Avoid 220b ATM Fee

[Andycoops]

Worried about 220 baht.

What does your bank charge for the forex conversion?

If zero, count yourself lucky and stuff up the fee.

Banks don't do freebies anymore. 

[Rimmer]

A personal attack on another member has been removed also a reply to it, please see the following rule that you agreed to when you signed up to the forum:

 

7) You will respect fellow members and post in a civil manner. No personal attacks, hateful or insulting towards other members, (flaming) Stalking of members on either the forum or via PM will not be allowed.

[Media1]

5 hours ago, Laza 45 said:

Many millions of tourists come to the LOS every year.. how many cash withdrawal transactions every year at 400 Bt per??..   BILLIONS in easy money.. 

Yes one big Thai scam..forget Hub. Globally the slogan in land of scams. All legal

[thailand49]

5 hours ago, trainman34014 said:

I use three different Aeon ATM's in Chiang Mai and they all charge 150, including a brand new machine at one outlet only installed two weeks ago.  No problem with limits either, the only limit set is by my own British bank.

As noted, it has been January of this year that I had stopped using Aeon for the fact can't get the large amount.  It wasn't my card like the other guy who said my reason was B.S. this was what I was told by the HQ by phone in Bangkok that the new machine have been program not to provide foreign cards debit with larger than 5000-8000 baht one of those cards is Charles Schwab.  Since then I tried it once and got 5000 and when I went again 10,000 the card was returned.

Based on what is being said I will give it a try tomorrow and see what happens if it does provide the amount I request then I would assume the policy was changed due to complaints which I was one of them? I like Aeon been using their ATM for near 10 years, fee is lower, exchange rate is good hope it works tomorrow.

January, I wanted also to open a account and told them I wanted to transfer 10 million baht into their bank was told can't we aren't a bank we are a lending institution? 

Thanks

[JamJar]

20 hours ago, Medicine Man said:

Are you saying there are no fees to withdraw Baht using a Mastercard at their ATMs? I use a UK credit card that only charges interest on cash withdrawals in other countries

Yes.

[metisdead]

Argumentative troll posts and replies have been removed. 

[speedtripler]

8 hours ago, Media1 said:

Yes and your paying more because there exchange rate is laughable. They catch the unseasoned 

They used to give 100k thb per withdrawal  but unfortunately they dropped it to similar as the other atm machines 

[Grumpy Duck]

On 11/6/2017 at 6:21 PM, Tmacdadi said:

Charles schwab high yield investor checking account

 

unlimited ATM fee rebates worldwide.

 

imhave it and use it in Thailand.  End of month ATM fees get credited back to account.  Was 15 USD in October for me.

 

probably for american only, but not sure...

 

http://www.schwab.com/public/schwab/banking_lending/checking_account?bvrrp=Main_Site-en_US/reviews/product/4/1001.htm

My Pension and Social Security payments are direct deposited to Citibank US Priority account, no transaction fees no ATM fees at Citi ATM's worldwide 

drawbacks, limited number of ATM's in Thailand, plus requires a significant min balance or $30 monthly fee. (I was spending over $50 a month in foreign transaction fees every month) 

I will take ฿35,000 ATM withdrawals and deposit to my Krungsri account. 

[Grumpy Duck]

When I first arrived it was less than ฿200 ATM fee, then it went up to ฿200 now ฿220? The dollar exch rate drops and fees go up. Seems like it started 22 Jan 2017. Hmmmm

[Grumpy Duck]

I have a Thai friend working for an American Company here but is paid to a prepaid MC debit card. She went to SCB to withdraw cash, and the system had an error. Her ฿65,000 was tied up for 5 weeks for the authorization to drop off. 

[stevymac]

I got a nationwide bank acc anyone know how to get free withdrawal either from atm machine or in branch?


Sent from my iPhone using Thaivisa Connect

[AboutThaim]

I calculated it used to cost me about $40 to withdraw about $500 AUD from any ATM here.  That included the fee charged by my Oz bank, conversion to baht and ATM fee.  I started using Transfer Wise, opened an account (Kasikorn) and got a debit card.  Now the only charge is for transfer from Oz to my Thai account which is less than $10 for my pension.  Transfer Wise gives the market rate for exchange.  If my card is used away from the local area there is a 15 baht charge.

I did have a problem opening a local account until I told them I had to have money in a Thai bank to apply for an extension (as advised by the local IO). 

So if you are here to stay open an account and get a card.

[thailand49]

21 hours ago, thailand49 said:

As noted, it has been January of this year that I had stopped using Aeon for the fact can't get the large amount.  It wasn't my card like the other guy who said my reason was B.S. this was what I was told by the HQ by phone in Bangkok that the new machine have been program not to provide foreign cards debit with larger than 5000-8000 baht one of those cards is Charles Schwab.  Since then I tried it once and got 5000 and when I went again 10,000 the card was returned.

Based on what is being said I will give it a try tomorrow and see what happens if it does provide the amount I request then I would assume the policy was changed due to complaints which I was one of them? I like Aeon been using their ATM for near 10 years, fee is lower, exchange rate is good hope it works tomorrow.

January, I wanted also to open a account and told them I wanted to transfer 10 million baht into their bank was told can't we aren't a bank we are a lending institution? 

Thanks

I'm making my final statement regarding Aeon.  Another posted didn't agree with my experience so he said it was B.S. here it is a cowardly way of saying a person is a liar. I don't think anyone comes on to a forum give their experience in this case with Aeon clerks as witnesses then post because they want to lie.

Based, on a number of poster recent experiences with Aeon it had me curious so as noted I would make a attempt to withdraw money today from Aeon hoping that things have changed.

So in Pattaya, just 30 minutes ago, I put my card in, ask for 16,000 baht, it has been 10 months since I use Aeon and the fact is the fee is only 150 baht, I proceeded with the transaction and the Big difference from 10 months is instead of my card being split out after a few minutes and a response " system is down " it said PICK UP YOUR CASH!

I can't be anymore happier that I can now use Aeon again for a number of reason and that is thanks to this forum and the exchange of responses with a number of others who can read and post as adults instead of a particular individual who calls your experience B.S. because it isn't what they want to hear or have no mental ability to express themselves as a adult.

Thanks

[GreytMan]

On 07/11/2017 at 3:18 PM, stevymac said:

I got a nationwide bank acc anyone know how to get free withdrawal either from atm machine or in branch?


Sent from my iPhone using Thaivisa Connect

 

If you have a Nationwide Gold Classic or Select credit card, you should be able to take a cash advance over the counter at no extra charge.

 

Otherwise, you are a bit stuck. You cannot even use Bank of China ATM, as they might not work with VISA debit cards ans unless you have a FlexPlus account or have access to the FlexOne account, your debit card will have separate and additional charges.

[misterphil]

On 06/11/2017 at 8:55 PM, VBF said:

@misterphil As you're in Pattaya, to be clear, do you mean places like TT Exchange? 

Is it totally free of fees and do you get the standard interbank rate, for "x" amount of Baht or do they convert to home currency (UKP in my case)?  And that is a Debit card, not a Credit card?

Sounds almost too good to be true!

Any money exchange. Its charged to your credit or debit card as an overseas purchase. 

[VBF]

39 minutes ago, misterphil said:

Any money exchange. Its charged to your credit or debit card as an overseas purchase. 

That's useful to know - thanks 

[Pib]

58 minutes ago, misterphil said:

Any money exchange. Its charged to your credit or debit card as an overseas purchase. 

Cash being given by the money exchanger/bank using a "credit card" is processed as a "cash advance" and not a purchase.  And a cash advance usually come with approx a 3% additional fee from the card-issing bank on top of any foreign transaction fee the card might also charge.   Additionally, interest begins accruing on a cash advance immediately unlike on a purchase where a grace period may apply.   The amount allowed for a cash advance will also probably differ (be lower) than for a purchase transaction.

[watcharacters]

On 11/6/2017 at 9:43 PM, wimpy said:

I don't pay them either, but would prefer Schwab wasn't being hit with them. Always afraid they will get fed up, and stop offering that perk.

 

 

 

I agree about not over using the Schwab debit cards.    I therefore always withdraw 30K so as to limit my need for frequent withdrawals.

 

Don't want to bite the hand that feeds me.

 

 

[wump]

50 minutes ago, Pib said:

Cash being given by the money exchanger/bank using a "credit card" is processed as a "cash advance" and not a purchase.  And a cash advance usually come with approx a 3% additional fee from the card-issing bank on top of any foreign transaction fee the card might also charge.   Additionally, interest begins accruing on a cash advance immediately unlike on a purchase where a grace period may apply.   The amount allowed for a cash advance will also probably differ (be lower) than for a purchase transaction.

My bank only charges me a flat fee (5 euros) for cash advances. No % fee and no interest if you have money on your account.

[VBF]

2 hours ago, Pib said:

Cash being given by the money exchanger/bank using a "credit card" is processed as a "cash advance" and not a purchase.  And a cash advance usually come with approx a 3% additional fee from the card-issing bank on top of any foreign transaction fee the card might also charge.   Additionally, interest begins accruing on a cash advance immediately unlike on a purchase where a grace period may apply.   The amount allowed for a cash advance will also probably differ (be lower) than for a purchase transaction.

Oh!

You and @misterphil seem to think the exact opposite of each other, so i'm still in the dark unless I try it for myself I suppose. 

[Pib]

8 hours ago, VBF said:

Oh!

You and @misterphil seem to think the exact opposite of each other, so i'm still in the dark unless I try it for myself I suppose. 

Getting a cash transaction (i.e., getting cash or cash-equivalent issued at counter, ATM, etc) on a "credit" card and it's processed as a "cash advance" when it hits your credit card account.   Now the layman's description hitting your credit card account it may just say "X-amount for something at a certain location" but the underlying network coding identifies the transaction as a cash advance. 

 

Then it's handled in accordance with the card-issuing bank policy for cash advances versus a purchases.   "Most" card-issuing banks charge an upfront cash advance fee which seems to usually be 3% but some may do a flat fee and/or percentage fee.....and a few do not charge an upfront fee or foreign transaction fees like a couple of  credit cards I have which do not charge a cash advance fee of any kind...flat or percentage fee.   

 

For a couple of years I used these credit cards to do counter cash advances at Bangkok Bank and Krungsri Banks for up to $2,000 per day/transaction which was the limit set by the card-issuing bank for cash advances....try to get a baht more than $2,000 worth and the transaction would reject.  However for purchases the limit per purchase was much higher. 

 

To avoid any interest from immediately beginning to accrue I prepaid the cash advance or paid it same day I did the cash advance.   Did this at least a dozen times since it allowed me to get $2,000 per withdrawal versus my debit cards which had a $1,000 daily limit plus use of the credit card prevent the Thai bank from getting their ripoff Bt220 fee.  But Thai bank now are beginning to charge a Bt200 fee even for counter withdrawals...Krungsri started around Oct 17 or so.

 

Go to the website of your card-issuing bank to review the terms and conditions for a cash advance associated with your credit card....and you may have to contacting them directly to determine what the daily cash advance limit is as it will probably be different from the daily purchase limit.   And maybe just surf to a couple of website that issue credit cards and review their policies for cash advances....you'll see the fees associated with a cash advance is difference from a purchase.

 

From good ol' Wikipedia giving an layman's description of a credit card cash advance.

Quote

 

A cash advance is a service provided by most credit card and charge card issuers. The service allows cardholders to withdraw cash, either through an ATM or over the counter at a bank or other financial agency, up to a certain limit. For a credit card, this will be the credit limit (or some percentage of it).

 

Cash advances often incur a fee of 3 to 5 percent of the amount being borrowed. When made on a credit card, the interest is often higher than other credit card transactions. The interest compounds daily starting from the day cash is borrowed.

Some "purchases" made with a credit card of items that are viewed as cash are also considered to be cash advances in accordance with the credit card network's guidelines, thereby incurring the higher interest rate and the lack of the grace period. These often include money orders, lottery tickets, gaming chips, and certain taxes and fees paid to certain governments.

 

 

[VBF]

55 minutes ago, Pib said:

Getting a cash transaction (i.e., getting cash or cash-equivalent issued at counter, ATM, etc) on a "credit" card and it's processed as a "cash advance" when it hits your credit card account.   Now the layman's description hitting your credit card account it may just say "X-amount for something at a certain location" but the underlying network coding identifies the transaction as a cash advance. 

 

Then it's handled in accordance with the card-issuing bank policy for cash advances versus a purchases.   "Most" card-issuing banks charge an upfront cash advance fee which seems to usually be 3% but some may do a flat fee and/or percentage fee.....and a few do not charge an upfront fee or foreign transaction fees like a couple of  credit cards I have which do not charge a cash advance fee of any kind...flat or percentage fee.   

 

For a couple of years I used these credit cards to do counter cash advances at Bangkok Bank and Krungsri Banks for up to $2,000 per day/transaction which was the limit set by the card-issuing bank for cash advances....try to get a baht more than $2,000 worth and the transaction would reject.  However for purchases the limit per purchase was much higher. 

 

To avoid any interest from immediately beginning to accrue I prepaid the cash advance or paid it same day I did the cash advance.   Did this at least a dozen times since it allowed me to get $2,000 per withdrawal versus my debit cards which had a $1,000 daily limit plus use of the credit card prevent the Thai bank from getting their ripoff Bt220 fee.  But Thai bank now are beginning to charge a Bt200 fee even for counter withdrawals...Krungsri started around Oct 17 or so.

 

Go to the website of your card-issuing bank to review the terms and conditions for a cash advance associated with your credit card....and you may have to contacting them directly to determine what the daily cash advance limit is as it will probably be different from the daily purchase limit.   And maybe just surf to a couple of website that issue credit cards and review their policies for cash advances....you'll see the fees associated with a cash advance is difference from a purchase.

 

From good ol' Wikipedia giving an layman's description of a credit card cash advance.

 

Thanks for that detailed explanation  @Pib- tbh I did actually know about the difference between purchases and cash advances, and I've long since shied away from using  credit cards for cash. My UK-issued Barclaycard charges silly amounts for that. I was also aware of the pre-paying strategy, which, interestingly is actually against Barclay's "rules". One is not supposed to pre-pay but of course the card issuer wants to make as much money out of their customers as possible so want us to have to pay interest. I of course, don't!

 

My confusion  was that reading what @misterphil said in post #75 "Any money exchange. Its charged to your credit or debit card as an overseas purchase." 

 

I mistakenly took to mean that somehow, the money changers were making cash advances appear to the card issuers as if they were retail purchases rather than cash advances..

 

That of course would be too good to be true which was why I questioned it.

[Pib]

Yea, when a merchant/bank/etc., process a transaction such as a purchase, cash advance, etc., there is underlying coding that is attached to that transaction that specifies what the transaction is for.    Predominately the Merchant Category Code (MCC) is the key identification as to the type of transaction.  Like for Visa some of the MCC dealing with disbursement of cash such as MCC 6010 for manual cash disbursement.....MCC 6011 for cash disbursement from an ATM.   Now you probably will not see this coding on the layman's description that hits your account; instead, you see something along the lines of the name of the merchant possibly, location of the merchant, etc.  All the underlying alpha/numeric coding is for the financial computers to do their thing in determining what kind of transaction it is such as a cash advance, purchase, etc. 

 

 

 

[Langsuan Man]

I like Pib have several US Bank ATM cards that waive the 220 THB foreign currency fee and  I use a machines that gives me 30,000 THB per pull

 

The biggest concern that I have is if the USD equivalent keeps going up I question how much longer this freebie will last, here for example,  are the reimbursement fees for my last three Fidelity transactions:

 

[misterphil]

On 27/01/2018 at 8:13 PM, Pib said:

Cash being given by the money exchanger/bank using a "credit card" is processed as a "cash advance" and not a purchase.  And a cash advance usually come with approx a 3% additional fee from the card-issing bank on top of any foreign transaction fee the card might also charge.   Additionally, interest begins accruing on a cash advance immediately unlike on a purchase where a grace period may apply.   The amount allowed for a cash advance will also probably differ (be lower) than for a purchase transaction.

Your wrong.

 

Ive done this many times before and its on my statement as a purchase, and my bank charges 0% for overseas purchases. 

 

 

[misterphil]

On 27/01/2018 at 10:37 PM, VBF said:

Oh!

You and @misterphil seem to think the exact opposite of each other, so i'm still in the dark unless I try it for myself I suppose. 

Yeah try it and see for yourself. If I have to sift through bank statements to prove these clowns wrong I will lol. 

[misterphil]

On 28/01/2018 at 7:22 AM, Pib said:

Getting a cash transaction (i.e., getting cash or cash-equivalent issued at counter, ATM, etc) on a "credit" card and it's processed as a "cash advance" when it hits your credit card account.   Now the layman's description hitting your credit card account it may just say "X-amount for something at a certain location" but the underlying network coding identifies the transaction as a cash advance. 

 

Then it's handled in accordance with the card-issuing bank policy for cash advances versus a purchases.   "Most" card-issuing banks charge an upfront cash advance fee which seems to usually be 3% but some may do a flat fee and/or percentage fee.....and a few do not charge an upfront fee or foreign transaction fees like a couple of  credit cards I have which do not charge a cash advance fee of any kind...flat or percentage fee.   

 

For a couple of years I used these credit cards to do counter cash advances at Bangkok Bank and Krungsri Banks for up to $2,000 per day/transaction which was the limit set by the card-issuing bank for cash advances....try to get a baht more than $2,000 worth and the transaction would reject.  However for purchases the limit per purchase was much higher. 

 

To avoid any interest from immediately beginning to accrue I prepaid the cash advance or paid it same day I did the cash advance.   Did this at least a dozen times since it allowed me to get $2,000 per withdrawal versus my debit cards which had a $1,000 daily limit plus use of the credit card prevent the Thai bank from getting their ripoff Bt220 fee.  But Thai bank now are beginning to charge a Bt200 fee even for counter withdrawals...Krungsri started around Oct 17 or so.

 

Go to the website of your card-issuing bank to review the terms and conditions for a cash advance associated with your credit card....and you may have to contacting them directly to determine what the daily cash advance limit is as it will probably be different from the daily purchase limit.   And maybe just surf to a couple of website that issue credit cards and review their policies for cash advances....you'll see the fees associated with a cash advance is difference from a purchase.

 

From good ol' Wikipedia giving an layman's description of a credit card cash advance.

 

Its not classed as a cash advance you ignorant fool. 

[misterphil]

On 28/01/2018 at 8:17 AM, VBF said:

Thanks for that detailed explanation  @Pib- tbh I did actually know about the difference between purchases and cash advances, and I've long since shied away from using  credit cards for cash. My UK-issued Barclaycard charges silly amounts for that. I was also aware of the pre-paying strategy, which, interestingly is actually against Barclay's "rules". One is not supposed to pre-pay but of course the card issuer wants to make as much money out of their customers as possible so want us to have to pay interest. I of course, don't!

 

My confusion  was that reading what @misterphil said in post #75 "Any money exchange. Its charged to your credit or debit card as an overseas purchase." 

 

I mistakenly took to mean that somehow, the money changers were making cash advances appear to the card issuers as if they were retail purchases rather than cash advances..

 

That of course would be too good to be true which was why I questioned it.

Ive done it before, these clowns haven't, so they don't know what they are talking about. 

[stevymac]

So is there anyway to avoid the 220 baht fee?????


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[misterphil]

9 minutes ago, stevymac said:

So is there anyway to avoid the 220 baht fee?????


Sent from my iPhone using Thaivisa Connect

UK Nationwide credit card and use money exchangers is the only way.

 

transferwise charge 1% on transfers to Thailand.