Thai Banks learning from US banks FOREX Foriegn Exchange

It was not that long ago most of the banks in Asia had where you could withdraw money fee free, then you were just getting hit with the credit card fees that your bank was charging you, which for some people like the ones that the fees would mean nothing to, the ones with lots of money in the bank or the ones from special interest groups like the US government savings and loans, would not get hit, but all other’s would get creamed, finally in the US the banks are getting ready for the new Credit Card law to come into effect in Feb 2010 which will even out the field for a while.

Last night I needed cash and noticed that the banks all said you could pull out large amounts, but they would refuse the large amount and only give you a smaller amount, well makes perfect sense if you are the bank, and you are getting 150 baht per transaction, which hey its only 150 baht, but that my friends these days in nearly $5 USD per transaction, not even the crooks in the US are that high. So on 10,000 baht you are paying the Thai Banks to pull your money or 1.5% now at 20000 baht that is .75 but better yet 30000 baht would be .5 even better for you but hey lets take more because we can just like the US Banks. Now of course don’t forget between the US and Thai banks they give you a horrible foriegn exchange rate why because they can and there was a class action suit about this CCF Class action that the credit cards lost but guess how much of the money that they lost in the lawsuit that they have paid to the members of the class action suit That’s right you guessed it the first time the banks don’t pay penalties they only charge them.



http://www.cheap-lawyers.us/blog/2009/10/credit-card-accountability.html