Transfer money to Thailand and ATM USE

[darrenr]

Hi , if I open a Thai bank account, when i transfer money from my Australian bank to Thailand I note there is a bank fee of 0.25% (or minimum 200 baht to a maximum 500baht ), can this fee be avoided if I transfer from Australia either AUD or TBH ?

 

2. I read somewhere to avoid the foreign card ATM withdrawal fee of 220 baht you can just go into the bank branch and withdraw over the counter to avoid the ATM fee and also withdraw more than the ATM maximum 25,000 

3. Are there any banks that charge less than 220 baht atm fee and more than 25K withdrawal ?

4. Are there any banks that allow a foreign mobile number as part of their two factor identification (token)

many thanks

[xhruso00]

You cannot open bank account in Thailand without proper visa (assuming from the post you don't reside here). You cannot avoid the ATM fee. There is no branch I know that allows withdrawal from card (yes i read those stories that some people got lucky but they never mention which branch or the branch they tried doesn't have a person that did it; or you need to speak thai). 

If you don't have local ATM card - you have to pay those fees. If you have local bank account or have friend who has thai bank account use WISE (transferwise) to get THB into your wise wallet and transfer it from WISE to thai bank account (you can just send it to that person). Note that WISE also charge commission and is one of the cheapest. You need to trust your friend.

 

[scubascuba3]

Ignore the post above, you can open a bank account on a tourist visa or visa exempt, depending where you stay try different branches, if it fails go to an agent to set up.

 

Wise is cheaper than sending your currency by your bank.

 

You can use your farang card in a bank but it's not easy to find one that's willing, it's trial and error. Try Krungsri and excuse if asked is you've forgotten pin, usually you have to sign and show passport

[CharlieH]

Moved to Banking

[mtls2005]

8 hours ago, darrenr said:

2. I read somewhere to avoid the foreign card ATM withdrawal fee of 220 baht you can just go into the bank branch and withdraw over the counter to avoid the ATM fee and also withdraw more than the ATM maximum 25,000 

 

Assuming you have a Visa or MC-endorsed ATM Debit Card from your bank...check the card agreement to see what services are offered, and the associated terms. You're looking for the term "Cash Advance" and/or "Teller Advance". Which may allow you to withdraw THB, at the CC daily rate, at a bank branch teller, up to the daily limit for such an activity on your card/account, without any fees.

 

8 hours ago, darrenr said:

I note there is a bank fee of 0.25% (or minimum 200 baht to a maximum 500baht ), can this fee be avoided if I transfer from Australia either AUD or TBH ?

Yes, if you use a service like WISE, which has its own fee structure.

 

8 hours ago, darrenr said:

3. Are there any banks that charge less than 220 baht atm fee and more than 25K withdrawal ?

There used to be, Bank of China for example (with some restrictions), but probably none today. ATMs here have a physical limit per transaction, it might be 25,000 or 30,000? And your home bank likely has a daily limit.

 

 

8 hours ago, darrenr said:

4. Are there any banks that allow a foreign mobile number as part of their two factor identification (token)

Do you mean any thai banks, which might allow a foreign number for 2FA? Probably not. (not 100% sure on this.)

 

Or do you mean any Australian banks which might allow a thai number for 2FA? (again you're in a better position to verify this I imagine).

 

 

Without a detailed understanding of your requirements (Immigration for example), the best steps might be: open account, transfer a boatload of money via WISE, then use the local thai ATM card for ATM withdrawals.

 

 

 

 

 

Edited January 4, 2022 by mtls2005

[mtls2005]

6 hours ago, xhruso00 said:

You cannot avoid the ATM fee.

Some of us receive the ATM fee as a credit in our accounts.

 

For me it credits within a day or two, but at the original FX rate. For others the credit is nearly instantaneous.

 

 

 

 

 

[Kwasaki]

9 hours ago, darrenr said:

Hi , if I open a Thai bank account, when i transfer money 

As scubascuba3 has said and apparently best to be in a Tourist area.