Robinson Credit Card Alert

[Balthasar G.]

Yesterday I used my credit card to pay for some kitchen machines and utensils I'd bought in Robinson. The total amount was 10,899 baht. When I signed the slip I didn't see that they had charged me for the counter value in Euros (the base currency of my card), instead of Thai Baht.

I was not until I checked my credit card account this morning that I found that they'd billed me in Euros, and that the rate of exchange that they'd applied was about 2 baht lower for the Euro than the rate my credit card company would have charged me, so I overpaid more than THB540.
My wife used the oven last night to bake a cake so there's no way to return the goods.

So be careful when next time you use your credit card in Robinson. Tell the cashier specifically that you want to pay in Thai baht.

[parrot]

Not just in Robinson's......but many other stores as well. It's usually best to tell the clerk to charge in Baht only.

[ting_tong]

take it back? unless you are overly honest?

[Sakhonnick]

same scams everywhere, i rented a car in the UK from a UK website, credit card got charged in Aus $ dont know why but it did, poor rate and overseas exchange rate charges from my bank, i complained to the car rental company got a reply that it was my fault? who wins?

[Balthasar G.]

Not just in Robinson's......but many other stores as well. It's usually best to tell the clerk to charge in Baht only.

I use my cards a lot, but it's the first time this has happened to me.
The cashiers in Home Pro, for instance, ask you first if you want to pay in Euros or Baht, but I'm blaming myself for not having been more alert this time. That's why I'm warning others.

[Balthasar G.]

take it back? unless you are overly honest?

Take it back? No way! I prefer to save myself that emberrassment. The oven strongly smells of cake so it's evident that it has been used.

[parrot]

I'd chalk it up to a lesson learned living overseas. Like ATM charges, international transaction fees, transfer fees, 'loaning' family members money, and eating the right kind of street food. Sometimes we learn the hard way. In your case, it only cost you 500 or so baht.
Thanks for the warning!

[ting_tong]

take it back? unless you are overly honest?

Take it back? No way! I prefer to save myself that emberrassment. The oven strongly smells of cake so it's evident that it has been used.

I'll lend you 1000 baht anytime

I have a motorcycle shop that will take anything back within reason, I am friends with the owners son, they are "super Hi-so" I have to only return unused things if I bought wrong, if they thought I was tricky, end of friendship!

[jackspratt]

If you buy in TBH on a foreign currency credit card, aren't you going to get hit with a currency conversion "penalty" at the other (ie home) end?

And if so, won't it be close to the rate used at the point of purchase?

[Earnest]

Yes, I do.

Horrendous story, though. I use my CC in Thailand too and I don't check my transactions online as often as I should so I'll be checking from now on.

[Stantheman]

Thats why I say cash cash cash only in Thailand except for Airline tickets and Hotels booked online.

[parrot]

I use my VISA and AMEX card regularly......gas at PTT, Robinsons, Tesco, Global, Index, MK and OISHI restaurants, 3 weeks of vacation in BKK and Trang almost entirely on credit cards.
I check my account regularly......exchange rate is almost always within a tenth of the official rate for the day (if the official rate is 33, I'll either get 33 or 32.9) Sometimes 2 tenths difference, but I chalk that up to fluctuating exchange rates. For example: on 22 Jan I bought 1920 Baht worth of diesel.......my bank showed a charge of $58.55. That comes out to 32.79/$1. My records show the exchange rate for that day at 32.9.

[Laan Yaa Mo]

I always use My Robinson 'The 1 card' along with Visa or cash and have never encountered any problem like this. But, thanks for the heads-up.

[Balthasar G.]

If you buy in TBH on a foreign currency credit card, aren't you going to get hit with a currency conversion "penalty" at the other (ie home) end?
And if so, won't it be close to the rate used at the point of purchase?

No! This pratice is called Dynamic Currency Conversion. You pay extra for the convenience of seeing the local currency converted to your home currency:

The way it works is that Visa and MasterCard (but not American Express) allows their merchants to give foreign customers a choice of transaction currencies when they make a purchase. Those choices are typically the local currency and the home currency.

If you choose anything other than local currency, you pay a premium in addition to the exchange rate included by Visa and MasterCard and the foreign transaction fee charged by the bank which issued your credit card.

Seeing a foreign transaction in your home currency is a benefit for many travelers who don’t like to do the math while shopping, but it will cost you 3% or more for the convenience.

My personal view is that dynamic currency conversion is a sneaky way to squeeze extra money out of a consumer especially when overseas merchants refuse to process a transaction in local currency.
...
Bottom Line: Always choose to view your purchases outside the US in the local currency when paying with a credit or debit card because you’ll pay 3% or higher for the convenience of viewing your bill in your home currency.

http://millionmilesecrets.com/2012/08/0 ... -currency/

[kubotatim]

Beware this can also happen in Villa market, Home pro and many others insist on paying in baht only.

[AA Ins Broker]

If one wants to pay by plastic then use your Debit (ATM) card

[jackspratt]

If you buy in TBH on a foreign currency credit card, aren't you going to get hit with a currency conversion "penalty" at the other (ie home) end?
And if so, won't it be close to the rate used at the point of purchase?

No! This pratice is called Dynamic Currency Conversion. You pay extra for the convenience of seeing the local currency converted to your home currency:

The way it works is that Visa and MasterCard (but not American Express) allows their merchants to give foreign customers a choice of transaction currencies when they make a purchase. Those choices are typically the local currency and the home currency.

If you choose anything other than local currency, you pay a premium in addition to the exchange rate included by Visa and MasterCard and the foreign transaction fee charged by the bank which issued your credit card.

Seeing a foreign transaction in your home currency is a benefit for many travelers who don’t like to do the math while shopping, but it will cost you 3% or more for the convenience.

My personal view is that dynamic currency conversion is a sneaky way to squeeze extra money out of a consumer especially when overseas merchants refuse to process a transaction in local currency.
...
Bottom Line: Always choose to view your purchases outside the US in the local currency when paying with a credit or debit card because you’ll pay 3% or higher for the convenience of viewing your bill in your home currency.

http://millionmilesecrets.com/2012/08/0 ... -currency/

That seems pretty clear then - thanks for the clarification. =D>

[kubotatim]

If one wants to pay by plastic then use your Debit (ATM) card

It is not the same at all.!!! I use my credit cards very regularly, I always get a very good exchange rate with no added charges and it reduces the frequency of money transfers required to here, so to me makes very sound economic sense. nb always pay off when required to prevent any stupid high interest charges. So it costs me nothing and is very convenient. Any business here that doesn't accept cards is loosing out on my business!

[Whiskeybravo]

As has been pointed out, most U.S. based credit cards will hit you with a 3% fee for all foreign transactions, whether or not you are charged in the local currency or dollars. So, if the local merchant charges you in dollars at a rate well below the official rate, you get screwed twice. By the way, there are some U.S. financial organizations that don't charge the 3% fee. I'll be acquiring a Visa with one such organization when I next visit the U.S. You can add the Centara Hotel to the list of local businesses that will try to charge you in your home currency, and they do so at a rate at least two baht lower than the official rate.

[Stantheman]

For my use it Thailand, if I deemed needed, my Bank of America charges 2% for credit card and my USAA debit card charges 1% foreign transaction fee.