Bangkok Bank, American Visa Debit Cards

[racinkc1]

How will I transfer my money to Bangkok bank if I cannot do an international transfer if I am not physically at my bank in the US? My bank just informed me there is no way to do an international transfer once I am overseas, yet, people are saying just open an account and transfer your money.  Does Bangkok bank have American Visa Debit Card services? Has anyone opened a B of A account, as there are B of A's in Thailand, making it only a domestic transfer? Am I over complicating and thinking this?

Edited January 6, 2020 by racinkc1

[jeffandgop]

The answer is Yes.  I have a Bangkok Bank account and routinely withdraw from my US Bank savings account at the Bangkok Bank counter.  The amount you may withdraw via your Debit Card is subject to your US Bank's limit; so know what that daily limit may be.  There may be a fee imposed by your bank

Frankly I'm not sure that you even need a Thai bank account to go into Bangkok Bank and use this service.  Also there is no fee imposed by Bangkok Bank (there may be a fee imposed by your bank) when you do your withdrawal inside the bank at their teller window.  Also, don't withdraw from an ATM as you will pay n ATM fee; and the amount that you wish to withdraw is limited to the ATM machine's limit as well as your bank's limit.

 

Note I use the term "withdrawal" and not "transfer".  You're not moving funds from one bank to another; rather your removing funds from your US bank electronically and putting it in your pocket- just as if you were in the US at another bank.  

[racinkc1]

Do you withdrawal Us dollars or Thai Baht? If you exchanging the money directly into Thai Baht is there another fee for the currency exchange?

[jeffandgop]

50 minutes ago, racinkc1 said:

Do you withdrawal Us dollars or Thai Baht? If you exchanging the money directly into Thai Baht is there another fee for the currency exchange?

I declare my amount to withdraw in $$ and receive funds in baht. The exchange rate used is imposed by YOUR bank, which you'll see on your statement.  In my case, there is a "preliminary" exchange rate which is what decides your baht amount you receive and then in a few days a "settlement rate", and your bank uses that rate to ultimately decide what $$ amount to deduct from your account.  As an example, when I go into Bangkok Bank, I'll give them my debit card and ID, and tell them I want $100.  They run the card and hand me, say, 3000B.  The preliminary rate being applied at that moment is $1= 30B.  Now in a few days you look up your account and you might see $99 withdrawn- meaning your 3000B was received at an exchange rate of $1= 30.30B.  You will find that the exchange rate you ultimately pay is better than the published rate to exchange dollar currency into baht.

 

Now I need to correct what I said about fees.  Bangkok Bank does charge a small fee but it appears on your US bank statement and is not a fee deducted from the baht you receive.  In my case , my bank refunds the Bangkok Bank fee back into my account AND does not charge me a fee either.  CHECK with your bank to find out about fees, daily and monthly withdrawal limits, etc.

Edited January 6, 2020 by jeffandgop

[Dcheech]

2 hours ago, racinkc1 said:

Has anyone opened a B of A account, as there are B of A's in Thailand, making it only a domestic transfer? Am I over complicating and thinking this?

First off I do not understand what Bank you have back in the US, Is "American Visa" or "B of A" a bank? And first step have you set it up for online banking?   

 

I can send transfers & wire funds from both my US banks but it required me setting it up for online banking, then making sure I could do transfers, say via transferwise and direct wires from the bank to my thai bank. However this was done when I was back in the us. I do not believe that was a prerequisite though.

 

 

Edited January 7, 2020 by Dcheech

[racinkc1]

1 hour ago, jeffandgop said:

 CHECK with your bank to find out about fees, daily and monthly withdrawal limits, etc.

This is for an international withdrawal, correct? Not an international transfer? Thanks for all the info, helps a lot..... Im going to need to call the main branch. The lady I spoke with today said she could not offer me any banking advice but could only tell me I cannot do international transfers if Im not physically at my branch in the states.

Edited January 7, 2020 by racinkc1

[racinkc1]

1 hour ago, Dcheech said:

First off I do not understand what Bank you have back in the US, Is "American Visa" or "B of A" a bank? And first step have you set it up for online banking?   

 

I can send transfers & wire funds from both my US banks but it required me setting it up for online banking, then making sure I could do transfers, say via transferwise and direct wires from the bank to my thai bank. 

It's actually not a bank at all, but a Federal Credit Union. I have online banking and can easily deposit checks and transfer funds between my saving and checking online. All I will have is my Visa Debit card with chip to access my funds.

Edited January 7, 2020 by racinkc1

[Pib]

OP,

  Don't confuse an electronic transfer from your bank (or credit union)  to another bank, either in the US or foreign, with using your bank's debit card.  Two different animals.

 

  You may or may not know but US folks use to be able to do ACH transfers from their US banks to their in-Thailand Bangkok Bank acct.  ACH is the main funds transfer system used in the US.  This was possible because Bangkok Bank was the only Thai bank with ACH receiving capability because an ACH transfer could be routed through their Bangkok Bank "New York" branch which is a licensed US bank. 

 

  But as of 1 Dec 2019 after decades of being available, that method of doing an ACH transfer to Bangkok Bank unless sent in ACH "Intentional ACH Transaction (IAT)" is history as no US bank/CU will send in ACH "IAT" format....they will only send in ACH domestic format which means the funds are staying withing the US....not being forwarded outside the US like how Bangkok Bank NY would relay the funds to your in-Thailand Bangkok Bank acct.   But you can still do a "International Wire (a.k.a., SWIFT) transfer to Bangkok Bank as a Wire transfer is a different animal/transfer system from an ACH transfer.   

 

  But all of this talk of doing transfers from your bank via ACH or Wire means little if your bank (CU in your case) does not allow you to initiate such a transfer via online banking/call/fax....instead, you must physically visit a branch which you can not do.

 

   Now you are left with using your bank debit card.  The conditions/rules of your card-issuing bank will primarily determine if and how you can use your card.  You bank may require you to notify them of your foreign travel so they can unblock your card for use in Thailand....or your bank may not block your card of use anywhere in the world.  Policies vary from card-issuing bank to bank.  So, what is the policy of your bank?

    

   Your bank will have a daily and per transaction limit for the debit car use...like maybe $1000, $500, etc.  It may have separate limits depending on whether you are doing a withdrawal at an ATM or bank counter...usually the limit is the same but some banks allow higher limits if doing the withdrawal at a bank counter.  So, what is the limit set by your card-issuing bank?

 

   OK, lets say your card can be used worldwide and it allows $1000 withdrawal per day from an ATM or bank counter.  What exchange rate will you get?  Answer: you will get the card network exchange (Visa in your case) "minus" any foreign transaction fee your card-issuing bank may charge.

 

    However, it's typical for a card-issuing bank to charge a 1 to 3% foreign transaction fee but some do not.  So, let's say your bank charges a 2% foreign transaction fee...then the exchange rate you get at the ATM/counter will be 2% less than the Visa rate.  AND THIS ASSUMES you do not accept a Dynamic Currency Conversion (DCC) transaction (NEVER DO THAT) at an ATM/counter which means the Visa rate is not used but the rate of that local Thai bank is used....and that local rate will probably be around 3% lower than the Visa rate.  If you see "dollars" involved anywhere in the exchange...that is, they are quoting your an exchange rate from dollars to baht then that is a DCC transaciton...STOP....DO NOT follow-thru.  Bypass any DCC transaction and ensure the transaction is in baht only.   And the real salt in the wounds is a few US card-issuing banks will still charge the foreign transaction fee although they were not involved in the DCC exchange simply because it was a foreign transaction.  So, does your card-issuing bank charge a foreign transaction fee?  Also, do they reimburse any ATM Use fee like the Thai bank Bt220 use fee for foreign cards?

 

    OK, what about withdrawing at a bank counter instead of at an ATM?  Well, most Thai bank branches will allow such.  There may or may not be a fee or around Bt200...varies from Thai bank to bank...and it also can depend on whether your foreign card is Visa, Mastercard, AmEx, UnionPay, etc.  How much can your withdraw at the counter?  Well, the first determination will be how much does your card-issuing bank allow?  Let's assume it $1000. Then that means you could withdraw approx Bt30K assuming the exchange rate is at least 30 baht/USD.  If 29.5/USD then you could withdraw Bt29.5K. 

 

     But let's say you have a debit card that allows $1000 at an ATM but $5000 at a bank counter.  Well, $5000 works out to Bt150K at 30baht/USD.  Now the Thai bank may have a limit also.  If you had a debit card that allowed a $10K per day/transaction (around Bt300K) that does not mean the Thai bank would allow such a high withdrawal.  I have a US debit card that allows up to $5K per day at a bank counter and I've pull "almost" that much several times at Bangkok Bank and Krungsri Bank.  I say "almost" because when the exchange rate was higher....like 32/USD then $5K worked out to Bt160,000.  Neither Bangkok Bank or Krungsri Bank branches I used would allow that much as they had a Bt150,000 limit.  So, I did a $150,000 withdrawal which stayed with my US bank card limit and the Thai bank limit....satisfied both limits.  And at both of these branches there was no fee of any kind....and my card does not have a foreign transaction fee....instant money in hand at the full Visa exchange rate which is plus or minus a hair the TT Buying Rate used by Thai banks for incoming foreign transfers.

 

   Sorry to "throw questions at you" regarding the terms/condition of your credit union debit card, but you must know them to be able/to effectively use your card.

 

 

[Langsuan Man]

6 hours ago, racinkc1 said:

My bank just informed me there is no way to do an international transfer once I am overseas,

Get another bank, if yours does not have Internet banking, this is 2020 and time to get another bank if they don't OR read try the instructions at your US Bank.   

 

Your first post here at Thai Visa is pretty confusing since you leave us to guess at what your bank is in the US when you start mixing American Visa Debit Card into your post 

[TallGuyJohninBKK]

Quote

It's actually not a bank at all, but a Federal Credit Union. 

 

OP, check with your credit union and see if they will allow you to do a DOMESTIC wire transfer out of your account, without you being physically present there.

 

If you can do that, you can pretty easily do a domestic wire transfer from your U.S. account to BKKB's New York branch that will then be sent onward to your BKKB account in Thailand.

 

The process is pretty simple, but I'll wait on the details until hearing if your credit union will allow you to initiate a domestic wire transfer.

 

PS - Why did you keep writing about "B of A" (which normally means Bank of America), only to later say you were dealing with a federal credit union?

 

PPS - about how much money do you need to move from the US to Thailand, and do you mean a one-time transfer.... or something you'll be needing to repeat monthly or otherwise?

 

 

Edited January 7, 2020 by TallGuyJohninBKK

[Pib]

In my experience with my credit unions and banks over the years and current day, it's not uncommon for some credit unions (especially small ones) to have more restrictive or less banking features/capabilities (like international transfers of money) than banks and large credit unions.  

[racinkc1]

13 minutes ago, Langsuan Man said:

Get another bank, if yours does not have Internet banking, this is 2020 and time to get another bank if they don't OR read try the instructions at your US Bank.   

 

Your first post here at Thai Visa is pretty confusing since you leave us to guess at what your bank is in the US when you start mixing American Visa Debit Card into your post 

It's a smaller credit union and probably more restrictive than a larger credit union or bank. I am not worried about limits, as I am just trying to pay my rent and buy food. I don't plan to do many transactions, and want to move between 500 and 1000 USD a couple times, months apart to avoid regularly pay fees. I think I will be ok as long as I am able to withdraw money money and don't have to transfer it internationally. 

[racinkc1]

8 minutes ago, Pib said:

In my experience with my credit unions and banks over the years and current day, it's not uncommon for some credit unions (especially small ones) to have more restrictive or less banking features/capabilities (like international transfers of money) than banks and large credit unions.  

That would make sense. I don't plan on transferring a ton of money and dont plan on doing this regularly, as 500 USD goes a long way. Just enough to get my bye for a while before I have to do it again to pay rent and have some spending money. I know I will be fine as long and I can withdraw money with a Visa Debit and don't have to do an international transfer. 

[TallGuyJohninBKK]

9 minutes ago, racinkc1 said:

It's a smaller credit union and probably more restrictive than a larger credit union or bank. I am not worried about limits, as I am just trying to pay my rent and buy food. I don't plan to do many transactions, and want to move between 500 and 1000 USD a couple times, months apart to avoid regularly pay fees. I think I will be ok as long as I am able to withdraw money money and don't have to transfer it internationally. 

 

Assuming you have your U.S. VISA or MC debit card, you can use it to withdraw money directly from Thai ATMS.

 

The ATM machines themselves typically will allow 20-25,000 baht per withdrawal, though a couple banks (Krungsri and TMB) will allow 30,000 per withdrawal. Each withdrawal would have a 220 baht fee from the Thai bank.

 

But then, you also need to know two things from your credit union:

1. How much if any do they charge of a foreign currency conversion fee, when you use your debit card to withdraw money or make purchases outside the U.S. (No fee or 1% are OK. 2-4% that some banks/CU's charge is bad!)

 

2. What is the daily ATM withdrawal limit on your card?  It does you no good to have a Thai ATM machine that will allow you 30,000 baht per withdrawal (almost $1000) if your credit union only allows you $500 (less than 15,000 baht) per DAY from any ATMs.

 

In the U.S., daily card limits of $300 to $500 for ATM withdrawals are pretty common. Some institutions will allow up to $1000 per day. And some banks/CUs will adjust those limits upward in response to accountholder requests, but most probably will refuse that kind of request.

 

Edited January 7, 2020 by TallGuyJohninBKK

[racinkc1]

20 minutes ago, TallGuyJohninBKK said:

OP, check with your credit union and see if they will allow you to do a DOMESTIC wire transfer out of your account, without you being physically present there.

If you can do that, you can pretty easily do a domestic wire transfer from your U.S. account to BKKB's New York branch that will then be sent onward to your BKKB account in Thailand.

 

PS - Why did you keep writing about "B of A" (which normally means Bank of America), only to later say you were dealing with a federal credit union?

 

PPS - about how much money do you need to move from the US to Thailand, and do you mean a one-time transfer.... or something you'll be needing to repeat monthly or otherwise?

 

 

Yes, I should be able to do domestic transfers. It's just international transfers I will not be able to do. This seems like the best option, but a guy in a previous post mentioned they may not be doing it anymore as of Dec 1st 2019. 

 

I mentioned B of A, "Bank of America" because my bank said it could be a good option, as there are Bank of Americas in Thailand. This would be very similar to using Bangkok bank in New York, but opposite......

 

I dont plan on doing more than a couple transactions, if that. After I figure out how much I will be spending to sustain myself, Id like to only due 1 or 2 transactions. "just enough to pay bills and buy food for one farang."

[TallGuyJohninBKK]

15 minutes ago, racinkc1 said:

Yes, I should be able to do domestic transfers. It's just international transfers I will not be able to do. This seems like the best option, but a guy in a previous post mentioned they may not be doing it anymore as of Dec 1st 2019. 

 

I mentioned B of A, "Bank of America" because my bank said it could be a good option, as there are Bank of Americas in Thailand. This would be very similar to using Bangkok bank in New York, but opposite......

 

I dont plan on doing more than a couple transactions, if that. After I figure out how much I will be spending to sustain myself, Id like to only due 1 or 2 transactions. "just enough to pay bills and buy food for one farang."

 

B of A is bad bank to be using for someone staying in Thailand. Their US fees are high, and there are no consumer/retail outlets for B of A in Thailand nor are there any B of A ATMs to use here.

 

Without going into all the details and nuances, there are no real U.S. bank retail presence here in Thailand where you could use your US bank card just like you'd use them in the U.S. 

 

-------------

 

What BKKB NY stopped doing lately was ACH transfers from the U.S. to Thailand.

 

You absolutely can still do a DOMESTIC wire transfer from your credit union, assuming they allow you that when not physically present, to BKKB's New York branch using their ACH/routing number as the recipient entity, and then your BKKB TH account number as the recipient account.  BKKB NY charges a small fee for that as will BKKB TH, but less than an international wire would cost.

 

You should also find out the details of your debit card for foreign use -- daily ATM withdrawal limit, and foreign currency conversion fee, if any -- so you can decide which is a more suitable/more economical option for you -- the domestic wire transfer to BKKB NY or a local Thai ATM withdrawal using your card.

 

Edited January 7, 2020 by TallGuyJohninBKK

[racinkc1]

8 minutes ago, TallGuyJohninBKK said:

Each withdrawal would have a 220 baht fee from the Thai bank.

 

(No fee or 1% are OK. 2-4% that some banks/CU's charge is bad!)

 

 And some banks/CUs will adjust those limits upward in response to accountholder requests, but most probably will refuse that kind of request.

 

I will gladly pay 220 Thai Baht for the transaction, as I will only periodically do this.

 

I may not have a choice and will just pay the fees for convenience.... So I dont have to open additional bank accounts or have to deal with any type of transferring, which are going to have their own fees as well.... its not like you can completely avoid fees by transferring money vs withdrawing it. 

 

I will call tomorrow and see what they say. Also ask and fees....

 

Khob Khun Krap.

 

[TallGuyJohninBKK]

11 minutes ago, racinkc1 said:

I will gladly pay 220 Thai Baht for the transaction, as I will only periodically do this.

 

I may not have a choice and will just pay the fees for convenience.... So I dont have to open additional bank accounts or have to deal with any type of transferring, which are going to have their own fees as well.... its not like you can completely avoid fees by transferring money vs withdrawing it. 

 

I will call tomorrow and see what they say. Also ask and fees....

 

Khob Khun Krap.

 

 

For U.S. bank accounts, a $500 daily limit on ATM withdrawals is pretty common. Some are even less than that, in the $300 to $500 range.  So if your CU had a $500 daily limit, just by way of example, you'd be able to withdraw about 14000 baht at a time from any Thai ATM, and would pay the Thai fee of 220 baht, plus any foreign currency % fee charged by your CU.  If your card happens to have a higher limit, that would be better for you and obviously more economical.

 

With the domestic wire transfer, the amount could be as much as you have in your CU account, basically no limits. BKKB NY and BKKB TH would both charge a small fee, probably less than $20 combined in your case. And your CU almost certainly would charge a flat amount sending fee for the domestic wire.

 

Generally, ATM withdrawals are going to be more economical for smaller per withdrawal amounts, whereas a domestic wire transfer probably is going to be more economical if you were sending larger amounts of money per time.

 

PS - be careful when you talk with your CU about the issue of foreign currency conversion fees on your debit card. A lot of the line bank/CU staff in the U.S. never deal with foreign currency issues, so they have no clue. And some banks/CUs will claim they don't charge any FCF, and instead fob it off on VISA or MC and claim it's really VISA or MC, and not your CU, that's charging the fee. In your case, you don't care WHO's charging it. You just want to know what the total FCF % on a foreign transaction would be regardless.

 

Edited January 7, 2020 by TallGuyJohninBKK

[MikeN]

IF you can withdraw via your debit card at an international ATM then that would be the simplest way. So make sure you can do this, and tell your credit union/bank that you will be using your card overseas ...you do not want them to put a block on your card because they think it might be fraudulent !

You will pay foreign transaction fees, but an international transfer would be similar in cost.

The only reason you NEED to do a transfer in to a Thai account would be to satisfy Thai Immigration's visa requirements, ie 800k for a retirement extension.

[TallGuyJohninBKK]

6 minutes ago, MikeN said:

 

The only reason you NEED to do a transfer in to a Thai account would be to satisfy Thai Immigration's visa requirements, ie 800k for a retirement extension.

 

Or for sending larger amounts than can be accommodated via Thai ATMs.

 

[racinkc1]

8 minutes ago, TallGuyJohninBKK said:

 

B of A is bad bank to be using for someone staying in Thailand. 

Ill take your word. 

8 minutes ago, TallGuyJohninBKK said:

You absolutely can still do a DOMESTIC wire transfer from your credit union, 

Im assuming this will be through swift. And transfer wise is a little different.

8 minutes ago, TallGuyJohninBKK said:

so you can decide which is a more suitable/more economical option for you -- the domestic wire transfer to BKKB NY or a local Thai ATM withdrawal using your card.

 

I think this sums it up. If i don't do this regularly, just pay the fees and withdrawal money. If I do this a lot, look into wiring the money domestically to Bangkok Bank, New York.

 

Thanks again.

 

 

 

 

[racinkc1]

11 minutes ago, MikeN said:

make sure you can do this, and tell your credit union/bank that you will be using your card overseas ...you do not want them to put a block on your card because they think it might be fraudulent !

 

I have to do this every 90 days via online chat!!!! 

Thanks again. 

[racinkc1]

20 minutes ago, TallGuyJohninBKK said:

Generally, ATM withdrawals are going to be more economical for smaller per withdrawal amounts, whereas a domestic wire transfer probably is going to be more economical if you were sending larger amounts of money per time.

I think this quantifies everything. It all depends on how long I stay and how much I spend...

 

20 minutes ago, TallGuyJohninBKK said:

In your case, you don't care WHO's charging it. You just want to know what the total FCF % on a foreign transaction would be regardless.

 

I really don't have a choice in the matter for not. I will take note of their rates, should I begin to make regular transactions. 

[Curt1591]

Bangkok Bank will do over the counter withdrawals with a foreign Visa backed debit card. However, most, if not all, foreign Visa transactions carry a 1% charge on the amount withdrawn.

Go to a Bangkok Bank with a dedicated exchange counter. That will eliminate having to argue with a half dozen subordinates who will say they can't do it.

[TallGuyJohninBKK]

2 minutes ago, racinkc1 said:

I think this quantifies everything. It all depends on how long I stay and how much I spend...

 

I really don't have a choice in the matter for not. I will take note of their rates, should I begin to make regular transactions. 

 

The reason I mentioned about the FCF on your debit card is...those costs factor into any evaluation of whether a domestic wire transfer thru BKKB NY or some other means would be a better/more economical option.

 

The major US banks (mega banks) typically have a 3% FCF last times I checked. So for a 14000+ baht/$500 Thai ATM withdrawal, that 3% would mean 420 baht of FCF plus the Thai bank's 220 baht ATM fee totaling about 640 baht in fees. That's equal to about $21 just in fees.

 

If you then considered a domestic wire of say 45,000 baht, where no FCF would be charged but you would pay the sending wire fee by your CU and then BKKB's handling fees, it might be worth comparing -- again, assuming your CU made it reasonably convenient for you to send a domestic wire when not in their branch.

 

[TallGuyJohninBKK]

6 minutes ago, Curt1591 said:

Bangkok Bank will do over the counter withdrawals with a foreign Visa backed debit card. However, most, if not all, foreign Visa transactions carry a 1% charge on the amount withdrawn.

Go to a Bangkok Bank with a dedicated exchange counter. That will eliminate having to argue with a half dozen subordinates who will say they can't do it.

 

Yep, that works too. It's commonly called a "counter withdrawal", and it would avoid the 220b Thai per withdrawal ATM fee, and also avoid the per withdrawal limit that Thai ATM machines have.

 

He'd still have whatever FCF is charged by his CU... And his CU might have some limit on the amount they'd allow to be withdrawn that way. But he'd avoid the Thai ATM fees.

 

The main issue with counter withdrawals is.... a lot of branches simply will refuse to do them, or send the customer out to use their ATMs instead. So sometimes it takes a bit of shopping around from branch to branch to find one that will accommodate.

 

And another minor inconvenience is the Thai bank is always going to ask to see your passport when making that kind of withdrawal, meaning you'd have to be carrying your original passport around with you for that business... And I try to keep my passport safe at home and take it out as little as possible. As I said, a minor inconvenience in the broader scheme of things.

 

But if the withdrawals were something I was going to continue doing on an ongoing/monthly basis, I'd certainly look to find a solution to that.

 

 

 

[Pib]

1 hour ago, racinkc1 said:

Yes, I should be able to do domestic transfers. It's just international transfers I will not be able to do. This seems like the best option, but a guy in a previous post mentioned they may not be doing it anymore as of Dec 1st 2019. 

 

That guy (me) was talking a domestic "ACH" transfer.  Wire transfers, be it a domestic wire to the Bangkok Bank NY who will relay the funds to your in-Thailand Bangkok Bank branch or an international wire to any bank in Thailand are still doable....no change there.  ACH and Wire transfers are two different animals using different transfer systems....different rules....different fees.  

 

The great majority of US banks do not charge any "ACH" sending fees....but a few of the more fee-evil ones will charge around $3.   But as mentioned, doing an ACH transfer (unless in ACH IAT format which no know US bank use for retail transfers) from your bank to Bangkok Bank is now a history books subject as of 1 Dec 2019.   

 

Now when it comes to domestic and international "wires" you will usually be paying a sending fee in the $20 to $45 ballpark although some banks do provide free domestic wires once a month to high net worth folks....which usually means having at least $100K in assets deposited/invested with them.  Different banks...different fees.

[Curt1591]

2 hours ago, TallGuyJohninBKK said:

He'd still have whatever FCF is charged by his CU... And his CU might have some limit on the amount they'd allow to be withdrawn that way. But he'd avoid the Thai ATM fees.

In most cases, when using a Visa backed debit card, one may be avoiding "ATM" fees. But, Visa slaps on a 1% fee, making a 22,000 baht withdrawal incur a 220 baht fee. In this case, AEON is a better deal, with a 150 baht ATM fee (.75%). The bad news is that AEON machines only allow 20,000 baht per transaction, with a 40,000 baht limit per day (2 withdrawals).

Edited January 7, 2020 by Curt1591

[TallGuyJohninBKK]

2 minutes ago, Curt1591 said:

In most cases, when using a Visa backed debit card, one may be avoiding "ATM" fees. But, Visa slaps on a 1% fee, making a 22,000 baht withdrawal incur a 220 baht fee. In this case, AEON is a better deal, with a 150 baht ATM fee. The bad news is that AEON machines only allow 20,000 baht per transaction, with a 40,000 baht limit per day (2 withdrawals).

 

There's no set foreign currency fee on VISA debit cards from the U.S. in terms of what gets passed along to the end user.

 

It all depends on what the issuing bank wants to do..... pass along the VISA network charge, not pass it along, add extra onto the VISA charge...

 

As a result, there are cards with no fee, 1%, 2%, many at 3% and some even higher than that!

 

[Pib]

8 minutes ago, Curt1591 said:

In most cases, when using a Visa backed debit card, one may be avoiding "ATM" fees. But, Visa slaps on a 1% fee, making a 22,000 baht withdrawal incur a 220 baht fee. In this case, AEON is a better deal, with a 150 baht ATM fee. The bad news is that AEON machines only allow 20,000 baht per transaction, with a 40,000 baht limit per day (2 withdrawals).

Yes...Visa (and Mastercard) apply a 1% fee....the call it an International Service Assessment (ISA) fee...but that fee is too your card-issuing bank and not directly to you.  However, your card-issuing bank can either absorb that ISA fee or pass the fee along to your.  If they pass it along it is now a card with a 1% foreign transaction fee.   And the bank can also add-on their own foreign transaction fee....say they add-on 2%....you now have a 3% foreign transaction fee card.

 

And example of a bank (just to name one) that does not pass along the fee...instead they absorb it....is Schwab.   I have various US Visa and Mastercard debit and credit cards where the card-issuing banks/companies absorb the Visa/Mastercard ISA fee which then means their cards do not charge any foreign transaction fee.   

Edited January 7, 2020 by Pib