Money exchange, ATM

[bernyx]

Have not been to Thailand in a couple of years, know it's pretty hard to avoid the big ATM fee, heard something about some banks will do over the counter withdrawal on your ATM card (USA), is that correct, if so which banks, thanks

[KhunBENQ]

Moved to banking forum.

[JamJar]

Nope. Most will refuse debit cards. Credit cards, yes.

Bring cash, large denomination bills.

 

Which locations for your destinations?

 

[bernyx]

bangkok, pattaya

[tonray]

46 minutes ago, JamJar said:

Nope. Most will refuse debit cards. Credit cards, yes.

Bring cash, large denomination bills.

 

Which locations for your destinations?

 

And credit cards are typically going to charge you as a cash advance with a 3 to 5 % fee. Much higher than ATM fee for most withdrawals

[JamJar]

7 hours ago, bernyx said:

bangkok, pattaya

 

Bangkok you can use Bank of China ATMs if you have a Mastercard.

In Pattaya, use the cash you brought with you.

Of course if your card provider levies and forex fees or ATM cash withdrawal charges, just bring cash.

[Pib]

It going to vary from branch to branch (of any bank) as to how receptive they are to doing a counter withdrawal which they routinely refer to as a cash advance whether you are using a debit or credit card.  

 

I do counter withdrawals with both a U.S. debit and credit card.  The credit card I use has no cash advance fee nor foreign transaction fee and the debit card I use has no foreign transaction fee--basically I use fee-free cards.   The Krungsri Bank branch I currently use accepts both debit and credit card.  But the Bangkok Bank branch I occasionally use accepts only a credit card; for the debit card they just point you to their ATMs.

 

And other Thai banks will have different policies like I think SCB will do counter withdrawals but use their Dynamic Currency Conversion (DCC) exchangerate....that is, this "their" local rate for a DCC transaction which is approx 3% lower than the Visa/Mastercard rate.  So, basically it's an indirect fee where they make a 3% extra profit which means it cost you 3% more to do the exchange....you get 3% less baht per home country currency exchanged.

 

And I've read a "few" posts over the years where a branch would do a counter withdrawal but still charged a Bt220 fee just like the ATM would.   

 

Yeap, it will vary from bank to bank and branch to branch as to their counter withdrawal policy....all you can do it go try different branches.

 

Edited September 27, 2017 by Pib

[bernyx]

i guess travelers cheques is another option, but haven't even tried to obtain them in a while, the exchange rate I guess is a little better and they charge 150 baht?

[Pib]

1 hour ago, bernyx said:

i guess travelers cheques is another option, but haven't even tried to obtain them in a while, the exchange rate I guess is a little better and they charge 150 baht?

Bt153 to be exact....Bt150 fee by the bank plus a Bt3 govt stamp duty for a total of Bt153.  The Travelers cheques exchange is  approx 0.1 baht/USD less than the TT Buying Rate used for incoming international transfers which is the highest rate given.  

 

Also, for those branches who will exchange travelers cheques it will take a little while as the copy each one, copy your passport, and possibly call in to confirm the traveler cheques numbers are not listed as stolen/lost.

 

A person can use below website to get a good idea  of varies exchange rates at various Thai banks.

https://daytodaydata.net/default.aspx