To all Australians who are using Commonwealth Bank Credit cards whilst overseas, pls note u are being ripped off again with a 1% conversion fee, together with the 1.5% international transaction fee and the very poor exchange rates from Thailand to Australia, That's approx 7% ! plus the fees That's for Visa Cards, The Mastercard hits u again as its converted into USD before it goes to Aust. Check out 2 purchases done on the 2 cards with the CBA bank at the same day, it will confirm this.
That's making ur purchases a very expensive option, overseas.
Ignore the current exchange rates , as these fee charges still apply to the bottom line when its all converted back in Australia.
Australian Members - Commonwealth Bank Credit Card charges
There is on credit card from Wizard Home Loan is free of all the fee above you mention! check it out your self! this is the link:
http://www.wizard.com.au/creditcards/pr ... ductid=775
I used this card while I am traveling! I just transfer my money in to this card before I travel and with draw any ATM while you away and save on with draw fee,currency convert fee, bank fee......
http://www.wizard.com.au/creditcards/pr ... ductid=775
I used this card while I am traveling! I just transfer my money in to this card before I travel and with draw any ATM while you away and save on with draw fee,currency convert fee, bank fee......
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Bandung_Dero
- udonmap.com
- Posts: 3709
- Joined: July 10, 2005, 8:53 am
- Location: Ban Dung or Perth W.A.
Thanks for the link I will look at it next time I'm home.
I have got 2 CBA Mastercards and note the the fees have been in place since before June. I only use the cards to purchase things like software online. Sure the 2.5% fees are there but their x-rates seem to be favourable on the day.
My CBA Debit Cards suck when it comes to ATM transactions here in Thailand. I have scrapped them in favour of having my money transfered in AUD to Kasikornbank by a friend thus getting the better 'Offshore' rate which is over 7% better than the 'Onshore' (ATM) rate at present. And that does not include the ever increasing bank charges on overseas ATM transactions. Any wonder the CBA share price is over AUD$54 and going up.
I have got 2 CBA Mastercards and note the the fees have been in place since before June. I only use the cards to purchase things like software online. Sure the 2.5% fees are there but their x-rates seem to be favourable on the day.
My CBA Debit Cards suck when it comes to ATM transactions here in Thailand. I have scrapped them in favour of having my money transfered in AUD to Kasikornbank by a friend thus getting the better 'Offshore' rate which is over 7% better than the 'Onshore' (ATM) rate at present. And that does not include the ever increasing bank charges on overseas ATM transactions. Any wonder the CBA share price is over AUD$54 and going up.
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Philrjones
- udonmap.com
- Posts: 443
- Joined: July 27, 2005, 6:14 am
Over the years I've noticed I always get a better exchange rate if I just transfer Aus $ to a NAB account in Australia and use the NAB ATM card in Udon when I'm there. I can see what's happening online in $ and baht withdrawn, but at the ATM I just see baht. Works the same with a Visa Debit card (same as a Visa but you're only spending the money you have in your account).
That way I don't transfer money to Thailand - at around $25 to $30 per time plus a lower exchange rate. The account costs $3 per month, $1 for a balance enquiry in Udon and I think $2.50 for a withdrawal. Needless to say I keep the enquiries and withdrawals down to a minimum and I'm well in front.
Actually this is how I give the TG money - I only place enough in the account that I can afford to lose!, she has the card, and I have control because the account is in Australia. Any funny stuff happening, and I can stop the card with the NAB in an instant. Must say, she's great with it and knows about the fees for enquiries and withdrawals and never lets it drop below about 1000 baht. Previously I was sending funds to her account at a cost of $27 per time, twice a month. Stupid me! Ah well, experience is a great thing.
Cheers
Phil
That way I don't transfer money to Thailand - at around $25 to $30 per time plus a lower exchange rate. The account costs $3 per month, $1 for a balance enquiry in Udon and I think $2.50 for a withdrawal. Needless to say I keep the enquiries and withdrawals down to a minimum and I'm well in front.
Actually this is how I give the TG money - I only place enough in the account that I can afford to lose!, she has the card, and I have control because the account is in Australia. Any funny stuff happening, and I can stop the card with the NAB in an instant. Must say, she's great with it and knows about the fees for enquiries and withdrawals and never lets it drop below about 1000 baht. Previously I was sending funds to her account at a cost of $27 per time, twice a month. Stupid me! Ah well, experience is a great thing.
Cheers
Phil
I use ANZ credit card, but before I leave home I put a couple of thousand in as CREDIT, and as I with draw it there are no fees applicable because its my money not theirs. Every month when I send child support I send it in AU$, the difference is an extra Bht2.000 per month at the moment even though it costs me $30 to send it. By the way, I sent money on Wednesday at 10.30 am and the money was in the Thai account at 11.30 by electronic transfer 
not bad really 
not bad really