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Southeast Asia forum

Mastercard in Asia

Posted by chicoelnino on 5/2/2011 at 21:15

Am heading to asia in a few months and plan on using my mastercard which will be loaded with money from my current account via online banking(small amounts and then withdrawn).

I would like to know what countries in asia I'll have trouble withdrawing money from using my credit card?

My bank in Ireland has informed me that I'll only pay 1.75% of the withdrawal fee if I use the mastercard that has money in credit. Pretty good?

#1 chicoelnino has been a member since 17/9/2010. Posts: 66
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Posted by idreamofdurian on 6/2/2011 at 21:53 TF writer

The only country in Asia I've been to where there were *zero* ATMs is Myanmar. In Laos, Cambodia, Vietnam, etc. you'll find international ATMs in the major cities and the touristy towns. You just need to plan ahead and stock up on money if you're heading to a remote area.

I don't really understand your explanation about your withdrawal fees... Do you mean they'll only charge you 1.5% for international currency transactions?

#2 idreamofdurian has been a member since 5/9/2008. Location: Singapore. Posts: 576
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Posted by chicoelnino on 7/2/2011 at 00:47

1.75% is all I'll be charged for withdrawing.

So If I took out €500 I'd be charged €8.75 from the bank. I know local ATM fees also apply.

But only 1.75% the bank will charge me.

#3 chicoelnino has been a member since 17/9/2010. Posts: 66
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Posted by idreamofdurian on 7/2/2011 at 16:22 TF writer

OK, thanks for clarifying.

It's not the best rate I've ever heard of, but pretty good if you want to frequently take out small amounts of money.

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Posted by Captain_Bob on 8/2/2011 at 00:31

If you're talking about making credit card purchases the going commission in Thailand for Mastercard is 4% (Visa 3%)

#5 Captain_Bob has been a member since 27/5/2006. Location: Thailand. Posts: 1,871

Posted by chicoelnino on 8/2/2011 at 04:21

What do you mean the going rate is 4% for mastercard?

My bank will only be charging me 1.75% on any ATM withdrawals. And theres also a 150bath local ATM fee on top of that per transaction.

I don't understand what you mean by commission?

#6 chicoelnino has been a member since 17/9/2010. Posts: 66
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Posted by Captain_Bob on 10/2/2011 at 14:18

I mean if you use the card to make purchases (not using an ATM to withdraw cash) the seller will charge you an extra 4% for Mastercard (the card company charges this to the seller and they typically pass that cost onto you). Always better to pay in cash, just wanted to let you know.

#7 Captain_Bob has been a member since 27/5/2006. Location: Thailand. Posts: 1,871

Posted by chicoelnino on 10/2/2011 at 22:11

Thanks for that info Bob.............never knew that at all! 4% on top :O thats really really steep!

Well I hadn't planned on using the cc as a point of sale facility. I'll only be doing as you said and withdrawing cash from ATM's over there.

Thanks again :)

#8 chicoelnino has been a member since 17/9/2010. Posts: 66
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Posted by busylizzy on 11/2/2011 at 02:28

I would suggest that you use an ATM card rather than Credit Card. Carry your credit card as emergency back up, and for booking things online, but use ATM for cash.

My bank (NZ) charges 1.1% for ATM withdrawals, so it would pay to shop around. (Mind you, maybe that is just standard rate in NZ?)

Also - be aware that in Thailand you will also be paying an adidtion 150baht for EACH withdrawal. It's a charge from the Thai banks in addition to the % that you will pay your own bank. (Only happens in Thailand as far as I know). So it pays to pull as much cash out as you can each transaction.

#9 busylizzy has been a member since 31/12/2007. Location: New Zealand. Posts: 2,155
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Posted by chicoelnino on 11/2/2011 at 02:49

@busylizzy: My bank will only charge me 1.75% on the withdrawal amount, whereas if i use my bank/ATM card they will charge me 2.75% PLUS 1.5% cross border handling fee. So as you can see, using the credit card to withdraw cash is best for me. I'm from Ireland by the way.

So you reckon that its only in Thailand that your charged a withdrawal fee from ATM's?

If so then thats great news, as I thought it was going to be a case of every country charging you a local ATM fee.

#10 chicoelnino has been a member since 17/9/2010. Posts: 66
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Posted by Rasheeed on 1/4/2011 at 08:58

Since you are definitely coming to Banlung, Cambodia, I just wanted to throw it out there that the ATM here only takes Visa.

'sheeed

#11 Rasheeed has been a member since 4/11/2010. Location: Cambodia. Posts: 311
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