Cheap way to withdraw cash from a card in Thailand. Western Union Transfer Discounts
April 3, 2019
What is the fee for withdrawing cash from a bank card in Thailand?
In Thailand, you can use your bank card to withdraw cash from an ATM. Everything is quite simple there – the main thing is to switch to English (or your native language) at the very beginning.
And one more important note – many banks have three types of ATMs! More precisely, the real ATM among them is only one – the one on which ATM is written. Other ‘ATMs’ can accept cash, issue passwords for online banking, update entries in the passbook.
In general, the cash withdrawal procedure is similar to working with ATMs in your country. Unless, one thing that can be confusing: the ATM asks what account you have. At this stage, you need to select the Saving/Deposit account (like so, I write from memory). It seems that sometimes there is a variant of Default – it also fits.
You enter the amount you want to withdraw in baht and get Thai Baht. But the commission is rather unpleasant. I remember the times when the ATM commission was 150 baht, and my national bank commission was completely absent. These “good old days” are over. Now, commission at ATMs of Kasikorn is 220 baht for any operation, regardless of the amount! And my bank commission for the withdrawal of 15,000 baht + 220 baht of the commission amounted to about 150 baht. That is, for the withdrawal of 15 thousand baht, the commission amounted to approximately 370 baht. Calculate the percentage:
370/15000 * 100% ≈ 2.5%
Not to say that it is already robbery, but quite a lot. Moreover, I considered the most minimal commission: my bank does not allow to withdraw a little more than $500 in a foreign ATM, that is, the commission can not be less. But at the same time, if you withdraw a smaller amount (for example, 7.000 baht), then the commission will be the following:
(220 + 80) / 7500 * 100% ≈ 4%
Even worse, since the ATM fee (220 baht) is always a fixed amount, the smaller the withdrawn amount, the higher the “transaction costs”.
But this opportunity is there and we will be grateful for it.
Western Union Transfers To Yourself
In the article “How to send money to another country cheaply,” I mentioned about PaySend. There is a small commission, but the problem is that: 1) you need a bank account in Thailand, where to send money; 2) Thai banks commission for transfers from abroad is 300 baht regardless of the transfer amount. PaySend currency rates are fairer. So with PaySend we can get benefits compare to Western Union only when we send a big sum.
By the way: maybe you just need the PaySend promotional code (for free transfer), here it is: 0d8425.
But Western Union transfers can be done online, and the commission is only 1%! Additional commissions from banks are missing (but Western Union commission is included in currency rates) – you just need to come to the Western Union service point with your passport.
Western Union Transfer Discounts
But that's not all! This 1% can be reduced! If you regularly make transfers of Western Union, then accumulate points, which include a discount on the transfer.
What is SMS from My WU?
If you have already made a transfer via Western Union, then you might receive something like an SMS message:
You need to accumulate 510 points to get a 10% discount on the transfer fee. Balance points on wu.com/mywu MyWU #xxxxxxxx. See tariffs WU. Stop SMS: wu.com/sms
The site wu.com belongs to the Western Union system – it is used for short links and will immediately redirect you to one of the Western Union sites, for example, on westernunion.ru. If you are already registered, enter your details, or use the MyWU number to sign in – this is the loyalty ID.
In your account you will see the number of points collected.
How to get points Western Union / How many points give for the transfer?
The curtain rules depend on the country you are from. All in all, for any transfer you will get My WU Reward Points. The more money you transfer – the more Points you will get.
Western Union Promo Code
Western Union has an affiliate program and, possibly, codes can be distributed by partners. I managed to find the Western Union promo code only on the Australian site Western Union, this is the FIRSTFREEAU promo code. It allows you to make the first transfer with a zero commission. I do not know if it is suitable for us. You can also try to make a promotional code by analogy: FIRSTFREEUS
Let's quote from the official disclaimer:
Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.
It is probably naive to think that it does not exist when withdrawing money from an ATM – but just in case, remember this too – we were honestly warned, and we ourselves should recount and recheck how it is more profitable for us.
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