Pins in Thailand
By TheoThai
Now that the euro is so low and you get about 20% less money when exchanging the euro for the Thai baht, a number of people who have settled permanently in Thailand are experiencing financial problems.
The euro is indeed low and you get a lot less money at the banks and exchange offices than before. The expectation is that the euro will continue to move at this level for a long time, if not permanently. But I don't want to talk about that. I also do not want to talk about holidaymakers and expats who also suffer from the low euro.
Maximum cash withdrawal with debit card
For a change, I would like to talk about the maximum cash withdrawal when using a Dutch bank card abroad, especially in Thailand. This seems to amount to a maximum of 500 euros per day, at least at ING it is. At the current rate of about 40 baht for 1 euro, this would amount to a daily withdrawal of about 20.000 baht per debit card transaction. You can therefore withdraw a maximum of 20.000 baht per day from a Thai ATM, provided you have sufficient euros on your current account in the Netherlands. There are people who complain about this and would like to include more.
Pay for pin transaction
In addition, I also come across reports from people that they can only withdraw 10.000 baht at a time, while this should be about double. In the latter case, the bank in the Netherlands can do little about it. You should complain to the Thai banks that apparently have set a kind of limit - ceiling - to pins with a foreign card. One reason could be that since March/April last year, Thai banks also ask for money for a debit card transaction. And that's not wrong. For each pin transaction you also have to pay the Thai bank an amount of 150 baht. However, I want to leave this for what it is and limit myself further to the group of people - say those who live there - who would like to withdraw more than 20.000 baht per transaction.
Big purchases
The case may arise that you have to make a large purchase once and need more than 20.000 baht for that. If you do not have a Thai savings account on which you have a kind of "buffer", you should look for another solution to realize the purchase. Consider, for example, installment payments that you could possibly make per day or that you are trying to get a loan from a local bank, whether or not under surety. Another possibility is that you make an extra debit card payment every week and deposit the extra debit card amount or a substantial part thereof into a profitable savings account. If you would do this every week on an annual basis, you would have a nice amount of Thai baht in your savings account after the end of that year. So there are options to deal with this problem.
Your holiday to Thailand usually starts with booking a flight to Bangkok (BKK). But what should you pay attention to and how do you score the cheapest ticket? We'll give you a few tips.
No high costs
What are the daily needs in a country like Thailand and what are the costs thereof. Do they exceed 20.000 baht daily? A person who has settled permanently in Thailand often owns a rented house or owns a house. The rental prices are not too bad compared to the Netherlands. For less than 500 euros a month you have a beautiful villa. Depending on consumption, you will not spend more than 100 to 200 euros per month on the other fixed costs. And let's be honest, the food doesn't cost much either. Whether you eat Thai or European, it doesn't matter. For an amount of 1000 baht – 25 euros – you can take the whole family out for a decent meal.
500 €
So why should the maximum amount that is allowed by Dutch banks to withdraw money in Thailand be increased? I really would not know. Also for security reasons, I would consider it advisable to keep the maximum amount that can be withdrawn per day at 500 euros. And let's be honest, who spends more than 500 euros in a day in Thailand? Even if you were at the Marriott hotels or stay in a comparable "tent", then you really will not get a daily spending of more than 500 euros. So as far as I'm concerned, the maximum amount that can be debited per day can remain at 500 euros.
That 150 baht per transaction is a thorn in my side. A disguised form of tax, very unfriendly to tourists.
In addition, people are going to withdraw more money and then carry too much money with them, with the risk of loss and theft. A truly anti-social measure that the Thai government should never have allowed.
There is only one bank AEON that does not charge 150 baht per transaction. The flapper is against the wall of Homeworks on Sukhumvit, next to BIG C.
Since the Euro has long been below 40 bth. state and also the 4 euros or 150 bth. costs are calculated, this means that you do NOT pay 20000, = bth. can pin only 10000, = bth., this then 4 times a month will soon cost you 600, = bth. or more greetings.
I don't know if the Thai government is behind this. I think it's just an action by the banks themselves; just get the farang some extra paddles. They have way too much of it anyway and the poor ailing Thai banks could really use it!
In addition, you also pay to your Dutch bank for pinning. I have never heard of ailing Thai banks. How could it be otherwise with an interest on your savings account of 0,75% per year. You also have to pay 15% tax on that.
You are not well informed, first of all you do not receive 0,75% but only 0,50% interest on a savings account. (I think it was introduced more than a year ago)
You do not pay 15% tax on the interest paid, you only pay 15% tax if you receive a higher interest payment.
@Namphoe. I just checked with my bank. This is a three-month deposit account with an annual interest rate of 0,75 percent. I do have to pay tax on that. This does not apply to a 'normal' account.
The amount of interest they pay on a savings account is an indication or confirmation that the Thai banks are distressed. Why else would they pay such a low percentage in interest? I just think it's pathetic. Perhaps they can send Nout Wellink to Thailand to save things there, as he recently did here with the DSB.
there is a reason why - if still in a favorable mood - it is max 20.000 THB (and sometimes 10.000): the Thai ATMs can only dispense a maximum of 20 banknotes at one time. So if the gray 1s are gone and there are only purple 1000 left in it, it's max 500.
Incidentally - when the THB was even lower, or € higher - the maximum (ING / POstbank) was also 20.000 = then around 400 €.
For those who, for example, need a lot of cash for a ticket or the like: a detour is via your credit card/VISA, and put money on it FIRST in NL (never take out credit!) and then withdraw - you can also still do so at the counter and with signature - then any amount is possible. most Thai banks don't seem to charge that 150 Bt, VISA asks 1,75 or 1,80 in costs - but does charge 1, 1,5 or 2% (depending on the type of account) surcharge in the exchange rate.
ABN AMRO gives a limit of 500 outside Europe, but only if the EMV chip can be read. If not, it will be up to 300.
It's a matter of adjustment. The bank apparently benefits from multiple transactions being carried out. It always yields them the amount of 150 baht per transaction. And the Dutch banks love it too. At ING – that's where I bank – you pay a fixed amount of 2 euros per transaction, depending on the payment package. As if it were not enough, they add a fixed rate surcharge of 1% on the amount withdrawn. So you have to spend an amount of between 7 and 8 euros in costs for a simple pin transaction of 200 euros.
The cheapest way and fast is to transfer money from your NL account via internet banking, I have been doing this for years.
The AbnAmro charges 5,50 euros for a transfer and with a booking in Th you pay a minimum of 200 and a maximum of 500 thb, transferred on a working day to your th account the next morning at the then applicable exchange rate. Always transferring euros are converted here into Th baht. I never withdraw money here via an ATM, for emergencies I use my master card
Indeed Namphoe, this is also a way to get your money cheaply. I assume you have a Thai bank account and therefore also a Thai debit card. Pinning with a Thai bank card to withdraw money from your Thai account is free of charge and for your bank card you only lose 200 baht on an annual basis.
Nice and nice, but this is only cheaper if you transfer a lot at once. And you don't think that I will suddenly transfer 2000 euros to the family in Thailand. That's the same month.
Dear Thailand visitor,
But of course you should not just transfer the money to the family you think you have in Thailand. When transferring, you must include a note stating that the money does not have to be spent immediately. There's a good chance that when you get there, there will still be an amount of 300 baht - sam loi in Thai - left. And when you hear that the buffalo has suddenly become very ill and the roof has almost blown off due to rain and wind, then you really don't mind that the family has to pay a large part of the amount you actually paid for your holiday. or accommodation was intended to cover the (non-demonstrable) costs of the buffalo doctor and the roof specialist.
Transferring money from bank to bank is nice and nice, but you have to wait and see what the exchange rate is the next day, and it decreases every day.
A friend of mine lost 30.000 baht like that.
Oh well, let the poor hardworking boys from the bank also earn a few bahts / Euros, they are already having such a hard time 🙂
Hello everyone, does anyone have any idea what the future of the Euro is?
I actually have to change, but at this rate I don't really like it, waiting on the other side and getting an even lower rate is not a pleasant prospect either.
Dear Pedro Ollanda,
Look, man, if you want some advice on the future of the euro, I'll have to buy another “orb” and some incense and other trinkets. So you will have to move a bit for the “advice”. It is also allowed under the table.
But hey, all kidding in a jar. It is really impossible to predict what the euro will do. If you listen to the messages on RTLZ then you should be concerned, at least take into account a lower rate than is currently the case. Confidence in the euro as a stable currency is much less than it was about six months ago. And you can guess once what that is about.
Thanks for this great advice, go transfer a million baht to my in-laws right now Ha Ha!!
Well, you can also take euros with you and exchange them on the black market in bangkok. The rate is often 2 baht higher. And that can add up quite a bit.
So give me a tenner!
Don't spoil it dude, but the name is indeed Bloomberg. In addition, I do not know any ladies in Thailand, but only Ladys and they are a degree higher than the ladies you are apparently referring to and aiming for. Never mind dude, just good friends.
Hey Bloomberg dude, you must mean Ladyboys.. Ha Ha !!
VAT in the past could indeed exchange money on the "black market", how it is now I don't know 'dude' Thailandganger was right .. (dude)
just switch at superrich in bangkok behind big c
success
Dear Thailand visitor, they have never heard of it in Bangkok. They don't have a black market there.
I don't know what people in Thailand do and don't hear. And I don't know if it's called black market either. All I know is that it still exists and outside the banks you can exchange money very easily in Bangkok and you can get better rates.
I cannot estimate for you what risks you run. But you get a better rate, you have no transaction costs, no bank costs, no PIN costs on the Thai side and no surcharge on the exchange rate like ING does. So the difference is quite significant.
And all you have to do is withdraw your holiday money from your own bank. The question you should ask: is it worth it to you and do you dare to walk down the street with 1500 euros holiday allowance in your pocket?
Don't tell Pedro, or I'll fall off my pedestal, but you're absolutely right, in fact, you're all right. I'm going to take a nap now, good night.
I'll join again tomorrow.
Hey Sam Loi, Did you sleep well ??
I was a bit corny yesterday….Koh Toht Krab !!
I thought it was fun.
All very interesting. Every day I see the farang walking down the street here, flat broke. In the Netherlands they count themselves rich with their meager allowance, but now it appears that even the Thais turn up their noses at it. Take a good hotel about 1000-1500 paddles, extra coffee, lunch, dinner, drinks, visit to the P.Dr. you name it, what the hell do you do with those rotten 1000 euros, which you have to wait for every month. That way you fall through the basket, or you have to rent a dirty cage, and eat that prison food. That shit about a bank charging commission, if you get sick of 150 bats, what should you thai fm. then don't start thinking?hahahahahaha
If you spend money so easily and are condescending about, as you say, the meager old-age pension… I want to help you though. Just deposit it into my account every month or pass on my account number to your account at the SVB. Then at least you don't have to feel guilty when you look condescendingly at that farang who stumbles across the street and who thinks about 150 baht he has to pay at the ATM.
Indeed Thailandgoer, I can agree with your comment. Leo would see the farang walking down the street every day, broke. Is he clairvoyant I wonder? Or has he asked the passing farangs to empty their pockets one by one? How is he so sure? I'm curious about his reaction. There are many who also have a company pension in addition to their state pension. Together they have a good income and can live very well. In addition, I believe that with a monthly income of 1000 euros you can live well in Thailand.
A Thai farmer has 5.000 baht a month if he is lucky. I don't think Thais will turn their noses up at a state pension of 1.000 euros. Bit short-sighted of Leo.
I do think that life in Thailand has become considerably more expensive. With 1.000 AOW you will have to deny yourself some things. The question is whether the Thai friend and her family will understand a farang with less money. But then you know right away whether they are 'decent' Thai.
I think Leo means that many Thais think that the money comes in with large flows. Many people in NL can also get by on 1000 eu, but you really can't get by with a nice girlfriend. Leo probably thinks of a room with a fan, cockroaches, located above a run-down superfluous bar! A little steak with drinks and coffee can easily cost 5-750 baht. Take your girlfriend with you every day, then I won't talk about the rest of the "followers" and see how you come out. Many take a take money with you, they are quickly cheated, and after a while they also know it. But all right, leo probably has it a bit more spacious.
Yes, you can get by reasonably well on 1000 euros, provided you keep your head up, and don't take a permanent girlfriend, were it not for the fact that the same 1000 euros is now only worth 800 euros.
Life is not all that cheap, and if you add the many external costs, transport, visa runs, pielemoos doctor and what not more ... then it quickly adds up, I still have memories of that 150 baht pin withdrawal never pressured.
However, taking a room for 1500 baht a day and a thick steak, I'm not going to start on that, a condo of 30/35 Square meters on a monthly basis seems a better idea.
But of course if you have enough money then it doesn't matter
I know that many farangs do indeed live in rat holes, with shit against the walls, with less than 5 baht in their pocket begging from other farangs, it is a mystery to me that people want to live like this. Then go back to where you came from.
I'd be ashamed anyway
I can partly agree with your story, I make it a bit more colorful myself, I always revolve around figures with money. I laugh a bit, what else can I do?
Slankie, you just do it, I call that blabbering.
am I smarter, my thai girlfriend earns a good living. She is a government employee, high position. I can even say with certainty that she loves me, she even gives me money when I go out. She has more diplomas than my entire family in NL together. She also owns a lot of real estate, such as rice fields, factories, import companies, how did I find her, because, according to my ex mother-in-law, I'm not that pretty at all. My family is now considering their poor exchange housing for a condo in thailand, we have enough. I've got that right, right? Well enough, I'll continue dreaming.
Yes, and I'm in a relationship with Angelina Jolie Ha Ha!!
Well I think it's just a strange story. I do understand Sam Loi, after all, it's constantly 35oC. That Frank, is that maybe Anne's fam?
Well, I don't think so, but there are quite a few Israelis. Big noses, etc
I have my own house, I still have to make some repayments, these are normally covered by some Thai houses [new construction] in Isaan, first they were in line, now empty for 2 months [2000 bp/m] so now they cost me 4000 in the month, electricity 2500 here in Pattaya, water incl. drinking water 500, 2 health expenses covered. 5.500 pm doctor's visit [loose] + medicines 1000 bp/m, car incl depreciation 5000 pm, food 2x Thai food for 80% 10.000 pm, my drink 10.000 pm, boehdda woman 1000 p/m, garden 1000 p/m. other costs, repairs, visas, etc. 2000 p/m. This is already more than 40.000, so 1000 euros and I must have forgotten quite a bit, such as an evening out or eating out. If you go to NLD once a year, add another 1 baht per month and you're already at 7000. I have based this on the old change avg. 50.000 baht/euro, so add another 48%. So with 20 euros + bank charges, you have to live frugally!!! I assume that I now need 1000 euros [fortunately I do]
Isn't there anything to cut back on, Huib? The biggest item is the drinks, while mothers only spend 1000 baht on Buddha. You could drink a little less, but that doesn't seem like a good idea to me, you could also think about convincing mothers to convert to Christianity. As far as I know, that joke won't cost you anything and especially now they could use some extra souls and maybe the pastor will give you a gift voucher. But it only earns 1000 baht a month. You could also consider eating Thai food once a day, but that doesn't seem like a good idea to me either. And biting down on a piece of wood in the tropics can be quite tough. In short, Huib, it doesn't look good. Should I send a flotilla of relief supplies there? Another nice football afternoon.
I didn't come to Thailand to cut costs, did I? In Thailand you have to enjoy, good food, not that Thai mess, but western food. Decent wine, red and white, nice beer. Let those Thai in-laws continue on their own level , they are used to that. If I were lying on the G, I would go back immediately.
When I'm in Thailand I only eat Thai. Why? Because I like it so much and it's very fresh. And besides, it costs very little. So double the fun. So I don't have to buy an expensive ticket to Thailand to eat western food there. Might as well stay home. Picking up a piece of meat at the supermarket, which was brought into the country from Africa or China in a frozen state more than a year ago, and of course, it should not be missing, a jar of real Dutch kidney beans that were also put on the market a year ago. In short, I choose nivo and therefore Thai food.
@ Sam Loi, You take the words out of my mouth, nothing beats the delicious fresh Thai food. It's just delicious! 😉 Not to mention the FRESH fruit!
20% less!!! That's a lot and of course you're bummed about it. Unfortunately we can't make it any other way and we have to row with the belts we have. I myself simply spend less and limit myself to what is necessary. If only you could live right? Moreover, everything is better than sitting in Europe, we can't eat out there with 6 people for 20 euros. And shopping wisely is a good tip, even in Thailand it can often be cheaper.
Just like Sam loi I only eat Thai, (also in the Netherlands), I'm completely addicted to it.
I have to shake my head when I see those Dutch people who have their suitcases full of jars of peanut butter, THE coffee, and so on. I eat for 100 baht a day, try that in the Netherlands.
But I do have other expensive hobbies. Sob!!
Anyway you have to leave one thing in order to do the other, and Hooray!! the bath is recovering a bit.
Peter, now you make me curious about your other expensive hobbies. Hobbies that are also expensive in Thai or even more expensive?
Well johnny if I tell you that, then the editors are ready to sencor again, as far as you didn't know it, only "neat gentlemen" come to this forum
I don't understand it, I pin at the AEON located in the TESCO-LOTUS
I don't pay 150 bath there if I pin, the rate is the same as with
the other banks.
so if you don't feel like paying that 150 bath go there!
But all I get is 7.000 baht and no more out. at a time.
Withdrawing Baht, 20.000 is impossible with this rate plus the costs of the Thai banks (Baht, 150). That is not the fault of the Thai bank, but the Dutch one (limit of E.500)