Bank charges

[moana]

3 hours ago, gk10002000 said:

What I don't like is those 220 baht fees for out of country ATMs

Easily avoidable. If you're an American, get a debit card that has 0% FTF and reimburses all ATM fees, such as Schwab. I get those $7 dollars back immediately after every withdrawal.

If you're not lucky enough to be able to get such a card, simply head inside the branch, and ask for a cash advance on the card. Bring your passport. Bangkok Bank charges ZERO baht for cash advances. Note that your bank may charge you something, but that's up to you and the arrangements you have with your bank. Most banks do not charge extra for cash advances on debit cards (since they're not really advances, they're just withdrawals). DO NOT take a cash advance on a credit card.

[Pib]

10 hours ago, khunPer said:

For the order of good sake I need to update my previous reply to this.

Last year I could withdraw from other bank's ATM without a fee in same district as my own bank, but after January 1st this year, they began to charge fees at the same ATM's that I could use without fee last year. However, a few days ago I used another bank's ATM, but from a different bank than earlier, and I was not charged a fee.

Could it be some banks have an agreement for withdraw without fee, and others dont..?

They all have different policies.  It's an individual bank policy....not a government rule/law.   

 

And not all Thai banks are part of the Thai ATM Pool where X-amount of free withdrawals per month (4 I think it is) are allowed between banks.   Yeap, the policy is up to the bank....and policies vary between banks.

[Pib]

7 hours ago, moana said:

Easily avoidable. If you're an American, get a debit card that has 0% FTF and reimburses all ATM fees, such as Schwab. I get those $7 dollars back immediately after every withdrawal.

If you're not lucky enough to be able to get such a card, simply head inside the branch, and ask for a cash advance on the card. Bring your passport. Bangkok Bank charges ZERO baht for cash advances. Note that your bank may charge you something, but that's up to you and the arrangements you have with your bank. Most banks do not charge extra for cash advances on debit cards (since they're not really advances, they're just withdrawals). DO NOT take a cash advance on a credit card.

 

Yea, when I was doing counter withdrawals at Bangkok Bank and Krungsri Bank up until around mid last year, they did not charge any counter withdrawal fees using a foreign card.  Haven't needed to do any counter withdrawals since due to a couple of large ACH transfers from the U.S. that topped up my accounts pretty well.

 

However, the full service Bangkok Bank branch I used here in Bangkok would "not" do a counter withdrawal for a "debit" card, but no problem using a credit card.  I used a credit card since I had one that charged no foreign transaction fee or cash advance fee...and I prepaid the card so I didn't incur any interest charge. For a debit card the Bangkok Bank branch I was using simply said NO, and would just point me to their ATM...and I asked several times as I used my credit card for a cash advance with them at least 4 times.   I can see anything in their latest Thai language fee schedule that indicates they charge any fee for counter withdrawals when a branch will do one.   Summary: credit card, no problem in doing a counter withdrawal; but sorry charlie for a debit card at the particular branch I was using.  

 

And then I started using a new Krungsri Bank branch that opened very close to my home for my counter withdrawals.  They gladly accepted foreign debit or credit cards for counter withdrawals....I used both debit and credit cards with them....but apparently even that changed around Oct 17 when they started charging for a counter withdrawal if using a foreign Visa card (doesn't say anthing about a Mastercard)....see the snapshot of their fee schedule below.

 

Over the years in reading a lot of ThaiVisa posts I've seen other folks run into a counter charge when using their foreign card....and it seemed to be Bt200.  Fortunately, the folks getting hit with a counter withdrawal fee were few, but I think more Thai banks are not beginning to charge a counter withdrawal fee....so don't be shocked if the Thai bank charges such a counter fee.  Or they will not do even do a counter withdrawal....varies from bank to bank, from branch to branch.  Definitely easy enough to walk into a branch and give it a try.

 

From Krungsri Bank fee schedule....the charge for a counter withdrawal started around Oct 17.

Edited April 27, 2018 by Pib

[gk10002000]

On ‎4‎/‎26‎/‎2018 at 4:10 PM, moana said:

Easily avoidable. If you're an American, get a debit card that has 0% FTF and reimburses all ATM fees, such as Schwab. I get those $7 dollars back immediately after every withdrawal.

If you're not lucky enough to be able to get such a card, simply head inside the branch, and ask for a cash advance on the card. Bring your passport. Bangkok Bank charges ZERO baht for cash advances. Note that your bank may charge you something, but that's up to you and the arrangements you have with your bank. Most banks do not charge extra for cash advances on debit cards (since they're not really advances, they're just withdrawals). DO NOT take a cash advance on a credit card.

I have Etrade which reimburses all fees in the USA and many fees overseas but not all.  As for the cash advance on debit card, thanks for the tip.  Bangkok Bank would do that for a non member?  And don't worry about the credit card advance.  Homey here don't pay interest! 

 

Schwab is on my list for when I roll over my current company IRA.  I reached 1 million on my Etrade accounts so time to open another institution that has a more worldly mind.  I have Wellsfargo account for local stuff but would not touch their brokerage or other crap

[moana]

31 minutes ago, gk10002000 said:

Bangkok Bank would do that for a non member?

The branches that do it, do it for anyone, you don't need to be an existing customer. Some branches (well, some of the employees in those branches) turn people down and tell them to use the ATM. I've had success with "My PIN won't work on your ATM, can you try here please?", or if push comes to shove, just head over to the next branch, there's one on every corner.

 

Schwab is a little expensive as a brokerage, except for their excellent free ETFs. I use Interactive Brokers for most of my trading, and keep Schwab for the ETFs and the awesome debit card.

[jackdd]

6 hours ago, gk10002000 said:

As for the cash advance on debit card, thanks for the tip.  Bangkok Bank would do that for a non member?  And don't worry about the credit card advance.  Homey here don't pay interest! 

Bangkok Bank does it for everybody, but some branches are not able to do it. And you really should check the fees of your card issuing bank before you do it, some are free, but i also have a card where the bank would charge me 5% fee (without limit) if i do an over the counter cash advance, while at the ATM it's free from their side.

UOB also does over the counter cash advance for free.

[gk10002000]

12 hours ago, jackdd said:

Bangkok Bank does it for everybody, but some branches are not able to do it. And you really should check the fees of your card issuing bank before you do it, some are free, but i also have a card where the bank would charge me 5% fee (without limit) if i do an over the counter cash advance, while at the ATM it's free from their side.

UOB also does over the counter cash advance for free.

I have. Etrade does not charge anything for a cash advance on my check debit cards. Etrade treats it like a standard Point of Sale (POS) sale as if one were "buying" cash instead of merchandise.  I understand what you meant.  Thanks

[madisongy]

On 4/25/2018 at 7:09 PM, JimGant said:

But an ATM/debit card, most of which allow an 'insert and sign' mode (the so-called 'credit card' mode) can be problematic. Yes, like ATM daily limits, there are daily POS limits with a debit card -- but usually considerably above the ATM limits. But most banks will allow you to adjust this limit -- down to zero if you'd like. And you should like, as a debit card has no advantages over the credit card you should be carrying. Which protects against your bank account from being debited/cleaned out; pays rewards well above what debit cards can offer (and few do); and many eat the foreign transaction fee (while a debit card from the same bank may not).

 

Yes, an ATM card is handy when traveling. But if you don't have a strictly ATM card (like against a savings account, where debit transactions aren't allowed), zero out the POS limit on the ATM/Debit card you're carrying (you can do this with Bangkok Bank's Be1st cards). And get a credit card -- if you can -- for all those POS transactions.

Good comments.......I'm applying for Schwab and assume from other posts that this is a Visa ATM/debit.   Assume they allow adjusting the POS limit to zero??

[Pib]

Yes, it's a Visa card....me and the wife have Schwab Visa debit cards.  I use my Schwab card here in Thailand about once every two months to get Bt30K out of a Thai ATM....have also used in once or twice during a counter withdrawal.  Schwab reimburses the ATM fee at the end of each monthly statement cycle.  Can't speak to setting the POS limit to zero.   Our cards live in the darkest of my safe except for the periodic use at an ATM.

 

 

[madisongy]

6 minutes ago, Pib said:

Yes, it's a Visa card....me and the wife have Schwab Visa debit cards.  I use my Schwab card here in Thailand about once every two months to get Bt30K out of a Thai ATM....have also used in once or twice during a counter withdrawal.  Schwab reimburses the ATM fee at the end of each monthly statement cycle.  Can't speak to setting the POS limit to zero.   Our cards live in the darkest of my safe except for the periodic use at an ATM.

 

 

Many thanks Pib.   I plan to use this as my sole method of acquiring cash here.  Sounds like the absolute cleanest way.  Like you, that 30k cash will last me a while.  While I won't carry the card unless making a cash run, I'd still like to drop that POS to zero.

[Pib]

1 minute ago, madisongy said:

Many thanks Pib.   I plan to use this as my sole method of acquiring cash here.  Sounds like the absolute cleanest way.  Like you, that 30k cash will last me a while.  While I won't carry the card unless making a cash run, I'd still like to drop that POS to zero.

I hope that's not your "only" method to obtain cash.  You really need another/backup method for those possible cases that the card don't work...gets blocked...gets lost/stolen....sh&t happens you know....and always at a bad time.

[madisongy]

12 hours ago, Pib said:

I hope that's not your "only" method to obtain cash.  You really need another/backup method for those possible cases that the card don't work...gets blocked...gets lost/stolen....sh&t happens you know....and always at a bad time.

let's go with "primary" method.