Bank charges

[chocdee120]

How do the Banks get away with charging for ATM withdrawals, I understand that using another Banks machine you will incur a charge, my issue is using your own Banks machine outside of your own Branch town you get charged. It’s as if they are saying your money is in your Branch in a box. Thai people are getting ripped off, already on low salaries they are getting charged 15 or 20 Baht for every withdrawal outside of their location. I can only comment on the Bangkok Bank but it seems to me to be a banking scam.

[Lamkyong]

i read  other day that same bank/different branch atm charges were to be   taken down

[RuamRudy]

Banks the world over are legalised scammers - very much a necessary evil, but evil without a doubt. 

[moana]

52 minutes ago, chocdee120 said:

My issue is using your own Banks machine outside of your own Branch town you get charged.

TMB doesn't charge anything for withdrawals (and even deposits) outside of your "region". You don't need to get a special debit card or pay extra, they just don't charge anything. They also offer the best deal for a debit card, 200 baht for 5 years, no annual fee.

 

Other banks offer an expensive version of their debit cards (350-400 baht annually) that let you withdraw for free from any bank. Not a good deal if you ask me...

[canopus1969]

18 minutes ago, moana said:

TMB doesn't charge anything for withdrawals (and even deposits) outside of your "region". You don't need to get a special debit card or pay extra, they just don't charge anything. They also offer the best deal for a debit card, 200 baht for 5 years, no annual fee.

 

Other banks offer an expensive version of their debit cards (350-400 baht annually) that let you withdraw for free from any bank. Not a good deal if you ask me...

K Bank also does not charge for ATM withdrawals outside home region  

[moana]

24 minutes ago, canopus1969 said:

K Bank also does not charge for ATM withdrawals outside home region

Are you sure? According to their fee schedule they charge 15 baht for "withdrawal via K-ATM across other clearing districts".

[jackdd]

At Krungsri you can choose between different debit cards and if you get the "Krungsri Debit All ATMs" (costs 480THB for 3 years, so 160 per year) you can withdraw money at any ATM in Thailand for free.

[robblok]

Banks need to make money too, so not a scam. I just withdraw twice a month from an ATM in my area no cost then. 

[chocdee120]

I think banks make enough already without robbing people on 9000 Baht a month salaries. The charge applies to all rich foreigners and the less well off. The charge is because you take your money from a machine outside the boundary why. 

[lkn]

4 hours ago, chocdee120 said:

I think banks make enough already without robbing people on 9000 Baht a month salaries. The charge applies to all rich foreigners and the less well off. The charge is because you take your money from a machine outside the boundary why. 

The boundary is the province: Why do you regularly need to take out money in another province? You can always set up a new account with a branch in the other province, if this is such a big issue for you.

 

As for banks making enough; I am a heavy user of my debit card, I do many online transfers per month, I’ve been to the bank with “issues” a dozen times taking up hours of their time, and yet my bank fees are less than what I am paid in interests.

 

Not a scam, as they add tremendous value to my life and hardly charge anything for it.

Edited April 18, 2018 by lkn

[chocdee120]

10 hours ago, lkn said:

The boundary is the province: Why do you regularly need to take out money in another province? You can always set up a new account with a branch in the other province, if this is such a big issue for you.

 

As for banks making enough; I am a heavy user of my debit card, I do many online transfers per month, I’ve been to the bank with “issues” a dozen times taking up hours of their time, and yet my bank fees are less than what I am paid in interests.

 

Not a scam, as they add tremendous value to my life and hardly charge anything for it.

Read my post again, I’m asking a Question not talking about me. Your money isn’t sitting in your Branch, it’s invested all around the world, in currency, Bonds, Stocks etc. So regardless of what province you find yourself in, it should be charge free, and if the first reply is correct,it soon will be.

[Pib]

18 hours ago, chocdee120 said:

Read my post again, I’m asking a Question not talking about me. Your money isn’t sitting in your Branch, it’s invested all around the world, in currency, Bonds, Stocks etc. So regardless of what province you find yourself in, it should be charge free, and if the first reply is correct,it soon will be.

 

The digital transfer fees that are mostly going away at most Thai banks are interbank and cross-clearing zone money "transfers, bill payments, and top-up services" you would accomplish via your ibanking or at an ATM.  Basically the digital movement of money.   Like advertised below at the K-bank website at this moment in time.

 

It does not apply to ATM "withdrawals."    Now a person may still get some free ATM withdrawals cross-clearing zones/provinces depending on their bank's long standing policy, up to 4 withdrawals per month when a bank is a member of the ATM Pool network, etc.  Each bank has a slightly different policy on its ATM withdrawal fees.

 

See the snapshots below from K-Bank's website/fee schedule.

 

On the K-bank home page at the millisecond in time....bragging about free transfer, top-up, and pay bill fees.

https://www.kasikornbank.com/EN/personal/Pages/Home.aspx

 

 

ATM Withdrawal Fees

https://www.kasikornbank.com/en/rate/fee/ChargesDoc/FeeService_en_30032018.pdf

 

Funds Transfer Via ATM

https://www.kasikornbank.com/en/rate/fee/ChargesDoc/FeeService_en_30032018.pdf

[Bob12345]

Having a bank account is free here, while in my home country i pay quarterly. At home i use the atm for free, here they charge.

 

Just a different way of charging costs.

[Muhendis]

On 19/04/2018 at 12:04 AM, chocdee120 said:

I think banks make enough already without robbing people on 9000 Baht a month salaries. The charge applies to all rich foreigners and the less well off. The charge is because you take your money from a machine outside the boundary why. 

Because they can!

[1FinickyOne]

 

who should pay for the atm machine that is placed in many locations for your convenience?

 

If you don't want to pay an atm charge, go inside the bank during business hours like they did in the old days before atm machines, when dinosaurs roamed 

[Lamkyong]

On 4/18/2018 at 3:48 PM, jackdd said:

At Krungsri you can choose between different debit cards and if you get the "Krungsri Debit All ATMs" (costs 480THB for 3 years, so 160 per year) you can withdraw money at any ATM in Thailand for free.

so not for free then   ((costs 480THB for 3 years, so 160 per year)

[KhunBENQ]

50 minutes ago, Bob12345 said:

Having a bank account is free here, while in my home country i pay quarterly. At home i use the atm for free, here they charge.

 

Just a different way of charging costs.

Free, thats true if no services attached (ATM card, email/SMS notification).

Otherwise there is a smal yearly fee (200, 500 or the like).

 

And indeed you can expect to pay like 6 to 12 Euro/month for a bank account in Germany while the cash pool allows free withdrawals nationwide.

[soalbundy]

On 4/19/2018 at 12:04 AM, chocdee120 said:

I think banks make enough already without robbing people on 9000 Baht a month salaries. The charge applies to all rich foreigners and the less well off. The charge is because you take your money from a machine outside the boundary why. 

because they can. I read in 'Der Spiegel' the other day that a Sparkasse bank in one town in Germany was gradually reducing the number of ATM's because it cost them 26,000 Euros per year to maintain each machine. The very reason that ATM's were introduced however was that it reduced their costs by avoiding counter customers, the real reason is a move to a cashless society, they want everything done over smart phones as in Sweden, that will save them real money, let transparency and online scamming begin, the tax collectors will love this..

[Acemaker]

On 4/18/2018 at 3:59 PM, robblok said:

Banks need to make money too, so not a scam. I just withdraw twice a month from an ATM in my area no cost then. 

Wake up, Banks are the biggest scammers out there, sticking up for thieving Banks, unbelievable !  

[shaurene]

The banks can charge you if they want. You have to remember, the banks are providing a service, so they can charge you for that service to help them service the machines, get them re-filled and managing your accounts. That's the way it goes.

[Acemaker]

On 4/18/2018 at 1:52 PM, RuamRudy said:

Banks the world over are legalised scammers - very much a necessary evil, but evil without a doubt. 

Well said !  

[thurien]

On 19/04/2018 at 12:04 AM, chocdee120 said:

I think banks make enough already without robbing people on 9000 Baht a month salaries. The charge applies to all rich foreigners and the less well off. The charge is because you take your money from a machine outside the boundary why. 

and then these 9k thb people withdraw 200 baht at a time...

[Ban Phe Dezza]

On 4/19/2018 at 3:05 PM, chocdee120 said:

Read my post again, I’m asking a Question not talking about me. Your money isn’t sitting in your Branch, it’s invested all around the world, in currency, Bonds, Stocks etc. So regardless of what province you find yourself in, it should be charge free, and if the first reply is correct,it soon will be.

I have a Bank account in a different Provence I use to be charged 15 Baht a withdrawal outside that Provence, those charges stopped 3 to 4 weeks ago  so to sum up no charges to withdraw funds I use B B 

   

[jackdd]

2 hours ago, Lamkyong said:

so not for free then   ((costs 480THB for 3 years, so 160 per year)

I said withdrawing is free, learn to read

[Russell17au]

Remember banks are a financial business and savings accounts are not the only things they deal in, they also deal in financing houses and cars and businesses, so the money for the bank to operate on must come from somewhere and that is by the way of fees and interest on loans plus the money for the interest that is paid into your account must also come from somewhere.

[Jonmarleesco]

There is government input. The original in-province fee for use of another bank's ATM was three baht each time. The Yingluck government changed that to the first three withdrawals being free, then ten baht per time.

[robblok]

2 hours ago, Acemaker said:

Wake up, Banks are the biggest scammers out there, sticking up for thieving Banks, unbelievable !  

Then don't use them.. its a service you either use or not.. if you use them stop your moaning.

[4MyEgo]

3 hours ago, kenk24 said:

 

who should pay for the atm machine that is placed in many locations for your convenience?

 

If you don't want to pay an atm charge, go inside the bank during business hours like they did in the old days before atm machines, when dinosaurs roamed 

You forgot one thing.....

 

ATM's when introduced were introduced to reduce que's at banks and they were free to use, then when they rounded up all the sheep a few years later, ooops, the ATM's cost us money to maintain (after culling staff) who had been replaced by the ATM machines, and guess what, all the sheep went baa baa baa and accepted it.....baaaaa

[Russell17au]

2 minutes ago, 4MyEgo said:

You forgot one thing.....

 

ATM's when introduced were introduced to reduce que's at banks and they were free to use, then when they rounded up all the sheep a few years later, ooops, the ATM's cost us money to maintain (after culling staff) who had been replaced by the ATM machines, and guess what, all the sheep went baa baa baa and accepted it.....baaaaa

And that was not just in Thailand

I can remember in Australia when banks prided themselves with the service that they provided to their customers and they even paid reasonable interest into savings accounts because they were happy with the interest that they made from personal, housing, car and business loans but today they are the richest and we are the poorest

[Lamkyong]

1 hour ago, jackdd said:

I said withdrawing is free, learn to read