Is it true? no more cash advances/over counter withdraw with a foreign atm debit card?

[zeekgarcia]

A friend told me earlier this week, they went to their usual bank which is the bank that uses the dark blue color signage in a Big C location and they told them that as of May 1, they can no longer do a cash advance/over counter withdraw. They were going to do a cash advance and deposit the whole amount into their account at this bank. The bank told them to try another bank so they tried the bank that uses the purple signage in the same Big C and that bank said the same thing.

 

Has anyone done a successful cash advances/over counter withdraw with a foreign atm debit card here in CM since May 1?

If yes, what bank was this at? 

Thanks 

[Ohyesuare]

Wouldn't surprise me, the banks make a killing off the 220+ baht fee for each withdrawal which is limited to 20k max per withdrawal at many ATMs and also the ignorant people who fall for the trick of letting the ATM/bank do the currency conversion at their much <deleted>tier rate.

[userabcd]

Doubt if that is the case, it is probably the small branch in the mall just not wanting to deal with it.

 

Should try one of the bigger head office type bank branches.

[gamb00ler]

1 hour ago, zeekgarcia said:

Has anyone done a successful cash advances/over counter withdraw with a foreign atm debit card here in CM since May 1?

If yes, what bank was this at? 

Thanks 

Yes.... on Wed. May 4, '22.  In fact, I did both a Visa and a Mastercard "cash advance".  Was done at dark blue bank branch at Big C Extra mall on superhighway.  Went smoothly and quickly, as usual.

[bbko]

1 hour ago, zeekgarcia said:

A friend told me....

Sigh...

[zeekgarcia]

1 hour ago, userabcd said:

Doubt if that is the case, it is probably the small branch in the mall just not wanting to deal with it.

 

Should try one of the bigger head office type bank branches.

Found out it was the Big C South of the airport

[zeekgarcia]

14 minutes ago, gamb00ler said:

Yes.... on Wed. May 4, '22.  In fact, I did both a Visa and a Mastercard "cash advance".  Was done at dark blue bank branch at Big C Extra mall on superhighway.  Went smoothly and quickly, as usual.

This is good to hear, so I guess the banks collude together in some locations because both of the two banks as noted in the op told them the same thing, even though I have done a cash advance using a debit card many times at the dark blue color bank in this same location but so far none this month. And my friends speak good Thai.

Edited May 6, 2022 by zeekgarcia

[The Hammer2021]

8 minutes ago, bbko said:

Sigh...

I heard...

 

[zeekgarcia]

11 minutes ago, gamb00ler said:

Yes.... on Wed. May 4, '22.  In fact, I did both a Visa and a Mastercard "cash advance".  Was done at dark blue bank branch at Big C Extra mall on superhighway.  Went smoothly and quickly, as usual.

Am I correct that you were using a debit card and not a credit card?

Please let me know if I am wrong, thanks

[robblok]

I can certainly understand banks wanting to put an end to this as its a way to not pay the extra fee and it gives them more work. That said for expats its useful. Personally i just have a Thai bank annd put money in the bank once every 3 months and then my costs of using money are low.

[gamb00ler]

2 minutes ago, zeekgarcia said:

Am I correct that you were using a debit card and not a credit card?

Please let me know if I am wrong, thanks

Yes, both cards are debit cards from Schwab and CapitalOne without foreign transaction fees.

[edwardflory]

US DEBIT CARD..

:always deposit straight to my Thai bank account at the TELLER...NOT SERVICE DESK.

walk out the door, use ATM for cash

[sawadee1947]

Happens only with a Russian credit Card I suppose????

[RichardColeman]

4 hours ago, zeekgarcia said:

they went to their usual bank which is the bank that uses the dark blue color signage

I have a bank account in the UK with a big horsie

 

[FolkGuitar]

I use a very small New England bank's debit card. Doesn't work in ANY ATM in Europe or Asia, but this morning I used it to withdraw $800 (the max I can withdraw on this card per 24 hours,) as I do every month, at the Foreign Transaction desk at my usual bank.

[Crazy Noobie]

I did a cash advance using my USA debit card yesterday at my local Bangkok Bank at the mall. I had no issues at all. I usually wire transfer, but I needed some spending cash now. Next time I go in, I will ask them. this way I don't get caught off guard if I need to do it again in the future.

[brianthainess]

I have been using a UK debit card just to check my balance occasionally, last week it rejected my request. Go figure.

[Bangkok Barry]

As usual, places just make up their own rules. I needed to get a new passbook and the bank I went to said I had to go to my own branch. I didn't have time before that branch closed and it would have meant another trip in to the city the next day so I argued the matter and spoke with the manager. And he issued the book, They can if they want to but, the world over, banks like to say no. That was even acknowledged by one UK bank which promoted itself as the bank that likes to say yes.

[scubascuba3]

My favourite place was Krungsri soi 13\2, never refused, 100k was the max i tried. Give them a shot if still open

[SunsetT]

6 hours ago, gamb00ler said:

Yes.... on Wed. May 4, '22.  In fact, I did both a Visa and a Mastercard "cash advance".  Was done at dark blue bank branch at Big C Extra mall on superhighway.  Went smoothly and quickly, as usual.

Debit or Credit card?

[SunsetT]

3 hours ago, FolkGuitar said:

I use a very small New England bank's debit card. Doesn't work in ANY ATM in Europe or Asia, but this morning I used it to withdraw $800 (the max I can withdraw on this card per 24 hours,) as I do every month, at the Foreign Transaction desk at my usual bank.

I have never managed to find out from friends who who have used this method if 1) the bank makes a charge, say 3%, for the transaction and/or 2) what exchange rate they received. Is it the mastercard/visa rate or the bank's rate? The latter, I think, is different from the dynamic rip-off rate offered at ATMs. Can anyone enlighten me please, not by what rate they think they got, but by actually checking the bank, whatever f*#*ing colour, paperwork for a  transfer they have made. Thanks.

Edited May 6, 2022 by SunsetT

[brianthainess]

1 hour ago, SunsetT said:

I have never managed to find out from friends who who have used this method if 1) the bank makes a charge, say 3%, for the transaction and/or 2) what exchange rate they received. Is it the mastercard/visa rate or the bank's rate? The latter, I think, is different from the dynamic rip-off rate offered at ATMs. Can anyone enlighten me please, not by what rate they think they got, but by actually checking the bank, whatever f*#*ing colour, paperwork for a  transfer they have made. Thanks.

I can only say withdrawing money with an overseas debit card from an ATM has cost me around $20 before now, never again.

[gamb00ler]

33 minutes ago, brianthainess said:

I can only say withdrawing money with an overseas debit card from an ATM has cost me around $20 before now, never again.

If you can't find the terms and conditions on your financial institution's website, just call their help line or email them to find out what fees will apply.  Almost all cards will impose fees.  Spend the time to find those that don't.  Nerdwallet.com is a good place to start your search.  The top cards for avoiding fees are Schwab, CapitalOne, Citibank (at their own ATM's only, I believe) and Fidelity.  Look before you leap.

 

Sorry!  I see you're from UK and the above advice is probably useless to you.

Edited May 6, 2022 by gamb00ler

[mtls2005]

19 hours ago, zeekgarcia said:

A friend told me earlier this week

It's always a friend.

 

Which financial service institution, and associated ATM debit card does your friend have?

 

Which banks? Bangkok Bank and SCB?

 

Banks, not branches, have a relationship with Visa and Mastercard, which relies on universal application of rules, features and benefits.

 

Might some branches not offer this service? Sure.

 

Have BBL and SCB stopped providing teller withdrawals and cash advances on foreign ATM debit and credit cards? I guess anything is possible.

 

 

 

 

[mtls2005]

15 hours ago, FolkGuitar said:

I use a very small New England bank's debit card. Doesn't work in ANY ATM in Europe or Asia, but this morning I used it to withdraw $800 (the max I can withdraw on this card per 24 hours,) as I do every month, at the Foreign Transaction desk at my usual bank.

 

Which bank?

 

Often there are two limits, one for ATM withdrawals, and one for Teller Withdrawals. For me one is $500, and the other is $2,500.

 

And you may be able to request one or both limits be raised.

 

 

11 hours ago, SunsetT said:

I have never managed to find out from friends who who have used this method

You need the OP's friends.

 

This method relies on either

 

a teller advance using a Visa or MC-denoted ATM Debit Card associated with a bank account (usually a checking account, also usually in the U.S.) which is takes money from an account, converts it to THB (at the CC rate, mid-market), and dispenses it without any local bank fee, or originating bank fee.

 

a credit card cash advance, also fee-free and at mid-market rates, but which people pay off immediately before it accrues a single-day's interest.

 

 

Both/either are the most cost-efficient methods of accessing your funds elsewhere and getting THB.

 

 

 

 

 

[zeekgarcia]

59 minutes ago, mtls2005 said:

Which financial service institution, and associated ATM debit card does your friend have?

 

Which banks? Bangkok Bank and SCB?

 

Banks, not branches, have a relationship with Visa and Mastercard, which relies on universal application of rules, features and benefits.

1. US visa debit card

2. both

3. The first bank you mentioned is their Thai bank and they have done the cash advance/over counter withdraw at the same location for year or so already but earlier this week the same branch told them as of May 1st they cannot do it anymore for debit cards and go to the second bank you mentioned and they told them the same. 

But as we have seen others here in CM have done this type of withdrawal at the same bank but a different branch this month. 

It would seem like Thai bank branches would be glad to do this, when the person states do this cash advance and deposit the whole amount into their Thai bank account which is also at that branch. 

[mtls2005]

12 minutes ago, zeekgarcia said:

1. US visa debit card

Which financial institution?

 

 

14 minutes ago, zeekgarcia said:

but earlier this week the same branch told them as of May 1st they cannot do it anymore for debit cards and go to the second bank you mentioned and they told them the same. 

And did your "friend" ask what policy change went into effect at these branches on Sunday May 1?

 

Do these branches have foreign remittance desks?

 

 

 

 

 

 

 

 

[gamb00ler]

Soon after opening my SCB account I asked the same branch to do a "cash advance" and they said they don't offer that service.  I never thought to ask at a bigger SCB branch.  I'll try that soon.

[SunsetT]

9 hours ago, mtls2005 said:

 

Which bank?

 

Often there are two limits, one for ATM withdrawals, and one for Teller Withdrawals. For me one is $500, and the other is $2,500.

 

And you may be able to request one or both limits be raised.

 

 

You need the OP's friends.

 

This method relies on either

 

a teller advance using a Visa or MC-denoted ATM Debit Card associated with a bank account (usually a checking account, also usually in the U.S.) which is takes money from an account, converts it to THB (at the CC rate, mid-market), and dispenses it without any local bank fee, or originating bank fee.

 

a credit card cash advance, also fee-free and at mid-market rates, but which people pay off immediately before it accrues a single-day's interest.

 

 

Both/either are the most cost-efficient methods of accessing your funds elsewhere and getting THB.

 

 

 

 

 

Thank you. So you are saying that it is the (mid-market) exchange rate offered by my home bank that issues the card? If so, I find it difficult to believe that the Thai receiving bank does not charge a fee, probably %age wise for this.

 

Is your info. based on personal experience please, i.e., have you checked the rates and charges for transfers that you have personally made?

[gamb00ler]

2 hours ago, SunsetT said:

Thank you. So you are saying that it is the (mid-market) exchange rate offered by my home bank that issues the card? If so, I find it difficult to believe that the Thai receiving bank does not charge a fee, probably %age wise for this.

 

Is your info. based on personal experience please, i.e., have you checked the rates and charges for transfers that you have personally made?

The debit/credit card networks offer decent exchange rates but I don't think I would classify them rate as mid-market.  You can find better rates at Wise but then you have to pay service fees as well.  After those fees are deducted the cash advance route often yields more baht per $ than Wise.

 

When doing a "cash advance" at the teller, @Pib has said that the Thai bank does receive a fee for providing the service.

 

For both my Visa and Mastercard debit cards I have always received the the exact rate shown on the respective exchange rate webpage for the day that I initiate the advance.  Before I go to the bank I can use the Visa/Mastercard web site to see exactly how many ฿ per dollar I will get.  My results have never varied from the expected amount.