on Jun 16, 2014 13:03:54 GMT 7
Saw the statement today
Was too much for the transactions.
For me at the moment i will use WU
Later i will use a bank Transfer to a bank in Thailand from OZ
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Post by Banjo on Jun 16, 2014 14:35:27 GMT 7
I signed up here for an account today, cost me $10 for the ATM card. I first tried at Kasikorn Bank which came recommended but they sent me on my way and suggested I come back later with a Thai friend. Just crossed the road to their competitors who never hesitated. Now for Centrelink.
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Post by aussiebernie on Jun 17, 2014 9:29:20 GMT 7
Have a look at this site if you are not to sure of what fees your bank is charging you on your overseas withdrawals. This is also a good site for Travel Insurance Quotes. They have some of the best rates I have seen. mozo.com.au/travel-money/travel-debit-cards
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Post by Banjo on Jun 17, 2014 10:12:02 GMT 7
There's no such thing as a "good" travel insurance quote Bernie.... People opening an overseas account should know that not all banks have an IBAN, an overseas bank account number. You can google your banks name and iban to check this. I've photocopied every relevant document including both sides of my healthcare card to send in. Edit: In case I need a larger envelope, if I copy and print the address onto the new one will the barcode still work?
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Post by Deleted on Jun 17, 2014 10:59:10 GMT 7
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