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money changers

Started by billkorat, May 10, 2013, 10:26:11 PM

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billkorat

can anyone one tell me of a good money changer in Korat and what rates are there. Thank you

Johnnie F.

I think about every bank does. Never heard of another. Expats and tourists got used to withdraw money on their foreign ATM or credit cards, despite the heavy fees of 150 Baht for the Thai bank plus whatever your home bank charges.

billkorat


thaiga

Anyone who goes to a psychiatrist should have his head examined.

xlnttt

aeon in the mall charges no fee for atm and rates seem comparable.

Johnnie F.

There is only one warning to add:

Watch out for those ATMs, that offer to convert the baht you want to withdraw already to your home currency, to my knowledge Krungthai Bank and Siam Commercial Bank. They are so friendly to charge you about 3 - 5% more than a conversion by your home bank would amount to. Those banks display the currency rate they offer, and you should not press "continue", if you're not happy with that rate. You can decline, and still withdraw; then conversion will be done by your home bank at a much better rate. From the bank statement your home bank gives, you can only see the amount withdrawn in your home currency, not how many baht you got at which rate, if you hadn't watched out and had stepped into that trap. At least I experienced that. 
:cussing

xlnttt

heres the figures,

aeon-5000 bht withdrawl.no fee-$167.52 cad

kungsri-5000 bht withdrawl.150bht fee-$172.54 cad

rates seem very comparable.the down fall may be,aeon has 7000 bht max withdrawl.

krungsri has 30,000 bht max but 150 bht fee

Johnnie F.

Aeon used to have a 40  bills limit (THB 40,000, if THB 1,00 bills are available) until a cople of months ago. But then it happened to me, that at the ATM on 2nd floor a stack of 40 bills got stuck and released only 22 of them. Of course I raised hell to get the remaining 18 bills from them. Just days later they changed the limit to 20 bills. I think the daily limit of Aeon is THB 100,000.

European banks though limit the daily amount to be withdrawn abroad, unless you talk to them and ask them to raise the limit for your account. They might make you sign a contract that releases them of liability in case of ATM fraud, before they do. 

Most Western banks do charge a transaction fee for each withdrawal at an ATM in Thailand, you end up paying in addition to the THB 180 all Thai banks (except Aeon Finance) charge you. In my case it is 1% of the withdrawal amount, minimum â,¬4.00. By using the ATMs  of Aeon Finance you can save the THB 180 per withdrawal, but you might still get charged a fee by your own bank. So, for one you should avoid using banks that charge you the THB 180 fee, and also try to get the maximum amount per transaction, or at least an amount that makes the proportional fee of your own bank not below the minimum fee they charge.

Johnnie F.

Quote from: Johnnie F. on January 14, 2014, 12:02:57 PM
...it happened to me, that at the ATM on 2nd floor a stack of 40 bills got stuck and released only 22 of them.

I think it useful to describe the process of getting the money back, that I was charged, but which was kept inside the ATM:

With the receipt the machine issued and the actually released stack of 22 bills tight in my hand I walked down to their office in the basement. There I reported the malfunction of the ATM, counted the money released in front of their eyes and let them write down on the receipt, that I had reported. They wrote down my phone number and promised to call me. Two days later I actually got a call from them. They told me, they had no means interfering with the electronic process to give me the money kept inside the machine. Therefore I should contact my bank in Germany, to refuse their claim.

My bank told me that they have to forward my request to their service provider FIRST DATA within 30 days of the occurrence (international guidelines).

About a week later FIRST DATA transferred the missing amount of THB 18,000 with reference to the ATM withdrawal at Aeon Finance to my account. My bank told the that FIRST DATA was providing that in advance to the reimbursement by Aeon, and I should tell them immediately, if Aeon would charge an incorrect amount to my account again, since they would have to act within 7 days then.

The whole problem was corrected much faster than a similar problem my wife had before with a withdrawal from her Thai bank account over an SCB ATM. Never gonna use SCB again! :spin

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