New ATM charges?

[songmaew]

Used my debit card to take cash out of 2 different bank ATM's  (Bangkok Bank and the yellow bank Ayudya) and was charged the usual atm fee (220 baht), however, on my statement a second transaction appears after the ATM withdrawl (1 day later): " Non-(US Bank) (my bank name there) International Debit Card Withdrawl Fee" these charges were $25.63 and $26.88 (on approx 25,000 baht withdrawn).   Confirmed by my bank not to be their charges, but with the Thai banks.  Have not experienced such charges before on my atm withdrawls - any info appreciated,   thanks. 

[taotoo]

Did you accept the offer of currency conversion?

[Caldera]

I used a USD Mastercard debit card just yesterday. 220 baht fee by the Thai bank (Kasikorn), which they told me about on the screen, same as before. Additional charges by my own bank, also same as before.

[Greenwich Boy]

Got a new Revolut card in the post last week. Withdrew 5,000B. Got charged 5,220 as expected.

Revolut charged 1% or £1.20 as they regard THB as a 'rare currency' The actual conversion rate was 44.6 so reasonable. No other charges.

Will add that I was making sure the card worked before leaving Thailand and access to my Bangkok Bank account. Not a big fan of this 220B malarkey.

[songmaew]

Yes, I accepted their currency conversion (I have tried to select 'NO' to that question on the screen in the past, and when doing so, it cancels the transaction and spits your card right out). 

 

 Believe me, 220 baht is a bargain compared to 220 PLUS $26 us dollars!   

 

It is a mastercard debit card linked to a personal  checking acct.  By the way, I also have (with same US bank) a business debit card linked to bus.  checking acct - did same transaction in an ATM with that card recently and this unscrupulous 'fee' did  not appear on that transaction.

 

 

[KhunBENQ]

3 minutes ago, songmaew said:

and this unscrupulous 'fee' did  not appear on that transaction.

And obviously again accepted DCC currency conversion by the Thai bank.

You find the ways to loose as much money as possible.

No 220 but loosing four digit numbers by the rate.

[KhunBENQ]

Hard to believe that there are expats staying long-term(?) using foreign cards?

Banks must love you.

 

[mtls2005]

These amounts are equal to 3%. 

 

Your ATM Debit card, or credit card issuer (Bank) or carrier (MC/Visa) charges 3%.

 

What is the name of the bank which issued this card? Is it Mastercard or Visa? Is it a credit card or an ATM Debit Card?

 

Have you read the terms and conditions which apply to this card?

 

 

Many of us use foreign ATM Debit cards here, great Visa rate, some get fees reimbursed. I do.

 

01/24/2022    ADJUST FEE CHARGED ATM FEE REBATE (Cash)    $4.58    

 

AEON still charges 150 THB.

 

 

[KhunBENQ]

The thread has slipped through in a quite exotic subforum ("Expat Travel in Thailand Stories"?). Worth moving to banking?

[ubonjoe]

Not travel related. Moved to the business and banking forum.

[mtls2005]

On 2/15/2022 at 7:58 AM, mtls2005 said:

These amounts are equal to 3%. 

 

Your ATM Debit card, or credit card issuer (Bank) or carrier (MC/Visa) charges 3%.

I see now that the OP is being taken advantage of by DCC. And that the effective fee rate is a tad north of 3%.

 

I use AEON ATMs, with a U.S.-based Visa ATM Debit card, never been presented with the DCC screen, but I am familiar with the UI and may option past it.

 

You should be able to get the MC daily rate, along with the local ATM fee (150-220 TB). But you need to review the ATM Debit Card agreement, in which all will be revealed.

 

 

 

 

 

 

[JimGant]

On 2/12/2022 at 2:04 PM, KhunBENQ said:

Hard to believe that there are expats staying long-term(?) using foreign cards?

Huh? If I ever need to use an ATM, I use my Schwab debit/ATM card, which charges no foreign transaction fee and charges no bank fees. Thus, I get the Visa rate of the day, which is north of the banks' TT rate -- and just south of the Interbank exchange rate (equivalent to the mid market rate).  Hard to beat that.

 

And for most of my shopping, outside mom and pop stores, I use my US Visa credit card, with no foreign transaction fees -- and with a 2.5% cash back.

 

The only way I could beat that with Thai debit and credit cards -- is if the money in the Thai bank I'm drawing down against, was wired in at a more favorable exchange rate than the floating daily Visa rate. And, yes, that can happen. But, for security reasons, my Thai debit card is locked away, as debit cards in general, and Thai debit cards in particular, are much more problematic with fraud than credit cards. And why I'd want a Thai credit card, with all the hoops that requires, when I have a perfectly useful fee free, 2.5% cash back card.......

[KhunBENQ]

2 minutes ago, JimGant said:

which charges no foreign transaction fee and charges no bank fees.

You get around the 220 Baht of the Thai bank added to the withdrawal?

220 is more than 1% of a typical 20k withdrawal.

This alone is worse than transferwise for example.

[Bruno123]

On 2/12/2022 at 7:04 AM, KhunBENQ said:

Hard to believe that there are expats staying long-term(?) using foreign cards?

Banks must love you.

 

 

Not an informed comment. It's quite often the quickest and cheapest method. You obviously didn't know that.

[patman30]

Anyone use AEON ATMs ?
 

years ago they were the only bank not charging an atm fee
(i no longer use ATMs unless Thai card)

[KhunLA]

12 minutes ago, JimGant said:

 I use my Schwab debit/ATM card, which charges no foreign transaction fee and charges no bank fees. 

Ditto, my USA debit card also no fee & reimburses (and now, doesn't even show) the silly Thai bank fee on statements.  In the past, it had 2 transaction, withdrawal + reimbursed fee.

[Bruno123]

3 minutes ago, patman30 said:

Anyone use AEON ATMs ?
 

years ago they were the only bank not charging an atm fee
(i no longer use ATMs unless Thai card)

Years ago? Do you mean decades ago?

 

They have been charging 150 baht for a while now. 

[TallGuyJohninBKK]

For Americans, using one of the relatively few U.S. financial institution debit cards like Schwab that both A: charge no foreign currency fee, and B: reimburse the Thai banks' 220b fee on foreign card use is one of the BEST, most economical ways to get cash in Thailand.

 

AEON, however, is not so great, depending on how much money you want with withdraw. Yes, last time I checked long ago, they had a somewhat lower foreign card fee. But they also had a much lower maximum amount per withdrawal limit, compared to the 30K per withdrawal (and fee) that you can get from Krungsri and TMB ATMs.

 

 

 

[Bruno123]

5 minutes ago, TallGuyJohninBKK said:

For Americans, using one of the relatively few U.S. financial institution debit cards like Schwab that both A: charge no foreign currency fee, and B: reimburse the Thai banks' 220b fee on foreign card use is one of the BEST, most economical ways to get cash in Thailand.

 

AEON, however, is not so great, depending on how much money you want with withdraw. Yes, last time I checked long ago, they had a somewhat lower foreign card fee. But they also had a much lower maximum amount per withdrawal limit, compared to the 30K per withdrawal (and fee) that you can get from Krungsri and TMB ATMs.

 

 

 

 

 

You are just assuming that people will have a US$1000+ plus daily withdrawal limit in the first place.

For those who have lower fixed daily withdrawal limits on their ATM cards, AEON may be their best option.

Edited February 16, 2022 by Bruno123

[TallGuyJohninBKK]

9 minutes ago, Bruno123 said:

 

 

You are just assuming that people will have a US$1000+ plus daily withdrawal limit in the first place.

For those who have fixed daily withdrawal limits on their ATM cards. In this case, AEON may be their best option.

 Yep, that's possible... Obviously, it depends on the details of how all the different factors interact... Daily withdrawal limit on the card being used, per withdrawal limit of the ATM being used, per withdrawal fee of the Thai ATM being used.

 

In general, though, it's going to be easier to minimize your cost in fees here in TH for using a foreign card if that card has a higher daily withdrawal limit. And the $1,000 per day cards like Schwab's work nicely with the max 30,000 baht per withdrawal ATM machines operated by Krungsri and TMB.

 

From memory, I wanna say AEON's ATMs will dispense a max of 20K per withdrawal, with their 150b fee for foreign cards. So if you were using a U.S. card that has a $500 per day withdrawal limit (about 16,000 baht), then that would makes sense.

 

But, a person would be paying a  lower share of fee if instead they were using a $1,000 per day card, in a 30,000 baht per withdrawal ATM, and its standard 220 baht fee.

 

 

 

Edited February 16, 2022 by TallGuyJohninBKK

[mtls2005]

1 hour ago, KhunBENQ said:

You get around the 220 Baht of the Thai bank added to the withdrawal?

220 is more than 1% of a typical 20k withdrawal.

This alone is worse than transferwise for example.

 

We get the local ATM fee (150 - 220 THB) refunded to us by our ATM Debit card issuer. I get the credit, usually within 24 hours.

[patman30]

2 hours ago, Bruno123 said:

Years ago? Do you mean decades ago?

 

They have been charging 150 baht for a while now. 

its not decades though is it?
why i asked if anyone use now
if they took years to add the 150 baht fee
they may still be cheaper than other banks
yes i used them for a few years after the ATM fee was introduced at all other banks,
which was also not 20 years ago as you claim
 

[Bruno123]

7 hours ago, patman30 said:

its not decades though is it?
why i asked if anyone use now
if they took years to add the 150 baht fee
they may still be cheaper than other banks
yes i used them for a few years after the ATM fee was introduced at all other banks,
which was also not 20 years ago as you claim
 

 

I did think of writing "eons ago" but you might have taken that literally too ???? Thought it would have been more apt.

Around eight years ago, in fact.

 

 

[patman30]

8 hours ago, Bruno123 said:

 

I did think of writing "eons ago" but you might have taken that literally too ???? Thought it would have been more apt.

Around eight years ago, in fact.

 

 

words matter
you should use the correct ones when trying to make a point

[mtls2005]

18 hours ago, patman30 said:

Anyone use AEON ATMs ?

Yes, I do, as recently as 3 ~ 4 weeks ago. Was just verifying that option still worked. I'm limited to $500 per day so got 16,000 THB, not an issue for me. The 150 THB fee is reimbursed, and the rate is the daily Visa rate. 

 

https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html

 

Edited February 17, 2022 by mtls2005

[Bruno123]

15 minutes ago, patman30 said:

words matter
you should use the correct ones when trying to make a point

 

Don't you feel ever so slightly ridiculous? Do you imagine that someone was going to write their thesis based on the information posted here. Fact is, no one cares exactly when the fee was introduced. 

The fact is that it is 150 baht now and that is what I posted; the really important information.

Now come on down from that high horse and stop taking yourself so seriously.