Mine shows the amount in sterling, thai baht, the exchange rate and the bank, town and province.
My online statement simply shows an ATM withdrawal of a certain amount of U.S. dollars, The U.S. bank and Visa transaction fees, when it was withdrawn and from what bank's ATM. It does not show the amount in Thai baht or the exchange rate given so the 150 baht fee is just hidden in the dollar amount.
I tried the Swift transfer route, but my U.S. bank had a very low transfer amount allowed to a foreign bank (maybe a governmental policy after 9/11) with a high enough transfer fee ($40 per transfer) that going that route would even cost more for the same amount of money transferred than the charges via ATM in 20,000 baht transactions.:
I do not know what you mean by your bank ( BofA) having a very low transfer limit to a foreign bank. Sure each bank has a credit limit for each bank but this would never effect your simple money transfers. From my experience of USA bank staff they can talk a load of rubbish when they do not know the answer, particularly about FX matters that they have little or no experience with.
I would strongly suggest that you write to their headquarters in San Francisco for the attention of their Senior VP Operations and ask them the best way to transfer and a copy of their tariff.
Courage is grace under pressure and when circumstances change you change your mind.
Take a look at Wells Fargo HHF, specifically the below link. I don't have that particular account setup, but what I do have since 1982 I'm pleased with. Pete
prcscct wrote:Take a look at Wells Fargo HHF, specifically the below link. I don't have that particular account setup, but what I do have since 1982 I'm pleased with. Pete
I also have a Wells Fargo account and transfer funds via telephone with their "wire service". It was set up a few years ago by phone and post, but I believe now that you would have to apply in person at the Bank. There is no limit on what I can transfer, and over 15K USD they will go to the market and buy a "contract", which gives you a better rate.
May you be in heaven half an hour before the devil know`s you`re dead!
I set up online recurring transfer (recently available option with Bank of America) and the last time I tried to use it I got a message saying there was a limit (the one I mentioned that was cost prohibitive). I just signed on to try it again to see what that limit was as I don't remember and this time I got the following message when trying to make the transfer.
We were unable to set up your Transfers Outside Bank of America service for the following reason(s): * SS18: Your address is invalid. In order to ensure the security of your personal information when you transfer funds to and from accounts outside the bank, this information must be accurate.
I checked the address they have in my personal data and it is correct so now I suppose they are going to tell me they will not transfer to someone who has a foreign address.
I also have a Wells Fargo account and transfer funds via telephone with their "wire service". It was set up a few years ago by phone and post, but I believe now that you would have to apply in person at the Bank. There is no limit on what I can transfer, and over 15K USD they will go to the market and buy a "contract", which gives you a better rate.
This one really surprises me as the last time I actually spoke to a representative over the phone they told me that even a one time transfer of over $10,000 to a foreign bank was not possible without coming to the bank in person and filling out a bunch of government forms as to what the money was going to be used for. They told me this was a regulation of the Federal Government instituted after 9/11 to keep money from being transferred for terrorist activities.
My brain is like an Internet browser; 12 tabs are open and 5 of them are not responding, there's a GIF playing in an endless loop,... and where is that annoying music coming from?
I do not know, HHF. Some of those "representatives" will tell you the first thing that comes into their head. The setup is "repetitive" and I also transfer to my Australian Bank, not Thailand. It may also have something to do with me not being a US resident, but if they are claiming security reasons, then that does not add up either. I also have them "buy" the Australian Dollars using my US Dollars, so maybe that comes into to it?
May you be in heaven half an hour before the devil know`s you`re dead!
In my experience, you cannot do anything new at a U.S. bank without either showing up in person or having a U.S. mailing address. I just tried (online) to open a Charles Schwab account and was asked to download an application form and mail it to a Schwab bank. To open the account I was required to have a mailing address in the U.S. or one of it's protectorates, i.e., Guam, Puerto Rico, etc.
An excerpt from their website:
Schwab Bank High Yield Investor Checking Account Facts
Apply Now
Apply: Individual Joint
Start or Download an application
Open an account with $0.
Account service fees: None.
Who’s it for? US Residents aged 18 and over.
So unless Thailand becomes a state, it appears I am stuck with my overpriced bank!
My brain is like an Internet browser; 12 tabs are open and 5 of them are not responding, there's a GIF playing in an endless loop,... and where is that annoying music coming from?
As I have posted previously, why is anyone paying 150 baht fees for ATM withdraws? Just go to AEON on third floor of Market Village and withdraw up to 40,000 baht (if your bank will allow you that much in one transaction) with NO fee. Yes, I pay Wells Fargo $5 for international ATM withdrawal and can take up to max of $1,000 per day/withdrawal if you get your limit raised to their max.
Hi Brianks,
I am not familiar with Aeon and would like to get this nailed down. Are you saying that as long as your bank card has a visa sign on it, it doesn't matter what country your bank is in, nor whether your card is a debit card or a credit card, you can withdraw up to the amount your bank allows, from Aeon with no additional ATM fees?
bigideas wrote:Hi Brianks,
I am not familiar with Aeon and would like to get this nailed down. Are you saying that as long as your bank card has a visa sign on it, it doesn't matter what country your bank is in, nor whether your card is a debit card or a credit card, you can withdraw up to the amount your bank allows, from Aeon with no additional ATM fees?
Yes
Diplomacy is the ability to tell a man to go to hell so that he looks forward to making the trip
Hi Brianks,
I am not familiar with Aeon and would like to get this nailed down. Are you saying that as long as your bank card has a visa sign on it, it doesn't matter what country your bank is in, nor whether your card is a debit card or a credit card, you can withdraw up to the amount your bank allows, from Aeon with no additional ATM fees?
Yes. AEON does not charge for withdrawals--PERIOD! Trick is to get your home bank to raise your limit to the max allowable so you can get as much as possible in one transaction and one day without having to wait for another day to make another transaction. Wires from US cost me $30. I can make 6 withdrawls at Aeon that get me 192,000 baht over a 6 day period at a cost in USD of $6,000. If you wire you have to wire more than $6,000 to beat the $5 (foreign ATM withdrawal fee by Wells Fargo) charges for the 6 withdrawals. I like it this way as I don't have to keep a lot of money in Thai bank account. Biggest disadvantage is around the 1st of the month when the Thai's are all lined up at the Aeon machines to make their loan payments. After 5th there is hardly any traffic at the machines.
brianks wrote:
Yes. AEON does not charge for withdrawals--PERIOD! Trick is to get your home bank to raise your limit to the max allowable so you can get as much as possible in one transaction and one day without having to wait for another day to make another transaction. Wires from US cost me $30. I can make 6 withdrawls at Aeon that get me 192,000 baht over a 6 day period at a cost in USD of $6,000. If you wire you have to wire more than $6,000 to beat the $5 (foreign ATM withdrawal fee by Wells Fargo) charges for the 6 withdrawals. I like it this way as I don't have to keep a lot of money in Thai bank account. Biggest disadvantage is around the 1st of the month when the Thai's are all lined up at the Aeon machines to make their loan payments. After 5th there is hardly any traffic at the machines.
This sounds great. Thanks for the tip. I will get my bank to up the limit for Cash Machine withdrawals. Is Aeon a bank in HH or are there just Cash Machines?
I just used the ATM locator on AEON's website and it shows no ATM in Hua Hin. Where on the third floor of Market Village is this machine? The bank itself doesn't seem to know about it...
My brain is like an Internet browser; 12 tabs are open and 5 of them are not responding, there's a GIF playing in an endless loop,... and where is that annoying music coming from?
