How much can I withdraw at any one time. Thailand

Hi,
I should know this, But off to BKK soon, I’ll have approx £8,000. On my card but I will use it to pay for something medical.
Thailand company wants (Fiat) Cash, OR +2% if I Pay by Credit card, Even debit card.

So what is the daily limit I can withdraw at an ATM ?
Could I withdraw a much larger amount at a bank?
Is there a limit to that IF it’s possible?
Thanks

Depending on your plan you’ll pay 2% to :r: after 200, 400, 600 € or equivalent. I’d just pay with card and avoid the hassle and so much cash is not clever anyways.

Also, yes: your questions keep being FAQ trivia or a simple search.

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Get Metal so you can get the 1% cashback and just absorb the 2% fee that you pay.

You’ll have to pay a large currency conversion fee for 8k in a month + ATM withdrawal fees w/o Metal anyways

Can you also pay by bank transfer? Then Transferwise would also be a possible option to avoid fees.
edit: the 8k might be too much and have the AML algorithm flag you. better check with the support beforehand.

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Take GBP to Thailand and exchange there? Or is there some stupid limit imposed by law which you cant get across borders? These new AML laws create many problems for normal people :frowning:

You do not get the Metal Cashback from ATM withdrawals. Or did you mean something else?

Worthwhile site
Customs, currencies etc

Pay by debit card :+1: not withdraw from ATM

I agree. Honestly it’s a waste of your time. Because some ATMs have a limit on the cash value per transaction per day/week/month, some impose an arbitrary limit on the total number of bills per transaction. So you might have to do several withdrawals from different cards over a number of days to withdraw the value you need.

Regarding your idea to bring they money with you… just don’t do it. You must declare the money to the UK authorities 72 hours prior to departure, to the authorities in all countries where you transit, and finally, to the Thai authorities. And the money could be seized at any point in time. So just don’t do it.

maybe then use something like western union (to send money to yourself, when arriving in Thailand)?

That is like the worst idea regarding the involved fees

OK, I agree - just checked in WU website, if you send 4000gbp and cash out it in Thailand, then you loose about 126gbp in fees compared to xe.com exchange rate.

Literally just get metal and then pay by card… it’ll be cheaper than withdrawing from ATMs or sending by WU.

The cashback (~80£) doesn’t even outweigh the cost for metal so unless other benefits would contribute to that, it is probably not worth it (not to forget the 0.5% markup over the free monthly exchange limit for standard users that does not apply for premium and metal users) .

Transferwise costs about 50£ to have ~8k £ converted to THB. This might be significantly cheaper than 2% fee due to card payment + 1% exchange markup on THB by Revolut + 0.5% markup for amount over monthly free limit.
At worst there’s even another 1% markup due to transaction “outside foreign exchange market hours”.

Currently, Sunday 23 February 2020, 8050£ would result in:

  • 327,294.73 THB on TW (+1.59% compared to Revolut)
  • 322,141.73 THB on Revolut
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