Citibank ATMs in Bangkok?

[david_je]

Is there still a Citibank ATM at Asoke intersection where I can withdraw cash using my US-issued Citibank ATM card? Where exactly is it? Any other locations in Bangkok? Is exchange rate okay?

And what is I use my card with non-Citi ATM?

Thanks.

 

[JohnnyBD]

3 hours ago, david_je said:

Is there still a Citibank ATM at Asoke intersection where I can withdraw cash using my US-issued Citibank ATM card? Where exactly is it? Any other locations in Bangkok? Is exchange rate okay?

And what is I use my card with non-Citi ATM?

Thanks.

Citibank Thailand was taken over by UOB earlier this year, around April, so there are no more Citibank ATMs as far as I know. I was a Citibank TH customer, and all my accounts were transferred over to UOB. However, you can probably use your US-issued Citibank ATM debit card in any ATM machine in Thailand. There is normally a 220B transaction fee when using an ATM in Thailand. Also, just a word of advice, select the "NO, continue without conversion" button so the ATM does not charge you 5.50% to make the conversion to THB. This will allow your US bank to make the conversion to THB. Hope that helps.

Edited 5 hours ago by JohnnyBD

[gamb00ler]

2 hours ago, JohnnyBD said:

This will allow your US bank to make the conversion to THB

A small correction on this.  For ATM withdrawals, purchases and cash advances on debit and credit cards, the actual foreign exchange rate is set by Visa and MasterCard, not the issuing banks.  They do the exchange and then bill your home country bank in its own currency.

 

The rates Visa and Mastercard use can be found at:

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

https://www.mastercard.us/en-us/personal/get-support/convert-currency.html

 

To get the correct rate remember to convert from the currency you withdrew from the ATM to your home currency.... not vice versa.

You may also have to adjust the fee percentage per your card's terms and conditions.

Edited 3 hours ago by gamb00ler

[JohnnyBD]

21 minutes ago, gamb00ler said:

A small correction on this.  For ATM withdrawals, purchases and cash advances on debit and credit cards, the actual foreign exchange rate is set by Visa and MasterCard, not the issuing banks.  They do the exchange and then bill your home country bank in its own currency.

 

The rates Visa and Mastercard use can be found at:

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

https://www.mastercard.us/en-us/personal/get-support/convert-currency.html

 

To get the correct rate remember to convert from the currency you withdrew from the ATM to your home currency.... not vice versa.

You may also have to adjust the fee percentage per your card's terms and conditions.

My US Chase bank debit card must not use those Visa & MC rates. I can get about 34.30 THB right now with my Chase debit card at the SCB ATM in my building. I tested it many times and it's usually .30 to .35 THB less than the spot rate.

 

I just checked the Visa rate and it's showing 33.6667 THB. This must have some kind of addtional markup which I do not have to pay with my Chase debit card.

20000 THB = 594.058812 USD

% Mark-up over European Central Bank Rate = 2.65

1 THB = 0.029703 USD

1 USD = 33.666700 THB

 

Edited 3 hours ago by JohnnyBD

[gamb00ler]

11 minutes ago, JohnnyBD said:

My US Chase bank debit card must not use those Visa & MC rates. I can get about 34.30 THB right now with my Chase debit card at the SCB ATM in my building. I tested it many times and it's usually .30 to .35 THB less than the spot rate.

 

I just checked the Visa rate and it's showing 33.6667 THB. This must have some kind of addtional markup which I do not have to pay with my Chase debit card.

20000 THB = 594.058812 USD

% Mark-up over European Central Bank Rate = 2.65

1 THB = 0.029703 USD

1 USD = 33.666700 THB

 

What do you put in the "Bank fee" field"?

 

The difference is due to that fee.

 

Here's what I get when I specify the bank fee is 0%:

 

Edited 2 hours ago by gamb00ler

[gamb00ler]

I only use debit cards that have NO foreign transaction fees.

All Visa and Mastercard debit and credit cards use the same exchange rates.  The differing results are due to the different foreign transaction fees that the issuing banks add on.  Some of those fees are as high as 3%.  Some are 0.

 

Visa and Mastercard set the rates once per day (Tue to Sat) at around 7AM Thai time.

Edited 2 hours ago by gamb00ler

[JohnnyBD]

14 minutes ago, gamb00ler said:

What do you put in the "Bank fee" field"?

 

The difference is due to that fee.

 

Here's what I get when I specify the bank fee is 0%:

 

Ok. That's what I did wrong.  My US Chase debit card has no foreign transaction fee also, so I should have put zero in the mark-up field.

Thanks for showing me.

Edited 2 hours ago by JohnnyBD