Today, I went to withdraw money from the ATM at the SCB branch at Central Chidlom. The first thing I noticed was that the fixed withdrawal amounts had changed and the highest amount now was 5,000 baht. After that you have to press the withdrawal button and then specify an amount. So I typed in 20,000 and imagine my surprise when the amount appeared on the screen already converted using dynamic conversion. Down at the bottom of the screen, there was the option of continuing without conversion but when I pressed that button, the transaction was automatically canceled. I tried this twice so it was no mistake. I spoke with a bank employee but it was obvious they didn't know what was going on.

 

Next, I went to K Bank. The fixed amounts did go up to 20,000 there but when I made my selection once again the amount appeared already converted. This time I was allowed to proceed without the conversion and make the transaction but I wonder if this is a foretaste of what's to come, if perhaps banks are testing this to see what kind of reaction they're going to get from foreign customers and in the future you won't be given the option. The conversion fee by the way is 5.50 percent, highway robbery.

 

Clearly, a lot of tourists who don't have experience with foreign ATMs could easily be taken in by this trick. After all, when it says continue without converting it does sound like you could be voiding the transaction. Moreover, most people probably wouldn't even understand what was happening unless they had knowledge of dynamic conversion.  It just seems like this sort of thing should be illegal since it offers no benefit for the consumer.

You're using a foreign/non-Thai ATM debit card?

 

I used my foreign (U.S.) ATM debit card this week at Bangkok Bank ATM in Central Chitlom (lower floor in the connector to Central Embassy) to withdraw 20,000 THB. I was not presented with any DCC option. I always use a BBL ATM for this type of transaction.

 

20,220 THB at the daily Visa rate cost me $590.19 (4 Dec). I already had the 220 baht fee rebated at $6.42. So my net cost was $583.77.

 

I use my U.S. credit card (Chase Saphire Preferred) extensively here, mostly via Google Wallet 'Tap-to-Pay'. Always charged in THB, but if I use the physical card I always stipulate that I'll be paying in THB.

 

 

It may be a dirty trick, but it's not new, actually at least 10 or 15 years ago that it started.

1 hour ago, bamnutsak said:

You're using a foreign/non-Thai ATM debit card?

 

I used my foreign (U.S.) ATM debit card this week at Bangkok Bank ATM in Central Chitlom (lower floor in the connector to Central Embassy) to withdraw 20,000 THB. I was not presented with any DCC option. I always use a BBL ATM for this type of transaction.

 

20,220 THB at the daily Visa rate cost me $590.19 (4 Dec). I already had the 220 baht fee rebated at $6.42. So my net cost was $583.77.

 

I use my U.S. credit card (Chase Saphire Preferred) extensively here, mostly via Google Wallet 'Tap-to-Pay'. Always charged in THB, but if I use the physical card I always stipulate that I'll be paying in THB.

 

 

 

It was a Fidelity debit card. The 5.5 percent conversion fee was on top of the ATM fee. I've used this ATM before without any problem so this is something new.

I used SCB ATM in the lobby last week with US Chase debit card and it processed as usual. Had to select different amount button to get 20k, and it showed with SCB conversion 5.50%, but I selected "No, continue without conversion" and it completed transaction with no problems.

55 minutes ago, JohnnyBD said:

I used SCB ATM in the lobby last week with US Chase debit card and it processed as usual. Had to select different amount button to get 20k, and it showed with SCB conversion 5.50%, but I selected "No, continue without conversion" and it completed transaction with no problems.

That's my whole point. First, I've never had an automatic conversion when using a debit card. Always, I've been asked if I went to use dynamic conversion. Second, I've never had a withdrawal canceled because I refused the conversion rate. But both of these things happened with the SCB ATM at Central Chidlom. At K Bank, I couild make the withdrawal as usual, but, still, the conversion was made automatically and I had to reject it. I think a lot of people won't understand what the conversion is or why they're seeing it and they'll just click on the buttom to proceed with the transaction.

 

I did ask if some change had been made  but the staff I spoke with didn't know.

9 minutes ago, jaywalker2 said:

I think a lot of people won't understand what the conversion is or why they're seeing it and they'll just click on the buttom to proceed with the transaction.

 

   Yes, if you are making a withdrawal and there's a question on the screen and a Yes or No answer , most people would press yes , fearing a No answer could end the transaction